Turkish Developer Okan Group Launches Okan Tower in Downtown Miami
Turkish developer and leading enterprise Okan Group announced yesterday the official sales launch of its first U.S. development – Okan Tower. The distinctive architecture planned for the 70-story mixed-purpose property is meant to emulate the silhouette of a blossoming tulip (Turkey’s national flower). Located in Downtown Miami at 555 North Miami Avenue, this innovative addition to the Miami skyline will feature a 294-key hotel by Hilton Hotels & Resorts, 64,000 square feet of ‘Class A’ office space, 236 condo-hotel units starting on the 36th floor, 149 condominium residences starting on the 51st floor, plus four duplex penthouses.
Okan Group Chairman and billionaire, Bekir Okan, credits the city of Miami’s vibrant energy and international fusion for his choice in the project’s location. “It is with great pleasure that we unveil Okan Tower as we embark on a journey to present a bold real estate product in one of the world’s leading destinations,” he added. “In selecting our projects throughout the world, we always seek to establish an impact that will make history. Not only in its design but through its level of experiential elements, Okan Tower will have a transformative effect on the metropolis that will forever change Miami’s skyline”.
The architecture firm behind the tower’s bold design in tribute to Turkish culture is Behar Font & Partners. Okan Tower’s studio, one-, and two-bedroom condo-hotel units will be delivered turnkey furnished, ranging in size from 447 to 1,245 square feet, while its condo-residence offerings will include one- to three-bedroom units plus a den, ranging from 698 to over 2,071 square feet; and 4 duplex-style penthouses ranging from 1,873 to more than 2,142 square feet. Okan Tower will also offer world-class amenities, including high-speed elevators with separate access for various mixed-use components, a sky pool with panoramic views from the 70th floor, outdoor lounge, Hammam spa, state-of-the-art health and fitness center, kids’ playroom, chef and gastro kitchen, movie theater, wine cellar and cigar room, as well as a rooftop restaurant located on the 67th floor.
There’s no doubt that this project will cater to the taste of the foreign buyers so highly accounted for in the past several years of Miami’s residential real estate sales. A 3,000 square-foot sales gallery for the tower already opened in Istanbul, Turkey on May 2nd, complete with a full model residence. The U.S. sales gallery will open on May 10th. Promising sophistication and convenience, Okan Tower’s location is close in proximity to business, entertainment, culture, and the arts – with Perez Art Museum, Phillip and Patricia Frost Museum of Science, American Airlines, the upcoming Miami Worldcenter, and the Brightline Train all within blocks.
Privately funded, the project is already slated to break ground this fall. Pricing for units at Okan Tower starts from $318,500.
A First Look Inside the Recently Completed Paraiso Bay
One cannot help but be awestruck by the rapid transformation taking place throughout Miami’s Edgewater neighborhood. Compared to just five years ago, it has grown tremendously in terms of development and density. With the pending completion of Related Group’s Paraiso District, Edgewater is about to get a whole lot bigger.
Paraiso District is Related Group’s largest residential development outside of New York City. The private, gated complex is situated on a close to five acre site with 500 feet of water frontage. It also includes a beach club (appropriately named Paraiso Beach Club), which is exclusive to Paraiso residents, as well as a waterfront restaurant by James Beard Award-winning Chef Michael Schwartz called Amara at Paraiso. In terms of density, however, Paraiso District, with less than 1,400 total units, will be smaller than Related’s second largest residential development – Icon Brickell.
Earlier this month, closings began for units at Paraiso Bay – the first of four towers comprising Edgewater’s Paraiso District. The other three towers – Paraiso Bayviews, GranParaiso, and One Paraiso – will all be completed and delivered by year-end.
A few weeks ago, I met up once again with Related’s President of Condominium Division Carlos Rosso – this time for a grand tour of the Paraiso District grounds and recently completed Paraiso Bay. Paraiso Bay is a 55-story tower designed by Arquitectonica. It has 346 total units, each offering direct, unobstructed views of Biscayne Bay. Paraiso Bay has a laundry list of amenities which include: clubroom with billiards, catering kitchen, and multimedia facilities; state-of-the-art fitness center; full-service spa with men’s and women’s steam and sauna facilities; private screening room with state-of-the-art audio/visual equipment and theater-style seating; wine cellar and tasting salon; children’s playroom; teen’s game room; resort deck with circular, zero-entry heated pool, outdoor spa, poolside cabanas, and summer kitchen area; tennis center with 2 lighted tennis courts and multipurpose court; beach club; 24-hour concierge; and 24-hour valet parking. Additionally, residents of Paraiso Bay and GranParaiso will share a 2-lane bowling alley and full-service bar below their shared resort deck. At the time of my tour, I was told that just 25 percent of the amenities had been delivered. Keep that in mind when viewing the photos below…75 percent of the amenities are still in the works!
