Legacy Hotel & Residences began selling in late 2019 and despite the pandemic, it is already entirely pre-sold, with $160 million in sales.
The luxury tower located at 942 Northeast First Avenue, will rise 55 stories making it the second tallest tower at Miami Worldcener. This mixed-use development will feature 310 residential units, 219 luxury hotel rooms, a business center, a medical office, retail space, and a rooftop atrium.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO
In December 2021, the developers for Legacy secured the construction financing marking it as the third-largest construction loan ever made in Florida at $334 million.
Construction is anticipated to be complete in 2024.
Avalon Merrick Park Tower Under Construction in Miami
Photo Credit: L & R Structural Corp., Inc.
Avalon Merrick Park is a new construction apartment tower located at 3811 Shipping Avenue in Miami. The 20-story tower will be located near the Douglas Road Metrorail Station.
When it was originally proposed by the developer, Mast Capital, it was named Shipping Avenue Apartments. After AvalonBay Communities purchased the properties for $12.9 million, AvalonBay entered into a joint venture on the project after Mast Capital took it through the approval process. Mast will remain a partner and is the co-developer for this project.
The shell contractor is L&R Structural and the architect will include Arquitectonica.
Avalon Merrick Park will feature 254 residential units with a studio to 3 bedroom floor plan options. The tower will also include 10,000 + square feet of amenities with the main floor housing 825 square feet of retail space. An 8-story attached garage will feature 319 parking spaces.
Building Amenities
State-of-the-art fitness center with professional-grade cardio and strength equipment
Rooftop, resort-style pool and sundeck with BBQ area and seating
Pet-friendly living with WAG Pet Spa
Coworking space including workspace pods and reservable conference rooms
WiFi access available in common areas
Package lockers for 24/7 package acceptance
Smoke-free living
Controlled access garage parking
Bike storage
Easily accessible to retail and dining, including the Shops at Merrick Park
One mile to Coral Gables and convenient to Downtown Miami, Brickell, and Coconut Grove
Residence Amenities
Studio, one, two, and three-bedroom floor plans
Modern kitchens with quartz countertops, tile backsplash, stainless steel appliances, LED lighting, and hard surface flooring
Washer/Dryer in all homes
Walk-in closets
Air conditioning
Avalon Merrick Park is centrally located near retail, shopping, and dining. Located 1 mile from Coral Gables and 5 miles from downtown Miami. Leasing begins in 2023 with construction completion in early 2024.
Eighty Seven Park Goes Vertical In North Beach
Pritzker Prize-winning starchitect, Renzo Piano’s 87 Park will soon rise from the site just north of North Shore Park in Miami Beach. The developer, Terra Group, has finalized their construction loan and completed the 300 foundation pilings necessary to start bringing the 18 story project vertical.
Sales were launched in 2016, attracting the likes of Michael Huffington, the Conde Nast family and tennis star Novak Djokovic, all of whom are among the buyers in the 66 unit project that is now 60% sold. The boutique tower was named based upon it’s location, nestled between two parks at 87th Street and Collins.
The 35 acre North Shore Park to the South is set to be redeveloped with money contributed by the developer. This park will be shared with the public, but a more secluded park will also be available only to residents. Each of the 66 apartments will come with a key to the door and a key to the park, much the way New Yorkers covet a key to Gramercy Park. The private key park will be built by the designers of the new New York Governor’s Island.
Prices start at $1.7 million up to $45 million for the penthouse, which comes with a rooftop terrace and private pool overlooking the ocean.
Mast Capital’s Louver House Closings Have Begun In South of Fifth
Mast Capital’s first Miami Beach condo project has successfully opened, with closings beginning this past week. Louver House brings 12 luxury apartments to Miami Beach’s South of Fifth neighborhood, while paying homage to the history of Meridian Avenue.
The project was designed by award-winning Miami architect, Rene Gonzalez, who sought to incorporate the residents’ desire for privacy with their love of the outdoors. The building’s signature architectural detail, the louvers, serve to offer beauty, privacy, shade and fresh air.
“We’re excited to finally present Louver House because it has all the key elements buyers are looking for in today’s luxury residential real estate market,” says Camilo Miguel Jr., CEO of Mast Capital. “To us, luxury is about amazing finishes, expansive spaces and the ability to enjoy a sense of privacy. This building offers a unique lifestyle that places residents in one of Miami Beach’s most exciting neighborhoods, but because of its small scale, also serves as an exclusive, family-friendly enclave.”
Although the closings began this past week, the official opening celebration will be held on August 24th, highlighting the rooftop deck overlooking South of Fifth and the Art Deco District. Three purchase opportunities remain, each one a three bedroom priced between $2.575 million to $3.4 million. We are excited to tour this week and be able to compare renderings to real life!
Photo Tour: $34 Million Miami Beach Home With Rooftop Water Slide Finds A Buyer
It is fun for the whole family! Last week, we took a photo tour of one of my favorite old Miami Beach homes, and this week we get to go on a photo tour of one of my favorite new Miami Beach homes!
This newly built home at 4555 Pine Tree Drive has 16,000 square feet of living space and an additional 3,000 square feet of outdoor living space. Even indoors though, you are able to open the sliding glass walls to give an indoor/outdoor feel and maximize your enjoyment of Miami’s fabulous climate. In total, the home has 6 bedrooms and 7 bathrooms plus 2 powder rooms. Elements of the home include stunning views of the Atlantic Ocean from the master bedroom, a water slide concealed by an elegant glass staircase, a pool with open views and a boat dock that will be built to suit the buyers’ preferences.
We won’t have word until after the closing of who the buyer is or how much the property ultimately sells for, but you can rest assured we will be watching and waiting.
Bloomberg Calls Kobi Karp Miami’s Mega-Mansion Architect of Choice, Apparently
If you’re involved in the Miami architecture or real estate scene, then you probably have an opinion about one of its most prolific architects, Kobi Karp. Love him or hate him, his work is everywhere, including some of the most massive houses designed in Miami and Miami Beach in the last five years. Is he the the Stanford White of modern day Miami? Ha! No. But Bloomberg interviewed him, in an article published today, calling him Miami’s “mega mansion architect of choice.” The article is about all the over-the-top amenities that many of Miami’s richest homeowners want in a brand new stucco castle by the bay, and in that sense Kobi probably is the expert. Here are some of his most memorable quotes:
“What became apparent is that the individuals coming to Miami wanted a home that didn’t exist.”
Photos via Kobi Karp.
“Some people who have a lot of entertainment, a lot of parties, they want to break away [to the rooftop where] you’re the VIP, you’re up above the treetops…They might have a plunge pool or jacuzzi, but certainly a summer kitchen [and often seating elements called] waterproof poufs.”
“Nobody [in Miami] wants to see a light fixture, unless it’s decorative.”
“Ninety percent of my houses have elevators. When you’re a little bit old, or a little bit drunk, an elevator really helps.”
And not to mention that he always likes to include a poolside “cabana or casita.”
