Mast Capital, together with its partner Rockpoint, has recently celebrated a significant achievement in their construction project at 3900 Alton Road. This new nine-story building in Miami Beach, a creation of renowned Arquitectonica with landscape design by Within Hults + Partners, introduces 178 upscale units to the market.
The project, managed by Kaufman Lynn Construction as the general contractor, was recently highlighted in a LinkedIn video marking its topping-off ceremony. JGR Construction, Inc. and US American Concrete are handling key structural and concrete aspects of the construction, with Coastal Metal and AKO Plumbing Corp contributing to the metalwork and plumbing, respectively. Additionally, two tower cranes from Morrow Equipment and formwork solutions from Doka USA are in place, while NV5, Inc. oversees construction materials testing.
Funded by a $64 million loan from PNC Bank in November 2022, the groundbreaking of this Miami Beach residential project set the stage for its anticipated completion. The first units are expected to be available by Fall 2024, in line with Mast Capital and Rockpoint’s aim to offer high-quality living spaces in a sought-after South Florida neighborhood.
Camilo Miguel Jr., CEO of Mast Capital, expressed his enthusiasm about the project, emphasizing its unique position in the Miami Beach real estate market, known for its limited availability of developable land. Unlike most new developments in the area that focus on properties for sale, this project targets the growing demand for luxury rental housing.
The building’s design features a blend of luxury and functionality, offering studio to three-bedroom apartments with high-end finishes like Italian cabinetry, porcelain flooring, and spacious balconies. The development also boasts amenities such as an elevated pool deck with bay views, BBQ and outdoor gaming areas, fitness and yoga studios, a resident lounge, co-working spaces, and a pet washing station.
Dan Domb, Managing Member at Rockpoint, also highlighted the importance of this development. He noted the strong demand for premium rentals in Miami Beach and the partnership’s strategy to invest in multifamily residences in the high-demand, limited-supply South Florida housing market.
Mast Capital’s significant role in Florida’s real estate scene is underscored by its diverse portfolio, which includes various residential and commercial properties across the region. The firm’s ambitious growth strategy involves acquisitions totaling over $3.5 billion in project capitalization and developing more than 4,000 residential units in South Florida’s Fort Myers and Tampa metro areas.
Construction Update for Bentley Residences Sunny Isles Beach
A major development in the Bentley Residences Sunny Isles Beach project has been achieved. The project has secured a critical agreement for connecting to the county’s water and sewer utilities, as recorded on December 11. This progress is a significant indicator of the project’s forward momentum.
Bentley Residences is set to offer 216 high-end residential units, promising a blend of luxury and exclusivity. An attractive feature for investors is the minimal utility connection charge of only $47,376, significantly reduced due to a credit for 180 former hotel rooms on the site. This reflects a smart cost-saving approach in the project’s development.
Spearheaded by acclaimed developer Gil Dezer, the project is gearing up for a groundbreaking event which would mark the commencement of construction. The anticipated completion date is set for 2026, offering a strategic investment timeline.
As of November, the project is already 40% pre-sold, indicating a robust market response and high investor confidence. The sale rate of four to six contracts per month, highlights the strong and consistent interest in the project.
Bentley Residences’ strategic Sunny Isles Beach location, coupled with luxurious features and a strong pre-sale performance, positions it as a potentially lucrative investment with a promising return.
The Rise of Mandarin Oriental Towers in Miami’s Exclusive Brickell Key
The Mandarin Oriental Towers project in Miami’s prestigious Brickell Key represents a significant investment opportunity. Currently in the advanced stages of permitting, with applications already submitted to Miami’s Building Department, this development is progressing rapidly towards construction, ahead of its planned condo sales launch in early 2024.
This ambitious project, exempted from UDRB review as confirmed earlier this year, comprises two distinct towers. The first tower is an architectural marvel, soaring to 65 stories and housing 228 luxurious condominium units. Standing at an impressive 826 feet, the construction of this tower involves a hard construction cost of approximately $237 million, inclusive of $663,600 in initial permitting fees.
