Ian Bruce Eichner Officially Launches Sales for La Baia Bay Harbor Islands
Sales for the second tower at Ian Bruce Eichner’s beachfront condo development La BaiaBay Harbor Islands North have officially started.
The North development will have floor plans with two, three, and four bedrooms that are between 1,400 square feet and 2,100 square feet in size. The most expensive units are priced at $3.5 million.
Sales for La Baia South began in October of last year. Eichner is best known as the creator of the two-tower Continuum in South Beach. According to the press release, the 68-unit, eight-story building at 9201 East Bay Harbor Drive had condos starting at $810,000 and sold out in less than six months. La Baia South’s construction began in April, and Eichner anticipates finishing the project in 2023.
La Baia will feature 30,000 square feet of amenities, which include a rooftop amenity deck, lounge with a bar, spa, fitness center, teen’s gaming center, dog grooming center, and marina. The marina itself will feature 20 private boat slips.
La Baia was designed by architect Luis Revuelta with Boston-based Suffolk Construction as the general contractor.
Residence Features
1 to 4-bedroom options
1,100 to 2,500 square feet
Residences will be fully finished and furnished
9 to 10-foot ceilings
His and her walk-in closets
Balconies with glass railings
Underground parking spots for each owner
Custom Italian cabinetry by Snaidero
Miele appliances
Quartz stone countertops
Hansgrohe fixtures
Primary bathroom features marble flooring and rainfall showers
Tower Features
Private 20-boat marina
Scenic walkways
30,000 square feet of amenities
Rooftop amenity deck
Lounge with a bar
Spa
Fitness center
Teen’s gaming center
Pet grooming center
According to records, the developer purchased the land in 2021 for $12 million.
If you or someone you know have an interest in purchasing one of the units at La Baia Bay Harbor Islands North, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
New Renderings Released and Plans Updated for 888 Brickell Tower
For the new construction tower 888 Brickell, located in the heart of Brickell, JDS Development Group has submitted updated blueprints to the Miami-Dade County review committee.
The tower will still be built to a supertall height of precisely 1,049 feet or 82 stories, which is the highest height allowed in Brickell.
888 Brickell will still feature 259 luxury units but some of the changes include 52,144 square feet of fitness areas, 38,727 square feet of restaurant space, and over 250 parking spaces.
ODP is listed as the official architect, with Studio Sofield still named as the building’s designer.
JDS Development originally partnered with Major Food Group on the project but Major is no longer involved in the partnership. According to the announcement about the updated plans, JDS plans to reveal a potential new partner in the coming months.
New renderings have also been released and prices are expected to range from $1.6 to $11 million.
New York Developers Purchase Site to Build a Two Tower Residential Project for $40.5 Million
The Namdar Group recently purchased a development site for $40.5 million with plans to construct a two-tower residential and apartment project in downtown Miami.
According to county records, the New York-based company purchased 1.3 acres in two agreements at 50 and 60 Northeast Third Street and at 222 and 234 Northeast First Avenue.
Namdar additionally obtained a $195 million loan for the purchase and development of the skyscrapers. Scale Lending, a subsidiary of Slate Property Group, supplied the funding.
A 41-story structure with 640 units and a 43-story building with 714 units would make up the proposed Namdar Towers, which would have combined square footage of more than 1.2 million.
According to records, entities led by Daniel Stone paid $30.5 million for the parking lot and land at 50, 60, and 222 Northeast First Avenue as well as the parking lot at 50 and 60 Northeast Third Street.
The retail building at 234 Northeast First Avenue was sold for $10 million by a partner of Jaime and Esther Waserstein, who founded the ShoeGallery company in Miami. There is a ShoeGallery store on the premises.
According to its website, Namdar is a family-owned development company that was established in 1979. Ephraim Namdar, who has previously been named in media sources as the company’s founder and CEO, is in charge of running the LLC that bought the Miami property.
Igal Namdar’s commercial real estate investment company, Namdar Realty Group, which buys bankrupt retail centers, also has a New York address that is shared by Namdar.
The Journal Square district of Jersey City has seen activity from the corporation. According to the real estate website Jersey Digs, Namdar completed the tops of two mixed-use towers with a total of 27 stories and 667 residences in July.
Namdar Towers would be the newest development in downtown Miami, which has attracted the attention of multifamily developers.
