Ross’s Comments – What you Need to Know about Met 1
Met 1 was completed following the condo crash in early 2008, which forced the developer to rent out the majority of the units, and then they recommenced sales to the public in late 2012.
A combination of lower floor 2 story loft units and tower units, Met 1 offers some dynamic water views from the higher floors in the tower.
Met 3 residences and Met Square retail projects are now under construction, and with the addition of a mega Whole Foods Supermarket, shops and even a major movie theater, the immediate area is becoming more attractive in terms of both lifestyle and investment.
The most interesting views are from the corner loft units 12, 14, 16 and 18, and on higher floors from tower units 6, 8, 10 and 12.
The resort deck is situated high up on the 13th level is a large space and pool area, however, it receives only a few hours of direct sunlight in this position.
BUILDING QUALITY
MANAGEMENT
LOCATION
RENT FRIENDLY
ACCESSIBILITY
FINANCING
DESIGN & EFFICIENCY
AMENITIES
WALKABILITY
PET FRIENDLY
PARKING
SECURITY
RECENT PRICE/SQ FT $438
RECENT PRICE/M² $4,715 SEE PRICE HISTORY
MAINTENANCE COST/SQ FT $0.75 – $0.99
2 BEDROOM PRICE RANGE (2014-2015) $540,000 – $610,000
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UNIT SIZES 540 – 2,402 sq. ft (50 – 223 m²)
UNIT TYPES 1 ,2 and 3 bedrooms
# OF UNITS 450
# OF FLOORS 40
# OF PARKING LEVELS 13
ARCHITECT Nichols, Brosch, Sandoval & Associates
DEVELOPER MDM Development Group
PET POLICY 2 pets per unit each not more than 50 lbs, other restrictions apply.
24-Hour Concierge, Valet and Security
Fully-equipped business center with meeting/conference room
Great room/events center with bar and catering kitchen prep area
Nationally recognized restaurant on first level
Private storage areas
Private residents’ lounge and game room with billiards; bar area with large screen plasma television and card room
Large, attractively landscaped recreational deck with temperature-controlled pool and whirlpool
Poolside chaise lounge and towel service
State-of-the-art health and fitness center with a children’s play area
Men’s and women’s locker rooms, sauna and showers
DOWNTOWN MIAMI
After more than a decade of unprecedented public and private investment, downtown Miami has clearly turned a corner from what was once a strictly nine-to-five district into a 24/7 livable city. Since 2002, real estate projects with a value of close to $18 billion have been developed in downtown Miami, creating a strong base of commercial and residential development and serving as a magnet for new businesses and residents.
Downtown Miami is an urban residential neighborhood, and the central business district of the city of Miami and Miami-Dade County. Downtown is the historic, cultural, financial, and commercial center of South Florida, tracing its history back to the 19th century. With recent mass construction of high-rise residential buildings, several hotels and office towers, downtown continues to experience significant growth, with new shops, bars, parks, and restaurants opening up, attracting many new residents. According to the Miami Downtown Development Authority, Downtown Miami’s population has doubled over the past ten years and now has over 74,000 residents with a median household income of $70,800.
Downtown Miami is also the home of the vibrant Adrienne Arsht Center for the Performing Arts, American Airlines Arena, Perez Art Museum Miami, and Frost Museum of Science. The Perez Art Museum Miami is the new anchor of the 29-acre Museum Park overlooking Biscayne Bay and includes public gardens and sculpture installations. This vital downtown park is central to efforts to strengthen greater Miami’s momentum as an emerging global capital. A vibrant mix of green space and cultural offerings, in addition to the landmark new art facilities the park will also be the future home of the Frost Museum of Science.
In addition to the development and growth of the area in general, a massive $1.5 billion mixed use development dubbed “a city within a city”, the Miami World Center, is about to break ground. The mixed use development will consist of a massive 1 million SF shopping mall, 1,800-room Marriott Marquis Hotel, a 600,000 SF convention center, and three high rise towers with over 1,200 residential units.
