701 Brickell Office Tower Sold for Record-Breaking $443M
The prestigious 701 Brickell office tower has been sold for a staggering $443 million, setting a new record as the highest price ever paid for an office building in the Brickell area. This sale also represents the second-largest office building transaction in Florida’s history, trailing only the $540 million sale of the Southeast Financial Center in 2016.
This 32-story, 685,279-square-foot building, completed in 1986, has long been a landmark in the Brickell business district. Property records show that it last sold in 2002 for $172 million, making this latest deal a remarkable return on investment. The sale comes shortly after the completion of a $30 million capital renovation plan that modernized the property, enhancing its appeal to high-profile buyers.
The buyers, Morning Calm Management and an undisclosed partner, now hold a key piece of Brickell’s real estate landscape. Interestingly, a Bloomberg report from last month had indicated that Elliott Investment Management and its partners were in contract to purchase the property, adding an intriguing layer to the final transaction.
This sale is not just a reflection of the high demand for office space in Miami’s thriving financial district but also highlights Brickell’s growing stature as one of the most desirable office markets in the U.S. With its prime location, state-of-the-art amenities, and recent renovation, 701 Brickell is poised to remain a flagship property in the area for years to come.
HueHub: A Massive Mixed-Use Project Planned for Miami-Dade County
27th Ave HollandPark EcoreResidences LLC is setting the stage for a major development in Miami-Dade County. If approved by city officials, the proposed project, named HueHub, will be one of the largest mixed-use developments in the area, with plans to include five high-rise buildings ranging from 26 to 37 stories.
Project Overview
According to details released by the South Florida Business Journal, the ambitious plans for HueHub outline:
3,233 residential units
57,260 square feet of retail space
A one-story amenity center
Two parking garages with a total of 468 spots
The venture will seamlessly integrate both residential and retail components, creating a self-sustaining community. Images shared by Miami Condo Investments provide a glimpse into this future development.
Site Acquisition and Current Status
The developer acquired the 12-acre site for $29.3 million in 2023. The area currently houses an office building, a church, and Covenant Palms, a 140-unit affordable housing development. Prior to groundbreaking, these existing structures are slated for demolition, paving the way for the new construction.
Architectural Vision by Arquitectonica
Arquitectonica, a renowned Miami-based architectural firm, is the mastermind behind HueHub’s design. The firm is also working on another 28-story tower, as recently covered by Florida YIMBY, which will feature 454 residences, with 40 percent (around 181 units) dedicated to workforce housing for individuals earning up to 120 percent of the area median income (AMI).
HueHub and Florida’s Live Local Act
HueHub is among the largest projects being developed under Florida’s Live Local Act. This legislation allows developers to increase unit density and building height while bypassing the need for extensive community feedback. Currently, the Miami-Dade County Department of Regulatory and Economic Resources is in the process of reviewing the project’s details.
If given the green light, HueHub will rise at 8400 NW 25th Avenue in the unincorporated West Little River neighborhood of Miami-Dade County. This location, combined with the project’s scale and vision, promises to significantly transform the landscape of the surrounding area.
New Residential Tower Planned for Miami’s Little River: Developers File FAA Permits for 360-Foot-Tall Building
Developers 8038 and 165 Owner LLC, an Infinity Collective and MVW Partners affiliate, have taken a significant step towards bringing a new residential tower to Miami’s Little River neighborhood. On September 17, 2024, they submitted a request to the Federal Aviation Administration (FAA) for approval to construct a 360-foot-tall building (or 368 feet above mean sea level). This application marks a major milestone in the project’s development as it awaits FAA review.
The proposed tower will rise at 165 Northeast 80th Terrace and 8038 Northeast 2nd Avenue. The 28-story building, designed by the renowned architectural firm Arquitectonica, will house 454 residential units. Significantly, 40% of these units are earmarked as workforce housing for individuals earning up to 120% of the area’s median income. The workforce units will range from 410-square-foot studios to 667-square-foot one-bedroom apartments, providing affordable living options in the heart of Miami.
