Inter Miami Receives Approval for Miami Freedom Park
David Beckham has finally won after a 9 year-long battle, for a land lease for a Major League Soccer stadium in Miami. On Thursday, Miami Commissioners voted a 4 to 1 lease for 73 acres of city-owned property that will house a massive development to host the Inter Miami soccer games. Beckham and partners (Jorge and Jose Mas) were awarded a 99-year lease to develop the new name, Miami Freedom Park.
The plan for the ‘park’ would convert the Melreese golf course into a soccer league stadium that could host 40,000 attendees, retail shops, parking with rooftop fields, a hotel, and a 58-acre park. The plans also include sharing the stadium with the University of Miami Hurricanes football team.
With the vote approval came some changes, which include the annual rent increase from $3.57 million to $4.3 million, with a 6% gross revenue if that figure is treated than rent. The construction fee was raised from $500,000 to $650,000 18 months after the lease was signed, with another $100,000 rise per year for four years and a $1 million penalty in the fifth year if the stadium was not completed.
The vote for this development has been delayed 4 times and there still needs additional approval for zoning changes before they receive the green light for the project, which will take place in quarter 4 of 2022.
Also in attendance was Miami Mayor, Francis Suarez, who seemed to thank the Miami commission after the deal. He strongly supported the project from day 1, “I have never been prouder to be a Miamian than I am today. No matter how difficult, how long, how frustrating, good days and bad days, I always knew that this would happen.”
Beginning May 3rd, Supercar Rooms Miami will be hosting the Miami GP Week, an action-packed week of everything cars celebrating the automotive industry and culture right before the Formula 1 big race. Located in the heart of Miami’s Wynwood at 2022 NW 1st Court, Supercar Rooms Miami is the world’s first member’s only art gallery dedicated to automotive visionaries and interactive experiences.
Elo, the British-born automobile genius, founded and established the company Supercar Rooms Miami. Elo began to amass his own car collection, a desire that developed from a childhood curiosity and admiration for motors. His collection developed to include a vehicle for every mood and occasion.
Elo has been a vehicle collector for over 30 years and is a true automotive aficionado. Presenting on DAVETV’s ‘Modern Wheels or Classic Steals,’ HISTORY UK’s ‘Ultimate Wheels,’ and MTV’s ‘Slips.’ Elo has established himself as a leader in the custom/classic automobile field.
Supercar Rooms Miami is home to one-of-a-kind masterpieces including the 1929 Rolls Royce Bootch, 1961 196 SP Ferrari antique racing car, 2007 Shelby Supercar Ultimate Aero TT vehicle number 1, 1958 450 S Maserati vintage racing car, and 1955 SL 300 Mercedes Gullwing, to mention a few.
Now that Formula 1 is coming to Miami, Supercar Rooms Miami is hosting Miami GP Week. Supercar Rooms Miami invites car aficionados to join them for an incredible week-long event filled with planned activations each day to commemorate the automotive culture that has a stronghold in South Florida.
In collaboration with headline sponsor, IWC Schaffhausen and Crypto sponsor Solana, E11EVEN Vodka, Exotics on Las Olas, and Sunreef Yachts, and
Supercar Room Miami’s Schedule:
May 3– Paddock Orientation Meal- An introduction dinner presented by Supercar Rooms Miami in which a special cuisine is developed and served as you network and enjoy the night among the car community. You will get all of the details and special events for GP Week.
May 4– IWC watchmaker private session- Enjoy lunch at an award-winning Michelin-starred restaurant in Miami’s Design District and be immersed in the world of IWC Schaffhausen. A private Watchmaking lesson will introduce you to the world of high-end Swiss accuracy and workmanship.
May 5- A parade of supercars will cruise down to the Florida Keys for a 60-mile journey. Enjoy a delicious summer lunch while being treated to an exclusive IWC reveal.
May 6– Checkered Flag- The official kick-off celebration for the Miami Grand Prix is preparation for one of Miami’s greatest races. Get ready for a night filled with supercars and the theme of the night is all-access, with special guests in attendance.
May 7– Formula One qualifying day at Hardrock Stadium-From 11:00 a.m. until 4:00 p.m.
May 7-The first-ever Fabio Lamborghini Lifestyle US Store on Lincoln Road celebrates its grand opening. The event will run from 2:00 to 4:00 p.m. This is a private, invitation-only event.
May 7-8– Fabio Lamborghini Miami GP Week Fanfest takes place on Lincoln Road in Miami Beach. 11:00 a.m. to 6:00 p.m. The fanfest is free and open to the public, and it commemorates Lamborghini’s F1 history, which dates back to 1991. Come view Lamborghini’s, both vintage and modern collections.
