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Real Estate

SLS Brickell: Concerts, restaurants and entertainment

SLS Hotel and Residences Building

SLS Brickell - Building

SLS Hotel and residences – Brickell

Neighborhood: Miami Real Estate
Developer: The Related Group
Architect: Architectonica
52 stories building
Location: 1300 S Miami Ave (next to Infinity Brickell)

SLS Brickell: New venue, concerts, restaurants and entertainment

SLS Hotel will open in a very unique project in the heart of Brickell, specifically on the site of the former Infinity II.

SLS Hotel Brickell, or called SLS Hotel and residences or just SLS Brickell. Related Group brings another first class building to Brickell. Designed by Architectonica, SLS will follow the success of Millicento, Icon Bay and My Brickell.

SLS Hotel Brickell will shape a whole new level of entertainment and dining experience in Brickell. Featuring the following restaurants; Katsuya by Philippe Starck, Bazaar by Jose Andres, and a new restaurant by Michael Schwartz of Michael Genuine.

SLS Brickell will consist of 10 stories of Hotel with interiors by Philippe Starck, SLS Brickell will be very luxurious, offering an amazing array of services.

“The project will be located at 1300 South Miami Avenue in Brickell. It will have retail at the ground level featuring 3 on-site restaurants. The hotel component of the building will begin at the lobby level and go up to the 9th floor, where there will be an elevated 200 ft long pool, spa deck, and amenities such as the HYDE Bar and Lounge and CIEL Spa. The residential units will start from the 10th and up. There will be 11 units per floor. This is not a condo-hotel.

Residents will be able to enjoy many of the Hotel’s services. Rooftop pool for Resident’s use only. Business center. 8000 sqft Ballroom. Private Spa, State of the Art Fitness Center, Screening room. One assigned parking space per unit.” says Christian Tupper, Related Group.

If you know SLS Hotel, you know the level of sophistication and exclusive services they offer.

SLS Brickell – The Amenities

3 great Restaurants:

Residents will enjoy the hotel services and amenities, which include among others, on the 8th floor:

  • 200+ Ft Resort Pool
  • Hyde Lounge and Garden Club
  • State of the Art Gym
  • Screening Room
  • Ciel Private Spa
  • Recreational Room

Other amenities will include:
3000 Sq.Ft. Business center with private meeting rooms
8000 Sq.Ft. Ballroom for private evetns

Residents will also have exclusive use of:
Roof Top Pool with Sky Club on the 52nd floor

SLS Brickell – Location

1300 S Miami Avenue, Miami FL

[bingMap location=”1300 S Miami Ave, FL” maptype=”RoadWithLabels” width=”600″ zoom=”15″ description=”SLS Brickell”]
SLS Brickell site plan
SLS Brickell site plan 2

SLS Brickell – Penthouse

SLS Hotel and Residences Penthouse level

Residences from approximately 700 sqft to 1500 sqft. with extended balconies.

  • 11 units per floor
  • 1 Bedrooms , 1 Bedrooms + den from about 700 Sq.Ft.
  • 2 bedrooms, 2 Bedrooms + den from about 956 Sq.Ft.
  • 3 Bedrooms from 1500 Sq.Ft.

Now taking reservations:

To ensure the best pricing, reservations will be accepted at the following price ranges.
$30,000 – 1 bedroom
$40,000 – 2 bedroom
$50,000 – 3 bedrooms / PH

SLS Brickell – Price ranges

Price ranges

Units in the low floors will start approximately in the lows $400 p/Sq Ft and higher floors around $500/Sq Ft

NOW TAKING RESERVATIONS

SLS Hotel and residences – Deposit structure:

10% with Reservation (April)
10% at Contract (Approx. July)
10% at Groundbreaking (Approx. November)
10% at 25th floor (9 months after groundbreaking-Approx. August 2014)
10% at Top off (Approx June 2015)
50% at closing (mid 2016)

