Tag Archives: miami rentals

Miami-Dade County Legislation

New Miami-Dade County Legislation will Require Landlords to Provide a 60 Day Notice of Rent Hikes

Miami-Dade County Legislation

Residential landlords in Miami-Dade County are now required to provide renters at least 60 days’ notice of rent increases of 5% or more, as renting in South Florida grow increasingly expensive.

The legislation was proposed by Commissioner Eileen Higgins and unanimously approved during the commission meeting on March 15th.

Throughout the country, renters are facing a massive rent spike by at least 50% and according to Miami-Dade County, they hope this legislation will help curb those numbers and make Miami more attractive to tenants.

This new legislation would apply to renters nearing the end of their contracts as well as those on month-to-month leases who are facing the 5% rent increase. Also in the new legislation is the notice on eviction time going from 30 to 60 days, including month-to-month leases that came from a 12-month lease.

According to a commissioner, landlords could bypass the new legislation by offering weekly leases. This new legislation can only be enforced in court.

Higgins stated during the meeting, “Thank you all for your understanding about how fair notice is the right thing to do, but not all landlords are doing the right thing. So, this requires them, if their mothers didn’t teach them to do the right thing.”

There are also 2 additional bills for rent control expected to be voted on by this summer, Tenant Bill of Rights and Rent Control. The tenant bill of rights would allow tenants to withhold rent for certain maintenance issues that the landlords haven’t repaired. Landlords would also be required to provide renters with information about their rental rights for state and county laws.

If approved the Rent Control legislation would put a cap on rent increases for 12 months. There would be many hurdles with this legislation that involved multiple votes by commissioners, the mayor, and Miami-Dade citizens.

Merric Park Development

Avalon Merrick Park Tower Under Construction in Miami

New Construction Tower Avalon Merrick Park in Miami
Photo Credit: L & R Structural Corp., Inc.

Avalon Merrick Park is a new construction apartment tower located at 3811 Shipping Avenue in Miami. The 20-story tower will be located near the Douglas Road Metrorail Station.

When it was originally proposed by the developer, Mast Capital, it was named Shipping Avenue Apartments. After AvalonBay Communities purchased the properties for $12.9 million, AvalonBay entered into a joint venture on the project after Mast Capital took it through the approval process. Mast will remain a partner and is the co-developer for this project.

The shell contractor is L&R Structural and the architect will include Arquitectonica.

Avalon Merrick Park will feature 254 residential units with a studio to 3 bedroom floor plan options. The tower will also include 10,000 + square feet of amenities with the main floor housing 825 square feet of retail space. An 8-story attached garage will feature 319 parking spaces.

Building Amenities

  • State-of-the-art fitness center with professional-grade cardio and strength equipment
  • Rooftop, resort-style pool and sundeck with BBQ area and seating
  • Pet-friendly living with WAG Pet Spa
  • Coworking space including workspace pods and reservable conference rooms
  • WiFi access available in common areas
  • Package lockers for 24/7 package acceptance
  • Smoke-free living
  • Controlled access garage parking
  • Bike storage
  • Easily accessible to retail and dining, including the Shops at Merrick Park
  • One mile to Coral Gables and convenient to Downtown Miami, Brickell, and Coconut Grove

Residence Amenities

  • Studio, one, two, and three-bedroom floor plans
  • Modern kitchens with quartz countertops, tile backsplash, stainless steel appliances, LED lighting, and hard surface flooring
  • Washer/Dryer in all homes
  • Walk-in closets
  • Air conditioning

Avalon Merrick Park is centrally located near retail, shopping, and dining. Located 1 mile from Coral Gables and 5 miles from downtown Miami. Leasing begins in 2023 with construction completion in early 2024.

Aria Reserve Miami Rendering

Aria Reserve-Tallest Waterfront Twin Towers in the United States are Coming to Miami

Aria Reserve Miami Rendering

I am sure you have heard of the Aria Reserve Towers Miami, and if you haven’t, keep reading. It will truly be the most unique and luxurious towers to grace the Miami coastline. With its modern yet sultry design set directly on Biscayne Bay, it will truly feel like you are living on a resort!