The second tower offers a diverse mix of residential and hospitality options. It includes five levels of parking, eight levels of high-end lodging with 121 rooms, four levels of a condo-hotel featuring 28 units, and ten floors dedicated to 66 condominium units. This tower entails a hard construction cost of around $226 million, with $632,800 required for upfront permitting fees.
Moss & Associates, renowned for their construction expertise, are the appointed contractors for both towers. The project is spearheaded by Hong Kong-based Swire Properties, a name synonymous with high-quality developments. Kohn Pedersen Fox, a globally acclaimed architectural firm, is responsible for the design of these towers.
For investors seeking to capitalize on a premium real estate opportunity, the Mandarin Oriental Towers in Miami present a compelling proposition. With its strategic location, distinguished design, and robust development plan, this project is poised to redefine luxury living in Miami.
Rosewood Hotel and Residences Reveals $150 Million Penthouse in South Beach
Rosewood Residences, a 17-story luxury condo tower in the heart of Miami’s South Beach, designed by renowned architect Peter Marino. This project includes a record-setting penthouse, poised to be Miami Beach’s most valuable property, with a valuation exceeding $150 million. Scheduled for completion in 2026, this asset represents a rare opportunity in one of the world’s most desirable real estate markets.
The development, a fusion of high-end hotel, restaurant, and residential spaces, spans three acres on 18th Street and Collins Avenue, incorporating the historic Raleigh Hotel. Managed by the prestigious Rosewood Hotels & Resorts, this project is designed to redefine luxury living, offering unparalleled amenities and exclusive experiences.
At $10 million for a three-bedroom residence, with larger and more exclusive units available, the condominium promises substantial returns. The project’s pricing strategy aligns with luxury real estate trends in major cities like New York. The unique location and high-end offerings of this development present a compelling value proposition for discerning investors.
In 2019, developer Michael Shvo, in partnership with Deutsche Finance Group, acquired and envisioned a transformative project for the iconic Raleigh Hotel and adjacent properties. Shvo’s vision, endorsed by Miami Beach’s mayor, combines historic preservation with modern luxury, creating a unique investment proposition.
Peter Marino’s design emphasizes simplicity, elegance, and unobstructed ocean views, offering a refreshing contrast to typical Miami architecture. The building’s design is a testament to innovation, with units featuring high ceilings and premium materials, curated for an elite clientele.
Managed by Rosewood, the Residences promise a lifestyle of unrivaled luxury. Residents will enjoy hotel-style services, including the US outpost of the famed Milanese restaurant Langosteria. This holistic approach to luxury living makes the Rosewood Residences a standout investment in Miami’s property market.
Michael Shvo’s commitment to creating an unmatched product in Florida’s luxury real estate landscape is evident.
Crafting Elegance Above the Clouds-Unveiling the 56-Story Edition Residences in Edgewater
A significant opportunity has emerged in the real estate sector with the recent submission of a construction permit application for the Edition Residences in Edgewater, a project poised for remarkable returns. This 56-story development represents a strategic investment opportunity.
On December 5th, a comprehensive vertical construction permit application was finalized, following an earlier submission in May which had expired. The latest submission outlines a plan for 187 high-end residential units, coupled with a 13-level parking facility and 3,500 square feet of prime office space.
The project’s scale is impressive, with total new construction covering 1,206,774 square feet. The estimated hard construction cost stands at a substantial $215,750,000, indicating the project’s premium nature and potential for high-value returns.
Coastal Construction, a reputable firm, is on board as the contractor, ensuring quality and reliability in execution. The architectural design of this 649-foot glass tower is being spearheaded by the renowned Arquitectonica, promising a blend of luxury and innovative design.
Moreover, the project is advancing with separate applications already in process for a total demolition permit of an existing older condo building on the site, as well as a seawall permit, paving the way for this new landmark development.
This project presents an exceptional investment opportunity, combining luxury, innovation, and strategic location, making it an ideal addition to any high-yield real estate investment portfolio.
