13th Floor Investments and Key International Reach an Agreement with Presbyterian Church Site to Move Forward with Construction
At 609 Brickell Avenue in Miami, a new 80-story project, created by Sieger Suarez Architects, and developers 13th Floor Investments and Key International is moving forward.
The congregation and the Miami-based developers have a “transaction and development agreement,” according to a memo filed with the Miami-Dade Clerk of Court on March 2nd. The developer’s right to purchase the property, their duty to build the project there in accordance with the agreement, and their duty to transfer ownership of the new church improvements to the church after substantial completion are all included in the terms of the agreement. Only a memo verifying the existence of the arrangement was recorded. Other details of the agreement have not been released.
13K-BP Brickell Owner LLC is identified as the developing firm, while Arnaud Karsenti is mentioned as the developer’s authorized signatory on the letter. The project’s goal is to utilize the land that is currently used for parking and a religious school building at the back of the property while maintaining the main church structure.
The agreement provides a number of advantages for the congregation and might be worth $240 million to the church. As part of the arrangement, the church will be granted access to 148 parking spaces, 90,000 square feet of space in the new structure, and a small park. In exchange, the church will receive $48 million in cash, 15% of condo sales estimated to be $125 million, and a portion of revenue from the restaurant on the ground level.
The iconic 1949-built First Miami Presbyterian Church, was named a historical landmark in 2003, will continue to stand. The church had previously struggled with money, including a $7 million tax obligation in 2018 as a result of selling part of its lands.
The document submitted to Miami-Dade County does not specify the specific terms and conditions of the sale. It does, however, confirm “the Developer’s Obligation to Construct the Project on the Property in Compliance with the Agreement.”
Miami’s Review Board Approves New Construction Development in Overtown- Block 19
Miami’s Urban Development Review Board has given the green light to Overtown Block 19, a 25-story mixed-use development slated at 1159 Northwest 1st Court in Overtown.
The approximately 275-foot-tall building, which was designed by Nichols Architects with Witkin Hults + Partners serving as the landscape architect, is being developed by RNG Overtown LLC in Morganville, New Jersey. It will have 606,942 square feet of space divided between two towers connected by a podium, including 413 multifamily units, about 20,000 square feet of ground-floor retail, and 505 parking spaces.
The property is surrounded by Northwest 11th Terrace, Northwest 1st Court, NW 12th Street, and NW 1st Avenue and is part of Block 19 of the Alice Baldwin Subdivision. Within the Southeast Overtown/Park West Community Redevelopment Agency (SEOPW CRA) section of the city, the site consists of unimproved land.
The land is a part of a 1.16-acre Transit Oriented Development District (TOD) that spans from 1129 to 1159 Northwest 1st Court and 105 to 113 Northwest 11th Terrace. It is located four blocks north of the Overtown/Lyric Theatre Metrorail Station and south of Interstate 395.
Aluminum and clear glass window walls, smooth off-white, green, and light blue painted stucco reinforced masonry walls, and cast-in-place concrete wall projections make up the outside facade of the structure. The building’s pedestal will have panels with wood patterns, aluminum and glass storefront systems, art murals, and horizontal aluminum louvers. The balcony slabs will have dark metal railing systems.
As it combines cultural arts, produces sustainable jobs, promotes the neighborhood as a destination for culture and entertainment, and enhances the quality of life for Overtown inhabitants, Overtown Block 19 complies with the Southeast Overtown/Park West CRA Redevelopment Plan.
Construction jobs, long-term jobs for on-site facility maintenance, and commercial use will all be created by the project, which also includes artwork by a local artist to activate the facade and raise cultural awareness in the neighborhood.
Rothschild & Co. Financial Services Signs Lease at 830 Brickell
One of the biggest independent financial advice firms in the world, Rothschild & Co. will be opening up a location in the heart of Brickell’s newest construction commercial tower.
With many businesses choosing to occupy space at 830 Brickell, the deal signifies a continuation of South Florida’s flood of newly established businesses. Around 90% of the 640,000 square foot project is anticipated to be finished this year. It will be Brickell’s first brand-new independent office tower in more over ten years.
In addition to Microsoft,Citadel, the international law firms Kirkland & Ellis, Sidley Austin, Winston & Strawn LLP, and Baker McKenzie, A-CAP Insurance based in New York, the private equity firm Thoma Bravo, the companies CI Financial, and Marsh Insurance have signed leases in the past few months.
