Terra’s President, David Martin, and GFO Investments’ Russell Galbut, proudly announce the topping-off of Five Park Miami Beach, the exclusive high-rise luxury condominium gracing South Beach this year. This architectural marvel stands as the new pinnacle of Miami Beach’s skyline, set to reach 519 feet upon its 2023 completion, and ushers in a novel era of opulent living.
With an elite address at the gateway to Miami Beach, Five Park presents an illustrious combination of a striking residential tower and the serene three-acre Canopy Park, complete with the artistically designed Canopy Bridge. It’s a landmark development that seamlessly integrates the prestigious South of Fifth district with the dynamic West Avenue corridor.
Jay Phillip Parker, head of Douglas Elliman Development Marketing in Florida, emphasizes that Five Park not only redefines the neighborhood’s standard but also embodies the exacting standards of Miami’s elite clientele. This development is a testament to Martin and Galbut’s intricate understanding of the upscale market, delivering a product that is unparalleled in the last decade in terms of quality and sophistication.
The tower, a 48-story monument of luxury, showcases 50,000 square feet of meticulously curated amenities, supported by a dedicated concierge service. Residents have exclusive access to The Park Club on the 6th floor, offering panoramic vistas of the city and bay, alongside a plethora of recreational and wellness facilities. The ground level’s Canopy Park serves as a verdant retreat, boasting a botanical garden and a variety of leisure spaces.
The project’s conception involved an assembly of world-renowned designers and architects, each contributing to the project’s majestic allure. The team’s collective expertise in aesthetics, functionality, and premium service is evident throughout the property, promising an unparalleled residential experience.
In early 2024, the anticipated Canopy Bridge, crafted by the eminent Daniel Buren, will begin construction, providing an exclusive pedestrian linkage that enhances the connectivity and accessibility of this distinguished community.
One Bayfront Plaza’s Supertall Development Signals New Era of Luxury and Business Opportunities
The recent developments at One Bayfront Plaza present a unique opportunity to capitalize on Miami’s growing status as a financial and luxury hub.
A comprehensive demolition permit has been lodged for the significant redevelopment of the One Bayfront Plaza site, a prime piece of real estate in Downtown Miami. The project involves the removal of 535,000 square feet of existing structures, which is budgeted at an impressive $2.4 million—indicating the scale and potential of the venture.
B2 Group is orchestrating the demolition process, with Jerome Hollo of Florida East Coast Realty being a key figure in the negotiations. This development comes after the completion of the interior stripping earlier this year, setting the stage for a grand reconstruction.
The vision for the new One Bayfront Plaza is to establish an iconic, towering presence in Miami’s skyline, with the Federal Aviation Administration greenlighting a soaring height of 1,049 feet. This architectural marvel is intended to host premium Class AAA office spaces, a top-tier convention hotel, and upscale residential units, ensuring a diverse revenue stream.
Furthermore, the blueprint includes an exclusive retail center and a commodious parking facility, creating a comprehensive, multi-use complex that spans two city blocks. With over 3 million square feet of space, this supertall development is poised to become a central hub for commerce, hospitality, and residence.
It’s worth noting that Florida East Coast Realty has a proven track record with the success of Brickell’s Panorama Tower. As Florida’s tallest building to date, it stands as a testament to the company’s ability to deliver on ambitious projects. The new One Bayfront Plaza is set to not only transform the Miami skyline but also to offer a multitude of possibilities in a city that is rapidly becoming a global focal point for luxury and business.
Riverside Reimagined: The Adler Group’s Pioneering Multifamily Tower Set to Transform Miami’s Skyline
In a strategic move that underscores the burgeoning potential of the Miami River area, the Adler Group, helmed by Michael and David Adler, is set to progress on a 36-story multifamily tower that promises to be a significant addition to the region. The Miami Urban Development Review Board has given its nod to this forward-looking project, Nexus Riverside 1B, which features 345 apartments and a substantial parking garage.
