Shoma Group Buys North Bay Village Land for $15.78 Million for a Proposed Mixed-Use Project- Shoma Bay
Shoma Group, led by CEO Masoud Shojaee has recently purchased a 1.79 acre lot in North Bay Village. The development group purchased the land through two separate deals for a total of $15.78 million.
The lot located at 1850 79th Street Causeway sold for $8.38 million while the lot with a current retail building at 1872 79th Street Causeway sold for $7.4 million. Both properties were purchased with a mortgage through North Bay Finance & Investments.
The plans for the ‘Shoma Bay’ development were presented and approved by the North Bay Village in March 2021. The mixed-use development will house a 19-story tower that will include 333 residential units, 36,068 square foot approved Publix grocery store, 6,315 square feet of retail, and a 666 garage spaces. Ten of the spaces will be dedicated to electric charging vehicles, and the garage will be located on top of the Publix.
The amenities will include a pool, bowling alley, complimentary snack station, wework café, clubroom, and more to be determined.
MSA Architects are the lead designers on this project. MSA have also designed the Waverly at Surfside, Porto Bellagio, and the Marriott Miami Beach.
New Construction Tower-Ambienta Bay Harbor Islands Plans Ground Breaking for June 2021
Ambienta Bay Harbor Islands is one of the newest condo developments in Bay Harbor Islands. Located at 9901 West Bay Harbor Drive, this 7 story and 30-unit building will feature quality craftsmanship, high-end materials, and flawless finishes that is truly awe-inspiring.
Although limited to 30 units, this tower will showcase two bedroom + den to three bedroom units ranging from 1,229 to 1,662 square feel. Upon entering the building, you will be greeted with a double-height lobby, glass façade throughout, and gorgeous gardens with tropical plants. Each unit will includes its own two parking spaces and a storage unit. The prices for these units will range from $761,000 to $1.2 million.
Construction Information:
Developer: Ambienta Developers
Architect: Revuelta Architecture International
Landscape Design: David J. Odishoo
Interior Design: Bea Interiors Design
Building Features:
360-degree Rooftop Oasis for outdoor enjoyment
Infinity-edge swimming pool
Outdoor yoga/meditation space
Children’s play area
Fully outfitted Fitness Center with cardio and weight training equipment
Resident’s social room with bar, large-screen televisions, and lounge seating perfect for events or meetings of any kind
Impressive double-height lobby with reception seating
Residence Amenities:
Two covered parking spaces per residence
Corner residences offer wrap-around terraces
High impact floor-to-ceiling sliding glass doors and windows
All bedrooms have access to expansive balconies
Walk-in closets in master bedrooms
Master bathroom with double sink, glass shower enclosure with rainfall shower head and hand shower
Expansive glass-framed outdoor terraces accessible from bedrooms and living areas
Italian kitchens with custom quartz counter tops and Italkraft® cabinetry
Bosch® appliance suite includes induction cooktop, built-in stainless steel French door refrigerator, convection oven, microwave oven, and dishwasher
Private storage available on same level as residence
Bluetooth® enabled keyless entry system with camera technology
Sales have already started on this development and it is expected to break ground in June with a top-off date of July 2022. Closings are set to begin in spring of 2023.
Oko Group Obtains $128 Million Loan to Finish Construction on Una Residences
Oko Group and Cain International, developers for Una Residences, have just obtained a loan of $128 million to complete the construction. As of April 2021, $76 million in pre-sales have been recorded with a majority of domestic buyers. The tower is at 72% sold with 2 exclusive penthouse residences left for purchase in the tower.
The loan was brokered by Walker & Dunlop with representing law firms Weil Gotshal & Manges and King & Spaulding.
According to the CEO of Oko Group, Vlad Doronin stated, “Miami’s increasing global appeal is drawing families to live and businesses to invest in high quality real estate, particularly rare and exclusive offerings such as Una Residences; one of the last opportunities to buy a waterfront property in one of Miami’s most desirable neighborhoods.”
This tower will feature 47 stories of 135 units located at 175 S.E. 25th Road on 1.04 acres right up against Biscayne Bay.
