Continuum South Beach Bulk Sale for $30 Million by Two Former Morgan Stanley Execs
In 2014, Karen Bechtel and her husband William McKinley Osborne III (former Morgan Stanley executives) purchased 3 total units at Continuum South Beach South Tower for $21 million. Records show that they purchased units 3602, 3603, and 3604 and combined it into one unit totaling 8,229 square feet on the 36th floor.
The full-floor condo was originally listed in March 2021 with an asking price of $36.5 million. The gorgeous combined units feature a total of 6 bedrooms, 5.1 bathrooms with a 2-story main suite. Two kitchens, a theater and 3,704 square feet of balconies make up the rest of the luxury apartment.
According to county records, the buyer was listed at MFTMA Holding LLC. The price per square foot totals $3,646, and is considered Miami Beach’s fourth most-expensive condo deal since 2005.
Continuum developer Ian Bruce Eichner also sold his penthouse in the building for $35 million in April 2021 that was originally listed for $48 million two year ago. Another sale for Continuum included CEO of a financial tech company purchased 2 combined units for $12.1 million.
Bechtel and Osborne were both Managing Directors at Morgan Stanley from 1980 to 1991. Bechtel is currently a senior adviser at Carlyle Group. During the pandemic, they established a non-profit organization called Meals for Heroes Miami that focused on partnering with local restaurants to provide food for health care workers and first responders. In April, the couple bought a mansion in Tahiti Beach for $28.9 million.
Continuum was built in two phases by developer by Bruce Eichner in 2002. Residents of Continuum South Beach enjoy arguably the best resort-style amenities.
BUILDING AMENITIES
Stunning landmark architecture
1,000 ft of direct beach front access
24-hour welcome desk with concierge
24-hour guest valet
Elegant resident club room
Luxury Health spa with sauna, steam room
Two lagoon-style pools
State-of-the-Art gym
Business Center
Lush and manicured landscape
3 Tennis Courts
Outdoor restaurant
Multi-story health club & spa
RESIDENCE AMENITIES
Ten foot high ceilings
Private balconies with glass railings
Floor to ceiling sliding glass doors
Imported marble countertops, backsplash, and whirlpool decks
Imported marble flooring in wet areas and shower
Designer fixtures
Whirlpool tubs
European bathroom vanity cabinets
Seamless glass shower doors
Custom European designed cabinetry
Granite Countertops
Under counter lighting
Faber “Inca Smart” integrated hood vent
Sub-zero built-in refrigerator-freezer
Miele touch-control cook top
Miele integrated dishwasher
Miele microwave oven
Single-lever faucet with pull out spray
If you or someone you know have interest in purchasing one of the units at Continuum South Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Arch Investors and Infinity Developers are Teaming Up for a 20 Story Project in Edgewater
New York-based Arch Cos. Investors and Miami-based Infinity Collective developers have previously worked on a 19-story Edgewater project located at 2500 Biscayne Blvd. Within the past few years, they have started the process of working on a residential project directly across the street at 2501 Biscayne Blvd.
The developers purchased the 1.5 acre sited in 2017 for a combined $32.18 million. The financial terms are unknown but they have jointly taken ownership of the property. This site was the previous home for the Latin Café 2000 Biscayne restaurant.
Plans haven’t been officially released to the public but 2501 Biscayne will rise 20 stories featuring 250 apartments, and some exclusive commercial space on the main floor of the tower. The name of the project is TBD.
According to the managing partner of Arch Cos., Jeffrey Simpson, “We believe in the long-term potential of 2501 Biscayne for our partnership, as well as in the continued growth of Edgewater as employers increasingly seek out space in Miami.”
Arch Cos. is a New York-based real estate and financial investment firm that currently services 9 states. They currently have $630 million in their real estate portfolio and have assisted with more than 3,000 multi-family units.
Infinity Collective, located in Miami has been in business since 2002 and are currently working on projects 2500 Biscayne Blvd and Esme Hotel in Miami Beach.
Inside Miami’s High-Security Billionaire Bunker – Indian Creek Island
Located on a barrier island on the outskirts of Biscayne Bay, sits a gorgeous Island shrouded in exclusivity and extreme wealth. Indian Creek Island is filed with billion dollar views, Brazilian teak docks, 100+ foot yachts, and extreme security.
This fortress of an island features 41 waterfront properties strategically arranged around an exclusive 18 hole golf-course stretched across 294 acres.
The average home value is $20 million with each lot featuring a minimum of 1.25 acres. In February 2010, one of the luxury estates sold for $50 million, breaking the record for the most expensive single family home sold in Miami.
Security is so tight that the entrance is heavily guarded with a 13 person private police force who patrol the island via boat, jeeps and jet skis 24 hours a day.
According to the 2019 census, the population for Indian Creek Island is 87 and in year 2000 it was considered the 8th highest income area in the United States.
History of Indian Creek Island
In the early 1900’s, Indian Creek Island was created as a result of excavation for drainage in Biscayne Bay. Although the golf course was created a few years later, the Village of Indian Creek Island officially established in 1939. The first homes built on the land were vacation homes for the Miami’s rich and famous. Although there are none of the original remaining homes, there are a handful that date back to the 1950’s.
