Downtown Miami Condos, Pre-construction Pricing
Prestigious Brickell Area, 1100 Millecento, Condos From $226,000
March 26, 2012
Joel Greene here from Condo Hotel Center. Back in October 2011, I told you about a 25-story, to-be-built residential development in downtown Miami that was pre-selling its condos. That was MyBrickell, and it is now sold out, all 192 units, in less than five months. So much for the depressed Miami real estate market!
That project was being developed by The Related Group, Miami’s largest vertical condo developer. Now, because of the great success at MyBrickell, The Related Group has just announced plans to build a second condo tower in Miami’s prestigious Brickell neighborhood. Like MyBrickell, these condos can be reserved in advance, offering buyers an opportunity to lock in pre-construction prices. Read on for more details.
1100 Millecento Residences
A 43-story tower, Millecento will offer sensational views of Biscayne Bay and the downtown Miami skyline. It will have 382 condos. It will feature a sophisticated interior design by the legendary Italian design firm Pininfarina, including a breathtaking two-story lobby exquisitely appointed with sleek European furniture and finishes. Other amenities will include:
- Club Citta – 9th floor resort deck with heated pool, spa and sun terrace
- Cielo Club – 43rd floor amenities deck with cabanas and infinity pool overlooking Biscayne Bay and the city skyline
- Health spa with men and women’s steam and sauna facilities
- Elegant clubhouse with billiards, catering kitchen and multi-media facilities
- Access to the exclusive, beachfront Club Mare on neighboring Key Biscayne
- Fully-equipped fitness center overlooking pool deck
- Specialty shops and café planned for the street level spaces
- Curated art collection throughout the building’s public spaces
- Private screening room with theater-style seating
- High-speed internet access in all public areas
- Concierge staff and services
- 24-hour complimentary valet parking
- 24-hour attended security services and controlled access
1100 Millecento as an Investment
If you’re interested in owning a Miami condo and renting it out, let me provide some of the relevant data. Approximate rental rates in the Brickell area range between $2.00 & $2.50 per sq. ft. On average, rents in the Brickell area have grown 10% annually since 2008 due to a) people moving to Brickell and, b) new office jobs created in the area.
Additional demand will be created when Brickell Financial Plaza opens in 2012. It will have 400,000 square feet and approximately 4,000 people, many of whom will likely want the convenience of living close to their workplace.
Brickell, Miami’s Most Desirable Address
In the heart of Miami’s financial district, the Brickell area is one of the most happening locales in the city. It’s a great place to vacation or reside and is considered Miami’s business hub. The area also offers fine dining, shopping, live entertainment and cultural attractions. Brickell is Miami’s most prestigious address.
1100 Millecento is just three short blocks from the social hub of Mary Brickell Village with its park-like setting, community center, designer stores, specialty retailers, restaurants, cafes and bars as well as large anchors including Publix grocery store, LA Fitness, PF Changs and more.
1100 Millecento will be just 10-15 minutes to Miami International Airport, beautiful Key Biscayne and exciting South Beach. It’s also less than 10 minutes from the new Performing Art Center, Bayside Marketplace and American Airlines Arena.
It offers easy access to the Metro Mover and Metro Rail with service to South Miami, the business districts in Greater Miami and a line currently under construction known as the Airport Link to Miami International Airport.
Just a few blocks from 1100 Millecento Residences construction will soon begin on Brickell CitiCenter, a mega-project with the following features:
- A new $700-million, 4.6 million sq. ft. business and shopping district
- Multiple urban office towers, condominium high-rises and downtown apartments
- Four city blocks of restaurants, upscale shops such as Harrods, and elite hotels
Brickell CitiCenter has already been approved by the City of Miami. Construction is expected to start by June with completion anticipated by 2015.
A Well-Respected Developer
Jorge M. Pérez is the founder of The Related Group, the largest Hispanic-owned business in the U.S. It has a development portfolio of projects worth in excess of $10 billion and the distinction of having been the number one multi-family developer in the nation.
Since its inception, more than 30 years ago, the firm has built and/or managed more than 80,000 apartments and condominium residences.
Under the direction of Pérez, The Related Group has redefined the South Florida landscape. 1100 Millecento is just one of about a dozen developments they have in Miami and Miami Beach along with other very successful projects like the Icon Brickell, Viceroy Hotel, 50 Biscayne and The Yacht Club.
Construction Schedule for 1100 Millecento
Ground breaking for 1100 Millecento is scheduled for September 2012 with completion of the property expected by November 2014. The condos can be reserved now at pre-construction pricing.
A 10% deposit holds a unit until contracts are ready, expected to be July 2012, when an additional 10% deposit is due. Additional monies are due at various stages of construction and completion.
Why 1100 Millecento Represents a Great Opportunity
Here’s a quick summary of why 1100 Millecento is worthy of your consideration:
- Project is by the Related Group, 30+ year track record
- Stunning design and ultra-sophisticated finishes in the building and condos
- Fantastic, resort-like amenities
- Incredible location within Brickell area, Miami’s financial district
- Favorable pricing for condos reserved in pre-construction
Available are studios and one- and two-bedroom units, ranging from 578 to 1,270 square feet. Prices start at $226,000 and go up to $550,000.
Want more information? I have plenty. I’ve put together a detailed data sheet. Just provide your name and contact information required by the developer at the link below, and we’ll get that right to you.
Downtown Miami Heating Up
I’m excited to see all the activity that’s going on in downtown Miami, of which 1100 Millecento is just one small part. Part of the attraction is lower real estate prices, down from the market’s peak years, but all the activity, development and jobs in the area are also a big part of it.
The signs are very positive, very encouraging. Miami has so much to offer. It’s nice to once again see this part of the world on the upswing.
As always, thank you for your interest in the properties we showcase at Condo Hotel Center. If you’d like to see what else we have available, check out our Featured Properties.
Have a nice day!
Licensed Real Estate Broker
Condo Hotel Center
1368 NW 165th Ave.
Pembroke Pines, FL 33028
(954) 450-1929 Joel@CondoHotelCenter.com
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