BUILDING FEATURES
135 luxury condominium residences
Iconic 45-story waterfront condominium
2 to 5 bedroom residences ranging from 1,100 to 4,786 sq ft
Unobstructed views of the Atlantic Ocean, Biscayne Bay, and the city skyline
High-efficiency and noise-reducing floor-to-ceiling exterior glass
Three levels of underground parking
RESIDENCE FEATURES
Private elevator entries into each residence
Expansive terraces with effortless “lift-and-glide” floor-to-ceiling doors and glass balcony railings
10’8″ ceiling heights, above Miami standard
Chef’s kitchens with Gaggenau ovens, electric induction cook tops, microwaves, dishwashers, and refrigerators/freezers
Master suites with separate his and hers closets and bathrooms
Utility rooms with full-sized washers and dryers
Flow-through residences with east-to-west ocean and city exposures on the top floors
Two penthouses, each with a private pool and 11’7″ to 12’4″ ceilings
AMENITIES
Bayfront pool
Outdoor lap pool
Family pool
Jacuzzi
Catering kitchen
Kids’ splash-pad area
Owners’ lounge
Private dining/party room
Movie theater
Kids’ playroom
Outdoor lounge
Baywalk access
State-of-the-art fitness center, with yoga and personal training areas, plus his and hers dressing rooms
Private marina
Spa with steam room and sauna, as well as indoor and outdoor private massage treatment rooms overlooking the bay
Dedicated beauty suite for private hair styling, manicure and pedicure appointments
Beautifully landscaped outdoor terraces
Dog-walk area
Private air-conditioned storage areas
SERVICES
24-hour concierge service
Combination of valet service and self-parking
Package room
The ground breaking was in May 2020 and the 47-story tower is expected to be complete in 2023. For a construction update, click here.
Is Cryptocurrency Changing the Miami Real Estate Market?
With the Miami real estate market so hot right, it is of no surprise that offers are becoming more and more creative. We are seeing contingencies and appraisals being dropped to create a competitive edge for buyers. These aren’t the only items of change! In the MLS (multiple listing service), we are seeing an option for sellers to decided if they will accept cryptocurrency in their offer.
Cryptocurrency is a digital asset used to purchase goods and services. It has made headway in the past few years and it continues to gain popularity. In Miami we are seeing nightclubs, retail shops, and airlines accepting this form of payment. More retail stores are beginning to accept it like Overstock.com, Microsoft, and Home Depot, to name a few.
According to The Real Deal, South Florida is seeing a large number of Financial Managers and Tech-Savvy Entrepreneurs from Silicon Valley and New York using crypto in their real estate offers.
Vice President of Portfolio Development for Idoneus, Tim O’Leary handles a Swiss payment token (native cryptocurrency), which he has seen included in real estate offers more recently. O’Leary stated, “Idoneus has been utilized as a method of payment to acquire properties in Alaska, to Florida, to the Caribbean.”
There are a few different cryptocurrencies currently out and the most popular is Bitcoin. With how mainstream Bitcoin has become, crypto is becoming a common occurrence but there is still much hesitation. Since crypto leaves no paper trail, there is a lot of skepticism.
One of the biggest perks is that it can allow for cheaper and faster transactions, which is huge for the current real estate market.
The Future is Here – Miami Sees Its First Delivery Robots
Cartken, a robotics startup, has recently partnered with REEF Technology to introduce self-driving delivery robots to Downtown Miami. REEF Technology currently offers fulfillment solutions, neighborhood kitchen deliveries, and parking solutions.
Founders of Cartken include ex-Google engineers, and have been developing this type of delivery service since 2019. This will be Carken’s first major introduction of self-driving robots in Miami.
While only operating within a 3/4 mile radius of downtown Miami, Cartken has been testing their electric-powered robots fulfilling orders from delivery-only kitchens. These robots are operating on the REEF’s network, are insulated, and can maintain heat for hot meals. Cartken already has designated logistics hubs and can be dispatched to restaurants while the food is being prepared.
Matt Lindenberger, REEF’s Chief Technology Officer stated, “We want to show how future-forward Miami can be. This is a great chance to show off the capabilities of the tech.”
There are currently only two restaurants utilizing Cartken in Miami with a large potential for expansion in other neighborhoods.
The robots are powered by rules-based programming and can actually stop and ask for help if necessary. Lindenberger stated, “The robot is seeing the environment, planning around obstacles like pedestrians or lampposts. If there’s an unknown situation, someone can help the robot out safely because it can stop on a dime.”
According to TechCrunch, the robots can only make it to street-level, where the customer has to come outside to pick up their food. Apartment complexes and units would be more difficult for the robot to navigate.
We will be following this story closely and will update as we learn more and as more restaurants begin using Cartken!
Grab Something Green and Celebrate St. Patrick’s Day in Miami – 2021
St. Patrick’s Day may be a little different for many this year but there are restaurants and bars in Miami that are still celebrating. Check out the list below for drink specials, bands, and all things green!
