After spending 5.5 years on significant renovations and imported furniture, Igor Olegovich Nesterenko, a businessman in the meatpacking industry from Moscow, sold his Fisher Island property for $21 million.
The unit located at the Palazzo Del Mare unit 7153, features 5 bedrooms, 5.5 bathrooms, a terrace, a playroom, and a conference room spanning over 7,025 square feet. It also has a private 2-car garage on the parking level of the building and a private cabana near the pool.
Nesterenko spent the 5.5 years refurbishing the condo because Fisher Island only allows for roughly half of a year’s time for construction due to noise restrictions.
Furthermore, much of the furniture was purchased from abroad and was rather large and proved difficult to ship overseas. The bathtub in the master bedroom was fashioned from a solid block of Greek White Thassos marble and was carried into the apartment using a crane. The majority of the furniture was also brought by crane since it was too large for the elevator.
The 7,025-square-foot Unit 7153 located at Palazzo Del Mare was sold to Fana Fisher Palazzo 7153 LLC, managed by a trust in Bellevue, Washington purchased the condo for $21 million equals $2,989 price per square foot.
The trust is under the umbrella of the Fana Group of Cos., a real estate corporation located in Bellevue led by Chairman and CEO Firoz Lalji.
The apartment was designed by Augusto Busnelli of Milan, according to Flikshteyn. The previous owner spent around $10 million on upgrades. The property was last sold in 2011 for $8.3 million.
The Palazzo Del Mare was built in 2007 and with an expansive amenity package including a 9-hole golf course, 18 tennis courts, a marina and yacht center, a gourmet market, 8 restaurants, and Spa Internazionale. A Fisher Island Day School and a mile and a half of pristine beaches.
Fisher Island, America’s wealthiest zip code, is a 216-acre barrier island located across Government Cut from Miami Beach. Fisher Island condominiums are in a class of their own when it comes to ultra-exclusive living in South Florida.
The island, which can only be reached by ferry, boat, helicopter, or seaplane, provides unrivaled protection. All visitors to the island must first be checked by security at the Fisher Island port.
Rosso Development and Standard International are Partnering to Bring a 228 Unit Condo Project to Midtown
In its very first partnership, Standard International along with Rosso Development are collaborating on a residential project that will bring a 12-story tower to the Midtown neighborhood of Miami, the Standard Midtown.
Sales are slated to begin on November 30. Arquitectonica and Urban Robot are collaborating on the project, which will be located on the southwest corner of Northeast First Avenue and Northeast 32nd Street across from a grocery store development that is currently under construction.
The Standard Midtown will feature 228 luxury condos ranging from 432 to 965 square feet of living space with studio to two-bedroom floor plan options. Prices will range from $329,000 to $829,000
Payment Structure:
Deposit 10% at reservation
Contract and Groundbreaking 20%
6 months after contract 10%
Top off 10%
Closing 50%
The units will feature cubby kitchens designed by Urban Robot, expansive terraces, and master baths with double showers. Unit owners will be able to rent their units for periods up to 30 days with exclusive benefits to friends and family.
Amenities:
35,000 square feet of amenities
10,000 square feet of retail space
Expansive lobby with lounge areas and a cafe
Rooftop restaurant
Bar
60-foot resort-style pool
Sweat room and fitness center
Indoor pickleball court
Yoga and stretch studios
Karaoke bar
Pet Spa
Party room
Carols Rosso, owner of Rosso Development has stated that this is his first major development since he left the Related Group. Rosso hinted at additional Standard-branded residential projects in the pipeline.
Standard International, currently operates 16 hotels in the United States and across the world and owns a waterfront hotel on the Venetian Islands in Miami Beach named the Standard Spa.
Construction is planned to begin next year and be finished by the middle of 2023. The site at 3100 Northeast First Avenue, as well as the air rights above the existing neighboring garage, are owned by Vadia’s Midtown Opportunities VIIIB LLC.
U.S. Lifts Restrictions for International Travelers November 8th-Will this Change the Miami Real Estate Market?
Since the pandemic, the Miami condo market has flourished with record-breaking sales, massive tech companies making moves to Miami, and new developments being announced every day. One of the biggest variables that South Florida has always counted on was the international buyers, but due to travel regulations, foreign buyers have dwindled.
In the past 12 months, homes sales for international buyers have dipped to 31% making it the lowest since 2011, with Florida having the most sales to foreign buyers. Although Miami has seen a surge in condo sales this past year, the majority were domestic buyers.