Just Listed – 3 Bedroom Condo at SLS Lux – Asking $935,000
“Better act fast” is a cliché sales pitch that has been used for generations…but for my newest listing, you better! On Friday, I listed for sale unit 2009 at SLS Lux – a luxurious 3 Bedroom, 3 Bathroom condo with 2,147 total square feet (1,657 interior square feet + 490 square feet of balcony) and 3 parking spaces (1 assigned + 1 parking lift + 1 valet space). Within 24 hours of being listed, I received an offer…and for good reason! At $935,000, the unit is priced very aggressively; it’s priced better than four of the five 2 bedroom residences currently on the market (keep in mind, unit 2009 is a 3 Bed, 3 Bath residence), and priced considerably better than any of the other 3 bedroom residences that are listed for sale. Besides unit 2009, there are currently two other 3 Bedroom residences listed for sale. The first is located one floor lower than unit 2009 and asking $1.19M, and the second is located four floors lower than unit 2009 and asking $1.375M. If you’re looking for a deal, this is it! Contact me if you have any questions or would like to schedule a time to view the unit before Tuesday. I may be reached via email at [email protected] or by phone at 786-247-6332.
SLS Lux is a full amenities building located in the heart of Brickell at 801 South Miami Avenue. The amenities at SLS Lux include: expansive pool deck on the 9th floor with cabanas and poolside bar, rooftop pool and sundeck located on the 57th floor, BBQ area with summer kitchen, lighted tennis court, club room, full-service spa, state-of-the-art fitness center, full-service concierge, children’s playroom, outdoor theater, rock climbing wall, executive business center, and much, much more.
The condo dues for unit 2009 are $1,101 per month. That amount includes high-speed internet, cable TV, water, and use of all building amenities. The assigned parking space and parking lift are located on the 2nd floor.
The Views from Atop the One Thousand Museum Helipad
For those who missed it on our Social Media Feed a few weeks ago, the Miami Condo Investments team was given a VIP tour of the recently finished helipad at One Thousand Museum. Once completed, One Thousand Museum will be the first residential tower in Miami to ever include a helipad. As you could imagine, at a height of 709 feet, the views from atop One Thousand Museum are phenomenal; too good not to share, so here you go:
If you’re anything like me, you’ve been counting the days until the opening of SLS Lux. It’s been a long time in the making, but I’m happy to report that it was well worth the wait. Related has once again delivered what is certain to be a neighborhood favorite!
Earlier this week, I had the distinct pleasure of touring Related’s latest project with Carlos Rosso himself – the company’s President of Condominium Development Division and very familiar face to all of us in the Miami real estate world.
Carlos and I met in the strikingly beautiful Hotel lobby with mirrored backdrop, rich textures, and eclectic décor reminiscent of those found at the St. Regis in Bal Harbour. “We used the same interior designer we used at St. Regis – the master of luxury, Yabu Pushelberg,” Carlos added, “[whose] inspiration was the old mansions from Havana, Cartagena, and the Caribbean, with high ceilings, patterned marble flooring, and lots of lush landscape…a glamorous, tropical setting”.
Passing through the Hotel lobby, we then entered the grandiose S-Bar, punctuated outside by a giant “Male Torso” sculpture by Botero, valued at $3M and wholly-owned by the building. Only three of its kind exist in the entire world: one in Paris, one in Buenos Aires, and now one in Miami. “The owners at SLS Lux can brag that they now own a unique Botero sculpture,” Rosso quipped. He expects S-Bar to become Brickell’s happening place. “We want it to become Miami’s high-end bar…a place where deals will be closed over great cocktails”.
From S-Bar, we then made our way into Katsuya – a high-end sushi restaurant with impressive décor and attention to detail. From the sake cup screens to the incredible dark rich woods accentuated by the four gigantic globes hanging from the ceiling, this restaurant is sure to impress!
For some time, Related has been pushing the idea of converting South Miami Avenue into a pedestrian-only street on Friday and Saturday nights. “It’s time to make South Miami Avenue into Brickell’s own Lincoln Road,” Rosso said. “Look at what Bloomberg did with Time Square in New York – that is the future of urban open space.” With the addition of S-Bar and Katsuya, both located towards the northern end of South Miami Avenue, the walkability of that thoroughfare will no doubt increase. S-Bar and Katsuya are both slated to open in June.
