How the world discovers South Florida

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Soaring Skyline

November 2018
Vladislav Doronin has become a key player in the metamorphosis of Miami, first with the groundbreaking of Missoni Baia last year and now with the launch of Una at Brickell Avenue’s southernmost point near the crossroads of Coconut Grove’s Main Highway and Brickell Avenue at 175 SE 25th Road, a location that will be familiar to longtime residents as the place where the city’s first residential skyscrapers were built in the 1970s.

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Everything Zen

Considering the impressive roster of talent behind 57 Ocean, the 18-story LEED-certified condo building underway on Millionaire’s Row in Miami Beach, it is easy to surmise the finished result will be swoon-worthy.

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First Look At Four Hot Skyscrapers

October 31, 2018
City skylines are as almost as crowded as the streets—soaring higher due to  in-demand skyscraper living offering enviable views and convenient lifestyle choices. Here’s a first look at four prominent projects heading to market.

Madison Square Park Tower’s $77.7 Million Penthouse

Madison Square Park Tower, the tallest residential tower between Midtown and Lower Manhattan, will list its triplex penthouse raw for $77.7 million. If that seems like a gamble, consider the lucky number involved—at least for the developer and broker who eventually seal the deal. Spanning 15,000 square feet over three floors, the penthouse will emerge as one of the largest listed homes in downtown Manhattan history. The penthouse includes two separate studio apartments for staff, office or storage and two fully automated parking spots in the underground garage (that alone is worth $50 million in Manhattan). Delivering unfinished allows the buyer to create his or her own customized sky mansion. If you drop that much on a penthouse, you deserve exactly what you want.

Since imagination is required for the space, three prominent designers—Lee Mindel, Ryan Korban and Thomas Jul-Hansen—have conceptualized interior design possibilities for the space (allowing prospects to envision the penthouse’s potential). Interested buyers have the option of integrating these designs elements into the 63rd, 64th and 65th floors—777 feet above the famous Flatiron District. The triplex offers panoramic floor-to-ceiling views of the East River, Hudson River, and iconic towers like the Empire State Building, Chrysler Building and The Clocktower. The triplex penthouse owner also receives access to the building’s amenities, housed on the first five floors. Designed by London hospitality designer, Martin Brudnizki, amenities include a bi-level library, fitness center with yoga, basketball court, and a private club lounge. Fredrik Eklund, John Gomes and Noble Black of Douglas Elliman are the brokers for the property.

Inside-Out Living At 200 East 59th Street

The 35-story residential condominium at 200 East 59th Street is Macklowe Properties’ sequel to 432 Park Avenue (the latest skyscraper claiming the title of “western hemisphere’s tallest residential tower”). As impressive as that Park Avenue super tall is, nothing tops 200 E. 59th’s fantastic movie trailer (by DBOX) featuring cosmopolitan giraffes and elephants inhabiting this space—exploring the balconies, views, restaurants, shopping, museums, galleries and everything else uptown has to offer. That’s inside-out living! This less-soaring, beautifully narrow building in the Sutton Place district modernizes the Midtown East skyline with its unique wrap-around terraces and exterior columns which create a visual rhythm that defines a new intersection between Midtown and the Upper East Side. Conveniently located near Central Park and the world’s premier shopping district (Bloomingdale’s, Decoration & Design Building, Madison and Fifth Avenue boutiques) the tower is finally showing furnished residences by appointment.

The condominium was designed by CetraRuddy Architecture. Here, all 67 residences are corner units that integrate an indoor-outdoor living via continuous terraces, ranging from 7-to-12 feet deep. The 22 x 150-foot apartments are seamless extensions of the living spaces, separated by floor-to-ceiling walls of glass (with slender framework) and no horizontal interruptions, eliminating the visual distinction between indoors and outdoors. This is also known as genius simplicity. The column-free interiors offer panoramas of Central Park, Midtown skyline, Queensboro Bridge, etc. Meanwhile, columns are kicked outside to the curb, to the exterior—as if permanently punished, punctuating terraces as a striking, visual focal point from the outside (particularly while illuminated at night). The condo primarily features of one- and two-bedroom residences, with three full-floor penthouses also available, priced from $1.87 million to $17.96  million. There are only two-to-three residences per floor, offering privacy and intimacy. Sales and marketing is led by Douglas Elliman Development Marketing.

ARO’s Twists & Turns

Not since Lady Gaga played the last electrifying show at the famous Roseland Ballroom has 242 West 53rd Street in Manhattan been this newsworthy. ARO, the new 62-story Midtown West skyscraper designed by CetraRuddy Architecture (and developed by Algin Management), will house 426 luxury rentals over the music landmark’s former site. The tower beautifies Midtown West living, highlighted by its cantilevered design of fluid twists and curves (which “accentuates transparency and light”) and distinctive white-metal grid projecting from its sculptural glass form. ARO will feature studio, one-, two- and three-bedroom residences (some with balconies), with light-filled, floor-to-ceiling windows, oak floors, chef’s kitchens, and spa-inspired baths.

Studios are priced from $2,900 per month; one-bedrooms (from $3,695), two-bedrooms (from $5,995), and three-bedrooms (from $7,995 to $17,500-plus). Also, ARO will have two premier duplexes, including a three-bedroom duplex residence and one four-bedroom duplex penthouse. Triumph Property Group handles exclusive leasing. A 24/7 concierge lobby includes a swirling reception desk that emulates the curved skyscraper façade, and a custom James Greco sculpture with the letters A, R and O from old Roseland signage (Greco is a former Roseland Ballroom bartender).

ARO features outdoor landscaped terraces featuring by Balmori Associates and more than 40,000-plus square feet of indoor and outdoor amenities, including glass mosaic pools, basketball court, golf simulator, fitness center, the ARO Club of indoor-outdoor spaces (with three distinct lounges), and ARO Sky Club, a glass-enclosed rooftop lounge (with a outdoor pool and sweeping city views).  “In creating a tall, slender tower, we were able to bring more space, light and air around the building, incorporating plentiful outdoor spaces and amplified views,” says John Cetra, managing principal of CetraRuddy. “The building twists and cantilevers as it grows to optimize spectacular views and light within the residences, and its rounded corners create unique interior layouts and views. Its form allows for larger apartments at the top of the building reaching out, and the building amenities in the ARO’s base, or podium, cascading down the rooftops.”

Panorama Tower Sneak Peak

Florida’s current tallest tower is finally completed—soaring 85 stories over Miami. Developed by Florida East Coast Realty, the skyscraper houses 821 luxury rental apartments, a Hyatt boutique hotel, and commercial space. Panorama has a reputation to live up to. Billed as Miami’s highest level of living, the grand mixed-used tower is above it all. About 90% of the condo-level residences offer water views of the Biscayne Bay and Atlantic Ocean via hurricane-resistant, floor-to-ceiling window walls and expansive balconies with glass railings. Residences here run a tad larger—one bedrooms start at 1,100 square feet; two bedrooms start at 1,600 square feet; and three bedrooms start at 2,100 feet. Residents can also enjoy a range of luxury amenities from three theaters, exercise studios, kids play room, pampered dog run, pools, bars, private dining room, cyber cafe, social lounges, music studio, and a game room with golf simulator.

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Hotel brands can add value to condo projects: TRD Miami panel

October 26, 2018
What’s a hotel name worth?

Quite a lot when it comes to hotel-branded development projects in South Florida, according to panelists at The Real Deal South Florida’s Real Estate Showcase & Forum.

Louise Sunshine, a strategic adviser to the owners of Fort Partners, said the Four Seasons brand adds a minimum of 30 percent in value to its residences. Highlighting the success of the Four Seasons brand, Sunshine said Fort Partners’ Four Seasons Hotel at the Surf Club is about 80 percent occupied with rooms averaging a staggering $1,000 a night, outside of season, and $3,000 a night in season.

Local developers have long turned to branded properties to attract buyers. This has been especially true in the luxury condo market such as Dezer Development’s licensing contract with Porsche Design Group for its Porsche Design Tower in Sunny Isles Beach or the group’s Trump-branded properties.

Edgardo Defortuna, president, CEO and founder of Fortune International Group, who is co-developing The Ritz-Carlton Residences, Sunny Isles Beach and Auberge Beach Residences & Spa Fort Lauderdale, said buyers prefer branded products in part because of the amenities and quality of service.

In South Florida and across the country, the hotel sector is still combating the rise in popularity of Airbnb, the online short-term rental platform. Panelists, said, however, that hotels are able to a provide a quality of service that will always attract buyers.

“It [Airbnb] is impacting us the most at the mid-tier, not in the luxury tier,” said Benjamin Sinclair of the Faena Group, which developed the 169-key Faena Hotel in Miami Beach. But he adds, “It has an impact on the industry, it really does erode rates.”

David Arditi, founding principal of Aria Development Group who is co-developing the hotel and condo project YotelPad in downtown Miami, said unit owners will not have any usage restrictions. “We don’t feel that in this segment we can really fight [Airbnb].’

The 30-story project will have 231 residential YotelPad units and 222 Yotel “cabins” with condo prices starting at under $300,000.

Yet buyers overall like the hotel experience. “Everyone loves the service component [at luxury projects] and we always asked ‘Why is it only reserved for the very high end? Why can’t we bring it down a notch?’” Arditi said.

He said that after surveying the millennial market, the top priority was package delivery, so 24-hour package lockers will be provided at YotelPad.

South Florida will see a big uptick in new hotel openings over the next two years. Nearly 4,200 new hotel rooms and 2.8 million square feet of space will be completed within the next two years in the tri-county area, according to Lodging Econometrics data analyzed by Colliers International South Florida. Of the total, 3,158 keys will be delivered in 22 new hotels totaling 2.1 million square feet, by the end of 2018. That’s a nearly 71 percent increase from 2017 to 2018.

The panelists said they all hope to be in involved in additional hotel-branded projects in the future. “[It’s] a lot more than the lion in the logo and the name on the building,” Defortuna said.

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MIAMI Magazine’s Charity & Social Datebook Launch at Una Residences

October 25, 2018
MIAMI magazine and Una Residences partnered together to celebrate the launch of the 2018-2019 Charity Social Datebook with an exclusive soiree honoring 5 esteemed altruists in the community: Michele King Soffer, Marc Buoniconti, Kinga Lampert and Marile & Jorge Luis Lopez. Taking place in Brickell’s newest luxury high-rise, 75 philanthropically -minded guests enjoyed sips by Bodvaré rose and bites by Shiraz Catering. The night concluded with a special speech recognizing these distinguished philanthropists, their amazing causes and the tireless work they give to the city they love.

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There’s a surplus of luxury condos in Miami, but three more developers are building anyway

October 22, 2018
Sea level rise? No worries. Sluggish sales in the luxury market? Not a problem. Strict requirements for construction loans and traditional bank financing? There are other ways to buy a condo.

High-end real estate development has slowed to a crawl in Miami-Dade, with most builders taking a breath while the market absorbs a bounty of condos priced at $1 million and up.

Only two new major luxury condos broke ground in 2018: Estates at Acqualina in Sunny Isles Beach, with 245 residences ranging from $4.2 million to $35 million, and One Park Grove, the third and final tower of the ritzy Coconut Grove development, priced from $2.7 million to $6.3 million.

But three ambitious developers from outside the U.S. are betting on Miami’s enduring appeal with plans for ambitious condos priced in the mega-millions. The trio are proof that out-of-town investors continue to see a big future — and an even bigger payday — in Miami-Dade’s luxury market, despite sluggish sales and climate change concerns.

“The rest of the world sees the U.S. as the safest place to move their capital,” said Ron Shuffield, president and CEO of EWM Realty International, a brokerage firm. “The international developer is thinking about where they want to have their assets two or three years down the road. They feel there’s no better use of their capital right now than to build high-quality properties in markets where it will continue to appreciate, even though it’s not the best time to have a $5 million condo for sale.”

The monthly number of Miami-Dade condos listed on the Southeast Florida Regional Multiple Listing Service (MLS) during 2018 priced $1 million and up reflects the highest levels in history, according to EWM Realty International. On Sept. 30, 2018, there were 2,874 active sale listings — an 11 percent increase over the same period last year.

The glut is even more evident for condos priced at $5 million and up. According to EWM, the MLS listed 348 units in that price range as of Aug. 31, 2018. That’s a total of 58 months of inventory — well above a “healthy” inventory of 12 to 18 months.

But despite the surplus, three new luxury projects in Miami-Dade are moving forward, each launched by foreign-based developers who are financing the projects from their own resources:

57 Ocean, an 18-story, 81-unit luxury tower at 5775 Collins Avenue in Miami Beach, is the third condo project in Miami-Dade from the Brazilian firm Multiplan Real Estate Asset Management;

Okan Tower Miami, a mammoth 70-story condo/hotel/retail building at 555 North Miami Avenue in the downtown area, will reach a height of 890 feet. It is the first project in the U.S. for the Turkish firm Okan Development Group;

Monaco Yacht Club, at 6800 Indian Creek in Miami Beach, will offer 39 fully-finished waterfront units on 11 floors. The developer is Optimum Development USA, the Miami branch of the Luxembourg-based Optimum Asset Management.

The three projects join other luxury developments that have already broken ground or entered the pre-sale phase. Those include the Aston Martin Residences in downtown Miami, from Argentine supermarket magnate German Coto; the Missoni Baia tower in Edgewater and the Una Residences in Brickell, both from OKO Group; and the Eighty Seven Park tower in Miami Beach, a joint venture between the prolific South Florida developer Terra and the Italy-based Bizzi & Partners.

The developers behind the three new projects believe their product is unique enough to stand out from the pack — and they have the resources and staying power to weather the ebb and flow of the market.

Jose Isaac Peres, a Brazilian billionaire who amassed his fortune building shopping malls, is the founder of Multiplan, the firm behind the 57 Ocean tower on Miami Beach. The project, which will occupy the former location of the demolished Marlborough House, will emphasize wellness and healthy living in its design and amenities. Prices range from $1.5 million to $31 million. Pre-sales will begin this month.

Peres believes the building will impact the “Millionaire’s Row” stretch of Collins Avenue like one of his previous projects, the Il Villaggio condominium, impacted Ocean Drive in the late 1990s.

“This project will present real value investment opportunities not only for us, but also our initial buyers, as these irreplaceable assets tend to appreciate over time,” Peres said. “By self-financing, we have the flexibility to push our construction schedules forward and boost consumer confidence and differentiate ourselves from mainstream developers who struggle to reach sales milestones and meet financing requirements.”

Marcelo Kingston, managing partner at Multiplan, said 57 Ocean’s beachfront location balances out any concerns about real estate market fluctuations.

“The trickiest point is timing,” Kingston said. “When is the right time to start a new project? But a project with a location like this one is special, because there will always be demand for it. This project transcends economic challenges and political tumult, because there’s nothing on the market that can compare with this location. That gives us the ability to pull the trigger and move forward, knowing there will be demand from all parts of the world.”

International interest

Experts say that global demand for Miami shows no signs of fading. In the 2019 edition of the annual Emerging Trends in Real Estate survey conducted by the Urban Land Institute and PricewaterhouseCoopers (PwC), Miami ranked 12th on a list of the top 20 U.S. markets to watch for overall real estate prospects. Miami also ranked fifth on a list of the 16 strongest markets in the South Atlantic and Florida region ranked by investor demand, capital availability and redevelopment opportunities. (Fort Lauderdale came in sixth).

“If you’re trying to attract condo buyers from around the globe, it makes sense to broaden your net as far as you can,” said Mitch Roschelle, partner and business development leader at PwC. “When you have a multicultural environment, you’re opening yourself up to buyers from around the world. Because Miami is so culturally diverse, condo developers there have the broadest possible audience.”

That growing cultural diversity is one of the factors that led Bekir Okan, founder of the Turkish company Okan Development Group, to build his first U.S. project in Miami. Okan first visited the city with his family in the 1990s, when they sailed on a Royal Caribbean Cruise that departed from the Port of Miami.

Two of his children later went to schools here — the University of Miami and Florida International University — which kept him returning to South Florida.

“He’s been coming to Miami for 20 years and he loves the place,” said Kasim Badak, CEO of Okan Development Group. “He had been doing construction in Turkey, Africa and the Middle East. And one day he said ‘Why don’t we do a project in Miami?’”

Badak said the company opened a 3,000 square-foot sales gallery with a full-model residence in Istanbul in May and has collected 65 reservations thus far. The $300 million tower will sport the shape of a tulip, Turkey’s national flower, and be made up of 316 Hilton hotel rooms, 149 residences, 236 turnkey units and four penthouses.

Groundbreaking is scheduled for early 2019. The general contractor will be Suffolk Construction, which also built the guitar-shaped Seminole Hard Rock Hotel & Casino in Hollywood. The other two new projects have not yet hired a contractor.

The Okan Tower is entirely self-financed for now. But even the most high-end luxury projects eventually turn to traditional bank lending once they cross certain thresholds of pre-sales or have a proven track record.

Ricardo Tabet, CEO of Optimum Development USA, sad that while the firm’s Monaco Yacht Club project in Indian Creek is currently self-financed, he expects a loan to close next month. Some of the firm’s other projects include The Optimum office building in Coconut Grove and the Celino Hotel on Ocean Drive, both due for completion in 2019.

The scale of the 39-unit Monaco Yacht Club was intentionally kept small — Tabet said the project could have easily accommodated 90 units — because the developer wants to attract an elite breed of sophisticated buyer who will appreciate (and pay for) touches such as custom-made wood doors. Prices will range from $1.1 million to over $4 million, and pre-sales are expected to launch by the end of the year.

But Tabet, like almost every other developer in Miami-Dade, says one thing that won’t impede pre-sales is the growing concern over climate change. Despite the worry among South Florida residents about nature-based hazards including red tide and flooding, the real estate market thus far seems impervious to cooling from global warming.

“There’s no such thing as Miami sea-level rise,” Tabet said. “There’s global sea-level rise. It’s an issue we are facing around the world. Everyone knows the planet has an issue. But I believe people are still looking for the unique lifestyle that Miami is offering. Hurricanes have forced us to learn to live with nature. We take precautions and we have insurance. The construction requirements are stronger and the infrastructure of the city has gotten better. “

A bullish market

The early interest in projects that are already underway confirm Tabet’s claim. Since breaking ground in 2017, the Aston Martin Residences has sold more than 40 percent of its 391 units, ranging in price from $700,000 to $50 million, to buyers from Latin America, Europe and the U.S. The building is scheduled for completion in 2021.

The 57-story Missoni Baia tower in Edgewater, which launched sales in 2016 and broke ground in 2017, has begun vertical construction and is scheduled to be completed by 2020. Prices on the remaining units range from $550,000 to more than $3.5 million.

“These developers see an opportunity and have their own capital structure, enabling them to be in the position to build right now,” said Vlad Doronin, the Russian-born CEO and chairman of OKO Group. “They see the advantage of building at a time when nobody else is, particularly at a moment when there is less competition and very little new inventory. We take a long-term view on the markets we enter and we are bullish on Miami. The city is growing, and the domestic tax structure is increasing demand in Miami from the rest of the US.”

Lenders are bullish too — at least about some projects. Earlier this month, the Trump Group (no relation to the president), the developers who built Williams Island, scored a $558 million loan from Bank OZK (formerly Bank of the Ozarks) for their Acqualina project, which is valued at $1.5 billion.

“There’s a little bit of a misconception that there is an endless supply of new construction,” said Alexandra Lehson, a partner at the law firm Bilzin Sumberg, which negotiated the Acqualina loan. “The market has stabilized. We are out of the boom and bust cycle days and the pendulum isn’t swinging too far in either direction. Bank lenders need to have a sponsor with a solid track record, a project with a fantastic location and a great amenity package. They are increasingly focused on the quality of the loan they are financing.”

Terra president David Martin said 54 of the 66 units at the Eighty Seven Park tower in Miami Beach have been sold at prices ranging from $2 million to $18 million — another indicator of the strength of Miami’s luxury market. The building is topping off this month and is due for completion summer of 2019.

And although foreign buyers are critical to luxury developers, Martin argues that the number of out-of-town U.S. buyers investing in high-priced homes in Miami keeps growing and bodes well for the market.

“There’s not one demographic at Eighty Seven Park: It’s more of a psychographic, people who are adventurous and want to live on the ocean,” he said. “As Miami has matured from a cultural and experiential standpoint, we’ve been able to attract more American buyers from Boston, Chicago, New York and Washington D.C. They either want to relocate here or use Miami as a second or fourth or fifth home.”

 

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Enhancing The Cachet Of High-End Residences, By Design

October 18, 2018

A number of factors help define luxury high-rise living for today’s most discerning buyers. Location within a moneyed, walkable and highly-coveted enclave may be most important. Sumptuous in-unit features and finishes, lavish creature comforts, attentive service and the most opulent and state-of-the-art amenities are four more.

To this list, add one other: The bragging rights that go with owning a residence in a building whose interiors were sculpted by one of the design world’s most iconic names.

Case in point: 2000 Ocean in Hallandale Beach, Florida, currently in development by Shahab Karmely of New York City-based KAR Properties. The 38-story, 64-residence boutique condominium, which will break ground this year and is slated for completion in 2020, is the first residential development in the United States to be curated by Minotti.

Launched in 1948 by founder Alberto Minotti, the Italian company has over its 70 years honed a reputation for cutting-edge design in hospitality and residential real estate.

In short order, 2000 Ocean has begun generating buzz in the real estate world about the growing significance of established designers as brand partners, and the cache designers’ names and reputations confer on gleaming new residential buildings.

Partners in luxury

Karmely is an eloquent observer on the notion of high-end developers such as KAR Properties teaming with leading brand partners. In addition to acclaimed designers Minotti and minotticucine — the latter providing the custom-designed kitchens and bathrooms at 2000 Ocean — he also collaborates with gild-edged architects like Enrique Norten-TEN Arquitectos and Kobi Karp. In nourishing relationships with high-end brands that serve exceptional design, he has learned the exclusivity and prestige of these brands hold immense gravitas with well-heeled buyers both domestic and international.

“We live in a world where the term ‘luxury’ has become one of the most overused terms, similar to the term ‘genius,’” Karmely says. “Luxury brand partners have spent years, if not decades, establishing their brands and brand associations in every sector. Whether it is fashion, automotive, entertainment, they all have proven added value.

“Our established brand partners have an international presence with showrooms around the world. Our clients can walk into those showrooms and be assured that quality of our product and brand aesthetics will be delivered to them. Our brand partners are the leaders in their fields internationally .”

Gold on the water

Neighboring the wealthy oceanfront community of Golden Beach, 2000 Ocean promises to be a fitting neighbor to the enclave’s uber-luxurious waterfront homes boasting million dollars-and-up prices.

“Space to develop oceanfront properties is becoming increasingly difficult to come by, and we saw an opportunity to create something extraordinary in Hallandale Beach for those seeking beachfront, resort-style living,” Karmely says.

Residences in the 38-story glass tower will be fully finished and furniture-ready, Minotti having provided each with personalized design services. The interior and exterior amenity spaces of 2000 Ocean will be similarly furnished by the legendary Italian firm.

To say 2000 Ocean’s owners will savor resort-style living does not do justice to the level of pampering and privacy anticipated. Amenities include biometric access to private elevator buildings, freestanding spa pavilion with treatment rooms, Hamman ice room and yoga room and oceanfront curated library. Residences will be pre-wired for Savant systems providing the latest and most sophisticated technology. All common areas will be wired for multi-level security programs, boasting biometric access and advanced scanning systems designed to provide unparalleled surveillance and seclusion.

When 2000 Ocean is unveiled, Karmely expects the partnership between brand partners Minotti, TEN Arquitectos and Kobi Karp to yield a one-of-a-kind fusion of sophistication and palatial living. Fortune International Group will oversee the exclusive sales and marketing of the property.

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Chicago power couple buys unit at Auberge Fort Lauderdale

October 15, 2018
A condo unit at the new Auberge Beach Residences & Spa in Fort Lauderdale just fetched $7.3 million.

Property records show Ilene Gordon and Abram “Bram” Bluestein split a 50 percent interest in unit 1402 in the north tower of the two-tower project at 2200 North Ocean Boulevard. The couple bought the condo through revocable trust in their names.

Gordon formerly served as chairman and president of the Fortune 500 company Ingredion, which focuses on selling corn-based sweeteners and texturing ingredients to food and beverage industries.

A year before she retired in 2017 the Westchester, Illinois-based company reported $5.7 billion in revenue. Her total compensation for that year came out to $10 million. Her husband Bluestein is a co-partner in the Chicago-based food and retail venture capital firm Bluestein & Associates.

Auberge Beach Residences & Spa is being developed by the Related Group, Fortune International Group and the Fort Lauderdale-based Fairwinds Group. The partnership recently completed the 17-story north tower and plans to deliver the 23-story south building later this year.

Construction of the project began in 2015. Amenities include a full-service salon, a plunge pool, and indoor and outdoor cabanas. A farm-to-table restaurant is planned to open later this year.

The deal comes on the heels of the nearly $6 million purchase of unit 1202 in the north tower by private equity exec Michael Falk. His Comvest Partners firm, based in West Palm Beach, manages more than $3 billion in assets.

Other buyers at Auberge Beach Residences & Spa include Miami Dolphins quarterback Dan Marino and the Winnipeg Jets’ Jacob Trouba. In September, the son of Salmar Properties founder Sal Rusi paid $9.3 million for a penthouse unit in the north building.

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Panorama Tower, lo mejor está por dentro

October 12, 2018
No todos los días tenemos la dicha de movernos por las entrañas del Panorama Tower, el edificio residencial más alto construido jamás al sur de Manhattan. Dicho privilegio es doblemente superior si el recorrido es guiado por su creador, el arquitecto cubano Moshe Cosicher.

DIARIO LAS AMÉRICAS tuvo la oportunidad de elevarse en apenas unos segundos hasta el punto más alto de Miami. Visitamos en el piso 85 los pulmones de la torre, un salón donde trabajan sin descanso las grandes máquinas que equilibran la temperatura del edificio. Desde allá arriba el resto de la ciudad parece simplemente una maqueta. Descendimos, recorriendo una especie de barrio vertical, y a nuestro paso descubrimos interesantes rincones.

Detrás del nombre Moshe Cosicher se esconde un cubano cuya familia es de origen centroeuropeo. “Mi apellido es eslovaco. Mis padres llegaron a Cuba huyendo de los nazis durante la Segunda Guerra Mundial. Pero yo nací en Cuba, así comenzó su presentación este arquitecto de 69 años, integrante de la exclusiva lista de los autores de los 250 rascacielos más altos del mundo a la que ingresó tras construir el Panorama Tower de 868 pies de alto.

Modestia es el epíteto que mejor define a este creador. Tanto en su forma de comunicarse como la manera de relacionarse con su obra. “Yo nunca presté demasiada atención a la significación del proyecto. Simplemente me concentré en realizarlo. Jamás tuve en cuenta que a partir de entonces podría convertirme en un referente en el mundo de la arquitectura. Hollo -el presidente de Florida East Coast, la empresa dueña del proyecto- me dio una oportunidad y yo simplemente la asumí con mucha modestia y responsabilidad”, relató Cosicher mientras paseábamos por el edificio.

Instalaciones

El lobby de la torre es la carta de presentación del universo que se desarrolla dentro de la gigantesca construcción. Es amplio, diáfano, de doble altura, sobre el área de la recepción el techo es liso de metal dorado y bajo él comienza un pasillo de vigas de madera a través del cual se accede a las 821 unidades de lujo puestas en alquiler. Los apartamentos tienen de una a tres habitaciones y el precio de la renta va de 2.500 hasta los a 6.000 dólares al mes.

“Mi principal objetivo al aceptar este proyecto fue cumplir con las prioridades señaladas por mi cliente: la factibilidad y la funcionalidad del mismo. Es una obra tan compleja, al incluir tantas zonas de ocio y numerosas instalaciones, que hemos puesto en el mercado mas que una opción de vida, un nuevo estilo de vida”.

Vivir en Panorama Tower es como estar dentro de un club social. Cosicher prefiere llamarlo un gran vecindario vertical. Sin embargo, “a diferencia de los vecindarios tradicionales el traslado desde las residencias hacia las zonas de ocio no se hace en vehículo aquí se utiliza el ascensor”. Claro está, descendiendo o subiendo se puede llegar lo mismo al cine, a la tintorería, al correo, a un SPA para mascotas o a un parque de aguas, por solo señalar algunas de las múltiples opciones que brinda el moderno edificio.

Efectivamente la torre es un gran complejo de uso mixto que armoniza en sus 85 plantas los exclusivos apartamentos residenciales con áreas de piscinas, oficinas y un hotel estilo boutique, el Hyatt Centric.

Más detalles

El corazón social del “vecindario” pudiera decirse que se encuentra en el piso 19, donde se ubican el gimnasio y otras muchas zonas de ocio.

“Las instalaciones pueden ser compartidas entre los residentes y los huéspedes del hotel. Los inquilinos aficionados a la música tienen acceso al salón Musa, un estudio donde pueden tocar cualquier instrumento sin molestar a los vecinos. Hay dos áreas sociales muy bien acondicionadas que incluyen barra para bebidas y una amplia zona de mesas. Uno de los salones tiene habilitado un local de vinos donde los residentes en cavas pueden almacenar sus botellas personales.

El Ciber Café y Café Bar es otro de los locales que impresiona por sus magníficas vistas hacia Brickell. “Es un espacio de trabajo compartido. Allí los residentes pueden interactuar y trabajar con computadoras personales mientras toman algún refrigerio”.

No existe nada más aburrido para los fanáticos de los deportes que ver la final de un campeonato en la televisión de casa, lejos de la hinchada. En Panorama Tower existen tres salas de cine que constantemente proyectan en pantallas enormes los principales acontecimientos deportivos del día. Estas salas se pueden reservar para ver películas con amigos, y una de ella incluye un bar.

Pero la joya de la corona parece ser el gran gimnasio equipado con todas las máquinas existentes para tonificar el cuerpo, además tiene un sauna y un SPA donde se pueden recibir diferentes tratamientos corporales.

Para los amantes del yoga y el pilates se creó un gran espacio cuyas maravillosas vistas a la bahía Biscayne son garantía para alcanzar el verdadero nirvana.

Los padres con niños pequeños tienen la opción de llevarlos a un salón infantil para que jueguen y compartan con otros pequeños. Además en una de las terrazas hay un parque de agua aledaño a la zona de piscina.

“Vivir en este edificio es como estar atrapado en el paraíso. Todo es tan asequible que los residentes tienen que hacer un gran esfuerzo cada vez que necesitan salir de la instalación por cualquier motivo”.

A la pregunta cuál es el mercado meta de esta construcción ,Cosicher respondió: “Nos focalizamos en Brickell, el centro financiero de la Florida. Nos dirigimos al joven profesional que vive un año o dos en esta zona por motivos laborales. Visto una oportunidad en ese segmento del mercado y la hemos aprovechado. El proyecto hasta ahora está teniendo una gran aceptación”

Cosicher no sabe si Panorama Tower será su obra cumbre. “Todas las noches rezo y le pido a Dios que me abra el camino y me señale la dirección correcta. Creo que Panorama es un escalón importante en mi vida, pero solo él sabe cuál será el futuro”.

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First Look Inside 85-Story Panorama Tower, The Tallest Building In Florida

October 11, 2018
Panorama Tower opened earlier this year in Brickell.

The 85-story tower stands 868 feet above ground, and is now the tallest building in Florida. It includes 821 rental apartments, a 208-room Hyatt Centric hotel, 100,000 square feet of office and 50,000 square feet of retail.

Here is a look at the interior of the residential area.

View the photos here.

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On the rise and rise of ‘branded’ residences

October 9, 2018
Time was, any self-respecting HNW ‘walked the walk’ in both their professional and personal dealings. Bold and brash was the style. Now ‘glide the glide’ might be a more apt term. Ever more HNWs want their lives to flow seamlessly between environments that reflect their preferred luxury brands – and they expect their properties to match this.

For example, not only will the satnav in an Aston Martin painlessly guide one through Miami’s hellish highways, soon it will also deposit you at Aston Martin Residences, a downtown development by the car manufacturer and G&G Business Developments that completes in 2021.

Inside this development of 66 luxury condominiums, the interior of your Aston and its dashboard appeal will be followed through into the lobby and common areas. In the condos, the design, smart tech and Aston Martin furniture packs (available at a hefty premium) will ensure a transition from car to home, without changing aesthetic gear. You might call it cruise control.

Aston Martin is hardly alone in hitching its automobile brand to a swanky residential apartment scheme. Miami’s Porsche Design Tower, which boasts the engineering feat of enabling cars to be lifted up to your apartment, was a huge success. Only a handful of the 132 apartments remain unsold, including a $32 million penthouse. Closer to home is Mercedes-Benz (at Fraser) Suites in Kensington.

Furthermore, so many Italian fashion and jewellery brands, including Missoni, Versace, Armani and Bulgari, have hitched their names to property ventures that devotees will soon be able to flash a lot more than a handbag logo. Residences by Armani/Casa in Miami will boast an unbeatable sense of arrival through an elegant porte-cochère and professionally curated collection of museum-quality art that will be displayed in the building (to be completed in 2021).

‘It’s not surprising so many developers choose to brand their real estate,’ says Rob Green, founder of Sphere Estates. ‘It adds prestige, provides buyers with a greater sense of security in their investment, and it adds a premium to the achievable sales price.’

Chris Graham of Graham Associates, an expert on branded residences, says the rise of developments tied to luxury brands is an offshoot of the booming market in resort developments, where a hotel operator joins forces with a developer to provide hassle-free holiday homes with hotel rooms and services. There are hotel-residence developments in more than 50 locations worldwide.

In the 2018 edition of his exhaustive ‘Branded Residences’ report, Graham found that 27 new hotel brands have entered this lucrative market in the past two years. The new trend for luxury fashion and car brand tie-ins is on top of this.

‘These are trophy purchases appealing to trophy hunters around the world,’ he says. ‘If you say to someone, “I just moved into a Four Seasons or a Giorgio Armani,” there’s no doubt the association with that brand plants all the right seeds in the listener’s mind.’

Then there’s the convenience factor, especially with the hotel resorts. ‘These resorts benefit from five-star services and amenities,’ Graham says. ‘Plus, should you wish to rent, you can through the hotel’s management scheme.’ That convenience entails paying a premium on the purchase price and hefty service fees.

Alex Moulas, a director in Savills’ international development consultancy team, compares the branded residence to other HNW ‘lifestyle purchases’ and says: ‘It’s no different to buying a yacht, or a private plane.’ Savills wants to be involved with this booming market from the get-go: ‘Savills is there throughout the whole process, from when the developer
who owns the land approaches the hotel operator or fashion brand, right through to the sale.’

Missoni Baia in Miami is the first development from the legendary fashion house. The 249 residences in this 57-story waterfront tower are available from $560,000.

The professionals expect this phenomenon to spread around the globe, especially as branded residences currently account for more than 40 per cent of available high-end property in emerging markets such as Thailand. As South America and Africa open up, HNW buyers will look for the confidence and convenience that branded residences afford them.

Maybe even Apple or Google Residences are not far off? One thing’s certain, increasing numbers of luxury and high-profile brands want a slice of this market.

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Construction At OKO Group’s Missoni Baia Goes Vertical In Edgewater

September 29, 2018
OKO Group, the Miami-based development company founded by international real estate magnate and hotelier, Vladislav Doronin, has announced that the foundation work for Missoni Baia is now complete and construction crews have taken the tower vertical. The foundation includes 190 piles totaling 12,160 linear feet, more than 345 tons of steel-reinforcing bar, and 2,250 cubic yards of concrete, the equivalent of 225 full drum-loads in a cement mixer truck. Crews are now working on the installation of columns and shear walls is underway for the building’s expansive amenities deck and parking garage, which will include space for 398 cars and 17 private parking stalls. Construction is on track for the expected completion in late 2020 with crews pouring one floor per week.

“We are extremely pleased with Missoni Baia’s progress to date and look forward to seeing the tower’s contemporary architecture take shape on this unique waterfront location overlooking Biscayne Bay,” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are certain the building will have a profound effect on the Miami skyline, in addition to offering an elevated and unparalleled living experience in Edgewater, which is already one of the city’s most sought-after residential destinations.”

“We look forward to the steady ascent of the Missoni Baia tower as it rises to become a formative addition to East Edgewater and the Miami skyline,” said Jonathan Goldstein, CEO of global real estate investment firm Cain International, and OKO Group’s partner. “With OKO Group and Cain International’s combined experience, developing over 20,000 apartments and condos across the globe, Missoni Baia will deliver first class luxury and amenities in an iconic Miami skyscraper.”

“The Missoni Baia project continues to resonate well with the domestic market and also with international buyers, particularly those from Mexico, Colombia and Brazil. It is a great confidence boost to see the progress made and we are excited to witness the daily changes on site as construction climbs skyward.” said Edgardo Defortuna, president and CEO of Fortune Development Sales.

Missoni Baia will feature 249 condo residences situated along 200′ of frontage on Biscayne Bay at 777 Northeast 26th Terrace. Prices start in the $500,000’s for a 1 bedroom residence. Units range from 1 to 5 bedrooms, and 776 SF to 3,788 SF. Missoni Baia will rise 57-stories, 649′, and was designed by Hani Rashid of Asymptote Architecture, who are pioneers in the convergence of art and technology in architectural design. The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities. Amenities were designed in collaboration with Missoni and offer the comforts of a luxurious resort in a private residential setting. Features include a flow-through deck designed for all-day sunbathing with well-appointed cabanas, 5 swimming pools including an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool, and an infinity-edge pool on the Bayfront Terrace, elevated tennis court and an expansive fitness center and spa overlooking the bay. The drone construction video can be found below:

 

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Increasingly, Amenities Are King in Luxury Rentals

September 28, 2018
As rents continue to rise in the most desirable markets around the country, the needs and wants of prospective high-end renters are shifting almost as quickly.

“What’s popular now are projects that offer walkability; live, work, and play in one central location,” says Karen Elmir, CEO of the Elmir Group in Miami.

In hot markets across the country like New York City, Bellevue, Hawaii, and South Florida, renters are shifting back towards urban-style living driven by convenience. They’re willing to pay higher rents, but they expect commensurate amenities to support the lifestyle.

“We’re here to add value to the residents’ lives on a daily basis,” says Jana Koerberle, senior vice president of leasing at Kemper Development Company, who developed and now operates Two Lincoln Tower in downtown Bellevue.

The year-old building includes high-level concierges for just about any need, access to two gyms (plus a SoulCycle in the lobby), parking, and a prime location right in the middle of Bellevue Square. Rents are higher to reflect that (starting at $4,150 per month for a one-bedroom, well above the $2,824 average), but the all-inclusive package is now something that’s more the norm than the exception.

In Manhattan, where the average luxury building rent is approaching $4,500 per month, Citi Habitats’ president Gary Malin says that the new standard of luxury in rentals is closing the gap for many.

“Before, rentals didn’t give the luxury client what they were looking for, but now most buildings are hiring high-end architects and adding those high-end amenities,” he adds.

Malin notes that because of all of the added costs when purchasing a home, especially in New York City, if a buyer doesn’t plan on living in the residence at least five years, that person may not want to get “caught in the market.” Rentals offer pure flexibility and no long-term commitment, which makes renting an attractive proposition in the city’s wildly fluctuating housing market.

An incredible amount of new construction is coming online in South Florida, where numbers aren’t fluctuating quite as much as in the Big Apple, but the demand of the market reflects a broader range of renters both domestic and international.

Large inventory is stagnating the current market, especially with 5,062 units under construction in downtown Miami alone.

Panorama Tower developer Jerry Hollo isn’t too concerned, as he says that his 821-unit building is bringing a distinctive level of luxury and, you guessed it, unparalleled amenities, to the city’s hot Brickell neighborhood.

“In essence, we’re a service company,” he says. “[Among other things] we’ll have someone on-site 24/7, a pet spa, and a ‘cyber café.’ These are things that people can enjoy together and it creates a strong sense of community.”

As much as the centrality and car-free lifestyle of a neighborhood like Brickell matters to young professionals, serenity and privacy reigns supreme in Hawaii, where exclusivity with a gated home or private penthouse elevator top the want lists of prospective renters.

“Fully furnished units are also in high demand,” says Elite Properties director of property management Charlotte Sherwood.

Obvious features are still in play as well, including oceanfront/ocean views, heated pools, first-class appliances, and high-tech amenities such as security systems.

There are primarily two groups of renters that come to the Aloha State: One is looking to maintain a secondary residence—one they’ll use for a few weeks each year. The other is looking to try out Hawaii for a year or so and see if it makes sense to make a move long-term.

Sherwood noted that they also draw renters from Japan, China, Canada, and Australia—each with a specific set of needs. Something like 1551 Ala Wai Blvd. #3005 in Honolulu is an example of a full-service penthouse that attracts renters. The array of on-site amenities, first-class finishes, and sweeping views makes the $8,000 per month price tag much more palatable compared to what the same list of features would cost in a condo.

If there’s one thing that’s clear across many of the country’s luxury rental markets, it’s that renters are now more discerning than ever. Whether they’re moving across states for a job, or across oceans for a vacation, the sheer level of product out there allows renters to finely hone what they’re looking for and understand that they can get more value as opposed to buying.

“Especially with the demographic looking to downsize,” Koerberle says, “it can potentially free up millions in capital to spend elsewhere.”

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Edgewater’s Missoni Baia condo tower begins its 649-foot climb

September 25, 2018
After nearly a year of below ground work, the 57-story Missoni Baia condominium tower is beginning its skyward climb at 777 NE 26th Terrace in Edgewater.

The start of vertical construction follows some serious foundation work comprising more than 345 tons of steel-reinforcing bars, 2,250 cubic yards of poured concrete, and 190 individual piles driven a combined 12,000 feet into the earth.

Crews are already working on the columns and shear walls of the building’s amenity deck and roughly 400-car parking garage. The pace of work is expected to accelerate as the tower rises higher, with crews expected to pour roughly one residential floor per week.

