Miami-Dade County and Miami Heat Cuts Naming Rights Ties with Cryptocurrency Exchange FTX for Miami Arena
Miami-Dade County and the NBA’s Miami Heat have ended their partnership with the insolvent cryptocurrency exchange FTX and are now looking for a new naming rights partner for their downtown Miami arena.
The statement followed the FTX group’s CEO resignation and bankruptcy filing in the US earlier on Friday, which marked the shocking demise of one of the biggest and most influential figures in the cryptocurrency business.
Miami-Dade County and Miami Heat stated in a joint statement on Friday night that they will cooperate to find a new naming rights partner for the stadium, which was only rebranded as FTX Arena last year, and that they find the reports concerning FTX to be “very upsetting.”
Like other cryptocurrency businesses, FTX has spent a lot of money sponsoring athletes. For the renaming of the Miami arena in June 2021, FTX reportedly signed a $135 million, 19-year contract. This deal would have also included $2 million annually to the Miami Heat.
A five-year agreement was also reached in 2021 for Major League Baseball to designate FTX as its official cryptocurrency exchange. FTX is also the Mercedes-AMG Petronas Formula One Team’s authorized
With the University of California, Berkeley negotiating a $17.5 million, 10-year naming rights arrangement for the school’s football stadium in 2021, even college sports have connections to FTX.
3 Tower Development Proposed at 3333 Biscayne Boulevard
According to a filing with the city planners, plans for a 3-tower mixed-use complex at 3333 Biscayne Boulevard in Edgewater have been made public.
The three towers themselves will be labeled as East, West, and North towers. The East tower is proposed to be a residential tower that will rise 41 stories tall with the North tower, also residential rising 40 stories tall. The West tower will be mainly a commercial tower with available office rental space rising 12 stories.
The development will also include 635 residential units spreading over the East and North towers which will also include 9 townhomes. There will also be 1,210 parking spaces throughout the 8-level garage. The office space will include 156,989 square feet and 19,180 square feet will be dedicated to the ground floor commercial spaces.
In a statement from the Developer, the three towers and a podium were developed by the project architect without overcrowding the space. An office tower on Biscayne Boulevard has a staggered design to wisely avoid reaching its full authorized height. To optimize separation and prevent crowding, the two residential buildings are set apart from one another at a diagonal angle. Nine ground-floor townhome units and a courtyard are positioned along the north and east facades of the project’s podium level, where they are intended to keep public spaces active.
The Applicant is happy to have generated an amazing design without the requirement for Waivers, Warrants, or Exceptions due to the Property’s enormous acreage and a private agreement among the owners of the united parcels to divide development rights among their sites.
A covenant in lieu of unity of title is being used in the proposal to use development rights from nearby properties that Aimco owns.
The architect is credited as Stantec. The developer had previously been identified as Beitel Group.
On November 16, there will be a hearing before the Urban Development Review Board.
Take a Look Inside the Design District’s Newest Italian Restaurant with a Pink Flair – Sofia
With the opening of Sofia in Miami’s Design District, the team behind Miami favorites Byblos and Amal has continued to grow throughout South Florida. The chic, predominantly pink restaurant is a Toronto import that offers fine Italian cuisine.
In close proximity to the recently Michelin-recognized Itamae, Sofia debuts a menu of both contemporary and classic Italian meals that are produced with a refined technique and seasonal ingredients to honor the true flavors of Italy. A variety of antipasti will be available, including Crudo, grilled octopus, citrus salads, and ricotta-stuffed zucchini.
For entrées, Sofia serves traditional handmade pasta dishes like rigatoni alla vodka and cacio e pepe al tartufo. Among the standouts from the carne mains are wagyu filets, breaded veal, and prime striploin, among others. The pesce area also includes branzino, aragosta (butter-poached crab), and gamberetti (wild king prawn).
Sofia’s Italy-inspired cocktails stress execution and graceful presentation, and its wine list includes a variety of vintages and difficult-to-find Italian wines, which are garnished with locally grown herbs. The restaurant’s flamingo-pink, Italian-glam indoor-outdoor settings was created by award-winning group Studio Munge, and they will be brought to life every night with DJs and live performances.
