Miami Beach’s Star Island is Now Ranked as the Nation’s Highest Priced Neighborhoods
Miami Beach’s exclusive Star Island has taken the top spot among the most expensive areas in the country, surpassing Port Royal in Naples, FL, Beverly Hill’s Gateway, and Trousdale Estates in Beverly Hills. In 2022, the price of the typical home sold on the island was $40.2 million, an increase of $16.7 million and 71% from 2019 when it was $23.5 million.
Ken Griffin, the founder of Citadel and a heavyweight in the hedge fund industry, has spent a total of $170 million over the past few years buying a collection of five houses on the island. Griffin made a big impression when he paid $75 million for a 1993 demolition on 1.8 acres at 8 Star Island Drive. At the time, the sale broke a record for Miami-Dade County single-family home sales, but Griffin is no stranger to shattering records.
Griffin also bought the nearby 10 Star Island for $25 million, 11 and 12 Star Island Drive for about $37 million, and 13 Star Island for $32.5 million in an off-market purchase. Also, he was the owner of 14 Star Island, which he acquired for $24 million in 2020 and reportedly traded for 13 Star Island for $18.5 million with former New York Yankee and real estate mogul Alex Rodriguez.
Griffin is not the only well-known investor who has bought and sold on the Island. Stuart Miller, the executive chairman of Lennar, paid $33 million for the old 4 and 5 Star Island Drive owned by Thomas Kramer, which marked the beginning of a protracted series of deals on the renowned island. With Todd Michael Glaser, Stuart Miller created an extravagant model home at 22 Star Island that was designed by DOMO Design and sold for $49.5 million in an off-market transaction managed by David Solomon and David Miller.
The owner of the NBA’s Memphis Grizzlies, Robert Pera, purchased the 1.9-acre property next door from Miller in 2019 for $25 million. A contentious 28,000 SF seaside home with a basketball complex is being built by Pera. Marc Iacovelli sold the historic Carl Fisher estate at 46 Star Island Drive to Roger and Sloan Barnett for $39 million on the other side of 22 Star Island. On the island, Shay Kostiner recently sold his vacant lot at 44 Star Island for $10 million, while Anthony Hsieh, the founder and CEO of LoanDepot, just paid $30 million to purchase 34 Star Island Rive.
Just over the MacArthur Causeway from Fisher Island’s entrance and Miami Beach’s South of Fifth district, the gated Star Island has long been one of Miami’s most sought-after neighborhoods. The Army Corps of Engineers constructed the island in 1922 as part of a dredging project, and Carl Fisher turned it into an island for the affluent and well-known. Celebrities and billionaires like Gloria and Emilio Estefan, Philip Frost, Sean ‘Diddy’ Combs, Alex Rodriguez, Stuart Miller, and Vladislav Doronin currently reside on the island.
Urban Network Capital Group Unveils the Luxury Condo Hotel-Visions at Brickell Station
‘Visions at Brickell Station,’ a luxury condo-hotel aimed at elevated luxury or business visitors searching for an enhanced experience, has been unveiled by Urban Network Capital Group (UNCG).
After the nearly sold-out Visions Orlando Spa & Resort, which is a 354-unit luxury vacation hotel community set to commence development soon, Visions at Brickell Station is the second Visions project for UNCG. Visions is a recently introduced brand by UNCG, with the company’s first such developments taking place in Orlando and now Miami.
The recently finished assemblage, which cost a total of $8,500,000 to purchase, comprises of three Miami-area parcels at 1120, 1130, and 1136 SW 3rd Avenue. Around 70 new properties in the single-family and multifamily markets have been developed by UNCG, with deals worth over $2 billion successfully completed.
Visions at Brickell Station is a boutique condo/hotel complex with 111 residences ranging from studios to one-bedroom units, with no rental limitations, and is situated in the center of the city at 1120 SW 3rd Avenue. Owners can engage in a professionally run Hotel Program or rent it out through a booking platform of their choice.
A wide range of people are drawn to the distinctive, modern architecture created by DTI Architects, and UNCG can choose from a variety of price points, starting at $299,448 for a 321-square-foot studio, $413,124 for a 451-square-foot junior suite, and $501,960 for a 539-square-foot one-bedroom unit.
The eight-story skyscraper will provide spectacular style, intimacy, exclusivity, and a wide range of wellness-focused amenities that meet residents’ every need once it is finished in 2025. A state-of-the-art gym with interactive gym equipment, rooftop Infinity pool and terrace, on-site restaurant with food and beverage service, front desk check-in, laundry services, and a bike-share program are just a few of the distinctive features that improve the experience of being an owner at Visions at Brickell Station.
