Midtown Miami Development Site Sold to ALMI Residential for Planned 389 Unit Tower
Midtown Miami has become a hotspot of late with the announcement of a new tower Standard Residences and now the newest tower to be announced Midtown 7.
Plans for Midtown 7 were originally presented to Miami’s Urban Development Review Board in 2016 but were denied due to limited information the Magellan Development Group (original developers) had proposed.
Megellan Development Group had originally partnered with the property owner, Midtown Development in 2016 and 2017. Those plans for the Midtown 7 tower included the development to rise 31 stories, feature 391 units, and 505 parking spaces.
AMLI Residential purchased the 1.85-acre site located at 3001 N.E. First Ave, Miami for $30.5 million. The site is approved for 389 residential units totaling 451,469 square feet. ALMI Residential is considered one of the largest apartment developers in the United States.
In addition to this approval, once the project is complete, ALMI Residential would transfer 28,000 square feet of retail space leasable to Midtown Development. ALMI Residential would have the first right of refusal if Midtown Development decides to sell the space.
Midtown 7 Amenities
Concierge
Private Pool
Covered Parking
Secure Entrance
24-Hour Security
Gym
Social area/ Entertainment room
Alex Vadia of Midtown Development stated, “We’re happy to welcome ALMI to the neighborhood once more. On the ground level, we’ll continue to line Midtown Boulevard with local retailers, lifted by the draw of select national favorites, like Trader Joe’s, which makes the Midtown neighborhood even more walkable and enjoyable for the public.”
Construction is expected to begin in 2022 with an anticipated completion date in 2024.
Rosso Development and Standard International are Partnering to Bring a 228 Unit Condo Project to Midtown
In its very first partnership, Standard International along with Rosso Development are collaborating on a residential project that will bring a 12-story tower to the Midtown neighborhood of Miami, The Standard Residences Midtown Miami.
Sales are slated to begin on November 30. Arquitectonica and Urban Robot are collaborating on the project, which will be located on the southwest corner of Northeast First Avenue and Northeast 32nd Street across from a grocery store development that is currently under construction.
The Standard Midtown will feature 228 luxury condos ranging from 432 to 965 square feet of living space with studio to two-bedroom floor plan options. Prices will range from $329,000 to $829,000
Payment Structure:
Deposit 10% at reservation
Contract and Groundbreaking 20%
6 months after contract 10%
Top off 10%
Closing 50%
The units will feature cubby kitchens designed by Urban Robot, expansive terraces, and master baths with double showers. Unit owners will be able to rent their units for periods up to 30 days with exclusive benefits to friends and family.
Amenities:
35,000 square feet of amenities
10,000 square feet of retail space
Expansive lobby with lounge areas and a cafe
Rooftop restaurant
Bar
60-foot resort-style pool
Sweat room and fitness center
Indoor pickleball court
Yoga and stretch studios
Karaoke bar
Pet Spa
Party room
Carols Rosso, owner of Rosso Development has stated that this is his first major development since he left the Related Group. Rosso hinted at additional Standard-branded residential projects in the pipeline.
Standard International, currently operates 16 hotels in the United States and across the world and owns a waterfront hotel on the Venetian Islands in Miami Beach named the Standard Spa.
Construction is planned to begin next year and be finished by the middle of 2023. The site at 3100 Northeast First Avenue, as well as the air rights above the existing neighboring garage, are owned by Vadia’s Midtown Opportunities VIIIB LLC.
Notable Real Estate Developers Purchase the White House Inn Property in North Miami
Teddy Sagi and Jorge Pérez, Miami’s most notable real estate investors, have chosen their second South Florida property to invest in: the White House Inn at the gateway to North Miami. What once was a motel that opened its doors in 1969 later became a dilapidated building that saw many problems throughout the years, which later closed in 2014.
Along with BH Group, Pérez’s Related Group, and Sagi’s LabTech Investments Limited are teaming up to buy the waterfront property located at 2305 Northeast 123rd Street.
