Co-Owner of E11even Nightclub and Partner at Titan Capital Acquired Land at Miami Worldcenter
For $30 million, Lynd Living acquired a Miami Worldcenter development site from a business run by Marc Roberts, co-owner of the E11even nightclub, and Ira Saferstein, a partner at Titan Capital.
The $4 billion master-planned mixed-use project spanning 27 acres in the Park West neighborhood of downtown Miami has added the San Antonio-based company as the newest multifamily developer to the group of apartment builders.
According to public documents, a Lynd associate purchased the roughly 0.5-acre parcel of land at Northwest 10th Street and North Miami Avenue and secured a $22.7 million financing through TIG Romspen US Master Mortgage. According to a news statement, Kevin O’Grady and Justin Neelis from Concord Summit Capital handled the finance and Lynd has hired the company to find a construction loan. Additionally, Concord Summit mediated the sale.
IRR Parkwest Investments, led by Roberts and Saferstein, was sold by the Miami-based legal firm Adams Gallinar, which was represented by attorneys Michael Gallinar and Jason Camps.
A 650-unit apartment building is permitted on the site of the development. A residential tower is being planned, according to David Lynd, CEO of Lynd. “For the time being, we are keeping it quiet. We’ll release more information as we prepare to enter the market.
According to records, the vacant property was a component of a 1-acre assemblage that IRR purchased in 2020 for $26.7 million. The remaining property is still owned by Roberts and Saferstein. Roberts, a former boxing promoter, joined master developers Art Falcone and Nitin Motwani as an early investor in the Miami Worldcenter project in the early 2000s.
In March, the Miami Worldcenter development property at 1016 Northeast Second Avenue was purchased for $40.5 million by the New York-based Naftali Group and Chicago-based Akara Partners. The CEO of Naftali, Miki Naftali, is constructing two residential towers, but the company hasn’t said whether the structures would house condos or apartments.
Adam Neumann, a co-founder of WeWork, received $108 million in construction financing in February for a new apartment building on a bare lot at Miami Worldcenter. It shares a boundary with Caoba, a 40-story apartment complex at 698 Northeast First Avenue. Both the development site and Caoba’s ownership organization were purchased by Neumann.
Miami Condo Investments Celebrates its 15 Year Anniversary
On May 17th 2007, Lucas Lechuga launched one of the most successful condo websites in Miami. With just a desire to bring better user experience, real estate listings, and news, Lechuga has achieved just that and so much more!
Over the years, he was able to develop a way for users to search for their potential properties through alternative methods instead of the traditional zip code searches and he also found a way for consumers to access market statistics without ever having to make a call or enduring tedious research methods.
In 2017, for the 10 year anniversary of the website, the average users ranged from 40,000 unique visitors per month globally from 200 countries. Still pacing as the #1 Miami Condos Website, 2022 brings over 100,000 unique visitors per month globally just through Google.
Not only does Miami Condo Investments offer a unique real estate listing experience, but you can also enjoy new construction tower updates, real-time inventory data, condo ranking system, up-to-date condo tower photos, rentals, and a real estate blog posted daily.
We are also in the process of some new landing pages aiming to be even more user and mobile friendly, searching with specific criteria, and a new mobile app. We will update everyone once we get closer to a launch date.
As far as the team…During our last anniversary, our team included six agents and now our team is growing along with the website. We have reached 9 agents that assist buyers and sellers with all of their real estate needs. We also have 3 office admins, including assistants and marketing pros.
We are so grateful for all of the accomplishments that this website and our team has completed over the past 15 years and we can’t forget about our readers and clients. Thank you so much for allowing Miami Condo Investments to be your most knowledgable partner while navigating the real estate market. We look forward to serving you and Miami the next 15 years!
LIVWRK Wynwood Proposed for Miami’s Wynwood Neighborhood
The Brooklyn-based developer LIVWrk has submitted its second set of construction plans for their recently acquired Wynwood site. The site itself is located at 2400-2418 N Miami Ave. and 29 NW 24th St. from East End Capital.
