$28.5M Sale of Office Depot Site Signals New Chapter for Sunset Harbour

In a deal that underscores the rising commercial value of Sunset Harbour, the Office Depot at 1771 West Avenue in Miami Beach sold last month for $28.5 million in an all-cash transaction. The buyer, EOS Wellness Real Estate Miami LLC, acquired the 19,672-square-foot building—situated on a 25,000-square-foot lot—for approximately $1,449 per square foot, a price that reflects the area’s strong demand and investment appeal.

More than just a high-priced sale, the transaction is being viewed as a bellwether for the next phase of development in Sunset Harbour. With Office Depot being the last remaining big-box retailer in the neighborhood, the acquisition opens the door for significant redevelopment opportunities, likely centered around wellness, luxury retail, or mixed-use concepts. While the new owner has remained tight-lipped about future plans, the all-cash nature of the deal suggests a strategic and well-capitalized intent for the site.

The sale was brokered by Avenue Real Estate Partners and Jordan Karp, who highlighted the transaction as evidence of investor confidence in both Sunset Harbour and the broader Miami Beach commercial market. This confidence is backed by recent momentum in the neighborhood, where new projects like Eighteen Sunset at 1759 Purdy Avenue, a new Whole Foods at 1901 Alton Road, and upcoming mixed-use developments at 1790 and 1920 Alton Road are transforming the area into a modern urban village.

Over the past decade, Sunset Harbour has evolved from a sleepy waterfront pocket into one of Miami Beach’s most vibrant destinations, known for its trendy restaurants, fitness studios, and luxury condominiums. The $28.5 million Office Depot sale signals that the neighborhood’s transformation is far from over—and that prime development sites are commanding top dollar.

For residents and visitors alike, the redevelopment of 1771 West Avenue will likely bring even more upscale retail, wellness offerings, and possibly residential or office space, further enhancing the live-work-play appeal of Sunset Harbour. And for investors, the deal affirms that this once-overlooked section of Miami Beach has fully emerged as a commercial hotspot with staying power.

Miami Dolphins Quarterback Tua Tagovailoa Sells Davie Home Amid Ongoing Uncertainty

Miami Dolphins quarterback Tua Tagovailoa has sold his home in Davie, Florida, signaling a potentially pivotal moment in his personal and professional life. The 5,076-square-foot property, located at 10972 Pine Lodge Trail, closed this week for $2.6 million. Tagovailoa originally purchased the five-bedroom, four-and-a-half-bathroom estate in 2020 for just under $1.7 million, shortly after being drafted fifth overall by the Dolphins. The home, situated in the exclusive gated community of Grove Creek Ranches, features a lakefront lot, expansive pool area, and high-end finishes—ideal for a young NFL star starting his career.

While the sale is confirmed, public records do not yet indicate whether Tagovailoa has purchased a new home. However, sources suggest that he plans to remain in South Florida, especially following his recent four-year, $212 million contract extension with the Dolphins. The timing of the sale, paired with his growing family—he and his wife Annah now have two children—has led many to believe the move is part of an upgrade rather than a sign of departure. Still, given his tumultuous on-field trajectory and history of injuries, the decision has sparked speculation among fans and media alike.

Tagovailoa’s NFL journey has been marked by moments of brilliance shadowed by health concerns. Over the past two seasons, he’s dealt with multiple concussions and hip issues, leading to missed games and growing worries about his long-term durability. Though the Dolphins committed to him financially in 2024, the structure of his deal includes limited guarantees beyond the 2026 season—effectively putting pressure on him to prove he can remain healthy and perform at an elite level. Retirement rumors have circulated in the past, especially following a string of concussions in 2022 and 2024, but Tua has publicly dismissed the idea, stating it has “never crossed his mind.”

