St. Regis Residences Sunny Isles Beach Reaches $700 Million in Sales in 6 Months
The St. Regis Residences, Sunny Isles Beach, Miami’s developers are pleased to report that sales of the exquisite property have exceeded $700 million in just six months, reflecting the overwhelmingly positive response it has received from buyers worldwide.
The St. Regis Residences, Sunny Isles Beach, envisioned as a private residential resort with a vast array of health, culinary, and entertainment services totalling over 70,000 square feet, is poised to be the tallest residential structure on the ocean in South Florida.
In a magnificent location, where skyline-defining architecture, avant-garde design, impeccable craftsmanship, and hallmark St. Regis service and rituals combine to offer a singular experience of seamless luxury.
The two towers will be referred to as the north and south towers. The south tower will have 194 units that range from 2 to 4 bedroom floor plans including a selection of penthouses. The North tower is planned to feature 180 residences but sales will launch at a later date.
Residence Features:
Spacious floor plans boasting unobstructed ocean, city, and Intracoastal views
Ceiling heights clearing 10ft in regular units and 12ft in penthouses
Fully finished with flooring and closets
Private elevator and entry foyer in all residences
Service elevators
Italian designed kitchens with Quartz countertops
Miele appliances including wine cooler
Walk-in closets in all primary bedrooms
Laundry rooms with full-size washer and dryer
Smart home technology ready
Service quarters in select residences
Full floor residences with spacious floor plans
East and West terraces with pool on the east
Spacious terraces with luxurious private pool and jacuzzi
Summer Kitchen
Custom-designed Italian cabinetry
Graciously appointed primary suits and separate service quarters with separate entrance
Stunning, 360-degree views of the Atlantic Ocean and Intracoastal Waterway
Indoor BBQ
Indoor/Outdoor living space
Tower Amenities:
Managed by the St Regis Hotel Company, without hotel premises.
Grand entry driveway and 2-story porte-cochere
Impressive two-story lobby
10 Guest Suites per Tower
Concierge Services
Pet-friendly and much more
Private beach facilities
Oceanfront and sunset pools
A signature restaurant
Wellness center
Spa
Athletic club
The construction plans show 1,000 parking spots available for residents and the starting price for units begins at $3.5 million. The project is expected to begin in 2023 and be delivered in 2026.
If you or someone you know have an interest in purchasing at St. Regis Residences Sunny Isles Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Related Group Requesting Permission to Develop Mixed Use Project on Miami River
The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.
The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.
The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.
In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.
The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.
The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.
It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.
On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.
Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.
Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.
The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.
The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.
The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.
Developers File Coastline Review for a 30 Story Mixed Use Tower
In North Bay Village at 1755 Kennedy Causeway, B Developments under the LGE NBV, LLC submitted a request to Miami-Dade County for a coastline review. Arquitectonica was hired by the developer to create a mixed-use structure that would be 345 feet tall, 30 floors tall, and directly face Biscayne Bay.
Due to the property’s frontage on Biscayne Bay and its compliance with Article III, Section 33D of the Miami-Dade County Code of Ordinances, the application is necessary. The coastline setback and side setback are subject to variance requests from the developer. A structure with 30 floors must be 75 feet away from the main shoreline and 25 feet away from the side shorelines, according to the County Code’s setback requirements.
The property can’t be developed strictly in accordance with the criteria due to the tower’s height, the property’s size, and the lot’s proportions. To build in compliance with the site plans, the setback from the beach would have to be decreased to 25 feet, resulting in a 50-foot variance.
The developer is offering to construct a public bay walk behind the property along Biscayne Bay as leverage to get the variances allowed for the project because the County standards cannot be met. On the plus side, the proposal complies with the 2020 Island Walk Design Criteria as well as the North Bay Village Unified Land Development Code.
According to floor designs submitted in February 2022 to the North Bay Village Planning & Zoning Board, the distinctive two-story waterfront restaurant would occupy 19,455 square feet of area between the ground floor and mezzanine level. From the mezzanine level to floors 2 through 5, 8 and 9, the majority of the west podium would be occupied by offices. There are five storeys of parking on the podium’s remaining surface.
On the 6th and 7th floors are the residential amenity levels, which have a landscape deck with three pools, barbecue spaces, fire pits, kids’ splash pads, party lounges, residential lounges, game rooms, sky lobbys, and fitness centers. On the south and west sides of the sixth level, there will be a separate amenity deck that the office tenants can use.
BuildingPlans Description
473,252 square feet project
201 residential units
32,654 square feet of amenities
19,455 square feet for a 2-story restaurant with a waterfront terrace
1,860 square feet of office space
408 parking space in a parking structure podium
The landscape architect is listed as Arquitectonica and the civil engineer as Kimbley-Horn.
Residential units would start on the 10th level and range in size from 670 to 2255 square feet, including 104 one-bedroom, 83 two-bedroom, 8 three-bedroom, and 6 four-bedroom units.
Demolition Permit Filed and Renderings Revealed for 710 Edge Tower
In October 2021, developers announced plans for a 55-story tower, 710 Edge that will be located in Edgewater. Months later the plans were approved by the Miami Review Board and now permits have been filed with new renderings attached.
The permit that was filed will allow total demolition of the site which would include several buildings that are currently on the property.
