Related Group Secures 18,000 Square Foot Lot in Edgewater for Development

Related Secures Vacant Land in Edgewater
Related Secures Vacant Land in Edgewater

Leading developer Related Group has purchased an 18,000-square-foot land piece in Edgewater, Miami, consisting of three adjacent sites in collaboration with Alex Karakhanian of LNDMRK.

The homes, which are located at 519, 525, and 535 Northeast 29th Street, are in a prime location and provide breathtaking views of Biscayne Bay as well as easy access to the MacArthur Bridge, which connects Edgewater to Miami Beach, and the I-195, which offers a direct route to Fort Lauderdale and Palm Beach. The majority of the undeveloped plot cost $12 million to buy.

According to the President of Related, Nick Perez, “Related identified the growth potential of Edgewater years ago, when we delivered the transformational, four-tower Paraiso Bay community along with Edgewater’s first five-star waterfront restaurant, Amara at Paraiso.

Edgewater offers it all- prime waterfront views, world-class culinary offerings, and easy access to other key hubs, from the Design District to Miami Beach. This newest acquisition is another step forward in our efforts to solidify the area as a true hot spot.”

The site’s particular development plans are still a secret. The land, according to public records, is designated T6-36-A, which allows for the building of up to 36 floors and 150 units per acre. About 60 units might be created within the permitted parameters without the need for further bonuses.

Joel Rodriguez and Alex Suarez of Global Investment Realty served as the deal’s brokers, and PPD Edgewater LLC, run by Esteban Koffsman, was the seller. A well-known real estate firm called LNDMRK Development focuses on finding, acquiring, and building commercial, residential, and mixed-use developments all across the Southeastern United States. Along with The Dorsey and Nomad Residences Wynwood, both of which are in Wynwood, Related and LNDMRK are actively looking for more joint venture options throughout South Florida.

Significant Archaeological Find In Miami From A 7,000-Year-Old Settlement at New Construction Site

Related Group Finds 7000 Year Old Objects at New Construction Site
Related Group Finds 7000 Year Old Objects at New Construction Site

For the last 18 months, archaeologists have been excavating at a new development site on the Miami River, where developer Related Group plans to build three residential towers.

Researchers claim to have discovered a significant archaeological discovery at the location, including 7,000-year-old relics and other proof that the area was once occupied by prehistoric people.

One of the towers will include Baccarat Residences Miami. Ancient artifacts and fossils found at the site are giving researchers a glimpse into a civilization that once thrived along the river. One of the earliest populations in the region is thought to have been the Tequesta people.

Will Pestle, a bioarchaeologist and University of Miami Professor stated “There is a very important ceramic phase of this site so there is pottery, broken pieces of pottery, there are stone tools, arrowheads, projectile points, abundant animal remains, deer and fish, but there are also remains of sharks. There are remains of giant sea turtles, remains of whales, remains of an extinct kind of seal, the West Indian monk seal.”

The Miami Professor also stated that the site could date back to as early as 7,000 years which he states is older than the pyramids in Egypt and Colosseum in Rome.

The site is significant and they believe it to be “potentially eligible for listing in the National Register of Historic Places based on criterion D, that it contains well-preserved cultural deposits that could contribute to our knowledge of prehistoric subsistence and settlement patterns,” according to a 2021 report submitted to the city by Archaeological and Historical Conservancy, Inc. Additionally, the location has human remains that fall under Chapter 872.05 of the Florida Statutes.

According to the group, archaeologists have “collected cultural material” that includes “tools and jewelry made of stone, shell, and bone. Ecofacts contain animal teeth and bones as well as shells that indicate food waste.

According to the paper, “Other elements of importance include wood, seeds, and charcoal. Historical artifacts include some items connected to European interaction, most likely Spanish artifacts from the seventeenth and eighteenth centuries. The objects connected to Miami’s American settlers from the nineteenth century are among the additional historical items.

Pestle also stated, “Let’s design the buildings in such a way that what is there can be preserved and seen by the public visiting, so when you walk into that Baccarat hotel, which is going to be on the parcel that is currently being excavated, you can see through a glass floor and you can see the ancient remnants of this city.”

On April 4th the Historic and Environmental Preservation Board is meeting to discuss the importance of the findings as well as the procedures that were followed in the excavation.

Invite Only New Construction Luxury 50 Unit Condominium to Break Ground on Fisher Island Miami

Related Group Announces Fisher Island New Construction Project Announced
Related Group Announces Fisher Island New Construction Project Announced

The Related Group is making waves in South Florida with their newest condominium project on the exclusive Fisher Island. The invitation only condo tower would include 50 luxury residences with a select number of penthouses.

The wealthy have long made Fisher Island, which is located at the confluence of Biscayne Bay and the Atlantic Ocean and is a seven-minute ferry trip from Miami Beach.

Oprah, Julia Roberts, and Mel Brooks are all known to have lived on Fisher Island in the past. The enclave has also received some accolades: Bloomberg found in April 2018 that Fisher Island, with an average income of $2.5 million in 2015, was America’s wealthiest ZIP code.