Market-rate units will offer a broader range of sizes, from 581-square-foot one-bedroom apartments to spacious 1,162-square-foot two-bedroom apartments. This diverse mix of housing options ensures that the development caters to various income levels and lifestyle needs.
In addition to residential units, the development will feature 19,900 square feet of commercial space and 697 parking spaces. Residents will have access to an eighth-floor amenity deck, complete with a pool, sports court, gym, entertainment room, dining room, and kids’ room. Ground-floor amenities will include retail spaces, coworking areas, and a dog wash station, enhancing the living experience and fostering a vibrant community atmosphere.
The development team acquired the 2.17-acre site—formerly an AT&T telecommunications facility—for $13.36 million in 2022. By utilizing Florida’s Live Local Act, the developers have been able to bypass traditional zoning restrictions, allowing for increased height and density in exchange for dedicating a portion of the units to workforce housing.
Pending the FAA’s approval, the team aims to commence construction in the second quarter of 2025, bringing much-needed residential options to the evolving Little River neighborhood.
The submission of FAA permits for this new residential tower marks an exciting development for Miami’s Little River area. As the project moves forward, it promises to deliver a blend of affordable and market-rate housing, state-of-the-art amenities, and community-focused features, contributing to the ongoing transformation of this vibrant Miami neighborhood.
Exciting New Retail and Restaurant Concepts Coming to Miami Worldcenter
Miami Worldcenter, the $6 billion, 27-acre mixed-use development that’s transforming Downtown Miami, is set to welcome three exciting new tenants by early 2025. The latest additions to the vibrant project include Go Greek Yogurt, HŸP, and SkinSpirit, all of which promise to bring unique experiences to the growing retail and dining scene.
Developed by Miami Worldcenter Associates, under the leadership of Managing Partners Art Falcone and Nitin Motwani in partnership with CIM Group, Miami Worldcenter stands as one of Florida’s largest privately owned urban real estate projects. Spanning 10 city blocks, the development offers a blend of residential, commercial, and hospitality spaces, complemented by 300,000 square feet of retail, dining, and entertainment venues.
New Tenants Coming Soon
Go Greek Yogurt: This Beverly Hills-based yogurt bar and café will open its first Florida location at Miami Worldcenter in late 2024. Spanning nearly 1,300 square feet on the Paseo Promenade, Go Greek Yogurt will offer authentic fresh and frozen Greek yogurt with ingredients imported directly from Europe, promising a healthy and flavorful dining option.
HŸP: Known for its curated selection of top-tier streetwear brands such as Nike, Adidas, and Chrome Hearts, HŸP will also debut in late 2024. The 1,300-square-foot sneaker and streetwear retailer will add another layer of fashion-forward appeal to the Paseo Promenade.
SkinSpirit: Arriving in early 2025, SkinSpirit’s 1,700-square-foot medical aesthetics spa will mark the company’s first foray into South Florida. With a national reputation for top-tier services like Botox and dermal fillers, SkinSpirit’s arrival will enhance Miami Worldcenter’s wellness offerings.
Expanding Retail and Dining Scene
These new tenants will join an impressive roster of businesses already open at Miami Worldcenter. Notable venues include Sixty Vines wine-on-tap restaurant, Chef Michael Beltran’s Brasserie Laurel, Chug’s Express, and El Vecino Cigar & Cocktail Bar. Popular retailers like lululemon, Sephora, Ray-Ban, and Free People are also part of the development, alongside entertainment options such as Lucky Strike bowling, the Museum of Ice Cream, and a Lucid Motors showroom.
Additionally, more high-profile names are set to open soon, including Juvia, Villa One Tequila Gardens, Chicago’s Maple & Ash, and Serafina, along with Club Studio and The Spot Barbershop.
A Destination for the Future
Miami Worldcenter is not just a place to shop and dine; it’s a cultural and residential hub that enhances Miami’s urban experience. The project includes completed developments such as the 351-room citizenM hotel, the luxury Paramount Miami Worldcenter condominium, and market-rate apartments Flow and Bezel Miami. Under construction are major projects like Miami World Tower 1 and The Crosby, while future residential towers by leading developers are also planned.