SLS Brickell – Photo Gallery

SLS Hotel and Residences Building 1

SLS Hotel and Residences Building 2

SLS Hotel and Residences Building

SLS Hotel and Residences building 3

SLS Hotel and Residences building 4

SLS Hotel and Residences Valet

SLS Hotel and Residences entrance

SLS Hotel and Residences reception

SLS Hotel and Residences retail

SLS Hotel and Residences Katsuya

SLS Hotel and Residences Marathon pool

SLS Hotel and Residences pool deck 2

SLS Hotel and Residences pool deck

SLS Hotel and Residences Sky Pool 2

SLS Hotel and Residences Sky Pool

SLS Hotel and Residences Sky Pool view

SLS Hotel and residences balcony view

SLS Hotel and Residences living

SLS Hotel and residences – The Views

SLS Brickell South View

SLS Brickell East view

SLS Brickell North view

This project has not officially released, information within is inaccurate and subject to change without notice.

 

Contact us now for more information!

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Oral representations cannot be relied upon as correctly stating the representations of the developer. for correct representations, reference should be made to the purchase agreement and the documents required by section 718.503, Florida statutes, to be furnished by a developer to a purchaser or lessee. Not an offering where prohibiting by state law. Prices subject to change without notice. Photography and artwork in this website is for informational purposes and might be stock photography used to depict the lifestyle to be achieved rather than any that may exist. We are pledged to the letter and spirit of us policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin.

Categories
Economy Personal Finance Real Estate

To Rent vs Buy a Home? The Argument for Buying!

To Rent vs Buy a Home? Since the financial & housing markets crashed back in 2007/08 interest rates have never been so low! House prices have also fallen and those who are able to get a mortgage are wondering if they should make the leap and buy their first home.

In a previous article I discussed the pro’s of renting, now it’s time to point out the pro’s of buying!

Dead Money

Mortgages are a huge commitment! Due to the cost of moving, you’re pretty much saying that you love a town and property so much that you’re willing to live there for at least the next 5 years! For anyone who’s ever had a 5 year loan, you’ll know that’s a substantial period of time. One of the benefits that comes from committing to a mortgage though, is that it’s also an investment.

If you rent a property you may spend years paying rent to a landlord and you will never see any of that money ever again. This is what many people refer to as dead money! You’re basically paying for someone else’s investment! If you do make the commitment to buy, you will be paying into your own asset. You will not only see some of your money again at some point in the future, but if you view it as a long term investment it will likely grow substantially over a long term period.

Security

When you rent a property you are at your landlords mercy. I’m sure many of you who read this article have felt the fear, or even felt the effects of having to move because your landlord has decided to sell your home! You might have already developed emotional attachments to a home, your children may be in a local school or you might not want to uproot. If you rent, unless you have a long term contract you have no choice.

With a mortgage you have a certain amount of security. As long as you keep up with your mortgage payments and other bills you will never have to move if you don’t want to. This kind of security can give real peace of mind. Your memories are secure, your kids wont have to travel for miles to get to their school, you can be truly secure in your surroundings.

Home ownership also provides security when you enter old age. We all love to think we will be forever young! There will come a time though when you’re no longer able to work, meaning you’re no longer earning a wage. As long as you pay your mortgage off, home ownership gives you the security of knowing that when you reach this age you won’t have to worry about where you’re going to live, your home will be yours! It could also give you a nest egg if your pensions or other investments don’t perform as you’d hoped. The option may exist to downsize and have a cash lump sum to live off.

The benefit system is currently set up to provide financial relief for older people if they can’t afford to rent their own home. With the current state of government finances it would be wise not to bank on this being the case in future!

Adding value

Most of us view our home as an extension of our personality, we want to add our tastes and improve it. Sometimes the improvements that we make can add value. If you make these improvements to a rented property your landlord will reap the financial rewards, not you! This might stop or make you hesitant to make your home truly your own, somewhere you can present your personality to the world for all to see.

