Co-Owner of E11even Nightclub and Partner at Titan Capital Acquired Land at Miami Worldcenter

For $30 million, Lynd Living acquired a Miami Worldcenter development site from a business run by Marc Roberts, co-owner of the E11even nightclub, and Ira Saferstein, a partner at Titan Capital.

The $4 billion master-planned mixed-use project spanning 27 acres in the Park West neighborhood of downtown Miami has added the San Antonio-based company as the newest multifamily developer to the group of apartment builders.

According to public documents, a Lynd associate purchased the roughly 0.5-acre parcel of land at Northwest 10th Street and North Miami Avenue and secured a $22.7 million financing through TIG Romspen US Master Mortgage. According to a news statement, Kevin O’Grady and Justin Neelis from Concord Summit Capital handled the finance and Lynd has hired the company to find a construction loan. Additionally, Concord Summit mediated the sale.

IRR Parkwest Investments, led by Roberts and Saferstein, was sold by the Miami-based legal firm Adams Gallinar, which was represented by attorneys Michael Gallinar and Jason Camps.

A 650-unit apartment building is permitted on the site of the development. A residential tower is being planned, according to David Lynd, CEO of Lynd. “For the time being, we are keeping it quiet. We’ll release more information as we prepare to enter the market.

According to records, the vacant property was a component of a 1-acre assemblage that IRR purchased in 2020 for $26.7 million. The remaining property is still owned by Roberts and Saferstein. Roberts, a former boxing promoter, joined master developers Art Falcone and Nitin Motwani as an early investor in the Miami Worldcenter project in the early 2000s.

In March, the Miami Worldcenter development property at 1016 Northeast Second Avenue was purchased for $40.5 million by the New York-based Naftali Group and Chicago-based Akara Partners. The CEO of Naftali, Miki Naftali, is constructing two residential towers, but the company hasn’t said whether the structures would house condos or apartments.

Adam Neumann, a co-founder of WeWork, received $108 million in construction financing in February for a new apartment building on a bare lot at Miami Worldcenter. It shares a boundary with Caoba, a 40-story apartment complex at 698 Northeast First Avenue. Both the development site and Caoba’s ownership organization were purchased by Neumann.

Highest Penthouse at Paramount Miami Worldcenter is Now For Sale at $10.71 Million

At the current price of $10.71 million, the tallest penthouse in RPC’s Paramount Miami Worldcenter is now for sale.

With sweeping views of Miami from the 57th and 58th floors of the tower, Penthouse 5700 has 5,225 square feet spanning throughout  four bedrooms, five and a half bathrooms, and a den that can be utilized as either a home office or a library in the unit. An open-style chef’s kitchen, floor-to-ceiling windows, double-height ceilings, and plenty of space for entertaining are included in the amenities of the property.

Penthouse 5700 will have access to the building’s 46 amenity spaces, which are the most residential amenities in the world and include the nation’s first outdoor soccer field in a high-rise residential building, resort-style swimming pools, tennis courts, a Tai Chi deck, and a boxing studio.

The purchaser will be residing among celebrities thanks to Paramount’s comprehensive array of sporting amenities, which has drawn a wide range of professional athletes.

Located in Miami Worldcenter, an entire city within a city and the second largest master-planned urban project in the country, Paramount offers walkable access to the best restaurants, cultural and entertainment venues in town. 

The 58-story Paramount Miami Worldcenter, which was completed in August 2019, has 569 condo homes with studio, one, two, and three-bedroom floor layouts, as well as penthouses.

The Paramount Miami Worldcenter’s ordinary tower residences have interior square footage of 1,294 to 2,376 plus balconies, whilst its penthouse residences have interior square footage of 3,509 to 6,000 plus balconies.

The typical condo homes at Paramount Miami Worldcenter have either 11-foot- or 14-foot-deep terraces, private elevators, and 10-foot high ceilings with floor-to-ceiling glass windows.

Eight magnificent bi-level penthouses at Paramount Miami Worldcenter include 20-foot high ceilings, floor to ceiling glass windows, and panoramic views of the city and lagoon.

Elkus Manfredi Architects created Paramount Miami Worldcenter, which was created by Paramount Ventures. ID & Design International created the lobby and common areas.

New-York Developer Proposes Two Super Tall Towers at Miami Worldcenter

New York-based developer, Naftali Group, recently announced their plans to build two residential buildings at the Miami Worldcenter. Naftali is entering the height of the Miami construction boom where the demand for residential units is so great, that they hope to relieve some of the market stress with this new development.

The proposed site located at 1016 Northeast Second Avenue expands over 44,500 square feet which will include retail, co-working space and residential units. The Naftali Group paid $40.5 million for the property after the seller, Akara Partner paid $18.8 million in July 2020. The deal has been in the works since last year.

Pre-sales for the two ‘supertall’ towers are planned to begin by the end of the year. Naftali has stated they they are not sure whether that the project will include condos, apartments, or both.

In a statement released by the developer, they have be actively looking at sites in Miami for the past 9 months and the owner believes the property is “a truly unique opportunity to develop in the downtown Miami urban core.”

Additional details about the development will be released in the next few months.

Naftali Group has also purchased an 8,227 square foot lot on Eleventh Street across from the Metromover Station. This lot will allow a project up to 1.3 million square feet. Naftali Group has a mixed portfolio including 37 residential project totaling $12 billion in value.

The Miami Worldcenter is designed around several projects which encompass residential towers, commercial properties, entertainment, and retail that spans 27 acres.

Construction on Miami World Center ‘Jewel Box’ Begins

Miami Worldcenter is a 27-acre urban destination development that will bring new businesses, real estate opportunities, and most of all a new energy to downtown Miami. This site will be a unique blend of commercial and residential towers including Paramount Miami Worldcenter, Miami Worldtower, and Legacy Tower.

Construction for the signature “Jewel Box” in the middle of Miami Worldcenter will feature a retail building that will be located at 150 N.E. Eighth Street. The 2-story tower will boast 78,000 square feet of retail space with a rooftop terrace and public gathering space.

Developed by Miami-based Miami Worldcenter Associated and Los Angeles-based CIM Group. The Jewel Box will be designed by Coral Gables-based Nichols Brosch Wurst Wolfe & Associates.

Managing partner of Miami Worldcenter Associates stated, “The final elements of this world-class retail development plan are coming together, and the design and concept for the signature ‘Jewel Box’ element reflects the strong feedback we’ve received from brands from around the world and across South Florida.”

The jewel box will feature floor-to-ceiling glass that will reflect the outside elements that will create a jewel-like effect. Mixing the designs of a boutique retail space and diverse entertainment, the jewel box will be the “go-to” place for all Miami residences.

Construction for the jewel box is currently underway and the anticipated completion date is scheduled for the summer of 2022. Once the full Miami Worldcenter project is complete, the developers are estimating that the cost of the project is $4 billion.

The jewel box is a part of the 130,000 square feet of retail that is already under construction at the Miami Worldcenter with another 150,000 square feet already completed.