In addition to its retail and residential elements, Miami Worldcenter will feature World Square, a 20,000-square-foot outdoor public plaza, and a $5 million public art initiative that will transform the space into a permanent outdoor museum with works curated by Jeffrey Deitch and PRIMARY.
Its strategic location places it within walking distance of cultural landmarks like the Pérez Art Museum, Adrienne Arsht Center, and the Brightline MiamiCentral station, making Miami Worldcenter one of Florida’s most well-connected and transit-oriented developments.
Construction Begins on Rivage Bal Harbour: A New Pinnacle of Luxury Living
Excitement is building in South Florida as construction officially kicks off on Rivage Bal Harbour, an ultra-luxury condominium project set to redefine opulent living in one of the region’s most exclusive communities. This ambitious development is a collaborative effort between industry giants Related Group, Rockpoint, and Two Roads Development, with architectural mastery from the esteemed firm Skidmore, Owings & Merrill (SOM) and exquisite interiors designed by Rottet Studio.
Nestled between the serene Intracoastal Waterway and 200 feet of pristine oceanfront, Rivage Bal Harbour will house 56 lavish residences, cleverly dubbed “sky villas.” Ranging from a generous 3,300 to nearly 13,000 square feet, these homes are thoughtfully designed to harmonize modern luxury with the natural beauty of South Florida. Each residence will feature the convenience of in-unit elevator access and private parking garages, ensuring a seamless living experience.
Residents will also enjoy expansive terraces that provide breathtaking views of the ocean and Biscayne Bay—the perfect backdrop for relaxation or entertaining guests.
The design of Rivage Bal Harbour boasts open-concept floor plans that epitomize spaciousness and light. Gourmet kitchens are equipped with top-of-the-line Sub-Zero and Wolf appliances, while bathrooms and closets showcase high-end Italian finishes, providing an atmosphere of sophistication at every turn.
The development promises to cater to the desires of luxury buyers, capitalizing on Bal Harbour’s reputation for exclusivity and its prime location near the renowned Bal Harbour Shops.
Rivage Bal Harbour is set to offer an unparalleled suite of amenities, with over 25,000 square feet dedicated to wellness and recreation. Future residents can indulge in a state-of-the-art fitness pavilion, a hammam spa complete with hot and cold plunge pools, and private treatment rooms for ultimate relaxation. For those who enjoy sports, outdoor pickle and paddle ball courts will be available, while leisurely pursuits include private dining services and a chic cocktail lounge.
Families will appreciate the inclusion of a kids’ playroom and a high-tech VR game simulator, making Rivage a community where all ages can thrive. Residents can also expect the luxury of resort-style services, including a 24/7 residential butler and concierge.
Managed by Coastal Construction Group, Rivage is on track for completion in 2027. The development team is confident that this project will fill a significant gap in the supply-constrained Miami market, catering to the increasing demand for high-end properties.
Since its inception in 1929, Bal Harbour has attracted affluent residents and visitors, blending cultural richness with a sense of privacy and exclusivity. With Rivage Bal Harbour, this legacy is poised to flourish even further, offering a living experience that is as luxurious as it is unique.
Abbhi Capital’s Miami Worldcenter Site: Fence Permit Under Review and Plans for Two Towers Revealed
A significant step in the development of the Abbhi Capital site at Miami Worldcenter is now in motion. A permit to install a fence around the construction site is currently under review by Miami’s Building Department. The permit, which was applied for on August 24th, lists an estimated construction cost of $11,500.
This comes as further development plans for the site move forward. In September 2023, detailed plans were submitted to Miami’s Urban Development Review Board (UDRB) outlining an ambitious two-tower project. According to the submission, the site will feature two towering structures: a 59-story north tower rising 643 feet above ground (655 feet above sea level) and a 33-story south tower reaching 453 feet above ground (465 feet above sea level).
