Shangri La Luxury Fractional Miami Real Estate Condos, including a Mega Yacht Marina

Shangri La Miami Luxury Condos

Miami Real Estate Trends presents Shangri La Island Gardens Condo Residences on Watson Island in Miami developed by Flagstone. For floorplans, specific unit pricing, and fractional ownership descriptions please call us today.

The Residences Condos at Island Gardens on Watson Island is situated on a never developed ten acre site directly facing downtown Miami. South Beach, downtown Miami, the Carnival Center for the performing arts and the brand new bicentennial park are all just moments away. This is miami's first large-scale fractional ownership property with a deep water harbour. The property will also feature the Shangri-La hotel, which will be THE premier luxury resort in Miami catering to the ultra luxury five diamond traveller.

The fractional properties at Shangri La Island Gardens Miami, located above and serviced by the five-star hotel, will provide service-rich living, unparalleled views, and be sold in seven parcels per property, providing purchasers the opportunity to own a portion of a unit. The terms of Flagstone's 75-year ground lease and development agreement with the City of Miami enable the construction of up to 100 residential units to be sold on a 1/8 fractional interest basis. The fractional units will total approximately 340,000 square feet.

These fractional units offer a unique and attractive opportunity for second homebuyers by providing service-rich luxury living and amenities without the cost and responsibilities of a wholly owned second home. Fractional units are ideal for vacation homebuyers who are reluctant to invest substantial capital in a second or third home that often receives infrequent use and requires significant upkeep. These are vacation homes to enjoy, not manage.

Fractional interests of luxury apartments, townhouses and single-family homes have become a rapidly emerging market throughout the U.S., particularly in resort locations. Miami is a unique location for fractional units as it enjoys a long season in the fall, winter and spring and a limited shoulder season – ideal circumstances for year around fractional unit usage.

Island Gardens Fractional Condo Ownership

:: Shangri La Miami Luxury Fractional Condos Amenities ::

Membership to the Island Gardens Yacht Ownership Program
Priviledged Access to the CHI, The Spa at Shangi-La Hotel, Miami
The Residences Club members pool
Private club members lounge
Full butler service
24 hour concierge service
Chauffer services upon arrival, with to and from club services in European luxury sedans
24 hour room service
Pre-arrival grocery shopping, in addition to unpacking and setup of belongings prior to arrival
Packing up and storage of personal belongings in a secure, climate controlled environment upon departure.
Fine dining at the restaurants at Island Gardens
Over sixty of the world's most cutting-edge designer labels and shopping boutiques
Beautifully landscaped environment of Island Gardens
Over 10 acres of lush tropical gardens featuring spectacular Downtown Miami views as well as rare and unusual plant species
A 1,000 foot waterfront promenade of Palms
A cultured environment alive with performing and civic arts (located next to the
Miami Children's Museum and Carnival Center of Performing Arts)

:: Shangri La Miami Luxury Fractional Condos Service and Features ::

Shangri La Miami Luxury Fractional Condos Services and Features

High-end, luxury units with related facilities, services and unique amenity package located on the upper floors of the five-star hotel
Full service amenities provided by the experienced five-star hotel staff
100 units, with eight fractions per unit, for a total of 800 fractions
Unit mix of approximately 20% two-bedrooms, 55% three-bedrooms and 25% four-bedrooms
Weighted average unit size of approximately 2,400 square feet (1,800 square-foot two-bedroom units, 2,300 and 2,500 square-foot three-bedroom units,
3000 square-foot four-bedroom units
Fully Furnished residences by Piero Lissoni
Private or semi-private elevator lobby
European Designed Kitchens
Imported Stone Flooring
Floor to ceiling impact-resistant windows which open to deep terraces.
Residences to be managed and serviced by Shangri-La Hotels and Resorts (Asia's premier ultra-luxury hotel group)

:: Shangri La Miami Yacht Owership ::

Owners and residents of Island Gardens Residences on Watson Island will be entitled to anywhere from 2 - 6 days of Yacht Ownership, depending upon type of unit purchased. This will include yacht staff & most on-board supplies (additional fueling fee will apply).

