CEO of Kayak Breaks 2 New Condo Records all on the Same Day
Photo Credit: Eloy Carmenate
Kayak co-founder and CEO Steve Hafner paid $40 million for a penthouse on Fisher Island–Palazzo Della Luna after selling his smaller unit at L’Atelier Miami Beach for $36 million in two straight record-breaking deals.
One of the records include Mr. Hafner’s duplex at L’Atelier Miami Beach, which was listed for $39.9 million in March and sold on Friday. Mr. Hafner purchased his 6-bedroom, 7.5 bathroom unit at L’Atelier Miami Beach for $21 million in 2017 while the project was still under construction. Mr. Hafner and his wife, Staci Hafner, worked with Bart Reines Luxury Home Builder to redesign the 8,000-square-foot unit.
A glass elevator, a private 40-foot infinity pool, and a summer kitchen and bar are all included in the penthouse. SMG Management and W Capital Group developed L’Atelier.
Mr. Hafner then smashed his own record by purchasing a nearly 10,000-square-foot condo at the Palazzo Della Luna on Fisher Island later that evening. The seven-bedroom mansion was first listed for $40 million in 2018 and then relisted for $48 million in April.
The new purchase sits on Fisher Island, a 216-acre private island south of Miami Beach, and is home to around 800 CEOs and business owners. According to the listing, Mr. Hafner’s new house at the Palazzo Della Luna is on the 10th level with various terraces and a rooftop patio with a pool.
According to the company’s website, Mr. Hafner co-founded Kayak Software Corporation, an online travel booking tool, in 2004. Booking Holdings bought the company for $1.8 billion in 2013. According to property records, Mr. Hafner, who also owns residences in Rowayton, Conn., and the Hamptons, sold his New York condominium for $23.5 million earlier this month.
Before these new records, the county’s highest-priced condo purchase of the year was a penthouse at Continuum that sold for $35 million in April. The highest-priced condo transaction ever was a $60 million double penthouse at Faena House in 2015.
According to the press release, Hafner hasn’t been to their NYC apartment since the pandemic first started and they didn’t see a way back. The seller’s were represented by Eloy Carmenate with The Corcoran Group. The buyer of the L’Atelier penthouse is currently unknown.
Miami Developer Plans to Rebuild The Wharf in a $185 Million Project
On the site of the iconic downtown Miami’s The Wharf along the Miami River, a Miami developer is teaming up with Driftwood Capital to build a $185 million Dream Hotel and entertainment complex.
The Riverside Wharf project will consist of two 10-story buildings, one of which will house the 165-room Dream Miami hotel. According to a press release, it will also contain a restaurant, nightclub, and entertainment establishments, including an expanded and updated version of the Wharf. Some additional amenities will be built including a deep-water yacht port, and a public riverwalk.
A 16,000-square-foot restaurant, a 12,000-square-foot event hall, a 30,000-square-foot nightclub/rooftop dayclub, and 600 feet of river frontage are all planned for the 200,000-square-foot project.
Garcia’s Fish Market may also set up shop on the property as a pop-up market. Its commercial fishing activity used to be located on the property.
In 2016, voters in Miami approved a deal that awarded MV Real Estate Holdings, led by Alex Mantecon and Guillermo Vadell, a long-term lease on half of the land. The other half is also owned by MV Real Estate Holdings and is located in an Opportunity Zone.
The 1.5-acre Miami River property at 114 Southwest North River Drive was developed by MV Real Estate Holdings and its partner, Coral Gables-based Driftwood Capital. Nitin Motwani, the managing partner of Merrimac Ventures and the developer of the Miami Worldcenter, is also a general partner in the project, according to Mantecon.
According to Mantecon of MV Real Estate Holdings, the developers plan to seek project permissions from the Miami River Commission in January and then go before the Miami City Commission. Cube3 architects’ John Cardello is designing it, with landscaping by Savino-Miller Design Studio.
Once approved, construction is planned to begin in 2022 with a completion date in 2025.
Miami is Getting St. Regis Branded Twin Condominium Towers
The Related Group and Integra Investments are teaming together to transform the beachfront site of an affordable senior living housing facility in Miami into a pair of luxurious St. Regis-branded condo buildings. The towers are expected to rise 48 and 47 stories tall on 3.16 acres on 1809 Brickell Avenue.
The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.
Since 2014, Miami-based Integra has owned the existing bayfront building, formerly known as the Stanley Axelrod Towers. Integra paid $14 million for the 17-story tower currently located at the pre-construction site called the George Humphreys Tower built-in 1966.
According to documents from the Department of Housing and Urban Development withdrew the building from its affordable housing agreement in summer 2021. This implies that one of the remaining affordable housing complexes in Miami’s Brickell Financial District, one of the most expensive districts, will be demolished shortly.
