Mast Capital and Starwood Capital Group have officially launched sales of The Perigon, a luxury condo development planned for an oceanfront site in Miami Beach located at 5333 Collins Avenue.
After the City of Miami declared the existing La Costa Condo tower unsafe last summer, Mast Capital bought out the remaining units in an effort to move forward with The Perigon. The City of Miami’s declaration came shortly after the collapse of the Champlain Towers South in Surfside. Mast owns approximately 88.5% of the current tower leaving 14 unowned.
In June 2021, Mast filed the development plans for the property and the official approval came in December 2021. Rem Koolhaas is named as the architect for the project while Tara Bernerd is listed as the interior designer. The design resembles a series of towers merged together allowing the residents optimal views of Biscayne Bay, Miami skyline, and the Atlantic Ocean
The development will rise 17 stories and feature 83 total units, with 10 of those units labeled as ‘guest suites,’ which will only be available to purchase by unit owners.
Units will range from 2 to 4 bedroom floor plans with 2,100 to 6,700 square foot options. Units will start at $3 million and will feature a number of luxury amenities and residence features.
Services
Residential butler
Dedicated lifestyle concierge
24-hour security and valet service
House car
On-site general manager
In-residence dining and catering from a signature on-site restaurant
Home management services from cleaning and maintenance to floral and pantry stocking (available for additional costs)
Tower Amenities
Signature oceanfront restaurant by a celebrated chef exclusive to residents
Beachside swimming pool and outdoor spa with sunbeds and cabanas
Pool and beachside food and beverage service
Direct entry to the dedicated beach, equipped with lounge chairs, umbrellas, and service
Sprawling conservatory offering daily breakfast bar
Stylish cocktail lounge and speakeasy
Dramatic double-height lobby with open lounge area
Luxury guest suites for friends and family
Sunrise lounge with catering kitchen for entertaining and events
Private spa with sauna and treatment rooms
A state-of-the-art fitness center with a high-impact training room overlooking the Atlantic Ocean
Bespoke wine room
Private salon for personalized beauty services
Screening room
Imaginative children’s playroom
Intimate garden and meditation lounge areas overlooking the Atlantic
Bicycle storage
Residence Features
Direct, private elevator entry to each residence
Gracious 10-foot ceilings with floor-to-ceiling windows
Private 10- to 12-foot-deep terraces designed to provide direct views of the Atlantic from every residence
Expansive living, dining, and entertaining area accented with linear cove lighting
Custom Italian kitchens designed by Tara Bernerd & Partners featuring honed marble countertops, backsplash, and island
Sub-Zero Wolf Appliance Suite
Primary bathrooms feature natural stone flooring and walls, custom bathtub, bespoke mirrors, and light fixtures
Walk-in wardrobes in each bedroom
The building is expected to top off in 2024 with a completion date in 2025. If you or someone you know have an interest in purchasing at The Perigon Miami Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Official Plans Submitted for Riverside Wharf
In December 2021, it was announced that a Miami Developer along with Driftwood Capital announced plans the rebuild The Wharf alongside the Miami River. Now, those plans have officially been submitted to Miami’s Urban Development Review Board.
The plans for this project include a hotel and an entertainment complex with retail, food, and beverage. The cost for the project is estimated at $185 million. The plans submitted include 174 hotel units operated by Dream Hotels and 91,733 square feet of commercial space.
A 16,000-square-foot restaurant, a 12,000-square-foot event hall, a 30,000-square-foot nightclub/rooftop day club, 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.
The zoning requirements for this type of proposal would include 417 parking spaces but the developers are requesting a 50% reduction in parking by the entertainment and hotel spaces sharing parking. Once approved, the parking spaces will be offsite.
A part of the proposed development includes public used land, which will require a special election. That election is currently scheduled for August 23 and it will involve a potential lease of the public property to the developer.
The 1.5-acre Miami River property at 114 Southwest North River Drive will be 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.
The Miami Urban Development Review Board is scheduled to review the development proposal on March 16, 2022.
St. Regis Residences Miami Reveals New Renderings
Sales have officially launched on the East tower of St. Regis Residences Miami. Along with the launch of St. Regis, comes new interior renderings and they are stunning! The Related Group and Integra Investments are bringing an architectural phenomenon to Miami.
