Last Thursday, I had the pleasure of attending a panel hosted by the Realtor Commercial Alliance at Miami’s Chop House. The panel was comprised of Ronald A. Shuffield (President of Esslinger Wooten Maxwell), Jack Lowell (Vice President of Flagler Development), Tony Puente (Senior Vice President at Fairchild Partners), Sergio Rok (Head of Rok Enterprises) with Alice Robertson (Executive Director of the DDA Miami) as Special Presenter and Leo Zabezhinsky (Manager, Business Development & Real Estate DDA Miami) as moderator.

It was a very informative session with each panel member bringing his expertise to bear and helping all of us in attendance paint a more complete picture of Brickell / Downtown Miami. Below are a couple of notes and stats that I was able to capture of this wide ranging discussion.

Quick Office Stats:

Class A –     Existing 7,923,724 SF          Occupancy: 87.2%
Class B –     Existing 8,173,994 SF           Occupancy: 81.3%
Class A –    Under Construction 1,200,000 SF
Average Rental Rate (Class A): $38.32
Daytime Population: 194,000

The class A office buildings under construction are Met 2 Miami (part of the Metropolitan Miami family) with 753,200-square-feet of office space and 1450 Brickell which will consist of 576,379-square-feet, both of which are scheduled for completion by first quarter of next year.

Both buildings have significant new tenants signed to long term deals with the law firm Bilzin Sumberg Baena Price & Axelrod LLP signing the last lease at 1450 Brickell just a few weeks ago.

At first glance, and given current market conditions, one may wonder why are these companies making long term investments in Brickell / Downtown Miami?

Besides the amazing view corridors of Biscayne Bay, the proximity to the airport and mass transportation, companies are preparing themselves for the 21st century. They are using technology and advances in construction techniques to make more efficient use of their space and they are fixing their costs by taking advantage of a generational rent situation.

The question is: why isn’t your company doing the same thing?
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Quick Residential Stats:

Residential Units (Total): 34,475
Population (Current): 45,000
Median Age: 40
Average Household Income: $72,100
Per Capita Income: $33,875
College Educated: 50%
Source:  ESRI

Current facts and trends indicate that about 500 new occupants a month are moving into the downtown area. About 15% of these new occupants are buyers. The other 85% are tenants that are taking opportunity of the the great deals being offered by developers and owners.  Please note that these are numbers based on the Multiple Listing Service and doesn’t include occupants that dealt directly with the developer or For Sale By Owners. If we were to account for those, the 500 number would be higher. At this current rate, we are filling up a building or two a month.

This means that if you are interested in buying for yourself or for investment, the time to do so will be now because median prices haven’t been this low in years and as the facts and trends above show, available inventory is decreasing by the day.

If you are looking to rent a condo in the Brickell / Downtown Miami, the time to take advantage of rental rates and incentives from the developer is now. Current inventory shows a 3-month supply, well below of what constitutes a healthy market. Pretty soon, the deals being offered by the developers will go the way of the dodo meaning you will be losing your chance to rent in a gorgeous condominium a stone’s throw away from your job as well as great attractions and venues.

Whether buying, selling or leasing, don’t let opportunity pass you by!!!

Oh, by the way…if you know of someone who is thinking of buying, selling or leasing space whether residential or commercial who would appreciate the kind of service I offer, I’d love to help them.  So, when you think of these people, drop me a line or just give me a call with their name and number.  I’ll be happy to follow up and tend to their real estate needs. Thank you for trusting me and Esslinger-Wooten-Maxwell Realtors with your real estate needs.

You can also take a nap (as long as you keep the snoring to a minimum), check email on your Iphone or even talk to a stranger if you are feeling adventurous. Essentially, you can do whatever it is that makes the ride to and from work more enjoyable to you. Trust me when I tell you that it is a lot better than hanging out your head out the window in a frustrated attempt to see what the hold up is ten blocks ahead of you and definitely a lot better than yelling and honking your horn at your fellow Miami drivers because they cut you off on US1 with no warning whatsoever.

Anyway, I digress for the purpose of this post and subsequent posts is to invite you as I get off at at different Metrorail and Metromover stations and tell you what your living and entertainment options are in Downtown Miami/Brickell.

Our first stop is the Bayfront Park station on our way to Metropolitan Miami. In case this is your first time hearing about Metropolitan Miami, Metropolitan Miami is truly downtown redefined. Metropolitan Miami is a $600 million mixed-use project located in the heart of downtown Miami being built under the auspices of the MDM Development Group and joined by The O’Neal Group (Shaquille O’Neal’s real estate development company).

