Amenities include car elevators, private rooftop pools, whiskey bars, tri-level penthouses and a 2-acre open-air recreation deck
By Bill Cary Originally Published Sept. 20, 2021
CLICK HERE to view the original published article in Mansion Global
Fueled by comparatively low taxes, baby boomers, low interest rates and an ongoing influx of new first- and second-home buyers from across the U.S., real estate in Miami-Dade County continues to surge ahead with record-breaking numbers.
In the second quarter of this year, Miami-Dade County’s total home sales shot up 142.4% compared to the same quarter in 2020, from 4,766 to 11,553, according to the Miami Association of Realtors and the Multiple Listing Service system. In the $1-million-and-up luxury market, single-family home sales more than quadrupled to 942 transactions, and luxury condo sales increased more than sevenfold to 917 transactions in the second quarter.
“The luxury market in Miami has just been on fire and the whole world is talking about it,” said Anna Sherrill of ONE Sotheby's International Realty. “We’ve always had buyers from New York, Boston and Chicago, and now California as well.”
“We have plenty of buyers, but not a lot of product that is finished and move-in ready,” she said. “The demand is really there. It’s a great market for sellers.”
“Covid changed things,” she added. “People want to be in boutique buildings with larger and fewer units, or they’re looking for a single-family home. The buildings that offer privacy, with just one or two units per floor, have done really well.”
Martin Melo of Melo Group, which is launching a new 62-story condo waterfront development called Aria Reserve in the heart of Miami’s Edgewater neighborhood, echoed Ms. Sherrill’s assessment of the market.
“Miami is booming,” he said. “The city is getting very strong demand right now, and people are buying to live here, not as an investment.”
People are looking for larger apartments with a higher bedroom count, Mr. Melo said. “They are looking for waterfront—they want that connection with the water.”
“We think it’s the beginning of a new cycle,” he added.
Nicolas Barbara, sales director at Aria Reserve, said that Melo was “seeing a huge uptick in the number of domestic buyers and a big influx of people from the Northeast.”
“This is the last waterfront frontier in Miami,” he added. “Five acres on the water is just unheard of in Miami.”
Let’s take a closer look at Aria Reserve and the other new projects launching sales in Miami-Dade.
This new luxury waterfront development in the heart of Miami’s Edgewater neighborhood will feature 62-story twin condo towers and a large amenity deck spread across 5 acres on Biscayne Bay. The development has 550 linear feet of direct bay frontage, with views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline.
Every residence will include two private elevators, a dedicated office/bonus room, at least 10-foot-high ceilings, and open flow-through layouts with expansive 11-foot-deep east- and west-facing outdoor terraces boasting sunset views to the west and bay and ocean views to the east. A collection of 15 penthouses will also be available, ranging from 3,500 to more than 9,000 square feet, each with its own personal three-car garage vault. Three tri-level penthouse mansions will feature private rooftop decks with pools and summer kitchens. On the ground floor along 23rd Street, Melo Group is developing a public park with open green space that will connect to the Miami Baywalk, providing direct access to the five-mile-long pedestrian and bicycle-friendly waterfront promenade that runs along Biscayne Bay.
Sales for the South Tower are launching now, with construction slated to begin in early 2022 and final delivery in 2024.
Photo credit: Melo Group
Number of units: 391 units in the South Tower
Price range: $850,000 to $2.5 million for the residences, $3 million to $12 million for the penthouses
Developer/Architects: Melo Group/Arquitectonica
Residence sizes: 1,100 to 2,600 square feet for the one-, two-, three- and four-bedroom units; 3,500 to 3,800 square feet for the single-story penthouses; 9,000 to over 10,000 square feet for the tri-level penthouse mansions
Amenities: The 2-acre open-air recreation deck will feature a lap pool and whirlpool spa, a children’s splash pad, a playground area, a teen lounge and gaming center, a theater, tennis courts, basketball courts, paddle courts, a miniature golf course, and an indoor/outdoor wellness center with spa/steam/sauna facilities, massage rooms, a gym, a yoga lounge and a meditation garden. Other amenities include a two-story lobby, a waterfront restaurant and café, two additional pool and lounge areas with spas and poolside daybeds, a fire pit, a dog park, a telescope observatory area, and a custom-designed watersports dock with paddleboards, kayaks and inflatables.
Five Park Miami Beach
500 Alton Rd., Miami Beach
At 48 stories, the Five Park tower is expected to become Miami Beach’s tallest residential condo tower when it is completed in 2023. The upper 22 floors of the tower, which is at the entrance to Miami Beach, will feature luxury condos and the lower floors will be luxury rental apartments. The cylindrical shape of the tower is designed to offer efficient floor plans and maximize the abundant natural light and expansive bay, ocean and city views throughout the building. Elevators open directly into the units, which will feature 10-foot ceilings, open floor plans and 10-foot-wide sliding doors from the living room to the terrace. The primary bedroom suites will have large walk-in closets and custom Gabellini Sheppard bathrooms.
East-facing condo units will have expansive views of Miami Beach, with the Atlantic Ocean in the distance. West-facing units have views of Biscayne Bay and the Miami skyline.
