Michael Light Shatters 2 Coconut Grove Real Estate Records With Sale of Famous ‘Hammock House’ Posted on May 24, 2017January 28, 2018 by Michael Light Michael Light, Owner of the Miami Luxury Homes Group at Douglas Elliman Real Estate is proud to announce that he shattered 2 Coconut Grove Real Estate records with his closing of ‘Hammock House’ this week. Sold for $5,082,000 | $818 Per Square Foot First Non-Waterfront Home in the History of Coconut Grove to Sell Over $5 Million Highest-Price-Per-Square-Foot Non-Waterfront Home to Ever Sell in Coconut Grove Coconut Grove Historical Non-Waterfront Sales Over $700 Per Sq/Ft Setting two records, the seller of Hammock House, who wishes to remain anonymous, sold the 6,212-square-foot modern residence located at 3503 Banyan Circle for a whopping $818 per square foot. Hammock House is now the first non-waterfront home to ever sell over $5 Million in Coconut Grove and the highest-price-per-square-foot non-waterfront home to ever sell in The Grove. Broker Associate Michael Light represented the seller in this historic transaction, exceeding all expectations of the seller, by utilizing his unrivaled marketing skills and working tirelessly to find a buyer to pay the highest possible price for the home. Designed by award-winning architect Shulman+Associates, Hammock House is truly a one-of-a-kind residence situated within a lush tropical hammock on nearly 20,000 square feet of land that has wholly sustained its natural state, making it exclusive and almost impossible to replicate anywhere else in South Florida. Built in 2014, this residential work of art was designed specifically for a family who values privacy, but also desires a seamless, elegant indoor/outdoor living experience, and this precisely describes Hammock House. “Hammock House is an extraordinary residence,” says Light. “It is a stunning modern home in the center of Coconut Grove merely walking distance to an eclectic variety of shopping, dining and entertainment, but when you are at the residence, you feel as if you are relaxing in a 5-star private villa in Costa Rica.” Hammock House offers a luxurious living area of 6,212 square feet with a total of 6 bedrooms and 7.5 bathrooms with a state-of-the-art main house boasting the latest Control4 home automation system, Lutron lightning, video security, custom-designed Boffi kitchen, Boffi bathrooms, formal living room and staff quarters, along with a 538-square-foot, free-standing guest house. The gorgeous open living spaces of the main house naturally flow through the floor-to-ceiling glass walls to the outdoor entertainment area offering a heated salt-water pool, a Jacuzzi and a summer kitchen amid an abundance of organic foliage, offering a serene outdoor oasis in your own backyard with ultimate privacy. Added Light, “Coconut Grove’s real estate market has seen exponential growth over the last several years. In this supposed “down” market I keep hearing about in Miami, the Grove is setting records. It is as if people are just now finding out how special the Grove is and realizing South Florida is not all about South Beach anymore.” “The Buyer is a wealthy South American businessman who plans to make this home a primary residence for him and his family,” says Light. “The buyer’s wife was the catalyst for the sale as she truly appreciated the architectural design of the home, the sophisticated interior design and the overall uniqueness of the home.” About Camp Biscayne and Coconut Grove Nestled into the serene streets of Miami’s most sought-after neighborhood of Coconut Grove and immersed in history, Camp Biscayne is the former 1920’s winter getaway that catered to such noble visitors as the Rockefeller family and Alexander Graham Bell providing these visitors with a captivating and rustically-charming camp for water activities such as fishing and sailing. Now, Camp Biscayne is an esteemed, gated community and is one of Miami’s best-kept-secrets offering ultimate tropical serenity surrounded by giant oak trees, natural park-like landscaping and the sparkling waters of Biscayne Bay. Also in Camp Biscayne, Douglas Elliman has the $43 Million mega-waterfront mansion dubbed Casa Bahia exclusively listed for sale, a newly-completed 3-story estate perfectly situated on 518 linear feet of waterfront along Biscayne Bay. About Michael Light Michael Light is a top-producing Broker Associate in Miami-Dade County and the Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman Real Estate. Michael’s unwavering work ethic, dedicated professionalism and unparalleled expertise in the Miami real estate market has positioned him as a real estate authority, sought-after by powerful professionals and influential individuals from all over the world. Moreover, Michael prides himself on his innovative and effective marketing skills that have proven to be successful. Michael owns and operates www.MiamiLuxuryHomes.com, one of the most trafficked luxury real estate websites in South Florida. Michael’s online marketing skills coupled with his global marketing reach to 520 offices in 59 countries on 6 continents through Douglas Elliman’s exclusive partnership with Knight Frank Residential of London, sets Michael Light apart from other real estate brokers in South Florida. If you, or someone you know, are interested in selling your home in South Florida, please contact Michael to discuss a custom marketing strategy for you home. You may reach Michael via email at michael@miamiluxuryhomes.com, on his cell phone at (786) 566-1700 or office phone at (305) 350-9842.