Keyless electronic entry, floor-to-ceiling windows with panoramic views of Miami’s famous skyline, a ceramic tile floor that looks like wood, quartz countertops, custom Italian cabinetry, and 75″ Smart TVs are just a few of the luxurious amenities found in each tastefully furnished designer residence. Visions at Brickell Station were designed by UNCG with in-unit wellness-focused luxuries such as advanced HVAC systems offering purified air and probiotic eco-sanitizing diffusion, nontoxic wall coverings, filtered water, aromatherapeutic diffusers, Vitamin C diffusion therapy showers, and lighting to relax and balance the mind. UNCG specializes in building communities that are both eco-friendly and wellness-certified.
Together with other private investors, the project is backed by V&V Investments, a Peruvian company. With more than 25 years of experience, V&V is the top real estate development company. The group’s total projects, which total more than $1.5 billion, span eleven portfolio projects in Aventura, Coral Gables, Fort Lauderdale, Port Charlotte, Cocoa Village, and now Brickell. V&V entered the U.S. market in 2021.
Approval Pending for Construction on 10 Story Residential Tower in Miami Beach
An application has been submitted for design review approval to build a new 10-story mixed-use building at 6940 Abbott Avenue, the location of a former BellSouth office and parking lot that is no longer in use in the North Beach neighborhood of Miami Beach. The application was filed by 6940 North Beach LLC, a joint venture between entities controlled by Rainer Viete, Jose Boschetti, and Eduardo Otaola.
The 130-foot-tall structure will feature 134,573 square feet of space, including 96 multi-family units, 21 of which would be co-living units, 2,192 square feet of ground floor retail, and 90 parking spaces. It was designed by Arquitectonica with Biscayne Engineering serving as the land surveyor and civil engineer.
Unit floor plans include studio, one, and two bedrooms. The regular size units would be between 550 and 1,250 square feet, while studio units (co-living) will be between 403 and 437 square feet. A cafe, fitness facility, pickle-ball court, and a lap pool will all be on the rooftop.
The traffic engineer is David Plummer & Associates, while the landscape architect is Christopher Cawley Landscape Architecture. The interior of the building will be thoroughly illuminated by natural light thanks to the use of grey glass windows and a glass railing. Mixing these materials will produce a striking, modern appearance that blends nicely with the nearby North Beach neighborhood. A stunning concrete frame with spherical motifs grouped in a bond-like pattern wraps around all elevations of the residential component of the building, emphasizing its distinctive form.
The development organization has also offered hurricane-proof impact windows, passive cooling systems, resilient planting, a study of the elevation of the property and the elevation of neighboring properties, and a recycling or salvage strategy for partial or complete deconstruction. To integrate the loading and parking driveways, they also ask for a waiver. The granting of this waiver will enable the project to be better designed while still adhering to the TC-C district’s development restrictions and without the requirement for variances. The project’s anticipated construction cost is approximately $14,692,224.
New Renderings Released for Shoma Bay in North Bay Village
New images of Shoma Bay, a 24-story mixed-use development proposed for 1850 79th Street Causeway in the waterfront neighborhood of North Bay Village, have been released by Miami-based developer Shoma Group.
The tower will feature 333 residential units, a 35,037-square-foot Publix, and 6,325 square feet of retail space, which includes a rooftop lounge and Shoma Bazaar food hall. It was designed by MSA Architects with interiors by Adriana Hoyos. The pedestrian-friendly location is close to all main freeways, stores, and food options at 79th Street Causeway and East Treasure Drive.
Each floor plan in the 2.8-acre mixed-use development’s furnished studios to three-bedroom units, with sizes ranging from 344 square feet to 2,700 square feet, was created to enhance functionality and comfort.
With only a few changes that improve the building’s appearance, the new tower design, which combines traditional art-deco and modern architecture, indicates a modest departure from the original design. The building now has a more contemporary appearance.
Amenities:
Resident lounge and bar
Spa
Hammam
Golf Simulators
Fitness center with Technogym equipment
Pet spa
Kid’s club
6,030 square foot pool deck
Panoramic views of Biscayne Bay
Pool
Cabanas
Summer kitchen
Library
2,600 square foot cowering business room
Lounge with coffee bar
Gaming area
Movie area
Gated parking
Electric vehicle charging stations
Specialized bike room
Storage areas
The construction of Shoma Bay is anticipated to begin in the summer of 2023 with a completion date in 2025.
Exclusive: Tom Brady and Gisele Bündchen’s Indian Creek Waterfront Mansion Construction Update
After 13 years of marriage, Tom Brady and Gisele Bündchen announced on Oct. 28 2022 that they officially divorced putting a pause on construction of their 5,000+ square foot teardown located on Indian Creek.
