Newsletter February 2017 – Discover The Power of the Magic City with BarnesFebruary 4, 2017
Barnes – Newsletter February 2017 – Discover the Power of the Magic City
Adam REDOLFI – Barnes
Pre construction projects : Trends for 2017
Overall, 2016 has been marked by a slight slowdown in the sales volume of new developments in many global cities such as New York, Paris Miami or London.
There are, however, some differences between Miami and New York in the structure of these new buildings. “In Miami, for instance, most developers cannot break ground until they have sold 60 to 70% of the project in hard contracts. That actually makes the Miami market pretty stable when it comes to new developments, since all buildings that are constructed are most often sold out. The buildings that still have a lot of inventory usually pull the plug and delay the sale for the next cycle, which avoids any risk of empty units on the market
Usually, in cities such as London, Paris or New York, most of the developers begin construction simultaneously at the start of marketing actions with the assumption that the building will be sold at the time of delivery.
In a tight market, developers have to redouble their efforts in creativity and innovative ideas, by combining luxury and « boutique » style, by favoring a small units number and by partnering with a luxury home or a worlwide renowned architect. The reason ? Because of the exclusivity and the rarness of the product of the timeless markets.
It’s in this spirit that Vladislav Doronin, a billionaire Russian developer, plans to go ahead with his first tower of “condos” in Florida: “Missoni Baia“. Michael Stern, an other developer, built “Monad”, a very exclusive building on a human scale designed in Miami Beach by Jean Nouvel.
It is the same with “Aston Martin Residences”, and “Armani Casa“, two pre construction projects based on the brand image, or the breakthrough of new “Starchitects” such as Zaha Hadid, and Norman Foster Renzo Piano.
As usual in real estate, the location is the key : the “AAA” value in Miami is always being waterfront, or in central neighborhood and easy access. With an average of 1,000 new residents per day in Florida, with all types of budgets, from the most affordable to the most extravagant, developers and investors still have numerous opportunities.
This means that more than ever, that you must to select a development from trusted developers and to be guided by an expert who will provide you with valuable insights and product that will gain value on the long term.
February 3 and 5 2017: Explore time with the exhibition Miami Antique, design & Art Design Show
Miami Antique, Design & Art Show is a fair deeply steeped in history, which makes you traveling through time. Organized by Dolphin Promotions at the Miami Airport Convention Center, this 3 days event is an opportunity to discover a broad range of rare antiques and decorative arts such as gems, jewelry from the 17th, 18th and 19th centuries and from vintage 20th century modern.
For more information: www.miamiantiquesartdesign.com/
February 16 and 20 2017: Highlights on the Miami International Boat show
With its 1,300 boats and yachts and 1,100 exhibitors expected this year at the Miami Marine Stadium Park & Basin, the Miami Boat Show’s 2017 edition promises to be another success. Organized in mid-February, during the President’s Day, this event has become, in 29 years, one of the largest in the world. Visitors come from all over the world to discover the most modern yachts and sailboats, which are always more innovative. Some leave with a new acquisition, others with a dream for another year.
For more information: www.miamiboatshow.com/
February 16 and 20 2017: Join the prestigious art fair Art Wynwood at the Art Wynwood Pavillon
Produced by Art Miami LLC, Art Wynwood is a 5-day event, which brings together collectors street artists, emerging young talents, world-renowned contemporary and modern artists. Last year, the unique art fair attracted more than 36,500 prominent artists and art aficionados from all over the world. Sponsored by the legendary street artist Shepard Fairey, the sixth’s art fair edition will hosts 50 galleries from more than a dozen countries.
For more information: www.artwynwood.com/
February 22 and 26 2017: Delight your taste buds with the South Beach Wine and Food Festival
2002: the first culinary festival of South Beach is born ! It has become a major event today, with its giant tents along South Beach and more than 65,000 participants from around the world who are always enjoying delicious meals prepared by famous chefs and drinking fabulous wines.
For more information : www.sobefest.com
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