Marina Palms Yacht Club and Residences is the first luxury condominium and yacht club project in the last two decades to be constructed in Miami-Dade County. The project has just launched and is now accepting reservations from interested buyers.
The 25-story condominium towers will be located on 17201 Biscayne Boulevard in North Miami Beach and will consist of two towers, each with 234 units along with its full-service marina.
The project is being developed by iStar Financial and The Plaza Group with offices located in Aventura.
“These two developers are definitely known for the quality of their product. If you’re able to look through their design, you can really see the quality of them,” said Jennifer Markovich, sales executive on the project.
Set to commence construction in the third quarter of 2013, the project’s estimated completion date is estimated to occur in the last quarter of 2015. The timetable for the project may seem far in the future, but investors are already taking action as prices only rise the closer the project nears completion. Markovich said affordability is one of the main reasons this development is worth looking into.
“Definitely most important is the value price per square foot,” said Markovich.
“Nobody can touch us. When you’re looking at competitors from a buyer’s perspective, you’re asking ‘what is it costing me?’ Based on finishes, amenities, and price, we stand apart.” Prices for units start at $311 per square foot and range to $527 per square foot.
All properties will include imported Italian stone countertops and floating bathroom vanities by Snaidero, a major Italian manufacturer of modern and innovative furniture. Grohe, the largest and world leading manufacturer and supplier of sanitary fittings is responsible for the bathroom fixtures in all of the models.
Another distinct feature of the property is its large balconies. While the size of the outdoor terrace on each unit varies, they are each 8 feet deep with glass railings and floor-to-ceiling glass, nine feet or more in length.
“The view is amazing,” said Malkovich.
“The balconies are angular. No matter where you are in the building you are still going to have some views. It’s not just a small balcony that you go out on. There is actually living space.”
The property will offer various two bedroom and three bedroom models varying in the number of bathrooms (2, 2.5, 3, 2.5) for a total of 6 different options.
Prices for the two bedroom units range from $594,000 (1,912 sq. ft.) to $922,000 (1,904 sq. ft.). As for the three bedroom models, prices range from 723,000 (2,287 sq. ft.) to 1,396,000 (2,599 sq. ft.).
“The functionality of these floor plans is amazing,” said Markovich.
With over 30 amenities, Marina Palms is not without its vast residential privileges. Aside from the gated community’s a state-of-the-art fitness center, club room, and business lounge, residents will also enjoy an infinity pool that will seem to vanish into the ocean’s horizon. It will have a news café with a daily newspaper service as well a studio for yoga and pilates.
One of most interesting features of this development is its full service marina. Offering 112 boat slips for yachts up to 90 feet in length, Marina Palms will provide boat-owning residents with a full service concierge, a full-time dock master, fueling services, as well as dockside Internet and cable services. The private marina will offer boat slips in conjunction with their unit at $2,500 per linear foot.
The pricing schedule for Marina Palms is 10 percent during the reservation, 10 percent at the sign of the contract, 20 percent at groundbreaking and 60 percent at closing.
The units are larger than those that can be seen on the Beach or Brickell (2 bedroom starting at 1821 Sq.Ft)
The prices are much lower than those at the ANY othe comparable project in Aventura (Average Price is $400/ Sq.Ft. – coming up from $350/Sq.Ft from last time we blogged about this project, some months ago). Comparative units in other buildings right now (like Belamare Condo or Penninsula 2 which have sold anywhere from $530 a sqft to $600 in the last 30 days – March 2013). If you specifically want a Condo with direct access to a boat slip it will cost you much more than $400 per sqft anywhere else in Miami!
The condominium has a 112-slip private marina for yachts up to 90 feet in length
The Views are amazing (Half the building has Bay and Marina Views)
The Location is excellent: Close to the Beach of Sunny Isles, Bal Harbour and South Beach, Close to the Financial heart of Miami in Brickell, close to the main shopping malls in Miami: Aventura Mall and the Shops at Bal harbor and located between Miami and Ft Lauderdale Airport.
More importantly: THIS SEEMS TO BE A SUPERB INVESTMENT OPPORTUNITY!!!! The uniqueness of this project (a sum up of the above) will guarantee great Return on Investment
Area : North Miami Beach (South Florida)
Status : Pre-Construction
Developer: The Plaza Group
Architect: Slattery Associates
Number of Units: 468
Unit Sizes: From 1768 to 1,287 s.f. (164.2 – 212 M2)
Number of Boat Slips: 112, up to 90 Ft in length
Price Range: $600,000 to $1,600,000
With 468 residences in two towers overlooking a 110-slip marina, the Marina Palms Yacht Club & Residences is a nautical enthusiast’s dream. No matter your level of interest in waterfront living, Marina Palms will offer its residents a luxury, marina lifestyle – the first of its kind in more than a decade.
Water sports including boating, jet skiing, kayaking,
water skiing, wind surfing and snorkeling
Lushly landscaped, 14-acre lifestyle enclave on
750 linear feet of prime waterfront
Resort-style pool deck with infinity pool, hot tub
and stunning waterfront views
Outdoor gourmet kitchen
Dedicated children’s pool
Children’s outdoor playground
Convenient dog park access at East Greynolds Park
24-hour valet parking
Personal butler service
On-site car wash service and detailing
Tennis club membership
Pet spa services
Activity rooms for children and teens
112-slip private marina for yachts up to 90 feet in length
Full-time dock master
Full service yacht club concierge
Dockside high speed internet and cable TV
Well-equipped sundry store
Picturesque marina promenade
Secure garage parking
24-hour professional security and video surveillance
WiFi throughout all common areas
e-Concierge app for iPad/mobile access to Marina Palm’s
wide array of services and amenities.
Lavish spa with sauna, steam and private treatment rooms
Men’s & women’s locker rooms
State-of-the-art fitness center
Professional grade studio for yoga/pilates
News café with daily newspaper service
Club room with 100”+ television
Billiards table with bar
Executive business lounge with conference room