Tampa Bay Rays Co-Owner Just Sold Miami Beach Waterfront Estate for $31.5 Million
Randy Frankel, co-owner of the Tampa Bay Rays, has sold his oceanfront Miami Beach home for $31.5 million in an off-market deal and this mansion is too stunning not to share!
Not only is this waterfront mansion absolutely gorgeous, it is now considered one of the most expensive homes to sell in Sunset Islands. The property itself rests along Biscayne Bay expanding nearly 0.45 acres located at 1635 West 22nd Street. It features 7 expansive bedrooms, 8.5 bathrooms that include 4 bedrooms in the main house, 2 guest suites and a staff room.
This contemporary and gated home is Miami living at the finest, with its ultra-modern design, grand living room with 14 foot ceilings, chef’s kitchen, formal dining, and wall to wall sliding doors leading to an elite outdoor entertaining space.
This home also offers a number of luxury amenities including, an elevator, resort-style pool, deck with summer kitchen, rooftop deck, new seawall, and a large dock.
The property was developed by Todd N. Glaser and designed by Domo Design.
The Frankels originally purchasing the home in August 2020 for $14.4 million and then sold it at a 120% markup. Property records for the home show the buyer as Ares Management CEO Michael Arougheti. Ares Management is listed as an investor for the Inter Miami CF for the Major League Soccer team with David Beckham.
Although Randy Frankel is the co-owner of the Tampa Bay Rays, he has also been apart of some big ventures. He is the former managing director at Goldman Sachs, real estate investor, owns vineyards on Long Island, gyms, country clubs, and has stake in a few European sports teams. The Frankels also recently sold a Miami penthouse for $6.45 million in January 2021 and another penthouse in December 2021 for $9.491 million.
About Sunset Islands
Sunset Islands are a set of four small islands located just to the West of Miami Beach. As the name implies, the islands are known for their captivating sunset views that offer both dry and waterfront lot homes. This luxury neighborhood is one of the most highly coveted in all South Florida.
Residents enjoy 24 hours a day gated entry, private docks for waterfront homes, and a central location to hot spots such as Sunset Harbour and Lincoln Road. Serving stunning water views, a prime locale, and elegant bayfront estates, the Sunset Islands community is undeniably one of Miami Beach’s finest.
There are currently 7 homes listed for sale on Sunset Islands with a starting price of $5 million.
Triple Tower Development Proposed by Hyatt and Gencom on the Miami River
Hyatt and Gencom have recently formed a partnership with the goal to redevelop downtown Miami’s Hyatt Regency into a 3 tower development site located directly on the Miami River. This development is expected to enhance access in and out of the city, and revitalize a major section of Miami’s riverfront.
The proposal calls for a privately funded makeover that includes a reinvented Hyatt Regency hotel with over 1,500 residential apartments, meeting space, and open-air public space along the Miami River.
Three skyscrapers are planned for the site. 682 multifamily apartments, a 615-room Hyatt Regency with over 100,000 square feet of conference space, and 264 serviced apartments will be housed in Towers 1 and 2, which will rise 61 stories.
Tower three, which is expected to have 860 residential units, will be one of South Florida’s highest structures dubbing it a supertall tower. According to a spokesperson of the joint venture, the supertall tower would be 1,049 feet tall, which is the highest height allowed by Miami’s zoning standards.
The towers will be above a podium structure with 190,000 square feet of Class A conference space, which is a 50 percent increase over the James L. Knight Center’s current capacity.
Tower Proposal
1,806 apartments
20,000 sq. ft. of co-working space
615 rooms under the Hyatt Regency hotel brand
190,000 sq. ft. of meeting space
12,000 sq. ft. of food and beverage/retail space
Restaurant and lounge located in a skybridge linking the two shorter towers just 700 ft high
50,000+ sq. ft. of public space
1,100 parking spaces
Rebuilt riverwalk spanning 480 feet
Covered pedestrian bridge connection to Metromover’s Knight Center Station
Arquitectonica is listed as the architect. Construction on the Hyatt Regency Miami property is planned to begin in 2025 if voters approve the project in November 2022.
