Less than an acre of Sunny Isles oceanfront has been purchased for $30M by New-York based Property Market Group (PMG). The parcel is reportedly 0.85 acres, and is situated at 17141 Collins Avenue. Previous plans by sellers, Palermo Beach LLC., included the development of a 42 story condo named Unique, by Kobi Karp.

S2 Development of Aventura will partner with Property Market Group to fuel a new project, however exact plans remain private, according to The Real Deal. A company representative stated that the interior designer and architect commissioned for their project though, are of world-class caliber.

Palermo purchased the land space in 2012, for a $20M sum, thereby gaining profits. The parcel is nestled between new development Jade Signature and the highly sought after Trump International Resort.

Property Market Group is one of the few developers in Miami to secure construction loans for residential projects. The development firm has recently safeguarded $128.5M for its Echo Brickell and Echo Aventura projects. Commercial loans are notoriously more stringent than other types of loans. Applicants need to have qualifications and field experience in their niche. PMG’s Miami Chief has also described that loan applicants will need to be well-capitalized in order to receive funding. Read more on commercial lending requirements here.

Waterfront locations are typically in high demand. For new pre-construction waterfront properties, contact Sydney Server at 305-562-7363.

Contact Miami Realtor Sydney Server for more information.

Sources: The Real Deal
Photo Credit: The Real Deal
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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The latest in Sunny Isles real estate reports include:

Mansions At Acqualina Penthouse Lists for $55 Million

A six bedroom, eight bathroom duplex condo is now on the market for $55M in Sunny Isles Beach. The Mansions at Acqualina features fully furnished luxury units by Fendi Casa and many amenities on site. Read more about these private residences here.

Jade Signature Model Released

Preconstruction condo Jade Signature will be designed by Herzog & de Meuron. The Real Deal has reported that a new model has been released, featuring tropical landscapes and a three story underground parking space. Full details on pricing and floor plans can be found here.

Gil Dezer Requests Renewal on Solis’ Building Permit

South Florida developer Gil Dezer, is hoping to receive the title on the Solis Residences following a flood of delays since its proposal. The previous developer Alex Forkosh, was hit with foreclosure in 2010, following the market crash. Dezer however purchased a note on the property in 2012, and is now requesting a building permit renewal from the Sunny Isles Beach Commission. Dezer stated in an interview that he hopes to receive the title in hand within the next few weeks. Solis will feature 53 stories and has been designed by Arquitectonica.

Contact Miami Realtor Sydney Server for more information.

Sources: The Real Deal, Mansions at Acqualina, Ex Miami
Photo Credit: Sunny Isles Beach
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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Sunny Isles’ preconstruction, Jade Signature, has released a video demo showcasing amenities featured. The building is the brainwork of Pritzker Prize award-winning Herzog & de Meuron, and includes enviable views of the ocean from each unit.

These condos will be priced between $1.7 million and $25 million, according to The Real Deal. The interiors will also be designed by French design firm PYR, led by Pierre-Yves Rochon.

Jade Signature will provide three levels of amenities:

• The Lobby, which will feature a first class concierge team, a terrace, valet, car wash, security, and an electric car charging area.
• The Beach, will be decked with an open concept restaurant, and a planned game area for residents.
• The Spa, will feature relaxing massage beds that lookout on the ocean. There’s furthermore a detox juice bar and a well-equipped fitness center.

This property boasts a luxurious Miami Lifestyle. Sydney Server Real Estate helps prospective homeowners locate such properties. Get in touch at 305-562-7363 if you’re interested in purchasing Jade Signature’s condo, or other preconstructions in MIAMI

See what it means to live the NEW MIAMI LIFESTYLE here.

Property Name: Jade Signature
Address: 16901 Collins Avenue, Sunny Isles Beach, FL 33160
Type: condo
Units: 192
Number of Floors: 57
Floor Plan: 1-5BR
SF: 1,400-4,600
Developer: Fortune International

Contact Miami Realtor Sydney Server for more information.

Sources: Jade Signature, The Real Deal
Video Credit: Vimeo
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage by Florida Capital Realty

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A recent survey by the PulteGroupe indicated that millenials would like to own single-family homes. Here are some of the top findings of the study:

Contrary to the belief that millenials will stay in the rental pool for longer, House Logic suggests that individuals between ages 18-35, who earn an income of $50,000 annually, are indeed favoring homeownership compared to rentals. Other investors believe that many will remain in rentals longer due to increased student loan burdens and a shaky economy. Nevertheless, the initial report by House Logic indicated that vying homeowners in this demographic would likely collaborate with a relative, significant other, or roommate to make the dream of homeownership possible.

The top reasons why millenials are seeking homeownership is due to the need for more space compared to apartment living. Another popular reason is that homeownership is perceived as a long-term investment.

In a comparable report, The Real Deal revealed that young New Yorkers are flocking to Miami for second home purchases. The amenities of swimming pools, tennis courts, waterfront living, parking, and nearby luxury retail shopping are just some of the many reasons why this location is so attractive.

If you’re a millennial or recent college graduate in Miami, and are planning to buy a starter home in this region, view our mortgage calculator here. Research insurance rates, property taxes, and maintenance to get a more practical view of the costs of owning a home.

If you’ve done your research and are ready to buy, contact Sydney Server Real Estate at 305-562-7363.

Contact Miami Realtor Sydney Server for more information.

Sources: House Logic, The Real Deal
Photo Credit: The Real Deal
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage by Florida Capital Realty

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