Baltus House is ready to go!

With a finished construction Baltus House is waiting for you! Whether if you are looking to buy or rent this building is ready to take you in. Given that it is located in Biscayne Boulevard, it certainly offers off the hook advantages.

Being in the design district opens the door to people interested in new trends, art, innovative fashion, architecture, dining and, of course, design. The lifestyle of this district is beyond comparison and the last couple a months have been a proof of that. In between new high end stores, first quality yoga and an art exhibition concentrated in boundaries between organic elements and technology in society, it takes you to different experiences that you won’t be able to live anywhere else. Nothing shows more professionalism and an open mind than a commitment to encourage a neighborhood comprised of creative experiences. Definitely this is the place to go if you want to be intellectually and culturally stimulated in a tropical ambient.

This brand new building has several features that maximize quality of life and changes the perspective of living in a condo. The lobby and elevators show designer finishes that give a sense of a luxurious and modern home.  It has a beautiful pool, a gym and other common areas that will certainly satisfy anyone’s needs.

All of these positive aspects bring down changes to the prices that keep on rising since the preconstruction sales. Right now you’ll be able to buy or rent and like everything in life either option has its perks. The sale price for a Studio starts at $308,000. For other condos with more square footage it could go from $395,000 to $410,000 (1 Bedroom).

The rent of a Studio goes for $1,600 per month and like the sale prices it goes up with more square footage. In this case you’ll find yourself paying a maximum of $1,800 per month for an 896 sq/ft apartment with 1 bedroom, 1 bathroom and kitchen with stainless steel appliances.

The information shown above gives the picture of the benefits of living in Baltus House: the environment, the local movements, the modern feel, the fantastic common areas, the quality of the condos and others. If you find yourself wanting to be surrounded by what has been described don’t hesitate in contacting us for further information.

Miami Becomes Top Metro Area in the Country with Most Renters

Back in February, there was an article in the Miami New Times about Miami having the largest percentage of residents renting their homes than any other metro area in the country – a whopping 65 percent. The article stated “according to a new report from New York University's Furman Center and Capital One Financial Corp, 65 percent of Miamians rented in 2013, slightly ahead of the 64 percent of New Yorkers who rented. For Miami, that's a 5 percent increase since 2006.”

Miami is in the midst of undergoing a major overhaul in terms of development especially in the areas surrounding the Midtown area of Miami.  In addition to the highly sought after areas of Brickell and Downtown, Midtown and the Design District have become more popular with people in search of rentals. This makes these areas more appealing to investors in search of real estate to buy as investments for rental property.

With this in mind, here are a handful of condominiums in the Design District and Midtown that present the opportunity for investors to buy units that are affordable, easy to rent and offer more potential for a good return on their investment.

IOS on the Bay, 720 North 62^nd Street

Probably the most appealing attribute of IOS on the Bay is the fact that it is a boutique condominium with a total of only 43 residences comprised of 23 floor plans – never mind that it sits on the Bay.  The building itself exudes a modern design with clean and simple lines that blend perfectly with the free flow of its Biscayne Bay backdrop.  Residents can enjoy a peaceful life in one, two and three-bedroom units ranging in size from just under 700 square feet to over 1,900 square feet that offer beautiful Bay and city views. Inside each residence, owners can expect to find a very contemporary interior design with very slick kitchens with stainless steel appliances, stone counter tops and more as well as master bathrooms with glass-walled showers and pebble floors.  IOS on the Bay exudes a very evident yet understated “cool factor.”  As for list prices, they typically range anywhere from the mid to upper-$200s to upper-$600s depending on the location of the unit and the view from the expansive balcony.  Additionally, the average number of days on the market is just over 60 days (based on sales in the last six months).   As for rentals, they are snapped up fairly quickly when listed.  Recently rented units show that monthly rental rates start at about $1,600 for a one-bedroom and climb $6,500 for a three-bedroom penthouse with rooftop terrace.

