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Melo Group Launches Bay House Luxury Condominium in Miami's Edgewater East Neighborhood
Bay House marks Melo Group’s tenth residential development in the burgeoning Edgewater East neighborhood; 164-unit luxury tower overlooking Biscayne Bay is scheduled to break ground in the fall of 2013 and deliver late 2014.
Melo Group’s newest development will offer residents expansive views of Biscayne Bay, luxury amenities, and a central location in the City’s thriving Edgewater East neighborhood. Bay House is comprised of 164 luxury residences – only 5 units per floor – all featuring private or semi-private elevators, premium appliances and finishes, and expansive balconies. Construction of the 38-story tower will begin this fall and be completed in late 2014. The building’s unit mix includes two- and three-bedroom condos priced from the $490’s to more than $1 million, with an average price of $380 per square foot. Floor plans range in size from 1,601 square feet to about 3,100 square feet. Pre-construction sales are now underway.
Bay House is located in Miami’s Edgewater East neighborhood, which stretches along Biscayne Bay east of Biscayne Boulevard between 17th and 37th streets, just north of the Central Business District and directly west of Miami Beach. The fast-growing residential and commercial district offers direct access to Miami’s major arts and entertainment venues, public transit connections, and Miami International Airport. The adjacent Midtown, Wynwood and Design District neighborhoods are among the City’s top destinations for shopping, dining and culture.
“Look at a map of the development activity now underway in Miami, and Edgewater East is at the center of the action,” said Melo Group principal Martin Melo. “Bay House will be the address of choice for residents seeking the conveniences that come with living in a pedestrian-friendly urban neighborhood along with sweeping water views and top-tier, luxury amenities.”
Melo Group has been a driving force behind the growth of Edgewater East since 2003, with Bay House marking the firm’s tenth residential tower in the neighborhood. As a vertically-integrated development company that designs, engineers, constructs and manages its properties in-house, Melo Group is able to deliver new projects to market in an efficient and timely manner. All told, the firm has delivered more than 1,700 residential units in Miami and more than 5,000 units throughout the Americas since its 1948 founding in Argentina.
While many Miami developers suspended projects during the recession, Melo Group continued to build. Construction of Edgewater East’s 23 Biscayne Bay began in July 2011 and the 96-unit building was completed and sold-out in less than ten months, marking the first Miami condominium tower to be built and fully sold in Miami during the recession. 23 Biscayne Bay attracted a largely foreign clientele that purchased units with at least 50 percent cash down payments. Other Melo Group developments in the Edgewater East neighborhood include 1800 Biscayne Plaza, 22 Biscayne Bay, 25 Biscayne Park, and Skyview.
The launch of Bay House coincides with Miami’s emergence as a top residential market for buyers hailing from across the US, Latin America, Europe and Asia. Miami’s accelerating sales activity is being fueled by a surge of demand for urban, multifamily living. In the City’s urban core alone, more than 97% of the 23,000 condos built during the last real estate cycle are now occupied, according to the Miami Downtown Development Authority. Diminishing supply, rising home values, and a gradually improving economy are ushering in the next cycle of development.
Leading the sales and marketing efforts for Bay House is Cervera Real Estate, Miami’s preeminent residential brokerage firm.
“Beyond its superb Edgewater East location, magnificent bay views, and high-quality design features, Bay House benefits from the expertise of one of Miami’s strongest developers in Melo Group,” said Cervera Real Estate Managing Partner Alicia Cervera Lamadrid. “The Firm’s track record of successful residential development in Miami and throughout the Americas carries invaluable weight with buyers from the US and abroad looking to establish a primary or secondary home in South Florida while market fundamentals remain favorable.”
Residences will feature private balconies with panoramic views, Italian-style cabinetry in all bathrooms and kitchens, stone countertops, and floor-to-ceiling impact resistant windows and sliding glass doors. Building amenities include a sky pool deck overlooking Biscayne Bay; a fully-equipped, state-of-the-
Venture beyond the building and the Edgewater East neighborhood is at the center of numerous recreational and lifestyle destinations, including The Shops at Midtown, the Wynwood Arts District, Margaret Pace Park, the Adrienne Arsht Center for the Performing Arts, and Miami Science Museum and Miami Art Museum in the City’s new Museum Park complex. It is also minutes away from the luxury shops of the Design District which include Hermés, Louis Vuitton, Cartier, and Christian Louboutin, among others.
For more information about Bay House and pre-construction sales opportunities, please contact Cervera Real Estate at (305) 374-3434 or visit www.bayhousemiami.com.