The sale of his Davie home—coupled with no new home purchase publicly disclosed—has led to renewed speculation about his future with the franchise. Some fans wonder if a trade or early retirement might be on the table, while others see it as a strategic real estate decision typical of athletes entering their peak earning years. It’s worth noting that Tagovailoa listed the home earlier this year for $3 million and accepted a slightly reduced offer, still yielding a solid return on investment.

Regardless of the intent behind the move, this marks a transitional phase in Tagovailoa’s life and career. He enters the 2025 NFL season with high expectations, a massive contract to live up to, and a fan base eager to see if he can deliver consistency. For the Dolphins, his performance this year could determine not just the trajectory of the team but the direction of the franchise’s long-term plans at quarterback. As for Tua, whether he’s simply upgrading his living situation or signaling deeper change, one thing is clear: all eyes are on him both on and off the field.

Whole Foods to Open Second Miami Beach Location at 1901 Alton Road

Whole Foods Market is making waves in Sunset Harbour with bold plans for a four-story, roughly 40,000 square foot flagship store at 1901 Alton Road. This marks Miami Beach’s second Whole Foods—complementing the existing location just over a mile away—with a projected opening set for Fall 2026.

The site, which currently houses a Wells Fargo branch, was acquired by Crescent Heights/GFO Investments for approximately $15 million. It replaces the existing bank, yet continues to honor Wells Fargo’s presence through a new 4,000 square foot branch on-site. A major announcement—financing via a $54 million Ocean Bank construction loan—was made in June.

Designed by Studio MC+G with Oppenheim Architecture leading the façade, the development will feature 40,883 square feet of Whole Foods retail space, a new Wells Fargo branch, and a 271-space parking garage across the upper floors. Permitting is now underway, following design board approval in April 2024 for a similarly conceived project.

What shoppers can expect goes well beyond just groceries. Modeled on the recently opened Edgewater Whole Foods, the Sunset Harbour location will offer organic produce, local delicacies like Zak the Baker pastries, kombucha on tap, sushi, pizza bars, and a Cuban-style coffee station. The store will support over 130 Florida-based suppliers and stock more than 500 local products—all while maintaining Whole Foods’ high ingredient standards and Amazon One checkout conveniences.

Beyond groceries, this development strategically enhances Sunset Harbour’s evolving landscape. The added parking addresses longtime concerns in this dense urban corridor, while the mix of retail, dining, and banking services elevates pedestrian-friendly growth along Alton Road. Additionally, Whole Foods will extend community outreach through its “Nourishing Our Neighborhoods” program—donating to charities like The Caring Place, Urban Oasis Project, and Lotus House.

In summary, the new Whole Foods at 1901 Alton isn’t just another grocery store—it’s Miami Beach’s strategic investment in sustainable development and community enrichment. With construction on the horizon, this location is set to redefine shopping convenience, local food enthusiasm, and neighborhood vibrancy. Stay tuned as Sunset Harbour gets even greener.

Zara Founder Amancio Ortega in Contract to Buy Sabadell Financial Center in Brickell for $275M

Billionaire Amancio Ortega, the founder of global fashion empire Zara, is under contract to purchase the Sabadell Financial Center in Miami’s Brickell district for approximately $275 million. The 30-story office tower, located at 1111 Brickell Avenue, spans over 524,000 square feet and sits on a 1.8-acre parcel next to the JW Marriott. Built in 2000, the building is home to a branch of Banco Sabadell and is being sold by private equity giant KKR in partnership with Parkway. If finalized, this would mark the largest office sale in South Florida so far in 2025.

Ortega built his fortune through Inditex, the Spanish multinational retail conglomerate he founded in 1975. Inditex owns Zara, Massimo Dutti, Pull&Bear, Bershka, and several other prominent fashion brands. Ortega still owns about 59% of Inditex, a stake that generated approximately €3.1 billion in dividends for him this year. Rather than diversify into unrelated industries, Ortega has funneled much of his earnings into real estate through his investment arm, Pontegadea. The firm targets prime properties in major urban markets across the globe, with a focus on long-term value and stable income.