Hedge fund managers should note the project’s departure from previous municipal plans, signaling a shift in the city’s development trajectory and highlighting an opportunity for investment in a dynamically changing landscape.
The Nexus Riverside 1B is not just a residential building; it’s a statement of cultural synthesis, mirroring Miami’s diverse tapestry through its design and an accompanying mural by Chalk And Brush Design. This project, placed strategically at 230 Southwest Third Street, signifies the Adler Group’s deepening investment in the Miami River district, complementing their Modera Riverside venture and setting a precedent for multifamily developments in the area.
For hedge fund managers, this is an alert to Miami’s evolving landscape, where over 10,500 residential units are emerging along the Miami River. The area is becoming a nexus of high-profile developments, including Gencom and Hyatt’s supertall Miami Riverbridge and Newgard Development Group’s Lofty Brickell, heralding a wave of growth and investment opportunities in this prime waterfront real estate.
The Adler Group’s adept move, with its significant historical site acquisition and strategic pivot from a government complex to a multifamily haven, illustrates a keen understanding of urban evolution and the lucrative potential it holds for discerning investors.
Nexo Residences Unveils Townhome Series
In the burgeoning North Miami Beach area, Nexo Residences emerges as a vanguard in the condo market, now offering an exclusive suite of seven townhomes, each embodying luxury, spaciousness, and the unique opportunity for short-term leasing. With prices commencing at $1.23 million, these turnkey residences combine the investment potential of a short-term rental with the privacy and scale of a personal home, thanks to the strategic partnership between Fortune International Group and Blue Road.
The townhomes are strategically nested within the building’s podium along Highland Drive, at 13899 Biscayne Boulevard, providing three and four-bedroom configurations that span 1,547 to 2,094 square feet. Ownership includes the flexibility of seasonal rentals for a minimum of three months, up to thrice annually, positioning these townhomes as a high-demand asset for hedge fund managers looking to diversify their portfolios with passive income streams through home sharing.
Edgardo Defortuna, Fortune International Group’s CEO, spotlights the scarcity of spacious three and four-bedroom condos in the current market, especially those offering seasonal rental flexibility. He emphasizes the added value of Nexo Residences’ townhomes that afford privacy akin to a standalone house paired with the convenience of upscale, on-site amenities.
Crafted by Frankel Benayoun Architects Inc with contributions from the esteemed Carlos Ott, and interior and landscape designs by the distinguished Urban Robot, the townhomes feature gated terraces with summer kitchens, soaring ceilings, and digital enhancements such as keyless entry systems for optimal security and ease.
Beyond the townhomes, Nexo Residences boasts 254 condominium units with varying rental terms, complemented by amenities that include a grand two-story lobby, a tech hub with coworking spaces, a fitness center with a yoga studio, and a luxury pool deck, all designed to meet the high standards of convenience and luxury sought by investors and tenants alike.
The location offers unrivaled access to Miami’s commercial and recreational hubs, with close proximity to two international airports and premier shopping and outdoor spaces, underscoring its appeal to families and seasonal visitors. Jorge Savloff of Blue Road highlights the townhomes’ potential, drawing attention to their unique offering in the short-term rental space, especially in a locality that has lacked such sophisticated rental products.
The Avenue Hotel & Residences Breaks Ground
The Avenue Hotel & Residences Coral Gables, an exclusive 8-story Parisian-inspired neo-classical boutique condominium and hotel, has commenced construction. This prestigious development, situated directly opposite Merrick Park, is the brainchild of Oscar Roger, President and CEO of the esteemed Roger Development Group, a family-run entity renowned in the real estate development and management sector.
