MLH Picks: Best Miami Condo Deals on the Market Posted on August 10, 2017 by Michael Light Whether a buyer or seller’s market, when there is a condo in Miami priced to steal, you better jump on it! Below, I have 4 condo deals that are worth considering. All four condos are in the Greater Downtown Miami area, but in different neighborhoods, and whether as a pure investment or a second home, these are extraordinary investment opportunities. Icon Brickell Unit 4511 Living Room Flow Through Icon Brickell Unit 4511 Lowest-Priced High Floor 1-Bed Unit in Icon Brickell! Offered at $389,000 This unit is a modern, fully-furnished 1-bedroom condo on the 45th floor in Tower 1 at Icon Brickell in the epicenter of Brickell, Miami’s financial district. Unit 4511 at Icon Brickell features an expansive layout offering 940 square feet of interior space and a large terrace boasting exceptional views of Biscayne Bay and Brickell Key. This unit features floor-to-ceiling glass windows, neutral 24″ x 24″ porcelain flooring and an open-concept kitchen with integrated Sub-Zero, Wolf and Bosch appliances, Italian cabinetry and stone countertops/backsplash. This unit also offers a spacious bedroom with a large walk-in closet and spa-like bathroom with dual vanity and bathtub/shower combination. Icon Brickell features 5-star amenities including a full-service spa and fitness center, 2-acre park terrace and pool deck, 300-foot-long pool, 30’x30′ hot tub, 2 full-service bayside restaurants, 24-hr valet and personalized concierge services. Icon Brickell is ideally located in the heart of Brickell, Miami’s financial district, walking distance from Brickell City Centre, Mary Brickell Village and an eclectic variety of dining, shopping and entertainment. Brickell Heights East Rooftop Pool Lowest-Priced 1-Bed + Den Unit in Brickell Heights! Brickell Heights Unit 1905 Brickell Heights Unit 1905 is the lowest-priced, fully-upgraded, 1-bedroom + Den / 2-full-bathroom condo in the entire project. Offered at $450,000 Unit 1905 is a fully-upgraded, 1-bedroom + Den, 2-full-bathroom unit in the east tower of the brand-new Brickell Heights development, situated in the epicenter of Brickell, just steps from Brickell City Centre, overlooking Mary Brickell Village and the vibrant Brickell skyline. This modern unit offers a spacious, open-concept layout offering 965 square feet of interior space boasting high ceilings, floor-to-ceiling glass windows and sliding doors throughout, beautiful wood-grained porcelain flooring, upgraded custom closets, a custom European-style kitchen by ItalKraft and an in-unit laundry pantry with washer and dryer. This condo also offers 2 full bathrooms, which is not common for a 1-bedroom plus den unit in Miami. The master bathroom features a dual vanity sink and a rain shower and soaking tub combination. The second bathroom offers a spacious glass-enclosed shower with porcelain wet walls. Unit 1905 also features a large terrace with sleek glass and aluminum railings, wood-grained porcelain flooring and offers spectacular views of Mary Brickell Village, the Brickell skyline and partial water views of Biscayne Bay. Brickell Heights boasts exceptional resort-style amenities that are so impressive, they have already been featured in Curbed! The amenities include a rooftop pool deck on both east and west towers, a 9-th floor pool deck with swimming and lap pools, high-tech gym, urban garden, 2 entertainment rooms, kid’s room, state-of-the-art business center, theater and 24-hr concierge and valet services. Brickell Heights is also home to 2 of the most popular and exclusive fitness clubs in North America…a 35,000-square-foot Equinox Fitness Club & Spa and a 3,500-square-foot Soul Cycle. The new owner of Unit 1905 will receive a complimentary Equinox membership through and including June of 2018! Bay House Unit 2303 Kitchen to Dining Room Flow Through Bay House Unit 2303 Lowest-Priced Fully-Upgraded 3-Bedroom Unit in Bay House! Offered at $688,888 Unit 2303 at the newly-built Bay House situated in the highly-sought-after bayfront neighborhood of Edgewater is a beautiful 3-bedroom, 3-full-bathroom condo with a private elevator and foyer offering an expansive floor plan with 1,646 square feet of interior luxury living space. This unit boasts floor-to-ceiling windows and glass doors throughout so that you may appreciate the natural beauty of the sparking waters of Biscayne Bay from every room. This condo also features Lutron lighting, Nest thermostat & cameras and gray