Sofia hopes to become Palm Court’s newest signature restaurant, according to INK founder and CEO Charles Khabouth, despite the fact that the Design District is already home to a number of upscale eateries, including well-known Italian restaurants like MC Kitchen and Palat and Pharrell’s ultra-trendy pastel wonderland Swan.
The Sofia restaurant will be open every day of the week starting at 5 p.m. breakfast and lunch service will start soon following the supper service, which will start now.
Setting records as Miami’s first “supertall” tower, the structure, will rise 1,049 feet and 100 floors above Biscayne Bay. This will be the tallest residential tower south of New York City.
In attendance were Ryan Shear, managing partner at PMG Development, Mohair Hospitality, Bamo Inc, Greybrook, and architect Carlos Ott.
Along with 205 guest rooms and suites, the Waldorf Astoria Hotel & Residences Miami will have 360 private residences. Nine glass cubes that resemble Jenga will be part of the tower itself.
The building’s design, which was overseen by Sieger Suarez Architects in association with renowned architect Carlos Ott and award-winning interior design firm BAMO, is incredibly distinctive and stands out even among the busy Miami beachfront.
According to the developers, 180-foot-deep foundation piles are now being built by drilling and concrete pouring. According to the developers, 180-foot-deep foundation piles are now being built by drilling and concrete pouring.
Work won’t be slowed down because a building permit to start the vertical work will likely be obtained in a few months, according to the developers.
The tower is expected to be finished in 2026.
If you or anyone you know has an interest in acquiring it, contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Updated Renderings Revealed for MG’s New Village of Coral Gables 48 Residence Tower
Prior to breaking ground and shortly after the official launch of its cutting-edge, on-site showroom, MG Developer unveiled updated renderings of the opulent interiors of The Village at Coral Gables new development.
The Village at Coral Gables, which offers 48 units spanning over four separate collections—Townhomes, Lofts, Villas, and Flats—is one of the most eagerly awaited development to enter Coral Gables’ market.
The style and size of the units varies, ranging from elegant flats with two bedrooms, a study, and a balcony to attractive townhomes with four bedrooms that are 1,750 to 3,100 square feet in size. The traditional yet contemporary village will also have smart recreational features for residents to enjoy, such as a Club House, Fitness Center, Business Center, and a Pool with a Pool House.
The Village at Coral Gables site is situated at 535 Santander Avenue and spread across 17 lots. By 2024, the $50 million development should be finished according to the developer.
The project’s carefully chosen interiors pay homage to Seville, Spain’s aesthetic elegance and way of life, and carry on the heritage of Coral Gables’ creator and dreamer, George Merrick, and his idea of “The City Beautiful.” Furniture was chosen from RH (Restoration Hardware), which has established its design dominance in the market for luxury lifestyle products.
The Mediterranean Revival-style design of The Village at Coral Gables will be modeled after the Ibero-American Exposition of 1929 in Seville’s Plaza de Espaa, which served as the neighborhood’s energetic hub and was ringed by gardens, courtyards, and magnificent fountains.
MG’s design team, lead by architect Maria De La Guardia of De La Guardia Victoria Architects & Urbanists, was inspired by Merrick’s seven towns and created ageless architecture that blends with the naturally lit houses, facilities, and common places.
The Village at Coral Gables is surrounded by lush, tree-lined streets that give the impression of being in the suburbs, but it is actually just a short stroll from Downtown Coral Gables, as well as being close to some of South Florida’s most prestigious golf courses, The Biltmore Hotel, popular tourist destinations, and top restaurants. The Village at Coral Gables is positioned to sell out rapidly because of all the amenities it offers, as well as its magnificent design and luxurious lifestyle.
MILA Miami Beach Expands Restaurant Space Unveiling a Member’s Only Club, Omakese, and Luxury Lounge
The Mediterranean and Japanese infused restaurant MILA Miami, is expanding its space with a second level at 7,900 square feet. The 2nd floor expansion will include the MM Club, MILA Omakase, and the MILA Lounge with other experiences that will be unveiled soon.
