Tag Archives: north miami beach

Nexo Residences Townhouse Aerial

Nexo Residences Unveils Townhome Series

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Nexo Residences Townhouse Aerial

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.

Nexo Residences Exterior

Nexo Residences Breaks Ground in North Miami Beach

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Nexo Residences in North Miami Beach

In the heart of North Miami Beach, Fortune International Group, in partnership with Blue Road, has embarked on a groundbreaking venture: the Nexo Residences. This 15-story luxury condominium project, located at 13899 Biscayne Boulevard, is poised to redefine urban living with its innovative home-sharing capabilities.

The architectural brilliance of Frankel Benayoun Architects Inc., combined with insights from the globally acclaimed architect Carlos Ott, has shaped the design of Nexo Residences. Furthermore, the interiors, common areas, and landscaping have been meticulously crafted by Urban Robot. The development boasts 254 fully furnished residences, allowing homeowners unparalleled autonomy in their property’s utilization. These residences range from cozy studios to expansive four-bedroom townhomes, with sizes varying from 531 to 2,190 interior square feet. With prices commencing from the mid $600s, this project offers a diverse portfolio for potential investors.

Edgardo Defortuna, the CEO of Fortune International Group, expressed his enthusiasm, stating, “Nexo Residences has garnered significant attention from global buyers and investors. Its strategic location, coupled with top-tier amenities and the unique opportunity for homeowners to lease their units, aligns perfectly with Fortune’s vision of pioneering projects that consistently exceed expectations through innovation and meticulous attention to detail.”

The name “Nexo,” translating to “nexus” in Spanish, encapsulates the essence of this project. It serves as a pivotal junction, bridging crucial elements and making it an attractive proposition for short-term renters in this burgeoning submarket. The rental flexibility, complemented by a professional management team overseeing operations, enhances its appeal for potential investors.

Jorge Savloff, CEO of Blue Road, highlighted the strategic advantage of the location, emphasizing its proximity to iconic South Florida attractions like the Bal Harbour Shops, Aventura Mall, and a plethora of upscale dining and entertainment venues. He added, “Nexo Residences offers a more family-centric alternative to the bustling tourist hubs of Miami, ensuring a comprehensive and enriching experience for all.”

The amenities at Nexo Residences resonate with the South Florida vacation spirit, catering to both work and leisure. Features include a grand three-story arrival lobby, a state-of-the-art tech hub with coworking spaces, a lavish pool deck, fitness facilities, and a rooftop observatory deck offering panoramic southern vistas. Additionally, entertainment options abound with an outdoor cinema, a versatile clubroom, and a dedicated children’s play area.

An added allure for international investors is the property’s EB-5 designation. This provides a golden opportunity for foreign nationals to embark on the path to U.S. citizenship by investing a minimum of $800,000 in Nexo Residences and adhering to the stipulations set by the United States Citizenship and Immigration Services (USCIS).

Strategically positioned, Nexo Residences offers proximity to business and leisure hubs like Bal Harbour, Aventura, and Sunny Isles. Its location on Biscayne Boulevard, near the Intracoastal Waterway, and equidistant from major airports, further accentuates its appeal for global investors.

Nexo Residences presents a compelling investment narrative blending luxury, flexibility, and strategic location into a package that promises significant returns.

The Raleigh Rosewood Hotel and Residences

New York-Based Shvo Obtains Construction Loan for Miami Beach Hotel to Add Condo Tower to Development

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The Raleigh Rosewood Hotel and Residences

New York-based Shvo recently secured a $190 million construction loan for The Raleigh Hotel in Miami Beach to add a condo development.

Currently, the site includes The Raleigh, the Richmond Hotel, and the South Seas Hotel. The three hotels were put together by the developers for $242.85 million in 2019. At the time, the property was secured by a $146.9 million loan from Acore Capital Management.

The developers might be able to remove equity from the project and move the work along if they take out a loan for a higher sum. According to the developer, the hotel contributed over $1 billion to the project, including over $300 million in stock.

The hotel is closed while work is being done on the premises. The Raleigh will have 60 suites under Rosewood Hotels & Resorts’ management when it reopens in 2026. The developer is also constructing a high-end restaurant with a private member’s club and a 17-story condo with 42 flats that bears the Rosewood brand.

The 1940s saw the development of the Raleigh. The curving pool, the Martini Bar, and the Tiger Room are just a few of the hotel’s distinctive characteristics that will be preserved by Shvo.

To design the project, Shvo hired New York-based architect Peter Marino and Miami-based Kobi Karp Architecture.

Former Raleigh project investor Bilgili Group, based in Turkey, has pulled out of the project.

Prestige Boardwalk North Miami Beach

Former NFL Player Proposes 15-Tower Mixed-Use Project in North Miami Beach

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Prestige Boardwalk North Miami Beach

A company headed by former NFL player and Pro Bowler Elvis Dumervil, now a real estate developer, plans to transform a dilapidated apartment building in North Miami Beach into a 15-story mixed-use development.

The city’s Planning and Zoning Board will discuss proposals for Prestige Boardwalk on the 2.28-acre site at 16651 N.E. 18th Ave. in a town meeting today. The existing 94 flats on the property were constructed between 1957 and 1961.

In 2018, Prestige Boardwalk LLC, run by Dumervil of Prestige Estates in North Miami, paid $9.5 million for the property.