The proposal themselves is included to have 2 separate buildings covering 922,466 square feet of total area. Both buildings will have rooftop terraces, while amenities will be separated between the 2 towers.
Building Information
Architect: Morris Adjmi
420 residential units (located in building 1)
59,461 sq. ft. of office space (located in building 1)
122 apartment/hotel units (located in building 2)
29,057 sq. ft. of ground-floor commercial (located in building 1)
556 parking spaces and 798 bike rack spaces in a 3-story garage (located in building 1)
8,996 sq. ft. of ground-floor retail (located in building 2)
Building Amenities:
Fitness center (building 1)
Social club (building 1)
Bar and lounge (building 2)
The developer purchased the 2.45-acre development site for $38.86 million. through Thorofare Asset Based Lending REIT Fund V based in Los Angeles, with a mortgage of $28.44 million. Asher Abehsera, the firm’s founder, leads LivWrk.
This is LIVWrk’s first Miami development in South Florida. Most of their current project is in progress in New York but the developers are also working on a collection of historic buildings in Los Angeles.
On March 8, 2022, the Wynwood Design Review Committee is scheduled to review the development plan which will include the design renderings.
Another Fisher Island Condo Sold at $21 Million
After spending 5.5 years on significant renovations and imported furniture, Igor Olegovich Nesterenko, a businessman in the meatpacking industry from Moscow, sold his Fisher Island property for $21 million.
The unit located at the Palazzo Del Mare unit 7153, features 5 bedrooms, 5.5 bathrooms, a terrace, a playroom, and a conference room spanning over 7,025 square feet. It also has a private 2-car garage on the parking level of the building and a private cabana near the pool.
Nesterenko spent the 5.5 years refurbishing the condo because Fisher Island only allows for roughly half of a year’s time for construction due to noise restrictions.
Furthermore, much of the furniture was purchased from abroad and was rather large and proved difficult to ship overseas. The bathtub in the master bedroom was fashioned from a solid block of Greek White Thassos marble and was carried into the apartment using a crane. The majority of the furniture was also brought by crane since it was too large for the elevator.
The 7,025-square-foot Unit 7153 located at Palazzo Del Mare was sold to Fana Fisher Palazzo 7153 LLC, managed by a trust in Bellevue, Washington purchased the condo for $21 million equals $2,989 price per square foot.
The trust is under the umbrella of the Fana Group of Cos., a real estate corporation located in Bellevue led by Chairman and CEO Firoz Lalji.
The apartment was designed by Augusto Busnelli of Milan, according to Flikshteyn. The previous owner spent around $10 million on upgrades. The property was last sold in 2011 for $8.3 million.
The Palazzo Del Mare was built in 2007 and with an expansive amenity package including a 9-hole golf course, 18 tennis courts, a marina and yacht center, a gourmet market, 8 restaurants, and Spa Internazionale. A Fisher Island Day School and a mile and a half of pristine beaches.
Fisher Island, America’s wealthiest zip code, is a 216-acre barrier island located across Government Cut from Miami Beach. Fisher Island condominiums are in a class of their own when it comes to ultra-exclusive living in South Florida.
The island, which can only be reached by ferry, boat, helicopter, or seaplane, provides unrivaled protection. All visitors to the island must first be checked by security at the Fisher Island port.
Sixty Sixty Condo Hotel Sold to Miami-Based Investment Group for $24 Million
In a previous foreclosure fight among owners and developers, the Sixty Sixty condo-hotel in Miami Beach has been sold for $23.5 million to a buyer who intends to repair as well as add to the waterfront development.
The 82-key condo-hotel is located at 6060 Indian Creek Drive along an inlet off of Biscayne Bay but also features views of the ocean. Integra Investments along with Sagar Desai’s Activate Hospitality sold the property to Bloom Hotels, under the umbrella of Bloom Ventures. The founder and CEO of Bloom is David Harari, who is located in Miami.