Perched on the edge of Biscayne Bay, the glassy design from Asymptote Architecture will top out at 649 feet. It will include 249 residences offered in one- to five-bedroom layouts styled by New York interior designer Paris Forino.

The Edgewater project is the latest local development to partner with a luxury consumer brand—in this case Italian fashion house Missoni. Building amenities include five swimming pools, an elevated tennis court and fitness center, a spa, media room, children’s playroom, and a pet spa.

Missoni Baia comes from developer OKO Group and partner Cain International and represents OKO’s first Miami project. The Vladislav Doronin-led company plans three more local projects including Brickell’s 47-story Una Residences designed by Adrian Smith and Gordon Gill Architecture.

Construction on Missoni Baia is expected to be complete by late 2020, according to its developers.

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El interés por captar mercado argentino no para

September 21, 2018
Desafiando el actual estado de la economía en el país, y con un toque de positivismo, varias firmas estadounidenses se desplazaron a la Argentina a presentar 4 de sus proyectos bandera. En el Hilton de Puerto Madero se dieron cita constructores, entidades bancarias, y un buen grupo de brokers y posibles compradores o inversionistas.

El empresario argentino Edgardo Defortuna presentó uno de sus proyectos en construcción, The Ritz-Carlton Residences Sunny Isles, el cual construye en sociedad con el también argentino Manuel Grosskopf, de la firma Château Group. The Ritz-Carlton Residences Sunny Isles se elevará entre las prestigiosas Bal Harbor Shops y el fabuloso Aventura Mall, en una propiedad donde el lujo sin precedentes, y un espléndido diseño y arquitectura, se complementan junto a sello de calidad Ritz-Carlton. Defortuna entregó este año el imponente Jade Signature en Sunny Isles, el cual continúa mostrando el legado de la marca Jade en el Sur de la Florida y es uno de los favoritos del público argentino que busca el lujo como estilo de vida.

Otro de los proyectos que continúa siendo pionero entre los clientes argentinos, y que también está siendo ahora comercializado por Fortune International Group es Brickell Flatiron del constructor italiano Ugo Colombo, presidente de CMC Group, probablemente el más experimentado de la región en cuando a calidad, y diseño se refiere, artífice del Santa Maria en Brickell y el Epic.  Según Chris Suarez, del grupo CMC, durante su visita a Buenos Aires, “Nuestros clientes argentinos sobrepasan un 15%, en nuestra torre hay interés de inversionistas y de personas que buscan un segundo hogar en el corazón de todo. Brickell ofrece lo mejor de la vida urbana”

OKO Group, fundada por el magnate inmobiliario y hotelero internacional Vladislav Doronin, presentó dos proyectos durante la feria. El primero, fue Missoni Baia, la torre de condominios de lujo de 57 pisos, que se eleva a lo largo de la Bahía de Biscayne.  Grupo OKO, es una compañía de desarrollo urbanístico con sede en Miami.

La torre se enfoca en mantener el patrimonio artesanal de la marca de moda italiana Missoni. Esto se puede ver en la integración experta de estilo, su artesanía e ingeniería. Todos estos detalles hacen de éste, un proyecto de calidad incomparable que presenta al público de clase mundial, una edificación impactante sobresaliendo con una presencia imponente tanto en el horizonte de la ciudad, como en el paisaje de la línea costera, el ya legendario “skyline” de Miami.

El segundo proyecto de la firma OKO Group es Una Residences, lanzado al mercado este año. Una monumental torre de condominios diseñada por los aclamados arquitectos que hicieron el Burj Khalifa en Dubai. Se alzará pronto en la parte de la ciudad donde surgió el moderno estilo de vida en rascacielos en la década de 1970.

Expo Real Estate duro dos días, en el que los visitantes pudieron apreciar gestiones de negocios atractivas y de diferentes rubros, incluyendo el diseño de interiores, el negocio con bitcoins, el liderazgo empresarial en la mujer y otros temas aledaños y complementarios a los bienes raíces y a inversión.

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How To Get to the Top of Miami

September 12, 2018
Brickell is a neighborhood known for it’s Manhattan-esque air and feel. One of the only truly walkable neighborhoods in Miami has seen extensive development for years. With so much of this concrete jungle constructed it seems that space for new buildings seems to be at a premium. But one family who holds a legacy for creating areas such as the Omni has a clear solution for not being able to build out–you build up!

Jerome Hollo spearheaded the creation of the tallest commercial and residential mixed use building in Miami. At over 85 stories tall, the space is only matched in its impressive stature by the amenities and unique details that were selected to be developed into the living experience at the Panorama. With 3 different in-building movie theaters (1 designed for sporting events), cyber cafe and even a Wine Tasting and Locker room, the truly innovative nature of the project stands out amongst traditional luxury buildings.

Beyond the project lays the important philosophical and integrity based values of Jerome Hollo and his family. Having the tallest building in Miami was not merely a decision of ego or accolade in a heavily saturated persona based developer market, rather it was a practical and efficient choice as he states that it is better for the environment and for the city to build up instead of having to developer a mile of water, sewer and electrical on a horizontal mile.

One of the truly surprising facts learned during the interview was the passion that Jerome Hollo and his family legacy focused on creating public parks out of decaying and unsafe publicly owned spaces. In some cases going as far as helping the neighborhoods develop CRAs. What words cannot express are reserved for audio recordings and to capture the spirit and vision of one of Miami’s most innovative developers you can now hear it in his own words in our exclusive audio podcast interview.

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Massing Proportions

Fall 2018
What began as three lines on a piece of paper promises to become an iconic fixture on Miami’s waterfront. Una Residences, the 47-story condominium tower designed by Adrian Smith + Gordon Gill, will preside over Biscayne Bay in the South Brickell neighborhood.

The shape, like other aspects of the project, was the result of overlapping aesthetic and practical design.

Read the full feature.

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Interview with Asymptote Architecture Founder

September 2018
Back in 1989 Hani Rashid founded Asymptote Architecture in New York with Lise Anne Couture turning it into one of the leading Architecture Practices. Today Asymptote is working on striking projects on an international level. No matter the project task the practice is dedicated to challenging the quest of delivering exciting architectural designs while having in mind the prediction of upcoming technology and living trends.

Read the full article

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You no longer need your own mansion to live the luxe life.

Fall 2018
Posh residences are just the start. Resort-like amenities activities, a neighborhood feel and a hassle-free lifestyle are also attracting young professionals and empty-nesters to swank new rental properties.

Life at Miami’s new 85-story Panorama Tower trumps a sojourn at a deluxe hotel. Apartments have five-foot-deep glass-railed balconies, walk-in closets and dressing areas. Residents of it’s 821 apartments have 100,000 square feet of shared amenity space to enjoy.

Read the full feature.

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Linda Higgs Joins Team at Auberge Beach Residences & Spa

August 30, 2018
In anticipation of its late-2018 opening, Auberge Beach Residences & Spa has appointed Linda Higgs director of spa and wellness at the property’s Spa by Auberge (Ft. Lauderdale, FL).

In her new role, Higgs will oversee all aspects of operations, staff management, and treatment protocol. She will curate spa treatments—many of which will be specialized anti-aging treatments—as well as pre- and post-service amenities, which will focus on prevention and recovery for both physical and mental wellbeing.

Higgs is joining Auberge Beach Residences & Spa after a decade-long tenure at The Spa at Shula’s in Miami Lakes (FL), where she was responsible for overall spa operation and marketing. She also serves as vice chairperson on the advisory board for the Florida Spa Association, which she has been a part of for several years.

The luxury, two-story spa will feature a specialized staff, high-end product and retail options, and a multitude of treatments including lymphatic massages, an express beauty bar, self-guided vitality ritual programs, and a number of modern wellness amenities such as a meditation sound lounge, salt caves, an infrared sauna, and an experiential cool deluge shower.

For more on the developing project, visit www.aubergebeach.com.

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Fortune takes over condo sales of KAR Properties’ 2000 Ocean in Hallandale

August 27, 2018
Fortune International Group took over the exclusive sales and marketing of 2000 Ocean, a luxury oceanfront condo planned for Hallandale Beach.

Fortune, led by Edgardo Defortuna, took over sales earlier this month from Douglas Elliman, developer Shahab Karmely confirmed. Karmely’s KAR Properties launched the 39-story, 64-unit project at 2000 South Ocean Drive in October 2017. It’s being designed by Enrique Norten of Ten Arquitectos with packages from Italian design firm MinottiCucine and Minotti SpA.

Defortuna said that the biggest change in strategy is that KAR Properties is moving forward with construction and going vertical without a presales requirement. “[Projects] that are under construction are the ones that are moving these days,” he said.

The developer adjusted the pricing to make it more balanced, Defortuna said. Typical units are now priced from about $2.6 million to $4.4 million, with sky villas and penthouses asking between $8.6 million to $25 million. Prices previously ranged from about $2.8 million to $5.5 million for half-floor condos and from $10 million and up for full-floor units.

Karmely said Elliman is “a world-class firm” but “sometimes with these projects you want to make a shift.”

He added, “It’s a nice fit to have the same company that sold Jade Signature move onto 2000 Ocean.”

Defortuna completed Jade Signature, a 57-story, 192-unit tower in Sunny Isles Beach, earlier this year. It was designed by Herzog & de Meuron with interiors by Pierre-Yves Rochon.

Elliman is still handling sales of One River Point, Karmely’s 60-story luxury condominium project designed by architect Rafael Viñoly on the Miami River.

Karmely declined to say how many units have sold so far at 2000 Ocean. Suffolk Construction will pour the foundation in September, he said.

Jay Phillip Parker, CEO of Elliman Florida, said in a statement that the brokerage is “enormously proud to have engaged in the comprehensive pre-development work and initial sales launch” for the Hallandale project.

Amenities at 2000 Ocean will include two swimming pools, a spa and Hammam room, a yoga room and an oceanfront library.

Hallandale has attracted developers like the Related Group, which completed the Beachwalk hotel condo at 2602 East Hallandale Beach Boulevard, and the Chateau Group, which has proposed Hallandale Square, a large mixed-use development.

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What are Miami’s hot neighborhoods? Should you rent or buy? Here’s our 2018 real estate study

August 6, 2018
For renters, Miami’s greater downtown area is the place to be. Budget-conscious home buyers should consider Homestead, Miami Shores and Kendall. Investors will want to pay attention to the Design District. Miami Beach remains popular, but watch out for inflated prices. And traffic has become one of the key factors when deciding where to live.

These are some of the findings of the 2018 Miami-Dade Real Estate Study, the fourth annual survey of the industry conducted by the polling/research firm Bendixen & Amandi International and the Miami Herald.

One hundred of the area’s top brokers, agents and analysts from all price points of the market were interviewed from May 1-June 1, 2018, to create an honest and credible portrait of the current state of the county’s housing market. Responses were confidential to ensure open conversation. The interviews were conducted in English and Spanish.

To reflect the current state of Miami’s real estate market, several of this year’s questions broke out renters and buyers. The roster of participants interviewed this year was expanded to include more Realtors and brokers specializing in mid-market properties.

“By including people who work outside the luxury market, this year’s study provided a more comprehensive overview of the state of the market,” said Anthony Williams, special projects director for Bendixen & Amandi, who has conducted the last four studies. “Parts of town were mentioned this year that had not come up in previous years.”

Here’s a rundown of the main takeaways from the report. You can read the full version here:

AFFORDABILITY AND RISING VALUES

Miami-Dade’s housing affordability crisis is getting worse. More than half of the county’s families spend more than 30 percent of their gross income on rent — the third-worst rent-to-income ratio in the U.S. According to the Miami Association of Realtors’ June 2018 report, median single-family home prices increased from $335,000 to $355,000 year-over-year; it was the 78th consecutive month of growth. Existing condo median prices rose 2.1 percent, from $235,000 to $240,000.

The supply of homes and condos in Miami-Dade in the $200,000-$300,000 range continues to shrink, while the county’s 2016 median household income — the latest data available — was stagnant at $45,900, according to the Brookings Institution Metropolitan Policy Program.

Yet when survey respondents were asked to rate Miami-Dade’s affordability on a scale of 1 to 10, with 1 being not affordable whatsoever and 10 being very affordable, the aggregate average was 7 — a marked improvement from last year’s result of 4.6.

Analysts say the increased optimism reflects an oversupply of unsold condos and a growing number of new rentals buildings — two factors that should make sellers and landlords adjust their asking prices in order to remain competitive.

“You’re starting to see the repercussions of overbuilding,” said Peter Zalewski, founder of Cranespotters, a website that tracks condo development in South Florida. “The supply of rental apartments is going through the roof and as the cranes come down, rents are going to come down, too. And there’s a 32-month supply of condos in downtown Miami alone, so the only way you’re going to move a condo in this market is to lower your price.”

Half of the study respondents said the current market inventory of luxury properties priced at $1 million and above is high, with comments such as “the industry is stagnant,” “tons of inventory on the market much longer” and “buyers’ market right now.” For properties under $1 million, only 40 percent said inventory was high, while 29 percent deemed the current market supply to be low.

Daniel de la Vega, president of One Sotheby’s International Realty, said luxury properties are trading at 15 percent to 20 percent lower than their asking price, but they’re still selling. The firm brokered the sale of 311 single-family homes over $1 million in the second quarter of 2018, a 1.3 percent increase year-over-year from the first quarter of 2018. The firm sold 263 condos priced over $1 million over the same period. That was a 30 percent increase over the same period last year.

“You have seven months’ supply in the million-dollar single-family home market and 70 months’ supply at the over-$10 million range, so there’s a lot of inventory,” he said. “But these properties are still selling and the [luxury] market is going to continue to appreciate. It will just be at a normal pace, nothing drastic.”

The overall confidence in Miami-Dade’s residential home values is cautious, with 44 percent of respondents expecting home values to appreciate and 35 percent predicting depreciation (14 percent think values will remain flat).

Strong demand for mid-market homes (priced between $250,000-$600,000) explains why 51 percent of respondents expect that segment to appreciate. Only 37 percent think luxury properties will gain in value.

LOCATION, LOCATION, LOCATION

According to the most recent residential market study by Integra Realty Resources, nearly 4,800 new rental apartments were completed from 2014-2018 in the Greater Downtown Miami area, most recently the 85-story Panorama Tower and the 34-story Square Station.

Another 5,062 units are currently under construction — and that number doesn’t include the large number of condos that will be listed for rent by their out-of-town owners.

This explains why Brickell, Downtown and Midtown were the top three locations chosen by respondents as the hottest areas in Miami-Dade right now for renters. For buyers, the top three hottest areas — Coral Gables, Miami Beach and Coconut Grove — were all outside the increasingly dense downtown core.

For the fourth year in a row, Miami Beach was once again named the most overvalued neighborhood, with a median price per square foot price of $520, according to Zillow. Brickell clocked in second at $497 per square foot, while the luxury enclaves of Sunny Isles Beach ($554) and Key Biscayne ($753) tied for third.

“Brickell has a majority of the properties that are condos,” a broker from Miami commented for the study. “They are always overvalued, because they are catering to offshore buyers.”

Homestead, where the median square foot price is $140, was deemed the most undervalued neighborhood. Miami Shores ($338) came in second, because its price is lower other areas with comparable housing stock and quality of schools, such as Pinecrest and Coral Gables. North Miami Beach ($237), Little Havana ($254) and Kendall ($226) tied for third.

“The increase in prominence of Miami Shores in this year’s study is the result of our inclusion of more downmarket sources,” Bendixen & Amandi’s Williams said. “Miami Shores is one of those neighborhoods that is in between price categories, so it was mentioned by brokers in both the luxury and non-luxury fields.”

Respondents chose Coral Gables as the place they would choose if they were in the market for a single-family home, and opted for Brickell if they were looking for a condo or apartment.

The Design District/Midtown were the areas most respondents said they would suggest to an investor or homeowner looking to make a good return on investment five years down the road, a reflection of the increasing attention the carefully curated neighborhood has been attracting.

“Residential properties in [this area] remain very well priced, especially when you consider how the Design District is becoming a booming cultural and commercial destination,” said Dacra Development CEO Craig Robins, who has been developing the Design District since the 1990s. “Miami has few pedestrian friendly places that are urban and yet human scale. The chance to walk from your house to great restaurants, shops, museums all in a context of inspiring public art, architecture and design is rare. “

LESS CASH BUYS, MORE FINANCING

The percentage of cash buyers (31 percent) and mortgage buyers (47 percent) stayed nearly identical from last year’s results, continuing the radical change from 2015, when cash buyers represented 68 percent of the buyers and mortgages made up only 14 percent.

Mike Pappas, president and CEO of The Keyes Company, said the steady strength of home financing is reflective of current interest rates, which have ticked up to a national average of 4.5 percent for 30-year, fixed-rate mortgages but are still well below the pre-recession rates of the 1990s and early 2000s.

“We’re back to a more traditional model of real people buying, not just cash investors,” said Pappas. “Banks are more confident in the real estate market and are offering more options. As interest rates inch up, that motivates fence-sitters who might be holding off on buying a home to jump in now before they get any higher.”

THE VARIABLES

Despite last year’s Hurricane Irma scare and the growing concern over South Florida’s vulnerability to sea level rise, 69 percent of respondents said Miami’s close call with a Category 5 storm did not impact the level of importance their clients place on climate change. Rising windstorm insurance rates and property taxes were much bigger factors in real estate transactions, with 61 percent of respondents saying they had a “high influence” in their clients’ buying decisions.

“People have been used to property taxes for years, so people understand,” a broker from Miami-Dade said. “But windstorm insurance is affecting [buying decisions] in a way not seen before.” Another industry expert commented, “Property taxes have no influence, but windstorm insurance matters more than anything else.”

The Trump administration’s tax reform has also had a noticeable impact on the local market — both pro and con — according to 57 percent of respondents. One Coral Gables agent said the reform “made Miami one of the most attractive markets in the country in addition to the amenities that we already had to offer,” while an industry expert with the city of Miami said, “Foreign buyers are scared to invest here. Before they could without having to worry about problems with the administration.”

According to the study, foreign buyers represented only 26 percent of real estate transactions, continuing a steady decline from 2015, when they represented 56 percent of buyers. The percentage of local buyers grew to 43 percent, up from 11 percent in 2015. Out-of-town buyers accounted for 18 percent of buyers, with the majority of those coming from New York.

Respondents to the study said the bulk of foreign buyers came from Latin America (21 percent). Specific countries that were singled out included Venezuela (21 percent), Brazil (20 percent) and Colombia (11 percent). Europe, Russia, Mexico and Canada also earned mentions.

Henry Torres, president and CEO of The Astor Companies, said that although the pre-construction buyers overall at his Merrick Manor condo development at 4200 Laguna St. are 60 percent foreign, this year’s buyers have been predominantly locals, with foreign buyers “few and far between,” he said.

Prices for the 227 units at the 10-story building range from $449,000-$2.5 million. Construction is expected to be completed by the end of 2018, and 58 percent of the condos have already been sold.

“We used to have a big influx from Venezuela, but that has slipped to practically nothing,” Torres said. “We’re focusing most of our marketing in Pinecrest, Coral Gables, South Miami and out-of-town U.S. buyers.”

The most important variable on all real estate transactions in Miami-Dade? Traffic congestion, with 75 percent of respondents saying it influences decisions “a lot” and 12 percent saying “somewhat.” Only 4 percent said “very little” and 9 percent said “not at all.”

The perpetual gridlock may be one of the biggest contributing factors to the booming population in downtown Miami. Mika Mattingly, executive vice president at Colliers International who launched the firm’s Urban Core Division, said that some of the biggest development projects in the works in Miami-Dade — such as Moishe Mana’s ongoing $350 million assemblage of properties in Wynwood and along Flagler Street — are proof of the confidence developers have in the downtown area, where a growing number of people are ditching their cars altogether.

“Moishe is building a community there where you wouldn’t need to leave unless you wanted to,” she said. “Almost everyone who works in my office is between 20 and 27, and they don’t want to have to get in their cars. They want a real community — not just one big street like Lincoln Road — and you’re already seeing that come together. You go to the downtown Whole Foods at 8 p.m. and it’s like a bar in there, it’s so busy. You can walk to bars and restaurants. You can stroll down the street and see your friends. Daniel Peña [director of Stambul Construction] is turning the historic Old U.S. Post Office into an entertainment complex. Traffic is brutal, it’s everywhere, and it’s changing Miami.”

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High-End Living in Miami With Fashion and Fast Cars

Argentinian real-estate developer Juan Pablo Verdiquio is a self-confessed “car guy.” He owns a Porsche and several Ferrari and Audi sports cars. In 2015 he paid almost $4.2 million to buy a slightly different model of Porsche: a three-bedroom condo in Miami’s Porsche Design Tower.

Mr. Verdiquio’s decision had nothing to do with his need for speedsters. Rather, he said he thinks the Porsche brand could help ensure that his condominium maintains its value, even if the Miami market, known for its dramatic ups and downs, gets choppy.

“Buying into a brand that’s been around for 100 years? I’d take that bet any day. It’s like buying into Coca-Cola , ” said Mr. Verdiquio, 41.

In the Miami area alone, Porsche, Armani, Fendi and Missoni have loaned their names to luxury condo projects over the past few years. And currently under construction on Biscayne Boulevard Way is an Aston Martin-branded 66-story condo, where units are expected to start at roughly $700,000 and go up to around $50 million for the penthouse, according to an Aston Martin spokesman. Miami’s flattening luxury realestate market will test the power of these luxury brands to persuade buyers—many of them international—to pay top dollar for a home.

In reality, luxury-branded residences command almost no price premium over comparable luxury condos in the Miami area however, according to research by listings websiteZillow.com . In an analysis of the Miami market by Zillow, the company found that the price per square foot commanded by “designer properties” was indistinguishable from prices for other luxury condos, according to a spokeswoman. At the same time, the inventory of newly built residences continues to rise, with 4,868 new condo units slated for delivery this year, the most since 2008, according to data from brokerage Fortune International Group. The Aston Martin tower specifically could face headwinds, said Peter Zalewski, a principal with the Miami real-estate consultancy Condo Vultures, because it’s just getting out of the ground as the market reaches peak supply. (Developers declined to discuss the percentage of units in luxury-branded buildings that have been sold.)

“They’re swimming out and the crest of the wave is coming right towards them,” he said.

Some industry experts also caution that affiliating with a new condominium project in this climate could be risky for the reputation of luxury brands if the project doesn’t come to fruition, or if sales don’t live up to expectations.

“I tell them before we start that it can do more harm than good,” said Gil Dezer of Dezer Development, whose firm has partnered with Porsche Design Group and Armani/Casa Interior Design Studio on new Miami towers and who employed the model in the early 2000s with President Donald Trump. “If you don’t get financing, if the units come out badly, there are so many things that can happen.”

Major real-estate developers, such as the Related Group and HFZ Capital Group, have both paused on new projects in Miami over the past 18 months amid rumblings of oversupply, for example.

“The premise that the brand adds or helps maintain value becomes challenged when you have a lot of competition entering the market,” said appraiser Jonathan Miller, who tracks Miami sales. “It becomes less black and white.”

There are other advantages, however, said Robert Thorne, 57, the owner of a wellnessoriented design firm, who paid $1.4 million for a two-bedroom unit at the Armani/Casa project last year. “Outside of the fact that it brings value, it secures the fact that the building is not going to change much from the original proposal,” he said. “Once the developer is sold out, the condo association can’t forgo the upkeep they committed to.”

He said he believes the luxury brands put more pressure on developers to keep the building up to appropriate standards.

The luxury companies themselves have a lot to gain in these partnerships. The brands consult with the developers on design choices for the buildings’ common areas and lobbies, for example. In exchange, they pocket a fee that’s usually in the tens of millions, according to one developer. They can also pocket a small percentage of sales.

At the Aston Martin building, the car company masterminded a design that includes door handles wrapped in stitched leather, a carbon-fiber welcome desk in the lobby and an Aston Martin parked outside. The Porsche Design Tower famously features a car elevator that allows residents to drive right into their apartments. At the Missoni Baia building developed by OKO Group, the Miami-based development company founded by Russian billionaire Vladislav Doronin, the Italian brand’s iconic zigzig pattern pervades the furnishings in common areas.

Expanding a brand’s reach helps luxury-goods companies face the challenges of ecommerce and attracting younger shoppers. “These fashion companies have never been under more pressure to realize returns when their core business is besieged by all sorts of other issues,” said Pauline Brown, the former North American chairman for LVMH Moët Hennessy Louis Vuitton, the luxury-goods company.

Simon Sproule, the chief marketing officer and chairman of the Americas for Aston Martin, declined to say how much the company received for its Miami project. But the returns have be high enough for it to explore other opportunities.

“We’re in discussions with a number of different projects around the world,” he said. “It might look on paper like a stretch for us to be doing real estate but we have expertise in design and knowledge of the luxury market.”

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Revisitar Miami

July 2018
Mirado desde el sur, hay un punto que, por más de cinco siglos, muchos han amado odiar. Lo peor y lo mejor puede llegar de allí, lo inesperado se fabrica en ese punto y lo reconfortante se suda también en el noroeste.

Read the full feature here.

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Peep the Panorama

July 11, 2018
Panorama Tower is taking amenities to new heights. Known as Florida’s tallest tower, Panorama invites die hard soccer fans to watch the World Cup (and all other major sports events) in its dedicated sports movie theater. With the 2018 FIFA World Cup entering the quarter-finals, I wanted to see if you’d be interested in covering this amenity for sports fanatics.

Within 650 square feet of space, this theater will host popular sports games like the FIFA World Cup, the World Series, Super Bowl, NBA Finals and every game in between. Accessible to residents and their guests, the sports theater will comfortably accommodate larger groups – offering couch seating and low-set tables in a private setting. Upon entry, residents can purchase snacks and beverages before and after showings at the plush theatre bar, “Club Osteria Del Teatro.” You can view the cinema, here.

The sports theatre is one of three movie theatres located inside Panorama Tower’s Cinema. Located amongst 100,000 square feet of amenities, the three-theater cinema offers stadium-style seating and handicap and wheelchair viewing spaces.

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Luxury Miami – New Real Estate

July 2018
Enter via private elevator to these 135 high-rise homes, featuring floor-to-ceiling glass doors and glass balcony.

Read the full feature here.

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Panorama Tower opens as Florida’s tallest building

July 9, 2018
Panorama Tower has reached a milestone for Florida development by completing construction as the state’s tallest building.

At 868 feet, or 85 stories, the Miami building by Florida East Coast Realty is the tallest residential tower south of New York City. The building has a mix of apartments, hotel rooms, offices, and retail space.

Because of the building’s great height, its elevators for the higher floors zoom up at 1,200 feet per minute.

Located at 1101 Brickell Ave., Panorama Tower contains 821 apartments, a 208-room Hyatt Centric hotel, 400,000 square feet of office space, and 75,000 square feet of retail. Residents started moving into the building in June. The first 50 floors have a temporary certificate of occupancy, so residents will be moving into the upper floors later this year.

Rents start at $2,525 per month for a one-bedroom apartment, $2,758 for a two-bedroom apartment, and $6,736 for three-bedroom apartments. Although that is higher than the average rent in downtown Miami, no other building can offer views from such a height as Panorama Tower.

Each apartment has a wine cooler and bar plus a media package with fiber optic wiring. The 100,000 square feet of amenities at Panorama Tower include a pool deck, a children’s play room, a game room with a billiards and foosball tables, a community dining room, a wine room, a cyber cafe, three theaters with movie-style seating, a 15,000-square-foot fitness center, a sauna, a steam room, electric vehicle charging stations, a pet care facility, a restaurant/lounge on the 52nd floor, and a “muse” room for music practice and recording.

Tenants in Panorana Tower include Brickell International Academy, Florida International University for graduate programs in business and real estate, and Pipeline Brickell.

See a gallery of the hotel at Panorama Tower here.

Meanwhile, FECR plans to build two Miami skyscrapers that would exceed Panorama Tower in height: One Bayfront Plaza and the Towers by Foster + Partners.

To view photos and video, click here.

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An ode to ‘the biggest’ things in South Florida life

July 9, 2018
South Floridians like BIG things and we cannot lie.

Just look around (or up) at the behemoth buildings, gargantuan cruise ships and the larger-than-life sculptures (the colossal Pegasus statue outside Gulfstream Park in Hallandale Beach, for example).

In the famous words of Vermont Senator Bernie Sanders, we’re talking HUGE! (Look through the photo gallery above if you don’t believe us.)

They represent some of the biggest things about life in the tropics, in the state and in some cases, the world. (We’re looking at you Butterfly World, the Broward oasis at Tradewinds Park in Coconut Creek with more than 3,000 butterflies.)

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The Best Luxury Residences With Space For Soccer

July 3, 2018
The 2018 FIFA World Cup, the most-watched sporting event in the world, just kicked off in Russia, and all over the globe fans and non-fans alike are getting in the soccer spirit. But the soccer frenzy isn’t just growing with the start of the Cup.Some properties in New York City are being designed to accommodate residents who play soccer and want to do so without leaving their home, with the inclusion of indoor and outdoor fields, simulators, and more. Here is a round-up of the most lux properties with soccer amenities.

180 East 88th Street
Situated in the Upper East Side’s Carnegie Hill neighborhood, 180 East 88th Street is a condominium inspired by New York during the 1920s-1940s. Featuring 48 graciously-appointed private residences designed and developed by DDG, this is an ideal spot in NYC, including a twist: residents have access to a partially indoor soccer pitch. Residents can feel free to practice their penalty kicks at any time, making this space ideal for soccer lovers.

Waterline Square
Waterline Square is a three-tower development in NYC, intentionally designed with expansive indoor soccer fields. Designed by Rafael Viñoly Architects, Richard Meier & Partners Architects, and Kohn Pedersen Fox Associates, this waterfront development is on the Upper West Side of Manhattan and features 263 luxury condominium residences. The property includes several sports and fitness spaces, specifically an indoor soccer field with lots of turf-playing surface.

Madison Square Park Tower
The 63-story Madison Square Park Tower designed a “Simulator Room,” where residents can play any sport of their choosing virtually, including soccer, without ever leaving the building. Madison Square Park Tower is also the tallest residential building between Midtown and Lower Manhattan at 777 feet.

Missoni Baia
Missoni Baia is certainly suited for soccer super fans who would be ecstatic to share an address with a professional soccer star. This 57-story luxury condominium lies in Miami’s popular Edgewater neighborhood and is home to Miguel Borja, forward for the Brazilian club Sociedade Esportiva Palmeiras, participating in the FIFA World Cup for 2018 in Russia. Notable features include five swimming pools, including an Olympic-sized lap pool.

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4 Luxury Sky High Living Destinations Like Comment Share

July 2, 2018
From Baltimore to Hawaii, luxury high-rise buildings have introduced a new standard of living across the United States. Effortlessly blending with cityscape, these residential buildings transport you to an oasis in the sky. Below we’ve rounded up some of the luxury high-rises currently on our radar:

414 Light Street
414 Light Street is the tallest residential tower to stand not only in the city of Baltimore, but the entire state of Maryland. Standing at 44 stories encompassing 394 luxury residences, 414 Light Street boasts hospitality-influenced services and resort-inspired amenities, including a 7th floor sky park, a first-of-its-kind 16ft outdoor dual-sided movie theater, al fresco kitchen and dining, pet park and pet spa, fireside retreat room, game room, media room, entertainment kitchen and bar, yoga and meditation room, club-caliber fitness room and business lounge, and 12,300-square-feet of ground floor retail. The residences are slated to open in summer of 2018.

Auberge Beach Residences 
Located in Fort Lauderdale, Auberge Beach Residences & Spa is a new luxury beachfront condominium property situated on city’s last significant beachfront parcel. Anticipated to be the most refined high-rise and only on-the-sand luxury residential offering in the area, Auberge Beach Residences and Spa will be home to 171 residences designed to capture sweeping ocean views, including expansive terraces to enjoy year-round indoor-outdoor living. The North Tower will welcome residents this August with the South Tower slated to open later this year.

Oceanwide Plaza
Oceanwide Plaza is slated to be one of the most significant mixed-use developments in the history of downtown Los Angeles. Oceanwide Plaza will encompass a variety of lifestyle experiences including a new five-star Park Hyatt hotel, a collection of curated retailers and restaurants and a total of 504 ultra luxury residential offerings of that will completely revolutionize the urban lifestyle of downtown Los Angeles. Comprised of three residential and hotel towers and an approximately 153,000 square foot open-air galleria set, the development will create a vibrant new shopping, dining and entertainment destination. Completion is set for 2019.

‘A’ali’i
Located at Ward Village in Honolulu, A‘ali’i will feature 751 homes. Created by acclaimed architectural firm Solomon Cordwell Buenz in partnership with renowned interior architect Lauren Rottet of Rottet Studio, the Hawaiian high-rise will be the third tower of sky-high living in the mixed-use destination of Ward Village. The studio residences at ‘A‘ali‘i are designed for maximum flexibility and versatility, featuring tailor-made furniture, including a Smart Wall with a retractable sofa bed and desk. ‘A’ali’i will be curated with turnkey packages featuring Bosch appliances, an array of thoughtfully designed, high-quality accessories ranging from cookware to complete bedding and bath, and modern “smart” furniture tailor-made for each home.

To view the gallery, click here.

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Inauguran torre en Miami

July 2, 2018
El miércoles 27 de abril fue inaugurado Panorama Tower, un nuevo rascacielos de uso mixto de 85 niveles ubicado en el distrito Brickell, en la parte céntrica de la ciudad de Miami, Florida.

Luego de que el proyecto estuviera suspendido por algunos años revivió en 2012 y se contrató al arquitecto Moshe Cosicher para rediseñar la propuesta original.

El edificio mide 268 metros de alto y sus interiores han sido divididos en espacios residenciales, comerciales, de oficina y en un hotel.

Hasta el momento es quizás la edificación más alta de Miami, pero pronto será superada por otras torres que actualmente se encuentran en proceso de construcción.

El concepto de interiores fue proporcionado por Zyscovich Architecture y se basa en un estilo contemporáneo donde prevalece el diseño tanto en mobiliario como en sus principales acabados.

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Real estate pros hope World Cup frenzy will boost sales

June 29, 2018
With the World Cup in full swing, developers and brokers are capitalizing on the 2018 FIFA frenzy to try to boost the visibility of their South Florida luxury projects.

Brokers at Paramount Miami Worldcenter’s sales center are watching the games on a massive 760-square-foot video display screen. “It’s a good way to bring people to work early,” said Daniel Kodsi, developer of Paramount Miami Worldcenter.

Soccer and its international following played a large part in the design of the project, he said. The 60-story tower, part of the massive Miami Worldcenter project near downtown Miami, is the only condominium with its own soccer field, according to a spokesperson. It will be built on the building’s 9th floor amenity deck.

The soccer field “was a huge promotion for sales,” Kodsi said, adding that professional soccer players have bought units at the project because of it. “Everyone loves soccer. It’s a very popular sport around the world and we cater to an international audience.”

A spokesperson confirmed that at least six professional soccer players have bought units in the tower, including players in the Turkish, Colombian and Cameroon national teams. Kodsi said only about 12 percent of its buyer pool is from the United States. The project is more than 70 percent sold with $400 million in sales. The day before the World Cup, Paramount Miami WorldCenter hosted a kick-off event with more than 150 brokers.

Real estate developer Edgardo Defortuna decided to watch the games up-close – in Moscow.

The president and CEO of Fortune International Group is on a trip with his family and is rooting for the Argentine and Peruvian national teams. On the stands, he sported an Argentine national team scarf while holding the flag of his home country with his sons.

According to Defortuna, a deal can be made anywhere in world and that could mean in a stadium hosting a high-profile international soccer game. “I’ve been spending time with very wealthy clients or potential clients. In addition to being a lot of fun, it’s great networking,” Defortuna said.

Vlad Doronin’s Missoni Baia luxury condo tower project is also getting into the action.

To motivate its Fortune sales team, the developer promised a four-day trip to Moscow, along with two tickets to a World Cup match, for whomever generated the most sales from March to June. Doronin’s OKO Group broke ground on the 249-unit tower in October.

The project is cheering on World Cup soccer professional Miguel Borja, who recently purchased a unit at the building. Borja is representing his home country of Colombia at the 2018 FIFA World Cup. He plays forward for the Brazilian club Sociedade Esportiva Palmeiras and was crowned South America’s “Footballer of the Year” in 2016.

In Brickell, the Gazit Horizons-owned building at 90 Southwest Eighth Street now features a 10,000-square-foot mural Brazilian soccer star Neymar da Silva Santos Júnior.

The giant mural will be on display through July 15, which marks the end of this year’s World Cup championship. Miami was one of three cities in the United States to feature a giant public art mural by artist Brandan Odums. Other murals feature Egyptian star Mohamed Salah in New York City’s Times Square and French standout Paul Pogba in New Orleans. The murals are part of Bleacher Report’s #LargerThanLife campaign.

Gazit Horizons is the U.S. arm of Tel Aviv-based Gazit-Globe Ltd. It paid $29.45 million for the development site, near Brickell City Centre, last year.

Last Thursday, Canarias at Downtown Doral threw a kickoff event to commemorate the World Cup, while at the same time showing six of its luxury model homes to potential buyers.

Armando Codina’s and Jim Carr’s CC Homes is planning to build 423 single-family homes and 52 townhomes in Doral. The project is adjacent to Codina Partners’ massive Downtown Doral mixed-use development with condo towers, retail and restaurants, a Publix supermarket, a school and more.

Ritz-Carlton Residences in Sunny Isles Beach is also hosting viewing parties for brokers, together with the nearby planned Residences by Armani/Casa project.

A joint venture between Fortune International Group and the Château Group is developing the 52-story, 212-unit Ritz-Carlton Residences tower at 15701 Collins Avenue. On Thursday, the project hosted two back-to-back games at its sales gallery.

Dezer Development, the Related Group and Rockpoint Group are developing Residences by Armani/Casa, the country’s first Armani/Casa-branded building. The planned 56-story, 308-unit tower is under construction at 18975 Collins Avenue.

Both projects are slated to be completed in mid-2019.

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Una Residences: Un proyecto de viviendas de lujo en Miami

Una Residences was recently featured on Trendiando’s YouTube channel. View the video here.

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How the South Florida Skyline Is Changing, One Logo at a Time

Some days in South Florida, it’s hard to separate the cranes from the completed projects. Dozens of tall, lanky machines are literally building the region’s next generation of luxury living from the ground up.

Perhaps what’s more remarkable than the sheer number of developments are the names attached: Armani, Fendi, Missoni, Porsche, Aston Martin—the list goes on.

Some of the biggest names in luxury consumer goods have found a new way to market their brand in the form of high-end real estate initiatives. Each is competing against the others for foreign and domestic dollars alike that don’t seem to be dwindling anytime soon.

“The numbers are encouraging for buildings like these—ones that have a unique personality,” says Aston Martin’s vice president and chief marketing officer, Simon Sproule.

The car brand recently broke ground on a 66-story waterfront tower in Biscayne Bay, with residences ranging from $700,000 to $50 million for a penthouse. The property is 35 percent sold even though it’s three years away from completion.

Although things were slow over the last couple of years, 2018 seems to be roaring back: Mansion Global reports that total contracts for luxury condos at the end of March were up 22 percent over last year. And contracts for Miami Beach in particular rose 92 percent in the first quarter.

Developers and realtors alike are banking on these collaborative projects to continue driving interest in Miami and the surrounding cities up the Atlantic coastline.

“There are a level of services in these buildings that haven’t been seen in 30 to 40 years,” says Porsche Design Tower and Residences by Armani Casa developer Gil Dezer.

Both projects, a stone’s throw from each other on Sunny Isles Beach, define the new level of hospitality that buyers now expect.

Completed in early 2017, the Porsche Design Tower (where residences range from $6.3 million to $32.5 million) was built in an industrial-chic style paying homage to some of the German brand’s legendary automotive designs. It includes a critically acclaimed car elevator, which takes residents’ cars directly to their condos, and the building even has an option to put the car directly in one’s living room as a showpiece. The tower is at 94 percent capacity.

Armani is offering 56 stories of classic Italian style, directed by Giorgio Armani himself. The entire residence is inspired by the fashion house’s home division and will feature an art collection easily valued in the millions. It’s of a more subdued contrast to the flashiness of its nearby German neighbor but is eloquent luxury nonetheless, with prices starting at $2 million and rising to $15 million for the penthouse.

Back in Miami proper, another Italian fashion house is staking a colorful claim to a swath of the coastline in Midtown.

A walk into Missoni Baia’s sales gallery is like stepping through a portal into an impeccably curated design agency. Colors pop everywhere off the stark white walls, with individual paintings and sculptures placed with a visible amount of thought.

The rectangular showroom sits on what will eventually be the pool deck of the 649-foot-tall tower. Unlike other high-end projects in the area, Baia has some extra land behind the tower, which will be dedicated to a full-service amenity center with everything from an Olympic-sized swimming pool (one of five on-site) and an elevated tennis court. It’s really like living on a small resort within the confines of the tightly packed Edgewater neighborhood.

The most central example of South Florida’s branded residence boom is the Aston Martin project right in downtown Miami. It’s an extension of the British brand’s nonautomotive partnership division, which has put its heritage on everything from a speedboat to a design consultancy.

Having a physical real estate footprint is a big marketing tool for a company looking to raise its U.S. profile. “The U.S. is our single biggest market, 15 percent to 20 percent of our global sales,” Sproule says. “This project was symbolically and incredibly important for us. It’s provided confidence as a proof of concept that it’s actually happening.”

Therein lies a common thread among all of these branded real estate endeavors: expansion and opportunity.

Transitioning from their traditional industry to real estate signals that these consumer brands are bigger than just a car, a bag, or a piece of furniture; they are full lifestyles that the wealthy can not only obtain but also immerse themselves in. A home is one of the truest representations of one’s personality—so what better way to represent oneself than live within the confines of a highly coveted luxury brand?

