{"id":1004051802,"date":"2012-07-20T10:06:22","date_gmt":"2012-07-20T18:06:22","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=58292"},"modified":"2020-04-13T11:21:07","modified_gmt":"2020-04-13T19:21:07","slug":"with-90-percent-of-units-sold-brickellhouse-goes-vertical","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/with-90-percent-of-units-sold-brickellhouse-goes-vertical\/","title":{"rendered":"With 90 Percent of Units Sold, BrickellHouse Goes Vertical"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor<\/em><\/p>\n

July 18th marked the construction start for one of Downtown Miami\/Brickell\u2019s first\"\"<\/a> luxury residential developments since the 2008-09 economic downturn\u2014the 48-story BrickellHouse condominium development. Developer Newgard Development Group commemorated the occasion with an official ceremony held at the BrickellHouse site at 1300 Brickell Bay Dr.<\/p>\n

Construction was prompted by the project\u2019s planned sales goals being met, with nearly 90 percent of its 374 units already being sold.<\/p>\n

\u201cThe innovative design, cutting-edge features and prime location of BrickellHouse enabled our sales team to get the attention of buyers both here and abroad,\u201d said Cervera Real Estate Managing Partner Alicia Cervera Lamadrid. \u201cAs the tower moves full-steam-ahead to vertical construction, we still have premium units available for buyers seeking an urban lifestyle in Miami\u2019s upscale Brickell neighborhood.\u201d<\/p>\n

Miami is experiencing an appetite for high-end, new-to-market product from international buyers who are accustomed to paying in cash. According to a recent report by the Miami Association of Realtors released in May, all-cash sales accounted for 64 percent of total closed sales in Miami-Dade County and 78 percent of condominium closings in the area.<\/p>\n

In fact, BrickellHouse\u2019s sales velocity has been fueled by a majority of cash-heavy buyers from Europe, Canada and a range of Latin American countries such as Argentina, Venezuela, Mexico and Brazil.<\/p>\n

\u201cMiami\u2019s status as an international destination is attracting buyers from across the globe, helping turn around the real estate market much more quickly than in any other city in the country,\u201d said Harvey Hernandez, Newgard Development Group\u2019s chairman and managing director. \u201cNewgard created BrickellHouse with this demand in mind, knowing the existing condo inventory in our urban core would soon diminish and incorporating design elements that reflect the modern, urban city Miami has become.\u201d<\/p>\n

Upon completion, BrickellHouse will offer condos ranging in \"\"<\/a>size from studios and one-, two- and three-bedroom units to 7,000-square-foot penthouses. The $170 million luxury development will feature private balconies with expansive bay, ocean and skyline views as well as top-notch amenities, including a 46th-floor rooftop pool deck, luxury health spa\/fitness center and a fully-automated robotic parking garage system\u2014the first of its kind in the area\u2014with high-capacity communication technology and a wealth of green innovations that help minimize residents\u2019 carbon footprints.<\/p>\n

The condominium project is set for completion in 2014.<\/p>\n

Images Courtesy of Schwartz Media Strategies<\/em><\/p>\n

For more market data from Miami, click here<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

July 18th marked the construction start for one of Downtown Miami\/Brickell’s first luxury residential developments since the 2008-09 economic downturn—the 48-story BrickellHouse condominium development.<\/p>\n","protected":false},"author":1269,"featured_media":1004506882,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004051802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"\nWith 90 Percent of Units Sold, BrickellHouse Goes Vertical - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/with-90-percent-of-units-sold-brickellhouse-goes-vertical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With 90 Percent of Units Sold, BrickellHouse Goes Vertical\" \/>\n<meta property=\"og:description\" content=\"July 18th marked the construction start for one of Downtown Miami\/Brickell’s first luxury residential developments since the 2008-09 economic downturn—the 48-story BrickellHouse condominium development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/with-90-percent-of-units-sold-brickellhouse-goes-vertical\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-20T18:06:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-13T19:21:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/BrickellHouse-Ground-Breaking.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/with-90-percent-of-units-sold-brickellhouse-goes-vertical\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/with-90-percent-of-units-sold-brickellhouse-goes-vertical\/\",\"name\":\"With 90 Percent of Units Sold, BrickellHouse Goes Vertical - 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