Wednesday, April 10, 2013

Lincoln Road Getting Awesome Rooftop Putt-Putt Course


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The Miami Beach Design Review Board has granted approval to a guy named Glenn Boyer to convert the top deck of the Lincoln Garage into a miniature golf course, garden, and restaurant called the Lincoln Road Putting Club, designed by Berenblum Busch Architecture. The point is to give families on Lincoln Road who are sick of movies and bowling (the only two other 'family friendly' things to do on Lincoln Road) something new to do when it opens in the fall of 2014.
                      

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Wednesday, March 27, 2013

Hadid condo could reshape downtown Miami skyline

 



The world’s
 
 
 
 
 
 
 
 
 
 
The world’s only female superstar architect, Zaha Hadid, unveiled an undulating, spider-like design for a new luxury condo tower on Biscayne Boulevard — her first residential project in the United States — that boldly looks to raise the design ante for Miami’s skyline.
The developers of the proposed 1000 Museum, Gregg Covin and Louis Birdman, also hope to capitalize on the location and the big design name to break through the price ceiling for a downtown Miami condo. They are angling for a stratospheric minimum of $4 million for the cheapest units, and a Miami Beach-like $30 million and up for penthouses. That means pricing would start at about $900 per square foot, an amount that’s already roughly double the price of the typical new downtown condo.
The 61-story tower would squeeze in among the so-called Four Horsemen high-rise condos across from Biscayne Bay and the emergent Museum Park, taking over a prime spot now occupied by a gas station, which Covin and Birdman have a contract to buy. The pawn shop property behind it on Northeast Second Avenue is not, for now, part of the $300 million project.
The futuristic design by Hadid’s London-based firm features an interlacing concrete exoskeleton, a bulging midsection and a set of rib-like lower balconies that has prompted comparisons by some local bloggers to a spider, a bug and an alien spaceship.
“We love Miami, and we feel we can create a beautiful addition to the skyline that will define the skyline in a new way,’’ Zaha Hadid Architects director Patrik Schumacher said. “I think it will have a new kind of appeal.’’
The Iraqi-born, London-schooled Hadid, whose firm has also designed a swooping new Miami Beach city parking garage, is known for flowing, curvaceous buildings that sometimes appear to melt. In the past decade, she has gone from experimental-minded iconoclast to sought-after designer, achieving the kind of popular recognition usually reserved for celebrity male architects like Frank Gehry. Her well-publicized struggles to be taken seriously in the notoriously male-dominated profession also made her a kind of feminist icon.
She has a residence on South Beach and was known to have long been seeking a signature local project. Previously, her only Miami work was a sculptural installation in the atrium of a Design District building.
Hadid is the third winner of the Pritzker Prize, often called architecture’s Nobel, currently working on a Miami condo project. Sir Norman Foster of Britain is designing a tower next to the Saxony Hotel in Miami Beach, while the Swiss firm of Herzog & de Meuron, also responsible for the new downtown art museum and the instantly famed 1111 Lincoln Road parking garage on South Beach, is designing a tower in Sunny Isles Beach.
The firm of a fourth Pritzker laureate, Rem Koolhaas’s Office of Metropolitan Architecture, for whom Hadid previously worked, has designed three companion buildings for the Saxony project, including the renovation of a smaller hotel, and is on a team vying for the redevelopment of the Miami Beach Convention Center.
The fact that Hadid and other eminent architects are designing exceptional buildings in Miami reflects a growing maturity and sophistication about design from developers and civic institutions, said
Wolfsonian/FIU museum director Cathy Leff

Read more here: http://www.miamiherald.com/2013/03/18/3292714/hadid-condo-could-reshape-downtown.html#storylink=cpy

Monday, March 18, 2013

Hadid’s One Thousand Museum condos will ask $900 per square foot


March 18, 2013 12:00PM
From left: a rendering for 1000 Biscayne Boulevard and Zaha Hadid
New details were revealed about the proposed Downtown Miami condominium project by starchitect Zaha Hadid, the Miami Herald reported. A rendering revealed an undulating, voluptuous design for the project known as One Thousand Museum, set to rise at 1000 Biscayne Boulevard.
Developers Gregg Covin and Louis Birdman also disclosed pricing for the project — Hadid’s first in the western hemisphere — to the Herald. Condos will start at $4 million, and penthouses will ask at least $30 million, the paper said, which translated to around $900 a square foot.
Iraqi-born, Pritzker Prize-winning Hadid’s design will likely alter the Miami skyline dramatically, the Herald said. The 61-story tower will leave a distinct imprint on downtown Miami, if approved and built as her firm, Zaha Hadid Architects, has proposed it. [Miami Herald] –Guelda Voien

Wednesday, March 6, 2013

South Fla. foreclosures grow 40% from last year

March 05, 2013 11:00AM
There were 4,358 foreclosures filed in South Florida in February, down from 4,467  foreclosures last month, but up 40 percent from the same month a year ago, according to Condo Vultures. Miami-Dade County lead the region for the sixth consecutive month with 1,987 foreclosures —  in February 2012 only 732 foreclosures were filed — a 99 percent increase year-over-year.
Broward County and Palm Beach County posted 1,481 and 890 foreclosures last month, respectively, representing a 2 percent decrease and 3 percent increase from February 2012. —Christopher Cameron
 realdeal.com

Thursday, February 28, 2013

Condo tower gets $160M construction loan the first since the downturn

February 27, 2013 12:00PM
Sunny Isles Beach
For the first time since the real estate crash, financing has come through for a major construction loan for a Miami condominium project, the Wall Street Journal reported. A group of lenders led by a Birmingham, Ala.-based corporation called Regions Financial will lend $160 million to the developers of the Mansions at Acqualina, the Journal said. The 47-story tower in Sunny Isles Beach has asking prices starting at $7.75 million.
The loan is the first larger than $100 million since the collapse of Lehman Bros. left a glut of Miami condos on the market and investors and banks reeling. The loan may indicate that banks have an increasing zeal for risk, as historically low interest rates leave little room for profit in less risky ventures. –Guelda Voien
 the realdeal.com

Wednesday, February 20, 2013

Opera Tower sells two-thirds of units

 

February 19, 2013 11:00AM
Tibor Hollo and the Opera Tower
Miami’s the Opera Tower has been struggling to sell out for years. But thanks to developer financing for up to 50 percent of the purchase price, the luxury condo project has reached 400 sales — leaving a remaining inventory of only 235 units — the developer, Tibor Hollo, chairman and president of Florida East Coast Realty announced today.
The developer is also offering leasebacks, under which the landlord will lease back the owners’ units for up to three years from closing. During that time, buyers will receive an annual rent equal to 6 percent of the purchase price and monthly condominium maintenance fees will be paid by the developer. Buyers will also be exempt from paying rental commission fees or property management expenses, but will be responsible for paying property taxes and insurance.
“We are pleased and very encouraged with the sales activity at Opera Tower,” Hollo said. “It’s an affirmation of our belief in the strength of our location and product, providing spectacular views and desirable amenities.”
Back in 2009, Hollo had offered no income, no assets, no questions asked loans for 75 percent of a unit’s value, plus a money-back guarantee, providing the money was spent in his building and there was no price haggling.
The 56-story, mixed-use tower  is currently undergoing a $1.2 million redesign, with changes to its recreational room, lobby and pool deck. –Christopher Cameron