Miami’s Transformation: One Bayfront Plaza’s New Supertall Tower
Miami’s Building Department has issued a total demolition permit for the One Bayfront Plaza site at 100 South Biscayne Boulevard, marking a significant first step towards developing a new supertall tower in downtown Miami. Approved on March 27 and issued on June 25, this permit sets the stage for a major transformation in the heart of the city.
Currently, the site hosts a 19-story office building that occupies an entire city block, a significant presence in Miami’s downtown area. The demolition process, expected to take nine months to a year, will clear the way for a transformative project that will redefine the city’s skyline. Interior demolition has already begun, with B2 Group LLC handling the work under a permit valued at $2.4 million.
The property owner, Florida East Coast Realty (FECR), has ambitious plans for the site. They envision a landmark tower reaching 1,049 feet in height, featuring over three million square feet of mixed-use space. This includes class AAA office space, a luxury convention hotel, high-end residences, an upscale retail mall, and a parking garage, all offering 360-degree panoramic views over Biscayne Bay. Once completed, this tower will become Miami’s tallest building and the city’s second supertall, following the soon-to-rise Waldorf Astoria Hotel & Residences.
The new tower’s design is still under wraps, with previous concepts from renowned architects like Kohn Pedersen Fox and ODP Architecture & Design. While specific details are scarce, FECR has shared a low-resolution rendering of the proposed building, though the architect’s identity remains undisclosed.
Older renderings of supertall towers on the site:
One Bayfront Plaza, designed by ODP Architecture & Design.
One Bayfront Plaza, designed by Kohn Pedersen Fox and ODP Architecture & Design.
In recent years, the One Bayfront Plaza site has gained notoriety for its extensive graffiti. The abandoned building has served as a canvas for graffiti artists, particularly during major events like Art Basel. In December 2023, graffiti artists from around the world “bombed” the building, covering it with colorful tags and murals. This creative takeover highlighted the building’s vacancy and prominence as a visible site in downtown Miami, attracting both admiration and condemnation from the public.
The new tower is expected to bring significant economic benefits to the area, attracting businesses, tourists, and new residents. Its diverse range of uses aims to create a vibrant and dynamic environment, enhancing the appeal of downtown Miami as a premier destination for work, living, and leisure.
As the demolition process begins and the groundwork is laid for this new supertall tower, Miami is poised for a transformative development that will reshape its skyline and redefine its downtown area.
The Perigon Miami Beach Breaks Ground
Set to become the jewel of the coastline, The Perigon Miami Beach is a groundbreaking residential project that promises to redefine upscale living in one of the world’s most coveted destinations. Let’s take a closer look at what makes The Perigon a true masterpiece of architecture, design, and lifestyle.
The Perigon is the result of a visionary collaboration between Mast Capital and Starwood Capital Group, two powerhouses in the realm of real estate and investment. With a shared commitment to excellence, these partners have brought together the best in design, hospitality, and amenities to create a residential experience unlike any other.
At the heart of The Perigon’s allure is its stunning architecture, crafted by the renowned firm OMA, led by the visionary Rem Koolhaas. Designed as a series of buildings converged into one, The Perigon stands as a testament to innovation and creativity. With its unique façade and strategic orientation, every residence offers breathtaking views of the Atlantic Ocean, Biscayne Bay, and the Miami city skyline.
Designed by interior luminary Tara Bernerd, the residences boast a seamless blend of elegance and comfort. From the expansive living spaces to the wraparound terraces, every detail has been meticulously curated to create an unparalleled living experience.
Beyond its exquisite residences, The Perigon offers an array of five-star amenities designed to elevate the everyday. Indulge in world-class dining at the residents-only restaurant, savor craft cocktails in the private speakeasy, or rejuvenate body and soul at the ocean-view spa. With over 20,000 square feet of private amenity spaces, there’s no shortage of ways to relax, unwind, and indulge.
At The Perigon, luxury extends beyond the walls of your residence. With a dedicated lifestyle concierge and residential butler, every need is anticipated and met with the utmost care and attention to detail. Whether it’s arranging a private event or securing reservations at the city’s hottest spots, our team is here to ensure that every moment is nothing short of extraordinary.
As construction begins on The Perigon, anticipation is building for what promises to be a new icon on the Miami Beach skyline. With its visionary design, unrivaled amenities, and commitment to excellence, The Perigon is poised to redefine luxury living for generations to come. Stay tuned as we continue to share updates on this remarkable project, and get ready to experience the ultimate in coastal living at The Perigon Miami Beach.