With President Biden’s announcement of lifting travel restrictions for foreign travelers from certain areas in Canada and Countries in South America, this is big news for the real estate market itself. Beginning November 8th, vaccinated travelers can resume travel into the United States. With this, we can expect to have an increase in international buyers.
According to the Miami Chairman of the Board (MIAMI Association of Realtors), Jennifer Wollmann, with international travel resuming in the United States in November, the expectation is that foreign home buying will grow in the coming months.
According to Biz Journals, elections in Peru and Colombia are soon and South Florida may see an influx in buyers from those areas. The Senior Vice President of the Related Group, Eric Fordin has stated that he was surprised at the number of international buyers taking an interest in the District 225 project. According to Fordin, the new construction tower has over 100 buyers that are from Colombia.
Even with the increase in new construction towers, inventory remains at an all-time low for single-family homes and condominiums. Currently, there are only 631 condos in new or under construction remaining unsold.
According to The White House press release, there will be a second phase to requirements for all inbound foreign travelers in January 2022.
Official Groundbreaking Date Set for E11EVEN Hotel & Residences
The long-awaited date for E11EVEN Hotel & Residences groundbreaking is finally set and we can’t be more excited. On November 11, 2021, construction will begin on the 65-story tower located in the Park West District in Miami.
One of the developers, PMG, posted on their social media accounts the big news along with the tower being 98% sold. This is of no surprise as E11EVEN is considered one of the fastest-selling condominium projects in the last decade. In February when sales were first announced, the units were at 80% sold.
PMG also announced in early June that they were also accepting cryptocurrency for the units. We are unsure of the total number of units that were purchased with the digital currency.
Construction plans were officially submitted on Wednesday, October 13, 2021. The plans include the demolition permit for site clearing and those are now under review. There is currently no pending or submitted construction permit.
The demolition contractor is listed as John Moriarty & Associated. The developer includes Property Markets Group (PMG) and E11EVEN Partners. Sieger Suarez Architects is responsible for the tower design. Interiors will be curated by AvroKO Hospitality Group.
The residences are fully finished and fully furnished starting at $300,000 and the floor plans consist of studio to 2 bedrooms. There is also a limited Penthouse Collection and 2 Presidential Suites.
Building Features
E11EVEN® app for concierge services and building amenities
Common areas featuring museum-quality curated fine art and installations
Limited Penthouse Collection and two Presidential Suites
Views of the Miami skyline, Biscayne Bay and the Atlantic Ocean
Club E11EVEN® Bar & Lounge
5-Star gourmet food hall
Casino-Style Sports Lounge
Chopra Spa & Studio mind & body experiences featuring a state-of-the-art fitness center, meditation, yoga, and customized treatment services
20,000 Square-foot, ultra-modern multi-level E11EVEN® Day Club and pool sits above 11 stories, overseeing the stunning Miami skyline
E11EVEN’s® rooftop experience is a unique 24/11 poolside venue featuring its own signature dining experience
E11EVEN® Beach Club
Complimentary 24-hour valet
Residence Features
9’6 – 10’ floor-to-ceiling windows varies by floor with stunning Miami skyline and Biscayne Bay views
Smart home technology experience. Includes integrated audio, video, and lighting systems
Contemporary lighting package
All residences include LED (or water-based) fireplace in every living room
Fully built-out closets in the master bedrooms
Washer and dryer
French balconies in select residences
Pre-wired for high-speed communications, multiple telephone lines, and cable
All residences include a signature Home Essentials Package: silverware, glassware, linens, sheets, towels
11 Resident Membership Package featuring an exclusive beach club, day pool, and ultra club access
Kitchens with custom countertops and backsplashes
Imported and custom kitchen and bathroom cabinetry by Italkraft
Subzero and Wolf appliance package includes microwave, dishwasher, convection oven, and refrigerator
Waterworks bathroom fixtures, features & accessories
Frameless glass-enclosed showers
If you or someone you know have an interest in purchasing one of the units at E11EVEN Hotel & Residences, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Echo Brickell Penthouse with Indoor Pool Lists for $39.5 Million
There are many condos that have truly taken our breath away over the years but this one has left us absolutely stunned. From its 28 foot ceilings, all the way to its 360-degree water views to its indoor pool, we can’t stop drooling over this penthouse that just hit the market at Echo Brickell.
