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Announcement

Big Things Miami here!!

By
Cashflow In Miami
on
November 23, 2021
Miami Downtown Reconstruct Sold Out!!

501 NE 1st Ave

LUXURY 40-STORY TOWER SOLD OUT IN RECORD TIME.

STUDIOS

From 401 sq ft to 458 sq ft / Starting at USD 304,000

ONE BEDROOMS

From 571 sq ft to 606 sq ft / Starting at USD 408,000

TWO BEDROOMS

From 835 sq ft / Starting at USD 659,000

RESIDENCES FEATURES

Fully finished and furnished residences thoughtfully curated by award-winning design firm, Shim Projects

Floor to ceiling glass windows with custom window treatment

All residences feature balconies

Finished flooring on all residential interiors and balconies

Kitchens and bathrooms feature custom Italian cabinetry and counters

Innovative household appliances by Smeg featuring:

- Speed oven

- Integrated paneled refrigerator/freezer

- Dishwasher

Top-of-the line, separate, in-unit washers and dryers

Fully built-out, generous closets

Hansgrohe bathroom fixtures, features and accessories in matte dark finish

601 NE 1st Ave, Miami, FL 33132

Natiivo Miami downtown preconstruciton sold out !!

Downtown Miami’s 51-story Natiivo tower is now completely sold out, and vertical construction has commenced.

Sales at the tower surged this year as buyer interest in Miami has skyrocketed, with nearly 40% of the 448 condo units at Natiivo sold in the past six months alone.

The sales effort launched at Natiivo in September 2019. Groundbreaking took place in February 2021, when the developer said over 60% of units were sold. Another 50 units were sold between February and April of this year.

Natiivo will include:

100 Gale hotel rooms

140 Gale hotel-condo units (all sold out)

127 Creative HQ office condos

448 residential condos ( all sold out)

70,000 square feet of amenities curated by LDV Hospitality

A ground-floor Italian market and restaurant called Dolce Mercato, and Bodega.

Natiivo allows short term rentals.

Another similar tower nearby, the 50-story Legacy Miami Worldcenter, also reached sellout earlier this year and is now under construction. Also selling out earlier this year was the nearby E11EVEN Residences tower, we have written about in prior blogs.

8400 S Dixie Hwy, Miami, FL 33143

Motion apartment building gets sold for $114 million.

The billionaire family that owns the Washington Nationals bought an apartment tower near Dadeland Mall for $114 million.

Rockville, Maryland-based Lerner Enterprises acquired the Motion at Dadeland at 8400 South Dixie Highway in Miami, according to a news release. The joint venture of Motion developers Adler Group, 13th Floor InvestmentsMotion,and Barings sold the building. Completed in 2019, it offers studios as well as one-, two- and three-bedroom units. Amenities include a pool and gym. The building also has 8,000 square feet of retail space.

It’s 99 percent leased at market-rate rents. Monthly rents range from $2,465 to $4,218 for one-bedroom units, and from $3,079 to $4,788 for two-bedroom units, according to Apartments.com.

6600 NW 7th St, Miami, FL 33126

Blue lagoon Miami apartment complex trades for $98 million!

Nuveen Real Estate bought an apartment complex at Blue Lagoon near Miami International Airport for $98 million.

Pinnacle and Ascend Properties sold the LaVida Apartments, a pair of eight-story buildings at 6600 Northwest Seventh Street, near the Waterford Business District.

The two firms developed the 272-unit, lakefront project in 2019 across 7.4 acres. Ascend, through an affiliate, bought the land for $7.6 million in 2015.

The sale for the fully leased community closed for $360,294 per unit.

LaVida, which overlooks a lake to its south, includes one-, two- and three-bedroom apartments ranging from 728 to 1,295 square feet, according to a release. Rental listing website Apartments.com shows the monthly asking rent for a one-bedroom ranges from $1,810 to $2,085.

Units include a terrace, porcelain floors, quartz countertops and full-size, stackable washer and dryer.

9540 W. Bay Harbor Drive, Bay Harbor Islands

The Tryp, by Wyndham Miami Bay Harbor Hotel, was converted into a condo hotel. Then, the owner sold 55 of its 96 units in a single day.

PPG Bay Harbor Owner LLC, managed by Ari Pearl of PPG Development in Hallandale Beach, acquired the 96-room hotel at 9540 W. Bay Harbor Drive for $30 million in January, helping the previous owner resolve a foreclosure lawsuit. In September, the property owner filed notice with the county that it was converted into a hotel condo called the Altair Bay Harbor Hotel Condo. PPG also launched a website to market the fully furnished hotel residences.

Then on Oct. 8, Pearl’s company sold 45 condos for $15.95 million to LC Altair, LC Altair II, LC Altair III, all managed by Yitzchok E. Karasick of Hackensack, New York-based Liquid Capital. The buyer obtained mortgages of $5.8 million and $4.57 million from Oakland Park-based American National Bank. The price equated to $354,444 per unit.

The same day, PPG Bay Harbor sold nine condos for $5.07 million to Kew Gardens, New York-based PD Altair LLC and one unit for $350,000 to CGFL1 LLC, managed by Jacob Gofman in Los Angeles.

The hotel was built in 2018. It includes a rooftop pool, a bar, a ground-floor restaurant, a meeting room and a fitness center. Wow.

410 Southeast 16th Court in Fort Lauderdale

Whole Foods anchored apartment building gets sold for $150 million!!

AvalonBay Communities bought the Curv apartment building with a Whole Foods for $150 million. Ram Realty Advisors sold the eight-story building at 410 Southeast 16th Court in Fort Lauderdale to the Arlington, Virginia-based publicly traded real estate investment trust.

The mixed-use building includes a ground floor leased to Whole Foods, a garage, pool and 243 apartments. It was built last year across 3.3 acres.

Ram Realty assembled the development site in 2018 for $18.5 million, records show.

The deal breaks down to $617,284 per apartment, though that price does not take into account the Whole Foods or parking garage.

...

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