South Florida’s Luxury Real Estate Landscape: A Glimpse into the Recent Transactions of Industry Titans
In the ever-evolving world of South Florida’s luxury real estate market, industry leaders from diverse sectors have recently sealed some notable deals. These transactions span the tri-county region, with property values ranging from a commendable $7.8 million to a staggering $10 million.
In the heart of Miami Beach, renowned actor Marjorie O’Neill-Butler parted ways with her cherished waterfront residence, fetching a price of $8.3 million. The new owners of the property at 603 East Dilido Drive on the Venetian Islands are Marcio Pacheco Ferreira and Luciana Augusto Mattoso Ferreira. Pacheco Ferreira is a distinguished partner and senior portfolio manager at Pharo Management, a hedge fund headquartered in New York City. The property, a classic built in 1935, boasts five bedrooms, three bathrooms, two half-bathrooms, and luxurious amenities like a pool and a dock. It was initially listed for $9.5 million last year.
Venturing further into Miami-Dade County, a prominent figure from Disney’s elite circle, Rich Frank, along with Leslie Frank, invested $8.7 million in a condo situated at Estates at Acqualina. Rich Frank’s illustrious career includes his tenure as president of Disney Studios and later as chairman of Walt Disney Television and Telecommunications. The couple’s current venture is the acclaimed Frank Family Vineyards in Napa. This property has also seen other high-profile transactions, including those by a dairy magnate and a jeweler.
Lastly, in the exclusive Admirals Cove community in Jupiter, financiers Tim Garry and Amanda Link sold their waterfront residence for a cool $10 million. The property, now under the ownership of the CKMH Family Trust, is a modern marvel built in 2020. Garry, a pivotal figure at the New York City-based Senator Investment Group, had initially purchased this property in 2021 for $6.5 million.
These transactions underscore the dynamic nature of South Florida’s luxury real estate market, reflecting the preferences and investment strategies of industry moguls.
New Renderings Revealed for St. Regis Residences Miami Sales Gallery
New interior renderings of The St. Regis Residences Miami have just been revealed. The Residences, which will be situated in the upscale South Brickell district, will tower 50 floors above the waterfront of South Brickell and provide a distinctive experience and design to the St. Regis brand.
The skyscraper was meticulously cultivated and maintained by a visionary team, including architecture by the prestigious Robert A.M. Stern Architects and interiors by the famous Rockwell Group. It was developed by Related Group along with Integra Investments.
All 152 of the units have access to more than 50,000 square feet of indoor and outdoor amenities, as well as magnificent views of the water and other world-class amenities.
There will be luxurious finishes throughout the two to six-bedroom units with large walk-in closets, spa-like bathrooms, and other amenities featured in the grand floor plans, which also have private elevators and entry foyers. Top-of-the-line Sub-Zero and Wolf appliances, custom Italian cabinetry, and imported natural stone worktops and backsplashes are all included in the kitchens. Additionally, every luxury unit will offer expansive views of Biscayne Bay and the glistening Brickell skyline.
The structure is surrounded by rich landscaping created by the renowned Swiss design company Enea Garden Design in park-like surroundings. Deliveries to homes, a house car that is kept on-site, a shoeshine service, and other special arrangements are just a few of the signature butler services that round out the lifestyle experience.
If you or someone you know have an interest in purchasing at St. Regis Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Lalezarian Properties Releases Renderings for New Towers at Miami Worldcenter
The entire vision for Miami World Towers, a massive mixed-use project slated to drastically transform Block E within the 27-acre Miami Worldcenter complex in downtown Miami, has been revealed in new renderings and site plans. This project, which consists of four buildings and is expected to further transform the Miami skyline, was created by Nichols Architects with Kimley-Horn serving as the landscape architect. Miami World buildings LLC, an associate of Lalezarian Properties, is the project’s developer.