A 48-story tower with 1,200 flats is what Jorge and Jon Paul Pérez’s Related Group and ROVR Development hope to erect at the site of the College Station Garage at 190 Northeast Third Street. The Namdar Towers location is direct across the street from this one.
The 57-story, 675-unit M Tower is what Lions Group NYC and Fortis Design + Build hope to erect at 56, 70, and 65 Southwest Second Street.
Hyatt and Gencom plan to transform the James L. Knight Center and adjoining Hyatt Regency Miami hotel into a three-tower complex called Miami Riverbridge as part of another downtown redevelopment. 1,500 apartments, a new Hyatt hotel with 615 rooms and 264 service-branded flats, as well as a 190,000-square-foot conference center are all part of the plans.
A referendum on the plan will be held in November.
New York Developer Acquires Belmar Condominium in Edgewater for a Potential New Development Site
Another potential development site in Miami’s Edgewater neighborhood has been acquired by a New York condo and multifamily developer.
According to public documents, a company managed by Joseph Stern, the principal of SB Development, paid $12 million for all 13 apartments of the Belmar Condominium at 419 Northeast 19th Street. The price per condo for the group purchase is $923,076. To pay for the transaction, the buyer got a $14 million loan from Rok Lending, a company based in Aventura.
Between the 1970s and the 1990s, several of the sellers who bought units made substantial profits on their purchases. In 1973, when Belmar was finished, Francesca, Monica, and David Vila paid $36,000 for a two-bedroom apartment, according to documents. Leopoldo Colon and Kenneth Merker, who are on the board of the Belmar condominium, paid $40,00 and $41,00 for their respective apartments in 1993 and 1994. After Stern’s company completed the bulk sale, the condo association was disbanded, according to records.
The five-story Belmar, which is tucked up against the Cité on the Bay Condominium, might be SB Development’s upcoming renovation endeavor in Edgewater. There are no plans on file with the city of Miami.
For $12.2 million, SB and its joint venture partner Hazelton Capital Group purchased a five-bedroom home at 480 Northeast 29th Street as well as two nearby vacant properties. The land is zoned for up to 38 floors, and the partnership aims to build a boutique apartment tower with a bayfront restaurant on the ground floor.
According to the company website, SB, which was founded in 2010, has more than 500,000 square feet of projects in various stages of development, from townhomes to high-rise buildings. For a construction site in Long Island City where the company intends to construct a $70 million, 24-story apartment tower, SB paid $15.2 million in 2019. SB also contributed to the development of Williamsburg’s Dime, a mixed-use housing and retail complex.
New Renderings Revealed for Brickell Gateway Miami
Gazit Horizon in collaboration with Atlantic Pacific, has recently released new renderings for the 61 story tower, Brickell Gateway in Miami’s Brickell. The developers for Brickell Gateway tower are also waiting on the county planners for final clearance of the project.
Located at 90 SW 8th Street next to Brickell City Centre, will be the Brickell Gateway Tower. The 377,000 square foot project will bring residential units, office spaces, a hotel concept, and retail to the neighborhood.
The final submission to Miami-Dade on July 22 states that Brickell Gateway will rise 747 feet above ground and comprise the following:
18,287 sq. ft. of retail space located on the first 2 floors
348 parking spaces
504 residential units
The developers are taking advantage of the property’s position in a rapid transit zone, which enables assessment by county planners, rather than going through the City of Miami planners.
Gazit Horizons acquired the land in July 2017 for $29.5 million and March 1, 2021.
Demolition on the site has been completed and once approved, the groundbreaking will be scheduled for Winter 2022. Corwil is listed as the architect for this project.
Location Ventures Proposes a 16 Story Condo Tower in Coral Gables
Coral Gables’ continued growth is being hinted at by Rishi Kapoor’s, Location Ventures’ proposal for a 16-story condominium. According to documents submitted to Coral Gables, Location Ventures plans to construct an 87 condo tower on a 1.6-acre plot at 1505 Ponce De Leon Boulevard, as well as at 122 and 126 Menores Avenue.
According to the minutes of the June meeting of the Coral Gables Planning & Zoning Board, the developer has a contract with the seller, who is a partner of Tibor Hollo’s Florida East Coast Realty, to purchase the land.