The proposed development includes:
558 residential units in the north tower
368,362 square feet of office space in the south tower
A 7,109 square foot ground-floor restaurant
1,319 vehicle parking spaces housed within an 11-story podium, partially lined with residential units
This project marks another milestone in the rapid growth of Miami Worldcenter, one of the largest urban developments in the U.S., and further underscores Miami’s transformation into a premier hub for luxury living and commercial space.
Keep an eye on this space as Abbhi Capital’s vision for Miami Worldcenter continues to unfold, with significant contributions to the skyline and urban landscape of downtown Miami.
Brickell’s Mercedes Benz Places Breaks Ground on Second Tower as Construction Progresses
The second tower at the highly anticipated Mercedes Benz Places Miami is now officially under construction. This luxury mixed-use project is a major milestone for the neighborhood, and the progress doesn’t stop there. Foundation work at the first tower is nearly complete, according to Serhant, the exclusive brokerage handling condo sales for the development.
Both towers will add to Brickell’s ever-evolving skyline, with the first tower rising to an impressive 780 feet and the second slightly shorter at 763 feet, as detailed in plans submitted to the county in July.
A Vision for Modern Living: What to Expect from Mercedes Benz Places
The combined development will offer a diverse range of amenities, including:
1,010 residential units
200 hotel units
142,129 square feet of commercial space
153,070 square feet of office space
881 parking spaces
38,582 square feet allocated for governmental use
Designed for the Future
JDS Development Group is leading the project, while ODP Architects is serving as the architect of record. With its strategic location, cutting-edge design, and mix of residential, hotel, office, and commercial spaces, Mercedes Benz Places is poised to become a standout addition to Brickell’s luxury market.
This development not only adds to the neighborhood’s vertical growth but also serves as a prime example of how Miami’s urban core continues to evolve into a global hub for high-end living and business. Stay tuned for more updates on the progress of this groundbreaking project!
Pagani Residences Reveals New Kitchen Interior Renderings
Developer for Pagani Residences Miami has unveiled a first look at the luxurious kitchens. The new interior renderings highlights the sophisticated design curated by A++, in collaboration with Pagani Arte, the recently established Made in Italy interior design division. These renderings offer a glimpse of the bespoke details potential buyers can select, with over 16 design elements available. Options include four countertop choices, two flooring styles, and two cabinetry selections, all meticulously crafted to combine art with functionality, resulting in truly elevated living spaces.
Pagani, renowned for exclusivity, stealth-wealth aesthetics, and handcrafted quality, delivers the same level of customization to its residences that it applies to its hypercars. Just as no two Pagani cars are alike, each residence in Pagani Residences can be personalized to reflect the unique tastes of its owner, ensuring an unparalleled living experience.
As Miami’s first-ever Hypercar-branded building, Pagani Residences will feature 70 waterfront homes with starting prices at $2.4 million. Located in North Bay Village at 7940 West Drive, this 28-story architectural masterpiece by Revuelta Architecture promises breathtaking views, privacy, and exclusivity. With Fortune Development Sales leading the marketing and sales efforts, the project is set for completion in 2027.
Each residence, designed with expansive 2,000 to over 3,300 square feet floor plans, offers spacious living with a focus on outdoor enjoyment. The homes feature expansive terraces ranging from 800 to 1,040 square feet, while the penthouse units boast 6,900 square feet of living space and up to 4,400 square feet of outdoor area, including private pools. Every unit offers high ceilings, with 11-foot heights in standard residences and 13-foot ceilings in penthouses.
Luxury doesn’t stop with the interiors. The Pagani Residences offer a suite of high-end amenities that take full advantage of the peninsula location with stunning waterfront views. Residents can enjoy access to a 240-foot waterfront boardwalk and private boat slips. The ground floor provides 24/7 concierge services, valet parking, a porte-cochere, pet spa, and dedicated storage for bicycles, paddleboards, and kayaks. For those seeking extra convenience, private garages and preferred parking are also available for purchase.
For relaxation and recreation, the property boasts an eighth-floor private residents’ lounge, complete with a library and media room, perfect for quiet reflection or social gatherings. Meanwhile, the 27th floor is home to a state-of-the-art wellness center, featuring a fully equipped fitness center, Pilates and yoga studios, and a spa with sauna and steam rooms, all offering stunning views of Biscayne Bay.
