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Coronavirus Pandemic Prompts Developers to Rethink the Future of Homes

06.10.2020 – 57ocean

From materials to layouts to amenities, post-pandemic new residences could look different from today BY DIMA WILLIAMS  |  ORIGINALLY PUBLISHED ON MAY 24, 2020  |  MANSION GLOBAL For developer Scott Gillen, the coronavirus pandemic is redefining what he sentimentally describes as “home is home.” A residence is no longer a place to simply “eat, shower and sleep” before venturing into a bustling world for school, work and social events,…

Coronavirus Has Some Buyers Purchasing Homes Without Setting Foot Inside Them

05.18.2020 – 57ocean

Wall Street Journal Article by Candance Taylor The growing trend of using Facetime and Zoom to make home-buying decisions may continue after the pandemic. At the under-construction condo 57 Ocean in Miami Beach, the sales team recently mailed a pair of virtual reality goggles to a buyer to help seal the deal, said sales director Nirka Burns Padilla. The buyer, who lives in San Francisco,…

Despite lending slowdown, this Miami condo project landed a $58.5M construction loan

05.08.2020 – 57ocean

Miami Herald Article by Rebecca San Juan Backing for new projects has slowed as lenders take stock of the post-COVID economy. But the 57 Ocean project in Miami Beach is full ahead, thanks to a $58.5 million construction secured from Bank OZK, said developer Marcelo Kingston, managing partner of MultiplanREAM. “Bank OZK is pleased to be financing the final phases of 57 Ocean’s construction and…

New luxury condo 57 Ocean in Miami Beach nears 50% in pre-sales

01.23.2020 – 57ocean

January 15, 2020 The rendition above shows the latest condo tower gracing a waterfront slice of Mid-Beach. What’s the trendy real estate neighborhood drawing millionaires? Mid-Beach. The 18-story luxury condominium tower 57 Ocean at 5757 Collins Ave. is close to selling half of its 71 units since sales started in October 2018. According to Nirka Burns Padilla, a broker with Fortune International Group and director…

There’s a surplus of luxury condos in Miami, but three more developers are building anyway

06.25.2019 – 57ocean

Article Courtesy of The Miami Herald Sea level rise? No worries. Sluggish sales in the luxury market? Not a problem. Strict requirements for construction loans and traditional bank financing? There are other ways to buy a condo. High-end real estate development has slowed to a crawl in Miami-Dade, with most builders taking a breath while the market absorbs a bounty of condos priced at $1…

Brazilian developer redesigns Miami Beach condo to include more luxury units

06.24.2019 – 57ocean

Article Courtesy of The Real Deal The developer of a boutique luxury condo project in Miami Beach is adding units based on increased demand, a rarity during a condo market slowdown. Multiplan Real Estate Management is adding 10 “sky residences” to 57 Ocean, now a 71-unit development planned for 5775 Collins Avenue, managing partner Marcelo Kingston said. That brings the number of sky residences to…

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