Miami–Homeowners at Marquis Residences, an upscale condominium property that shares a 67-story tower with the Tempo Miami resort hotel, will now be able to lease out their condominiums under a new extended-stay program that will provide long-term visitors with the comforts of a lavish home coupled with the accommodations of a luxury hotel.
Developed by Africa-Israel USA and designed by Arquitectonica, Marquis offers 292 units at 1100 Biscayne Blvd., right at the intersection of Miami Beach and the bustling local arts and entertainment district. The property’s sales program commenced just 15 months ago, and 60 percent of the units have already been claimed, accounting for more than $100 million in sales. In addition to the premier location, buyers have been attracted to the high-end amenities the condominium community provides, including a 6,000 square-foot spa and fitness center, a 14th-floor sky pool deck with gardens and “the fastest high-speed elevators south of New York.” An additional attraction for residents is the five-star hotel service made available through Tempo, which maintains its 70 guest suites on floors one through 14 of the skyscraper.
The premier location and amenities package have lured buyers, and now the extended-stay program is serving as an extra enticement for prospective buyers and an added luxury for existing owners, many of whom count Marquis as a second home. “The idea emerged from meetings we had with secondary homebuyers, and the more we spoke with them, we came to realize that they’re only here at Marquis for a few months out of the year,” Marquis sales director Wendy Marks Pine, of Cervera Real Estate, tells MHN. “So we knew this program would be helpful for them to offset their bottom line, and that it would make others would more interested in purchasing.” Residents do not have to bother themselves with the details, as RockResorts International L.L.C., owner of Tempo, is managing the program.
And there is a ready-made pool of potential renters right onsite, as any Tempo guests interested in staying for more than 30 days can lease at Marquis. “It’s appealing because it’s turnkey but it has the same look and feel for people who stay at RockResorts’ hotels. They feel right at home,” Pine notes. The property’s location also presents a rich opportunity for attracting customers. Marquis is within minutes of Miami International Airport and sits just across from the American Airlines Arena, home to the Miami Heat, the Adrienne Arsht Center for the Performing Arts and the new Miami Art Museum, debuting in 2013. “When there are performers in town or athletes coming in, they will have a long-term stay option with all the comforts of home plus the amenities of an upscale hotel.”
Marquis announced the extended-stay option on April 26 at a private event held for residents, 35 of whom expressed a strong interest. “Right now we have five owners working with RockResorts to finalize contracts to move forward with the extended-stay program for their own private residence.”
It wasn’t just the owners who took note of the new program. Hopeful long-term renters were attracted, too. “There was interest on both sides,” she says. “We don’t like turning anyone away but we had to turn someone away because we didn’t have a unit ready.” However, Marquis will not have to put off customers for very long. Owners participating in the program will work with Trend Design, which is orchestrating the finishings for the long-term stay conversions, and TUI Lifestyle, which is overseeing furniture details. “We’ll provide the best of resort living but in a residence instead of a hotel. It is the best of both worlds.”