Something To Pass On

We all want to do our best to ensure our children’s financial future. In making the decision to buy a home you’re investing in your children’s financial future. Providing this inheritance may in future give your children the opportunity to buy their own home or live mortgage free in yours.

Taking out a mortgage may be a huge commitment, one which I would encourage you not to take lightly! It does however give a certain security now and for the future that renting never could.

Source article and pictures: http://moneybulldog.co.uk/
To Rent vs Buy a Home? The Argument for Buying!

Categories
Economy Entrepreuneurship Markets

The Ten Commandments of Business Golf

GolfSeveral years ago, I happened to pair up with someone I hadn’t previously met at the Santa Fe Country Club, where I usually play. After a few holes, we discovered common professional interests: He was about to buy a local magazine and—after editing a travel magazine for several years—I was looking for a new opportunity. We had a lively discussion, with both of us thinking: ‘Mmm, kismet?’ Then a curious thing happened. He preferred to drive his cart at top speed between shots and holes, whereas I liked to walk the course and take my time lining up each shot. At the end of 18, we exchanged numbers, but we both knew we’d never collaborate.

Why? Because the way we played golf spoke volumes about the way we approached our professions.

This weekend, golf is once again on our minds as the Master’s—perhaps the premiere golf tournament in the country—enters its second round of play. The other day, in an interview with a national newspaper, 2011 US Open champ Rory McIllroy was briefly embarrassed when his phone rang, an awkward moment on a course where handheld devices are strictly forbidden. However, it’s a good reminder, for all of us weekend duffers who are taking our clubs out of the closet for the first time this year, how important etiquette and good manners are to the game.

It may be a canard that more deals are struck on the golf course than in any other venue. But if you want to be a walking cliché, I humbly offer a few pieces of advice.

1. Take Lessons

Face it: You stink. Luckily, it’s not necessarily a life sentence. Living in the Rockies, where golf is a seasonal pursuit, I need all the help I can get when the snow melts. Starting the season by hitting two thousand balls on the range will not improve a flawed swing. So take a couple of lessons, but avoid the Pro who gives you 87 things to remember on your backswing. Don’t combine golf and business until you’re playing competently. Otherwise, your clients will rightly assume you’re an idiot.

2. Follow the Rules

A couple of years ago, I read about pro golfer Camilio Villegas being accessed a penalty for removing some debris from around his ball before taking his shot. He seemed genuinely surprised at having broken the rules. What’s shocking is that he didn’t know the rules. You don’t have to be the rule-book Nazi in your foursome, but take some time to read it before the season starts. You’ll be amazed at what you’ve forgotten—or never knew.

3. Observe Dress Codes

One of the best things about business golf is getting invited to play at a client’s or colleague’s club for the first time. Don’t show up in cargo shorts and your vintage Beck tee shirt. Call ahead to the pro shop and ask about the dress code. Dustin Johnson or Bubba Watson are good golf fashion icons: conservative but with a little individual flair. Forget the lime green or cranberry red ensembles. It works for Rickie Fowler. It doesn’t work for you.

4. Play Fair

Golf is self-policing. There are no refs, umpires, or line judges. Just you and your conscience. If your client sees you kicking your ball out of the rough for a better lie, do you think he’ll consider you a go-getter who doesn’t let anything stand in his way—or a lying, self-deceiving sleaze? Mmm. I was playing with a retired chief operating officer a few years ago and I remember him saying, ‘It’s too bad the ethics of golf don’t apply to business.’ That’s just the kind of guy who is perplexed by the public’s attitude toward Wall Street.

5. Observe the Etiquette of the Game

Golf etiquette requires a couple of volumes to detail, from determining driving order to conceding a putt. It boils down to erring on the side of good manners. You don’t throw your briefcase across the boardroom when a deal goes sour (if you still have a briefcase, troglodyte), so throwing your clubs and cursing when you overshoot the green is going to tell your business golf partner that you’re a bad-tempered, tantrum-throwing moron—just the kind of business connection to avoid. Accept failures with grace and victories with humility.

