2018 Recap: Major Miami Projects Completed

2018 was a strong year for Miami’s luxury housing sector. Major Miami projects completed included the Paramount World Center, the largest construction in the city and one of the largest private master-planned projects in the United States. The luxury tower contains 60 stories and is completely wrapped in glass.

The average price range for apartments go from $700,000 to $1.4 million, with over 500 residences in the building. In Overtown, where the luxury tower is located, the median listing price is currently $851,333, as reported by Trulia. The average price point of residences within the center fall within a similar price range of properties in the area.

The master developer of the property, Miami Worldcenter Associates, is led by principals Art Falcone and Nitin Motwani. The designers included several high-end aspects including: sunken pods, a soccer field, tennis courts outdoor bath gardens, and a recording studio.

The project was a joint venture between the Falcone Group, a privately held real estate development organization, and Centurion Partners, a team of professionals with more than 150 combined years of real estate experience.

In the surrounding area, there are several new public and private projects totaling $5 billion. The projects provide convenience to residents with easy access to mass transit, recreational parks, entertainment spots and institutions.

The center has a variety of uses that cover retail, hospitality, as well as residential and commercial spaces and resides north of the Central Business District.

Jade signature

Created by Pritzker Prize-winning Swiss architects Herzog & de Meuron’s, the Jade Signature is a residential luxury tower that boasts three floors solely for amenities and 53 stories of residences that show breathtaking ocean and city views.

Currently,  there are 58 condos for sale ranging from $700,000 to $29,500,000. The average price point for Jade Signature apartments remain higher than the market average for properties of similar specs. In Aventura, the neighborhood where the tower resides, the media  listing price is $969,600, as reported by Trulia.

The designers built the tower with the intention of maximizing sunlight and included numerous luxury amenities such as: a Turkish bath, tech lounge, beach bar and grill, wine bar, and a state-of-the-art fitness center.

Additional features include: a large Kapok tree that functions as the central point at the entrance of the tower. In March, more than 95% of the Jade Signature residences were sold.

Elysee Miami

The incredible Elysee Miami is located on the Biscayne Bay in Beverly Terrace and is surrounded by several popular areas like the Miami Design District and Miami Beach.

The layout of the building includes 100 residences ranging from $1,730,000 to $3,400,000. The average price point of residence in the building are situated much higher than the average cost of residences in the area. Currently, the median listing price in Beverly Terrace is $408,000, as reported by Trulia.

The luxury building is 57 stories and includes incredible aspects such as: white glove concierge services, 2 parking spaces per resident, maid and butler service, valet parking, 24-hour security surveillance, and an expansive motor court. Other perks include: a 75-foot pool, fitness center, yoga studio, barbeque area, and terraces with views of the ocean.

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