Want to Fly to Miami from London in 5 Hours? American Airlines is Trying to Make it Happen
Thanks to American Airlines’ recent purchase of 20 new supersonic planes, passengers may soon be able to travel from Miami to London in less than five hours.
The agreement between American Airlines and Boom Supersonic to buy up to 20 Overture aircraft, with an option for a further 40, was made public on Tuesday.
With a range of 4,250 nautical miles, Overture aircraft are intended to carry 65 to 80 passengers at Mach 1.7 over water, which is twice as fast as the current fastest commercial aircraft.
According to American Airlines’ CFO, Derek Kerr, “Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers. We are excited about how Boom will shape the future of travel both for our company and our customers.”
According to the business, Overture aircraft might someday travel more than 600 flights around the globe in as little as half the time.
There are several options, such as flying from Los Angeles to Honolulu in three hours or from Miami to London in under five.
With Overture, the world’s fastest aircraft, Boom Supersonic is revolutionizing air travel. Overture was designed for speed, safety, and sustainability. Overture, which will serve both civil and government markets, is built to run entirely on sustainable aviation fuel and will travel twice as fast as today’s airliners.
Overture is expected to debut the Boom Supersonic in 2025 and carry its first passengers by 2029, received its final production design in July.
Plans for a 30 Story Tower in North Miami Beach are Announced by BH Group
After purchasing land in North Miami Beach, developer BH Group is planning a 30-story residential structure located at 2261 N.E. 164th Street.
The 1.96-acre site was sold by CK Prive Group 164 LLC, controlled by Bruno Bloch in North Miami Beach, to the BH Group in Aventura for $11 million. The property increased in value since it was last sold for $8.3 million in 2016.
Currently on the property is a 1969-built warehouse of 35,538 square feet. The warehouse will be destroyed, according to BH Group, and a skyscraper with 400 luxurious residential units will be built in its place.
CFE Architects of Miami Lakes will be the architect for the project.
After the city rezoned a significant portion of its east side to allow for higher density and mixed-use development, North Miami Beach has been experiencing an increase in commercial and residential developments.
BH Group has been purchasing sites all over South Florida. The business frequently collaborates with Miami-based Related Group including District 225 condo in downtown Miami, a condo on Fisher Island, a waterfront condo in North Miami, the Transit Village mixed-use project in West Palm Beach, and condos on Bay Harbor Islands.
Bad Bunny and David Grutman Unveil Gekkō at Grand Opening in Brickell
Thanks to Bad Bunny, David Grutman, and Groot Hospitality, the bustling Brickell district of Miami has new eating alternatives. The world’s most streamed music artist and the restauranteur have officially debuted Gekkō, their new joint venture.
Although the official opening is tonight for the most talked about restaurant in Miami, the exclusive unveiling was last night which included many notables and so much delectable food!
Attendance included David Grutman and Bad Bunny themselves, with special guest Joe Jonas, Sophie Turner, David Beckham, Victoria Beckham, Timbaland, Lil Wayne, Future, Lele Pons, Jake Paul, and Candice Swanepoel. The turntables were taken over by Zack Bia, who played music for the partygoers to dance to.
The Japanese-inspired steakhouse offers the best Wagyu beef in the world along with creative and enhanced sushi options, opulent takes on classic chophouse dishes, brand-new handcrafted drinks, and much more.
In addition to being the name of a dedicated lounge, Gekkō—which translates from Japanese to English as “moonlight”—brings a creative, small nightlife venue to the center of the city’s social scene.
According to Bad Bunny, “Sitting down with friends to enjoy a good meal is one of the moments I value the most. I am thrilled that now I will have a hand in creating this experience for others.”
Gekkō’s menu combines the convivial and well-liked food of a steakhouse with the accuracy and modernism of Japanese cooking. Before moving on to starters, seafood, and steak, this starts with shared dishes, featuring traditional Japanese milk bread and a Kumamoto oyster with “Lava and Ice.”
Lobster dumplings and a creatively updated version of a wedge salad with yuzu buttermilk ranch dressing are two appetizer standouts. Highlights for raw dishes, sushi, and sashimi include Hokkaido Scallops and the novel 24k Otoro, a creation exclusive to Groot Hospitality.
The menu is anchored by a number of exquisite steaks, such as a Tomahawk cut, an olive-fed filet mignon from Kagawa, Japan, and a snow beef strip from Hokkaido, Japan. There are specialty dishes like Wagyu Skirt Steak and a Bone-In Ribeye. A variety of main meals are available, including Daring plant-based chicken, Creamy and Spicy Lobster, and more in typical Groot Hospitality fashion.
