YotelPad Miami is one of the newest condo-hotel developments in downtown Miami. Sales began in late 2020 and the entire tower sold out just 15 months after breaking ground. Now, closings are beginning for the 31-story tower.
Developed in a joint venture between Aria Development Group and AQARAT, YotelPad Miami is located at 227 NE Second Street in downtown Miami.
The tower features 231 residential condo units that range from 417 SF studios to 708 SF two-bedrooms. These units are located on floors 15 through 30. There are also 222 hotel units branded by the Yotel Britsh chain that occupy the lower levels of the tower.
Prices for the condo units range from 4300,000 to $499,000 and the developers have confirmed that more than half of the buyers are from China, Mexico, and Columbia.
Stantec is the architect behind Yotelpad. Each unit offers carefully cultivated floorplans with integrated living and dining areas. The fully-finished interiors feature contemporary flooring with floor-to-ceiling glass windows with a European kitchen and baths showcase custom cabinetry with stone finishes as well as Smeg Designer Italian appliances.
The units will also feature high-end appliances including an Electrolux washer and dryer, Grohe and Toto bath fixtures, Smart thermostats, Smart Lock System, and custom furniture packages.
Tower Amenities:
Elevated deck with pool, hot tub, and bar
Full-service restaurant and bar with outdoor paseo
Organic matcha bar
State-of-the-art fitness center
Private meeting rooms with co-working space
Valet parking
TransitScreen displays all your mobility options, in real-time
Private residential lobby with destination dispatch elevators
24-hour security and concierge
Secure storage unit for each residence
Enclosed bicycle storage
Skytop Lounge featuring a game area and chef’s kitchen
Digital package concierge
According to the sales team, “YotelPad Miami brought the market what it demanded, and to be successful in sales we really had to embrace the local community.”
The hotel side of YotelPad is scheduled to open on June 1, 2022.
Okan Tower Reaches $39 Million in Sales in 1 Month-Groundbreaking Planned for June
Sales have not slowed down for many pre-construction towers in Miami and that list also includes Okan Tower Residences. In a recent press release, developers saw just over $39 million in sales for the month of March.
Originally launched in May 2018, Okan Tower was put on hold in early 2020 due to the pandemic. Now the developer, Okan Group, is moving full force ahead. Okan Tower is expected to rise 70 stories tall with 163 condos and 263 condo-hotel units.
The tower will be located at 555 North Miami Avenue in Downtown Miami and will include luxury resort-style amenities, office spaces, entertainment areas, and a 316-key Hilton Hotel.
Prices for units at Okan Tower will begin at $387,000 for the condo-hotel units and $587,000 for the condos and will go up to $2 million. The hotel units will start on the 36th floor with studio to 2 bedroom floor plan options. These floor plans range from 445 to 1,250 square feet.
The condos will then begin on the 51st floor and will feature 1 to 3 bedroom floor plans. These units will have 695to 2,075 square feet of living space.
The tower will also feature a 2-floor penthouse with 1,875 to 2,040 square feet of living space. Okan will also include luxury resort-style amenities.
Amenities
70th-floor rooftop pool
Sky deck with cabanas
12th-floor lap pool
Clubroom and lounges
Health and fitness center
Spa
Children’s room
Theater
Wine cellar
Owner’s lounge
Amenity deck on floors 27-30
Cafe
Bars
Conference and meeting space
Ballroom
Spa with a marble Hamman
The groundbreaking is scheduled for June 2022. This will be the developer’s first real estate project ever.
If you or someone you know have an interest in purchasing at Okan Tower, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
NFTs, Velvet Ropes, and Miami
In partnership with Horizen Labs (a blockchain firm), club E11EVEN is teaming up to create a crypto-dedicated division referred to as ‘E11EVEN Crypto.’ This new division was announced last week and is planning to introduce NFTs (non-fungible tokens) to the Miami club scene.
NFTs have made huge headway in the US and especially in Miami. Private clubs, Art Basel, and real estate have all traded NFTs in the recent year and we can only expect that this blockchain market will continue to grow.
