Nexo Residences Breaks Ground in North Miami Beach
In the heart of North Miami Beach, Fortune International Group, in partnership with Blue Road, has embarked on a groundbreaking venture: the Nexo Residences. This 15-story luxury condominium project, located at 13899 Biscayne Boulevard, is poised to redefine urban living with its innovative home-sharing capabilities.
The architectural brilliance of Frankel Benayoun Architects Inc., combined with insights from the globally acclaimed architect Carlos Ott, has shaped the design of Nexo Residences. Furthermore, the interiors, common areas, and landscaping have been meticulously crafted by Urban Robot. The development boasts 254 fully furnished residences, allowing homeowners unparalleled autonomy in their property’s utilization. These residences range from cozy studios to expansive four-bedroom townhomes, with sizes varying from 531 to 2,190 interior square feet. With prices commencing from the mid $600s, this project offers a diverse portfolio for potential investors.
Edgardo Defortuna, the CEO of Fortune International Group, expressed his enthusiasm, stating, “Nexo Residences has garnered significant attention from global buyers and investors. Its strategic location, coupled with top-tier amenities and the unique opportunity for homeowners to lease their units, aligns perfectly with Fortune’s vision of pioneering projects that consistently exceed expectations through innovation and meticulous attention to detail.”
The name “Nexo,” translating to “nexus” in Spanish, encapsulates the essence of this project. It serves as a pivotal junction, bridging crucial elements and making it an attractive proposition for short-term renters in this burgeoning submarket. The rental flexibility, complemented by a professional management team overseeing operations, enhances its appeal for potential investors.
Jorge Savloff, CEO of Blue Road, highlighted the strategic advantage of the location, emphasizing its proximity to iconic South Florida attractions like the Bal Harbour Shops, Aventura Mall, and a plethora of upscale dining and entertainment venues. He added, “Nexo Residences offers a more family-centric alternative to the bustling tourist hubs of Miami, ensuring a comprehensive and enriching experience for all.”
The amenities at Nexo Residences resonate with the South Florida vacation spirit, catering to both work and leisure. Features include a grand three-story arrival lobby, a state-of-the-art tech hub with coworking spaces, a lavish pool deck, fitness facilities, and a rooftop observatory deck offering panoramic southern vistas. Additionally, entertainment options abound with an outdoor cinema, a versatile clubroom, and a dedicated children’s play area.
An added allure for international investors is the property’s EB-5 designation. This provides a golden opportunity for foreign nationals to embark on the path to U.S. citizenship by investing a minimum of $800,000 in Nexo Residences and adhering to the stipulations set by the United States Citizenship and Immigration Services (USCIS).
Strategically positioned, Nexo Residences offers proximity to business and leisure hubs like Bal Harbour, Aventura, and Sunny Isles. Its location on Biscayne Boulevard, near the Intracoastal Waterway, and equidistant from major airports, further accentuates its appeal for global investors.
Nexo Residences presents a compelling investment narrative blending luxury, flexibility, and strategic location into a package that promises significant returns.
SB Developments Releases Renderings for 55 Story Edgewater Project
In the heart of Miami’s Edgewater neighborhood, a new architectural masterpiece is set to redefine the city’s skyline. Located at 419 Northeast 19th Street, this 55-story tower is a testament to modern design and strategic investment.
The project, occupying a 14,190-square-foot triangular plot near the iconic Margaret Pace Park and Biscayne Bay, is a collaboration between the renowned New York-based architectural firm, Fogarty Finger, and a joint venture of SB Development and Hazelton Capital Group. With a towering height of 641 feet, this development will not only be a significant addition to Miami’s skyline but also a beacon of luxury living.
The tower will house 463 upscale residential units within its 553,673 square feet of space. Residents will have access to a number of luxury amenities spanning three levels, including a rooftop pool, sky lounge, state-of-the-art fitness center, and a game room. Additionally, the building will feature an indoor parking facility with a capacity for 172 vehicles.
The design of the tower is a testament to Fogarty Finger’s expertise in crafting architectural wonders. Known for their iconic designs in New York, such as The Dime and 141 Willoughby in Brooklyn, their entry into the Miami market is marked by a structure that captures the essence of its surroundings. The tower’s design, characterized by its slender and curved profile, boasts curved corners, striking horizontal lines, and a pristine white stucco finish. The wraparound balconies with glass handrails and floor-to-ceiling glazing ensure that residents enjoy panoramic views of the city.