SLS Lux Amenities
After the quick, yet thorough tour of the Hotel lobby and restaurants, Carlos led the way to the 9th floor amenities deck where most of the building’s amenities are located, including two pools, SLS Lux poolside bar, cabanas, tennis court, club room, private dining room, billiards room, spa, and fitness center. The photos below speak for themselves.
pool deck with cabanas
2 pools
SLS Lux poolside bar
club room
private dining room
billiards room
billiards room
garden terrace
fitness center
fitness center
treatment room
SLS Lux also has a rooftop pool and sky lounge (for residents only) but both were a work-in-progress and awaiting a temporary certificate of occupany (TCO) when I toured the building this past Monday. TCO is expected to be received for those floors within the next couple of weeks.
SLS Lux 3 Bedroom Condo
To complete my tour of SLS Lux, I was shown a 3 bedroom units located on the southwest corner of the building (the 01 line). Important to note is that each unit at SLS Lux comes completely finished, including flooring, shades, and closets. A one-year free membership to Equinox Brickell Heights comes included as well.
living room w/ upgraded kitchen shown
views south from the living room and kitchen
master bedroom
second bedroom
second bedroom
The Future
And Related’s grand plan for Brickell doesn’t end there. “This is the new Brickell – vibrant, full of pedestrians with active ground floor retail and restaurants and lots of residents embracing urban life,” added Rosso. “We are certainly building the new Miami. The vision will be complete when we launch 444 Brickell connecting South Miami Avenue to the Riverwalk”.
“When will you launch?” I inquired.
“As soon as we feel the time is right. It’s a very special project with a luxury anchor in Miami’s best site.”
I’m sure more news will follow, but it certainly feels that Related has an unbound willingness to continue being the leader in masterminding Miami’s urban future. After touring SLS Lux, Katsuya, and S-Bar, I’m excited see what these guys have planned for 444 Brickell.
Palazzo Della Luna Launches Sales with Interiors Designed by Champalimaud Design
Following the great success of Palazzo Del Sol (named 2017-2018’s “Best Residential Development in the United States” by International Property Awards), the project’s second phase, Palazzo Della Luna, has officially launched sales! This ultra-luxury condominium is located on the last remaining waterfront parcel of Miami’s ultra-exclusive Fisher Island, accessible only via the island’s own auto-ferry or private yacht.
While the interiors at Palazzo Del Sol were designed by award-winning duo Alison Antrobus and Ruby Ramirez, Palazzo Della Luna will feature interiors designed by New York-based firm Champalimaud Design. It will be the firm’s first-ever completed project in Miami. Both towers are led by PDS Development LLC with architecture by Miami-based Kobi Karp and landscape architecture by Enzo Enea.
The two-part development incorporates the island’s Mediterranean design into an aesthetic that is sophisticated, yet contemporary. “The design of Palazzo Della Luna embraces the tranquil and natural environment of Fisher Island, creating a lifestyle experience that emphasizes refined living,” says Winston Kong, Partner at Champalimaud Design. “By crafting a series of spaces that are epicurean yet subdued, and curating bespoke finishes, the public realm provides a sense of ‘luxury upon arrival’ while the residences become havens of serenity. Material choices such as plaster bas relief, gilded glass, statuary marble, terrazzo, and cerused oak contribute to an atmosphere of understated elegance and ease with just the right touch of indulgence.”
Residences will feature only the finest of finishes, private elevator entry, European oak wood flooring throughout open floor plans, and deep terraces overlooking stunning, panoramic views. Their Lualdi doors, BOFFI kitchens with Miele appliances and Sub-Zero refrigeration, and BOFFI master bathrooms exude the highest quality of interiors. The building will also offer three penthouses featuring 15 foot ceilings and Viking outdoor summer kitchens, each with a private stainless-steel pool and outdoor shower, in addition to four ground-floor lanai residences, three of which will enjoy their own private pools.
Seemingly endless amenities at Palazzo Della Luna will include a waterfront lobby lounge with butler-serviced aperitivo bar, a beauty salon, private massage and treatment suites, a media room, business center, children’s playroom, and a fitness center by The Wright Fit. A lush Central Park will connect Palazzo Della Luna and Palazzo Del Sol with tea gardens, a croquet lawn, bocce ball court, and a serenity yoga lawn. The residents of both sister properties will enjoy sunrise and sunset infinity-edge pools, a pool bar with towel and refreshment service, his & her spa cabana with sauna, steam, and shower, and spacious pool terraces with nine poolside cabanas available for purchase.
Boasting white-glove multi-lingual concierge service, Palazzo Della Luna will offer boutique condominium living with the highest level of luxury. The 10-story tower will feature 50 three- to seven-bedroom waterfront residences priced from $6.5 million to $40 million, and is currently slated for completion in summer 2019. For more information about Palazzo Della Luna or to schedule your personal sales presentation, please contact [email protected] or 305-428-3860.
