Kushner Acquires Multiple Edgewater Sites for a 1,100 Unit Development
In two separate transactions totaling $37.64 million, a Kushner Cos. subsidiary purchased an entire block in Miami’s Edgewater neighborhood.
Biscayne and 19th Street LLC in Miami, owned by Enrique Manhard, sold the 1.33-acre site located at 1900 and 1920 Biscayne Blvd.; 221, 231, 237, 261, 269, and 281 N.E. 19th St.; and 222, 230, 244, and 250 N.E. 20th St. to buyer, Laurent Morali, President of Kushner Cos.
Manhard’s firm built the property with agreements totaling $18.4 million in 2017, $2.52 million in 2018, and $1.64 million in 2020, resulting in a significant profit. The only lot that is not included in the block is the Advance Auto Parts on NE 2nd Avenue.
Several office and residential buildings are located on the land. Some were constructed in the 1920s. The 1900 Biscayne Blvd. site has the same zoning as the nearby 32,775 square foot lot at 2000 Biscayne Blvd. That property was also bought by Kushner for $20.5 million from a firm run by Manhard in July 2021. Its proposals for the other property include 420 units spread across 36 stories.
Kushner executives have stated that they intend to develop around 1,100 residences in Edgewater and their hope is to capitalize on South Miami’s hot market.
Kushner Cos. financed the property through MSD Partner in New York with a $20 million mortgage.
Charles Kushner, the father of Jared Kushner, former President Donald J. Trump’s son-in-law, leads the corporation.
LOFTY Club Residences Debuts in February-50% of Units Reserved
Lofty Club Residences will officially debut on February 17th with the grand opening of the brand’s sales lounge. As of this month, the project has reached 50% reserved and continues to climb.
Similar to its sister tower, NATIIVO (which sold out less in less than a year) Lofty will feature 380 units of fully finished and furnished interiors that will be available for rent nightly, daily, and/or monthly. Residents will have the option of self-managing their units (VRBO or Airbnb) or using Lofty’s onsite management.
Rising 44 stories, Lofty will feature studio, 1, and 2 bedroom floor plans with 485 to 930 square feet options. Pricing starts at $493k for a studio. There will also be available penthouses but the information hasn’t been released as of now.
Designed by internationally acclaimed, Arquitectonica, interiors will be designed by a New York-based interior design company INC New York. Developer Harvey Hernandez is also responsible for Brickell House and Centro towers. Hernandez purchased Lofty lot for $50 million
Lofty will feature a number of wonderful amenities including a butler service, rooftop pool, car service, and a 5-star restaurant that hasn’t been disclosed. This tower will also include a private marina with available docks for boating.
Building Features
The 40-story landmark building designed by internationally acclaimed architecture firm, Arquitectonica
Prime Brickell location is steps from Brickell City Center
Short-term rentals permitted as-of-right
Spectacular panoramic Miami River, Brickell, and Miami skyline views
2 Story lobby with floor to ceiling windows 24-hour welcome desk with concierge 24-hour valet parking 24-hour secure access Advanced technology smart-building with high-speed fiber-optic wireless internet access throughout common areas
Exclusive LOFTY app
Cutting-edge green building technology
6 high-speed passenger elevators with access control
On-site hospitality management Curated River-front restaurant with outdoor dining terrace
Building Amenities
Exotic resort pool with pool-side cabanas
Bar and grill on pool deck 24/7
Co-working lounge Private meeting rooms
Event room with exclusive terrace
A fully-equipped, state-of-the-art fitness center with HD TVs and wireless audio Private Peloton studios Yoga lounge and terrace
LOFTY Rooftop Experience
Residence Features
Urban luxury residences with modern open layouts from 485SF—930SF Studio, one and two-bedroom units
All residences are delivered fully finished and furnished specially curated by INC
Panoramic Miami River, and Miami skyline views
Private balconies for every residence
Corner units offer wrap-around balconies
High ceilings ranging from 9’ to 11’
Owner closets in every residence
Floor-to-ceiling sliding glass doors and sound attenuating impact-resistant laminated glass throughout
Advanced technology Smart Building wiring for HD TV,
Multiple telephone /data lines and ultra-high-speed internet access
Individually controlled energy-efficient central air conditioning and heating system
Kitchen
Imported European cabinets with premium hardware and drawer pulls
Top of the line appliance package including stainless steel refrigerator, oven, cook-top, microwave, dishwasher and sink disposal
Elegant imported stone countertops and backsplashes
Contemporary stainless steel under-mounted sink
High-arc gourmet faucet with integral sprayer
Master Bathroom
Imported European cabinets with premium hardware and drawer pulls
Elegant imported stone countertops and backsplashes
Harvey Hernandez, CEO of Newgard Development Group, “Buyer’s desire for new ways to own and use real estate assets, paired with favorable locations and economics, are nurturing investment growth in our properties.”