In recent years, South Florida has become a major focus for Pontegadea. Ortega’s local portfolio includes the Southeast Financial Center in Downtown Miami, acquired for $500 million in 2016; the Epic Hotel & Residences; a 16-story office building at 2701 South Le Jeune Road in Coral Gables; and a large retail block on Lincoln Road in Miami Beach. More recently, Ortega bought a 312,000-square-foot cold storage facility in Hialeah for $113 million in 2023, and last month closed on the 44-story Veneto Las Olas apartment tower in Fort Lauderdale for $165 million.

The pending acquisition of the Sabadell Financial Center comes at a time when many investors remain wary of the office sector due to rising vacancy rates and hybrid work trends. Yet Ortega’s purchase signals confidence in the long-term strength of Miami’s commercial real estate market, particularly in prime neighborhoods like Brickell. As one of the wealthiest individuals in the world, Ortega continues to expand his global property empire with a strategic eye toward trophy assets that generate consistent returns.

With this acquisition, Pontegadea further cements its position as a dominant player in South Florida real estate. Ortega’s approach—leveraging fashion industry profits to build a global real estate powerhouse—has proven remarkably successful. And Miami, with its growing financial sector and international appeal, remains a key piece of that strategy.

South Miami’s Sunset Place to Be Demolished and Reborn as 7-Tower Urban Village with 1,500+ Residences, Hotel & Theater

The long-time landmark known as Shops at Sunset Place—a sprawling, open-air mall that opened its doors in 1999—has officially entered its final act. After decades of dwindling foot traffic and frequent tenant turnovers, South Miami’s City Commission unanimously approved the mall’s demolition earlier this year. The aim? To clear the way for a sweeping redevelopment set to redefine the area’s urban identity.

From Mall to “Village”: Heatherwick Studio’s Vision

London-based Heatherwick Studio, led by acclaimed designer Thomas Heatherwick, has been tapped to reinvent the site as a vibrant, walkable community. The plan: dismantle the monolithic mall—and all but its parking structure—to make room for a mosaic of low-, mid-, and high-rise buildings artfully arranged around a new pedestrian-friendly street grid.

By reintroducing continuous streets that flow into the site—an urban concept Heatherwick describes as “bringing back streets”—developers hope to activate the core of the development and weave it into the larger South Miami fabric.

Credit: Heatherwick Studio

Credit: Heatherwick Studio

What to Expect: A Mixed‑Use Urban Destination

The approved master plan includes:

Residential units: 1,513 residences will bring a built-in population to enliven the streets

Retail and dining: A pedestrian-friendly “restaurant street” is envisioned, lined with boutique shops, cafés, bakeries, and restaurants—each storefront thoughtfully unique

Central public plaza: A sprawling, open-air plaza (approximately 15,000 square feet) will serve as the social heart of the project, ideal for pop-ups, markets, and nightlife

Hotel, offices, and theater: The redevelopment will include a boutique 287-key hotel, 50,892 square feet of office space, and a theater—possibly relocating the AMC cinema—which will amplify the site’s 18/7 vibrancy

Credit: Heatherwick Studio

Credit: Heatherwick Studio

Towering Heights: Gradual Density Integration

Heatherwick Studio’s design sensibility emerges in the height variations across the site:

This scaling plan delicately transitions the neighborhood from pedestrian-level charm (near Sunset Drive) to skyline-defining towers facing U.S. 1.

Honoring the Past, Building for the Future

Sunset Place isn’t the first retail experiment at this site. It traces its roots back to the Bakery Centre (1986–1996), a similarly sized retail‑office complex that failed. That history has made architects and developers cautious—but excited to “break the cycle of soulless places” in favor of designs meant to foster place and community.

Midtown Development acquired the site in early 2021—coincidentally in the thick of the COVID downturn—and partnered with Heatherwick to reimagine what a future‑forward South Miami centerpiece could be.

