Price Per Square Foot for Doral Rentals About Half of Brickell’s

As rental rates in Brickell, Edgewater and the surrounding neighborhoods climb, it may be time to start looking west – west towards Doral that is.  Doral real estate is in the middle of an explosion with new communities under development and construction.  Communities like CityPlace Doral, Midtown Doral, and more in the works, Doral is quickly becoming a more appealing alternative for renters. 

In an October article in The Real Deal, Miami real estate developers and experts predict that increases in rental rates are inevitable. Young professionals are flocking to the Miami hotspots in search of living in the middle of all of the action.  Developer Fernando Levy Hara, the brains behind up and coming Crimson Condominium in Edgewater anticipates that rental investors should be able to garner over $2,600 per month for a one-bedroom and as much as $4,000 per month for a two-bedroom based on what comparable rentals are bringing in.  According to the article, the developer is guaranteeing $3 per square foot for units at Crimson leased through his mckafka Development Group. $3 per square foot!

Another major developer,  Harvey Hernandez, Managing Director, Newgard Development Group which is developing Brickell House and Centro, stated in the article that the “rise in rental rates is being driven by a limited supply of rentals and an influx of young professionals moving to Miami’s urban core, which includes Brickell, downtown Miami, Edgewater and Midtown.”  

To give you a comparison of what you get in Doral for the same amount, let’s use a study mentioned in the article that stated “the average monthly rent along the Biscayne Corridor – which includes Brickell, downtown Miami, Wynwood, Midtown and the Design District – rose from $2,250 in January to $2,675 in October.”  Doral rental properties fetching $2,600 per month may be a little further from the action in terms of their distance from Brickell but deliver more room and more amenities.  Here is a sample of what you get in Doral for about the same monthly rental rate. 

The Reserve at Doral, 74^th Street at NW 107^th Avenue (EAST)/74^th Street at NW 114^th Avenue (WEST).  Divided into two sections, the Reserve at Doral consists of three and four-bedroom townhouses with square footage ranging from just under 2,000 square feet to almost 2,300 square feet.  Kitchens are loaded with stainless steel appliances, granite counter tops and contemporary custom cabinets.  Master bedrooms have his and hers walk-in closets in addition to the master baths with his and hers vanities.  Each section has its own clubhouse and pool along with fitness and other amenities.  The location is ideal with easy access to the major thoroughfares and a quick drive to golf and shopping.  Rental rates typically fall between $2,500 and $3,000 as the rentals currently available do.  When you compare the price per square foot, the Reserve at Doral rentals feature price per square foot is well below $2 – falling between $1 and $1.30.  Talk about more bang for your monthly buck!

Vintage Estates/Vintage Place, NW 107^th Avenue.  A brand new neighborhood located in the heart of Doral, Vintage Estates and Vintage Place have single-family homes for rent throughout the entire neighborhood.  Vintage Estates is a new exclusive neighborhood with Mediterranean style architecture throughout the design along with tons of upgrades and amenities.  In each home, renters can find state of the art kitchens with all the brand new bells and whistles.  The fixtures and finishes make this a dream home to rent.  As for amenities, it has all the stuff that everyone wants – a pool, clubhouse, landscaping and more.  For rentals with monthly rates between $2,500 and $3,000, the square footage for homes ranges between about 2,200 and 2,500 square feet.  This means that the price per square foot starts these homes is at about $1.00 and goes up to about $1.40.  Vintage Estates rentals are very affordable and a top consideration when looking at renting in Miami-Dade. 

About Half the Price Per Square Foot

In addition to Vintage Estates and the Reserve at Doral, other Doral rental properties feature prices per square foot at the same level -- $1.00 to $1.50.  Essentially, for about half the price per square foot, Doral rentals equate to a brand new single family home or lovely townhouse rather than a one or two-bedroom condominium residence with only about 1,000 square feet in Brickell.

Suddenly, a 15-minute drive to Brickell is not so long! Something to think about, huh?

Shoma Group Introduces The Sanctuary at Doral

Yet another upscale neighborhood is underway adding to the appeal of Doral.  While many Doral neighborhoods, whether new or established, have set a new standard of living that combines comfort and affordability, The Sanctuary at Doral takes luxury living to a whole new level. 

The Sanctuary at Doral is a small, exclusive enclave of only 12 estate-style homes with square footage starting at about 4,600 square feet.  The neighborhood is designed to offer maximum privacy and luxury to those who expect a certain standard of living.  From the guard-gated entrance to the large 20,000 square-foot lots and floor plans with tons of amenities, nothing is spared in an effort to design an exclusive community. 