The 1-acre property is expected to be redeveloped into a luxury apartment complex that would cost around $85 million. Sagi and Pérez are expected to close on the $11 million sale next week.
The North Miami property was sold by a firm led by Mario Murgado, the owner of Murgado Automotive Group for $7.8 million in 2014. Murgado planned to demolish the White House Inn and replace it with a seven-story Ocean Cadillac dealership with a self-contained parking structure, top-floor showroom, and ground-floor restaurant.
Local residents were outspoken in their opposition to the dealership, fearing that it would bring a flood of traffic to the neighborhood. Later Murgado proposed an 11-story tower, Biscayne Harbour, that was approved by the city council but was never finished.
“One of those rare bayfront sites that’s gone underutilized for far too long,” and that the partnership plans to give North Miami “the entrance it deserves,” according to Pérez.
Not only is Pérez known for his work with the Related Group but he is a big player in the residential market as well. In July, he sold his Coconut Grovemansion for $33 million. Pérez also sold his Apogee Beach penthouse for $6 million.
Developer Relaunches Sales for Okan Tower in Downtown Miami
Originally launched in May 2018, Okan Tower was put on hold in early 2020 due to the pandemic. Now the developer, Okan Group, is relaunching plans for the development. This comes at a time where international travel has open to the U.S. and new developments are selling out in record time.
Sales have now officially started for the 70-story tower with 163 condos and 263 condo-hotel units. The site located at 555 North Miami Avenue in Downtown Miami will include luxury resort-style amenities, office spaces, entertainment areas, and a 316-key Hilton Hotel.
Prices for units at Okan Tower will begin at $387,000 for the condo-hotel units and $587,000 for the condos and will go up to $2 million. The hotel units will start on the 36th floor with studio to 2 bedroom floor plan options. These floor plans range from 445 to 1,250 square feet.
The condos will then begin on the 51st floor and will feature 1 to 3 bedroom floor plans. These units will have 695to 2,075 square feet of living space.
The tower will also feature 2 floor penthouse with 1,875 to 2,040 square feet of living space.
Okan will also include luxury resort-style amenities.
Amenities
70th floor rooftop pool
Sky deck with cabanas
12th floor lap pool
Club room and lounges
Health and fitness center
Spa
Children’s room
Theater
Wine cellar
Owner’s lounge
Amenity deck on floors 27-30
Cafe
Bars
Conference and meeting space
Ballroom
Spa with a marble Hamman
The developer stated that with the low inventory, now is the perfect time to begin sales and construction of Okan Tower. This will be the developer’s first real estate project ever.
Presales have already started with construction on Okan beginning in 2022. If you or someone you know have an interest in purchasing at Okan Tower, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Allure North Miami Tower Just Announced by Tate Capital
Plans for a mixed-use project in North Miami known as Allure North Miami has just been revealed. Tate Capital has brought forth plans for a conditional use permit to the city’s Planning Commission. The meeting was scheduled for November 2, 2021 and the current status of the conditional use permit has been released.
The site located at 1810 N.E. 146th Street features 2.11 acres. In an agreement with the city of North Miami, Tate Capital agreed to lease the property for 99 years at $100,000 annually. The developer has also requested a grant from the North Miami Community Redevelopment Agency for $15.2 million for infrastructure of Allure.
Jimmy Tate, a Tate Capital representative stated that they wanted something “unique and transformative” to showcase to residents that North Miami is the next city for urban development. Tate Capital wants to brand North Miami as a “new district” staring with Allure North Miami
Designed by Kobi Karp Architects, Allure will rise 20-stories and feature 360 apartments and 603 space parking garage. Around 8,429 square feet will be dedicated too retail with 36 apartments strictly for workforce housing.
Units will range from 608 to 1,411 square feet with studio to three bedroom floor plans. There will be around 30 studio apartments, 187-1 bedroom apartments, 132-2 bedroom apartments, and 11-3 bedroom apartments.
Amenities
Pool deck
Fitness center
Summer kitchen
Club room
Picnic areas
Package lockers
Elevated pedestrian bridge between tower and garage
If the project receives approval, the anticipated groundbreaking would take place in Spring of 2023 with a completion date of Winter 2024.
