$40 Million Construction Loan Secured for Bentley Residences
A $40 million construction loan was secured by Dezer Development’s proposed Bentley Residences condominium development in Sunny Isles Beach.
Records show that City National Bank of Florida provided the mortgage. The financing is for pre-development expenses related to the planned 216-unit luxury tower at 18401 Collins Avenue.
The Sunny Isles Beach-based development company, run by Gil Dezer, just unveiled a $10 million sales center with a scale model of a 6,000-square-foot condo at Bentley Residences. For apartments facing the Intracoastal Waterway, prices vary from $5 million to almost $6 million. Units with a view of the ocean start at $7.2 million. The penthouses will cost between $57 million and $75 million.
Bentley Motors and Dezer collaborated to create their first residential building ever constructed. According to a press release, the 61-story Bentley Residences will have a “Dezervator” auto elevator in the middle of the structure. Each luxury unit will include a three or four-car garage with electric vehicle charging outlets.
According to records, a Dezer affiliate paid $6.8 million in 1996 for the 3.6-acre property, which includes a five-story hotel bearing the Wyndham name. The 180-key building’s demolition is anticipated to begin in the first quarter of 2019, with a 2026 completion date for the project as the goal.
Dezer is transforming the North Miami Beach Intracoastal Mall into the $1.5 billion mixed-use Uptown Harbour project. The expansive development, which spans over 30 acres and includes 2,000 residential units, 575,000 square feet of retail and office space, 250 hotel rooms, a port, and a central park, was given initial approval by the North Miami Beach City Commission in 2020.
Bentley Residences will be Dezer’s second opulent residence with a modern vehicle lift. The first was the Porsche Design Tower, a 2016 completion of a 60-story luxury brand high-rise in Sunny Isles Beach.
We are One Week Away from Miami Art Week and Art Basel and Here is What You Need to Know
From November 29 to December 4, 2022, Miami becomes the epicenter of the art world, featuring more than 20 international art fairs, 1,200 galleries, hundreds of artists, and tens of thousands of art enthusiasts.
Art Basel Miami Beach at the Miami Beach Convention Center is the focal point of this yearly explosion of the arts. The ultimate international art market, Art Basel Miami Beach, offers art enthusiasts a vast selection of works, from installations by promising up-and-comers to masterpieces from the 20th century.
Here are some ideas for how to view as much of Miami Art Week 2022’s greatest exhibits as possible, despite the fact that it’s impossible to see everything.
Tuesday, November 29th
Start Art Week in Miami’s Design District, where artwork is pervasive. A large portion of it will come from Germane Barnes, a Miami-based architect, who was given the 2022 Miami Design District Annual Neighborhood Commission award. This will allow the installation of the architect’s idea, Rock | Roll, in the neighborhood’s public areas.
As part of Prizm 2022 Contemporary African Art Fair’s 10th Anniversary celebration, galleries and artists will be examining how the development of fine art practice around the world has been impacted by popular modes of artmaking that originated in global African contexts. The exhibition is at 4220 N. Miami Ave. from November 29 to December 11 from 10:00 AM to 6:00 PM.
Wednesday, November 30th
The most significant pieces of art from the 20th and 21st centuries will continue to be displayed at Art Miami, Miami’s oldest international and contemporary art fair, which is offered by a number of the most reputable galleries in the world. The 10th edition of its sibling fair, CONTEXT Art Miami, will give mid-career, developing, and cutting-edge artists from new and established galleries the ideal platform.
Over 215 galleries from 17 different countries will be represented by the combination of Art Miami and CONTEXT Art Miami at the One Miami Herald Plaza on Biscayne Bay from 11:00 AM to 7:00 PM.
Thursday, December 1
VIPs are permitted to tour Art Basel Miami Beach two days before the general public gets a first look on Thursday. In 2022, the fairest of fairs will mark 20 years since it first opened. Tickets to view the finery brought in by hundreds of top contemporary art galleries from across the world may be purchased here.
Be sure to pay attention to the Buffalo, New York-based Native American-owned K Art gallery’s booth, which features the work of three Indigenous contemporary artists, including the renowned Hock E Aye Vi Edgar Heap of Birds (Arapaho/Cheyenne) and the well-regarded up-and-coming Erin Ggaadimits Ivalu Gingrich (Inupiaq/Koyukon Athabaskan) and Robyn Tsin
El Espacio 23 in the Allapattah district features more works of Cuban art and culture. Over 100 artists from Cuba and the Cuban diaspora are represented in a new exhibition that draws on the collection of Jorge M. Pérez, a Cuban refugee himself.