According to Jon Paul Perez, Related’s President stated, “We are currently working with our sales teams to develop our list of VIPs. People can live their entire lives on the island and, as such, develop close relationships with neighbors and fellow residents. That’s the feeling we want to create at our job. We want our buyers to get to know one another, and forge close friendships that elevate this beyond just another one of their homes.”

The proposed condo site, which is the last developable parcel on the 216-acre island, was just purchased for $122.6 million by Related Group, billionaire tycoon Teddy Sagi, BH Group, and Wanxiang America RE Group.

When the unnamed property is finished, units will cost about $30 million, while penthouses will cost more than $60 million.

Project Details:

  • 3 to 5 bedroom residences
  • Membership to Fisher Island Club
    • Golf course
    • Tennis facilities
    • Marinas

The project’s architect is listed as Kobi Karl with interiors by Tara Bernerd and Partners.

Sales are expected to begin at the end of 2022 with construction anticipated in quarter 4 of 2023.

Related Group Proposes 15 Story Residential Development on Biscayne Bay in North Miami

Icon Residences North Miami
Icon Residences Rendering

The Related Group has officially submitted plans for a new development located in North Miami, Icon Residences. The development is projected to cost around $150-million and rise 15-story project sited on a one-acre tract of land at 2305 NE 123 Street. The site currently is occupied by the two-story White House Inn, which was built in 1969, closed in 2014, and vacant.

Icon Residences will feature 54 luxury residences, each costing an eye-popping $4.6 million, to be built right at the Shepard Broad Causeway’s entrance, with views across Biscayne Bay to the towers of Sunny Isles Beach to the northeast and due east across Bay Harbor Islands to Bal Harbour – as well as the yards and windows of the single-family homes of Keystone Point just north across the canal. The site would also allow for 184 feet of water frontage.

The Related Group is requesting that the city increase the building height limit on the land from 35 feet to 169 feet, which is the identical height of the Majorca Bay tower located at 11930 N Bayshore Dr., just a few blocks over. The entire height of Icon Residences would be 184 feet, including the 15-foot mechanical plant near the rooftop swimming pool.

Between the White House Inn site and Majorca Bay, related and other entities are considering or preparing a future skyline of structures of similar height. The White House Inn site is presently limited to 35 feet of construction under North Miami’s 2017 Comprehensive Plan, whereas the bayfront land to the south is permitted to 115 feet.

The Keystone Homeowners Association, which covers the area of more than 900 properties, held a full community meeting on May 19 in the recently opened Wildcat Center at 1600 NE 126th St. to discuss their frustrations with this project.

Pedro Gassant, a Holland & Knight partner representing the Related Group, made his best case, claiming that the Icon project would eliminate the vagrancy and illicit dealings currently plaguing the site and bring in $1.7 million in tax revenue in the first year and $45 million over 20 years for the cash-strapped city.

A 184-foot structure, according to Eric Riel, an urban planner who has lived within 500 feet of the projected skyscraper, is incompatible with the single-family dwellings shown immediately across the canal.

The new North Miami Planning Commission meeting is scheduled for June 28th at 7pm at North Miami City Hall.

Groundbreaking Officially Scheduled for District 225

District 225 in Downtown Miami
District 225 in Downtown Miami

Developers for one of the newest pre-construction towers in downtown Miami, District 225, have officially scheduled the groundbreaking for the third quarter of this year.

The Related Group along with ROVR Development and BH Group have been working tirelessly on the sales ever since the launch of the tower in 2021. Since then the development has 100% sold out.

District 225 will rise 37 stories tall and be built without a parking garage and will also be one of the first tower with direct listings on Airbnb.

The buyers for the tower included domestic transplants, remote workers, and domestic transplants as well as 50% of the buyers coming from South America.

According to Jon Paul Pérez, President of Related, “We launched District 225 as an experiment of sorts. And while we knew this unique product would resonate with buyers, the demand has surpassed even our most optimistic projections. Related has long been at the forefront of trends, and we are proud to once again be at the cutting-edge of the market.”

What makes this project unique is its home-sharing capabilities as well as its resort-style amenities. Siegler Suarez Architects partnered with Meshberg Group will be responsible for the design.

District 225 will total 343 unit spanning over 288,400 square feet with studios to 2 bedroom floor plans. Studio pricing will begin around $350,000 up to $700,000 for the 2-bedroom floor plans. There will also be 2,297 square feet of commercial space located on the main floor. 