wood-grained porcelain flooring throughout, as well as an open-concept kitchen with Italian cabinetry, Quartz countertops, painted glass backsplash, eat-in island with painted glass wall and premium stainless-steel appliances. The spa-inspired bathrooms all feature Italian cabinetry, Quartz countertops and 32-inch marble flooring and marble wet walls, with an oversized rain shower in the master bathroom and a shower/bathtub combination in the second and third bathrooms. Unit 2303 boasts a large 220-square-foot terrace with the same wood-grained porcelain flooring as the interior living space, which is not always common in Miami condos. This unit also offers a pantry with an in-unit washer and dryer and 2 assigned, secured parking spaces that are side-by-side on the second floor. Bay House Unit 2303 is the lowest-priced fully-finished upgraded condo in the entire building. Bay House offers luxury amenities including a resort-style pool deck with an infinity-edge swimming pool, private cabanas, BBQ area and seating, pool club room, state-of-the-art fitness center, yoga studio, media room, business center, kid’s play room, 24-hour security and valet parking. Courvoisier Courts LPH-12 View Courvoisier Courts LPH-12 Lowest-Priced 3-Bedroom Penthouse on Brickell Key! Offered at $879,000 Situated on the exclusive island of Brickell Key, with direct bay and ocean views, this Penthouse unit on the 26th floor offers 1,655 square feet of interior space and 180 square feet of terrace space with direct water views. LPH-12 boasts 10-foot ceilings, porcelain flooring, floor-to-ceiling sliding glass doors, a spacious kitchen with Corian countertops, white cabinetry and stainless-steel appliances and an in-residence washer and dryer. This unit also includes 2 secured garage parking spaces. Courvoisier Courts features luxury amenities including a pool deck overlooking Biscayne Bay featuring an infinity-edge pool, spa, 2-level fitness center, racquetball/squash court and club room. Courvoisier Courts also offers 24-hour security, concierge service and valet parking. Courvoisier Courts is ideally located on the gated island of Brickell Key in the Greater Downtown Miami area, just minutes from the highly-celebrated Brickell City Centre and Mary Brickell Village and only 15 minutes from the Miami International Airport. If you, or someone you know, are interested in purchasing a luxury home or condo in South Florida, please contact Michael Light, Director of Luxury Sales at Douglas Elliman and the 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.
LISTED & SOLD IN 6 DAYS | Bay House Unit 2303 is Under Contract! Posted on February 15, 2017February 15, 2017 by Michael Light Yes, we listed and sold Bay House unit 2303 in only 6 days directly to a local buyer! A lesson to sellers: When a property is priced correctly and, most importantly, has a great marketing plan including hi-res, professionally shot photography, it will sell near the asking price in a short period of time! As Howard Lorber always says, “100% of overpriced listings will not sell.” The stunning 3-bedroom, 3-bathroom unit overlooking Biscayne Bay and the Atlantic Ocean in the newly-built Bay House condo tower features an expansive layout with floor-to-ceiling windows and glass doors throughout to allow an abundance of natural light and capture the incredible picturesque views from each room. Bay House Unit 2303 Terrace If you, or someone you know, are interested in effectively marketing and selling your home in South Florida, please contact broker Michael Light of Douglas Elliman. You may reach Michael on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. About Bay House Completed in 2015, Bay House is a modern, 38-story condo tower, situated in the bayfront neighborhood of Edgewater in Miami’s famed Arts District, just minutes from an eclectic variety of shopping, dining and entertainment. Bay House offers 165 luxury residences with open-concept floor plans boasting floor-to-ceiling, impact-resistant windows and glass doors, modern kitchens with Italian cabinetry and premium appliances, spa-inspired bathrooms and spacious terraces with sweeping views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline. Bay House features resort-style amenities including an expansive pool deck with an infinity-edge swimming pool, private cabanas, BBQ area and seating, club room, high-tech fitness center, separate yoga studio, media room, business center, children’s play room, 24-hour security and valet parking.