At its meeting on Tuesday, the municipal commission is anticipated to vote on the request. In the event that the proposal is authorized, commissioners will vote on it a second time at the next meeting.
According to documents, Coral Gables-based Location Ventures intends for seven of the units to be live-work condos on the lower levels of the structure and the other 80 would be located on the upper levels. A 319-car garage, 10,500 square feet of retail space, 20,144 square feet of open space, and a public dog park would also be included in the project.
According to property records, the site is mostly empty save from a two-story, eight-unit apartment structure. According to the minutes of the planning & zoning board meeting, the historic structure, built in 1925, will be maintained and integrated into the project, maybe as retail space.
The finished 13-story, 39-unit Villa Valencia condominium at 515 Valencia Avenue is one of the company’s developments in Coral Gables. In 2018, Location Ventures had invested $16 million in the property.
The business spent $20 million buying a pair of commercial structures in Miami Beach at 1260 and 1234 Washington Avenue last year. Under Location Ventures’ Urban co-living brand, the 1260 Washington Avenue property will be refurbished, while the 1234 Washington Avenue building will be rehabilitated.
Cavalli Tower Proposed at Champlain Tower South Site
DAMAC Properties recently announced that it has officially received approval to purchase land in the Surfside neighborhood of Miami in a $120 million deal. This land is none other than the site where the Champlain Tower South deadly collapse occurred just last year. DAMAC Properties intends on building a luxury branded tower on the site, Cavalli.
The site itself is located at 8777 Collins Ave Surfside featuring 1.8 acres and was sold to DAMAC through a court process and without any other competing bids on the property.
Prior to DAMAC taking an interest in the site, it was listed for $95.6 million. Sajwani offered the $120 million with the stipulation that he would obtain possession by the spring of 2022. One of the other stipulations was that Sajwani had to pay a $16 million deposit to make the contract valid.
Hussain Sajwani, Founder and Chairman of DAMAC Properties stated, “DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings.”
While this is Sajwani’s first United States development, he has an extensive portfolio with establishments of his company in global cities like Dubai, Abu Dhabi, Amman, Baghdad, and London. Sajwani has heavily invested in luxury fashion, real estate, hospitality, and manufacturing.
According to Sajwani, “Our global expansion into the United States marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. This is an exciting time, and we have a lot in store.”
Two Roads Development Buys $150 Million Edgewater Site for a 3 Tower Project
Two Roads Development recently purchased a $150 million development site in Miami’s Edgewater neighborhood, with the intent to build a 3-tower luxury condominium complex.
With the purchase of Biscayne 21, a 1960s-era condo with 191 units, Two Roads obtained the 3.5-acre beachfront lot located at 2121 North Bayshore Drive for $150 million.
Arquitectonica’s Bernardo Fort-Brescia will design the tower, which will contain branded apartments and luxury condo units.
Three Roads Development plans to build the 3 towers rising 60 stories tall or about 649 feet tall with up to 750 residential units and apartments.
The sellers which include 176 unit owners, were represented by an Avison Young team led by John Crotty and Michael Fay. More than two years ago, the unit owners came together and hired Avison Young to offer their property in bulk to Two Roads Development.
According to the Avison Young team, the unit owners were able “to negotiate for a multiple of more than three times what the sellers would have sold their individual units for on a one-off basis.”
Two Roads is a West Palm Beach and Miami-based developer that is known for its other towers including Elysee and Biscayne Beach.
First Rendering Revealed of New Supertall Tower by Major Food Group-Major Residences
JDS Development Group has partnered with Major Food Group to build one of the tallest residential towers in Brickell. Today, the developer has released the first official rendering along with some construction updates.
The project (now renamed 888) will be located at 888 Brickell Avenue with 259 branded units. Rising 82 stories or 1,049 feet tall and just over 1 million square feet in, this will be Major Food Groups’ first residential project.
Studio Sofield is the architect designing the tower, lobby, and units. Ken Fulk Inc. will be responsible for the club, food, and beverage spaces.
With Major Food Group expansion in South Florida with Carbone, ZZ’s, and many more, you can expect to have 2 to 3 Major Food Group restaurants and bars.
Major Food Group has more than 30 restaurants, clubs, and hotels in the United States and overseas. This project is currently being reviewed by Miami-Dade planners for approval.
There are currently 8 supertall towers planned for Miami including:
