Edgewater Tower Proposed by Aimco is Denied Approval
After a city of Miami board refused to recommend approval of Aimco’s plans for a luxury rental tower in Edgewater, the developer is determined to revaluate the development plans and come up with a solution to get these plans moving forward.
After identifying a number of “serious concerns” with the design, members of the Miami Urban Development Review Board voted on Wednesday to reject plans for the proposed mixed-use development across from Aimco’s Hamilton on the Bay tower. Despite the board’s rejection, Aimco can still seek approval for the project.
The board was initially split on whether or not to recommend acceptance of the proposals with conditions, with three members voting in favor and three voting against. As a result, the developer can either withdraw its application and start the process all over again, or the board can vote to decline the recommendation, allowing the developer to submit amended plans to the planning director for final approval.
Aimco’s attorney, Tony Recio, a partner at Weiss Serota Helfman Cole + Bierman, said the developer is examining the board’s ideas and looks forward to “addressing their criticisms with the planning director” as the project moves further. Recio submitted the concept to the board of directors on Wednesday.
Though they praised the project’s overall design, board members expressed concerns about circulation on the ground level, including how residents and restaurant customers would access parking, apartments, and the restaurant, as well as loading and trash collection, landscaping, and an oversized mail room.
At 555, 560, 600, 610, 620, 630, and 640 Northeast 34th Street, Aimco, a publicly traded multifamily real estate investment company located in Denver, has proposed a 60-story, 241-unit tower. On more than an acre of land, the construction would include a new parking structure and 4,700 square feet of commercial space for a restaurant on the bottom level facing the water.
Aimco has made a significant investment in Edgewater. It paid over $90 million for the Hamilton on the Bay rental complex, which is currently undergoing substantial renovations, nearly two years ago. A nearby vacant lot and a modest rental building were included in the purchase.
Following the cancellation of its tenants’ leases at the Hamilton last year, Aimco purchased premises across the street, where the new project would be built.
New Development Revealed- Surf Row Residences
Surf Row Residences, a new ultra-luxury residential property located at 8800 Collins Avenue in Surfside, is being developed by Lineaire Group, Miami-based real estate development, and investment firm.
Featuring a collection of eight private beach homes designed by award-winning firm Rene Gonzalez Architects (RGA), the development offers refined interiors, the utmost privacy, and unparalleled indoor-outdoor living adjacent to the beach. Only a few residences have been released and sales are currently by invitation only.
Through the careful use of skylights, layered glass, and double-height ceilings, each villa emphasizes the indoor-outdoor link. Three- to five-bedroom residences with 3,500-5,600 square feet of internal space are available. Each residence will feature almost 2,000 square feet of private outdoor living space, including a rooftop with a plunge pool, a summer kitchen, and a large gazebo. Each property will also include a private garage and a front yard that is enclosed. Prices start at around $5 million for a single-family home.
“Surf Row Residences provides buyers with an incredible opportunity to own a one-of-a-kind, exclusive villa, that lives like a single-family home given the sprawling layouts and private outdoor space,” said Alejandro Bonet, Partner at Linéaire Group. “Today’s buyers are seeking a blend of suburban space without sacrificing location, and we believe this development offers an exciting sense of both community and privacy that meets those demands.”
The 0.65-acre development property is located between Collins Avenue and Harding Avenue on 88th Street’s northern frontage. The property was purchased from the previous owner for $7.3 million by an associate of Lineaire Group in August 2021.
The plot of land is listed as 8809 Harding Avenue in property records, but the change to a Collins Avenue address is thought much more acceptable for marketing purposes.
Residence Features
European kitchen with custom-designed wood cabinetry, imported marble countertops, and professional-grade appliances
Large format coral stone flooring with natural wood inlay designs
Floating staircases made with cantilevered solid wood slabs & glass panel railings
Spa-inspired master bathroom furnished with a luxurious rain shower, oversized freestanding tub, and finished with imported fluted marble walls
Skylights flood the interior with natural light via a central light shaft spanning all levels
Rooftop with summer kitchen and plunge pool
Two-car indoor garages, plus one open-air parking space
Latest smart home automation by Savant
Top-of-the-line security system with exterior surveillance cameras
Private elevator
Service/laundry room Upgrades
Kosher kitchen
Elevator lift for additional parking
Interior surveillance package
The project is expected to begin construction in the spring of 2023 and with a completion date in 2024.