Adjacent to the project is the new 3-acre Canopy Park, which features a Monstrum children’s playground, an outdoor gym, pedestrian and bike paths, picnic areas, a dog park, native shade trees and gardens, and art installations. The park, which was designed by ArquitectonicaGEO and West 8, will be completed this fall. A gateway pedestrian bridge by the artist Daniel Buren will connect the park and tower to the South of Fifth and West Avenue neighborhoods and provide residents with waterfront access. Both the tower and the bridge are expected to be completed in late 2023.
Photo Credit: Courtesy of Five Park
Number of units: 98 luxury condos
Price range: Starting at $2.6 million
Developer/Architect: TCH 500 Alton, LLC/Arquitectonica
Residence sizes: Two- to five-bedroom fully finished residences from 1,434 to 6,060 square feet
Amenities: Multiple amenity floors and decks will offer a residents’ beach club, adult and children’s pools, a private club with bars and lounges, wellness and fitness facilities, a spa with treatment rooms, a co-working business suite, 24-hour concierge and butler service, a children's learning lab, a teen club, luxury short-term guest suites for friends and family, a screening room and a children’s play area.
Bentley Residences
18401 Collins Ave., Sunny Isles Beach The British luxury automotive brand Bentley Motors is teaming with Dezer Development to bring a 749-foot-tall, 60-plus-story condo tower to Sunny Isles Beach, the world’s first Bentley-branded luxury residences. The cylindrical tower will feature floor-to-ceiling windows and both ocean and bayside views. A patented car elevator will enable each residence to include an in-unit multi-car garage, allowing for up to four cars to be securely stored alongside the apartments. Homes in the Bentley Residences will feature a private balconies, pools, saunas and outdoor showers. The building is being designed in accordance with the Florida Green Building Council certification and other environmental regulations to protect the environment and minimize the impact of the development on local wildlife, including endangered sea turtles. The tower will also be designed and engineered to reduce energy consumption.
Bentley Residences is scheduled for completion in 2026, with construction estimated to begin in early 2023. The sales gallery will open at the end of 2021.
Number of units: 210
Price range: $3.85 million and up
Developer/Architect: Dezer Development, in partnership with Bentley Motors/Sieger Suarez Architects
Residence sizes: Starting at 5,000 square feet
Amenities: The expected amenity package will include a gym, a pool, a spa, a cinema, a whisky bar, a restaurant and lounge, cabanas and landscaped communal gardens.
MR C Residences | Tigertail, 2678 Tigertail Ave., Coconut Grove
Mr. C is introducing its second residential tower in Miami, Mr. C Residences Tigertail on lush Tigertail Avenue in Coconut Grove. Designed by Meyer Davis in collaboration with fourth-generation Cipriani brothers Ignazio and Maggio, the development will offer panoramic water and city views and easy access to fine dining, retail and parks as well as beaches and boating. The designer condos feature open one-, two- and three-bedroom and penthouse floor plans, floor-to-ceiling glass windows and private terraces. Tower sales are launching in September, and construction is expected to wrap up in the fourth quarter of 2023.
Photo Credit: Courtesy of Mr. C Residences | Tigertail
Number of units: 138
Price range: Mid-$500,000s up to over $3.7 million for the residences, with the penthouses starting at $4.5 million
Developers/Architect: CG Summer Investments, LP/Arquitectonica
Residence sizes: One-bedroom units starting at 648 square feet, up to 2,053 square feet for the three-bedroom homes and 3,723 square feet for the penthouses
Amenities: The Tigertail tower will feature a private rooftop pool and bar overlooking downtown Miami, a garden-level lap pool, a playroom for children, indoor-outdoor working areas with offices and board rooms, and a fully outfitted gym with whole-body stretch, cardio and weights zones.
La Baia, 9201 East Bay Harbor Drive, Bay Harbor This waterfront development will offer an eight-story building with 68 luxury condos and a private 20-slip marina on Biscayne Bay in the enclave of Bay Harbor Islands. It features direct ocean access, 30,000 square feet of resort-style amenities and panoramic views of the Atlantic Ocean, Biscayne Bay and the Miami skyline. The residences will be delivered with fixtures and finishes curated by Durukan Design. Two-story duplex residences featuring balconies on both floors and flow-through penthouse residences with east-to-west views are also available. Other details include custom Italian cabinetry by Snaidero, fully integrated Miele premium appliances, Hansgrohe fixtures and wide-plank European wood flooring. Sales are slated to launch in September with a planned December groundbreaking. The 23-month construction schedule calls for a November 2023 delivery date.
Number of units: 68 condos
Price range: Starting from $810,000, with penthouses starting at $1.9 million
Developer/Architect: Ian Bruce Eichner of the Continuum Company/Revuelta
Residence sizes: One- to four-bedroom units ranging from 1,100 to 2,500 square feet, two-story duplexes featuring three bedrooms and three-and-a-half bathrooms, and penthouses featuring three bedrooms and three-and-a-half bathrooms.
Amenities: The amenity package includes a 6,000-square-foot roof deck with a pool, a children’s splash pad, an adult soaking spa, an outdoor bar and panoramic views. The marina will have 20 boat slips, pick-up/drop-off for boat rentals and a water sports launch dock for kayaking, paddle boarding and other water activities. Other amenities include a ground-floor wood deck terrace with hammock coves, a third-floor deck with outdoor lounge seating and a stretching/meditation lawn, a fitness center, a pet washroom and a residents club room.
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To view the original publication, please visit: https://www.mansionglobal.com/articles/boom-times-continue-in-miami-with-a-new-flock-of-developments-ready-to-launch-sales-228703