The current apartment building would be replaced with two buildings housing 409 units, 11,151 square feet of retail space, and a 642-space parking garage with 126 spots designated for electric vehicle charging. Additionally, there would be pedestrian bridges connecting the two buildings on the second and eighth levels, as well as a pool/amenity deck on the eighth floor. A boardwalk would run beside the Snake Creek Canal.

Between 578 to 1,316 square feet would be available in each unit. There would be 57 three-bedroom units, 34 studio apartments, 167 one-bedroom apartments, and 151 two-bedroom flats.

The Miami-based Zyscovich Architects firm created Prestige Boardwalk.

Dumervil founded Prestige Estates following a successful NFL career. He was a linebacker who participated in five Pro Bowls while playing for the San Francisco 49ers, Baltimore Ravens, and Denver Broncos. The North Miami neighborhood where Dumervil grew up has seen hundreds of flats purchased by Prestige Estates.

Nexo Residences Townhouse Aerial

Nexo Residences in North Miami Beach Completion Date Set for 2025

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Nexo Residences North Miami Beach

Nexo Residences North Miami Beach will rise 15 stories tall and feature 254 units. With construction continuing for the project, the completion date was officially announced for 2025.

Nexo Residences is located at 13899 Biscayne Boulevard, North Miami Beach, Florida, 33181. The developers for this project include Blue Road and Fortune International Group. The landscape architect for Nexo Residences is Urban Root, and the building was designed by Frankel Benayoun Architects Inc. Homes range from $500k to $2.2 million.

Floor plans will range from 531 to 2,092 square fee with studio to four bedrooms layout options.

Residence Features:

  • Fully furnished and finished
  • Floor-to-ceiling windows
  • Porcelain flooring
  • Built-in bedroom closets
  • Dedicated lockable owners’ closets
  • Expansive balconies with glass railings
  • European style kitchens
  • Quartz counters
  • Matte black fixtures
  • Smart key access
  • Self-service package system
  • 10 to 15 foot ceilings

Amenities

  • Lounge
  • Tech hub with a café and coworking space
  • Playground
  • Clubroom
  • Fitness center with a yoga studio and virtual trainer
  • Rooftop observatory deck
  • Pool deck
  • Private event area
  • Movie theater
  • Summer kitchens
  • Fire-pit lounges
  • Hammock lounge

If you or someone you know have an interest in purchasing at Nexo Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.

BH Group Announces New Tower in North Miami Beach

Plans for a 30 Story Tower in North Miami Beach are Announced by BH Group

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After purchasing land in North Miami Beach, developer BH Group is planning a 30-story residential structure located at 2261 N.E. 164th Street.

The 1.96-acre site was sold by CK Prive Group 164 LLC, controlled by Bruno Bloch in North Miami Beach, to the BH Group in Aventura for $11 million.  The property increased in value since it was last sold for $8.3 million in 2016.

Currently on the property is a 1969-built warehouse of 35,538 square feet. The warehouse will be destroyed, according to BH Group, and a skyscraper with 400 luxurious residential units will be built in its place.

CFE Architects of Miami Lakes will be the architect for the project.

After the city rezoned a significant portion of its east side to allow for higher density and mixed-use development, North Miami Beach has been experiencing an increase in commercial and residential developments.

BH Group has been purchasing sites all over South Florida. The business frequently collaborates with Miami-based Related Group including District 225 condo in downtown Miami, a condo on Fisher Island, a waterfront condo in North Miami, the Transit Village mixed-use project in West Palm Beach, and condos on Bay Harbor Islands.

Echad Holdings LLC and Kobi Karp's New Rendering

Three Tower Development Proposed in North Miami Beach

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801 NE 167 Street Echad Holdings LLC
Photo Credit: Kobi Karp

Echad Holdings LLC. has officially proposed a three-tower development in North Miami Beach. Managed by Aviva and Chaim Druin, Echad Holdings LLC’s website states that they are a real estate investment and property management company.

The proposed site is located at 851 N.E. 167th Street intersecting with Gloden Glades Drive. On the current 2.1 acre lot sits a 45,728 square foot office building that will be demolished in the initial phases of construction, once approved. The office building was constructed in 1973.

Two of the towers are planned to be 15 stories and the 3rd story is planned for 10 stories. It will be a combined 464,807 square feet with 77,856 square feet allocated to office space and 12,258 square feet for retail. The plan includes 223 condo and hotels rooms, 3,866 square feet of restaurants, and 526 parking spaces.

The pool would be located at the 10-story tower on the 10th floor of the amenity deck. The plans refer to the condo units as ‘extended-stay’ rooms but will be sold as condos. These units will include 143 one-bedroom and 80 two-bedroom units, all with full kitchens.

Echad Holdings LLC acquired the property in 2015 for $5.6 million. More recently, the city rezoned the area for a mixed-use development. The Miami-based designer for this project is well-known Kobi Karp Architects who have designed Arte, Legacy Hotel & Residences, and 1300 Ponce.

North Miami Beach’s Planning and Zoning Board are scheduled to meet on September 20th to discuss the plans. If approved, the construction is scheduled to begin in 2022.

Echad Holdings LLC and Kobi Karp's New Rendering
Photo Credit: Kobi Karp