4241 Aurora Ushers in New Era of Upscale Living in Coral Gables
The recent approval of 4241 Aurora, a new project by Miami’s renowned real estate developers Constellation Group and The Boschetti Group, presents a unique investment opportunity. This Mediterranean-style mixed-use development, masterfully designed by the globally acclaimed Arquitectonica, is strategically positioned at 4241 Aurora Street in Coral Gables’ innovative Design and Innovation District. This development not only signifies a successful navigation through a stringent approval process but also introduces an upscale, mixed-use residential and commercial hub in the thriving heart of Merrick Park, Coral Gables’ prime shopping and entertainment zone.
Eduardo Otaola, Managing Principal of Constellation Group, emphasizes that 4241 Aurora is set to become a vital asset in Merrick Park, enhancing the district’s growing allure as a global destination with high-end amenities including premier restaurants, educational institutions, parks, and international business hubs.
Jose Boschetti from The Boschetti Group highlights the project’s commitment to creating a dynamic environment that fuses luxury living with substantial business and community growth opportunities. This development is poised to be a significant addition to Coral Gables, contributing to the city’s legacy of excellence.
4241 Aurora offers an enticing composition of eight floors of luxury residential condos, coupled with three levels dedicated to parking, retail, and office spaces. The development, standing at 137.5 feet, will feature a 5,000 square-foot park with verdant landscaping, public art, and ground-floor retail overlooking Merrick Park.
The residential segment provides a range of condominiums from two-bedroom units of 1,016 sq. ft. to larger three-bedroom residences with dens of 1,860 sq. ft. Exclusive amenities include a grand lobby, a rooftop lounge for residents, a state-of-the-art fitness center, a swimming pool, a pickleball court, commercial retail spaces, and outdoor dining areas with grilling stations.
Projected to break ground in the second quarter of 2024, 4241 Aurora is a prominent addition to Constellation Group’s portfolio in South Florida. The firm’s current projects include a luxury boutique office building in Merrick Park, Ella Miami Beach – a 10-story boutique condominium in North Beach, and SeaGlass Cove – a luxury private enclave of 14 oceanfront single-family homes in the Florida Keys. These developments represent substantial investment opportunities in some of South Florida’s most desirable locations.
Villa Miami Reveals New Amenity Renderings
Nestled in the heart of Edgewater Miami, a new era of luxury living is on the horizon with the pre-construction project, Villa Miami. This bayfront development isn’t just another high-rise—it’s a collaboration of world-class minds and talents. Spearheaded by Terra Development, One Thousand Group, and Major Food Group, and graced with the architectural genius of Pritzker-Prize laureates like Bjarke Ingels, Rem Koolhaas, and Arquitectonica, Villa Miami is poised to redefine luxury living.
Imagine living in a 58-story crystalline tower, soaring 650 feet into the Miami skyline. The copper-colored, exoskeletal design of Villa Miami isn’t just striking; it’s exclusive. This architectural masterpiece is a sanctuary for just 50 families, offering unprecedented levels of privacy and luxury.
Each residence in Villa Miami is a testament to opulence and state-of-the-art living. From expansive full-floor and half-floor units to magnificent 2-story penthouses, every home offers breathtaking 360-degree views of Biscayne Bay and the Miami skyline. The residences boast spacious floor plans, stainless steel appliances, smart home technology, minimalist kitchens, and complete control over in-residence applications.
The amenities at Villa Miami are equally impressive. Residents will enjoy an elegant lobby, a luxurious pool, a state-of-the-art fitness center, high-speed elevators, round-the-clock concierge service, ample parking with 193 spaces, and over 16,000 square feet of commercial and retail space. A rooftop helipad and a public baywalk add to the allure of this exceptional development.
Location is everything, and Villa Miami doesn’t disappoint. Situated at 710 NE 29th Street in Miami’s vibrant Edgewater neighborhood, it’s within walking distance of cultural hotspots like Margaret Pace Park, the Adrienne Arsht Center for the Performing Arts, and Midtown Miami. Whether it’s shopping in the Miami Design District, exploring the artistic Wynwood Miami, or a quick drive to Brickell, South Beach, or the Miami International Airport, Villa Miami is at the center of it all.
