Miami Real Estate Blog

Mario Chalmers purchases Drake’s condo in Marquis

Samir Patel — Mon, 12 Mar 2012 21:18:27 +0000

Forbes and various other media are reporting that celebrity rapper Drake has sold two combined units in Marquis Condo to Miami Heat starting Point Guard Mario Chalmers. The sales price? $2.5 million. The two units totaled 5,475 square feet of living space on two levels offering 20 foot ceilings in the living area. Drake originally purchased the units for a combined $1,903,000 but spent additional money to upgrade the units. Drake even managed to turn a profit despite the doom and gloom stories you’ve heard about Downtown Miami over the last few years. And good for you Mario Chalmers. Think about all the gas you will be saving by just walking to work. Marquis Condominium is located at 1100 Biscayne Boulevard in Downtown Miami just 5 blocks from the American Airlines Arena and across the street from the currently under construction Museum Park. Chalmers purchase a 49th floor unit in the 63 story tower.

What type of view will Mario be coming home to from now on? Take a look at the photos we took back during construction of the building:

Resorts World Miami Plans Revealed

Samir Patel — Thu, 15 Sep 2011 19:14:51 +0000

Yesterday The Genting group unveiled its vision for their Resorts World Miami project and the Miami Herald wrote about it. This soon was picked up by many other outlets and this massive project is being touted as one of the most important developments in the history of Miami and Florida. See the full article here.

The projected $3 billion master plan calls for four hotels, two condominium towers, more than 50 restaurants and bars and a luxury retail shopping mall. The futuristic design of the project is courtesy of Arquitectonica (known for Icon Brickell, Marquis amongst other prominent local projects). Arquitectonica co-founder Bernardo Fort-Brescia says “This will put Miami on the map and make it a destination.”

Resorts World Miami will contain an estimated 5,200+ hotel rooms, 1,000 condo units, 50 restaurants, lounges, bars and nightclubs and approximately 60 luxury shops. One of the most important features will be convention and meeting space totaling 750,000 square feet which should draw business from other current venues. As being a resident of the area I can’t wait until this project becomes a reality. Until then we can enjoy the renderings.

You can also find a great video introducing the project on the Resorts World Miami website: http://www.rwmiami.com

Resorts World Miami Announced – Miami Heralds’s Building Sold for $236 Million

Samir Patel — Thu, 02 Jun 2011 03:28:18 +0000

In the last week Newspaper publisher McClatchy Co. sold the Miami Herald’s building and land including 14 acres to Genting Malaysia Bhd. for a whopping $236 Million.

According to Mike Speller, President of Resorts World, the future of the lots are expected to become a mixed-use entertainment development with a combination of hospitality, convention, restaurant, retail, residential and commercial uses. The project would create tens of thousands of jobs and be a large draw for tourism.

Here is a video by Chuck Fadely from the Miami Herald on the sale:

Brickell CitiCentre Project in the News

Samir Patel — Fri, 29 Apr 2011 00:11:09 +0000

The Miami Herald has reported that the Brickell CitiCentre project planned by developer Swire Properties (the same Swire which built most of Brickell Key) is moving forward on development. This project would be a great benefit for residents in the area of Brickell Miami. The article by the Herald goes on to state that the project would create 1700 new jobs and has the backing of Mayor Tomas Regalado.
The project which would be designed by Miami-based Arquitectonica would include restaurants, a hotel, office towers and apartments or condominiums, spread over a four-block area connected by bridges and covered walkways. Construction could begin by end of 2011. Swire purchased the land in an all-cash deal some time back.

I also found a video online by local new broadcaster NBC6:

View more videos at: http://nbcmiami.com.

The LeBron James Effect on Downtown Miami Real Estate

Samir Patel — Tue, 17 Aug 2010 02:21:00 +0000

Unless you have been living under a rock in the U.S. you have no doubtedly heard that National Basketball Association top free agent LeBron James has chosen to ‘take his talents to South Beach’. In reality he will be playing home games at American Airlines Arena which is in Downtown Miami (and not South Beach). The Arena sits at NE 6th Street and Biscayne Boulevard. To the South of the Arena is the entrance to the Port of Miami and Bayside Marketplace. Between a block and three blocks to the North of the Arena sit four condominium buildings: Marina Blue, 900 Biscayne Bay, Ten Museum Park and Marquis Condominium.

Soon after LeBron James’ signing with the Miami Heat, one of my clients from Switzerland asked if LeBron James’ move would have an impact on Miami Real Estate. My answer was simple – Absolutely! It will be tremendous for the Downtown Miami area. Season Tickets for the home games had immediately sold out. There will be more winning by the team. Additionally there will be more national television exposure for the team and a side benefit would be more exposure for the City of Miami. Think about the aerial video during the telecasts. So far the team is expected to be Nationally televised 30 times (out of 82 total regular season games). That is a huge number and will likely increase as they will be expect to go through 4 rounds of the post season.

