Miami is Getting St. Regis Branded Twin Condominium Towers
The Related Group and Integra Investments are teaming together to transform the beachfront site of an affordable senior living housing facility in Miami into a pair of luxurious St. Regis-branded condo buildings. The towers are expected to rise 48 and 47 stories tall on 3.16 acres on 1809 Brickell Avenue.
The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.
Since 2014, Miami-based Integra has owned the existing bayfront building, formerly known as the Stanley Axelrod Towers. Integra paid $14 million for the 17-story tower currently located at the pre-construction site called the George Humphreys Tower built-in 1966.
According to documents from the Department of Housing and Urban Development withdrew the building from its affordable housing agreement in summer 2021. This implies that one of the remaining affordable housing complexes in Miami’s Brickell Financial District, one of the most expensive districts, will be demolished shortly.
According to a principal at Integra, Nelson Stabile, “Given the insatiable demand for top-tier residential product, we feel the market is ready for a bespoke building of this caliber — a masterpiece with an elevated lifestyle experience that only the iconic St. Regis brand can deliver.”
Units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million. Throughout the twin towers will span 55,000 square feet of amenities that will include a St. Regis Tea Room, an indoor lap pool, and a residents-only restaurant.
While the building will not include a hotel and short-term rentals will not be authorized, St. Regis Hotels & Resorts, located in New York, will provide services to future condo tenants.
Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.
A-Rod Flips a Bay Point Miami Waterfront Property for a Profit
Alex Rodriguez is at again! In another recent investment move in Miami, A-Rod and associates recently sold a waterfront home as a flip for $6.3 million. The property is located in the Bay Point neighborhood of Miami.
Rodriguez and his partners purchased the property in March 2021 for $5.5 million without doing any renovations or redevelopments for the property. This isn’t the first time A-Rod has made headway in Miami. In October 2021, A-Rod has invested in the Grand Station apartment tower as well as the South Beach Hotel in August 2021.
This current waterfront property located at 4425 Island Road in the heart of the Design District was originally built in 1962 along a lagoon leading to Biscayne Bay. The home features 3,107 square feet of living space sited on over 15,000 square feet of water frontage.
The property features a traditional floor plan with tall ceilings and an abundance of natural light. The kitchen showcases an expansive island with white cabinets, granite countertops, and stainless steel appliances.
The property features an in-ground pool, bbq area, and lush landscaping. The current listing states that the property is good for a new build or the renovate the existing home. The buyers for this property plan on redeveloping it for their needs.
Over the past year, prices for Bay Point have increased especially with waterfront homes. Although these prices are much lower for the surrounding areas, A-Rob and his associates made a profit on this investment.
M Tower Redesign Renderings Revealed
Located at 56 SW 1st St and 65 SW 2nd Street, M Tower will rise 49 stories in Downtown Miami. Recently, the developers released renderings for a redesign of the tower. M-Tower will be developed by the Miami Parking Authority and a private developer in a partnership.
The old plans showcased the property reaching 53 stories, 440 condo units, and 818 parking spaces. The tower was proposed to encompass 622,783 square feet total with 25,732 square feet of office space and 1,089 square feet of retail. These previous designs were created by Zyscovich Architects.
The new designs showcase 624 condo units, ground floor retail, offices for Miami Parking Authority, and 717 parking spaces. The architect for the redesign is NBWW Architects located in Coral Gables.
In the previous design, the older garage on the property was to be refinished and incorporate some of the new design but the current plans show an entire demolition of the site with plans to rebuild.
The property that the proposed M Tower sits on sold earlier this year to an affiliate of the Lion Group NYC for $10 million.
If the new redesign is approved by all parties, then construction will begin in 2022.
Developers for Legacy Hotel & Residences Receives Third Largest Construction Loan Ever in Florida
Developer Dan Kodsi’s Royal Palm Companies recently received a $340 million construction loan for Legacy Hotel & Residences. New York-based real estate lending joint venture Silverstein Capital Partners, provided the loan for a condo-hotel construction tower that will be located in Downtown Miami at Miami Worldcenter.