Winner, Winner…I-395 Signature Bridge Design Chosen…with Controversy Posted on May 20, 2017 by Michael Light Rendering of the “Fountain” bridge design for I-395 | Rendering courtesy of Archer Western – De Moya The Florida Department of Transportation (“FDOT”) voted on the design of the new I-395 signature bridge in Downtown Miami, and the winning design has been announced with much controversy. The winning design of the $800 Million project that was approved this past week by the FDOT was created through a joint venture led by Archer Western and the de Moya Group and is named “Fountain.” So, what is the problem, and why are people so upset about the Fountain? Renderings of the “Fountain” bridge design for I-395 | Rendering courtesy of Archer Western – De Moya Well, after many years of rumors about the design for the state-funded bridge that has been anticipated to become an iconic landmark in South Florida, the FDOT decided on the design without residents and taxpayers actually having a fair say. In addition, many are claiming that the FDOT has not been transparent about the approval, and some are even charging voter maneuvering that diluted the power of the final approving aesthetic panel, according to the Miami Herald. And, the FDOT seems to be ducking questions about their voting process, even though community leaders are publicly speaking out. Overall, people are upset about the lack of transparency of the FDOT and that the bridge design that won was not the preferred design by the aesthetic panel. The aesthetic panel actually preferred the design below by Fluor-Astaldi-MCM, which consists of 2 scissor-like towers meant to look like dancers cavorting before the adjacent Arsht Center for the Performing Arts. Second Place – Proposed Rendering for the I-395 bridge design submitted by Fluor-Astaldi-MCM Nevertheless, rumors are already flying that the bridge construction may be delayed, and that there may be some ability to override the score of the panel if Fluor-Astaldi-MCM can provide an overall better value…we will wait and see. Please let us know your thoughts about the winning design.
TODAY is the Grand Opening of the Frost Science Museum in Downtown Miami Posted on May 8, 2017 by Michael Light Aerial View of Frost Science Museum | Photo by Robin Hill Today is the public grand opening of the highly-anticipated Phillip and Patricia Frost Museum of Science situated in Museum Park in the epicenter of Downtown Miami. Dubbed ‘Frost Science,’ this museum is one of the most innovative and sophisticated science museums in the world offering an array of exhibitions and high-tech experiences. From the LASERsHOW gallery to the vast three-level aquarium to the state-of-the-art Frost Planetarium featuring 16-million-color 8K projection, Frost Science truly offers a dynamic experience. “Frost Science is more than a building. It is the embodiment of curiosity, investigation and an enthusiasm for knowledge that will inspire generations to come,” according to the museum’s website. Key Exhibitions of Frost Science Discover the captivating science behind the miraculous human body and mind, vibrant ecosystems and the frontier of innovation and technology. Frost Planetarium | 250-seat planetarium in a 67-foot dome featuring 16-million-color 8K projection (1 of only 13 in the entire world) with surround sound and a huge dome screen to take you on incredible visual odysseys of outer space. Aquarium | A distinct 3-level aquarium that carries you from the surface to the depths of South Florida’s aquatic ecosystem and beyond. North & West Wings | Explore the remarkable ways that your body and mind work together, the physics of light, flight and lasers and absorb the science behind the solar system, and much more. Frost Science Museum Aquarium’s 31-Foot-Wide Oculus Lens | Photo by Robin Hill Despite major setbacks, the 250,000-square-foot museum is finally opening, and Miamians are ecstatic. Frost Science was supposed to open last summer, but a series of unfortunate events delayed the opening for a year. The Frost Science Museum will be open daily from 9am-6pm and offers Miami-Dade residents a 15% discount off ticket prices. If you, or someone you know, are interested in learning more about the extraordinary transformation of Downtown Miami and how the downtown real estate market is benefiting from this transformation, please contact Michael Light, Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael at (786) 566-1700 or michael@miamiluxuryhomes.com.