Up to 185 diners can be accommodated at Gekkō throughout a lavishly designed, flawlessly integrated indoor-outdoor flow. Rockwell Group, an architecture and design firm with offices in New York City, created the interior.
Gekkō’s charisma and nocturnal ambiance are enhanced by stylistic elements, such as a unique gold and red dip-dyed rope installation, graphic wall coverings, and velvet drapes. At the same time, the air is charged by lighted cuts and bars. Gekkō is located in Miami, Florida, 33131 at 8 SE 8th Street.
The Elser Hotel & Residences Unveiled with Exclusive Party Hosted by PMG and Greybrook
A party celebrating the unveiling of the 49-story luxury condominium tower known as The Elser Hotel & Residences was held on Wednesday, August 3rd, by PMG and Greybrook.
The venue, located in the center of Downtown Miami with unhindered views of Biscayne Bay, offered visitors infinite champagne, a live band, and interactive entertainment. The PMG Residential sales team, comprised of Alejandra Castillo, Christian Tupper, Daiana Quiceno, Aura Aragon, and Karine Carvalho, as well as PMG Managing Partner Ryan Shear, made remarks.
The Elser Hotel and Residences are located in the same lively area and have the same sparkling views of Biscayne Bay that Elser Pier did in the early 1900s. Elser Pier’s prime location in Miami’s thriving downtown area contributed to its status as the city’s top convention and entertainment hub. Tourists and locals alike were drawn to the pier’s variety of venues and waterfront views. The legacy and extraordinary success of Elser Pier altered the future outlook for the corridor and created the foundation for the bustling bayfront metropolis we know today.
The Elser Residences Miami is a development of carefully designed studio, one-, two-, and three-bedroom condos. Elser, located in Miami’s most alluring area, Downtown Miami, will provide a vibrant and rich community fuelled by culture, glitz, and wellness. Find a wealth of amenities for living, working, and playing. Units will be available this summer for move-in.
Facts and Features
49-story tower located in Downtown Miami
Developed by PMG and Greybrook Partners
Designed by internationally renowned architecture firm Sieger Suarez Architects
Approved for short-term rentals
On-site hospitality management
Views of the Miami skyline, unobstructed views of Biscayne Bay and the Atlantic Ocean
Over 19,000 square foot double-height amenity deck overlooking Downtown Miami
and Biscayne Bay
132-Foot Resort Style Pool with private lounge areas
Two-Level Modern Gym & Fitness Studio
Co-working Lab
Valet Parking
Electric Vehicle Charging Stations
Latest Smart Building Technology
Only The Elser Hotel & Residences Miami would have a short-term rental program that was expertly run by a five-star operator among the current inventory in Miami. The structure would be open to unlimited day rentals.
Residences start at $600,000 or the equivalent in bitcoin, according to PMG Residential, the property’s exclusive sales team.
Famous NYC Restaurant Rao’s Opening Soon in Miami Beach
The iconic New York City eatery Rao’s, noted for both its exclusivity and its red-sauce cuisine, is establishing a presence in Miami Beach and we can’t be more excited to try it!
The Pellegrino family’s Italian restaurant is slated to launch at the Loews Miami Beach Hotel at 1601 Collins Avenue in the first few months of 2023. Rao’s will be replacing the ground-floor restaurant Lure Fishbar.
The original Rao’s is located in Harlem, New York, and is known for turning away notables due to the difficulty of reserving tables. Rao’s also has a location in Los Angeles and their location in Las Vegas was closed last year. Rao’s is run by Frank Pellegrino Jr. and Ron Straci
Frank Jr. is the 4th generation owner of Rao’s and since his undertaking of the restaurant, he has created a family brand of sauces, pasta noodles, and soups that can be found in your local groceries.
The restaurant recently ran a pop-up at David Edelstein’s W South Beach hotel while shopping for a location to set up shop.
The 790-key hotel is owned by the Tisch family, which is headed by Loews chairman Jonathan Tisch and had housed renowned chef Emeril Lagasse’s eatery.
The most recent New York restaurant chain to open a location in Miami is Major Food Group’s Carbone in South Beach. Since then, the company has had fast growth throughout Miami and in Boca Raton. Additionally, Pastis is anticipated to debut at an Edelstein property in Wynwood.
Locally, other restaurants and hospitality chains like Casa Tua and Cipriani are also growing. The NoMad Residences in Wynwood, developed by Edelstein, Related Group, and Alex Karakhanian, will soon welcome Casa Tua.
