1.3 Million Square Foot Development is in the Works for Aventura

In Aventura, developer Dan Kodsi is planning to build a large mixed-use building featuring residences, offices, and high-end residential shopping. Kodsi’s company paid $39.1 million for 9.6 acres on the northwest corner of Biscayne Boulevard and Northeast 213th Street that they plan on building this mixed-use property.

Not only is this site being used for this massive mixed-use project but other lots in the area are currently under contract. These lots include 10 acres surrounding the development site.

Kodsi hasn’t named partners in the project or for the additional sites but stated that the project would cost over $500 million. According to Kodsi, the total site now consists of land and tiny residential structures that Aventura-based Rieber Developments successfully rezoned to allow for 1.3 million square feet of mixed-use development.

Aventura commissioners approved the zoning amendment in June 2021, permitting a 693-unit high-rise residential building; a 120-key hotel; 67,743 square feet of workplaces; 161,270 square feet of retail; and a 120-bed assisted-living facility.

Kodsi has yet to determine whether he would adhere to these guidelines or revise the development plans. According to him, the basic concept is for multifamily, offices, some of which will be used for medical purposes, and high street retail, which will serve as an alternative to the neighboring Aventura Mall.

The retail side of this development will be similar to the Miami Worldcenter but not as large. Kodsi constructed the Paramount Miami Worldcenter and is now building the Legacy Hotel & Residences at Miami Worldcenter.

Mast Capital Unveils Plans for a 3 Tower Development in Brickell: Cipriani Residences Miami

Another development has just been announced and this one is massive. Coming in at 2.6 million square feet, plans for this 3 tower development in Brickell have been revealed: Cipriani Residences Miami. Developer, Mast Capital paid $103 million mark this transaction as one of the largest in Miami-Dade in 2021.

Mast Capital’s proposal for the site involves a master-planned development that will comprise of 400-unit condominium tower and two more high-rises totaling 850 premium apartment rentals, created in collaboration with Rockpoint Group.

The property located at 1420 S. Miami Ave, has been inactive for over 15 years following two failed development initiatives. This property is one of the last remaining raw pieces of land accessible in the vicinity to undertake a project of this magnitude.

Development Information:

• One 80 story condo tower
• Two multifamily towers (one at 50 stories and one at 60 stories)
• 1,250 residential units
  • 400 condo units
  • 850 rentals
• 1,650 parking spaces
• Ground floor retail

For this specific project, Mast Capital has partnered with a private real estate equity firm, Rockpoint, which will be responsible for the multifamily component. Mast Capital will be utilizing MSD and CanAm for financing. Arquitectonica will be the architect for the proposed tower.

The developer is expecting a sellout of approximately $1 billion. The groundbreaking is anticipated for the end of 2022 with a top-off date in 2025.

Rooftop Cinema Club is Coming to South Beach

Set to debut this spring will be the first rooftop movie theater in Miami, offering a new experience to the film business. Rooftop Cinema Club is located at 1212 Lincoln Road in the center of Miami Beach, offering spectacular views not only on the big scene but of the city from every angle.

This isn’t the only rooftop movie theater of its kind! Rooftop Cinema Club has locations in New York, San Diego, Houston, Los Angeles, and London. Rooftop Cinema Club South Beach will debut with an 18-and-up age limit, with the possibility of more family-oriented movies in the future.

Guests will be able to view some of their favorite films from golden hour till dark, with several screenings taking place every day. The theater will screen a mix of genres, including old-school classics, cult films, and new releases. The programming schedule includes films such as Mean Girls, Dirty Dancing, 10 Things I Hate About You, and Pulp Fiction.

Guests will be able to enjoy all of the theater’s iconic movie snacks as well as a customized food and beverage menu

As far as seating, you will have the ability to choose between a single lounge seat or an Adirondack chair for the movie. A massive LED screen gives the film’s crispest video, combined with wireless headphones for great audio and each guest’s preferred volume level.

According to Rooftop Cinema Club’s website, they are much more than just a movie theater. The brand has evolved to include a social and outdoor component that will leave you with an unbelievable experience. You will not want to go back to the standard movie theater!

Most Romantic and Unique Miami Restaurants to Book this Valentines Day

With Valentine’s Day falling on a Monday this year, you’re probably trying to decide what day to celebrate this year’s romantic occasion. While we can’t help you choose the day, we can help with dinner!