In the heart of Miami Beach, MILA is a magnificent space that perfectly combines an upgraded eating experience with cuisines that aim to take guests on a culinary journey through the shores of the Mediterranean and Japan while creating a creative expression of flavorful MediterrAsian cuisine. It is inspired by Asian and Mediterranean eating practices, both healthy and tasty, and embraces the importance of enjoying life.
Living by the motto “EUDAIMONIA,” which translates to “the contented, cheerful feeling you feel when you travel,” MILA symbolizes a multi-sensory gastronomic experience with unique Balearic music blends, delectable food, and a fun atmosphere to party the night away.
According to the CEO and Founder of Riviera Dining Group, Greg Galy, “We are thrilled to be expanding MILA, adding multiple new venues to our immersive and innovative space. The additional concepts provide the opportunity to lead the luxury and lifestyle industry in South Florida.”
For the select few who participate in Riviera Dining Group’s program, the ultra-private, members-only club known as The MM Club will offer a personal experience. Members will be welcomed into a dimly lit area that adds a luxurious touch to the traditional speakeasy and gives privacy to guests who want absolute discretion. Expertly prepared cocktails will be served at a sophisticated bar that is covered in warm, rust-colored carved marble.
Visitors at MILA Omakase will go on an unexpected culinary adventure. When visitors enter the confined space with the stunning omakase countertop and 10 seats, time stands still. French pipe organ maker and Guinness Book Award winner Matthieu Garnier constructed the countertop from a 300-year-old Red Camphor tree. In order to enhance the sensory experience, Garnier also constructed a 500-year-old hinoki wood cutting board (Japanese Cypress) for the area.
MILA is a part of the the Riviera Dining Group which was founded in 2021 with the original MILA South Beach location. Their main goal is to bring customers a innovative dining and gathering experience. This year, they have also opened AVA MediterrAegean in Winter Park, Florida and Casa Neos which is anticipated to open in this fall in Brickell.
Evenings continue at the MILA Lounge, where visitors can indulge in a luxurious and private nightlife experience. Light appetizers, creative mixology, and bottle service will be available to those eager to make an impression as they mingle and dance to music from leading industry DJs.
Riviera Dining Group is seeking 50–70 additional front- and back-of-house employees as it gets ready to open the restaurant’s expansion.
Miami International Auto Show Returns to Miami October 15-23, 2022
One of the biggest car shows in the country, the Miami International Auto Show, has revealed the dates for its nine-day event this year: October 15–23, 2022 at the Miami Beach Convention Center.
At this year’s auto show, more than 500 of the best cars, trucks, SUVs, and motorcycles will be on display. Over 700,000 guests from all over the world are anticipated for this year’s event.
The South Florida Automobile Dealers Association has been the show’s sponsor since it debuted in 1971. Over the course of its 50-year run, the program has donated over $7 million to regional causes, with the most recent $400,000 going to a longtime partner, the Ronald McDonald House.
The past event included around 300,000 people in attendance, in addition to automakers, historic vehicle groups, and automotive enthusiasts from around the world. Acura, Alfa Romeo, Cadillac, Chevrolet, Chrysler, Dodge, Fiat, Genesis, Honda, Hyundai, Jeep, Kia, Lexus, Nissan, Ram, Subaru, Toyota, and Volkswagon are among the exhibitors this year.
The convention center offers $30 for a limited amount of valet parking, which is accessible on a first come, first served basis. Across 17th St. is a municipal garage that charges $2 per hour with a $20 daily maximum. You can view a complete map of convention center parking before you arrive through the shows website. Miami Beach also offers additional public lots and garages close by.
The thrills happen at the Miami Beach Convention Center from October 15–23, 2022. Children under 12 are admitted for $6; adults must pay $15.
Lil Wayne Lists Allison Island Mansion for $29.5 Million
Grammy Award winning rapper Lil Wayne is selling his Miami mansion on Allison Island for $29.5 million after purchasing the home in 2018 for $17 million.