The Sanctuary at Doral Specifics

At the Sanctuary at Doral, the architecture style of the homes is a beautiful blend of contemporary and Mediterranean design to create a true showplace that is understated yet impressive.  One of the best attributes about the floor plans is that every buyer has a basis from which to start but can add or take away spaces to create their dream home. 

Located on Doral Boulevard (41^st Street) across from Univision Studios, the Sanctuary at Doral is close to great shopping, Trump National and everything else that Doral has to offer.  On top of that, this extraordinary neighborhood provides easy access to the Turnpike and Palmetto expressways.

The Shoma Group is taking what is more than likely the last bit of land in Doral to develop the Sanctuary at Doral.  Other Doral communities by the Shoma Group include Oasis Park Square, Contempo at Doral, Doral View and more. 

Along with one of Miami’s well-known developers, Ramon Pacheco Architecture is crafting the designs for home owners to build their dream homes.  This firm is known for designing some of the most spectacular homes in South Florida.

Amenities at the Sanctuary at Doral

Each home offers homes that are custom-designed to fit the needs and desires of their owners.  In addition to the individual crafting, each home provides the following features with more coming:

• 15 X 30 infinity pools
• Impact windows and doors
• Smart home technology
• Elevators
• Security system
• Sub-Zero/Wolf stainless steel appliances
• Italian cabinets
• Kohler fixtures
• Marble floors
• Three-car garages
• Covered terraces

Mansions at Doral Real Estate Information

Floor plans feature large 4,500+ square foot homes.  With five floor plans from which to choose, following is a price list:

Model A:                                                     $2,950,000

• One-Story
• Swimming Pool
• 6 Bed/6-1/2 Bath                              5,531 SF
• 3-Car Garage                                    756 SF
• Covered Terrace/Entry                       916 SF

Model B:                                                     $2,700,000

• Two-Story
• Sitting Area
• Balconies
• Swimming Pool
• 6 Bed/6-1/2 Bath                              4,631 SF
• 3-Car Garage                                    767 SF
• Covered Terrace/Balcony/Entry          674 SF

Model C:                                                     $3,200,000

• Two-Story
• Sitting Area
• Balcony
• Swimming Pool
• 6 Bed/6-1/2 Bath                              5,414 SF
• 3-Car Garage                                    734 SF
• Covered Terrace/Balcony/Entry          1,394 SF

Model D:                                                     $3,200,000

• Two-Story
• Sitting Area
• Balcony
• Playroom
• Swimming Pool
• 6 Bed/6-1/2 Bath                              4,586 SF
• 3-Car Garage                                    746 SF
• Covered Terrace/Balcony/Entry          1,193 SF

Model E:                                                     $3,600,000

• Two-Story
• Sitting Area
• Balcony
• Playroom
• Swimming Pool
• 6 Bed/6-1/2 Bath                              6,452 SF
• 3-Car Garage                                    827 SF
• Covered Terrace/Balcony/Entry          1,632 SF

Stay Tuned

As more information comes for the Sanctuary at Doral, this neighborhood will be one that luxury home buyers begin to notice.  If you are interested in seeing floor plans or pictures, please contact us.   Its exclusivity and size are rare in all of South Florida and should be on the radar for the most discriminating buyers. 

IKEA: Doral's Newest Appeal

 There is nothing like that planned trip to IKEA -- we all plan it with our friends -- a day filled with wandering through one of the most wonderful stores in the world.  And in Doral, residents have had the opportunity to  stroll in the recently opened IKEA store in their own backyard.  IKEA not only brought top notch home shopping to this Miami suburb, it also brought 350 additional jobs to the area.

The significance of a store like IKEA coming to Doral is monumental when you consider major chain retail stores do rigorous viability studies to determine whether the area can  handle and support such a store.  With the growing population of Doral on its own, not to mention the surrounding communities, of course Doral can support IKEA!  Residents within a 30 mile radius flood the store when it opens each and every day.  And, it is a day-long excursion with the Swedish restaurant, cafe and market to fend off hungriness and so much to see.

New and Pre-Construction Communities in Doral           

Throughout the recession several years ago, Doral real estate seemed to stay the course and show growth even while other parts of South Florida seemed to hang on a vine.  All that has changed as real estate development is back with a vengeance.  From Miami's financial hub, Brickell to the Edgewater neighborhood and further west to Doral, new residential communities and condominiums are under construction or in the works. 

In Doral, there are so many new communities attracting all sorts of buyers who want to move here permanently or part time, or buy property as rental investments.  With their unique style and  architecture, neighborhoods like Modern Doral, the Mansions at Doral, and Vintage Estates along with condominiums and townhouse communities like City Place Doral and Downtown Doral, beckon home decor from IKEA. 