For Sale at IOS on the Bay

MIDBLOCK at Midtown, 3250 NE 1^st Avenue

Featured in our blog in 2014, MIDBLOCK is a unique condominium situated in the heart of Midtown and features a mix of condominium units, lofts and townhouse residences.  Its most interesting architectural features are probably the glass rotunda around which the rest of the building stands and how the design of the units are built with a live/work dynamic which appeals to many today.  Because of its central location, Miami residents like this condominium since it is close to the other new neighborhoods of Edgewater and the posh Design District as well as Brickell and Downtown.  There are tons of amenities that rival five-star luxury condominiums from 24-hour valet and concierge to a state of the art fitness center to a rooftop terrace swimming pool that offer amazing views. List prices usually range from the mid-$300s to the upper-$500s with the average price per square foot at about $430.  Rental rates start at about $2,000 for a one-bedroom and about $2,600 two-bedrooms.  Recent rentals show that they take about 60 days to rent. 

MIDBLOCK Available Rentals

Uptown Lofts, 2275 Biscayne Boulevard

Although Uptown Lofts is now considered to be in Edgewater, it is a very popular Midtown Miami condominium with lots of character and individuality.  Located just a few blocks from the Performing Arts Center,  these residences each have two balconies, open and airy layouts and 10+ foot high ceilings – they are lofts after all! Building amenities consist of a pool with recreation deck, fitness center, covered assigned parking, storage, and more.  Buyers can choose from studios, one and two-bedroom units with list prices starting in the mid-$200s and reach $400K.    Monthly rental rates start at about $1,500 and top $3,500.  Uptown Lofts is an excellent option for investors as renters often seek out this condominium because of its eclectic appeal along with the affordability and location.

For Rent at Uptown Lofts

Continued Increase in Renters

The large number of condominiums makes for many options when considering renting in Miami.  With the continued increase in renters comes the increase in rental rates.  Luckily, there is a huge increase in development of condominiums in areas surrounding Midtown (i.e. Edgewater, Design District, Brickell, Downtown). 

Five Favorite Design District Restaurants

As the Design District comes to life, many of the top interior designers as well as furniture designers are opening and even relocating their showrooms and businesses to this fashionable part of Miami not to mention the number of high-end retailers like Cartier, Hermés and Dior.  Included in this thriving development are some amazing restaurants that are frequently popping up and bringing more people to the Design District throughout the day.  As successful restaurateurs see the development expand, they are either bringing new restaurants into Miami for the first time or expanding their businesses by opening additional locations or new versions of tried and true Miami favorites.  Following are our favorite restaurants in the Design District:

Mandolin Aegean Bistro, 4312 NE 2^nd Avenue

Everyone loves Greek food.  In the Mediterranean, the Aegean Sea brings the Greek Isles and the Turkish Coast together.  Mandolin Aegean Bistro has the same idea with its version of authentic and rustic dishes that are favorites in the Aegean region.  Mandolin is a restaurant that is always a top recommendation in the Design District as the whole experience is one in which everyone must take part.  Whether enjoying a quiet dinner outdoors or sitting inside at one of the shared tables and making new friends, Mandolin delivers when it comes to the food.  Favorites are definitely the Turkish Sampler (everyone is always in the mood for hummus), Grilled Octopus, and of course, the Grilled Beef and Lamb Meatballs. Guests of the restaurant rave about how the Turkish Sampler is their “favorite thing on the menu.”  This is definitely worth a trip to the Design District.

Harry’s Pizzeria, 3918 North Miami Avenue

As a Genuine restaurant, Harry’s Pizzeria is a great little bistro type restaurant that serves up the most inventive salads, pizzas and other mouth-watering, creative dishes.  The place has a warm and cozy feel to it as it is small and has the brick pizza ovens right out there for all to see.  This is a great place to hang out and catch up with friends while drinking delicious craft beers and eating gourmet pizzas with toppings like short ribs, braised fennel and even corn.  Corn on pizza?  When piled on with caramelized onions, gruyere, and spinach, it works quite well!  Even though the location is on a busy street where parking should be an issue, people quickly find a spot usually in front.  According to one review, “Harry's continues to be a casual go-to for some of the best wood oven specialty pizza in town.”  We completely agree and always pick Harry’s when we WANT pizza.

