According to the Miami Association of Realtors, condo sales are on the rise in Miami-Dade County, taking into account that in past December existing condo sales rose by more than 29 percent, compared to December 2019, when there were 1,618 closings.
However, this trend is far from lowering, since there is a new high-rise development under construction in the noteworthy Brickell area, home to the financial district and ultra-luxurious offices and condos. The latest addition will be a multi-tower project that has the whole package: residential units, a glamorous hotel, office spaces, and retail.
This major Brickell high-rise project will be built by the Related Group in partnership with the luxurious hotel brand Baccarat, making a three-tower development with up to 1,400 residential units, an ambitious number of condos, probably never seen before in the county. The high-rise property will be located and built at 444 Brickell Avenue.
The Related Group, a very well-known Miami-based developer, and considered the largest condo developer in the city due to the number of units it has built, is raising the bet with this project, proofing the pandemic situation is not an obstacle to keep building new and attractive real estate projects. In fact, a handful of developers are working on construction projects that will see the light sooner than what people may think; a particular situation stimulated in part by the sales outbreak in single-family homes in the past few months, accompanied by an interesting increase in the high-end condos sales.
The hotel facilities of the mixed-use luxury condo project will be managed by Baccarat Hotel, known to be a French crystal maker and jeweler, as well as one of the most luxurious hotel brands located in Manhattan, New York, with The Baccarat Hotel & Residences construction. This real estate project is not the first of Baccarat in Miami since there is the Baccarat Boutique B Bar and Lounge in the Miami Design District. However, the Brickell high-rise development will be the perfect chance for Baccarat to be fully known by residents and visitors of Miami, offering them a new experience of elegance, glamour, and art, exclusive for a select group of people.
On the other hand, the high-rise development is set up to include 57-story, 77-story, and 82-story towers with hotel, office, and retail components, bringing four crucial elements people who are moving to Miami look for in one neighborhood. This time, they can get it all in one place, besides being located in Brickell Avenue, the road that reunites and connects the best restaurants, nightclubs, and condo towers of the town.
As to the residential units, according to marketing materials of the project, the plans are that these will range from one to four bedrooms, and the development will have an array of splendid amenities, including a state-of-the-art fitness center equipped with the latest technology, a business center with all the gadgets, a magnificent pool and an impressive riverfront promenade, so residents can enjoy peaceful and private walks with waterfront views.
The architecture firm for the future construction will be Arquitectonica, a usual design partner to the Related Group projects. As to the landscaping of the new Brickell development, this will be in charge of Swiss landscape architect Enzo Enea.
In 2013, The Related Group Related paid $104 million for the 444 Brickell Avenue property with an area of 4-acres. This property is home to an office building with a Capital Grille restaurant on the ground floor and, in fact, it is across the street from another high-rise condo construction also developed by The Related Group: Icon Brickell.