By the Numbers

Doral is probably the most well-known for its affordability in addition to the Trump National Resort.  In Doral, the real estate accommodates a wide range of buyers from the more affordable for first-time buyers and those wanting to scale down to the more high-end buyer who has a certain lifestyle to maintain and wants a more estate-style home.  The best thing about Doral is that home buyers have the opportunity to get more bang for their buck with Doral real estate.  

Single family homes in Doral neighborhoods are priced from the low-$300s in neighborhoods like the Islands at Doral and Balmoral Estates and climb to well over $3 million in Doral Estates and the planned community of the Mansions at Doral.   Other neighborhoods like Doral Isles  offer several types of residential properties in all price ranges to fit with most every buyer.  Overall the price per square foot falls between the mid to upper -$200s and mid-$400s with some below and above. 

As for condominium and townhouse properties,  list prices start in the upper-$100s and climb to over $700K depending on the age and location of the property.  The Greens at Doral, Doral Park and other communities offer spacious condominium units and townhouses ideal for first time buyers and investors wanting rental properties as list prices typically fall between the mid to upper-$100s and the upper-$300s.  On the high end, Doral Colony, an established enclave of townhouses located in Doral Estates, and the newly developed Doral Cay feature larger properties that top $700K. 

Doral's Upward Trend

Stores like IKEA are very particular about where they decide to open a store.  The market must show definite viability in terms of being able to support a store of this size.  By opening in Doral, IKEA shows that this city is set to continue its upward trend.  Developers who have ventured west from Miami believe it too.  

With the new subdivisions and condominium communities under construction beginning to come to life, expect more businesses to head in this direction too.

As the holidays approach and gift giving season goes into full swing, make sure to spend  some time at IKEA -- you cannot go wrong with a gift from this store.  IKEA has stepped up to support Doral so now we must support it so make sure to spend some Christmas money at IKEA!

The Mansions at Doral: Doral’s Most Exclusive Neighborhood

Over the past couple of years, we have introduced several new Doral neighborhoods under development of which most offer residential properties that are more affordable while still offering lots of amenities.  The latest one in the works is a very upscale neighborhood with estate-style homes that is about to become one of Doral’s most exclusive neighborhoods.  Welcome to the Mansions at Doral.

The Mansions at Doral Details

Contemporary in style, the Mansions at Doral is an enclave of only 66 homes in a private, gated community located just off 107^th Avenue in a part of Doral close to several other exclusive communities.  The plans show that the neighborhood is within close proximity to major travel arteries and shopping as well as a very short drive to some of the best golf courses in the country. 

Involved in bringing the Mansions to life are a group of some of the most formidable masterminds in the business.  Century Homebuilders and Devtov are developing the upscale community each known for other area developments like Midtown Doral and IVI Doral.  

The architecture of the homes and common areas is under the direction of PPK Architects – the architects for the Promenade and the Reserve at Doral among other South Florida properties. The architectural design of the homes at the Mansions at Doral is sleek and contemporary with clean lines and a subtle style that seems to be emerging as the norm in new Doral communities.

View Homes for Sale at The Mansions at Doral

 

Amenities at the Mansions at Doral

In a neighborhood of this caliber only the best is expected which is definitely the case at the Mansions at Doral.  The plans show that home owners will be able to enjoy a community clubhouse like no other offering everything including a state of the art fitness center with his and hers lounges with showers, saunas, and a yoga studio as well as a large entertainment area with summer kitchen and grill, and a beautiful pool and sundeck.  Other expected amenities showcase a private and gated, access-controlled entry system, 24-hour security, a gorgeous entry lake with fountain, lush tropical landscapes, and convenient access to a green park with bike trails.

Inside each residence, luxury is the first thought when looking at the features.  Most imporant for almost every homeowner, the kitchen is huge with tons of quartz counter tops, high-end stainless steel appliances, sleek custom cabinetry, and so much more.  Elsewhere in the home, homeowners can find all the bells and whistles expected in a home of this caliber.  There is even the option of a rooftop terrace should buyers choose to add that.  There is even the option of an in-home elevator.  Additionally homes feature SMART technology with built-in iPad docking stations, built-in security systems, surround sound and more.  The plans are semi-customizable providing the chance to build a dream home. 

Mansions at Doral Real Estate Information

The few listings available for the Mansions at Doral show list prices starting at just under $1.2 million for 3,500+ square foot homes.  Tentative completion dates indicate the end of 2015 to the beginning of 2016.  More will be available as the Mansions at Doral community comes to fruition. 