$110k Loss for Singer Trey Songz After Selling his Miami Condo
In 2017, singer and songwriter, Trey Songz purchased a condo in Miami’s Brickell Heights East for $1.09 million. In January 2022, Songz listed the unit for $1.2 million and ended up selling the unit in March for $980k to an undisclosed buyer.
The property itself features 2 bedrooms, and 3 bathrooms, with over 1,356 square feet. With 12-foot ceilings, floor to ceiling heigh impact glass windows, and a modern kitchen that opens to the living room.
These specific units showcase elegant entry foyers, wrap-around terraces, and custom bathrooms with designer porcelain tile. The bathroom rooms also feature porcelain tile and custom vanities.
Amenities for Brickell Heights East
Equinox Fitness Club & Spa with high-performance fitness programs
3,500 square foot SoulCycle studio
24-hour concierge
24-hour valet parking
Rooftop pool
9th-floor pool terrace with swimming and lap pools
Screening room
Two beautifully designed entertainment rooms available for private events
Kids’ playroom
WiFi access in all amenity areas
Songz previously purchased a unit in the same building in 2010 for $473k and sold it for $710k right before purchasing the second unit.
Trey Songz, whose real name is Tremaine Aldon Neverson, is an American songwriter, singer, record producer, and actor. Songz released his first album in 2005 with Atlantic Records, I Gotta Make It. One of Songz’s highest charting songs to date is Bottoms Up which featured Nicki Minaj. Songz has released a total of 8 albums.
Miami Officials Plan to Move Office Headquarters to Miami Freedom Park
Inter Miami CF’s new stadium may gain some new neighbors, including the City of Miami’s headquarters. Officials in Miami are looking at a contract to build the municipal administration offices at Miami Freedom Park, a large mixed-use redevelopment of a golf course near Miami International Airport. The MLS team’s stadium would be the site’s main attraction, but there would also be commercial development.
The plan to construct a new municipal administration headquarters has been in the works for more than five years.
City voters approved a referendum to lease the present municipal administrative headquarters in 2018. The current lease includes a 3.15-acre property along the Miami River at 444 S.W. Second Ave., to Lancelot Miami River LLC, a unit of Miami-based Adler Group. The developer intends to build a mixed-use development there.
The agreement also required Lancelot Miami River to construct a new municipal administrative facility of about 230,000 square feet with at least 610 parking spots. The city would fund the building with a special obligation bond, but Lancelot Miami River would be in charge of construction.
The city originally planned to build its administrative center on the 1.6-acre Lancelot Miami River property at 230 S.W. Third St. However, the agreement has not yet been formalized.
The City Commission then approved the lease and development agreement for Miami Freedom Park in April. A 25,000-seat soccer stadium, 1 million square feet of retail and commercial space, and 750 hotel rooms would be included in the project. The proprietors of Inter Miami would completely fund this project, and the location would require extensive environmental remediation.
This new building would take up around 1/4 of the commercial area at Miami Freedom Park.
The current designs for the municipal administrative building, according to David S. Adler, head of Adler Group, are for Miami Freedom Park. This would free up its 1.6-acre Miami River property to expand its mixed-use development.
In April, David Beckham won approval for a land lease for a Major League Soccer stadium in that same location.
Miami Condo Investments Celebrates its 15 Year Anniversary
On May 17th 2007, Lucas Lechuga launched one of the most successful condo websites in Miami. With just a desire to bring better user experience, real estate listings, and news, Lechuga has achieved just that and so much more!
Over the years, he was able to develop a way for users to search for their potential properties through alternative methods instead of the traditional zip code searches and he also found a way for consumers to access market statistics without ever having to make a call or enduring tedious research methods.
In 2017, for the 10 year anniversary of the website, the average users ranged from 40,000 unique visitors per month globally from 200 countries. Still pacing as the #1 Miami Condos Website, 2022 brings over 100,000 unique visitors per month globally just through Google.
