The 3rd largest casino company (Genting Malaysia Berhad) in Asia just purchased 13.9 acres of waterfront land owned by the Miami Herald, for $236 million. The property stretches from Biscayne Boulevard to Biscayne Bay. This landmark deal will reshape the surrounding downtown area, bringing more life and vitality to an already booming portion of the city.

In a public statement, the Herald publisher noted that while their operations have thrived in this area for a number of years, the space was no longer conducive to ongoing operations. The $236 million land/property deal was also in part prompted by The Herald’s need to bolster funds, specifically to address funding needs of the organization’s pension plan, to repay some company debts and to address taxes. The newspaper’s executives have provided additional assurances that this sale will in no way interrupt their normal course of business.

The Genting group estimates the total construction project cost to be between $2-5 billion, which will not only boost the local economy, but will result in the creation of numerous jobs. The current plans for the property include a hotel, retail shopping, high rise Miami residences and a convention center.

“This deal has generated a great deal of excitement within the Miami real estate community, as it is at or near to the highest price paid per acre in Dade history,� said Lana Bell of Sunny Realty. “A deal of this magnitude will create tremendous opportunity for not only local residents and businesses, but for the surrounding property market.�

Many local Miami real estate experts

feel that this deal serves as an endorsement for Miami. Asian developers chose the area not only due to the opportunity and price point, but the potential to draw international and domestic tourists, a strong revenue source for any project of this type.
“Successful real estate transactions such as this merely validate the strength of the South Florida real estate market. While this deal is certainly the largest to come our way in some time, it is surely a sign of what is to follow. South Florida is hungry for Miami luxury residential developments, both for current area renters as well as international visitors,� said Lana Bell, of Sunny Realty.

While the deal has been closed, construction isn’t expected to commence for 2 years, which corresponds to the allotted time frame provided to The Herald for relocation. The newspaper is currently searching for property within the area, although they may divide the printing and publication portions of their organization should the right space not be found to accommodate both.

From every angle, this landmark deal serves as a positive sign for Miami’s real estate market.

When you usually think of luxury condos in Brickell

the Jade Residences Condo most likely comes to mind and if it doesn’t let me educate you. The Jade Condo Brickell was designed by Revuelta Vega Leon, which is responsible for developments such as Bristol Tower, Santa Maria Condo, Porto Vita Aventura, Jade Residences as well as Carbonell Brickell Key, just to name a few. You know when you step into a Revuelta Vega Leon development you are getting the very best of Miami luxury real estate. Let me not digress from the true focus, which is Carbonell the luxury condo development located on Brickell Key. This is kind of an “in the know� development for the simple reason it was not marketed to the public originally but to residence on Brickell Key.

Carbonell Condo

was built in 2005, with 284 units. This was Revuelta Vega Leon subsequent development from Jade Brickell, which was built in 2004. He corrected all the design flaws from Jade, but kept the luxurious feel. If you are looking for a rental in this building then you are out of luck, you wont find one. Owners’ focus is to keep the integrity of the building and they have definitely succeeded.

The location of the building is ideal to be close enough to the action of Brickell but secluded enough to avoid the noise pollution. Also, if you are into fitness you will be hard pressed to find a development with a more complete array of equipment. The fitness center even has two racquetball courts! So this development definitely has the trinity of location, design and amenities. Come see for yourself why Carbonell is one of Miami top luxury condo developments. Also, take advantage of some of the great deals available!

The Brickell area of Miami

is one of the best known areas in town for culture and the various restaurants and shops that are most popular in Miami. This is one of the upscale areas in town, and it’s home to many growing families, young single professionals, and retirees. The Santa Maria Brickell condominium is one of those that is located in this prestigious area of town right on the ocean front. It has many advantages for investors as well as live in buyers.

One of the main advantages of this Downtown Miami condo is that it’s literally right on the bay. This location is great for vacationers who may want to rent your investment condo, and it’s also good for families who want a place to take their own vacations in a condo they own. Plus, the condo is close to the night life and other attractions in the area, and it’s situated near Biscayne Bay.

Also, this upscale, fifty story condo has other advantages built in. It is landscaped with an entire garden that is full of interesting pathways and shady groves of trees. The Club House, Cabana, and Gazebo areas are all great places for residents and visitors to hang out.

Sports and recreations at this luxury condo include an outdoor pool and lighted tennis courts. The recreational facilities may be the biggest advantage of Santa Maria condo. These are facilities that a live in family will love having, and they can also be marketed to vacationers who are interested in renting the condo. All of these elements mean that Santa Maria condos are excellent investments financially and socially. No matter whether you want to live in Miami or buy a condo in Miami to rent out most of the year as an investment, Santa Maria Miami is a great place to look.