A unique feature of this tower is its base and crown, which share a cohesive design language. The facade is adorned with sections of long, narrow horizontal openings screened with aluminum. The crown, however, stands out with its elegantly curved motif that extends from the rooftop slab, adding a touch of sophistication.
The residential units within the tower cater to a diverse clientele, ranging from studio units of 403 square feet to expansive 4-bedroom units spanning 2,322 square feet.
The current site, known as Parcel B, houses an older condo building set for demolition. The new tower will be integrated with the adjacent property, the Cite’ on the Bay Condominium, enhancing the overall value of the area.
However, the developer is seeking several waivers in connection with the project, primarily due to the unique shape of the lot and to ensure efficient vehicular traffic. These waivers include reductions in setbacks, drive aisle width, parking stall length, and the total number of required parking spaces, among others.
With its modern design, luxury amenities, and prime location, it promises to be a jewel in Miami’s real estate crown.
Aria Reserve’s Majestic Ascent: A Glimpse into Edgewater’s Pinnacle of Luxury
In the heart of Edgewater, the illustrious Aria Reserve is making waves in the architectural world. The first of its twin towers is not only soaring swiftly but is also accompanied by the promising progress of its counterpart, Aria Reserve Miami North Tower.
Touted as the zenith of waterfront residential projects, Aria Reserve boasts two magnificent 62-story towers, each stretching to a staggering 649 feet. This grandeur isn’t just for show; the developer proudly claims it to be the tallest dual-tower residential venture in the nation.
Aria Reserve South Tower, which witnessed its groundbreaking festivities in May 2022, has achieved another milestone. As per recent updates from L&R, the esteemed shell contractor, the construction has successfully reached the 16th floor.
Parallelly, the North Tower has officially broken ground during a ceremony today with the developer, architect, and Miami Mayor Suarez in attendance. A construction permit was initiated on May 26, 2023. This tower is set to house 360 luxurious condo units, as stated in the permit documentation.
For those keen on specifics, the South Tower’s permit reveals a lavish offering of 383 condo units. Additionally, residents and visitors can anticipate approximately 5,719 square feet dedicated to gourmet dining and another 4,870 square feet for upscale retail experiences. Not to forget, a commodious 9-story parking facility is also in the blueprint.
Behind this monumental project is the renowned Melo Group, wearing both the developer and contractor hats. The architectural genius steering this ship is none other than Bernardo Fort-Brescia from Arquitectonica, a name synonymous with innovative design and unparalleled elegance.
Aria Reserve isn’t just a real estate venture; it’s a testament to luxury, innovation, and architectural prowess.
Strategic Real Estate Moves by Qatar’s Royal Family in Miami’s Financial District
In a significant real estate transaction that has captured the attention of the global financial community, members of Qatar’s esteemed royal family, the Al Thanis, have divested their interests in the SLS Brickell hotel, located in the heart of Miami’s bustling financial district. The property, which stands as a testament to luxury and opulence, was acquired for a sum of $55 million by the Kastrati Group, a conglomerate with Albanian roots.
The SLS Brickell, an architectural marvel situated at 1300 South Miami Avenue, encompasses 124 rooms, translating to a valuation of approximately $444,000 per room. The transaction was facilitated by Miami’s renowned broker, Jordan Karp, who represented both the Al Thanis and the Kastrati Group. Stefano Santoro, a notable figure in the disruptive real estate sector, played a pivotal role in assisting Karp from the buyer’s side. However, the brokers have maintained discretion regarding the intricate details of the buyer’s identity.
This acquisition is particularly noteworthy as it marks the Kastrati Group’s inaugural venture into the U.S. real estate market. Under the leadership of Shefqet Kastrati, the conglomerate boasts a diverse portfolio, spanning sectors such as oil, insurance, construction, and infrastructure.
The SLS Brickell’s history is as intriguing as its architecture. In 2018, an affiliate of the Al Thanis procured the hotel for $43 million from its original developer, the Coconut Grove-based Related Group. The hotel, a 54-story mixed-use edifice, was conceived by the visionary French architect Philippe Starck in collaboration with Miami’s own Arquitectonica. Its offerings include a sprawling 58,000 square feet of event space, gourmet restaurants, upscale bars, a rooftop pool terrace, and grand ballrooms. The management of the hotel is under the aegis of Accor Hotels, a global leader in the hospitality sector.
