Tag Archives: miami luxury

Old Cutler Bay Neighborhood

President of a Wealth Management Firm Buys Waterfront Mansion in Coral Gables for $14.6 Million

Old Cutler Bay Neighborhood

Miguel Duenas, President and Chief Investment Officer for Dimension Capital Management (Coral Gables based wealth management firm), just purchased a waterfront mansion in the Old Cutler Bay community for $14.6 million.

Miguel and his wife purchased the home located at 9385 Balada Street, Coral Gables from Jose I. and Elizabeth J. Garcia. The Garcias originally purchased the estate in 2018 for $7 million.

Old Cutler Bay leading to Atlantic Ocean

The home was built in 2007, featuring 6 bedrooms, 7.5 bathrooms with 8,245 square feet of living space. The lovely estate sits on 0.7 acres with 364 feet of water frontage. The home is equipped with everything you could possibly need and want in a luxury home; full-gym, elevator, infinity pool and boat dock.

The gorgeous home is completely refined with custom cabinetry, granite countertops, and high-end stainless steel appliances. Multiple covered terraces grace the exterior overlooking the unobstructed bay. One of the best features of this property is that there are no bridges to hinder direct access to Biscayne Bay.

This subdivision located in Coral Gables is known for its privacy and architecturally designed waterfront estates. Upon entering the gated-community, you are greeting with gorgeous tree-lined streets leading to the immaculate and custom estates. You will truly have a neighborhood feel in the middle of a big city.

Neighborhood Amenities:

  • 5+ miles of walking and biking trails
  • 24 hour guard gate with security
  • 24 hour roving patrol security
  • Direct access to the Atlantic Ocean
  • Wide canals for boating

Old Cutler Bay is located one block south of Kendal Drive and just a few minutes from Matheson Hammock Park & Marina and Fairchild Tropical Gardens. This neighborhood also places you 30 minutes away from Miami International Airport as well as downtown Miami.

Recent sales in Old Cutler Bay include the founder of TechCrunch, who purchased a waterfront mansion for $16 million in May.

Pool View from Waterfront Mansion in Coral Gables
Star Island in Miami

Lea Black of the Real Housewives of Miami Sells Waterfront Mansion on Star Island for $34 Million

45 Star Island Miami

Another waterfront mansion has just been added to the market and the owner is non-other than Lea Black of the Real Housewives of Miami. Her and her husband, Roy Black are selling their waterfront estate on Star Island for $34 million.

The waterfront mansion is located at 45 Star Island Drive situated at the entrance of Star Island on 1.07 acres with 190 feet of water frontage with an expansive dock. Featuring 9 bedrooms, 9 full bathrooms, and 3 half baths, the home includes 2 stories of 10,636 square feet of living space. The property was built in 1981. Amenities for this massive mansion include a pool and guest cottage.

The Black’s originally purchased the home in 2011 for $7 million, which is also the same year that the Real Housewives of Miami first aired on Bravo.

Leah Black stated in an email to TMZ, “We had planned to renovate and move there ourselves, but later decided that with our son in college, the amount of time we spend traveling and in L.A. that it was not feasible for us to enjoy further. Although we own other homes, this one is very special to us because of the exclusivity it offers and the wonderful people that live there.”

Lea and Roy have listed their home ‘for sale by owner,’ and stated that they have received a few qualified offers. The family also owns home in Coral Gables, Key West, and Los Angeles.

Miami Real Estate Sale Surge

Miami Real Estate Sales Surge in April 2021 – Best Sales Month in History

Miami Real Estate Sale Surge

Home and Condo Sales surge in April making it the best sales month in Miami-Dade County real estate history. There have been a record number of companies relocating as well as individuals moving to South Florida creating such a high demand. Throw in the record-low mortgage rates and you definitely have your ‘surge.’

According to the Miami Multiple Listing Service (MLS), home sales have increased by 151.3% from 2020. Last year offered 1,576 homes sold to this year alone doubling to 3,960. Single-family home transactions increased by 83.1%. Condo sales are no different, with a substantial increase of 234.2% from 711 sales in 2020 to 2,376.