The groundbreaking is expected to begin in quarter 4 of 2022. The construction completion date is expected in 2024. If you or someone you know have an interest in purchasing at Lofty Brickell, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
December 2021 Posts Best Sales Month in Miami-Dade Real Estate History
This year has been a record-breaking year for Miami-Dade County real estate. Quarter one, we saw median sales prices reach record numbers as well as the number of homes sold. In the second quarter for 2021, a new record was set for the most home ever sold in that quarter.
In the third quarter, records for highest condo prices sold. And now, Miami has had its best December sales month in history with total homes sales, highest annual total dollar volume, most condo transactions, and most single-family home sales.
According to the Multiple Listing Service (MLS) for quarter 4, there has been 49% more sales and 103% more dollar volume in 2021. Year 2021 ended with 39,394 existing total property sales, up 49.5 percent from the 26,345 transactions in 2020 and 31.1 percent from the previous annual high of 30,041 transactions in 2013. Miami’s sales in dollars totalled $30.3 billion in 2021, an increase of 103.4 percent year over year.
The total sales record actually broke in October 2021 (10 months) which is a record in itself. In just nine months in 2021, Miami broke its all-time yearly condo sales record, selling 23,689 units, an increase of 80.9 percent over the previous year. Miami set a new record for annual single-family home sales in 11 months, with 15,705 units sold, up 18.5 percent from 2020.
Total home sales in Miami-Dade County increased 14.8% year over year in December 2021, from 2,990 to 3,433. While single-family house sales in Miami fell 1.2 percent, from 1,372 to 1,356, existing condo sales in Miami rose 28.4%, from 1,618 to 2,077. It’s the 15th month in a row that condo prices have risen by double digits year over year.
Nine of the top ten best house sales months in Miami history occurred in the year 2021. The month of June 2021 (with 4,057 total transactions) is still the most active in Miami’s history. Since MIAMI began keeping statistics in 1993, December 2021 (with 3,433 sales) has been the sixth-best sales month overall.
Home sales in Miami are also up considerably from December 2019. Total home sales in Miami increased by 41.6 percent in December 2021 compared to December 2019, from 2,424 to 3,433. Single-family house sales in Miami are up 15.5 percent, while condo transactions are up 66.2 percent, compared to December 2019.
In December 2021, single-family luxury ($1 million and more) transactions in Miami increased 18.6% year over year to 262. Existing condo luxury ($1 million and over) sales in Miami increased by 100% year over year to 264 transactions.
Luxury single-family homes have a 3.2-month supply, while luxury condos have a 7.5-month supply. Month-over-month and year-over-year, luxury months of supply continues to decline for all property categories.
In December 2021, 535 single-family houses priced between $400K and $600K sold in Miami, up 25.6 percent year over year. Existing condo sales in Miami increased by 101.7 percent to 359 deals, with prices ranging from $400K to $600K.
Single-family median prices in Miami-Dade County grew 15.4% year over year in December 2021, rising from $454,900 to $525,000. The median price of a single-family home in Miami has grown for 121 months in a row, a stretch of 10.1 years. The typical price of an existing unit grew 29.3% year over year, from $274,500 to $355,000. In 123 of the last 127 months, condo median prices have risen.