Located at 1809 Brickell Avenue in Brickell, these ultra-luxury twin towers will rise 47 and 48 stories tall. The East tower will feature 149 residences with interiors designed by Robert A.M. Stern Architects and the Rockwell Group. With units ranging from 2,300 square feet two bedrooms to 8,900 square feet duplexes. Pricing for units will begin at $2,800,000.
With the release of the new renderings, Jon Paul Perez, President of The Related Group states, “Much like the original St. Regis hotel brought about a new era of glamour and classic sophistication for the Empire State, The St. Regis Residences, Miami, are ushering in a new era for Brickell and all of Miami. Our entire development team is honored to have the opportunity to bring such a storied brand to this city, especially when energy and optimism around our region’s potential is at an all-time high.”
Residence Features
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
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
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
For December 2021, Related announced $63 million in sales for the St. Regis Residences Miami. The groundbreaking is expected to occur in the 3rd quarter of 2022.
Revealed: Cipriani Residences Miami
After the successful opening of Casa Cipriani hotel and social club in New York, it is of no surprise that Miami will be getting the first-ever Cipriani branded residential tower, Cipriani Residences Miami.
Cipriani Residences Miami will feature 3 luxury towers spanning over 2.8 acres, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
The largest Cipriani tower will rise 80-stories and will feature 397 one to four-bedroom units with views of Biscayne Bay, Brickell skyline, and Simpson Park. The 2 smaller towers haven’t been revealed yet but will rise 59 stories and 50 stories tall.
Mast Capital paid $103 million, marking this transaction as one of the largest in Miami-Dade in 2021.
Cipriani is currently working with Mast Capital and Arquitectonica to bring this luxury building to life. Not only will the tower feature luxury amenities, but each residence will offer custom finishes and gorgeous designs.
Residence Features
• Generous living areas with ceiling heights of 10 feet • Floor-to-ceiling sliding glass doors and windows with magnificent panoramic views • Terrace access from the living room and primary bedroom of every residence • Gracious walk-in wardrobes in every primary bedroom • An exquisite selection of flooring options included • Direct elevator entry for select residences • Eat-in, open kitchen with custom Italian cabinetry inspired by Cipriani’s renowned style • Top-of-the-line appliances from Wolf Sub-Zero, including cooktop, integrated refrigerator, freezer, wine cooler, and dishwasher • Primary bathrooms with grand, stand-alone bathtubs and glass-enclosed showers; vanities with premium Italian cabinetry, imported stone tops, back-lit mirrors; separate room with water closet • Spacious laundry rooms with full-size washing machine and dryer, with a utility sink in most residences • Individually controlled, high-efficiency central air conditioning and heating systems, with linear diffusers in main areas to ensure seamless integration • Innovative smart technology infrastructure that enables home automation • Intelligent interface system for essential building services such as concierge, valet, and security
Cipriani has disclosed that the residential tower would have sophisticated, resort-style amenities for its inhabitants, as well as traditional design features popular at Cipriani restaurants worldwide.
Tower Amenities
• Exclusive private entrance with lush landscaping and elegant porte-cochère • Dramatic lobby leading to two banks of high-speed, touchless elevators • Signature private dining experiences by Cipriani • In-home dining and 24-hour catering services by Cipriani, exclusive to residents • Private dining rooms available for reservation, catered by Cipriani • Elevated resort deck with two swimming pools, a blissful outdoor spa, poolside cabanas, and a beautifully landscaped sun terrace • Poolside food and beverage services catered by Cipriani • Holistic spa with sauna and treatment rooms • Luxurious residents’ lounge for special events and intimate gatherings • State-of-the-art fitness center • Golf simulator • Pickleball court • Private salon available to be reserved for personal beauty services • Screening room with cutting-edge audiovisual equipment • Serene and spacious residents’ library • Engaging children’s playroom • Elevated four-level wellness center and lounge overlooking the Brickell skyline • Pet-friendly community with dog park • High-speed internet access across all public areas • Electric vehicle charging stations available • Air-conditioned storage rooms
For this specific project, Mast Capital has partnered with a private real estate equity firm, Rockpoint, which will be responsible for the multifamily component. Mast Capital will be utilizing MSD and CanAm for financing.