Located at 1451 Brickell Ave, Miami, this duplex penthouse has everything you need and more. Listed at a cool price of $39.5 million, the unit stretches 11,000 square feet over 2 floors, 56th and 57th.
The penthouse features 5 bedrooms and 7.5 bathrooms each with custom built-ins and magnificent views. The unit truly feels like a mansion with the bedrooms above and the main living areas below.
Amenities are in abundance in this ultra-luxury penthouse. The indoor sky pool is perfectly placed with floor-to-ceiling folding doors for the natural weather exposure. The signature staircase unfolds to a unique green foliage wall accenting the marble and glass throughout.
The custom kitchen opens to living space that is a designer’s dream. The grand suite features two dual baths, designer closets, and a midnight bar. All of the bathrooms are custom-crafted marble pieces.
This unit features 6 parking spaces, 4 elevators, an office, staff quarters, and a full wellness package with a sauna and fitness room.
Echo Brickell is a 180 unit residential tower that rises 57 stories located directly in the middle of Miami’s Financial District. Echo was designed by Carlos Ott and developed by PMG and JDS Development Group. The interiors were completed by Yoo Studio. The floor plans range from 1 to 4 bedroom options with penthouses also available. The unique thing about Echo is that it features 180 different floor plans.
Echo Brickell Amenities
Vanishing-edge pool and deck with panoramic views of Biscayne Bay, Downtown Miami, and Miami Beach
2,800 square foot, state-of-the-art fitness center and spa overlooking pool, bay, and city
Resort-style poolside food and beverage service
Two hot tubs with sunbathing deck overlooking the Brickell skyline
Full-service concierge services
If you or someone you know have an interest in purchasing one of the units at Echo Brickell or any information regarding Penthouse 01, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
New Tower-Ambienta Coral Way Receives Official Design Approval
On Wednesday, Ambienta Coral Way received official design approval to begin the $20 million condominium project. Ambienta Executive Vice President Carlos Balart met with Miami’s Urban Design Review Board to discuss the design and construction approval.
Ambienta Coral Way will rise 8 stories on the corner of Coral Way and Southwest 31st Road, just steps from local restaurants, nightlife, and shopping. This development will also include two retail spaces including a restaurant.
Ambienta Developers, a Chile-based development company, is responsible for Ambienta and Revuelta Architecture International is behind the design. Revuelta is also responsible for the designs of Brickell Flatrion and Santa Maria. This is Ambienta Developer’s second project, with their first being Ambienta Bay Harbor in Bay Harbor Islands.
The 79 unit tower will feature floorplans ranging from 1 to 3 bedrooms with 600 to 1,200 square feet of living space. One and two bathroom options are available. Pricing for Ambienta Coral Way will start at $390,000 and continue to increase based on floor plans and finishes.
Development Amenities:
Gym
Party Room
Pool with cabanas
Outdoor kitchen
Kitchen facilities
Waterfront spa
Sauna
Picnic Area
Club Room
Valet
Deeded Beach Access
This development will replace two existing apartment buildings. Pre-sales are anticipated to begin later this year, with construction beginning in early 2022. Construction is expected to be completed by late 2024. If you or someone you know have an interest in purchasing at Ambienta Coral Way, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Aria Reserve-Tallest Waterfront Twin Towers in the United States are Coming to Miami
I am sure you have heard of the Aria Reserve Towers Miami, and if you haven’t, keep reading. It will truly be the most unique and luxurious towers to grace the Miami coastline. With its modern yet sultry design set directly on Biscayne Bay, it will truly feel like you are living on a resort!
Located at 711 Northeast 23rd Terrace, Miami’s most coveted area in the Edgewater neighborhood, Aria residents will be able to enjoy Miami’s pristine beaches, Miami Beach nightlife, and the Design District’s shopping. This project is being developed by the Melo Group and designed by Bernardo Fort-Brescia of Arquitectonica with interiors designed by MORADA.
Aria Reserve will be the tallest waterfront twin residential towers in the United States rising 62 stories high. Sited on a 5.2-acre development with 547 linear feet of water frontage, it will offer unparalleled amenities. Melo Group also plans to build a public park from Aria connecting to the Miami Baywalk. The development site was previously known as Island Bay.
The Melo Group has recently launched sales for 321 units in the south tower of Aria. With roughly 800 units between the two towers, pricing for Aria Reserve’s first building will start at $750,000. There are 15 penthouses available starting at $12 million. Units will feature 1 to 4 bedroom floor plans with 1,100 square feet to 2,600 square feet of living space. The penthouses will range from 3,500 square feet to 9,000+ square feet, each including a 3-car garage. Sales for the second tower will be launched based on market demand.