The recently released designs and images feature a 25-story North Tower, a 68-story South Tower, a 68-story West Tower, and a 557-unit East Tower, The East tower is presently under construction. It is anticipated that these new towers will add about 2,137,110 square feet of space, including 2,040 residential units, amenities, and 810 extra parking places. The four towers will produce 2,600 residential units and 3 million square feet of space. On September 20th, Miami’s Urban Development Review Board is scheduled to examine the proposal.
According to the renderings by Nichols Architects, the four-tower complex will be extremely dense and take up nearly the entire block. The facades will vary and include Miami’s first examples of many architectural styles. Tower 3, despite being significantly taller, follows the same design aesthetic as Tower 1. It has floor-to-ceiling glass windows, elegant silver aluminum frames, and glass balcony handrails that enhance the façade while subtly highlighting the superstructure’s distinctive wave-like concrete balcony slabs. This beautiful mix highlights the tower’s characteristic exterior curves, giving the impression that the edifice is moving.
On the other hand, Tower 2 introduces a series of white diagrid aluminum-clad columns for both its 25-story and 68-story tower facades, featuring diamond-shaped patterns between the columns, various chamfering edges, sections of staggered slabs, and glass curtain walls. This design is reminiscent of the Foster + Partners-designed, 46-story Hearst Tower in New York City, as well as an office tower Hines has planned for their Miami Worldcenter site.
The Miami World Towers’ units will come in a range of floor plans, with sizes from 380 to 1,286 square feet and comprising studios, one-bedroom, one-bedroom with a den, two-bedroom, and three-bedroom designs. The majority of amenities will be located on the 14th floor, while rooftop pools can be found on levels 65 and 66 of the two larger towers.
Miami World Towers, which strategically places more than 2,000 residential apartments close to a number of Metromover and Metrorail stations, adds to the city’s urban appeal by providing inhabitants with easy access to Miami’s enormous public transit system. The property includes 2,994 square feet of commercial space on the ground floor, which adds to its attraction by enhancing the streetscape and promoting a lively pedestrian environment.
Additionally, the proposal places a high priority on pedestrian connectivity by constructing a publicly accessible promenade that effortlessly directs people from NE 8th Street to the opulent lobby of Tower 2. The Miami Worldcenter Promenade is accessible to locals and guests via this lobby connection that extends to a pedestrian paseo. This ground-breaking promenade, created especially for pedestrians, connects Biscayne Boulevard and the larger Miami Worldcenter Area in a busy east-west corridor, further enhancing the project’s role in encouraging vibrant urban interactions.
New Restaurants to Open at Miami Worldcenter in 2024
The long list of tenants at Miami Worldcenter, a $6 billion, 27-acre mixed-use complex remaking the center of Downtown Miami, will grow by four national food and beverage concepts.
A dual-concept location for BurgerFi and Anthony’s Coal Fired Pizza & Wings has been signed by the development’s ownership group, as well as leases with Serafina, an internationally renowned Italian restaurant group founded in New York City; Sixty Vines, a sustainable restaurant with an exciting wine-on-tap program and food inspired by vineyards.
The development’s exceptional lineup of recently opened food and beverage outlets, which already includes three concepts from Michelin-starred Chef Michael Beltran of Ariete Hospitality Group’s Brasserie Laurel, Chug’s Express, and El Vecino Cigar & Cocktail Bar, as well as two more eateries anticipated to open soon, Earls Kitchen & Bar and Chicago’s Maple & Ash, will be strengthened by the development’s newest restaurants, which are anticipated to open in 2024.
The 300,000 square feet of retail, dining, and entertainment space at Miami Worldcenter, one of the largest privately owned and developed urban real estate developments in Florida, complement the diverse mix of residential, commercial, and hospitality uses that it offers. Approximately 84% of the retail space in the property is leased. In collaboration with CIM Group, Miami Worldcenter is being built by master developers Miami Worldcenter Associates, headed by Managing Partners Art Falcone and Nitin Motwani.