The CEO of Integra Victor Ballestas stated, “ripe market conditions created an opportunistic circumstance for the sale,” after stating he had no intention of selling the development.
The Schecher Group originally sold a majority of the units in 2020 to Integra and Activate for $15 million, then later bought the rest of the units in 2021. The company was then accused of a takeover although Schecher stated that the unit owners owed $9.4 million in homeowner association fees.
Bloom Hotels utilized Sheridan Capital to finance the property for a loan of $17.3 million. There have been talks of Bloom increasing the room count and bringing Canopy or Tapestry (Hilton brands) to assists with operations. Some plans include modernizing the property as well as adding a marina to the development.
LOFTY Club Residences Debuts in February-50% of Units Reserved
Lofty Club Residences will officially debut on February 17th with the grand opening of the brand’s sales lounge. As of this month, the project has reached 50% reserved and continues to climb.
Similar to its sister tower, NATIIVO (which sold out less in less than a year) Lofty will feature 380 units of fully finished and furnished interiors that will be available for rent nightly, daily, and/or monthly. Residents will have the option of self-managing their units (VRBO or Airbnb) or using Lofty’s onsite management.
Rising 44 stories, Lofty will feature studio, 1, and 2 bedroom floor plans with 485 to 930 square feet options. Pricing starts at $493k for a studio. There will also be available penthouses but the information hasn’t been released as of now.
Designed by internationally acclaimed, Arquitectonica, interiors will be designed by a New York-based interior design company INC New York. Developer Harvey Hernandez is also responsible for Brickell House and Centro towers. Hernandez purchased Lofty lot for $50 million
Lofty will feature a number of wonderful amenities including a butler service, rooftop pool, car service, and a 5-star restaurant that hasn’t been disclosed. This tower will also include a private marina with available docks for boating.
Building Features
The 40-story landmark building designed by internationally acclaimed architecture firm, Arquitectonica
Prime Brickell location is steps from Brickell City Center
Short-term rentals permitted as-of-right
Spectacular panoramic Miami River, Brickell, and Miami skyline views
2 Story lobby with floor to ceiling windows 24-hour welcome desk with concierge 24-hour valet parking 24-hour secure access Advanced technology smart-building with high-speed fiber-optic wireless internet access throughout common areas
Exclusive LOFTY app
Cutting-edge green building technology
6 high-speed passenger elevators with access control
On-site hospitality management Curated River-front restaurant with outdoor dining terrace
Building Amenities
Exotic resort pool with pool-side cabanas
Bar and grill on pool deck 24/7
Co-working lounge Private meeting rooms
Event room with exclusive terrace
A fully-equipped, state-of-the-art fitness center with HD TVs and wireless audio Private Peloton studios Yoga lounge and terrace
LOFTY Rooftop Experience
Residence Features
Urban luxury residences with modern open layouts from 485SF—930SF Studio, one and two-bedroom units
All residences are delivered fully finished and furnished specially curated by INC
Panoramic Miami River, and Miami skyline views
Private balconies for every residence
Corner units offer wrap-around balconies
High ceilings ranging from 9’ to 11’
Owner closets in every residence
Floor-to-ceiling sliding glass doors and sound attenuating impact-resistant laminated glass throughout
Advanced technology Smart Building wiring for HD TV,
Multiple telephone /data lines and ultra-high-speed internet access
Individually controlled energy-efficient central air conditioning and heating system
Kitchen
Imported European cabinets with premium hardware and drawer pulls
Top of the line appliance package including stainless steel refrigerator, oven, cook-top, microwave, dishwasher and sink disposal
Elegant imported stone countertops and backsplashes
Contemporary stainless steel under-mounted sink
High-arc gourmet faucet with integral sprayer
Master Bathroom
Imported European cabinets with premium hardware and drawer pulls
Elegant imported stone countertops and backsplashes
Harvey Hernandez, CEO of Newgard Development Group, “Buyer’s desire for new ways to own and use real estate assets, paired with favorable locations and economics, are nurturing investment growth in our properties.”