A Long-Brewing Transformation Timeline

Demolition of the Shops at Sunset Place is scheduled to begin in the first quarter of 2026, assuming approvals and site preparations stay on track. The mammoth redevelopment will unfold in multiple phases over the next 10 years. The very first phase—highlighted by newly constructed streets, a residential condo tower, and a 287‑room hotel—is expected to be delivered by 2029, according to city and developer projections.

While the full buildout will extend well beyond that, early activations such as pop-up shops, interim public plazas, and community programming may be introduced during construction to maintain momentum and vibrancy on the site. Midtown Development has emphasized its commitment to supporting local businesses and keeping the area lively throughout the transformation, ensuring that Sunset Place remains an engaging part of South Miami—even as construction progresses.

A Cultural and Urban Pivot

This isn’t just a structural overhaul—it’s a cultural shift. South Miami has committed to transforming a dormant, car-centric mall into an integrated, pedestrian-first destination. The redesign nods to European plazas with outdoor café seating while embracing modern mixed-use energy. It’s a bold move that channels global urban trends into this beloved Miami community.

Credit: Heatherwick Studio

Credit: Heatherwick Studio

Looking Ahead: A Bold New Vision for South Miami

Surpassing its legacy as a fading suburban mall, Sunset Place is poised to become a reinhabited, reactivated slice of South Miami. With Heatherwick Studio’s forward-thinking architecture, 1,513 new residences, lively streetscapes, and dynamic public spaces, what replaces it has the potential to become a transformative anchor for the region. For residents, developers, and visitors, this long-awaited change is more than construction—it’s the start of a more connected, walkable, and animated downtown South Miami.

Stay tuned as the cranes arrive, the streets return, and Sunset Place reboots—this time, as an urban village crafted for communities more than car trips.

Is Fed Chairman Jerome Powell on the Way Out? What a 300 Basis Point Cut Would Mean for Miami Real Estate

Federal Reserve Chairman Jerome Powell is once again in the political crosshairs. This time, the controversy surrounds a $2.5 billion renovation of the Fed’s Washington, D.C. headquarters. Critics, including several Republican lawmakers, have accused Powell of misleading Congress about the cost and scope of the project, claiming the renovation includes unnecessary luxury upgrades. President Trump has reportedly seized on the issue as political leverage to push Powell out of office—either through resignation or by invoking a rarely used provision to fire him “for cause.”

President Trump has made no secret of his dissatisfaction with Powell’s handling of interest rates. Since returning to the national spotlight, Trump has advocated for a dramatic 300 basis point (3%) rate cut, arguing that slashing rates from around 4.5% down to 1.5% would save the federal government hundreds of billions of dollars in debt servicing costs. According to his allies, such a cut could result in up to $360 billion in annual savings, although more conservative estimates put the figure closer to $174 billion in the first year alone. Trump’s goal appears to be replacing Powell with a Fed Chair who will aggressively pursue this monetary policy shift.

If implemented, a 300 basis point rate cut would be unprecedented in modern U.S. economic history. The last time the Fed enacted such a large move was during the 2008 financial crisis and again during the COVID-19 emergency response—both times with cuts closer to 100 basis points. A three-point reduction would significantly lower borrowing costs across the board, from mortgages to credit cards to business loans. This would likely lead to a surge in consumer spending, business investment, and home buying. Financial markets would almost certainly rally on the news, with equities, cryptocurrencies, and even gold seeing sharp gains in anticipation of looser monetary conditions.

But such a drastic move isn’t without risks. A key concern is the resurgence of inflation. Many economists warn that a rate cut of this magnitude could reignite inflation, potentially pushing it back above 5% after months of moderation. Another issue is the value of the U.S. dollar. Lower interest rates tend to weaken a country’s currency, and a sudden 300 basis point cut could lead to a rapid 10% drop in the dollar’s value—raising the cost of imports and exacerbating inflation pressures. There’s also the possibility of asset bubbles forming, especially in real estate and tech stocks, as cheap money floods the market.