In more recent years, instead of residents using their homes for vacationing, they are living in the community year-round, shifting the typical profile of the residents. The village are seeing more families with children and a recent council meeting approved sidewalks and streetlights for play.
Notables on the Island
With the exclusivity of Indian Creek Island, it brings on many notables who want the privacy and security this island has to offer. Past residents include Beyoncé and Jay-Z. Current notables include:
Norman Braman- car dealership billionaire
Purchased 1 Indian Creek Drive in 1991 for $3.9 million
Russian (anonymous) buyer
Purchased 3 Indian Creek Drive in 2012 for $47 million
Ivanka Trump and Jared Kushner
Purchased a vacant lot for Julio Iglesias (Enrique Iglesias’ father) in 2020 for $30 million
Adriana Lima -Victoria Secret Supermodel
Purchased 22 Indian Creek Drive in 2009 for $9 million
Don Shula -Retired headcoach for the Miami Dolphins
Purchased 16 Indian Creek Drive with a price unknown due to divorce
Tom Brady and Gisele Bündchen
Purchased a tear-down at 26 Indian Creek Drive in 2020 for $17 million.
There is only one property currently on the market on Indian Creek Island. The property located at 29 Indian Creek Drive is listed for rent at $100,000 monthly and features 4 bedrooms, 4.5 bathrooms with gorgeous southern exposure of Biscayne Bay. For more information on this property or about Indian Creek Island, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Record-Breaking Cryptocurrency Sale for Arte Penthouse
Developers for Arte Surfside have accepted a record-breaking $22.5 million in cryptocurrency as payment for one of their full-floor penthouses. This deal is the largest cryptocurrency real estate transaction ever. This transaction was announced just a few weeks after developers for Arte Surfside began a partnership with SolidBlock, a securities trading platform.
This isn’t the only record that Arte Surfside recently set the stage for. Another full-floor penthouse sold for $33 million equaling $4,300 price per square foot. This is the highest paid price per square foot in Surfside.
The cryptocurrency-paid full-floor penthouse located on the entire 9th floor of the 12-story tower, features 5,067 square feet of living space. Offering 360 degree views of the coastline, Miami Skyline, and ocean from the 2,960 square feet wraparound terrace. The penthouse features 4 bedrooms, 4.5 bathrooms, wine bar, and fully-finished walk in closets.
According to the co-developer, Giovanni Fasciano, “Arte has set the precedent for what these sales can look like, and how fast they can take place. We’re proud to have laid the groundwork for this new, burgeoning world.”
The buyer wasn’t revealed and the type of cryptocurrency wasn’t released for this transaction.
More about Arte Surfside
Arte Surfside Residence Amenities
Expansive terraces clad in travertine with ipe decking
Gracious kitchens featuring Poliform cabinetry, Italian marble countertops, and Gaggenau appliances
Sweeping views of the Atlantic Ocean
Arte Surfside Amenities
A 75-foot indoor swimming pool
An outdoor swimming pool, sundeck, and poolside cabanas
Rooftop tennis court
State-of-the-art fitness center and yoga studio
Sauna and steam room
Tranquil meditation pond
Children’s playroom
Residents’ lounge with billiards and catering kitchen
Temperature-controlled parking spaces
Want to Buy David Guetta’s Miami Condo? It will Cost you $14 million or 348 in Bitcoin
The internationally famous French DJ, David Guetta has listed his Miami beachfront lower penthouse condo at Setai Hotel and Residences in South Beach. Listed at $14 million, he is also accepting payments in Bitcoin (BTC) or Ether (ETH). At todays prices, $14 million is equal to 348 BTC (6/14/2021).
His luxury 3 bedroom fully furnished residence is located on the 37th floor and boasts 2,528 square feet of living space. The condo features 3 bedrooms, and 3 bathrooms with 2 master suites.
The wraparound balconies offer unobstructed views of the Atlantic Ocean, Miami Beach, and the Miami skyline. This penthouse has been tastefully designed by Piero Lissoni.
Setai Hotel and Residences features 24 hour security, valet, and concierge services. The five-star hotel features many hotel amenities that are available to residences including a 90-foot poolside bar, boutique and art gallery, private ground transportation, three beachfront pools, and cabanas.
DJ David Guetta also has a rental located at Paraiso Bay in Edgewater Miami. This stunning upper penthouse starts at $22,000 a month with a minimum of a 6 month contract.
Guetta originally purchased the property in 2018 for $9.5 million from Richard LeFrak (New York billionaire).
Guetta is a French DJ, songwriter, and producer who has hit 50 million in record sales and streams over 10 million. For 2011 and 2020, Guetta was voted the #1 DJ in DJ Mag’s Top 100 DJs. In 2013, he was also title Billboard’s #1 Dance-Pop Collaborator of all Time.
Lea Black of the Real Housewives of Miami Sells Waterfront Mansion on Star Island for $34 Million
Another waterfront mansion has just been added to the market and the owner is non-other than Lea Black of the Real Housewives of Miami. Her and her husband, Roy Black are selling their waterfront estate on Star Island for $34 million.