The Billionaire Bunker residence on Indian Creek Island was originally purchased by the couple in 2020, but their divorce was only finalized in late 2022. The estate, which sits atop a plot of land in the “world’s most exclusive municipality,” is arguably the most noteworthy of Tom Brady’s residences. It is one of just 34 properties with waterfront views of Biscayne Bay that are offered across 300 acres in South Florida’s Atlantic region.
The house was one of the nicest in the world, and Tom and Gisele were planning to live there forever with their kids, Benjamin Rein and Vivian Lake Brady. Although they are no longer together, the Tampa Bay Buccaneers quarterback has reportedly continued to develop and refurbish the property, according to The Daily Mail(opens in new tab).
Aerial images recently obtained by the British publication reveal that “production has advanced dramatically” since its initial inspection of the house in September 2022. To begin with, Tom and Gisele demolished a 5,772-square-foot house with the intention of building a contemporary, eco-friendly mansion on the property.
Gisele, a Goodwill Ambassador for the United Nations Environmental Program since 2009, knew she had to build an eco-friendly home.
Together with solar panels, an organic garden, a yoga deck, a cabana, and a sizable outdoor kitchen, the new estate will also contain these features.
Gisele Bündchen bought a lavish Florida home that is situated directly across the water from Tom’s mansion as he continues to develop. She also covertly paid $1.3 million for a cottage in Florida, which she began to remodel last year. Billionaires Bunker is close to her new residence (likely convenient for co-parenting with her former husband).
Ivanka Trump, Jared Kushner, and billionaire businessman Carl Icahn are some of the other noteworthy residents. Whenever building is finished, Tom Brady will live next to Icahn.
Why Choose Miami for Your Next Real Estate Venture?
The Miami real estate market is one of the most vibrant and dynamic in the country, with a wide range of properties available for buyers, sellers, and investors. Whether you’re looking for a luxurious waterfront mansion, a sleek and modern high-rise condominium, or a cozy single-family home, you’re sure to find something that fits your needs and budget in Miami.
One of the key factors driving the Miami real estate market is its location. The city is situated on the Atlantic coast of Florida, with easy access to beautiful beaches, world-class shopping and dining, and a wide range of recreational and cultural activities. This makes it a popular destination for both residents and visitors, which in turn helps to support a strong and stable real estate market.
Another important factor that contributes to the strength of the Miami real estate market is the city’s diverse and growing population. Miami is home to a large and diverse community of residents from all over the world, which helps to create a unique cultural scene. This diversity also makes Miami a popular destination for international buyers and investors, who are drawn to the city’s unique blend of cultures and styles.
Despite the ongoing global pandemic, the Miami real estate market has remained resilient and continues to thrive. In 2020, the prices for luxury real estate in Miami increased by around 20%, despite the economic downturn caused by the pandemic.
Miami is a fantastic place to buy, sell, or invest in real estate. With its location, growing population, and diverse range of properties, Miami offers something for everyone. Whether you’re looking for a primary residence, a vacation home, or a rental property, Miami is a great place to invest your money in real estate.
Tyler Herro of the Miami Heat has Purchased a $10.5 Million Mansion in Pinecrest
Miami Heat guard Tyler Herro just purchased a $10.5 million mansion in Pinecrest of Miami breaking a record for the highest home sold in the community.
The sale broke the Pinecrest record of $10.3 million set earlier this month by the sale of 6155 Southwest 106th Street.
Herro purchased the eight bedroom, eight and a half bathroom mansion located at Southwest 124th Street using a trust managed by Ronald Brown II, which was disclosed to belong to Herro.
Herro’s trust financed $7.4 million of the property from HSBC Bank.
The 9,500-square-foot home was built last year on a nearly 1-acre lot and was originally bought at $5.3 million for the property. According to the listing, the home has a gourmet kitchen, wine cellar, summer kitchen, cabana, pool, and media room. The original list price was at $11.9 million.
Herro recently agreed to terms with the Heat on a four-year, $120 million contract. After one year of college basketball at the University of Kentucky, the shooting guard was drafted by the franchise in 2019. Last season, he was named the NBA’s Sixth Man of the Year, an award given to the league’s best player who came off the bench as a substitute.
Pinecrest and the surrounding neighborhoods have been home to a number of Miami Heat players. A year after signing a four-year, $184 million contract extension with the Heat, all-star small forward Jimmy Butler paid $7.4 million for a home near South Miami in January. Butler sold his Pinecrest home for $7.1 million last year.
