Two Roads Development’s Elysee Miami, a luxury condominium tower set to rise in Miami’s East Edgewater neighborhood, has begun the process of converting its reservation agreements to contracts. Contracts are being mailed out to buyers, who have primarily hailed from countries including Venezuela, Mexico, Turkey and France, as well as domestically from within the United States. Meanwhile, crews are getting ready to begin demolition of the existing building at the future site of the 57-story tower, to be located along Biscayne Bay at 788 NE 23rd Street, to prepare the land for construction in the coming months.
“Elysee is seeing exceptional interest from buyers looking for both second homes and vacation properties, including end-users who want to live in Miami for at least part of the year,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, Elysee’s exclusive sales and marketing brokerage. “We’re continuing to see a range of buyer activity from Central America, South America, Europe, and from the northeast United States with growing interest from locals who are attracted by Elysee’s larger floor plans, direct views and fabulous design.”
Elysee will be home to 100 half-floor and full-floor residences ranging from three- to five-bedroom units measuring between 2,600 and 4,000 square feet in size. The slender glass tower, designed by Arquitectonica, will feature a distinct three-tiered telescoping shape providing direct, unobstructed 180-degree bay and city views from every residence. Preconstruction sales are currently underway, with prices from $1.8 million to over $10 million.
The project’s sales model follows the 50 percent deposit structure that has been popularized during this cycle. Buyer deposit payments are staggered with 10 to 20 percent down at varying stages – from reservation all the way to the concrete pouring of the unit floor slab – with the balance due at closing.
“The overwhelming response we’ve received at Elysee is a testament to the unique appeal of living in a boutique building in one of Miami’s most desirable areas,” said James Harpel, Chairman and Senior Partner of Two Roads Development. “We look forward to seeing our sales momentum continue as we get closer to groundbreaking in the months ahead.”
Elysee’s elegant design concepts are the creation of France’s top interior designer Jean-Louis Deniot, who has signed on to imagine the building’s common area amenity spaces. Featured on the ELLE Décor and Architectural Digest AD100 lists of the world’s preeminent talents in architecture and interior design, the Paris-based designer has been recognized worldwide for his eclectic and emblematic interiors.
Residents will have access to two full-floor amenity levels, each with 360-degree views of Biscayne Bay and downtown Miami. On the 30th floor, Elysee’s Owners Sky Lounge is designed to serve as an extension of each residence and will include extravagant amenities such as a Great Room, Grand Salon entertainment area with a full bar and piano lounge, Grand Dining Room with seating for up to 30 guests, wine room, chef’s kitchen, library, private theater, and gaming room. A second amenity level on the building’s 7th floor will feature a 75-foot resort pool with a poolside refreshment bar, outdoor summer kitchen and a barbecue terrace; a health club with a fitness center, yoga studio, and spa with sauna, steam and shower facilities, as well as private massage rooms; a children’s room and blow dry bar.
Residence features include floor-to-ceiling glass windows and sliding doors, private elevators and foyers, 10- to 11-foot ceiling heights, designer faucets and fixtures, premium appliances, top-of-the-line Italian kitchen and bathroom cabinetry, as well as two 8-foot east/west-facing terraces with unobstructed sunrise/sunset views. Additionally, units are pre-wired with customizable home automation systems capable of wireless control of lighting, window treatments, climate and audio/visual systems.
Two Roads Development is also developing Biscayne Beach, a nearby luxury condominium currently under construction in East Edgewater at 2900 NE 7th Avenue, as part of a joint venture with New York-based GTIS Partners. The 52-story bayfront tower will feature interiors by design star Thom Filicia and is slated for delivery at the end of 2016.