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.

The South Beach Jazz Festival is Back for Another Year

The South Beach Jazz Festival is back for another year and we can’t be more excited! Scheduled for this weekend you can find some of the top jazz performers at venues throughout Miami Beach.

The show is set for January 7-9, 2022, and was designed to showcase the musical abilities of people with disabilities. According to the new President of Power Access, the non-profit organization that hosts the festival, “It is in our mission to provide opportunities for musicians with disabilities and so at least one musician in each group does have a disability,” states R. David New.

New himself became blind, deaf, and partially paralyzed due to a rare disease but later regained his ability to hear and walk. With his personal experiences, this festival is very close to him and he is happy to be able to continue the tradition for 2022.

The pre-festival show will take place at the Faena Theater on Thursday, Jan. 6th. The performers will include pianist Gonzalo Rubalcaba and singer Aymee Nuviola. Their recent 2020 album was nominated for a Grammy Award in the “Best Latin Jazz” category. The album is a tribute to their mothers as well as their home, Havana.

The opening act on Friday, January 7th is Grammy Award-winning Blind Boys of Alabama. Also performing is New Orleans saxophonist Donald Harrison and drummer Art Blakey’s famed Jazz Messengers. Also in attendance will be the University of Miami Jazz Quintet with Kaleen Barton.

The opening pre-festival and the Friday shows will be a ticketed event while the other shows are free.

As for COVID protocols, all performances are expected to be outside except the pre-festival show. According to R. David New, “We are taking every precaution possible to make our event safe and enjoyable for the entire community.” Social distancing and masks will be encouraged. To see a full list of performers as well as their locations, click here.

The Real Wolf of Wall Street Now Calls Miami Home

We can’t stress enough how hot Miami is right now! And we aren’t talking about the temperature. Notables, celebrities, and execs are moving to Magic City daily and another one just joined the ranks. Recently announced that the real ‘Wolf of Wall Street,’ Jordan Belfort is Miami’s newest resident.

Recently, Belfort eloped in Las Vegas with model and now wife, Cristina Invernizzi. Invernizzi is originally from Argentina and is listed as Belfort’s third wife. Belfort and Invernizzi are moving from Las Vegas.

So who is Jordan Belfort? You may have seen the 2013 The Wolf of Wall Street movie starring Leonardo DiCaprio portraying Jordan Belfort. But to dive deeper, Belfort was a former stockbroker who pleaded guilty to multiple crimes related to stock market manipulation and the running of a long-term scam involving penny stocks sending him to prison.

Belfort grew up in Queens, New York where he began selling at a young age. His friend any him would sell Italian water ice desserts out of inexpensive styrofoam coolers at a beach during the summer months where they would earn around $20,000 every summer. Belfort later went to American University where he studied biology and later went to dental school for a short period. In the 1980s Belfort founded Stratton Oakmont, an over-the-counter brokerage house and financial firm that did remarkably well until he was later caught.

Since his sentencing and prison sentence, Belfort has profited off of 2 memoirs that discuss his life during the Stratton Oakmont era, as well as a self-help book on persuasion and influence.

More recently, Belfort has been participating and becoming fully engulfed in the Miami scene. During Art Basel week, he released his very first NFT. The NFT portrays Belfort partying on a yacht surrounded by models, helicopters, and helicopters flying overhead. One of the fascinating depictions includes the yacht being surrounded by FBI agents. David Yarrow is the photographer for the piece.

Another announcement includes Belfort’s announcement for his very own tequila coming to a shelf near you, Mezcel Santo Inferno. We can’t wait to see what else The Wolf has in store for Miami!

Top Tech Giants That Made the Move to Miami in 2021

A slew of new technology executives and investors have relocated or acquired houses in Miami during 2021. This is of no surprise with the growing tech industry, cryptocurrency evolution, and just better benefits/housing opportunities for companies/execs emerging in the Miami area.