It’s also a nod to the European and Latin American influence in South Florida—Miami in particular. These brands are finding success in part because the existing client base can relate to the origins of many of these brands well beyond their sellable goods. With the continued influx of international money into South Florida coupled with tough competition for prime land, there’s no reason to believe that the region is in store for another luxury slowdown anytime soon.

“We’re not creating any more waterfront,” Dezer says. “This is it.”

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Brickell Flatiron se abre a la venta en Puerto Rico

Con el 50 por ciento de sus 549 apartamentos ya opcionados, la impresionante torre residencial de Miami será el rascacielos más alto en el este de los Estados Unidos. Brickell Flatiron se eleva a 736 pies de altura sobre el paisaje urbano de Brickell, siendo el más reciente ejemplo de desarrollo en pro del crecimiento del centro urbano de Miami.

Los residentes de Brickell Flatiron despertarán listos para hacer ejercicios cardiovasculares en el exclusivo Sky Spa que estará ubicado en el tope de la torre de 64 pisos. Asimismo, podrán nadar disfrutando de la salida del sol cada mañana, un indiscutible valor añadido para los afortunados propietarios.

Diseñado para aprovechar la azotea en toda su extensión y de ventana a techo, el Sky Spa incluirá piscina, “spa” y gimnasio, a 736 pies sobre el nivel de la calle, varios pisos por encima de los “penthouses”, cuyos precios comienzan en $474 mil.

“La población del centro urbano de Miami ha ido en franco crecimiento y esto ha provocado una oleada de ofertas para el mercado residencial”, explica el empresario de bienes raíces Ugo Colombo. “Estamos orgullos de que nuestros anteriores proyectos, hoy están altamente valorizados en el mercado y esto en gran parte también lo acredita el hecho de haber creado muchos espacios públicos únicos”, añadió.

Entre las comodidades del Club Level se incluye una segunda piscina en el piso 18 diseñado específicamente para nadar haciendo vueltas, piscina y sala de juegos y zona para niños, un cuarto estado de la técnica de detección con un sistema de proyección de calidad cinematográfica y controles basados en tabletas inalámbricas, salón para eventos privados y espacio para reuniones, una mesa de billar y sala de cigarros y una cava de vinos con armarios climatizados.

Con apartamentos que van de una habitación a tres habitaciones con cuatro y medio baños y varios tipos de “penthouses”, la torre goza de una localización privilegiada en el 1001 South Miami Avenue, a tan solo una cuadra de la alegre Brickell Avenue: lugar céntrico en uno de los barrios urbanos más dinámicos de la ciudad, cerca de decenas de hoteles de alta gama, restaurantes, cafeterías, salones y tiendas de lujo incluyendo The Shops at Mary Brickell Village and Brickell City Centre. También cuenta con múltiples opciones de transporte público como el Metromover y Trolley Downtown a pocos pasos de distancia, conectando así a los residentes de Brickell Flatiron con grandes atracciones de Miami.

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Destination Luxury – The latest in oceanfront real estate and resorts

June 12, 2018
OKO Group, led by Vladislav Doronin, recently announced the launch of Una: a monumental condominium tower designed by Adrian Smith + Gordon Gill Architecture.

Read the full feature here.

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How Augmented Reality and Virtual Reality Are Opening Doors in Luxury Real Estate

June 11, 2018
When virtual reality (VR) and augmented reality (AR) entered the real estate industry a few years ago, there was plenty of uncertainty. How would the technology change the traditional real estate transaction? Would it replace brokers and realtors? Who was going to pay for it?

“It didn’t replace the agent,” says Scott Durkin, president and COO of Douglas Elliman. “It’s actually streamlined the process.”

The common tune across the industry now is that VR (immersive computer-generated environments experienced by wearing a computerized headset) and AR (images, sounds, and touch capabilities that “overlay” the real world, creating an enhanced version of reality) are expanding the framework for the future of the business.

Take the Curate app from Sotheby’s International Realty, for example. Initially launched on Android and released last month for iOS, it uses AR to place digital images of furniture in the room of a prospective home (or any home, for that matter).

Using modeling technology from VR company Rooomy, users can imagine how they might functionally live in their homes with furniture options set to their individual tastes.

“When the agent invites the client into the home, it helps them [visualize],” says John Passerini, the VP of interactive marketing at Sotheby’s International Realty. “They walk into a bedroom and can turn it into a den.”

At the high end of the market, many buyers come in with their own personal touches anyway, and Passerini wants to create a new ad platform via partnerships like the one they’ve developed with interior marketplace Viyet.

While in Curate, users will be able to see furniture models directly from Viyet’s inventory and then click through to purchase these pieces. It’s a turnkey solution that, if it catches on, represents a whole new dimension of in-app buying for big-ticket items.

“We’ve created a new way for these companies to get ahead of their clients,” Passerini says.

Another large benefit of VR and AR is the ability to close the distance between prospective buyers and the actual property itself.

In Miami, one of the most acclaimed examples is the Herzog & de Meuron–designed Jade Signature, whose sales team used Samsung Gear VR Goggles to transport interested parties to open-air kitchens and beautiful common areas with the Sunny Isles beach as the backdrop.

“It offers a much clearer understanding of the design and attention to detail,” says Edgardo Defortuna, CEO of Fortune International Group (the developer behind the building).

While Fortune International Group didn’t produce estimates on the conversion rates from its VR pitch, its current implementation of the technology speaks volumes to its success. “We’re using it in all of our projects,” Defortuna says. He notes that the technology is a topic of conversation at every initial meeting, regardless of whether they are developing a property or representing sales and marketing agents.

Even in fast-moving markets like Miami and New York, the initial cost of not only the hardware but the imaging and rendering, too, isn’t stopping firms from making the investment. (The latter can cost north of $3,000 just to shoot 360-degree video.)

“It really helps when we travel to different countries—especially in Latin and South America,” Defortuna says.

And when you’re selling seven- and eight-figure properties, any strategic advantage is vital.

Because both VR and AR are still in their infancy in real estate, the technologies are still adapting to the breakneck pace of the business. Paul Boomsma, president and CEO of Leading Real Estate Companies of the World, cites a 21st-century approach to solve one of these issues. “It’s still laborious to get [360-degree cameras] in every nook and cranny, so agents are embracing FaceTime as a showing method. It’s easy for the client and becomes very personal,” he says.

Others, like Clelia Warburg Peters, president of Warburg Realty and cofounder of real estate tech accelerator MetaProp, believe that gateways like Curate are only offering part of the picture.

She says, “AR starts with what’s there, but it’s hard to imagine that space becoming a space that’s yours.” She adds that’s why Warburg, a company that closed $202.5 million of real estate last year in New York, hasn’t made the full-scale investment into VR or AR. She wants to see something that can fully bring buyers’ particular visions to life.

“I think we’re 12 to 18 months away from something being meaningfully useful to consumers,” she says. With the VR and AR markets poised to grow exponentially (PwC projected that there will be over 40 million active VR headsets in the U.S. by 2022, and Global Market Insights estimated that the global market for AR products will exceed $50 billion by 2024), developers and realtors will continue to find more meaningful ways to market and show properties.

It’s clear that in the interim, VR has proved useful for forthcoming properties and developments that don’t yet have a physical product to show prospective buyers, while AR is helping to paint a picture—even if the brushstrokes are still fairly pedestrian. On a case-by-case basis, both technologies are showing new perspectives and captivating those who have jumped on board.

When asked about the success of Jade Signature’s VR efforts, Defortuna emphatically says, “Would I do it again? Yes, in a second.”

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Inside the High-End Mailrooms Wealthy Residents Visit When They’ve Got Mail

June 7, 2018
Each morning, Diane Legault heads to an all-white space with floor-to-ceiling glass windows framing the Atlantic: the mailroom at Jade Signature, her beachfront condo building in Sunny Isles Beach, Fla.

“It has the most beautiful views,” the 57-year-old pharmaceutical consultant says of the mailroom at Jade, where she lives in a $5.4 million condo. She says she enjoys chatting with neighbors while sorting her mail at the reclaimed-wood table. “I take my time” going through the mail, she explains. “You don’t mind doing it there because it’s just such a lovely atmosphere.”

The mailroom—that spot in every building where residents grab their bills and catalogs—is in transition. On one hand, postal mail grows ever less relevant amid the digital revolution: Overall volume fell by 4.9 billion to 149,491 billion pieces in fiscal 2017, the U.S. Postal Service reported. On the other hand, changes to the thicket of Postal Service, federal and local regulations that govern mailboxes are forcing real-estate developers to upsize these traditionally pedestrian spaces.

The solution? Turn the lowly mailroom into a luxury amenity that doubles as a place for residents to mingle.

The mailroom at Manhattan’s Sky rental building, where rows of mailboxes are topped with gleaming bronze panels, served as the setting for a recent Haute Living Magazine photo shoot with Kristaps Porziņģis, an NBA player and building resident.

At One Hudson Yards, a recently completed luxury rental building in Manhattan where one-bedrooms start at $5,095 a month, the mailroom includes strips of backlit Brazilian quartzite and a high-gloss stone floor. A sorting table is carved from chocolate-brown marble streaked with white. The space helps justify the rent, says tech-entrepreneur Larry Adams, 42, who moved into One Hudson Yards with his wife and two children in April. “I feel like I’m getting every dollar’s worth.”

At Manhattan’s 56 Leonard condominium, the mailroom walls are covered in lozenge-shaped black tiles. The gray-granite floor is intended to evoke the city sidewalk outside, says Mehmet Noyan of Herzog & de Meuron, the building’s design consultant. Transporting the large granite slabs into the mailroom required taking down a wall in the lobby, but Mr. Noyan noted that it lent the mailroom the right look. And at the Eugene, a project in New York City where monthly rents start at around $3,700, the mailroom has terrazzo floors and mailboxes in a bold red, bronze and gray pattern.

Esther Cuan moved into the Abaca rental building in San Francisco with her boyfriend in March. There, the 29-year-old software engineer collected her mail in the fancier of the building’s two mailrooms: a space with 20-foot-high ceilings, a polished concrete floor and walls decorated with wooden panels painted a vibrant indigo. Free-standing, blackened-steel cabinets hold the mailboxes themselves.

Above hangs the pièce de résistance: a custom-designed rope chandelier made from abaca, the fiber once used at the former factory site to make rope for nets and other uses. In a nod to the property’s history, “we wanted it to look like almost a jumble of fishing nets,” says Dani Gelfand of Studio O+A, which designed the space.

Ms. Cuan argues that a luxurious mailroom makes sense in the digital era, when the majority of postal mail tends to be unexciting, low-quality miscellany like catalogs and bills. While she’s always excited to get packages, and doesn’t mind using the automated package-retrieval system in the building’s garage to get them, regular mail “requires a beautiful space to be a nice experience,” she says. She and her boyfriend were disappointed when they decided to move to another apartment within the building, which required switching to the project’s less-enticing mailroom.

As they lavish more money on mailrooms, some developers are aiming to make them gathering spaces as well. At Jade Signature, the Florida luxury development that also boasts a private spa for residents and a yoga terrace, the mailroom was intentionally designed to help residents strike up conversations, says Ana Cristina Defortuna of developer Fortune International Group.

At 1N4th, a rental building on the waterfront in Brooklyn’s Williamsburg neighborhood, mailboxes in free-standing wooden structures are staggered throughout the lobby, a setup that “lends itself to people catching up,” says resident Maria Makres, 44, who works in advertising sales. And at the Old Town development in Columbus, Ga., which has single-family homes and apartments, the architecture and planning firm Historical Concepts created a mailroom with turquoise walls and a fire-engine red glass chandelier. A bench encourages “catching up with neighbors,” says Historical Concepts’ Andrew Cogar.

Perhaps it is inevitable that as mailrooms grow in size and cost, some builders would want to get rid of them entirely. The Moinian Group, developer of Sky, is considering skipping mailrooms in some of its coming condo projects, says executive Jeanne McGuire. Instead, she says, staff will hand-deliver the mail to each unit.

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Miami’s Flatiron

June 1, 2018
New York has its iconic Flatiron building, a triangle-shaped structure that was one of the city’s tallest buildings when it opened in 1902. Now, Miami’s version is rising.

Read the full feature.

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This 6,500-sq.-ft. luxury home in the sky has a 180-degree view

June 1, 2018
Sun worshippers, your home in the heavens has arrived.

It’s way up there, bathed in sunlight on the 53rd and 54th floors of a just-finished Miami-area highrise.

But while the multimillion-dollar price tag on the two-storey oceanfront condo might bring you back to earth, the sky’s the limit in fantasyland.

As you step out of your private elevator into the suitably named Sky Villa, the “ahhs” and “wows” are sure to follow, according to agent Sandra Chartouni, who’s witnessed many such reactions from clients.

“You have light pouring in, and with the 22-foot ceilings it’s breathtaking,” she says of the expansive living room where full-height windows offer 180-degree views.

The 57-storey building, called Jade Signature, is located in Sunny Isles Beach, a new luxury mecca on a barrier island on the Atlantic Coast, about 32 kilometres north of Miami Beach.

While the area abounds with tall towers, developer Fortune International Group was able to get approval for an additional 100 feet, putting the 659-foot Jade Signature head and shoulders above the rest, says Chartouni, the sales director.

Designed by renowned Swiss architecture firm Herzog & de Meuron, the glass and white concrete building is oriented to maximize sunlight and facilitate day and nighttime vistas of ocean, coastline and city. The highrise is home to three floors of amenities and 192 units, from $3.9-million suites to $32.9-million penthouses.

There are six Sky Villas, but this one in the upper north section was specially outfitted by the New York-based Meyer Davis design boutique. The ultra-luxe furnishings, fixtures and artwork are included in the purchase price.

With hourglass-shaped pillars supporting the extended roof, the unit’s living space expands outside to encompass 1,407 square feet of shaded terrace.

Inside, the location of the bedrooms off to the side allows light to flow in from both sides of the common rooms, Chartouni explains.

Sheer ivory drapes frame the views while lighting installations are strategically suspended to avoid distracting the eye.

A colour palette of soft greys, whites and blues echoes the lightness of the architecture and the tones of water and sky. Polished metal finishes bring a metropolitan edge and enhance the look of luxury.

Guest bedrooms have different themes: one is equestrian with a leather dresser, brass fixtures and horse-decorated Hermès fabric art while another has an astronomy theme with artwork depicting an eclipse and an area rug showing the constellations.

In the master bedroom, an opulent headboard of embossed leather and polished brass inlay becomes an eye-catching feature wall.

Outside, a giant kapok tree rises from inside the curl of the building’s circular front-entrance driveway.

With the building’s organic shape and underground, out-of-sight parking garage, Jade Signature is meant to look like it’s part of the tree’s roots growing out of the garden, says Chartouni.

“It’s amazing to see,” she says of the 60-foot, 38-year-old tree which was moved into place by crane and could grow to more than 200 feet. The kapok or ceiba tree, revered by ancient Mayans as a source of strength and resiliency, can live hundreds of years.

Developer Edgardo Defortuna, president and CEO of Fortune International Group, calls the tree a landmark in itself. One that also loves the sun.

THE NUMBERS

Price: $16.5 million (U.S.)

Size: 6,509 square feet

Bedrooms: 5

Bathrooms: 6 full, 1 half

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An Evening with Monica Puig

June 1, 2018
The Olympic Gold medalist talks about her life in tennis, healthy living in South Florida, Hurricane Maria relief – and a summer full of possibilities on the court.

Read the full article.

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Five-Star Living: Luxury Branded Residences Are Hot Properties To Own

May 22, 2018
Five-star living at luxury branded residences are hot properties to own for those who desire the best in everything from “starchitecture” to top interior design to five-star service to numerous luxury amenities.

Affluent buyers happily pay anywhere from $2.3 million and up at the Four Seasons Private Residences Fort Lauderdale to upwards of $21 million for a penthouse at The Ritz-Carlton Residences, Sunny Isles Beach in Miami. The luxury branded residence business model varies from condominiums as part of a luxury hotel to adjacent villas and homes.

Take that luxury living experience and marry it with top global hotel flags. Marquee names in the luxury branded residence market include Four Seasons, Montage International, The Ritz-Carlton, One&Only Resorts, Fairmont Hotels & Resorts, Rosewood Hotel Group and W Hotels.

Listen to Adam Ducker, managing director at RCLCO, a national real estate advisory firm. “The ultra-luxury residential condominium market is going strong. The hotel brand attached to this product is a guarantee for a high level of service and quality which adds value for these buyers,” Ducker said.

Attaining this level of wealth and having the time to enjoy it is a motivator. “The affluent customer who has raised their family and now has the time to access top quality properties in prime locations is willing to pay handsomely for it,” Ducker adds.

The Ritz-Carlton brand appealed to C. Hunter Milborne who recently purchased a two-bedroom plus den condominium at The Ritz-Carlton Residences, Sunny Isles Beach. Located between the Atlantic and the Intercoastal it is slated for completion in mid-2019. The 212 residences are priced from $2.5 million to $5.8 million with the penthouses starting at $21 million.

“We looked at a number of projects in South Florida and we loved the views and this location. Since it is managed by The Ritz-Carlton, we know we can expect that excellent level of ongoing service and amenities,” Milborne contends. As president & CEO of the Toronto-based Milborne Group, Milborne has over four decades experience marketing and selling new luxury condominium and resort projects in Canada.

According to Edgardo Defortuna, president, CEO and founder of Fortune International Group, developer of The Ritz-Carlton Residences, Sunny Isles Beach, sales there are brisk. “Our project is approximately 70% sold. This season we are seeing buyers from the Northeast, Canada, Mexico, Spain, Brazil, and Chile.” Defortuna points to an increase in domestic buyers due to people “looking to take advantage of tax reform by relocating to Florida, particularly from California and New York.”

Montage International founder, chairman, and CEO, Alan Fuerstman, has grown the Montage Hotel portfolio and real estate collection to five award-winning properties and residences in Beverly Hills, Deer Valley, Utah, Laguna Beach, Calif., Kapalua Bay on Maui and Palmetto Bluff in South Carolina.

Montage Los Cabos, the company’s sixth location, opens later this month in Mexico. Montage Residences Los Cabos offers two-and-three- bedroom residences starting at $2.7 million. Montage is also in development in Northern California’s wine country in Healdsburg, opening in two years.

Fuerstman is a long-time enthusiast of ultra-luxury branded residences. “I will not develop a Montage Hotel without a Montage Residence. It doesn’t work out financially to deliver that level of quality, service, and amenities by just developing a stand-alone hotel. You need the revenue from the luxury branded residences to make the numbers work,” Fuerstman explains. “We also don’t develop with a cookie-cutter approach. Each Montage property reflects the local environment and lifestyle.”

Montage’s individuality is what sold James Turner of Lakeland, Florida to Palmetto Bluff Residences in South Carolina’s Lowcountry, located beside the Montage Palmetto Bluff Resort. “We were the first to buy there in 2016. The architecture is very much like what you find in Charleston, which we love.” Turner, a retired Publix Super Market executive, owns a 3,100 square-foot single-family home on one acre. The design of the 35 furnished residences is “Lowcountry inspired.” Currently, one 3,095 square-foot residence is for sale through Montage, priced at $1,980,00.

The Four Seasons Private Residences Fort Lauderdale started construction last month. Priced from $2.3 million, there have been over $100 million in pre-sales with 40% of the units under contract, according to Louise Sunshine, strategic advisor for Fort Partners, the project’s developer.

The ocean-front 22-story tower offers 90 residences and 130 guest rooms, ranging from 780 square feet to over 6,000 square feet. Three two-story residences are designed with 20-foot ceilings to enjoy the view of the Atlantic in this ultra-luxury offering. Occupancy is expected for late 2020.

“We have exceeded $2,000 per square foot in some of the sales which represent two times the sales price ever recorded for a Fort Lauderdale luxury condominium with the exception of one other area property,” explains Sunshine. “At our groundbreaking, the mayor said that the Four Seasons is contributing to make Fort Lauderdale a global destination,” Sunshine recalls.

The Four Seasons is an internationally known ultra-luxury brand with the cache, amenities, and services to attract that high net worth individual who defines the luxury branded residence buyer.

Living the five-star life appeals to those who can easily afford the price tag.

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Luxe condo breaks ground in Coconut Grove, nearly 50 percent sold

May 16, 2018
Glasshaus in the Grove, Miami’s sexiest new boutique condominium, is getting ready for its close up.

Located in Bayshore Village near Millionaire’s Row, the boutique project is walking distance from marinas, parks, shops, and restaurants.

Glasshaus in the Grove, is a ‘livable residence’ that mixes outdoor and green space that evokes the tropics.

Slated for a 2019 completion date, the 23-unit luxe residency has sold nearly 50 percent of its one-, two-, and three-bedroom condominiums that cost $595,000 and up.

Each unit ranges in size between 1,080 and 2,380 square feet and includes floor-to-ceiling windows and a choice of porcelain, wood, or tile floors in the home’s interior.

Residents can see expansive views of Miami’s skyline from the terrace.

Designed by Varabyeu Partners and developed by Element Development and GD8, the tower features a lobby accented in burnished steel, glass, and polished wood.

Glasshaus in the Grove offers outdoor amenities such as a Zen garden, rooftop pool deck, cabanas, lounge, and summer kitchen.

“I am very proud and excited that we are breaking ground on schedule,” said Element Development CEO Javier Llunch. “Glasshaus in the Grove is the first of many projects that we have planned along 27th Avenue – a bridge for the North and Center Grove neighborhoods.”

Fortune International Group led by founder Edgardo Defortuna, has a portfolio that includes residential properties such as Jade Signature (which includes Tata Harper Spa), The Ritz-Carlton Sunny Isles, Auberge Beach Residences and Spa Fort Lauderdale, and Hyde Resort & Residences Hollywood.

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Panel Event with The Ritz-Carlton Residences, Sunny Isles Beach

May 15, 2018
Local leaders, luminaries and real estate professionals recently converged at The Ritz-Carlton Residences, Sunny Isles Beach sales gallery for an in-depth discussion about the state of the Sunny Isles Beach real estate market.

Fortune International Group and Château Group, developers of The Residences, hosted the panel in tandem with real estate news outlet PROFILEmiami, spotlighting important insights about the City and its continued growth.

Demetri Demascus, editor of PROFILEmiami, moderated the May 2 symposium, which included participation by Edgardo Defortuna, President and CEO of Fortune International Group; City of Sunny Isles Beach Vice Mayor Dana Goldman; Jorge L. Guerra Jr., President of the Miami Association of Realtors; and Boris Kozolchyk, Colliers International Executive Vice President and a local expert on growth and retail in Sunny Isles Beach.

“The events we host in our sales gallery give us the opportunity to be a resource for real estate professionals and homebuyers alike, offering important information about the local market as well as trends in development,” said Edgardo Defortuna.

“Having a deeper understanding of what is contributing to South Florida’s exponential growth – and the Sunny Isles market, specifically – is key for brokers and their buyers and important for the market as a whole,” said Manuel Grosskopf, CEO of Château Group.

Attendees of the breakfast event were locked in discussion about the strong retail and development growth that has taken hold in Sunny Isles Beach, including an analysis of some of the major factors that have contributed to the area’s recent construction boom.

“I am delighted that I was able to participate in this special panel, which generated important feedback about the evolution of Sunny Isles Beach and what’s on the horizon for this vibrant market,” added Vice Mayor Dana Goldman. “The event was filled with important input, and the team behind The Ritz-Carlton Residences, Sunny Isles Beach created an unparalleled, elegant experience for myself as well as their guests.”

Designed by Arquitectonica with interiors by Florentine architect Michele Bönan, The Residences — comprised of 212 luxurious oceanfront condos — will have a private club level on the 33 rd floor, as well as a beach restaurant, pool deck, fitness center, kids club and spa, among other top-tier amenities and services. Residences start at $2.6 million with penthouses offered upwards of $25 million. For additional information, call 305.503.5811 or visit http://www.theresidencessunnyislesbeach.com.

About the Project Developers

Fortune International Group

The name Fortune International Group is synonymous with excellence and an unwavering commitment to quality and customer service in the world of luxury real estate. Visionary founder Edgardo Defortuna has set new industry standards ever since the company’s founding in 1983. Fortune is a recognized leader in both the development and sales and marketing of South Florida luxury real estate with a portfolio that includes residential, mixed-use, condo hotel and office-condo projects. The company’s developments include Jade Signature, Jade Residences at Brickell Bay, 1200 Brickell, Artech, Le Meridian Sunny Isles Beach, Jade Beach, Jade Ocean, Auberge Beach Residences and Spa Fort Lauderdale and Hyde Resort & Residences Hollywood. Florentine architect and interior designer of The Ritz-Carlton Residences, Sunny Isles Beach, Michele Bönan is often portrayed as the “Architetto eclecttico” — owing to his extraordinary sense of style and fastidious yet sensitive attention to detail. He has created memorable habitations across the globe. Possessing an exceptional ability to preserve historical buildings whilst integrating such into coveted contemporary designs, Bönan entwines all the glories of the past with the dynamism of the future.

The Château Group

The Château Group, founded under the leadership of Sergio and Manuel Grosskopf, has more than 35 years of experience in the development of real estate projects in South America and the United States. Château has participated in several major real estate endeavors over the last several years, Château introduced the concept of Mall in Argentina with the development of Alto Palermo and Alto Avellaneda Malls in Buenos Aires and the entry of Wal-mart and Zara to the Argentinian market. In the residential field, Château Group developed of 1.6 million square feet distributed in the two most emblematic towers in Buenos Aires, Argentina: Château Libertador and Château Puerto Madero. In the United States, Château Group developed Château Beach Residences, a luxury high-rise condominium in Sunny Isles and finished the construction of FENDI Château Residences in Surfside, the first real estate development branded by FENDI worldwide. Other projects in the pipeline include 600 and 700 Biscayne (Miami, FL) and a mixed-use development in Hallandale Beach. In addition, Château Group has positioned itself as a high-end residential market leader in the world-renowned city of Punta del Este, Uruguay through the development of the new FENDI Château Residences, Le Jardin Residences, Beverly Tower, Coral Tower and Millenium Tower.

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Sunny Isles Beach, un paraíso que crece

May 10, 2018
Sunny Isles Beach, una de las zonas más exclusivas de Miami, es un destino cada vez más elegido por personas de Latinoamérica (principalmente México, Argentina, Colombia y Brasil) para invertir o adquirir un segundo hogar.

Lo que sucede con Sunny Isles Beach es que está rodeado de atractivos, no sólo por arenas blancas, sino también por diferentes comercios y zonas de esparcimiento. A tan sólo 5 minutos, se encuentra el mall Bal-Harbour, uno de los más visitados de Florida.

The Ritz-Carlton Residences Sunny Isles es otro de los edificios que ya, antes de ser inaugurado, se ha transformado en un emblema de la zona. Con su exótico diseño tipo crucero, este proyecto promete ser un punto referencial de la ciudad por ser poseedor de residencias de lo más lujosas: los penthouse tienen piscina propia en cada uno de los balcones, que miran hacia al mar.

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Tata Harper spa opens in Miami condo

May 9, 2018
Tata Harper, a green-friendly skincare and wellness line, debuted a full service spa in the Jade Signature condo tower in Miami.

Tata Harper’s skincare line has a celebrity fan base that includes Gwyneth Paltrow, Brooke Shields, Emma Watson, and Anne Hathaway.

Located in Sunny Isles Beach on “Billionaire’s Beach,” the Fortune International Group property opened in March.

Jade Signature still has available units—specifically, “The Collection,”two-story sky villas and penthouse that start at $14.3 million. The smart technology-equipped sky villas offer large open terraces, private elevators, and a PYR-designed bathroom cabinetry.

Resort-style features are hallmarks of the Jade Signature, including a stunning beachfront deck with a swimming pool, secluded cabanas, a heated spa, beach access, and a 25-meter lap pool.

Like the Jade Signature, the Tata Harper Spa’s most intricate details focus on luxury living.

“We created a space that feels coastal casual yet chic with our special Tata Harper touch in every detail,” Tata Harper, the line’s namesake and spa owner, says. The space and the treatments available at Jade Signature help bring the all-natural non-toxic luxury experience to life for this exclusive Miami community.”

Parisian firm PYR and Pierre-Yves Rochon designed the Tata Harper Spa’s interior space, while landscaping was done by Miami-based architectural firm Raymond Jungles Inc.

The spa is marked by natural finishes, vibrant wood, and green accents. It includes a glittering hand-cut koi mosaic designed by PYR that’s reserved for residents and their guests.

The Herzog & de Meuron-created residential tower offers spa services that use Harper’s wellness products such as body treatments with healing jade roller massages and jade stone placements.

The facility also has a sauna, steam room, hammam, relaxation zone, water therapy terrace, and a manicure and pedicure room, and pop-up shop. The pop-up shop carries antiaging beauty products and paraben-free makeup, all of which are sold in Tata Harper’s signature green and gold packaging and green Mason glass jars.

Tata Harper Spa caters to clients who love ‘green’ goods with their services. Spa menu items include the vitamin-rich Jade Signature facial, the revitalizing Traveler’s Recovery Facial, the aptly titled Sun Relief Facial, and Liquid Gold Organic Body Massage that features organic herbs.

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Este es el barrio más rico de EE UU

May 5, 2018

Fisher Island, una isla privada pegada a Miami Beach a la que solo se puede acceder en ferri, es el código postal más rico del país más rico del mundo, EE UU. El ingreso medio de sus 1.300 residentes ronda los 2,5 millones de dólares anuales, según un análisis de datos fiscales a nivel nacional realizado por la publicación financiera Bloomberg. Los acaudalados vecinos de Fisher Island, un enclave paradisíaco con playa propia de arena blanca traída de las Bahamas, ganan de media un millón de dólares más que los del segundo código postal más pudiente, la ciudad de Atherton, epicentro de Silicon Valley y hogar de grandes emporios tecnológicos como Facebook.

“Esta isla es ya una marca que significa máximo lujo, como un yate o un reloj. Es el Patek Philippe de los condominios. En cualquier lugar de nivel del mundo dices que vives en Fisher Island y no tienes que decir ni una palabra más”, dice la agente inmobiliaria Dora Puig en la cocina de “puro mueble italiano” que muestra en un apartamento a la venta del último edificio construido, el Palazzo Del Sol. Un piso de 700 metros cuadrados con vistas al océano y diseño minimalista –“con toque de vida playera”, matiza– cuyo precio de partida es de 19 millones de dólares. Un ático de este mismo inmueble acaba de ser vendido por 32 millones, lo máximo pagado en la isla –aunque a buen seguro será superado en 2019 por otro del Palazzo Della Luna, condominio en desarrollo, por el que pedirán 40–. El récord pagado hasta hoy en Miami es de 60 millones por un ático dúplex.

–¿Quién ha comprado el de 32?

–Un ruso –responde Puig, reservada.

En Fisher Island la identidad de sus moradores se guarda con celo. Uno de los atractivos que encuentran quienes compran en este edén es su alta privacidad y su seguridad. “No necesitan salir para nada”, explica en su despacho Bernard Lackner, director del club social de la isla. “Es una ciudad en sí misma, con su escuela para los niños, su supermercado, su clínica de salud, su banco, su oficina postal, su tintorería, campo de golf, 18 pistas de tenis, dos marinas, un recinto de ocio para los perros de los residentes y hasta un pequeño observatorio astronómico”, enumera. A su vera dormita sobre la alfombra Lily, un perro anciano de raza King Charles Spaniel.

“No hay nada igual”, dice sobre Fisher Island el promotor inmobiliario Edgardo Defortuna, CEO de Fortune International Group. “Hay lugares de tanta calidad, como Porto Cervo en Italia, pero allí se mezcla gente que vive allí con otra que no. Fisher Island es más exclusivo: solo hay residentes o miembros del club; todos compradores muy elitistas y un poco aislados de la sociedad. Esta uniformidad es la característica clave de la isla”.

Fisher Island es un extremo del polo privilegiado de la inequidad social característica de Miami, en 2017 la segunda zona metropolitana de EE UU con mayores niveles de pobreza. A diez minutos en coche de la isla, con tráfico ligero, se encuentra, por ejemplo, el histórico barrio afroamericano de Overtown, donde muchas familias viven con lo mínimo y abundan la droga y la violencia.

“Mi isla por tu yate”

A principios del siglo XX el terreno de Fisher Island era una punta de la silvestre península de Miami Beach, pero la construcción de un canal de acceso al puerto la separó, quedando como una isla de ocho hectáreas. Su segundo propietario fue el primer afroamericano millonario de Miami, Dana A. Dorsey, que se la vendió en 1919 al empresario que le legaría su apellido al lugar, Carl Fisher, un loco de los coches de carreras y visionario de los bienes raíces que creó Miami Beach. Fisher amplió su superficie y unos años más tarde le vendió su parte a William Kissam Vanderbilt II –también apasionado del automovilismo y miembro de una de las familias más ricas de EE UU– a cambio de su barco de recreo de 75 metros de eslora: “Mi isla por tu yate”, le dijo según la leyenda.

Luego Vanderbilt se hizo con más hectáreas y comenzó la construcción de una mansión de estilo mediterráneo que terminó en los cuarenta. Las siguientes cuatro décadas Fisher Island pasó por varias manos, entre otras las de Bebe Rebozo, un íntimo del presidente Richard Nixon –quien tenía residencia de descanso en Miami– pero no fue hasta los ochenta que se dio inició a su desarrollo inmobiliario, se abrió el club –que incluye la mansión– y se siguieron extendiendo sus dimensiones, hasta las 87 hectáreas actuales.

No es una isla de grandes casonas sino de edificios medianos con apartamentos que superan de media los 400 metros cuadrados y en el que lo menos caro que se puede adqurir es un estudio, con un cuarto, por un millón de dólares, según Puig. Sus habitantes son gente del mundo de los negocios, del espectáculo y de los deportes que la usan en general como residencia de ocio unos meses al año. En Fisher Island conviven vecinos de 37 nacionalidades, más de la mitad estadounidenses y en segundo y tercer lugar brasileños (10%) y rusos (7%). Los brasileños fueron compradores voraces entre 2008 y 2010, con su moneda, el real, fuerte en medio del crashglobal. Los rusos comenzaron a llegar en los noventa, tras la caída de la Unión Soviética. Entre sus residente conocidos han figurado Oprah Winfrey y Boris Becker y hoy es público que tienen casa la súpermodelo Karolina Kurkova y la estrella del tenis Caroline Wozniacki.

El ferri tarda unos siete minutos en llevar o traer subidos a sus coches a los vecinos de esta isla impulsada en su origen por dos entusiastas de los bólidos y en la que hoy el límite de velocidad es de 30 kilómetros por hora. El mayor problema de seguridad en Fisher Island, bromea Lackner, puede ser “un choque entre dos carritos de golf”.

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Luxury Taking the Lead in Ft. Lauderdale

May 03, 2018
The Fort Lauderdale condo market has gained momentum in the past years, as companies looking to branch out in areas other than Miami have discovered a prime marketplace for luxury development in the city. The Related Group, Fortune International Group and The Fairwinds Group have teamed up to develop the 171-unit Auberge Beach Residences and Spa, a two-tower waterfront property slated for delivery this summer.

Edgardo Defortuna, president & CEO of Fortune International Group, Patrick Campbell, vice president of The Related Group, and Andy Mitchell, president & CEO of The Fairwinds Group, spoke to Multi-Housing News about their luxury project, located on the site of the former Ireland’s Inn, as well as the Fort Lauderdale condo market and current resident requirements.

What is the main difference between the Miami and the Fort Lauderdale luxury condo markets?

Defortuna: The major difference between the Miami and Fort Lauderdale markets is the buyer profile. Miami deals more with the foreign client that is purchasing as an investment or second home. The Fort Lauderdale client is a mostly domestic purchaser with primary market buyers from New York, Massachusetts, Michigan, Chicago and Virginia. When comparing the two markets, it’s clear that Fort Lauderdale buyers can get the same lifestyle in respect to direct ocean views, amenities, finishes and services as in Miami, at almost half the price.

What are some of the key factors contributing to the rising condo market in Fort Lauderdale?

Defortuna: In assessing the Fort Lauderdale marketplace, we spent significant time talking with local residents to determine the missing links in providing product for the luxury market. We took into consideration all projects being built in a 50-mile radius. These focus groups helped us understand what was needed, especially when it came to designing requirements and amenities offered.

We also addressed the different buyers accordingly. From the empty nester who is scaling down to the “snowbirds” or the single buyer, all residents have unique characteristics and residential needs to be met.

Fort Lauderdale has evolved over the past five years with the opening of many new restaurants and the revitalization of the Las Olas corridor with new leading design buildings like Icon (Las Olas Apartments). Important factors also impacting the city’s growth and popularity include the expansion of Fort Lauderdale/Hollywood International Airport, the expansion of Port Everglades and new transportation methods such as the Brightline fast speed train that now links Palm Beach and Miami, precluding the need to spend long hours on congested freeways.

Which is the main demographic drawn to Auberge Beach Residences and Spa?

Campbell: The main draw is the lifestyle component for a good percentage of the Auberge Beach buyers. The vast majority of buyers could live anywhere and are very successful professionally. They are looking forward to the amenities and casual sophistication of Auberge. They are familiar with the brand, the Fort Lauderdale area and see this as a natural and authentic next step.

Buyers want to finish and live the second half of their lives in a nurturing environment with neighbors who have similar interests. From car collections to golf adventures, to health and wellness, to community connectivity, Auberge fits the bill in the fast-moving world. Buyers see this as a way to create memories with loved ones and make new friends in a space designed to enhance the residential component of their lifestyle.

What are the reasons behind the record-breaking sales at Auberge Beach Residences and Spa?

Campbell: Auberge communicates a unique lifestyle that offers resort-style amenities without the transient guest aspect in a natural and authentic way that fits a real need in the Fort Lauderdale marketplace. This is a thoughtfully designed building that caters to those interested in downsizing their residence size while upgrading their quality of life.

Homes at Auberge are unique in both appearance and functionality. Take, for example, the plunge pools located in the North Tower on expansive decks that in some cases exceed 2,600 square feet of outside living space or the curvilinear design that does not shade the beach, maximizing sunshine. The property also sets the tone of luxury from the moment guests and residents arrive with the infusion of world-class art, highlighted by the Botero, a waterfall and a glass porte-cochère.

Can you tell us more about the distinct design of the project and what led to this type of structure?

Mitchell: We dedicated a lot of time to achieve the design found in this project. Hundreds of meetings were held with the community and over eight different concepts were considered before we made the final decision on how to bring the vision to life. We worked closely with architectural firm Nichols, Brosch, Wurst, Wolfe & Associates to create a residential destination with a sense of place unique to the Fort Lauderdale community.

For interiors, we selected design firm Meyer Davis. They envisioned a space that perfectly fits the natural landscape of Fort Lauderdale. Overall, the Auberge family and Ireland Inn’s history were perfectly matched to create this unique location that has a rich history and delivers on our objectives and buyer expectations.

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Upping the Ante

May 2018
With its catchy name and behind-the-scenes construction talent, Brickell Flatiron has managed to stand out in Miami’s seen-it-all luxury pre-construction market. Now, developer Ugo Colombo seems intent on outdoing competitors with the release of the tower’s Penthouse Collection, a number of one-floor residences as well as two-and three-story duplexes that will occupy levels 50 through 64 of the massive 549-unit complex.

To read the full feature, click here.

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Skyline Icon

April 30, 2018
Una — a monumental condominium tower designed by Adrian Smith + Gordon Gill Architecture, the acclaimed architects behind Jeddah Tower in Saudi Arabia — is set to soar over Brickell Avenue’s southernmost point, the city’s birthplace of modern high-rise living.

Following up on the success of the groundbreaking of Mission Baia last year, Miami-based development firm OKO Group is set to bring their second masterpiece to Miami: Una. At 47-stories, the super-tall tower will be a marvel in and of itself, with a sculptured façade featuring clear modern lines and ribbon-like curves inspired by the sinuous teak decking on the iconic Riva yacht. The expansive terraces will take full advantage of the rare waterfront site, the first available on the market in decades, offering 180-degree sweeping vistas of Key Biscayne to the East, Downtown and Miami Beach to the North, Coconut Grove to the South, and views of Coral Gables and beyond to the West. “The tower will offer striking style, intimacy, exclusivity and a superior range of first-class amenities that celebrates the joie de vivre  of Miami,” says Vladislav Doronin, Chairman & CEO of OKO Group. “Destined to become the new landmark of the Brickell skyline, Una, thanks to its internationally-renowned design team, will further define Miami as one of the world’s leading destinations for elegant living and sophisticated design.”; UnaResidences.com.

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Fashion Houses Leave Their Mark On Luxury Real Estate

April 30, 2018
Three years ago, Rani Zantout, a venture capitalist in Miami, realized that his 1,900-square-foot apartment in Trump Towers in Sunny Isles Beach was getting too cramped for him, his wife, and two kids. He went on the hunt for a larger place, and found something with a little extra flair—a four-bedroom, five-bathroom unit in the upcoming Residences by Armani/Casa, a luxury beachfront highrise opening in June 2019.

Mr. Zantout, 37,is a fan of the brand’s V-neck T-shirts and underwear, and was impressed during his stay at the Armani Hotel in Dubai. To him, the space he was getting, paired with the brand’s reputation for quality, was worth the $3.05 million price tag. “It’s something that is going to be stamped by Mr. Armani,” he said. “It’s a no brainer.”

Armani’s new building, which is being developed by Dezer Development in Miami, will be its first real estate project in the U.S., and part of a growing number of developments popping up around the world with interiors by major fashion brands.

Partnerships like these have become more common because both sides have something to gain, said Thomai Serdari, a luxury marketing strategist and professor at New York University’s Stern School of Business. The developments get publicity, while the fashion houses get to expand their reach to customers. “It’s beneficial to both the developer and brands,” she said.

It has been a successful strategy for Dezer, according to Sebastian Tettamanti, the company’s senior vice president of sales and marketing. Having already developed Miami’s Trump Towers, Porsche Design Tower and wrapping up Armani/Casa by next year, Mr. Tettamanti said that Dezer is already in talks with other luxury brands for new real estate projects, details of which he declined to disclose.

“For us, it is easier to partner with a luxury brand than to try to create a brand from nothing,” he said.

In terms of design, the Armani branding is more apparent in the building’s common areas—such as the private lounge, cigar room and movie theater—than in the residences themselves. While the kitchens and bathrooms will be finished with Armani-designed cabinetry and details, the rest of the apartment will be left to the buyers to decide. “You have to bring in your decorator to finish the unit,” Mr. Tettamanti said.

Mr. Zantout said he is happy with the lack of overt branding within the unit. “It’s subtle,” he said.

DAMAC Properties, a Dubai-based developer, has also been keen on these partnerships. In 2017, it opened a 28-floor residential tower in Beirut featuring Versace interiors. Now, they are preparing two new fashion-forward developments in London and Dubai.

“We strive to create associations with renowned luxury brands, including fashion houses, that appeal to certain audiences,” DAMAC Senior Vice President Niall McLoughlin said in an email to Mansion Global. “These are bespoke products, so it’s not every day one has the opportunity to own a branded home to live in or as an investment.”

At the 50-story AYKON London One, apartments feature a marble V in the entryway’s floor, as well as Versace branding on some of the floorboards and the bathroom’s backsplash, according to Christian de Meillac,, a listing agent with Harrods Estates who is responsible for a number of the building’s apartments. Units range from £747,000 (US$1.06 million) for a studio, to £15.49 million (US$22 million) for a 15-bedroom apartment occupying an entire floor, listings show. The penthouses have not yet been released to market.

In Dubai, the three-bedroom, four-bathroom Just Cavalli villas scheduled to open in 2020 start at a relative bargain of AED1.3 million (US$354,000). Located within the planned Akoya Oxygen community outside of the city center, the Just Cavalli villas will utilize Roberto Cavalli’s signature animal prints and earthy hues in both the interior fabrics and wallcoverings as well as the exterior stonework, according to Mr. McLoughlin.

By teaming up with developers, fashion companies find an opportunity to expand beyond their own volatile industry, according to Ms. Serdari. “All fashion companies have exactly the same problem—it is hard to keep up as culture changes,” she said. “Fashion brands need to find a way to get out of that predicament.”

Meanwhile, Missoni is getting in on the action with their first branded building, the 57-story Missoni Baia under development by OKO Group in Miami’s Edgewater neighborhood.

Scheduled to open by the end of 2020, Baia will feature amenities including a pet spa, a gym with views of the bay and 24-hour concierge, according to press materials on the new building. The interiors will be designed by Paris Forino Design under the direction of Missoni, and will feature the Italian fashion house’s distinctive color palette.

Even with this spate of designer buildings, though, you will not likely see a Chanel apartment complex anytime soon. French fashion houses, according to Ms. Serdari, are beholden to the tradition of haute couture, which is focused firmly on fashion.

On the other hand, Italian fashion houses, often lead by a single visionary à la Giorgio Armani or Donatella Versace, are more broadly concerned with overall aesthetics, Ms. Serdari said, allowing these brands to be more willing to apply their design to other lifestyle sectors.

The buyers for designer residences are definitely out there, according to Ms. Serdari. “To this younger generation that has the money to spend, they only spend on very expensive brands,” she said. “Why not take that concept and expand it to all the aspects of their lives?”

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AS+GG Architecture to Design Yacht-Inspired Tower in Miami

April 30, 2018
Adrian Smith + Gordon Gill Architecture (AS+GG) have been appointed as designers for the “Una” tower in Miami, Florida, a 47-story scheme set to contain 135 condominiums. Inspired by the iconic Riva yacht, the scheme is defined by a sculptured façade of “clear modern lines and ribbon-like curves.” AS+GG’s most notable achievement to date has been the design of the Jeddah Tower in Saudi Arabia, set to be the world’s tallest building.

“Una” is to be constructed along Brickell Avenue in Miami, the street which introduced Miami to high-rise living in the 1970s. The 135 residences will range from two to five bedrooms, taking advantage of bay views through 10-foot-deep balconies and floor-to-ceiling glass doors. Each residence will also contain a private elevator entry, a chef’s kitchen, and 11-feet-high ceilings. Accompanying these private amenities, residents of the Una tower will be treated to communal fitness centers, three pools, a private marina, and a spa.

“Adhering to our philosophy that form follows performance, we saw the unique opportunity with Una to give the building a little bit of attitude in its design. It stands contrapposto, where one side of the building is holding its full weight and the other side is relaxed, looking at you. I like that attitude, it’s elegant, it’s very comfortable and it’s sophisticated.”
-Gordon Gill FAIA, Co-Design Partner, AS+GG

Emphasizing the connection between inside and outside, AS+GG were also involved in the building’s interior design. Inspired once again by the Riva yacht, the interior is adorned with natural leather, wood, and stone, warm colors offering a counterpoint to the cool tones of stainless steel. Award-winning landscape firm Enzo Enea will design a private bayside garden to complement the scheme and enhance its urban park setting.

“We think of architecture and interior design as one seamless movement. Both the exterior and the interior responds to the ideas of luxury living, fun lifestyle, casual environment, and relaxing atmosphere.”
-Adrian Smith FAIA, Co-Design Partner, AS+GG

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Ancient Hammams Are The New Residential Amenity

April 28, 2018
In the great race to offer the newest and best amenities in residential buildings, an ancient feature has recently gained popularly: hammams. A traditional hammam is a turkish bath. But more than that, it is a four-stage relaxation ritual involving different types of water and air at varying temperatures. The process starts with relaxation in a sauna with hot, dry air. Then it moves into a hotter room with steam combined with a cold water plunge pool. The third step is exfoliation by an attendant with an ancient cleansing soap and rough mitt called a kessa. The final step is retiring to a cool relaxation room.

Raizy Haas, senior vice president in charge of development at Extell Development, explains, “In my travels to Istanbul, I personally experienced the hammam tradition. It was overwhelming and amazing. I was always hoping we could incorporate into one of our projects and now we’ve done it.”

Haas says they “did their homework to better understand the origin of hammams and make sure we did it right. Not only is it a bathing ritual but it plays a significant social and cultural role in middle eastern countries.” Haas was determined to recreate that in Extell’s Lower East Side amenity-rich building One Manhattan Square.

Haute Residential has highlighted some of the best hammams in NYC and Miami’s residential towers.

One Manhattan Square

One Manhattan Square’s hammam took inspiration from the 14th Century Ottoman Empire hammams and “interpreted that relaxation and ritual in modern way.” Haas explains, “We designed our hammam to meet busy lifestyle of our residents so you can do one or any combination of the four phases of the ritual.” There is an infrared sauna, a steam room, a cold plunge pool and a tranquility garden to end your relaxation in. If you want a traditional scrub down massage, you can order that service through the building.

Haas also explained their design reinterpreted the traditional hammams with modern mood lighting, heated benches (instead of cold, stone slabs) and private recessed stone chambers.

“When we do something, we raise the bar.”

Cast Iron House

Bridgestone Capital Assets CEO Jourdan Krauss, the developer of the Cast Iron House, says the Pritzker-Prize winning, traditional Japanese architect Shigeru Ban perfectly infused a contemporary aesthetic into their architecturally significant, historic building. With only 13 residents, the building does not have a lot of amenities but Krauss explains, “I wanted to build a hydrotherapy spa in this small boutique residence that would be a unique experience solely for the residents. We were not looking to compete with a massive spa experience or large gym.”

Krauss goes on to say, “New York City is a hectic, maddening city that moves at lightning speed. I wanted to create an experience for the residents that when they walk into the space, it is instant relaxation.  Residents can get out of their busy lives, out of the hustle and bustle of New York and go relax in a small environment they feel is very private. The hammam can fit 10-12 people but really think it will be an experience for one person or a couple to relax in.”

Krauss says their hammam was designed in the basement vault of the building, which is beautifully illuminated by the light that filters through the sidewalk’s transparent glass from two storeys, 30 feet above. The hammam includes three different water experiences, a steam room and a sauna, a plunge pool, shower, and a special waterfall shower. “This whole combination of something special and very aesthetically very unique down in the vaults of the castle.”

Jade Signature

The exquisite hamman at Jade Signature, developed by Fortune International Group and created by Pritzker Prize-winning architecture firm Herzog & de Meuron, blends with a Tata Harper Spa, the first ever in Florida, to deliver all-organic wellness.

“Jade Signature is such a natural partner for us to open our very first Tata Harper Spa in Florida,” said Harper in a press statement. “We created a space that feels coastal casual yet chic with our special Tata Harper touch in every detail. We believe our clients should never have to compromise between health and results, natural and luxurious, or beauty and intelligence.”

Rendered in vibrant wood and green accents and reserved for residents and guests, the spa carries Harper’s hallmark line of products and treatments, including a range of rejuvenating facials and a liquid gold organic body massage, which elevate the hammam experience. A sauna, a steam room, a water therapy terrace, a relaxation zone and a manicure and pedicure lounge complete the private, state-of-the-art relaxation features at Jade Signature.

49 Chambers

The Moroccan developers of 49 Chambers created a hammam as a core component of the building. Cast in honed white Ariel marble with a lustrous coved ceiling, 49 Chambers’ hammam offers a relaxing escape. This contemporary reinterpretation of ancient bathing rituals can be enjoyed with the adjacent steam room and sauna. The amenity is directly connected to the building’s pool.

Julie Dannenberg from Hundred Stories PR said, “People are looking for different things than they were looking for five years ago. Being able to come home to place where you can put down your phone and computer and enter into an amenity space that will leave you completely relaxed and rejuvenated was very important to the developers as it’s in keeping with their tradition.”

111 Murray

Wellness amenities are a priority at 111 Murray Street, as they highlight their connection with nature, providing an immersive, restorative experience. The hammam is the centerpiece of the spa area with heated, sculpted marble beds and carved sinks, bringing a modern touch to the traditional Turkish bath. There are also treatment rooms, saunas and a hair salon enhance the whole experience.

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Fort Lauderdale Is Booming: Here’s Why

April 28, 2018
Fort Lauderdale is booming with development. It’s become a city of choice for savvy investors, both commercial and residential. Once known as the mecca for spring break and teenage beach movies — think Where The Boys Are with Connie Frances and Girl Happy starring Elvis Presley — Fort Lauderdale has grown up.

“Historically, Fort Lauderdale had always been a secondary market to Miami. Then, when prices kept rising in Miami, developers started looking for cheaper dirt and came here. We have a relaxed coastal environment, beautiful beachfront and a strong commerce center with 7.5 million of class A office space in our downtown,” notes Jenni Morejon, executive director of Fort Lauderdale Downtown Development Authority (DDA)

“We have significant luxury development both in residential and hospitality underway. The residential component has a high level of amenities, service and finishes in beautiful ocean front locations. On the hospitality side, the Four Seasons is building a beautiful property, and there was a $150 million renovation at the W Fort Lauderdale,” Morejon adds.

To satisfy the increasing residential base, Morejon points to over 1,000 restaurant seats coming online over the next several months on Las Olas, Fort Lauderdale’s dining, shopping and entertainment destination for tourists and residents alike. “Las Olas (Spanish for ‘waves’) Boulevard is our crown jewel, connecting the beach and downtown core,” she says.

The privately owned Brightline, a train with diesel-electric engines, inaugurated service between Fort Lauderdale and West Palm Beach in January. Morejon sees this as another game changer for Fort Lauderdale when the Brightline extends from Miami to West Palm Beach with a stop in Fort Lauderdale.

Finding cheaper dirt in Fort Lauderdale is The Related Group, a major South Florida developer. The Related Group has developed luxury condominiums since 1979. Today the company is betting on Fort Lauderdale’s rapidly growing luxury branded residential condominium market.

The Related Group is developing the two-tower Auberge Beach Residences & Spa, a luxury branded beachfront condominium part of the Auberge Resort Collection. Fronting the Atlantic, amenities include signature Auberge dining, World-Class Spa by Auberge, private elevators, wine room, cigar lounge and Fitness Center with views of the Atlantic. Currently Auberge’s North Tower is over 95% sold, and 75% of the South Tower is also sold. According to The Related Group, Auberge Beach Residences & Spa set a Fort Lauderdale sales record in 2017 for the highest condo sale at $9.5 million. Prices range from $1.5 million to $9.9 million.

“This is a signature property, and there is nothing like it right on the ocean sitting on five contiguous acres. Our sales show demand is there for the project and product. We didn’t know what to expect and went with a smaller tower first,” explains Patrick Campbell, vice president at The Related Group.

The oceanfront W Residences Fort Lauderdale are also selling briskly. The 171 residences, with prices starting in the $900,000s, are proving to be the right product for the market. With over 100 units sold to date, buyers are excited. Residents at the W will have access to all W Fort Lauderdale hotel amenities with resident signing privileges for convenience. In addition, they receive dining, room and spa discounts at W Fort Lauderdale. Owners also have the option to place their home in the W’s rental pool.

Who is buying in Fort Lauderdale? The Fort Lauderdale buyer is very different than in Miami.  “About 75% of our buyers either have a tie to the area versus Miami, where many buyers are investors or from South America,” Campbell observes.

Eric Johnston of New Jersey chose the W Residences Fort Lauderdale for his fourth home, buying a two-bedroom, two-bath unit in December. “Miami did not have what I wanted,” he says. “The location to the airport, the weather and the W product is what attracted me. I actually would have bought a larger unit if they had one.”

Craig Studnicky, principal of International Sales Group (ISG), has over 25 years of experience in the South Florida residential market. “Fort Lauderdale has always been compared to Miami Beach, but now its value in terms of price per square foot is at an all-time high,” he says. “From 1990 to 2010, the annual difference in price per square footage between these two destinations was roughly 25%. In May 2016, this difference jumped to 261% due to the slew of new inventory. This means that a buyer can get the same ocean views, amenities, finishes and services in Fort Lauderdale but at almost half the price.”

Fort Lauderdale’s retail market is thriving with over 2.6 million square feet of commercial real estate completed, under construction or approved since 2012.

According to Colliers International Fort Lauderdale Market Pulse Q1 2018|Overview, Fort Lauderdale jumped to sixth place in the Top 10 U.S. Markets To Watch. This is the first time Fort Lauderdale even made it into the Top 10. Retail rents in downtown Fort Lauderdale have a five-year growth prediction of 48% compared with 42% in Miami-Dade. Since 2013, Fort Lauderdale’s downtown retail rents have increased 51% to $35.75 per square foot compared with a 14% increase throughout Broward County. (Fort Lauderdale is in Broward County.)

With the area a vacation destination and national cruise hub, total visitors through Fort Lauderdale-Hollywood International Airport rose 11.3% from 2016 to 2017, to 32.5 million. In addition, JetBlue, Southwest and Emirates have launched new routes within the past year to and from Fort Lauderdale, expanding the potential visitor market, an added boost to area residents for business and leisure travel.

William Hardin, PhD, professor of finance and real estate and director of the Hollo School of Real Estate at Florida International University in Miami, explains the market dynamics:  “Fort Lauderdale offers relative value compared to Miami. There is good luxury product there now that appeals to the buyer wanting a different pace than Miami.”

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Shannon de Lima at Missoni Baia

April 24, 2018
En esta edición nos acompaña la talentosa Shannon de Lima, representante del triunfo de lo sexy en la industria de la moda. Este año su belleza y carisma se combinan con su espíritu de mujer emprendedora, por supuesto, en el mundo de la moda. Para ella, no se trata de seguir tendencias sino de crearlas; tiene un sentido muy personal de la moda, es una forma de expresión, de autenticidad y de pasión. Ha sido imagen de las más reconocidas firmas internacionales, recientemente estuvo en la nueva campaña de Luli Fama Swimwear . Ahora ha decidido ir más allá y consolidar su relación con la moda en su propia tienda Style Hunters ubicada en Wynwood Miami y lanzando su propia línea de maquillaje de la mano de Girlactik.

Las fotos fueron tomadas en Missoni Baia (primer proyecto residencial de la marca de moda y diseño de lujo italiana Missoni y el Grupo OKO reconocida compañía de desarrollo urbanístico con sede en Miami), ubicada en East Edgewater, es una torre de condominios de lujo de 57 pisos y 249 residencias elegantemente diseñadas, cada una con vista al mar. Una edificación escultural con una estructura innovadora y de alto rendimiento. Las columnas esquineras en forma de aletas dan la apariencia de velas y cascos de elegantes yates. El paisajismo otorgado por las plantas tropicales y las piscinas espejo, entrelaza a la perfección los espacios interiores y exteriores. Un proyecto sencillamente espectacular.

Para ver la galería, haga clic aquí.

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Miami’s very own Flatiron takes shape

April 11, 2018
For years there has been talk of Miami becoming a “Mini-Manhattan,” but now this idea is actually coming to life. International and home to super-tall skyscrapers, stylish hotels and trendy restaurants, Downtown Miami’s Brickell Financial District is the face of the new Miami. And now Brickell’s very own version of NYC’s famous Flatiron Building is taking shape.

Designed by Revuelta Architecture International, vertical construction of CMC Group’s Brickell Flatiron, a 64-story luxury condominium tower now rising in Downtown Miami’s Brickell neighborhood, has reached the halfway mark as builders finish construction of the skyscraper’s 32nd floor. With about one full-level expected to be completed every week going forward until top-off later this year, the 736-foot-tall high-rise is slated to become one of the tallest residential towers in the U.S. upon its delivery in summer 2019. Approximately 75% of Brickell Flatiron’s 549 units have been sold and are currently under hard contract, with about 8 out of 10 condo sales within the last 30 days coming from buyers within the northeastern U.S.

To give his vision life, Brickell Flatiron’s developer, Milan-born Ugo Colombo, partnered with master Italian design architect Massimo Iosa Ghini to create a one-of-a-kind environment that combines the tower’s distinct flatiron shape with flowing, curvilinear forms. On the inside, Iosa Ghini uses inspiration from Brickell Flatiron’s curved façade, which was designed by acclaimed Miami architect Luis Revuelta, to outline the building’s sleek amenity spaces, creating a seamless transition from exterior to interior.

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Marino Santa María creó una obra colectiva con la participación del público

April 21, 2018
Las casas de la calle Lanín se convirtieron en un ícono de la Barracas del siglo XXI cuando el artista plástico Marino Santa María se dejó llevar por la necesidad de comunicar el arte de otro modo. “Empecé a intervenir el frente de mi casa para sacar las obras de las galerías, los museos y los atriles; y cuando me di cuenta, estaba trabajando en la casa de mis vecinos. Ellos me preguntaban cuándo iba a pasar por sus casas y hoy se sienten orgullosos de vivir allí, así que para mí es una satisfacción enorme. Cuando encaré esta obra de semejante envergadura, no me imaginé que iba a tener la trascendencia que tiene”, confiesa.

Acción e interacción. En el marco de la inauguración de las oficinas de Missoni Baia Miami Residences en Buenos Aires, el artista plástico creó una obra colectiva para celebrar el 17° aniversario de la intervención del Pasaje Lanín.

“Yo empiezo y ustedes continúan. No importa lo que hagan, lo que vale es la experiencia y lo que queda en el sentir de cada uno”, dijo Santa María al ceder la posta. En cuestión de minutos, los invitados rodearon al artista y empezaron a pegar mosaicos al unísono.

La intervención, musicalizada por la DJ Virginia Da Cunha, fue pensada para reforzar el concepto de Missoni. “El proyecto está dando que hablar, al igual que la obra de Marino. Pensamos en él porque sus trabajos hacen un match formidable con nuestra misión de romper con lo establecido y apoyar la innovación”, explicó Sandra del Castillo, CEO de ‎IPM World Properties.

Arte, innovación y alegría son las tres palabras que definen al condominio residencial Missoni Baia, que ya comenzó a construirse en East Edgewater. Catalina Martínez, ejecutiva de la compañía, informó que la obra culminará dentro de dos años. “Nos propusimos reinventar el lujo para pasar a la historia. Los argentinos detectaron esto enseguida y se han mostrado muy interesados en invertir en pozo, así que eso nos alentó a apostar por el país. Missoni es arte en sí, como Santa María”, concluyó.

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Meet Carolina Rainer of Brickell Flatiron by Ugo Colombo’s CMC Group

April 19, 2018
Today we’d like to introduce you to Carolina Rainer.

Thanks for sharing your story with us Carolina. So, let’s start at the beginning and we can move on from there.
I started back in 2000 when I moved from Argentina to study a Masters Degree in Psychology. While searching different schools I got the opportunity to work at the Bentley Beach Condo Hotel. Miami was rapidly growing; it was the beginning of the real estate boom. Since then, I have been working in Development Sales, selling luxury condominiums for different renowned developers such as Riccardo Olivieri, Sieger Suarez, Trump, PMG and most recently I was the head of sales at 1 Hotel & Homes in South Beach for LeFrak. Today, I am the director of sales for developer Ugo Colombo’s Brickell Flatiron tower in downtown Miami.

At the same time, I’m a working mom. I have four kids: Santino 14, Franco 12, Valentina 10 and Renata 5. I manage my large family with the same skills I use to run my sales office. The key is to focus on a plan, get organized and find the right balance between my business life and my family. When I get home, I connect with my kids 100%, I review their homework and then we have dinner together, this is a must and it’s not negotiable. I do the same thing with my sales team, I am available for them 100% of the time, I spend time with each agent to review their pipeline and most of the time we have lunch together. With the little one, we have a bedroom routine. Once a week we have a special night. The key is to connect with them at the present moment. I’d rather have quality time than quantity. I think having a working mom teaches my kids that they have to work hard to get what they want; it teaches them to be independent and responsible.

Has it been a smooth road?
It wasn’t in my plans to do real estate but I was in the right place at the right time and I took the opportunity to learn the business. I was offered to work for International Sales Group, the pioneers of Development Sales as a Marketing Psychology Analyst. In no time, I was immersed in sales. The city was growing fast, it was a seller’s market, banks were requiring 20% deposits so buyers were purchasing multiple residences. I represented the most prestigious developers until the market crashed. It was a time of uncertainty, buyers were walking away from their deposits and there were no more new development opportunities on the horizon. I had to reinvent myself and opened my own brokerage firm to represent buyers and sellers, most of them were international buyers seeking opportunities. When there‘s crisis there’s opportunity so this time, I was the buyer‘s agent looking for the best deals for my clients.

So let’s switch gears a bit and go into the Brickell Flatiron by Ugo Colombo’s CMC Group story. Tell us more about the business.
I work for Fortune International Group representing Brickell Flatiron. I specialize in development sales and I’m currently the head of sales at Brickell Flatiron. I’m proud of representing the finest developer in Miami. Ugo Colombo has the highest standards of luxury and I have a dream sales and marketing team. Since Fortune took over the project in October 2017, we’ve sold condos totaling almost $50MM in a buyer’s market. This says a lot about the strength of the developer, the uniqueness of the project and my dedicated sales team. What sets me apart from the rest is my attitude, my psychology background, my ability to negotiate and of course my 15 years of experience in luxury development sales. Everyone can have a real estate license but not everyone can close a deal.

How do you think the industry will change over the next decade?
We’re seeing a shift in buyer demographics in Miami when it comes to a luxury real estate. We’ve seen a dramatic uptick in the number of northeast buyers scooping up Miami condos over the past 90 days since Trump’s tax plan was announced. At Brickell Flatiron, 8 out of 10 condo sales in the last 30 days were to buyers from the northeastern U.S. (places like New York, Chicago, New Jersey, Connecticut, Massachusetts, etc.) – with an average sale price of over $1 million. To further illustrate the extent of the changes, this time last year, 70% of Brickell Flatiron’s condos were selling to Latin American buyers. Today, 80% of sales are to domestic buyers.

Pricing:

  • Residences at Brickell Flatiron are priced from the $500,000s to $2 million, with penthouses priced from about $1 million up to $15.5 million.

Contact Info:

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Brickell Flatiron vendido en un 75 por ciento (+fotos y video)

April 18, 2018
CMC Group reportó a que ya está vendido el 75 por ciento de las 549 unidades de la torre de condominios de lujo Brickell Flatiron en el Downtown Miami.

Este elegante rascacielos fue diseñado por el arquitecto Luis Revuelta de Revuelta Architecture International y el gran arquitecto italiano Massimo Iosa Ghini. Mediante paredes de cristales y líneas curvadas crean una sensación de movimiento que diferencia a Brickell Flatiron del resto de los edificios de de la zona.

Su impecable diseño, sumado a las piezas de artes, crea un ambiente unico para el deleite de los residentes. El rascacielos de lujo tendrá una altura de 736 pies una vez terminado, aún quedan 138 unidades disponibles.

Actualmente el desarrollador ofrece dúplex de techo de 9 pies de altura y áticos de techo de 10 pies de alto. Los costos de dúplex comienzan en $500,000, mientras que los precios en el ático comienzan en $ 1 millón.

Cada unidad tiene una puerta corrediza de vidrio que conduce a un balcón, algunos de los cuales tienen vistas a la bahía de Biscayne.

La torre es su propio centro de entretenimiento en el distrito financiero de Brickell, que incluye una sala de vinos, una bodega y una sala de puros. Los residentes pueden leer un libro en la biblioteca o jugar en el billar. El lobby incluye opciones de venta al por menor y restaurantes.

El estilo de vida exclusivo de Brickell Flatiron le entrega la vida de hotel a su hogar. Con un servicio cinco estrellas y amenidades de lujo, los residentes podrán disfrutar de la comodidad y la categoria del Brickell Flatiron.

Cuenta además con una impresionante piscina con vistas panorámicas de Miami y la Bahía de Biscayne. Diseñada para el disfrutar desde el ultimo piso, esta piscina de natación con personal de servicio ofrece reposeras, áreas de relax y un bar de jugos.

Además es un jardín en plena ciudad, este oasis urbano en la terraza brinda espacios verdes privados a los residentes, para que puedan descansar y de las vistas a todo Miami.

Según Ugo Colombo, desarrollador y CEO de CMC Group, ya se completaron 32 plantas de la propuesta de 64 pisos. De acuerdo con el desarrollador, un nivel se finalizará semanalmente hasta que se completen los 64 pisos. La construcción comenzó en 2016 y su fecha de finalización está programada para el verano de 2019.

Para ver la galería y video, haga clic aquí.

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5 Questions with Developer Vladisdav Doronin

April 2018

Developer Vladisdav Doronin took part in a Q&A session. Read the full feature here.

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Victoria’s Secret model Lais Ribeiro makes waves in Miami

April 18, 2018
Last fall, when she was chosen to model the Victoria Secret’s diamond-and sapphire-encrusted “Champagne Nights Fantasy Bra” at the lingerie brand’s fashion show in Shanghai, Lais Ribeiro became one of the most famous strutters on the planet.

The 27-year-old, who has graced the covers of fashion magazines around the globe, follows in the footsteps of fellow Brazilians Gisele Bündchen and Adriana Lima, who’ve also donned the bejeweled brassieres. (If modeling had a knighthood, this would be it.)

But Ribeiro still has to fight for recognition in her hometown of Miguel Alves — a sleepy municipality of neat stucco houses with terra cotta roofs, deep in Brazil’s hardscrabble northeast.

“Every time I go home, everyone still knows me as Seu Pereira’s granddaughter!” she says with a laugh.

Raimundo Pereira, 87, owns the only general store in Miguel Alves, where Ribeiro used to hand out flyers for fashion shows put on by a friend’s agency. (Ribeiro was deemed too skinny and, at a towering 6 feet, too tall to work the catwalks herself.)

“In that part of Brazil, the preference is for curvy girls,” she tells Alexa. “I started training to be a nurse, but I was a single mother and wanted to earn some extra money.”

In 2009, a year after giving birth to her son and just shy of her 19th birthday, she was discovered by a scout from São Paulo, who whisked her away to New York and Europe. Ribeiro soon found herself walking in shows for Tom Ford, Chanel, Christian Dior and American Eagle. By the time she returned to Brazil in 2011, she was the most sought-after model for fashion weeks in São Paulo and Rio de Janeiro, starring in 27 shows in São Paulo alone.

But Ribeiro considers Victoria’s Secret, where she’s been modeling since 2015, to be the pinnacle of her career. When she was chosen to wear that coveted bra, worth more than $2 million, she Skyped her family in Brazil.

“I couldn’t stop crying, and they couldn’t stop crying,” she says. “I’d worked for years to wear that bra, and at that moment I saw my entire career pass in front of me.”

In addition to her runway success, Ribeiro is a devoted mom to her 9-year-old son, Alexandre, who lives with her in New York. “He is a very sensitive kid and has a really good heart,” she says. “If he sees a homeless person on the streets, he asks me why we are just walking by and not stopping to help. When you hear this from a child, it forces you to confront certain things as an adult.”

The family — which now includes boyfriend Jared Homan, a professional basketball player (most recently for an Israeli league) — attends church on Sundays and then heads to Berimbau do Brasil on Carmine Street, where Ribeiro indulges in her favorite dishes, such as rice, beans and stroganoff.

“I have to be careful of my metabolism as I age, and before a show I always have a fairly disciplined routine, but I don’t deprive myself on weekends,” she says. “I love the food I grew up with.”

Like his mother, Alexandre speaks Portuguese, and they spend most of their holidays back in Miguel Alves. Ribeiro has a great-grandmother in Brazil who just celebrated her 99th birthday. “We call her the young woman!” Ribeiro says, laughing.

Grateful for her deep roots and her high-profile career, the model says she feels a big responsibility to give back.

“I am a public person, not just in Brazil, but in the whole world, and I want to use whatever notoriety or fame that I have for good,” she says. “Whatever I do, I am always conscious that I could be doing a lot more.”

Her efforts include encouraging young models to stand up to sexual harassment through the #MeToo movement.

“I came to New York to pursue my modeling career as a young mom, and thankfully was given advice to always stick up for myself and tell someone if I felt like something wasn’t quite right,” she recalls. “To the young women who, like me, are just trying to go after their dreams, I would remind them that modeling is a job like any other — they deserve to be treated with a certain level of respect and professionalism at work.”

In Brazil, she’s bravely backing local initiatives for justice. Last month, after the murder of a Rio de Janeiro councilwoman who fought against police brutality, Ribeiro felt compelled to speak out on Instagram. “Revolting,” she wrote (in Portuguese) after the killing of Marielle Franco, a slum activist and single mom, who was gunned down by assailants March 14. “She should inspire a torrential insurgency of feelings and actions and an entire generation of women like her.” Ribeiro shared the post with her 1.6 million Instagram followers.

She’s also an ambassador for Bottletop (founded in conjunction with luxe fashion label Mulberry), which helps artisans in developing countries to craft handbags out of locally sourced materials (like bottle caps, rubber and seeds found in the rainforest). The foundation also funds health care initiatives and skills training for at-risk youth in Africa and Latin America.

“I am really happy to help young women in some of the poorest parts of Brazil. But I want to do a lot more,” says the highly motivated Ribeiro.

Although she has no plans to leave modeling, Ribeiro is eager to add acting to her resume. “I am ready for other challenges — I’m not afraid, and I want to learn.”

As for her time in Miami (which the model frequently visits for shoots), she loves to explore the latest restaurants, boîtes and shops. But she spends most of her free time at the beach.

“I’m Brazilian, after all!” she says. “Brazil will never ever leave me.”

Made in the Jade

We photographed our cover star, Lais Ribeiro, in one of the lavish Sky Villas at the 57-story Jade Signature in Sunny Isles Beach, Miami. Those Sky Villas (available from $14.3 million to $16.5 million) boast 20-foot ceilings in their living areas, private elevators, smart technology, service quarters and PYR-designed bathroom cabinetry. The two-story villas command breathtaking ocean views from oversize terraces, which range from 1,161 to 3,908 square feet.

For those in need of an even more magnificent space, the building’s two full-floor penthouses feature private pools, custom gyms and 360-degree views of the Atlantic Ocean, the Intracoastal Waterway and the Miami city skyline. The five-bedroom, 7.5-bathroom penthouse, on the 55th floor, is priced at $22.3 million, while the upper seven-bedroom, 9.5-bathroom penthouse on the 56th and 57th floors is on the market for $32.9 million.

The Jade — a 192-unit building designed by Pritzker Prize-winning Swiss architects Herzog & de Meuron (known for their work at the Tate Modern in London and Peréz Art Museum closer to home) — was developed by husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group. It offers resort-style amenities, including a free-form swimming pool, secluded cabanas, an oceanfront restaurant, on-demand concierge service and a spa appointed with a sauna, a hammam and a relaxation zone. Ommm.

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Jade Signature Opens in Sunny Isles Beach

April 15, 2018
Last month, hundreds of individuals gathered in Sunny Isles Beach, Fla., to celebrate the grand opening of Jade Signature. Designed by Pritzker Prize–winning Swiss architect Herzog & de Meuron, the daring design soars 57 stories above the Atlantic Ocean and is surrounded by lush tropical foliage and sandy white beachfront. Developed by Fortune International Group, the residential project showcases interiors from Pierre-Yves Rochon and landscaping from Raymond Jungles Inc. Free-flowing floor plans and the tower’s angled position allow for just the right amount of sunlight to stream into each residence.

The jewels of the tower are known as the Collection, which is made up of two-story Sky Villas offering 6,305 to 6,735 square feet of indoor living space (with up to 3,908 square feet of outdoor terraces) and two penthouses with 9,183 to 11,660 square feet of living space (with up to 7,571 square feet of terraces). The penthouses include private swimming pools and gyms overlooking the Intracoastal Waterway along with the city to the west and the Atlantic Ocean to the east.

The Sky Villas embrace the natural surroundings, mimicking the tranquility of the ocean outside with floor-to-ceiling windows, 180-degree views, natural-hued furnishings, 20-foot-high ceilings in the living rooms, and sheer drapes. Designed by Meyer Davis, the model unit Sky Villa gives prospective buyers a behind-the-scenes look at what their future residence could be like. Known as the astronomy room, the unit’s first-floor guest bedroom is graced with a celestial rug from Moooi and artwork above the bed depicting an eclipse. Designed as an equestrian escape, the queen bedroom on the second floor is full of rich leather accessories, linen wall coverings that mimic the touch of burlap, and Hermés fabric with an elegant horse design. Textured blue walls, fresh white linens, and nautical artwork in the twin bedroom evokes the effortless charm of Miami.

Three Sky Villas are still available for purchase, with prices starting at $14.3 million.

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Only Halfway Complete, Brickell Flatiron Is 75% Sold

April 10, 2018
MIAMI–Construction on Miami’s Brickell district’s own version of New York City’s famous Flatiron Building is coming along. CMC Group has announced that vertical construction of the 64-story luxury condo tower has reached the halfway mark, with workers just having finished the skyscraper’s 32nd floor.

As CMC Group makes progress on the building, it is also reporting that approximately 75% of Brickell Flatiron’s 549 units have been sold and are currently under hard contract, with about 8 out of 10 condo sales within the last 30 days coming from buyers within the northeastern US.

Top-off is expected later this year at a pace of about one full level expected to be completed every week going forward. When it delivers in the summer of 2019, the 736-foot-tall high-rise is slated to become one of the tallest residential towers in the US.

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The Latest In Luxury Living: Combining New Condo Units Into Massive Homes In The Sky

April 9, 2018

For decades, the appeal of suburban living has had two major advantages over downtown dwelling: space and shopping. Most downtown real estate is compact by comparison, and many retailers and restaurants moved their operations years ago from urban cores to suburbia’s shopping plazas and malls. But as a legion of luxury condos has risen from Miami’s sand and limestone, a new trend in the high-end market has shifted attention back to South Florida’s cities. Downtown Miami and Fort Lauderdale again boast thriving arts, entertainment, dining and cultural destinations.

The only missing link — space — has now been accounted for thanks to the creative thinking of architects and condominium owners. Purchasing multiple condo units and combining them into one unit gives residents everything they’re looking for in swanky downtown living: plenty of breathing room, access to everything the city has to offer and, of course, stunning views. 

“Our city is becoming more vertical, and now people are preferring condos in the urban core versus the commute into the suburbs,” said Alicia Cervera Lamadrid, managing partner and principal of Cervera Real Estate. “Plus, downtown is a beautiful place to live, so it’s a win-win. There aren’t a lot of immediate choices for larger units, so combining units is a good alternative.”

Here are six new and under-construction buildings where some owners have combined condo units, bringing a solution to cramped city living with mansions in the sky.

Palazzo Del Sol

Located on exclusive Fisher Island, Palazzo Del Sol is undoubtedly one of Miami’s most desirable addresses. As continuous requests came in from buyers to combine units, developers took note and merged Palazzo Del Sol’s two floor-plan options into a 10,000-square-foot dream home, priced at $17.4 million.

Taking the level of luxury one step higher, Artefacto transformed the five-bedroom condo into a contemporary space with sleek grays and silvers and elegant finishes. Sitting in the huge living room, surrounded by whitewashed hardwood floors and substantial art, you could almost picture yourself in a suburban manse — until the sprawling views of the city and ocean remind you where you are. 7000 Fisher Island Drive, Miami Beach; 305-535-6071; palazzodelsol.com.

The Ritz-Carlton Residences, Miami Beach

The Ritz-Carlton Residences, Miami Beach, has fashioned a combined penthouse of epic proportions. The two-story mansion is a mash-up of two penthouse floor plans, creating a $40-million residence with 25,589 square feet of indoor and outdoor space.

Featuring seven bedrooms, 10 bathrooms, a private hammam spa, butler kitchen, library, wine room, screening room and game suite, the unit also has soaring ceilings and views of the city or ocean from almost every room. Swimming is simplified with sunrise and sunset pools, each with hot tubs, plus two additional private plunge pools adjacent to the two master suites.

Designed by Italian architect Piero Lissoni, the property offers a tropical living experience with the service standards and amenities of The Ritz-Carlton brand. Here, that includes a 36-slip marina and floating helipad. 4701 Meridian Avenue, Miami Beach; 305-602-2929; theresidencesmiamibeach.com.

Echo Brickell

This boutique building in the heart of Brickell has taken personalization to another level. To suit their specific needs, each owner was given the opportunity to alter finishes, design elements and even floor plans. Eight chose to purchase multiple units and combine them.

Designed by renowned architect Carlos Ott, no two homes in Echo are exactly the same. Units have been combined vertically and horizontally, from $3.8 million to the $42 million Ott-designed penthouse. That 13,518-square-foot, two-story combined unit has four bedrooms, seven baths, his and her walk-in closets, private spa and gym, home theater, office, ceilings up to 23 feet, and its pièce de résistance: a 27-foot indoor pool. 1451 Brickell Avenue, Miami; 786-360-1904; echobrickell.com.

Aria on the Bay

Elevating condo life, Aria on the Bay’s gorgeous sky homes are the perfect alternative to suburban living. Their most exclusive floor plan — the A line — has been sought after by celebrities and socialites. Rapper Timbaland recently bought two units and is working on combining them.

These luxurious A-line condos start at $3.1 million. Combining two gives owners 4,724 or more of square footage to play with.

Additionally, the residences come fully finished and equipped with beautiful Italian cabinetry, Brizo faucets, Bosch appliances and a private elevator. Towering windows lead to wraparound terraces with unobstructed views of Biscayne Bay. 1770 North Bayshore Drive, Miami; 305-573-0666; ariaonthebay.com.

Four Seasons Private Residences, Fort Lauderdale

Four Seasons extends its brand of first-class living to Fort Lauderdale. The property, set to open in 2019, will have 90 exclusive residences with several combined-unit options. Penthouse residences can be merged to make a $25-million, one-of-a-kind home with more than 12,000 square feet of interior space and 10,000 square feet of exterior space, including a private rooftop and 360-degree wraparound terrace.

Owners also can combine two-story Skyhomes 1701 and 1702, which come with 20-foot ceilings and private elevator access. Price upon request. 525 North Fort Lauderdale Beach Boulevard, Fort Lauderdale; 954-324-2498; fort525residences.com.

Auberge Beach Residences & Spa

Known for its five-star hotels, Auberge is bringing something unique to Fort Lauderdale beach with its private residences, which cost up to $9.5 million.

Noticing that several owners were purchasing multiple units, Auberge created a two-story penthouse with nearly 5,000 square feet of indoor living space and 3,500 square feet of outdoor terraces, complete with a private rooftop plunge pool.

A dramatic spiral staircase punctuates the floor plan, which includes nearly 10-foot ceilings and massive windows overlooking the ocean, city and Intracoastal. And a private elevator to whisk you up and down every day. 2200 North Ocean Boulevard, Fort Lauderdale; 844-352-3224; aubergebeach.com.

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That Brickell View at Una Residences

April 2018
As the skyline fills out, vistas become more precious. No one knows that better than Vladislav Doronin, who nabbed the ultimate waterfront plot for his new Una tower.

Read the full feature here.

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The Ultimate Golf Fantasy Home

April 4, 2018
These luxury homes aim to lure golf lovers with a host of amenities

$5.435 million
Fort Lauderdale, Fla.

Four bedrooms, five full bathrooms, one half-bath

This 4,700-square-foot, 16th-story condo in the Auberge Beach Residences and Spa has ocean and intracoastal views. The golf simulator in the community’s amenities center, endorsed by the PGA Tour, uses a three-track camera with advanced swing video analysis and 73 simulated courses.

Agent: Wendy Marks Pine, Auberge Beach Residences and Spa

$11.75 million
Indian Wells, Calif.

Five bedrooms, five full bathrooms, two half-baths

This 10,792-square-foot home has a golf simulator in the house and a 21-hole golf course in the community. The 1-acre lot in the gated Reserve Club community includes a three-bedroom, three-bath guesthouse with a kitchen and laundry room. The main home has an exercise room, pool and views of Coachella Valley.

Agent: Deirdre Coit, Berkshire Hathaway Home Services

$32 million
New York City

Four bedrooms, six full bathrooms, one-half bath

This 5,161-square-foot penthouse, with 26-foot ceilings and floor-to-ceiling windows, is in the Hudson Yards neighborhood of Manhattan. The building has 40,000 square feet of amenities, including a pool, spa and golf simulator—the Pro Series with 84 courses. The property has a rooftop entertaining space.

