The Real Deal Miami

Check out construction progress of One Thousand Museum

$600M project has 83 units with 54 percent sold

UPDATED Dec. 23, 1:20 p.m.: One Thousand Museum, the Zaha Hadid-designed luxury condominium rising at 1000 Biscayne Boulevard, has reached the 28th floor of 62 stories, with completion set for the end of 2018.

Hadid designed the entire tower, including the amenity spaces and furnishings, marking her first residential tower in the Western Hemisphere designed before her death in March.

The Real Deal recently took a tour of the construction site, hosted by Gregg Covin and Todd Michael Glaser, two members of the development team, which also includes Louis Birdman, Kevin Venger, Gilberto Bomeny and Regalia Group.

Covin said Plaza Construction is completing one story a week, with pours starting at 2 a.m. each time. About 175 workers are currently at the site, which broke ground in December 2014. Total construction costs are estimated at $260 million, with total sellout of $600 million, he said.

Among the key features of the 83-unit tower are the exoskeleton, which incorporates 4,800 precast panels made in Dubai and shipped to Miami. Covin said One Thousand Museum is the first project in the United States to use the panels.

The tower is also designed without any interior columns, and features floor-to-ceiling windows, curved walls, “Gaudiesque balconies,” and a rooftop helipad, Covin said.

Condos from floors 15 to 49 are half-floor, four bedroom, five-and-a-half bath units spanning more than 4,600 square feet. Floors 10-14 have two-story duplex units with five bedrooms and six-and-a-half bathrooms encompassing more than 8,300 square feet. Floors 50 to 57 are full-floor units with more than 10,000 square feet. There is also a two-story penthouse, and the top two floors have event space and an indoor pool.

“This is like building 83 homes for me, all at one time,” Glaser told TRD. “Zoning allowed 550 units but we chose to do 83,” he added.

The eighth floor of the tower will have a fitness center and pool deck, dubbed a  “Sun and Swim Terrace,” while the ninth floor will have a spa with private treatment rooms and a relaxation lounge.

One Thousand Museum also will have a 5,600-square-foot restaurant on the ground floor, which has not yet been leased. “I’ve shown it to all the big restaurant guys but we haven’t made a deal yet,” Covin told TRD.

Residents and guests will arrive at the tower under a covered valet drop-off on 10th Street.

So far, 45 of 83 units are presold, or 54 percent, including five sales made in the last month to buyers from the United States, Brazil, Mexico, Puerto Rico and Uzbekistan. This month, the developers closed on a $225 million construction loan for the project.

Overall, buyers have also hailed from the Middle East, Turkey, Poland and Norway. Prices range from $5.5 million to more than $20 million.