Cherit Group Announces 4 Tower New Development -The River District
The New York-based developer Chetrit Group has announced a groundbreaking new district that will transform over six acres of the Miami River’s waterfront into a premier destination for art, entertainment, music, and culture as Miami’s bustling Brickell neighborhood transforms into one of the country’s most desirable urban cores.
The River District, a Brickell megaproject, is being planned with a total of four skyscrapers containing residential units, offices, and rentals with the first residential tower already under construction.
The River District will have 4 million square feet of new construction overall and will be located directly south of the Miami River.
The River District Amenities:
Yacht harbor (60 ft vessel accommodations)
1,600 homes
Class A office space
2,000 covered parking spaces
Nightclubs
Restaurants
Partnering with David Grutman of Groot Hospitality to offer dining and entertainment options. Additionally being planned are a riverwalk and marina. Architecture by Kobi Karp will be a part of the new development.
According to David Grutman, “The River District is going to be a highlight in Miami city’s ongoing transformation. Paired with Chetrit Group’s overall vision, I’m incredibly excited to bring Groot Hospitality to this game-changing development. We plan to feature versions of our existing concepts as well as all new ideas, across residential, restaurant, and entertainment spaces.”
Chetrit Group hired the highly regarded architecture and design firm Rockwell Group of New York for the interiors. For award-winning projects worldwide, including restaurants, hotels, airport terminals, and hospitals as well as festivals, museum displays, and Broadway sets, Rockwell Group is renowned for developing distinctive narratives. Each of The River District’s four skyscrapers stands out for its distinctive interpretation of the Brazilian tropical modernist motif.
The luxury condominium’s groundbreaking, which is anticipated to happen in early 2023 and is expected to be finished in 2026, will mark the start of the following phase.
Aria Development Plans 105 Unit Development in South Brickell-2200 Brickell
Miami’s 2200 Brickell is a brand-new, luxurious condo offering an unrivaled modern condo investment opportunity. Across from opulent waterfront towers, close to Coconut Grove and the Rickenbacker Causeway. On 1.65 acres, these 105 condo units will be a great residential choice in the most sought-after part of downtown Miami.
After the recent success of YotelPad and the current spectacular new short-term rental developments with AirBNB of 501 First Residences and 600 Miami Worldcenter, ARIA Development Group, a builder with high prestige in the market, will develop 2200 Brickell residences. Aria Development is also partnering with Largo and Place Projects on 2200 Brickell.
Developer: Aria Development Group, Largo, Place Projects
Architecture: Revuelta Architecture International
Interior Design: ODA New York
Number of Residences: 105
Number of Stories: 5
Residences:
1 Bedroom 590 – 864 SF
2 Bedroom 1,187 – 1,329 SF
3 Bedroom 1,470 – 1,846 SF
Garden Villas
2 Bedroom1,233 – 1,793 SF
Bedroom1,973 – 2,070 SF
Residence Amenities:
Floor-to-ceiling glass windows and sliding glass balcony doors
Large format ceramic tile flooring throughout the living area with engineered wood flooring in bedrooms
Fully tiled balconies featuring glass railings with access from the living room and primary bedroom of every residence
Custom gourmet kitchens designed by ODA New York with wood cabinetry and stone countertops
Luxury primary bathrooms featuring double vanities, stone countertops, porcelain tile on walls and floors as well as rain showers
Spacious, fully built-out custom closets
Dedicated laundry featuring a full-sized washer and dryer
Development Amenities:
Covered porte-cochère
On-site valet parking
Double-height, 24-hour attended lobby
Above-ground parking on all levels with direct access to residences
Electric vehicle charging
Luxer One automated parcel storage featuring tech-forward, contactless digital package delivery system with cold storage
The resident lounge and entertaining space
Dedicated work-from-home suites with conference room
World-class state-of-the-art fitness center designed by Homage Fitness
Custom children’s playroom designed by Silver Hill Arts
Cycling lounge & workshop and bike storage
WELL Building StandardTM designation with thoughtful and intentional spaces that enhance human health and well-being
Resort-style pool with outdoor spa and poolside cabanas
Pickleball court
Summer kitchen with ample seating
Outdoor fitness area designed by Homage Fitness
Children’s play area by Silver Hill Arts
Quarter-mile walking track
Pricing for the units will begin at $1,000,000.
