LOFTY Club Residences Debuts in February-50% of Units Reserved
Lofty Club Residences will officially debut on February 17th with the grand opening of the brand’s sales lounge. As of this month, the project has reached 50% reserved and continues to climb.
Similar to its sister tower, NATIIVO (which sold out less in less than a year) Lofty will feature 380 units of fully finished and furnished interiors that will be available for rent nightly, daily, and/or monthly. Residents will have the option of self-managing their units (VRBO or Airbnb) or using Lofty’s onsite management.
Rising 44 stories, Lofty will feature studio, 1, and 2 bedroom floor plans with 485 to 930 square feet options. Pricing starts at $493k for a studio. There will also be available penthouses but the information hasn’t been released as of now.
Designed by internationally acclaimed, Arquitectonica, interiors will be designed by a New York-based interior design company INC New York. Developer Harvey Hernandez is also responsible for Brickell House and Centro towers. Hernandez purchased Lofty lot for $50 million
Lofty will feature a number of wonderful amenities including a butler service, rooftop pool, car service, and a 5-star restaurant that hasn’t been disclosed. This tower will also include a private marina with available docks for boating.
Building Features
The 40-story landmark building designed by internationally acclaimed architecture firm, Arquitectonica
Prime Brickell location is steps from Brickell City Center
Short-term rentals permitted as-of-right
Spectacular panoramic Miami River, Brickell, and Miami skyline views
2 Story lobby with floor to ceiling windows 24-hour welcome desk with concierge 24-hour valet parking 24-hour secure access Advanced technology smart-building with high-speed fiber-optic wireless internet access throughout common areas
Exclusive LOFTY app
Cutting-edge green building technology
6 high-speed passenger elevators with access control
On-site hospitality management Curated River-front restaurant with outdoor dining terrace
Building Amenities
Exotic resort pool with pool-side cabanas
Bar and grill on pool deck 24/7
Co-working lounge Private meeting rooms
Event room with exclusive terrace
A fully-equipped, state-of-the-art fitness center with HD TVs and wireless audio Private Peloton studios Yoga lounge and terrace
LOFTY Rooftop Experience
Residence Features
Urban luxury residences with modern open layouts from 485SF—930SF Studio, one and two-bedroom units
All residences are delivered fully finished and furnished specially curated by INC
Panoramic Miami River, and Miami skyline views
Private balconies for every residence
Corner units offer wrap-around balconies
High ceilings ranging from 9’ to 11’
Owner closets in every residence
Floor-to-ceiling sliding glass doors and sound attenuating impact-resistant laminated glass throughout
Advanced technology Smart Building wiring for HD TV,
Multiple telephone /data lines and ultra-high-speed internet access
Individually controlled energy-efficient central air conditioning and heating system
Kitchen
Imported European cabinets with premium hardware and drawer pulls
Top of the line appliance package including stainless steel refrigerator, oven, cook-top, microwave, dishwasher and sink disposal
Elegant imported stone countertops and backsplashes
Contemporary stainless steel under-mounted sink
High-arc gourmet faucet with integral sprayer
Master Bathroom
Imported European cabinets with premium hardware and drawer pulls
Elegant imported stone countertops and backsplashes
Harvey Hernandez, CEO of Newgard Development Group, “Buyer’s desire for new ways to own and use real estate assets, paired with favorable locations and economics, are nurturing investment growth in our properties.”
The groundbreaking is expected to begin in quarter 4 of 2022. The construction completion date is expected in 2024. If you or someone you know have an interest in purchasing at Lofty Brickell, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Related Group along with W5 Group Break Ground on Wynwood Project-W28
In Miami’s Wynwood art’s district, the Related Group has partnered with W5 Group on a massive mixed-use project. According to a press conference, the Related Group has officially began construction with the ground breaking of the project, W28.
W5 Group has been the lead equity partner in the development, committing 80% of the capital for the project. The location of the development will be at 33, 45, and 51 NW 28th Street in Wynwood. The tower is being designed by Arquitectonica.
W28 will feature 200 fully furnished units that will be designed for co-living. The development will also feature 3,600 square feet of ground floor retail, co-working space, common areas, fitness center, rooftop pool, and outdoor space for activities.
The concept came to the founder of W5 because he believed that millennials needed affordable house with a co-living concept.
“As neighborhoods become more desirable, young people are often priced out. Co-living is an exciting proposition that offers tremendous value, enabling them to experience modern living in highly attractive units – all while meeting like-minded individuals and forming rewarding new bonds in coveted metropolitan areas,” stated found of W5.
The Related Group purchased the 2.1 acre site for $6.5 million in June 2021 for the 3 properties that consisted of a 12-unit apartment building, 4 bedroom house, and an additional vacant lot.
The Related Group has already completed Wynwood 25, a different co-living project that was co-developed along with East End Capital. The Related Group is also planning an additional project located at 2801 NW 3rd Avenue that they paid $32 million for last year.
“According to The Related Group executive vice president Jon Perez. “This collaboration with W5 Group is consistent with our commitment to ensuring that every new project in Wynwood, regardless of size and scale, enhances the neighborhood’s livability without compromising its rich culture.”
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.
Current Site of 1428 Brickell
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.
Dezer Development Plans to Launch Sales for Bentley Residences this Month
Following the completion of the $10 million oceanfront sales center, Dezer Development plans to begin sales of Bentley Residences this year. The sales center and site located in Sunny Isles Beach features a full model unit for potential buyers.
Bentley Residences will be located at 18401 Collins Avenue and will be considered the world’s first Bentley-branded residential building. According to the Developer, once sales launch, they plan for a $1.2 billion sellout.