One Thousand Museum has Officially Sold Out
One Thousand Museum has hit so many milestones since its inception in 2014. Just in the first month of sales in 2016, the luxury tower reached $30 million sold which remember 2022 tower sales launches. Now, One Thousand Museum has officially sold, solidifying the legacy of the late Pritzker-winning architect Zaha Hadid.
One Thousand Museum, also known as the Scorpion Tower, is a monument to brilliance and creativity, Through the views and design of Dame Zaha Hadid, it is a powerful physical statement about the soul of Miami.
With views of Biscayne Bay, the Atlantic Ocean, and Miami Skyline; One Thousand Museum is only minutes from South Beach and the Brickell financial district. This contemporary tower rises 60 stories with 83 total units; 4 duplex townhouses, 70 half-floor units, 8 full floor penthouses and 1 double story/full floor penthouse.
Two lower level floors are dedicated to an indoor/outdoor wellness and spa, as well as the rooftop featuring the Aquatics Center and Sky Lounge.
Developed by Louis Birdman, Gregg Covin, Kevin Venger, and Regalia Group, One Thousand Museum is South Florida’s first residential complex with its own rooftop helipad, allowing residents to quickly travel to adjacent islands, private and commercial airports, and private boats.
One Thousand Museum Amenities
A spacious fitness center with state-of-the-art strength and cardio training equipment
Spa with private treatment rooms, steam and sauna rooms, plunge pools, and relaxation lounge
Multimedia theater for private movie screenings, lectures, and presentations
Sun & Swim Terrace with pools, lounge chairs, cabanas, and poolside towel service
Aquatic Center with indoor, infinity-edge pool
Private dining room
Triple-height event space overlooking Biscayne Bay
Private rooftop helipad
Specialized security and valet personnel
Full-service concierge
Bank-quality vault with individual safe deposit box for every residence
One Thousand Museum Residence Features
Custom Italian cabinetry by Poliform
Fine quartz countertops by Silestone
Induction cooktop, oven, steam oven, microwave, dishwasher, and integrated coffee maker by Gaggenau
Refrigerator by Sub-Zero
Faucets and fixtures by Dornbracht, Duravit, and MTI
Interior doors by Lualdi Porte with door handles designed by Zaha Hadid
Custom-designed, Italian-made walk-in closets
Extensive state-of-the-art home automation by Crestron, allowing residents to control a range of in-residence applications including lighting, heating, air conditioning, audio, video, window treatments, and security
Oversized terraces
East-to-west flow-through floor plans
Demand for condominiums in Miami has increased within the past year. Residential home shortages, as well as an increase in relocations, are driving factors for this demand. According to Business Insider; bankers, fund managers, and executives are now moving to Miami from New York at an alarming rate. Luxury home sales tripled in December 2020 compared to the previous year and the future for this market looks even better!
Formula 1 Weekend is Here and We Have All the Details
The inaugural Miami Grand Prix brings Formula One to Miami, Florida this weekend. It is the fifth event on the 23-race F1 schedule and the first of 2 Grand Prix’s in the United States for 2022.
Located at the Miami International Autodrome, 37 Don Shula Drive, Miami Gardens, which is also the location for Hard Rock Stadium. The track itself is a temporary circuit around Hard Rock Stadium and the track stretches 3.363 miles long. It features 19 corners and the anticipated average speed is around 139 mph.
Top Drivers and Teams for F1 Miami
Ferrari’s Charles LeClerc leads the global drivers’ championship with 86 points, ahead of Red Bull’s incumbent champion Max Verstappen (59) and Sergio Perez (59). (54).
Despite this disadvantage, Verstappen remains BetMGM’s favorite for pole position and grand prix victory, with +100 odds on both.
Ferrari also leads the constructors’ standings with 124 points, barely 11 points ahead of Red Bull and 47 points ahead of Mercedes, the seven-time defending champion.
Where to watch?
Free practice round 1: Friday, May 6, 2:25-3:30 p.m. (ET) (ESPN2, ESPN app)
Free practice round 2: Friday, May 6, 5:25-6:30 p.m. (ET) (ESPNEWS, ESPN3, ESPN app)
Free practice round 3: Saturday, May 7, 12:55-2 p.m. (ET) (ESPNEWS, ESPN3, ESPN app)
Qualifying round: Saturday, May 7, 3:55 – 5 p.m. (ET) (ESPN, ESPN app)
The race producers have built a “dock” with 10 yachts overlooking the circuit’s turns 6-7-8 complex, with the vessels on trailers surrounded by a raised solid vinyl finish imitating water.
