1000 Museum Condo Owners Get Some Great News

1000 Museum condo buyers have a big reason to smile after hearing some very positive news about the development progress of their ultra-luxurious and imaginative building.  One of the most talked-about new real estate developments in recent history has secured a critical foundation to its development – construction financing. Aguamarine Services Corp out of the British Virgin Islands, has provided a $51 million loan to the Regalia Group, who are the developers of the project. The loan caps out at $160 million and gives the project a tremendous jolt of confidence after months upon months of tense concerns on its overall viability. Investors and brokers within the community have previously been anxious over the developers’ ability to close on the land necessary for the building of the project. However, the purchase of the 36,200 square foot site has taken place recently for $36 million.  A collective sigh of relief can be let loose.

There may have been doubts on the viability of the project, but there has never been any doubt about the sheer beauty and imaginative architecture of the development. It’s easy to see why 1000 Museum condo owners were seduced by the magnificent work of world-class starchitect Zaha Hadid. The brokerage community has universally stated that the building itself can rival any high-end luxury condominium development in the world.  The ultra-modern facade of the tower is quite unique, unlike anything that downtown Miami has ever seen.  It’s no wonder that buyers and brokers alike have been drooling over the new standard that the building may set for new development in Miami, if it could only be built. 

1000 Museum Condo Facts

With only 83 residences located within 62 total stories, the 1000 Museum condo owners will certainly be in exclusive company.  Developer Greg Covin is quite familiar with the area, being the developer of the next door neighboring property – Ten Museum Park.  His developments may share some interesting similarities as well because 10 Museum Park was also an iconic property that utilized imaginative designs to circumvent the stigmatism that the neighborhood would not yet support the high prices points wanted for the condos.  Ten Museum Park ended up doing just fine in terms of sales, and 1000 Museum condo sales have been doing quite well over the course of the last year.  Even amongst the resistance that some buyers feel in paying double the prices of their neighboring luxury condo developments.

Bright Future

Overall, I believe that 1000 Museum condo owners will be quite happy with their purchases.  Once completed, this building will should be not only a fun place to live, but should hold its value well, even through any future economic turbulence.  Owners here have the staying power to ride through any market corrections due to their deep pockets.  And heck, who doesn’t want to have the ability to hop into their helicopter at the top of their 1000 Museum condo?  The helipad on top of the building is a very cool perk that could ultimately be the sizzle that draws in the coolest of the jet setting crowds into the building.

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