Sales Officially Launch for 21-Story Tower Shoma Bay Condos in North Bay Village
At a North Bay Village property it purchased earlier this year, Shoma Group is changing its plans from apartments to residential condos.
Shoma Group, led by Chairman Masoud Shojaee and President Stephanie Shojaee, is beginning sales of the Shoma Bay condos, with prices beginning in the $400,000s. ISG World, led by Craig Studnicky, was chosen by the Coral Gables-based developer to handle the units’ sales and marketing.
Shoma Bay will be a mixed-use development with 21 stories and 327 residences on a 2.8-acre plot of land.
In May, Shoma paid nearly $16 million for the property at 1850 79th Street Causeway with plans for a Publix-anchored residential and retail complex. The project, which includes a 36,000-square-foot Publix and around 6,300 square feet of retail space, including a rooftop lounge and a food hall called Shoma Bazaar, was approved by North Bay Village in March.
Condos are replacing rentals as South Florida’s rent growth finally starts to slow down. Similar adjustments have been made by other developers. A new rental skyscraper in downtown Miami was converted to a condo tower in July by Property Markets Group and Greybrook, and is currently known as The Elser Hotel & Residences.
The Shoma Bay will have apartments ranging in size from 360 square foot studios to roughly 1,500 square foot three bedroom condos. According to a spokeswoman, the average cost per square foot for all units is around $900.
Building completion could happen in the latter half of 2024, with construction set to start early next year. The interiors are being designed by Adriana Hoyos, with MSA Architects serving as the project architect.
There will include a lounge, bar, spa, gym, pool deck, library, and kids’ club among the amenities. A 2,600-square-foot co-working area and electric vehicle charging stations will also be included in the structure.
If you or someone you know have an interest in purchasing at Shoma Bay Condos, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
St. Regis Residences Sunny Isles Beach Reaches $700 Million in Sales in 6 Months
The St. Regis Residences, Sunny Isles Beach, Miami’s developers are pleased to report that sales of the exquisite property have exceeded $700 million in just six months, reflecting the overwhelmingly positive response it has received from buyers worldwide.
The St. Regis Residences, Sunny Isles Beach, envisioned as a private residential resort with a vast array of health, culinary, and entertainment services totalling over 70,000 square feet, is poised to be the tallest residential structure on the ocean in South Florida.
In a magnificent location, where skyline-defining architecture, avant-garde design, impeccable craftsmanship, and hallmark St. Regis service and rituals combine to offer a singular experience of seamless luxury.
The two towers will be referred to as the north and south towers. The south tower will have 194 units that range from 2 to 4 bedroom floor plans including a selection of penthouses. The North tower is planned to feature 180 residences but sales will launch at a later date.
Residence Features:
Spacious floor plans boasting unobstructed ocean, city, and Intracoastal views
Ceiling heights clearing 10ft in regular units and 12ft in penthouses
Fully finished with flooring and closets
Private elevator and entry foyer in all residences
Service elevators
Italian designed kitchens with Quartz countertops
Miele appliances including wine cooler
Walk-in closets in all primary bedrooms
Laundry rooms with full-size washer and dryer
Smart home technology ready
Service quarters in select residences
Full floor residences with spacious floor plans
East and West terraces with pool on the east
Spacious terraces with luxurious private pool and jacuzzi
Summer Kitchen
Custom-designed Italian cabinetry
Graciously appointed primary suits and separate service quarters with separate entrance
Stunning, 360-degree views of the Atlantic Ocean and Intracoastal Waterway
Indoor BBQ
Indoor/Outdoor living space
Tower Amenities:
Managed by the St Regis Hotel Company, without hotel premises.
Grand entry driveway and 2-story porte-cochere
Impressive two-story lobby
10 Guest Suites per Tower
Concierge Services
Pet-friendly and much more
Private beach facilities
Oceanfront and sunset pools
A signature restaurant
Wellness center
Spa
Athletic club
The construction plans show 1,000 parking spots available for residents and the starting price for units begins at $3.5 million. The project is expected to begin in 2023 and be delivered in 2026.
If you or someone you know have an interest in purchasing at St. Regis Residences Sunny Isles Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
In July 2022, the developers, Mast Capital received approval from the FAA for the height allowance for the towers. On September 9, the contractor Moss Construction applied for a foundation work permit.
A second permit was filed on September 12th for the other 2 towers for foundation work. The county also issued a dewatering approval that is needed for the foundation work as well. Dewatering would include the removal of groundwater as well as from surface area.
Cipriani Residences Miami will feature 3 luxury towers spanning over 2.8 acres, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
The largest Cipriani tower will rise 80-stories and will feature 397 one to four-bedroom units with views of Biscayne Bay, Brickell skyline, and Simpson Park. The 2 smaller towers haven’t been revealed yet but will rise 59 stories and 50 stories tall.