This year we have compiled some of the most unique and romantic restaurants that we love and that we think you’ll love too.

Sexy Fish

Sexy Fish’s menu is a work of art, featuring classics influenced by Asia and Japan. Bjoern Weissgerber, the Chef Director, has produced delectable dishes such as Duck Salad, Smoked Tuna Belly, Black Cod, King Crab, Bone Marrow, and crispy Eringi Mushroom. Don’t miss the Sexy Gold Fish or Crispy Caviar with gold-flake sea bass marinade. There is also a large wine and champagne selection, as well as unique cocktails such as Chocolate and Wine, Yuzu, and Elderflower.

Sexy Fish, designed by SeaVisions, exudes an aquatic ambiance with a big-lit fish tank that spans the wall of the private dining room and serves as the restaurant’s focus. Throughout, you’ll find stunning artwork by Damien Hirst as well as 26 bespoke fish lights designed by Frank Gehry. Click here to make reservations or browse the menu.

ZZ’s Sushi Bar

ZZ’s Sushi Bar menu includes classic tuna and salmon selections, as well as unique salads and Wagyu meat. ZZ’s also has the greatest assortment of Wagyu beef in the country. Don’t miss out on one of their most well-known specialty dishes, the Caviar Temaki.

The first level is bursting at the seams with bentwood banquettes, sculptural, handpainted finishes, and animal print rugs. Every surface is adorned with antique furniture and brass lights. The terrace is dubbed a “tiki bar on acid,” with wicker furniture and banana prints complementing the futuristic building.

Although ZZ’s is advertised as a member-only restaurant, there is an optional invite-only membership available, so as long as you can secure a reservation, you may enjoy all of the amenities that a member does! Click here to make reservations or browse the menu.

Carbone

Carbone has become a South Beach neighborhood mainstay in such a short time, thanks to its exceptional food, retro-style French décor, and landmark location. Raw-bar platters with stone crab claws, crab knuckle sandwiches, spicy rigatoni, or veal parmigiana are some of our favorite menu items.

The sumptuous Ken Fulk design, as well as the Captains dressed in Zac Posen tuxedos, guide clients through menu selections, and salads are produced tableside for the entire Carbone experience. The atmosphere continues with intimate tables, low lighting, and classic French and Italian music playing. Did we forget to say it’s Michelin-stared? To make a reservation or to browse the menu, click here.

Elcielo

Located in Brickell, Elcielo features modern yet classic Colombian dishes. Chef Juan Manual Barrientos uses an avant-garde approach to cooking the signature Latin dishes. Barrientos utilizes small and medium plates that feature avocado tempura, Colombian Arepas, Tuna Tartare, and Yuca Gnocchi.

The delectable food is served with breathtaking river views and stylish décor enhanced with flora, leather, and wood. Private dining experiences for couples or groups are provided in VIP lounges. The Experience menu will have more than 22 moments.

The Waterfront Terrace is great for special occasions and gatherings. Enjoy our a la carte food and beverages while listening to upbeat music, surrounded by palm trees and flora, the breeze, and river views. Check out the menu or make a reservation here.

Cote Miami

Executive Chef David Shim, a native of Seoul, South Korea, is responsible for the one-of-a-kind masterpieces at Cote Miami. Shim acquired expertise and recognition in New York City at Gramercy Tavern, Veritas, and L’Atelier de Jol Robuchon. Chef Shim’s specialty dishes include 45-day USDA dry-aged beef, delectable side dishes, stunning slices of Korean beef, and a Steak OmakaseTM experience. Other menu items include East/West Coast Oysters, Maine Lobster, caviar service, steak tartare, and Korean bacon.

COTE Miami has a 100-seat dining room with interactive smokeless state-of-the-art tabletop grills at each dining table, a dry-aging room, and two private dining rooms. The setting is intimate and pleasant, and the meals are incredibly innovative and awe-inspiring! Click here for their full menu or to make reservations.

830 Brickell Tower Brings Big Names to Miami’s Financial District

As more tech companies and their execs flock to Miami, another quintessential tower is making a name for itself in the Brickell Financial District with new commercial leases and a lot of them are prominent names! 830 Brickell will soon be home to a massive technology and aerospace companies and we cannot wait to see what other companies decide to lease space.

AerCap, an aviation company recently signed a lease for 20,000 square feet at 830 Brickell with their headquarters currently in Dublin, Ireland. AerCap has leased the entire 50th floor.

