The Real Deal Miami

South Florida by the numbers: Year-end edition

December 13, 2013 12:00PM
By Master Brokers Forum

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Faena House rendering

Faena House rendering

“South Florida by the numbers” is a web feature that catalogues the most notable, quirky and surprising real estate statistics. Here at the by the numbers headquarters, we do things a little differently. As we say farewell to 2013, that means zigging when everyone is zagging! This time of year, you can find lists recapping the biggest South Florida real estate deals of the year, or stories showing how the region’s home sales and prices stacked up to previous years. These are useful and entertaining, but with our 2013 finale, we offer some numbers BEHIND the stories that made the past 12 months truly unique and compelling. So, do the Harlem Shake, rewatch that “Breaking Bad” finale, sing “Blurred Lines” with your windows down, and enjoy this edition of South Florida by the numbers!

$750 Million

Estimated total spent to purchase existing properties and develop the “Faena District” in mid-Miami Beach, along Collins Avenue. Envisioned by Argentinean developer-architect Alan Faena and his financial backer, billionaire Len Blavatnik, the district will revitalize a historically lifeless neighborhood and transform it into the city’s bustling epicenter. Internationally-recognized names such as Britain’s Lord Norman Foster, architect Rem Koolhaas, New York-based Roman and Williams and film director Baz Luhrmann will all lend their creative talents to the district, which introduced the 18-story Faena House tower (and its $50 million penthouse) earlier this year. [Miami Herald]

1,100

When completed, the height in feet of One Brickell CityCentre, as announced by developer Swire Properties in September. The 80-story tower will be Miami’s first “Supertower” (an official FAA term); the tallest building south of Manhattan, and the tallest in the U.S. outside of New York and Chicago. [Miami New Times]

7

Acres encompassing the new Ritz-Carlton Residences in Miami Beach, the former site of the Miami Heart Institute. Developed by Lionheart Captial, this new Ritz property will feature 126 residences, including 111 condos and 15 single-family homes, priced between $2 million and $25 million for penthouses. The developer paid $20 million for the site in February 2012. [World Property Channel]

50

Depth in feet of PortMiami after the completion of a $220 million dredging project, which began late this year. By increasing the depth, PortMiami will be able to handle larger “Post-Panamax” ships that can carry two or three times the load of standard freighters. Miami is currently the only port south of Norfolk, Va., with congressional authorization to dredge to 50 feet. [Reuters]

$41.5 Million

Winning bid for Miami Beach’s historic Versace Mansion, sold at an auction in September to the Nakash family (owners of Jordache Enterprises.) The Nakashes beat out local big-name bidders such as Donald Trump and Glenn Straub of the Palm Beach Polo and Country Club to win the auction, and later announced that they will be turning the house into a boutique hotel to be operated in conjunction with the adjacent Victor Hotel. [Huffington Post]

3

Number of NBA championships won by the Miami Heat. The third (and second in a row) was accomplished in June. While the short and long-term impact of these titles on Miami is difficult to measure, experts agree that gains in tourism (2.5 percent in monthly hotel occupancy) and media exposure ($7.1 million for each home Finals game) are significant and tangible. [Sun-Sentinel]

200,000

Square footage of the just-opened Perez Art Museum Miami (PAMM), located on Biscayne Bay between the Arsht Performing Arts Center and The AmericanAirlines Arena. Named for Miami mega-developer Jorge Perez, who donated more than $40 million worth of art and cash, the PAMM (designed by award-winning architects Herzog & de Meuron) is expected to dramatically enhance Miami’s standing in the world of art. [CBS 4]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.

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