Located at 711 Northeast 23rd Terrace, Miami’s most coveted area in the Edgewater neighborhood, Aria residents will be able to enjoy Miami’s pristine beaches, Miami Beach nightlife, and the Design District’s shopping. This project is being developed by the Melo Group and designed by Bernardo Fort-Brescia of Arquitectonica with interiors designed by MORADA.

Entrance at Aria Reserve Rendering

Aria Reserve will be the tallest waterfront twin residential towers in the United States rising 62 stories high. Sited on a 5.2-acre development with 547 linear feet of water frontage, it will offer unparalleled amenities. Melo Group also plans to build a public park from Aria connecting to the Miami Baywalk. The development site was previously known as Island Bay.

Master bedroom at Aria Reserve Rendering

The Melo Group has recently launched sales for 321 units in the south tower of Aria. With roughly 800 units between the two towers, pricing for Aria Reserve’s first building will start at $750,000. There are 15 penthouses available starting at $12 million. Units will feature 1 to 4 bedroom floor plans with 1,100 square feet to 2,600 square feet of living space. The penthouses will range from 3,500 square feet to 9,000+ square feet, each including a 3-car garage. Sales for the second tower will be launched based on market demand.

Tower Amenities:

  • 2-acre recreation deck
  • Lap pool and spa
  • Gaming center
  • Playground
  • Tennis courts
  • Basketball courts
  • Paddle courts
  • Miniature golf course
  • Wellness center
  • Gym
  • Meditation Garden

Residence Features

  • Unobstructed views of Biscayne Bay and Ocean
  • Finished residences with two flooring options
  • All residences include 2 high-speed elevators
  • All residences include an office/media room
  • All residences are sunrise-sunset flow-through from East to West
  • 3-month seasonal rentals allowed up to 4 times per year

Construction of Aria Reserve south tower should begin in the spring of 2022 with an anticipated completion date of 2024. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Family Room Aria Reserve Rendering
Balcony overlooking Biscayne Bay Aria Reserve
Continuum South Beach

Continuum South Beach Bulk Sale for $30 Million by Two Former Morgan Stanley Execs

Continuum South Beach

In 2014, Karen Bechtel and her husband William McKinley Osborne III (former Morgan Stanley executives) purchased 3 total units at Continuum South Beach South Tower for $21 million. Records show that they purchased units 3602, 3603, and 3604 and combined it into one unit totaling 8,229 square feet on the 36th floor.

The full-floor condo was originally listed in March 2021 with an asking price of $36.5 million. The gorgeous combined units feature a total of 6 bedrooms, 5.1 bathrooms with a 2-story main suite. Two kitchens, a theater and 3,704 square feet of balconies make up the rest of the luxury apartment.

According to county records, the buyer was listed at MFTMA Holding LLC. The price per square foot totals $3,646, and is considered Miami Beach’s fourth most-expensive condo deal since 2005.

Continuum South Beach Towers

Continuum developer Ian Bruce Eichner also sold his penthouse in the building for $35 million in April 2021 that was originally listed for $48 million two year ago. Another sale for Continuum included CEO of a financial tech company purchased 2 combined units for $12.1 million.

Bechtel and Osborne were both Managing Directors at Morgan Stanley from 1980 to 1991. Bechtel is currently a senior adviser at Carlyle Group. During the pandemic, they established a non-profit organization called Meals for Heroes Miami that focused on partnering with local restaurants to provide food for health care workers and first responders. In April, the couple bought a mansion in Tahiti Beach for $28.9 million.

Continuum was built in two phases by developer by Bruce Eichner in 2002. Residents of Continuum South Beach enjoy arguably the best resort-style amenities.