Midway through October 2200 Brickell Holding LLC and Miami-Water Dade’s and Sewer Department reached an agreement for the supply of utilities for the new project. The demolition permit to clear the site was also issued in August 2022.
Developer for Lofty Brickell File Construction Permit
Miami’s Building Department is currently processing a construction permit to allow work to start on the 43-story Lofty Brickell tower.
Since the entire tower designs don’t yet appear to have been submitted, they aren’t currently being examined. However, it appears that on October 27th, the projected $420,000 in permit fees were paid in full.
A total of 362 residential units are being developed, per the permit application.
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 the Lofty lot for $50 million.
The contractor is named as Americaribe-Moriarty JV. According to a late October FAA approval, Lofty will soar to a height of 574 feet.
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 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 pull
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
Beyond the initial Lofty tower, there are plans for additional expansion. In September, utilities for 782 residential apartments, 11,364 square feet of restaurant space, and 13,928 square feet of commercial space were secured.
If you or someone you know have an interest in purchasing at Lofty Brickell, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.
New Renderings Released and Plans Updated for 888 Brickell Tower
For the new construction tower 888 Brickell, located in the heart of Brickell, JDS Development Group has submitted updated blueprints to the Miami-Dade County review committee.
The tower will still be built to a supertall height of precisely 1,049 feet or 82 stories, which is the highest height allowed in Brickell.
888 Brickell will still feature 259 luxury units but some of the changes include 52,144 square feet of fitness areas, 38,727 square feet of restaurant space, and over 250 parking spaces.
ODP is listed as the official architect, with Studio Sofield still named as the building’s designer.
JDS Development originally partnered with Major Food Group on the project but Major is no longer involved in the partnership. According to the announcement about the updated plans, JDS plans to reveal a potential new partner in the coming months.
New renderings have also been released and prices are expected to range from $1.6 to $11 million.
Empira Group Purchases Building Site for an 85 Unit Residential Project-CoralGrove Brickell
Empira Group, a Swiss company, has recently invested $9 million in a multifamily building site in Miami’s The Roads neighborhood as part of its introduction into South Florida’s real estate market.
According to a news release from the developer, Empira plans to erect the eight-story CoralGrove Brickell project on a half-acre plot of land adjacent to Coral Way, between 3025 and 3051 Southwest Third Avenue.
The property currently consists of a two-story and a one-story apartment structure, both of which are vacant and scheduled for demolition this year.
CoralGrove will contain 85 units, ranging from one-bedroom to three-bedroom homes, and 900 square feet of ground-floor retail space.
According to Rafael Aregger, Empira’s head of investments in the U.S., the previously approved 79-unit proposal for the site is being modified by Empira to add more units and relocate a pool that was originally planned for a mezzanine level to the rooftop.
According to Aregger, Empira, which has its headquarters in the town of Zug, manages investments on behalf of German organizations like pension funds, insurance companies, and banks. Empira, led by CEO Marcus Bartenstein, manages $7 billion in assets.
The company entered the United States two years ago, but its primary area of interest is real estate in German-speaking regions of Europe. Together with its joint venture partner Zidan Management Group, it has since built up a 2,100-unit apartment portfolio in the Midwest. The company’s American headquarters are in Empira’s Miami location. Additionally, it maintains offices in Stockholm, Dubai, and London.
According to Empira, the business is considering future development in Sun Belt states including Arizona, Texas, and Florida.
Construction on CoralGrove Brickell is anticipated to begin in 2023 with a completion date in 2025.
Bad Bunny and David Grutman Unveil Gekkō at Grand Opening in Brickell
Thanks to Bad Bunny, David Grutman, and Groot Hospitality, the bustling Brickell district of Miami has new eating alternatives. The world’s most streamed music artist and the restauranteur have officially debuted Gekkō, their new joint venture.
Although the official opening is tonight for the most talked about restaurant in Miami, the exclusive unveiling was last night which included many notables and so much delectable food!
Attendance included David Grutman and Bad Bunny themselves, with special guest Joe Jonas, Sophie Turner, David Beckham, Victoria Beckham, Timbaland, Lil Wayne, Future, Lele Pons, Jake Paul, and Candice Swanepoel. The turntables were taken over by Zack Bia, who played music for the partygoers to dance to.