Here are the top 10 big tech execs that have made their way to Miami in 2021:

• Co-founder of Paypal, Peter Thiel recently purchased 2 Miami mansions for a total of $18 million in Miami Beach. Thiel is also the co-founder of Founders Fund who recently leased office space in Wynwood.
• General partner for Bling Capital, Benjamin Ling purchased a mansion on Palm Island for $28 million.
• CEO of Goody, Edward Lando purchased a $15.1 million mansion on the Venetian Islands. Not only did he purchase on the Venetian Islands but he did purchase a Miami Beach home in April for $3.3 million.
• CEO of PKWARE, Spencer Kupferman purchased a waterfront mansion in Bay Harbor Islands for $12.75 million in September.
• Former CEO of Paypal, Bill Harris relocated to Wynwood where he launched Nirvana Technology in 2021.
• CEO of SeedInvest, Ryan Feit moved to Miami shortly after he opened an office for this company in Miami.
• Co-Founder of Oracle, Larry Ellison bought a mansion in North Palm Beach after Oracle downsized and relocated to South Florida.
• CEO of Teal, David Fano moved his corporate headquarters from New York to Miami in February 2021.
• Co-Founder of Spectrum Labs, Justin Davis moved to South Florida after Spectrum’s headquarters moved from San Francisco to Miami even though they are still allowing their company’s employees to work remotely.
• TechCrunch Founder, Jack Arrington purchased a home in Coral Gables for $16 million in the Old Cutler Bay neighborhood.

Miami is not only the ideal location for techies but for the Month of November, Miami was considered one of the most popular U.S. destinations to relocate to. This is the fourth month in a row that Miami is leading the nation and you can bet, that it will continue to be the go-to city.

Miami Real Estate Sets Another Record for its Best Sales Month for November in History

Miami-Dade has seen yet another record smashed for real estate sales this year. November is now officially had its best sales month in history following highest total home sales, highest condo sales, and highest single-family home sells.

As of November, Miami has officially hit 35,961 total home sales with the previous record hitting 30,041 transactions for 2013. Although November has the highest home sales for any November in History, June 2021 is still considered the number one sales month in Miami history. November is ranked the 8th best month overall.

Total home sales for Miami-Dade County rose 22.9% for the month of November to 3,021 sales. This is up from 2,459 sales compared to October sales. Single family home sales have increased 1.2% to 1,168, while condo sales have seen a dramatic increase of 42% at 1,853.

For November, Miami home sales showed an increase at 48.6% compared to November 2019. For home sales, transactions saw a 20.2% increase and a 74.6% for condo transactions compared to November 2019.

Luxury single-family home sales saw an increase in 28.2% at 209 sales for November 2021. While luxury condo sales rose 115.6% at 207 transactions.

As for the Miami home sale supply, luxury single-family home sale are 3.6 months and luxury condos remain at 8.4 months with a trend downward month after month.

Single family homes saw an increase of 15.1% between the prices $400,000 to $600,000 with 405 transaction in November. Condo sales that were in the same price range also saw a 132.6% increase at 321 transactions.

The dollar volume totaled $2.2 billion for November with an increase in single family home volume by 14.9% and condo dollar volume at 92.8%.

For the state of Florida, closed single-family home sales totaled 27,541 bringing the total sales up 4.3% compared to last year. Condo sales are down 5.4% at 11,598 total sales.

Median home sales price rose 19.6% with a median sales price $364,900, while the condo sales price is up 19.9% with units median sales price averaging in $273,270.

Cash sales accounted for 60% of all Miami home sales more than the national average for November 2021. For closed sales, cash represented 38.4% of Miami closed sales. For condo sales, cash represented 46.9% while 24.9% represented single-family home transactions.

The demand for Miami real estate continues to increase. The factors that have caused this increase include travel restrictions being lifted to the states, low interest rates, and lack of covid restrictions.

Melo Group Purchases Entire City Block in Edgewater to Build a Four Tower Development

Melo Group has recently purchased an entire 3.04-acre city block for $105 million in Miami’s Edgewater neighborhood with the intention of establishing a huge development.

The entire block extends from Biscayne Boulevard to Northwest Second Avenue between Northeast 17th Street and Northeast 17th Terrace with the primary address as 1700 Biscayne Blvd.

The sellers of the land are Biscayne Arts LLC, Biscayne Arts Plaza LLC, Brickell North Investments, and Miami Proarts II but the press release stated that the land is managed by James Goldstein in Fort Lauderdale. They have owned the property for decades and the current block features 2 office buildings, parking lots, and a Burger King.

The Melo Group plans to develop four 60 story towers with condos, apartments, and retail space with the condo units totaling 1,520 residential units. The property was purchased for $105 million at $69,000 per buildable unit.

According to a representative of the Melo Group, “the Biscayne Place sale marks the highest price per square foot for any non-waterfront property in Miami’s Arts & Entertainment District and the second-highest in Edgewater.”

The Melo Group has built more than 6,000 condos in the city throughout the last 20 years with a majority of its projects located in Edgewater as well as the Arts & Entertainment District. If this property moves forward, this will be the largest development that the Melo Group has built in Miami.