Tower Amenities:
2-acre recreation deck
Lap pool and spa
Gaming center
Playground
Tennis courts
Basketball courts
Paddle courts
Miniature golf course
Wellness center
Gym
Meditation Garden
Residence Features
Unobstructed views of Biscayne Bay and Ocean
Finished residences with two flooring options
All residences include 2 high-speed elevators
All residences include an office/media room
All residences are sunrise-sunset flow-through from East to West
3-month seasonal rentals allowed up to 4 times per year
Construction of Aria Reserve south tower should begin in the spring of 2022 with an anticipated completion date of 2024. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Developers for Residences by Armani Casa Report $1 Billion Sellout
Residences by Armani/Casa has set a new record for condo sales in Sunny Isles Beach. With nearly $1 billion in sales, Residences by Armani/Casa has nearly sold out of the luxury condos, which is significantly more than any other new construction tower in Sunny Isles Beach.
Located at 18975 Collins Avenue in Sunny Isles Beach, this 60-story project was completed in late 2019 just before the COVID pandemic shut down travel and events, which also delayed some of the sales/closings for the new development.
According to the President of Dezer Development (Developer for Residences by Armani/Casa), the building was 85% sold when they first started sales in February 2020 but sales got stagnant and the development was selling around 1 unit a month during the pandemic. The sales began to increase once Florida started to open up.
More recently, two penthouses sold in this tower with one at $7 million and the other at $9 million. Among the buyers include Radamel Falcao (Colombian professional soccer player).
About the Residences of Armani/Casa
The Related Group and Dezer Development are responsible for the creation of Residences by Armani/Casa. The project was completed in 2019 and the property was originally purchased in 2016 for a $305 million construction loan from Wells Fargo, which was reported to already be paid off.
This development features 308 luxury condo units with 2,716 to 3,748 square feet of living space. Pricing starts at $1million with 3 to 4 bedroom floor plan options. Residence amenities include Wolf kitchen appliances, Armani-designed sinks, 10 feet deep private balconies, and much more!
Residence Features
Armani Dada designed and fabricated cabinetry
Sub-Zero refrigerator/freezer and wine cooler
Elegant imported stone countertops and glass backsplashes
Wolf kitchen appliances
Armani Roca designed sinks and faucets
His and her bathrooms in select residences
Spa-inspired shower with Armani Roca wall-mounted handheld spray and large rainshower in most residences
Marble stone floors, walls, and full stone cladding vanity and stone countertops
High-performance Toto Neorest toilet with integrated bidet technology in the master bath only
Private high-speed elevator access to most residences
Breathtaking views of the Atlantic Ocean and city through floor-to-ceiling glass windows
10-foot deep private balconies with glass railings in all residences
8-foot-high double-door entry to a spacious foyer in select units
Summer kitchen with an under-counter Sub-Zero refrigerator in all residences
Digital thermostat featuring intelligent climate control
Recessed lighting in select corridors and bathrooms
Large capacity full-size washer/dryer in all residences
All residences pre-wired for audio speakers as well as motorized shades and programmed lighting controls in select locations
Smart building technology provides seamless access to select building amenities
Tower Amenities
Oceanfront terrace with heated swimming pool, hot tub, and poolside food and beverage service
State-of-the-art fitness center overlooking the Atlantic Ocean
Men’s and women’s dressing rooms with lockers and showers
Private oceanfront restaurant and bar with outdoor seating and in-residence delivery
Exclusive beach amenities, including food and beverage services, chaise lounges, umbrellas, and beach attendants
Two-story Spa with indoor and outdoor treatment rooms
Ocean-view yoga studio with Pilates equipment
Cigar room
Temperature- and humidity-controlled wine cellar
Bar area
Game room with pool table
Children’s playroom
Armani Prive lounge at the lobby level
24-hour multilingual concierge service
24-hour valet parking service
24-hour security
Professionally curated collection of museum-quality art, including monumental sculptures by Sandro Chia and Sinisa Kukec
There are just a few units left at Residences by Armani/Casa. If you or someone you know have an interest in purchasing one of the units, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
PMG will be the First Developer to Accept Cryptocurrency on Pre-Construction Tower – E11EVEN Hotel & Residences
Following the wake of the Bitcoin 2021 Conference, cryptocurrency has made a name in Miami and continues to grow throughout the country. Adding to the long list of companies accepting cryptocurrency, you can now add PMG Development. PMG will be the first developer to accept cryptocurrency for deposits on pre-construction condos.