Michael’s Genuine Food and Drink, 130 NE 40^th Street, Atlas Plaza

While we are on the subject of Genuine restaurants, we must mention Michael’s Genuine.  One of the original Design District restaurants, this place is always on the mark with divine meals.  “Genuine” in that the food is farm to table fresh from local farms.  The atmosphere is just as casually inviting as the food is delicious.  One thing that is so great about Michael’s is how the dinner menu is laid out with sections based on the size of the meal rather than the category.  Dishes are complex concoctions of basic favorites that come together as something so amazingly tasty.  Michael’s Genuine is a restaurant that is a tried and true place to take friends and family who want to “experience” a great restaurant in a cool part of town. 

Buena Vista Deli, 4590 NE 2^nd Avenue

Walking past the Buena Vista Deli and smelling the freshly baked crusty breads baking is all it takes to make the turn into this quaint deli that is the epitome of a corner bakery.  The dessert case greets customers with mouthwatering treats as they decide what to have only to decide that they must return to try more of everything that is offered.  From fresh baguettes and homemade jellies to croissants filled with chocolate as well as fresh quiches and everything else, this place becomes addicting and a frequent stop on the way to work or play.  It is one of those places that come to mind upon waking up on a leisurely Saturday or Sunday morning not to mention the perfect spot at which to take a much needed shopping break for lunch.  The first visit to the Buena Vista Deli leads to many more – trust us on that!

Lemoni Café, 4600 NE 2^nd Avenue

Whether sitting inside or out, Lemoni Café is a favorite of locals and a definite recommendation for visitors to Miami.  There are some of the best sandwich, wrap and Panini combinations that are wholesome and delicious.  For salad lovers, this place is salad heaven!  Even for vegans and vegetarians there are tons of options.  No matter what time of day, this is a great place to eat.  It is a perfect lunch spot and even better for a casual dinner for two (or four).  As for price, Lemoni Café is very reasonable with most offerings under $15 and wine at only $6 per glass (yes, $6). As for desserts and smoothies, there is a huge selection of each that are absolutely delectable.  Lemoni Café is always a top pick and at the top of most everyone venturing to the Design District.

Lots of Choices

No matter what kind of food anyone craves, there are lots of choices when it comes to restaurants in the Design District.  From very casual and low-key eateries to much more upscale cafes and restaurants, the Design District is a go to area for top notch restaurants.  As the neighborhood develops, more restaurants plan to relocate or open locations here.  The Design District has so much character and following suit, so do the restaurants.  While the food at most is mouthwatering and tasty, the atmosphere in makes the entire meal even more enjoyable.

Personalidad y Originalidad: Miami Design District

Las vías de un tren anuncian la exclusividad que se abre en calles amplias y bien iluminadas. Un tren, el estandarte de una sociedad más industrial que digital, resulta cuando menos exótico en este tiempo. Especialmente en una ciudad donde la historia es reciente y su imagen sigue a la sombra de una palmera y camisas hawaianas. Pero algo está cambiando en Miami, y estamos en el lugar indicado para comprobarlo.

Muchos lo imaginan, pero sólo los privilegiados saben con certeza cómo se vive realmente en esta ciudad. Por ser dueña del verano, por sus fiestas, su pluralidad cultural, sus 55 millones de turistas al año y los innumerables centros comerciales de los que hace alarde, a algunos les cuesta imaginar una Miami cultural, con personalidad bohemia, de sabores artísticos. Sin embargo, detrás de unas vías férreas, a 10 minutos del mar y bajo el mismo cielo de verano infinito, hay un terruño de personalidad reservada: Miami Design District -Distrito del Diseño.

La historia del Miami Design District está, sin duda, bien dibujada. Llevaba más de 15 años en planos e ideas, esperando su oportunidad para convertirse en realidad. Su aparición no ha podido ser más oportuna en una ciudad que respira nuevos aires. Este proyecto vivo de ciudad rescató algunas propiedades históricas y construye algunas otras para hacer historia. En 2012 se inició un proceso que abarcará la construcción y reconstrucción de más de 540,000 pies cuadrados, la inversión de más de 312 millones de US $, un hotel, un mall y alrededor de 100 viviendas en una zona que, en principio, sería sólo comercial pero que su particularidad ha hecho que sea un lugar donde muchos quieren vivir. 

El líder y visionario del Distrito, Craig Robins, lo expresó recientemente: "la zona ya está estupenda, pero su transformación será exponencial". Y es cierto.