Construction Update | Icon Brickell’s Famous Pool Deck Posted on March 6, 2017 by Michael Light Last week, the Icon Brickell Condo Association emailed owners a copy of the current construction schedule for the iconic pool deck, wherein it estimates that the pool deck will be finished on December 15, 2017, right after the most popular weekend in South Florida…Art Basel. Whether the project will run on “Miami” time or not will be up in the air for a while, but we will keep you in the loop! Construction Timeline for the Icon Brickell Pool Deck Icon Brickell officially closed their famous pool deck on December 5, 2016 to make necessary repairs. The Icon Brickell Condo Association announced that it would take approximately 12 months to complete all the repairs to the 15th-floor amenity deck, leaving residents with no alternative pool option.
Miami Luxury Homes Sells Out Club Residence Tower at Park Grove Posted on March 5, 2017April 9, 2017 by Michael Light Michael Light, Director of Luxury Sales at Douglas Elliman, sold the final 2 remaining units in the Club Residence Tower (Tower 3) at Park Grove to two, separate Canadian buyers. Tower 3 at Park Grove is now SOLD OUT! Despite the strengthening of the U.S. Dollar, which has had a negative impact on Canadian buyers purchasing real estate in the U.S., two different clients of mine from Canada still decided to purchase a residence at Park Grove because they fell in love with the project. This just shows that if you have a quality product, it will sell…regardless of market circumstances. The Club Residence Tower was the first of the three towers at Park Grove in Coconut Grove to launch sales and to commence construction. Currently, the Club Residence Tower and Two Park Grove are both on the 21st floor of construction and are set for an official top-off ceremony next week on Wednesday, March 8th. If you are a buyer in Tower 3 at Park Grove, here is a photo of the stunning bay view from the 16th floor: View from Park Grove Club Residence Tower | 16th Floor Construction Tour On Thursday, my wife Jaimee and I were personally invited on an exclusive tour of the Park Grove construction site. During our tour with Project Manager Jason Gilg of Terra Group, we had the privilege of seeing the ground-level of the Club Residence Tower including the lobby, and then we explored the lobby in Two Park Grove (Tower 2). After a quick ride on the buck hoist (construction elevator), we stopped on the 19th floor to check out the incredible views from units at Two Park Grove. Here is the view from unit 19C in Tower 2 at Park Grove: View from Two Park Grove Residence 19C Because of my background in construction, I have been on many construction sites. It is difficult for most people to envision what the “finished product” will look like when touring a project under construction, but not for me. I can look at plans and renderings, then walk a building under construction and see exactly how everything will come together. Let me tell you, Park Grove is exactly what David Martin, President of Terra Group, envisioned when Douglas Elliman launched sales for the project over 2 years ago. Outside: Instead of feeling like there are 3 different buildings with different lobbies, the project offers an overall sense of unity. Each tower seamlessly flows from one to the next through its private gardens and tropical outdoor spaces. Inside: Once I stepped into unit 19C in Tower 2, I immediately noticed the uncommonly-high 12′ ceilings, which most developers do not offer. Also, I noticed there were no interior columns. Most condos in South Florida, unlike Park Grove, have interior columns in the corners of living rooms or bedrooms that obstruct views and kill room flow. All columns in Park Grove are on the OUTSIDE of the building and hidden as to not