District 225 Amenities

  • Rooftop pool
  • Fitness center
  • Indoor/outdoor basketball court
  • Racquetball court
  • Rock-climbing wall
  • Yoga/spinning studio
  • Coworking spaces
  • Lounge with billiard tables
  • Summer kitchen

Residence Amenities

  • Views of Biscayne Bay and Miami skyline
  • Fully finished and furnished studios, one-, and two-bedroom residences
  • 9.8-foot-high ceilings
  • Smart-home technology experience for seamless personalization with the touch of a button
  • Interiors designed by award-winning interior design firm Meshberg Design
  • Fully built-out closets in all residences curated by Meshberg Design
  • Includes integrated audio, video, window treatment, and lighting systems
  • Equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
  • Built-in, top-of-the-line washer and dryer
  • Flooring selections included with specifications recommended by Meshberg Design
  • Pre-wired for high-speed communications and data connection
  • Kitchens featuring custom Italian cabinetry curated by Meshberg Design
  • Smeg appliance package including an integrated, paneled microwave; dishwasher; built-in convection oven; and refrigerator/freezer
  • Master baths featuring rainfall showerhead and custom Italian vanities
  • Dornbracht and Duravit bathroom fixtures, features, and accessories

The building will be professionally managed by Atlantic & Pacific, which will have staff educated in all elements of Airbnb hosting, including listing, marketing, maintenance, and cleaning.

Notable Real Estate Developers Purchase the White House Inn Property in North Miami

White House Inn Motel
White House Inn Motel
Location for the Related Group's Newest Tower

Teddy Sagi and Jorge Pérez, Miami’s most notable real estate investors, have chosen their second South Florida property to invest in: the White House Inn at the gateway to North Miami. What once was a motel that opened its doors in 1969 later became a dilapidated building that saw many problems throughout the years, which later closed in 2014.

Along with BH Group, Pérez’s Related Group, and Sagi’s LabTech Investments Limited are teaming up to buy the waterfront property located at 2305 Northeast 123rd Street.

The 1-acre property is expected to be redeveloped into a luxury apartment complex that would cost around $85 million. Sagi and Pérez are expected to close on the $11 million sale next week.

The North Miami property was sold by a firm led by Mario Murgado, the owner of Murgado Automotive Group for $7.8 million in 2014. Murgado planned to demolish the White House Inn and replace it with a seven-story Ocean Cadillac dealership with a self-contained parking structure, top-floor showroom, and ground-floor restaurant.

Local residents were outspoken in their opposition to the dealership, fearing that it would bring a flood of traffic to the neighborhood. Later Murgado proposed an 11-story tower, Biscayne Harbour, that was approved by the city council but was never finished.

“One of those rare bayfront sites that’s gone underutilized for far too long,” and that the partnership plans to give North Miami “the entrance it deserves,” according to Pérez.

Not only is Pérez known for his work with the Related Group but he is a big player in the residential market as well. In July, he sold his Coconut Grove mansion for $33 million. Pérez also sold his Apogee Beach penthouse for $6 million.

The Related Group Plans for Demolition of Site for New Tower-Miami Station

Related Group Plans New Tower
Related Group Plans New Tower

In January 2021, the developer, the Related Group revealed plans for a proposed transit-oriented tower called Miami Station. Now, plans are rolling out to begin demolition and preparation for construction.

The pre-construction site located at 525-533 NW 2nd Ave in the Overtown district of Miami recently filed to begin demolishing the current parking garage that sits on the site. The remains of the parking garage is that of the Logik office tower that stopped mid-construction during the recession in 2008. The concrete shell of the garage has never been utilized.

A separate lot is adjacent to MiamiCentral Station and is also the former site of the Krystal Tower that was never completed. A separate lot next door with the once planned tower, Avery MiamiCentral will eventually be added to the Miami Station site plan.

Once construction begins, the proposed tower will rise 41 stories at 459 feet tall. The proposed plans would include 309 apartments, over 200,000 square feet of office space, over 8,000 square feet of retail, and 510 parking spaces.

Units will feature studio to 3 bedroom floor plans a well as a few penthouse units ranging from 460 to 1428 square feet of living space.

The office space will occupy the first 12 floors with 13-foot slab to slab heights. The residential units will occupy the higher floors with 10-foot slab to slab heights.

Development Information

  • Developer: The Related Group
  • Demolition Contractor: BG Group
  • Architect: ODP
  • Structural engineer: B+J Consulting Engineers
  • MEP Engineer: Feller Engineering
  • Landscape Architect: Dixie Landscape
  • Exterior and Finishes: Facade +Envelope

Amenities

  • 22nd-floor amenity deck
  • rooftop pool
  • Landscaped deck
  • Dog park
  • Several outdoor terraces

The date for the groundbreaking has not been set.

SLS Brickell’s Jose Andres & Michael Schwartz Cheffed Restaurants Are Taking Fall Reservations

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Bazaar Mar by Jose Andres

SLS Brickell Hotel & Residences’s two big-name, celebrity-chef-overseen marquee restaurants are both set to open this fall, at about the same time that the rest of that residential and hotel tower built by the Related Group and managed by SBE debuts.

SBE Group has just begun accepting reservations on OpenTable for Fi’lia, an Italian restaurant created by Miami-made Chef Michael Schwartz beginning October 15th, and Bazaar Mar,  a seafood spectacular by big-time celeb-u-Chef Jose Andres, beginning Tuesday November 15th. The mid-Fall timing coincides logically with the first opening month or so of Miami’s high-season, when we’re getting lots of global attention but everyone in the world hasn’t arrived yet. Sounds like the perfect time to open a restaurant.

F'ilia by Michael Schwartz.

F’ilia by Michael Schwartz.