Huele a sol pero, a pesar de tener tan cerca el mar, el salitre no se siente. Aquí el verano nos regala su temperatura ideal para disfrutar de los verdaderos protagonistas: la exclusividad, la originalidad, el buen gusto y, obviamente, el diseño: todo es de diseño. Todo es diferente. Especial.

Hasta el lujo clásico se adapta a este particular lugar. Dior, Berluti, Hermes, Loui Vuitton, han asumido la personalidad del distrito jugando con elementos antiguos, haciendo arte con sus logos, fusionándose con los faroles de época que alumbran la calle al atardecer y compartiendo el vecindario con tiendas sencillas, curiosas, únicas. Estas calles son espacios para la creatividad, el arte y los sabores exquisitos 

Sólo aquí podemos ver a una Frida moderna en una fachada de los años 50, a un chef israelí haciendo pizza de camarones sobre queso peccorino y sirviendo el agua en una botella de taberna, una casita blanca con un aviso irresistible: "Postres para el alma | Café, Dulces y Vino en la terraza". También podemos sentarnos en una banca a dejar que el sol de Miami nos deje ciegos y luego, a la luz de la noche elegir dónde cenar .

Miami Design District es un lugar para habitar y vivir. Aquí lo común y lo corriente no puede subirse al tren.

Baltus House – Miami Design District

As the Miami Design District grows and becomes more popular with high-end retailers, upscale design firms and other businesses, condominiums are beginning to becoming a reality.  Recently announced to begin construction later this year with completion late in 2014, Baltus House is going to be a destination for many Miami residents who want to live in a trendy community surrounded by stores like Louis Vuitton, Prada, Dior and other top designers.  The Miami Design District is known for its upscale influence with some of the best shopping, dining and entertainment.   

Baltus House

Baltus House is another brilliant creation by world-renowned developer, The Related Group. With other Miami condominiums like Icon Brickell, 50 Biscayne, and My Brickell as well as other new projects like SLS Brickell, Icon Bay, and Beachwalk (Hallandale Beach), The Related Group takes condominium developments to a new level.  Arquitectonica, which frequently partners with The Related Group on major projects, is the architectural brain behind the actual design of Baltus House. 

Finally, the interior design of the condominium is under the direction of the Spanish design and furniture manufacturing firm of Baltus which happens to have a showroom in the Miami Design District. Jorge Perez, CEO of The Related Group, fell in love with the firm's work after the completion of a personal suite in another of his Miami architectural works of art.

The floor plans call for one, two, and three-bedroom units that have a nice flowing feel and are very spacious.  Each one features at least one terrace with some having multiple terraces for relaxing and taking in beautiful city and water views.  The contemporary lobby showcases Jorge Perez’s collection as does the other common areas.

Location of Baltus House

Baltus House is located at 4300 Biscayne Boulevard adjacent to the gated community of Bay Point in the prestigious Miami Design District.  Just five minutes from downtown and Brickell, Miami’s financial district, as well as only about 15 minutes from the Miami beaches, the Design District is set to become a top pick with Miami real estate for residents to relocate because of its combination of exclusive shops and businesses in a somewhat eclectic atmosphere.   

Amenities

This is a boutique condominium with 167 fully-finished units on 15 floors.  About 60 percent of the units are designed to have water views.  Inside each residence, high-end fixtures and finishes highlight the living areas.  The large kitchens feature European cabinetry, stainless steel appliances and tons of counter space. 

In terms of community amenities, there will be a 55-foot reflective pool and spa on a seventh floor deck facing southward overlooking Biscayne Bay and Miami Beach.  Some of the other features include assigned parking for all residences, additional storage, and two additional spas on the 16^th floor roof-top sun deck which showcases a summer kitchen with direct Bay views.  The fitness center overlooks the pool deck. 

