Miami WorldCenter Phase One Timeline

It is an accelerating feeling to witness how one of the largest and lavish private projects in the United States starts to develop to bring eventually millions of visitors and to generate thousands of local jobs boosting our economy.

Construction on phase one of the mixed-use Miami Worldcenter project will begin in the first quarter of 2015, the developers announced Wednesday.

The first phase of the 10-block site will include an expo center, retail tenants, residential towers and a Marriott Marquis hotel. Vertical construction on the project will begin mid-2015.Nitin Motwani and Art Falcone are the principals on the 29-acre project, which gained critical zoning approvalfrom Miami commissioners a couple of weeks ago. The project is expected to bring $2 billion in new investment to downtown Miami, according to the developers. * The Real Deal.

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

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Institutional Investors Ramping Up Record Deals in Miami

South Florida is attracting a major share of institutional investors, or firms that purchase at least 10 properties each calendar year. According to a report in the Daily Business Review citing RealtyTrac’s newest data, the Miami-Fort Lauderdale metro area was seventh nationally, with the institutional investor market share leaping to 8.6 percent from 6.3 percent a year ago. In October, a CBRE investment fund acquired Airport Corporate Center, an 11-building office park near Miami International Airport. This summer, an undisclosed corporate buyer paid $150 million for CityPlace Tower, a 295,933-square-foot office building in West Palm Beach. Patrick Duffy, a vice chairman in commercial broker Newmark Grubb Knight Frank’s Miami office, said 90 percent of the large deals are by REITs, insurance companies and pension funds. “They’re setting records in Miami Beach every day. And they’re the main buyers of trophy buildings around the country,” he told the publication. *Daily Business Review

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

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NY Developer will Co-develop Villa Magna In Brickell Bay

NY MG Properties will Co-develop Villa Magna In Brickell Bay 

New York-based MG Properties has joined forces with Tibor Hollo's Florida East Coast Realty in this new Brickell project. Frank McCourt’s MG Properties, in partnership with Tibor and New York-based Corgin Real Estate Group, is embarking on its first Miami venture, The Real Deal has learned. McCourt is joining a development team for a 1.8 million-square-foot high-end condominium project on the last remaining development site on the Brickell waterfront. The 2.5-acre site at 1201 Brickell Bay Drive on Biscayne Bay can hold as many as two 60-story towers. The properties would offer views from South Beach to Key Biscayne. “1201 Brickell Bay Drive, with its enviable waterside location and other attributes, is a great strategic fit for us,” Drew McCourt, president of MG Properties, said in a statement.  * The Real Deal

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

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Miami Real Estate October Market Summary

Miami Real Estate October Market Summary

Miami continues to experience population growth, interest from foreign and domestic second home buyers, and economic expansion," said 2014 Chairman of the Board of the Miami Association of Realtors Liza Mendez. "The Miami real estate market continues to strengthen due to demand for local properties, as evidenced by sales that exceed record activity in 2013."

2,712 Residential Sales in October

Single-family home sales in Miami-Dade County increased 13.6 percent relative to October 2013, from 1,060 to 1,204. Condominium sales increased 6.5 percent from 1,416 the previous year to 1,508 last month. Combined, residential real estate sales increased 9.5 percent to 2,712 compared to 2,476 in October of last year. 

22.3% Average Sale Price Increase for Condos

The median sale price for single-family homes increased 9.1 percent, up to $240,000 from $220,000 in October 2013. The average sale price for single-family homes decreased 6.6 percent from $421,546 in October 2013 to $393,515 last month.

Compared to October 2013, the median sale price for condominiums increased by 8.8 percent to $185,000 from $170,000 a year prior.  The average sale price for condominiums increased 22.3 percent to $362,657 from $296,568 in October 2013.

Single Family Homes sold in 43 Days 

Miami properties continue to sell rapidly and at nearly asking price, reflecting strong demand.

The median number of days on the market for single-family homes sold in October was just 43 days, an increase of 7.5 percent from October 2013. 

The median number of days on the market for condominiums sold in October was 58 days, an increase of 31.8 percent compared to the same period in 2013.

93.7% Average Sales Price of Asking Price for Condos

The average percent of original list price received for single-family homes was 95.3 percent, down a negligible 1.0 percent from a year earlier.

The average sales price for Condos was 93.7 percent of the asking price, a decrease of 3.9 percent. *Miami Association of Realtors & World Property Channel

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

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Miami Condos Are Sold in 58 Days

Miami Real Estate October Market Summary (2)

Miami continues to experience population growth, interest from foreign and domestic second home buyers, and economic expansion," said 2014 Chairman of the Board of the Miami Association of Realtors Liza Mendez. "The Miami real estate market continues to strengthen due to demand for local properties, as evidenced by sales that exceed record activity in 2013."