About 830 Brickell
830 Brickell is a 55 story Class A office tower located in the Brickell Financial District. Developed by OKO Group and Cain International, the tower was designed by Adrian Smith + Gordon Gill. Interiors have been designed by the Italian architecture company, Iosa Ghini Association.
830 Brickell totals 650,000 square feet.
With floor-to-ceiling windows, column-free spans, cutting-edge digital infrastructure with Wired certification, and a LEED Silver certification due to its innovative environmental efficient design, 830 Brickell will offer breathtaking panoramic ocean and city views that are unique to Miami.
An upscale rooftop restaurant and bar, a sky lobby with a nearly 2,500 SF health and wellness center and a first-rate conference facility, a 14th floor outdoor terrace designed by Enea Landscape Architecture, valet parking, electric vehicle charging stations, cafés, and white-glove customer service, including a 24-hour concierge, are just a few of the cutting-edge, first-class amenities offered by the tower.
OKO Group and Cain International are also responsible for Una Residences and Missoni Baia, residential towers in Miami. Missoni Baia has already reached 90% sold. Una is currently scheduled for completion in 2023. 830 Brickell should be completed by the end of 2023.
Construction Update for Namdar Towers in Downtown Miami
Namdar Towers are one step closer to breaking ground after receiving approval for a foundation permit on February 28. The permit will cover site and soil improvements, piles, and excavation with an estimated cost of $1.5 million. Permits that still require approval are for the tree and demolition permits.
In October, the Namdar Towers project was submitted to the UDRB. Miami’s Building Department is currently reviewing permits for development and demolition.
A 41-story structure with 680 units and a 43-story building with 714 units would make up the proposed Namdar Towers, which would have combined square footage of more than 1.2 million.
This project is planned in 2 phases, the 41-story tower will be part of phase 1 while the 43-story tower will be part of phase 2.
Development Information:
1,394 units
Pools
Fitness center
Bowling rooms
Golf simulators
Co-working space
7,984 sq. ft. of commercial space
336 parking spaces in a five-level garage
1,395 bicycle racks
The architect is identified as Behar Font with John Moriarty listed as the contractor.
According to its website, Namdar is a family-owned development company that was established in 1979. Ephraim Namdar, who has previously been named in media sources as the company’s founder and CEO, is in charge of running the LLC that bought the Miami property.
If you or someone you know have an interest in purchasing at Namdar, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Avra Estiatorio Opens Second South Florida Location at Lofty Brickell
Avra Estiatorio, a Greek eatery with a Manhattan origin, will open a second location in South Florida at the newest residential tower, Lofty Brickell.
Restaurateurs Nick Tsoulos, Nick Pashalis, and Marc Packer, the partners behind the upscale brand, have secured a lease for the bottom level of Brickell’s Lofty condo complex by Newgard Development Group.
The 15,000 square foot, 15-year contract, which has the possibility to be extended, can seat up to 300 patrons and a 3,000 square foot outdoor seating space with views of the Miami River. The triple net asking rent was $150 per square foot.
Once Lofty Brickell is complete, Ava Estiatorio will open. Only 1,500 square feet of retail space remain at the Lofty property after the Avra lease.
The first Avra Estiatorio restaurant debuted in New York’s East 48th Street in 2000. Now, the restaurant has three locations: two in Manhattan and one each in Beverly Hills.
Approval Pending for Construction on 10 Story Residential Tower in Miami Beach
An application has been submitted for design review approval to build a new 10-story mixed-use building at 6940 Abbott Avenue, the location of a former BellSouth office and parking lot that is no longer in use in the North Beach neighborhood of Miami Beach. The application was filed by 6940 North Beach LLC, a joint venture between entities controlled by Rainer Viete, Jose Boschetti, and Eduardo Otaola.
The 130-foot-tall structure will feature 134,573 square feet of space, including 96 multi-family units, 21 of which would be co-living units, 2,192 square feet of ground floor retail, and 90 parking spaces. It was designed by Arquitectonica with Biscayne Engineering serving as the land surveyor and civil engineer.
Unit floor plans include studio, one, and two bedrooms. The regular size units would be between 550 and 1,250 square feet, while studio units (co-living) will be between 403 and 437 square feet. A cafe, fitness facility, pickle-ball court, and a lap pool will all be on the rooftop.
