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Miami Properties

25
Mar

Completed – The Largest Hotel in South Florida

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Construction of Largest Hotel Structure in South Florida Completed

Although the 287-room JW Marriott Marquis Miami hotel opened in November 2010, construction of the entire related downtown multi-million-dollar project wasn’t officially completed until last week, according to Boston-based Suffolk Construction Co.

In a prepared statement, Suffolk calls the project a milestone for the company’s portfolio of completed works in Florida.  Suffolk’s Southeast office is in West Palm Beach, FL.

However, construction industry sources familiar with comparable luxury lodging projects say the hotel’s 257 rooms, 56 suites, 32 meeting rooms; 80,000 sq ft of total meeting space and other related facilities on the 41 floors probably came in at about $500,000 per room or an estimated total of $143 million.

The construction cost of the entire Wells Fargo Center enclave approaches $1 billion, according to estimates from various construction industry sources.

The JW Marriott Marquis Miami boast of having the largest ballroom space in downtown Miami, at 20,000 square feet.

The proximity to the Miami financial district combined with the variety of meeting space “makes the JW Marriott Marquis Miami an excellent option for a larger or more intimate group,” according to a previously published statement from Marriott International.

Located at 345 Avenue of the Americas, the JW Marriott Marquis Miami and the Hotel Beaux Arts are at the center of the new Met Miami entertainment and lifestyle complex, which is close to the financial district and American Airlines Arena – home of the Miami Heat, and a short drive from South Beach.

 

 

Article Source: http://www.worldpropertychannel.com/us-markets/vacation-leisure-real-estate-1/jw-marriott-marquis-miami-suffolk-construction-marriott-international-inc-chris-kennedy-scott-prince-miami-luxury-hotels-hotel-beaux-arts-wells-fargo-center-3926.php

Category : Hotels | Hotels For Sale Miami Florida | Miami Properties | Blog
25
Mar

Increase in Miami Hotel investment expected

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Increase in Miami Hotel investment expected

Miami is poised to become a hot spot for hotel investors this year, according to a new report.

Hotel investment services firm Jones Lang LaSalle Hotels says deal volume in the area could reach $750 million, which would be a 250 percent increase over 2010.

The firm expects sales of several large upscale properties in Miami Beach and the downtown Miami/Brickell area to go through in 2011, with plenty of involvement from real estate investment trusts (REITs) and foreign investors.

That projection is based on the number of distressed properties that are controlled by lenders — and ripe for investment — as well as a lack of new supply coming into the market following the economic downturn.

“We feel there’s a lot of money out there that’s chasing hotel deals, but they’ve got to be good markets,” said Fernando Garcia-Chacon, executive vice president for Jones Lang LaSalle Hotels in Miami. “And Miami’s got to be one of them.”

Brands are also expected to take advantage of some deals with their own capital, as Marriott did in July when it bought the former Seville Beach Hotel on Miami Beach in a $57.5 million short sale. The property is slated to join Marriott’s hip new Edition brand after extensive renovations.

“I think that shows you these hotel experts do have a lot of confidence in South Beach,” Garcia-Chacon said.

Another important marker: The August purchase of the Royal Palm Resort Hotel on South Beach for $126 million by real estate investment trust Sunstone, which bought the hotel at a foreclosure auction. Jones Lang LaSalle Hotels marketed the property for the bank.

Transaction volume in Miami was more than $210 million last year, the firm said, which was a 40 percent increase from 2009.

Garcia-Chacon said he anticipates mostly renovation and repositioning this year as investors grow more confident in Miami’s economic recovery and strength as a destination.

