Modera Biscayne Bay Tower Tops Off – Preleasing Begins May 2021

Modera Biscayne Bay Tower
Modera Biscayne Bay Tower Tops Off

Modera Biscayne Bay recently toped off on the 28-story tower located at 2150 N Bayshore Drive in Edgewater. This luxury mixed-use residential tower features 296 apartments for rent, 11,000 square feet of retail space, and an 8-story parking garage with 425 spaces. This tower was originally occupied by Unity on the Bay Church before demolition.

Building Information:

Modera Biscayne Bay Tower View from Biscayne Bay

Building Amenities:

  • 27th-floor amenity deck
  • Rooftop pool
  • Barbecue area
  • Club-quality fitness studio
  • Yoga and Pilates studio
  • Clubhouse
  • Internet/business lounge
  • Conference room
  • Coffee Bar
  • Pet Spa
  • Catering kitchen for entertainment
Modera Biscayne Bay Aerial View

Leases Include:

  • Digital package lockers
  • Additional storage areas
  • Bike storage
  • 8 stories of structured parking
Modera Biscayne Bay Preleasing in May 2021

Resident Amenities:

  • 1, 2, and 3 bedroom apartments (den and penthouse options available)
  • Energy Star® stainless steel appliances
  • Quartz countertops
  • Tile flooring
  • Upgraded fixtures
  • Tile backsplashes
  • In-home washers and dryers
  • Walk-in closets
  • Programmable thermostats
  • Private patios or balconies
  • Select units feature:
    • 15-foot ceilings
    • Breakfast bars
    • Double vanities
    • Linen closets
    • Built-in storage/shelving.

As construction continues with the last phase, Modera Biscayne Bay will begin pre-leasing in May 2021.

Modera Biscayne Bay Garage View

Pharrell Williams and David Grutman Debut the 7-Story Goodtime Hotel in Miami Beach

Goodtime Hotel Pool View
Goodtime Hotel in Miami Beach

David Grutman and Pharrell Williams will debut their first hotel collaboration on Thursday in Miami Beach.

The 7-story Goodtime Hotel is located at 601 Washington Avenue in Miami Beach and will feature 266 rooms spanning a full block with 100,000 square feet of indoor space. This Deco-style hotel features a pool deck, restaurant, private lounge, and main floor retail.

Goodtime Hotel Pool Deck and Lounge

Grutman and Williams also partnered with New-York based real estate development firm, Imperial Cos. for this project. They have previously collaborated on a Miami Design District restaurant, Swan & Bar Bevy which has been a huge success. Ken Fulk who assisted with the interior design for the Swan Bevy restaurant was also the lead designer for this hotel project.

Grutman stated, “I always wanted to be a hotel [owner] to try to complete my ecosystem in hospitality.”

The hotel restaurant, Strawberry Moon, is a 30,000 square foot Mediterranean restaurant which will also flow into a bar and pool deck, all located on the third floor. The ground-floor retailers have not been released.

The Goodtime Hotel Drone View

According to The South Florida Business Journal, The Goodtime Hotel is expected to be the largest hotel in Miami Beach by rooms.

Property records also show that Imperial Cos. purchased the property for $5.75 million in June 2015.

Since people are wanting to spend more time outdoors due to the pandemic, Miami is now seen as the “go-to” destination. Imperial Cos. owner stated “If there is a net winner coming out of this pandemic, Miami is top of that list.”

City of Miami Approves New 37-Story Tower Called The District

The District in downtown Miami
Rendering for the new 37-tower called The District.

The City of Miami has recently approved The Related Group and Parcel C LLC’s proposal for a 37-story residential tower in downtown Miami, named ‘The District.’ This project will included 343 residential condos, 2,297 square feet of retail space, and will have no parking (the developer is requesting a waiver to allow off-site parking). The design and plans were prepared by Siegar Suarez Architects.

The District is proposed to be 393 plus feet tall and will be located at 225 and 223 N. Miami Avenue. According to Miami Today, The District will have retail on the ground floor and the apartments will be located above the retail space. The paperwork that was filed also includes that some units may be transitioned into hotel rooms as well.

Amenities for The District include a gym, raquetball, basketball, lounges, pool-deck, rooftop spa, and barbeque area.

Several waivers have were requested and approved for the Miami 21 zoning code:

  • Primary and secondary setbacks
  • Side and rear setbacks above the eighth story
  • Permit off-site parking within 1,000 feet
  • 10% increase in the maximum lot coverage
  • Two residential loading berths substituted for one commercial loading berth
  • Reduction of the required ground level setback on the property’s frontage

According to the Board member Robert Behar, who shared concerns about pedestrian safety with the limited amount of parking available.