Atop the Pagani Residences on level 28 lies the ultimate in luxury living—a rooftop pool and sky lounge with 360-degree views of the Atlantic Ocean and Biscayne Bay. This serene oasis features poolside cabanas, hot and cold plunges, and fully appointed summer kitchens with chef’s grills for alfresco dining.
In keeping with the Pagani tradition of world-class craftsmanship and attention to detail, every aspect of this residential experience has been carefully designed to offer residents a blend of comfort, luxury, and unmatched exclusivity.
Related Group, BH Group, and Partners Break Ground on The Residences at Six Fisher Island
In a landmark moment for luxury real estate, the Related Group, in partnership with Teddy Sagi, BH Group, and Wanxiang America RE Group, has officially broken ground on The Residences at Six Fisher Island. This highly anticipated development will rise within one of the most exclusive communities in the U.S.—Fisher Island. Situated on the island’s last available development site, the 216-acre iconic community will soon boast 50 bespoke residences across 10 stories, setting a new standard for ultra-luxury living.
The project, overseen by Coastal Construction, is expected to be completed by 2026. Already 50% sold, The Residences at Six Fisher Island has generated over $500 million in sales, including the sale of two penthouses for a combined $150 million. Sales are being managed by Douglas Elliman, cementing the development’s place as a top-tier real estate investment in Miami.
“The groundbreaking of The Residences at Six Fisher Island marks a transformative moment for this historic island, being the first new development in over five years and one of its final luxury residential ventures,” said Nick Pérez, President of Related’s Condominium Division. “This project elevates the island’s esteemed legacy and establishes a new standard for Miami’s ultra-luxury market.”
Architectural & Design Excellence
Designed by Kobi Karp Architects, with interiors by Tara Bernerd and Partners, Six Fisher Island brings a seamless blend of modern Miami style and timeless tropical elegance. The residences—ranging from three to eight bedrooms—feature high ceilings, expansive terraces, and floor-to-ceiling windows, offering breathtaking views of the water and Miami skyline.
Each residence has been thoughtfully curated to deliver the exclusivity of a single-family home with the convenience of condominium living. Key features include:
Custom kitchens with Sub-Zero and Wolf appliances
Dual walk-in wardrobes in primary suites
Elegant, natural stone bathrooms designed by Tara Bernerd
Private elevator foyers for each unit, with select residences offering private pools and outdoor kitchens
Five-Star Amenities for Unmatched Living
The Residences at Six Fisher Island will offer an unmatched lifestyle, with over 1,000 feet of shoreline providing access to a host of world-class amenities. Residents can indulge in two resort-style pool decks with swimming pools, private cabanas, and full-service bars. The oceanfront wellness facility includes spaces for cardio, Pilates, yoga, and weight training, along with a full-service spa complete with saunas and treatment rooms.
Additional luxury features include:
A virtual reality game room
Multi-sport simulator
Interactive children’s playground
24/7 concierge services
Private transportation on and off Fisher Island
A Legacy of Exclusivity
Fisher Island has long been recognized as one of the most prestigious communities in both South Florida and the nation. Residents of The Residences at Six Fisher Island will gain access to the Fisher Island Club, which includes a nine-hole golf course, 18 tennis courts, a 24,000-square-foot spa, state-of-the-art fitness center, multiple dining options, a luxurious beach club, and a deep-water yacht marina.
“We are thrilled to move one step closer to bringing world-class residences to Fisher Island, where luxury meets community in the most sought-after zip code on the East Coast,” said Isaac Toledano, Founder of BH Group. “The surge in pre-sales reflects the island’s prominence as a global destination, and reinforces the project’s dominance as the premier choice for discerning buyers seeking the pinnacle of luxury living.”
As Fisher Island continues to stand as a beacon of exclusivity and prestige, The Residences at Six Fisher Island promises to deliver an unparalleled living experience—one that will undoubtedly shape the future of ultra-luxury real estate in Miami.
