Grab Something Green and Celebrate St. Patrick’s Day in Miami – 2021

St. Patrick’s Day may be a little different for many this year but there are restaurants and bars in Miami that are still celebrating. Check out the list below for drink specials, bands, and all things green!

• The Taurus: Drink specials with St. Patrick’s Day-themed cocktails for $8, Guinness for $5, and Irish whiskey for $5. These specials are from 5pm until midnight.
• Tobacco Road: Living Music and drink specials include $5 Green Pabst Blue Ribbon, $6 Irish coffees, $7 Irish Car Bombs and $5 Irish whiskey.
• The Wharf: Tonight features live music and games! Food by Spris Artisan Pizza, La Santa Taqueria, and Mojo Donuts! Free Guinness every time you buy a shot of Jameson.
• Calle 23 Miami: Beer and Irish whiskey shot specials at $10 each, Guinness for $7 and Irish Mules for $10.
• Swarm in Wynwood: This festive street party is free and features live DJ, drink specials and games!
• Sunset Skyline Happy Hour Cruise: Departing from Biscayne Bay, this 90 minute happy hour cruise takes you past Star Island, Hibiscus Island, Palm Island, Fischer Island plus the famous Venetian Islands, all while drinking green beer!

Block Capital Group and Kushner Companies LLC Breaks Ground on Wynwood Neighborhood Project

After obtaining an $80 million construction loan, Kushner Companies LLC. and Block Capital Group broke ground on March 11, 2021, on a mixed-use project in the Wynwood neighborhood in Miami.

This project will consist of 152 apartments, 46,000 square feet of office space, 33,500 square of retail space, and 232 parking spaces with three roof decks and a large courtyard. There will be one-five and one-eight story buildings located at 129 N.W. 26th Street and 127 N.W. 27th Street, giving it the name WYND 27 and WYND 28.

According to Nicole Kushner Meye, Principal at Kushner, “This project is poised to mesh into the unparalleled Wynwood context and culture, while at the same time expand the vision and limits of this neighborhood with a tremendous addition of creative office, retail, and public space.”

Designer for this project is Arquitectonica who has also designed Inter Miami CF Stadium and Miami Freedom Park, Mr. C Miami – Coconut Grove, Brickell City Centre, 500 Brickell, and SLS Brickell Hotel & Residences.

There has been no reported completion date for the construction but we will update this article as the construction and time-line continues.

Subway Corporate Makes its Move to Miami

According to Restaurant Business Online; Subway, the Milford Connecticut based sandwich chain, will be relocating 10% of its operations to Miami. The new location is reported to be near Miami National Airport which also happens to be closer to home of John Chidsey, CEO of Subway, in Coral Gables.

In a statement following the company’s announcement, “A Miami presence allows us to keep our finger on the pulse of more cultural conversations and the evolving tastes of the modern consumer. With its dynamic business climate, diverse population and multicultural influences, it is the ideal place to transition some of our consumer-facing roles.”

The departments that are relocating include; marketing, culinary teams, and global transformation teams. This move will also make their U.S. and Canada based teams have stronger integration with their supply chains. Subway plans to move by the spring of 2022.

This change for Subway comes after a year of layoffs and an ‘executive overhaul,’ with a large number of store closings and buyouts.

Chidsey’s former chain, Burger King, is also located in Miami, as well as its sister company – Popeyes Louisiana Kitchen.

One Thousand Museum Tower Faces Foreclosure Due to Unpaid Loan

Designed by the late starchitect Zaha Hadid, One Thousand Museum is a luxury condo tower located in Miami’s Park West neighborhood. As reported by The Real Deal, the developers of it are facing foreclosure due to an unpaid loan of $82.7 million.

According to FinTech Zoom, the court filings include the Motoconb Estates, LTD., agent for David and Simon Reuben (Reuben Brothers), are seeking to overtake the remaining 15 units from the tower.