The Japanese-inspired steakhouse offers the best Wagyu beef in the world along with creative and enhanced sushi options, opulent takes on classic chophouse dishes, brand-new handcrafted drinks, and much more.
In addition to being the name of a dedicated lounge, Gekkō—which translates from Japanese to English as “moonlight”—brings a creative, small nightlife venue to the center of the city’s social scene.
According to Bad Bunny, “Sitting down with friends to enjoy a good meal is one of the moments I value the most. I am thrilled that now I will have a hand in creating this experience for others.”
Gekkō’s menu combines the convivial and well-liked food of a steakhouse with the accuracy and modernism of Japanese cooking. Before moving on to starters, seafood, and steak, this starts with shared dishes, featuring traditional Japanese milk bread and a Kumamoto oyster with “Lava and Ice.”
Lobster dumplings and a creatively updated version of a wedge salad with yuzu buttermilk ranch dressing are two appetizer standouts. Highlights for raw dishes, sushi, and sashimi include Hokkaido Scallops and the novel 24k Otoro, a creation exclusive to Groot Hospitality.
The menu is anchored by a number of exquisite steaks, such as a Tomahawk cut, an olive-fed filet mignon from Kagawa, Japan, and a snow beef strip from Hokkaido, Japan. There are specialty dishes like Wagyu Skirt Steak and a Bone-In Ribeye. A variety of main meals are available, including Daring plant-based chicken, Creamy and Spicy Lobster, and more in typical Groot Hospitality fashion.
Up to 185 diners can be accommodated at Gekkō throughout a lavishly designed, flawlessly integrated indoor-outdoor flow. Rockwell Group, an architecture and design firm with offices in New York City, created the interior.
Gekkō’s charisma and nocturnal ambiance are enhanced by stylistic elements, such as a unique gold and red dip-dyed rope installation, graphic wall coverings, and velvet drapes. At the same time, the air is charged by lighted cuts and bars. Gekkō is located in Miami, Florida, 33131 at 8 SE 8th Street.
Ken Griffin’s Citadel Continues to Purchase Land and Properties in Miami
With a record-breaking purchase on the South Florida waterfront months ago, Ken Griffin has officially moved the Citadel’s headquarters from Chicago to Miami at the 830 Brickell new construction tower.
Along with the move and the purchase of a private residence, Griffin and his company were responsible for the $363 million acquisition of a 2.5-acre (1-hectare) unoccupied land at 1201 Brickell Bay Drive. Since the transaction closed in April, the buyer was hidden behind a limited liability company with a mailing address in Chicago.
The company announced last week that it intends to collaborate with developer Sterling Bay to design and construct an office tower on Brickell Bay, which is located in the city’s economic district and spans less than a mile.
Another LLC purchased a 28-story office building at 1221 Brickell Avenue earlier this month for $286.5 million across the street from the 1201 Brickell Bay site, according to public papers. Randall Davis, who also acted in this capacity for the 1201 LLC, is the authorized signatory for the 1221 Brickell LLC. Emma Bass and Angela Cusumano, the witnesses in a 1221 Brickell filing, also work at Sterling Bay.
The relocation of Citadel by Griffin represents one of the largest financial company expansions in Florida. Developers in Miami applauded the decision and said it would encourage more businesses to look for space in the city. Among the companies that have grown in the state recently are Dan Sundheim’s D1 Capital Partners and Goldman Sachs Group Inc.
According to the Bloomberg Billionaires Index, Griffin, 53, just relocated to Miami with his family and has a personal wealth of $29.1 billion. He has recently expressed his dissatisfaction with the governmental leadership in Illinois and Chicago’s crime rate, although he has long been investing in real estate in Florida, where he was born and raised.
Over the past ten years, the millionaire has amassed property in Palm Beach that has cost at least $350 million. During the Covid-19 epidemic, some of Griffin’s traders fled their offices in Chicago and New York and took over the Four Seasons Palm Beach.
Griffin recently purchased a number of properties in the Miami area, including homes on the prestigious Star Island in the middle of 2020 and a $45 million mansion in the Coral Gables district in April. An individual with knowledge of the situation claims that he has had Citadel personnel assess the commercial real estate in the city for at least two years.