May 8– Holman Fanfest Experience: From 11 a.m. to 6 p.m., join the Holman family of dealerships next to their luxury flagship dealership in Sunrise, Broward for a day of food, family-friendly entertainment, and all the spectacular action from the racetrack.
May 8– Supercar Rooms on Race Day Miami has leased many suites at Hardrock Stadium, where its members will witness the inaugural Formula One race in Miami.
In addition, Supercar Rooms Miami will provide its members with Red Bull Beach grandstand access to the man-made beach as well as cabanas. This will be a fantastic experience since it will blend Formula 1 racing with a regular day on the beach in Miami.
Calta Group Purchases Hollywood Development Site for $9.5 Million
A new apartment development could be in the works in downtown Hollywood. The Calta Group recently purchased the site located at 2215-2239 Hollywood Blvd for $9.5 million.
The 1.6-acre site was sold by Hollywood Construction & Development LLC which is managed by Joseph Horn of Miami. The same company purchased the site just late year in May 2021 for $7.7 million.
Several retail and office buildings currently occupy the site and would need to be demolished once the project is approved. The Calta Group, which is led by Ignazio, Gaetano Caltagirone, and Igor Blatnik plans to develop an 8-story apartment tower. The tower itself would feature 180 units and 1,800 square feet of ground-floor retail space.
The original design was proposed in 2019 by Borges Architects + Associates who would remain the lead for the project.
Amenities:
Pool deck
Business center
Gym
The groundbreaking will be scheduled for the 4th quarter of 2022 but the Calta Group still needs to select a general contractor for the project.
The Calta Group continues to make headway in Hollywood with their total construction projects reaching $1.5 billion.
Melo Group Tops Off on Downton 1st Tower
Downtown 1st, a 57-story mixed-use tower located in downtown Miami has officially topped off on construction just one year after its groundbreaking. Developed by the Melo Group, this tower is set to be the tallest that the developers have ever constructed.
According to Martin Melo, “After just a year from breaking ground, we are proud to top off. Downtown 1st is another project that showcases our compromise of enhancing Miami’s urban core and the continued activation of downtown Miami.”
Located at 30 SW 1st Street, Downtown 1st will spread over 743,073 square feet which will include 560 units (500,000 square of residential space), 12,930 square feet of office space, 2,925 square feet of ground floor retail and a 453 spot parking garage.
The units themselves will feature 1 to 3 bedroom layouts with penthouse options located on the top 2 floors of the tower. Units will range from 653 square feet to 1,200 square feet.
Amenities:
2 swimming pools
Landscape deck
Fitness center
Study rooms
Lounging areas
Spa
Completion of the tower is expected to be complete by the 4th quarter of 2022.
Melo has amassed a portfolio of over 6,000 condominium and apartment rental properties in the greater downtown Miami area since 2001. All construction and architecture are handled in-house by the fully integrated real estate development organization.
Sales Launch for Society Residences in Downtown Miami
In the heart of downtown Miami, sits a new construction site of an up-and-coming tower developed by PMG. Society Biscayne was originally announced as an apartment tower but recently the developer decided to transition the apartment tower into residential units due to the lack of inventory in Miami. Now the property is officially Society Residences.
The construction for the 704 unit tower is currently underway at their site located at 398 NE 5th St in Miami. Rising 47 stories (571 feet) tall, units will be presented as fully finished and fully furnished with luxury amenities and outstanding water views.
Visionaries
Developers: Property Markets Group (PMG) and Greybrook Partners
Architect: Sieger Suarez Architects
Interior design: Cotofana Designs
Building Features
47-story tower located in Downtown Miami
Designed by internationally renowned architecture firm Sieger Suarez Architects
Views of the Miami skyline, unobstructed views of Biscayne Bay and the Atlantic Ocean
Modern Residential Lobby with 24/7 Concierge
Electric Vehicle Charging Stations
Features the Latest Smart Building Technology
Destination Controlled Elevator Dispatch
Smart Package Lockers
Custom Society Residences app, linking residents to concierge services and building amenities- Digital Key- Guest Access- Payments- Package Deliveries- Messages from Management
Dry Cleaning & Laundry Service Lockers
Access-controlled entry points throughout
Valet Parking
Amenities
Lobby with Cocktail Bar and Restaurant by Jaguar Sun®
Over 19,000 square foot double-height amenity deck overlooking Downtown Miami and Biscayne Bay
Curated art and green walls throughout all common areas
132-Foot Resort Style Pool with private lounge areas
16 ft Poolside Screening LED Wall
Lawn with Theater
Sky Entertainment Lounge & Grilling Terrace featuring eight grills
Fully-furnished studios, 1, 2, and 3-bedroom residences
9’2” ceiling height with floor-to-ceiling windows
Balconies with stunning views of Biscayne Bay and the Miami city skyline
Porcelain wood-grain tile flooring throughout
Built-in full-size washer and dryer(in select residences)
Ecobee smart thermostat
Smart keyless entry
Pre-wired for high-speed communications, multiple telephone lines, and cable
Custom kitchen cabinetry by Italian design house Italkraft
Quartz kitchen counters
Frigidaire stainless-steel appliances including microwave, dishwasher, freestanding range oven, and refrigerator
Frameless glass-enclosed showers
Custom Italian vanities by Italkraft
Modern matte black kitchen and bathroom fixtures
Fully built-out California-style closet
Pricing:
Studios from $600K
One bedroom from $800K
Two bedrooms from $1.4M
Three bedrooms from $1.4M
The building is still under construction but the TCO is anticipated to be received by the end of June.