Stay Tuned

As the Mansions at Doral comes alive, there will be much more information for potential buyers.  It is definitely going to be a gorgeous, upscale neighborhood like no other in Doral and will appeal to only the most discriminating buyers.  Doral real estate is definitely on the move so stay tuned for more.

Downtown Doral

With the construction of the Townhomes at Downtown Doral underway and properties listed, the Downtown Doral development is in full swing.  Doral is undergoing a major overhaul with the addition of new residential and mixed-use properties but none compare to the extent that is planned for Downtown Doral.  The new Doral Government Center’s location in the middle of the Downtown Doral development and the construction of a new charter elementary school (due for completion by Fall 2015) show the importance of this part of Doral.  The Codina Partners have a vision of Downtown Doral being the hub of the entire city.   To bring this dream to life, Codina has teamed up with Lennar to build a city within a city.

In addition to the Government Center, there three-acres of public park space with $2 million of playgrounds, green space and a sculpture pavilion by artist Michelle Ona Doner.  Construction of the Townhomes is in full swing with completion of the first phase in the works and already sold out (re-sales have been listed) while the condominium is expected to be complete by the end of 2016.  On top of that, one million square feet of office space and 200,000 square feet of retail space are shown to be part of the development. 

Downtown Doral Location

Situated just north of the Miami International Airport, Downtown Doral is located between NW 87^th Avenue and NW 79^th Avenue with the newly, redesigned Blue Monster Course at Trump National Doral adjacent to the new community.  The location, in the heart of Doral, is ideal as it offers easy, quick access to the major thoroughfares leading into and out of Miami and the other areas within Miami-Dade, not to mention the major area travel hubs.    

Residential Property at Downtown Doral

Developers want living at Downtown Doral to be like living in a small town.  With tree lined streets, sidewalks and plenty of green space, residents will never want to live anywhere else. 

The residential plans for Downtown Doral consist of 2,840 properties spread out between condominium towers, townhouses and rental apartments.  With most still in the planning stages, the Townhomes at Downtown Doral are currently under construction.  Condominium construction should begin soon with completion of the first round of condominiums due at the beginning of 2016.  The first phase of the Townhomes is already sold out with strong sales for the first round of condominium sales.   Following is an overview of the residential property at Downtown Doral:

The Townhomes at Downtown Doral.  The Townhomes at Downtown Doral are large and luxurious inside and out.  Gourmet kitchens feature European custom cabinets, granite counter tops, Energy Star certified stainless steel appliances and a work island with raised breakfast bar as well as a roomy breakfast area.  The main living areas and bedrooms are open and airy with marble tile floors in the main living areas and marble framed window sills throughout the entire home.  These properties are in high demand which is obvious by the fact that the first phase is sold out. 

5252 Paseo/5300 Paseo.  The condominiums at Downtown Doral are to be located at 5252 Paseo and 5300 Paseo.  The first, 5252 Paseo, feature one, two and three bedroom units with high-end finishes just as 5300 Paseo’s plans indicate.  Both buildings will be 20 floors with about 200 units in each building.  In addition to beautiful paseo or golf views, amenities in each residence will include a gourmet kitchen with stone counter tops, high-end steel appliances and designer Italian kitchen cabinets.  At 5252 Paseo, the first 18 floors will house condominium units with six penthouses per floor on the top two floors.  Every unit will be accommodated with one assigned parking space with the penthouses receiving two spaces.  Every unit will have amazing paseo or golf views.  5300 Paseo is still in development but will be just as elegant luxurious as its sister condominium.

Cordoba Apartments.  For those who do not want to own real estate but want the opportunity to live in Downtown Doral, Cordoba will offer luxury rentals that are hands above the rest.  With fully green eco-friendly units offering high efficiency HVAC systems, thermal comfort windows for temperature and humidity control, and gourmet kitchens with Energy Star stainless steel appliances and modern cabinetry, Cordoba is definitely going to be a top rental community in the entire city of Doral. 

Real Estate at Downtown Doral

The response to Downtown Doral has been unbelievable which is logical considering the mix of residential property and the continually growing popularity of Doral real estate.