Today it was anounced that 3 retail spaces across from the Arena at MarinaBlue Condominium had been resold. The spaces were purchased by a Sunny Isles Beach investor who paid $2.1 Million for 5,100 square feet. The space is expected to be converted to a restaurant and bar, with possibly a microbrewery. I remember showing a client the full commercial package at Marina Blue in 2008. At the time it was being offered for over $14 Million for roughly 40,000 square feet. Oh do I wish I had a crystal ball back then.

Photo of the Day – Biscayne Wall Downtown Miami Condos (June 7, 2010)

Samir Patel — Mon, 07 Jun 2010 19:55:38 +0000

Wow – a whole week since my last photo post. Sorry it took a while – I was out sick with the Flu. Today’s photo is of the “Biscayne Wall” which is a group of four Downtown Miami Condos at the edge of what would be considered proper Downtown Miami. They are luxury condominium buildings across from the soon to be constructed Museum of Art and Museum of Science in Miami’s Museum Park. Each building offers direct water views from most units. The buildings pictured from left to right are Marina Blue, 900 Biscayne Bay, Ten Museum Park and Marquis Condominium.

You can also see in the photo the lighting under the MacArthur Causeway and the interesting light effect at the top of the Marquis Condominium which spans the 49th-67th floors of the building.

For purchasing information or to schedule a tour of any of these properties please call Samir Patel at 305-503-6183 – Broker of Miami Condo Realty, Inc

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Photo of the Day – Marquis Condominium Terrace (May 31, 2010)

Samir Patel — Mon, 31 May 2010 23:04:11 +0000

Today’s photo is of the humongous terrace from a 3 bedroom condominium unit in Marquis Condominium. Recently one of our buyers bought this apartment from the developer and we assisted them in the flooring installation which came out beautifully. The unit was 2044 sq ft of interior and the terrace was 326 sq ft. Marquis is a private five-star condominium in Downtown Miami. Some of the building features are all glass construction, private elevators, direct waterfront location and flow through floorplans. You can find more information about the building on our page for Marquis Miami Condos. For purchasing information or to schedule a tour of the property please call Samir Patel at 305-503-6183 – Broker of Miami Condo Realty, Inc.

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Photo of the Day – View from Paramount Bay (May 28, 2010)

Samir Patel — Fri, 28 May 2010 15:51:10 +0000

Today’s photo is of the East view from a condo unit in Paramount Bay. Paramount Bay is a five-star condominium scheduled to open by the end of 2010 in the edgewater neighborhood of Miami just North of Downtown Miami. Some of the building features are all glass construction, private elevators, direct waterfront location and flow through floorplans. You can find more information about the building on our page for Paramount Bay Condos. Tours of the property will resume in a few months. For purchasing information or to schedule a tour of the property please call Samir Patel at 305-503-6183 – Broker of Miami Condo Realty, Inc.

Photo of the Day – Downtown Miami Skyline View (May 27, 2010)

Samir Patel — Thu, 27 May 2010 21:34:19 +0000

Today’s photo is of the view of the Downtown Miami skyline from one of our premiere listings – Quantum on the Bay Penthouse 4417. Penthouse 4417 is a 1 bedroom, 1 and a half bathroom condominium on the 44th floor of Quantum on the Bay. The units has been upgraded with marble flooring throughout. It also features one of the best views available in the city. You can see all of the Downtown Miami skyline including the Bank of America building (the one that changes colors every night). You can find more information about the building on our page for Quantum Condos. Penthouse 4417 is currently listed as a Short Sale for $224,900. For purchasing information or to schedule a tour of the property please call Samir Patel at 305-503-6183 – Broker of Miami Condo Realty, Inc.

Photo(s) of the Day – 900 Biscayne Bay Lounge (May 25, 2010)

Samir Patel — Tue, 25 May 2010 21:50:58 +0000

Today’s photos are of the lounge in 900 Biscayne Bay which is located on the 15th level of the building. 900 Biscayne Bay is one of my favorite condo buildings in Downtown Miami. It opened in 2008 and consists of 516 residential units in a 63 storey building. Most of the units have private elevators thus keeping the feel of the building intimate. Units range from 1006 sq ft up to 3793 sq ft. Prices start from just under $400,000 and over 75% of the units have been transferred from the developer to owners. You can find more information about the building on our page for 900 Biscayne Bay Condos. For purchasing information or to schedule a tour of the property please call Samir Patel at 305-503-6183 – Broker of Miami Condo Realty, Inc.