The real estate landscape of Miami continues to evolve, with the Al Thanis recently divesting an SLS Brickell restaurant space, which was acquired by Robert Rivani’s Black Lion Investment Group for $10 million. Furthermore, the Related Group, in partnership with the Allen Morris Company, has also developed the nearby SLS Lux Brickell Hotel & Residences.
In a broader context, the Miami real estate market has witnessed several noteworthy transactions. Michigan-based hoteliers Malik Abdulnoor and Sahir Malki recently invested $21 million in the Hampton Inn Fort Lauderdale/Plantation. Additionally, the Nakash family from New York, in collaboration with Michael Palmer, acquired the Beacon South Beach Hotel in Miami Beach for $23.5 million.
For hedge fund managers and investors, these transactions underscore the vitality and potential of the Miami real estate market, offering lucrative opportunities for those with a keen eye for value and growth.
Juvia’s Strategic Pivot-a Testament to Miami’s Flourishing Landscape
In the dynamic world of investment, adaptability is paramount. Similarly, in the realm of Miami’s culinary scene, Juvia, the illustrious rooftop restaurant and bar that once held sway over Lincoln Road’s nightlife, has demonstrated this principle. After an impressive 11-year run in Miami Beach, Juvia is set to transition to the Miami Worldcenter—a staggering $6 billion, 27-acre development poised at the epicenter of downtown.
Jonas Millán, the visionary behind Juvia Group alongside his partner Alexandra, remarked on the city’s transformation, “Over the past decade, Miami has transcended its identity as merely a beach destination. Its metamorphosis into a burgeoning metropolis necessitated our evolution.” After meticulous scouting, the Miami Worldcenter emerged as the unequivocal choice for Juvia’s next chapter. Millán envisions the new establishment, slated for a late 2024 launch, to surpass its predecessor in grandeur, boasting expansive outdoor spaces and a more lavish terrace bar.
The Miami Worldcenter, located at 1010 NE Second Ave., is not just a real estate marvel but a culinary hub. It already houses three ventures from the esteemed Chef Michael Beltran’s Ariete Hospitality Group. Furthermore, 2024 will witness the inauguration of several more dining establishments, including New York’s Serafina and Dallas’s Sixty Vines, among others. Beyond gastronomy, the development is set to feature retail giants like Sephora and Lululemon, as well as avant-garde entertainment venues.
Juvia’s culinary direction remains rooted in its legacy—French cuisine infused with Latin nuances. However, with Miami’s dining scene witnessing a renaissance and the city earning Michelin accolades, Millán acknowledges the heightened benchmarks. “The culinary landscape is evolving rapidly. While some perceive market competition as daunting, I view it as a catalyst—an impetus to innovate and elevate our offerings.”
Nitin Motwani, the strategic mind behind Miami Worldcenter Associates, always envisioned Juvia as the crown jewel of the development’s rooftop. Familiar with Millán’s prowess through Bonito St. Barth, Motwani recognized Juvia’s transformative impact on Miami Beach. “Their influence was palpable. Our initial blueprints often echoed the sentiment, ‘Imagine having an establishment akin to Juvia here.’ Their relocation is serendipitous—a confluence of an expiring lease and the allure of what’s poised to become Miami’s nexus.” Motwani envisions the Worldcenter as a tapestry of diverse experiences, with Juvia serving as both a haven for celebratory occasions and a regular dining fixture.
In the high-stakes world of real estate, we understand the significance of strategic shifts and seizing emerging opportunities. Juvia’s transition is emblematic of this ethos—a testament to the vision, adaptability, and promise of Miami’s burgeoning landscape.
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.
NoMad Residences Wynwood Introduces a New Chapter in Luxury Living
In the heart of Miami’s vibrant Wynwood district, a groundbreaking collaboration between the esteemed Related Group and Manhattan’s Tricap has taken shape. Introducing the NoMad Residences Wynwood, a luxurious embodiment of the iconic boutique hotel brand, NoMad Hotels, under the aegis of the Sydell Group.