According to a press release, the financing is the third-largest construction loan ever made in Florida, behind two others for projects in Miami-Dade. The other two loans were for the building of The Estates at Acqualina in Sunny Isles Beach ($558 million) and Five Park in Miami Beach ($345 million).
Legacy Hotel & Residences began selling in late 2019 and despite the pandemic, it is already entirely pre-sold, with $160 million in sales.
The luxury tower located at 942 Northeast First Avenue, will rise 50 stories at 668 feet tall making it the second tallest tower at Miami Worldcener. This mixed-use development will feature 312 residential units, 262 luxury hotel rooms, a business center, medical office, retail space, and rooftop atrium.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO.
Not only is this loan one of the largest construction loans in Florida but this is also Silverstein Capital Partner’s first South Florida loan. Larry Silverstein of Silverstein Properties is an affiliate of the financial group and also led the development of the World Trade Center after 9/11.
Kobi Karp Architects, Design Agency, and ID & Design International designed the structure.
The ground-breaking for Legacy Hotel & Residences occurred in August 2021 and is expected to reach top-off in 2024.
Plans for a 23 Story Tower Proposed in North Miami Beach
Miami-based Humberto Ramirez Developers are currently under contract on a North Miami Beach office building with plans to a 23-story condo-hotel.
Officially scheduled for December 13, North Miami’s City Planning & Zoning Board will be presented the proposal for the tower located at 2040 N.E. 163rd Street. The 1.09-acre site currently holds a 3 story 26,766 square foot office building with a medical practice and a consulting firm as the current tenants. The property is currently owned by North Miami Beach company, 2040 Investments.
Designed by Bermello Ajamil & Partners, the proposed tower would feature 334 condo units, 30 hotel rooms, and a 410-space parking garage (13 electric car spaces) totaling 272,660 square feet. According to the proposed plans, 144 one-bedroom units, 162 two-bedroom units, and 28 three-bedroom units.
The property would also feature 7,328 square feet of retail space. The parking garage would rise 7 stories tall and the hotel rooms would line the front of the garage.
Amenities for this tower would feature a pool deck above the parking garage, game room, and fitness center.
North Miami Beach has adopted revised zoning for its eastern portion in recent years in order to stimulate construction and increased density. The city hopes to attract additional people as well as business development to the region
Aston Martin Residences Presents the Penthouse Collection
In the wake of top-off on construction for the sail-shaped Aston Martin Residences, a series of exclusive penthouses known as the Penthouse Collection was unveiled. There are currently 7 sprawling penthouses in the collection for the 66-story super-tall skyscraper. The most unique thing about these penthouses is that each floor plan and finishes are custom and 100% gorgeous.
The penthouses begin on floor 56 right above the amenity deck. Two of the penthouses, which are at least 8,800 square feet in size and cost between $16.7 million and $25 million, have already been sold. While the developer releases the collection, here is some exclusive information on penthouse number 5!
This penthouse located on the 60th-floor features 12,397 square feet of indoor and outdoor living space. Expanding through the entire floor, you will find 4 bedrooms, 6.5 bathrooms, and staff quarters. With 360 degrees of ocean and Miami views, this penthouse has it all, from the white marble to the floor-to-ceiling windows and beyond. Each penthouse includes a gym and a private terrace with a pool.
Did we also say that once you purchase one of the Penthouse Collection units, an Aston Martin DB11 or DBX will become yours? That’s right. And what makes it so much better is that you’ll be able to park your new Aston Martin in the signature garages designed just for your luxury car.
The lower-floor apartments, all of which face the ocean, start at a still-generous 3,600 square feet and $5.525 million, and include access to the building’s members-only community.