According to the The Related Group’s Attorney, Ms. Escarra, has stated, “The Project limits the interaction between vehicles and pedestrians by removing vehicular access to the Property. This will allow pedestrians to enter the Project with no vehicular conflict, as parking will be provided offsite, per the requested Waiver.”

The city’s Urban Development Review Board voted unanimously to recommend approval of the project on April 9, 2021. The construction permit has not been filed yet and the groundbreaking is set to begin sometime this year.

UNA Residences Miami Construction Update

UNA Residences-View from Biscayne Bay.

UNA Residences Miami is a 47-story residential condo tower located in the Brickell neighborhood at 175 SE 25th Road. With its waterfront location and sleek yacht design, it is truly a masterpiece. Designers Adrian Smith + Gordon Gill Architecture (designers of Dubai’s Burj Khalifa and the Jeddah Tower in Saudi Arabia) are partnering with Enzo Enea to create a luxury atmosphere inside and out. Developers include the OKO Group and Cain International.

UNA Residences will feature floor to ceiling glass surfaces on every floor ‘reflecting the Miami sunshine,’ 10′ 8″ foot ceilings in every residence, and the most spectacular views of Biscayne Bay and the Rickenbacker causeway. Prices for these remarkable units range from $942,000 to $6,643,000.

UNA Residences Construction Overview

Construction is currently underway. Rebar is being brought in to construct the foundation and cranes are onsite beginning the dig-out of the 100,000 square feet car garage, which will be 50 feet deep and three stories below sea level. According to a construction update from the Florida Construction news, 800 holes will be drilled into the ground then filled with concrete creating interlocking pillars that will eventually construct a cement block for the garage. That block will then be hollowed out to create the deep garage.

BUILDING FEATURES

  • 135 luxury condominium residences
  • Iconic 45-story waterfront condominium
  • 2 to 5 bedroom residences ranging from 1,100 to 4,786 sq ft
  • Unobstructed views of the Atlantic Ocean, Biscayne Bay, and the city skyline
  • High-efficiency and noise-reducing floor-to-ceiling exterior glass
  • Three levels of underground parking

RESIDENCE FEATURES

  • Private elevator entries into each residence
  • Expansive terraces with effortless “lift-and-glide” floor-to-ceiling doors and glass balcony railings
  • 10’8″ ceiling heights, above Miami standard
  • Chef’s kitchens with Gaggenau ovens, electric induction cook tops, microwaves, dishwashers, and refrigerators/freezers
  • Master suites with separate his and hers closets and bathrooms
  • Utility rooms with full-sized washers and dryers
  • Flow-through residences with east-to-west ocean and city exposures on the top floors
  • Two penthouses, each with a private pool and 11’7″ to 12’4″ ceilings

AMENITIES

  • Bayfront pool
  • Outdoor lap pool
  • Family pool
  • Jacuzzi
  • Catering kitchen
  • Kids’ splash-pad area
  • Owners’ lounge
  • Private dining/party room
  • Movie theater
  • Kids’ playroom
  • Outdoor lounge
  • Baywalk access
  • State-of-the-art fitness center, with yoga and personal training areas, plus his and hers dressing rooms
  • Private marina
  • Spa with steam room and sauna, as well as indoor and outdoor private massage treatment rooms overlooking the bay
  • Dedicated beauty suite for private hair styling, manicure and pedicure appointments
  • Beautifully landscaped outdoor terraces
  • Dog-walk area
  • Private air-conditioned storage areas

SERVICES

  • 24-hour concierge service
  • Combination of valet service and self-parking
  • Package room
UNA Residences Miami Construction Overview

UNA Residences Miami is estimated to be completed summer of 2022. We will continue to update this article once construction has progressed.

Dezer Development Launches Bentley Residences

Dezer Development announces Bentley-branded luxury tower, Bentley Residences.

Miami welcomes the first-ever Bentley-branded luxury residential tower. The news was announced today that this remarkable tower will stand tall along with other luxury car brands like the Porsche Design Tower and Aston Martin Residences. This remarkable project will have a sophisticated and sleek design standing at 749 feet tall in Sunny Isles Beach. This tower will be the tallest beachfront tower in the U.S. and its height already has FAA approval.

Dezer Development and Sieger Suarez Architects will be partnering to create a luxurious design worthy of the Bentley brand. Dezer and Sieger Suarez has previously worked on Armani and Porsche towers. Gil Dezer, President of Dezer Development states, “Partnering with Bentley Motors, a true global luxury brand and being able to create another first in the Miami marketplace is an extraordinary opportunity.”

According to the press release, there will be 200+ residences, each with a multi-car garage with a car elevator delivering your car straight to your residence (similar to that of Porsche Design Tower). Each unit will also feature its own private balcony, pool and sauna. Floor-to-ceiling windows throughout the residences with ocean and bay views.

