ION East Edgewater Condominium Introduces Luxury Residences at a Value in Miami's Upscale Edgewater Neighborhood
Miami's fast-growing Edgewater area continues to rise in popularity among Latin American buyers, who are driving the city's booming luxury real estate market.
MIAMI, July 22, 2014 /PRNewswire/ -- In a move that offers luxury real estate at a value in Miami's most sought-after neighborhood of Edgewater, a joint venture between SAKOR Development and an affiliate of Encore Housing Opportunity Fund has announced the launch of sales at ION East Edgewater condominium. Buoyed by aggressive pricing for the upscale Edgewater area, the 36-story residential tower has proven to be the best value in the neighborhood – attracting foreign buyers in the market for an Edgewater condo with luxury amenities at a lower price-point. ION will feature 330 residences beginning in the low $300,000 range, offering one, two and three-bedroom units with den options, as well as two-story townhomes. Construction of the project, located at 2701 Biscayne Boulevard, is slated for completion in late 2016. Preconstruction reservations are now underway.
According to the Miami Downtown Development Authority (DDA), Edgewater is the fastest-growing real estate market in Miami's urban core, with a 67% increase of condo inventory currently underway or planned. Being that international buyers account for more than 90% of all sales in today's market, Edgewater's rapid growth is being driven by foreign buyer activity in the area – with the majority of sales coming from Latin America.
Top hospitality interior design firm Hirsch Bedner, which has imagined ION's incredible design elements, created the uniqueness of the Mandarin Oriental Miami, Mandarin Oriental Time Warner Center, Taj Palace Dubai and The Beverly Hills Hotel. Arquitectonica, the project's internationally-acclaimed architecture firm, has been behind some of the most recognizable buildings in the world.
"Premium amenities, a prominent location in Miami's urban core, interiors and exteriors created by two of the world's top design firms, and unbelievable pricing – ION is certainly a great opportunity for buyers," says SAKOR Principal Barbara Salk, on behalf of the project's development team. "We're selling East Edgewater's location and lifestyle. Living in an urban setting just minutes from the city's top destinations and neighborhoods is appealing to buyers from around the world."
Life at ION will radiate from the building's half-acre resort-style amenity deck on the eighth floor, home to an elaborate 75-foot heated lap pool, Jacuzzi, multiple reflective pools, and a "dive-in" pool-side cinema. The expansive deck will also include private cabanas, outdoor summer kitchen, hammock garden, large fire pit, bocce court, and a fully-equipped fitness center with an outdoor yoga and cross-fit area. The experience continues at the building's rooftop sky deck, where residents and their guests will be greeted by panoramic bay and city views, plunge pool, sun terrace and a sky bar/lounge area.
Prior to launching SAKOR Development, Barbara Salk served as one of The Related Group's most senior developers in South Florida for more than a decade, overseeing the development of residential projects valued at more than $1 billion. SAKOR's Stephen Kornfeld has led companies that have completed assignments for the development of some of the largest construction projects in the world, including New York's World Financial Center, Miami's St. Regis Bal Harbour Resort, and London's Canary Wharf enclave.
Encore Housing Opportunity Fund is a seasoned residential real estate development and investment firm whose principals are also involved in Miami Worldcenter – one of the largest urban mixed use projects in the country. Encore operates two opportunistic funds and one private REIT, which when fully deployed, are anticipated to have in excess of $1 billion in assets under management.
For more information, including preconstruction sales opportunities, please contact Cervera Real Estate at (866) ION-EAST (866-466-3278), or visit www.ionmiamicondos.com.
CONTACT: Allie Schwartz, 1-305-858-3935, [email protected].
Photo - http://photos.prnewswire.com/prnh/20140711/126407
SOURCE SAKOR Development
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