In December 2021, Miami’s total monetary volume was $3.1 billion. The dollar volume of single-family homes climbed 27.7% year over year, from $1.31 billion to $1.67 billion. Year over year, condo dollar volume increased 68.5 percent, from $853 million to $1.4 billion.
In December 2021, cash transactions accounted for 40.4 percent of Miami closed sales, up from 32.2 percent in December 2020. According to the most recent NAR statistics, cash sales account for about 23% of all house sales in the United States. Cash sales made up 49.1% of all existing condo sales in Miami and 27.1 percent of single-family home sales.
Do these Miami Restaurants have the Best Sandwiches in the US?
Who has the best sandwich in Miami? According to a consumer poll on Mashed.com, two of the best sandwiches in the United States are located right in our very own Miami. The sandwiches we are referring to include a cheesesteak sandwich from Batch Gastropub in Miami and a croqueta preparada from Sanguich de Miami located in Little Havana.
The Batch Gastropub creates a heavenly sandwich by brushing a smoke paprika aioli stacked with shaved ribeye that’s covered with white American cheese. The “cherry on top” is the sautéed hot cherry peppers and onions.
According to mashed.com, “The steak is juicy and exquisite, the bun is light, fresh, and a little crispy, and the pickled hot cherry peppers have just the right amount of heat to shine through all of the richness.”
The croqueta is in a whole other league with stacked high slices of ham and roasted pork topped with Swiss cheese. Extras include croquettes, mustard, and pickles.
“There’s a lot to appreciate about this sandwich, but the real stroke of genius is the choice to masterfully tuck a few croquettes in between all the unctuous meat, briny pickles, and melted cheese,” according to the review on this sandwich form Saquich de Miami.
Other restaurants that have made best food lists include Makoto in Bal Harbour and Itamae in Miami.
Estate Featured on Miami Vice Sells for $13.9 Million
Photo Credit: Jill Eber
Andian Group, a Miami-based development firm led by Andres Isaias and Alejandro Diaz Bazan recently purchased a Miami Beach waterfront home for $13.9 million. What a deal for the estate that was originally on Miami Vice.
The property is located at 1415 North View Drive on Sunset Islands. The property itself features 7,748 square feet sitting on 0.6 acres. With 6 bedrooms and 8 bathrooms, the contemporary design showcases custom walls, marble flooring, and soaring wood-beamed ceilings.
Skylights and large windows center on the incredible outside views. The home also features a custom bar in the main living area, a gourmet eat-in kitchen with top-of-the-line appliances. Carrara marble unfolds throughout the bathrooms making the home a luxurious retreat.
The exterior of the home feature an in-ground pool with a fountain, 97 feet of water frontage, and the ability to place a long boat dock.
Photo Credit: Jill Eber
The home was originally built in 1983 and was utilized from 1984 to 1990 for the filming of the original Miami Vice.
The property records state that the seller is Lions Global Venture out of Miami. Lions Global purchased the home in 2013 for $7.6 million.
The Andian duo plans to renovate and sell the home for profit. They have been very active in Miami Beach and have recently sold a home on the Venetian Islands for $15.1 million.
Photo Credit: Jill Eber
Expansive Mixed Use Tower Planned for Downtown Miami
Miami-Dade planners are working hard on reviewing the pre-application for a large mixed-use project in Downtown Miami.
The property located at 1370 NE 2nd Ave is within the Metromover Subzone of the Rapid Transit Zone District. Within this zoning district, some rules apply which includes up to 1,535 units permitted as well as the 40% glazing requirements.
The tower is anticipated to rise 649 feet tall at 43 stories. Passing the district rules, the tower is proposed to have 1,441 residential units.
The tower will be designed by Rafael Viñoly architects but the city planners are asking for clarification on some of the design elements throughout the project.
The county has stated that the awnings, balconies, and weather protection elements need to be at least six inches from the curb face but the plans appear to encroach on the curb face. Specifically the parking garage for levels 2 through 12 are encroaching.
The open space and landscaping code also needs clarification.
Amenities for the tower will spread over 5 stories and include a state-of-the-art-gym, pool, office elements, and more.
