Invite Only New Construction Luxury 50 Unit Condominium to Break Ground on Fisher Island Miami
The Related Group is making waves in South Florida with their newest condominium project on the exclusive Fisher Island. The invitation only condo tower would include 50 luxury residences with a select number of penthouses.
The wealthy have long made Fisher Island, which is located at the confluence of Biscayne Bay and the Atlantic Ocean and is a seven-minute ferry trip from Miami Beach.
Oprah, Julia Roberts, and Mel Brooks are all known to have lived on Fisher Island in the past. The enclave has also received some accolades: Bloomberg found in April 2018 that Fisher Island, with an average income of $2.5 million in 2015, was America’s wealthiest ZIP code.
According to Jon Paul Perez, Related’s President stated, “We are currently working with our sales teams to develop our list of VIPs. People can live their entire lives on the island and, as such, develop close relationships with neighbors and fellow residents. That’s the feeling we want to create at our job. We want our buyers to get to know one another, and forge close friendships that elevate this beyond just another one of their homes.”
The proposed condo site, which is the last developable parcel on the 216-acre island, was just purchased for $122.6 million by Related Group, billionaire tycoon Teddy Sagi, BH Group, and Wanxiang America RE Group.
When the unnamed property is finished, units will cost about $30 million, while penthouses will cost more than $60 million.
Project Details:
3 to 5 bedroom residences
Membership to Fisher Island Club
Golf course
Tennis facilities
Marinas
The project’s architect is listed as Kobi Karl with interiors by Tara Bernerd and Partners.
Sales are expected to begin at the end of 2022 with construction anticipated in quarter 4 of 2023.
Robert Rivani’s Black Lion Buys Retail Space at One Thousand Museum
Los Angeles-based investor Robert Rivani’s Black Lion paid $6.4 million for the ground-floor 6,500 square foot retail space inside the One Thousand Museum in Downtown Miami.
This week, the all-cash deal was completed. Black Lion intends to lease the area to a reputable hospitality company, but talks have not yet started, according to a firm representative.
Rivani stated, “One Thousand Museum is one of the most iconic and architecturally significant buildings in all of Miami. I knew we had to have a piece of it.”
The most recent purchase represents the investor’s tenth in South Florida during the previous two years, which also included a number of prestigious retail buildings.
Black Lion paid $13.5 million for the ground-floor retail space of the SLS LUX Brickell condo project last year. This space is now occupied by the popular Gekko steakhouse, a Bad Bunny and Grutman collaboration.
Additionally, the real estate investor spent $11.5 million and $19 million for retail condos in Miami Beach’s South of Fifth district. The company also owns the space that the popular upscale restaurant The Amara at Paraiso leases in Edgewater.
The 84-unit condominium was finished in 2019 by the developers of One Thousand Museum, a partnership made up of Louis Birdman, Gilberto Bomeny, Kevin Venger, Gregg Covin, and Todd Michael Glaser. They also sold the retail space to Black Lion.
Eco-Friendly Mixed-Use Building Proposed in Coral Gables
Along the well-known Miracle Mile district of Coral Gables, Terranova Corp. intends to construct what might be the first mixed-use carbon-neutral structure in South Florida.
The office and retail building will generate all of the energy required to run it on-site, according to the Miami Beach-based developer. Using photovoltaic glass to capture solar energy, battery systems to store it, and energy-efficient AC and elevator systems might be done.
The total square footage of the four-story structure at 93 Miracle Mile would be 36,482. The building would feature 26,167 square feet of area for shops and restaurants and the rest for offices. A rooftop terrace would also be present.
According to Chairman of Terranova, Stephen Bittel, “93 Miracle Mile will be a revolutionary project, not only as a platform to champion Coral Gable’s dignitaries as forward-thinking leaders in sustainable development but also a blueprint for other developers and city planners as we face a climate crisis around the world. The modern proposed structure respects the scale of Miracle Mile, and uses traditional stone materials on the exterior, while also incorporating the best environmental options for the future.”
The developer paid $6.8 million for the 10,164-square-foot site in 2021 through an associate. The 9,097 square foot retail facility that it currently has would be torn down.
The project’s design was created by Miami-based Arqutiectonica and is awaiting local permission. Onyx Solar, based in Spain, was chosen to supply the solar glass. The solar glass will help with insulating the building as well as generating solar energy. The rooftop design will create a trellis that helps support the suspended orchid garden.
