38 Canadian Real Estate Professionals Tour Miami Pre-construction Projects With Michael Light Posted on November 13, 2015November 13, 2015 by Michael Light Last week, I hosted a group of 38 members from Toronto, Canada’s Building Industry and Land Development Association (“BILD”) for exclusive presentations of Miami’s top pre-construction condo developments. The study tour for the BILD group was primarily to learn how Miami developers are attracting luxury buyers to our Miami market AND many of the individuals on the tour were interested in purchasing pre-construction condos for their own investment purposes. One of the members of BILD is an avid reader of this very blog and thought I would be the perfect broker to work with because of my knowledge of the Miami condo market. About nine months ago, I was approached by BILD to assist them with touring multiple, highly-sought-after pre-construction condo developments in Greater Downtown Miami, including Brickell and Edgewater along with Sunny Isles Beach. I spent the better part of a month putting together the logistics of the tour which took place on Wednesday and Friday last week. On Wednesday, I started the tour with a presentation and breakfast at the Delano Hotel where I presented a snapshot of the Miami condo market, average pricing by neighborhood and an overview of the vast number of new projects either currently under construction or in the planning stages. We went on to receive presentations of Elysee, Gran Paraiso and Aria on the Bay in Edgewater and One Thousand Museum and Paramount Miami Worldcenter in Downtown Miami. On Friday, we began our day by visiting Brickell Flatiron, who hosted a breakfast for the group, and then went on a walking tour through Brickell as I pointed out and described each individual building under construction and existing, on our way to visit Brickell City Centre’s Reach and Rise Towers followed by a visit to Sunny Isles Beach for an amazing presentation of Porsche Design Tower to end the day and the tour. The overall tour was a great success! I made great connections with many developers, brokers looking to refer their clients in the Miami area and others that were interested in individually purchasing investment properties in Miami. The Real Deal attended my presentation on Wednesday at the Delano Hotel prior to the tour, so please CLICK HERE to see the article written by the Real Deal. Michael Light Giving Presentation to BILD Housing Study Tour I would also like to say a special Thank You to all of those who participated and/or supported the tour in Miami! Check out some of the pictures from the tour below! One Thousand Museum by Zaha Hadid Presentation Paramount Miami Worldcenter With The Fabulous Liza Hernandez Porsche Design Tower Presentation If you, or someone you know, are interested in purchasing a condo in Miami, please contact your Miami condo specialist, Michael Light. You may reach me at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Aria on the Bay Luxury Condos are Priced Way Below Market Posted on June 25, 2015June 25, 2015 by Michael Light Aria on the Bay broke ground recently and is currently selling at an average of $552 per square foot. Because Aria on the Bay offers luxury condos with unobstructed water views and the average price per square foot is about 20% lower than other pre-construction condo developments in and around Downtown Miami and Brickell, I am really surprised that there is still inventory available. The project is currently 50% sold with hard contracts, not reservations. Aria on the Bay may be priced at $552 per square foot on average right now, but there are still units available as low as $469 per square foot. Compared to the other new construction projects in the area, Aria on the Bay is a great deal, with luxury amenities, which makes for a great condo investment opportunity! Similar direct-water view units you may find in other projects are selling at $700 or even $800 per square foot. Currently, the A Model (2,365 sq/ft interior & 670 sq/ft terrace) at Aria on the Bay is being offered at $552 per square foot. That is a 3 Bedroom + Den, with 4 Bathrooms, with direct-east/water views for more than $150 per square foot below the market! Aria on the Bay is a 53-story luxury condo tower situated bayfront in the trendy neighborhood of Edgewater, just minutes from Brickell and South Beach. Aria on the Bay consists of 647 luxury condos with expansive floor plans, state-of-the-art appliances and oversized terraces with gorgeous views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline. Aria on the Bay offers residents extraordinary amenities including morning and afternoon swimming pools on custom-designed sun decks with lounge seating, kid’s pool, Jacuzzi, state-of-the-art fitness center with yoga studio and spinning room, wellness spa with private treatments rooms, adult game room, kid’s play room, business center, library, movie theater and indoor/outdoor social lounges. Download the Aria on the Bay Brochure Downtown Miami Site Map If you, or someone you know, are interested in purchasing a condo at Aria on the Bay or simply would like more information on the overall condo project, please contact your Miami condo specialist Michael Light. You may reach me on my cell at (786) 566-1700, at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com. View all Miami Pre-Construction Condos Below are some renderings of the luxury condos at Aria on the Bay. Aria on the Bay Living Room Aria on the Bay Master Bedroom Aria on the Bay Master Bathroom
Aria on the Bay Gets FAA Approval Posted on March 3, 2015June 25, 2015 by Michael Light Aria on the Bay Condos Aria on the Bay, a planned 53-story luxury Miami condo tower, was recently approved for construction by the Federal Aviation Administration (FAA). Developers of Aria on the Bay, the Melo Group, plan to build up to a height of 535 feet despite the FAA suggesting that the limit of new projects east of the Miami International Airport should be less than 475 feet, according to the Real Deal. Although the FAA suggested a lower height limit, Aria on the Bay was approved for its plans. The Melo Group is planning to break ground soon with an estimated completion date set for 2017. Aria on the Bay will consist of 647 luxury condo units, 1,035 parking spaces and approximately 40,000 square feet of commercial space. The project is currently about 50% reserved at an average price per square foot of $536. If you are interested in purchasing a condo at Aria on the Bay, please contact Michael Light, a Miami condo specialist. You may reach me on my cell at (786) 566-1700, at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com.