The groundbreaking ceremony, a significant event in the property’s journey, was held on November 1st at the project’s sales center at 351 San Lorenzo Avenue. Spearheaded by the formidable father-son duo, Oscar, Sr. and Oscar Roger, Jr., the event was graced by their partners Zarko Cukic, Jose Espantoso, and Veronica Rey, alongside key figures from the design team. This includes Architect Willy Bermello of Bermello Ajamil & Partners, Interior Designer Adriana Hoyos, and Alicia Cervera Lamadrid, a principal figure at Cervera Real Estate. Thornton, the project’s general contractor, was also represented.
The event attracted Coral Gables Mayor Vince Lago and over 75 influential members of the local civic and business community. The gathering was a celebration of the project’s progress, marked by a toast and the ceremonial first sand toss using branded silver shovels.
Oscar Roger, the driving force behind the project, expressed his enthusiasm for this landmark development, emphasizing its alignment with Coral Gables’ world-class standards. Oscar Roger, Jr. highlighted the project’s evolution from a concept to a city-defining landmark, praising Cervera Real Estate for their exceptional sales performance, with over 75% of the units already sold.
Cervera Lamadrid of Cervera Real Estate, the exclusive sales and marketing firm for the project, expressed confidence in its success, citing its exceptional design, quality, and prime location opposite Merrick Park as key factors driving demand.
The Avenue Hotel & Residences Coral Gables is not just a property, but a statement of luxury and exclusivity. It offers 48 residences with sophisticated one- and two-bedroom layouts, ranging from 598 to 1,200 square feet, and priced between $730,000 to over $1.3M. Each unit boasts contemporary Italian-style kitchens and baths, equipped with high-end appliances from Miele, Subzero, or Wolf. The property features over 3,800 square feet of ground floor retail space, a front desk reception, and hotel services designed to elevate the living experience. Amenities include valet parking, newspaper and package delivery services, and a resort-style pool deck on Level 9 with a summer kitchen and dining area.
The project is slated for completion in early 2025, promising to be a beacon of luxury and sophistication in the city.
Construction Update for Namdar Towers
The recent approval of a phased vertical construction permit for Namdar Towers marks a significant development in the Miami real estate. This permit, green-lit on October 12 and issued the following day, sets in motion the construction of a prominent apartment tower in downtown Miami, a project initially proposed in October 2022.
This development is not just a construction project but a strategic investment opportunity. The first phase of construction includes a tower encompassing 680 multi-family rental units, complemented by 5,356 square feet of retail space and a substantial five-floor parking structure. While the main construction permit is still under review, the progress made indicates a strong potential for significant returns on investment.
Looking at the broader scope of the project, hedge fund managers should note the planned expansion to two 43-story towers, as per the UDRB filing. This expansion will further enhance the property’s value, offering a total of 1,394 apartments, 7,984 square feet of retail space, and 336 parking spaces. Such a large-scale development in a prime location like downtown Miami represents a lucrative opportunity for portfolio diversification and growth.
John Moriarty, a name associated with quality and reliability in construction, is the contractor on record for this permit. This association further underscores the project’s potential as a sound investment. For hedge fund managers seeking to expand their real estate holdings, this project offers a blend of scale, location, and quality, making it a noteworthy consideration for portfolio enhancement.
Introducing the Pinnacle of Luxury-The $60 Million Penthouse at The Residences at 1428 Brickell
1428 Brickell has just announced the unveiling of its $60 million architectural marvel: a two-story, fully-finished penthouse that crowns The Residences at 1428 Brickell. This luxurious abode spans over 12,000 square feet, with ceilings reaching an impressive 30 feet, offering a panoramic spectacle of Miami’s glittering skyline, the Fort Lauderdale cityscape to the north, the sprawling Everglades to the west, and the vast Atlantic Ocean to the east and south. Spearheaded by Ytech’s subsidiary, 1428 Brickell, LLC, this Miami-based real estate development is on track for completion in 2027.
Yamal Yidios, CEO of Ytech, has articulated a singular vision: to craft a penthouse residence that would redefine luxury living on a global scale. The Penthouse at 1428 Brickell is poised to become a benchmark of opulence and sophistication.