Seven months after breaking ground, the Edgewater twin-tower apartment building known as URBAN 22 has officially topped off on construction. The developer for the project, the Melo Group is a well-known development group in the Miami area. After completing 6,000+ residential units in Miami over the years, they currently have 2,000 units under construction.
Multiple parcels making up the 1.94 acre site stretch’s from Second Avenue, 22nd Street, to 23rd street. The Melo Group started purchasing these sites in 2011 that is now making up the site for URBAN 22.
The project call for twin 15-story towers that will total 708,119 square feet with an 8-story podium connecting between the two. The towers will feature 441 residential units, 7,168 sq. ft. of retail, 5,692 sq. ft. of office space, and 529 parking spaces.
The units will range from 725 to 1,200 square feet of living space with each unit featuring a private balcony with glass surround railings. There are 4 studios, 243 one bedroom, 152 two bedroom, and 42 three bedroom units available.
The garage will feature a pool deck on the roof, indoor/outdoor spa, garden terraces, and a fitness center with a social room for gatherings. The Melo Group stated that project would enhance the pedestrian experience through the bridge between the two buildings as well as the retail and commercial aspects.
Developers File Coastline Review for a 30 Story Mixed Use Tower
In North Bay Village at 1755 Kennedy Causeway, B Developments under the LGE NBV, LLC submitted a request to Miami-Dade County for a coastline review. Arquitectonica was hired by the developer to create a mixed-use structure that would be 345 feet tall, 30 floors tall, and directly face Biscayne Bay.
Due to the property’s frontage on Biscayne Bay and its compliance with Article III, Section 33D of the Miami-Dade County Code of Ordinances, the application is necessary. The coastline setback and side setback are subject to variance requests from the developer. A structure with 30 floors must be 75 feet away from the main shoreline and 25 feet away from the side shorelines, according to the County Code’s setback requirements.
The property can’t be developed strictly in accordance with the criteria due to the tower’s height, the property’s size, and the lot’s proportions. To build in compliance with the site plans, the setback from the beach would have to be decreased to 25 feet, resulting in a 50-foot variance.
The developer is offering to construct a public bay walk behind the property along Biscayne Bay as leverage to get the variances allowed for the project because the County standards cannot be met. On the plus side, the proposal complies with the 2020 Island Walk Design Criteria as well as the North Bay Village Unified Land Development Code.
According to floor designs submitted in February 2022 to the North Bay Village Planning & Zoning Board, the distinctive two-story waterfront restaurant would occupy 19,455 square feet of area between the ground floor and mezzanine level. From the mezzanine level to floors 2 through 5, 8 and 9, the majority of the west podium would be occupied by offices. There are five storeys of parking on the podium’s remaining surface.
On the 6th and 7th floors are the residential amenity levels, which have a landscape deck with three pools, barbecue spaces, fire pits, kids’ splash pads, party lounges, residential lounges, game rooms, sky lobbys, and fitness centers. On the south and west sides of the sixth level, there will be a separate amenity deck that the office tenants can use.
BuildingPlans Description
473,252 square feet project
201 residential units
32,654 square feet of amenities
19,455 square feet for a 2-story restaurant with a waterfront terrace
1,860 square feet of office space
408 parking space in a parking structure podium
The landscape architect is listed as Arquitectonica and the civil engineer as Kimbley-Horn.
Residential units would start on the 10th level and range in size from 670 to 2255 square feet, including 104 one-bedroom, 83 two-bedroom, 8 three-bedroom, and 6 four-bedroom units.
Ken Griffin’s Citadel Continues to Purchase Land and Properties in Miami
With a record-breaking purchase on the South Florida waterfront months ago, Ken Griffin has officially moved the Citadel’s headquarters from Chicago to Miami at the 830 Brickell new construction tower.
Along with the move and the purchase of a private residence, Griffin and his company were responsible for the $363 million acquisition of a 2.5-acre (1-hectare) unoccupied land at 1201 Brickell Bay Drive. Since the transaction closed in April, the buyer was hidden behind a limited liability company with a mailing address in Chicago.
The company announced last week that it intends to collaborate with developer Sterling Bay to design and construct an office tower on Brickell Bay, which is located in the city’s economic district and spans less than a mile.
Another LLC purchased a 28-story office building at 1221 Brickell Avenue earlier this month for $286.5 million across the street from the 1201 Brickell Bay site, according to public papers. Randall Davis, who also acted in this capacity for the 1201 LLC, is the authorized signatory for the 1221 Brickell LLC. Emma Bass and Angela Cusumano, the witnesses in a 1221 Brickell filing, also work at Sterling Bay.