The Principal investor is Gilberto Bomeny and the co-developer is Louis Birdman. Caught by surprise, Birdman recently stated, “This action by our current lender was completely unexpected, as they are well aware that our sales team had a record-breaking year of sales, and that we are preparing to pay off the construction loan this month. We remain focused on the successful sellout of our limited number of remaining residences at One Thousand Museum during the course of this year.”

FinTech Zoom also reported that the Reuben Brothers are among some of Britain’s wealthiest families but are not well known in South Florida. This year alone, they purchased Kyu restaurant in Wynwood and a few additional properties in South Florida. They also acquired the One Thousand Museum loans in February 2021.

According to Birdman, “We are in the process of raising prices. The building is performing better than ever.” In the past year, over $100 million in units have sold as well as $35 million in quarter 1 of 2021.

Notables that currently reside at One-Thousand Museum include David and Victoria Beckham and French national team soccer player Paul Pogba.

South Florida Welcomes the 69th Miss Universe Pageant at the Seminole Hard Rock Hotel and Casino

The last time the Miss Universe Pageant was in South Florida was 2015 at the Florida International University. This year the pageant will be held at the Seminole Hard Rock Hotel & Casino Hollywood on May 16 and we can’t wait to see what this year’s pageant has in store!

Miss Universe was last held on December 8, 2019 at the Tyler Perry Studios in Atlanta and South Africa’s Zozibini Tunzi was crowned. Because of the pandemic, the 2020 pageant was cancelled.

The President of the Miss Universe Organization, Paula Schugart, stated that the event will follow CDC guidelines and that they have spent the past year working on ways to make the pageant as safe as possible including masks mandates, Plexiglass separating contestants and judges. Schugart also stated that “Our goal is to create a safe and engaging place for users to connect over interests and passions.”

It is unclear who the host will be for the 2021 pageant. The pageant will be available for viewing on the Telemundo Network. We will continuously update this article as we learn more information on the Miss Universe Pageant 2021.

First Treehouse Hotel will Open in Miami’s Brickell District in 2025

The Treehouse Brickell Hotel will be the first United States location as part of the SH Hotels & Resorts expansion. This 191-room, 62-floor, mixed-use hotel will be located at 1 Southside Park in the Brickell neighborhood.

According to the South Florida Business Journal, SH Hotels & Resorts is a subsidiary of Miami Beach-based Starwood Capital Group, led by Chairman and CEO Barry Sternlicht. SH Hotels & Resorts also operated the 1 Hotels brand, including 1 Hotel South Beach. There is currently one other Treehouse Hotel, located in London.

In a statement from SFBJ, Sternlicht said, “Brickell is the perfect place for a Treehouse. Like its London counterpart, Treehouse Brickell will be as much a destination for travelers as a local hangout, and will introduce a new kind of thoughtful, fun and imaginative hospitality experience to the area.”

This new hotel will be part of the 1 Southside development at 105-1133 S.W. Second Avenue, in Miami totaling 2.5 million square feet and rise 62 stories. This development will also include 1,175 apartments, 190,000 square feet of office space, and 11,000 square feet of restaurants.

• Developer: JDS Development Group
• Architects: SHoP Architects and ODP Architecture and Design
• Landscaping Designer: James Corner Field Operations
• Interior Designer: New York-based Rockwell Group

Michael Stern, founder and CEO of JDS Development Group states that “Barry continually raises the bar for exceptional experiences in hospitality, and our location at 1 Southside Park will provide the perfect environment to welcome Treehouse to Brickell … and celebrate the hotel’s first U.S. location.” Construction has begun and is expected to be completed by 2025.

The History of Brickell Miami

Over a hundred years ago, Brickell was a neighborhood of luxurious mansions and home to some of the wealthiest families, dubbing the name “Millionaire’s Row.” Located just south of downtown Miami, Brickell is lined with incredible towers, unique restaurants, marinas, and beaches; today Brickell is often referred as ‘Miami’s Manhattan’ as well as the ‘Financial District.’