According to a principal at Integra, Nelson Stabile, “Given the insatiable demand for top-tier residential product, we feel the market is ready for a bespoke building of this caliber — a masterpiece with an elevated lifestyle experience that only the iconic St. Regis brand can deliver.”
Units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million. Throughout the twin towers will span 55,000 square feet of amenities that will include a St. Regis Tea Room, an indoor lap pool, and a residents-only restaurant.
While the building will not include a hotel and short-term rentals will not be authorized, St. Regis Hotels & Resorts, located in New York, will provide services to future condo tenants.
Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.
A-Rod Flips a Bay Point Miami Waterfront Property for a Profit
Alex Rodriguez is at again! In another recent investment move in Miami, A-Rod and associates recently sold a waterfront home as a flip for $6.3 million. The property is located in the Bay Point neighborhood of Miami.
Rodriguez and his partners purchased the property in March 2021 for $5.5 million without doing any renovations or redevelopments for the property. This isn’t the first time A-Rod has made headway in Miami. In October 2021, A-Rod has invested in the Grand Station apartment tower as well as the South Beach Hotel in August 2021.
This current waterfront property located at 4425 Island Road in the heart of the Design District was originally built in 1962 along a lagoon leading to Biscayne Bay. The home features 3,107 square feet of living space sited on over 15,000 square feet of water frontage.
The property features a traditional floor plan with tall ceilings and an abundance of natural light. The kitchen showcases an expansive island with white cabinets, granite countertops, and stainless steel appliances.
The property features an in-ground pool, bbq area, and lush landscaping. The current listing states that the property is good for a new build or the renovate the existing home. The buyers for this property plan on redeveloping it for their needs.
Over the past year, prices for Bay Point have increased especially with waterfront homes. Although these prices are much lower for the surrounding areas, A-Rob and his associates made a profit on this investment.
Developers for Legacy Hotel & Residences Receives Third Largest Construction Loan Ever in Florida
Developer Dan Kodsi’s Royal Palm Companies recently received a $340 million construction loan for Legacy Hotel & Residences. New York-based real estate lending joint venture Silverstein Capital Partners, provided the loan for a condo-hotel construction tower that will be located in Downtown Miami at Miami Worldcenter.
According to a press release, the financing is the third-largest construction loan ever made in Florida, behind two others for projects in Miami-Dade. The other two loans were for the building of The Estates at Acqualina in Sunny Isles Beach ($558 million) and Five Park in Miami Beach ($345 million).
Legacy Hotel & Residences began selling in late 2019 and despite the pandemic, it is already entirely pre-sold, with $160 million in sales.
The luxury tower located at 942 Northeast First Avenue, will rise 50 stories at 668 feet tall making it the second tallest tower at Miami Worldcener. This mixed-use development will feature 312 residential units, 262 luxury hotel rooms, a business center, medical office, retail space, and rooftop atrium.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO.
Not only is this loan one of the largest construction loans in Florida but this is also Silverstein Capital Partner’s first South Florida loan. Larry Silverstein of Silverstein Properties is an affiliate of the financial group and also led the development of the World Trade Center after 9/11.
Kobi Karp Architects, Design Agency, and ID & Design International designed the structure.
The ground-breaking for Legacy Hotel & Residences occurred in August 2021 and is expected to reach top-off in 2024.
Plans for a 23 Story Tower Proposed in North Miami Beach
Miami-based Humberto Ramirez Developers are currently under contract on a North Miami Beach office building with plans to a 23-story condo-hotel.
Officially scheduled for December 13, North Miami’s City Planning & Zoning Board will be presented the proposal for the tower located at 2040 N.E. 163rd Street. The 1.09-acre site currently holds a 3 story 26,766 square foot office building with a medical practice and a consulting firm as the current tenants. The property is currently owned by North Miami Beach company, 2040 Investments.
Designed by Bermello Ajamil & Partners, the proposed tower would feature 334 condo units, 30 hotel rooms, and a 410-space parking garage (13 electric car spaces) totaling 272,660 square feet. According to the proposed plans, 144 one-bedroom units, 162 two-bedroom units, and 28 three-bedroom units.
The property would also feature 7,328 square feet of retail space. The parking garage would rise 7 stories tall and the hotel rooms would line the front of the garage.
Amenities for this tower would feature a pool deck above the parking garage, game room, and fitness center.
North Miami Beach has adopted revised zoning for its eastern portion in recent years in order to stimulate construction and increased density. The city hopes to attract additional people as well as business development to the region
Aston Martin Residences Presents the Penthouse Collection
In the wake of top-off on construction for the sail-shaped Aston Martin Residences, a series of exclusive penthouses known as the Penthouse Collection was unveiled. There are currently 7 sprawling penthouses in the collection for the 66-story super-tall skyscraper. The most unique thing about these penthouses is that each floor plan and finishes are custom and 100% gorgeous.
The penthouses begin on floor 56 right above the amenity deck. Two of the penthouses, which are at least 8,800 square feet in size and cost between $16.7 million and $25 million, have already been sold. While the developer releases the collection, here is some exclusive information on penthouse number 5!
