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Units At Twin-Tower Project On Miami River Will Be Among The Most Expensive In Downtown Miami

Units At Twin-Tower Project On Miami River Will Be Among The Most Expensive In Downtown Miami

Kar Properties has revealed pricing and the name of a twin-tower project planned for the north bank of the Miami River.

The developer told the Herald that units at One River Point, as the project is named, would start at $850 per square foot, with prices ranging from $850,000 to $12 million. That would make it one of the most expensive projects ever in downtown, priced significantly higher than the current $620 per square foot that the average preconstruction project in Brickell is asking.

Luxury features at the 350-unit project will include 10 to 12 foot ceilings, unusually large balconies, and private elevators. The Rafael Viñoly-designed towers will also feature a robotic parking garage, and an 85-foot waterfall fronting the river.

Each tower would rise 60-stories, or 779-feet. Construction will be complete in 2018.

KAR CEO Shahab Karmely said that land in Miami remains cheap compared to global cities such as London, New York and Hong Kong, and that luxury will be moving inland. He said the project would include a second phase, with rentals, hotel units, and less expensive condos.

 

Previous: Full project plans

 

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William P
William P

Mr or Mrs TNM. The funniest post I have ever seen is gone! Did your attorney’s have it removed? Did Peter Zalewski issue a take down request? You had 26 comments in no time!!!

I was going to log in and throw my few pennies!!

For those of you reading this post after 9pm Monday night, The best TNM post of all time ….on the condo vulture himself.. has been removed… SORRY..

Anonymous
Anonymous

Impossible sell.

Anonymous
Anonymous

pessimistic folks

Anonymous
Anonymous

Hey obvious propaganda guy, you realize this isn’t NYC, right? Compared to Monaco, NYC is cheap, but those aren’t exactly analogous markets. This is still Miami, and prices need to make sense in this market to sell, especially with foreign money drying up.

Anonymous
Anonymous

It sounds high to me too, but people paid even more for 1000 Museum, which is not the best location either (wedged between two buildings overlooking the industrial port and without much to walk to without homeless harassing you for money), so there’s no saying what could happen.

Anonymous
Anonymous

Good point, but 1000 Museum had a couple things going for it:
Starchitect’s first residential tower (i.e. possible landmark status)
Huge units with low density
Unobstructable bay view
Market timing and appeal to the target demographic

Just don’t see how many people will come out of the woodwork at these prices in this stage of the game.

Anonymous
Anonymous

if 1000 museum gets built, doubt it will ever look like it was designed too and dont think I want to live in that location..not fan- like this area much better- the river really interests me

Anonymous
Anonymous

hard sell

Anonymous
Anonymous

NO SELL – this is a big waste of time, no sales center yet and already delayed two years

Anonymous
Anonymous

Project will never breakgound so the price does matter

colin
colin

they have the cash. it could happen.

Anonymous
Anonymous

love all of these “anonymous” experts…quite amusing

Dev1
Dev1

This guy Shahab has never built anything

Anonymous
Anonymous

you know him?

Anonymous
Anonymous

Shahab has the cash Vinoly has the experience!!!

Anonymous
Anonymous

If Shahab has the cash then they would’ve cracked out the gold shovels and broken ground already, this place doesn’t even have a sales center yet. Hmmm can anyone say SCAM…

Anonymous
Anonymous

Correct Dev1 – Shahab is a CON man, research him in the press and you will find he’s a SCAM!

broker305MIA
broker305MIA

wow… impossible sale. I’m optimistic about Miami but I doubt this project will happen soon.They will probably have to wait till end of 2017 to begin sales and completion in 2020. No bayview. Not the best location. No Retail component.

Anonymous
Anonymous

770ft is very tall, about the same as the Four Seasons (the current tallest) so it will tower above all nearby buildings for sure. There will be views.

Anonymous
Anonymous

the towers face each other – the only view you will see is your neighbor and the sky…plus all the jet noise from the airport. Bad design, terrible developer who doesn’t know his head from a hole in the wall

Anonymous
Anonymous

no one says anything about the views in NYC or other cities- think this location beats many of the others. I live in a city now and I would take these views any day of the week instead of looking into my neighbots bathroom

Anonymous
Anonymous

I just don’t like this design. Just one tall cylindrical structure like the Porsche Design Tower would be less obtrusive on the neighboring towers views and (depending on how it’s designed) would be really more attractive.

Anonymous
Anonymous

twin towers seem much less obstructive than one massive tower- and as far as prices- this is cheaper than echo brickell and 1000 museum- living in NYC- this sounds like a steal- especially since 432 Park Ave. is probably the most expensive building around

Anonymous
Anonymous

think there has not been anything like this in downtown – think it will do well. Epic has resales for more than? and those are crappy small units- cool urban feel
hope it works out well

Anonymous
Anonymous

He is late to the party. It is half past midnite and most of the others have already left the party. Especially with that nondescript location with no bay or ocean views and no park nearby. Too much oligarch money afloat around the world these days.

Anonymous
Anonymous

Think this is the way Brickell is headed and I like it! Way cheaper than nyc and other cities!

Anonymous
Anonymous

Finally a gorgeous sophisticated building to match this new city of Miami!

Anonymous
Anonymous

The only thing gorgeous is looking out of one building into another watching your neighbor in the shower cause the two buildings face each other and have blocked views. It’s going to be a building for peeping Tom’s lol

Anonymous
Anonymous

Vinoly for $850 a foot is a deal. This project will contribute to the further activation of the river and will be a valuable addition

Anonymous
Anonymous

So because it’s further activating a developing area, it deserves record prices? What a bargain!

Anonymous
Anonymous

Love this urban oasis/enclave … Vinoly at those prices are seriously the deal of the decade!

Anonymous
Anonymous

Compared to NYC, it’s cheap! On a river with a doorman in a gated community with bay and city views too!