JUST LISTED | 3 Bed/3 Bath Condo at Bay House Offered at $688,888 Posted on February 5, 2017 by Michael Light Miami Luxury Homes has just listed a gorgeous 3-bedroom condo with direct water views at the newly-built Bay House situated in the highly-sought-after bayfront neighborhood of Edgewater. Unit 2303 at Bay House is a modern condo with a private elevator and foyer offering an expansive floor plan with 1,646 square feet of interior luxury living space boasting floor-to-ceiling windows and glass doors throughout so that you may appreciate the natural beauty of the sparking waters of Biscayne Bay from every room. Bay House Unit 2303 Private Elevator Foyer Bay House Unit 2303 Living Room Bay House Unit 2303 Terrace This 3-bedroom, 3-bathroom residence features Lutron lighting, Nest thermostat and gray wood-grained porcelain flooring throughout, as well as an open-concept kitchen with Italian cabinetry, Quartz countertops, painted glass backsplash, eat-in island with painted glass wall and premium stainless-steel appliances. The spa-inspired bathrooms all feature Italian cabinetry, Quartz countertops and 32-inch marble flooring and marble wet walls, with an oversized rain shower in the master bathroom and a shower/bathtub combination in the second and third bathrooms. Unit 2303 boasts a large 220-square-foot terrace with the same wood-grained porcelain flooring as the interior living space, which is not always common in Miami condos. This unit also offers a pantry with an in-unit washer and dryer and 2 assigned, secured parking spaces that are side-by-side on the second floor. Bay House Unit 2303 is the lowest-priced fully-finished condo in the entire building, so whether you are looking to purchase this unit as an investment, your primary residence or as a 2nd home, this is a great investment opportunity! If you, or someone you know, are interested in purchasing unit 2303 at Bay House in Miami, please contact listing broker, Michael Light of Douglas Elliman for a private viewing of the luxury residence. You may reach Michael on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Bay House Unit 2303 Kitchen Bay House Unit 2303 Flow Through About Bay House Bay House is a new, 38-story luxury condo tower, situated along Biscayne Bay in the highly-sought-after Edgewater neighborhood of Miami, Florida. Offering 165 luxury residences, Bay House features expansive floor plans with floor-to-ceiling windows and glass doors, modern kitchens with Italian cabinetry and premium appliances, spa-like bathrooms and oversized terraces with sweeping bay and city skyline views. Bay House features luxury amenities including a resort-style pool deck with an infinity-edge swimming pool, private cabanas, BBQ area and seating, pool club room, state-of-the-art fitness center, yoga studio, media room, business center, kid’s play room, 24-hour security and valet parking. Bay House is ideally located in the Miami Art’s District, just minutes from an eclectic variety of fine-dining and casual restaurants, posh shopping and entertainment and only 15 minutes from the Miami International Airport. Bay House Unit 2303 View
Bay House Condos to Begin Closings in May Posted on March 23, 2015March 27, 2015 by Michael Light Bay House Condo Tower Under Construction Bay House, situated in the hautest neighborhood in Miami, Edgewater, is rapidly progressing as you can see by the pictures I took this weekend. Bay House condos, complete with stunning views of Biscayne Bay and the vibrant Miami Beach skyline, consists of 165 condo residences. 99% of these condo units are under contract with an average sales price per square foot of $510. Only Penthouse 1 and Penthouse 2 at Bay House remain as available for sale. Closings will begin on Bay House condos in May, and closing notices will go out to buyers within the next 2-3 weeks. If you, or someone you know, are interested in purchasing one of the remaining penthouse condos at Bay House, or have already purchased a Bay House condo and would like to list your condo on the market for sale or rent once you close, please contact Michael Light, your 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. See below for additional pictures of Bay House under construction. Bay House & The Crimson Condo Towers Under Construction Bay House Under Construction Bay House Under Construction Bay House Under Construction Bay House Under Construction
Why You Should Buy a Miami Pre-Construction Condo Posted on November 18, 2014February 11, 2015 by Michael Light Miami Condo Skyline With over 170 residential condo towers currently in planning or construction stages in Miami-Dade County, it is important for you to know why you should buy Miami pre-construction condos while you still can! Pricing Tiers Miami pre-construction condos are usually sold in tiers, meaning that only a limited amount of inventory is released at a time to take advantage of supply/demand. If you purchase a condo during the first tier, which is also referenced as phase 1 pricing or friends and family pricing, you can lock in a price below any of the other subsequent tiers. For example, sales at Paramount Miami Worldcenter condos were launched last week. Of the 470 total condo units in the building, only 60 units were released and are available with tier 1 pricing. Prices for these 60 units start at $533 per square foot. Once these first tier units are sold, the developer will raise prices for tier 2, tier 3 and so on. Furthermore, a tier 1 buyer can secure a condo at $533 per square foot whereas a tier 4 buyer could purchase the exact same unit on a lower floor but pay 10%, 20% or even 30% more. Built-In Equity Miami pre-construction condos also provide investors with instant equity because of the pricing tier model. Not only will you see equity by purchasing in an earlier tier, but you will also gain equity naturally though market increases in the surrounding buildings and neighborhood. It usually takes about 2-3 years to complete construction, and the condo market in Miami can change dramatically over that time period. For example, I have a client that secured a Bay House condo in Miami’s Edgewater neighborhood during tier 1 at $397 per square foot. Bay House is now 95% sold out and is in final tier pricing. If you analyze all of the waterfront, new construction projects in Edgewater, the average price per square foot is currently around $600. My client is looking at equity of over 30%, and he hasn’t even closed on his unit yet! If he decides to sell the unit after closing, he will receive a great return on his investment. Pre-Construction Condo in Brickell Resale “Flipping Contracts” was quite popular during the last condo boom but is frowned upon today by developers. The solution to this is simple…keep the condo for the entire term, close on it and then sell. Since construction takes between 2-3 years, this allows an extended amount of time for the condo unit to increase in value. Miami is a truly unique city with a one-of-a-kind luxury condo market that attracts people from all over the world. There will always be a high demand for condos from international buyers. For example, I have 2 clients who purchased pre-construction condos at Millecento, which is located in Brickell. They are ready to sell their units as soon as closing occurs, which should be in Q1 2015. Both of them paid $400 per square foot for their units even though today the average for a new construction condo in Brickell is about $600 per square foot. These sellers are going to get more than a 30% return on their Miami pre-construction condo investment. This enormous growth is providing investors with an extraordinary resale opportunity. The most important aspect to consider when purchasing a Miami pre-construction condo unit is choosing a Miami real estate agent who you trust AND is a Miami condo specialist. This is crucial since there are currently over 170 condo buildings being built in Miami-Dade County. If you are looking for a Miami real estate agent who you can trust, has sold many pre-construction condos in Miami and has direct knowledge, inside and out, of the entire Miami condo market, then I am the Realtor® for you! If you are interested in purchasing a pre-construction condo in Miami, please contact me on my cell phone at (786) 566-1700, at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com. And remember, the Miami pre-construction condo market is hot! Condos sell extremely fast during early tier pricing, so put in your reservation today.