Development Information
Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina
Residence Features
Private service entrance at basement level for all move-ins and personnel
Bulthaup custom cabinetry in kitchens
White marble floors throughout the entire unit and porcelain in all balconies
Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
Gagganeau appliances in all residences: (sizes depends on units)
Duravit wall-mounted toilets in all units throughout the building and bidets in select units
All bathrooms feature marble floorings and walls (Thassos or similar
Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
Italian Bertolotto doors with AGB hardware in all units
Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
Floor soundproofing system installed throughout all units including all bathrooms
Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
German Schuco hardware on sliding glass doors
ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
High-speed elevators going up to 1200 feet per minute
High-speed internet and Wi-Fi hotspots in all common areas
Cast iron pipes and risers avoiding Waterflow noises
Amenities
Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with a helipad on the rooftop
24-hour valet and covered garage self-parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators and separate dedicated service elevators
Digital connection to concierge and all building amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space, Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow-dry station, pedicure chair, manicure table, and wash stations
This luxury tower is already 75% sold and continues to sell out quickly. Construction for Aston Martin Residences is expected to be completed in 2022. If you or someone you know have an interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
$30M+ Sold at One Thousand Museum During Art Basel Week; $90M Inventory Loan Paid Off
With buyers from all over the globe and the attendance for Art Basel reaching over 60,000, it is of no surprise that sales for One Thousand Museum would increase.
According to the co-developer of One Thousand Museum, Kevin Venger, “As a testament of the recent success leading to the loan payoff, during Art Week alone, our sales team inked two large sales totaling more than $30 million.”
Another major milestone was the $90 million inventory loan that was secured in March 2021. According to the developers, that loan is officially paid off. Louis Birdman, another co-developer states, “Satisfying our $90M loan in eight months comes during a buying frenzy and Miami’s high season, which we expect to take One Thousand Museum to sellout quickly.”
The late Pritzker-winning architect Zaha Hadid built One Thousand Museum, which was developed by Louis Birdman, Gregg Covin, Kevin Venger, and Regalia Group.
One Thousand Museum is South Florida’s first residential complex with its own rooftop helipad, allowing residents to quickly travel to adjacent islands, private and commercial airports, and private boats.
One Thousand Museum Amenities
A spacious fitness center with state-of-the-art strength and cardio training equipment
Spa with private treatment rooms, steam and sauna rooms, plunge pools, and relaxation lounge
Multimedia theater for private movie screenings, lectures, and presentations
Sun & Swim Terrace with pools, lounge chairs, cabanas, and poolside towel service
Aquatic Center with indoor, infinity-edge pool
Private dining room
Triple-height event space overlooking Biscayne Bay
Private rooftop helipad
Specialized security and valet personnel
Full-service concierge
Bank-quality vault with individual safe deposit box for every residence
One Thousand Museum Residence Features
Custom Italian cabinetry by Poliform
Fine quartz countertops by Silestone
Induction cooktop, oven, steam oven, microwave, dishwasher, and integrated coffee maker by Gaggenau
Refrigerator by Sub-Zero
Faucets and fixtures by Dornbracht, Duravit, and MTI
Interior doors by Lualdi Porte with door handles designed by Zaha Hadid
Custom-designed, Italian-made walk-in closets
Extensive state-of-the-art home automation by Crestron, allowing residents to control a range of in-residence applications including lighting, heating, air conditioning, audio, video, window treatments, and security
Oversized terraces
East-to-west flow-through floor plans
These one-of-a-kind and magnificent condos range in price from $4.95 million to $20 million, and due to the demand of the luxury condo market, availability is restricted.
There are currently 3 furnished developer models left. If you or someone you know have an interest in purchasing one of the One Thousand Museum Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Art Basel Miami Beach Attracts Over 60,000 Attendees
Art Basel returns to Miami Beach with its first ever in-person show in the United States since 2019. With robust sales and exceptional presentations, this show paves the way for years to come. Art Basel’s first show took place on December 2nd, closing on December 4th with reports of brisk sales across all market areas and throughout the course of the exhibition.