Building amenities will include a gym, pool, spa, restaurant (TBD), lounge, cabanas, cinema, whiskey bar, and garden. According to Forbes, Bentley Residences will be built according to the the Florida Green Building Council Certifications with anticipations that the building will use less energy.

The ground breaking is expected to begin in 2023 and construction is expected to be complete by 2026. We will update this article as more information is published about Bentley Residences.

‘Millionaire’s Tax’ Heads to New York While Bankers, and Big Earners Head Out

The Charging Bull bronze statue in the Financial District of Manhattan.

High tax rates are common within the city of New York and it has never really steered bankers, fund managers, and big earners away from ‘The Big Apple.’ In fact, the appeal to live in New York has always been the exclusivity of living there if you could afford it. But with a recent New York state budget agreement that plans to raise rates among certain high earners, there are some that are looking to move and settle south.

According to a Reuters article, a high level employee at a large bank who does not want to be identified stated, “I’m already looking for an apartment in Florida.” There has also been talk among others who are earning more than $1 million are considering moving their entire firms out of the city.

The breakdown of the legislation would have the top New York City earners paying an upwards of 15.73% in combined state and city taxes. To put it in perspective, the current tax rate for the state range from 4% to 8.82% and the city ranges are 3.08% to 3.88%

This legislation was named the “millionaire’s tax,” and is expected to increase taxes for earners who make more than $1 million a year. If implemented, this tax would beat California’s (highest in the country) tax rate.

The New York Stock Exchange on Wall Street.

Larger companies have already started moving staff out of New York. Some of note are Goldman Sachs Group, Inc, Virtu Financial Inc, and Elliot Management. A smaller hedge fund manager stated, “This creates an overwhelming incentive to move.”

Geoffrey Weinstein, a tax attorney for Cole Schotz stated that, “When wealthy people don’t like something, they don’t protest, they just leave.” If this is the case, then the tax will eventually fall on earners making less that $1 million.

With more people working remote due to the pandemic, places like Florida that have lower tax rates, lower real estate taxes, and are fully opened are becoming an ideal location for top earners. And we at Miami Condo Investments welcome them with open arms!

Construction is Underway for Platform 3750 Project in West Grove Neighborhood Miami

Rendering of Platform 3750 by Kobi Karp Architecture

Platform 3750, a mixed-use project in the West Grove neighborhood of Miami has just broke ground at 3750 South Dixie Highway on 2.1 acres. This site is within walking distance of the Douglas Road Metrorail Station. The Cornerstone Group is the lead developer for this mixed-use project and is currently leasing from Miami-Dade County after winning a request for the RFP process.

This project is expected to create 300 jobs and is designed to ‘jumpstart economic activity’ in West Grove. It is anticipated to have 191 apartments, 21,000 square feet of retail space already leased to Aldi and Starbucks, 14,000 square feet of office space for the Cornerstone Group, 12,500 square feet of office space for the county’s Community Action & Human Services division, 3,000 square feet for the district office of county Commissioner Raquel Regalado, and 400 parking spaces.

Cornerstone Partner, Lenny Wolfe states, “West Grove has been neglected for a while. There was a very small amount of affordable housing built there and there is tremendous need. And it’s a food desert because there’s a real need for an affordable grocery store.”

This project was designed by Kobi Karp Architecture and the general contractor is Current Builders

The loan for this project includes a $60.5 million loan, $8 million county’s surtax, $3.5 million city government obligation bond, $1.95 million city Home loan, $1.4 million from the county economic development fund, and $5 million in tax credit equity.

Cornerstone Partners announced that they anticipate this project to be completed by the end of 2022.

The Future is Here – Miami Sees Its First Delivery Robots

Miami's First Food Delivery Service is Here

Cartken, a robotics startup, has recently partnered with REEF Technology to introduce self-driving delivery robots to Downtown Miami. REEF Technology currently offers fulfillment solutions, neighborhood kitchen deliveries, and parking solutions.

Founders of Cartken include ex-Google engineers, and have been developing this type of delivery service since 2019. This will be Carken’s first major introduction of self-driving robots in Miami.

While only operating within a 3/4 mile radius of downtown Miami, Cartken has been testing their electric-powered robots fulfilling orders from delivery-only kitchens. These robots are operating on the REEF’s network, are insulated, and can maintain heat for hot meals. Cartken already has designated logistics hubs and can be dispatched to restaurants while the food is being prepared.

Food Delivery Robots Come to Miami

Matt Lindenberger, REEF’s Chief Technology Officer stated, “We want to show how future-forward Miami can be. This is a great chance to show off the capabilities of the tech.”

There are currently only two restaurants utilizing Cartken in Miami with a large potential for expansion in other neighborhoods.

The robots are powered by rules-based programming and can actually stop and ask for help if necessary. Lindenberger stated, “The robot is seeing the environment, planning around obstacles like pedestrians or lampposts. If there’s an unknown situation, someone can help the robot out safely because it can stop on a dime.”