Pricing, Floor Plans and Renderings for Una Residences by Adrian Smith + Gordon Gill
New construction is coming to “Old Brickell”! We are pleased to introduce Una Residences, Brickell’s only bayfront preconstruction condo development. Once completed, Una will be the first waterfront development built in South Brickell (south of SE 15th Road) in over 20 years.
Una Residences is being developed by OKO Group, which is also developing Missoni Baia in Edgewater, and Cain International. The design architect for Una Residences is Adrian Smith + Gordon Gill Architecture (AS+GG). They will also be designing the interiors and common area spaces at Una Residences. The landscape architect for Una is Enzo Enea with Revuelta Architecture International acting as executive architect.
Una will rise 45 floors and have only 135 luxury condo residences, each with private elevator, chef’s kitchen, 10′-8″ high ceilings with floor-to-ceiling windows, and fabulous water views. Una will be comprised of two-, three-, four-, and five-bedroom residences ranging in size from 1,100 to 4,786 interior square feet. The development will be topped off with two spectacular penthouses, each with a private pool and 11′-7″ to 12′-4″ high ceilings.
During this Friends & Family pricing period, prices for units at Una range from $900,000 to over $5,000,000.
Additional Renderings of Una by Adrian Smith + Gordon Gill (AS+GG)
Una Residences Floor Plans
Una Residences Fact Sheet
Buyer Deposit Schedule for Una Residences by Adrian Smith + Gordon Gill (AS+GG)
One Thousand Museum Tops Off; Stunning New Renderings Released
Sky Lounge
On February 3, 2018, One Thousand Museum officially topped off, marking a major milestone not only for construction of the elaborate and intricately designed tower, but also for the city’s ever-expanding skyline. “We’re now one step closer to revealing Zaha Hadid’s forward-thinking design,” says co-developer Louis Birdman. “Even in its current state, the building already stands out as the most iconic architectural work on Miami’s skyline. We’re excited to have developed something so unique and special for Miami.”
The developers of One Thousand Museum will celebrate their milestone accomplishment this week with a private evening event on the rooftop of the Frost Science Museum, located across the street from the project. Attendees will enjoy unobstructed views of the tower, flowing champagne, and passed hors d’oeuvres.
The process of constructing One Thousand Museum has been arguably one of the world’s most challenging builds. According to a recent press release, “the project’s curved exoskeleton is comprised of 5,000 pieces of lightweight glass-fiber reinforced concrete (GFRC) manufactured in and imported from Dubai. This is the first skyscraper in the world to utilize GFRC as a permanent formwork in the construction of the tower’s structure.”
While developer Louis Birdman had the foresight for One Thousand Museum and Pritzker Prize winning architect Zaha Hadid had the vision, general contracting firm Plaza Construction played an instrumental role in making both a reality. “This is a project that will not only enhance Miami’s skyline, but also redefine the standard of luxury for residential projects,” said Brad Meltzer, President of Plaza. “We do not shy away from challenging projects, as such we were immediately interested when we saw the overall complexity of the job. To date, the project team has faced some major tests, but the project has remained on schedule and we’re looking forward to the successful completion.” To learn more about the complexity of this groundbreaking process, make sure to watch “The Scorpion Tower” episode of Impossible Builds, a PBS documentary featuring 1000 Museum.
Now that the “heavy lifting” has been completed, it’s time for the building’s interior build-out to begin. For those who can’t wait to see the finished product, perhaps these newly released renderings will sate your appetite. Enjoy!
aquatic center
fitness center
spa
sauna
lobby
pool deck
pool deck
Miami Leads the Way as Foreign Investment in U.S. Real Estate Hits All-Time High
According to a recent report by Beauchamp Estates, the U.S. real estate market saw an influx of international investment with a new record high. Between March 2016 and March 2017, non-resident foreign sales for properties $1 million and up reached a total of $7.48 billion, a 72% increase from the prior year.
Nearly 40% of international buyer transactions came from three cities: Miami, Los Angeles, and Manhattan. Out of those three cities, Miami led the way, boasting 26% of the total international buyer transactions. 95% of those were purchased in cash. It’s no surprise that Miami luxury real estate is currently dominated by international buyers, with a whopping 80% of all properties over $1 million owned by foreigners.
According to Gary Hersham, managing director at Beauchamp Estates, “Miami is a leading hub for overseas buyers investing in U.S. luxury real estate. Alongside the beaches, restaurants/bars, leisure facilities and all year good weather, the City has become a leading financial and tech business hub.”
The report also offers figures of predicted growth in ultra-high net worth individuals from 2016 through the year 2026. For Miami, Beauchamp Estates estimates this figure will grow from 750 to 1,050 – a 40% increase! As the economy continues to improve, these predictions give us a clear picture of a very bright future for Miami luxury real estate.