obstruct one ounce of the water views & Grove skyline. Here, you can see the columns on the outside of the building: Park Grove Towers 2 (Left) and 3 (Right) | During Construction One Park Grove Redesign The plans for One Park Grove (Tower 1) originally included only 54 residences ranging in size from 3,154 to 6,504 square feet. But, because of the overwhelming demand for units in Tower 2, the developer has decided to change Tower 1 units to mirror those in Tower 2. Though One Park Grove’s original design for very large units was amazing, many local residents looking to downsize from 8,000+ square-foot homes wanted more of a modest-sized condo residence. As a result, One Park Grove will now have 72 residences ranging in size from 2,232 to 3,592 square feet. As of today, One Park Grove is already 40% sold, with pricing starting at $2.4M. Park Grove Key Plan for Tower 1 and Tower 2 As David Martin often says “people do not want more, they want to be more.” This is true and relevant to One Park Grove. As I mentioned previously, local residents are looking to downsize for good reason. Instead of “wanting more” living space, they want to “be more” by traveling more with their families, spending more time on their boats and exploring life outside of their homes. Remaining Inventory at Park Grove Now that the Club Residence Tower is sold out, Park Grove as a whole is 83% sold. There are only 6 units remaining for sale in Two Park Grove with the remaining inventory coming from One Park Grove. For example, units 19C & 20C in Tower 2 are both available at $3,606,000 & $3,673,000 respectively, and both have amazing views…just look at the picture above from unit 19C. Status of Construction and Estimated Completion Currently, the Club Residence Tower and Two Park Grove are on floors 21 of construction, with both towers having an estimated completion date between Q4 2017 – Q1 2018. Construction has not yet begun on One Park Grove, but the estimated completion date is on schedule for Q2 2019. About Park Grove Located at 2701 South Bayshore Drive in the highly-sought-after bayfront neighborhood of Coconut Grove, Florida, Park Grove is an ultra-luxury, pre-construction condo development that provides an intimate, luxurious living experience in the truest sense. Situated on the serene, community-valued, bayfront streets of Coconut Grove, but only minutes away from the chic, metropolitan streets of Brickell and the vibrant streets of South Beach, Park Grove offers an ideal place to reside. Designed by a team of world-renowned architects, designers and developers, Park Grove has unprecedented beauty. Park Grove condo residents will enjoy high-class architecture by OMA’s famous Rem Koolhaas, interiors custom designed by the famous William Sofield, known for his historical yet modernist principles and creations of harmony between the aesthetically pleasing and everyday comfort, and the lushly landscaped gardens by Enzo Enea. Park Grove offers all residents unparalleled amenities including luxurious swimming pools spanning 500 feet with private cabanas, state-of-the-art fitness center, private training rooms, indoor/outdoor yoga spaces, bayview dining room for private events, wine cellar, library, curated art gallery, business center, children’s indoor/outdoor play areas, adult gaming room, outdoor amphitheater event space and 5 acres of private parks. Douglas Elliman is the exclusive broker for Park Grove in Coconut Grove. If you, or someone you know, would like more information about purchasing a residence at Park Grove, please contact Michael Light, Broker Associate and Director of Luxury Sales at Douglas Elliman and a proud resident of Coconut Grove. You may reach Michael directly at his office at 305-350-9842, on his cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.