Read more: http://www.miamiherald.com/2011/02/24/2084083/increase-in-hotel-investment-expected.html#ixzz1Hc7tYPsc

 

Category : Hotels For Sale Miami Florida | Miami Properties | Blog
12
Jan

Miami Income Properties

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Miami Income Properties

 

Residential Income Property
Miami, Florida
Unit has spectacular ocean view (with South Beach on the left )High end apartment at Jade. Marble floors throughout. Miele Appliances, kitchen…
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$720,000
1,730 SF
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Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
Better than most bonds and money markets. Earn 6% cash-on-cash after maintenace fees and taxes. Altos de Miami Condos offer condo units for sale…
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$103,900
1,484 SF
3.00%
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
Suject property is a luxury condominium with 1,305 sf space. It features 2 large bedooms, 2.5 baths, balcony. 1 indoor parking space. Large…
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$555,000
1,350 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
LOCATION, LOCATION 15 UNIT APARTMENT BUILDING MUST BE PURCHASED WITH 6400 MANOR LANE MLS# M1061752 OR FOLIO# 09-40-36-042-0340. THESE 2 PROPERTIES…
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$2,650,000
10,747 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
Spacious two-story 3BR/3.5BA Penthouse unit with amazing views on luxurious Brickell Key. Brand new kitchen with high end granite countertops,…
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$850,000
2,032 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
2 Bedroom/ 2.5 Bath Corner Lower Penthouse in Brickell Key luxury high rise. High Ceilings. Brand new kitchen with granite counter tops, Great…
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$499,000
1,257 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
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$57,270
1,130 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
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$180,000
800 SF
5.00%
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
2 STORY BUILDING W/ 12 (1 BR UNITS), 100% OCCUPIED!!! gREAT INVESTMENT. NEW WINDOWS, NEW PAINT IN AND OUT, NEW KITCHEN. EACH UNIT HAS ONE ASSIGNED…
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$875,000
7,500 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
24 Unit Little Havana Building. Price @50K/Unit To Sell Fast, Owner Very Motivated
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$1,300,000
13,550 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
Majestic is a full-service real estate company based in Miami, Florida whose primary business has been the marketing and sales for…
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$50,000,000
100,000 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
$10000 Bonus to buyer’s rep!! Buy this as an income producing property and use as development site later.Being sold with full set of plans and…
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$759,000
5,116 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
$10,000 bonus to buyer’s agent!!! 14 UNIT MULTI FAMILY APARTMENT BLDG LOCATED ON MARTIN LUTHER KING BLVD, WHICH HAS JUST UNDERGONE A 10 MILLION…
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$749,000
6,987 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
$ 20,000 bonus to buyer’s rep. less than $50,000 per unit. 36 units buildings. 2 buildings in great shape span block from 58 st. to 58 terrace…
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$1,790,000
17,964 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
$ 20000 bonus to seller’s representative at closing. great income. high traffic area close to all major highways. faces hgwy #112. property zoned…
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$1,199,000
5,390 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
LITTLE HAITI CASH-COW PRICED TO SELL. 5 RES. UNITS FULLY RENTED OUT AT BETWEEN 450-650 MONTHLY. GROSS INCOME 33,600 WITH EXPENSES TOTALING 6,52…
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$289,000
2,745 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
UNIQUE OPPORTUNITY. 26 UNIT CONDO CONVERSION BUILDING ALL THE REMODELING WORK HAS BEEN DONE IN PREPARATION FOR THE CONVERSION. SEPARATE WATER AND…
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$1,649,000
NaN SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
Shamrock By the Gables condo unit 513. A 2/2 floor plan with balcony. Overlooking Downtown Coral Gables. Marble tile throughout living, dinning…
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$275,000
920 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
GREAT INVESTMENT PROPERTY ADJACENT TO UNIVERSITY OF MIAMI OFF RED ROAD ON MILLER DRIVE. HOUSE/GARAGE CONVERTED INTO 5 BEDROOMS & 5 BATHROOMS WHICH…
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$675,000
2,219 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
5 story 14 units ( one studio apt) l shaped building surrounded on three sides by surface parking . the building is constructed of reinforced…
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$6,000,000
24,876 SF
3.00%
Residential Income
Single-Unit (SFR/Condo)
Residential Income Property
Miami, Florida
DRASTICALLY REDUCED!!! FOR SALE OR FOR RENT! LOCATION LOCATION LOCATION! Live in an area surrounded by half a million to million dollar…
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$199,000
730 SF
N/A
Residential Income
Single-Unit (SFR/Condo)
Category : Miami Properties | REO | Blog