Real Estate at Baltus House

The current plans for the residential properties at Baltus House include one, two, and three bedroom residences.  The pricing is as follows:

      

Unit Type	Price
Studios	$228,900-$246,900
One-Bedroom/One-Bath	$268,900-$286,900
One-Bedroom/One-Bath+Den	$315,900-$318,900
Two-Bedroom/Two Bath	$478,900-$692,900
Three-Bedroom	To Be Announced

As for a payment structure, the plan is as follows:

• 10% of Purchase Price at Reservation
• 10% of Purchase Price at Contract, or Balance of 20% after applying Reservation Deposit
• 20% of Purchase Price at Groundbreaking
• 20% of Purchase Price at Top-off
• 40% of Purchase Price at Closing

A Perfect Addition to the Design District 

Another Related Group project is about to become reality and set the tone for new projects in the Miami Design District.  Jorge Perez is definitely a visionary when it comes to Miami real estate.  This is another masterpiece that will add so much beauty to the Miami real estate market.

Icon Bay - Update

One of the most anticipated condominium projects is finally set to break ground in the next month or so.  Icon Bay, the latest residential landmark from world-renowned developer, The Related Group, is a 40-story architectural marvel that will follow the success of the Icon line of condominiums in Miami including Icon Brickell and Icon South Beach.  With magnificent, panoramic views from every residence and a high attention to detail, Icon Bay is set to be one of the most sought after addresses in all of Miami real estate.

The Icon Bay Team

At the helm is Miami developer, The Related Group, one of Miami’s most successful commercial and residential developers of projects like Apogee, 500 Brickell, My Brickell, One Ocean and so many more.   Jorge Perez, the CEO of the Related Group, is a real estate genius and known for his “iconic” and recognizable buildings in Miami and South Florida.

Arquitectonica is the architectural partner that is designing Icon Bay.  In business for over 25 years, it is the name behind other successful Related Group projects as well as the American Airlines Arena, Museum of Modern Art and South Miami Cultural Arts Center.

The landscaping around Icon Bay as well as the adjacent waterfront park being constructed adjacent to Icon Bay is under the direction of ArquitectonicaGEO, a Coconut Grove based “green-friendly” landscape architectural firm with projects like Sonesta Key Biscayne and the Miami Science Museum under their belts. 

Location of Icon Bay

Located in the heart of “new Miami,” Icon Bay is located at 460 NW 28^th Street.  Directly between Midtown and the Wynwood Arts District, the building is situated on Biscayne Bay.  Its locale in the up and coming Biscayne Corridor is ideal as it is five minutes from Brickell, a few blocks from the Design District and only a 10-15 drive from Miami International Airport and South Beach.  Icon Bay is set apart from the booming areas of Midtown, Wynwood, and Design Districts but still in the middle of the excitement.  Homeowners can enjoy privacy and a quiet environment while being close to tons of shops, dining and entertainment.

The Design District is a fabulous part of Miami real estate that is growing in popularity by leaps and bounds.  Many high-end shops such as Hermes, Christian Dior and others are relocating Bal Harbour to this chic part of town. 

Icon Bay

The first word that comes to mind when seeing renderings of Icon Bay is WOW!  The exterior façade compliments the water with a woven or checked like contemporary design.  This masterpiece is 40 stories tall with 300 units and features a grand three-story lobby intended to showcase the fabulous artwork that is a passion of Jorge Perez. 

With only eight units per floor, the plan is for all of the one, two and three bedroom residences to have beautiful bay views.  In terms of size, the residences range in size from slightly more than 900 square feet to over 1500 square feet (penthouses are over 2,000 square feet). 

Amenities

The Related Group is known for its affinity of luxury amenities.  Because the Icon line features only the best in their properties, residents at Icon Bay should expect only the best.

Community Amenities.  Amenities will be plentiful around the grounds of Icon Bay.  Residents will have access to 24-hour valet, concierge and security; a state of the art fitness center with top of the line equipment as well as cardio and other group classes, and floor to ceiling windows that showcase the bay front and pool area; a beautiful infinity resort-style pool that overlooks Biscayne Bay and features towel service and luxury cabanas; a coffee lounge and kids and teen lounge; clay tennis courts over the garage and so much more. 

Waterfront Park.  Probably the most amazing part of the project will be the small community park just south of the condominium.  This green space will feature art and sculptures from Miami’s up and coming artists and have areas for running and exercising as well as a dog park and play fountain. 

Residence Amenities.  Residences will be spacious and designer-ready for home owners to select fixtures and finishes.  Other details will include private elevator entrances to a private foyer for each residence; nine-foot ceilings; imported porcelain tile; elegant kitchens with European cabinetry; impact-resistant windows and rails framing large terraces; one assigned parking spot with additional available; and more.

