The Well Bay Harbor Islands Breaks Ground at 1100 Kane Concourse

In the heart of Miami’s Bay Harbor Islands, a new luxury development is taking shape. Terra, a renowned Miami-based real estate developer, in collaboration with the globally recognized wellness brand, THE WELL, has initiated the construction of THE WELL Bay Harbor Islands at 1100 Kane Concourse. This groundbreaking event, which took place on October 9, 2023, marked the beginning of a project that has already seen half of its residences sold.

This eight-story luxury project will house 54 tailor-made residences, boasting over 22,000 square feet of unparalleled amenities. Prospective residents can anticipate a cutting-edge fitness and wellness center, a 4,000-square-foot signature dining establishment, and a class-A office building spanning 102,000 square feet. This venture stands as the nation’s premier THE WELL-branded residential and office initiative, meticulously crafted to foster a comprehensive wellness lifestyle.

Esteemed attendees at the groundbreaking ceremony included Terra’s CEO David Martin, THE WELL’s Chief Creative Officer Kane Sarhan, and key officials from Bay Harbor Islands. This event symbolizes Terra and THE WELL’s shared ambition of seamlessly blending wellness into luxury living and workspace environments. The project’s completion is projected for the second quarter of 2025.

Designed by the award-winning Meyer Davis with architectural insights from Miami’s Arquitectonica, the development emphasizes holistic wellness. THE WELL’s signature touch ensures that residents are enveloped in a rejuvenating atmosphere, harmoniously integrated into their daily lives.

David Martin, CEO of Terra, expressed his enthusiasm, stating, “THE WELL Bay Harbor Islands is poised to redefine luxury living in South Florida, revitalizing the Kane Concourse and enhancing the Bay Harbor Islands community.” Rebecca Parekh, Co-Founder and CEO of THE WELL added, “Our vision is to create a sanctuary where wellness is woven into the fabric of everyday life.”

The residences, ranging from 924 to 3,291 square feet, will offer state-of-the-art amenities, combining THE WELL’s holistic philosophies with Miami’s natural beauty. From therapeutic soaking tubs to advanced wellness technologies, every detail is meticulously curated.

The wellness and fitness center is a haven for rejuvenation, offering a plethora of experiences, from Miami’s first caldarium to a diverse range of treatments and fitness sessions. Additional facilities include rooftop decks with a pool and hot tub, private boardrooms, and serene lounges.

The office component, The Offices at THE WELL Bay Harbor Islands, will redefine workspace wellness. Tenants can customize their spaces, access community gardens, and benefit from a plethora of wellness amenities. Blanca Commercial Real Estate is leading the office leasing endeavors.

Nestled near the iconic Bal Harbour Shops, Bay Harbor Islands is a gem in Miami’s real estate landscape. Known for its upscale community, proximity to elite retailers, and breathtaking waterfront vistas, it offers a blend of luxury and tranquility. This development is set to further elevate the stature of this coveted neighborhood.

CEO of Terra Group Sells Grove at Grand Bay Penthouse for $17.9 Million

CEO of Terra Group David Martin recently sold his penthouse at Grove at Grand Bay for $17.8 million.

The 9,541-square-foot, five-bedroom apartment at 2675 South Bayshore Drive was sold under the name GBPH Investments LLC.

Records show that a trust run by James Zubok and Leon Medzhibovsky purchased the penthouse. Medzhibovsky is a partner at DLA Piper and Zubok is a private equity investor.

David Martin’s penthouse had been advertised on and off for years, with a $28 million asking price at one point while the tower was still being built. Eloy Carmenate, Mick Duchon, John Gomes, and Fredrik Eklund brought it back to the market for $25 million in 2018 then for $19.8 million in late 2019. Summer of 2022, the unit was listed at $26 million.

The penthouse unit features 12-foot ceilings, floor-to-ceiling windows all around it, a rooftop pool, and 12-foot doors. Although Martin’s purchase price for the penthouse is unknown, developers frequently receive a sizable discount on their apartments. The price per square foot of the unit was roughly $1,900.

The Bjarke Ingels-designed project, a pair of 20-story twisted towers overlooking Biscayne Bay in Coconut Grove, was constructed by Martin’s Terra. The construction was finished in 2016. Billionaire Mike Fernandez, former baseball star and real estate investor Alex Rodriguez, and Martin’s father, Pedro Martin, have all purchased properties.

Since finishing Grove at Grand Bay, he has collaborated with Jorge Pérez’s Related Group to construct the three Park Grove towers in Coconut Grove and is currently constructing the Mr. C Residences condo towers close by. On the north side of U.S. 1 and 27th Avenue, a mixed-use apartment building with retail space called His Grove Central is also being built.

Outside of Coconut Grove, Terra is involved in a number of projects. The 15.5-acre land owned by Genting Group in downtown Miami is scheduled to be purchased for more than $1.2 billion by a group led by the company and Martin. The transaction, where Martin most likely intends to build a sizable mixed-use community, is anticipated to finalize later this year.