M Tower Redesign Renderings Revealed

Located at 56 SW 1st St and 65 SW 2nd Street, M Tower will rise 49 stories in Downtown Miami. Recently, the developers released renderings for a redesign of the tower. M-Tower will be developed by the Miami Parking Authority and a private developer in a partnership.

The old plans showcased the property reaching 53 stories, 440 condo units, and 818 parking spaces. The tower was proposed to encompass 622,783 square feet total with 25,732 square feet of office space and 1,089 square feet of retail. These previous designs were created by Zyscovich Architects.

The new designs showcase 624 condo units, ground floor retail, offices for Miami Parking Authority, and 717 parking spaces. The architect for the redesign is NBWW Architects located in Coral Gables.

In the previous design, the older garage on the property was to be refinished and incorporate some of the new design but the current plans show an entire demolition of the site with plans to rebuild.

The property that the proposed M Tower sits on sold earlier this year to an affiliate of the Lion Group NYC for $10 million.

If the new redesign is approved by all parties, then construction will begin in 2022.

Aston Martin Residences Presents the Penthouse Collection

In the wake of top-off on construction for the sail-shaped Aston Martin Residences, a series of exclusive penthouses known as the Penthouse Collection was unveiled. There are currently 7 sprawling penthouses in the collection for the 66-story super-tall skyscraper. The most unique thing about these penthouses is that each floor plan and finishes are custom and 100% gorgeous.

The penthouses begin on floor 56 right above the amenity deck. Two of the penthouses, which are at least 8,800 square feet in size and cost between $16.7 million and $25 million, have already been sold. While the developer releases the collection, here is some exclusive information on penthouse number 5!

This penthouse located on the 60th-floor features 12,397 square feet of indoor and outdoor living space. Expanding through the entire floor, you will find 4 bedrooms, 6.5 bathrooms, and staff quarters. With 360 degrees of ocean and Miami views, this penthouse has it all, from the white marble to the floor-to-ceiling windows and beyond. Each penthouse includes a gym and a private terrace with a pool.

Did we also say that once you purchase one of the Penthouse Collection units, an Aston Martin DB11 or DBX will become yours? That’s right. And what makes it so much better is that you’ll be able to park your new Aston Martin in the signature garages designed just for your luxury car.

The lower-floor apartments, all of which face the ocean, start at a still-generous 3,600 square feet and $5.525 million, and include access to the building’s members-only community.

Development Information

• Developer: G&G Business Developments
• General Construction: Coastal Construction
• Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina

Residence Features

• Private service entrance at basement level for all move-ins and personnel
• Bulthaup custom cabinetry in kitchens
• White marble floors throughout the entire unit and porcelain in all balconies
• Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
• Gagganeau appliances in all residences: (sizes depends on units)
• Duravit wall-mounted toilets in all units throughout the building and bidets in select units
• All bathrooms feature marble floorings and walls (Thassos or similar
• Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
• Italian Bertolotto doors with AGB hardware in all units
• Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
• Floor soundproofing system installed throughout all units including all bathrooms
• Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
• German Schuco hardware on sliding glass doors
• ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
• High-speed elevators going up to 1200 feet per minute
• High-speed internet and Wi-Fi hotspots in all common areas
• Cast iron pipes and risers avoiding Waterflow noises

Amenities

• Full-service building with concierge and hospitality-inspired services
• Super Yacht Marina facilities
• “The Aston Martin Club” membership
• Rooftop infinity pool located on 55th floor
• Fitness Spa and Fitness Center with Meditation
  Room and Treatments Suites
• Private Steam, Sauna, and Locker Facilities
• Pet-friendly building
• Building designed with a helipad on the rooftop
• 24-hour valet and covered garage self-parking
• Valet charging stations for electric cars
• Valet Butler
• Additional bicycle and private storage spaces
• 10 destination controlled super hi-speed elevators
  and separate dedicated service elevators
• Digital connection to concierge and all building
  amenities from every residence
• State-of-the-art Business Center and Conference Rooms
• Art Gallery and Art Lobby on 53rd floor
• Private Residence Movie Theatre, Event Space,
  Kids Playroom, Teen Center, and Game Rooms
• Virtual Golf
• Beauty Salon with blow-dry station, pedicure chair,
  manicure table, and wash stations

This luxury tower is already 75% sold and continues to sell out quickly. Construction for Aston Martin Residences is expected to be completed in 2022.  If you or someone you know have an interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.