In order to understand the big news of E11EVEN, you must first understand what an NFT is. An NFT is a non-fungible token meaning that it’s unique and cannot be replaced with something else. If you look at bitcoin, you can trade one for another and you will have exactly the same thing with a set price. With an NFT card, if you were to trade it with another card, it will be valued at something completely different.
The collection of E11EVEN’s NFTs will be referred to as “11 Captain’s Club.” The artwork itself is inspired by the Miami club scene and will include the club’s iconic hat designs. Just one ETF will be priced at around $2,700.
Club E11EVEN has always been known for keeping up with trends and creating innovative revenue streams. The brand has its own vodka label, an apparel company, and even a real estate LLC that partners with FTX for its crypto operations. With this new NFT division, E11EVEN will pave the way for other brands to be involved in the crypto culture and club scene in the US.
According to the owner of E11EVEN, Michael Simkins, “We were the first major club to accept crypto as payment, and now we’ve processed over $5 million of it at the nightclub.”
Horizen Labs stated that they raised $7 million in August for the funding of this NFT division. E11EVEN is set to release the NFTs during the upcoming Bitcoin 2022 conference in April.
Gordon Ramsay’s Infamous Hell’s Kitchen to Open in Miami
In a statement recently released from Gordon Ramsay’s company, Ramsay will establish a Hell’s Kitchen branch in downtown Miami in late 2022. It will be the third Hell’s Kitchen establishment, after those in Las Vegas and Lake Tahoe. Two more locations, in Chicago and Washington, D.C., are also on the way.
The Miami location will be just as big and just as iconic as its other locations. The site itself will be located at the Metropolitan Miami Development which lies just north of the river in Brickell.
The space spreads out 16,000+ square feet over two floors, there will be a ground-floor patio and a second-floor dining terrace. Like its counterparts, there will be an open kitchen, bar, and signature fire depictions throughout the restaurant.
The menu will include the show favorites but with a Miami twist. Think oysters, shrimp cocktails, and seared scallops featuring Cuban and South American spices and classics. Other foods like beef Wellington, chicken scallopini, meatballs, and foie gras will also be on the menu.
You will know what you pay for with the fixed-price options that range from $75 to $85.
Ramsay himself stated, “I’m so excited to bring [the restaurant] to Miami. With its impressive food scene, Art Deco architecture, and amazing people, they really know how to bring on the heat, and I know Hell’s Kitchen will feel right at home.”
Gordon Ramsay is a British chef, tv personality, and restaurateur. He founded Gordon Ramsay Restaurants in 1997 and has been awarded 16 Michelin stars overall and currently holding 7. He began Hell’s Kitchen in 2004 and it received national recognition in 2005. Ramsay is known for his incredible skills, fiery attitude, bluntness, and his excessive use of profanity.
Hell’s Kitchen Miami will open in the fall of 2022. Aria Group and Architecture will be in charge of the design of this location.
New York Developer Secures $108M Construction Loan for a 42 Story
New York developer has secured a $108 million construction loan to construct an apartment building at the 27-acre Miami Worldcenter development in downtown Miami. The site covers approximately 20,980 square feet and is located at 697 N. Miami Avenue.
The New York developer under the name Block G Phase 2 LLC, which is managed by Mark Lapidus received the mortgage from Los Angeles Cim Real Estate Credit. Lapidus is the former WeWork CEO.
This property will be part of the current tower at Caoba apartments and will be designated as the second phase of this current tower. The new tower will be connected to the amenity deck of Caoba, which was originally opened in 2019.
The tower was originally approved in 2018 and was reactivated again in September 2021.
Construction is already underway and this second phase will feature 420 units rising 42 stories. The square footage for this property includes a project of 473,330 square feet which will include 4,103 square feet of retail.
The renderings show that the tower will not a parking garage but will share the amenity pool deck. It will also be a bit smaller in height and width but should remain very similar to the current design of Caoba. The cost of the project is estimated to be $82,833,750.
Coastal Construction and AECOM Tishman, is listed as the general contractor. The project is projected to be completed in late 2022 or early 2023.
Expansive Mixed Use Tower Planned for Downtown Miami
Miami-Dade planners are working hard on reviewing the pre-application for a large mixed-use project in Downtown Miami.