In Miami, the implications of such a rate cut would be immediate and dramatic. Mortgage rates, currently hovering around 7%, could drop to the low 4% range or even lower. This would significantly boost purchasing power, particularly among first-time buyers and investors. Historically, even a 100 basis point cut can increase housing affordability by 10%; a 300-point cut could make homeownership viable for thousands more buyers practically overnight. Demand would spike, fueling a new wave of bidding wars, rapid price appreciation, and increased development activity—especially in high-growth neighborhoods like Edgewater, Little River, and Wynwood.

However, the downside in Miami would be a further deterioration in affordability. Home prices, already inflated due to limited inventory and migration from higher-cost states, could surge another 20% or more. That would likely push more locals out of the market and exacerbate the region’s housing inequality. On the investment side, commercial real estate—especially multifamily—would benefit from cheaper debt and renewed investor appetite, but office space and retail may see less of a bounce due to ongoing structural challenges.

From a macro perspective, such a cut could energize U.S. GDP growth, potentially pushing it above 3.5% annually. But the long-term consequences could be destabilizing. The move would almost certainly raise concerns about the Federal Reserve’s independence if it appears that political pressure—rather than economic data—is guiding monetary policy. Financial institutions, global markets, and U.S. allies could begin to question the stability and predictability of the Fed, which has long been a cornerstone of global financial confidence.

In conclusion, the rumors of Powell’s resignation—fueled by scandal and political pressure—could mark a turning point in U.S. economic policy. A 300 basis point rate cut would bring short-term relief to borrowers and spark a new wave of growth in places like Miami, but the risks to inflation, market stability, and Fed independence are considerable. Whether this is sound economic strategy or reckless short-termism remains to be seen—but the impacts, particularly on the real estate market, would be both swift and significant.

Van Leeuwen Ice Cream Coming to Mary Brickell Village This Winter

A Cold Treat Rooted in Goodness

Flavors That Captivate Hearts (and Palates)

• Classics like Vanilla Bean—hailed as “Best Vanilla Ice Cream” by the New York Times’ Wirecutter—Honeycomb, Sicilian Pistachio, Marionberry Cheesecake, and Earl Grey Tea capture timeless tastes
• Vegan varieties such as Vegan Churros & Fudge and Vegan Chocolate Cookie Dough Honeycomb ensure everyone can indulge
• Daring limited-editions like Hidden Valley Ranch and Kraft Mac & Cheese grabbed headlines in 2021 when their Mac & Cheese flavor sold out in just an hour
• Celebrity and collaboration creations—including specialty scoops like Sabrina Carpenter’s espresso blend, Keith Haring raspberry, and Jean‑Georges’ Sour Cherry Creamsicle—continue to keep fans buzzing

Why Van Leeuwen’s Maryland Brickell Village Location Matters

Final Scoop

Florida Appeals Court Upholds Holdout Owners’ Rights at Biscayne 21, Setting Major Precedent for Condo Terminations

In a major win for Florida condo owners, the state’s Third District Court of Appeal ruled in favor of a group of unit owners at Biscayne 21, a 13-story, 192-unit condominium complex in Miami’s Edgewater neighborhood. The court upheld a previous decision that invalidated a developer-led amendment to the condo’s governing documents, which had attempted to lower the required vote to terminate the condominium from 100% to just 80%. On July 10, 2025, the court denied a motion for rehearing, affirming that the original declaration of condominium required unanimous approval to terminate the association and could not be modified unilaterally.

The case, brought by eight unit owners represented by attorney Glen Waldman, challenged the termination plan led by Two Roads Development and its affiliate, Empira Group. The developer had acquired 86% of the units in a $150 million bulk buyout and sought to redevelop the property into a luxury condo project—Edition Residences Edgewater. After several owners refused to sell, the developer-controlled board amended the termination clause, a move the court ruled violated the contractual rights of the remaining owners.

