Vision, style and desire shared the spotlight when mckafka Development Group, now launching The Crimson: Residences on Biscayne Bay, “Miami’s hottest new waterfront condominiums,” hosted an Aventura Marketing Council Chairman’s Roundtable luncheon. The event featured a “construction boom” update presented by Peter Zalewski, founder of Condo Vultures - the market intelligence company providing assistance in evaluating the state of residential and real estate markets in the tri-county South Florida region.
AMC Chair Cliff Schulman of Weiss, Serota, Helfman helped welcome business and community leaders gathered at Christine Lee’s at Gulfstream Park along with mckafka partners Stephan Gietl and Fernando Levy Hara, who serves as AMC Vice Chair; architect Stephane L'Écuyer of IDEA, (International Design, Engineering and Architecture); and team members from Baker / CVR Real Estate, helping to fulfill The Crimson promise to“Ignite Your Life!”
Hara and Gietl explained that in 2009, they co-founded Aventura-based mckafka Development Group, and in less than two years, the visionary firm bought more than 400 condominium units in South Florida and sold them to international investors. Today, mckafka has various projects in phases of planning or under construction including The Crimson – their first development high-style project during South Florida’s booming new condo construction cycle.
Ideally located in Miami’s most desirable midtown Edgewater district right next to Biscayne Bay, near shops, restaurants, cafes and clubs, Crimson’s unique 90 units are already 20 percent reserved. Spacious one, two and three-bedroom condos with large terraces or balconies will have spectacular water views and “Class A” amenities including a panoramic boardwalk, cybercafé, and the private, exclusive C Club featuring a promenade sundeck, tropical pool and hot tub.
Providing insight into record sales anticipated for The Crimson and many other new developments on the rise, Zalewski, named “Market Advisor of the Year” by the Miami Association of Realtors, noted, “South Florida is in the early stages of the region's latest construction boom. Developers are proposing at least 138 condo towers with more than 18,500 units for the tri-county region of coastal Miami-Dade, Broward, and Palm Beach. Fueled by investors primarily from overseas, about 2,450 new condo units remain unsold from a supply of nearly 49,000 units created since 2003 in South Florida’s largest coastal markets.”
According to Zalewski, winners in the new construction cycle share successful strategies such as building waterfront communities; marketing “niche-oriented” products that are either investor-grade or extremely luxurious; collaborating with superior property management companies; and keeping prices competitive despite escalating land costs. He went on to point out that condo development is also being driven by former homeowners seeking to downsize and rent from both foreign and domestic investors.
Reiterating really good news about South Florida real estate, Hara and Gietl left AMC members with winning mckafka words of wisdom: “We’re very optimistic about the future. This is still the land of opportunity and the strongest economy in the world!”
The Crimson sales center is located at 1444 Biscayne Boulevard. For more information, phone: 305-377-3337 or visit crimsonmiami.com.
Written by Bari Auerbach
Photography by Andrew Goldstein