One River Point Launches Sales, Releases Floor Plans; Construction To Begin In Fall 2016

KAR Properties launched sales last week for One River Point, but announced that construction won’t begin until Fall of 2016.

Previously, the developer had said that completion was targeted for mid-2018. That seems unlikely with the new start date.

Last week, the developer released about ten percent of the 350 units planned. Pricing starts at about $750 per square foot.

In November, more units will be released to the public after a $7 million sales center opens, according to The Real Deal.

At the top of the tower, a sky club will feature several restaurants, a screening room, and cigar lounge. Membership will be open to the public.

 

floor plans:

 

 

 

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miami1

Umm, interesting on the presentation you can see the two additional towers they are planning on the two lots closest to the I 95 ramps.

Anonymous

Also interesting is The Ivy has mysteriously vanished in the mock up! 😉

Anonymous

The Ivy is there…

Anonymous

The first* mock-up.

MrDreTheOne

This project will sell well with investors, its got a waterfront location, some unique features and its within a stone’s throw of Brickell City Center.

Anonymous

Umm, not sure why an investor would want to pay prices nearly double the rate for the area…would take a big gamble to assume those prices will continue to increase. Plus this will be a hard sell for rentals, and they would need top rental dollars to get a solid cap rate. There’s just too much competition for this price point…with things that are actually waterfront (not on the river) and in prime areas (not across the bridge). Given, this is a special project and will likely appeal to people wanting something special and not caring as much about the price. I personally think end users are this project’s main shot, even if those end users are only there a couple weeks/months per year.

Anonymous

I hope it works out but this looks too good to be true. The first budget issue and 75% of the things that make this building look cool will vanish. Waterfall, sky bridge, etc.

Danny Costa

Fine architecture!

Anonymous

Even with all the gimmicks, it’s still two boxes. The City of Miami deserves better architecture than what you find in Brasilia or Tel Aviv.

Anonymous

But, the boxes are selling. Miami deserved better than a lot of empty lots in downtown and Brickell.

Anonymous

Re Tel Aviv-check out new the Meier on Rothschild condo and you will see that this projects has an outstanding design!

Anonymous

Both are terrible, most the buyers are investors, seasonals, and/or foreigners, and if the architecture was truly something spectacular, it would win the Driehaus Prize.

Anonymous

Each building will be starring at each others units face to face. lol

Anonymous

Have you ever been to downtown or brickell? That is the norm.

Anonymous

Anybody want to take a guess on the price of a membership in the Sky Club?

Anonymous

ya free membership cause this property will never exist lol

Anonymous

Are the balconies under air? Because in some of the renderings the dining room appears on the balcony.

Anonymous

I think they’re trying to do what Wind by Neo tried doing – large, covered outdoor spaces that act as extensions off the living rooms.

Anonymous

There are lots of mistakes on the renderings, this project will never happen

Anonymous

I think the sky club with hog all the sky from those penthouse units!!

Anonymous

That’s a lot of sky to hog!

Anonymous

Are they nuts??? $750psf??? On the other side of Brickell.. This developer must be nuts!

Anonymous

You’re going to really be shocked when you see asking prices starting at $700 a sqft in 2018 for the Brickell west area.

Anonymous

Yes, and keep in mind that prices START at $750 psf. That’s for a unit on a really low floor. Most of the 1 bedroom units will be priced at or around $900K-$1M. For $800K, you can buy a 1 bedroom unit at Jade at Brickell Bay with a direct water view that will never been blocked. Roughly the same square footage too. Hmmmm….riverfront on the other side of the bridge at $1M, or bayfront in Brickell with no chance of obstruction at $800K?

Anonymous

The developer is not only nuts he’s a total scam, do your homework before you consider pulling out your purse or wallet on this property. What a waste of time and energy, its clear at this point this project is not ever going to be built

Anonymous

We make this same price argument on every new project no matter where it is, but are proved wrong every time. What everybody fails to realize is Miami has changed and still is changing. Real estate here has sky rocketed from just a few years ago, we are still thinking 10 years earlier. If you think 2015 you would understand units will sale for that much even in that location. Its about luxury here, these people are filthy rich you think they care about how much something cost?

Anonymous

Then why stop there? I think you guys should price this project at $2,000 per square foot if it makes no difference.

daniel305

does anyone know how many feet tall these towers will be?

Anonymous

Zero feet daniel305 cause it’s not gonna happen

Anonymous

Ouch! Looks like Realtors will need to wait a long, long time to get paid their commissions on this project. And if the developer is already saying that construction won’t begin until Fall of 2016, that likely means early 2017 at best.

Anonymous

now they say 2018…don’t buy into this project, way to expensive and developer is only offering 20% off because he is desperate. If they were serious there would be a sales center already.