Former Miami Real Housewife Cristy Rice, the ex-wife of former Miami Heat player Glen Rice, paid $5.1 million for the home she shared with her ex-husband near Coral Gables and South Miami.
Further east on the ocean, Miami Heat President Pat Riley, dubbed “the Godfather” in the NBA, and his wife, Chris, sold their condo at the Four Seasons Residences at the Surf Club in Surfside for $22.8 million, or a South Florida record $5,775 per square foot.
The Residences at 1428 Brickell by Antonio Citterio: Renderings, Floor Plans, and Pricing
Introducing The Residences at 1428 Brickell by Antonio Citterio – the next generation of ultra-luxury living in Miami. If the name Antonio Citterio rings a bell, that’s because he’s the architect who designed the record-price-breaking Arte in Surfside. He’s also responsible for designing all Bulgari hotels worldwide.
Rising 70 stories high, The Residences at 1428 Brickell will have just 189 residential units, comprised of two- to four-bedroom-plus-den floor plans ranging in size from 1,800 to 4,000 interior square feet plus a Penthouse Collection with residences ranging in size from 4,000 to 10,000 interior square feet, including two behemoth penthouse with astonishing 30-foot-high ceilings. 25 percent of the building will be comprised of two-story residences, like the one shown in the rendering below, and all residences will be delivered FULLY finished, including flooring, closets, lighting, and window treatments.
The Residences at 1428 Brickell will be the FIRST residential tower in the world to be powered by solar energy. Over 500 photovoltaic-integrated glass panels along the west façade will create a “Solar Backbone” that comprises more than 20,000 square feet of energy-producing glass, providing residents up to 170,000 kilowatts of clean energy per year. Additionally, the building will feature an unprecedented 80,000 square feet of amenities, including a two-story rooftop observatory with a rooftop pool and rooftop lounge bar (Level 70), a two-story Owners Club (Level 67), a 10,000 square foot spa and fitness center (Level 66), and much, much more.
Price Ranges
2 Bedroom + Den from $2.38M
2 Bedrooms (Duplexes) from $2.91M
3 Bedrooms + Den from $3.72M
4 Bedrooms + Den from $5.52M
Penthouse Pricing: TBA
Deposit Schedule
5% due at Reservation (now)
5% due at Contract (approximately 3 weeks)
10% due 90 Days after Contract
10% due at Groundbreaking (estimated for Q1 2023)
10% due at Top-off
Balance at Closing (estimated for Q4 2026)
I’ve been selling real estate since 2005 and never have I seen a new construction development feature finishes of this caliber. Without a doubt, The Residences at 1428 Brickell will usher in a new era of luxury living in Miami. See the renderings below to judge for yourself. Contact me if you have an interest in reserving a residence. Sales launched this morning with a limited number of units released at Tier 1 pricing.
Zaha Hadid’s Former Condo Sells Again at $6 Million
World-renowned architect Zaha Hadid’s former W South Beach condo was just sold, AGAIN at $6 million.
Data reveals M. Reada “Ray” Bassiouni was the seller of the combined units 726, 728, and 730 at 2201 Collins Avenue, which was acquired by Thomas Robert and his wife Ann Chan, the owner of the security firm ATI Systems in Boston is Bassiouni. In Ponte Vedra Beach, Robert is the owner of GC Land Development LLC.
Records show that Bassiouni paid $5.8 million for the condo in 2018. The combined units feature 2,541 square feet of living space with three bedrooms and four bathrooms.
Since asking $8 million for the condo in March 2021, Bassiouni has intermittently offered it on the market. According to the Multiple Listing Service, the unit only brought in roughly $500,000 more than its previous asking price of $6.5 million.
Hadid designed the makeover herself after purchasing the apartments for $4.2 million in separate purchases over a five-year period. The Riverside Museum in Glasgow, the London Aquatics Centre for the 2012 Olympics, and Galaxy SOHO in Beijing were all designed by the Pritzker Prize-winning architect. When she passed away in Miami Beach in 2016, she was supervising the development of the Miami apartment complex One Thousand Museum that she had designed.
W South Beach is a luxury, oceanfront condo-hotel development located at 2201 Collins Avenue in Miami Beach, Florida. Built in 2009, W South Beach was developed by Tri Star Capital, Related Urban Development, and Starwood Properties.
With 300 feet of water frontage, W South Beach is considered to be one of South Beach’s finest residential developments. The W South Beach building was designed by award-winning architecture firm Nichols, Brosch, and Sandoval with interior design work by Yabu Pushelberg.
W South Beach rises 20 floors and includes 511 condo-hotel units comprised of studios, one-, two-, three-, and four-bedroom options plus penthouses.
