Miami’s Urban Development Review Board voted last Wednesday on approval for Aria Reserve in Edgewater. Approval was received from Miami’s Planning Department and was key in beginning the first steps of the twin tower construction project.
Sales for Aria Reserve South tower began last month, and according to the developers, the Melo Group, condo sales are strong. With over 20% of the units already reserved, they are expecting an increase in sales.
Rising 60 stories at 627 feet, Aria Reserve features two towers and will be considered the tallest residential twin towers in the United States. Each tower will feature around 390 units and 1,608 parking spaces.
Units are starting at $750,000 and the 15 penthouses are starting at $12 million. Units will feature 1 to 4 bedroom floor plans with 1,100 to 2,600 square feet of living space. The penthouses will range from 3,500 to 9,000 square feet, each with a 3-car garage.
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
Based on market demand, the Melo Group with determine whether to begin sales for tower 2. 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.
District 225- Formerly Named The District-Have Officially Launched Sales
District 225 is an innovative pre-construction development that will soon grace the Miami skyline. What makes this project unique is its home-sharing capabilities as well as its resort-style amenities.
Located at 225 and 233 N. Miami Avenue in downtown Miami, this 37-story tower will feature 343 fully furnished units that cater to short-term renters. The site is near Miami-Dade College and the Federal courthouse. Just two blocks east is the Government Center transit station. There is currently a 15,000 square foot retail building located on the property but once demolished the construction will begin.
The Related Group, Rovr, and BH group are working together on District 225. Siegler Suarez Architects partnered with Meshberg Group will be responsible for the design.
Along with 343 units, District 225 will not have a parking garage. To alleviate some consumer hesitancy, residents will have close access to public transportation as well as nearby city garages where residents can rent spaces.
District 225 will total 288,400 square feet with studios to 2 bedroom floor plans. Studio pricing will begin around $350,000 up to $700,000 for the 2 bedroom floor-plans. There will also be 2,297 square feet of commercial space located on the main floor.
District 225 Amenities
Rooftop pool
Fitness center
Indoor/outdoor basketball court
Racquetball court
Rock-climbing wall
Yoga/spinning studio
Coworking spaces
Lounge with billiard tables
Summer kitchen
Residence Amenities
Views of Biscayne Bay and Miami skyline
Fully finished and furnished studios, one-, and two-bedroom residences
9.8-foot-high ceilings
Smart-home technology experience for seamless personalization with the touch of a button
Interiors designed by award-winning interior design firm Meshberg Design
Fully built-out closets in all residences curated by Meshberg Design
Includes integrated audio, video, window treatment, and lighting systems
Equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
Built-in, top-of-the-line washer and dryer
Flooring selections included with specifications recommended by Meshberg Design
Pre-wired for high-speed communications and data connection
Kitchens featuring custom Italian cabinetry curated by Meshberg Design
Smeg appliance package including an integrated, paneled microwave; dishwasher; built-in convection oven; and refrigerator/freezer
Master baths featuring rainfall showerhead and custom Italian vanities
Dornbracht and Duravit bathroom fixtures, features, and accessories
If you or someone you know have an interest in purchasing at District 225, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
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 Begins on Modera Skyler Phase II in Downtown Miami
Modera Skylar Phase II is a new development located in the River district of downtown Miami. Situated just north of the Miami River, this 21-story tower will feature 97 units with panoramic views of the city.
This project is being developed alongside the original Modera Skylar (which was recently remodeled), developed by Mill Creek Residential.
Located at 1444 NW 14TH Avenue, Miami FL 33125, Modera Skylar residents will have the option of 1 to 3 bedroom floorplans with den options. Floor plans range from 805-1,146 square foot options with pricing at $2,185 to $2,668 monthly.
Modera Skylar is conveniently located near restaurants and shopping with multiple commuter options available. Amenities of Phase II are similar to that of the original Modera but phase II will feature a 2-story amenity center with a resident loft. A dog park, controlled access parking, and dry-cleaning services will be the newest addition to Modera Skyler.
Modera Unit Amenities
Redesigned kitchens with stainless steel appliances, quartz counters, and tile backsplash
Vinyl plank flooring throughout the entire home
LED Light Fixtures
New sink and faucet features
Solar shades in every room
Private balcony
In-home washer and dryer
9-foot ceilings
Pantry
Ceramic tile flooring
Generous closet space
Glass top stove
Breakfast bars
Linen closet
Two full baths
Walk-in shower
Wrap-around balconies
Views of weekly fireworks show at Marlins Park
*Select homes
Modera Building Amenities
Redesigned rooftop pool and sundeck
Poolside lounge seating with cabanas and daybeds
Soothing rooftop hot tub
Reimagined outdoor entertainment area with grills and lounge seating
Outdoor lawn with lounge seating and cornhole
New GymRax outdoor fitness system
24-hour fitness center
Chic resident clubhouse with lounge seating and TVs
Entertainment kitchen in the clubroom
Coffee bar
WiFi lounge
Stunning sunset views from the rooftop
Unobstructed views of Downtown Miami and Marlins Stadium
Dog – and cat-friendly
Ample parking
Reserved covered parking
Online rent payments and service requests
Elevator access
Controlled access entry
Easy access to public transportation
Located in the Health District near the University of Miami School of Medicine
Convenient Downtown location
Minutes from Wynwood Arts District, great restaurants, shopping, and more
Construction for Modera Skyler Phase II is anticipated to be completed by September 2022.