Ten city blocks make up Miami Worldcenter, which is next to Museum Park, home to the Frost Museum of Science and Pérez Art Museum Miami, Adrienne Arsht Center for the Performing Arts, and Wolfson Campus of Miami Dade College. Miami Worldcenter is the largest and best-connected transit-oriented development in Florida thanks to its proximity to Brightline’s MiamiCentral station, which provides direct train service to Fort Lauderdale, West Palm Beach, and Orlando and access to Tri-Rail, the Metromover, and the Metrorail.
Demolition Permit Filed for Mohawk at Wynwood
Mohawk at Wynwood’s developers file for demolition permit along with updated plans in an effort to quickly begin site preparation for the mixed-use project
The plans for Mohawk now include 35 more units totaling 260 residential units, 20 of which will be two-story lofts. There will also be 335 parking spaces, 1,500 square feet of retail space, and 31,000 square feet of private offices as additional additions. Electric vehicles will receive a 25% allocation.
Mohawk’s design brings the edginess of local artist’s murals and modern steel framing to create a master piece that targets young entrepreneurs.
Building Features:
12-story building
225 residences
3,500 square feet of office space (for residents only)
22,000 square feet of retail space
Designed by Deforma Studios
1, 2, and 3 bedroom unit options
Building Amenities:
Rooftop pool
Bar
Lounge
Chef’s dining room
Children’s room
Game room
2-story gym
Yoga room
Dog park
Outdoor greenway
The development will be sited on a 1.5-acre build site with rooftop pool, fitness facility, dog park, indoor yoga studios, and other amenities are available to residents. Additionally, The Rider at Wynwood, a 131-key hotel/apartment intended for short-term rentals, will be close by.
Both projects were created by Rilea Group. Jaxi Builders is in charge of demolishing Mohawk in Wynwood, and DeForma Studio is in charge of the design. The exterior of Mohawk at Wynwood will emulate metal-accented Chicago brick facades. Mohawk in Wynwood is located at 50 N.E. 29th Street, Miami, Florida 33137.
St. Regis Residences Miami Construction Update
Construction is progressing at St. Regis Residences Miami with the newest construction permit submission.
The application was submitted on August 9 but without the full plans, the permit review will not begin. The permit has not yet been assigned to a contractor. The owner is identified as 1809 Brickell Property Owner, LLC, and the contact information is a Related group email. According to the permit, the hard construction cost will be $201,740,547.
By a 4-0 vote in June, the UDRB recommended approval of the project, subject to the developer’s agreement to “study the balconies at the lower levels in an attempt to widen areas that cannot currently be fully furnished.”
After around four months of evaluation, the Federal Aviation Administration authorized the tower’s permanent height at 630 feet above the ground, or 639 feet above sea level, on July 14.
For the location, total demolition permission was requested in June and is currently being handled.
St. Regis Residences Miami is planned to rise 52 stories or 639 feet and will include 391 parking spaces as well as 152 residential units.
Robert A.M. Stern Architects is creating the project with a nautical concept. CFE is the architect of the records.
