Scaffolding has collapsed at Echo Brickell, killing 1 and injuring 5. According to the Miami Herald, "One of the three scaffolding platforms on the North side of the buildings plummeted to the ground Wednesday evening, showering bystanders in debris and crushing one car. The two other platforms were dragged down three stories and hung haphazardly onto the building’s face until a crane lowered them to safety hours later." The man who died passed away from a "cardiac incident" stated by Miami Fire Rescue Deputy Chief Joseph Zahralban and The Miami Herald. A woman inside of a car was hospitalized after being hit by falling debris. Roads were reopen Thursday morning. Property Markets Group said that formwork had fallen from the top of the construction site onto Brickell Avenue and that they were working with the general contractor John Moriarty & Associates of Florida as well as city officials including the fire department and police to investigate what had happened. The project will be shut down pending the investigation. While this accident is quite tragic and will cause delays on the delivery of the Echo Brickell project as well as potential legal implications due to the casualties, the project should still ultimately be a great addition to the Brickell skyline.
BrickellHouse and Boomerang Systems Remain Locked in Legal Battle As Rental Prices Remain Stable
Rental prices have remained relatively stable in BrickellHouse despite a legal battle between the developer and parking garage operater. Boomerang Systems and Newgard Development Group's Harvey Hernandez, the developer of BrickellHouse remain locked in a lawsuit after a bankruptcy judge cut Boomerang System's operating contract with BrickellHouse. Boomerang Systems was to operate an automated, robotic, "hassle-free" parking system but residents were met with delays waiting for their cars, some of which reached over an hour during peak times.
BrickellHouse is a 46-story luxury condo building at 1300 Brickell Bay Drive. The building was designed by Sieger Suarez as the architect and Yabu Pushelberg for interior design. Amenities include a private owner's lounge, screening room, rooftop resort deck with 50-foot lap pool and poolside cabanas, fitness center and spa as well as 24-hour staff. It features 374 units that start around $400 SF, fairly consistent with pre-construction pricing and range from $239K to $7.5 million. Units range from studio to 3 bedroom with larger penthouse units. Rental prices have held steady around $3 SF and 75 units have been rented this year. Despite this residents have continuously complained about the parking issues which have been a drag on the building's reputation. Mixed with a buyer's market investors may find some deals from owners who don't want to deal with the current legal issues.




SLS Brickell Hotel to Open October 3
SLS Brickell is coming! Related Group and SBE have set an opening date of October 3rd for the hotel as we edge closer to seeing the completion of this most recent development cycle. SLS Brickell is a 124-room hotel with pricing starting at $249 per night and can reach over $1,950 for the 1,756 SF, 2 bedroom Louie Suite. The 52-story building was designed by Arquitectonica and also features 450 residential condo units. It also features an LED façade by lighting artist Ana Isabel Martinez, artwork throughout the property by Fernando Botero and Matias Duville, and a colorful, iconic exterior art mural. SLS Brickell includes José Andrés' Bazaar Mar, his new seafood restaurant concept, as well as Michael Schwartz's Fi’lia, Italian concept. José Andrés will also be head of all food and beverage operations throughout the property including the pool bar, mezzanine and in-room dining. Related Group began planning the project in 2012 and broke ground in early 2014.






Swire Properties Announces Brickell City Centre a Success to Shareholders.
Swire Properties announced to shareholders in August that Brickell City Centre was a success. The development is yet to be complete yet has sold 349 out of the 390 condo units at Reach and 174 of 390 condo units at Rise, the projects two residential high-rises. They also just received their Temporary Certificate of Occupancy (TCO) for their Rise condo tower, allowing buyers to start closing on their units. This marks the end of the residential and hotel parts, as well as the Three Brickell City Centre office building part of the project completed, and just the shopping mall and second office tower are still under construction. The Shops at Brickell City Centre, the retail mall, is scheduled to open in November and they recently released a list of stores with luxury names including Saks Fifth Avenue, Audemars Piguet, Richard Mille, Bally, Agent Provocateur and many more. 75% of the office space is under-contract to lease. WeWork signed a deal for close to 50% of the total office space last week. As Miami continues to evolve, commercial rates continue to rise. The residential rental rates remain to be seen. Swire properties is committed to completing two more phases of the project over the next 8 years.
WeWork to Lease 65,000 SF of Office Space at Two Brickell City Centre
WeWork has announced that they will lease 65,000 SF of office space in Brickell City Centre. The lease could account to close to half of Swire Properties' 132,280 SF of the space at Two Brickell City Centre going to the highly-valued and controversial Coworking/ Shared Work Space pioneer, according to The Real Deal. Asking rents were around $53 SF. In 2015 WeWork opened an original Miami location on Lincoln Road then opened a second space with 850 desks on Lenox Ave. in Miami Beach. WeWork is currently valued around $16 billion and was founded in 2010 by Adam Neumann and Miguel McKelvey. Sources via TheRealDeal.