Situated at the prime location of 2700 Northwest 2nd Avenue, a stone’s throw from the globally recognized Wynwood Walls, this nine-story condominium tower is a testament to modern architectural brilliance. Crafted by the acclaimed South Florida-based Arquitectonica, with interiors by the distinguished DesignAgency, the project is overseen by Beauchamp Construction, with MEP engineering by Johnson, Avedano, Lopez, Rodriguez & Walewski Engineering Group, Inc., and landscape architecture by Naturalficial.
Nick Pérez, President of Related Group’s Condominium Division, remarked, “The NoMad Hotels brand, synonymous with a harmonious blend of art and luxury, is the perfect fit for Wynwood. Drawing parallels with NoMad New York’s transformative impact on Manhattan’s North of Madison district, we envision NoMad Residences Wynwood to be a pivotal chapter in Wynwood’s illustrious narrative.”
The residences, echoing the opulence of the NoMad brand, offer a curated experience of a cosmopolitan, art-infused lifestyle. Comprising 329 units, ranging from cozy studios to spacious two-bedroom apartments, each residence boasts floor-to-ceiling windows, private balconies, open floor plans, and spa-inspired showers. The contemporary kitchens are equipped with top-tier Bosch appliances, Italian cabinetry accentuated with brass fixtures, and polished stone countertops.
Andrew Zobler, Founder & CEO of Sydell Group, emphasized the brand’s ethos, stating, “The NoMad Hotels brand is renowned for its distinctive hotels, deeply influenced by their locales. With NoMad Residences Wynwood, our vision was not just to construct homes but to cultivate a community that resonates with Wynwood’s rich, artistic spirit.”
Residents are treated to a fully furnished living experience, with interiors curated by DesignAgency. A unique proposition of the property is its flexibility in rental options, allowing owners to lease their homes for any duration. An adept in-house property management team ensures seamless operations.
A standout feature of the property is its culinary and beverage offerings. The NoMad Bar, a rooftop restaurant and mixology hub, will be spearheaded by James Beard Award Winner Leo Robitschek. Additionally, the ground floor will house Casa Tua Cucina, setting the gold standard for upscale social dining with its expansive open-kitchen concept.
Residents and guests can indulge in a plethora of resort-style amenities, including a rooftop lounge offering panoramic views of downtown Miami, a serviced pool and sun deck, private cabanas, and state-of-the-art fitness facilities. The signature NoMad Library and Lounge will serve as a communal space, offering curated experiences, shared workspaces, and more.
Art aficionados will appreciate the museum-quality artworks from the Jorge M. Pérez Collection adorning the building, with sections dedicated to artists in homage to Wynwood. The locale boasts over 70 art galleries, luxury boutiques, MICHELIN-star restaurants, and the iconic Wynwood Walls.
David Edelstein, Principal at Tricap, encapsulated the project’s essence, stating, “Wynwood is not just a locality; it’s a dynamic nexus of culture, gastronomy, and opportunity. This venture, in partnership with Related and Sydell Group, heralds the onset of an immersive, hospitality-driven residential experience at the heart of Miami’s renowned art district.”
In a recent accolade, NoMad London, a flagship of the NoMad Hotels brand, secured a position on ‘The World’s 50 Best Hotels’ list for 2023, underscoring Sydell Group’s unwavering dedication to excellence in hospitality and design. This commitment is set to be mirrored in NoMad Residences Wynwood, bringing unparalleled craftsmanship to Miami’s bustling Wynwood district.
Pricing for NoMad Residences Wynwood starts in the $600,000’s. If you or someone you know have an interest in purchasing at NoMad Residences Wynwood, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Waldorf Astoria Residences Miami-A $50 Million Penthouse Epitomizing Luxury and Investment Potential
In the heart of Miami, an architectural masterpiece rises, setting a new benchmark for luxury living and investment opportunities. The Waldorf Astoria Residences Miami, an iconic structure unparalleled in its design, has unveiled its crown jewel: a $50 million penthouse located in its ninth cube. This penthouse doesn’t just offer a residence; it offers a statement, positioning its inhabitants atop the highest residential edifice south of the Big Apple.