Friday, December 2nd
Begin the day by visiting NADA (New Art Dealers Alliance) Miami 2022, which will feature 146 galleries, exhibition spaces, and nonprofit organizations from more than 40 locations around the world. The Ice Palace Studios’ doors open at 11:00 AM (1400 North Miami Ave.)
The Wynwood district, renowned for its many murals of street art, is one mile from the NADA fair. On December 2 and 3, Prime Video will host a massive immersive art activation based on the original series “Riches” at Soho Studios (2136 NW 1st Ave.; entrance on NW 22nd St.) in the heart of Wynwood. Through photography, sculpture, painting, music, video, and performance art, the exhibition showcases components from the show that best represent the freedom of expression and sense of identity in the Black diasporic experience.
Saturday, December 3rd
Didier William: Nou Kite Tout Sa Dèyè, the artist who grew up in North Miami, will present his first significant solo museum exhibition at the Museum of Contemporary Art North Miami. In this exhibition, William presents his first colossal sculpture in addition to more than 40 paintings and prints that all focus on the precariousness of black life in America, the desperate yearning for black joy, and the affirmation of black gay humanity.
By transforming ordinary objects into extravagant ones, Ral de Nieves’ vibrant, three-dimensional beaded sculptures honor his Mexican heritage as well as drag and dance culture. His artwork is on exhibit at the mile-away Nina Johnson Gallery (6315 NW 2nd Ave). Admission is free from 11:00 AM to 5:00 PM.
Sunday, December 4th
At SCOPE Miami Beach, which is situated on South Beach’s renowned Ocean Drive between 8th and 10th Avenues, keep going till the finish line (801 Ocean Drive, Miami Beach). With Charly Palmer’s “Infinite Black” series on display will be Black-owned Knowhere Art Gallery from Martha’s Vineyard, MA, one of more than 150 varied contemporary exhibitors. Palmer depicts contemporary events and African origin in each of her paintings.
For all event schedules and locations, click here.
501 First Residences Receives Construction Loan
Construction is moving forward at 501 First Residences with a new benchmark after developers receive a construction loan for $80.9 million.
This new 40-story tower with 448, will be developed by Aria Development Group and designed by Revuelta Architecture International, who also designed Wind and 900 Biscayne. 501 First Residences will be located at 501 Northeast 1st Avenue with views of downtown Miami and Biscayne Bay.
According to the Aria Development group, this particular development will be built to cater to the short-term rental market. The biggest perk is that there will be no rental restrictions. This means the resident can utilize any consumer platform (Vrbo, Expedia, Airbnb, etc.) to rent and each unit can be rented for 1 day or more.
The renderings reveal floor-to-ceiling windows and expansive balconies. The sleek structure is curved creating a horizontal and vertical grid-like design. The exact height of the development hasn’t been released but we can expect the 40-story high structure to be over 450 feet in height.
The loan of $80.924 million was arranged by Berkadia with the funding issued by Bank OZK with a floating 42-month interest-only loan.
On the property, demolition has already finished.
Although 501 First Residences is sold out, if you or someone you know has an interest in purchasing downtown Miami, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
First Look at Resident’s Only Members Club at Five Park
The newest luxury residential tower building in Miami Beach, Five Park by Terra and GFO Investment, has revealed plans for the first residents-only, fully-serviced social club inside a luxury apartment. A social amenity package centered on cultural activities, fitness, and fine dining is offered by The Canopy Club.
A specialized club-level concierge and extensive programming are characteristics of The Canopy Club. The Club enables residents to live, work, play, and entertain their guests in a range of venues suited to every mood, including white glove service, wellness, dynamic recreational areas, and the finest dining.
The Canopy Club’s Specialty Dining and Beverage Program, a seasonal dining experience designed by famous chefs and situated in the opulent jewel box bar and dining room, will be available to members only. The Club also features private training rooms, state-of-the-art wellness facilities, a branded spa, a personal trainer on staff, and breathtaking bay and ocean views.