Strategic Real Estate Moves: Boucher Brothers Clinch Nikki Beach in a Tense Miami Beach Vote
In the high-stakes world of real estate, where every decision can ripple through the financial markets, the Boucher Brothers have made a significant play. On September 27th, 2023, amidst the towering skyscrapers and the azure backdrop of Miami Beach, the City Commission convened. The agenda? The future of the coveted oceanfront property at 1 Ocean Drive, Miami Beach, Florida.
The Boucher Brothers, no strangers to the Miami Beach landscape, were vying for the Nikki Beach site. Their ambition was met with intense scrutiny and debate, echoing the boardrooms of Wall Street. The decision was not an easy one. City Manager Alina Hudak had put forth a recommendation, and after what can only be described as a nail-biting session, it was approved in a 4-3 vote.
Lending their support to the Boucher Brothers were Mayor Dan Gelber and Commissioners Ricky Arriola, David Richardson, and Kristen Rosen Gonzalez. On the other side of the aisle, Alex Fernandez, Steven Meiner, and Laura Dominguez voiced their reservations. Their concerns? Primarily procedural, with some pointing to earlier discussions around a no-bid agreement and advocating for a delay in the vote to allow for more public consultation.
For the hedge fund managers reading this, the intricacies of the deal are where things get interesting. The Boucher Brothers’ proposal is a 10-year commitment, promising the city a yearly contribution of 10% of gross operating revenue. In tangible terms, that’s a minimum of $4 million annually, with a 3% increment each year. The property itself is set to undergo a transformation, with a proposed $26 million in renovations. The vision includes a state-of-the-art pool, a wellness center and spa, a dedicated area for children, and a beach concession zone. Culinary enthusiasts will be pleased to hear of a collaboration with Major Food Group, bringing a Sadelle’s restaurant to the location.
However, the road to this decision was far from smooth. Legal challenges and intense negotiations marked every step. Earlier in the year, the City Commission had considered a non-binding term sheet with Boucher, hinting at a potential no-bid agreement. But in the face of significant criticism, they pivoted, seeking alternative proposals for the land and its adjacent beach area.
For those in the financial world, this move by the Boucher Brothers is more than just a real estate acquisition; it’s a testament to strategic planning, negotiation, and the ability to navigate complex landscapes. As the ink dries on this deal, one can’t help but wonder what ripple effects this will have on the broader investment landscape.
Co-founder of Luxury Brand Tory Burch Lists Waterfront Mansion in Miami Beach for $49 Million
Christopher Burch has offered his opulent mansion on Miami Beach’s famed North Bay Road for $49 million. He is the co-founder of the fashion label Tory Burch and the founder and CEO of Burch Creative Capital.
The property located at 5050 N. Bay Road features opulent living spaces, eight bedrooms, and eight full plus two partial bathrooms that perfectly capture South Florida living in the traditional post-modern style.
As you enter the main house, the wood paneling gives off a cozy, warm feeling. Each interior space features exquisite details, from the embroidered drapes and trims to the furniture and artwork. Look for a kitchen with a sizable dining room, a dedicated butler’s pantry with a rotisserie oven, a separate prep kitchen, and a breakfast nook.
The 1,500-square-foot guest house has two entrances and may be set up as four bedrooms, while it is now set up as two separate bedrooms with one living area each.
Beyond the fortifications, you’ll discover immaculately kept grounds next to expansive vistas of Biscayne Bay and 139 feet on the water with a large dock. A rear pool provides a gathering space with a covered grill and pizza oven. The pool next to the house features a hot tub, cold plunge, and steam rooms.
Shore Club Private Collection Secures $430 Million Construction Loan
Shore Club Private Collection, which is expected to be one of the fastest-selling luxury complexes in Miami Beach history, has closed on a $430 million construction financing from Witkoff Group, a Miami-based development and investment company, and Monroe Capital, a renowned asset management company.
The loan, which was provided by J.P. Morgan, is thought to be the biggest ever for a South Florida residential building project. Since its late January debut, sales have surpassed $550 million, and two-thirds of the inventory has been sold. As a result, Shore Club is prepared to start building later this year, with a 2026 completion date anticipated.