W South Beach Penthouse Sold to Entertainment Electronics Moguel
Jeff Walker, the President of Alliance Entertainment, an entertainment electronics company, recently purchased an upper Penthouse at the W South Beach for $9.25 million equating to nearly $4,000 per square foot.
Alliance Entertainment is located in Sunrise Florida and sells electronics (DVDs, Blu-rays, and video games) directly to retailers.
The property located at 2201 Collins Avenue, Unit 2006 in Miami Beach features 2,408 square feet of living space that spans over two levels with cascading glass balconies and two private rooftop terraces overlooking the Atlantic Ocean and Miami Skyline.
The unit also features 3 bedrooms, 3.5 bathrooms and is fully furnished. The kitchen boasts high-end stainless-steel appliances, quartz counters, and custom-made cabinetry. Just off one of the private terraces is the private plunge pool, grill, and lounge area.
According to county records, the seller was listed as SoBe W Estates and purchased the home in 2011 for $6.1 million.
The W South Beach is a 20-story condo-hotel development that was completed in 2009. The tower was developed by TriStar Capital, Related Urban Development, and Starwood Properties. The tower features 511 condo-hotel units that range from studio to four-bedroom floor plan options. There are also a few rare penthouses.
W South Beach offers luxury hotel amenities for all residents and guests including two pools with food and beverage services, private cabanas, and a full-service concierge. Other amenities include a 24-hour fitness center, tennis court, rooftop basketball court, business center, and much more!
Walker isn’t the first executive to live at W South Beach! This tower is known to house big-name developers, architects, and execs. During the construction of One Thousand Museum, Zaha Hadid purchased three combined units. The former Roadhouse Grill CEO also owned a penthouse in 2019 at the W South Beach.
E11EVEN Developers Announce Second Tower Called E11EVEN Residences Beyond
E11EVEN Hotel & Residences has been one of the hottest pre-construction developments in Miami since the day it was announced. So hot that it sold out even before breaking ground. Now we have a new tower to get excited about, and it’s directly next door, E11EVEN Residences Beyond. This tower will be the twin to the original when it comes to the luxury amenities and design but Beyond will be way more exclusive.
Located directly next to E11EVEN Hotel & Residences at 20 NE 11 Street in the Park West neighborhood, Beyond will be connected by a signature bridge allowing residents to go back and forth but only Beyond residents can have access to the original building and not the other way around. Like we said, exclusive.
Co-developed by PMG and E11EVEN Partners, E11EVEN Residences Beyond will feature 461 fully furnished and fully finished luxury units. Floor plans will range from studio to two bedrooms plus a selection of limited penthouses. E11EVEN Residences Beyond, designed by Sieger Suarez Architects will rise 65 stories tall and will feature a similar design to that of E11EVEN Hotel & Residences.
All residences were designed by the award-winning design firm, Avroko Hospitality Group. These units have been specially curated with luxury in mind. Residence amenities will feature high-end appliances like Sub-Zero and Wolf, which will include a microwave, dishwasher, and a built-in convection oven. A custom lighting package, fireplace, and a top-of-the-line washer and dryers are also in the units. One valet-only space is included with each standard unit.
E11EVEN Residences Beyond will feature all of the same luxury amenities that E11EVEN Hotel & Residences has to offer. That includes a signature restaurant, 93-foot resort-style pool with a private lounge on level 14, a state-of-the-art fitness center, access to E11EVEN Beyond Member’s Club, executive office suites, and workspace. One of the most exciting features is the helipad which will allow residents the ability to charter for travel. Beyond residences can also enjoy all of the amenities that the E11EVEN Hotel & Residences tower has to offer.
E11EVEN Residences Beyond will allow cryptocurrency for deposits.
