Clicky

Sales For 94-Story Tower Won't Launch Until There's A 'Good Cycle'

Sales For 94-Story Tower Won’t Launch Until There’s A ‘Good Cycle’

A sales center for 300 Biscayne will be ready in two months, but it won’t be activated right away.

Developer PMG is waiting for a “good cycle” to begin sales, principal Ryan Shear told The Real Deal. New condo launches are likely to ramp up in 2019 or 2020, he added.

The 94-story project will include 640 condos and a luxury hotel brand, in a 1,049-foot tower that would be taller than any other building currently in Florida. Carlos Ott is the architect.

Related Group is also waiting to launch two projects. The developer is “looking for signs” on when to start sales at One Brickell (444 Brickell Avenue) and 1400 Biscayne, President Carlos Rosso told the magazine. “Right now it’s not the right time,” he said.

 

 

40
Leave a Reply

avatar
  Comment Notifications  
newest oldest most voted
Notify of
Anonymous
Anonymous

Waiting for a good cycle my ass, you just want to frustrate the good people on this TNM board waiting for this.

marc
marc

Lot’s of developers lined up to build the first 1000’er but nobody want to be first. Who will break the seal?

Anonymous
Anonymous

Meanwhile, at BCC and MWC. . .

Anonymous
Anonymous

What good cycle?? Just build it!

Anonymous
Anonymous

They said this over a year ago. They don’t have the goods.

Ani Pinkert
Ani Pinkert

no, there is a lot of over inventory, has to be absorbed , before launching a new project, its called doing business right

Mondocondo
Mondocondo

It’s an interesting concept, but probably the wrong product for that location, at least for now. The sales won’t fly until the “luxury” hotel flag is named.

Condo prices are not inelastic in the downtown market. See the neighboring 1000 Museum, which has had a very slow sellout, and the high-end Aston Martin and River Point are poised to follow suit. Cheers

Anonymous
Anonymous

So what do you call this cycle a bad cycle? Every time I hear reports of a slow down I here 75% sold 80% sold 90% sold. People are are still buying units so even though you might say it’s a slow down Miami is hot right now! Who wouldn’t want to live in the tallest building in Florida with unobstructed waterfront views? Build the damn thing now!

Anonymous
Anonymous

Isn’t the area saturated with condos that few owners live in? Maybe a few top notch hotels and office buildings are more in order. With Miami World Center bringing more condos maybe this developer is reconsidering. Great, because this,while being the super tall we’ve been waiting for,is tacky and detractsee from Miami.

Anonymous
Anonymous

That would be”detracts” (typo)

anonymous
anonymous

The buyers in Brickell/Downtown market are typically investors that inflate the prices. Seen this show before (yawn). Unfortunately, we are in a slow market. And all those developments have taken years to sell. In the last boom projects sold within 12 months at latest two yrs. But this is a much more stable market. These buyers had to come in with 50% deposits so the chaos of 2007 should not repeat itself this time around. It will just take a while for those condos to fill up with actual tenants.

Anonymous
Anonymous

Developers inflate their presales numbers, gotta take those figures with a grain of salt

Anonymous
Anonymous

I can’t be the only one who thinks it’s ugly.. It doesn’t fit the skyline

Anonymous
Anonymous

“Fit the skyline”? Woof. What a terrible argument against this building. Nothing “different” or “unique” or “iconic” would ever get built if they all had to “fit” the previously existing skyline.

Anonymous
Anonymous

Not interested in the “previously existing skyline”,just a more appealing footprint on the skyline that does not look ametuerish.

Anonymous
Anonymous

Museum Tower fits and it is unique. Good try though

Anonymous
Anonymous

You’re not. Believe me. It’s like Godzilla left his lego blocks behind.

Anonymous
Anonymous

A bunch of milk crates stacked haphazardly, one on top the other. How is this awesome? Poor taste and inappropriate for such a high profile area. Much like how Milo has obliterated the architectural significance of the Performing Arts Center.

Anonymous
Anonymous

Yeah, but the Melo Group projects will put more butts in the seats at the Performing Arts Center, and believe me, that’s wayyyy more important.

Anonymous
Anonymous

Lmao??

Anonymous
Anonymous

Good honest, sensible , development. Its nice to see this rather than announcing of questionable pre-sales and absurd groundbreaking parties.

anonymous
anonymous

Although, I don’t mind those groundbreaking parties… they are fun!

Anonymous
Anonymous

a 1k footer deserves a hoverboard saxophonist

Anonymous
Anonymous

With a touch of scantily-clad ? Or ?

Anonymous
Anonymous

I wonder how many people have read references to this on all the subsequent posts and have been like, wtf? lol

Anonymous
Anonymous

Downtown Miami would better served if the developer took this delay to have his architectural team to propose a more significant building.

Anonymous
Anonymous

This building would work better in NYC…where it would’nt risk being the “Signature Supertall” for the region.Maybe a redraw with something sleeker while they’re taking this break?

Anonymous
Anonymous

In the meantime I hope they redesign that building… they could do a lot better.

Anonymous
Anonymous

Agreed.

Anonymous
Anonymous

this will never get built now

Anonymous
Anonymous

This announcement sounds like they were not a party to or will benefit from Amazon HQ2 discussions.

anonymous
anonymous

Amazon is not here yet! (praying)

Magazine
Magazine

Yikes, not a good sign. Markets at all time highs, dollar not prohibitively strong for foreign investors, consumer and economic confidence all very strong, and rates surely rising over the next several years.

If this cycle isn’t good, I don’t know how / when it gets better, and I’m afraid we see a big time delay in this project, if it ever gets built.

Anonymous
Anonymous

Markets may not continue to climb since the yellow man has decided to start a trade war with China, our biggest lender and trading partner.

Mondocondo
Mondocondo

Miami condo sales are mainly driven by Latin American demand, so what matters is how those economies are performing, and less so ours. Trump’s anti immigration rhetoric may also have hurt foreign investment here. Cheers

Anonymous
Anonymous

Thank you PMG Developer for your delay, please submit a better designed building to enhance Miami skyline.

Jesus
Jesus

Man, this sucks. These guys seemed serious a few months back and now they are not going to do it! Ughh! Hollo! We need you to save the day! Swire, get on line and get that tower up!

Ani
Ani

All of the comments I read are wrong and clueless from ignorant people making opinion of what they don’t know.

Anonymous
Anonymous

Is it just me or does anyone else think the fourthcoming Miami skyline will be a clusterf*** of lights?

Anonymous
Anonymous

It’s just you.