:: Shangri La Shop and Retail Space ::

Island Gardens will house select boutiques and stores from the US and around the world, creating a fusion between familiar brands and unique, international retail offerings that have thrived, almost exclusively, in harbor cities around the world. Retailers will be carefully selected to appeal to Miami's year-round and seasonal residents, as well as visitors to greater Miami. There will be no major "large-box" anchors, but a fashionable mix of international and domestic boutique offerings with 2-4 "mini-anchors," which is one of the newest concepts in lifestyle and street retailing. This spectacular destination venue will feature many merchants not currently present in the Miami market.

:: Shangri La Island Gradens Dining ::

Island Gardens' 221,000 square feet of shopping and dining will offer a spectacular destination venue for both Miami's residents and visitors. With unparalleled water and city views, the more than 10 restaurants and cafes of varying price points will ensure that Island Gardens becomes one of Miami's finest dining destinations.
Island Gardens will become a dining destination in and of itself through its unique collection of award-winning, international restaurateurs offering a mix of cuisines, atmospheres and price points will make Island Gardens a dining destination in and of itself. With a critical mass of approximately 36,000 square feet accommodating over 2,000 seats indoors/outdoors and unmatched water/city views, Island Gardens' restaurants and cafes will become some of the finest dining destinations in South Florida. Additionally, Island Gardens' proximity to the new Performing Arts Center will make it the destination for pre- and post- show dining.

:: Shangri La Island Gradens Spa ::

Island Gardens will house a distinctive, destination resort spa, which will be available to the hotel guests, fractional owners as well as to other patrons. The spa will be run by an internationally recognized organization with a top-tier spa brand and will provide a full line of contemporary services to its clientele. The spa, together with the roof gardens and pools, will be located atop the 5-star hotel at nearly 120 feet above sea level, and will enjoy spectacular views of downtown Miami and Biscayne Bay.

:: Shangri La Island Gradens Q and A ::

1. When do sales start or when did sales start?
Currently accepting $5,000 reservations for a fractional interest or 5% deposits on whole-ownership.

2. Is this a condo hotel? If so what are rental splits with owners and what is the rental policy?
This is not a condo hotel. No. It is a Private Residence Club being sold in fractional interests. Owners will have the option to take part in the rental program at-will or rent it through any other source.

3. If not a condo hotel what is rental policy? The owners will receive an operating management agreement from Shangri-La Hotel and Resorts, which will outline their rental agreement and hotel revenue split which will be very similar to industry standards. They will receive this agreement a year before closing.

4. How much is the 1st deposit and when is due? The first deposit is $5,000 per fractional ownership and this is due when the purchaser signs the reservation agreement, then when the contracts are submitted the balance of 10% of the purchase price is due at this contract stage. All escrow deposits earn interest which is credited to the buyer.

5. How much is the 2nd deposit and when is due (If Applicable)? The second 10% is due at the beginning of vertical construction. Approximately late summer/early fall.

6. How much is the 3rd deposit and when is it due (If Applicable)? Not applicable. The remainder is due at closing.

7. Are deposits held by a NEUTRAL escrow agent? If yes, who is the escrow agent? What are the conditions of the escrow? If no, who will be holding the escrow? Yes, ecrow will remain in an interest bearing account with Baker & Hostetler. The escrow funds are never touched during the building process and remain in escrow up to the day of closing.

8. Will the deposits be held by the developer in an interest or non interest bearing escrow account? If yes, what is the interest rate and who is entitle to such interest?
Above, and the interest rate is 1.5% to be credited to buyer on the closing statement.

9. If the developer goes bankrupt, how is a buyer insured to receive their deposit back? (Example: Is the account insured by performance bond?)
All deposits will remain in escrow in an interest bearing account. If the project does not go forward deposits will be fully refunded to all purchasers.

10. May buyer's purchaser units under a corporate name? Yes

11. How may the buyer hold title to the property (Ex: Fee simple, bank trust, etc.)?
Title will will be conveyed as fee simple ownership in a leasehold property.