The waterfront mansion is located at 45 Star Island Drive situated at the entrance of Star Island on 1.07 acres with 190 feet of water frontage with an expansive dock. Featuring 9 bedrooms, 9 full bathrooms, and 3 half baths, the home includes 2 stories of 10,636 square feet of living space. The property was built in 1981. Amenities for this massive mansion include a pool and guest cottage.
The Black’s originally purchased the home in 2011 for $7 million, which is also the same year that the Real Housewives of Miami first aired on Bravo.
Leah Black stated in an email to TMZ, “We had planned to renovate and move there ourselves, but later decided that with our son in college, the amount of time we spend traveling and in L.A. that it was not feasible for us to enjoy further. Although we own other homes, this one is very special to us because of the exclusivity it offers and the wonderful people that live there.”
Lea and Roy have listed their home ‘for sale by owner,’ and stated that they have received a few qualified offers. The family also owns home in Coral Gables, Key West, and Los Angeles.
Legacy Hotel & Residences Sells out at 100% at Pre-Construction
Legacy Miami Worldcenter also known as Legacy Hotel & Residences is one of the newest pre-construction residential towers located in Park West Miami. This luxury tower will rise 668 feet tall with 50 stories. This tower has officially sold out before the groundbreaking. According to the South Florida Construction Journal, this is the first development in downtown Miami to sell out prior to construction.
Centrally located at 942 NE 1st Avenue in the heart of the Miami Worldcenter ‘mega-development.’ This mixed-use project will feature 287 residences, 262, luxury hotel rooms, restaurants, business center, medical office, retail, and a rooftop atrium with multiple amenities. It will also be considered the second tallest tower at Miami Worldcenter.
The residences will consist of studios, one-bedroom, and two-bedroom floor plans ranging from 368 to 964 interior square feet. Developed by Royal Palm Companies with Kobi Karp as the architect and ID & Design International designing the interior space. This tower will feature state-of-the-art living without any rental restrictions. This allows homeowners to rent their units on a short-term basis through AriBnB, VRBO, or through Legacy’s rental program. The residences at Legacy Hotel & Residences will come fully furnished.
The sold units include a total of 310 with a combined value of $160 million. The average prices ranged between $350,000 to $2+ million. There are 8 penthouses remaining are subject to use for the hotel portion of the project.
RPC is currently closing on their construction loan and expects to announce that milestone soon. Construction permits are pending and site pre-work is estimated to begin the end of May and/or beginning of June 2021. Legacy Hotel & Residences is expected to be completed in 2024.
J. Michael Arrington-Founder of TechCrunch Buys Waterfront Home for $16 Million
In April 2021, J. Michael Arrington, Founder of TechCrunch, stated that “there is no better place to be than Miami.” So it is of no surprise that Arrington just closed on a waterfront property in Miami last Friday.
With a cool price of $16 million, this gorgeous home is located in Miami’s gated community of Old Cutler Bay has all the amenities that one could need. The gorgeous six bedroom home is perfectly sited on half of an acre with 140 feet of waterfront. This property is not limited in amenities! From the pool, wooden deck, coral rock fire pit, to the summer kitchen, it is absolutely stunning.
The home was built in 2015 and designed by Florida architect, Cesar Molina. The 8,300 square foot home is complete with 6 bedrooms, 7.5 bathrooms, wine cellar, home theater, gym, and custom kitchen.
According to the Miami MLS, this property was originally listed in April with a price of $16.5 million. According to tax records, the sellers purchased the property for $10.4 million in November of 2018. According to the listing agent, properties in this neighborhood typically sell for over $10 million but this has been the highest sale price ever for this neighborhood.
J. Michael Arrington is the founder of the popular tech review website, TechCrunch and a cryptocurrency hedge fund, Arrington XRP Capital. Techcrunch which operates Crunchbase, was founded in 2005 starting off as an online encyclopedia with information on key people, funding rounds, and startups’ information. TechCrunch was later acquired in 2010 by AOL for $25 million.
MLB Hall of Famer Mike Piazza Sells Miami Beach Mansion for $15 Million
If you need anymore convincing of how hot the Miami real estate market is, another luxury mansion just sold! It gets better because the seller is Major League Baseball Hall of Famer Mike Piazza.
Piazza listed the Miami Beach mansion in December 2017 at $18.5 million. The property located at 1401 West 27th Street, Miami Beach was recently relisted for $14.7 million with a sold price of $15 million. This 8 bedroom, 9.5 bathroom mansion features 9,438 square feet of custom finishes including Jerusalem stone floors and an Italian-inspired kitchen. A private pool, dock, and boat lift elevates the remarkable 100 feet water frontage lot.
The buyers for this incredible residence is none other than the Major Food Group’s co-founder Jeffrey Zalaznick and wife. The couple has been renting the property since October 2020.
According to tax records, Piazza paid $10 million for the home in 2008. But don’t worry, they are not leaving Miami any time soon. They still own a unit at the Ritz-Carlton Residences Miami Beach that they purchased in 2019 for $5.6 million.