There will be offices dedicated to the auditorium for the Miami-Dade County School Board which will spread over 100,000 square feet. Offices for Crescent Heights will also utilize 19,673 square feet of space.
The plans also show that there will be 9 levels of parking and an expansive ground floor designated for commercial space.
There are currently no scheduled dates to review revised plans but if approved, the ground breaking would begin in 2023.
Waldorf Astoria Reaches 72% Sold and Ground Breaking Scheduled for 2022
Things are moving along with Waldorf Astoria Miami Hotel and Residences. At just 72% sold, developers have officially announced the ground-breaking for the elusive 100-story Miami tower.
The pre-construction tower is being developed by PMG (Property Markets Group and Greybrook Realty Partner in a joint collaboration. Rising 1,048 feet tall, Waldorf Astoria Hotel and Residences Miami will be the tallest Miami tower and Miami’s first supertall skyscraper.
According to the Managing Partner of PMG, Ryan Shear, the 72% mark was achieved in just 9 months. Shear also stated, “Miami is booming and quickly entering a new development cycle, and we are thrilled to be part of the Waldorf Astoria Miami’s legacy, which will forever transform the city’s skyline.”
In the press release of Waldorf, the developers stated that around 55% of buyers are domestic while 45% are international buyers. Most of the domestic buyers were from the Northeast, California, and South Florida. The international buyers include Mexico, Russia, Turkey, and Colombia.
This luxury project will include 360 condo residences, 205-key hotel rooms operated by Waldorf Astoria.
Towe Amenities:
Private bar/wine tasting room
Signature restaurant
Meeting and boardrooms
All-day dining brasserie
Waldorf Astoria Kids Club
Peacock Alley
True Waldorf service and concierge
24-hour valet parking
Waldorf Astoria immersive resort-style pool with outdoor cafe and private cabanas
24-hour doormen and lobby desk attendants
Live-in resident manager and 24-hour security
24-hour concierge services as well as access to dedicated on-site professionals
Signature spa
A leading-edge fitness center with private training studios
Owners Lounge with high ceilings, billiard and entertainment room, and adjacent catering kitchen
Private residential pool deck with whirlpools and lounging areas
Frontdoor package and service delivery via signature Concierge Closet
Exclusive Waldorf Astoria Miami access and benefits, including preferred spa and restaurant rates and access to a la carte hotel services
Residence Features:
The latest “smart building” technology with a custom Waldorf Astoria Residences app linking residents to 24-hour concierge services and building amenities
10-foot-high ceilings with floor-to-ceiling windows sporting stunning views of the city, Biscayne Bay, Miami Beach, and the Atlantic Ocean
All residential interiors designed by award-winning interior design firm BAMO
A contemporary lighting package including recessed lighting, dimmers, and lighting control
Includes integrated audio, video, and lighting systems
Fully built-out closets in all residences curated by BAMO
Flooring selections included with specifications recommended by BAMO
Built-in top-of-the-line in-unit washer and dryer
Valet parking included
Pre-wired for high-speed communications and data connection
Sub-Zero and Wolf appliance package with wine storage and integrated paneled microwave, dishwasher, built-in convection oven, and refrigerator/freezer
Kitchens featuring custom Italian cabinetry curated by BAMO
Dornbracht and Duravit bathroom fixtures and accessories
Master bathrooms with rainfall showers and custom Italian vanities
The building was designed by Carlos Ott and Sieger Suarez Architects. The design will resemble nine large, staggered/stacked glass cubes. The interiors of Waldorf Astoria Residences Miami were designed by BAMO.
Currently, there is a construction permit currently under review with Miami’s Building Department. The groundbreaking is scheduled for the first quarter of 2022 with a completion date set for 2026.
Elite Supermodel Adriana Lima Sells Waterfront Indian Creek Mansion for $40 Million
Former Victoria Secret supermodel, Adriana Lima sold her oceanfront Indian Creek Island mansion for $40 million.
Lima purchased the estate located at 22 Indian Creek Road in 2009 for $9 million and then remodeled the home completely in 2020. The home was originally built in 1958 and features 6,465 square feet of living space.