Continuum South Beach Aerial

BUILDING AMENITIES

  • Stunning landmark architecture
  • 1,000 ft of direct beach front access
  • 24-hour welcome desk with concierge  
  • 24-hour guest valet 
  • Elegant resident club room
  • Luxury Health spa with sauna, steam room
  • Two lagoon-style pools
  • State-of-the-Art gym
  • Business Center 
  • Lush and manicured landscape
  • 3 Tennis Courts
  • Outdoor restaurant
  • Multi-story health club & spa

RESIDENCE AMENITIES

  • Ten foot high ceilings
  • Private balconies with glass railings
  • Floor to ceiling sliding glass doors
  • Imported marble countertops, backsplash, and whirlpool decks
  • Imported marble flooring in wet areas and shower
  • Designer fixtures
  • Whirlpool tubs
  • European bathroom vanity cabinets
  • Seamless glass shower doors
  • Custom European designed cabinetry
  • Granite Countertops
  • Under counter lighting
  • Faber “Inca Smart” integrated hood vent
  • Sub-zero built-in refrigerator-freezer
  • Miele touch-control cook top
  • Miele integrated dishwasher
  • Miele microwave oven
  • Single-lever faucet with pull out spray

If you or someone you know have interest in purchasing one of the units at Continuum South Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

DJ David Guetta in concert

Want to Buy David Guetta’s Miami Condo? It will Cost you $14 million or 348 in Bitcoin

DJ David Guetta in concert

The internationally famous French DJ, David Guetta has listed his Miami beachfront lower penthouse condo at Setai Hotel and Residences in South Beach. Listed at $14 million, he is also accepting payments in Bitcoin (BTC) or Ether (ETH). At todays prices, $14 million is equal to 348 BTC (6/14/2021).

His luxury 3 bedroom fully furnished residence is located on the 37th floor and boasts 2,528 square feet of living space. The condo features 3 bedrooms, and 3 bathrooms with 2 master suites.

The wraparound balconies offer unobstructed views of the Atlantic Ocean, Miami Beach, and the Miami skyline. This penthouse has been tastefully designed by Piero Lissoni.

Setai Hotel and Residences features 24 hour security, valet, and concierge services. The five-star hotel features many hotel amenities that are available to residences including a 90-foot poolside bar, boutique and art gallery, private ground transportation, three beachfront pools, and cabanas.

DJ David Guetta also has a rental located at Paraiso Bay in Edgewater Miami. This stunning upper penthouse starts at $22,000 a month with a minimum of a 6 month contract.

Guetta originally purchased the property in 2018 for $9.5 million from Richard LeFrak (New York billionaire).

Guetta is a French DJ, songwriter, and producer who has hit 50 million in record sales and streams over 10 million. For 2011 and 2020, Guetta was voted the #1 DJ in DJ Mag’s Top 100 DJs. In 2013, he was also title Billboard’s #1 Dance-Pop Collaborator of all Time.

David Guetta's Condo For Sale
Source: Freud Group
David Guetta's Kitchen
Source: Freud Group
David Guetta's Kitchen
Source: Freud Group
David Guetta's Bedroom
Source: Freud Group
View from David Guetta's Condo
Source: Freud Group
Sexy Fish Brickell Flatiron

Sexy Fish Coming Soon to Brickell

Sexy Fish Brickell Flatiron

London hotspot Sexy Fish, will open its first United States restaurant in Brickell in September 2021. Located inside Brickell Flatiron at 1001 S. Miami Avenue, it will be the hottest restaurant this fall!

The Japanese-style restaurant was created by British hospitality entrepreneur Richard Caring, who is responsible for Annabel’s, Ivy Collection, Soho House Group. Chef Bjoern Weissgerber will be running the kitchen at Sexy Fish. He made his first debut at Zuma Miami in 2010 and received his first Michelin star when he was 27 years old.

Sexy Fish Brickell

The menu will feature a wide variety of makis, sahishi, sashimis, and tartares. The bar menu will feature drinks inspired by its London counterpart.

It is unclear what the aesthetic for the Miami location will be but its London location features a golden ceiling, bronze mermaid statue, and exotic fish with coral in large tanks.

Signature Dishes:

  • tuna belly, kombu cured & smoked
  • Yellowtail sashimi & mandarin ponzu
  • crispy duck & watermelon salad, pomegranate & cashew
  • eringi mushroom tempura, summer truffle & aka miso
  • isle of mull scallop, jalapeño sauce & pickled apple
  • wagyu gyoza, foie gras & black truffle
  • caramelized black cod, spicy miso
  • king crab & bone marrow, summer truffle & toast
  • beef tenderloin, 200gr, ginger & black pepper

Late Night Menu:

  • oyster gillardeau & smoked chili sauce
  • salt and pepper squid
  • wagyu tataki, Japanese mustard & summer truffle
  • prawn gyoza, soy & ginger dressing
  • seasonal vegetable tempura (9 kinds)
  • lobster, smoked Marie rose dip
  • green asparagus smoked creamy ponzu
  • Kimichi fried rice
  • lobster Sancho pepper & shiso butter
  • Japanese wagyu A5 sirloin 150g*
  • Japanese wagyu A5 fillet 150g* Sex
Sexy Fish Brickell Flatrion
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.

