01 Line at Marquis Residences
May 18, 2011 by Lucas Lechuga
The 01 line at Marquis Residences is one of the most sought after lines amongst luxury condo developments in Miami. Located on the southern end of the building, the flow-through unit offers both sunset and sunrise views along with views of Downtown Miami, Biscayne Bay, the Miami Beach skyline and the Atlantic Ocean. From floors 23-60, the 01 floor plan at Marquis Residences is a 3 bedroom/2.5 bath condo with 2,106 square feet of interior and a 243 square foot balcony on the east side of the unit.
We decided to make a video showcasing the 01 line at Marquis Residences because we have recently received a lot of interest from potential buyers regarding that particular line. We also feel that the unit offers the best views and pricing amongst developer inventory that is currently on the market. The video below shows a model unit at Marquis Residences located on the 48th floor. Marquis Residences is located at 1100 Biscayne Boulevard in Downtown Miami.
I recently became a home owner. I was renting at the 1800 Club for over a year. I made an offer and my landlord accepted. Now I am the owner of a nice 1 bedroom apartment. I never thought I would be buying. I must give credit to this guy called AJ who was relentless in praising the building on this blog. If not for all his “selling” I would not even have considered 1800 Club to rent. After living there for over a year, I decided to buy. I am very happy about my decision and I got a good price. Recently they announced in one of the board meetings that since 2008 they billed 12 million dollars as HOA dues and the only unpaid dues were $100,000 making it one of the most financially stable building in downtown. So Mr. AJ if you are still reading this, Thank You.
That poor guy got a lot of bashing here. Actually he turned out right for the most part. He is probably having the last laugh.
Thank you for your kind words.
Its too bad my identity as a 40-ish UK DJ was revealed many, many months ago which led to my shameful and embarassing departure from this site.
Yet I am glad my 1800 Club brainwashing agenda paid off. For my services I gladly accept referral fees or commissions. Please comtact me privately for wire transfer instructions and for remittance of the developer’s kickbacks that I owe him.
AJ seemed like a good guy. He was a little crazy but a good guy. He was Right though when he insisted that downtown would be bought up buy foreign investors.
It is good to have dissenting voices on a blog like this
Back in 2009, when I believe there were 13,000 condos left to be sold AJ said they would all be gone by the end of 2011 or by 2012 the most. It seemed like a crazy idea at that time and I didn’t take it seriously either. I believed others who were predicting 6 to 8 years for all of them to go. What happened in 2 years since then is astonishing. There is one more prediction he made. He said there will be a downtown condo shortage by 2014 and even if developers scramble to build, nothing would be coming on line until 2017 which would create another bubble around 2015. This time I am not laughing.
I remember me and Joe arguing over something similar. After looking at the inventory and realizing there was nothing in the pipeline I figured we would hit a shortage soon because developers weren’t going to be able to build until the inventory was extremely low. Things actually moved faster than I though and developers should be coming out of the ground in about a year making that timescale very unlikely. Between Skyline, MyBrickell, Citicentre, 1080, etc. something will be built by 2014, and that’s just Brickell. Mikado and 21 Biscayne are a few projects in other areas that are gearing that I know of off the top of my head.
I’d stick with 15 years which has been a more traditional time line for boom cycles.
Those living rms look awfully narrow. Don’t think I could deal with that. Nice views and finishes though
It seems like there’s quite a bit of revisionist history here. I know AJ was bullish on downtown, but I recall him saying that it would be much more owner-occupied than it is.
Joe, The guy was not a sage and he was just like anyone else. You cant take everything AJ said to the last word. But if what others say is true and he is a foriegner, that explains why his prediction was so bulls eye regarding the condos getting bought out by outsiders. In many of his posts he mentioned how people around the World pay $1000 and up per Square foot for apartments in buildings that look like dumps. It is very obvious that $200-$300 per square foot for such ultra luxury Miami buildings is incredibly cheap for the foriegners. He knew that while we natives overlooked that crucial fact.