Agent: Sherry Tobak, Related Companies

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UNA, su diseño y arquitectura lo dicen todo

April 3, 2018
Una, definirá aún más a Miami como uno de los principales destinos del mundo con un estilo vida elegante y sofisticado.

El equipo OKO Group crea su segundo proyecto inmobiliario en Miami posterior al inicio de la construcción de Missoni Baia, ésta empresa constructora fundada por el magnate de bienes raíces Vladislav Doronin, crea la monumental torre diseñada por Adrian Smith + Gordon Gill Architecture (AS + GG) aclamados arquitectos constructores de la Torre Jeddah en Arabia Saudita.

La lujosa torre cuenta con 47 pisos y terrazas panorámicas de 180 grados, Key Biscayne hacia el este, Miami Beach hacia el norte, Coconut Grove hacia el sur y Coral Gables hacia el oeste.

Su diseño interior está inspirado en los detalles del yate Riva con materiales naturales como el cuero, madera y piedra que contrastarán con los tonos fríos del acero inoxidable para crear un ambiente atemporal y clásico. Sus jardines privados ubicados en la bahía, estarán diseñados por la firma de arquitectura paisajística Enzo Enea que dará un toque único al entorno del parque.

Para quien desea un estilo de vida superior frente al mar, Uno cuenta con una marina privada alejada del ruido y la congestión de la ciudad, con todas las comodidades y un vibrante estilo de vida en Miami; atractivo para familias jóvenes, parejas sin hijos, solteros y personas que viven en espacios amplios en busca de un tamaño más adecuado, así como compradores e inversionistas internacionales que buscan seguridad y tranquilidad a un paso del distrito financiero de Miami.

Una, tendrá 135 residencias, todas con vista a la bahía, inicia de dos a cinco habitaciones. Cada residencia contará con ascensor privado, alturas de 10’8 “, cocinas equipadas profesionalmente con electrodomésticos Gaggenau, su alcoba principal cuenta con armarios y baños separados para él y ella, cuartos de servicio con lavadoras y grandes secadoras.

La torre también incluirá residencias con vista al océano y la ciudad de Este a Oeste en sus pisos superiores y dos penthouses con piscinas privadas. Los precios comienzan en $900,000 dólares.

Las ventas son exclusivas por Fortune Development Sales.

Entre los muchos elementos distintivos que resaltan la experiencia de ser propietario de Una, se encuentran su marina deportiva privada especial, tres piscinas, un gimnasio con lo último en aparatos con áreas de entrenamiento y de yoga; gracias a la relación de Vladislav Doronin con la marca de hoteles Aman, el complejo contará con un spa diseñado bajo la estética de Aman, que ofrece salas privadas de tratamientos tanto en el interior como al aire libre con vista a la bahía. Incluye un salón de belleza privado, un salón para cenas o eventos, otro al aire libre, cine, área de juegos para niños, sala de juegos para adultos y conserje las 24 horas.

Los residentes de UNA se beneficiarán con los accesos a las principales carreteras y arterias de Miami.

La torre ofrecerá un estilo de vida único, intimidad total, exclusividad y una gama de servicios de lujo de primera clase que son una muestra de la excepcional forma de vivir en Miami.

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Pfizer CEO revealed as buyer of $13M condo in Sunny Isles Beach

April 2, 2018
Pfizer CEO Ian C. Read was behind the $13 million acquisition of a “sky villa” condo in the Jade Signature in Sunny Isles Beach, according to recently obtained records.

Read adds to the list of corporate titans with homes in South Florida. He’s been CEO of Pfizer (NYSE: PFE), one of the world’s largest pharmaceutical firms, since 2010. He pulled down $27.9 million in compensation in 2017 — so a $13 million condo wasn’t even half of that.

As previously reported, Sunny Isles Beach Associates, an affiliate of Miami-based developer Fortune International Group, sold Unit 5101 in the condo at 16901 Collins Ave. to IJ LLC, a Delaware-registered company with an address listed at 296 Stanwich Road in Greenwich, Connecticut. According to an official with the Town of Greenwich, that home is owned by 296 Stanwich Road LLC. Connecticut state records identify Read as the managing member of this LLC.

The two-story condo has 6,735 square feet of interior space and 1,161 square feet of outdoor living space. The sky villa features five bedrooms, six bathrooms, two half-bathrooms, a double-sized dining room, a gym and an entertainment lounge. It has a 22-foot ceiling height and a 180-degree view of the ocean.

Read isn’t the only high-profile corporate executive to buy in Jade Signature. Former Chubb Corp. Chairman recently paid $7.8 million for a condo there.

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Agent Snapshot: Carolina Rainer, Director of Sales, Fortune International Group

April 2, 2018
Name: Carolina Rainer.

Job Title: Director of Sales at Brickell Flatiron.

Company name and office location: Fortune International Group – Brickell.

What was your first job in the realty industry? The Bentley Beach in South Beach developed by Riccardo Olivieri.

Where did you grow up? Buenos Aires.

Growing up, what did you want to be? Psychologist and musician.

What do you do to relax when you’re stressed? Run or play electric guitar.

If you could have lunch with a well-known figure (living or not), who would it be and why? I would enjoy having lunch with anyone that made a difference in the world in a positive way, a person who can inspire me like Madre Maria Teresa.

Where is your favorite place to hang out? Brickell is the only urban neighborhood in Miami — there are many new chic and elegant restaurants and trendy bars to hang out, all concentrated within 10 blocks.

What do you love most about the industry? I love to help people buy their dream home; I also enjoy directing development sales. When I choose to represent a developer, I invest all my time and energy focusing on one project, so it has to be the best developer, development, location, and sales and marketing team.

How do you distinguish yourself from the crowd of agents? Someone I truly respect in the industry told me once that I was a “rainmaker” — I create opportunities and make sure the parties reach an agreement. With more than 15 years of experience in the Miami real estate industry, I consider myself an expert in the field.

What is the most difficult aspect of your job? Dealing with difficult people makes things complicated.

Where do you go to network and meet new clients? My new clients and brokers come mostly from referrals of successful past sales. I find myself networking everywhere I go, but If I had to think of events to find buyers, I would attend charity events, art exhibitions and film festivals.

What has been your greatest accomplishment? Giving water birth to my children has been by far my greatest accomplishment. In business, it was when I was named co-sales director at Mei Condominium and together with my sister we hit $136 million pre-sales within six months of opening a temporary trailer that was our “sales office.” Back in 2005, we didn’t have the technology we have today, so it was basically selling with preliminary floor plans.

What was the last good movie you saw or book you read? “Coco,” a great movie with a deep message.

What is your favorite restaurant? Cipriani in downtown Miami.

Architecturally speaking, what is your favorite building in Miami? Brickell Flatiron by Miami architect Luis Revuelta.

What kind of car do you drive? Mercedes Benz.

Smartphone or paper? Both.

What is your favorite city after Miami? London.

In 10 words or less, what is your advice for someone new to the industry? Give priority to your buyer/seller relationship instead of the commission.

What’s your favorite real estate iPhone/Android app? DocuSign, a digital hero.

Who are your favorite people to follow on Twitter? Tony Robbins, Adam Grant.

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Could virtual reality change Miami’s real estate industry?

March 30, 2018
To most people, virtual reality is synonymous with a cool but unessential toy — the domain of video games, sci-fi movies and pop entertainments such as “Ready Player One.”

But as virtual reality matures and improves, a growing number of industries is finding creative uses for the technology. According to Entrepreneur, Walmart uses VR to train its salespeople. A 12-month study by Duke University found VR can help paraplegics with chronic spinal cord injury to restore locomotion. According to Endgadget, long lines of people waited to test drive new cars by Chevrolet, Ford and Honda at the 2018 North American International Auto Show using VR headseats. Royal Caribbean Cruises has designed some of their ships entirely on virtual reality.

Now the real estate industry is joining the VR craze. The national building contractor Suffolk Construction has opened a Smart Lab in its downtown Miami office, following other labs in New York, Los Angeles, Boston, San Francisco and Tampa. All opened over the last year.

The lab uses technology such as a CAVE (Computer Aided Virtual Environment) room, in which clients don an HTC Vive headset to walk through a photorealistic 3D model of a future project that has been created from architectural blueprints and drawings. The CAVE also allows a group of people to explore a virtual environment together while wearing WorldViz VR 3D glasses.

The effect is astonishing. You can walk through a work site to make sure the hallways are wide enough for construction materials and equipment; ride elevators from the ground floor to the roof of a project or step into a posh hotel room and change the color of the wallpaper or countertops with the click of a handheld controller.

“The basic concept behind the Smart Lab is that we can build it in pixels before we build it in brick and mortar,” said Joe Fernandez, vice president of operations for Suffolk Construction. “We take real-time decisions and put them in a 3D model so the client can immediately see the finished result. Instead of saying, ‘I hope it’s going to look this way,’ now it’s, ‘Here’s what it’s going to look like.’ This is game-changing technology.”

Other features of the Smart Lab include a Data Wall, comprised of nine large smart-board touchscreens, that provides predictive analytics and other information that can be used for ongoing and completed projects. The lab also offers clients live streaming feeds of their job sites; side-by-side comparisons of the construction phase at various stages; and aHuddlewall, a giant display surface for Lean pull planning meetings, which allow players from every aspect of the construction process — plumbers, electricians, painters — to compare notes and collaborate on their current project in real time.

A pioneer in the field

The software used by Suffolk in its Smart Labs isn’t proprietary. Earlier this year, for example, Plantation-based e-Builder was sold to a national firm, Trimble, for $500 million. But the labs are the culmination of the company’s trademark incorporation of technology into the construction process. According to a recent survey by Software Connect, only 6 percent of construction companies currently implement VR technology, although that number is expected to grow to 15 percent by 2020.

Fernandez declined to say how much each Smart Lab has cost to make, but he said Suffolk Construction reported revenue of just over $3 billion in 2017, and currently employs 2,000 people. The company was founded in Boston in 1982. The Miami office opened in 1994.

Recent projects that have employed Suffolk’s technological services include the upcoming 638-room Seminole Hard Rock Hotel and Casino near Hollywood, which is due in summer 2019, and the mammoth new Royal Caribbean Cruises terminal at PortMiami, which is expected to be completed in October.

“There have been a lot of technology advancements in the last 10 years, but there hasn’t been a lot of drive to get those advancements into construction,” said Lance Dengerud, director of the Miami Suffolk Smart Lab. “Some developers have been a little skeptical about making the connection from a digital model into the physical world, but word-of-mouth from our clients is helping. The conversation is going from ‘What is this? It’s scary!’ to ‘This is what I want.’ 

One of the true believers in Suffolk’s high-tech approach to construction is Edgardo Defortuna, president and CEO of Fortune International Group. His company collaborated with Suffolk in the design and building of the Jade Signature luxury condo tower in Sunny Isles Beach, which broke ground in 2013 and opened its doors on March 16. The futuristic structure, designed by Pritzker Prize-winning Swiss architects Herzog & de Meuron, presented some unique construction challenges, including an underground parking garage 40 feet below sea level. The tower is also built at an angle, to maximize its exposure to sunlight.

“We knew Jade Signature would be an extraordinary undertaking and that a collaboration with Suffolk would be a cornerstone of the project’s development,” said Defortuna, whose sales team shipped virtual reality goggles to prospective Jade buyers during the preconstruction phase in 2016. “The result has exceeded every expectation.”

Although the real estate industry has been slow to embrace technological advances beyond what smartphones and the internet provide, observers expect that to change soon. According to Inc.com, virtual reality will be the second biggest real estate trend in 2018, second only to blockchain technology, which powers Bitcoin and other forms of cryptocurrency.

Beth Butler, president and general manager for Compass Properties Florida, said virtual reality could soon spill over to the real-estate-agent arena, allowing brokers to walk their clients through homes and condos without either of them leaving their house.

“The technology is still a little expensive right now, but it will become more mainstream,” Butler said. “Instead of having to fly someone down from New York to show them a property, they can see it from their home. It beefs up the viewing experience and makes you feel like you’re actually there. I’m seeing a lot of investment in this technology.”

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Miami Area Gets Newest Crop of Condos

March 29, 2018
After a rocky 2017 that was filled with uncertainty, the Miami real estate market seems poised for a stronger 2018.

“The market is definitely rebounding,” said Daniel de la Vega, president of One Sotheby’s International Realty. “Consumer confidence is extremely high and the stock market continues to rally. Hedge funds have recovered after a couple of bad years.”

Two very high-end Sotheby’s offerings—the 62-story One Thousand Museum by Zaha Hadid Architects and the 54-story Turnberry Ocean Club in Sunny Isles Beach—have performed particularly well, he said.

Miami luxury condo sales have risen in three out of the last four months (January, December and October), according to the report. Single-family luxury home sales in January rose 7.1%, from 56 to 60 year-over-year, and they, too, have risen for the same three out of the last four months.

From an inquiry perspective, “we’re seeing a little more time between inquiry and closing,” Mr. Parker said.

He attributes that to more buyers looking at Miami as a primary residence rather than as a second home market. “Buying a primary residence involves a longer thought process—you want to look longer, think longer,” he said.

“We’ve had a huge domestic surge from the Northeast, from Illinois, Massachusetts, New Jersey, New York of course, and Connecticut,” Mr. Parker said, which may have something to do with the fact that there’s no state income tax in Florida, unlike the high-tax states in the Northeast. He has also seen greater interest from Canadians, he said.

In the international market, “Brazil and Argentina are both coming back,” Mr. De la Vega added. “They have always been a strong market for us. Whenever we see Latin America coming back, we’re excited.”

There is also a lot of activity in the rest of the South Florida market, Mr. Parker said. He described the Fort Lauderdale market as “explosive.” “All of our developments there are seeing tremendous activity,” he said.

In Miami, “downtown has experienced a surge of completion of new development product, and a lot of people are concerned about that,” Mr. Parker said. But he remains generally optimistic about downtown and its ability to absorb the inventory.

“There is a lot of capital in that market, and the rental market has been strong,” he said.

In general, developers can be somewhat more patient now than they were in 2017, Mr. De La Vega said. “Developers who are under construction or topping off don’t have to give away the house. There’s not this rush to sell.”

Developers who have launched sales without breaking ground, however, are having a tougher time, he said. “If you haven’t broken ground right now, I think it will be tough to get off the ground.”

Here’s a look at some new projects beginning to take shape in Miami and South Florida this spring:

Palazzo Della Luna, 6800 Fisher Island Drive, Fisher Island

Sales launched earlier this month at Palazzo Della Luna, the second ultra-luxury boutique condominium and final building in a two-phase “velvet rope reserve” residential development underway on the legendary Fisher Island in Miami. The property features interiors by New York-based Champalimaud Design, the firm’s first new residential development commission in Miami. Led by namesake Alexandra Champalimaud and partner Winston Kong, their portfolio includes the Beverly Hills Hotel, the Dorchester in London, The Waldorf Astoria New York, the Four Seasons Jakarta, the St. Regis Beijing and The Peak Mount Nicholson in Hong Kong. (Champalimaud will join designers Sam Robin and Augusto Busnelli in curating two of the four turnkey model residences to be completed immediately upon Palazzo Della Luna’s 2019 delivery.)

Led by PDS Development LLC and veteran developer Heinrich von Hanau, the 10-story Palazzo Della Luna will feature 50 three- to seven-bedroom waterfront residences, with a variety of modern floor-through layouts and panoramic views of the ocean, bay, South Beach, Downtown Miami and the storied private Fisher Island and golf course. The residences will feature private elevator entry and open floor plans with wide-plank European oak wood flooring throughout and deep terraces with panoramic vistas. Interior appointments include Lualdi doors, BOFFI kitchens with Miele appliances and Sub-Zero refrigeration, BOFFI master bathrooms with custom soaking tubs, and Dornbracht and Duravit plumbing controls and fixtures.

Palazzo Della Luna is located on Fisher Island’s last remaining prime waterfront parcel, situated on Government Cut precisely where Biscayne Bay meets the Atlantic Ocean. The building is currently under construction and slated for completion in summer 2019.

Accessible only via the island’s own auto-ferry system or by private yacht, Fisher Island has 216 private acres of tropical living, located within minutes of Downtown Miami and Miami Beach. The premier Fisher Island Club recently completed a $60 million renovation to its amenities, including the oceanfront Beach Club, Vanderbilt Mansion, par-35 championship nine-hole golf course designed by P.B. Dye, state-of-the-art tennis center with 18 lighted courts and two private deep-water marinas.

Number of units: 50
Price range: $6.5 million to $40 million
Developer/Architect/Interior designer: PDS Development, LLC/Kobi Karp/Champalimaud
Apartment sizes: The three- to seven-bedroom waterfront residences range in size from 3,724 square feet to 10,194 square feetAmenities: Concierge, valet parking, waterfront lounge with butler-serviced aperitivo bar and intimate reading lounge, beauty salon, private treatment and massage suites, media room, business center, fitness center by The Wright Fit, infinity-edge pools, a pool bar with towel and refreshment service, his-and-hers spa cabana with sauna, steam and shower, pool terraces with lush landscaping, and nine poolside cabanas available for purchase. A Kidville-designed children’s playroom is being created in collaboration with fifth- and sixth-grade students at Fisher Island Day school.
Website: palazzodellaluna.com

Una, 175 SE 25th Road, Miami

On the heels of its groundbreaking of Missoni Baia late last year, OKO Group is announcing the launch of Una, its second Miami project. The Miami-based development company founded by real estate magnate Vladislav Doronin will again partner with the international real estate investment firm Cain International to develop Una.

The 47-story condo tower will be in the waterfront neighborhood of South Brickell, near the crossroads of Coconut Grove’s Main Highway and Brickell Avenue. It offers easy access to the city’s financial district as well as high-end restaurants, retailers and yacht clubs.

Mr. Doronin, a prolific developer whose global portfolio includes 71 international projects and 75 million square feet of property, spent more than a year searching for a parcel that would offer a superior waterfront lifestyle with a marina in a pedestrian friendly neighborhood.

Una is being designed by the international architectural firm of Adrian Smith + Gordon Gill Architecture (AS+GG), best known for designing some of the world’s most extraordinary supertall skyscrapers, such as the Jeddah Tower in Jeddah, Saudi Arabia.

The Una tower will have a striking facade with clear modern lines and ribbon-like curves inspired by the sinuous teak decking on the iconic Riva yacht.

Expansive terraces will take advantage of the rare waterfront site, the first available on the market in decades, offering 180-degree sweeping vistas of Key Biscayne to the east, downtown Miami and Miami Beach to the north, Coconut Grove to the south, and Coral Gables and beyond to the west.

Ensuring a cohesive exterior and interior aesthetic, AS+GG will also spearhead the building’s interior design. A private bayside garden by the landscape architectural firm of Enzo Enea will further enhance the urban park setting.

Each of the 135 residences will feature private elevator entry, 10-foot-8-inch ceiling heights, chef’s kitchens with Gaggenau appliances, master suites with separate his-and-hers closets and bathrooms, and utility rooms with full-sized washers and dryers. The 10-foot-deep terraces will feature effortless “lift-and-glide” floor-to-ceiling doors and glass balcony railings to take advantage of the stunning views.

The Una tower will also include flow-through residences with east-to-west ocean and city exposures on the top floors and two penthouses with private pools.

Sales are set to commence this month and will be exclusively handled by Fortune Development Sales.

Number of units: 135
Price range: Prices from $900,000 to more than $5 million
Developer/Architect and designer: OKO Group led by real estate magnate Vladislav Doronin, along with partner international real estate investment firm Cain International led by Jonathan Goldstein/Adrian Smith + Gordon Gill Architecture.
Apartment sizes: Two- to five-bedroom units and two penthouses, ranging in size from 1,100 to 4,786 square feet
Amenities: A residents’ private marina for bayside excursions, three pools, a state-of-the-art fitness center with yoga and personal training areas, a spa influenced by the Aman aesthetic with indoor and outdoor private massage rooms overlooking the bay, a dedicated beauty suite for private services, private residents’ dining/party room, cinema, children’s splash pad area and playroom, owner’s lounge and outdoor lounge, and 24-hour concierge.
Website: Unaresidences.com (coming soon)

100 Las Olas, 100 East Las Olas Blvd., Fort Lauderdale

Located on East Las Olas Boulevard and SE 1st Avenue, this condo project by The Kolter Group will feature four distinct floor plans ranging from 1,501 to 2,964 square feet. There is also 8,500 square feet of retail space, fine dining and a Hyatt Centric hotel with 238 guest rooms, elevated private residential amenities and a ground level restaurant/bar with indoor and outdoor seating.

SB Architects designed the sleek steel and glass tower with curved geometric shapes. The interior design firm of Simeone Deary and Palm Beach interior designer Bob Martin designed the interiors. The condominiums will occupy levels 16 to 46.

The energy-efficient, fully finished residences feature contemporary open great rooms, gourmet kitchens and spa-like master retreats with expansive terraces. Owners will be able to choose kitchen and bath finishes from Nolte cabinets and quartz countertops, Jenn-Air Euro stainless steel built-in appliances, and Grohe and Kohler plumbing fixtures. The main living areas have premium large-format porcelain flooring and floor-to-ceiling windows as well as sliding glass doors and terraces with glass railings offering city skyline views.

OneWorld Properties is the exclusive sales and marketing firm for 100 Las Olas. Phase 2 sales launch this spring, with an expected opening in 2020.

Number of units: 121
Price range: $800,000 to more than $2 million, plus higher priced penthouses
Developer/Architect/Designer: Kolter Urban/SB Architects/Bob Martin of The Decorators Unlimited and Simeone Deary
Apartment sizes: Four floor plans ranging from 1,501 to 2,964 square feet; Two- to three-bedroom residences with dens.
Amenities: Resort-style pool, day cabanas, state-of-the-art fitness center, news lounge with daily beverage service, and club room with catering kitchen, bar, formal seating areas, custom audio system and expansive outdoor plaza.
Website: onehundredlasolas.com

OPUS Bay Harbor, 10301 East Bay Harbor Drive, Bay Harbor Islands

Located on the northern tip of Bay Harbor Islands, which are in Biscayne Bay just north of downtown Miami, OPUS Bay Harbor is a boutique eight-story condominium with full-floor residences. All of the units have four bedrooms plus a den, four full bathrooms and one partial bath, with interior square footage ranging from 4,225 to 5,279.

All of the units have wrap-around terraces with an additional terrace off the master bedroom. The apartments will have great sunrise views over the Atlantic Ocean and Biscayne Bay, and sunset views of downtown Miami.

Sales were to launch the first part of this month, with construction to commence during the summer of 2018, and completion by early 2020.

Number of units: 7
Price range: $4.436 million to $6.351 million
Developer/Architect: Congress Group/Bermello Ajamil and Partners Apartment sizes: From 4,225 to 5,279 square feet
Amenities: Private gym, rooftop garden and pool, concierge-attended private lobby, two-car parking inside a secure garage, and docks for residents’ boats.
Website: opusbayharbor.com

La Clara, 1515 South Flagler Drive, Palm Beach

Canadian builder and developer Great Gulf is introducing La Clara, its inaugural residential project in South Florida. Located on Flagler Drive in Palm Beach, this luxury tower will offer 84 residences that range in size from 1,460 square feet to more than 3,000 square feet.

The 25-story tower, with architecture and interiors by Hariri Pontarini Architects, will feature Intracoastal waterway and Atlantic Ocean views.

All of the residences feature deep private balconies facing southeast toward the water.

The soft launch for La Clara sales will begin in the Northeast, and by appointment in Palm Beach between April and September 2018.

Number of units: 84
Price range: $1.2 million to $3.8 million
Developer/Architect and interior designer: Great Gulf/Hariri Pontarini Architects
Apartment sizes: 1,400 square feet to more than 3,000 square feet
Amenities: 24/7 concierge and security desk, valet service, lobby lounge, outdoor swimming pool (ground level), outdoor lounge and dining area (adjacent to swimming pool), resident lounge and party room (with outdoor terrace), private dining room and kitchen, entertainment room/theater, fitness center, yoga studio, outdoor gardens.
Website: laclarapalmbeach.com

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Former Chubb insurance chief nabs condo at Jade Signature in Sunny Isles

March 28, 2018
Former Chubb insurance chief John Finnegan plunked down $7.8 million for a condo at Fortune International Group’s recently completed Jade Signature in Sunny Isles Beach.

Property records show Finnegan bought unit 4701 at the 57-story, 192-unit condo tower at 16901 Collins Avenue.

Finnegan, who lives in Wyckoff, New Jersey, was the chairman of the property and casualty insurer Chubb Corp. until it was acquired by ACE Limited in 2016 for $29.5 billion. Before joining Chubb in 2002, Finnegan was executive vice president of General Motors.

Jade Signature, designed by Herzog & de Meuron, began recording closings earlier this year. Fortune launched sales and construction of the oceanfront development in 2013 and the tower is now nearly sold out. It’s grand opening was held earlier this month.

Buyers include the CEO of UnitedHealth Group in Brazil and Brazilian soccer pro Douglas Costa. Remaining units include two-story sky villas and penthouses asking between $14.2 million to $32.9 million, plus units starting at $4.8 million.

The building also features a beachfront deck with two pools and cabanas; a fitness center, library, wine and reading lounges, and a full-service spa.

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Check Out The Stunning Drone Images Of The Newly Delivered, Herzog & De Meuron-Designed Jade Signature In Sunny Isles Beach

March 23, 2018
Following the grand opening of the iconic, Herzog & de Meuron-designed Jade Signature, Fortune International Group has released new imagery of the revolutionary, eco-conscious tower. Following years of anticipation since its 2013 groundbreaking, Jade Signature’s 192 residences are more than 95% sold and move-ins have begun.

The beauty of the newly completed Jade Signature reflects the top talents of a trio of the industry’s greatest collaborators including world-renowned Swiss architects Herzog & de Meuron, the visionaries behind the Tate Modern in London, 1111 Lincoln Road, and the Peréz Art Museum Miami; celebrated Miami landscape architectural firm Raymond Jungles Inc.; and Parisian interior design firm PYR, led by Pierre Yves-Rochon, who has gained international prestige for elegant interiors in top luxury residences, spas and hotels, including the Four Seasons George V in Paris, and The Savoy in London.

“Ana Cristina and I are thrilled to deliver this monumental building to our buyers, many of whom have eagerly followed the progression of the Jade brand, showing confidence in our vision by purchasing during the pre-construction phase,” said Edgardo Defortuna, President and CEO of Fortune International Group. “When you have this level of support behind you – from the creative team to the brokers and buyers – anything is possible.”

“Now that Jade Signature is complete, it gives us tremendous pride to be able to present the final product to our new homeowners from around the world,” added Ana Cristina Defortuna, Executive Vice President of Fortune International Group. “Jade Signature was a dream – and the result is breathtaking.”

Jade Signature has achieved a new standard of design by utilizing the natural environment in an eco-conscious manner. The tower’s expansive units are marked by flow-through-style floor plans, not only ensuring optimum ventilation, but enabling owners to cool their residences naturally year-round. An influx of sunlight is maximized across the grounds due to the building’s slightly angled position along the beach. A three-story underground parking garage eliminates the need for an unsightly pedestal and subsequently creates a seamless connection between the ground floor and the pool, as well as the deck, gardens, beach and ocean beyond. This unique structural design additionally allows for more landscaping and vegetation around the base of the property.

Resort-style amenities include a stunning beachfront deck with an organic, zero entry free-form swimming pool, secluded cabanas, a heated spa surrounded by nature, and a 25-meter lap pool. Private beach amenities include chaise lounges, umbrellas and an oceanfront restaurant with towel and beach service. Jade Signature also has a full-service spa for residents and guests, complete with a sauna, steam room, hammam, relaxation zone, and treatment rooms. Additional property amenities and services include a state-of-the-art fitness center, library and reading lounge, wine bar, clubroom, entertainment and game lounge, business center, playroom and tech lounge for children and teens, full-service concierge, private elevator entrances, and smart technology throughout.

Although nearly sold out, Jade Signature has a limited assemblage of residences remaining among the tower’s most luxurious units. Known as “The Collection,” the portfolio is a compilation of two-story Sky Villas and penthouses, ranging from $14.2 million to $32.9 million.

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Sky villa in new Sunny Isles Beach condo sells for $13M

March 27, 2018
A “sky villa” condo in the recently completed Jade Signature in Sunny Isles Beach sold for $13.3 million.

Sunny Isles Beach Associates, an affiliate of Miami-based developer Fortune International Group, sold Unit 5101 in the condo at 16901 Collins Ave. to IJ LLC, a Delaware-registered company with an address listed in Greenwich, Connecticut. According to the sales team, the two-story condo has 6,735 square feet of interior space and 1,161 square feet of outdoor living space.

The price for the interior space equated to $1,975 per square foot.

The sky villa features five bedrooms, six bathrooms, two half-bathrooms, a double-sized dining room, a gym, and an entertainment lounge. It has a 22-foot ceiling height and a 180-degree view of the ocean.

Designed by architect Herzog & De Meuron with interiors by Pierre Yves Rochon, Jade Signature has 192 units in 57 stories – tied for the tallest building in Sunny Isles Beach. Amenities at Jade Signature include a pool deck along the beach, a demonstration kitchen, a business center/conference room, a library, a health and wellness center with a sauna and steam room, a cold-pressed juice bar, massage rooms, a yoga deck, a fitness center, and spin and pilates studios.

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Fortune celebrates Jade Signature’s opening in Sunny Isles Beach

March 27, 2018
Fortune International Group celebrated the grand opening of Jade Signature with lavish hors d’oeuvres and dinner bars, a Japanese drum show, fireworks and a performance by Yoli Mayor of “America’s Got Talent.”

Edgardo and Ana Cristina Defortuna hosted more than 500 guests earlier this month at the luxury condo tower in Sunny Isles Beach. The Defortunas were joined by interior designer Pierre-Yves Rochon, Herzog & de Meuron partner Jason Frantzen, landscape architect Raymond Jungles, Carlos Mattos and others at the event on Friday, March 16.

The beachfront development, at 16901 Collins Avenue, began recording closings earlier this year. The 57-story, 192-unit tower was designed by Herzog & de Meuron with interiors by Rochon. Fortune launched sales and construction in 2013 and the tower is now nearly sold out. Buyers include the CEO of UnitedHealth Group in Brazil and Brazilian soccer pro Douglas Costa.

Remaining units include two-story sky villas and penthouses asking between $14.2 million to $32.9 million, plus units starting at $4.8 million.

The building also features a beachfront deck with two pools and cabanas; a fitness center, library, wine and reading lounges, and a full-service spa.

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Missoni Baia Kicks Off Miami Open With Exclusive Talk With Tennis Star Monica Puig

March 26, 2018
As part of its ongoing Missoni Baia panel series featuring insightful lectures and guest speakers, OKO Group kicked off the Miami Open with an exclusive discussion at the Missoni Baia sales gallery with Puerto Rican professional tennis player and reigning Olympic champion Monica Puig. The talk was moderated by Robert Gomez, a longtime junior’s tennis coach and director at Biltmore and Salvadore Park Tennis Centers, and focused on the benefits of living in Miami for those seeking a healthy and active lifestyle.

Local influencers, members of the media and real estate brokers alike enjoyed a cocktail reception amid a stunning Biscayne Bay backdrop, as they received personal insight from Puig on her rigorous training regimen. At the end of the evening, Puig surprised the crowd by revealing her gold medal, won for Puerto Rico at the 2016 Rio Olympics.

Well-received by athletes for promoting a healthy and active lifestyle, Missoni Baia recently announced an athlete buyer, World Cup soccer professional Miguel Borja. Borja who plays forward for the Brazilian club Sociedade Esportiva Palmeiras and is the fourth highest paid soccer player in Brazil, was crowned South America’s “Footballer of the Year” in 2016. In June, he will play for the Colombian national team at the upcoming FIFA World Cup in Russia.

When completed, Missoni Baia will feature an elevated tennis court and a wide range of health and wellness-focused amenities, including a 1,700-square-foot gym with 180 degrees Bay views, private training and yoga rooms, and Olympic-length lap pool.

Fortune Development Sales is the sales and marketing agent for Missoni Baia. For additional information on availability or to schedule an appointment, please contact the sales office at +1 305 800 7000 or visit missonibaia.com

ABOUT OKO GROUP

OKO Group is an international real estate development firm established by Chairman and CEO, Vladislav Doronin. OKO Group builds on the formidable expertise of Mr. Doronin, one of the most successful and respected international developers, and his peerless track record in constructing more than 75 million square feet of world-class commercial, retail and luxury residential space over a total of 71 buildings as Founder of Capital Group.

OKO Group brings not only considerable financial strength to the U.S. market, but also a passion for working with the very best architects and designers in the world, including Pritzker Prize–winning architect Zaha Hadid, the preeminent architecture firm Skidmore, Owings & Merrill, known for designing some of the world’s tallest towers, visionary Hani Rashid of Asymptote Architecture, acclaimed interior designer Iosa Ghini Associati, and the legendary designer Jacques Grange. OKO Group’s current U.S. portfolio includes prime properties and development projects in Miami and New York City. As owner and Chairman of Aman, one of the most admired hospitality brands in the world, Mr. Doronin’s global business portfolio spans across Europe, Asia and the U.S. More information about OKO Group is available at okogroup.com

ABOUT EDGEWATER MIAMI

Edgewater is a residential enclave nestled between Downtown Miami and the dynamic Design District and Wynwood Arts District. Edgewater offers close proximity to the artisanal shops and restaurants of Midtown Miami, the Adrienne Arsht Center for the Performing Arts, American Airlines Arena and Downtown Miami’s architectural landmarks, including the celebrated Pe?rez Art Museum Miami. It also offers easy access to Miami International Airport, which recently completed a $3 billion expansion. Missoni Baia’s advanced design will bring a new level of sophistication to one of Miami’s most increasingly desirable waterfront neighborhoods.

ABOUT MISSONI

Missoni is one of the leading and most distinctive fashion houses in the world. The Missoni style has evolved out of a long-standing collaboration between the husband and wife team of Ottavio and Rosita Missoni. Ottavio Missoni came to London in 1948 for the London Olympics, where he qualified for the final 400m hurdle race. While in London he met Rosita Jelmini, the granddaughter of a family of manufacturers from Golasecca, in Northern Italy. After marrying in 1953 they began making items of knitwear in a small workshop in the basement of their first home in Gallarate. Ottavio and Rosita’s path has been followed by their children and grandchildren, who today continue to keep alive the spirit of the Missoni style all over the world. Angela Missoni has been the creative director of the company since 1997 and is committed to infusing the family’s brand with new energy, confidently communicating trends and ideas. Under her direction, Missoni’s runway shows and communication continually make an authoritative, international statement. Luca Missoni, brother of Angela, is the Artistic Director of the Missoni Archive which he is developing into a project to promote and valorize the Company’s artistic and fashion heritage. More information about Missoni is available at missoni.com.

ABOUT ASYMPTOTE ARCHITECTURE

Asymptote Architecture, a partnership between Hani Rashid and Lise Anne Couture, has in recent years embarked on a number of ambitious and challenging projects around the globe. In each case the focus has been on creating exciting and compelling architectural works with an attention to advances in both the thinking and conceptualizing of new spatial, formal and technological possibilities. Recent works include two new projects for Moscow, a new Hermitage Museum for contemporary and modern art, and a new 150m tower being built on the ZIL property in central Moscow. Alongside these projects other notable works by Rashid and Couture include the Yas Marina Hotel on Abu Dhabi and the ARC Multimedia Museum in Daegu South Korea. Asymptote Architecture has offices in New York City and Vienna Austria.

Hani Rashid was endorsed by Mr. Doronin’s friend, the Pritzker Prize–winning architect Dame Zaha Hadid, when OKO Group was looking for an architect to work with for Missoni Baia.

More information about Asymptote Architecture is available at www.asymptote.net.

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La tenista Monica Puig invitada especial de Missoni Baia

March 26, 2018
El pasado 15 de Marzo, Missoni Baia invitó a Monica Puig para hablar de Miami, una próspera ciudad que ofrece un estilo de vida activo y saludable.

En un ambiente sereno y relajado, Monica se presentó amable y sonriente en la casa de ventas de Missoni Baia para hablar de sus entrenamientos y de su alimentación para el torneo Miami Open 2018.

En ésta ocasión el Moderador fue Robert Gómez entrenador de tenis del hotel Biltmore en Coral Gables y director de Salvadore Park Tennis Centers, quien ha dedicado gran parte de su carrera a promover el desarrollo y entrenamiento de jóvenes tenistas en el estado de Florida, entre ellos, Monica Puig quien fue su alumna desde los 14 años.

Monica, nació en Puerto Rico en 1993, comenzó a jugar tenis a la edad de 6 años, convirtiéndose en profesional en 2011 a los 18 años. A finales de 2017 obtuvo el rango final en el WTA Tour con el número 58.

Uno de sus mayores logros fue ganar medalla de oro en los Juegos Olímpicos del 2016 en Río de Janeiro. Monica asistió orgullosa al panel para mostrar su medalla y hablar de su histórica victoria donde se ganó los corazones de millones en todo el mundo. Su victoria en Río también la convirtió en la primer jugadora ganadora de la medalla de oro siendo la más jóven en el tenis femenino en la historia de los Juegos Olímpicos. Otro logro importante fue obtener la medalla de oro en los juegos centramericanos 2010 y 2014, la medalla de plata en los juegos panamericanos de 2011, y la medalla de bronce en los juegos panamericanos 2015 en Toronto.

También hablo de su fundación para ayudar a sus compatriotas en Puerto Rico. Después del huracán Irma comenzó su sitio “youCaring”,  el 100% de las donaciones se destinan a la reconstrucción de Puerto Rico. www.youcaring.com

Monica vive en Miami, Florida con su perro, Rio.

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Tim Arnold Appointed General Manager of Soon-to-Open Auberge Beach Residences & Spa Fort Lauderdale

March 25, 2018
Auberge Resorts Collection, owner and operator of award-winning small luxury resorts, residences and clubs,  has named Tim Arnold as General Manager of Auberge Beach Residences & Spa Fort Lauderdale. Drawing on more than a decade of experience in hospitality operations, Arnold will apply his expertise to deliver a full suite of lifestyle enhancing amenities and services to the new ultra-luxury beachfront condominium development. Anticipated to be the most refined high-rise and only on-the-sand luxury residential offering in Fort Lauderdale, Auberge Beach Residences & Spa will be home to 171 residences across two light-filled glass towers with a resort-like ambience and an unmatched level of casual sophistication.

“Tim’s exemplary background in hospitality management will prove invaluable to the unprecedented level of service that Auberge Beach Residences and Spa will provide its residents,” said Craig Reid, President and Chief Executive Officer of Auberge Resorts Collection. “Auberge Beach Residences will elevate the destination with its first-in-class extraordinary residential offerings and preeminent location, redefining the luxury real estate market in Fort Lauderdale.”

Committed to providing a customized, five-star experience, Arnold will lead all operations, including launching and maintaining the bespoke suite of amenities on property. Auberge Beach Residences & Spa will offer residents unique dining experiences created by highly skilled chefs, poolside cabanas and chaise lounges on the sand with stylish service, holistic treatments and signature therapies that utilize custom-blended Auberge products, a wine tasting salon featuring Auberge’s best Napa Valley selections, the first aboutGolf simulator of its kind in the State of Florida, along with a cigar lounge, state-of-the-art fitness center, club room, entertainment room, library and private business center.

Having worked in cosmopolitan cities such as New York, Miami and Chicago, Arnold excels in providing luxurious lifestyle experiences for residents. “Not only does Auberge Beach Residences and Spa bring the ultimate in luxury living to Fort Lauderdale’s most extraordinary beachfront property, but its exquisite service and modern amenities offer unique and memorable experiences to residents and guests,” said Arnold. “I look forward to representing Auberge Resorts Collection’s commitment to excellence and am thrilled to be part of the Auberge family.”

Arnold joins Auberge Beach Residences from El San Juan Hotel, a landmark hotel in the Isla Verde district of Puerto Rico, where he served as the Managing Director of Food & Beverage. Previously, Arnold managed all aspects of food and beverage operations at the American Airlines Arena in Miami. Earlier in his career, he served as Regional Director of Operations at China Grill Management, where he was responsible for all China Grill and Mondrian Hotel operations. He also served as Hotel Director at Canyon Ranch and Vice President at HEI Resorts and Hotels.

Developed by Related Group, Fortune International and Fairwinds Group, Auberge Beach Residences & Spa is setting a new standard for luxury living in Fort Lauderdale. In 2017, Auberge Beach Residences continued to set new price records in Broward County with a $9.5 million sale of the final residence within the penthouse collection. Currently, the property is 97% sold in the North Tower and 70% sold in the South Tower. Pricing ranges from $1,900,000 to $8,000,000.  The building is expected to welcome its first residents in Spring 2018.

For more information, visit: www.aubergebeach.com.

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Monica Puig at Missoni Baia event

March 23, 2018
Puerto Rican professional tennis player and reigning Olympic champion Monica Puig was at the Missoni Baia sales gallery recently, a new residential development in Miami featuring an array of health and wellness-focused amenities. She was giving an exclusive talk last week to guests on the benefits of living in Miami for those seeking a healthy and active lifestyle. At the end of the evening, Puig surprised the crowd by revealing the gold medal she won for Puerto Rico at the 2016 Rio Olympics.

View the full gallery here.

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Jade Signature Makes Its Debut With A Grand Opening Party In Sunny Isles Beach

March 23, 2018
Sunny Isles Beach‘s newest luxe resident—Jade Signature—has officially opened its doors, with an extravagant grand opening party to commemorate the monumental event. Over 500 guests enjoyed the evening, which included a performance by Yoli Mayor, a taiko drum show, a 25-person orchestra and an electrifying fireworks display, cascading over the Atlantic Ocean.