The traffic engineer is David Plummer & Associates, while the landscape architect is Christopher Cawley Landscape Architecture. The interior of the building will be thoroughly illuminated by natural light thanks to the use of grey glass windows and a glass railing. Mixing these materials will produce a striking, modern appearance that blends nicely with the nearby North Beach neighborhood. A stunning concrete frame with spherical motifs grouped in a bond-like pattern wraps around all elevations of the residential component of the building, emphasizing its distinctive form.
The development organization has also offered hurricane-proof impact windows, passive cooling systems, resilient planting, a study of the elevation of the property and the elevation of neighboring properties, and a recycling or salvage strategy for partial or complete deconstruction. To integrate the loading and parking driveways, they also ask for a waiver. The granting of this waiver will enable the project to be better designed while still adhering to the TC-C district’s development restrictions and without the requirement for variances. The project’s anticipated construction cost is approximately $14,692,224.
National Developer PMG Announces West Eleventh Residences in Miami
In Miami’s Park West neighborhood, Property Markets Group unveiled plans for a condominium tower with short-term rental options.
West Eleventh Residences will offer short-term rental flexibility and a first-time opportunity for owners to enjoy fully centralized management with the ability to host guests 365 days a year on Airbnb.
At 18 N.W. 11th St., which is currently owned by Miami-based Block 17 Land Trust, West Eleventh Residences would rise 44 floors. For the project, PMG has joined forces with the Marc Roberts Cos. and the Miami-based Lion Development Group, directed by Michael Simkins. On the bottom floor, there would be a 30,000-square-foot entertainment facility and food hall in addition to 659 completely equipped condos.
Although Miami’s short-term condo rentals were just introduced a few years ago, they are now a significant part of the city’s most recent condo development boom. They give condo owners the option to occupy them themselves or rent them out for however many days are necessary, allowing them to potentially profit from higher daily rental rates.
The E11even Hotel & Residences, another condominium for short-term rentals, and the E11even Residences Beyond are being constructed by PMG, Simkins, and Roberts directly west of the West Eleventh Residences.
“The demand for short-term rental properties with on-site support for seamless hosting is high in South Florida, especially in downtown Miami,” said Ryan Shear, managing partner at PMG. “Not only will West Eleventh Residences offer flexible living options and luxury condo ownership for buyers, but it will also provide impeccable residences and superb amenities for Airbnb guests and owners to enjoy.”
Condos at West Eleventh Residences will range in size from 334 square feet for studios. The units would contain smart home technology for lighting, audio, video, and other features. Costs start at roughly $300,000. The real sales push will begin on February 20.
The project was designed by Sieger Suarez Architects.The structure would have a restaurant, a lounge, a fitness center, and a pool.
Simkins asserted that “our collaboration with PMG and Marc Roberts Cos. on West Eleventh Residences will once again underscore the area’s potential, solidifying Downtown Miami’s District 11 into a true live-work-play community for all.”
Sales Launch for Twenty Nine Indian Creek in the Faena District Miami Beach
JMH Development has officially launched sales for Twenty-Nine Indian Creek Condos, a boutique collection of only 11 private residences will rise at the nexus of Indian Creek Drive and Collins Avenue in the heart of the thriving Faena District in Miami Beach.
Twenty-Nine Indian Creek will reflect timeless sophistication and serve as an emblem for historic preservation, with architecture, interiors, and landscaping designed by renowned firm Urban Robot. The seven-story modern structure will house eight three-bedroom residences and one sprawling full-floor penthouse with an expansive wraparound terrace and panoramic views.
The development site is home to a 1930s Art Deco structure that has been hidden from public view for nearly 60 years. JMH Development will restore and relocate the structure to harmoniously integrate the past and present, resulting in two sprawling townhomes that will pay homage to the inherent design qualities of its former era.
Each elegantly appointed residence, ranging in size from 1,750 to 4,800 square feet, is designed to maximize space and seamlessly connect to the outdoors, with sweeping floor-to-ceiling windows and doors allowing in an abundance of natural light. Spacious terraces with iconic, undulated railings showcase exquisite craftsmanship that continues indoors – with meticulous attention to detail.
Gourmet chefs’ kitchens feature bone white lacquered custom cabinetry, Miele appliances with wine storage, and marble countertops and islands. Freestanding soaking tubs, dual vanities, honed flooring, and premium Hansgrohe fixtures are among the indulgent features found in spa-inspired bathrooms. Townhomes have double-height great rooms that are 18 feet tall, as well as private terraces with landscaped gardens and a summer kitchen.