This penthouse is more than just a living space; it’s a testament to opulence and strategic investment. Spanning 13,119 square feet, it boasts features that cater to the discerning tastes of hedge fund magnates: a private gym for those early morning workouts, a theatre for private screenings, a wine room showcasing the world’s finest vintages, and a library that can double as a space for strategic meetings. The 360-degree views encompassing Miami Beach, Downtown Miami, and the vast expanse of the Atlantic Ocean are bound to inspire and invigorate its residents.
The penthouse’s design is both lavish and functional, with six spacious bedrooms, nine state-of-the-art bathrooms, and expansive floor-to-ceiling windows that flood the space with natural light. The primary suite is a haven, complete with luxury walk-in closets and Italian-crafted marble-finished vanities. The flexibility to tailor spaces, be it a personal gym or a contemporary kitchen, adds a personal touch, ensuring that each resident’s unique needs are met. The renowned design firm, BAMO, has lent its expertise to the interiors, ensuring that every inch exudes sophistication.
The Waldorf Astoria Residences Miami itself is a marvel, with its nine offset glass cubes enveloped in a shimmering “glass skin.” This 1,049-foot tower will house 360 private residences, alongside 205 guestrooms and suites that form part of the luxury hotel. The hotel’s signature spaces, private amenities, and the renowned Peacock Alley of the Waldorf Astoria brand are all housed within the first three cubes. The visionary design was a collaborative effort between Sieger Suarez Architects and the illustrious architect Carlos Ott.
For those who seek exclusivity, the tower offers a plethora of amenities. From a resort-style pool deck, holistic wellness spa, and a state-of-the-art fitness center to an owners-only lobby and bar, every detail has been meticulously curated. The integration of the latest smart home technology via a dedicated mobile app ensures that residents have access to a myriad of services at their fingertips, from spa reservations to dog walking services.
Hilton Management Services, known for its commitment to unparalleled service, will manage the Waldorf Astoria Residences Miami. This ensures that both residents and visitors experience the epitome of luxury and world-class experiences.
If you or someone you know have an interest in purchasing at Waldorf Astoria Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Strategic Real Estate Moves: Boucher Brothers Clinch Nikki Beach in a Tense Miami Beach Vote
In the high-stakes world of real estate, where every decision can ripple through the financial markets, the Boucher Brothers have made a significant play. On September 27th, 2023, amidst the towering skyscrapers and the azure backdrop of Miami Beach, the City Commission convened. The agenda? The future of the coveted oceanfront property at 1 Ocean Drive, Miami Beach, Florida.
The Boucher Brothers, no strangers to the Miami Beach landscape, were vying for the Nikki Beach site. Their ambition was met with intense scrutiny and debate, echoing the boardrooms of Wall Street. The decision was not an easy one. City Manager Alina Hudak had put forth a recommendation, and after what can only be described as a nail-biting session, it was approved in a 4-3 vote.
Lending their support to the Boucher Brothers were Mayor Dan Gelber and Commissioners Ricky Arriola, David Richardson, and Kristen Rosen Gonzalez. On the other side of the aisle, Alex Fernandez, Steven Meiner, and Laura Dominguez voiced their reservations. Their concerns? Primarily procedural, with some pointing to earlier discussions around a no-bid agreement and advocating for a delay in the vote to allow for more public consultation.
For the hedge fund managers reading this, the intricacies of the deal are where things get interesting. The Boucher Brothers’ proposal is a 10-year commitment, promising the city a yearly contribution of 10% of gross operating revenue. In tangible terms, that’s a minimum of $4 million annually, with a 3% increment each year. The property itself is set to undergo a transformation, with a proposed $26 million in renovations. The vision includes a state-of-the-art pool, a wellness center and spa, a dedicated area for children, and a beach concession zone. Culinary enthusiasts will be pleased to hear of a collaboration with Major Food Group, bringing a Sadelle’s restaurant to the location.
However, the road to this decision was far from smooth. Legal challenges and intense negotiations marked every step. Earlier in the year, the City Commission had considered a non-binding term sheet with Boucher, hinting at a potential no-bid agreement. But in the face of significant criticism, they pivoted, seeking alternative proposals for the land and its adjacent beach area.
For those in the financial world, this move by the Boucher Brothers is more than just a real estate acquisition; it’s a testament to strategic planning, negotiation, and the ability to navigate complex landscapes. As the ink dries on this deal, one can’t help but wonder what ripple effects this will have on the broader investment landscape.