Empira Group Purchases Building Site for an 85 Unit Residential Project-CoralGrove Brickell
Empira Group, a Swiss company, has recently invested $9 million in a multifamily building site in Miami’s The Roads neighborhood as part of its introduction into South Florida’s real estate market.
According to a news release from the developer, Empira plans to erect the eight-story CoralGrove Brickell project on a half-acre plot of land adjacent to Coral Way, between 3025 and 3051 Southwest Third Avenue.
The property currently consists of a two-story and a one-story apartment structure, both of which are vacant and scheduled for demolition this year.
CoralGrove will contain 85 units, ranging from one-bedroom to three-bedroom homes, and 900 square feet of ground-floor retail space.
According to Rafael Aregger, Empira’s head of investments in the U.S., the previously approved 79-unit proposal for the site is being modified by Empira to add more units and relocate a pool that was originally planned for a mezzanine level to the rooftop.
According to Aregger, Empira, which has its headquarters in the town of Zug, manages investments on behalf of German organizations like pension funds, insurance companies, and banks. Empira, led by CEO Marcus Bartenstein, manages $7 billion in assets.
The company entered the United States two years ago, but its primary area of interest is real estate in German-speaking regions of Europe. Together with its joint venture partner Zidan Management Group, it has since built up a 2,100-unit apartment portfolio in the Midwest. The company’s American headquarters are in Empira’s Miami location. Additionally, it maintains offices in Stockholm, Dubai, and London.
According to Empira, the business is considering future development in Sun Belt states including Arizona, Texas, and Florida.
Construction on CoralGrove Brickell is anticipated to begin in 2023 with a completion date in 2025.
Related Group Requesting Permission to Develop Mixed Use Project on Miami River
The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.
The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.
The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.
In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.
The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.
The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.
It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.
On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.
Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.
Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.
The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.
The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.
The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.
Highest Penthouse at Paramount Miami Worldcenter is Now For Sale at $10.71 Million
At the current price of $10.71 million, the tallest penthouse in RPC’s Paramount Miami Worldcenter is now for sale.
With sweeping views of Miami from the 57th and 58th floors of the tower, Penthouse 5700 has 5,225 square feet spanning throughout four bedrooms, five and a half bathrooms, and a den that can be utilized as either a home office or a library in the unit. An open-style chef’s kitchen, floor-to-ceiling windows, double-height ceilings, and plenty of space for entertaining are included in the amenities of the property.
Penthouse 5700 will have access to the building’s 46 amenity spaces, which are the most residential amenities in the world and include the nation’s first outdoor soccer field in a high-rise residential building, resort-style swimming pools, tennis courts, a Tai Chi deck, and a boxing studio.
The purchaser will be residing among celebrities thanks to Paramount’s comprehensive array of sporting amenities, which has drawn a wide range of professional athletes.
Located in Miami Worldcenter, an entire city within a city and the second largest master-planned urban project in the country, Paramount offers walkable access to the best restaurants, cultural and entertainment venues in town.
The 58-story Paramount Miami Worldcenter, which was completed in August 2019, has 569 condo homes with studio, one, two, and three-bedroom floor layouts, as well as penthouses.
The Paramount Miami Worldcenter’s ordinary tower residences have interior square footage of 1,294 to 2,376 plus balconies, whilst its penthouse residences have interior square footage of 3,509 to 6,000 plus balconies.
The typical condo homes at Paramount Miami Worldcenter have either 11-foot- or 14-foot-deep terraces, private elevators, and 10-foot high ceilings with floor-to-ceiling glass windows.
Eight magnificent bi-level penthouses at Paramount Miami Worldcenter include 20-foot high ceilings, floor to ceiling glass windows, and panoramic views of the city and lagoon.
Elkus Manfredi Architects created Paramount Miami Worldcenter, which was created by Paramount Ventures. ID & Design International created the lobby and common areas.
Cipriani Residences Miami Reveals New Interior Renderings
With the newest condominium project in Miami, Cipriani Residences Miami is adding to its illustrious portfolio once more with its exclusive first glimpse at the exquisite interiors of the highly anticipated development.