North Bay Road Waterfront Estate

Jennifer Lopez and Ben Affleck Rent a Waterfront Mansion in Miami Beach

North Bay Road Waterfront Estate

As news continues to spread of Jennifer Lopez and Ben Affleck’s rekindling, it was recently announced that the couple have rented a Miami Beach mansion at 2700 North Bay Road in the North Bay Road neighborhood. North Bay Road features some of the most exclusive properties in South Florida, and has a reputation of luxury, exclusivity, and celebrity appeal.

Lopez and Affleck’s current residence was originally listed at $130,000 a month and still remains active on Miami’s Multiple Listing Service. With Bayfront views, this estate sits on 0.6 acres with 100 feet of water frontage.

With 11 bedrooms, 12 full bathrooms, and 3 half baths, this stunning 2-story residence features 10,114 square feet of living space. Additionally, the home features a guest house, 3 parking garages, gym, office, master suite with expansive balcony, large pool, jacuzzi, spa, and boat dock.

Originally built in 1925 by MV Group USA, the home was renovated in 2015 with a more modern and minimalist design. The home was originally listed for sale in December 2020 for $18.9 million and sold to a Jewelry designer, Paul Morelli in April 2021 for $17.5 million. The home was then listed for rent for $130,000 monthly and the status is still showing as ‘active’ in the MLS. According to the New York Post, Lopez is the one who rented the mansion.

Jennifer Lopez and Ben Affleck's Miami Beach Rental

Jennifer Lopez has previously owned in the neighborhood at 5800 North Bay Road but sold the property to Phil Collins for $33 million in 2015. Lopez and recent ex-fiancé, Alex Rodriguez purchased a home together on Star Island in Miami in late 2020 and it is unclear what they plan to do with the home since their separation.

Jennifer Lopez and Ben Affleck

Lopez and Affleck were previously engaged in 2002 but separated in 2003. Alex Rodriguez is still living in Miami at his other home located in Coral Gables, Florida.

Legacy Hotel & Residences at Miami WorldCenter

Legacy Hotel & Residences Sells out at 100% at Pre-Construction

Legacy Hotel & Residences at Miami WorldCenter

Legacy Miami Worldcenter also known as Legacy Hotel & Residences is one of the newest pre-construction residential towers located in Park West Miami. This luxury tower will rise 668 feet tall with 50 stories. This tower has officially sold out before the groundbreaking. According to the South Florida Construction Journal, this is the first development in downtown Miami to sell out prior to construction.

Centrally located at 942 NE 1st Avenue in the heart of the Miami Worldcenter ‘mega-development.’ This mixed-use project will feature 287 residences, 262, luxury hotel rooms, restaurants, business center, medical office, retail, and a rooftop atrium with multiple amenities. It will also be considered the second tallest tower at Miami Worldcenter.

Legacy Hotel & Residences Rooftop Amenities

The residences will consist of studios, one-bedroom, and two-bedroom floor plans ranging from 368 to 964 interior square feet. Developed by Royal Palm Companies with Kobi Karp as the architect and ID & Design International designing the interior space. This tower will feature state-of-the-art living without any rental restrictions. This allows homeowners to rent their units on a short-term basis through AriBnB, VRBO, or through Legacy’s rental program. The residences at Legacy Hotel & Residences will come fully furnished.

The sold units include a total of 310 with a combined value of $160 million. The average prices ranged between $350,000 to $2+ million. There are 8 penthouses remaining are subject to use for the hotel portion of the project.

RPC is currently closing on their construction loan and expects to announce that milestone soon. Construction permits are pending and site pre-work is estimated to begin the end of May and/or beginning of June 2021. Legacy Hotel & Residences is expected to be completed in 2024.

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.