According to the MIAMI Realtors Chairman of the Board Jennifer Wollmann, “Miami recorded its best April sales month in history and the sales could have been even larger had there been more inventory.” “As is the situation in many major cities, inventory is low for single-family homes. The Miami condo market, however, is in a balanced market with 7.1 months of supply and buyers are taking advantage of the sector’s healthy inventory and today’s record low mortgage rates,” Wollmann also stated.

The luxury market has seen a substantial increase, with Miami luxury single-family home sales increasing 541.1% year over year with 359 total sales for April 2021.

Single-family home pricing between $400,000 to $600,000 increased by 118.9% to 521 transactions in April 2021. Cash sales for single-family homes have increased by 27.4%

The Miami Luxury condo market has also seen a spike in sales with an increase of 540.8% with 314 sales. Condo pricing sales between $400,000 and $600,000 had an increase of 371.6% to 349 sales than the years prior. Median prices for condos have increased 22.6% year over year as well. Condo cash sales accounted for 46.5% of transactions.

Distressed sales in my were at 1.5% which is low compared to prior years. Back in 2009, distressed sales accounted for 70% of all Miami sales.

With the high-demand, Miami real estate buyers have gotten creative and competitive with their offers. Multiple bids, buyers offering over asking price, and/or offering cryptocurrency in with their offer can really give buyers an edge in this market. Other factors have included mortgage contingencies, waving home inspections, and mortgage lenders waiving appraisals have also created a competitive edge.

The District in Downtown Miami

Renderings and Site Plan Released for Downtown Miami’s Newest Tower The District

The District in Downtown Miami

Renderings, floor plans, and site plans have recently been released for Miami newest 37-story condominium tower called The District. In April, The Related Group and Parcel C LLC’s proposed and received approval for the project.

This tower is in pre-construction and is proposed to include 347 residential condos with 2,297 square feet of retail space. This project will not have any parking but the developer is requesting an off-site parking waiver.

Rising 393 plus feet tall, The District will be located at 233 N Miami Avenue in downtown Miami. The floor plans will be fully finished and furnished ranging from 446 square feet to 874 square feet with studio to 2 bedroom options.

Night View of The District

Building Information

Residence Amenities  

  • Smart home technology
  • Includes integrated audio, video window treatment and lighting systems
  • All residences come equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
  • Fully built-out closets in all residences
  • Built in top-of-the-line in-unit washer and dryer
  • Flooring selections included with specifications recommended by Meshberg Design
  • Pre-wired for high-speed communications and data connection
  • Kitchens feature custom Italian cabinetry curated by Meshberg Design
  • Smeg appliance package includes integrated paneled microwave, dishwasher, built-in convection oven and refrigerator/ freezer

Building Amenities

  • Rooftop Amenity Deck : Expansive resort-style rooftop amenity deck with plunge swim spa, fire pit, summer kitchen, and gorgeous views of Downtown Miami and Biscayne Bay. 
  • Basketball & Racquetball Courts :Full-height indoor basketball court and regulation-size racquetball court and Rock climbing wall.
  • Co-working Space :Co-working floor with multiple seating options, high-speed Internet, private meeting rooms, conference room and a full-service kitchen.
  • Fitness Center :State-of-the-art fully equipped fitness center including a private yoga/spinning room with virtual trainer and men’s/women’s sauna/ sauna and locker rooms. 
  • Museum-quality Art :Double-height lobby featuring professionally curated museum-quality art.
  • Monitoring Services :24/7 security services and controlled property access.
  • The District App :Customized password-protected app for home/away smart-home management.
  • Parking :24/7 valet services and self parking.
  • Dining :On-site café servicing the residences and recreation areas.
  • Electric bikes with charging stations are available for residents on the go. 
  • Housekeeping  :On-demand full housekeeping services available at your convenience.
  • Climatized receiving  and storage room
  • Resort Style pool deck with lounge and recreation room

Unit Distribution

Unit TypeFloorsSq.Ft RangeStarting Prices
Studios4th – 33rd458 Sq.Ft – 469 Sq.FtFrom $352,900
1 BD / 1 BA4th – 37th558 Sq.Ft. – 615 Sq.Ft.From $385,900
2 BD / 2 BA4th – 37th786 Sq.Ft. – 884 Sq.Ft.From $573,900

Deposits

  • 10% down with executed contract
  • 10% 60 days after executed contract
  • 10% at groundbreaking (scheduled end 2021)
  • 10% at top off (schedule 3rd quarter of 2022)
  • 60% at closing (scheduled 2nd quarter 2023)

Multiple waivers have been approved on April 9, 2021 but the construction permits have not been filed. Some of paperwork also includes transitioning some units in hotel room. The ground breaking is scheduled for the end of 2021 with estimated completion date of 2023.