Two adjacent waterfront buildings were submitted on July 29th with one of the buildings as Harbor 29. A total of 16,000 square feet will be demolished costing the developers $151,000.
The second permit is for 530 NE 29th Street which totals 4,590 square feet estimating $25,250.
On both permits, Dade Wrecker Service is identified as the demolition contractor.
The projected height of 710 Edge is 55 stories, or 646 feet (649 feet) above sea level. 710 Edge will include 70 residential units, 193 parking spaces, 16,000+ sq. ft. of commercial and retail, a rooftop helipad, and a public baywalk.
Proposed by 710 Edge LLC, owned by Kevin Venger, Michael Konig, Louis Birdman, and Alex Posth were also a part of the development of One Thousand Museum. Sales have not yet been announced.
Approval Received for 87 Condo Tower in Coral Gables
A 16-story condo development by Location Ventures has officially been given the green light by the Coral Gables City Commission this past Monday.
Location Ventures plans to construct an 87 condo tower on a 1.6-acre plot at 1505 Ponce De Leon Boulevard, as well as at 122 and 126 Menores Avenue. According to the meeting, the project would cost over $350 million and with only 87 condo units, the average price per unit would be north of $4 million.
The new condo would have 319 parking spaces, 10,500 square feet of retail space, and 87 homes in its almost 500,000 square feet. The fourth story would have an amenities deck. A full board room for private meetings, as well as a spa with a steam room and sauna, were among the features listed by Kapoor. Along Mendoza Avenue, there would also be a public dog park located outside the building.
The majority of the condos would have three or four bedrooms, with a few one- and two-bedroom apartments. According to Kapoor, prices would start in the mid $1 million level or roughly $1,000 per square foot.
The site is mostly unoccupied, however, there is a 1925 structure that is 5,736 square feet in size which Location Ventures consented to refurbish and restore that structure so that it might house restaurants.
The owner of Location Ventures, Rishi Kapoor, plans to partner with a high-end luxury brand to market and design the property but no luxury brand has been named in the agreement documents.
Location Ventures anticipates starting construction in late 2023 and starting sales this fall.
Cipriani Residences Receives FAA Height Approval for 3 Tower Project
As the approval and permit process continues for Miami’s newest luxury tower in Brickell, Cipriani Residences is one step closer to construction.
The developers for Cipriani has just received approval for the height clearance for the 3 tower development with one tower at 80 stories, one at 60, and another at 50 stories. According to the Federal Aviation Administration, the tower is approved at 940 feet above ground or 950 feet above sea level.
The two rental towers have a maximum height of 693 feet above ground.
Cipriani Residences Miami, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
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.
The project will features 1,300 residential units spreading over the 3 towers, 18,300 sq. ft. of restaurant space, and 1,600 parking spaces.
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. Arquitectonica is listed as the architect for the project.
The groundbreaking for this project is anticipated for Q4 of 2022 with a completion date in 2026.
Renderings Revealed for Miami’s M Tower
In Downtown Miami, at 56 SW 1st St and 65 SW 2nd St, the 57-story M Tower is moving forward after construction plans were filed and renderings released by developers. The Miami Parking Authority and Downtown 1st Street LLC are collaborating on the creation of the M-Tower.
Last week, the developer filed the plans with the Urban Development Review board and those plans included some significant changes. The newly filed plans included a height increase from 49 stories to 57 stories.
The new plans also have an increase of 675 units, up from 404 apartments. There will also be 694 parking spaces in an 8-story podium connecting to a commercial space expanding 10,531 square feet.
Drive aisle, floor plans, and a parking reduction are among the zoning concessions that the developers are asking for.
Although an unlimited is permitted on the property, the Federal Aviation Administration would still have restrictions on the height.
Nichols Brosch Wurst Wolfe & Associates is listed as the architect. The next Urban Development Review Board meeting is scheduled for July 20th. If this new design is approved, construction would begin in Winter 2022.
PMG and Partners Rebrand Society Residences as The Elser Hotel and Residences
In a bold move, PMG and their partners have recently changed the name of their new construction project Society Residences Miami to The Elser Hotel and Residences. According to their press release, “the new brand provides a more cohesive DNA and identity for both the residences and the hotel which reflects Downtown Miami’s transformative legacy.”
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. Delivery is anticipated to occur in August 2022.
Developers for Lofty Brickell Acquire $170 Million Construction Loan
Newgard Development Group, the Miami-based real estate company led by Harvey Hernandez recently acquired a $170 million construction loan for Lofty Brickell.
Lofty Brickell is a 44-story apartment tower that is a component of a three-building and marina project proposed by the Coconut Grove-based 3650 REIT. The 1.6-acre construction site located at 99 Southwest Seventh Street on the Miami River.
According to the press release, Lofty Brickell will contain a private marina, a members-only social club, and an NFT art collection for unit owners.
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 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
Eighty percent of the tower’s units are under contract and Newgard anticipates starting construction in the fourth quarter of this year. When Newgard paid $50.5 million for the Brickell-area property in September, 3650 REIT also gave the developer a $55 million acquisition loan. The new construction loan was obtained by Lotus Capital Partners under the direction of Faisal Ashraf.
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.