This penthouse located on the 60th-floor features 12,397 square feet of indoor and outdoor living space. Expanding through the entire floor, you will find 4 bedrooms, 6.5 bathrooms, and staff quarters. With 360 degrees of ocean and Miami views, this penthouse has it all, from the white marble to the floor-to-ceiling windows and beyond. Each penthouse includes a gym and a private terrace with a pool.
Did we also say that once you purchase one of the Penthouse Collection units, an Aston Martin DB11 or DBX will become yours? That’s right. And what makes it so much better is that you’ll be able to park your new Aston Martin in the signature garages designed just for your luxury car.
The lower-floor apartments, all of which face the ocean, start at a still-generous 3,600 square feet and $5.525 million, and include access to the building’s members-only community.
Development Information
Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina
Residence Features
Private service entrance at basement level for all move-ins and personnel
Bulthaup custom cabinetry in kitchens
White marble floors throughout the entire unit and porcelain in all balconies
Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
Gagganeau appliances in all residences: (sizes depends on units)
Duravit wall-mounted toilets in all units throughout the building and bidets in select units
All bathrooms feature marble floorings and walls (Thassos or similar
Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
Italian Bertolotto doors with AGB hardware in all units
Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
Floor soundproofing system installed throughout all units including all bathrooms
Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
German Schuco hardware on sliding glass doors
ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
High-speed elevators going up to 1200 feet per minute
High-speed internet and Wi-Fi hotspots in all common areas
Cast iron pipes and risers avoiding Waterflow noises
Amenities
Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with a helipad on the rooftop
24-hour valet and covered garage self-parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators and separate dedicated service elevators
Digital connection to concierge and all building amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space, Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow-dry station, pedicure chair, manicure table, and wash stations
This luxury tower is already 75% sold and continues to sell out quickly. Construction for Aston Martin Residences is expected to be completed in 2022. If you or someone you know have an interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Art Basel Miami Beach Attracts Over 60,000 Attendees
Art Basel returns to Miami Beach with its first ever in-person show in the United States since 2019. With robust sales and exceptional presentations, this show paves the way for years to come. Art Basel’s first show took place on December 2nd, closing on December 4th with reports of brisk sales across all market areas and throughout the course of the exhibition.
The event drew over 60,000 people in total throughout the course of its VIP and regular days with well-known art collectors from 72 countries throughout the United States, Europe, Africa, and Latin America as well as 253 international galleries from 36 countries. In 2019, the art exhibit drew in 81,000 but with the new digital programs, Art Basel could be experienced from the comfort of home.
Through a digital program that includes Online Viewing Rooms, virtual walkthroughs, livestreamed chats, and social media broadcasts that bring the energy and excitement of the show floor to the widest global audience possible. This digital program first tested at the Hong Kong and Basel show with a successful implementation.
According to an Art Basel press release, 44 galleries joined the event for the first time ever, which included Wilding Cran Gallery from Los Angeles, Curro from Guadalajara, Daniel Faria Gallery from Toronto and many more. There were also 4 additional galleries from Africa.
According the Global Director of Art Basel, Marc Spiegler, “This show marks the first truly international art fair to take place in the United States since the beginning of the pandemic. It has been incredible to witness again the energy in the halls and the enormous pent-up demand for seeing, buying, and selling art in person. We featured a much more diverse range of voices than ever before, making this show particularly vibrant and rich in new discoveries.”
Art Basel will be coming back to Miami Beach on December 1st-4th, 2022.
Plans Submitted in Miami for S-Shaped Mixed Use Tower
In 2018, plans for a 60-story mixed-use project located at 1370 NE 2nd Avenue in Edgewater was proposed. The proposal was expected to bring 100,000 square feet of office space, 1,100 residential units made up of condos and rentals, and 1,100 parking spaces. The developer, Cresent Heights purchased the land in March 2017 for $64 million but the project came to a standstill.
Now, alternative plans for the site have been submitted that still would include a large mixed-use complex. The developer for this project will still be Cresent Heights and they will be combining the $64 million dollar property with land owned by the School Board of Miami-Dade.
The 1.13-acre development site will be designed by Rafael Viñoly Architects and the towers themselves will take the shape of an S. The project will include 1,441 residential units, 100,000 square feet of office space (dedicated offices for the School Board of Miami-Dade County), auditorium, 19,673 square feet of office space for Cresent Heights, 5 levels of amenities, and nine levels of parking. The towers will rise 43 stories reaching 649 feet tall.
Amenities:
bowling alley
indoor basketball court
indoor lap pool
indoor running track
management office on the ground floor
9 parking levels (3 public, 6 restricted)
The developer has chosen to have the proposal reviewed by Miami-Dade County under the Metromover Subzone Zoning Standards. The move permits them to avoid the more stringent planning, zoning, and design approval required by the City of Miami.