Not only does Miami Condo Investments offer a unique real estate listing experience, but you can also enjoy new construction tower updates, real-time inventory data, condo ranking system, up-to-date condo tower photos, rentals, and a real estate blog posted daily.
We are also in the process of some new landing pages aiming to be even more user and mobile friendly, searching with specific criteria, and a new mobile app. We will update everyone once we get closer to a launch date.
As far as the team…During our last anniversary, our team included six agents and now our team is growing along with the website. We have reached 9 agents that assist buyers and sellers with all of their real estate needs. We also have 3 office admins, including assistants and marketing pros.
We are so grateful for all of the accomplishments that this website and our team has completed over the past 15 years and we can’t forget about our readers and clients. Thank you so much for allowing Miami Condo Investments to be your most knowledgable partner while navigating the real estate market. We look forward to serving you and Miami the next 15 years!
John Ruiz Plans to Build a University of Miami Stadium at Tropical Park in Miami-Dade
The University of Miami Hurricanes have been without a stadium since 2008 and have been traveling to the Hard Rock Stadium in Miami Gardens in Coral Gables for all of their home games. It’s been such a struggle for fans and students alike that a University of Miami alumni has taken it upon himself to remedy the situation.
John H. Ruiz, billionaire attorney and founder of MSP Recovery recently announced the plans to build a new stadium located at the Coral Gables High School. According to local officials, Ruiz did not consult with Miami-Dade County Public Schools or the City of Coral Gables on the plan.
Miami-Dade County Public Schools still owns the property where the proposed stadium would be built. Once his plans were denied, Ruiz then announced a new spot of the Miami Hurricane’s stadium, Tropical Park in Westchester. According to Ruiz, “It’s gonna be at 4 Tropical Park — there are about 270 acres there. The design is over the top, it’s gorgeous, I’ve seen it already a couple of times.”
The design for the stadium includes 65,000 seats with space for graduate-level classrooms and extreme water fixtures throughout the property. The architect behind the plans includes HKS Architects.
Tropical Park is publicly owned land by Miami-Dade County. Ruiz doesn’t appear concerned about speaking with Miami-Dade County, “We’re gonna present the plans to the county, but the county is less important in my opinion because it has to go out to a vote to the constituents as a referendum. Obviously, we’re going to talk to the commissioners and the mayor, but ultimately it goes out to a vote to the general public.”
This isn’t the first sports venture that Ruiz has been a part of. In 2011, he leased a 90-acre baseball development at the City of Homestead. The city later filed a lawsuit to evict him from the development 2 years later after he didn’t pay the utilities, insurance, and taxes on the property.
A private-sector attorney, Jose Sanchez-Gronlier stated that he didn’t want one of the last green areas in Miami-Dade County to be demolished for a stadium. It is unclear how residents and local representatives will respond to the new development. Ruiz will meet with the county to present the Tropical Park stadium idea to the county next week.
Dirty French Steakhouse Officially Opens in Miami
Thanks to Major Food Group, they are bring another one of their successful New York restaurants to Miami. Located in the heart of Brickell, Dirty French Restaurant will bring culinary sophistication through this Parisian Fare steakhouse to further add to the ever-expanding Miami scene. Oh, and did we mention…the decor is 80’s era themed?
From the high-quality meat and fish to the comprehensive 700-bottle wine list, Major Food Group co-founders Zalaznick, Mario Carbone, and Rich Torrisi have brought this innovative menu to life with a menu full raw bar items, seafood dinners, aged steaks, and your favorite classic side dishes.
The menu itself ranges from prime aged steaks, including Filet Mignon, Ribeye, and New York Strip, all of which are presented with a variety of sauces ranging from Au Poivre to Cajun. Forty-ounce Porterhouses and a Wagyu Tomahawks, are the chef’s favorites and Diners will be surprised by a range of off-menu cuts offered weekly at the restaurant as well. The menu also includes a savory Dover Sole Meunière served table-side, a Duck à l’Orange, and an excellent soufflé program, all of which pay homage to the restaurant’s Parisian roots.