The Residences
Private elevator and entry foyer to each residence
Double-door entry in select residences
11-foot ceilings with integrated linear diffusers in living areas
Custom European marble flooring throughout
European solid wood doorways
All homes feature a powder room and laundry room
Integrated smart home technology
Kitchens
Gourmet kitchen with custom Italian cabinetry designed by Rockwell Group
Marble countertops and backsplashes
Fully integrated Sub-Zero and Wolf appliance packages, including:
Paneled refrigerator
Paneled freezer
Full-height wine refrigerator
Convection oven
Steam oven
Microwave
Dornbracht fixtures
Primary Suites and Bathrooms
Oversized walk-in closets
Midnight Bar and Butler’s Pantry
Split marble top vanities with Dornbracht fixtures
Oversized marble showers and free-standing bathtubs
Private water closets with Toto toilets
St Regis Residences Miami Amenities
40,000 square feet of amenity space
On-premises ground floor, fine dining restaurant
Exclusive beach club access
Park-like grounds and lush terraces
State-of-the-art media room
Business center with coffee bar and conference rooms
Children’s entertainment room
Teen video game lounge
Programmable golf simulator
Salon equipped for all beauty services
Pet spa, grooming, and dog walking services
Private, secure climate-controlled storage
Private marina
Fully equipped fitness center
Relaxation and juice bar
Indoor lap pool and cold plunge pool
Pilates and yoga studio
Salt spa room
Dual saunas and steam rooms
State-of-the-art treatment room
Bayfront infinity pool and whirlpool with private cabanas
Poolside bar and cafe
Bayfront garden with seating area
St. Regis Butler service and in-room dining
St. Regis housekeeping services
St. Regis global membership privileges
31st Floor Sky Lounge
Double-height bar and lounge with water views
Signature St. Regis Cognac Room
Traditional St. Regis Tea Room
Billiards room
Catering Kitchen
Technologies
Keyless residential entry
Smart home climate and lighting control systems
State-of-the-art fiber optic WI-FI service throughout residences and amenities
Easy to use St. Regis residents-only app
If you or someone you know have an interest in purchasing at the St. Regis Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
David Guetta Buys Indian Creek Waterfront Mansion for $69 Million
David Guetta, a well-known DJ and producer, is under contract to purchase a beachfront spec mansion in Indian Creek that was recently listed for $69 million.
Guetta, who owns a condo at the Setai Miami Beach, reportedly sold his record collection to Warner Music for roughly $100 million two years ago. At the time, he had sold 50 million records and had more than 14 billion streams of music.
The celebrated French DJ is buying the almost 16,000 square foot, 12-bedroom estate at 37 Indian Creek Island Drive. The 1.2-acre property has 118 feet of water frontage. The property is being sold to Guetta by developer Todd Michael Glaser and his associates.
The Indian Creek property was sold to Glaser, Jim Randall, Scott Robins, and Jonathan Fryd two years ago for $23.8 million by longtime “Sábado Gigante” host Don Francisco. They started work on the spec mansion after demolishing the old residence.
Ivanka Trump and Jared Kushner’s property, which they acquired for $24 million in 2021, is right next door to the residence.
Indian Creek, a gated community, is located north of Miami Beach. Additionally, multibillionaire hedge fund manager Eddie Lampert, musician Julio Iglesias, Hotels.com co-founder Bob Diener, and auto industry titan Norman Braman own homes at this exclusive neighborhood.
In an off-market transaction that established a record for Indian Creek in June, hotelier Tulia Soucy de Gonzalez Gorrondona sold her beachfront mansion at 11 Indian Creek Island Road for $68 million. For his neighboring mansion at 26 Indian Creek Island Road, seven-time Super Bowl champion Tom Brady obtained a $35 million construction loan in that month.
Indian Creek Residences & Yacht Club Secure Financing for Construction
Indian Creek Residences & Yacht Club, a boutique residential development that will have condominium units and a private marina, is being built on Miami’s Bay Harbor Islands by the New York and South Florida-based Landau Properties. Financing has now been secured for the property with official sales projected to start in Fall 2023.
Indian Creek Residences & Yacht Club’s $29 million construction credit was originated by Miami-based private real estate lender BridgeInvest. Its flagship fund, BridgeInvest Specialty Credit Fund IV, focuses on development, bridge, and value-add financing across the United States. BridgeInvest provided the construction funding, which was organized by Raffi Landau of Estreich and Company.