The groundbreaking is expected to begin in quarter 4 of 2022. The construction completion date is expected in 2024. If you or someone you know have an interest in purchasing at Lofty Brickell, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.
Melo Group Purchases Entire City Block in Edgewater to Build a Four Tower Development
Melo Group has recently purchased an entire 3.04-acre city block for $105 million in Miami’s Edgewater neighborhood with the intention of establishing a huge development.
The entire block extends from Biscayne Boulevard to Northwest Second Avenue between Northeast 17th Street and Northeast 17th Terrace with the primary address as 1700 Biscayne Blvd.
The sellers of the land are Biscayne Arts LLC, Biscayne Arts Plaza LLC, Brickell North Investments, and Miami Proarts II but the press release stated that the land is managed by James Goldstein in Fort Lauderdale. They have owned the property for decades and the current block features 2 office buildings, parking lots, and a Burger King.
The Melo Group plans to develop four 60 story towers with condos, apartments, and retail space with the condo units totaling 1,520 residential units. The property was purchased for $105 million at $69,000 per buildable unit.
According to a representative of the Melo Group, “the Biscayne Place sale marks the highest price per square foot for any non-waterfront property in Miami’s Arts & Entertainment District and the second-highest in Edgewater.”
The Melo Group has built more than 6,000 condos in the city throughout the last 20 years with a majority of its projects located in Edgewater as well as the Arts & Entertainment District. If this property moves forward, this will be the largest development that the Melo Group has built in Miami.
You Could Have Your Own Regalia Penthouse for $25.5 Million
Photo Credit: Jeffrey Miller
Located at the Regalia, this 15,000 square foot penthouse is an absolute dream and it could be yours for $25.5 million. In a time where luxury penthouses have been selling quickly and real estate records keep breaking, at this price point plus all of the features and amenities, this penthouse unit is a steal.
The location of the Regalia is unmatched, placing it centrally in Sunny Isles Beach with the ocean just steps from the luxury tower. Located at 19575 Collins Avenue #PH43, this unit has a bird’s eye view of the Atlantic Ocean and the Miami skyline. Featuring 6 bedrooms, 7 full baths, and 2 half baths, this full-floor unit is placed at the very top of the tower spreading over 3 floors.
Upon entering the luxury unit, you are greeted with soaring 20-foot ceilings, a custom rainfall chandelier, and floor-to-ceiling windows with endless ocean views. The Blanco Sevilla stone floors lead to the custom Poliform kitchen with Wolf and Sub-Zero appliances. The kitchen also features smoky quartz counters with Kreon lighting.
The floating staircase takes you to a separate floor where the expansive master is anything but ordinary. This suite is perfectly finished with remarkable ocean views from every corner and the grand bathroom with its Calacatta marble expanding over the floors and walls. According to the listing, there is over $1 million in imported Calacatta.
As you ascend from the pneumatic glass elevator to the private rooftop, an outdoor pool, summer kitchen, and custom bar awaits. The entire unit features Blanco Sevilla Stone and Nikzad flooring throughout, Kreon lighting, Crestron Smart home automation, and Lualdi Italian Interior doors.
This remarkable tower was designed by Bernardo Fort-Brescia of Arquitectonica and decorated by Charles Allem of CAD International, a world-renowned South African designer. The Regalia is the epitome of perfection and luxury. What’s so unique about this tower is the 39 full-floor residences. Each residence expands 5,515 square feet of living space with private elevator entries and 2,100 square feet of wrap-around terraces.