Shore Club Private Collection will house 49 houses created by the renowned New York-based firm Robert A.M. Stern Architects, building on the rich legacy of Miami Beach’s Art Deco and contemporary design style while also fostering a seamless link to its landmark site. Some of New York City’s most well-known structures were designed by this architect, including 15 Central Park West and 220 Central Park South. The three acres of coastal land where Shore Club will be located will have magnificent botanical gardens created by renowned landscape designer Nathan Browning of Island Planning Corporation.
The development, which features a brand-new structure from the ground up, The Tower, a recently renovated Art Deco structure that was first finished in 1939, The Cromwell House, and The Beach House, a distinctive single-family beach house, is Robert A.M. Stern’s first residential oceanfront project. In order to offer a product that is unique to the Miami market, each component was designed to maximize views and light in conjunction with the curve of each property. The interiors expand on this concept by drawing design cues from yachts as well as the patterns and motion of the waves and sand along Miami’s shoreline. On the architecture, RAMSA worked with Miami-based Kobi Karp Architecture & Interior Design.
The 20-story Tower offers two- to six-bedroom homes with floor-to-ceiling windows, artistically curving balconies, and sizes ranging from 1,900 to more than 10,000 square feet. The Tower offers breathtaking views of the Atlantic Ocean and sunsets, along with private and semi-private elevators and private terraces. The eight-story ancient Cromwell House will be renovated into four opulent homes, three of which will be duplexes, along with a penthouse. These four and five-bedroom residences will have a spacious full-floor penthouse as well as two-story great areas with spectacular double-height ceilings. The Beach House, which will measure 6,000 square feet with three outdoor spaces totaling more than 2,180 square feet, will be the sole private residence on Miami Beach’s oceanfront.
Together with Auberge Resorts Collection, we have a shared vision for reinventing the Shore Club Private Collection. Even though they are part of a five-star resort, the homes will offer solitude and seclusion while being maintained by Auberge. A discrete porte cochere entrance, three distinct swimming pools, including a private residential pool, a 75-foot lap pool, a leisure pool, a state-of-the-art fitness facility, a library, a lounge, and other amenities are among the unique services and amenities available to residents.
In addition to access to the world-class spa, concierge services, housekeeping, beach club, and culinary experiences, such as in-residence dining, house sommelier services, a signature restaurant, poolside café and bar with dedicated cabana service, double-height café and bar leading to an outdoor lounge, and more, Auberge Resorts Collection’s one-of-a-kind reputation for intimate tailored service will also extend to the residences with a variety of in-home offerings.
The starting price for Shore Club Private Collection is $6 million.
New Residential Project Approved in Miami Beach- 72 Park
72 Park, a condominium tower approved for short-term rentals that will be built in Miami Beach, has been announced by the NYC and Miami-based development company Lefferts. This will be the first new luxury tower on Miami Beach to allow vacation or short-term rentals when it is finished in early 2024.
The project will include 206 units with sizes ranging from 470 to 1,177 square feet and prices beginning in the $700,000s. In late July, 72 Park’s topping-off ceremony is anticipated to take place.
The stunning 22-story project by national architecture firm Built Form is situated at 580 72nd Street in Miami Beach. When finished, the opulent tower will provide residents with breathtaking 360-degree views of everything from Downtown Miami to the Intracoastal Waterway.
The LEED Gold-certified condominium tower features Jr., one-, two-, and three-bedroom units with spacious floor plans, high ceilings, deep balconies, Italian cabinetry, imported stone, and energy-efficient appliances. Urban Robots Associates designed the interiors and landscapes. Floor to ceiling, impact-resistant glass, keyless entry with SALTO and smart access controls, individually controlled central AC and heating systems, and high-end bathroom fixtures, hardware, and accessories will all be included in the fully furnished offerings for each unit. Five high-speed passenger elevators with access control and high-speed, fiber-optic Wi-Fi are examples of advanced smart building features.
Additionally, the building offers 64,000 square feet of amenities to its residents, including a large 35,000-square-foot amenity deck with nearly an acre of lush, tropical landscaping, a 150-foot-long resort-style pool with cabanas, a bar and lounge with indoor and outdoor seating, a state-of-the-art fitness center with yoga lounge, a 24/7 coworking lounge with private “pods,” a kids playroom, and a private outdoor barbecue area.
A double-height lobby with wraparound floor to ceiling windows displays 8,500 square feet of excellent ground-level retail space, including the upcoming Roberta’s restaurant and pizzeria by two-Michelin-starred chef Carlo Mirarchi.