Question to Investors…Why Miami? Posted on February 11, 2015January 6, 2019 by Michael Light Aria on the Bay Condos According to Investors Choice Lending, both foreign and domestic investors come to Miami to buy investment properties because of the great return on their investment. But why do these investors invest in condos specifically in Miami over other cities? Because studies show that 65% of the population in Miami are renters. The rental population in Miami has majorly increased by about 25% between 2006 and 2013, which is the second highest increase nationwide, according to the Next Miami. Miamians and people wanting to live in the Magic City are willing to pay more than half of their income towards rent. In fact, about 39% of Miami condo renters are paying half of their income or more in monthly rent, which is the second highest in the country, following only New York. With condo renters willing to pay half of their salaries or more in rent, why would an investor not buy in Miami versus another part of the country. Also, with all of the new construction in the Downtown Miami and Brickell area, you can get a great deal if you can get a pre-construction condo at the friends and family pricing phase or tier 1 pricing. If you, or someone you know, are looking for a great investment and are interested in purchasing a condo in Miami, please call me, Michael Light, a Miami condo specialist. I work with clients from all over the world and help clients in determining the best condo investment for their specific needs and wants. It is crucial to have someone knowledgeable in the Miami condo investment market to assist you in your purchase. You may reach me on my cell at (786) 566-1700, directly at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com.
Aria on the Bay Condo Sales – UPDATE Posted on January 24, 2015 by Michael Light Aria on the Bay Condo Sales – UPDATE As most of you know, Aria on the Bay is soon to be a Miami luxury condo tower situated bayfront in Edgewater, the trendiest neighborhood in Miami, offering sophisticated, modern residences and exceptional amenities. Although Aria on the Bay is not scheduled to be completed until late 2017, I just confirmed with the developer that 42% of the entire building has already been reserved, and these reservations will be converted into contracts sometime next week! For those of you teetering on the fence of whether or not to reserve a condo unit at Aria on the Bay, it’s time to make a decision. Right now, the average price per square foot is $536, but the developer confirmed that prices will increase at Aria on the Bay’s official launch party of the new sales office which is currently scheduled for sometime during the week of February 12th. If you are interested in purchasing a condo at Aria on the Bay, please contact me to get the lowest possible price! Download – Aria on the Bay Condo Floorplans Download – Aria on the Bay Condo Brochure Aria on the Bay Keyplan
Aria On The Bay Condos…All About The Atmosphere Posted on August 10, 2014August 11, 2014 by Michael Light Aria on the Bay Condos Aria on the Bay Condos Entrance The newest luxury condo development on the horizon in the Miami Arts District, Aria on the Bay, is all about the atmosphere. Perfectly and centrally located at 1770 North Bayshore Drive, Aria on the Bay Condos is right in the middle of it all—the location could not be any more perfect. Aside from being minutes from every major highway in Miami, Aria on the Bay is minutes from the brand–new Museum Park, the up-and-coming Miami World Center, the highly-anticipated Brickell City Centre, the chicest shops and restaurants at Midtown Miami and the vibrant streets of South Beach. Although Aria on the Bay Condos is right in the middle of it all, it is perfectly situated in a quiet, ultra-modern and luxurious condo development with over-the-top amenities brilliantly designed by the internationally-acclaimed Arquitectonica. Aria on the Bay Condos Amenities Aria on the Bay Condos Morning Pool Aria on the Bay Condos Afternoon Pool Aria on the Bay Features & Amenities Curved morning and afternoon pools situated on sun decks custom-designed with beautiful lounge seating Kid’s Pool Hot tub with panoramic bay view Fitness center featuring a yoga studio and spinning room Exclusive spa and massage treatment rooms Indoor and outdoor adult lounges Adult game room with billiard tables Kid’s play room Library with seating nooks Business Center offering conference and meeting rooms and private offices Cookout fire pit and B-B-Q grilling area Private theater/screening room Free Wi-Fi in all common areas 24-hour concierge services and security Valet parking and assigned parking in secured garage Aria on the Bay Condos Living Room Aria on the Bay Condos Kitchen Aria on the Bay Condos Bathroom Aria on the Bay Condo Features 1-3 bedroom, spacious residences Expansive layouts with 9’ ceilings, floor-to-ceiling beautiful glass windows and some units offer 10’ deep terraces Some residences offer a private elevator Contemporary, European-designed kitchens with Customized cabinets Aria on the Bay Condos Terrace View Aria on the Bay Condo Development Overview Developer: Melo Group Architect: Arquitectonica Landscaping: GEO Number of Residences: 647 Number of Stories: 53 Square Footage Range: 813 – 2,365 (under a/c) Price Range: $365,900.00 – 1,576,900.00 Maintenance Fee: $.60 per sq. ft. Download Aria on the Bay Condos Floorplans Download Aria on the Bay Condos Brochure Aria on the Bay Condo Tower Aria on the Bay Condo Reservations, Deposits & Timing 10% of Purchase Price at Reservation 10% of Purchase Price at Contract 15% of Purchase Price at Groundbreaking 15% of Purchase Price at 25th Floor Balance of Purchase Price Due at Closing If you, or someone you know, would like more information on Aria on the Bay condos or any other condos in the Miami Arts District, please contact Michael Light with Miami Luxury Homes. You can reach him directly at his office at 305-350-9842, on his cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.