The design of the interior can only be described as French elegance. Designed by Ken Fluk, Dirty French Steakhouse mixes the early 80’s French era with contemporary tropical designs. Throughout, you’ll notice the golf-leaf ceiling, Jungle Bar, onyx bar, glass leaf chandelier, leopard bar stools and banana pendants. The pieces blend elegantly and really make the steakhouse inviting.
According to Co-Owner of Major Food Group, “After making this paradise home, we realized that there was a tremendous opportunity to bring a sensational steakhouse to Brickell in true MFG fashion—a sophisticated, contemporary, high-energy culinary blockbuster fit for the most exciting city in the world today. It simply does not get any more major than Dirty French Steakhouse, which is the beginning of a series of big projects in the neighborhood.”
French Dirty Steakhouse has officially opened and if it’s like Major Food Group’s other Miami restaurants, Carbone, ZZ’s Club, and Sadelle’s, you may want to book your reservations now. Make your reservations through DirtyFrench.com.
Miami’s Grand Prix Week is Here
Beginning May 3rd, Supercar Rooms Miami will be hosting the Miami GP Week, an action-packed week of everything cars celebrating the automotive industry and culture right before the Formula 1 big race. Located in the heart of Miami’s Wynwood at 2022 NW 1st Court, Supercar Rooms Miami is the world’s first member’s only art gallery dedicated to automotive visionaries and interactive experiences.
Elo, the British-born automobile genius, founded and established the company Supercar Rooms Miami. Elo began to amass his own car collection, a desire that developed from a childhood curiosity and admiration for motors. His collection developed to include a vehicle for every mood and occasion.
Elo has been a vehicle collector for over 30 years and is a true automotive aficionado. Presenting on DAVETV’s ‘Modern Wheels or Classic Steals,’ HISTORY UK’s ‘Ultimate Wheels,’ and MTV’s ‘Slips.’ Elo has established himself as a leader in the custom/classic automobile field.
Supercar Rooms Miami is home to one-of-a-kind masterpieces including the 1929 Rolls Royce Bootch, 1961 196 SP Ferrari antique racing car, 2007 Shelby Supercar Ultimate Aero TT vehicle number 1, 1958 450 S Maserati vintage racing car, and 1955 SL 300 Mercedes Gullwing, to mention a few.
Now that Formula 1 is coming to Miami, Supercar Rooms Miami is hosting Miami GP Week. Supercar Rooms Miami invites car aficionados to join them for an incredible week-long event filled with planned activations each day to commemorate the automotive culture that has a stronghold in South Florida.
In collaboration with headline sponsor, IWC Schaffhausen and Crypto sponsor Solana, E11EVEN Vodka, Exotics on Las Olas, and Sunreef Yachts, and
Supercar Room Miami’s Schedule:
May 3– Paddock Orientation Meal- An introduction dinner presented by Supercar Rooms Miami in which a special cuisine is developed and served as you network and enjoy the night among the car community. You will get all of the details and special events for GP Week.
May 4– IWC watchmaker private session- Enjoy lunch at an award-winning Michelin-starred restaurant in Miami’s Design District and be immersed in the world of IWC Schaffhausen. A private Watchmaking lesson will introduce you to the world of high-end Swiss accuracy and workmanship.
May 5- A parade of supercars will cruise down to the Florida Keys for a 60-mile journey. Enjoy a delicious summer lunch while being treated to an exclusive IWC reveal.
May 6– Checkered Flag- The official kick-off celebration for the Miami Grand Prix is preparation for one of Miami’s greatest races. Get ready for a night filled with supercars and the theme of the night is all-access, with special guests in attendance.
May 7– Formula One qualifying day at Hardrock Stadium-From 11:00 a.m. until 4:00 p.m.
May 7-The first-ever Fabio Lamborghini Lifestyle US Store on Lincoln Road celebrates its grand opening. The event will run from 2:00 to 4:00 p.m. This is a private, invitation-only event.