72 Park is situated in a park, close to the Miami Beach Tennis Academy, North Shore Park, a vast indoor and outdoor sports and recreation complex with 12 tennis courts, pickleball courts, and two baseball diamonds, the Miami Beach Bandshell outdoor amphitheater, a historic cultural center, Normandy Shores Golf Club, and the new Miami Beach Aquatic Center and Park, which will house an Olympic-size pool, a community library, and a community center. Residents are offered beach service, which includes transportation and free use of recreational tools including Boogie Boards, paddleboards, bikes, and more.
Lefferts’ long-term commitment to reviving this Miami Beach neighborhood and ushering in a new age of investment and growth for one of the most sought-after coastal communities includes four residential complexes, including the project at 72 Park.
Location Ventures Breaks Ground on URBIN Miami Beach
URBIN Miami Beach has officially broken ground. With developer Location Ventures, the achievement signifies the start of construction for the first-to-market mixed-use brand, which mixes design-forward residential units for short- or long-term rental with coworking spaces, wellness amenities, social activations, and lifestyle-oriented retail, all at one central address.
For the official groundbreaking event, which took place at the project site, 1260 Washington Ave., Location Ventures, development partners, and city representatives, Miami Beach Commissioner Alex Fernandez, Washington Avenue Business Development Executive Director Troy Wright, and Miami Beach Mayor Dan Gelber were among the distinguished visitors.
The URBIN brand portfolio’s initial property, URBIN Miami Beach, has a second location in Coconut Grove, with ambitions to expand to other U.S. cities. Once completed, URBIN Miami Beach will be a 69-unit tower with a number of wonderful amenities.
The development sold out quickly and drew a wide range of buyers from Latin America and Europe. 90% of the homes at URBIN Coconut Grove have already been sold, and construction is scheduled to begin at that location in 2023.
The fully furnished units at URBIN Miami Beach range in size from 275 square feet for studios to 1,334 square feet for four bedrooms with partial ocean views. Community, collaboration, and networking will be facilitated via shared spaces, such as a common kitchen, dining area, and living room. Exclusive access to a lease-back arrangement allowing up to 90 nights per year on the property will be available to unit owners only.
Tower Amenities
Valet parking
Concierge
Housekeeping
Room service
Rooftop bar and lounge with green spaces
Wellness center
Gourmet market
Cafe
Bar
Rishi Kapoor, CEO of Location Ventures, stated “Following enormous sales interest, we are pleased to commence the construction process for the first URBIN location at a ripe point in Miami Beach’s history.” The rapidly developing, storied Washington Avenue sector will benefit from this property’s integration of living, working, and wellness into one space.
Touzet Studio, headed by Carlos Prio-Touzet and Jacqueline Gonzalez-Touzet, created URBIN Miami Beach. The building’s exterior will reflect the whimsical spirit of Miami Beach by incorporating geometric patterns and hues that are common to the area and paying homage to its Art Deco past.
The interiors of its communal areas and amenities were chosen by Meyer Davis, a renowned New York City design firm. The home is located in the largest Art Deco neighborhood in the world, two blocks from the ocean, and close to Ocean Drive and Lincoln Road.
Revealed: The Perigon Miami Beach
Mast Capital and Starwood Capital Group have officially launched sales of The Perigon, a luxury condo development planned for an oceanfront site in Miami Beach located at 5333 Collins Avenue.
After the City of Miami declared the existing La Costa Condo tower unsafe last summer, Mast Capital bought out the remaining units in an effort to move forward with The Perigon. The City of Miami’s declaration came shortly after the collapse of the Champlain Towers South in Surfside. Mast owns approximately 88.5% of the current tower leaving 14 unowned.
In June 2021, Mast filed the development plans for the property and the official approval came in December 2021. Rem Koolhaas is named as the architect for the project while Tara Bernerd is listed as the interior designer. The design resembles a series of towers merged together allowing the residents optimal views of Biscayne Bay, Miami skyline, and the Atlantic Ocean
The development will rise 17 stories and feature 83 total units, with 10 of those units labeled as ‘guest suites,’ which will only be available to purchase by unit owners.
Units will range from 2 to 4 bedroom floor plans with 2,100 to 6,700 square foot options. Units will start at $3 million and will feature a number of luxury amenities and residence features.