The Townhomes Real Estate.  There are two main floor plans which offer several options and range in size from about 1,800 square feet to almost 2,000 square feet.  The two-story townhomes have several options to accommodate buyers’ needs. Whether buyers want two master suites, a master and two guestrooms, or even a master suite, guestroom, and an upstairs loft or home office, these properties are hot tickets at the current moment.  On top of this, buyers have the option of adding a third floor with either a loft, family room, or large guest suite as well as a large top floor deck that accommodates an outdoor living/dining area which is perfect for living in Florida.  The first phase of Townhomes is sold out with a couple of re-sales listed in the upper-$500s to low-$600s.  For the upcoming construction, general Pricing is as follows (subject to change):

Floor Plan A

Price Range:                                                          $449,000 - $549,990

1,796 SF A/C Area + Garage = 2,276 Total SF

Floor Plan B

Price Range:                                                         $582,990 to $604,990

1,998 SF A/C Area + Garage = 2,504 Total SF      

3^RD Floor Penthouse Option

500 SF A/C Area

152 SF Covered Terrace

525 SF open deck

Total Additional Area: 1,177 SF                             $75,000

3^rd FLOOR ATRIUM OPTION

638 SF A/C Area

152 SF Covered Terrace

387 SF Open Deck

Total Additional Area: 1,177 SF                             $100,000

Buyers can expect a payment structure for the Townhomes at Downtown Doral to be:

• 15% at Contract
• 10% at Groundbreaking
• 10% at Top-off
• Finishes / Upgrades: 75% of Total Upgrade Package or amount to sum 50% of total purchase

5252 Paseo.  5252 Paseo features one, two, and three-bedroom units some with dens as well as two and three-bedroom penthouses.  The square footage ranges from about 750 to just over 1,900 square feet.  At this point, there are over 40 units reserved.  

General pricing for the condominium is as follows:

Tower	Line #	Residence	Type	View	Sq Ft (A/C)	List Price
Paseo	02	A	3BR/2BA	Golf	1,455	$501-568K
Paseo	12	B	3BR/BA +DEN	Golf	1,577	$513-612K
Paseo	11	C	2BR/2BA	Paseo	1,195	$388-425K
Paseo	10	D	2BR/2BA +DEN	Golf	1,166	$412-476K
Paseo	04	D	2BR/2BA +DEN	Golf	1,162	$411-481K
Paseo	01	E	2BR/2BA	Paseo	1,163	$393-450K
Paseo	09	F	2BR/2BA	Paseo	1,038	$369-390K
Paseo	03	F	2BR/2BA	Paseo	1,030	$360-387K
Paseo	08	G	1BR/1BA +DEN	Golf	848	$284-319K
Paseo	07	G	1BR/1BA +DEN	Golf	848	$280-334K
Paseo	06	H	1BR/1BA	Paseo	755	$252-287K
Paseo	05	H	1BR/1BA	Paseo	755	$252-290K
Paseo	06	PH1	3BR/2BA +DEN	180°	1,927	$839K
Paseo	01	PH2	3BR/2BA +DEN	180°	1,755	$779K
Paseo	02	PH3	2BR/2BA +DEN	Golf	1,560	$630K
Paseo	04	PH3	2BR/2BA +DEN	Golf	1,557	$630K
Paseo	05	PH4	2BR/2BA	Paseo	1,168	$490K

The payment structure for 5252 Paseo is as follows:

• 10% Reservation
• 10% at Contract
• 20% Groundbreaking (forthcoming)
• 10% Top-off (Approximately April 2015)
• Balance to close (Early 2016)

5300 Paseo.  The newly released plans show two and three-bedroom units ranging in size from 1,118 to 1,927 square feet.  Amenities will include a pool, children’s play area, fitness facilities and massage rooms. The units will have a golf-course view.  General pricing is as follows:

Model	# Bed/Bath	View	SQ FT	Price Range
A	3 BD/2BA	Golf	1,455	$512 to $596K
C	2 BD/2BA	Paseo	1,195	$399 to $449K
D	2 BD/2BA + Den	Golf	1,162	$439 to $508K
E	2 BD/2BA	Paseo	1,163	$420 to $470K
F	2 BD/2BA	Paseo	1,038	$373 to $400K
F	2 BD/2BA	Paseo	1,030	$368 to $403K
G	1 BD/1BA + Den	Golf	848	$330 to $373K
G	1 BD/1BA + Den	Golf	848	$324 to $368K
H	1 BD/1BA	Paseo	755	$287 to $313K
H	1 BD/1BA	Paseo	755	$285 to $307K
J	2 BD/1BA	Golf	1,052	$376 to $471K
K	1 BD/1BA	Golf	860	$299 to $353K
L	1 BD/1BA	Golf	829	$312 to $337K
PH	Various	Golf/Paseo	1,560-1,927	$679 to $869K

Making a Dream a Reality

Downtown Doral is something that the Codina Partners have been planning for almost 10 years.  Construction of the residential parts of the project signifies that they are finally making the dream a reality.  As more construction begins, so do the opportunities to buy Doral real estate at Downtown Doral.  Now is the time to consider all it has to offer.