Seeking to capitalize on the region’s high demand for residential real estate, developers have been hurrying to begin sales of new condo buildings around South Florida. This was one of the driving factors to get the sales launched for Bentley Residences
Dezer plans to open the sales center in two phases, one at the end of January 2022 and the second phase in March 2022. The 12,000-square-foot sales center, which will be built on the site of the former Armani/Casa Residences sales gallery, at 18325 Collins Avenue, will contain a 6,000-square-foot model of a Bentley unit, a broker’s lounge, and a theater for presentations.
According to a press release, a life-sized Bentley sculpture will be displayed outside of the sales gallery before being relocated to the Bentley Residences site after completion of the tower.
The project itself will rise 60 stories tall at 749 feet. The tower will feature 216 luxury condos with in-unit garages and some units showcasing large pools on the balconies. Pricing for units will range from $3.9 million to $6 million for water-facing units. Ocean-facing units will range from $5.5 million to $7.5 million while penthouses will be in the $20 million range.
Units on the east side will have four-car garages, while those on the west side will have three-car garages. With its patterned glass, the Sunny Isles structure will be “unmistakably Bentley,” according to Dezer.
Designed by Sieger Suarez Architects, the 3.6-acre property will feature a gym, pool, spa, theater, restaurant, lounge, bar, cabanas, and gardens.
Construction is set to begin in summer 2022 with completion in 2026.
Terra Group Receives $141M Construction Loan for Mixed-Use Project in Bay Harbor Islands
Miami’s very own Terra Group has received a $141 million construction loan for its Bay Harbor Islands mixed-use project.
According to a statement from a Terra affiliate that owns the site, the Coconut Grove-based business received finance for its construction at 1177 Kane Concourse. The lender is Mack Real Estate Credit Strategies.
Terra, led by David Martin, spent $31.5 million for the site on Kane Concourse and West Bay Harbor Drive in June.
The release states that the project would include a residential aspect as well as Class A workspaces as well as retail space. There will be a “signature food and beverage” concept on the main level of the tower.
Specifics on the project have not been released like square footage and where the tower will include condominium units or apartments.
Northwood Ravin and Wharton Equity Partners’ Wharton Urban real estate investment platform obtained clearance from the council in 2020 for 90 residential units, 98,800 square feet of office space, and 14,900 square feet of commercial space. Terra Group took over the development agreement issued to the sellers by the Bay Harbor Islands Town Council.
Last summer, soon before Terra purchased the land, the Town Council agreed to transfer the development agreement to Terra’s affiliate.
Miami Developer Plans to Rebuild The Wharf in a $185 Million Project
On the site of the iconic downtown Miami’s The Wharf along the Miami River, a Miami developer is teaming up with Driftwood Capital to build a $185 million Dream Hotel and entertainment complex.
The Riverside Wharf project will consist of two 10-story buildings, one of which will house the 165-room Dream Miami hotel. According to a press release, it will also contain a restaurant, nightclub, and entertainment establishments, including an expanded and updated version of the Wharf. Some additional amenities will be built including a deep-water yacht port, and a public riverwalk.
A 16,000-square-foot restaurant, a 12,000-square-foot event hall, a 30,000-square-foot nightclub/rooftop dayclub, and 600 feet of river frontage are all planned for the 200,000-square-foot project.
Garcia’s Fish Market may also set up shop on the property as a pop-up market. Its commercial fishing activity used to be located on the property.
In 2016, voters in Miami approved a deal that awarded MV Real Estate Holdings, led by Alex Mantecon and Guillermo Vadell, a long-term lease on half of the land. The other half is also owned by MV Real Estate Holdings and is located in an Opportunity Zone.
The 1.5-acre Miami River property at 114 Southwest North River Drive was developed by MV Real Estate Holdings and its partner, Coral Gables-based Driftwood Capital. Nitin Motwani, the managing partner of Merrimac Ventures and the developer of the Miami Worldcenter, is also a general partner in the project, according to Mantecon.
According to Mantecon of MV Real Estate Holdings, the developers plan to seek project permissions from the Miami River Commission in January and then go before the Miami City Commission. Cube3 architects’ John Cardello is designing it, with landscaping by Savino-Miller Design Studio.
Once approved, construction is planned to begin in 2022 with a completion date in 2025.
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.
Miami is Getting St. Regis Branded Twin Condominium Towers
The Related Group and Integra Investments are teaming together to transform the beachfront site of an affordable senior living housing facility in Miami into a pair of luxurious St. Regis-branded condo buildings. The towers are expected to rise 48 and 47 stories tall on 3.16 acres on 1809 Brickell Avenue.
The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.
Since 2014, Miami-based Integra has owned the existing bayfront building, formerly known as the Stanley Axelrod Towers. Integra paid $14 million for the 17-story tower currently located at the pre-construction site called the George Humphreys Tower built-in 1966.
According to documents from the Department of Housing and Urban Development withdrew the building from its affordable housing agreement in summer 2021. This implies that one of the remaining affordable housing complexes in Miami’s Brickell Financial District, one of the most expensive districts, will be demolished shortly.
According to a principal at Integra, Nelson Stabile, “Given the insatiable demand for top-tier residential product, we feel the market is ready for a bespoke building of this caliber — a masterpiece with an elevated lifestyle experience that only the iconic St. Regis brand can deliver.”
Units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million. Throughout the twin towers will span 55,000 square feet of amenities that will include a St. Regis Tea Room, an indoor lap pool, and a residents-only restaurant.
While the building will not include a hotel and short-term rentals will not be authorized, St. Regis Hotels & Resorts, located in New York, will provide services to future condo tenants.
Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.