Services
Residential butler
Dedicated lifestyle concierge
24-hour security and valet service
House car
On-site general manager
In-residence dining and catering from a signature on-site restaurant
Home management services from cleaning and maintenance to floral and pantry stocking (available for additional costs)
Tower Amenities
Signature oceanfront restaurant by a celebrated chef exclusive to residents
Beachside swimming pool and outdoor spa with sunbeds and cabanas
Pool and beachside food and beverage service
Direct entry to the dedicated beach, equipped with lounge chairs, umbrellas, and service
Sprawling conservatory offering daily breakfast bar
Stylish cocktail lounge and speakeasy
Dramatic double-height lobby with open lounge area
Luxury guest suites for friends and family
Sunrise lounge with catering kitchen for entertaining and events
Private spa with sauna and treatment rooms
A state-of-the-art fitness center with a high-impact training room overlooking the Atlantic Ocean
Bespoke wine room
Private salon for personalized beauty services
Screening room
Imaginative children’s playroom
Intimate garden and meditation lounge areas overlooking the Atlantic
Bicycle storage
Residence Features
Direct, private elevator entry to each residence
Gracious 10-foot ceilings with floor-to-ceiling windows
Private 10- to 12-foot-deep terraces designed to provide direct views of the Atlantic from every residence
Expansive living, dining, and entertaining area accented with linear cove lighting
Custom Italian kitchens designed by Tara Bernerd & Partners featuring honed marble countertops, backsplash, and island
Sub-Zero Wolf Appliance Suite
Primary bathrooms feature natural stone flooring and walls, custom bathtub, bespoke mirrors, and light fixtures
Walk-in wardrobes in each bedroom
The building is expected to top off in 2024 with a completion date in 2025. If you or someone you know have an interest in purchasing at The Perigon Miami Beach, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
Official Plans Submitted for Riverside Wharf
In December 2021, it was announced that a Miami Developer along with Driftwood Capital announced plans the rebuild The Wharf alongside the Miami River. Now, those plans have officially been submitted to Miami’s Urban Development Review Board.
The plans for this project include a hotel and an entertainment complex with retail, food, and beverage. The cost for the project is estimated at $185 million. The plans submitted include 174 hotel units operated by Dream Hotels and 91,733 square feet of commercial space.
A 16,000-square-foot restaurant, a 12,000-square-foot event hall, a 30,000-square-foot nightclub/rooftop day club, and 600 feet of river frontage are all planned for the 200,000-square-foot project. Garcia’s Fish Market may also set up shop on the property as a pop-up market. Its commercial fishing activity used to be located on the property.
The zoning requirements for this type of proposal would include 417 parking spaces but the developers are requesting a 50% reduction in parking by the entertainment and hotel spaces sharing parking. Once approved, the parking spaces will be offsite.
A part of the proposed development includes public used land, which will require a special election. That election is currently scheduled for August 23 and it will involve a potential lease of the public property to the developer.
The 1.5-acre Miami River property at 114 Southwest North River Drive will be developed by MV Real Estate Holdings and its partner, Coral Gables-based Driftwood Capital. Nitin Motwani, the managing partner of Merrimac Ventures and the developer of the Miami Worldcenter, is also a general partner in the project, according to Mantecon.
The Miami Urban Development Review Board is scheduled to review the development proposal on March 16, 2022.
Cincinnati businessman, Josh Lehman recently sold his Miami Beach Mansion for $17.5 million. The waterfront mansion located on Hibiscus Island was sold 6 months after Lehman first purchased for a profit.
The buyer listed as Top Hibiscus LLC, an entity managed by Jose Carlos Pontes. Pontes is the head of Grupo Marquise a Brazilian-based construction company.
The mansion last sold for $15.5 million in May 2021 closing at a $2,850 per square foot. The current price closes close to $3,219 per square foot. The property was purchased with cash.
The property itself located at 160 S. Hibiscus Drive in Miami Beach features 5 bedrooms and 5.5 bathrooms totaling 5,427 square feet of living space. Upon entering, you immediately notice the tall ceilings, floating staircase, and the floor-to-ceiling sliding doors that lead to the exquisite back yard.
The waterfront mansion also features an Ornare custom kitchen, bar, spacious master suite with marble bath and Mia Cucina his/her closets. The exterior is complete with a rooftop deck, infinity edged pool with views of Biscayne Bay, outdoor bbq, and a 2 car garage.
The property was built earlier this year and the architect behind the modern design is Reinaldo Borges with interiors by Tara Nia Design. The home purchase also included a furniture package. The property also features a long dock for up to 38 foot boats.
Pontes, the purchaser of this property also sold another mansion that was located on Hibiscus Island in July 2021. That property located 150 S. Hibiscus was sold for $26.5 million.