Shoma North Bay Village Rendering

Shoma Group Buys North Bay Village Land for $15.78 Million for a Proposed Mixed-Use Project- Shoma Bay

Shoma North Bay Village Rendering

Shoma Group, led by CEO Masoud Shojaee has recently purchased a 1.79 acre lot in North Bay Village. The development group purchased the land through two separate deals for a total of $15.78 million.

The lot located at 1850 79th Street Causeway sold for $8.38 million while the lot with a current retail building at 1872 79th Street Causeway sold for $7.4 million. Both properties were purchased with a mortgage through North Bay Finance & Investments.

Shoma Bay Mixed-use Project in North Bay Village

The plans for the ‘Shoma Bay’ development were presented and approved by the North Bay Village in March 2021. The mixed-use development will house a 19-story tower that will include 333 residential units, 36,068 square foot approved Publix grocery store, 6,315 square feet of retail, and a 666 garage spaces. Ten of the spaces will be dedicated to electric charging vehicles, and the garage will be located on top of the Publix.

The amenities will include a pool, bowling alley, complimentary snack station, wework café, clubroom, and more to be determined.

MSA Architects are the lead designers on this project. MSA have also designed the Waverly at Surfside, Porto Bellagio, and the Marriott Miami Beach.

CloudM Rooftop Bar and Lounge Opening in Miami

CitizenM at Miami Worldcenter is Getting a Rooftop Bar and Lounge – CloudM

CloudM Rooftop Bar and Lounge Opening in Miami
Photo Credit: citizenM.com

Get ready for the newest and hottest Miami rooftop bar and lounge coming to the Miami Worldcenter. CloudM will be located at the new citizenM hotel in downtown Miami at 700 NE 2nd Avenue. The views will be nothing short of spectacular from Biscayne Bay to the Miami skyline and beyond!

CloudM will mirror its original location out of New York bringing a unique experience, visually and socially. Featuring an ultra-modern design with cloudM you will be able to “drink in the clouds.”

Hotel citizenM broke ground in January 2020 with top-off completed in December 2020. The hotel will feature 12-story, 351 rooms that were designed by Gensler. Construction is nearing completion and is expected to conclude in 2021.

Construction Information:

  • Development Manager: Miami Worldcenter
  • Design Architect: Concrete
  • Local Architect: Gensler
  • General Contractor: Suffolk Construction

Hotel Room Amenities:

  • Wall-to-wall windows
  • XL king-size bed
  • Powerful rain shower
  • Luxury bedding and towels
  • iPad room controls for lights, temperature, TV, blinds
  • HDTV with free movies and streaming capabilities

Hotel Amenities:

  • 10th floor rooftop terrace
  • cloudM rooftop bar and lounge
Victor Oladipo Buys Miami Beach Home

Miami Heat Guard Victor Oladipo Buys Miami Beach Mansion for $7.75 Million

Victor Oladipo Buys Miami Beach Home

A two-time Miami Heat All Star, Victor Oladipo recently purchased a Miami Beach mansion for $7.75 million with an original list price of $7.9 million.

The immaculate home located in a gated community on Hibiscus Drive features 6,900 square-feet of living space on 0.33 acres. Developed by Hassan Jalali of H2 Construction, this home was originally a spec home when it was first built in 2019.

This mansion features 7 bedrooms, 7.5 bathrooms, pool, and a pool house. According to the listing agent, the home is one of the largest non-waterfront homes in Miami Beach. It doesn’t take away from the gorgeous views of the wrap around pool with unique water features.

Victor Oladipo Miami Beach

The main floor features an open floor plan with a chef’s kitchen, formal dining room, and maid’s corner. The second floor is especially unique with two master suites and three en suite bedrooms.