The design, a masterpiece curated by the renowned Milan-based ACPV ARCHITECTS, led by Antonio Citterio and Patricia Viel, pays homage to the architectural and design giants of the 20th century. The likes of Oscar Niemeyer, Luigi Caccia Dominioni, Angelo Mangiarotti, Charlotte Perriand, and Philip Johnson have inspired a space that is a symphony of light, space, and texture, redefining the essence of luxury.
The penthouse is a showcase of exquisite materials such as silk georgette marble, eucalyptus wood claddings, and fluted glass walls—each element meticulously selected by Ytech’s team from around the globe to meet the highest standards of excellence.
In crafting this residence, the development and design teams have meticulously considered every aspect, from the circulation schemes to the strategic placement of rooms, ensuring a harmonious balance between private and communal spaces. The result is a residence that not only boasts a stone-clad sculptural stairway, the result of over 32 design iterations, but also optimizes natural light, ensuring each room glows with the shifting sunlight, enhancing the stunning city views.
The penthouse’s ambitious layout includes a custom-designed library bar, a master bathroom adorned with Salvatori stone, and a walk-in wine cellar. The kitchen, a work of art in itself, will be crafted by the artisans of Vaselli, with a separate chef’s kitchen designed by Italy’s Arclinea.
The Penthouse at The Residences at 1428 Brickell features two stories with 30-foot ceilings, 7 bedrooms, 9 bathrooms, balconies with unmatched views, and three elevators, including a private one leading to the second floor.
The Residences at 1428 Brickell also offers a collection of homes priced from $2 million to $7 million, with sizes ranging from 1,800 to 4,000 square feet. The Penthouse Collection includes lower penthouses starting at $8 million, with sizes up to 10,000 square feet, all featuring water views and a design that maximizes light and space.
The property will also feature over 80,000 square feet of amenity space, including a 10,000 square foot gym, a rooftop pool, a two-story wine and fine art lounge, and more. These amenities, combined with personalized services such as valet, porter, and in-unit package delivery, set a new standard for luxury living.
New Residential Tower Announced in Edgewater-2900 Terrace
A new residential high-rise is poised to redefine the skyline of Miami’s Edgewater neighborhood, presenting a potential investment opportunity. The blueprint, which is currently under the scrutiny of Miami’s Urban Development Review Board, envisions a 38-story edifice, soaring to a majestic 380 feet.
This ambitious project is slated to encompass a total of 324 upscale residential units, with an average size of 1,069 square feet, tailored to meet the expectations of a sophisticated clientele. Approximately 22,354 square feet allocated for office spaces, designed to cater to high-end professional services.
An additional 13,108 square feet dedicated to commercial ventures, likely to attract premium retail brands. Over 10,000 square feet of park and plaza areas, meticulously planned to foster community engagement and vibrant pedestrian dynamics. A substantial parking structure offering 515 spaces across four levels, levels 2 through 5, featuring an aesthetically pleasing artistic screen.
The landscape architecture is set to feature an array of indigenous trees, selected not only for their compatibility with the local climate but also for their capacity to offer ample shade, enhancing the pedestrian experience. The architectural vision for this tower comes from the renowned firm Arquitectonica, known for their innovative designs that blend functionality with visual appeal.
The development is being spearheaded by 2900 Terrace Owner, LLC, a name that may soon become synonymous with luxury living in Miami. The proposal is scheduled for review on November 15th by the UDRB, marking a date of significance for investors looking to capitalize on Miami’s thriving real estate market.
Unveiling HUB Miami: A Pinnacle of Mixed-Use Innovation in Downtown Miami
In a strategic move that underscores their commitment to innovation and excellence, The John Buck Company, Florida Value Partners, BH Group, and PEBB Enterprises have collectively unveiled HUB Miami. This 41-story mixed-use tower, strategically positioned at 525 NW 2nd Avenue in the heart of Downtown Miami, is poised to redefine the standards of luxury living and premium office space.