After Parties
It’s Bleau Live and the official premiere of ‘Miami Race Nights,’ with renowned DJs Calvin Harris and David Guetta, among others, at Fontainebleau Miami. Tickets start at $250 and go up to $55,000 for tables!
CARBONE BEACH will fuse an incredible culinary experience with live entertainment. Each evening of the limited engagement will begin with an expertly curated cocktail hour, followed by a seated dinner prepared by Chef Mario Carbone. This spectacular dinner party will feature CARBONE’S classic dishes, served with the sense of theater and luxury synonymous with the restaurant’s dining experience since it opened. Weaved throughout the evening’s journey will be surprise performances and authentic Italian touches – for a once-in-a-lifetime experience, available for American Express® Card Members only.
This weekend at E11Even Miami, Snoop Dogg, Travis Scott, and Tiesto will be performing just in time for Formula 1. Concert and ticket packages are available.
Weather
The weekend temperature is expected to be around 88 degrees Fahrenheit, with less than a 30% chance of thunderstorms on Saturday and Sunday. This might result in some unexpected thermal tire deterioration, affecting teams’ pit strategy. Thunderstorms would clearly halt on-track activity for safety reasons, but if there is a deluge, the immediate on-track racing might become considerably more volatile.
Groundbreaking Scheduled for Aria Reserve Miami
The groundbreaking for the long-awaited Aria Reserve in Edgewater has finally been scheduled. With the announcement of the groundbreaking also comes the announcement of sales launching for the second tower.
Aria Reserve will rise 62 stories tall reaching 627 feet, making it the tallest dual waterfront residential development in the United States. The project will feature two towers, each with 390 units and 1,608 parking spaces.
Sales for Aria began in June 2021 for South Tower and since the launch, its sales have been very successful. According to the Melo Group, over $40 million of all 12 penthouses have sold within the first 90 days of the launch. Now more than 90% of the units have sold with a total sales of over $600 million.
Construction deposits include a 30% deposit for all U.S. buyers and a 40% deposit for all international buyers. According to the developer, more U.S. buyers have purchased penthouses but overall units, the buyers have been half from Latin America and the other US buyers.
Residential units begin at $750,000. Although sold out, the penthouses started at $12 million. Units will feature 1 to 4 bedroom floorplans with 1,100 to 2,600 square feet of options. The penthouses themselves range from 3,500 to 9,000 square feet with each of them featuring a 3-car garage.
Tower Amenities:
2-acre recreation deck
Lap pool and spa
Gaming center
Playground
Tennis courts
Basketball courts
Paddle courts
Miniature golf course
Wellness center
Gym
Meditation Garden
Residence Features
Unobstructed views of Biscayne Bay and Ocean
Finished residences with two flooring options
All residences include 2 high-speed elevators
All residences include an office/media room
All residences are sunrise-sunset flow-through from East to West
3-month seasonal rentals allowed up to 4 times per year
The Aria Reserve groundbreaking ceremony is set for May 16, 2022. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
St. Regis Residences Miami Launches Sales for 2nd Tower-The William Tower
The William Tower located in the heart of Brickell, is set to rise 48 stories tall and feature a limited collection of 183 residences which will include penthouses and sky villas. The collection itself will showcase 1 to 7-bedroom ‘Bayview’ units ranging from 1,400 to 8,000 sq. ft. floor plans.
Each of the luxury residences will feature unobstructed views of Biscayne Bay, the Atlantic Ocean, and the Miami Skyline. Each residence will come equipped with state of the art technology, custom flooring, custom cabinetry, and high-end appliances
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
According to the email blast from the developers about the newest tower launch, each tower has its own personality and style, which shows in the newest renderings released. The developers for this project include the Related Group and Integra Investments with Robert A.M. Stern Architects as the leading architect.
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.