The Taurus: Drink specials with St. Patrick’s Day-themed cocktails for $8, Guinness for $5, and Irish whiskey for $5. These specials are from 5pm until midnight.
Tobacco Road: Living Music and drink specials include $5 Green Pabst Blue Ribbon, $6 Irish coffees, $7 Irish Car Bombs and $5 Irish whiskey.
The Wharf: Tonight features live music and games! Food by Spris Artisan Pizza, La Santa Taqueria, and Mojo Donuts! Free Guinness every time you buy a shot of Jameson.
Calle 23 Miami: Beer and Irish whiskey shot specials at $10 each, Guinness for $7 and Irish Mules for $10.
Swarm in Wynwood: This festive street party is free and features live DJ, drink specials and games!
Sunset Skyline Happy Hour Cruise: Departing from Biscayne Bay, this 90 minute happy hour cruise takes you past Star Island, Hibiscus Island, Palm Island, Fischer Island plus the famous Venetian Islands, all while drinking green beer!
Take a Look Inside Miami’s Most Exclusive and Expensive Penthouse For Sale at The Estates of Acqualina for $59 Million
Welcome to the Palazzo Di Paradiso in the Boutique Tower at The Estates at Acqualina! Listed at $59 Million, this unique penthouse features over 17,000 square feet of flawless architecture, remarkable 360-degree water views, and 2,500 square feet of outdoor living space. It is the most expensive penthouse/condo for sale in all of South Florida by $20 million.
This two-story penthouse boasts up to 9 bedrooms, 10.5 bathrooms, and 21-foot-high ceilings throughout, and a private 4-car air-conditioned garage. The 2 private pools, one cantilevered over 600 feet of sand. The guest suite features 1 bedroom with a full-kitchen perfect for guests!
This is truly a unique and rare listing because it is entirely customizable and full furnished by Fendi, Baccarat, Bugatti, and Trussardi.
Not only is the penthouse unique but the building amenities are exclusive and cutting-edge!
Building Amenities:
Ice-skating rink
Golf simulator
Wall Street Trader’s Clubroom
Cigar Lounge & Billiards room
Teen game area
AcquaFit Fitness & Wellness Center
Wine Room
Private poolside cabanas
Bocce court
Basketball Court
Sculptured art gardens
Outdoor pool table
Meditation areas
Bowling alley with 4 lanes
Formula One racing simulator
Movie-screening theater
Children’s play area
Relaxation lounge
Speakeasy Disco
Zero-entry, infinity-edge and adults-only pools
FlowRider® surfing simulator
Soccer field
Walking and jogging trails
Dog park
Gazebos
In the Boutique Tower, there are also 4 restaurants:
Avra
IL Mulino
Costa Gril
Ke-uH
According to Michael Goldstein, President of Sales, explains, “Our aim was to make this a total turnkey, effortlessly elegant home, and save the buyer a year of decorating.”
Heineken Opens Cervecería La Tropical Brewery in Miami’s Wynwood Arts District
Photo Credit: Cerveceria La Tropical
The new Miami brewery Cervecería La Tropical, named after the historic Cuban brewery, Cervecería, was first opened in 1888 in Havana but was seized by the Cuban government in the 1960’s. Located at 42 N.E. 25th Street in the Wynwood Arts District, this brewery will feature an on-site brewing operation with tour, taproom, restaurant, and outdoor botanical garden.
This state of the art brewery has an annual brewing capacity of 32,000 hectoliters per year and can house up to 800 craft beers. According to Brewbound, the brewery will be led by Brew Master Matt Weintraub, who is a graduate and award winner of the Florida International University Brewing Program.
According to the South Florida Business Journal, Cervecería occupies 28,000 square feet, which includes a Latin and Caribbean cuisine restaurant from Chef Cindy Hutson, owner of Zest Miami. It can seat 800 guests and a 10,000 square foot botanical garden, with additional outdoor seating.
Their menu will include 20 handcrafted beers ranging from lagers, IPAs, sours, barrel-aged, and ales infused with local ingredients. They will feature their La Original Ambar Lager, which is inspired by the original recipe from 1888.
“More than a century after La Tropical was originally founded, I am proud and excited to be creating a new cerveza, food and cultural destination that unites La Tropical’s Cuban soul with Miami’s diverse and unique culture that has made the city the gateway of the Americas” states owner, Manny Portuondo.
Their grand opening is tonight, February 19th, 2021 at Cerveceria La Tropical, 42 NE 25th St. Wynwood, Miami, FL 33137 from 9:00pm to 11:00pm with live band Xperimento!