Three of the industry’s biggest players collaborated on this exquisite project, along with Fortune International Group, led by Edgardo and Ana Cristina Defortuna: Herzon & de Meuron—the Swiss architects who are globally recognized for the Tate Modern in London, 1111 Lincoln Road and the Perez Art Museum Miami (PAMM); Raymond Jungles Inc.—a landscape architectural firm based in Miami; and PYR—a Paris-based, interior design firm led by Pierre Yves-Rochon, responsible for world-renowned projects including the Savoy in London, the Four Seasons George V in Paris and the current renovation of the Waldorf Astoria in New York.

Several significant figures were in attendance for the event, including Edgardo and Ana Cristina Defortuna; Pierre-Yves Rochon from Paris; Jason Franzen—a partner of Herzog & de Meuronfrom Basel; Raymond Jungles; Vice Mayor of City of Sunny Isles Beach Dana Goldman; Sunny Isles Beach Commissioners Larisa Svechin and Jeanette Gatto; Chief Financial Officer of OKO Group, Fran Scola; President and CEO of the Fairwinds Group Andy Mitchell; Managing Director of Multiplan Real Estate Asset Management Marcelo Kingston; and business executive Carlos Mattos.

“Ana Cristina and I are thrilled to deliver this monumental building to our buyers, many of whom have eagerly followed the progression of the Jade brand, showing confidence in our vision by purchasing during the pre-construction phase,” began Edgardo Defortuna, President and CEO of Fortune International Group. “When you have this level of support behind you – from the creative team to the brokers and buyers – anything is possible.”

Jade Signature has masterfully married the highest standard of excellence, in terms of innovation and design, with the gorgeous, natural environment that Sunny Isles Beach provides, in an eco-conscious fashion. For instance, each of its units has a “flow-through-style floor plan” to ensure the best ventilation and allowing residents to reach an optimum, cool temperature naturally—without the use of an air conditioning unit— throughout the year. The building’s angular position and structural design also maximizes the amount of natural sunlight that beams through its grounds and allows for gorgeous landscaping and vegetation, while an underground parking garage with three stories—some 40 feet below sea level—is both discreet and functional.

Almost all of Jade Signature’s 192 residences are sold (95%, to be exact), which is not only a testament to its gorgeous architectural design, but also to the Defortunas, who are responsible for building some of Miami’s most iconic residential buildings over the past 30 years. The units that remain include three-to-five-bedroom residences, beginning at around 3,300 square feet and $4.8 million, as well as some of the building’s most luxurious offerings as part of “The Collection,” which includes two-story Sky Villas and penthouses, ranging from $14.2 to $32.9 million.

“Now that Jade Signature is complete, it gives us tremendous pride to be able to present the final product to our new homeowners from around the world,” noted Ana Cristina Defortuna, Executive Vice President of Fortune International Group. “Jade Signature was a dream – and the result is breathtaking.”

The high-end, resort-style building amenities include a beachfront deck, “an organic, zero entry free-form swimming pool, secluded cabanas, a heated spa surrounded by nature…a 25-meter lap pool,” a full-service spa (both for residents and guests) with a sauna, steam room, hammam, relaxation zone and treatment rooms, as well as a fitness center, library, reading lounge, wine bar, clubroom, entertainment and game lounge, business center, playroom, tech lounge, full-service concierge, smart technology and private elevator entrances. Residents also have private beach access, with amenities such as chaise lounge chairs, umbrellas, an oceanfront restaurant and towel service.

For more information, please visit the Jade Signature website.

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52-Story Ritz Carlton Residences Sunny Isles Passes Halfway Mark, Selling One Unit Per Week

March 22, 2018
Construction progress at The Ritz-Carlton Residences, Sunny Isles Beach has passed the halfway mark, with level 28 of 52 now poured.

In total, seven units worth $24 million were sold in a recent 45 day span, an average of one unit per week.

THE RITZ-CARLTON RESIDENCES, SUNNY ISLES BEACH IS MORE THAN HALFWAY COMPLETE AFTER SURPASSING PIVOTAL BENCHMARK

Construction of the landmark luxury project has extended past the 28th floor,

with the tower’s completion anticipated for 2019

SUNNY ISLES BEACH, FL – The skyline of Sunny Isles Beach continues to transform with the ongoing rise of The Ritz-Carlton Residences, Sunny Isles Beach. Construction of the ultra-high-end oceanfront tower has surpassed the midway milestone point, signifying that the building is on-schedule for next year’s projected delivery date.

The tower, which is the first building north of Bal Harbour, is now up to 28 of 52 full stories, with a majority of glass cladding securely in place. Adding to the momentum, the property’s joint developers, Fortune International Group and Château Group, have reported a recent string of back-to-back sales: Seven units totaling $24 million went under contract over the course of a 45-day period — an average of roughly one sale per week.

Featuring 250 feet of pristine beachfront with no hotel on the premises, The Residences is considered to be one of the most highly anticipated projects to enter South Florida’s prime property market, and a transformative addition to the immediate area’s flourishing luxury sector.

In conjunction with announcing news about the tower’s rise and subsequent success, the developers unveiled fresh aerial footage of the building, illustrating its ascent past the halfway mark. The signature curvilinear silhouette of The Ritz-Carlton Residences, Sunny Isles Beach, crafted by Arquitectonica, has clearly taken shape – a design inspired by the tower’s prime location overlooking the Atlantic Ocean and Intracoastal Waterway, as well as the rolling dunes of the adjacent beach. Airy and sunlit interiors by acclaimed Florentine architect Michele Bönan will complement the unique exterior, blending the spirit of modern day Miami with its rich architectural past.

“This is a celebratory moment for our team,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We are just steps closer toward delivering this spectacular offering to our buyers worldwide who are excited to call these stunning oceanfront residences their home.”

“We expect that this tower will elevate the standard for luxury real estate,” said Manuel Grosskopf, CEO of Château Group. “We have utilized the most innovative technology and craftsman-style techniques to create a product that is truly distinct – one that will ultimately be an icon on the coastline.”

Comprising 212 residences, The Ritz-Carlton Residences, Sunny Isles Beach will have a private club level on the 33rd floor, beach restaurant, pool deck, kids club, spa, fitness center and wellness center, among other top-line amenities. Residences start at $2.6 million, with penthouses offered upwards of $25 million. Additional highlights in each residence will include walk-in closets, laundry rooms with full-size washers and dryers, smart home technology and pre-wiring for high-speed internet access and Wi-Fi. Penthouses will feature lush garden terraces spanning 2,000 sq. ft. – 4,000 sq. ft., private pools and summer kitchens, custom-designed Italian cabinetry and well-appointed master suites with separate service quarters.

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Exterior Of Newly Complete 649-Foot Jade Signature In Sunny Isles Beach

March 22, 2018
The 57-story Jade Signature in Sunny Isles Beach took nearly five years to build (groundbreaking took place in July 2013).

Here is a first look at the exterior of the building, designed by Pritzker Prize-winning architect Herzog & de Meuron.

Click here to view the gallery on The Next Miami.

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The Ritz-Carlton Residences, Sunny Isles Beach Passes Halfway Point With Expected Completion 2019

March 22, 2018
Construction of The Ritz-Carlton Residences, Sunny Isles Beach is flying right along as construction teams have passed the halfway point, 28th floor of 52 stories. The ultra-high-end oceanfront tower is on-schedule for next year’s projected delivery date (2019). Co-developers Fortune International Group and Château Group have reported a recent string of sales of  seven units totaling $24 million going under contract over the course of a 45-day period, an average of roughly one sale per week.

“This is a celebratory moment for our team,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We are just steps closer toward delivering this spectacular offering to our buyers worldwide who are excited to call these stunning oceanfront residences their home.”

“We expect that this tower will elevate the standard for luxury real estate,” said Manuel Grosskopf, CEO of Château Group. “We have utilized the most innovative technology and craftsman-style techniques to create a product that is truly distinct – one that will ultimately be an icon on the coastline.”

The Ritz-Carlton Residences, Sunny Isles Beach will rise 52-stories and feature 212 residential condo units. The tower, with its signature curvilinear silhouette, is designed by Arquitectonica, while interiors, inspired by South Beach’s 1960s heyday, have been crafted by acclaimed Florentine architect Michele Bönan. Residences range from $2.6 million to $5.2 million, with penthouses offered upwards of $25 million. Amenities include a private club level on the 33rd floor, beach restaurant, pool deck, kids club, spa, fitness center and wellness center, among other top-line amenities. Construction has completed their foundation pour and has begun vertical rise. The building is slated for delivery in 2019.

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Ritz-Carlton Residences Sunny Isles Beach, La Próxima Insignia Arquitectónica De Miami

March 22, 2018
Ubicada en el corazón de la magnífica Sunny Isles Beach, The Ritz-Carlton Residences, Sunny Isles Beach, se elevará entre el prestigioso Bal Harbor Shops y el fabuloso Aventura Mall, en una imponente torre de 52 pisos dispuesta directamente frente a la playa. Un lugar donde el lujo sin precedentes, y un espléndido diseño y arquitectura, se complementarán con un escenario que acercará a sus propietarios a toda la emoción, la cultura y la belleza del Sur de la Florida.

El proyecto llega de la mano de Château Group y Fortune International Group, grandes líderes en el desarrollo de bienes raíces de lujo en la región. Una vez terminada su construcción en el 2019, The Ritz-Carlton Hotel Co. administrará la propiedad, brindándole a los residentes el servicio, la calidad y el toque personal ya legendarios y sinónimos de esta célebre marca.

“Este proyecto marcará un hito en la construcción en Sunny Isles Beach. Estamos hablando de una magnífica torre de 649 pies (197.8 metros) construida directamente en un frente de playa de 250 pies (76 m), en una propiedad de 2.2 acres”, comenta Edgardo Defortuna, presidente y fundador de Fortune International Group. “Contamos con un diseño espectacular, con exuberantes jardines diseñados por Arquitectonica GEO. Tan sólo el impresionante lobby de doble altura con un panel de cristal de cuatro pisos, con vista a la piscina y a la playa, es en sí una obra de arte”.

Ritz-Carlton Residences, Sunny Isles Beach, contará con 212 residencias desde los 1,605 pies2 a 3,640 pies2 (149 m2 -338 m2), y penthouses de hasta 6,320 pies2 (587 m2), con interiores creación del reconocido diseñador Michele Bönan. Los espaciosos pisos con envidiables vistas al océano, la ciudad y la autopista Intracoastal, tendrán techos de 10 pies de altura (3.5 metros), que en los penthouses ascenderán a más de 13 pies (4.6 metros). Las cocinas diseñadas poseen gabinetes italianos, mesadas de piedra, electrodomésticos europeos, cava de vinos y cafetera gourmet para capuchino, entre otros elementos. Todos los apartamentos tienen acceso a Wi-Fi de alta velocidad y poseen amplísimas terrazas, con piscinas privadas en residencias selectas.

Además de comodidades como el acceso directo a la playa, con sombrillas y camastros, restaurante con servicio a la piscina y a la playa, club para niños con instalaciones de juegos bajo techo y al aire libre y un moderno gimnasio frente al océano, también nos destacamos por nuestro Club Privado”, comenta Manuel Grosskopf, presidente de Château Group. “El club ubicado en el piso 33, goza de interminables vistas en todas las direcciones, además de sala de medios, lounge, dos áreas de bar, área de comida privada con cocina de alimentos preparados, centro de negocios y biblioteca”.

Entre los servicios de primera que podrán aprovechar los residentes de esta lujosa propiedad, a cargo de The Ritz-Carlton Hotel Co., habrá valet parking, conserjería y lobby atendido las 24 horas los 7 días de la semana; servicios de limpieza y lavandería; limusina y chofer; cocinero personal; paseo de perros; alquiler de botes y yates; mensajería; niñera y cuidado de niños; servicio de entrenamiento físico personal; compra de alimentos; programa para propietarios ausentes; reservas en líneas aéreas y aviones privados; reservas en restaurantes y centros de diversión nocturna; reservas en spas y salones de belleza, reservas en teatros y centros de diversión; reservas de campos de golf; pedidos de arreglos florales; mantenimiento de plantas; servicio de entrega al día siguiente; entrega de periódicos, entrega y envío de paquetes por correo; servicios secretariales y de notario público; gestiones para la celebración de actividades; información para hacer compras; reservas de hoteles; servicios de despertador; preparaciones y compras previas a la llegada; planificación de funciones y eventos; gestiones para el alquiler de equipos; lavandería y tintorería; servicios de costura y retoques de prendas de vestir; servicios técnicos; y comidas y catering en las residencias.

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Inside Jade Signature’s Grand Opening Soirée

March 22, 2018
More than 500 attendees from across the globe, notable in real estate, design, architecture, the arts, etc., converged in Sunny Isles Beach to commemorate the highly-anticipated opening of Miami’s most architecturally extraordinary oceanfront address: Jade Signature. Developed by Fortune International Group and created by Herzog & de Meuron, hundreds were in attendance to celebrate the official opening of the tower, which has been a hot-spot for luxury buyers worldwide

The celebration, which took place Friday, March 16, treated guest to an array of festivities, including a performance by Yoli Mayor of “America’s Got Talent” fame, 25-person orchestra, booming taiko drummers, and a heart-pounding fireworks show over the Atlantic Ocean.

VIPs in attendance included developers Edgardo and Ana Cristina Defortuna; interior designer Pierre-Yves Rochon from Paris, France; Jason Frantzen, partner with Herzog & de Meuron from Basel, Switzerland; Miami-based landscape architect Raymond Jungles; City of Sunny Isles Beach Vice Mayor Dana Goldman; Sunny Isles Beach Commissioner Larisa Svechin; Sunny Isles Beach Commissioner Jeanette Gatto; business executive Carlos Mattos; Fran Scola, Chief Financial Officer of OKO Group; Andy Mitchell, President and CEO of The Fairwinds Group; and Marcelo Kingston, Managing Director of Multiplan Real Estate Asset Management.

“Being surrounded by our collaborators, colleagues, clients, family and friends for this long-awaited celebration was an amazing honor,” said Edgardo Defortuna.  “We have worked tirelessly to bring this property to the market.  Seeing Jade Signature completed — along with the tremendous praise by our buyers — gives me an enormous sense of pride.”

Jade Signature was developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, designed by the Pritzker-Prize winning architecture firm Herzog & de Meuron, in collaboration with Parisian interior designer Pierre-Yves Rochon (PYR) and landscape architect Raymond Jungles, and financing provided by HSBC. Sales and construction began in 2013. 95%+ of the 192 residences have been purchased by an array of buyers spanning the U.S., Latin America and Europe.

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Panorama Tower Soars Over Miami as Florida’s Tallest Building

March 22, 2018
Miami’s new Panorama Tower developed by Florida East Coast Realty is shaping up to be the tallest structure in Florida and the tallest residential building south of New York.

The building, which is 868 feet and 85 stories tall, houses 821 luxury rental apartments, a Hyatt Centric boutique hotel, retail tenants and office spaces. Jerry Hollo, executive vice president of Florida East Coast Realty, says the tower was designed to house an assortment of amenities so residents would have access to everything they need inside the building.

“We like to say we want to make the project addictive to the people who live there, meaning we want them to want to be there as much as possible,” says Hollo. “If they want to have an office downstairs, they can have an office downstairs and be able to go right back up to their apartment. If they want to go down and have something to eat, we have restaurants and cafés there.”

Amenities available to Panorama Tower residents include a children’s playroom, soundproof music studio, pet spa and hotel, social lounges, private dining, wine rooms and a high tech distribution antenna system meant to boost cellular signals. Residents also have access to three cinemas—two are traditionally built with stadium seating while one is casually designed. Hollo says the casual cinema includes a bar, making it ideal for hosting parties, watching games and screening television premieres.

He adds that the building features fitness and spa amenities, as well as breakout rooms for yoga, Pilates and other classes. Fitness classes will be available during peak hours, but residents can utilize on-demand video classes during off-hours.

The residence also boasts three pools: An active swim area, a passive pool and a children’s splash area. Casual dining and bar service will be available on the pool deck, but residents don’t have to travel to the deck to enjoy sweeping views of Biscayne Bay.

“We were trying to design something that took the most benefit of its location and the views,” Hollo notes. “Because of the way the shoreline just south of us sort of turns to the west, we think about 80 to 85% of our units will have some water views, with most of them having direct water views.”

In addition to its proximity to Biscayne Bay, Panorama Tower is also located close to the new Brickell City Centre. Hollo says the neighborhood puts residents within walking distance of a variety of restaurants and shopping opportunities, and public transportation is easily accessible for destinations located further away. For residents who want to dine closer to home, there are restaurants located on the building’s ground floor and an upscale restaurant boasting city views on the tower’s 52 floor.

“It’s a very dynamic area to live in,” Hollo says. “It affords people the ability to access cultural, sporting, restaurant and retail opportunities without having to jump in a car. And we believe that you wouldn’t even have to leave our project because we offer all the amenities and all the abilities to live, work and play within our development.”

In addition to the accessibility, Hollo adds that the spacious living units and the overall condominium experience make this rental development unique.

“We feel that people want to live in a more spacious unit, and we’ve created that for those people,” he says. “We’ve designed these units to be more like a condominium. We have very spacious bedrooms [and] very spacious living areas.”

The building is slated to open April 2.

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Mónica Puig: “Quiero conquistar el oro en los Centroamericanos”

March 20, 2018
La tenista puertorriqueña, campeona de los Juegos Olímpicos de Río de Janeiro 2016, habla en Deportes W sobre las olimpiadas, el Miami Open y sus metas para el 2018.

Haga clic aquí para escuchar la entrevista.

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New projects adorn Biscayne Bay at Edgewater

March 20, 2018
New projects adorn Biscayne Bay at Edgewater. As six developments take a step toward completion, some locals wonder when more goods and services will also follow the real estate boom into the area.

Jaret Turkell understands the growing appeal with the area. Mr. Turkell, the managing director at Holliday Fenoglio Fowler, said, “Location-wise it’s closest to some of the hottest neighborhoods in Miami. Point two is the sweeping wide bay views.”

Current developments include:

νThe recently completed 2500 Biscayne, by 2500 Biscayne Property LLC, offers 166 units for rent. The building features 19 floors, 271 parking spaces, and a preserved ground floor retail component constructed during the 1920s. The retail portion once connected to the Wolpert Apartments. Iris Escarra, shareholder and co-chair of the Land Development Group of Greenberg Traurig, said, “It’s in the process right now of filling in. They got their certificate of occupancy so they’re now moving in the tenants.”

νAria on the Bay at 1770 N Bayshore Dr. is to begin closings in the next 30 to 45 days. Nicolás Bárbara, the sales director for the condo at Cervera Real Estate, says 90% of the 648 units are sold, including four commercial spaces. Regular units range from 813 to 2,362 square feet. Developer Melo Group hopes to sell the remaining 70 units this year. Price tags dip as low as $400,000 for one bedrooms and rise to $1.8 million for three bedrooms.

νLuxury condo Elysee at 788 NE 23rd St. offers 100 units, 50 of which are sold. Two Roads Development plans to complete the project in 2019. The three- to five-bedroom units spread across 57 floors, start at $1.5 million.

νMill Creek Residential expects to complete its market-rate rental building by December. Ryan Bailine, shareholder at Greenberg Traurig, said, “Mill Creek and their partners saw the opportunity to get in at the ground level in one of the many emerging neighborhoods in Miami and Edgewater provided an attractive opportunity.”

νModera Edgewater 25, currently undergoing construction at 455 NE 24th St., offers 297 units spread across eight stories accompanied by a 417-vehicle garage.

νDevelopers for Missoni Baia at 777 NE 26th Terr. expect to complete construction by fall 2020. Developers OKO Group LLC, OB Group, and Cain International plan to include 249 units of one to four bedrooms at prices ranging from $550,000 to $3.5 million. Condo units vary from 1,100 to over 3,000 square feet at $650 per square foot. Workers broke ground in October and now the project moves skyward. Edgardo Defortuna, president and CEO of Fortune International Group, said: “We’ve very happy with the sales process and construction progress.”

νParaiso District features several luxury condo buildings, Paraiso Bayviews, Paraiso Bay, One Paraiso and Gran Paraiso, and Paraiso Bay Homes, eight townhomes at 600 NE 31st St. Paraiso Bayviews offers 345 units, 13 of which are still on the market. Paraiso Bay consists of 317 units, all sold. One Paraiso sold the remaining 276 units within the past 45 days. Gran Paraiso offers 317 units with fewer than 30 remaining. Listing prices range from $600,000 for a one-bedroom with a den to a unit with four bedrooms at $1.6 million.

One of the eight townhomes of Paraiso Bay Homes remains available. The homes face the water, Michael Schwartz’s Amara restaurant, and a soon-to-debut public park. The park will replace the current sales office on site.

Carlos Rosso, president of the condo division at Related Group, said, “It gives that sort of neighborhood scale.”

Chef and owner of Amara Mr. Schwartz sees reservations climbing and remaining steady. At one point, his restaurant seated 400 per night, spacing out reservations every 15 to 20 minutes so as to not overwhelm his staff. He said, “Business has been great. As the word starts to get out that this exists and when residents move in, we expect it to just be busier and busier.”

Newly completed projects experience continued interest. Karen Elmir, CEO of Elmir Group with Cervera Real Estate, sees such attention at Biscayne Beach Residences. The condo building sits at 2900 NE Seventh Ave. All the resale units range from $400,000 for a one-bedroom to $2.5 million for four bedrooms; the two penthouses, providing two floors, a private elevator and a pool, sell for $9.4 million and $10.5 million for over 10,000 square feet.

She says one big draw is the location central to the trendier neighborhoods and the access to the MacArthur Causeway.

Despite an injection of new real estate projects, neighborhood attention often shifts to the lack of goods and services.

One proposed addition includes a bayfront walkway. Mr. Rosso continues to push for such a vision with the Biscayne Line project, spanning Northeast 36th Street to Museum Park.

Mr. Rosso said, “There’s a misconception that private access to the water makes it more valuable. But when you go to places like Central Park or Ipanema in Rio de Janeiro what makes it more valuable is that people are walking in front of the buildings, look back, and say, ‘Wow, I wish I could live here.’”

Commissioner Ken Russell supports the plan. In a statement, Mr. Russell wrote: “I sponsored an ordinance that would allow the city to obtain an easement and construct the Baywalk in advance of any redevelopment on these properties, and to obtain a reimbursement from the property owner when the land is redeveloped in the future.” The city commission didn’t approve his offering, but Mr. Russell said he hopes to propose more legislation on the matter.

Besides a Baywalk, Madeleine Romanello, broker associate at Compass, says the area also needs large workspaces, another supermarket and a public school that can sustain the area’s current growth.

President of Biscayne Neighborhoods Association Andres Althabe agrees that a public school is critical to maintaining the influx of growth. “We have been in conversation with the school board trying to open other options for public schools that are not just charter,” he said. Some money is promised for a new site, he said, but the process is not moving fast enough. “I know people who are moving to other neighborhoods like Coral Gables because of schools. To keep this real estate cycle going, we have to give them school options.”

One small step might make a difference. Alicia Cervera, managing partner at Cervera Real Estate, said, “The east Edgewater neighborhood is transforming hugely from what was a single-family home neighborhood to a high-rise vertical community with very high-end residences. That has to be supported by good zoning guidelines and enforcement of ordinances that allow for clean, healthy living.”

Maintaining the area’s large population of ducks may be one place to start, Ms. Cervera said. “This is a neighborhood filled with ducks, which can be turned into something positive. As Coconut Grove has the peacocks, maybe there needs to be a duck patrol.”

Other needs and services are waiting to be met, such as a local library. Director of the Miami-Dade Public Library system Ray Baker said, “I wouldn’t say we have the budget to have a library in every growing neighborhood of the entire county. Any opportunities where a developer or someone is offering very low-cost space or even free space is something that would help us along in terms of being able to start planning a new service point.”

Taylor Collins, managing partner at Two Roads Development, remains hopeful. “What’s funny about real estate development is commercial always follows residential,” he said. “If you want new commercial, the residential has to go in, then the restaurants and stuff like that.”

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Plotting the future of Miami’s skyline

March 20, 2018

With more than four years’ supply of luxury condos for sale, it’s plain to most people in the real estate community that the market does not need any more condo projects. Developers have no choice but to hope their existing projects inch closer to selling out while they toil away on plans designed for a better market in the future. Many are now plotting the next batch of supertall towers to grace Miami’s skyline by hiring top architects and attorneys, surveying industry leaders on their plans and assembling their sales and marketing teams, insiders told The Real Deal. They just have to wait out the cycle’s end before they launch.

In one example, Carlos Ott — a Uruguayan architect who worked on Echo Brickell, Jade Beach and Jade Ocean — has been hired along with Miami-based Sieger Suarez Architects to design a luxury condo tower at 300 Biscayne Boulevard, Property Markets Group (PMG) principal Ryan Shear said.

The skyscraper, designed as a stack of glass cubes, would be the tallest in Miami at 1,049 feet, renderings show. Plans for the property, which the company acquired for $80 million in 2014, include a 94-story condominium with 640 units and a luxury hotel with a wellness-focused spa. 

The project could be ready to launch in as little as two months, according to Shear — but that’s not happening. “We need a good cycle to launch projects like that. The worst thing in my opinion you could do is try to swim upstream,” Shear said, adding that he expects developers to start launching new developments again by 2019 or 2020.

The development is one of many scattered throughout Miami that won’t make it in this real estate cycle, but is poised to change the city’s landscape during the next one.

Another such project is The Towers by Foster + Partners, a pair of connected high rises planned for 1201 Brickell Bay Drive, about a mile south of 300 Biscayne, just over the Brickell Bridge. The developers — Florida East Coast Realty, Corigin Real Estate Group and McCourt Global Properties — met with top brokers last year seeking feedback on the plans, which now call for 660 residential units.

Sources say the waterfront development will be built as condos, but a launch date hasn’t been determined.

The Related Group, too, is expected to relaunch at least two large-scale condo projects in Miami during the next cycle: 444 Brickell Avenue and 1400 Biscayne Boulevard. Both are luxury condos that will be built in three phases. The only certainty regarding a launch date for either project is that now is not the time.

“We are looking for signs. Right now it’s not the right time to launch,” Carlos Rosso, president of the condominium division, said.

Slow sales led the developer to cancel its Auberge Residences & Spa Miami project planned for the site at 1400 Biscayne — shutting down the 290-unit tower’s sales center and returning buyers’ deposits by early 2017 — less than a year after launching. That cancellation in particular was a key indicator that the market had reached a critical point in the cycle, insiders said.

Devil-may-care developers

While some are waiting to start projects two to three years in the future, there are a handful of others fearlessly forging ahead today — though it should be noted that in those cases, ample coffers certainly helped. In March, two new projects launched sales. OKO Group, led by Vlad Doronin, began sales for Una, a 47-story, 135-unit luxury condo tower at 175 Southeast 25th Road, with an architect and sales team in place. The developer, who has the financial backing to move forward, is planning to complete the building by 2021. That’s when some say the next cycle will begin.

Over on Fisher Island, developer Heinrich von Hanau just launched sales for a project he already started building. Palazzo Della Luna, a 10-story, 50-unit building, is expected to open next summer. 

Some of the most high-profile projects where sales and construction are underway may continue to sell and build into the next cycle — a costly move that could pay off if their completions are timed correctly. They include One River Point along the Miami River and the Estates at Acqualina in Sunny Isles Beach.

KAR Properties’ Shahab Karmely launched One River Point, a twin-tower, 60-story, 386-unit luxury condo development connected by a “Sky Club,” in 2015 — at the same time that the Estates at Acqualina launched. Sales have been slow at One River Point, which also faces challenges by having a not-so-concrete timeline. “Our sales are chugging along,” Karmely said. But “they’re not as strong as I would like them to be.”

Jay Parker, CEO of Douglas Elliman Florida, acknowledged that the lack of a timeline is “a very significant concern” among buyers. “People want to know how long it’s going to take. That’s why you see a lot of developers taking a lot of risk,” he added.

Site work at One River Point is now underway, and the developer expects to pour the foundation by the end of 2018. Despite launching later in the cycle, Karmely, too, has deep pockets he can rely on. His silent partner is Daniel Loeb, the billionaire investor who runs Third Point, one of the world’s most prominent activist hedge funds.

“You can only wait so long before you say, ‘Oh, shit. I waited too long.’ In life, you’ve got to jump in and swim,” Karmely said.

Others are making conservative moves aimed at mitigating any potential losses.

“The best approach a developer could take is [to] look back at history,” said Peter Zalewski, founder of CraneSpotters and Condo Vultures Realty, databases that track the preconstruction condo market and distressed opportunities, respectively. He pointed to the St. Regis Bal Harbour as an example of a profitable slow-and-steady approach. “They built very slowly and were able to deliver right as the market was returning.”

At Brickell City Centre, Swire Properties still has about 150 unsold condos at Reach and Rise and won’t launch sales for phase two until those units are sold.

Nevertheless, Swire is preparing for the second phase, which is slated to be a vertically stacked equivalent of phase one. The development firm also recently announced a partnership with Colombian businessman Carlos Mattos to build a residential project on a site immediately north and west of Brickell City Centre. Development marketers are eager to bid on the new business.

Securing new sites

As a cycle is ending, developers typically focus on looking for land they can develop in the next cycle while getting approvals for plans on the sites they already own. But, given the specifics of today’s market, there are a few flaws in that plan.

Inigo Ardid, co-president of Key International, said land prices are still too high for such moves. “The value of land is how much you can build on it. If the market’s not there, it should get a corresponding discount,” he said. “Right now, it’s not.”

Ardid — whose company recently delivered the 389-unit 1010 Brickell and will soon complete The Harbour, a 425-unit project in North Miami Beach — is looking to buy land, “but it’s going to take a little bit of time for the market to come back. People have to price land correctly,” he said.

PMG recently closed on a site at 400 Biscayne Boulevard, where the developer will build apartments and condos. That deal, a $55 million purchase, was about two years in the making. “Pricing is tough right now,” PMG’s Shear said, adding that there’s a big gap between sellers’ perceptions and the reality of today’s market.

Shear points to a 26,600-square-foot development site at 200 Southwest Eighth Street in Brickell as an example. The corner property recently hit the market for about $19.4 million. It could be built into a 122-unit residential tower or a 244-key hotel, plus retail, according to Alfonso Jaramillo of Fortune International Realty, who is marketing the property. PMG looked at the site, but Shear said it was too expensive.

Prospecting continues nonetheless. Related has a couple of sites it’s eyeing for development, Rosso said, declining to identify where they’re located. Louis Birdman of One Thousand Museum said he and his partners own a site in Broward County that they’re considering for a project, but he did not disclose more information. 

“If I were developing in Miami, I would think long and hard about launching now,” said Elliman’s Parker.

A cloudy ending to the cycle

The end of the cycle isn’t such a terrible place to be today  compared to the crash-and-burn ending in 2008. Some hard-earned lessons from that time ensured that today, fewer buyers have walked away from their units — the 50 percent deposit structure is largely responsible for that — and fewer projects have been canceled.

Shear believes the cycle ended a year ago, when sales slowed dramatically in South Florida. But now, he said, “we’re in a gap period, closer to the next cycle than we are to the end of this cycle.”

He’ll begin closings at Muse Residences in April with more than 80 percent sold. The luxury condo tower in Sunny Isles Beach has about 12 remaining units from a total of 64, he said. But last year, PMG sold only eight units at Muse. Most sold in 2015, when pre-construction condo sales in Miami peaked.

Pricing hit a high in 2016, which certainly didn’t help with sales, brokers said. While developers are hoping 2017 was the worst of it, that’s probably not the case. Once construction is for the most part over, developers will be stuck with unsold inventory and the carrying costs that come with those units. Buyers (including a number of investors) will also try to flip their units, flooding the market with even more inventory, Zalewski said.

“When the last crane comes down, that’s when the game is on because the clock is ticking,” he added. 

Related, which took the number one spot in TRD’s 2017 ranking of top South Florida condo developers, is delivering nine condo buildings this year and another four next year. Most, including Hyde Midtown, SLS Lux and the Paraiso complex in Edgewater, are nearly sold out, the company said.

Timing the market

If developers are getting their next-cycle plans together now, the question is, when should they pounce?

Before a new cycle begins, a few things have to happen. Rents will fall thanks to an oversupply of condos on the rental market. Resale inventory needs to decline — quickly — so that demand and prices will rise. 

“This is a hard market to predict. I don’t think anyone in their right mind thought the market was going to come back as strong as it did as long as it did,” Ardid said.

International Sales Group tracks pre-construction sales of projects east of I-95 in Miami-Dade and Broward counties, and found that of all the new inventory put on the market since 2012, 83 percent has been sold or pre-sold. ISG principal Craig Studnicky is especially optimistic, predicting that most of the remaining inventory will be absorbed this year, giving birth to the next cycle.

However, his prediction seems extremely unlikely, if not impossible — a recent report found that Miami-Dade has four years of existing luxury condo inventory. And a CraneSpotters analysis of new condo sales finds that there’s more than six years’ of supply in downtown Miami. In the county, nearly 2,800 units asking at least $1 million are on the market, according to Condo Vultures Realty. In 2017, 681 luxury units sold in the county, meaning an absorption rate of about 57 units a month, according to the Condo Vultures report. That’s not including the pipeline of new development.

“This is really like what 2011 was. It was pretty obvious we were nearing the end of selling the remaining inventory from the financial crisis of 2008, 2009,” Studnicky said.

KAR Properties’ Karmely doesn’t believe the market will come back as strong as it did at the start of this cycle. “Do I think it’s going to take longer for projects launched in the last two years to sell out? Yes, of course,” he said.

Once the demand is back and developers determine that they can sell new construction at a roughly 35 percent premium, they’ll launch new projects, he said.

Zalewski, who recently joined a private equity firm, Brickell Ventures, which is focused on buying bulk condo deals at discounts, expects the next cycle won’t begin until late 2021 or 2022. 

Everyone — developers, brokers and agents — are still optimistic, hoping the market will turn around, he added.

At the same time, they’re getting their approvals and teams in place to be in the right position “once we get out of the correction,” Zalewski said, referring to projects like Magic City and Design Place in Little Haiti. “They’re in early for the next cycle but way too late for this cycle.”

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First Look Inside A Unit At Jade Signature

Jade Signature is now complete.

As of last week, 127 units had been closed on, out of 195 built. In total, more than 95% of units are in contract or have been closed on.

There are 29 units listed for sale on the MLS, including several developer units that haven’t yet been sold. Prices for developer units start at about $1,500 per square foot, or #4.8 million, and range in price up to $32.9 million.

To view the gallery, click here.

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Fortune International Group Celebrates Grand Opening of Jade Signature

March 19, 2018
Sunny Isles Beach, FL – March 16, 2018 – More than 500 luminaries many from across the globe were in attendance to commemorate the highly-anticipated opening of Miami’s most architecturally extraordinary oceanfront address: Jade Signature in Sunny Isles Beach. Event-goers of the Friday night bash were treated to an electrifying evening of festivities, including a performance by Yoli Mayor of “America’s Got Talent” fame, a 25-person orchestra, and a heart-pounding fireworks show over the Atlantic Ocean. Developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, the beauty of Jade Signature reflects the top talents of a trio of the industry’s greatest collaborators: world-renowned Swiss architects Herzog & de Meuron, visionaries behind the Tate Modern in London, 1111 Lincoln Road, and the Peréz Art Museum Miami; Parisian interior design firm PYR, led by Pierre Yves-Rochon, who has gained international prestige for elegant interiors in top luxury residences, spas and hotels, including the Four Seasons George V in Paris, The Savoy in London, and the in-progress renovation of the Waldorf Astoria in New York; and celebrated Miami landscape architectural firm Raymond Jungles Inc.

To view the full gallery, click here.

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Conoce el nuevo hogar del futbolista Miguel Ángel Borja en Miami

March 18, 2018
Miguel Ángel Borja, joven futbolista colombiano y estrella del Palmeiras de Brasil, ha escogido Missoni Baia, la lujosa torre de condominios de 57 pisos ubicada en Edgewater, uno de los vecindarios de mayor crecimiento en Miami, como su lugar de residencia. Este futbolista fue elegido como el Mejor Jugador de América en el 2016 por la encuesta del diario El País de Uruguay y asimismo ha tenido distintos reconocimientos que lo han llevado a ser una de las estrellas del fútbol colombiano actualmente.

Missoni Baia representa el primero de cuatro proyectos de OKO Group, la firma de desarrollos inmobiliarios fundada por el magnate de los bienes raíces y prolífico desarrollador internacional, Vladislav Doronin, en Miami, así como las primeras residencias bajo la marca Missoni, la legendaria casa de moda y diseño italiana.

“Lo que me atrajo de Missoni Baia es el hecho de que no tengo que salir de mi hogar si quiero disfrutar de un día con mis hijos en la piscina, entrenar en el gimnasio o relajarme en el spa”, comentó Borja.

Para ver la galería, haga clic aquí.

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Fortune International Group celebrates the official grand opening of Jade Signature in Sunny Isles Beach

March 17, 2018
Fortune International Group celebrated another successful delivery as the Herzog & de Meuron-designed Jade Signature officially celebrated its grand opening yesterday. The lavish celebration offered a glimpse into the stunningly finished amenities, complete with a live symphony, drum show and fireworks show. The building received its TCO with closings and move-ins beginning in February.

“Today is about Jade Signature. It is about this site that allowed us to dream. To dream of having the parking underneath us. The dream of having 3 full floors of amenities. To dream of 100% of the units face the ocean directly and 60% of them are flow through unit that look both ways. To be able to twist the building so the sun is on the pool and the beaches throughout most of the afternoon without sacrificing any of the views. That dream that eventually comes through is what makes us very very proud,” said Edgardo Defortuna, President and CEO of Fortune International Group while speaking to the crowd at the grand opening celebration.

Jade Signature was developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, designed by the Pritzker-Prize winning architecture firm Herzog & de Meuron, in collaboration with Parisian interior designer Pierre-Yves Rochon (PYR) and landscape architect Raymond Jungles, and financing provided by HSBC. Sales and construction began in 2013. 95%+ of the 192 residences have been purchased by an array of buyers spanning the U.S., Latin America and Europe.

 

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Jade Signature’s grand opening is today, and it’s nearly sold out

March 16, 2018
Today marks the grand opening for Pritzker Prize-winning Swiss architects Herzog & de Meuron’s long-awaited Jade Signature. It’s been a long journey since the Sunny Isles Beach tower’s 2013 groundbreaking, and now Jade Signature’s 192 residences are more than 95% sold.

Developed by Fortune International Group’s husband-and-wife team Edgardo and Ana Cristina Defortuna, the project draws on the talent of Herzog & de Meuron, Parisian interior design firm PYR led by Pierre Yves-Rochon, and Miami landscape architectural firm Raymond Jungles Inc.

”Ana Cristina and I are thrilled to deliver this monumental building to our buyers, many of whom have eagerly followed the progression of the Jade brand, showing confidence in our vision by purchasing during the pre-construction phase,” President and CEO of Fortune International Group Edgardo Defortuna said in a press release. ”When you have this level of support behind you – from the creative team to the brokers and buyers – anything is possible.”

The building is angled to maximize sunlight, while a three-story underground parking garage buried about 40 feet below sea level connects the building to the garden landscaping and beach beyond. Although the tower looks futuristic, it’s rooted in nature, including a massive centuries-old Kapok tree planted as a focal point at the tower’s entrance.

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OKO Group celebrates launch of Una residences in style with fireworks show in Brickell

March 16, 2018
OKO Group, the Miami-based development company founded by real estate magnate and prolific international developer, Vladislav Doronin, recently celebrated the launch of its second project, Una, a monumental 47-story, waterfront condominium tower designed by Adrian Smith + Gordon Gill Architecture (AS+GG). The evening capped off with an electrifying fireworks show and musical entertainment by a Latin jazz ensemble group. The event was hosted in a stunningly appointed sales gallery located atop the existing 11-story building that took OKO Group over a year to assemble unit-by-unit.

OKO Group COO, Oktay Cini, and CFO, Fran Scola; Edgardo Defortuna, president and CEO of Fortune International Group; and Miami-Dade County Commissioner and longtime Brickell resident, Xavier Suarez, joined the city’s top real estate brokers, local influencers and members of the media for a sunset toast amid a stunning Biscayne Bay backdrop.

It has also been reported that in the short amount of time that sales have been live 25 units have gone under contract.

Una will offer 135 bay view residences ranging from two to five bedrooms that have flow-through floorplans. They offer private elevator entry, 10’8” ceilings, chef’s kitchens with Gaggenau appliances, master suites with his and hers wings, laundry rooms with washers and dryers, and expansive 180 degree terraces featuring seamless floor-to-ceiling doors with “effortless lift and glide” glass balcony doors, glass balcony railings, and panoramic views of Key Biscayne, Downtown, Miami Beach, and Coconut Grove.

Amenities include a private marina, three pools, a state-of-the-art fitness center with yoga and personal training areas, a spa featuring indoor and outdoor private massage treatment rooms, three levels of subterranean parking, a cinema, and 24-hour concierge. Una’s location on a waterfront urban park setting will be further enhanced with a private bayside garden by Enzo Enea’s award-winning landscape architectural firm Enea Garden Design, Inc. Residents will also have access to the Grand Bay Club on Key Biscayne.

Una is expected to be delivered by Q4 2020.

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Herzog & de Meuron’s Jade Signature residential tower opens in Miami

March 16, 2018
There is no shortage of glamorous residential architecture in Miami – from the new-build wonders of the likes of One Thousand Museum by Zaha Hadid, to the rich art deco heritage, this is a city awash with luxury housing options. Now, a new addition makes its entrance in the scene, as today marks the official opening of Jade Signature, Pritzker Prize-winning Swiss practice Herzog & de Meuron’s latest local offering.