This was one of the points I tried to make about a year ago. I remember watching this show called House Hunters International. It shows people buying vacation homes around the world. When I saw the prices that people were paying and what they were getting it was very eye opening.
They usually would show three choices. And often people would choose to move away from the beach because of price. I remember thinking if people would pay that much to buy a vacation home away from the beach and not near a real metropolitan city then brand new condos in a growing downtown Miami only minutes away from on the worlds most famous beaches should be fine.
Gixxer, you were right about this too. But for some reason, we did not want to see it. Either we ignored the facts or we were just wishful thinking hoping that the 13,000 condos will lie there unsold for many years and we could get one or two at $150-$200/sf or less. No matter how much you or AJ protested or showed us facts, it all got drowned out by many other loud naysayers. But as luck would have it, better sense made me pull the trigger just at the right time.
I must warn you though, this success story is very Miami specific, very Downtown & Beach specific. The rest of Miami and Florida are following the national trend and may not bottom out until sometime next year.
carmine, last i checked there were still thousands of unsold condos, and it is years later (prices really started to fall in 2008). i don’t think anybody believed 10,000 condos would sit empty for 10 years. but there have also been plenty of condos sold in the $150-$200 sf range over the past few years. sorry to burst your bubble, but that is the reality. selling out the condo inventory is not a gotcha moment-it is inevitable.
i for one am very happy DJ, owneratinfinity, etc were able to buy at good prices and are enjoying their condos. if i knew for sure i would be in MIA for another 5-10 years, i would have purchased already as well-we are close enough to the bottom for that.
Wow, been a while since I’ve posted here. Seems AJ has been somewhat vindicated.
On that note, I just saw that the unit directly below mine (same line) just sold for $450,000 on 4/28/11. Makes the $370,000 I paid in 8/09 seem pretty good.
Congrats DJ. Even my investment is holding very well. We can safely say greater downtown blues are finally over. It may not be the case with the Miami suburbs but East of 95 has bucked the national trend and maybe on the rebound. Thank goodness we are so desirable to the foreigners. With out them this story would have had a different ending.
Here is something that AJ would have liked going on in his neck of the woods:
http://www.nbcmiami.com/news/local/Miami-Street-gets-a-Californian-Facelift-122190484.html
80K equity in less than 2 years and you are not in the hot Brickell market. I wonder what kind of ROI that makes? Like I said, some people will be left on the sidelines still dreaming about snaging that condo wondering what happened. They called you a knife catcher back in ’09.
There will always be people to call you a knife catcher when you’re taking a risk or in uncharted waters. Hindsight is 20/20 though. As for ROI, looks like my condo, that I never bought as a pure investment, is outperforming my portfolio in the same time frame by a good margin.
Here’s what I’m looking at as a type this and enjoy a nice joint with some Creedence playing in the background.
No complaints from this dude.
Wow! That is a pure Million Dollar View. Enjoy, You deserve it.
I don’t like the Marquis floorplans…. I find them… weird
“I find them… weird”…….we moved a couple walls & changed door positions for our unit in this line and now find it to be a very comfortable floorplan…..there are not very many 01 lines left (entire building is 2/3 sold)………
Hello
Cld yu please advise what changes yu made to floor plan ?
While I feel their bullishness is overblown, I can sort of understand people being excited about the downtown market. However, when “carmine” says that the same thing is happening at the Beach, I must disagree. Unless the buildings I follow are outliers, there’s almost no action at the Beach. There have been a few huge-dollar sales that generated some publicity, but there are still buildings at the Beach that have 1/3 or more of the units for sale. I don’t believe the bottom has been reached for high-end properties at the Beach. Not even foreigners are buying $5 million second or third homes, and these types of units are very bad from an investment standpoint, as $10,000 and $20,000 per month renters are few and far between.