End of June Condo Sales Reach $259 Million
Another week of real estate sales shows a significant increase in volume and the total number of condos sold for Miami-Dade. According to the MLS, for the week of June 27th, through July 3rd, 357 condos sold for a combined $259 million. The previous week shows only 237 condos sold for a combined value of $159 million.
The average sales price for condos is $725,000. Last week’s price fell to $671,000. We are seeing a steady climb in condo price averages as well as an uptick in new construction sales.
The most expensive sale last week was non-other than a penthouse at The Mansions of Acqualina in Sunny Isles Beach that sold for $27 million. This 9,103 square foot condo features four bedrooms, 6.5 bathrooms, and 2 kitchens, also fully furnished by Fendi/Bentley. This developer-owned (The Trump Group) condo sold for $3,000 price per square foot. This sale is considered the third-highest condo sale in Miami-Dade history.
The second most expensive condo sale was at Continuum of South Beach. This unit sold for $8.6 million at a $2,459 price per square foot. This property was on the market for 108 days. This condo features 3 bedrooms, 3.5 bathrooms, with 3,500 square feet of living space. The property also features an Italian kitchen, marble floors throughout, and gorgeous ocean views.
One of the more notable single-family residential sales includes an Indian Creek Island Mansion purchased by a developer, Todd Michael Glaser for $24 million. This property located at 37 Indian Creek features 7,236 square feet of living space situated on 1.2 acres. Glaser plans to demolish this estate to build a larger home with 2 pools and double the square footage with hopes to list the new construction home at $50 million.
Developer Todd Micheal Glaser buys Indian Creek Waterfront Mansion for $24 Million
Photo Credit: Douglas Elliman
Developer, Todd Michael Glaser is a Miami native and a well-known developer who has made a name for himself with projects like 1000 Museum. Most recently, Glaser and his partners purchased an Indian Creek mansion for $23.8 million. The property was originally listed in October 2020 for $20 million and taken off the market in March 2021.
The Indian Creek waterfront mansion is located at 37 Indian Creek Road featuring 7,236 square feet of living space set on 1.2 acres. This 3 bedroom, 4 bathroom estate boasts an expansive brick driveway leading to a Mediterranean-style home. The large pool overlooks Biscayne Bay with a 20-foot boat dock.
Photo Credit: Douglas Elliman
The seller of the home was Don Francisco, host of ‘Sábado Gigante’ a Spanish language variety show that showcased musicians and comedians. He hosted the show for 53 years ending in 2015 and returned to TV with a new show “Don Francisco Te Invita.” Francisco originally purchased the property in 1993 for $2.6 million and has made several updates throughout the years.
Photo Credit: Douglas Elliman
Glaser and his partners plan on demolishing the home to build a mansion double the size and double the value. With the help of architect Kobi Karp, this new estate will be one of a kind. It will feature 2 pools and with plans on being listed around $50 million. The anticipated completion for construction is set for December 2021.
Indian Creek Island is a gated island north of Miami Beach. It has its own police force that patrols 24 hours a day. Billionaires are known to call this place home because of the security and exclusiveness it offers.
Notables like Ivanka Trump and Jared Kushner as well as Hotels.com co-founder Bob Diener own properties on the island. Last year alone, Tom Brady and his wife, Gisele Bundchen purchased a lot for $17 million, where they plan on building a new estate.
There is only one property currently on the market on Indian Creek Island. The property located at 29 Indian Creek Drive is listed for rent at $100,000 monthly and features 4 bedrooms, 4.5 bathrooms with gorgeous southern exposure of Biscayne Bay. For more information on this property or about Indian Creek Island, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Maple & Ash Steakhouse will Open at Miami Worldcenter
Photo Credit: Miami Worldcenter Associates
Miami Worldcenter leases its first restaurant, Maple & Ash Steakhouse at the block H retail building. This building, located between 7th Street and 1st Avenue Northeast. Maple & Ash will allocate 15,000 square feet of space on the ground floor of the building.
Former Michelin-starred chef Danny Grant and Michael Beltran are the creators behind the Chicago-based steakhouse. The rent for restaurant space is asking $100 per square foot.