Mast Capital paid $103 million, marking this transaction as one of the largest in Miami-Dade in 2021.
Cipriani is currently working with Mast Capital and Arquitectonica to bring this luxury building to life. Not only will the tower feature luxury amenities, but each residence will offer custom finishes and gorgeous designs.
Residence Features
• Generous living areas with ceiling heights of 10 feet • Floor-to-ceiling sliding glass doors and windows with magnificent panoramic views • Terrace access from the living room and primary bedroom of every residence • Gracious walk-in wardrobes in every primary bedroom • An exquisite selection of flooring options included • Direct elevator entry for select residences • Eat-in, open kitchen with custom Italian cabinetry inspired by Cipriani’s renowned style • Top-of-the-line appliances from Wolf Sub-Zero, including cooktop, integrated refrigerator, freezer, wine cooler, and dishwasher • Primary bathrooms with grand, stand-alone bathtubs and glass-enclosed showers; vanities with premium Italian cabinetry, imported stone tops, back-lit mirrors; separate room with water closet • Spacious laundry rooms with full-size washing machine and dryer, with a utility sink in most residences • Individually controlled, high-efficiency central air conditioning and heating systems, with linear diffusers in main areas to ensure seamless integration • Innovative smart technology infrastructure that enables home automation • Intelligent interface system for essential building services such as concierge, valet, and security
Cipriani has disclosed that the residential tower would have sophisticated, resort-style amenities for its inhabitants, as well as traditional design features popular at Cipriani restaurants worldwide.
Tower Amenities
• Exclusive private entrance with lush landscaping and elegant porte-cochère • Dramatic lobby leading to two banks of high-speed, touchless elevators • Signature private dining experiences by Cipriani • In-home dining and 24-hour catering services by Cipriani, exclusive to residents • Private dining rooms available for reservation, catered by Cipriani • Elevated resort deck with two swimming pools, a blissful outdoor spa, poolside cabanas, and a beautifully landscaped sun terrace • Poolside food and beverage services catered by Cipriani • Holistic spa with sauna and treatment rooms • Luxurious residents’ lounge for special events and intimate gatherings • State-of-the-art fitness center • Golf simulator • Pickleball court • Private salon available to be reserved for personal beauty services • Screening room with cutting-edge audiovisual equipment • Serene and spacious residents’ library • Engaging children’s playroom • Elevated four-level wellness center and lounge overlooking the Brickell skyline • Pet-friendly community with dog park • High-speed internet access across all public areas • Electric vehicle charging stations available • Air-conditioned storage rooms
If you or someone you know have an interest in purchasing at Cipriani Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
PowerHouse Marina in North Miami Sold for $10.1 Million to Fontainebleau Development
PowerHouse Marina located in North Miami at 13255 Biscayne Blvd was purchased by Jeffrey Soffer’s Fontainebleau Development for $10.1 million.
The seller of the property is listed as David A. Marcus who originally purchased the property in 1995 for $912,500. The property originally opened in 1980 and sits on a canal alongside Biscayne Bay.
On the 1-acre site, there is a 10,000 square foot 2 story building along with 12 boat slips. The records show the property also has a boat repair yard as well as 12 boat slips that were completed in 1967.
The billionaire chairman and CEO of Fontainebleau, Soffer, and president Brett Mufson did not immediately return a call requesting information on whether the company intended to redevelop PowerHouse. According to the company’s website, Fontainebleau also owns and runs Turnberry Marina, a 68-slip facility in Aventura that can handle boats up to 160 feet in length.
The units in Tequesta, Florida’s Regency Condominium, a 53-year-old oceanfront condo structure, were all purchased by Fontainebleau last month for almost $100 million. For the purchase of a large number of condos, Motcomb Estates, an investment company owned by billionaire brothers Simon and David Reuben, granted a mortgage of $80.5 million.
According to published reports, Fontainebleau recently submitted plans to demolish the eight-story oceanfront Tequesta building with 40 units and replace it with a 10-story condominium with 34 luxurious units. The Reuben brothers have previously worked with Soffer and own a 25% stake in Fontainebleau’s JW Marriott branded hotel in Aventura.
Additionally last month, Fontainebleau used a Bank of China New York loan to refinance the JW Marriott Miami Turnberry Resort Hotel & Spa. According to statistics, the loan added $72.6 million while refinancing $339.5 million in debt.
In the three years since taking over the mortgage from Wells Fargo Bank in 2017, Bank of China has upped the amount three times.
Soffer’s second effort to purchase the Hollywood oceanfront Diplomat Beach Resort in February was unsuccessful. His business had intended to spend $850 million on Brookfield Property Partners to acquire the 1,000-room hotel. The resort is South Florida’s second-largest after Fontainebleau Miami Beach by Fontainebleau Development.