HUB Miami stands as a testament to architectural brilliance and thoughtful design, boasting 306 condominium residences and a sprawling 245,000 square feet of Class-A office space. Crafted by the renowned ODP Architects and adorned with interiors by One Line Design Studio, this development seamlessly integrates work and leisure, offering a hyper-connected live-work lifestyle. Its proximity to MiamiCentral Station ensures unparalleled connectivity, facilitating easy travel across major metros throughout Florida.
OneWorld Properties takes the helm as the exclusive sales and marketing brokerage for HUB Miami Residences, with prices starting in the mid $400,000s. On the commercial front, CBRE, a leading real estate firm, will spearhead the leasing efforts for HUB Miami Offices.
Ryan Lovell, Managing Director of Investments at The John Buck Company, expressed his enthusiasm: “HUB Miami marks a pivotal moment for our firm, being our inaugural project in Florida. This development is a strategic response to the burgeoning demand for high-caliber office spaces in Miami, offering a central location and exceptional connectivity.”
HUB Miami Residences introduces a collection of fully furnished residences, starting from the 22nd floor, with a variety of layouts including studio, one-bedroom, and two-bedroom options. Each residence is a paragon of modern luxury, featuring open floor plans, floor-to-ceiling glass windows, and gourmet kitchens equipped with Bosch appliances. A state-of-the-art keyless entry system ensures secure and convenient access for all residents.
Residents of HUB Miami will have exclusive access to a suite of amenities, including a cutting-edge fitness center, spa facilities, resident lounges, and work-from-home spaces equipped with video conferencing facilities. The development also features a Sky Lounge bar, resort-style pool, and 24/7 concierge and security services.
HUB Miami Offices offers an impressive 245,000 square feet of Class-A office space, with floor plates ranging from 18,000 to 32,000 square feet. Tenants will enjoy access to private amenities including a fitness center, tenant lounge, conference center, and 24/7 security services.
HUB Miami is a landmark collaboration between four esteemed developers, creating a unique residential and office offering in Downtown Miami. This development not only enhances the city’s skyline but also solidifies its reputation as a thriving economic hub and a desirable destination for both living and working.
Construction Update for Baccarat Residences Miami
Last week marked a pivotal moment for Miami’s real estate landscape as we witnessed the commencement of construction for the Baccarat Residences Miami, a development poised to redefine luxury living in the city. The groundbreaking ceremony, captured and shared through social media, has ignited conversations and anticipation among industry insiders and aficionados alike.
Baccarat Residences is on track to become an iconic fixture in Miami’s skyline, boasting an impressive stature of 75 stories, and soaring to a height of 848 feet above ground, or 852 feet above sea level. This monumental structure is set to eclipse the current record-holder, the Aston Martin Residences tower, which stands tall at 66 stories and 816 feet above ground, located just along the Miami River and nearing its completion.
Not too far from the site, the Waldorf Astoria is making its own mark, with construction well underway. This ambitious project is expected to reach a staggering 1,041 feet above ground, incorporating both hotel and residential components, offering a multifaceted luxury experience.
The city’s Building Department has been actively involved, issuing a site work permit for the Baccarat Residences in September, with the permit for full vertical construction currently under meticulous review.
John Moriarty, a name synonymous with excellence and precision in construction, has been entrusted as the contractor for this landmark project.
Adjacent to the Baccarat site, another development is taking shape. A 44-story tower, currently under construction, is set to house 506 apartments, further enriching Miami’s residential offerings.
For hedge fund managers and investors alike, the Baccarat Residences represent not just a pinnacle of luxury living, but also a strategic opportunity in one of Miami’s most sought-after locales. The project’s ambitious scale and prime location underscore Miami’s unwavering appeal and resilience, even in the face of ever-evolving market dynamics.