Brickell’s Earliest Inhabitants

Evidence of Brickell’s earliest inhabitants include the Tequesta Indians, who are believed to have lived in South Florida for more that 2,500 years. The Miami Circle archeological site that is located at the Miami River to Biscayne Bay is the earliest evidence of the Tequesta settlement. According to the archeological site, a Tequesta hut once stood across the river from a burial mound. During construction of a hotel, the mound was destroyed but the circle still remains.

The Brickell Family

Brickell was named after Will and Mary Brickell. They were one of the earliest families recorded to have established a home and a trading post in the Brickell neighborhood in 1871. They purchased large pieces of land and the trading post was located at what is now Fifth Street and Brickell Avenue. The family’s extensive real estate included all of the current Brickell and just south of Coconut Grove. When construction of the railroad reached Miami in 1896, the Brickell’s negotiated the extension of the railroad into Miami, creating a prime location for trade and development.

The Skyscraper Era

During the Great Depression, some homeowners in Brickell began to subdivide their homes, which took on the appearance of ‘rooming houses’ and, after World War II, additional changes of retail and institutional buildings appeared on Brickell Avenue. By the 1980s, the old Millionaire’s Row became the era of towers and skyscrapers and became a banking center headquarters. Atlantis on Brickell is a Miami landmark and was one of the very first towers built on Brickell. It is known for its glass façade and 5-story palm court cut out of the building.

Modern Day Brickell

Brickell has been on a developmental rise since the 1980’s. Present day Brickell is made up of massive residential towers, apartment buildings, offices, and hotels. Brickell is also home to international banks; HSBC, Espirito Santo Bank, and Banco Santander. Towers are getting larger and developments are moving further west towards I-95 to accommodate the growth.

At the heart of Brickell, two large, mixed-use developments ; Mary Brickell Village and Brickell City Centre are located. Mary Brickell Village includes 200,000 square feet of bars, shops, and restaurants. Toscana Divino, Blue Martini, Shake Shack, North Italia, and P.F. Chang’s are some of the notable tenants. Brickell City Centre, opened in November of 2016 spans over 9 acres and cost over $1 Billion. It includes 500,000 square feet of open-air retail featuring luxury brands such as Chopard and Valentino, a 5-star hotel called East Hotel, and 780 luxury condo residences in the Brickell City Centre Towers called Rise and Reach. Brickell City Centre also includes a high-end movie theater and an Italian food hall called Casa Tua Cucina.

It will be exciting to see what the next 20 years have in store for the Brickell neighborhood!

Sources:

• “Point View Subdivision in Brickell.” Miami History. 31 Jan. 2017, https://miami-history.com/point-view-subdivision-in-brickell/
• “The History of Brickell Miami’s Manhattan.” The Big Bubble Miami, 9 Oct. 2018, https://thebigbubblemiami.com/2018/10/09/the-history-of-brickell-miamis-manhattan/
• “Miami’s Circle.” Wikipedia. 17 Aug. 2010, https://en.wikipedia.org/wiki/Miami_Circle

Cindy Crawford & Rande Gerber Buys Waterfront Condo at The Ritz-Carlton Residences Miami Beach

We’ve confirmed with multiple sources that Cindy Crawford and Rande Gerber recently purchased a luxury waterfront residence at The Ritz-Carlton Residences Miami Beach. The ultra-luxe, ultra-exclusive waterfront development is centrally located in Miami Beach at 4701 North Meridian Avenue, just minutes from the art-centric Faena District and, more importantly, within blocks of 4404 North Bay Road, the address of the waterfront home the celebrity couple purchased this past December for $9.625M. Crawford and Gerber plan to tear down the house currently residing there and build anew atop the 17,000-square-foot lot featuring over 100 feet of water frontage and wide-open bay views. By living so close to their North Bay Road address, the duo will be able to keep a close eye on construction. (After all, we all know that everything runs behind schedule in Miami!)