Chicago Hedge Fund Citadel Establishes New Headquarters at 830 Brickell Tower
Less than two months after announcing that he was relocating the Citadel hedge fund from Chicago to Miami and planning to establish a new headquarters, billionaire Ken Griffin signed a significant lease for the company’s premises at 830 Brickell.
Citadel signed a long-term lease for about 95,000 square feet at the 55-story tower at 830 Brickell Plaza, according to people familiar with the arrangement. The skyscraper is being developed by Vlad Doronin’s OKO Group and Cain International, and the asking rates there have reached $125 to $150 per square foot.
Two leases at $130 per square foot are being negotiated, according to a second source, and recent full-service leases have been completed at $110 to $120 per square foot, making the Citadel’s deal ranging from $10.5 million to $11.4 million a year.
According to Justin Oates, SVP at Cain, OKO, and Cain anticipate finishing 830 Brickell within the next six months, with tenants moving in sometime next year.
Griffin revealed in June that Citadel and financial services company Citadel Securities would relocate their corporate headquarters from Chicago to Miami. The choice was made at a time when Miami has developed over the previous 15 months into a destination for the relocation and growth of out-of-state financial firms.
A 2.5-acre bayfront development site at 1201 Brickell Bay Drive has been purchased by Citadel, according to the information originally published by Bloomberg and confirmed by sources to TRD. In April, that transaction concluded for a record $363 million. Citadel may also be related to the $286.5 million acquisition in June of the 28-story office building at 1221 Brickell Avenue, which is across the street. The acquisitions have not been confirmed or disputed by Citadel.
Approximately 70% of the 640,000 square foot 830 Brickell building is already leased, a representative for the development team said.
Sidley Austin, a legal firm with offices in Chicago, acquired 60,000 square feet over three floors in July.
Sidley Austin, a legal firm with offices in Chicago, acquired 60,000 square feet over three floors in July.
Canadian asset manager CI Financial doubled its original lease signed last year to about 40,000 square feet in January.
Between late last year and this summer, other large tenants included the IT behemoth Microsoft, the insurance and financial services company A-CAP, and Marsh, the insurance division of Marsh & McLennan Companies.
New Renderings Revealed for Brickell Gateway Miami
Gazit Horizon in collaboration with Atlantic Pacific, has recently released new renderings for the 61 story tower, Brickell Gateway in Miami’s Brickell. The developers for Brickell Gateway tower are also waiting on the county planners for final clearance of the project.
Located at 90 SW 8th Street next to Brickell City Centre, will be the Brickell Gateway Tower. The 377,000 square foot project will bring residential units, office spaces, a hotel concept, and retail to the neighborhood.
The final submission to Miami-Dade on July 22 states that Brickell Gateway will rise 747 feet above ground and comprise the following:
18,287 sq. ft. of retail space located on the first 2 floors
348 parking spaces
504 residential units
The developers are taking advantage of the property’s position in a rapid transit zone, which enables assessment by county planners, rather than going through the City of Miami planners.
Gazit Horizons acquired the land in July 2017 for $29.5 million and March 1, 2021.
Demolition on the site has been completed and once approved, the groundbreaking will be scheduled for Winter 2022. Corwil is listed as the architect for this project.
24 Story Apartment Tower Proposed in Brickell
With plans for a 24-story tower in Brickell, a joint venture made up of two Mexican companies making their U.S. debut and a Miami-based partner is banking on Miami’s expanding apartment market.
Menesse International paid $23.5 million for the development site at 143 Southwest Ninth Street from a subsidiary of Miami-based Habitat Group.
According to property records, the current 5-story, 39-unit rental structure on the land was built in 1968 on 0.7 acres. According to a deed, Habitat Group paid $14.5 million for the location in 2018.
According to Andrew Rasken, managing director of Lucid Investment, the design calls for a Class A structure with 350 rental units, ranging from studios to two-bedroom apartments, perched above an eight-story podium with around 180 parking spaces and ground-floor stores. The project, which was designed by Behar Font & Partners, will have all the facilities.
Menesse International, which plans, constructs, and consolidates projects, has built communities in Argentina and the Riviera Maya region of Mexico. It now has a portfolio of 22 projects with more than 1,200 sold units.
It is the group’s first cooperative endeavor in the country. It is also the newest project planned for the Brickell Financial District, where office building is being stimulated by a surge in residential construction and an infusion of new businesses.
Construction is expected to begin next year with an anticipated completion date in 2025.