Knight Frank 2017 Wealth Report Released Posted on March 3, 2017March 3, 2017 by Michael Light Knight Frank Residential, the largest real estate consultancy in the world and exclusive partner of Douglas Elliman, just released their 2017 Wealth Report, which reflects the global perspective on prime property and investment. Furthermore, the Wealth Report is a signature international property intelligence publication that provides everyone worldwide with a vast amount of valuable, shareable information and facts about global property and wealth. Download: Knight Frank 2017 Wealth Report A few key features from this year’s Wealth Report reveal that the value of the world’s leading prime residential property markets rose and that investing in Miami real estate gives you an incredible value proposition. The value of the world’s leading prime residential property markets rose on average by 1.4% in 2016, compared with 1.8% growth in 2015, according to the latest results of Knight Frank’s unique Prime International Residential Index (“PIRI“), which tracks the value of luxury homes in 100 key locations around the globe. How many square feet/square meters can USD $1Million buy you around the top luxury markets in the world? Below is a list of the top 20 luxury market cities worldwide broken down into square feet. Notice Miami’s location on the chart, which shows the value proposition of buying real estate in Miami instead of other top destination cities. For instance, you only get 280 square feet of space in NYC per $1Million compared to 850 square feet in Miami. The value proposition for tropical Miami coupled with the fact that Miami has reinvented itself as a creative tech hub, an international cultural destination and financial banking hub….screams….BUY REAL ESTATE IN MIAMI! Monaco: 183 sq/ft (17 sq/m) Hong Kong: 215 sq/ft (20 sq/m) New York: 280 sq/ft (26 sq/m) London: 323 sq/ft (30 sq/m) Geneva: 452 sq/ft (42 sq/m) Singapore: 463 sq/ft (43 sq/m) Shanghai: 495 sq/ft (46 sq/m) Paris: 592 sq/ft (55 sq/m) Beijing: 624 sq/ft (58 sq/m) Sydney: 635 sq/ft (59 sq/m) Los Angeles: 657 sq/ft (61 sq/m) Miami: 850 sq/ft (79 sq/m) Berlin: 936 sq/ft (87 sq/m) Tokyo: 980 sq/ft (91 sq/m) Mumbai: 1,066 sq/ft (99 sq/m) Istanbul: 1,098 sq/ft (102 sq/m) Melbourne: 1,184 sq/ft (110 sq/m) Dubai: 1,744 sq/ft (162 sq/m) Sao Paulo: 1,894 sq/ft (176 sq/m) Cape Town: 2,250 sq/ft (209 sq/m) Knight Frank 2017 Wealth Report | Relative Values Worldwide If you, or someone you know, are interested in learning more about the local real estate market in Miami and Miami Beach, please contact Michael Light, Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Miami Luxury Homes Picks: Top 9 Real Estate Stories of 2016 Posted on January 6, 2017 by Michael Light 2016 was an interesting, but great year, so Miami Luxury Homes has rated its Top 9 Real Estate Stories of 2016…in no particular order. 1. Miami Condo Market is Far From a Bust: Response to the Wall Street Journal 2. New Order Affecting All-Cash Luxury Real Estate Purchases in Miami Starts Today 3. Redesign of Miami Worldcenter—From “Mall” to Open-Air, Lincoln Road-Esque shopping District 4. The Miami River is Experiencing a Resurgence 5. Camp Biscayne’s “Hammock House” Brings the Outside In (VIDEO) 6. Seller Beware: Agents Will Try to “Buy” Your Listing? 7. Canadian Sellers Grab Instant 45% Return Due To Exchange Rate 8. The Mother of all Amenities: Private Jet Parking for Turnberry Ocean Club Buyers 9. Rockwell Island Luxury Homes in Bimini | Exclusive Video Tour of Genting Group Chairman K.T. Lim’s Estate Although many naysayers predicted that the sky was going to fall in Miami, it was far from that. Because of the crazy (GOOD CRAZY) few years we have had with prices skyrocketing, the market had to stabilize itself, and that’s what it did in the 2nd half of 2016…prices leveled off, inventory rose, and we slowly shifted into a buyer’s market. We all know that international buyers LOVE Miami. But, just like a game of whack-a-mole, when one group backs off, another steps up, and that is what is happening with buyers from Canada. According to a recent report by the Miami Association of Realtors, Canadians have surpassed Colombians as the top buyers of South Florida real estate. And, we have seen an even greater number of domestic buyers than ever before. 2017 should be very interesting… If you are interested in learning more about the Miami real estate market, please contact broker Michael Light, Director of Luxury Sales at Douglas Elliman. You may reach Michael on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