John Ruiz Plans to Build a University of Miami Stadium at Tropical Park in Miami-Dade
The University of Miami Hurricanes have been without a stadium since 2008 and have been traveling to the Hard Rock Stadium in Miami Gardens in Coral Gables for all of their home games. It’s been such a struggle for fans and students alike that a University of Miami alumni has taken it upon himself to remedy the situation.
John H. Ruiz, billionaire attorney and founder of MSP Recovery recently announced the plans to build a new stadium located at the Coral Gables High School. According to local officials, Ruiz did not consult with Miami-Dade County Public Schools or the City of Coral Gables on the plan.
Miami-Dade County Public Schools still owns the property where the proposed stadium would be built. Once his plans were denied, Ruiz then announced a new spot of the Miami Hurricane’s stadium, Tropical Park in Westchester. According to Ruiz, “It’s gonna be at 4 Tropical Park — there are about 270 acres there. The design is over the top, it’s gorgeous, I’ve seen it already a couple of times.”
The design for the stadium includes 65,000 seats with space for graduate-level classrooms and extreme water fixtures throughout the property. The architect behind the plans includes HKS Architects.
Tropical Park is publicly owned land by Miami-Dade County. Ruiz doesn’t appear concerned about speaking with Miami-Dade County, “We’re gonna present the plans to the county, but the county is less important in my opinion because it has to go out to a vote to the constituents as a referendum. Obviously, we’re going to talk to the commissioners and the mayor, but ultimately it goes out to a vote to the general public.”
This isn’t the first sports venture that Ruiz has been a part of. In 2011, he leased a 90-acre baseball development at the City of Homestead. The city later filed a lawsuit to evict him from the development 2 years later after he didn’t pay the utilities, insurance, and taxes on the property.
A private-sector attorney, Jose Sanchez-Gronlier stated that he didn’t want one of the last green areas in Miami-Dade County to be demolished for a stadium. It is unclear how residents and local representatives will respond to the new development. Ruiz will meet with the county to present the Tropical Park stadium idea to the county next week.
Calta Group Purchases Hollywood Development Site for $9.5 Million
A new apartment development could be in the works in downtown Hollywood. The Calta Group recently purchased the site located at 2215-2239 Hollywood Blvd for $9.5 million.
The 1.6-acre site was sold by Hollywood Construction & Development LLC which is managed by Joseph Horn of Miami. The same company purchased the site just late year in May 2021 for $7.7 million.
Several retail and office buildings currently occupy the site and would need to be demolished once the project is approved. The Calta Group, which is led by Ignazio, Gaetano Caltagirone, and Igor Blatnik plans to develop an 8-story apartment tower. The tower itself would feature 180 units and 1,800 square feet of ground-floor retail space.
The original design was proposed in 2019 by Borges Architects + Associates who would remain the lead for the project.
Amenities:
Pool deck
Business center
Gym
The groundbreaking will be scheduled for the 4th quarter of 2022 but the Calta Group still needs to select a general contractor for the project.
The Calta Group continues to make headway in Hollywood with their total construction projects reaching $1.5 billion.
Melo Group Tops Off on Downton 1st Tower
Downtown 1st, a 57-story mixed-use tower located in downtown Miami has officially topped off on construction just one year after its groundbreaking. Developed by the Melo Group, this tower is set to be the tallest that the developers have ever constructed.
According to Martin Melo, “After just a year from breaking ground, we are proud to top off. Downtown 1st is another project that showcases our compromise of enhancing Miami’s urban core and the continued activation of downtown Miami.”
Located at 30 SW 1st Street, Downtown 1st will spread over 743,073 square feet which will include 560 units (500,000 square of residential space), 12,930 square feet of office space, 2,925 square feet of ground floor retail and a 453 spot parking garage.
The units themselves will feature 1 to 3 bedroom layouts with penthouse options located on the top 2 floors of the tower. Units will range from 653 square feet to 1,200 square feet.
Amenities:
2 swimming pools
Landscape deck
Fitness center
Study rooms
Lounging areas
Spa
Completion of the tower is expected to be complete by the 4th quarter of 2022.
Melo has amassed a portfolio of over 6,000 condominium and apartment rental properties in the greater downtown Miami area since 2001. All construction and architecture are handled in-house by the fully integrated real estate development organization.