6. Don’t Bet on It

My father imparted two pearls of wisdom when he introduced me to the game. First, never play against anyone, just yourself. Second, if you get frustrated, just enjoy the view. Tournaments are one thing, but putting too competitive an edge on a business golf game can get ugly. You really want to have to watch someone you’re hoping to do business with resentfully write out a check to you in the clubhouse? Conversely, are you willing to trash all sense of honor by five-putting the last hole so your client can walk away $105 richer? If your answers are yes, I suggest you take up trout fishing with dynamite.

7. Don’t Drink and Drive, Let Alone Putt

Until the final putt on the 18th, don’t even think about a cold one. My regular foursome includes a communications executive, an electrical contractor, and a chef. We don’t talk business; we talk smack. So a couple of tall boys in the cart is appropriate. But when you’re doing business on the course, the last thing you want is for things to get sloppy. The clubhouse after play is the appropriate venue—and if you’ve done your prep correctly for the last 18 holes, it’s the right place to close the deal.

8. Know When to Talk Business

One of the oldest maxims of the game is to never talk business the first time you play with a new colleague or client. Pushing your business agenda when you’re supposed to be enjoying leisure time is unseemly. When business does enter into things, observe these four nevers: First, never discuss business before the third hole; second, never after the 15th; third, never when someone is preparing to shoot; and fourth, never on the green. Personally, I like to walk a course—not just for the exercise, but for the stroll between shots that actually gives you and your partner time for a leisurely chat.

9. Play Charitable Tournaments

Yes, local tournaments for charity are possibly the best venue for networking ever devised. If run well, they’re also usually a hell of a lot of fun. Also, at the end of the weekend, you’ve helped raise money to help someone’s life other than your own.

10. Take Advantage of Reciprocals

No doubt you’ve gone to your club’s general manager or pro and asked for help with a reciprocal—the gentlemen’s agreement by which you’re allowed to play as a guest at another club. The problem with this is that if your club pro is not well respected—or your club is not at a certain tier—your request to play at Pine Valley, N.J., will probably be turned down. About eight years ago, a number of online ‘reciprocal clubs’ sprang up that offered a matchmaking service for private club members. You still might get turned down because your own club isn’t up to snuff, but the advantage is they come up with lots of clubs you’d never think of playing and they can reach out internationally to clubs at which your own would never have connections. If you travel abroad frequently, membership is a bargain, but they’d still never let you into Pine Valley.

The Ten Commandments of Business Golf
By Kent Black
Businessweek.com

Categories
Economy Entrepreuneurship Personal Finance

Don’t take business advice from nice people

Nice people

How to keep quiet politeness from killing your sales, marketing and probably your business.

I’ll admit it. I’m not a particularly nice person. In fact some consider me brutal with my honesty. (Some just call me a New Yorker.) Either way they’re right. I don’t coddle. I don’t insult, but I call it like I see it and often I offend. I don’t do it to be mean. I do it out of integrity. I believe (often foolishly) that when people engage me in conversation that they are truly interested in my opinions and experiences. So I share, willingly.

A colleague of mine claims one can offer blatant truth, and still be nice. She says: “It’s not what you say, but how you say it.” I don’t buy it. I have often witnessed, when someone has invested their heart, soul and ego into a project, and you tell them has invested their heart, soul and ego into a project, and you tell them truthfully and nicely why it will never work, they still think you are cruel and non-supportive. Don’t take my word for it. Just watch Shark Tank, or American Idol. Except maybe Kevin O’Leary, most of the investors or judges aren’t actually rude or impolite. (Not since Simon left anyway.) They simply point out the errors in the unfounded beliefs of the contestants…dashing their dreams and crushing their spirits…thereby appearing to be cruel and non-supportive.