 

Real Estate Information at Icon Bay

From the time the announcement was made presenting Icon Bay, there has been a lot of chatter about the project.  Because of the location and the popularity of other Icon properties, sales were wildly successful out of the gate.  In fact 50 percent of the building had reservations within a month of the announcement. 

Currently, with the exact groundbreaking still being determined, there are only six units (all one-bedrooms) available for sale all of which are located on lower floors.  The pricing of the available units is as follows:

Unit #	Type	AC/SF	List Price	Price/SF
304	1BR/2BA+Den	1,096	$455,900	$415.96
305	1BR/2BA+Den	1,190	$490,900	$412.52
306	1BR/2BA+Den	1,055	$438,900	$416.02
307	1BR/2BA+Den	1,003	$420,900	$419.64
502	1BR/1.5BA+Den	964	$448,900	$465.66
902	1BR/1.5BA+Den	964	$456,900	$473.96

When comparing the price/square foot of the one-bedrooms versus those at the announcement of sales, the current amounts are slightly lower than in August 2012.  With all the remaining units priced below $500K, this is a phenomenal opportunity to live in one of Miami’s most iconic buildings. To be part of the excitement, following is the current payment schedule to purchase property at Icon Bay:

• 20% at contract (now)
• 20% at Ground breaking (approximately March 2013)
• 10% at Top off (approximately March 2014)
• 50% at closing (approximately beginning 2015)  

To compare to similar sales, newly constructed Paramount Bay Condominium which is located in the same area and also designed by Arquitectonica, features original sales with the price per square foot falling between the upper-$400s and upper-$700s.  Resale numbers show that the price per square foot has increased with the range from the mid-$500s to well over $800K.

Icon Bay’s Success

The success of Icon Bay definitely shows that the Miami real estate market is back in play.  With only six units available for sale, this is an excellent opportunity for investors and buyers who want to live in such a hot part of Miami.

Miami Design District and Surrounding Real Estate

Most major metro areas in the country have a part of town that is considered an up and coming area on the verge of a real estate boom.  In Miami, that area is called the Design District.  Bordered by 36^th and 42^nd Streets on the south and north, and Federal Highway and Miami Avenue on the east and west, this trendy part of Miami is about to experience a large upswing in the real estate market. 

Over the past few years, warehouse space has been converted from low-rise warehouse and gallery space into high end retail space, restaurants, cafes, and art galleries.  In fact, many high end retailers like Louis Vuitton, Hermes, Dior and Cartier are moving their Bal Harbour shops to the Design District.  Surrounded by prominent Miami neighborhoods, the Design District is poised for huge growth and major increases in real estate value.

Design District Real Estate

To the south of the Design District is Midtown Miami with its high-rise condominiums, office space and retail space.  Just north of the Design District (and just south of Little Haiti) is an area of single family homes that offer tons of opportunity for an investment in a position to provide immediate equity.  These homes are situated in neighborhoods like Buena Vista, Old Spanish Buena Vista, Lemontree, and Brentwood and built mostly between 1920 and 1960.  While some homes have tons of character with their Mediterranean and Spanish architectural styles and others are in need of lots of work, the common denominator with all the homes is that they are affordable and are in a location that is hip and close to everything.

Currently, there are about 15 single family homes in the Design District area that are priced up to about $500K.  These homes are mid-sized homes ranging between 1,000 and 2,500 square feet.  List prices increase as the address gets closer to the Design District.  With list prices at this level, not only are they affordable but they easily accommodate renovations to bring them up to a level that is aesthetically and financially comparable to the beautiful homes in the outlying neighborhoods to the east like Morningside and Bay Point. 

According to Trulia, over the past six months, similar homes sold for significantly less than their estimated value which is based partly on location.   Remodeled homes within one to two blocks of the Design Districts have listed and sold for well over $500K.

Huge Opportunity

There is a huge opportunity in the Design District to buy a Miami single family home at a very low price and walk into the home with equity.  Not since 2006 has this been an option for home owners especially in Florida.  For real estate investors and those who have the desire to recreate a masterpiece, this is the place to be.  Be part of the transformation of this up and coming neighborhood.