The architects are well-known for their critically acclaimed work in Miami, which includes high profile commission such as 1111 Lincoln Road, and the Peréz Art Museum – and this oceanfront property, which sits in the Sunny Isles Beach neighbourhood, was developed for husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group. For Jade Signature, Herzog & de Meuron worked with celebrated Miami landscape architect Raymond Jungles and Parisian interior designer Pierre Yves-Rochon.

Light and elegant, Jade Signature’s concrete, sinuous form clearly stands out among its neighbours for its bright white presence and shimmering glazing. Slabs clearly articulate different floors, while windows are recessed in a gesture that further enhances the building’s highly sculptural character. Comprising 192 residences serviced by a rich selection of amenities – such as swimming pool, private beach, spa, playrooms and a wine bar and lounge – the development also features state-of-the-art smart technology throughout.

The design is not all about the aesthetics. The architects took extra care to ensure the building adheres to environmentally friendly principles, using the natural context in an eco-conscious manner. Natural ventilation is encouraged throughout, while a combination of carefully placed windows and a strategically orientated overall volume, means that the apartments can be lit but also cooled down naturally as much as possible.

‘Jade Signature is a tower on the beach. Like the great Miami hotels we have come to admire, it is a building rooted directly in the landscape and the city around it. Interior and exterior are seamlessly bound together’, say the architects. ‘The Jade Signature project is expressive of its residential program, its relationship to the beach and the historical context of the city around it. Through an arrangement of slabs and structural walls, solid elements and open terraces, the tower is a simple gesture that gains in depth and complexity as it is approached and experienced.’

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Herzog & de Meuron completed the skyscraper in Miami

March 13, 2018
57 floors, 192 suites, each of which boasts a spacious terrace, underground parking, a restaurant and a private spa with a pool – nothing unusual when it comes to premium accommodation in Florida. However, the architects took care of the inhabitants of the city, the main attraction point of which, of course, is the beach. The concrete tower is gradually tapering to the top, and this not only gives its outlines ease, but also allows you to make a shadow from a skyscraper falling on the coast, quite small.

Jade Signature is not the first work of Herzog & de Meuron in Miami. The famous parking lot 1111 Lincoln Road and the Peréz Museum of Art, which have become local attractions, are also the work of a well-known architect.

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Herzog & de Meuron completes Jade Signature skyscraper in Miami

March 12, 2018
Swiss firm Herzog & de Meuron has completed a residential tower north of Miami Beach, featuring terraces formed by extended concrete floor slabs.

Set to open officially on 16 March 2018, the Jade Signature development is located beside the beach in the Sunny Isles district and includes 192 condominiums.

The 57-storey concrete tower, which tapers gradually towards its top, features sculptural columns expressed on its exterior, between floor plates extended beyond the glass walls.

“Seen together, the walls and slabs – primary elements in the tower’s architecture – create a finely textured expression on the facade,” said Herzog & de Meuron in a statement.

“Concrete is both native to Miami’s construction industry and integral to the tropical modernism that is part of Miami’s architectural heritage.”

The terraces add 30 per cent more floor area to each residence and provide shaded spaces for outdoor living – popular in Florida’s tropical climate.

Column edges and the undersides of the concrete slabs are subtly patterned, and the glass handrails are tilted to minimise reflections.

Herzog & de Meuron chose a parallelogram footprint to minimise the skyscraper’s shadow on the beach to the east, and maximise the amount of direct sun the ocean-facing units receive.

Unlike many of its neighbours, the tower’s parking provision is located underground rather than housed in a podium at the base.

This enables residents to access the lobby directly from the street, and the swimming pool and beach from the same level.

A ribbon-like driveway takes cars from Collins Avenue up to the drop-off entrance on the west side, then becomes a winding route through the building’s amenities, which include a restaurant and a spa.

Herzog & de Meuron has designed some of Miami’s most iconic contemporary buildings, including the 1111 Lincoln Road concrete parking garage and the Peréz Art Museum surrounded by hanging plants.

The firm was founded in 1979 by Jacques Herzog and Pierre de Meuron in Basel, Switzerland. It was placed at number 12 in the 2017 Dezeen Hot List of the world’s most newsworthy forces in design.

The studio is among the many well-known firms with apartment towers either recently completed or underway in the city, joining BIG, Foster + Partners, Zaha Hadid Architects, Renzo Piano and more.

But all architects and developers are having to face one issue in the low-lying city – the impending issue of rising sea levels.

Read More

For High-End Branded Buildings, Miami Reigns

March 11, 2018
Real estate developers, increasingly faced with a bevy of competition, are choosing well-known luxury lifestyle brands to entice buyers with more than just bricks and mortar. With five luxury brand-affiliated buildings set to open in South Florida by 2021, the sunny region has seemingly become the unofficial home of the branded building, helped in large part by its international buying demographic.

The trend is not quite so en vogue in long-established luxury markets. In London and New York City, for example, branding partnerships lean soundly toward hotels as opposed to luxury fashion and automobile brands. But London’s first fashion-brand partnership, a collaboration between Versace Home and the AYKON London One tower in the city’s Nine Elms regeneration zone, is headed to the capital in 2020.

Meanwhile, newer markets like Dubai and Beijing have long been the targets for luxury-branded developments. Dubai’s Armani hotel opened in 2010; last year, Armani’s eco-friendly complex with Smart Hero Group in Beijing was completed. The fashion house is also working on the interiors at Century Spire in Manila, Philippines, set to be completed this year. Meanwhile, Fendi partnered with DAMAC Properties for the interiors of Dubai’s DAMAC Residenze, which opened in 2017.

Miami Likes the Flash

The popularity of the branded-building in the Sunshine State though, boils down to one simple thing, according to one developer.

“Miami is more of a flashier type of city, than other areas like New York or Chicago that are a little more conservative,”  said Jon Paul Perez, vice president of Related Group, one of the developers behind Residences by Armani/Casa, set to open in the city in 2019.

The Porsche Design Tower may be one of the most well-known projects to emerge onto the Florida market. The building on Sunny Isles Beach, a barrier island north of Miami, is a collaboration between Dezer Development and Porsche Design Group.

The 60-story building—designed by Sieger Suarez Architects—was completed last year and comes with a high-powered automobile elevator that transports drivers and their cars from street level to parking at their apartments. Only six of the tower’s 132 residences remain unsold, according to Gil Dezer, president of Dezer Development. Sales launched in 2012.

The automobile collaborations don’t end there. In downtown Miami, British luxury vehicle company Aston Martin has partnered with Argentinian developer G&G Business Developments for their own tower. The 66-story building, set for completion in 2021, will be topped with a triplex penthouse and have amenities like a fitness center and spa, a pool deck and a marina.

But it’s the fashion-conscious buyer that’s really being catered to in the sunshine state.

Italian fashion house Fendi paired with developers Château Group for the Fendi Château Residences, the inaugural Fendi-branded residential project. The 12-story building in Surfside was completed in 2016 and houses 58 units, including three penthouses with private rooftop sundecks and swimming pools.

Armani is set to hit the South Florida residential scene in summer 2019 with their Residences by Armani/Casa project. Roughly five blocks away from the Porsche Design Tower in Sunny Isles Beach, the 56-story building is over 75% sold. It’s expected to be finished in the summer of 2019 and the tower will have over 35,000-square-feet of amenities, including a wine cellar and cigar room.

Missoni Baia, in Miami’s Edgewater neighborhood, is a partnership between the fashion house known for its colorful style and developer OKO Group. Designed by Hani Rashid of Asymptote Architecture, the 57-story building is slated for completion in the fall of 2020. It will have 229 residences, ranging in size from 776 to 3,788 square feet.

Why South Florida?

A branded building in South Florida “is a sign of distinction,” said Edgardo Defortuna, the president and CEO of Fortune International Group, the exclusive broker of Missoni Baia.

With so many high-end new buildings from which to choose, being able to distinguish a building is important for developers.

And in Miami, where many developers don’t even begin construction until they’ve hit 50% in pre-sales to secure funding and guarantee interest, branding becomes even more important, according to Mr. Defortuna.

In New York City, “you build and then you sell. In Miami, we sell before [the building] becomes a reality,” Mr. Defortuna said. “To be able to ‘sell the dream,’ so to speak, it’s important to have something to point to.”

Those well-known—and well-respected—brands can theoretically get those buildings built more quickly.

Recipe for Success

Partnership conditions vary from deal to deal, but typically the developer will pay the brand a percentage of sales, typically 2% to 5%, which is paid at the closing of each unit in the building, according to Mr. Defortuna.

“For that fee, the developer has the right to use the name—subject to brand standards—and the brand provides either design or management services, according to the agreement worked out between the parties,” Mr. Defortuna said.

But for a brand to make a successful foray into real estate, it has to be one “that people associate with not only luxury but a certain type of lifestyle that people can relate and aspire to,” Mr. Perez said.

At the same time, “it has to be a brand the developer can work with,” Mr. Perez added. “The brand and designer can have amazing ideas but you have to be able to build those and make them a reality.”

Not only does a partnership have to be chosen with care, but the brand must translate clearly and recognizably into the project.

In the Aston Martin Residences “It’s not as if the place is emblazoned with wings,” said Marek Reichman, Aston Martin’s chief creative officer and the lead designer on the Aston Martin Residences project, referring to the sports car’s logo. “It’s much more subtle than that.”

Signature materials from the brand’s cars are found in the tower’s interiors, common areas and amenity spaces, like the hand-stitched leather door tabs—sourced from a Scottish village—and  the carbon fiber lobby furniture. “Obviously there’s a design aesthetic,” Mr. Reichman said.

The units remain more neutral. “If a customer comes along and is buying, they can make a choice to create their own environment or talk to us and we can advise them or create for them,” Mr. Reichman said. “However much of Aston Martin you want, you can have.”

Not only does the aesthetic matter for the brand itself, but it’s crucial to brand loyalists too, who inevitably become an important section of buyers.

“There’s a real sense of connection with the brand and for our traditionalists that’s brilliant,” Mr. Reichman said, adding that buyers so far have been a 50/50 split between customers that know the brand and those who have just come to the showroom regardless of the connection.

The real estate venture allows Aston Martin to secure “those new and different customers that we haven’t looked to talk to before because they haven’t come from the traditional automotive channels,” Mr. Reichman said.

Who’s Buying?

Foreign buyers purchased $7.1 billion of South Florida residential properties last year, up from $6.2 billion a year ago, according to a recent report by the Miami Association of Realtors. In Miami alone, foreign buyers accounted for 35% of closed sales and purchased 15,400 properties last year, a 41.3% surge from the year before (10,900).

Argentinian buyers led the way, accounting for 15% of South Florida foreign purchases, followed by Venezuela (11%), Canada and Colombia (9% each).

It’s for this reason that internationally recognized brands are key.

“Your buyers a lot of the time are from out of the country and associate a lot with these brands,” Mr. Perez said. “They know Armani, even from just going to the stores, they can feel how that is going to transition into the building they’re buying in.”

Of the sales to date at Residences by Armani/Casa, Mr. Perez said 80% have been from international buyers.

Robert Thorne, CEO and founder of Miami-based The Wellness Habitat Co., is one of the other 20%.

He bought a two-bedroom unit on the 25th floor at Residences by Armani/Casa about two years ago for $1.4 million, as soon as sales launched at the building. The apartment will be Mr. Thorne’s Miami base, he told Mansion Global, now that he primarily lives in Mexico City.

An important factor in his purchase was the developer, he said, “but the brand was the main thing. We had seen the Armani building in Dubai and were convinced by the style.”

“I’m not 100% Armani, but I follow the brand, we have stuff at home from Armani, I wear Armani suits,” Mr. Thorne said, “Just knowing that the brand is behind it, it makes sure that everything else is going to be of quality.”

He said, “We knew our investment was going to be secure.”

Read More

South Florida is the unofficial epicenter of condos bearing luxury brands

March 11, 2018
Real estate developers put luxury brands on their buildings in other metropolitan areas, but nowhere is the practice more fashionable than in South Florida, where five branded condominiums are expected to open by 2021.

The large international segment of the condo market in South Florida is one reason why developers there are forming partnerships with luxury brands for automobiles and apparel.

Branding is especially important to international buyers in the Miami area, who often are more familiar with a condo project’s brand than its developer or its address, according to Jon Paul Perez, vice president of Related Group, the leading condo developer in South Florida.

The Miami Association of Realtors reported that foreign nationals bought 15,400 residences in Miami last year, a 41.3 percent increase from 10,900 residences in 2016.

The developer of a branded condominium usually pays the brand two percent to five percent of the proceeds when the sale of each condo unit is closed, according to Edgardo Defortuna, president and CEO of Fortune International Group.

Porsche Design Tower on Sunny Isles Beach is one of the best-known branded condominium developments in South Florida. The 60-story building has gained notoriety because of its automobile elevator, which shuttles condo owners and their vehicles between the street and parking spaces outside their condos.

Germany-based automaker Porsche entered a partnership with Dezer Development to put its brand on Porsche Design Tower. Of the building’s 132 condos, 126 have been sold since sales began in 2012, said Gil Dezer, president of Dezer Development.

British automaker Aston Martin and Argentina-based developer G&G Business Development entered a branding agreement for a 66-story condominium in downtown Miami called Aston Martin Residences, which is scheduled to open in 2021.

Other developers in South Florida are using fashion brands to attract buyers to such condo developments as Fendi Château Residences, a 12-story, 58-unit building in Surfside that opened in 2016.

Missoni Baia, a 57-story, 229-unit condominium scheduled for completion in the fall of 2020, is a project that developer OKO Group branded with the name of the Missoni fashion house.

Under construction in Sunny Isles Beach is a 56-story condo development called Residences by Armani/Casa. More than 75 percent of the units have been sold, and construction of the high-rise is scheduled for completion in the summer of 2019.

One of the buyers of units at Residences by Armani/Casa is Robert Thorne, chief executive officer and founder of The Wellness Habitat Co. of Miami. Thorne, who owns some Armani suits, told Mansion Global that he has confidence in his purchase of a $1.4 million condo at the development “just knowing that the brand is behind it.” [Mansion Global] – Mike Seemuth

Read More

UNA Residences, Una Torre De Súper Lujo En Miami

March 11, 2018
El constructor y empresario ruso Vladislav Doronin, presidente de la firma OKO Group, se las arregló para comprar un viejo edificio de 11 pisos, situado en un tranquilo callejón sin salida con la gran cualidad de estar frente por frente a la Bahía de Biscayne, para levantar una torre de súper lujo de 47 plantas. UNA Residences es su nombre.

UNA Residences Es Un Proyecto De Súper Lujo

En la noche del jueves fue presentado al público UNA Residences. Este es un proyecto de súper lujo diseñado por los estudios de arquitectura Adrian Smith + Gordon Gill Architecture. Albergará 135 propiedades de alto standing, cada una con ascensor privado. Los  tamaños irán desde 1.100 hasta 4.786 pies cuadrados. Y los precios comenzarán en $900.000 hasta los $5 millones la unidad.

En la concurrida velada estuvieron presentes representantes de los principales grupos inmobiliarios de Miami y algunas figuras políticas locales como el comisionado del condado Miami-Dade, Xavier Suárez.

La Torre UNA Residences Terminará Su Construcción En 2021

La moderna torre UNA Residences, que se terminará de construir en 2021, muestra la calidad de sus unidades en un piso piloto ubicado en el mismo punto de ventas en 175 SE 25ht Rd. Los apartamentos combinarán elementos de madera, piedra y cuero. Las ventanas serán amplias desde el techo hasta el suelo para dar la impresión de encontrarse sobre el agua de la bahía.

La Ubicación De La Torre Es Única En Miami

La ubicación de la torre UNA Residences es única en Miami. Según las propias palabras de Doronin en esa zona no ha habido ninguna construcción en los últimos 10 años. “Tuvimos la suerte de lograr comprar este sitio y en un futuro cercano no creemos que nadie más puede construir aquí”.

Para llegar al momento actual hubo un largo proceso que comenzó en 2015 por la identificación de la zona, el estudio de los códigos de zonificación, la compra de cada uno de los 61 apartamentos del viejo edificio, y gran análisis de riesgos y gastos para así proyectar una inversión de tal magnitud.

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Creating Condo Demand From Short Supply Of Waterfront Property

March 9, 2018
Real estate in Miami-Dade County has ebbed and flowed according to the waters bordering it – the tenet of location, location, location.

The tide has since turned, though. The city is looking upward, building condos that tower above the ocean.

But the supply of waterfront property is eroding. This has led some real estate developers to buy condo buildings, tear them down and replace them with something bigger and newer.

The process is called condo termination. Not all South Floridians are onboard.

La-Shanda West would rather see eco-friendly condos with solar panels. Joel Eriksson in Fort Lauderdale already thinks tearing down and building up are a problem in his neighborhood.

“All these plans for new condos going up are only going to add more and more problems,” he says. “I see it firsthand every single day.”

Sonya Arias, 26, has been looking for apartments for months. She says if an old condo is knocked down and replaced, new affordable housing should go up in its place.

“If anything needs to go up, it’s apartments for us, so maybe I can leave the nest,” Arias says.

Real estate reporters Brian Bandell, with The South Florida Business Journal, and Rene Rodriguez, with the Miami Herald, join WLRN’s Nadege Green and Tom Hudson to explain how the process works.

NADEGE GREEN: Brian, why is this happening?

BANDELL: There’s been a run on land values in South Florida – a huge increase in development – and it just so happens that some of the best sites for development have older condos on them. Buildings from the ’50s and ’60s that happened to be on the waterfront in Brickell or on Miami Beach. And if a developer is able to buy out enough of those units, they can then terminate the condo association, knock the building down, and build something in place that is much more valuable.

NG: Rene, can you talk more about terminating a condo building? How do you sell an entire building with dozens of individual owners? Surely, there’s some pushback.

RODRIGUEZ: There can be. The first thing you have to do is you have to identify a lot of land, like an acre of land, where the value of the land is worth more than the building that’s sitting on it. These tend to be older buildings that were built in the ’50s and ’60s, or even in the ’70s, that haven’t been built to current hurricane codes. So it would cost the owners of those condos more money to renovate their buildings and put in new windows, put in new roofs, than it would to just sell the unit outright.

TOM HUDSON: Rene, these buildings are ancient in terms of South Florida standards, right? The ’30s, ’40s, ’50s, ’60s and ’70s. So it’s the best land, right? I mean it was the land that was first built upon.

But how did the developers then match what’s there now with modern zoning? I mean you got to be able to put a big enough building there in order to reap big enough profits to just buy out all the condominiums don’t you? 

RODRIGUEZ: That’s correct. The zoning laws have to be in place so you can build out a much bigger structure than what’s there now. The particular example that we wrote about at 175 SE 25 Road, that area is zoned for a building of up to 48 stories. The condo building that developers bought was 11 stories, so you can see how you could maximize the potential value of that land. You can triple or quadruple it by building a new structure.

BANDELL: And the same in Sunny Isles Beach. You see all the huge skyscrapers there. There’s still a bunch of old hotels and condos there. So if you can buy a 10-story condo from the ’60s, knock it down, build a 50 to 60-story building, that’s an easy way to make a lot of profit for a developer

NG: Brian, what would replace the buildings that are going to be torn down? What happens when you take an older building that might be more affordable now, then tear it down?

BANDELL: I’ve seen a couple different things. And with the OKO group, they’re getting a condo called Una where you know you’re having units start at $900,000 for just one bedroom. So that’s a high-end, luxury-type building.

On Miami Beach there are some condo buildings that are being converted into hotels. It really depends on what is the best use of the land. And unfortunately, you’re not going to see anything more affordable. They’re doing this in order to maximize the value, which means high-end in some capacity.

TH: You’re really reshaping neighborhoods, and some of these older neighborhoods with these older buildings, right, Rene? If you’re taking a building that you wrote about there on the south end of Brickell that’s under 12 stories, replacing it with a 47-story building with an entry price of $900,000 for a one-bedroom apartment, that is significantly changing the character of that neighborhood.

RODRIGUEZ: Absolutely. This street is a cul-de-sac. There’s no through traffic in it, so there’s not a lot of cars. And you have these amazing views of the bay.

One interesting thing about this particular project is they also tried to buy an addition to the building that they bough. They tried to buy a smaller building that was just adjacent to it. And they were unable to buy that one because once people in that building got word of the fact that the developers were interested, they started jacking up their prices. So, it didn’t make good business sense for them to buy the other building.

The bad news for those people is that now they’re going to be living next door to a construction site for two years. And their view of the bay is going to be blocked by this giant 47-story tower. But it does absolutely change the tenor of a neighborhood but it could also conceivably bring up the value of those properties.

Albert Gomez from Coconut Grove: I would want to see buildings built to new standards. I would want them to consider density and the type of neighborhood that it was prior to the purchase.

Carolyn McCrossin from Margate: I’d like to see attraction, multistory condos or rental buildings, with stores on the first floor—not tourist traps, but actual neighborhood stores. Think NYC.

Kelly Cox from Coral Terrace: As older condos get developed, we’d like to see something more sustainable and resilient take their place. Structures that plan for sea level rise and storm surge through techniques like living shorelines are essential.

Camila Prada from North Miami: I would NOT want to see buildings. We need more green out here, trees, maybe a park with benches to enjoy the outdoors.

Victor Tejera from Coconut Grove: I would love to see equal opportunity housing. Doubtful Miami and its developers actually care about providing all factors of our community (poor and not) with waterfront residence opportunities. The average middle class Miamian needs help for secure housing.

Read More

Creating Condo Demand From Short Supply Of Waterfront Property

March 9, 2018
Real estate in Miami-Dade County has ebbed and flowed according to the waters bordering it – the tenet of location, location, location.

The tide has since turned, though. The city is looking upward, building condos that tower above the ocean.

But the supply of waterfront property is eroding. This has led some real estate developers to buy condo buildings, tear them down and replace them with something bigger and newer.

The process is called condo termination. Not all South Floridians are onboard.

La-Shanda West would rather see eco-friendly condos with solar panels. Joel Eriksson in Fort Lauderdale already thinks tearing down and building up are a problem in his neighborhood.

“All these plans for new condos going up are only going to add more and more problems,” he says. “I see it firsthand every single day.”

Sonya Arias, 26, has been looking for apartments for months. She says if an old condo is knocked down and replaced, new affordable housing should go up in its place.

“If anything needs to go up, it’s apartments for us, so maybe I can leave the nest,” Arias says.

Real estate reporters Brian Bandell, with The South Florida Business Journal, and Rene Rodriguez, with the Miami Herald, join WLRN’s Nadege Green and Tom Hudson to explain how the process works.

NADEGE GREEN: Brian, why is this happening?

BANDELL: There’s been a run on land values in South Florida – a huge increase in development – and it just so happens that some of the best sites for development have older condos on them. Buildings from the ’50s and ’60s that happened to be on the waterfront in Brickell or on Miami Beach. And if a developer is able to buy out enough of those units, they can then terminate the condo association, knock the building down, and build something in place that is much more valuable.

NG: Rene, can you talk more about terminating a condo building? How do you sell an entire building with dozens of individual owners? Surely, there’s some pushback.

RODRIGUEZ: There can be. The first thing you have to do is you have to identify a lot of land, like an acre of land, where the value of the land is worth more than the building that’s sitting on it. These tend to be older buildings that were built in the ’50s and ’60s, or even in the ’70s, that haven’t been built to current hurricane codes. So it would cost the owners of those condos more money to renovate their buildings and put in new windows, put in new roofs, than it would to just sell the unit outright.

TOM HUDSON: Rene, these buildings are ancient in terms of South Florida standards, right? The ’30s, ’40s, ’50s, ’60s and ’70s. So it’s the best land, right? I mean it was the land that was first built upon.

But how did the developers then match what’s there now with modern zoning? I mean you got to be able to put a big enough building there in order to reap big enough profits to just buy out all the condominiums don’t you? 

RODRIGUEZ: That’s correct. The zoning laws have to be in place so you can build out a much bigger structure than what’s there now. The particular example that we wrote about at 175 SE 25 Road, that area is zoned for a building of up to 48 stories. The condo building that developers bought was 11 stories, so you can see how you could maximize the potential value of that land. You can triple or quadruple it by building a new structure.

BANDELL: And the same in Sunny Isles Beach. You see all the huge skyscrapers there. There’s still a bunch of old hotels and condos there. So if you can buy a 10-story condo from the ’60s, knock it down, build a 50 to 60-story building, that’s an easy way to make a lot of profit for a developer.

NG: Brian, what would replace the buildings that are going to be torn down? What happens when you take an older building that might be more affordable now, then tear it down?

BANDELL: I’ve seen a couple different things. And with the OKO group, they’re getting a condo called Una where you know you’re having units start at $900,000 for just one bedroom. So that’s a high-end, luxury-type building.

On Miami Beach there are some condo buildings that are being converted into hotels. It really depends on what is the best use of the land. And unfortunately, you’re not going to see anything more affordable. They’re doing this in order to maximize the value, which means high-end in some capacity.

TH: You’re really reshaping neighborhoods, and some of these older neighborhoods with these older buildings, right, Rene? If you’re taking a building that you wrote about there on the south end of Brickell that’s under 12 stories, replacing it with a 47-story building with an entry price of $900,000 for a one-bedroom apartment, that is significantly changing the character of that neighborhood.

RODRIGUEZ: Absolutely. This street is a cul-de-sac. There’s no through traffic in it, so there’s not a lot of cars. And you have these amazing views of the bay.

One interesting thing about this particular project is they also tried to buy an addition to the building that they bough. They tried to buy a smaller building that was just adjacent to it. And they were unable to buy that one because once people in that building got word of the fact that the developers were interested, they started jacking up their prices. So, it didn’t make good business sense for them to buy the other building.

The bad news for those people is that now they’re going to be living next door to a construction site for two years. And their view of the bay is going to be blocked by this giant 47-story tower. But it does absolutely change the tenor of a neighborhood but it could also conceivably bring up the value of those properties.

WLRN: With developers buying out condo buildings to build something new, What would you want to see in place of an old condo building? 

Albert Gomez from Coconut Grove: I would want to see buildings built to new standards. I would want them to consider density and the type of neighborhood that it was prior to the purchase.

Carolyn McCrossin from Margate: I’d like to see attraction, multistory condos or rental buildings, with stores on the first floor—not tourist traps, but actual neighborhood stores. Think NYC.

Kelly Cox from Coral Terrace: As older condos get developed, we’d like to see something more sustainable and resilient take their place. Structures that plan for sea level rise and storm surge through techniques like living shorelines are essential.

Camila Prada from North Miami: I would NOT want to see buildings. We need more green out here, trees, maybe a park with benches to enjoy the outdoors.

Victor Tejera from Coconut Grove: I would love to see equal opportunity housing. Doubtful Miami and its developers actually care about providing all factors of our community (poor and not) with waterfront residence opportunities. The average middle class Miamian needs help for secure housing.

Read More

OKO Group Celebrates Launch of UNA Residences

March 9, 2018
OKO Group, the Miami-based development company founded by real estate magnate and prolific international developer, Vladislav Doronin, recently celebrated the launch of its second project, Una Residences, a monumental 47-story, waterfront condominium tower designed by Adrian Smith + Gordon Gill Architecture (AS+GG). Representing the only luxury tower currently slated to break ground South of Brickell, Una will soon soar at what was once the birthplace of Brickell high-rises near the crossroads of Key Biscayne and Coconut Grove. OKO Group COO, Oktay Cini, and CFO, Fran Scola; Edgardo Defortuna, president and CEO of Fortune International Group; and Miami-Dade County Commissioner and longtime Brickell resident, Xavier Suarez, joined the city’s top real estate brokers, local influencers and members of the media for a sunset toast amid a stunning Biscayne Bay backdrop. The evening capped off with an electrifying fireworks show and musical entertainment by a Latin jazz ensemble group.

To view the gallery, click here.

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OKO Group, Bajo La Direccion De Vladislav Doronin, Anuncia Su Segundo Proyecto En Miami, Una.

March 9, 2018
Una, la Nueva Torre Costera que pondrá por lo alto la esencia de Brickell-se eleva cerca de la intersección de Key Biscayne y Coconut Grove

OKO Group se enorgullece en anunciar su segundo proyecto inmobiliario en Miami, justo luego del inicio de la construcción de Missoni Baia a fines del año pasado. La empresa constructora con sede en Miami, fundada por el magnate de bienes raíces Vladislav Doronin, prolífico constructor cuya amplia cartera global incluye 71 proyectos internacionales y 75 millones de pies cuadrados de propiedad, tiene una cartera de proyectos en Miami por valor de mil millones de dólares.

Una – la monumental torre de condominios diseñada por Adrian Smith + Gordon Gill Architecture (AS + GG) los aclamados arquitectos constructores de la Torre Jeddah en Arabia Saudita, pronto se elevará en lo que una vez fue el lugar de nacimiento de la ciudad en la década de 1970, a lo largo del punto más al sur de la avenida Brickell, cerca del cruce de la Autopista Principal de Coconut Grove y la Avenida Brickell, en el 175 SE 25th Road.

“El vecindario frente al mar de South Brickell es una zona residencial de renombre que limita con el frondoso suburbio de Coconut Grove y está a las puertas de Key Biscayne, este último, con playas de arena blanca y hermosos parques para todos”, dijo Vladislav Doronin, presidente y CEO de OKO Group. “Los residentes de Una se beneficiarán del acceso a las principales carreteras y las principales arterias de transporte de Miami en solo unos minutos. La torre ofrecerá un estilo llamativo, intimidad total, exclusividad y una gama de servicios de lujo de primera clase que son una muestra excepcional de la alegría de vivir en Miami. Destinada a convertirse en el nuevo punto de referencia en el horizonte de Brickell, Una, definirá aún más a Miami como uno de los principales destinos del mundo para la vida elegante y la sofisticación, gracias al equipo de diseño de renombre internacional trabajando en el proyecto.”

OKO Group se asociará con la firma internacional de inversiones inmobiliarias, Cain International, para construir Una. Jonathan Goldstein, CEO de Cain International, dice: “Estamos encantados de asociarnos con OKO Group para nuestro segundo proyecto juntos en Miami. Entre los negocios de Vladislav y Cain, hemos construido más de veinte mil apartamentos y condominios. Esperamos aportar nuestro conocimiento y experiencia a esta ciudad vibrante que está en constante expansión y agregar con Una, un monumento arquitectónico a la espectacular silueta de la ciudad “.

Actualmente, Una está siendo diseñada por la firma internacional de arquitectos Adrian Smith + Gordon Gill Architecture (AS + GG), más conocida por diseñar algunos de los más altos y extraordinarios rascacielos del mundo. AS + GG imprimirá en Una su enfoque particular basado en el desempeño que tiene en cuenta factores climáticos y el contexto ambiental en el que se ubica. Con 47 pisos, Una será una maravilla en sí misma; una llamativa fachada esculpida con líneas claras y modernas curvas en forma de cinta, inspiradas en las sinuosas cubiertas de teca del icónico yate Riva, serán la carta de presentación. Las terrazas expansivas aprovecharán al máximo el particular sitio costero, constituyéndose así en el primer proyecto del mercado en décadas, que ofrece vistas panorámicas de 180 grados de Key Biscayne hacia el este, el centro de Miami y Miami Beach hacia el norte, Coconut Grove hacia el sur y a lo lejos, hacia el oeste, Coral Gables.

“Cumpliendo con nuestra filosofía de que la forma está supeditada al rendimiento, vimos la oportunidad única que tiene Una de darle al edificio un poco de actitud en su diseño”, dijo Gordon Gill FAIA, socio co-diseñador y cofundador de AS + GG. “Se trata de un contraste, donde un lado del edificio sostiene todo su peso y el otro lado simplemente está ahí, relajado, mirándote. Me gusta esa actitud, es elegante, es muy cómoda y es súper sofisticada “.

Convencidos del valor de la continuidad en la defensa de una consistencia sólida para crear un edificio atemporal que durará para siempre, AS + GG estará a la cabeza del diseño interior del edificio, asegurando una coherencia estética entre el exterior y el interior.

“Concebimos la arquitectura y el diseño de interiores como un movimiento continuo”, dijo Adrian Smith FAIA, socio co-diseñador y cofundador de AS + GG. “Tanto el exterior como el interior responden a las ideas de una vida suntuosa, un estilo de vida divertido, un ambiente casual y atmósfera relajante”.

El diseño interior estuvo inspirado tanto en el cuidado por el detalle del yate Riva, como en lo mejor de la vida en Miami. Los materiales naturales como el cuero, la madera y la piedra se presentan en colores cálidos, contrastando con los tonos fríos del acero inoxidable. La paleta de colores genera un ambiente atemporal y clásico. Su jardín privado ubicado justo al lado de la bahía, diseñado por la galardonada firma de arquitectura paisajística de Enzo Enea, dará un toque único al entorno del parque urbano

Doronin no solo es conocido por su legendaria atención al detalle y su gran capacidad para identificar lotes de terreno que se constituyen en oportunidades extraordinarias de desarrollo, a la vez que se muestran como barreras para la entrada de la mayoría de los constructores, sino por haber construido algunos de los rascacielos más altos de Europa y más de 71 edificios que abarcan 75 millones de pies cuadrados. El propio Doronin pasó más de un año en búsqueda de un espacio físico que ofreciera un estilo de vida superior frente al mar, en el que pudiese existir una marina privada en un vecindario peatonal, alejado del ruido y la congestión del centro de la ciudad. Un paraíso que ofreciese todas las comodidades que complementan el vibrante estilo de vida de Miami, atractiva para familias jóvenes acomodadas, parejas sin hijos, solteros y personas que viven en espacios muy amplios que buscan una vivienda de tamaño más adecuado, así como compradores e inversores internacionales que buscan seguridad y tranquilidad, con la proximidad al distrito financiero de Miami.

La Brickell Avenue, llamada así por los pioneros de Miami William y Mary Brickell, es conocida como la “Park Avenue” de Miami, debido a su pintoresco dosel de robles antiguos, aceras sombreadas y fácil acceso al distrito financiero de la ciudad, contar con las mejores escuelas privadas, clubes náuticos, refinados supermercados, hospitales de clase mundial, galardonados restaurantes y tiendas de lujo, así como lugares culturales y deportivos para lo más selecto de la cultura mundial.

Una, constará de 135 residencias elegantemente diseñadas, todas con vista a la bahía, que van de dos a cinco habitaciones. Cada residencia contará con entrada privada en ascensor, alturas de techo de 10’8“, cocinas de chef profesional equipadas con electrodomésticos Gaggenau, alcoba principal con armarios y baños separados para él y ella, cuartos de servicio con lavadoras y secadoras grandes y terrazas amplias de 10 pies de profundidad con puertas fácilmente deslizantes de piso al techo y barandillas de vidrio en el balcón que crean un estilo de vida interior-exterior sin fisuras con vistas panorámicas del Océano Atlántico, la Bahía de Biscayne y el horizonte de la ciudad. La torre también incluirá residencias de circulación fluida con exposiciones de océano y ciudad de Este a Oeste en los pisos superiores y dos penthouses con piscinas privadas. Las residencias UNA tendrán un rango entre 1,100 y 4,786 pies cuadrados, con precios que comienzan en $900,000 dólares. Las ventas comenzarán en marzo de 2018 y serán manejadas exclusivamente por Fortune Development Sales.

“Es un privilegio haber sido escogido para manejar las ventas y el mercadeo de Una. Vladislav y Jonathan son constructores muy inteligentes y el lote adquirido se encuentra entre los más codiciados de Miami”, dijo Edgardo Defortuna, presidente y CEO de Fortune Development Sales. “Confiamos en que Una, con su incomparable ubicación en South Brickell y la facilidad de acceso a las principales avenidas y mejores escuelas de la ciudad, tendrá mucha acogida entre familias a nivel nacional e internacional.”

Entre los muchos elementos distintivos que resaltan la experiencia de ser propietario de Una, se encuentran su marina deportiva privada, especial para excursiones por la bahía, tres piscinas, un gimnasio de última generación con áreas de entrenamiento personal y de yoga y gracias a la relación de Vladislav Doronin con la marca de hoteles, Aman, el complejo contará con un spa diseñado bajo la estética de Aman, que ofrece salas privadas de tratamiento de masaje tanto al interior como al aire libre con vista a la bahía.

Otras suntuosidades incluyen un salón de belleza privado, un salón para cenas o eventos, un cine, un área de juegos para niños y sala de juegos para adultos, un salón de propietarios y otro al aire libre, y conserje las 24 horas.

Una es el segundo de los proyectos residenciales del Grupo OKO en Miami. En octubre de 2017, el Grupo inició la construcción de Missoni Baia, un edificio de condominios de lujo con 249 residencias de la famosa casa de moda italiana Missoni.

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Torre UNA: elegancia y sofisticación en Miami

March 9, 2018
La torre de condominios UNA se ubicará a lo largo de la avenida Brickell, cerca del cruce de la Autopista Principal de Coconut Grove y la Avenida Brickell, lo que permitirá a los residentes tener acceso a las principales carreteras y arterias de transporte de Miami. La construcción estará a cargo de Cain International y OKO Group, las ventas serán manejadas por Fortune Development Sales con precios iniciales en 900 mil dólares por unidad.

Adrian Smith + Gordon Gill Architecture -AS + GG-, OKO Group, la firma inmobiliaria Cain International y el despacho de arquitectura paisajística de Enzo Enea, se unieron para realizar este proyecto residencial en Miami, Estados Unidos.

UNA constará de 135 residencias en 47 niveles que irán desde los 102 hasta los 444 metros cuadrados. Cada uno de ellas contará con entrada privada en ascensor, alcoba principal con armarios y baños separados para él y ella, amplias terrazas, así como dos penthouses con piscinas privadas. Las terrazas ofrecerán vistas panorámicas de 180 grados de Key Biscayne hacia el este, el centro de Miami y Miami Beach hacia el norte, Coconut Grove hacia el sur y a lo lejos, hacia el oeste, Coral Gables.

Gordon Gill FAIA, socio co-diseñador y cofundador de AS + GG comentó que “se trata de un contraste, donde un lado del edificio sostiene todo su peso y el otro lado simplemente está ahí, relajado, mirándote. Me gusta esa actitud, es elegante, es muy cómoda y es súper sofisticada”, los arquitectos concibieron el diseño de UNA con la idea de tener un estilo de vida divertido, un ambiente casual y atmósfera relajante.

Entre las amenidades que ofrecerá UNA resaltan la marina deportiva privada, tres piscinas, un gimnasio de última generación con áreas de entrenamiento personal y yoga, además de un spa diseñado bajo la estética de Aman, que ofrece salas privadas de tratamiento de masaje tanto al interior como al aire libre con vista a la bahía.

También incluirá un salón de belleza privado, un salón para cenas o eventos, un cine, un área de juegos para niños y sala de juegos para adultos, un salón de propietarios y otro al aire libre y vigilancia las 24 horas.

Por Mónica Herrera

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Los urbanizadores se quedan sin terrenos frente al mar. Ahora quizás quieran comprarle su apartamento

Cuando Jesús Urdaneta pagó $500,000 por un apartamento de tres habitaciones y dos baños en un modesto edificio en Brickell, pensó que había encontrado el lugar perfecto para que él y su esposa criaran a sus tres hijos: una calle tranquila con poco tráfico, cerca de la Interestatal 95 y Coconut Grove, y una hermosa vista de la Bahía de Biscayne y el Viaducto Rickenbacker.

Pero seis meses después, justo cuando la familia se acostumbraba a su nueva vivienda en 175 SE 25 Rd., Urdaneta recibió una oferta que no podía rechazar: el urbanizador y empresario ruso Vladislav Doronin, presidente del directorio y presidente ejecutivo de la firma de bienes raíces OKO Group, ofreció comprarle a Urdaneta su apartamento de 1,800 pies cuadrados por $1.1 millones.

“Mi primera reacción fue ‘¡Dios mío, nos ganamos la lotería!’ ”, dijo Urdaneta sobre la oferta. “Le decíamos la lotería rusa. Era imposible decir que no. No podíamos creerlo”.

OKO Group dedicó un año a negociar la compra individual de los 61 apartamentos en el edificio, y pagó un total de $48 millones para comprar el edificio de 11 pisos en el 2016.

Pronto empezará a demolerlo.

En momentos que las propiedades vacías frente al mar escasean cada vez más en todo Miami-Dade, los urbanizadores se centran ahora en edificios viejos de apartamentos y los compran a precios elevados. Entonces derriban los edificios viejos y construyen torres modernas de lujo.

El proceso es complicado, pero cuando funciona, puede llevar al nacimiento de edificaciones formidables, y dejar a los antiguos propietarios con los bolsillos llenos.

OKO Group, en alianza con la firma de inversiones Cain International, construirá en el lugar la torre de lujo Una, de 47 pisos, cuyos exteriores e interiores estarán diseñados por la firma Adrian Smith + Gordon Gill Architecture.

La torre tendrá 135 residencias, cada una con entrada privada por el ascensor, con áreas de entre 1,100 y 4,786 pies cuadrados. Los precios oscilarán entre $900,000 y más de $5 millones. Los compradores potenciales pueden ver los modelos de los apartamentos —mucha madera, piedra y piel, tonos cálidos y ventanas del techo al suelo— en el nuevo centro de ventas que ya abrió en el lugar. El edificio debe estar terminado para el 2021.

¿Negocio arriesgado?

Construir una nueva torre de condominios de lujo en momentos en que el mercado está repleto de unidades sin vender pudiera parecer un negocio arriesgado.

Según el reporte más reciente de venta de viviendas de la Asociación de Agentes de Bienes Raíces de Miami, las ventas de apartamentos de lujo en enero aumentaron 58.1 por ciento en comparación con el mismo mes del 2017. Los que compran en efectivo —algo crítico para proyectos como Una, que no tiene financiamiento bancario tradicional— fueron el 42.4 por ciento de todas las ventas en enero. Eso es casi el doble del promedio nacional, de 22 por ciento.