The old listing photos show the all brick ranch situated on 1.84 acres bayfront. The photos also show a traditional floor plan with wood-paneled walls and the original kitchen. The expansive patio overlooks a large dock and gorgeous ocean views.
The 6,465 square-foot mansion was built in 1958 and might be demolished. According to public records, Lima had the home’s interior remodeled in 2020. Although it was remodeled by Lima, the new buyers may demolish the property.
According to public documents, the trust associated with Lima, a Brazilian model, and former Victoria’s Secret Angel, paid $9 million for the four-bedroom, four-bathroom mansion in 2009.
According to the data, both the buyer and the vendor attempted to conceal their identities. Gordon Weiss, the proprietor of the CPA company Weiss & Weiss, manages the sale. Melep International Ltd, a British Virgin Islands company, is named as the buyer. The buyer’s genuine identity is unclear.
Indian Creek Island is a barrier island located in Biscayne Bay and has always attracted the super-wealthy dubbing its name “Billionaire Bunker.” On 294 acres of Island, 41 estates are nestled on the exclusive island surrounding a golf course and country club.
The island is heavily guarded, employing its own professional police force with an armed patrol boat, jeep, and jet-ski, operating 24 hours a day. Record-breaking home sales are commonplace on Indian Creek Island, where extravagance and utmost privilege are the standards.
Just Revealed: Related and Merrimac Announces New Tower The Crosby Miami Worldcenter
Related Group and Merrimac Ventures are now teaming up to develop a residential tower with no rental restrictions in the heart of Miami, The Crosby Miami Worldcenter.
The Crosby Miami Worldcenter will sit on 0.55 acres in the Park West neighborhood of Miami. Rising 31 stories tall, the residential tower will feature 450 condo units. The units themselves will be fully furnished and finished from studios to two-bedroom floor plans. Square footage will range from 350 to 825 square feet and pricing will begin in the low $300,000. Interiors will be curated by AvroKo.
Residence Features Include:
9-foot-high ceilings with floor to ceiling glass windows
Balcony with every residence
Finished interior and exterior flooring
Gourmet kitchens featuring custom Italian cabinetry
Bosch appliances, including paneled refrigerator/freezer, dishwasher, built-in convection oven/microwave, and cooktop
Rain showers in primary bathrooms and custom Italian vanities
Full-size washer and dryer in unit
Fully built-out closets
Contemporary lighting packages, including recessed lighting, dimmers, and lighting control
Brilliant smart-home system offering seamless personalization with the touch of a button, including the ability to control audio, climate, window treatments, and lighting systems
Smart keyless entry system allowing you to unlock your door via smart app, door code, keycard, or Apple Watch
The Crosby will be designed by Cohen Freeman Encinosa (CFE) Architects. The design of the tower appears modern with floor-to-ceiling glass windows on every floor and expansive terraces throughout. The Crosby features over 22,000 square feet of luxury amenities from a rooftop pool to a ground-floor restaurant.
Tower Amenities Include:
Expansive rooftop resort-style pool with jacuzzi, cabanas, and grilling stations perfect for entertaining
Private rooftop restaurant/bar Italian inspired trellis garden
Inviting fire pit lounge with breathtaking views of the Biscayne Bay skyline
State-of-the-art fitness center featuring saunas and plunge pools
Clubroom with private dining and stunning water views
Convenient juice and coffee bar
Spacious coworking center
Gaming lounge
Curated museum quality art throughout all common areas
24/7 security services, high-speed elevators, and controlled property access
24/7 concierge services European porcelain flooring
According to Nick Pérez, a Senior Vice President at Related, it took around two years to come to terms for the project with the managing partner at Merrimac and a co-developer, Nitin Motwani. The developers paid $12 million for the site.
The Crosby will have no rental restrictions and the buyers are able to rent out their units using any available platform for as many days as they would like. In the announcement, Related expects the buyers to be mostly investors due to there being no restrictions.
According to Motwani of Merrimac, “This will be the only for-sale product at Miami Worldcenter.”
The construction costs have not been disclosed and construction is expected to begin in 2023 with a completion date of 2025.