Met 1 (already built) is the initial phase of the project and is made up of 447 diverse luxury condominiums that include lofts, tower suites and penthouses with amazing views of the city and Biscayne Bay. There is also Met 2 (currently under construction) which will feature the first urban-branded five-star MET Marquis, a JW Collection Hotel and 700,000 square feet of Class “A” office space. The next tower is Met 3 is a 74-story tower with 696 luxurious residences and features a 30,000 sq. ft., 24-Hour Fitness and Downtown’s only Whole Foods Market. Let’s not forget about Met Square which will feature a 13-screen theatre, restaurants, shops and services.

At Met 1, there are residential units available for purchase and for lease. If you are interested in buying, the current availability (as of 9/25/09) is as follows:

Lofts – floors 3 to LL (Lanai Level)
1 bed: $292,000 – $364,000               2 bed: $359,000 – $487,000

Tower Residences – floors 14 to 37
1 bed: $214,000 – $301,000                2 bed: $392,000 – $514,000

Penthouses – floors 38 to 40
3 bed: $1,100,000

If you are interested in leasing, the current availability (as of 9/25/09) is as follows:

1 bed / 1 bath – $1,3000-$1,450          1 bed / 1.5 bath – $1,400
2 bed / 2 bath – $2,000- $2,550

Lofts: 1 bed – $1,550-$1,850                2 bed – $2,000-$2,200

If you prefer a personal tour or getting more information about Met 1, please don’t hesitate to contact me. Also, if for any reason, Met 1 is not the right place for you, please let me know and I will help you find something somewhere else.

Oh, by the way…if you know someone thinking of buying, selling or leasing space whether residential or commercial who would appreciate the kind of service I offer, I’d love to help them.  So, when you think of these people, drop me a line or just give me a call with their name and number.  I’ll be happy to follow up and tend to their real estate needs.

Thank you for trusting me and Esslinger-Wooten-Maxwell Realtors with your real estate needs.

July 13, 2009– More people can now take advantage of living a sophisticated urban lifestyle in the heart of Downtown Miami, as Met 1, the residential component of the billion-dollar Metropolitan Miami mixed-use development is offering select units for leasing, starting at $1,250 per month – a price which includes cable, internet and telephone – with immediate availability thanks to a streamlined approval process for tenants that in most cases takes no more than 24 hours to complete. 

Met 1 Now Leasing

Additionally, Met 1 is offering a rent-to-own program where tenants may utilize a percentage of their rent to purchase their unit.  The 447-unit, 40-story building, developed by MDM Development Group, is in the epicenter of the sprawling downtown neighborhood and offers scenic views of Biscayne Bay and the City of Miami. 

“There is simply no development in downtown Miami like Metropolitan Miami,” said Patrick O’Connell, Senior Vice President of Esslinger-Wooten-Maxwell (EWM) Realtors’ Development Services Division and Managing Broker of the company’s Brickell office.  “Seven days a week, people are coming to our open houses and getting excited about what’s being offered here.  We are also making it convenient to get situated quickly.”

The L-shaped Met 1 is pet friendly, outfitted with a state-of-the-art security system and conveniently located near several Miami hot spots including American Airlines Arena, the Miami Art Museum, Miami-Dade College, Bayside and Bayfront Park.  One- and two-bedroom units, designed by architects Nichols, Brosch & Sandoval, are available starting at $1250 per month.

Kitchen designs include European wood cabinetry, granite countertops and stainless-steel appliances.  Elegant bathrooms offer custom marble vanities and stylish fixtures.  For added convenience, above the 12th level, residents will find a large pool and an exclusive “Great Room,” a private clubhouse and a fully-equipped health and fitness center. 

Individuals looking to live in downtown Miami have many options these days,” concludes O’Connell, “but the Met is in a class by itself.  Once people visit, it’s easy to see why so many have fallen in love with this once-in-a-lifetime community.”

Con una vista  maravillosa  de la Bahia de Biscayne, South Beach, Downtown Miami y el  Design District.  Este Penthouse tiene  tres dormitorios, tres banos, con 1903 pies y  374  pies de terraza.

Para la venta por  $749,000 o  para alquilar por $3,100

Soraia Farah

786-201-3830 cell

farah.s@ewm.com

The entry level features a modern kitchen with direct Bay views, flexible floor plan with 1/2 bath, balcony and 20′ wall of glass.  The dramatic two level loft features 20′ ceilings with a spiral staircase leading to the second level bedroom, Master bath, W/D, and Walk-in Closet.   The unit has been upgraded with designer lighting, window treatment, custom shelving, and is cable and internet ready.  The parking space is located on the same level as the unit for easy access, and the gym, pool, and other common spaces are exceptional.