Villa Miami is not just a residence; it’s a lifestyle choice for those who seek the extraordinary. With its blend of visionary design, exclusive living, and a prime location, it’s set to become one of the most coveted addresses in the world. As construction progresses, Villa Miami is not just building homes; it’s crafting a legacy.
Introducing Continuum Club & Residences in Miami’s North Bay Village
We are thrilled to announce the official launch of sales for Continuum Club & Residences, a groundbreaking luxury condominium in Miami’s exclusive North Bay Village. This project heralds the advent of Continuum 2.0 – the second-ever Continuum branded residence. It’s a testament to the visionary prowess of developer Ian Bruce Eichner, who has transformed Miami’s South of Fifth neighborhood into a prestigious community.
This remarkable venture is a collaborative effort between Continuum Company and Aksoy Holdings, the Turkish developer behind The Ritz-Carlton Residences, Bodrum. Their partnership has resulted in the creation of a residential marvel that is set to redefine luxury living in Miami.
Continuum Club & Residences is a splendid addition to Miami’s real estate portfolio, slated to break ground in the winter of 2024. This project will stand as a curvaceous 32-story beacon, featuring 198 residences ranging from one to four bedrooms, including lavish penthouses. With prices starting just under $1,000,000, these homes range from 800 to 4,000 SF, offering unrivaled views of the Atlantic Ocean, Biscayne Bay, Indian Creek, and Downtown Miami.
Ian Bruce Eichner, the Chairman and CEO of Continuum Company, sees North Bay Village as the next South of Fifth – ripe with growth potential. His dedication to pioneering neighborhood evolutions makes this project an exciting opportunity for investors.
The project is a blend of exquisite design and architecture by Arquitectonica, with interiors by Durukan Design and landscaping by Martha Schwartz Partners (MSP). Each residence boasts private terraces, Subzero/Wolf appliances, and luxurious primary baths. Over 50,000 SF of amenities include a waterfront resort pool, marina, indoor fitness studio, resident spa, and much more.
Residents will enjoy a destination waterfront restaurant, private dining room, outdoor dining pavilion, and exclusive Continuum 24/7 Marketplace and Minibar. The development also includes a Continuum Resident’s App, E/V Charging Stations, and Tesla House car for unmatched convenience.
The development caters to all ages with an arcade, virtual lounge, children’s playroom, and outdoor splash pad. For adults, there are workspaces with WiFi, a waterfront boardroom, and an executive lounge. Pet amenities include an outdoor dog park and indoor dog wash and spa.
Continuum Club & Residences is not just a residence; it’s a lifestyle. It’s an opportunity to be part of a community that redefines luxury and convenience.
FAA Greenlights Construction for Supertall Ora By Casa Tua Tower in Brickell
The Federal Aviation Administration (FAA) has recently approved the construction of the Ora By Casa Tua tower in Brickell, marking a significant milestone for high-rise developments. This decision not only alters the city’s skyline but also opens a new realm of investment opportunities.
The FAA’s decision, issued on November 29, permits the Ora By Casa Tua tower to reach an unprecedented height of 1,044 feet above ground, or 1,049 feet above sea level. This supertall stature is a notable increase from the initially planned 930 feet, as indicated in a UDRB filing earlier in May. The property, located at the heart of Brickell, is poised to become a landmark structure that will redefine urban living.
Remarkably, the FAA’s approval came swiftly, with the application filed only in late August and the decision following in just three months. This efficiency signals a conducive environment for real estate development, underlining the speed and agility of regulatory bodies in facilitating significant urban projects.Brickell, known for its vibrant financial district, positions the Ora By Casa Tua tower as a lucrative investment. Its location promises high demand from affluent professionals and businesses, making it a strategic asset.
As a supertall tower, Ora By Casa Tua offers unique residential and commercial spaces with unparalleled views and amenities. This exclusivity enhances its appeal to high-net-worth individuals and luxury businesses.
The FAA’s approval of the Ora By Casa Tua tower is more than just a green light for construction; it is a beacon for astute investors looking to capitalize on unique and high-value real estate opportunities.
