374-Unit Condo Tower Says it’s 85% Reserved
MIAMI TODAY By Patricia Hoyos Although its sales center has yet to open, 374-unit BrickellHouse is over 85% reserved and scheduled to begin construction within 60 to 90 days. “Sales are progressing well ahead of schedule and everything is looking good,” said Harvey Hernandez, founder of the project’s developer, the Newgard Development Group. Reservations for the luxury condominium project began rolling back in November, said Alicia Cervera, managing partner Cervera Real Estate. Four months after launching, BrickellHouse was already 50% reserved. Sales activity has been led by international buyers paying in cash. A 10% deposit is required with each reservation, another 10% payment is made when the buyer signs the contract and the rest of the payments are made throughout construction of the $170 million project. The condominium’s sales center, at 1451 Brickell Ave., is expected to open by the end of May. Once completed, BrickellHouse is to offer condos ranging from studios and 1-, 2-, 3-bedroom units to 7,000-square-foot penthouses. Unit prices start around $200,000 and rise to $1.5 million, said Mr. Hernandez. Residences will feature private balconies, gourmet kitchens and premium appliances and finishes. Newgard’s recent projects include Solaris in Brickell, Gallery Art in the Miami Arts District and City Palms in downtown West Palm Beach. The building will have Brickell’s first-ever, members-only rooftop sky deck and pool and its 46th floor and a fully automated robotic parking garage. With a capacity of 480 vehicles, the automated garage eliminates the need for drivers to drive up and down ramps and look for parking. Residents will be able to drive into a central loading area and then the automated system is to take over. The technology, which costs $6.5 million, provides green and safety benefits. Amenities include a high-definition screening room with a 10-foot screen and theater-style seating, a 50-foot-long lap pool, a health spa and fitness center. Expected to be completed in the second half of 2014, BrickellHouse will include street-level office and retail space. So far, the only retailer announced is Meat Market Steakhouse, a popular South Beach eatery that is to open its first mainland Miami location in the condo. BrickellHouse is to become one of the first projects to break ground since 2008, helping fuel Miami’s condo development wave along with MrBrickell and Millecento Residences.