Available for annual rental at $1,750/month.

Although the units are not yet compete what they will be like is evident and better than I expected. Nice cabinets in the kitchen and bath, solid doors, substantial hardware, quality appliances, and best of all- finished units-NOT DECORATOR READY. What a pleasure to be able to move in and not compete with hundreds of other unit owners to place carpet and tile and then deal with the attendant hallway mess for another year. An if that wasn’t enough, there was a furnished model set up and the opportunity to have your own unit professionally decorated by the date you close. In a market that has disappointed for a couple of years, I think Met 1 will give us something to cheer about.

The Miami Herald gives us a glimpse at our future skyline and the new “face” of Miami: http://www.miamiherald.com/multimedia/business/skyline/index.html

I moved to Miami Beach in 1980 and still I experience the same breath-taking feeling I had then. I feel fortunate to live in such a vibrant community, such a welcoming city. Miami Beach has everything you’ll ever need or want. It offers great food stores, Publix, Whole Foods and the world-famous Epicure specialty gourmet market. We have fantastic world-class restaurants, Prime 112, DeVitos, Quattro and so many more. We even have a Office Depot, and a fun and centrally located movie theater on Lincoln Road, a pedestrian-only mall with many shops and restaurants.

Miami Beach is surrounded by water, the warm and pleasant Atlantic Ocean and Biscayne Bay. Our beaches are some of the most beautiful in world and the nightlife is unparalleled. Celebrity sightings are a dime-a-dozen in South Beach, the hippest place in the world.

You can now your own “piece of paradise” at the unique Bentley Bay, located in the heart of South Beach. We have large condos for sale with magnificent wraparound views of the Atlantic Ocean and sparkling Biscayne Bay. The Bentley Bay consists of 2 side by side buildings, offering 24-hour security, valet parking, a swimming pool & spa surrounded by luscious palm trees and a state of the art gym. A restaurant is in the works at the street level, which will provide waterfront outdoor seating, managed by the well-known restaurateurs from Carpaccio, in Bal Harbor.

The Bentley Bay is within walking distance, or a short cab ride, from restaurants, clubs and a new Publix in a vertical mall presently under construction. Also, a 15-ride will take you to Miami International Airport, for your travel convenience.

So make your move now, and contact me at your earliest convenience to own a piece of South Beach. Life is good!

- World renowned chef signs agreement to bring famous NYC eatery,
DB Bistro Moderne, to downtown Miami -

MIAMI – MDM Development Group announced today that it has signed an agreement with world renowned chef Daniel Boulud to open a version of his famous DB Bistro Moderne in Metropolitan Miami’s Met 2 tower. Currently located only in New York City, the DB Bistro Moderne due in downtown Miami in 2009, will be the first one the chef has plans for outside of Manhattan.

“Metropolitan Miami is the perfect venue to launch a new DB Bistro Moderne,” says Boulud. “I chose Miami for its sunny urban energy, which I love, and I chose Metropolitan Miami for its mix of business, residential and entertainment elements. Choosing a restaurant location is a bit of an art. You have to be sure to put the right concept in the right space. DB Bistro Moderne is very urban and has the right feel for the renaissance that downtown Miami is undergoing.”

DB Bistro Moderne will be a casual yet polished spot where traditional French cuisine meets the flavors of the American market to create a modern French-American bistro. It is Boulud’s renowned contemporary interpretation of the Parisian bistro: a seasonal menu highlighting the quality of fine ingredients served in a casual setting.

As with its sister restaurant in New York City, it is ideally suited to a neighborhood with a strong business profile, as well as destination theater attractions. Manhattan’s DB Bistro Moderne is located just off of Times Square, placing it at the crossroads of the theater district, the fashion industry and Midtown offices. As a result, it has become one of New York’s top business lunch destinations especially for the media crowd, as well as a top pre- and after-theater choice. Chef Oliver Muller is currently serving as the Chef de Cuisine at the restaurant in Manhattan. Boulud has not yet named the Chef de Cuisine for the DB Bistro Moderne in Miami.

“Miami restaurant goers have sophisticated palates. I think they will appreciate what DB Bistro Moderne is about, casual dining with a very market driven menu that focuses on the quality of fresh ingredients. We put all of this in a contemporary and easy going setting with plenty of style, but no pretension,” continues Boulud.

