Miami Condo Market and Lifestyle Updates
Goodbye Old Downtown; Hello Worldcenter

Goodbye Old Downtown; Hello Worldcenter

by Sep Niakan | August 24, 2015

Developers for the Miami Worldcenter megaproject are beginning their demolition work, starting with the groundbreaking coming soon for the project.

Demolition crews began demolishing the former Mekka nightclub in the end of July, and several other buildings on the property are going down as well.

The Mall at Miami Worldcenter, Paramount Condo Tower, and ZOM rental tower will be the first subprojects to come as part of Phase One. Construction with take approximately three years, according to developers.

Dan Kodsi, developer of Paramount, said that there are reservations for about 40% of the units, which is a little over 200 of the 513 units that they have planned. A 50% deposit is required for reservations, and prices average around $700 per square-foot. They are already beginning to convert reservations into contracts as we speak.

Of the 200 units sold, 13% came from China, meaning Chinese buyers purchased around 25 units.

Brokers for Paramount said that there were reservations for 25% of the units in Paramount back in April. If the numbers match up, that means around 80 units have sold in the past three months.

 

Source: thenextmiami.com

Photo credit: thenextmiami.com

Recent posts

Real Estate News

Move over Edgewater condos, here come the hotels

by Sep Niakan | February 22, 2017

A previous blog on how a petition to privatize an alley adjacent to Cité Condo sparked rumors of a new hotel coming to Edgewater did spark another thought process. It seems the latest trend for developments in Edgewater is to either be a...

Lifestyle

Where to Find the Best Latin and Caribbean Food in Miami?

by Sep Niakan | February 15, 2017

Miami has always been a melting pot of cultures. From the Bahamians that came to work at the Peacock Inn in the 1870s to influx of Cuban immigrants in the 1960s. Miami didn’t just welcome people with open arms, but also embraced their...

Lifestyle

A Note from Sep: Valentine’s Day Thoughts in Miami, The Global City

by Sep Niakan | February 14, 2017

Valentine’s is just around the corner, and while most people equate Valentine’s Day with romantic love, I prefer to celebrate love in a broader sense. To me, it’s more about celebrating bonds and relationships of all kinds,...

Real Estate News

2017 is Going to Be a Renter’s Market for Downtown Miami Condos and Apartments

by Sep Niakan | February 12, 2017

If you thought living in Downtown Miami was a distant dream, think again. 2017 comes bearing great news for those who’ve always wanted to live close to the urban core but couldn’t afford it. You will now be able to rent a Downtown Miami...