The appellate court’s decision not only preserves the rights of the Biscayne 21 holdouts but also establishes a significant precedent with potential statewide implications. According to legal experts, the ruling confirms that developers cannot retroactively change essential voting rights in a declaration—particularly when it involves something as consequential as terminating a condominium association. The decision is expected to complicate bulk buyout efforts across Florida, especially in cases where the original governing documents require unanimous consent for termination.

For developers, this decision adds a new layer of legal risk when pursuing aging condo properties for redevelopment. Florida has seen a wave of such efforts in recent years, especially following the collapse of Champlain Towers South in Surfside, which raised concerns about aging buildings and spurred legislative changes. However, this ruling signals that even amid redevelopment pressures, courts are willing to protect owners’ contractual rights and block attempts to dilute those protections.

Two Roads Development has stated its intention to appeal the decision to the Florida Supreme Court. However, until or unless the state’s highest court overturns the appellate ruling, the current decision stands as binding precedent. The outcome strengthens the position of holdout owners and may force developers to offer more favorable terms—or abandon termination plans altogether.

Ultimately, this case underscores the importance of understanding and respecting the original terms set forth in a condominium’s declaration. Boards and developers alike must tread carefully when altering foundational governance provisions. As Miami’s real estate market continues to evolve, the Biscayne 21 ruling will likely influence how future terminations are approached—not just in Edgewater, but throughout the state.

The Alley: A Boutique Preconstruction Opportunity in Miami’s Booming Little River

Miami’s Little River neighborhood is experiencing a renaissance—and The Alley is at the forefront of it. This boutique, 5-story condo development is the first lodging building in Little River to be offered for individual ownership, giving early investors the chance to claim a stake in one of the city’s most exciting up-and-coming districts.

Developed by Saxum International—an experienced and visionary team known for reshaping Little River’s residential landscape—The Alley offers 50 fully finished junior studios starting from just $315,000. Designed for maximum flexibility and rental potential, each residence is optimized for short-term stays with thoughtful layouts, clean modern finishes, and optional division for added guest privacy. Residences range from 358 to 382 square feet, with east and west-facing views and a payment structure tailored to ease: 20% at contract, 20% at groundbreaking, 10% at the third floor, and 50% at delivery in Q3 2026.

The building is rich in features that appeal to today’s traveler and digital nomad. Highlights include a rooftop coworking lounge, high-speed WiFi throughout, 24/7 parking for residents and guests, and vending machines for added convenience. HOA dues are a modest $1.37 per square foot and include reserves, making The Alley a hassle-free income-producing asset.

What makes The Alley truly special, however, is its location. Nestled at 183 NE 78th Street, residents will enjoy seamless access to the creative pulse of the city. The buzzing Wynwood Arts District is just 7 minutes away, the high-fashion Design District in 8, and Midtown Miami in 10. Even Downtown, Brickell, and Miami International Airport are within a 20-minute drive. And with a future Tri-Rail station planned as part of Swerdlow Group’s massive 7,500-unit development, Little River’s connectivity is only going to get better.

This is more than just a smart investment—it’s a front-row seat to transformation. With over $3 billion in approved development, Little River is evolving into Miami’s next cultural and investment hub. Projects from heavyweights like AJ Capital Partners, B Developments, and CEDARst Companies are bringing thousands of new residences, retail destinations, and creative spaces to the area. Property values here are appreciating faster than in more saturated markets like Brickell or Miami Beach.

If you’re looking for a high-yield opportunity in a neighborhood poised for explosive growth, The Alley delivers. With limited inventory, rising demand for short-term rentals, and a future-proof location, this is your chance to get in early on Miami’s next big thing.

Contact us today at [email protected] to schedule a presentation or to reserve your unit at The Alley.