“Chef Daniel Boulud is a culinary legend who has been very meticulous about expanding his restaurant group,” says Lyle Stern, of Koniver Stern Group, the exclusive retail leasing agent for Metropolitan Miami. “We are honored he has chosen to bring his DB Bistro Moderne to Metropolitan Miami.”

Recognized by Wine Spectator in 2005 with the magazine’s “Best of Award of Excellence,” DB Bistro Moderne is also a AAA four Diamond Award Winner since 2003. The menu of variations on a theme is arranged around broad categories of ingredients, some seasonal such as Asperge, Tomate or Haricot, some staple such as Volaille or Boeuf. Signature dishes vary by season, but one famous menu item is always available—the DB Burger. Made from ground sirloin with a center of tender red wine braised short ribs, foie gras and black truffle on a home-made toasted parmesan bun, the DB Burger is one of the most popular dishes at the bistro.

“The addition of Chef Daniel Boulud’s famous eatery further cements Metropolitan Miami as a desirable destination for residents and visitors alike to partake in shopping, dining, business meetings, entertainment, arts, and culture,” continues Stern. “This is the caliber of retailer that we will continue to seek for Metropolitan Miami.”

Met 2, a joint venture between MetLife and MDM Development Group, will feature 750,000 square feet of Class “A” office space in a 47-story tower, linked to the 42-story Miami Met Marquis, a JW Marriott Collection Hotel, the new super brand of luxury urban hotels of the luxury group of Marriott International. The hotel tower will feature 396 guest rooms. The graceful, tapered towers will rise from a 14-story podium that includes the office and hotel lobbies, nearly 25,000 square feet of column-free ballroom and meeting space, ground-level retail shops, a restaurant and lounge, and a 1,400-space parking garage. Atop the podium will be a lanai deck with the hotel’s pool, fitness center, and spa.

For more information on Daniel Boulud or DB Bistro Moderne visit www.danielnyc.com. For more information on Metropolitan Miami, contact EWM at 305-960-9990 or visit www.metropolitanmiami.com.

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About Metropolitan Miami
Metropolitan Miami, will be comprised of luxury high-rise residences with authentic lofts known as Met 1, Met 2 and Met 3, exciting retail venues, an lifestyle/entertainment center called Met Square, 500,000 square feet of office space, ample parking, pedestrian-friendly open piazzas, tree-lined walkways, loggias and an unmistakable electric city vibe, all surrounded by the signature water views Miami is known for. When all is said and done, Metropolitan Miami will BE Downtown Miami.

About Daniel Boulud
Daniel Boulud is the Chef-Owner of the five award winning restaurants and the Feast & Fêtes Catering company that make up his Dinex Group. He is also the author of six cookbooks and the creator of a line of “Connoisseur” gourmet products. While he hails from Lyon, it is in New York that he has truly mastered the culinary scene. Boulud’s style is marked for his unique use time honored French technique and the finest seasonal American ingredients. Over the last two decades, in addition to the artistry he performs to his New York City restaurants DANIEL, CAFE BOULUD and DB Bistro, the chef has also opened Café Boulud in Palm Beach and Daniel Boulud Brasserie at the Wynn Las Vegas Resort. This fall will witness the opening of Bar Boulud, a casual bistro and wine bar coming to Manhattan’s Lincoln Center neighborhood. In December 2007, the chef will take his talents much further a field with Maison Boulud, a French fine dining restaurant destined for Beijing’s Legation Quarter, an elegant complex of former consulate buildings.

Boulud’s culinary accolades include the James Beard Foundation awards for “Outstanding Restaurateur” “Best Chef of New York City” and “Outstanding Chef of the Year”. His restaurant, DANIEL, has been named “one of the ten best restaurants in the world” by the International Herald Tribune, received Gourmet Magazine’s “Top Table” award, a coveted four star rating form The New York Times as well as Wine Spectator’s “Grand Award” and New York City’s top ratings for cuisine, service and decor in the Zagat Survey. In 2006 Boulud was made a Chevalier de la Legion d’Honneur by the French government.

Daniel Boulud’s most recent endeavors include the After Hours with Daniel series on INHD TV and Braise: A Journey Through International Cuisine”, recently nominated for a James Beard Foundation cookbook award.

New Signature JW Marriott Collection Hotel to Debut at Metropolitan Miami
Joins Daniel Boulud’s DB Bistro Moderne

MIAMI –Metropolitan Miami’s Met 2 project, a real estate joint venture between MDM Development Group and MetLife, will be home to the country’s first Miami Met Marquis hotel, a signature new addition to the exclusive JW Marriott Collection Hotels, announced Tim Weller, vice president of development for MDM Development Group.