Five Park introduces 50,000 square feet of indoor amenities and a three-acre park outside, creating a new standard for the Miami Beach lifestyle under the direction of a recognized team of visionaries. The 40,000 square feet of social spaces that make up the 26th-floor Canopy Club include a private dining room, a jewel box bar and lounge, living rooms, a library, a den, outdoor terraces, wellness, and workout sections.
Additionally, just a few blocks away at the Five Park private beach club, locals have access to their own section of the beach. The outdoor club, which is on South of Fifth, introduces a branded, exclusive area with lounge chairs, umbrellas, and food and beverage service.
According to the CEO of Terra Development, “Five Park’s Canopy Club represents a new standard of luxury and exclusivity in Miami Beach. We developed a selection of amenities that enhance quality of life, wellness, culture and connectivity. Five Park residents will make their homes within a building that embodies a complete living, breathing ecosystem, offering dynamic spaces and creative programming to their doorsteps.”
New York Based Seafood Restaurant to Open in Miami Beach
Miami Beach will welcome the seafood restaurant Catch in 2023 thanks to the New York-based Catch Hospitality Group.
At 200 South Pointe Drive, the restaurant will take up 22,000 square feet. New York, Los Angeles, Las Vegas, and Aspen, Colorado are the current sites of Catch.
The restaurant space at the Continuum is owned by Los Angeles-based Black Lion, and Catch Hospitality, led by partners Tilman J. Fertitta, Mark Birnbaum, and Eugene Remm, negotiated a 15-year lease with Black Lion. The deal’s landlord and renter were both represented by Jeremy Hakala of Newmark’s Miami office.
According to Fertitta, “On the heels of two successful openings on the west coast, we are ready to continue our expansion. Miami Beach has experienced tremendous growth over the last few years, and the city’s evolving dining scene makes it the perfect time to bring our iconic brand to one of the greatest destinations in the world.”
Both indoor dining and a patio with a retractable roof will have an equal number of seats available. The Rockwell Group, based in New York, will create the design.
Steak, sushi, and seafood will all be offered on the menu. Private and semi-private events will be possible to be held at the restaurant.
Other well-known eateries like Prime 112, Carbone, Joe’s Stone Crab, and Milos will be close to Catch.
Black Lion acquired space for a restaurant in September in Miami’s Zaha Hadid-designed condominium One Thousand Museum. For the owner of the commercial property, it was his tenth purchase in South Florida.
Immersive Global Summit is Coming to Miami from December 5th through the 7th
The world’s global IT community will come together to support immersive technologies at the Immerse Global Summit (IGS), which is scheduled to begin next month at the Fontainebleau Hotel in Miami Beach from December 5 to 7.
With a number of keynote speakers, seminars, product demos, and other activities, the event will highlight the future of virtual, augmented, and mixed reality, blockchain, the internet of things (IoT), and the Metaverse.
To address how metaverse technologies are altering businesses and their operations, companies including Amazon, AT&T, Meta Platforms, Magic Leap, Qualcomm, Sony Interactive Entertainment, Unity Technologies, Lenovo, General Motors (GM), and others will take the XR stage.
Along with burgeoning small and medium enterprises (SMEs) like AMPD, Aequilibrium, Rooom, Immersal, Leai Inc, Emteq Labs, Departure Lounge, and a growing roster at the renowned Summit, additional guests at the A-list event will include Boeing, Agora, and the University of Miami.
The announcement comes as interest in the Metaverse, the upcoming communications platform fusing the Internet and spatial computing, is surging. Businesses are investigating use cases across all industries, including entertainment, smart manufacturing, advertising, and remote guidance, among others.
Miami, a developing tech hub in the US, has witnessed a significant increase in its rankings in the Dice Tech Job Report for the growth of tech jobs in the first half of 2022.
The Immerse Global Summit (IGS) was “thrilled” that AT&T would give the keynote address at the gathering, according to Nathan Pettyjohn, the founder, and president of the VR/AR Association (VRARA) and the IGS’s host.
Business leaders from various industries should attend the event, said Kris Kolo, Global Executive Director of VRARA, to “understand how immersive technologies are impacting their business.”
The announcement was released after the IGS’s European Summit, which was held in late September at the Savoy Palace on Madeira Island in Portugal, came to a close. At Europe’s emerging tech hub, more than 500 delegates discussed the future of the XR market as several organizations, businesses, and thought leaders expressed their perspectives.
Please visit the VR/RA and Immerse Global Summit websites to get tickets and learn more.