If you or someone you know have any interest in purchasing at Society Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Tibor Hollo’s Record-Breaking Sale and the Development of Miami’s Brickell
Florida East Coast Realty, owned by Tibor Hollo just sold a Miami Brickell development site for a record price, $363 million, to a company in Delaware under the name Florida LLC. The sale price equated to around $3,340 per square foot or around $145 million per acre.
The 2.5-acre site itself is located at 1201 Brickell Bay Drive and has been in limbo for a major development to come in and utilize the property. It is currently approved for 2 supertall towers rising 1,049 feet tall.
The original plan also included 1,120 residential condo units with underground parking and a walkway connecting the two towers. This project itself was referred to as Villa Magna and was proposed in 2006-07 but was later canceled in 2007.
Florida East Coast Realty, Corigin Real Estate Group, and McCourt Global Properties originally planned the 2 tower development with British architect Foster + Partners.
The buyer LLC (Florida LLC) was created in March 2022 and is managed by Randall Davis, a Houston developer. Although listed as a Delaware company, Randall Davis has a Chicago address.
According to county records, Florida East Coast Realty paid $15.5 million for the property in 2000. The current acquisition outperforms the previous record price for the property, established in 2011 when Genting Group paid $236 million for a 14-acre site that was the longtime home of the Miami Herald in downtown Miami’s Arts & Entertainment District.
Tibor Hollo is an American real estate developer and founder of Florida East Coast Realty. Hollo was born in Budapest, Hungary, and obtained his degree in architecture from Ecole Polytechnique Institute before immigrating to the United States with $18 in his pocket.
Before becoming a big name in real estate, he worked at a curtain factory and shortly after became an estimator for a general contractor. He worked at a curtain factory before landing a job as an estimator for a general contractor. During this work, he noticed that a lot of contractors were turning down jobs in New York so he started his own firm. In 1956, on a business trip, he fell in love with South Florida and then sold his contracting company and moved to Miami. He later founded East Coast Realty in 1972.
According to his biography, Hollo only works on one project at a time and never borrows more than 40% of the cost of the project. Hollo is responsible for the creation of the Vizcaya Tower, Opera Tower, Biscayne Bay Marriott, and the Panorama Tower.
PMG Proposes a Two Tower Development with 803 Condo Units in Miami’s Brickell
New Tower by PMG Developers Announced
Property Markets Group, also known as PMG Developers has submitted designs for a twin-tower development with 803 residential condo units in Miami’s Brickell Financial District.
The proposed site will be located at a 1.15-acre property at 102, 106, 120, and 130 S.W. 8th St.; 826 S.W. First Ave.; and 101 S.W. 9th St, a block north of the Brickell Metrorail Station, on the west side of the Metrorail lines.
The property is under contract with PMG from Miami-based businesses 120 SW 8th Street LLC, 130 S.W. 8th Street LLC, Brickell Motel LLC, and King Condo 3B LLC (investors associated with the property). The site currently features a three-story office building with 15,560 square feet and a 4-story residential complex with 16 apartments, which would both be destroyed to make space for the project.
The building is anticipated to span over 1.5 million square feet between the 2 towers which will be connected by a parking podium. The north tower will rise 46 stories (550 feet), and the south tower will rise 31 stories (380 feet). The parking podium will contain 832 parking spots and 15,791 square feet of commercial space.
As of right now, the average unit size is expected to be 841 square feet. The current amenities for the project include multiple pool decks on the 13th, 31st, and 39th floors. There would also be a sky bridge connecting the buildings on the 31st floor.