“Miami Met Marquis is a bold new brand for our portfolio that will be synonymous with modern urban luxury” says, Donald Semmler, executive vice president of Marriott International Corporation. “Soaring 42 stories – it will rise over the heart of Miami – setting a new standard for downtown style and 21ST century sophistication. The Miami Met Marquis will not only offer uncompromised luxury, but also outstanding amenities and the highest level of services.”

Setting a new threshold of luxury for the prestigious JW Marriott Luxury Collection, Miami Met Marquis aspires to offer five-star luxury in the city’s most technologically-advanced hotel. Miami Met Marquis will appeal to international travelers seeking a superior downtown Miami location, exceptional guest services and amenities, outstanding views, cutting edge technologies, an intuitive, bilingual, staff and other operational advantages for which the Marriott brand is renowned.

Designed by one of the world’s leading architectural firms specializing in hotels and resorts, Nichols Brosch Wurst Wolfe & Associates, the 396-room Miami Met Marquis, will offer a new interpretation of modern luxury and design fusing ultra-luxury guest rooms and suites, restaurants, retail, and office spaces in a contemporary setting. Public and social spaces will encourage “social networking” and offer natural materials, fabrics and furnishings welcoming to guests traveling alone or in groups.

Miami Met Marquis will also be home to one of Miami’s most talked about new restaurants—Chef Daniel Boulud’s DB Bistro Moderne. DB Bistro Moderne will be a casual yet polished spot where traditional French cuisine meets the flavors of the American market to create a modern French-American bistro.

“The Miami Met Marquis is the perfect venue to launch a new DB Bistro Moderne,” says Boulud. “Choosing a restaurant location is a bit of an art. You have to be sure to put the right concept in the right space. DB Bistro Moderne is very urban and has the right feel for the renaissance that downtown Miami is undergoing.”

Other Miami Met Marquis amenities and services include:
• 24-hour room service
• Concierge services
• Valet
• Business center
• 20,000 square feet of retail shops split between the first and second floors
• A world-class spa and full-service gym facilities with locker rooms, pool and Jacuzzi located atop the podium on the lanai deck
• 25,000 square feet of column-free ballroom and meeting space – one of the largest ball rooms of its size in downtown
• A link to the 47-story office tower, which will boast 800,000 square feet of Class A office space.

The Miami Met Marquis will further differentiate its brand by being a part of the $1 billion Metropolitan Miami project. The Met 2 towers will be joined by the Met 1 and Met 3 residence towers and the development’s entertainment complex, Met Square.

“The Miami Met Marquis really completes the Metropolitan Miami project,” adds Weller. “The combination of Class A office space and a first-class hotel makes Met 2 the perfect place for social and business ventures.”

The Marriott brand has become synonymous with exceptional quality, service and value, which has led to consistent growth in Marriott properties throughout the Caribbean and Latin America. Marriott Hotels & Resorts focuses on the Achievement Guest, individuals who are driven to perform, who thrive in excellence, whether it’s for their company, their family or their own sense of accomplishment.

For more information on Metropolitan Miami contact EWM at 305-960-9990 or visit, www.metropolitanmiami.com.

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About Metropolitan Miami
The $1 billion Metropolitan Miami project features two residential buildings called Met 1 and Met 3, the building in which Shaquille O’Neal’s The O’Neal Group is engaged in; a hotel and office component, the two-towered Met 2; as well as an entertainment complex called Met Square. This pedestrian-friendly destination in the heart of the city also features an array of shopping areas, lifestyle and entertainment options including, a 45,000 square-foot Whole Foods Market, the consistently top Zagat Survey-rated Manny’s Steakhouse, Chef Daniel Boulud’s DB Bistro Moderne, a 24-Hour Fitness/Shaq Ultra Sport Fitness Center and a complete cinema complex; and tranquil plazas as a haven for downtown residents and visitors.

About MDM Development Group
Based in Miami, MDM Development Group is a development and management company comprised of a management team with extensive experience in developing, owning and operating luxury hotels, office buildings and commercial mixed-use projects throughout South Florida. Since 1990, MDM has developed, owned and managed numerous properties in South Florida, including the JW Marriott Hotel, Dadeland Marriott Hotel, Courtyard by Marriott, Mellon Financial Center, Datran I, Datran II and Dadeland Executive Center. The company’s executive team provides expertise in all facets of real estate development and management, including design, construction, management, land development, marketing, financing, asset management, technology services and staffing services.