Victor Oladipo played college basketball for the Indian Hoosiers where he was named Sporting News ‘Men’s college Basketball Player of the Year’, Co-‘NABC Defensive Player of the Year’, and a first-team ‘All-American’. In the 2013 NBA Draft, he was the 2nd overall pick by the Orlando Magic and was named NBA All-Rookie first team. Oladipo has also played for the the Oklahoma City Thunder and the Indiana Pacers.

One Thousand Museum Tower in Park West

Neighboring Penthouse to David Beckham is Under Contract with a List Price of $19 Million

One Thousand Museum in Park West

One Thousand Museum designed by Zaha Hadid in Park West Miami has so much to offer its residences and not to mention, it is also the home of David and Victoria Beckham. Who wouldn’t want to live there!

With the current Miami real estate market, luxury condos are not staying on the market very long. So it is of no surprise that the penthouse neighboring David Beckham’s was just listed and under contract within a matter of days with a list price of $19 million.

One Thousand Museum Entrance

This full-floor penthouse is located directly under David Beckham’s penthouse. Although both units feature 9,200+ square feet, the floor plans are different with the same incredible views of Biscayne Bay from the 1,020 square feet terrace.

This unit has everything including 5 bedrooms, 6.5 bathrooms, high ceilings throughout, custom Gatto Cucine Kitchen with Sub-Zero appliances, custom closets, and custom bathrooms. The entire residence has integrated smart technology that controls lighting, heating, air conditioning, audio, video, window treatments, and security.

The building is just as impressive with its double-height aquatic center with infinity pool, sky lounge and not to mention the first residential development in South Florida to have its own helipad and security vault.

One Thousand Museum Tower in Park West

Building Features

  • Double height aquatic center with indoor pool
  • The Sky Lounge provides a dramatic venue for private events for residents
  • Private rooftop helipad. The helipad will make nearby islands, private and commercial airports, and private yachts easily accessible
  • Multiple recreation areas for swimming, sunning, socializing, and fitness
  • 24/7 specialized security and valet personnel, other on-site staff including concierge, professional management, and other specialized personnel
  • Custom scenting by 12.29 in all interior amenity spaces including the lobby, wellness & spa level, aquatic center, and sky lounge (can be available in residences upon request)
  • Bank-quality vault with individual safe deposit box for every residence, offering residents the convenience and security of storing their valuables onsite

David and Victoria Beckham purchased their One Thousand Museum penthouse for $20 million in 2020.

Modera Biscayne Bay Tower

Modera Biscayne Bay Tower Tops Off – Preleasing Begins May 2021

Modera Biscayne Bay Tower Tops Off

Modera Biscayne Bay recently toped off on the 28-story tower located at 2150 N Bayshore Drive in Edgewater. This luxury mixed-use residential tower features 296 apartments for rent, 11,000 square feet of retail space, and an 8-story parking garage with 425 spaces. This tower was originally occupied by Unity on the Bay Church before demolition.

Building Information:

Modera Biscayne Bay Tower View from Biscayne Bay

Building Amenities:

  • 27th-floor amenity deck
  • Rooftop pool
  • Barbecue area
  • Club-quality fitness studio
  • Yoga and Pilates studio
  • Clubhouse
  • Internet/business lounge
  • Conference room
  • Coffee Bar
  • Pet Spa
  • Catering kitchen for entertainment
Modera Biscayne Bay Aerial View

Leases Include:

  • Digital package lockers
  • Additional storage areas
  • Bike storage
  • 8 stories of structured parking
Modera Biscayne Bay Preleasing in May 2021

Resident Amenities:

  • 1, 2, and 3 bedroom apartments (den and penthouse options available)
  • Energy Star® stainless steel appliances
  • Quartz countertops
  • Tile flooring
  • Upgraded fixtures
  • Tile backsplashes
  • In-home washers and dryers
  • Walk-in closets
  • Programmable thermostats
  • Private patios or balconies
  • Select units feature:
    • 15-foot ceilings
    • Breakfast bars
    • Double vanities
    • Linen closets
    • Built-in storage/shelving.

As construction continues with the last phase, Modera Biscayne Bay will begin pre-leasing in May 2021.

Modera Biscayne Bay Garage View