12. Are pets allowed?
As a fractional ownership property there are no pets allowed.

13. How many buildings are part of the project?
The project consists of two hotel towers, 221,000 square feet of retail space (including various entities and restaurants), and additional smaller structures. (restaurants, kiosks, museum).

14. How many stories will the buildings be?
The Shangri-La Hotel and Residences Tower will be 44 stories.
The 4-star business hotel will be 29 stories.
The retail shopping promenade will be 3 stories.

15. How many units will there be in each building?
The Residences consists of 800 fractional units (100 total Residences), 17 Ownership types, 1 Sky Mansion (reserved), 4 Penthouses (1-reserved).

16. How many units per floor?
Ranges from 4-6 units depending on the location in the building.

17. What will the monthly maintenance fee per sq. foot basis be?
Annual Club Dues will range from $10,000 - $35,000 per fractional interest billed in quarterly installments. Furthermore it is totally comprehensive of all services & amenities, reserves for the Residences, utilities, maintenance on the Residence, maintenance on the Yacht (if opt-in), chauffer service and sedan services, personnel salaries, housekeeping, concierge, TAXES, and INSURANCE.

18. What is the range price per sq. foot in project? (Lowest to Highest) Please note: all units come fully furnished & accessorized and the price of The Yacht Program is built into the total cost. Current price range is $205,000 - $765,000 (note, pricing is subject to change without prior notice)

19. When do you expect construction to start on the project?
We will begin to wrap the site and finish the utility lines this summer and begin vertical construction early fall.

20. When do you expect construction to be completed?
The Mega-Yacht Marina and the retail space is anticipated to be completed by the end of 2009 and the Residences and Hotels toward the end of 2010.

21. Approximately what percentage of the purchase price will the closing cost be (Including all fees)? 1.5%

22. Who is the Architect? What other Projects have they designed? What is their Web Site? Eric R. Kuhne. Eric R. Kuhne & Associates. Some projects include: the 1.6 million square foot Bluewater shopping center in Kent, United Kingdom, the largest shopping center in Europe; and Darling Park, a 1.1 million square foot mixed-used development in Sydney, the largest waterfront development in Australia.
http://www.civicarts.com/

23. What other projects are being built in the area? Island Gardens is being built on a never-developed parcel of land on the small and mostly unoccupied Watson Island. Only a children’s museum, small zoo, and marina reside there now.

24. How does your project compare to your competition on price per sq. foot basis? The only other fractional real estate offering in Miami/Miami Beach is The Ritz Carlton Club and we are below their current price of acquisition and our property offers considerably larger units.

25. What other civic and cultural developments are taking place in the neighborhood? The Port of Miami Tunnel Project.

Shangri La Island Garden Miami
Info Request Form

Miami Real Estate
Phone (305) 433-2818
Fax (786) 524-4644

KNOW YOUR RIGHTS BEFORE YOU BUY CONDOS

Chapter 718 Florida Statute establishes procedures for creating, selling and operating condominiums. The law requires that the developer give a disclosure statement to the buyer stating that the buyer may cancel the contract within 15 calendar days of signing the contract (not Reservation) or of receipt by the buyer of the condominium documents, whichever is later. A purchaser of an existing (resale) condominium unit has the right to cancel the contract within 3 business days after the date of the execution of the contract and receipt by the buyer of the condo documents.

Disclaimer: Please note Dan Maza P.A. and/or any sub agent or partners of Dan Maza P.A. are independent Real Estate Agent or Brokers that Cooperate with the developer(s). Dan Maza P.A. is not the exclusive agents for this project. All client's prices are the same with or without the use of our services. All commissions are paid by the Developer. The Purchaser does NOT owe any commission to our sales group.

Note: All Pictures, Floor Plans, Site Plans and Literature are Copyrighted materials of the DEVELOPER or MiamiRealEstateTrends.com. Any unauthorized reproduction of any information without the permission of the developer may be subject to civil penatly as per copyright infringement laws.

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