Maple & Ash offers an eclectic menu featuring seafood towers, Waygu beef, Filet Mignon, and raw bar options. The menu will resemble Maple & Ash’s Chicago counterpart.
horseradish, cocktail sauce & champagne mignonetteWild Blue Prawn Shrimp Cocktail
cocktail sauce, drawn butter & aioli
Beef Tenderloin Steak Tartare
smoked egg yolk, white soy & grilled sourdough
Wagyu Beef Carpaccio
Entrees
Ricotta Agnolotti
(pillows of love) winter truffle
Roasted Skuna Bay Salmon
chanterelle, turnip & brown butter apples
Fire-Roasted Chicken
spring onion, potato purée & pan jus
Whole-Roasted Branzino
fennel capers & preserved lemon
I Don’t Give a F*@K
let Maple & Ash take care of you (per person$200.00)
Wood Fired Steaks & Seafood
Petit Filet Mignon 6oz
Filet Mignon 10oz
Bone-In Filet Mignon 16oz
Maple & Ash Surf & Turf
Butcher’s Reserve
The Eisenhower
40+oz porterhouse cooked directly in the coals
Slagel Farms Dry Aged Bone-In NY Strip18oz
45 Day Dry-Aged Tomahawk40oz
Miyazaki Wagyu
Michael Beltran will also be opening two additional restaurants including a Cuban-inspired bistro and a cigar bar. Their locations place them directly across the street from Maple & Ash. All restaurants are expected to open by Winter 2022.
Champlain Towers South Building Collapse- A Timeline of Events
Credit: MiamiCondoInvestments.com/1 OAK Studios
October 2018: Structural Engineering Report
In October 2018, a structural engineering report with Morabito Consultants notes in a nine-page report numerous problems and major structural damage at Champlain Towers. The report included that the structural concrete slab is flat instead of sloped, which causes water to pool (with the hope that the water evaporates) instead of draining off. The parking garage also showed significant cracking in concrete beams. The report states that failure to repair the damages could “cause the extent of the concrete deterioration to expand exponentially.”
November 2018: Champlain Towers Condo Association Board Meeting
After the initial engineering report was released, a Surfside official during a November 15, 2018 board meeting stated that the condo tower was in good condition. According to the minutes of this board meeting, “Structural engineer report was reviewed by Mr. Ross Prieto. It appears the building is in very good shape.” *Ross Prieto was an official for the town of Surfside but is no longer employed for the town.
Credit: MiamiCondoInvestments.com/1 OAK Studios
April 2021: A Letter to Residents
The President of the Condo Association board of directors sent out a letter to the residents of Champlain Towers South. The letter stated that the building had worsened since the original inspection in 2018, and that “the concrete deterioration is accelerating. Observable damage such as in the garage has gotten significantly worse since the initial inspection. When you can visually see the concrete spalling, that means that the rebar holding it together is rusting and deteriorating beneath the surface.” An estimate of $15 million special assessment was proposed to pay for the structural repairs.
June 24, 2021: The Collapse
Around 1:19 am, the condo tower starts to shake and partially collapses destroying around 55 units. Rescue crews immediately raced to the site to search for survivors. The same day, Florida Governor DeSantis declared a state of emergency for Miami-Dade County.
June 25, 2021: Emergency Declaration for Florida
President Biden approved an emergency declaration for Flordia that allowed FEMA (Federal Emergency Management Agency) to send federal resources to aid in the search and rescue efforts.
June 26, 2021: Residential Audits
Miami-Dade County Mayor Daniella Cava announced an audit on all properties that are 5+ stories high and at least 40 years old.
June 27, 2021: Search and Rescue
The search continues for those missing in the condo collapse. Miami Fire Search and Rescue are working around the clock to locate those missing. The process has been strategic because they have to assure the safety of the teams as well as limit any additional damage to the building that could cause further harm to survivors.
July 1, 2021: A Community in Mourning
As of today, the Surfside and Miami communities have been coming together with daily vigils to pray and mourn for those lost in the devastating condo collapse. Outside of the destruction, a fence with missing residents’ pictures hangs solemnly. Local restaurants have come together and are feeding the rescue and volunteer teams. Hotels are also housing residents of Champlain Towers. According to authorities, 18 people have died with 140 still missing. President Biden also visited the site to discuss the rescue efforts and to offer condolences to the community.
Future: A Change in Procedure
We do not know the exact cause of the condo collapse but we do know that an investigation into the destruction will take months to complete. With this collapse, we are already seeing a much-needed change in procedure, including the Mayor’s condominium audit memorandum now in place. It is also important that associations, engineers, and officials take the warnings more seriously in the future. And we’re hopeful that with new rules and regulations in place, a devastating event like this can be prevented in the future.
Credit: MiamiCondoInvestments.com/1 OAK Studios
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.
