As of yesterday, YotelPad has officially opened to guests for the first time since construction has been completed. Sales for the tower began in late 2020 and the development sold out within 15 months after breaking ground.
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 include 231 residential units while the hotel features 222 hotel rooms.
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.
Although the units have sold out even without a parking garage, prices for the condo units ranged from $450,000 to $500,000 and the developers have confirmed that more than half of the buyers were from China, Mexico, and Columbia.
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
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.
Marriott and Westin Open a Dual-Branded Hotel in Brickell
In Miami’s Brickell Financial District, a dual-branded hotel with considerable commercial space has opened. Robert Finvarb Cos. and Tony Cho recently finished the AC Hotel by Marriott and Westin located in the heart of Brickell at 115 S.W. Eight Street.
The AC Hotel totals 264 rooms with 156 inspired by the Marriott and 108 rooms by the Westin that caters to longer-term guests. Also included in the hotel are 22,500 square feet of ground-floor retail, and 4,600 square feet of meeting space. Rosa Sky is the bar located on the rooftop.
Amenities:
Pool
Bar in lobby
Fitness Center
Ground floor retail
Meeting space
Rooftop lounge
Robert Finvarb, CEO of the Finvarb Cos stated, “We believe our dual-brand property and Rosa Sky concept will fit in well with this market, offering an enhanced guest experience.”
The ground-floor retail space is currently under contract with Metro 1. Other tenants include a speakeasy piano bar Il Piano, Silver Mirror, La Suiza Bakehouse, and Toro restaurant.
Arquitectonica designed the hotel and John Moriarty & Associates of Florida was the general contractor. AC Hotel is just one block west of Brickell City Center and the Brickell Metrorail Station. AC Hotels currently have 107 locations in North America, 12 in Central America, 90 in Europe, and 6 in Asia.
Four Seasons Miami Sold for $130 Million
Developer for the Four Seasons Surf Club in Surfside recently purchased the Four Seasons Miami in Brickell for $130 Million. With this purchase, Fort Partners (developer for Four Seasons) now have full control over all of the Four Season properties in South Florida.
The deal was financed through a New York company Madison Realty Capital for a $105 million loan. The full purchase price is unknown but according to the press release, the property traded for close to $130 million. This selling price equals $588,000 per room.
The hotel located at 1435 Brickell Avenue is a part of a 70-story tower that includes residential units, retail, parking, and a gym. The hotel was completed in 2003 and was considered then the tallest tower in Miami.
According to the Managing Principal and Co-found of Fort Partners, their plans are to renovate the hotel. They also want to ‘modernize’ the hotel rooms, lobby, and pool deck. They are also looking for additional food and beverage restaurants/bars to join the brand.
The sellers for the hotel include Westbrook Partner, a New York-based company. They purchased the property 10 years ago with a 3 part deal to eliminate debt on another Miami Property. They originally acquired the property for $40 million. Fort Partners was represented by JLL’s Jim Dockerty, Kevin Davis, and Mark Fisher.
Last year, the tourism industry stood at a pause as well as a dim future. Now, that states have opened up and are allowing travel, we are seeing more hotel transactions. In June, Pebblebrook Hotel purchased Margaritaville Hollywood Beach Resort for $270 million. Allen Morris Company, Stormont Hospitality, and Black Salmon teamed up to purchase a Miami Beach hotel for $25.5 million. TPG Real Estate Partners have also purchased 2 hotels in Edgewater for $61 million.
Photo Credit: resortpass.com
Construction for Aston Martin Residences Reaches 53rd Floor and The Art Gallery is Revealed
The Aston Martin Residences Miami is creating a residence experience like no other! This pre-construction 66-story tower just unveiled a permanent art gallery located on the 52nd floor of this remarkable tower. Construction for the Aston Martin Residences is currently on the 53rd floor and the tower is 70% sold as of today.
Before the tower completion date, Aston Martin Residences will launch the Art Gallery virtually creating a 3D engaging experience. The gallery will showcase a new artist every 2 months.
For the opening event, Aston Martin Residences partnered with British artist and photographer, Julian Lennon, to showcase his exclusive collections. The virtual art gallery can be viewed from today through July 7th. The Art Gallery will have a physical opening in 2022.
German Coto, CEO of G&G Business Developments stated in an interview, “It’s this love of art together with a desire for the highest quality finishes, light-filled spaces, and of course, the stunning waterside location that has attracted clients to the Aston Martin Residences Miami. Art and design are woven into the soul of Aston Martin Residences…And we’re creating the Art Gallery to offer a secluded and exclusive space for our owners to immerse themselves in an ever-changing canvas of contemporary art.”
Aston Martin Residences is located at 300 Biscayne Boulevard Way in Downtown Miami. This remarkable tower will offer 391 residences consisting of one to five bedroom floor plans as well as a variety of penthouses. Pricing varies from $970,000 to $50 million.
Development Information
Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina
Amenities
Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with helipad on rooftop
24 hour valet and covered garage self parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators and separate dedicated service elevators
Digital connection to concierge and all building amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space, Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow dry station, pedicure chair, manicure table, and wash stations
Aston Martin Residences is scheduled for completion in 2022.
Pharrell Williams and David Grutman Debut the 7-Story Goodtime Hotel in Miami Beach
The 7-story Goodtime Hotel is located at 601 Washington Avenue in Miami Beach and will feature 266 rooms spanning a full block with 100,000 square feet of indoor space. This Deco-style hotel features a pool deck, restaurant, private lounge, and main floor retail.
Grutman and Williams also partnered with New-York based real estate development firm, Imperial Cos. for this project. They have previously collaborated on a Miami Design District restaurant, Swan & Bar Bevy which has been a huge success. Ken Fulk who assisted with the interior design for the Swan Bevy restaurant was also the lead designer for this hotel project.
Grutman stated, “I always wanted to be a hotel [owner] to try to complete my ecosystem in hospitality.”
The hotel restaurant, Strawberry Moon, is a 30,000 square foot Mediterranean restaurant which will also flow into a bar and pool deck, all located on the third floor. The ground-floor retailers have not been released.
According to The South Florida Business Journal, The Goodtime Hotel is expected to be the largest hotel in Miami Beach by rooms.
Property records also show that Imperial Cos. purchased the property for $5.75 million in June 2015.
Since people are wanting to spend more time outdoors due to the pandemic, Miami is now seen as the “go-to” destination. Imperial Cos. owner stated “If there is a net winner coming out of this pandemic, Miami is top of that list.”