The renowned hospitality organization chose the internationally renowned studio 1508 London to design the interiors of Cipriani Residences Miami, which is the group’s first residential skyscraper built from the ground up. 397 homes with one to four bedrooms will be available in the building, all of which have views of Coconut Grove, Brickell, and Biscayne Bay.
The Cipriani Residences Miami exudes a stylish, contemporary ambiance, similar to the burgeoning Brickell district, but with a European flair. Consider furniture covered in Italian leather, chandeliers from Venice, and rooms with beautiful walnut finishes. The enormous curved glass high-rise by Arquitectonica blends seamlessly with the city’s financial district’s skyline.
The double-height foyer, which modernizes Venetian design, is one of the building’s most alluring aspects. The elegant area is layered with Italian terrazzo floors, oak accents, and an actual Murano glass chandelier. It was designed to transition from day to night. The color scheme combines distinctive Cipriani tones with warm camel and blue tones.
Each house, which ranges in size from 1,213 square feet to 3,495 square feet, includes floor-to-ceiling glass windows, large terraces, and lofty 10-foot ceilings as standard features. Among the opulent features you’ll discover inside are open eat-in chef kitchens, integrated Wolf Sub-Zero appliances, and light pendants with Art Deco influences, as well as Dornbracht fixtures in the main bathroom and, of course, handcrafted Italian cabinetry designed to reflect the Cipriani aesthetic.
CEO and Founder of Mast Capital stated, “The interior design of Cipriani Residences Miami demonstrates a fundamental richness that recalls the timeless elegance of four generations of the Cipriani family. 1508 London has envisioned an offering that captures both the inherent spirit of Cipriani and the sophisticated lifestyle of Miami.”
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 with a completion date in 2026. Reservations are expected to be converted to contracts next month which will coincide with the launch of their sales center.
If you or someone you know have an interest in purchasing at Cipriani Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
A New Speakeasy Bar to Open in Downtown Miami-Freddys
Freddys, a speakeasy-themed bar, will debut on August 25 in the heart of downtown Miami and is located right within the InterContinental Miami hotel.
Take the escalator up to the lobby, then search for a plain white door leading to the Chopin ballroom towards the rear of the building. You will be given instructions on how many times to tap (think morse code) and how to accomplish it after receiving your desired reservation.
According to the website, “Our host will permit entrance to those with the correct knock.”
You’ll discover a romantically lit treasure box with soft chairs, elaborate Oriental rugs, and a candlelit bar behind the embellished curtains. Here, you may order drinks that evoke the Prohibition era and are created with herbs, house-made bitters, and freshly squeezed juices.
Due to Freddy’s limited seating capacity of 12 people, reservations are required only for seatings at 5 p.m., 7:30 p.m., and 10 p.m. on Thursday, Friday, and Saturday nights.
This quiet, inconspicuous lounge is perfect for the gram. There’s also a coat rack brimming with flapper-inspired accessories located at the entryway to dress like you’re in the actual era.
Freddy’s is located at 100 Chopin Plaza at the InterContinental Miami. For more information, click here.
Want to Fly to Miami from London in 5 Hours? American Airlines is Trying to Make it Happen
Thanks to American Airlines’ recent purchase of 20 new supersonic planes, passengers may soon be able to travel from Miami to London in less than five hours.
The agreement between American Airlines and Boom Supersonic to buy up to 20 Overture aircraft, with an option for a further 40, was made public on Tuesday.
With a range of 4,250 nautical miles, Overture aircraft are intended to carry 65 to 80 passengers at Mach 1.7 over water, which is twice as fast as the current fastest commercial aircraft.
According to American Airlines’ CFO, Derek Kerr, “Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers. We are excited about how Boom will shape the future of travel both for our company and our customers.”
According to the business, Overture aircraft might someday travel more than 600 flights around the globe in as little as half the time.
There are several options, such as flying from Los Angeles to Honolulu in three hours or from Miami to London in under five.
With Overture, the world’s fastest aircraft, Boom Supersonic is revolutionizing air travel. Overture was designed for speed, safety, and sustainability. Overture, which will serve both civil and government markets, is built to run entirely on sustainable aviation fuel and will travel twice as fast as today’s airliners.
Overture is expected to debut the Boom Supersonic in 2025 and carry its first passengers by 2029, received its final production design in July.
Thanks to American Airlines’ recent purchase of 20 new supersonic planes, passengers may soon be able to travel from Miami to London in less than five hours.