According to TechCrunch, the robots can only make it to street-level, where the customer has to come outside to pick up their food. Apartment complexes and units would be more difficult for the robot to navigate.

We will be following this story closely and will update as we learn more and as more restaurants begin using Cartken!

Construction has Reached the 49th Floor of the Aston Martin Residences Miami

View of Aston Martin Residences from Biscayne Bay

Aston Martin Residences is a condominium skyscraper currently under construction in Miami. Located at 300 Biscayne Bay Blvd in downtown Miami and situated along the Miami River and Biscayne Bay.

Aston Martin Residences Construction Update

The original plans for this tower were a proposed 66 stories and 817 feet high. According to a source, this tower will now be 70 stories, making it just over 860 feet. These additional stories will include an owner’s lounge among other amenities that will be released to the public as construction continues.

The construction has reached the 49th floor and has almost reached the height of Epic Residences which is directly west of the tower. It has also cleared the Met 1 tower which is directly east of Aston Martin Residences.

Although the tower will be larger than proposed, it will still have its amazing features with 391 residences with studio to 4 bedroom unit options. Floor 56 and above are dedicated to the penthouse units with panoramic views and their own private pools. The building will also feature a full-service marina which will accommodate super yachts!

Aston Martin Residences Tower View from the Top

Although the building size has changed, there has been no official update on when the project will be completed. As it stands, construction is expected to be complete in 2022. We will update this article once we receive more information on this luxury condominium tower!

Elysee Receives TCO – Closings are set to begin in the Coming Days

Elysee Photo From Biscayne Bay

No, it’s not an April Fool’s joke, Elysee has finally received its TCO! Two Roads Development, the developer of Elysee, has officially received its temporary certificate of occupancy after a five-month delay, which means that closings will begin in the upcoming days. According to our sources, Elysee is approaching 90% sold.

Elysee will be the tallest building in the Edgewater neighborhood standing 57 stories on the shore of Biscayne Bay. Elysee sets a new standard of luxury with its contemporary architecture, designed by Bernardo Fort-Brescia of Arquitectonia. The building was designed with three tiers of different sizes with the largest tier on the top creating a telescopic shape.

Elysee Tower View

With only 100 units (no more than two per floor), this layout creates unobstructed Miami and Biscayne Bay for every unit.

Tower Information

Pool View of Elysee Tower

Residence Information

  • 2 Units per floor
    • Units have the option to be designed
  • 3-, 4-, 5-Bedroom layouts with den options
    • 3 Floor plans from 2,660 to 3,995 sq. ft.
    • Duplex options
  • Private elevators
  • 10 − 11 ft. ceilings
  • Fully decorated units
  • Impact resistant floor-to-ceiling glass windows and sliding glass balcony doors
  • Two 8-10 foot terraces facing East & West (sunrise & sunset)
  • 360-Degree Views
  • Savant wireless technology systems
  • ItalKraft® cabinetry in kitchens and baths
  • Sub-Zero® and Wolf® stainless steel appliances
  • Full size washer & dryer
  • Designer faucets and fixtures
  • 50% of the residences have nanny/maid’s quarters
  • Two parking spaces per residence
  • Toto® Toilets
  • Service and staff elevator(s)
  • Over 50% of residences have nanny/maid’s quarters
Drone View of Elysee Tower

Building Amenities

  • 24-Hour door attendants
  • 24-Hour security and video surveillance
  • White glove concierge service
  • On-site automobile concierge
  • Valet parking
  • Expansive 30ft wide motor court
  • Landscape and grounds crew
  • Robotic parking
  • Two guest suites available
  • Storage area
  • Bike storage

7th Floor Amenities

  • 360-Degree views
  • 75-Foot resort pool
  • Outdoor summer kitchen & BBQ terrace
  • Fitness center and Yoga studio
  • Dedicated men and women’s spa with sauna, steam shower & massage tables
  • Blow dry bar
  • Children’s room adjacent to fitness center
  • Teen room
  • Two guest suites

13th Floor Amenities

  • Great room with grand piano
  • South-facing grand dining room (Seats up to 30 Guests)
  • Library that converts to private theatre with high-definition projector
  • Full lounge bar
  • Chef’s kitchen
  • Chef’s table with indoor and outdoor seating
  • Business center
  • Resident wine storage
  • Game room

Pricing for Elysee

  • 3 Bedrooms: $.68M – $2.3M with a North Eastern exposure
  • 3 Bedrooms: $1.67M – $2.7M with a South Eastern exposure
  • 4 Bedrooms: $3.2M – $3.8M with a North Eastern exposure
  • 4 Bedrooms: $3.5M – $4.2M with South Eastern exposure

Although there are few units remaining, if you or someone you know has any interest in purchasing a remaining unit at Elysee, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332 for more information.