Miami-Dade County and Miami Heat Cuts Naming Rights Ties with Cryptocurrency Exchange FTX for Miami Arena
Miami-Dade County and the NBA’s Miami Heat have ended their partnership with the insolvent cryptocurrency exchange FTX and are now looking for a new naming rights partner for their downtown Miami arena.
The statement followed the FTX group’s CEO resignation and bankruptcy filing in the US earlier on Friday, which marked the shocking demise of one of the biggest and most influential figures in the cryptocurrency business.
Miami-Dade County and Miami Heat stated in a joint statement on Friday night that they will cooperate to find a new naming rights partner for the stadium, which was only rebranded as FTX Arena last year, and that they find the reports concerning FTX to be “very upsetting.”
Like other cryptocurrency businesses, FTX has spent a lot of money sponsoring athletes. For the renaming of the Miami arena in June 2021, FTX reportedly signed a $135 million, 19-year contract. This deal would have also included $2 million annually to the Miami Heat.
A five-year agreement was also reached in 2021 for Major League Baseball to designate FTX as its official cryptocurrency exchange. FTX is also the Mercedes-AMG Petronas Formula One Team’s authorized
With the University of California, Berkeley negotiating a $17.5 million, 10-year naming rights arrangement for the school’s football stadium in 2021, even college sports have connections to FTX.
Joe Jonas and Sophie Turner Lists Bay Point Miami Mansion for $17 Million
The Miami mansion of pop sensation Joe Jonas and his spouse, actress Sophie Turner, is on the market for $16.995 million.
According to the listing, the waterfront home in the exclusive gated neighborhood of Bay Point is on 0.5 acres.
The gorgeous waterfront property features 94 feet of frontage on Biscayne Bay. The nearly 10,500-square-foot home was constructed in 1980 and has six bedrooms. The home boasts wooden beam ceilings, coral-rock walls, and meandering glass staircases. To give the area a tropical flavor, the indoor water features, moats, and koi ponds were converted into vertical gardens during the renovation.
The formal living area boasts windows on all sides and 30-foot ceilings. It has an antique Murano Venetian glass chandelier and a two-sided travertine fireplace. The dining area features hand-painted de Gournay wallpaper and another Murano glass chandelier.
The home contains a wine room, a sauna, a gym, and a pool room with a two-story library space above it.
The home was purchased by the couple in 2021 for $11 million, according to public documents. Sarah Ivory was interior designed for the home with their renovation being completed in August of 2022.
Ivory stated that the exterior of the house had been freshly painted, the landscaping had been updated, and lighting had been installed on the trees. Two swimming pools—one for adults and one for kids—are located in the backyard. The property also has a hot tub, an outdoor kitchen area, and a dock.
Among the famous people who have moved to Bay Point are pop artist Enrique Iglesias and his partner, former tennis champion Anna Kournikova.
3 Tower Development Proposed at 3333 Biscayne Boulevard
According to a filing with the city planners, plans for a 3-tower mixed-use complex at 3333 Biscayne Boulevard in Edgewater have been made public.
The three towers themselves will be labeled as East, West, and North towers. The East tower is proposed to be a residential tower that will rise 41 stories tall with the North tower, also residential rising 40 stories tall. The West tower will be mainly a commercial tower with available office rental space rising 12 stories.
The development will also include 635 residential units spreading over the East and North towers which will also include 9 townhomes. There will also be 1,210 parking spaces throughout the 8-level garage. The office space will include 156,989 square feet and 19,180 square feet will be dedicated to the ground floor commercial spaces.
In a statement from the Developer, the three towers and a podium were developed by the project architect without overcrowding the space. An office tower on Biscayne Boulevard has a staggered design to wisely avoid reaching its full authorized height. To optimize separation and prevent crowding, the two residential buildings are set apart from one another at a diagonal angle. Nine ground-floor townhome units and a courtyard are positioned along the north and east facades of the project’s podium level, where they are intended to keep public spaces active.
The Applicant is happy to have generated an amazing design without the requirement for Waivers, Warrants, or Exceptions due to the Property’s enormous acreage and a private agreement among the owners of the united parcels to divide development rights among their sites.
A covenant in lieu of unity of title is being used in the proposal to use development rights from nearby properties that Aimco owns.
The architect is credited as Stantec. The developer had previously been identified as Beitel Group.
On November 16, there will be a hearing before the Urban Development Review Board.