MiamiCentral Reveals New Renderings, Tenants & Details! Posted on December 13, 2016December 13, 2016 by Michael Light All Aboard Florida has just revealed a new website, details and renderings about the highly-anticipated MiamiCentral. MiamiCentral is All Aboard Florida’s Downtown Miami express passenger rail service station centrally located at NW 1st Ave between NW 3rd Street and NW 8th Street, within Miami’s true urban core. Its location in the epicenter of Miami allows for the utmost connectivity with public transit options which include the Metrorail®, Metromover®, Metrobus®, City of Miami Trolley Systems, future Tri-Rail Coastal Link® and the new exciting Brightline express train arriving in 2017. MiamiCentral Site Map MiamiCentral Site Map Sketch WHAT IS NEW AT MIAMICENTRAL? MiamiCentral Marketplace CentralFare, MiamiCentral’s unique Marketplace that is scheduled to open in the summer of 2017 will be Miami’s first and only modern food hall experience. Spanning over 50,000 square feet over 2 floors, CentralFare will offer an eclectic variety of vendors from top-quality groceries to grab-and-go food to more sit-down options all in one centralized location. CentralFare has already signed many great tenants that include Della (Plant-based bowls), Parliament (Espresso/Coffee), a 10,000-square foot signature restaurant called Monger (Curated by the famous Voltaggio Brothers), Azucar (ice cream shop), Blackbrick (Asian fusion), Doggi’s (traditional Venezuelan Fare), Miami Smokers (Miami’s uber famous Bacon Boys), Romanicos (homemade chocolate), Rosetta (Italian bakery) and Toasted (New York-style-bagelry). More tenants will be announced soon! MiamiCentral Retail MiamiCentral will introduce a curated mix of top brands and boutiques that will embody the lifestyle of a true city shopper. MiamiCentral Retail Key Plan MiamiCentral Offices MiamiCentral will offer the ideal modern office space located in an urban environment without the usual complications of traffic and lack of transportation options. With rapid connectivity to new markets via a variety of mass transit alternatives including the new intercity express Brightline train, potential for business growth is tremendous. In addition, MiamiCentral’s proximity to major highways and major airports is undoubtedly set to enhance your business’s global appeal. Imagine the ease of traveling by rail to Miami International Airport from MiamiCentral in just 12 minutes. Specifically, MiamiCentral will offer 2 MiamiCentral and 3 MiamiCentral. 2 MiamiCentral will boast 190,000 RSF of first-class office space, while 3 MiamiCentral will offer 90,000 RSF of Class A office space, 35,000 RSF ground-level retail spaces and will be adjacent to the MiamiCentral transit station. MiamiCentral Office Space 2 MiamiCentral 3 MiamiCentral MiamiCentral Residential Parkline Living at MiamiCentral will offer true city living by offering 2 residential towers with spectacular views of the Magic City, along with seamless access to Miami’s best shopping, entertainment, dining and transit connectivity. MiamiCentral’s residential towers will offer over 800 rental units and luxury amenities including a state-of-the-art business center, resort-style pool with cabanas, club room, large private lounge, outdoor dining areas and bars, large activity lawn, ½ mile jogging track and dog parks. Parkline Living Kitchen Flow Through Parkline Living Room Parkline Living Swimming Pool Parkline Living Fitness Center