According to the CEO of Landau Properties, Jonathan Landau, “We are pleased to have the confidence of BridgeInvest on this very special project that will offer an unparalleled opportunity on the Bay Harbor Islands. We received strong lender interest for this project, and this financing package affirms our team’s ability to create an incredible residential experience with a combination of an amazing waterfront location, service-oriented lifestyle, and world-class design. BridgeInvest, a highly regarded lending institution in South Florida, proved to be the perfect partner given their established local presence and robust construction abilities…”
Nine opulent condominium residences and six exclusive yacht docks will be part of Indian Creek Residences & Yacht Club. One of the only private yacht clubs in the region is housed in the boutique structure, and guests may enjoy a sought-after view of the prized Indian Creek Island. Kobi Karp is designing the waterfront complex, and Linda Zarifi of Zarifi Design is handling the interiors.
Construction Continues on 7918 West Drive In Miami’s North Bay Village
Construction is underway at 7918 West Drive, a 21-story, 54-residence waterfront condominium development in Miami’s North Bay Village.
The foundation through the third level is now complete, and significant progress has been made on the parking garage. The columns and shear walls as well as the sixth level have also had concrete poured. The parking garage’s south section’s foundation is also finished.
Where east and west converge at 7918 West Drive, there are a number of striking units with Aerial views that display the unique architectural and natural features that characterize each floor plan. The idea stands out from the competition because of its unique fusion of a contemporary, high-tech lifestyle with Japanese culture. The development will provide a Zen Garden, a yoga room, and water features to create an indoor-outdoor atmosphere.
Modern SieMatic cabinetry, Cosentino worktops and surfaces, and high-end Miele equipment can be found in the kitchens. Additionally, Hansgrohe and Kohler plumbing fittings will be included in the homes. Additionally, the cutting-edge technology at 7918 West Drive will incorporate automated software customization for the utmost convenience, security, and privacy.
Priced from $2 million to over $17 million, homes range in size from 1,677 to 7,086 total square feet, including a minimum of two bedrooms, and have at least two views of Biscayne Bay. There are only four units per floor, all of the houses are corner units, and each balcony has an irregularly shaped ceiling that offers places that are both partially sheltered and partially sunny.
7918 West Drive will have 16,224 square feet of common areas, 148 parking spaces, and a 33,600 square foot property on the Intracoastal Waterway.
The project architect is Juan Azulay, founder, and director of MTTR mgmt, and the general contractor is listed as Thornton Residential. A multidisciplinary architectural design business with its headquarters in Tokyo, ONE DESIGNS Co. Ltd., created the lobby of the skyscraper. The company includes architectural designers and top-tier certified architects that provide knowledge of Japanese construction and interior design for people looking for a home that simply redefines attention to detail.
7918 West Drive is distinctively designed and equipped with cutting-edge technology throughout. Due to its outstanding design and painstaking attention to detail, the development has made significant progress since its groundbreaking ceremony in February 2023, confirming its place as a benchmark of architectural excellence in South Florida.
River District 14 Development Now Accepting Reservations
River District 14 development has officially launched and is now accepting reservations. With its 283 exquisitely designed studios, one-bedroom, two-bedroom, and walk-up condominium homes, River District 14 gives owners a real turnkey experience.
Featuring more than 20,000 square feet of amenities, River District 14 provides residents with a resort-style pool with cabanas, two indoor pickleball courts, a relaxation area, a cutting-edge fitness facility, a fully furnished co-working floor, and much more. There will be furniture kits available for all homes, making them all move-in ready.
The Miami International Airport, the Port of Miami, and the Brightline Train Station are all nearby important transit hubs. The tower is minutes from the UHealth Towers and Hospitals, one of the most renowned and significant public health districts in the country, and is a short stroll from the excellent dining, shopping, and entertainment options at River Landing.
Owners will have the option to rent out their homes on a daily, weekly, or long-term basis. They can do so independently or through a third-party service like VRBO, Airbnb, etc. Nothing else like it is available. lone long-term rental communities are available in the neighborhood, and the lone hotel in the area has ordinary hotel rooms without kitchens for $250 or more per night and $350 or more per night at other hotels. Early 2024 is the anticipated start date, followed by a mid-2025 completion date.
