Author:nalinitfc
YouTube stars and boxers Jake and Logan Paul have a pair of $20.5 million penthouses at E11even Residences Beyond under contract, the developer told the Business Journal.
The brothers entered into a deal to buy the penthouses last week after engaging in an augmented reality (AR) virtual tour of the future luxury condo, said Marc Roberts, one of the developers of the planned E11even Residences Beyond and E11even Hotel & Residences. The towers will rise 65 stories at 20 N.E. 11th St. in Miami.
“It was a few days after [Jake Paul] fought in Tampa. He came over to the sales center with his brother, Logan,” Roberts said, referring to the fight on Dec. 19, when Jake Paul knocked out UFC champion Tyrone Woodley.
The Paul brothers took the AR tour during a sneak preview of E11even Residence Beyond’s sales office with their mother, Pam Stepnick, and Jake Paul’s girlfriend, Julia Rose. Miami-based tech company Yupix created the AR tech. After the tour, the brothers each made their initial 10% deposits, which will not be refundable in two weeks, Roberts added.
New York-based Property Markets Group and E11even Partners, led by Michael Simkins, Dennis Degori, and Roberts, are developing the two E11even towers.
Construction on E11even Hotel & Residences commenced in November after the 400-unit tower sold out. Its amenities include a 20,000-square-foot entertainment complex on the 11th floor, a sports lounge, a sky deck, event space, and a wellness center. In that tower, short-term rentals are permitted.
E11even Residence Beyond will consist of 461 units, which can be rented for a minimum of 30 days. It will have amenities such as a full-floor coworking space, a private rooftop club, and a helipad for helicopters and other flying vehicles.
“By the time we are done here, we should be flying cars around like the Jetsons,” Roberts said.
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Prices at E11even Residence Beyond start in the mid-$300,000s for units of 318 square feet in size. Penthouses start at 2,213 square feet.
Currently, E11even Residence Beyond is slated to break ground in the summer, Roberts said, though the construction could start sooner.
“This one is selling out very quick. We are over 50% sold. We don’t even have a sales office. It’s not open to the public [yet],” Roberts said.
Simkins and Roberts own around 10 acres of land in Miami’s Park West neighborhood, near Overtown and the downtown Central Business District, including E11even Miami, a nightclub with burlesque dancers, DJs, and special events. The Paul brothers celebrated the Dec. 19 fight with 20 of their friends “like rock stars” at the venue, according to an E11even press release. Jake Paul even offered to fight Mexican champion boxer Canelo Alvarez at E11even nightclub.
The sales center for E11even Residences Beyond is located across the street from E11even Nightclub, at 29 N.E. 11th St., and it’s expected be open to the general public in a couple of weeks, Roberts said.
Multiple trends are shaking up condo buying in South Florida, including changing demands from wealthy people moving to the area.