The developer is expecting a sellout of approximately $1 billion. The groundbreaking is anticipated for the end of 2022 with a top-off date in 2025 with a completion date in 2026.
Plans for Twin Condo Towers at the Turnberry Yacht Club Proposed
Jeffrey Soffer, CEO of YCM Acquisition LLC, has submitted a site plan to build on a section of the 18.4-acre site located at 19500 and 19735 N.E. 36th Street in Aventura. The current site is comprised of 7.6 acres of buildable land and 10.8 acres of submerged land.
Currently on the site is a marina, a 50-room hotel, a clubhouse, a spa, and tennis courts. The two proposed condos would replace the hotel, eight tennis courts, and a portion of the parking lot that is currently on the site.
The twin towers would be labeled as towers north and south and would rise 24 stories tall. The north tower would equal 398,000 square feet in the first phase of the project, with 145 condominiums, 10 service apartments, and 320 parking spots.
The residential units would range from 1,730 square feet for the two-bedroom floor plan to 4,990 square feet for the three-bedroom floor plan.
The service apartments would be smaller and range from 367 to 638 square feet. These suites would only be for guests of owners and can be purchased by the owners.
Each condominium would have its own pool, exercise facility, and social areas. Two additional tennis courts would also be built in the south tower.
Soffer is making a name for himself in Aventura, first with the Turnberry Ocean Club and a building north in Tequesta and now with this new development.
No dates have been submitted for the review of the proposal. Arquitectonica is the architect for these twin towers.
LIVWRK Wynwood Proposed for Miami’s Wynwood Neighborhood
The Brooklyn-based developer LIVWrk has submitted its second set of construction plans for their recently acquired Wynwood site. The site itself is located at 2400-2418 N Miami Ave. and 29 NW 24th St. from East End Capital.
The proposal themselves is included to have 2 separate buildings covering 922,466 square feet of total area. Both buildings will have rooftop terraces, while amenities will be separated between the 2 towers.
Building Information
Architect: Morris Adjmi
420 residential units (located in building 1)
59,461 sq. ft. of office space (located in building 1)
122 apartment/hotel units (located in building 2)
29,057 sq. ft. of ground-floor commercial (located in building 1)
556 parking spaces and 798 bike rack spaces in a 3-story garage (located in building 1)
8,996 sq. ft. of ground-floor retail (located in building 2)
Building Amenities:
Fitness center (building 1)
Social club (building 1)
Bar and lounge (building 2)
The developer purchased the 2.45-acre development site for $38.86 million. through Thorofare Asset Based Lending REIT Fund V based in Los Angeles, with a mortgage of $28.44 million. Asher Abehsera, the firm’s founder, leads LivWrk.
This is LIVWrk’s first Miami development in South Florida. Most of their current project is in progress in New York but the developers are also working on a collection of historic buildings in Los Angeles.
On March 8, 2022, the Wynwood Design Review Committee is scheduled to review the development plan which will include the design renderings.
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.
1,049 Foot Supertall Tower Receives FAA Approval for Brickell Neighborhood
Brickell may be getting a new supertall tower after receiving approval from the Federal Aviation Administration. Now the plans will move on to the City of Miami to discuss design, permits, and construction.
The tower located at 1428 Brickell would rise 1,049 feet tall on 1.15 acres. The property is currently owned by Miami-based real estate developer Ytech.
Ytech has the rights to build an 825,000 square foot structure due to the air rights. Ytech’s website states, “In a sea of high-rises, 1428 marks a new chapter for luxury development and a turning point for the Brickell area.”
The FAA application was originally submitted on July 30, 2021 and was just granted approval on January 14, 2022. The project is currently being called 1428. Its T6-48A-O zoning means the property could house a tower that’s at least 48 stories tall.
The only information that has been released about the property is that there will be hotel-like services that owners can participate in.
Ytech also owns property nearby where an 80 story tower is possible. This site could also be a possibility for an additional supertall tower as well.
The developer purchased the site in January 2017 for $26.5 million from The Taplin Company LTD after a threat of foreclosure. Currently, there is a 9 story Bank United office building that was originally built in 1971 with 100,762 square feet. Taplin first purchased the property in 1994 for $4.4 million.
Current Site of 1428 Brickell
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.