The property located at 1370 NE 2nd Ave is within the Metromover Subzone of the Rapid Transit Zone District. Within this zoning district, some rules apply which includes up to 1,535 units permitted as well as the 40% glazing requirements.
The tower is anticipated to rise 649 feet tall at 43 stories. Passing the district rules, the tower is proposed to have 1,441 residential units.
The tower will be designed by Rafael Viñoly architects but the city planners are asking for clarification on some of the design elements throughout the project.
The county has stated that the awnings, balconies, and weather protection elements need to be at least six inches from the curb face but the plans appear to encroach on the curb face. Specifically the parking garage for levels 2 through 12 are encroaching.
The open space and landscaping code also needs clarification.
Amenities for the tower will spread over 5 stories and include a state-of-the-art-gym, pool, office elements, and more.
There will be offices dedicated to the auditorium for the Miami-Dade County School Board which will spread over 100,000 square feet. Offices for Crescent Heights will also utilize 19,673 square feet of space.
The plans also show that there will be 9 levels of parking and an expansive ground floor designated for commercial space.
There are currently no scheduled dates to review revised plans but if approved, the ground breaking would begin in 2023.
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.
The Related Group Plans for Demolition of Site for New Tower-Miami Station
In January 2021, the developer, the Related Group revealed plans for a proposed transit-oriented tower called Miami Station. Now, plans are rolling out to begin demolition and preparation for construction.
The pre-construction site located at 525-533 NW 2nd Ave in the Overtown district of Miami recently filed to begin demolishing the current parking garage that sits on the site. The remains of the parking garage is that of the Logik office tower that stopped mid-construction during the recession in 2008. The concrete shell of the garage has never been utilized.
A separate lot is adjacent to MiamiCentral Station and is also the former site of the Krystal Tower that was never completed. A separate lot next door with the once planned tower, Avery MiamiCentral will eventually be added to the Miami Station site plan.
Once construction begins, the proposed tower will rise 41 stories at 459 feet tall. The proposed plans would include 309 apartments, over 200,000 square feet of office space, over 8,000 square feet of retail, and 510 parking spaces.
Units will feature studio to 3 bedroom floor plans a well as a few penthouse units ranging from 460 to 1428 square feet of living space.
The office space will occupy the first 12 floors with 13-foot slab to slab heights. The residential units will occupy the higher floors with 10-foot slab to slab heights.
Development Information
Developer: The Related Group
Demolition Contractor: BG Group
Architect: ODP
Structural engineer: B+J Consulting Engineers
MEP Engineer: Feller Engineering
Landscape Architect: Dixie Landscape
Exterior and Finishes: Facade +Envelope
Amenities
22nd-floor amenity deck
rooftop pool
Landscaped deck
Dog park
Several outdoor terraces
The date for the groundbreaking has not been set.
ARod Backed-Grand Station Apartment Tower is Complete and 80% Leased
Construction on Miami’s Grand Station Apartment tower has been completed. Alex Rodriguez and his partner Ricardo Vadio, owners of Rovr Development are the investors behind the $70 million construction project that was built on top of the existing Courthouse Center Garage.
Not only has ARod backed the construction of the project but his company Monument Real Estate Services is also the property Manager of Grand Station Apartments.
In early March 2020, partners for Grand Station obtained a $53 million loan from Saperian Capital to assist with the construction. Since Grand Station received their temporary certificate of occupancy in August, they have reached over 80% leased for the tower.
The tower located at 240 North Miami Avenue rises 30 stories and feature 300 units right in the heart of downtown. The development is a part of a public/private partnership with the Miami Parking Authority, which has assisted in adding an additional 350 spaces for the building totaling 1,200.
The tower features studio to 2 bedroom apartments with a monthly rent that ranges from $1,800 to $2,500. All units boast Italian kitchen cabinets, quartz counters, stainless steel appliances, and an in-unit washer and dryer.
The luxury tower amenities include an indoor pool, rooftop terrace with pool, outdoor kitchen, hot tubs, fitness center, and club room.
Zyscovich Architects and Anillo, Toledo, Lopez LLC are responsible for the design of Grand Station.
Rovr along with the Related Group and Airbnb are the masterminds behind the new development, The District located at 225 North Miami Avenue.
