Wall Street Journal Mansion

THE WALL STREET JOURNAL. Friday, February 8, 2019 | M5B Special Advertising Feature High-Rise Living Millennials Make Living DowntownAppealingAgain by Julie Bennett ew Miami resident Patrick Hart Jr.,age 26,says he chose his apartment,on the 23rd floor of a downtown high-rise,for the balcony and ocean view.But sincehe Nmoved in last October,he’s discovered other advantages. His building, X Miami, also features a gym, indoor is the HALL Arts Residences, located near the city’s lounges and co-working spaces, plus outdoor grills art galleries and opera house. The complex includes Barry Grossman The Ballerina Restaurant and a swimming pool — amenities designed espe- a 28-story residential tower and the adjacent HALL at Oceana Bal Harbour cially for Hart and the thousands of other Millennials Arts Hotel, with 183 rooms. whose jobs take them to what the Urban Land Developer Craig Hall says that amenities will in- Institute (ULI) calls “18-hour-cities.” Retail stores clude an outdoor sculpture walk and wine room, CONDOS and restaurants suited to live-work-play lifestyles featuring Hall’s own Napa Valley vintages. pop up near these new living spaces, creating lively Emily Ray-Porter, who shares a condo in the Ritz- BY THE NUMBERS urban communities without the stress and hustle of Carlton Residences with her husband, says “Dallas OCEANA BAL HARBOUR “24-hour cities” like New York. was never a condo city. But a lot has changed in the last Marcus McDuffie, 29, who moved from Phoenix 10 years and now people are interested in this lifestyle.” 240 condos, opened in 2017; 42 units are still available, with prices from $1.8 into a Seattle high-rise last year, says he selected an OWNING A SLICE OF THE SEATTLE SKYLINE apartment building called Stratus because of ameni- million for a one-bedroom facing west to Change came to Downtown Seattle when over 100 ties that include rooftop party areas and an indoor $19.5 million for a four-bedroom, 6.5-bath technology firms moved in and the Millennial work- movie theater, but he too found more. “We’re in the penthouse. ers followed, says Dean Jones, principal and owner middle of a city, but there’s a small-town feel. Every of Realogics Sotheby’s International Realty. “Of the FOUR SEASONS day when I’m walking to work, I bump into friends,” 27,000 in-city, multifamily housing units developers PRIVATE RESIDENCES he says. put up in the last 10 years, 94 percent of them are FORT LAUDERDALE The 2019 “Emerging Trends in Real Estate Report” for rent. Now some of the tech workers want to own produced by ULI and PricewaterhouseCoopers, says 90 residences, will open in 2020. Most still a slice of the skyline themselves, and empty nesters these new urban-chic communities create a “metro available. Pricing for two- to four-bedroom who commute from the suburbs want to live down- magnetism.” The lifestyle is so appealing that older condos begins at $3.795 million. town, too.” professionals and retirees want to enjoy it, too — but So far, Seattle’s only completed recent luxury con- from their own luxury condominiums. THE ESTATES AT do project is the Gridiron, a 12-story restoration of Puerto Rican businessman Ricky Castro, for ex- ACQUALINA a historic Pioneer Square building topped with 107 ample, purchased a 43rd floor penthouse in the 245 luxury units, South Tower opening steel and glass homes. Potential buyers lined up Rise Residences in Brickell City Centre in Miami in early 2021; 73 percent of units pre-sold. when three other condo high rises — NEXUS, SPIRE 2018 and spends most weekends there. “The coolest Prices range from $4.2 million for a and KODA — announced pre-sales, even though the thing,” Castro says, “is that I’m in the middle of ev- three-bedroom unit to $36 million for the buildings will not be finished until later this year or erything. I can even walk to stores where I can buy penthouse. The North Tower, with 94 ultra in 2020, Jones says. new clothes.” luxury residences, will open for pre-sale NEXUS buyers include Hilary and Ian Salkind, who this month. DEMAND FOR LUXURY CONDOS IN DALLAS now live in suburban Bellevue. “We are excited about While Miami has an inventory of luxury down- trying the luxury-condo lifestyle and being able to RISE RESIDENCES IN town condos to choose from, developers in other 18- walk to the theater and restaurants,” Hilary says. “My BRICKELL CITY CENTRE hour cities are scrambling to meet the demand. husband will be close to his work, and there’s even a 390 units, opened in 2016; 65 percent In Dallas-Fort Worth, where over 100,000 new dog park on the 8th floor for our Yorkie.” sold; prices range from $650,000 for one- jobs are created each year, developers have 35,000 bedroom/1.5 bath to over $6 million for new rental units in their construction pipeline, but five-bedrooms/5.5 baths. almost no condominiums. In fact, the only condo Julie Bennett is a freelance writer specializing in real building underway in Downtown Dallas since 2010 estate, small business and employment issues. With its sublime setting, breathtaking ocean views, and world-class HOME IS collectionofcontemporaryart,you’llknowyou’vearrivedat WHERE Oceana Bal Harbour. Welcome home. THE ART IS Bal Harbour’s most prestigious oceanfront condo. 10201 Collins Avenue Interior design by Piero Lissoni Bal Harbour, FL 33154 Original sculptures by Jeff Koons Occupancy immediately oceanabalharbour.com Limited selection available 786 414 2914 Pluto & Prosperina– Jeff Koons Nothing herein shall constitute an offer to sell real estate in jurisdictions where prior qualification isquired re unless we have met such qualifications. The sketches, renderings, graphic materials, specifications, terms, conditions and statements contained in this brochure are proposed only,and the Developer reserves the right to modify, revise or withdraw any or all of same in its sole discretion and without prior notice. The photographs contained in this brochure have been taken off-site and are merely intended as illustrations of the activities and concepts depicted therein. For New York Residents: All prices are estimates. This advertisement is not an offering. This advertisement is a solicitation of interest in the advertised property. No offering of the advertised units can be made and no deposits can be accepted, or reservations, binding or non-binding, can be made until an offering plan is filed with the New York State Department of Law. This advertisement is made pursuant to Cooperative Policy Statement No. 1, issued by the New York State Department of Law. (Oceana Bal Harbour Condominium CPS No. -140057,Sponsor: Consultatio Bal Harbour, LLC, Sponsor’s Address: 10201 Collins Avenue, Bal Harbour, Florida 33154). Copyright 2015 Consultatio Bar Harbour, LLC – All Rights Reserved. EQUAL HOUSING OPPORTUNITY.

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