Eco-Friendly Mixed-Use Building Proposed in Coral Gables
Along the well-known Miracle Mile district of Coral Gables, Terranova Corp. intends to construct what might be the first mixed-use carbon-neutral structure in South Florida.
The office and retail building will generate all of the energy required to run it on-site, according to the Miami Beach-based developer. Using photovoltaic glass to capture solar energy, battery systems to store it, and energy-efficient AC and elevator systems might be done.
The total square footage of the four-story structure at 93 Miracle Mile would be 36,482. The building would feature 26,167 square feet of area for shops and restaurants and the rest for offices. A rooftop terrace would also be present.
According to Chairman of Terranova, Stephen Bittel, “93 Miracle Mile will be a revolutionary project, not only as a platform to champion Coral Gable’s dignitaries as forward-thinking leaders in sustainable development but also a blueprint for other developers and city planners as we face a climate crisis around the world. The modern proposed structure respects the scale of Miracle Mile, and uses traditional stone materials on the exterior, while also incorporating the best environmental options for the future.”
The developer paid $6.8 million for the 10,164-square-foot site in 2021 through an associate. The 9,097 square foot retail facility that it currently has would be torn down.
The project’s design was created by Miami-based Arqutiectonica and is awaiting local permission. Onyx Solar, based in Spain, was chosen to supply the solar glass. The solar glass will help with insulating the building as well as generating solar energy. The rooftop design will create a trellis that helps support the suspended orchid garden.
New Luxury Bayfront Development Revealed in Edgewater-Vida Residences
A new condo development has recently been revealed for Edgewater, Vida Residences. Vida Residences will encompass a Euro design that embodies luxury through every detail including its interior with beige tones, floating chandeliers, and all the amenities a luxury condominium has to offer.
Rising 9 stories tall, Vida Residences Edgewater will feature 121 fully finished and furnished units. One of the more enticing features includes the allowance of short-term rentals. There will no rental restrictions and residents will be allowed to rent on a short-term basis through hosting platforms such as AirBnb and VRBO.
The building will feature over 22,000 square feet of amenities.
Building Amenities:
Expansive rooftop tranquility pool with jacuzzi
Cabanas
Grilling stations
Private rooftop restaurant/bar
Breathtaking vistas of Biscayne Bay
State-of-the-art fitness center Convenient juice and coffee bar
HiTech co-working center 24/7 security services
Controlled property access with 24/7 concierge services
The developer for this project is listed as Urbana with Kobi Karl as the architect and interiors by Euro Design Group. The Groundbreaking is scheduled for the spring of 2023 and completion in 2024. Units start at $300,000.
Lululemon Buildout Begins at Miami Worldcenter
Construction on Block F West and World Square to the Right
The $4 billion and 300,000+ square foot multiple use development also known as Miami Worldcenter is ramping up construction. Miami Worldcenter is a vibrant location where you will soon be able to enjoy some of Miami’s finest foods, shopping, and entertainment! This new urban area is will be home to both national and local favorites as well as prestigious international companies.
One of the long-awaited retail locations is the glass cube known as Block F West, which is set to begin construction soon along with the World Square building. It is situated immediately west of Block F East also known as the “Jewelry Box”, which is now under construction and nearly completed.
Along with Sephora, Lucid Motors, and Bowlero, Lululemon is also expanding its retail chain to World Square with their space currently under construction.
These companies join other tenants that have already been revealed, such as Maple & Ash and Etta from Chicago which will both take up 2 stories of retail Space. According to Nitin Motwani, general partner of Miami Worldcenter Associates, these together with the most recent tenants have leased a total of around 90,000 square feet of retail space in the last 90 days.
According to Motwani, “On the heels of announcing an award-winning lineup of restaurant concepts slated to open at Miami Worldcenter, we are upping the ante with a trio of nationally and globally recognized lifestyle brands. These tenants exemplify the diversity we are offering throughout our residential, hospitality, and office developments across Miami, and bringing to life the retail components of Miami Worldcenter’s master plan is critical to transforming our 27-acre site into a thriving open-air destination.”
Lucid Motors is creating a multi-use building that will occupy almost 23,000 square feet. Bowlero will take up more than 31,000 square feet in the glass-enclosed “jewelry box” retail structure at Miami Worldcenter that looks out over the World Square plaza.
With the building permit issued in March 2022 for remodeling, Lululemon will occupy more than 6,000 square feet at the World Square plaza along Block H. The construction cost for Lululemon is an estimated $132,000 which will include remodeling and repairs.
Two Roads Development Launch Sales on 3 Tower Project- Edition Residences
Two Roads Development has just announced the launch of a 3 tower development designed around the Edition branding, Edition ResidencesEdgewater, with sales launching for tower 1.
