Urban living is the trend! With several multi-projects being under development, November is the month when everybody talks about Miami’s bright future. The year is coming to an end, let’s dream about the years to come.
REAL ESTATE MARKET ANALYSIS IN BRICKELL
It is unanimous, the volume of sales in Brickell have definitely shrunk from 2013 to 2014 for the most popular condos. The Asia Condo sold the same amount of units as last year but the Santa Maria Condo witnessed a 64% decline in its number of apartments sold. It corresponds to an average reduction of 27% in the overall volume of sales for the main Brickell condos. What could be the reason for the current trend?
It looks as if we are making the same observation as in South Beach. Apart from the Asia Condo that underwent a small decrease in price, all best-selling Brickell condos’ prices have risen by an average 11%. As you can see for the below graph, we are witnessing another Miami’s real estate frenzy: Brickell towers are going up and so do their prices!
Funny enough, whereas the reason for the reduction for the volume of sales was still questionable in South Beach, prices and volumes of sales seem to be very much linked in Brickell! Asia, which volume of sales has remained the most steady, is also the only one which price has decreased. Moreover, Santa Maria went through the most impressive reduction in sales and that could be explained by the fact that its price went from $659/sqft to $850/sqft in one year!
It is quite normal to see customers dampened in their purchase decision by such price increases but it still does not impede them from buying! Indeed , I think we still have some good days to come!
MIAMI WORLDCENTER
In a few months, everybody is going to speak about it: the new development in Downtown Miami is the new gossip in town!
Paramount Miami is the undergoing preconstruction in Miami. It will consist of 3 towers and will comprise residences, shopping malls, convention centers and much more! A true way of enjoying urban living. Moreover, it is going to be located at the absolute core of Downtown Miami at the crossroads of all accessible routes. Even better, it will be only a few steps away from all the best Miami venues in terms of culture, entertainment, sport and dining. Paramount Miami will introduce 485 units going from 1000 to 2300 sqft. The smaller units are going to be 1 bed + den / 2 bath of 10 foot ceilings. All of them will have private elevators and oversized 11x12 and 14x15 terraces that are called “outdoor living rooms”. Prices start at $600/sqft and reservations by November 18th. Are you ready?
This huge development is paving the way towards the development of a bigger and brighter Miami that is on the edge of becoming a truly global destination. Miami Worldcenter will be the number one address for retail and contributes to making Miami the place to invest and live in!
Check out the video on our website.
Bagatelle Opening
Miami has another fancy brunch spot coming its way. Bagatelle is a New York City, but also Los Angeles, Saint Barth, Saint Tropez and Sao Paulo, modern French bistro known for its Champagne brunch and it is about to arrive in Miami Beach. It has signed a lease at Boulan, right across the street from the Setai. We are all looking forward to this new French addition to Collins Avenue. The fancy eatery is going to be under the direction of former DB Bistro chef Matthieu Godard.
No word on the exact opening date is has been said yet. We will keep you posted on our Facebook page!
Porfirio’s Opens First U.S. Restaurant in Miami Beach
It sounds like Mexico is coming to Miami this month!
Hotspot Porfirio’s restaurant recently opened in Miami Beach. I went to its South of Fifth’s new address! It is its first US location ever! We can finally enjoy high-end Mexican cuisine in a relaxing atmosphere. The high ceilings make the design look as if you were in a modern cathedral with teardrop lighting falling from the ceiling. There, I sipped one mezcal cocktail before having a ***. The dining space makes you feel like you are in a loft. There are 200 indoor seats and approximately half of it on the outdoor terrace.
The Group in charge of bringing Porfirio to us has planned to also open Harry's concept to Miami.
Now book a table at Porfirio! They serve from 11:30 a.m. to 3 p.m. and from 6 p.m. to 2 a.m.
DEAL OF THE MONTH PH3305
Please discover in exclusivity this new unit just listed on the market!
YACHT CLUB #PH3305
