Kushner Acquires Multiple Edgewater Sites for a 1,100 Unit Development
In two separate transactions totaling $37.64 million, a Kushner Cos. subsidiary purchased an entire block in Miami’s Edgewater neighborhood.
Biscayne and 19th Street LLC in Miami, owned by Enrique Manhard, sold the 1.33-acre site located at 1900 and 1920 Biscayne Blvd.; 221, 231, 237, 261, 269, and 281 N.E. 19th St.; and 222, 230, 244, and 250 N.E. 20th St. to buyer, Laurent Morali, President of Kushner Cos.
Manhard’s firm built the property with agreements totaling $18.4 million in 2017, $2.52 million in 2018, and $1.64 million in 2020, resulting in a significant profit. The only lot that is not included in the block is the Advance Auto Parts on NE 2nd Avenue.
Several office and residential buildings are located on the land. Some were constructed in the 1920s. The 1900 Biscayne Blvd. site has the same zoning as the nearby 32,775 square foot lot at 2000 Biscayne Blvd. That property was also bought by Kushner for $20.5 million from a firm run by Manhard in July 2021. Its proposals for the other property include 420 units spread across 36 stories.
Kushner executives have stated that they intend to develop around 1,100 residences in Edgewater and their hope is to capitalize on South Miami’s hot market.
Kushner Cos. financed the property through MSD Partner in New York with a $20 million mortgage.
Charles Kushner, the father of Jared Kushner, former President Donald J. Trump’s son-in-law, leads the corporation.
Related Group along with W5 Group Break Ground on Wynwood Project-W28
In Miami’s Wynwood art’s district, the Related Group has partnered with W5 Group on a massive mixed-use project. According to a press conference, the Related Group has officially began construction with the ground breaking of the project, W28.
W5 Group has been the lead equity partner in the development, committing 80% of the capital for the project. The location of the development will be at 33, 45, and 51 NW 28th Street in Wynwood. The tower is being designed by Arquitectonica.
W28 will feature 200 fully furnished units that will be designed for co-living. The development will also feature 3,600 square feet of ground floor retail, co-working space, common areas, fitness center, rooftop pool, and outdoor space for activities.
The concept came to the founder of W5 because he believed that millennials needed affordable house with a co-living concept.
“As neighborhoods become more desirable, young people are often priced out. Co-living is an exciting proposition that offers tremendous value, enabling them to experience modern living in highly attractive units – all while meeting like-minded individuals and forming rewarding new bonds in coveted metropolitan areas,” stated found of W5.
The Related Group purchased the 2.1 acre site for $6.5 million in June 2021 for the 3 properties that consisted of a 12-unit apartment building, 4 bedroom house, and an additional vacant lot.
The Related Group has already completed Wynwood 25, a different co-living project that was co-developed along with East End Capital. The Related Group is also planning an additional project located at 2801 NW 3rd Avenue that they paid $32 million for last year.
“According to The Related Group executive vice president Jon Perez. “This collaboration with W5 Group is consistent with our commitment to ensuring that every new project in Wynwood, regardless of size and scale, enhances the neighborhood’s livability without compromising its rich culture.”
Expansive Mixed Use Tower Planned for Downtown Miami
Miami-Dade planners are working hard on reviewing the pre-application for a large mixed-use project in Downtown Miami.
The property located at 1370 NE 2nd Ave is within the Metromover Subzone of the Rapid Transit Zone District. Within this zoning district, some rules apply which includes up to 1,535 units permitted as well as the 40% glazing requirements.
The tower is anticipated to rise 649 feet tall at 43 stories. Passing the district rules, the tower is proposed to have 1,441 residential units.
The tower will be designed by Rafael Viñoly architects but the city planners are asking for clarification on some of the design elements throughout the project.
The county has stated that the awnings, balconies, and weather protection elements need to be at least six inches from the curb face but the plans appear to encroach on the curb face. Specifically the parking garage for levels 2 through 12 are encroaching.
The open space and landscaping code also needs clarification.
Amenities for the tower will spread over 5 stories and include a state-of-the-art-gym, pool, office elements, and more.
There will be offices dedicated to the auditorium for the Miami-Dade County School Board which will spread over 100,000 square feet. Offices for Crescent Heights will also utilize 19,673 square feet of space.
The plans also show that there will be 9 levels of parking and an expansive ground floor designated for commercial space.
There are currently no scheduled dates to review revised plans but if approved, the ground breaking would begin in 2023.
Dezer Development Plans to Launch Sales for Bentley Residences this Month
Following the completion of the $10 million oceanfront sales center, Dezer Development plans to begin sales of Bentley Residences this year. The sales center and site located in Sunny Isles Beach features a full model unit for potential buyers.
Bentley Residences will be located at 18401 Collins Avenue and will be considered the world’s first Bentley-branded residential building. According to the Developer, once sales launch, they plan for a $1.2 billion sellout.
Seeking to capitalize on the region’s high demand for residential real estate, developers have been hurrying to begin sales of new condo buildings around South Florida. This was one of the driving factors to get the sales launched for Bentley Residences
Dezer plans to open the sales center in two phases, one at the end of January 2022 and the second phase in March 2022. The 12,000-square-foot sales center, which will be built on the site of the former Armani/Casa Residences sales gallery, at 18325 Collins Avenue, will contain a 6,000-square-foot model of a Bentley unit, a broker’s lounge, and a theater for presentations.
According to a press release, a life-sized Bentley sculpture will be displayed outside of the sales gallery before being relocated to the Bentley Residences site after completion of the tower.
The project itself will rise 60 stories tall at 749 feet. The tower will feature 216 luxury condos with in-unit garages and some units showcasing large pools on the balconies. Pricing for units will range from $3.9 million to $6 million for water-facing units. Ocean-facing units will range from $5.5 million to $7.5 million while penthouses will be in the $20 million range.
Units on the east side will have four-car garages, while those on the west side will have three-car garages. With its patterned glass, the Sunny Isles structure will be “unmistakably Bentley,” according to Dezer.
Designed by Sieger Suarez Architects, the 3.6-acre property will feature a gym, pool, spa, theater, restaurant, lounge, bar, cabanas, and gardens.
Construction is set to begin in summer 2022 with completion in 2026.
Terra Group Receives $141M Construction Loan for Mixed-Use Project in Bay Harbor Islands
Miami’s very own Terra Group has received a $141 million construction loan for its Bay Harbor Islands mixed-use project.
According to a statement from a Terra affiliate that owns the site, the Coconut Grove-based business received finance for its construction at 1177 Kane Concourse. The lender is Mack Real Estate Credit Strategies.
Terra, led by David Martin, spent $31.5 million for the site on Kane Concourse and West Bay Harbor Drive in June.
The release states that the project would include a residential aspect as well as Class A workspaces as well as retail space. There will be a “signature food and beverage” concept on the main level of the tower.
Specifics on the project have not been released like square footage and where the tower will include condominium units or apartments.
Northwood Ravin and Wharton Equity Partners’ Wharton Urban real estate investment platform obtained clearance from the council in 2020 for 90 residential units, 98,800 square feet of office space, and 14,900 square feet of commercial space. Terra Group took over the development agreement issued to the sellers by the Bay Harbor Islands Town Council.
Last summer, soon before Terra purchased the land, the Town Council agreed to transfer the development agreement to Terra’s affiliate.
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.
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.
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.