Residents will enjoy a palm-tree shaded pool deck with daybed lounge chairs and tanning areas, a summer kitchen with barbeque and dining area, an outdoor shower, and direct access to a dedicated beach club. The Art Deco-inspired geometrical design of the building is complemented by lush landscaping with terraced walls and cascading greenery, water features, and a natural color palette, creating an immediate sense of serenity.
Twenty-Nine Indian Creek will be located in the city’s most vibrant neighborhood, allowing residents to easily explore world-class dining, hospitality, and cultural institutions such as the Faena Hotel and Faena Forum, The Miami Beach Edition, the upcoming Aman Miami Beach, and Bvlgari Hotel.
Prices range from $2.5 million to $10 million, with construction set to begin in Spring 2023 and completion expected in Q1 2025.
If you or someone you know have an interest in purchasing at Twenty-Nine Indian Creek, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Developer Files Permit for Vertical Construction on Riverside Wharf in Downtown Miami
Developers for the newest construction development, Riverside Wharf, located at 114 SW North River Drive in downtown Miami, has filed a permit for vertical construction.
Plans for the project include the construction of a 10-story building across 1.5 acres that will serve as a world-class entertainment destination, designed by highly-acclaimed architecture firm Cube3 Architects, with interiors by world-renowned iCrave and landscape design by Savino-Miller Design Studio, and developed by a joint venture partnership between MV Real Estate Holdings, Driftwood Capital, and Merrimac Ventures.
Riverside Wharf will feature 222,279 square feet of space, including a 165-room Dream Miami luxury hotel, a world-class 30,000-square-foot nightclub and rooftop day club, a high-energy 12,000-square-foot event hall and mezzanine, the rebirth and expansion of The Wharf Miami with 16,000 square feet of signature restaurants, a private marina capable of accommodating megayachts,
The permit was filed in December and no general contractor has been listed. MTCI Private Provider is in charge of the project’s plan review and inspections, according to Building Department records.
The developers stated in August 2022 that they intend to begin construction in the second quarter of 2023. Once construction begins, The Wharf Miami will close temporarily before reopening permanently as part of the new Riverside Wharf complex.
$80 Million in Sales in the Last 60 Days at The Elser Hotel & Residences Miami
In the last 60 days, sales of $80 million have been completed at the 49-story luxury condominium building The Elser Hotel & Residences Miami, which is under construction nearby at 398 NE 5th St.
With 75% of purchases coming predominantly from Colombia, Mexico, and Chile, this enormous sales volume indicates the crucial return of Latin American investment in South Florida as well as the persistently strong demand for turnkey, new construction properties in the center of Downtown Miami.
The Elser Hotel and Residences are located in the same lively area and have the same sparkling views of Biscayne Bay that Elser Pier did in the early 1900s. Elser Pier’s prime location in Miami’s thriving downtown area contributed to its status as the city’s top convention and entertainment hub.
Tourists and locals alike were drawn to the pier’s variety of venues and waterfront views. The legacy and extraordinary success of Elser Pier altered the future outlook for the corridor and created the foundation for the bustling bayfront metropolis we know today.
The Elser Residences Miami is a development of carefully designed studio, one-, two-, and three-bedroom condos. Elser, located in Miami’s most alluring area, Downtown Miami, will provide a vibrant and rich community fuelled by culture, glitz, and wellness. Find a wealth of amenities for living, working, and playing. Units will be available this summer for move-in.
Facts and Features
49-story tower located in Downtown Miami
Developed by PMG and Greybrook Partners
Designed by internationally renowned architecture firm Sieger Suarez Architects
Approved for short-term rentals
On-site hospitality management
Views of the Miami skyline, unobstructed views of Biscayne Bay and the Atlantic Ocean
Over 19,000 square foot double-height amenity deck overlooking Downtown Miami
and Biscayne Bay
132-Foot Resort Style Pool with private lounge areas
Two-Level Modern Gym & Fitness Studio
Co-working Lab
Valet Parking
Electric Vehicle Charging Stations
Latest Smart Building Technology
Only The Elser Hotel & Residences Miami would have a short-term rental program that was expertly run by a five-star operator among the current inventory in Miami. The structure would be open to unlimited day rentals.
Residences start at $600,000 or the equivalent in bitcoin, according to PMG Residential, the property’s exclusive sales team.