Single Family Homes sold in 43 Days 

Miami properties continue to sell rapidly and at nearly asking price, reflecting strong demand. The median number of days on the market for single-family homes sold in October was just 43 days, an increase of 7.5 percent from October 2013.The median number of days on the market for condominiums sold in October was 58 days, an increase of 31.8 percent compared to the same period in 2013.

93.7% Average Sales Price of Asking Price for Condos

The average percent of original list price received for single-family homes was 95.3 percent, down a negligible 1.0 percent from a year earlier. The average sales price for Condos was 93.7 percent of the asking price, a decrease of 3.9 percent. *Miami Association of Realtors & World Property Channel

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

1,508 Condos Sold in Miami During October

Miami continues to experience population growth, interest from foreign and domestic second home buyers, and economic expansion," said 2014 Chairman of the Board of the Miami Association of Realtors Liza Mendez. "The Miami real estate market continues to strengthen due to demand for local properties, as evidenced by sales that exceed record activity in 2013."

2,712 Residential Sales in October

Single-family home sales in Miami-Dade County increased 13.6 percent relative to October 2013, from 1,060 to 1,204. Condominium sales increased 6.5 percent from 1,416 the previous year to 1,508 last month. Combined, residential real estate sales increased 9.5 percent to 2,712 compared to 2,476 in October of last year. 

22.3% Average Sale Price Increase for Condos

The median sale price for single-family homes increased 9.1 percent, up to $240,000 from $220,000 in October 2013. The average sale price for single-family homes decreased 6.6 percent from $421,546 in October 2013 to $393,515 last month.

Compared to October 2013, the median sale price for condominiums increased by 8.8 percent to $185,000 from $170,000 a year prior.  The average sale price for condominiums increased 22.3 percent to $362,657 from $296,568 in October 2013. *Miami Association of Realtors & World Property Channel

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

Reservations open por Paramount Miami World Center

Rome was not built in a day. Typically the more massive and complex a project is, the longer it takes even to obtain the permits from the city. Fortunately the long wait for the Miami World Center is over and reservations are now open for the first residential tower. The developers unveiled plans last Wednesday for the Paramount tower, a 470-unit, 60-story lux condo that would be embedded into the planned three-level shopping mall stretching across three and a half blocks in the old Park West district.

The project overall has certainly taken long taking into consideration that the city first approved it nearly a decade ago. The developers plan to break ground by spring of next year, with the mall opening in 2017 and the Paramount tower by Summer of 2018. Another Miami World Developer hopes to start construction by the end of the year of the expo center and convention hotel on the adjacent site of the old Miami Arena.Since Art Falcone and Nitin Motwani signed Forbes and Taubman, it’s been full throttle and the public skepticism is history now.

Kodsi, also developer of the Paramount Bay condo in Miami’s Edgewater neighborhood and the Paramount Fort Lauderdale Beach tower acknowledges that in this competitive market they need to make sure to deliver a very unique product.  To give his tower an edge over its numerous competitors, residents will enjoy for instance private elevators to whisk them directly into the shopping mall, a feature no other tower can emulate.

 “This is ready to go. We’re launching it and we’re ready to go into construction,’’ said Kodsi. “We’ve designed a very complex project in a short time. It’s not just renderings.”They say prices are competitive, averaging around $700 a square foot for units ranging from 1,294 square feet to 2,350 square feet — about half, they note, of prices at the planned tower by star architect Zaha Hadid a block away on Biscayne Boulevard.

The Miami World Center will revitalize even more downtown Miami and will contribute to give the city a greater sense of an actual metropolis. This more pervasive urban character of the city will for sure attract another kind of people and investors like the Chinese who prefer Urbanism. 

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

 To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

Miami Condos Were Sold in 59 Days During September

Miami Condos Selling Fast & Close to List Price Miami properties continue to sell at a rapid pace and at nearly asking price, reflecting strong demand. 
The median number of days on the market for single-family homes sold in September was just 46 days, an increase of 12.2 percent from September 2013. The average percent of original list price received was 95.6 percent, down a negligible 0.3 percent from a year earlier.
The median number of days on the market for condominiums sold in September was 59 days, an increase of 28.3 percent compared to the same period in 2013. The average sales price was 93.9 percent of the asking price, a decrease of 2.9 percent. 
“While greater supply is creating more opportunities for buyers, particularly for condominiums, lack of financing for condominiums and new construction sales are impacting existing sales,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “The Miami real estate market remains very competitive depending on neighborhood, price point and property type.”

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com