According to the developers Cain International and OKO Group, “Attracting a global company like AerCap is precisely what we envisioned when we decided to develop this best-in-class office tower in the Brickell Financial District.”

Other companies that are joining AerCap include CI Financial and Microsoft. CI Financial, a Canadian Asset Management Firm signed a lease for 40,000 square feet between floors spending over the 48th and 49th floors. Microsoft is also leasing 50,000 square feet.

Rent for 830 Brickell starts at $100 per square foot.

About 830 Brickell

830 Brickell is a 55 story Class A office tower located in the Brickell Financial District. Developed by OKO Group and Cain International, the tower was designed by Adrian Smith + Gordon Gill. Interiors have been designed by the Italian architecture company, Iosa Ghini Association.

830 Brickell totals 650,000 square feet.

Amenities for 830 Brickell include street-level retail, cafes, outdoor terrace, conference facility, health and wellness center, and rooftop bar/restaurant. The tower also offers unlimited Biscayne Bay and downtown Miami views.

OKO Group and Cain International are also responsible for Una Residences and Missoni Baia, residential towers in Miami. Missoni Baia has already reached 90% sold. Una is currently scheduled for completion in 2023.

830 Brickell is scheduled to be complete by the end of 2022.

December 2021 Posts Best Sales Month in Miami-Dade Real Estate History

This year has been a record-breaking year for Miami-Dade County real estate. Quarter one, we saw median sales prices reach record numbers as well as the number of homes sold. In the second quarter for 2021, a new record was set for the most home ever sold in that quarter.

In the third quarter, records for highest condo prices sold. And now, Miami has had its best December sales month in history with total homes sales, highest annual total dollar volume, most condo transactions, and most single-family home sales.

According to the Multiple Listing Service (MLS) for quarter 4, there has been 49% more sales and 103% more dollar volume in 2021. Year 2021 ended with 39,394 existing total property sales, up 49.5 percent from the 26,345 transactions in 2020 and 31.1 percent from the previous annual high of 30,041 transactions in 2013. Miami’s sales in dollars totalled $30.3 billion in 2021, an increase of 103.4 percent year over year.

The total sales record actually broke in October 2021 (10 months) which is a record in itself. In just nine months in 2021, Miami broke its all-time yearly condo sales record, selling 23,689 units, an increase of 80.9 percent over the previous year. Miami set a new record for annual single-family home sales in 11 months, with 15,705 units sold, up 18.5 percent from 2020.

Total home sales in Miami-Dade County increased 14.8% year over year in December 2021, from 2,990 to 3,433. While single-family house sales in Miami fell 1.2 percent, from 1,372 to 1,356, existing condo sales in Miami rose 28.4%, from 1,618 to 2,077. It’s the 15th month in a row that condo prices have risen by double digits year over year.

Nine of the top ten best house sales months in Miami history occurred in the year 2021. The month of June 2021 (with 4,057 total transactions) is still the most active in Miami’s history. Since MIAMI began keeping statistics in 1993, December 2021 (with 3,433 sales) has been the sixth-best sales month overall.

Home sales in Miami are also up considerably from December 2019. Total home sales in Miami increased by 41.6 percent in December 2021 compared to December 2019, from 2,424 to 3,433. Single-family house sales in Miami are up 15.5 percent, while condo transactions are up 66.2 percent, compared to December 2019.

In December 2021, single-family luxury ($1 million and more) transactions in Miami increased 18.6% year over year to 262. Existing condo luxury ($1 million and over) sales in Miami increased by 100% year over year to 264 transactions.

Luxury single-family homes have a 3.2-month supply, while luxury condos have a 7.5-month supply. Month-over-month and year-over-year, luxury months of supply continues to decline for all property categories.

In December 2021, 535 single-family houses priced between $400K and $600K sold in Miami, up 25.6 percent year over year. Existing condo sales in Miami increased by 101.7 percent to 359 deals, with prices ranging from $400K to $600K.

Single-family median prices in Miami-Dade County grew 15.4% year over year in December 2021, rising from $454,900 to $525,000. The median price of a single-family home in Miami has grown for 121 months in a row, a stretch of 10.1 years. The typical price of an existing unit grew 29.3% year over year, from $274,500 to $355,000. In 123 of the last 127 months, condo median prices have risen.