The project will be designed by Sieger Suarez Architects. PMG is well-known for some of the city’s most significant projects, including the Waldorf Astoria Residences Miami. PMG has already filed the plans with the city and county.
Fortune International Group and Blue Road Group Announces Nexo Residences in North Miami Beach
Nexo Residences, a 254-unit condo building with no short-term rental limitations in North Miami Beach, has been launched by Fortune International Group and Blue Road.
The proposed site is located at 13899 Biscayne Blvd., with Blue Road of Bay Harbor Islands and Fortune of Miami having a deal with Aventura-based Tomaja LLC for the 1.74-acre site. Currently on this site is a 36,661-square-foot office structure, built-in 1958, which would be removed.
Nexo Residences, according to the developers, will be the first condo in North Miami Beach to allow short-term rentals. Some investors choose short-term rentals as a method to supplement their revenue by offering properties on home-sharing services like Airbnb.
According to the President and CEO of Fortune, Edgardo Defortuna, “Nexo Residences will serve as the premier short-term rental offering in North Miami Beach, an area that has been underserved in the hotel and rental products; most projects of this kind concentrate in downtown Miami and Brickell.”
The Nexo’s 15-story units would vary from 525-square-foot studios to 2,190-square-foot townhouses pricing beginning in the $400,000s.
Residence Features:
Fully finished
Floor-to-ceiling windows
Porcelain flooring
Built-in bedroom closets
Dedicated lockable owners’ closets
Expansive balconies with glass railings
European style kitchens
Quartz counters
Matte black fixtures
Smart key access
Self-service package system
Amenities
Lounge
Tech hub with a café and coworking space
Playground
Clubroom
Fitness center with a yoga studio and virtual trainer
Rooftop observatory deck
Pool deck
2 Spa pools with loungers
Private event area
The project will be designed by Frankel Benayoun Architects with landscapes and interiors by Urban Robot. According to the press release, Fortune International Group and Blue Road hope to break ground by the end of 2022.
Largest Polo Event in the World Heads to Miami-World Polo League Beach Polo World Cup
Eight International teams, 10 nations, and 120+ horses come together for one weekend on the gorgeous beaches of Miami Beach for the largest Polo event in the world. Starting April 29th through May 1st, each day will feature high goal matches with some of the best players in the world all produced by Lifestyle Polo.
Located on the beach of Collins Park spanning over 140 meters, this event draws in around 12,000+ visitors. General admission is complimentary but you can upgrade to VIP tickets which include shaded lounges, catering, and a full bar.
According to Tito Gaudenzi, founder of the World Polo League Beach Polo World Cup, “We are thrilled to return this April with our annual World Polo League Beach Polo World Cup, Miami Beach. The competition between the teams and individual players will no doubt be as intense as ever.”
Schedule:
Wednesday – 27th of April 2022
6 pm – Game Draw (Live on ChukkerTV)
Thursday – 28th of April 2022
5 pm – Team & Sponsor meet and greet hosted by St. Moritz and Eviva Polo – In the VIP tent of the Polo grounds (by invitation only)
Sponsors include The Setai South Beach, Land Ro9ver, Casablanca, World Polo League, Richard Mille, Ketel One, Delta Airlines, 1 Hotel South Beach, Soho House, Haig Club Whiskey by David Beckham, and more.
JMH Development to Build 7 Story Luxury Tower in Miami Beach
The long-awaited Miami Beach condo project by JMH Development can finally move forward after the lawsuit against the developer was dismissed. The lawsuit included the actual condo site where the plans for this new tower would be constructed.
The project has been put on hold for 5 years due to a dispute between the original partnership of Jason Halpern (Managing Partner for JMH Development) and companies owned by Dhruv Piplani. In 2017, Piplani filed suit again Halpren and accused them of selling the property without permission of the co-investors.
When originally purchased, the property was purchased for $7.75 million by 29 ICD LLC, managed by Gerard Longo, who is noted as a longtime business partner of Halpren.
To add fuel to the fire, in 2020, Halpern filed for a $5.25 million mortgage foreclosure against the property. The original case was dismissed due to a breach of contract because PSB Indian Creek failed to make the $800,000 contribution toward the project in 2016.
According to Halpren, “In addition to Justice Masley’s ruling in favor of JMH Development across the board, the court awarded our client attorneys’ fees. This is a big win for our client, and demonstrates the egregious nature of the claims made against them.”
The project itself will be located at 2901 and 2911 Indian Creek Drive in Miami Beach. It is approved to rise up to 7 stories with 22 luxury condo units. The property itself will have to stay under 17,150 square feet and will also feature a rooftop pool, as well as a parking garage for 22 cars.