The alternative to us truth-sayers is people with discretion. They grew up under the rule: If you can’t say something nice, don’t say it at all.” They either lie and say something “supportive” when you bring them your hideous, doomed-to-fail idea, or worse they exhibit what I call Quiet-Politeness and simply say nothing. Most likely they’re not vested enough in your success to engage in conflict with you over your passion.

These nice people are not doing you any favors. In fact they are sabotaging you in three ways.

1. Nice People Waste Your Time.

This happens in sales all the time. You meet people at networking events. They’re polite. They never actually tell you they won’t do business with your company. So you optimistically think they’re worth keeping in your tickler file. You follow up every couple of months. You email them a birthday card. You tell yourself that someday they will come around. They won’t. They politely return your email or take your call, again omitting the fact that they’ll never buy and are generally annoyed with your persistence. In fact they would better serve you both, by stating that they already buy from their brother-in-law or that they hate your CEO, and just cut you loose. In sales, nice people suck up the majority of your time and resources. Just look at your conversion numbers.

2. Nice People Encourage Low Standards.

Most people ask for opinions in hopes they are on the right path with a project. A marketer who has passionately invested months in a new campaign runs it by a nice colleague for her feedback. The nice colleague thinks it’s a six on a scale of 10. The nice colleague supportively says: “ Looks good. Keep it up.” Why create unnecessary conflict in the cubicle next door? She thinks. The marketer feeling reassured, continues on his path of mediocrity. The campaign has lackluster results.

3. Nice People Enable Failure.

When an achiever is passionately driving down a fatal path, nice people tend to clear out of the way. Some are simply avoiding conflict. Others don’t want to appear non-supportive as the achiever reaches the point of no return. The nice people demonstrate their own brand of silent cruelty by not sharing their knowledge that can avert the disaster.

I’m not suggesting we round up all the nice people and ship them to parts unknown. Neither should we abandon all rules of polite society. But if you are an achiever in the business world, nice people will create unnecessary obstacles without some precautionary steps.

1. Defend against the “Golden Rule

State clearly you do not want to be treated by nice people the way they want to be treated. Tell them instead to openly share their honest opinions and experiences or don’t engage. Tell them you intend to do the same.

2. Reward Bluntness

It doesn’t matter if you are an entrepreneur, manager or employee. When you seek feedback, show that you appreciate truth and constructive criticism no matter how harsh and painful. Show you can apply input so people are encouraged to provide more of it.

3. Give Nice People a Safe Path to Disengage

Most nice people can’t help themselves. Help them form nice people cliques and let them sabotage each other en masse. Perhaps you can identify them with an embroidered N on their lapels so they can find each other easily. This way you can avoid them and come hang out with those of us who will be brutally honest and give you the necessary feedback for success and achievement. We’ll be supportive by helping you overcome your real obstacles and we’ll encourage you to do the same for us. Come on over anytime. (You can find many of us at the Bull and Bear.)

It may not be a nice time, but it will certainly be refreshing.

I look forward to reading all your comments both good and bad. Of course I don’t expect the nice people will say anything.

By Kevin Daum
Inc.com

Categories
Economy Real Estate

House Prices: Window of Opportunity Beginning to Close

WindowsThere have been conflicting opinions as to where housing prices are headed. We want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in most parts of the country in which to sell their homes for maximum price. We believe there will be increased downward pressure on home prices throughout the rest of the year.

Why renewed downward pressure?

Any item’s price is determined by ‘supply and demand’. In many parts of the country, existing housing inventory has dropped to historic norms in the last few months. However, an inventory of distressed properties (foreclosures and short sales) will be coming to market this year. This inventory has been delayed for over a year as the Federal and state governments crafted an agreement with the five largest banks and mortgage servicers to establish a roadmap for how a foreclosure must be properly completed. That agreement, the National Mortgage Settlement, was reached two weeks ago.

What Impact Will the Agreement Have on Foreclosures?

Brandon Moore, chief executive of RealtyTrac, explains:

“The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year.”

How Many Foreclosures Could We Be Talking About?