Two-bedroom condos at The Ritz-Carlton Residences Miami Beach range from 1,879 to 3,207 interior square feet plus terrace. The residences feature private elevator foyers, floor-to-ceiling glass windows, a Boffi-designed kitchen with Gaggenau appliances, and a jetted soaking tub in the master bath.

Other notables who have purchased property at The Ritz-Carlton Residences Miami Beach include MLB Hall of Fame catcher Mike Piazza; CEO of American Eagle Outfitters, Jay Schottenstein; and former Miss Germany Petra Levin.

The Ritz-Carlton Residences Miami Beach is no longer Miami Beach’s best-kept secret. Since December, including Crawford and Gerber’s recent purchase and our own Lucas Lechuga’s record-breaking penthouse sale in January, over $125M worth of property has sold at The Ritz-Carlton Residences Miami Beach!

Introducing Onda in Bay Harbor – an 8-Story Tower to Begin Construction This Year

‘Onda’, the Italian word for ‘wave,’ will be the newest luxury 8-story condominium tower on the shore of Bay Harbor Islands. Designed by award-wining architect Bernardo Fort-Brescia, Onda will be harnessing Italian-styled finish by Valerio Morabito and Ugo Colombo.

Featuring 41 units throughout 8 floors with private and semi-private elevators, this boutique building is located on a small island next to Bal Harbor with exceptional views of Sunny Isle.

BUILDER AND ARCHITECT INFORMATION

• Developers: Ugo Colombo and Valerio Mortabito
• Interior Design: Carlo y Paolo Colombo
• Architect: Bernardo Fort-Brescia

CONDOMINIUM CHARACTERISTICS

• 2 Bedroom + den (1,809 square feet) to 4 bedroom + den (3,523 square feet)
• 4 penthouse options
• Spacious terraces available

BUILDING FEATURES:

• Private Marina with 12 boat slips

PRICING

• Price ranges from $1.7 million to $8 million
• HOA is $1.29/sf
• Deposit Breakdown:
  • 10% with Reservation
  • 10% at Contract
  • 10% at Ground Breaking
  • 10% at Top Off (summer 2022) /
  • 60% at Closing

The groundbreaking for this project is expected to begin in Q4 of 2021 and the construction is estimated to be complete Q1 of 2023.

Ugo Colombo is also the premier builder for Brickell Flatiron, Santa Maria, Epic, Bristol Tower, and Grovener House. We are excited to see what this new project has in store!

Luxury Condo Rentals are Slim Pickings as Inventory Runs Dry

As the wealthy continue to pour into South Florida in an effort to escape cold weather and severe lockdowns, Miami is seeing its inventory of luxury condo rentals dwindle to shockingly low levels. Below is a list of 48 luxury condominium buildings located throughout Miami-Dade County that are known to have large floor plans. Of the 48 buildings, 23 of them have zero units available for rent, 15 have just one, and 12 have only two. That’s just a total of 39 rental units across 48 luxury buildings.

Earlier today, an agent on my team went to submit a full-price offer for a unit that had been listed for rent just yesterday. However, by the time she did, it was already gone. Within the first 24 hours, the listing agent had received 7 offers, 3 of which were full-price offers and one that was $300 above the asking price. It’s that type of rental market right now, and there’s no sign it will let up any time soon. By the end of this year, less than 450 new luxury condos will be delivered throughout Miami-Dade County, and who knows how many of them will hit the rental market (100 units from Elysee in Edgewater, 154 units from Turnberry Ocean Club in Sunny Isles Beach, 71 units from 57 Ocean in Miami Beach, 59 from Monad Terrace in South Beach, and 61 from Aurora in Sunny Isles Beach).

I never thought I’d say this, especially after the last two overdevelopment cycles, but “build, baby, build”. New inventory can’t come soon enough. With more and more financial and tech companies relocating to Miami and large corporations announcing they will continue allowing their employees to work from anywhere in the world even after the pandemic is over, Miami is well-positioned for solid price appreciation for at least the next three to four years.