Breakdown of Payments
10% at contract
10% within 3 months of contract
10% at groundbreaking (May 2022)
10% at 12 months from groundbreaking
60% at closing (Summer 2025)
Seventy-three units have already been reserved. The groundbreaking for Beyond is expected in May 2022 with a completion date in the summer of 2025. If you or someone you know have an interest in purchasing at E11EVEN Residences Beyond, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Related Group Announces Casa Bella Tower with Sales Beginning Soon
The Related Group is on the verge of launching sales for their newest tower in downtown Miami; Casa Bella. This residential tower will be built at 1400 Biscayne Blvd in the Miami Arts and Entertainment District and is on the same site where Auberge Residences was originally planned.
According to the renderings, it appears Related is continuing with the same design and specifications that were planned for Auberge. Those designs include full glass exteriors in a wave-like pattern, as well as the unit floor plans. According to The Real Deal, the Related Group is likely reusing them since they have already been approved and to fast-track construction.
Casa Bella will feature 3 towers and 2 will rise 60 stories while 1 will rise 50. The first tower will feature 300 luxury units although 1,430 residential units have been approved for the site. The towers will have 1,629 parking spaces and will be connected by a podium.
The newest tower will feature 1 to 5 bedroom floor plans with only 6 units per floor. Interiors will be designed by Pierro Lissoni with landscape architecture by Enzo Ena. The double-height lobby will also be designed by Lissoni and will feature a mixture of sophistication and modern designs with a permanent collection of museum-quality art located throughout.
The location of this tower places residences near the Adrienne Arsht Center for the Performing Arts and the Miami Internation University of Art and Design. The Omni Station Bus Loop is also 1 block away.
With the reopening of borders and the lifting of the pandemic restrictions as of November 8, 2021, we will likely see an increase in international buyers, especially for the new construction towers. Currently, international buyers are representing around 50% of new construction developments when earlier in the year, they were only representing 20%.
Construction for the development is estimated for spring of 2022 with an anticipated completion date of 2024. If you or someone you know have an interest in purchasing at Casa Bella, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Groundbreaking for Onda Residences Officially Scheduled
The long-awaited Onda Residences has officially set a groundbreaking date for the beginning of November. According to a press release, the groundbreaking will take place on November 3 at 10:30 am located at 1135 103rd Street in Bay Harbor.
‘Onda Residences will rise 8 stories tall along the shore of Bay Harbor Islands. The tower is designed by award-winning architect Bernardo Fort-Brescia that will harness Italian-style finishes.
‘Onda’ itself in Italian means wave, and that’s exactly the effect the tower will have once seen off the shore. Developers include Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties. The lush landscaping will be designed by Enzo Enea who is responsible for the projects One Ocean and Icon.
This boutique waterfront tower will provide more than 300 feet of bay frontage with a private marina and views of Biscayne Bay and the Atlantic Ocean. The 41 luxury residences feature 2 + den to 4 bedroom options from 1,809 to 3,523 square feet floor plans. There are also 4 penthouses currently available as well.
Construction Information
Developers: Ugo Colombo and Valerio Mortabito
Interior Design: Carlo y Paolo Colombo
Architect: Bernardo Fort-Brescia
Residence Amenities
2 Bedroom + den (1,809 square feet) to 4 bedroom + den (3,523 square feet)
4 penthouse options
Spacious terraces available
Amenities
Private Marina with 15 boat slips ranging from 36 to 60 feet
Direct ocean access through Haulover inlet
Watersports launch dock with available kayaks, paddleboards, and inflatables
Covered valet drop-off
Personal parking spaces in a fully enclosed garage
Electric vehicle charging stations
Bicycle storage
Secured individual residential storage space
Front desk reception
24-hour security video surveillance
24-hour valet
Wi-fi available throughout all public spaces
FTTH (fiber to the home) for voice, video, and high-speed internet
Integrated digital concierge
Pricing
Price ranges from $1.8 million to $9.5 million
HOA is $1.29/sf
Deposit Breakdown:
10% with Reservation
10% at Contract
10% at Ground Breaking
10% at Top Off (summer 2022) /
60% at Closing
Construction is expected to be complete in early 2023. Onda is also at 60% pre-sold and a majority of the buyers are domestic.