Mark Vitner, a senior economist at Wells Fargo Securities tells us:

“The settlement helps the housing market in the long run because it allows banks to proceed with millions of foreclosures that have been stalled.”

What will this mean to home prices?

As this inventory comes to market, it will impact prices in two ways:

1) It will bring to market discounted competition for buyers
2) It will impact the appraisal values of all homes in the area

Which States Will Be Impacted the Most?

The states that have the largest backlog of properties currently in the foreclosure process will be the states that will see the greatest price depreciation.

Bottom Line

There is a window of opportunity currently which sellers should take advantage of. Waiting until later this year will not guarantee a higher sales price. If anything, in many regions of the country, it probably guarantees the exact opposite.

House Prices: Window of Opportunity Beginning to Close
by THE KCM CREW

Categories
Real Estate

Louis Vuitton moving to the Design District

Louis Vuitton’s plans could play a major role in putting Miami’s Design District on the fashion map and helping raise Aventura Mall’s luxury profile.

Louis Vuitton is ready to redesign South Florida’s luxury retail market.
Executives of the French brand known for its trademark handbags and accessories said this week they will leave the Bal Harbour Shops at the end of June and move to Aventura Mall where they will eventually more than double the size of their store. Also on the agenda: opening a second store in the burgeoning Miami Design District by 2014.
The news is a blow to the dominance of the Bal Harbour Shops, which in 1965 created the concept of luxury retail in South Florida and has consistently ranked as one of the industry’s top performing malls.

Louis Vuitton’s arrival will help Aventura Mall continue to elevate its merchandise mix. For Miami’s Design District this could be the catalyst to turn the area into a fashion destination akin to SoHo or New York City’s Meat Packing District. Expected to follow Louis Vuitton’s lead are at least some—or possibly all—of the other brands owned by parent-company Louis Vuitton Moët Hennessy that currently have stores at Bal Harbour.

The chess moves begin when Louis Vuitton’s lease at the Bal Harbour Shops expires at the end of June. Louis Vuitton then opens a temporary store at Aventura on July 1, with plans to begin construction of a two-story flagship store at Aventura to open in Fall 2012. Plans for the Design District are still being finalized.

Geoffroy Van Raemdonck, president of Louis Vuitton North America, said the brand decided it needed a bigger store in South Florida than Bal Harbour could accommodate and also did not want to be limited to one store in the market. Bal Harbour’s leases prohibit tenants from opening a second store within 20 miles unless Bal Harbour’s owners receive a percentage of the additional store revenue.

“We believe that this market deserves more than one free-standing store,” Van Raemdonck said. “We feel that we are not reaching the customers if we have only one store in the market. We want to give them multiple chances to experience the brand in its full notoriety.”
The move is particularly dramatic because Louis Vuitton was one of Bal Harbour’s oldest and most successful tenants. The brand has been there for about 30 years, when it chose the site for its first U.S. location outside of New York.

Louis Vuitton’s Miami-Dade presence beyond Bal Harbour had been limited to departments within Bloomingdale’s in Aventura and Neiman Marcus at the Village of Merrick Park. By comparison, Palm Beach County has three stores: Worth Avenue, Town Center at Boca Raton and The Gardens Mall in Palm Beach Gardens.

Industry experts view Louis Vuitton’s decision as a sign of things to come with luxury brands under pressure to grow.

“It may not be as sexy today to have Aventura on your bag as it is to have Bal Harbour,” said Arthur Weiner, principal of AWE Talisman, a Coral Gables firm that handles retail leasing and development. “In these days sexy gets put in second place. Sales and profitability get in first place. If Louis Vuitton trades a single-store strategy for a North and South location, there is no doubt that their sales would increase by three or four fold.”

On a temporary basis, the Louis Vuitton store at Aventura will be located in the former Barney’s Co-Op store. The permanent Louis Vuitton store will be more than twice the size of the existing Bal Harbour location, with a grand staircase connecting the two floors.