May 7-8– Fabio Lamborghini Miami GP Week Fanfest takes place on Lincoln Road in Miami Beach. 11:00 a.m. to 6:00 p.m. The fanfest is free and open to the public, and it commemorates Lamborghini’s F1 history, which dates back to 1991. Come view Lamborghini’s, both vintage and modern collections.
May 8– Holman Fanfest Experience: From 11 a.m. to 6 p.m., join the Holman family of dealerships next to their luxury flagship dealership in Sunrise, Broward for a day of food, family-friendly entertainment, and all the spectacular action from the racetrack.
May 8– Supercar Rooms on Race Day Miami has leased many suites at Hardrock Stadium, where its members will witness the inaugural Formula One race in Miami.
In addition, Supercar Rooms Miami will provide its members with Red Bull Beach grandstand access to the man-made beach as well as cabanas. This will be a fantastic experience since it will blend Formula 1 racing with a regular day on the beach in Miami.
Can the Metaverse Change the Miami Real Estate Market?
“Metaverse” is a massive buzzword in the realms of technology, business, and finance right now, and like all buzzwords, its definition is hazy, debated, and molded by the objectives of those who use it. Now, the Metaverse is being debated whether it can be a real estate game-changer.
One Miami commercial group is trying to make their listings more attractive by utilizing the Metaverse. Currently, Inhouse Commercial is partnering with the Metaverse Group to create a virtual copy of the two buildings that they have for sale in Miami Beach.
The properties are located at 930 and 960 Alton Road, and whoever purchases the properties, will receive the digital copies of the buildings in the Metaverse. The total asking price for the package is $25 million.
The property is owned by the former Miami Beach Mayor, Phillip Levine. It has been on the market since early 2021. Although the property has received multiple offers, the company stated that they believe they could lure in a big tech company with the Metaverse addition.
Metaverse Group, a significant virtual real estate owner and developer, has so far only created representations of the virtual property. According to Matt Zanardo, the firm’s consulting head, it will wait until Inhouse finds a buyer to completely build it out and choose the metaverse where it will reside.
According to Inhouse’s owner, “Companies and brands in our line of business were entering the metaverse, and we saw there was probably going to be a need for a connection to the real world.”
Recently, a number of organizations and brands have entered the metaverse recent months, and the feasibility of the virtual real estate industry has yet to be shown.
If the company succeeds with this deal, this will be the first-ever commercial/metaverse purchase and will forever change how commercial properties are presented to developers as well as other potential buyers.
Okan Tower Reaches $39 Million in Sales in 1 Month-Groundbreaking Planned for June
Sales have not slowed down for many pre-construction towers in Miami and that list also includes Okan Tower Residences. In a recent press release, developers saw just over $39 million in sales for the month of March.
Originally launched in May 2018, Okan Tower was put on hold in early 2020 due to the pandemic. Now the developer, Okan Group, is moving full force ahead. Okan Tower is expected to rise 70 stories tall with 163 condos and 263 condo-hotel units.
The tower will be located at 555 North Miami Avenue in Downtown Miami and will include luxury resort-style amenities, office spaces, entertainment areas, and a 316-key Hilton Hotel.
Prices for units at Okan Tower will begin at $387,000 for the condo-hotel units and $587,000 for the condos and will go up to $2 million. The hotel units will start on the 36th floor with studio to 2 bedroom floor plan options. These floor plans range from 445 to 1,250 square feet.
The condos will then begin on the 51st floor and will feature 1 to 3 bedroom floor plans. These units will have 695to 2,075 square feet of living space.
The tower will also feature a 2-floor penthouse with 1,875 to 2,040 square feet of living space. Okan will also include luxury resort-style amenities.
Amenities
70th-floor rooftop pool
Sky deck with cabanas
12th-floor lap pool
Clubroom and lounges
Health and fitness center
Spa
Children’s room
Theater
Wine cellar
Owner’s lounge
Amenity deck on floors 27-30
Cafe
Bars
Conference and meeting space
Ballroom
Spa with a marble Hamman
The groundbreaking is scheduled for June 2022. This will be the developer’s first real estate project ever.
If you or someone you know have an interest in purchasing at Okan Tower, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