The event drew over 60,000 people in total throughout the course of its VIP and regular days with well-known art collectors from 72 countries throughout the United States, Europe, Africa, and Latin America as well as 253 international galleries from 36 countries. In 2019, the art exhibit drew in 81,000 but with the new digital programs, Art Basel could be experienced from the comfort of home.
Through a digital program that includes Online Viewing Rooms, virtual walkthroughs, livestreamed chats, and social media broadcasts that bring the energy and excitement of the show floor to the widest global audience possible. This digital program first tested at the Hong Kong and Basel show with a successful implementation.
According to an Art Basel press release, 44 galleries joined the event for the first time ever, which included Wilding Cran Gallery from Los Angeles, Curro from Guadalajara, Daniel Faria Gallery from Toronto and many more. There were also 4 additional galleries from Africa.
According the Global Director of Art Basel, Marc Spiegler, “This show marks the first truly international art fair to take place in the United States since the beginning of the pandemic. It has been incredible to witness again the energy in the halls and the enormous pent-up demand for seeing, buying, and selling art in person. We featured a much more diverse range of voices than ever before, making this show particularly vibrant and rich in new discoveries.”
Art Basel will be coming back to Miami Beach on December 1st-4th, 2022.
Plans Submitted in Miami for S-Shaped Mixed Use Tower
In 2018, plans for a 60-story mixed-use project located at 1370 NE 2nd Avenue in Edgewater was proposed. The proposal was expected to bring 100,000 square feet of office space, 1,100 residential units made up of condos and rentals, and 1,100 parking spaces. The developer, Cresent Heights purchased the land in March 2017 for $64 million but the project came to a standstill.
Now, alternative plans for the site have been submitted that still would include a large mixed-use complex. The developer for this project will still be Cresent Heights and they will be combining the $64 million dollar property with land owned by the School Board of Miami-Dade.
The 1.13-acre development site will be designed by Rafael Viñoly Architects and the towers themselves will take the shape of an S. The project will include 1,441 residential units, 100,000 square feet of office space (dedicated offices for the School Board of Miami-Dade County), auditorium, 19,673 square feet of office space for Cresent Heights, 5 levels of amenities, and nine levels of parking. The towers will rise 43 stories reaching 649 feet tall.
Amenities:
bowling alley
indoor basketball court
indoor lap pool
indoor running track
management office on the ground floor
9 parking levels (3 public, 6 restricted)
The developer has chosen to have the proposal reviewed by Miami-Dade County under the Metromover Subzone Zoning Standards. The move permits them to avoid the more stringent planning, zoning, and design approval required by the City of Miami.
Chillax: Diesel Wynwood to Include a Sensory Room for Residents to Disconnect
We are constantly seeing innovative and unique amenities in new developments in Miami. Those include helipads, a Dezervator (car elevator), and a “soccer field in the sky.” Now we can add a sensory room to the list thanks to the new pre-construction tower DieselWynwood.
Sensory rooms are environments designed to provide the user with an immersive sensory experience that includes varying lights, sounds, colors, sensory cues to calm, and other sensories that promote emotional and cognitive development. They are intended to assist users in engaging with their senses and reaping the advantages of sensory stimulation in a safe and calm atmosphere.
Sensory rooms have been in the news more recently especially in South Korea with the opening of a sensory cafe near Seoul Forest. According to Insider.com, South Koreans are so stressed that they are paying to visit this indoor sensory room so they can relax and do absolutely nothing for any amount of time they would like.
This cafe known as the Green Lab features floor-to-ceiling glass windows looking out at the lush vegetation of the Seoul Forest. In this room, customers must silence their phones and they cannot speak during the experience. According to a Green Lab employee, Bae Hyum, “It’s so hard to find spaces in Korean society where it’s acceptable to do absolutely nothing.”
As for the newest pre-construction tower in Miami, the Diesel Wynwood sensory rooms will feature restorative seating for relaxation, meditative visual features, and media installations. New information on these sensory rooms is being released every day and we are very excited to fo this newest amenity in a soon-to-be iconic tower in Miami.