Regalia Amenities
Smart Building
Yoga/Meditation Room
Oceanfront Jacuzzi
5-Star International Concierge Services
Cold Plunge Pool
Private Poolside Cabanas
Finishes with the Finest Stone, Wood, Glass, and Wall Coverings
State-of-the-Art Fitness Center
Professionally Trained Spa Manager
Private Poolside Cabanas
Fountains, Privacy Landscaping, and 24-Hour Valet
This incredible listing is currently up for auction and will be sold to the highest bidder on December 16, 2021. If you or someone you know have an interest in purchasing at the Regalia, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
ARod Backed-Grand Station Apartment Tower is Complete and 80% Leased
Construction on Miami’s Grand Station Apartment tower has been completed. Alex Rodriguez and his partner Ricardo Vadio, owners of Rovr Development are the investors behind the $70 million construction project that was built on top of the existing Courthouse Center Garage.
Not only has ARod backed the construction of the project but his company Monument Real Estate Services is also the property Manager of Grand Station Apartments.
In early March 2020, partners for Grand Station obtained a $53 million loan from Saperian Capital to assist with the construction. Since Grand Station received their temporary certificate of occupancy in August, they have reached over 80% leased for the tower.
The tower located at 240 North Miami Avenue rises 30 stories and feature 300 units right in the heart of downtown. The development is a part of a public/private partnership with the Miami Parking Authority, which has assisted in adding an additional 350 spaces for the building totaling 1,200.
The tower features studio to 2 bedroom apartments with a monthly rent that ranges from $1,800 to $2,500. All units boast Italian kitchen cabinets, quartz counters, stainless steel appliances, and an in-unit washer and dryer.
The luxury tower amenities include an indoor pool, rooftop terrace with pool, outdoor kitchen, hot tubs, fitness center, and club room.
Zyscovich Architects and Anillo, Toledo, Lopez LLC are responsible for the design of Grand Station.
Rovr along with the Related Group and Airbnb are the masterminds behind the new development, The District located at 225 North Miami Avenue.
Echo Brickell Penthouse with Indoor Pool Lists for $39.5 Million
There are many condos that have truly taken our breath away over the years but this one has left us absolutely stunned. From its 28 foot ceilings, all the way to its 360-degree water views to its indoor pool, we can’t stop drooling over this penthouse that just hit the market at Echo Brickell.
Located at 1451 Brickell Ave, Miami, this duplex penthouse has everything you need and more. Listed at a cool price of $39.5 million, the unit stretches 11,000 square feet over 2 floors, 56th and 57th.
The penthouse features 5 bedrooms and 7.5 bathrooms each with custom built-ins and magnificent views. The unit truly feels like a mansion with the bedrooms above and the main living areas below.
Amenities are in abundance in this ultra-luxury penthouse. The indoor sky pool is perfectly placed with floor-to-ceiling folding doors for the natural weather exposure. The signature staircase unfolds to a unique green foliage wall accenting the marble and glass throughout.
The custom kitchen opens to living space that is a designer’s dream. The grand suite features two dual baths, designer closets, and a midnight bar. All of the bathrooms are custom-crafted marble pieces.
This unit features 6 parking spaces, 4 elevators, an office, staff quarters, and a full wellness package with a sauna and fitness room.
Echo Brickell is a 180 unit residential tower that rises 57 stories located directly in the middle of Miami’s Financial District. Echo was designed by Carlos Ott and developed by PMG and JDS Development Group. The interiors were completed by Yoo Studio. The floor plans range from 1 to 4 bedroom options with penthouses also available. The unique thing about Echo is that it features 180 different floor plans.
Echo Brickell Amenities
Vanishing-edge pool and deck with panoramic views of Biscayne Bay, Downtown Miami, and Miami Beach
2,800 square foot, state-of-the-art fitness center and spa overlooking pool, bay, and city
Resort-style poolside food and beverage service
Two hot tubs with sunbathing deck overlooking the Brickell skyline
Full-service concierge services
If you or someone you know have an interest in purchasing one of the units at Echo Brickell or any information regarding Penthouse 01, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