The seven-bedroom, nine-bath, and two-half-bath residence located at 6480 Allison Road features 10,632-square-feet of living space with 110 feet of water frontage, a pool, and a cabana. A wine cellar, a movie theater, and a great room with 22-foot ceilings are all included with the mansion.
It is situated on a little more than half-acre, the mansion was created by spec-home developer Laurent Harrari in 2017.
Before purchasing the Allison Island estate, Lil Wayne paid $10 million for a La Gorce Island mansion in 2017.
According to records, in January, Lil Wayne’s Allison Island property’s neighbor, kitchen, bath, and flooring tycoon Alan Courey, sold his beachfront mansion for $16.5 million.
On Allison Island, recent transactions include developer Todd Michael Glaser’s $7.9 million acquisition of a waterfront parcel on the opposite side of the island with partners Scott Robins and Jonathan Fryd. On the property, Glaser intends to erect a 10,000 square foot mid-century modern home.
Robert Rivani’s Black Lion Buys Retail Space at One Thousand Museum
Los Angeles-based investor Robert Rivani’s Black Lion paid $6.4 million for the ground-floor 6,500 square foot retail space inside the One Thousand Museum in Downtown Miami.
This week, the all-cash deal was completed. Black Lion intends to lease the area to a reputable hospitality company, but talks have not yet started, according to a firm representative.
Rivani stated, “One Thousand Museum is one of the most iconic and architecturally significant buildings in all of Miami. I knew we had to have a piece of it.”
The most recent purchase represents the investor’s tenth in South Florida during the previous two years, which also included a number of prestigious retail buildings.
Black Lion paid $13.5 million for the ground-floor retail space of the SLS LUX Brickell condo project last year. This space is now occupied by the popular Gekko steakhouse, a Bad Bunny and Grutman collaboration.
Additionally, the real estate investor spent $11.5 million and $19 million for retail condos in Miami Beach’s South of Fifth district. The company also owns the space that the popular upscale restaurant The Amara at Paraiso leases in Edgewater.
The 84-unit condominium was finished in 2019 by the developers of One Thousand Museum, a partnership made up of Louis Birdman, Gilberto Bomeny, Kevin Venger, Gregg Covin, and Todd Michael Glaser. They also sold the retail space to Black Lion.
Major Food Group’s Mario Carbone Buys Palm Island Estate
Major Food Group’s co-founder, Mario Carbone and girlfriend Cait Bailey, have recently bought on Palm Island in Miami Beach.
The 3,422-square-foot refurbished home cost Carbone roughly $4.3 million. According to the listing, George Fink, an architect, created the two-story house in 1925. It was listed at the end of June for $4.2 million and closed at the end of August 2022.
The estate located at 275 Palm Avenue in Miami Beach features 5 bedrooms, 3.5 bathrooms with a 2 car attached garage. The Mediterranean style home boasts high-impact windows, high-end stainless steel appliances, renovated bathrooms, and a spacious courtyard. There are guest quarters located over the garage.
The sellers are listed as Gregory Rumpel who is the senior director of JLL’s Hotels & Hospitality Group and his wife, Jacqueline. They originally purchased the home in 2013 for $1.3 million.
Since landing in Miami in late 2020, the New York-based Major Food Group, led by Carbone, Rich Torrisi, and Jeff Zalaznick, have experienced rapid growth in South Florida. Last year, Zalaznick and his wife Alison spent $15 million on a property on Miami Beach’s Sunset Islands. Mike Piazza, a member of the Baseball Hall of Fame, and his wife, Alicia, sold the land to the Zalaznicks.
A gourmet market will be a part of the 10,000 square feet Sadelle’s Restaurant and Market Place that the company hopes to open at 1212 Lincoln Road in Miami Beach.
Palm Island is an 82-acre man-made island just south of Hibiscus Island in Biscayne Bay, and only accessible by land via the MacArthur Causeway. It is known for its gorgeous landscaping, luxurious homes, breathtaking bay views, and exclusivity, making it a premier location for the Miami Beach elite.