In December 2021, Miami’s total monetary volume was $3.1 billion. The dollar volume of single-family homes climbed 27.7% year over year, from $1.31 billion to $1.67 billion. Year over year, condo dollar volume increased 68.5 percent, from $853 million to $1.4 billion.

In December 2021, cash transactions accounted for 40.4 percent of Miami closed sales, up from 32.2 percent in December 2020. According to the most recent NAR statistics, cash sales account for about 23% of all house sales in the United States. Cash sales made up 49.1% of all existing condo sales in Miami and 27.1 percent of single-family home sales.

Do these Miami Restaurants have the Best Sandwiches in the US?

Who has the best sandwich in Miami? According to a consumer poll on Mashed.com, two of the best sandwiches in the United States are located right in our very own Miami. The sandwiches we are referring to include a cheesesteak sandwich from Batch Gastropub in Miami and a croqueta preparada from Sanguich de Miami located in Little Havana.

The Batch Gastropub creates a heavenly sandwich by brushing a smoke paprika aioli stacked with shaved ribeye that’s covered with white American cheese. The “cherry on top” is the sautéed hot cherry peppers and onions.

According to mashed.com, “The steak is juicy and exquisite, the bun is light, fresh, and a little crispy, and the pickled hot cherry peppers have just the right amount of heat to shine through all of the richness.”

The croqueta is in a whole other league with stacked high slices of ham and roasted pork topped with Swiss cheese. Extras include croquettes, mustard, and pickles.

“There’s a lot to appreciate about this sandwich, but the real stroke of genius is the choice to masterfully tuck a few croquettes in between all the unctuous meat, briny pickles, and melted cheese,” according to the review on this sandwich form Saquich de Miami.

Other restaurants that have made best food lists include Makoto in Bal Harbour and Itamae in Miami.

1,049 Foot Supertall Tower Receives FAA Approval for Brickell Neighborhood

Brickell may be getting a new supertall tower after receiving approval from the Federal Aviation Administration. Now the plans will move on to the City of Miami to discuss design, permits, and construction.

The tower located at 1428 Brickell would rise 1,049 feet tall on 1.15 acres. The property is currently owned by Miami-based real estate developer Ytech.

Ytech has the rights to build an 825,000 square foot structure due to the air rights. Ytech’s website states, “In a sea of high-rises, 1428 marks a new chapter for luxury development and a turning point for the Brickell area.”

The FAA application was originally submitted on July 30, 2021 and was just granted approval on January 14, 2022. The project is currently being called 1428. Its T6-48A-O zoning means the property could house a tower that’s at least 48 stories tall.

The only information that has been released about the property is that there will be hotel-like services that owners can participate in.

Ytech also owns property nearby where an 80 story tower is possible. This site could also be a possibility for an additional supertall tower as well.

The developer purchased the site in January 2017 for $26.5 million from The Taplin Company LTD after a threat of foreclosure. Currently, there is a 9 story Bank United office building that was originally built in 1971 with 100,762 square feet. Taplin first purchased the property in 1994 for $4.4 million.

Expansive Mixed Use Tower Planned for Downtown Miami

Miami-Dade planners are working hard on reviewing the pre-application for a large mixed-use project in Downtown Miami.

The property located at 1370 NE 2nd Ave is within the Metromover Subzone of the Rapid Transit Zone District. Within this zoning district, some rules apply which includes up to 1,535 units permitted as well as the 40% glazing requirements.

The tower is anticipated to rise 649 feet tall at 43 stories. Passing the district rules, the tower is proposed to have 1,441 residential units.

The tower will be designed by Rafael Viñoly architects but the city planners are asking for clarification on some of the design elements throughout the project.

The county has stated that the awnings, balconies, and weather protection elements need to be at least six inches from the curb face but the plans appear to encroach on the curb face. Specifically the parking garage for levels 2 through 12 are encroaching.

The open space and landscaping code also needs clarification.

Amenities for the tower will spread over 5 stories and include a state-of-the-art-gym, pool, office elements, and more.

There will be offices dedicated to the auditorium for the Miami-Dade County School Board which will spread over 100,000 square feet. Offices for Crescent Heights will also utilize 19,673 square feet of space.

The plans also show that there will be 9 levels of parking and an expansive ground floor designated for commercial space.

There are currently no scheduled dates to review revised plans but if approved, the ground breaking would begin in 2023.