{"id":1004102141,"date":"2014-08-12T10:58:16","date_gmt":"2014-08-12T18:58:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004102141"},"modified":"2022-12-05T04:49:21","modified_gmt":"2022-12-05T12:49:21","slug":"melo-launches-sales-for-luxury-miami-condo-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/melo-launches-sales-for-luxury-miami-condo-tower\/","title":{"rendered":"Melo Launches Sales for Luxury Miami Condo Tower"},"content":{"rendered":"<p><i>By Barbra Murray, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004102038\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/melo-launches-sales-for-luxury-miami-condo-tower\/aria_miami\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg\" data-orig-size=\"270,270\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Aria_Miami\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg?w=270\" class=\"alignright size-full wp-image-1004102038\" alt=\"Aria_Miami\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg\" width=\"270\" height=\"270\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg 270w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Aria_Miami.jpg?resize=150,150 150w\" sizes=\"auto, (max-width: 270px) 100vw, 270px\" \/><\/a>The Melo Group has launched sales for Aria on the Bay, an ultra-luxury, 647-unit condominium high-rise in downtown Miami. The prolific regional developer has nothing but confidence in the market\u2014and the project&#8211;despite a high-octane local development scene.<\/p>\n<p>Miami\u2019s condo market is on fire largely because of one factor. \u201cThe city&#8217;s fast recovery is due to Miami&#8217;s international appeal, no doubt about it,\u201d Martin Melo, principal with the Melo Group, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Carrying the address of 1770 N. Bayshore Dr., the 53-story Aria will stand in downtown Miami\u2019s burgeoning Arts &amp; Entertainment District. Prices range from the $300,000s for a one-bedroom unit to $4 million-plus for penthouses with private elevator access.<\/p>\n<p>\u201cAria was designed to attract a large range of buyers, rather than targeting the ever-coveted wealthy international buyer. Our goal was to create a luxurious building attainable for residents of different echelons,\u201d Melo said. \u201cThis concept will create a vibrant environment, capable of attracting wealthy part-time residents who visit Miami only a few months out of the year and professionals living and working downtown.\u201d<\/p>\n<p>The Melo Group, which has built 13 residential buildings in the Greater Downtown Miami area over the years, is an old pro at developing in both good times and bad. The company was the first developer in the city to use cash-focused financing &#8211;a 50-percent, cash-down financing program that Melo first employed in Argentina. That model enabled the firm to finance 23 Biscayne in 2011, the first condo project in Miami to start construction after the housing market crash.<\/p>\n<p>\u201cAria is our third\u00a0condo development in this new cycle, and we expect most of the buyers to be from South America and Europe, including the United Kingdom and Russia,\u201d Melo noted. \u201cThe other two condos we built in this cycle sold mainly to international buyers, and we don\u2019t see that changing in the near future.\u201d<\/p>\n<p>The Melo Group plans to kick off construction of Aria in early 2015 and expects to be ready for the first residents in 2017.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Melo Group has launched sales for Aria on the Bay, an ultra-luxury, 647-unit condominium high-rise in downtown Miami&#8217;s Arts &amp; Entertainment District.<\/p>\n","protected":false},"author":969,"featured_media":1004102038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1492,21742],"tags":[39396],"class_list":["post-1004102141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-miami","category-latest","tag-miami"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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