Closings begin at Bond at Brickell
Closings have begun in Bond at Brickell, the most recent building to receive its TCO and begin Closings. Developed by the Rilea Group, Bond is a luxury residential tower in #Brickell with 328 units raging from 1-3 bedrooms. Units feature floor-to-ceiling glass with layouts fitted with custom kitchens and interior design by Loguer. The concept was designed by Nichols Brosch Wurst Wolfe & Associate to offer British elegance and modern amenities. The full-service building includes a pool area with lush landscaping and a waterfall and multiple pools, outdoor lounge and fire-pit, Parlaiment Lounge, business center and health club. The location provides easy access to Mary Brickell Village and the new Brickell City Centre.
Trey Songz Purchases Unit in Brickell Heights
The Related Group announced by Instagram that singer Trey Songz had purchased a unit in their almost completed Brickell Heights building in Brickell. The 2 tower, 690-unit, mixed use project is slated for complete in early 2017. It will feature an Equinox Gym, SoulCycle and Peet's Coffee. The announcement featured Fortune International Realty's Adriana Brito, and the firm handled sales and marketing for the building.










SLS Lux Hotel & Residences
Yet another development is cruising through construction and reaching for the skies in Brickell. SLS LUX Hotel & Residences is just steps away from the exciting new Brickell City Centre and Mary Brickell Village Shopping Center. SLS LUX will be a five-star experience with world-class amenities and personalized VIP service. The project is being developed in collaboration by SBE and The Related Group along with the Allen Morris Company.
SLS LUX will be a 58-story tower designed by Arquitectonica with a unique LED façade by lighting artist Ana Isabel Martinez. It will feature 450 residences and 85 luxury suites designed by Yabu Pushelberg complete with world-class art. At the top will sit 14 penthouse units with panoramic views of Biscayne Bay. SLS LUX has private residential elevators, tennis courts, gym, wine cellar, cigar room and a sky lounge rooftop pool. The lobby will feature museum-quality contemporary art by artists Fernando Botero, Matias Duville and Fabian Burgos. will also house a Brickell Katsuya and SBar. SLS LUX will also come with "On Demand" private limousine service to a private beach club. SLS LUX is scheduled to open in 2017. Check out our Instagram for an exclusive video from the top!







Brickell City Centre Update: Almost All Units Closed at Reach
Brickell City Centre continues to move closer to final completion. After receiving its TCO in April, Reach, the first residential tower delivered by Brickell City Centre, has now closed on 311 of 390 total units. Of thes, 89 are back on the MLS available for rent and 30 are listed for sale. Investors had planned to rent 2 bedroom units for $4,500 and 1 bedroom units for $3,500, but 15 actual signed and leased units are closer to the $2,700 range for 1 bedrooms and $3,500 for 2 bedrooms. While there is still to be a flood of units to hit the market as SLS Brickell, SLS Lux, Brickell City Centre Rise, etc. hit the market, pricing and demand is still factoring in the construction and fact that Brickell City Centre's retail and entertainment portion of the development will not be open until at least November. East, one of the hotel towers of Brickell City Centre, opened earlier this Summer and closings should start soon at Rise.





Tenant Update: Brickell City Centre
The 500,000 square-foot shopping center, anchored by Saks Fifth Avenue and Cinemax, is set to open in November. Co-developers Whitman Family Development and Simon Property Group recently announced new additions to its diverse roster: Armani Collezioni, Intermix, Audemars Piguet, Diptyque, Pandora, Stuart Weitzman, Italia Independent, and the largest Apple store in Florida. The mall will bring a mix of luxury and accessible brands to an under-served market, while creating hundreds of local jobs.
City Center will appeal to foodies as well: an Italian food hall the likes of which has yet to open in Florida - until now - will be debuted, along with a variety of familiar and new eateries like Dr. Smood, Luke’s Lobster, Haagen Dazs, Pasion del Cielo, and Pubbelly Sushi.
The mall will be conveniently accessible by a Metromover stop and will have an underground garage to accommodate the influx of traffic.