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.
Photo credit: thenextmiami.com
by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...
by Sep Niakan | October 31, 2016
From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...