Edgewater: Miami’s Newest Chic Neighborhood Posted on November 10, 2013 by Michael Light The Edgewater District, a once-blighted bayfront neighborhood, is quickly becoming a chic residential destination, attracting developers and residents alike. The revival of Edgewater has been driven in large part to its proximity to the Design District and Midtown, however the big draw, of course, is the bayfront. Unofficially, the district is bounded by Northeast 17th Street to the south, stretching north to the Julia Tuttle Causeway at 36th Street and from Biscayne Bay west to the railroad tracks west of Biscayne Boulevard. Miami’s permissive zoning has allowed for the development of high-density mixed-use projects, leading to rapid gentrification of the area once inhabited exclusively by the homeless. Biscayne Boulevard, a major thoroughfare, runs through the center of the district, offering dining, shopping and other amenities, such as the Publix supermarket that recently opened in the area. Additionally, Margaret Pace Park offers bayfront outdoor amenities. During the last two condo booms, Brickell and Downtown Miami have been nearly built out. Edgewater, however, still has developable land for projects that can offer bayfront views. As a result, developers have been purchasing parcels for the construction of residential towers, causing land prices to soar. The Miami-based Related Group (“Related”) recently purchased 4.5 acres of bayfront property at Northeast 31st Street for $29 million, which previously sold in 2012 for $11.5 million. Additionally, Related has broken ground on Icon Bay, a luxury residential tower located at 428 Northeast 28th Street. Pre-sales of units, which were offered beginning in September 2012, have nearly sold out thanks in part to a large demand from foreign buyers willing to put down fifty percent (50%) or more of the price for pre-construction units. AXA Developers and Strategic Properties Group recently purchased a 2-acre site at 545 Northeast 32nd Street for nearly $20 million with plans to build a condominium tower. The property was previously intended for a project called ICE, which was scuttled as a result of the market downturn. This is just one of a few properties given new life due to the sudden increase of development within Edgewater. In addition, Mckafka Development Group (“Mckafka”) foreclosed on a mortgage they held on 623 Northeast 27th Street. They acquired the note for this property nearly two years ago for $2.1 million. Mckafka developed plans to build a 90-unit building called The Crimson on this property, for which they are currently taking reservations. The Melo Group (“Melo”), a family-run development firm, has been on the leading edge of the development of the Edgewater neighborhood. Melo has been buying land in Edgewater since 2001, and has already developed 10 rental and condo projects totaling 1,700 units, with land holdings sufficient for 2,800. Skyview, Melo’s most recent completed project is a 32-story, 258-unit apartment building located at 425 Northeast 22nd Street. Also, Melo is close to breaking ground on Bay House, a 36-story condominium tower with 164 units, located at 600 Northeast 27th Street on a 1-acre site purchased last year for $5.5 million. Melo also just obtained $22 million in financing for 26 Plaza Tower, a 12-story condominium project, located at 162 Northeast 25th Street, which broke ground last month. With prices averaging between $450 – $550 per square foot in Downtown Miami and Brickell, buyers are finding it difficult to find a “deal”. Projects such as Bay House, The Crimson, Biscayne Beach, Paraiso Bay and Icon Bay are providing buyers the opportunity to buy brand-new construction starting under $400 per square foot WITH spectacular views of Biscayne Bay. Seeing where Edgewater is heading, securing a condo in one of these new towers now is like being able to “see ahead of the curve” with regards to future value. If you, or someone you know, are interested in purchasing a condo in Edgewater, please contact me. I appreciate the opportunity to earn your business. Here are some additional photos of new condo towers in Edgewater: Biscayne Beach Residences Bay House Condos The Crimson Residences Paraiso Bay Residences Icon Bay Condos