But even more dramatic will be Louis Vuitton’s move to the Design District, which in recent years has grown its reputation as a destination for dining and upscale home décor. Yet, despite the best efforts of developer Craig Robins, the mix of luxury fashion brands has been limited with the most noteworthy being Christian Louboutin and Marni.

“We believe that the Design District has huge potential,” Van Raemdonck said. “We feel that we can be the first large brand to go in there and we have no doubt that others will follow.”
At least some of those followers are expected to come from among the nearly dozen other LVMH brands that currently have stores at Bal Harbour, a lineup that includes Dior, Marc Jacobs, Fendi, Celine, Emilio Pucci, Thomas Pink and De Beers.

Matthew Whitman Lazenby, one of the owners of Bal Harbour, says his family was told by LVMH executives that the company plans to pull all brands out of the shops as their leases expire. But Lazenby also said they have been told by individual brands that is not the case.

The only other LVMH brand with a lease expiring this year is Dior, whose lease expires at the end of May. Dior has not renewed its lease with Bal Harbour, and the mall is taking steps to find another tenant for the space, Lazenby said.
“We don’t really know what will happen until it happens,” Lazenby said. “We’re making provisions for both sets of circumstances. There has always been a long waiting list of tenants to get into Bal Harbour. The more LVMH brands that depart, the more opportunities we create.”

LVMH executives declined requests to talk about future plans for any of its other brands in South Florida.
Bal Harbour’s owners used news of Louis Vuitton’s imminent departure earlier this month when it presented plans for expansion to the Village Council. Bal Harbour claims it had no space for Louis Vuitton to expand. Stanley Whitman, who built the 46-year-old project, told the council that if he could not expand he ran the risk of losing tenants to Aventura Mall, South Beach and other locations around South Florida.

Preliminary plans call for adding another department store to the Bal Harbour Shops, as well as 50 luxury fashion retailers, an upscale movie theater and an event space by party impresario Barton G. The plans have not been officially submitted to the Village Council for review.

The last time Miami’s luxury retail market faced a potential shakeup along this order came with the construction of the Village of Merrick Park in Coral Gables. Merrick Park’s developers sued the Bal Harbour Shops’ owners over the radius restriction clause. The case settled, and Bal Harbour Shops agreed to waive the radius restriction with respect to Merrick Park. But for retailers like Gucci and Tiffany that opened second stores in Merrick Park, the owners of Bal Harbour Shops relocated them to the mall’s second, less desirable floor when their existing leases expired.

Industry experts say that just like with Merrick Park’s opening, Bal Harbour Shops will adjust even if it means its sales numbers come down from the stratosphere. The shopping mall’s sales in 2010 were $2,013 per square foot; that’s more than five times the national average and believed to be the highest at any mall in the country.
“Bal Harbour is not going anywhere,” Weiner said. “It’s a sparkling jewel. There will be brands that come and go. The difference is that those brands will now have choices.”

But the winners in all of this are Miami-Dade’s latest real estate power couple: Dacra’s Robins and Turnberry Associates’ Jackie Soffer.

“Having Louis Vuitton validate the Design District is a great step forward for the neighborhood,” Robins said. “I’m hoping it’s the beginning of several major international fashion brands committing to join the great businesses that are already in the neighborhood.”

For Soffer it’s the next step in the evolution of Aventura Mall, which has been gradually becoming more upscale over recent years. The mall’s most recent luxury addition is Burberry, which joined a mix that includes other newer stores like Lacoste, Michael Kors, M Missoni and Facconable. But additional proof of the market demand has also come from the success that Bloomingdale’s and Nordstrom have had with luxury brands.

“There’s a pent-up demand that we know exists,” Soffer said. “We’ve proven that when we put in these better brands they are producing the sales. Our customers like brand names. That’s what sells.”

By Elaine Walker
ewalker@miamiherald.com

Read more: http://www.miamiherald.com