In April 2021, E11EVEN Miami nightclub began accepting crypto but now E11EVEN Hotel & Residences is the first major development that PMG is accepting the digital currency.
E11EVEN Hotel & Residences is a luxury high-rise in the Park West District of Miami, and is considered one of the fastest-selling condominium projects in the last decade. It has gained national and international attention with Candance Park of the WNBA, Sage Steele of ESPN, and Luke Rockhold a MMA fighter have expressing interest in the development.
The residences are fully-finished and fully furnished starting at $300,000 and the floor plans consist of studio to 2 bedrooms. There is also a limited Penthouse Collection and 2 Presidential Suites.
Construction Information
Co-developed by Property Markets Group (PMG) and E11EVEN Partners
Sieger Suarez Architects
Interiors curated by AvroKO Hospitality Group
Building Features
E11EVEN® app fore concierge services and building amenities
Common areas featuring museum-quality curated fine art and installations
Limited Penthouse Collection and two Presidential Suites
Views of the Miami skyline, Biscayne Bay and Atlantic Ocean
Club E11EVEN® Bar & Lounge
5-Star gourmet food hall
Casino-Style Sports Lounge
Chopra Spa & Studio mind & body experiences featuring state-of-the-art fitness center, meditation, yoga, and customized treatment services
20,000 Square-foot, ultra-modern multi-level E11EVEN® Day Club and pool sits above 11 stories, overseeing the stunning Miami skyline
E11EVEN’s® rooftop experience is a unique 24/11 poolside venue featuring its own signature dining experience
E11EVEN® Beach Club
Complimentary 24-hour valet
Residence Features
9’6 – 10’ floor-to-ceiling windows varies by floor with stunning Miami skyline and Biscayne Bay views
Smart home technology experience. Includes integrated audio, video and lighting systems
Contemporary lighting package
All residences include LED (or water-based) fireplace in every living room
Fully built-out closets in the master bedrooms
Washer and dryer
French balconies in select residences
Pre-wired for high-speed communications, multiple telephone lines, and cable
All residences include a signature Home Essentials Package: silverware, glassware, linens, sheets, towels
11 Resident Membership Package featuring exclusive beach club, day pool and ultra club access
Kitchens with custom countertops and backsplashes
Imported and custom kitchen and bathroom cabinetry by Italkraft
Subzero and Wolf appliance package includes microwave, dishwasher, convection oven and refrigerator
Waterworks bathroom fixtures, features & accessories
Frameless glass-enclosed showers
This project will break ground later this year. If you or someone you know have interest in purchasing one of the units at E11EVEN Hotel & Residences, or any information on the cryptocurrency process, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Legacy Hotel & Residences Sells out at 100% at Pre-Construction
Legacy Miami Worldcenter also known as Legacy Hotel & Residences is one of the newest pre-construction residential towers located in Park West Miami. This luxury tower will rise 668 feet tall with 50 stories. This tower has officially sold out before the groundbreaking. According to the South Florida Construction Journal, this is the first development in downtown Miami to sell out prior to construction.
Centrally located at 942 NE 1st Avenue in the heart of the Miami Worldcenter ‘mega-development.’ This mixed-use project will feature 287 residences, 262, luxury hotel rooms, restaurants, business center, medical office, retail, and a rooftop atrium with multiple amenities. It will also be considered the second tallest tower at Miami Worldcenter.
The residences will consist of studios, one-bedroom, and two-bedroom floor plans ranging from 368 to 964 interior square feet. Developed by Royal Palm Companies with Kobi Karp as the architect and ID & Design International designing the interior space. This tower will feature state-of-the-art living without any rental restrictions. This allows homeowners to rent their units on a short-term basis through AriBnB, VRBO, or through Legacy’s rental program. The residences at Legacy Hotel & Residences will come fully furnished.
The sold units include a total of 310 with a combined value of $160 million. The average prices ranged between $350,000 to $2+ million. There are 8 penthouses remaining are subject to use for the hotel portion of the project.
RPC is currently closing on their construction loan and expects to announce that milestone soon. Construction permits are pending and site pre-work is estimated to begin the end of May and/or beginning of June 2021. Legacy Hotel & Residences is expected to be completed in 2024.