The relocation of Citadel by Griffin represents one of the largest financial company expansions in Florida. Developers in Miami applauded the decision and said it would encourage more businesses to look for space in the city. Among the companies that have grown in the state recently are Dan Sundheim’s D1 Capital Partners and Goldman Sachs Group Inc.
According to the Bloomberg Billionaires Index, Griffin, 53, just relocated to Miami with his family and has a personal wealth of $29.1 billion. He has recently expressed his dissatisfaction with the governmental leadership in Illinois and Chicago’s crime rate, although he has long been investing in real estate in Florida, where he was born and raised.
Over the past ten years, the millionaire has amassed property in Palm Beach that has cost at least $350 million. During the Covid-19 epidemic, some of Griffin’s traders fled their offices in Chicago and New York and took over the Four Seasons Palm Beach.
Griffin recently purchased a number of properties in the Miami area, including homes on the prestigious Star Island in the middle of 2020 and a $45 million mansion in the Coral Gables district in April. An individual with knowledge of the situation claims that he has had Citadel personnel assess the commercial real estate in the city for at least two years.
Plans for a 12 Story Tower in Surfside was Filed
This week, developer Multiplan of South Florida filed plans for a 12 story tower that will be located in Surfside.
The architect is listed as Arquitectonica with R Palace Surfside LLC as an additional development entity. The project is proposed to have 27 residential units with 71 parking spaces. There will also be a small number of 2 bedroom floor plans but will mostly consist of 4 bedroom layouts.
Proposed Amenities:
Rooftop pool
Steam room
Sauna
Fitness
R Palace Surfside LLC is managed by Vivian Diamond. Owner of Multiplan is José Isaac Peres who is responsible for 57 Ocean as well as multiple other projects in Rio de Janeiro.
On the current site at 9309 & 9317 Collins Avenue in Surfside is the Regent Palace condos. In June, the 34 unit condo building was deemed unsafe after a comprehensive engineering report that flagged the property as uninhabitable.
This building is 70 years old and required a number of updates as well as structural issues. The developer has already purchased 32 of the 34 units at the Regent Palace and terminated the land lease on the property.
Chicago Hedge Fund Citadel Establishes New Headquarters at 830 Brickell Tower
Less than two months after announcing that he was relocating the Citadel hedge fund from Chicago to Miami and planning to establish a new headquarters, billionaire Ken Griffin signed a significant lease for the company’s premises at 830 Brickell.
Citadel signed a long-term lease for about 95,000 square feet at the 55-story tower at 830 Brickell Plaza, according to people familiar with the arrangement. The skyscraper is being developed by Vlad Doronin’s OKO Group and Cain International, and the asking rates there have reached $125 to $150 per square foot.
Two leases at $130 per square foot are being negotiated, according to a second source, and recent full-service leases have been completed at $110 to $120 per square foot, making the Citadel’s deal ranging from $10.5 million to $11.4 million a year.
According to Justin Oates, SVP at Cain, OKO, and Cain anticipate finishing 830 Brickell within the next six months, with tenants moving in sometime next year.
Griffin revealed in June that Citadel and financial services company Citadel Securities would relocate their corporate headquarters from Chicago to Miami. The choice was made at a time when Miami has developed over the previous 15 months into a destination for the relocation and growth of out-of-state financial firms.
A 2.5-acre bayfront development site at 1201 Brickell Bay Drive has been purchased by Citadel, according to the information originally published by Bloomberg and confirmed by sources to TRD. In April, that transaction concluded for a record $363 million. Citadel may also be related to the $286.5 million acquisition in June of the 28-story office building at 1221 Brickell Avenue, which is across the street. The acquisitions have not been confirmed or disputed by Citadel.
Approximately 70% of the 640,000 square foot 830 Brickell building is already leased, a representative for the development team said.
Sidley Austin, a legal firm with offices in Chicago, acquired 60,000 square feet over three floors in July.
Sidley Austin, a legal firm with offices in Chicago, acquired 60,000 square feet over three floors in July.
Canadian asset manager CI Financial doubled its original lease signed last year to about 40,000 square feet in January.
Between late last year and this summer, other large tenants included the IT behemoth Microsoft, the insurance and financial services company A-CAP, and Marsh, the insurance division of Marsh & McLennan Companies.
Thanks to American Airlines’ recent purchase of 20 new supersonic planes, passengers may soon be able to travel from Miami to London in less than five hours.