With Marriott’s global reach, operational know-how, and size, this brand offers the personalized, intimate, personalized, and distinctive accommodation experience for which Ian Schrager (owner and operator) is renowned.
The Edition brand not only includes excellent design and genuine innovation, but also individualized modern service, and exceptional, one-of-a-kind food, beverage, and entertainment options.
Previously called Biscayne 21, the Edition project located at 2121 N. Bayshore Drive feature 185 condo units with pricing starting at $1.7 million. With 2 of the towers still being planned, it is unknown whether they will also have the ‘Edition’ branding.
Twos Roads Development is also responsible for Biscayne Beach and Elysee towers. Arquitectonica is listed as the architect.
In May 2022, Two Roads paid $150 million for the site which included Biscayne 21, a 191-unit tower currently on the site.
If you or someone you know have an interest in purchasing at Edition Residences Edgewater, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Record Breaking Waterfront Mansion Sold in Coconut Grove for $106.9 Million
Adrienne Arsht, a local philanthropist, set a Miami-Dade County record when she sold her waterfront property in Coconut Grove for $106.9 million.
The sale of the home represents a 29% decrease from the property’s initial $150 million asking price and this sale marks the first residential sale to exceed the $100 million threshold.
The 2 two-story homes sit on 3031 and 3115 Brickell Avenue and are frequently referred to as South Florida’s “embassy,” due to the many U.S. and international officials frequenting the home.
There are a total of 12 bedrooms and 13 and a half bathrooms in the 25,000-square-foot home. The 4-acre property has 400 feet of water frontage, is close to Vizcaya Museum & Gardens, and overlooks Biscayne Bay. The main house, known as Indian Spring, was built by Arsht in 1999.
It has a dining room that seats more than 20 people, a six-car garage with an office and apartment upstairs, a pool, and a tennis court. Indian Spring was designed by Jose Gelabert-Navia, a former dean of the University of Miami School of Architecture. Villa Serena, the other house, was constructed in 1913.
The property was developed by William Jennings Bryan, a former U.S. Secretary of State and a 3x presidential candidate. Arsht restored the waterfront mansion and it is now registered in the National Register of Historic Places.
According to records, she purchased the property in two transactions, paying $4 million for the land on which the contemporary house was built in 1996 and then $12 million for the ancient home in 2007.
Arsht, a native of Delaware, made a name for herself in Miami’s financial world and as an arts patron. She gave the Adrienne Arsht Center for the Performing Arts a $30 million gift, earning it the moniker Adrienne Arsht Center for the Performing Arts in Miami’s Arts & Entertainment District. She has also served as TotalBank’s chair in the past.
The transaction surpasses the previous high in Miami-Dade, which was set this summer by the $93 million purchase of three homes in Golden Beach by the founder of the technology business InterSystems. Ragon intends to demolish the buildings and build a new house in their stead.
Groundbreaking Officially Scheduled for The Standard Residences in Midtown Miami
Carlos Rosso, the company’s creator and the owner of Rosso Development, said that the groundbreaking is scheduled for the end of this year.
According to Rosso, condos at The Standard continue to sell at a fast pace. The project has already reached 70% sold as of May 2022.
Situated between the Design District and Wynwood, the Standard Residences will rise to 12 stores and will feature 228 luxury hotel branded units curated by Urban Robot and Standard International. Arquitectonica is listed as the architect on the project.
The luxury units range from 432 to 965 square feet of living space with the studio to two-bedroom floor plan options still available. Prices will range from $469,900 to $949,900
Price Breakdown
Studios starting at $469,900
1-bedroom starting at $699,900
1-Bedroom + Den starting at $809,900
2-bedrooms starting at $949,900
The units will feature cubby kitchens designed by Urban Robot, expansive 6′ deep terraces, and master baths with double showers. Unit owners will be able to rent their units for periods of up to 30 days with exclusive benefits to friends and family.
Amenities:
35,000 square feet of amenities
10,000 square feet of retail space
Expansive lobby with lounge areas and a cafe
Rooftop restaurant
Bar
60-foot resort-style pool
Sweat room and fitness center
Indoor pickleball court
Yoga and stretch studios
Karaoke bar
Pet Spa
Party room
Carols Rosso, owner of Rosso Development has stated that this is his first major development since he left the Related Group. Rosso hinted at additional Standard-branded residential projects in the pipeline.
Standard International, currently operates 16 hotels in the United States and across the world and owns a waterfront hotel on the Venetian Islands in Miami Beach named the Standard Spa.
The sales gallery is still under construction and is expected to be completed in October 2022. Construction on the actual tower has already started and the expected completion date is in 2024.