La baja en las ventas año sobre año ha afectado el mercado de apartamentos de lujo, que ya tiene un exceso de inventario y donde la oferta excede con mucho la demanda. Según el informe anual del mercado de EWM Realty International para el 2018, que debe publicarse esta semana, el inventario actual de apartamentos de lujo (con precio de $1 millón y más) en Miami-Dade en enero era suficiente para 40.8 meses. Eso es una baja en comparación con 61.7 meses durante el mismo período del año pasado, pero muy por encima del período ideal de tres a seis meses que refleja un mercado inmobiliario saludable.

Y mientras mayor es el precio, mayor es el inventario: en la categoría de más de $3 millones, la cantidad de apartamentos en inventario es suficiente para 73.7 meses, según EWM. El informe usa información del Southeast Florida Regional Multiple Listing Service.

Pero los constructores de Una alegan que su torre es única y no puede compararse con las torres ya construidas que batallan por cerrar ventas. Con el uso de capital privado en vez de depender de la financiación bancaria tradicional y las llamadas, los urbanizadores pueden lanzar nuevos proyectos mientras otros tienen que limitarse a esperar.

“Si uno tiene confianza en el mercado —y tenemos mucha confianza en Miami— tiene que respaldarlo con su propio capital”, dijo Jonathan Goldstein, presidente ejecutivo de Cain International, firma londinense de finanzas e inversión. “Uno va un poco contra la corriente. Tiene que tener confianza en sus convicciones. Cuando otros [urbanizadores] no tienen acceso al mercado es cuando uno se puede llevar la mejor parte. Pero no nos oponemos a la financiación de terceros si llega en el momento adecuado”.

Doronin y Goldstein opinan que la ubicación única de Una, combinado con el momento específico —no hay planes de construir ninguna torre de lujo al sur de Brickell por el momento— permitirá que el proyecto se destaque y salga adelante.

“Es un vecindario muy establecido, muy privado y tranquilo”, dijo Doronin. “Aquí no se construye desde hace por lo menos 10 años. Tuvimos suerte de poder comprar este lugar. Y a corto plazo nadie más va a construir aquí. No tendremos competencia en South Brickell”.

Doronin también señala que los compradores internacionales prestan especial atención a los proyectos destacados, como Missoni Baia, de OKO y de $350 millones, en Edgewater, y el proyecto Aston Martin Residences, del magnate argentino de supermercados German Coto, que se construye en la boca del río Miami.

Aunque los latinoamericanos todavía son la inmensa mayoría de los extranjeros que compran propiedades en Miami, Mansion Global informa que el interés en lugares como Israel, Rusia y Europa en general sigue aumentado. Miami ya es uno de los principales seis mercados internacionales para personas de alto patrimonio (los que tienen activos de al menos $30 millones), en tercer lugar después de Londres y Nueva York, y por delante de Mónaco, Los Ángeles y San Francisco.

La reciente reforma de la ley tributaria federal, que limita las deducciones por propiedades y el impuesto a las ventas, también pudiera ayudar a atraer a la Florida, donde no hay impuesto estatal, a compradores estadounidenses acaudalados.

“Los primeros 60 días de este año han sido uno de los períodos de ventas más activos que hemos visto en algún tiempo”, dijo Ken Krasnow, director gerente ejecutivo de Colliers International South Florida, una casa de corretaje de bienes raíces que ayuda a las compañías a reubicarse. “El interés en Miami siempre ha sido global, pero el impacto que la nueva ley tributaria tiene en Nueva York y otros estados con altos impuestos estatales va a fortalecer ese interés en Miami”.

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Construction At CMC Group’s Brickell Flatiron Passes The 29th Floor As The First Glass Is Installed

March 7, 2018
Construction at Ugo Colombo and CMC Group’s Brickell Flatiron tower is continuing to cruise as Moss construction crews have surpassed the building’s 29th floor and glass has begun to be installed. Construction is expected to continue to move at a rate of one full floor level completed every week until top-off in December of 2018. As of December 1, 2017, more than 70% of the project’s 549 units have been sold and are currently under hard contract, with the building’s total sales volume in excess of $300 million. Delivery of Brickell Flatiron is expected in mid-2019.

Brickell Flatiron is a 64-story, 549-unit luxury condominium tower from famed Miami developer Ugo Colombo and his CMC Group. It will be among the tallest residential towers in the United States when completed, rising 736′. The tower was designed by Luis Revuelta with an iconic flatiron shape with interiors by Massimo Iosa Ghini of Italy’s Iosa Ghini Associati. Units range from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron’s amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc.

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47-story Una condo tower will rise on Brickell Waterfront

March 7, 2018
Missoni Baia is still under construction, but OKO Group and developer Vlad Doronin are unveiling a new luxury condo project. OKO Group will partner with international real estate investment firm, Cain International, to develop the 47-story Una on the Brickell Waterfront. The soaring tower will be designed by Adrian Smith + Gordon Gill Architecture, the firm behind Jeddah Tower in Saudi Arabia.

Una will be located near the crossroads of Coconut Grove’s Main Highway and Brickell Avenue at 175 SE 25th Road. Views here are key, with 180-degree sweeping vistas of Key Biscayne to the east, downtown Miami and Miami Beach to the North, Coconut Grove to the South, and views of Coral Gables and beyond to the west.

The 135-unit Una will start at $900,000, with and floor plans range from two to five bedrooms. Every unit will include features like a private elevator entry, chef’s kitchens with Gaggenau appliances, impressive closets, and 10-foot deep terraces with floor-to-ceiling doors and glass balcony railing to take in those views.

Building amenities include a spa and fitness center, private marina, three pools, dedicated beauty suite for private services, cinema, kids’ splash pad, and outdoor lounge.

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Real estate developers ran out of waterfront property. Now they might want to buy yours.

March 6, 2018
When Jesus Urdaneta paid $500,000 for a three-bedroom, two-bath unit in a modest condo building in Brickell, he thought he had found the perfect place for him and his wife to raise their three kids: A quiet cul-de-sac with little traffic, close proximity to Interstate 95 and Coconut Grove, and beautiful views of Biscayne Bay and the Rickenbacker Causeway.

But six months later, just as the family had settled into their new digs at 175 SE 25th Rd., Urdaneta got an offer he couldn’t refuse: The Russian developer and businessman Vladislav Doronin, chairman and CEO of the real estate firm OKO Group, wanted to buy Urdaneta’s 1,800-square-foot condo — for a whopping $1.1. million.

“My first reaction was ‘Oh my God, we won the lotto!’” Urdaneta said about the offer. “We called it the Russian lottery. It was impossible to say no. We couldn’t believe it.”

OKO Group spent a year negotiating individual sales of all of the 61 units on the property, paying a total of $48 million to buy the 11-story building outright in 2016.

Soon, they will tear it down.

With vacant waterfront property in short supply throughout Miami-Dade County, real estate developers are increasingly targeting older, existing condo buildings and buying out the owners at premium prices. Then the old building comes down, replaced by a bigger, state-of-the-art luxury tower.

The process, known as condo termination, is complicated and has many moving parts. But when it works, it can lead to the birth of a formidable new property — and leave the owners of aging condos with an unexpected windfall.

OKO Group, in partnership with the investment company Cain International, will turn the 25th Road site into the home of Una, a swooping 47-story luxury tower, with exteriors and interiors designed by the international architectural firm Adrian Smith + Gordon Gill Architecture.

The tower will hold 135 residences, each with a private elevator entry, ranging in size from 1,100 to 4,786 square feet. Prices will go from $900,000 to more than $5 million. Potential buyers can see what the final units will look like — lots of wood, stone and leather, warm tones and floor-to-ceiling windows — by visiting a new sales center now open at the site. Construction is targeted to be completed by 2021.

Risky business?

Launching a new luxury condo tower at a time when the market is glutted with unsold inventory might seem like risky business.

According to the most recent home sales report by the Miami Association of Realtors, sales of luxury condos in January surged 58.1 percent year over year. Cash buyers — critical for projects such as Una, which has no traditional bank financing in place — comprised 42.4 percent of all sales transactions in January. That is nearly double the national average of 22 percent.

The year-to-year bump in sales has made a dent in the overstocked luxury condo market, but supply still far exceeds demand. According to the 2018 EWM Realty International Annual Market report due to be released this week, the current inventory of available luxury condos ($1 million and above) in Miami-Dade in January was at 40.8 months. That’s down from 61.7 months over the same period last year, but still way above the three-to-six-month sweet spot that reflects a healthy real estate market.

The higher the price, the larger the inventory, too: In the $3 million-plus price range, the current inventory of luxury condos is at 73.7 months, according to EWM. The report uses data from the Southeast Florida Regional Multiple Listing Service.

But the developers of Una argue that their tower is so unique, it can’t be lumped in with the existing luxury condo towers struggling to close sales. By using private equity instead of relying on traditional bank financing and presales, these developers can launch their new project while other developers are taking a wait-and-see attitude.

“If you have confidence in a market — and we have a lot of confidence in Miami — you have to back it with your own equity,” said Jonathan Goldstein, CEO of Cain International, a London-based funding and investment firm. “You’re going against the grain a little bit. You’ve got to have the confidence of your convictions. It’s during the times when other [developers] can’t access the marketplace when you can hopefully do the best. But we would not be averse to third-party financing if it becomes available at the right time.”

Doronin and Goldstein believe the Una’s unique location combined with timing — no other luxury tower is currently slated to break ground south of Brickell — will allow the project to stand out from the pack and buck market forces.

“This is a very established neighborhood, very private and quiet,” Doronin said. “There has been no new construction here for the last 10 years. We were lucky to manage to purchase this site. And for the near-future, no one else is going to build here. We won’t have any competitors in South Brickell.”

Doronin also points out that international buyers pay special attention to high-profile projects, such as OKO’s $350 million Missoni Baia tower in Edgewater and the Aston Martin Residences project from the Argentine supermarket magnate German Coto under construction at the mouth of the Miami River.

While Latin Americans still make up the overwhelming majority of foreign real estate buyers in Miami, Mansion Global reports that interest from territories such as Israel, Russia and Europe continues to grow. Miami is already ranked as one of the top six international home-buying markets for the super-wealthy (defined as having assets of $30 million or more), coming in third after London and New York and ahead of Monaco, Los Angeles and San Francisco.

The recent federal tax reform bill, which caps deductions for property and sales taxes, could also help lure more high-worth U.S. buyers to Florida, where there is no state tax.

“The first 60 days of this year has been one of the most active sales periods we’d seen in a while,” said Ken Krasnow, executive managing director for Colliers International South Florida, a commercial real estate brokerage that helps companies relocate. “The interest in Miami has always been global. But the impact the new tax laws are having on New York and other high-tax states are only going to make that interest stronger.”

How they did it

The process of identifying an older building and buying out its tenants for redevelopment is lengthy and involved. Gerard Yetming, a former broker at CBRE South Florida now working with Colliers, said the first step is to look at existing properties in desirable locations and figure out what the value of the land would be if it was vacant.

You also need to make sure the zoning codes at the location allow enough development to make the investment profitable. The building at 175 SE 25th Rd. was built in 1971 at a height of 11 stories. But according to the Miami 21 Zoning Code, the land is entitled for construction of a building with a height of up to 48 stories.

Once the potential worth of the land is calculated, the brokers figure out the price of improvements needed to bring the older structure to present-day building codes (stronger windows, new roofs, refurbished elevators).

If the difference between cost of repairs and the value of the land is large enough, the property becomes lucrative to a developer, as long as a majority (90 percent) of the condo owners in the building are willing to sell.

Yetming said he met with the condo association and its members in April 2015 to see if they were amenable to a deal. They made specific offers to each of the 61 owners based on the size and location of their individual condos (units with bay views or higher floors, for example, got more).

“You have to put yourself in the owners’ shoes,” said Yetming, who is now an executive vice president at Colliers International. “The way they sell their condo should remind them of the way they bought it. You take everything into consideration from corner units to bay views in your offer, so the owners feel they are an active participant in the sale.”

Four months after the initial presentation, Yetming said 100 percent of the owners in the building had agreed to sell, for a total price of $48 million.

“There’s more supply than demand in the market at the moment, so if you live in an older building and you’re trying to sell, it’s going to be harder to compete with newer units,” Yetming said. “If you can sell your condo for more than it’s worth, that’s a great deal for anyone.”

Hurricane Irma’s close call in September was a reality check for many waterfront property owners, who were braced for a worst-case disaster scenario and worried their buildings might not even be left standing after the monster storm.

“When Irma came through, a number of waterfront communities suffered damage and are still dealing with repairs and deciding how they’re going to proceed,” said Steven Wernick, a land use attorney and partner at Akerman LLP and past chair of the city of Miami’s Waterfront Advisory Board. “Some of these older properties, especially buildings from the 1970s, often don’t conform to recent building codes and are not well prepared for sea level rise. They’re in flood zones.

“Irma has spurred some condo associations and owners to assess whether they want to spend the time and money to make upgrades to aging structures. In some situations, it might be in the best interest of current owners to just sell the property.”

Una is the latest luxury tower to be built on the former location of an outdated building, but it’s far from the first. Edgardo Defortuna, president and CEO of Fortune International Group, said his company is currently developing a new project on the former site of the Playa de Varadero condo at 18801 Collins Ave., which was built in 1965.

Other examples include the Residences by Casa/Armani in Sunny Isles Beach and the upcoming 17-story luxury condo at 5775 Collins Ave., which will be built on the site of the Marlborough House condo by Brazilian billionaire José Isaac Peres.

While Defortuna won’t go as far as to call it a trend, he said you can expect to see more of this kind of strategy used in the industry as Miami’s next real estate cycle gears up in the coming years.

“This kind of development is a thing of the future: It’s actually here now,” Defortuna said. “Real estate in Miami is almost a new game now, because it’s very very difficult to find a site that is readily available. Developers have to be creative and figure out a way to solve that issue. And this way of developing is a win-win, because the old condo owners are making a nice profit on their property.”

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Billionaire developer to launch sales for new Brickell condos priced in $900,000s

March 6, 2018
OKO Group, led by billionaire Russian-born developer Vladislav Doronin, has unveiled plans for its new condominium tower in Miami’s Brickell area. The 47-story Una, at 175 S.E. 25th Road, was designed by Adrian Smith + Gordon Gill Architecture, which also designed Jeddah Tower in Saudi Arabia – the world’s second-tallest building. It will have 135 units. With prices starting in the $900,000s, they will be sized from 1,100 square feet (two bedrooms) to 4,786 square feet (five bedrooms).

Cain International, which has developed over 20,000 residential units, is partnering with OKO Group on the project.

To read the full article, click here.

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Vlad Doronin’s OKO Group launches new condo project in Brickell

Slowdown? What slowdown? Russian billionaire Vlad Doronin is launching a new project in Brickell.

Doronin’s OKO Group and investment firm Cain International released plans for Una, a 47-story, 135-unit luxury waterfront condo building for the site at 175 Southeast 25th Road. Fortune Development Sales, which is handling OKO’s Missoni Baia tower in Edgewater, was hired as the exclusive sales and marketing firm, according to a release. Units will range from 1,100 square feet to 4,786 square feet and start at $900,000.

In October, the developer broke ground on Missoni Baia, a 249-unit luxury condo building, despite the market-wide slowdown in luxury condo sales. A recent report found that Miami-Dade has four years of existing luxury inventory – excluding the preconstruction market. Nearly 2,800 units are on the market asking at least $1 million, according to Condo Vultures Realty.

Una will be designed by Adrian Smith + Gordon Gill Architecture and will include two penthouses with their own pools. OKO paid $48 million for the nearly one-acre parcel, the site of the former 11-story, 25 Bay Tower Condo building, in 2015.

A year later, OKO partnered with Cain International to buy a 2-acre parcel at 720 Northeast 27th Street, also in Edgewater, for $54 million.– Amanda Rabines

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Vladislav Doronin’s OKO Group Announces New Waterfront Tower, Una, Set To Soar Near Crossroads Of Key Biscayne And Coconut Grove In Brickell

March 6, 2018
OKO Group, led by founder Vladislav Doronin, just announced its second Miami project: Una. The monumental condominium is the only luxury tower scheduled to break ground south of Brickell, in the area that was once the city’s birthplace of modern high-rise living in the 1970s.

Una will be located at Brickell Avenue’s southernmost point at 175 SE 25th Road near the crossroads of Coconut Grove’s Main Highway and Brickell Avenue.

This established residential neighborhood will allow Una residents to “Benefit from accessibility to major roadways and the main transport arteries of Miami in only a few minutes,” said Doronin, Chairman and CEO of OKO Group. “The tower will offer striking style, intimacy, exclusivity, and a superior range of first-class amenities that celebrates the joie de vivre of Miami.  Destined to become the new landmark on the Brickell skyline, Una, thanks to its internationally-renowned design team, will further define Miami as one of the world’s leading destinations for elegant living and sophisticated design.”

Una is being designed by Adrian Smith + Gordon Gill Architecture (AS+GG), the internationally acclaimed architects known for designing extraordinary skyscrapers like Saudi Arabia’s Jeddah Tower. Their form follows function philosophy considers climate and environmental context when devising plans for the 47-story tower whose design is inspired by the expertly crafted Riva yacht. AS+GG will be designing the interiors as well exteriors to ensure a cohesive aesthetic that features a timeless palette of natural materials like leather, wood and stone.

Known for his attention to detail, Doronin spent over a year scouting a location that would offer residents Miami’s coveted waterfront lifestyle away from the congestion of Downtown. This site is the first of its kind available on the market in decades and the 180 degree terraces offer beautiful, panoramic views of Key Biscayne, Downtown, Miami Beach, and Coconut Grove. The urban park setting will be further enhanced with a private bayside garden by Enzo Enea’s award-winning landscape architectural firm Enea Garden Design, Inc.

Una will consist of 135 bay view residences ranging from two to five bedrooms that have flow-through floorplans. They offer private elevator entry, 10’8” ceilings, chef’s kitchens with Gaggenau appliances, master suites with his and hers wings, laundry rooms with washers and dryers, and expansive terraces featuring seamless floor-to-ceiling doors and glass balcony railings. Amenities include: a private marina, three pools, a state-of-the-art fitness center with yoga and personal training areas, a spa featuring indoor and outdoor private massage treatment rooms, a cinema, and 24-hour concierge. Residences start at $900,000 and sales are expected to begin in March 2018 which will be handled by Fortune Development Sales.

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CEO of UnitedHealth Group in Brazil buys at Jade Signature

March 5, 2018
The CEO of UnitedHealth Group in Brazil just closed on another luxury condo in South Florida.

Signature Mansion Corp., a company controlled by Claudio Lottenberg, paid $6.43 million for unit 3601 at Jade Signature in Sunny Isles Beach. Fortune International Group completed the 57-story, 192-unit tower at 16901 Collins Avenue earlier this year.

Lottenberg became president of the health care company in 2016, according to published reports. He also created Lotten Eyes, a chain of São Paulo eye clinics, and sold it to UnitedHealth that year for about $200 million.

In September, Lottenberg and his wife, Ida Sztamfater, paid $10.7 million for a condo at Fendi Château Residences in Surfside.

His Jade Signature unit has five bedrooms and 4,738 square feet of interior space, plus a nearly 1,500 square terrace, according to marketing materials.

The Sunny Isles building opened in January at 96 percent sold. Remaining units start at $4.8 million and 3,312 square feet and penthouses range from $14.2 million to $32.9 million. Buyers include Brazilian soccer pro Douglas Costa.

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Miguel Borja, campeón colombiano estrella del Palmeiras brasilero, escoge Missoni Baia como su lugar de residencia en Miami

March 5, 2018
Miguel Borja, joven futbolista colombiano estrella del Palmeiras brasilero, equipo insignia de Sao Paulo con unos 17 millones de hinchas, y elegido como el Mejor Jugador de América en el 2016 por la encuesta del diario El País de Uruguay, ha escogido Missoni Baia, la lujosa torre de condominios de 57 pisos ubicada en Edgewater, uno de los vecindarios de mayor crecimiento en Miami, como su lugar de residencia.

Borja, de 24 años, se convirtió en la cuarta más cara transacción de la historia del fútbol brasilero, cuando el Palmeiras pagó 10.4 millones de dólares por su traspaso. Sus actuaciones en el club de Sao Paulo lo pusieron en la órbita del Director Técnico de la Selección Colombia, José Pekerman, quien lo convocó para los partidos amistosos contra Corea del Sur y China y el delantero colombiano no falló, marcando dos goles en la victoria 4-0 de su equipo contra China, lo que amplía sus posibilidades de ir al Mundial de Rusia 2018 con el equipo de su país.

En el 2016, cuando jugaba para el club Cortuluá en el Torneo Apertura del campeonato colombiano, Borja marcó un total de 19 goles en 21 partidos, batiendo el record de más goles marcados por un jugador en un torneo de liga y su equipo, Cortuluá, que el año anterior había quedado en el puesto 17 de la clasificación, llegó a las semifinales.  El joven delantero fue transferido entonces al Atlético Nacional y en éste marcó dos goles en el partido de ida y dos más en el de vuelta en las semifinales de la Copa Libertadores (el torneo más importante de clubes de fútbol en Latinoamérica). Además, ya en la final, marcó el gol definitivo contra el equipo ecuatoriano Independiente del Valle, en una serie que el Atlético Nacional terminó ganando 2-1, convirtiéndose en campeón de América.

Missoni Baia representa el primero de varios proyectos de OKO Group, la firma de desarrollos inmobiliarios fundada por el magnate de los bienes raíces y prolífico desarrollador internacional, Vladislav Doronin, en Miami, así como las primeras residencias bajo la marca Missoni, la legendaria casa de moda y diseño italiana. Una torre de 649 pies de altura, con 249 residencias elegantemente elaboradas, cada una de entre una y cinco alcobas, y de 72 a 352 metros cuadrados.

La arquitectura contemporánea de Missoni es la visión de Asymptote Architecture, una firma con sede en Nueva York liderada por Hani Rashid y Lise Anne Couture, pioneros en la convergencia entre tecnología y arte, en arquitectura. La firma es mejor conocida por sus proyectos internacionales que incluyen al hotel Yas Viceroy Abu Dhabi y el próximo a abrirse Hermitage Modern Contemporary Museum, en Moscú.

“Para mí, Miami es la mejor ciudad de los Estados Unidos. Disfruto su clima todo el año y la diversidad de culturas, especialmente la latinoamericana. Además, me encantan sus playas y vistas”, comentó la joven estrella del fútbol. “Cuando me presentaron el proyecto de Missoni Baia quedé encantado, desde mi apartamento en el lado norte de la torre ,  tengo unas vistas impresionantes, incluido el Skyline de Miami. Sumado a esto, que sea un edificio construido por Vladislav Doronin me dio mucha confianza, ya que es un desarrollador reconocido mundialmente”.

Los residentes de Missoni Baia tendrán acceso a un conjunto completo de lujosas comodidades, integrando el confort de un lujoso resort a un ambiente residencial privado. Entre las características se incluirá una cubierta diseñada para tomar el sol con cabañas bien equipadas, una piscina olímpica, piscinas pequeñas de agua caliente y fría, zona acuatica para niños, y piscina de borde infinito en la terraza frente a la bahía, así como cancha de tenis elevada, y un espacioso gimnasio y spa.

Missoni Baia da la bienvenida a Miguel Borja, como uno más de sus ilustres residentes, en una torre diseñada para la gente selecta, que le gusta el mejor estilo de vida, en la ciudad de moda en los Estados Unidos.

Para información adicional acerca de Missoni Baia , por favor llame al 305.800.7000 o visite missonibaia.com.

INFORMACIÓN DE VENTAS

Fortune Development Sales es el agente de ventas y mercadeo de Missoni Baia. Si requiere información adicional sobre la disponibilidad de condominios o si desea programar una cita, le agradecemos ponerse en contacto con la oficina de ventas al +1 305.800.7000 o visitar el sitio missonibaia.com

ACERCA DEL GRUPO OKO

OKO Group es una firma internacional de desarrollo inmobiliario fundada por Vladislav Doronin, actual Presidente y CEO. El Grupo OKO tiene sus cimientos en la formidable experiencia del Sr. Doronin, uno de los constructores más exitosos y respetados en Europa, con un historial inigualable en la construcción de más de 75 millones de pies cuadrados de espacio comercial, residencial unitario y 71 edificios de lujo de clase mundial como Fundador de Capital Group.

El Grupo OKO trae consigo no sólo una enorme fortaleza financiera al mercado estadounidense, sino también una pasión por trabajar con los mejores arquitectos y diseñadores del mundo, incluyendo la arquitecta ganadora del Premio Pritzker, Zaha Hadid, la importante firma de arquitectura americana Skidmore, Owings & Merrill, la afamada Hani Rashid, de Asymptote Architecture con sede en Nueva York, la firma italiana Iosa Ghini Associati y el aclamado diseñador francés Jacques Grange. El actual portafolio de OKO Group en Estados Unidos incluye propiedades y proyectos de desarrollo en Miami y Nueva York. Como propietario y presidente de Aman, una de las marcas de hospitalidad más admiradas del mundo, la cartera de negocios global del señor Doronin se extiende por Europa, Asia y Estados Unidos.  Encuentre mayor información sobre el Grupo OKO en okogroup.com

ACERCA DE EDGEWATER MIAMI

Edgewater es un enclave residencial localizado entre el centro de Miami, el dinámico Distrito de Diseño y el Wynwood Arts District. Edgewater se encuentra cerca de tiendas y restaurantes de Midtown Miami, del Centro Adrienne Arsht de Artes Escénicas, el American Airlines Arena y los lugares de interés arquitectónico del centro de Miami, incluyendo el famoso Museo de Arte Pérez de Miami. Ofrece fácil acceso al Aeropuerto Internacional de Miami, que recientemente completó una expansión de $ 3 mil millones de dólares. El diseño avanzado de Missoni Baia aportará un nuevo nivel de sofisticación uno de los barrios del paseo marítimo más atractivos de Miami.

ACERCA DE MISSONI

Missoni es una de las casas de moda más destacadas del mundo. El estilo de Missoni ha evolucionado a partir de una colaboración de larga data entre los esposos Ottavio y Rosita Missoni. Ottavio Missoni llegó a Londres en 1948 para los Juegos Olímpicos de ese año: allí se clasificó para la carrera final de obstáculos de 400 metros. Mientras estaba en Londres, conoció a Rosita Jelmini, nieta de una familia de fabricantes de Golasecca, en el norte de Italia. Después de casarse en 1953 comenzaron a hacer tejidos en un pequeño taller en el sótano de su primera casa en Gallarate, y ese sería el inicio de la primera gran casa de moda y diseño en Italia. El camino de Ottavio y Rosita ha sido seguido por sus hijos y nietos, quienes hoy mantienen vivo el espíritu del estilo Missoni en todo el mundo. Angela Missoni ha sido la directora creativa de la empresa desde 1997 y se ha comprometido a inyectar de nueva energía la marca de la familia, conjugando con seguridad tendencias e ideas. Bajo su dirección, las pasarelas de Missoni y sus comunicaciones continúan marcando un hito a nivel internacional. Luca Missoni, hermano de Angela, es el Director Artístico del Archivo Missoni; actualmente se encuentra convirtiéndolo en un proyecto para promover y valorizar la herencia patrimonial artística de la moda de su compañía. Encuentre mayor información sobre los Missoni en missoni.com.

LA ARQUITECTURA ASYMPTOTE

Asymptote Architecture, es una asociación entre Hani Rashid y Lise Anne Couture que en los últimos años se ha embarcado en una serie de proyectos ambiciosos y desafiantes en todo el mundo. En cada proyecto han enfocado su atención en la creación de obras arquitectónicas interesantes y atractivas, prestando especial atención a los avances tanto en el pensamiento como en la conceptualización de nuevas posibilidades espaciales, formales y tecnológicas. Entre sus trabajos más recientes están dos nuevos proyectos para Moscú, el nuevo Museo Hermitage de arte contemporáneo y moderno y una nueva torre de 150 metros construida en la propiedad ZIL en el centro de Moscú. Junto a estos proyectos otras obras notables de Rashid y Couture incluyen el Yas Marina Hotel en Abu Dhabi y el ARC Multimedia Museum en Daegu Corea del Sur. Asymptote Architecture tiene oficinas en la ciudad de Nueva York y Viena, Austria. Para mayor información sobre Asymptote Architecture le invitamos a visitar www.asymptote.net.

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Foreign Buyers Increasingly Interested in U.S.-Based Real Estate

March 2, 2018
In the year between April 2016 and March 2017, Chinese buyers spent $31.7 billion on residential real estate in the United States—the most of any foreign buyer group, according to a National Association of Realtors (NAR) report. But since mainland China tightened restrictions in August 2017 on how much capital residents can get out of the country, that spend has certainly dropped.

“There’s definitely been a decrease in spending from Chinese buyers—without question,” said Mauricio Umansky, the CEO and founder of Los Angeles-based brokerage, The Agency.

But emerging groups of foreign buyers, which vary somewhat by market, are filling in the gap, experts say.

“Foreign buyers make up a significant presence in the U.S. luxury market that will only increase as generations come here to study and geopolitical and safety factors continue to play a role,” said Shahab Karmely, the CEO of New York-based development firm KAR Properties, who is currently constructing properties in Miami.

“It’s just that at any given point, who the front runners are changes,” he continued, noting that when he got his start in real estate in the 1980s, Japanese buyers were purchasing a bulk of real estate, whereas in 2017, they only made up 2% of foreign property purchases, according to the NAR report.

Jonathan Genton, the founding partner and CEO of L.A.-based Genton Property Group, agreed. “You turn off one faucet,” he said, “and another one opens.”

In Los Angeles, Asian buyers remain the most active   

At Mr. Genton’s 59-unit Four Seasons Private Residences project in Beverly Hills, which he launched in Singapore and Jakarta, Indonesia, Asian buyers are showing up in a big way. “The influx of capital from Hong Kong has continued unabated,” he said.

He said he’s also seen more money coming from Taiwan of late—a sign that perhaps some Chinese buyers have diverted some funds to one of these places.

Buyers from Vietnam and Thailand, which weren’t there at the start of the sales process, are also becoming a bigger presence as he approaches the 50% sold mark, as are investors from Dubai and Kuwait in the Middle East, as well as buyers from Georgia and Turkey.

“Everyone recognizes the stability and security of the U.S. market more than ever before,” he said, noting that 60% to 70% of the building’s eventual owners will likely be foreigners.

Like Mr. Genton, Mr. Umansky said he’s seen an increase in money coming from Taiwan and Hong Kong as money from mainland China has decreased, but that the real buyer group that’s emerged of-late in the luxury L.A. market are Brits.

In total, Mr. Umansky said that foreign buyers purchased about 10 of the 35 homes that The Agency sold in the Southern California market for over $20 million in 2017—a significant piece of the overall pie.

In New York, the trend toward Asian buyers is also continuing

Like in Los Angeles, broker Rick Pretsfelder of Leslie J. Garfield said that Asian buyers are the most prevalent foreign buyer group that he’s seen this year in Manhattan, representing about 30% to 35% of attendees at high-end showings, and 10% to 15% of purchasers.

“I haven’t seen a downturn in the number of Chinese clients who are interested in purchasing real estate,” Mr. Pretsfelder said, noting that many of them are particularly interested in townhouses, including the most expensive listings he’s currently showing.

Buyers from Taiwan and South Korea are also prevalent, he said, while buyers from Eastern Europe and Russia—common purchasers of townhouses seven or eight years ago—are nowhere to be seen.

In Miami, Latin American buyers still rule

However, in Miami, Asian buyers—including those from mainland China—have never made up a huge part of the foreign buyer mix, said Vanessa Grout, the president of CMC Real Estate, the sales and marketing arm of the CMC Group, which is currently involved with the Brickell Flatiron project.

“I went on four trips to China, and we did see a few buyers from there,” she said, “but it was more of a hope that didn’t unfold the way we anticipated it to.” A likely factor that has kept Chinese buyers and other Asian buyers from purchasing in Miami is the fact that there are no direct flights at this time.

Instead, Latin American buyers—many of whom also must contend with outbound currency restrictions from their country of origin, Ms. Grout noted—have always had the strongest presence in Miami.

And just as Chinese buyers have become less significant players in Los Angeles, Venezuelan buyers have diminished in today’s property market in Miami, likely because anyone who could get their money out of the country after the financial crisis there worsened in early 2017, already did, Ms. Grout said. Argentinian buyers have also lost their majority status.

Instead, buyers today are largely from Colombia, Peru, Mexico and Chile, Ms. Grout said, noting that South and Central American buyers will purchase about 60% of the properties in the 549-unit Brickell Flatiron project. Another 25% to 30% will come from Europe—mainly Italy—while only the final 10% will come from the states.

At his two Miami-based projects—One River Point in downtown Miami and 2000 Ocean in Hallandale Beach—foreign buyers are also likely to make up a significant portion of the total buyers, Mr. Karmely said. In fact, he expects 90% of the downtown units to go to foreign buyers, with almost all of them coming from Latin America.

“Colombia is big right now,” Mr. Karmley said, noting that his sales team is going there for a six-day visit in two weeks.

“Brazil is also coming to life again, and Mexican buyers are back in a big way,” he said, explaining that the latter group took a pause to see if the Trump presidency impacted their ability to purchase in the U.S.

In his just-launched beach project, Canadians have shown some early interest, Mr. Karmely said, although their motivation to buy, which is more about lifestyle than security, depends entirely on whether the exchange rate is in their favor. “When the Canadian dollar is strong, they’re all over the place,” he said. “But when it’s not, their spending always dries up.”

Although the first two sales went to Americans,  early visitors have included Israelis, Europeans and Russians, along with Latin American buyers, of course.

As the prevalent foreign buyer group changes, just as it always has, Mr. Karmely emphasized that the bigger story here is how foreign buyers’ desire to purchase U.S.-based real estate has continued to expand and accelerate.

And that in Miami, they’ve expanded their interest away from the beach and into the downtown core, where four or five years ago, no foreign buyer would have looked, he said. “This change has been transformational,” he said. “While New York is a mature market, Miami is just coming into its own.”

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World Cup Soccer Star Miguel Angel Borja Hernandez Purchases Condo In Missoni Baia

March 2, 2018
Soccer phenomenon Miguel Borja, who was named South America’s “Football of the Year” in 2016, has purchased a north facing, luxury waterfront condominium at Missoni Baia. The 57-story high-rise, developed by OKO Group and headed by international real estate magnate, Vladislav Doronin, is the first-ever branded residences from the legendary Italian fashion and design house, Missoni, revered by Brazilians and the world’s most stylish.

Borja who plays forward for the Brazilian club Sociedade Esportiva Palmeiras is the fourth highest paid soccer player in Brazil. As a native of Colombia, has enjoyed an illustrious career competing in the 2016 Summer Olympics in Brazil for the Colombian national team, placing seventh in the games before being eliminated in the quarter finals. Borja was crowned South America’s “Footballer of the Year” in 2016, a prestigious title shared by a storied list of iconic players such as Pelé, Neymar and Ronaldinho. In June he will play for the Colombian national team at the upcoming FIFA World Cup in Russia.

“What attracted me to Missoni Baia is the fact that I don’t have to leave my home if I want to enjoy a fun day with my kids at the swimming pool, or work out at the gym or unwind in the spa,” said Borja. “The Edgewater neighborhood not only enjoys a central location and beautiful views of the Miami skyline, but also provides the safety and privacy I seek for my young family.”

Missoni Baia will rise 649′ and feature 249 condo residences situated along 200′ of frontage on Biscayne Bay. Prices start in the $500,000’s for a 1 bedroom residence. Units range from 1 to 5 bedrooms, and 776 SF to 3,788 SF along with three duplex townhomes. Missoni Baia was designed by Hani Rashid of Asymptote Architecture, who are pioneers in the convergence of art and technology in architectural design. Missoni Baia will feature minimalist modern design and architecture to maximize natural light with exterior sculptural, structural columns wrapped in aluminum framing the building. The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities. Amenities were designed in collaboration with Missoni and offer the comforts of a luxurious resort in a private residential setting. Features include a flow-through deck designed for all-day sunbathing with well-appointed cabanas, 5 swimming pools including an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool, and an infinity-edge pool on the Bayfront Terrace, elevated tennis court and an expansive fitness center and spa overlooking the bay.

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Sky High

Life at the top has always been good, but it’s about to get better thanks to the newly-unveiled Brickell Flatiron Penthouse Collection that embodies the elegance and sophistication of Italian design.

Read the full article.

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Entrevista exclusiva con Edgardo Defortuna, Presidente, CEO y Fundador del Fortune International Group

February 28, 2018
Si bien el boom inmobiliario en el Gran Miami culminó hace un par de años, la situación está lejos de la debacle de finales de la década anterior. De hecho, hay señales alentadoras sobre una posible vigorización del mercado este año.

“El 2017 fue sorprendentemente mejor que 2016, y el 2018 ha empezado con una dinámica parecida a la del año anterior”, dijo a Latin Trade Defortuna, quien cuenta con 30 años de experiencia en el mercado.

Según la Miami Association of Realtors, las ventas de casas y condominios usados cayeron respectivamente 3 y 3.6 por ciento en 2017, pese a lo cual sus precios crecieron 11 y 6 por ciento. Más aún, después de un diciembre favorable, en enero de 2018, las ventas de condominios aumentaron 8 por ciento interanual y las de casas crecieron 2 por ciento. Las ventas de condominios de lujo saltaron 48 por ciento en diciembre y se expandieron un 29 por ciento adicional en enero.

Para Defortuna, el mercado ha mejorado por varios factores, incluyendo la menor fortaleza del dólar frente a varias monedas de América Latina, el impacto de la reciente reforma impositiva del presidente Donald Trump, y la llegada a Miami de empresas estadounidenses y latinoamericanas.

“La migración empresarial a Miami se nota en la dinámica de los alquileres de oficina. Muchos espacios clase A están ocupados al 90 por ciento”, explicó el ejecutivo. Esa migración, en conjunto con factores tales como el arribo de más estudiantes a las universidades de Miami, también ha impulsado la demanda por alquileres.

Los constructores han aprovechado esa demanda para desarrollar megaproyectos como la torre Panorama. Fortune, la empresa de Defortuna, maneja en exclusiva los alquileres de este rascacielos de 85 pisos (el más alto al sur de Manhattan en la costa Este de los Estados Unidos) ubicado en el distrito financiero de Brickell, y escencialmente orientado a jóvenes ejecutivos que buscan grandes espacios de esparcimiento al interior del condominio.

El mercado también sigue absorbiendo proyectos de lujo en pre-construcción. El caso del Ritz-Carlton Residences Sunny Isles, es un ejemplo. “Tenemos vendido el 70 por ciento del proyecto, incluyendo tres de cinco penthouses”, mencionó Defortuna como muestra del apetito por desarrollos que, como éste, ofrecen acabados del más alto nivel, vista al mar y todas las comodidades de un hotel cinco estrellas en el hogar (Ritz-Carlton será el administrador del condominio una vez completado en 2019).

Parte del atractivo en el segmento de lujo en particular es que Miami sigue siendo “barato” para muchos compradores. “Un proyecto como éste (el Ritz-Carlton Sunny Isles) puede costar entre US$1,450 y US$1,550 por pie cuadrado, mientras que en Nueva York puede costar entre US$4,000 y US$4,500, y en Londres aún más”, explicó Defortuna.

El ejecutivo espera que las buenas noticias para la construcción en Miami continúen en el corto plazo. “Vamos a tener que comenzar a lanzar nuevos proyectos a finales de 2018 porque para entonces la oferta de pre-construcción va a estar básicamente absorbida”, dijo.

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Lujo en el corazón de Miami: Brickell Flatiron

February 28, 2018
Viajamos a Miami, al corazón de Brickell, ese distrito financiero que día a día crece a una velocidad impresionante y que ha sido, junto con el downtown, la ciudad preferida de los latinoamericanos, el núcleo de la transformación de un destino turístico de playas y compras, a una urbe capitalina sin precedentes en el Sur de la Florida.

Allí nos encontramos con un proyecto que avanza a pasos agigantados, y que será sin duda, la nueva joya arquitectónica de la región del prestigioso desarrollador italiano, Ugo Colombo: Brickell Flatiron.

Imponente, así es esta torre, imaginada para transformar el paisaje urbanístico de una ciudad que se eleva a la modernidad. La curvilínea torre de 64 pisos, actualmente en el piso 17 de su construcción, fue diseñada por el reconocido arquitecto Luis Revuelta, con interiores del famoso diseñador italiano Massimo Iosa Ghini. Con hermosas vistas de la bahía y de toda la ciudad, BFI será, en todo su esplendor, un edén de lujo y confort, en el centro de la acción.

Entre sus características y comodidades de lujo presenta en los pisos 17 y 18 una piscina estilo resort, sala de cine, salón de vinos, sala de eventos, cuarto de juegos y centro de negocios. El Sky Spa en el piso 64 incluirá en la terraza de la azotea piscina, spa y gimnasio, todo con una vista panorámica de 360 grados a la Bahía de Biscayne y al paisaje urbano del centro de Miami.

Las residencias disponibles van desde una a cinco habitaciones y apartamentos dúplex, así como una colección de penthouses que son la cumbre del estilo de vida de lujo, en la que muchos llaman actualmente la capital de Latinoamérica, y también la preferida por los inversionistas de todo el globo.

“La colección de penthouses de Brickell Flatiron personificará la elegancia y sofisticación del diseño italiano”, comentó el desarrollador Ugo Colombo, fundador de CMC Group. “No estamos dejando a un lado un solo detalle y gasto para entregar un producto memorable, que ofrezca a sus residentes el más alto grado de calidad y un diseño que superará la prueba del tiempo”.

Además de ofrecer acabados y comodidades con una calidad sin par, las residencias de la colección de penthouses están diseñadas para una máxima funcionalidad. Cocinas mejoradas que incluyen gabinetes motorizados Snaidero con colores personalizados, enfriadores de vino Miele y electrodomésticos de sistema integrado. Los electrodomésticos Bosch del cuarto de lavado tienen incorporados tecnología antivibración y de supresión de ruido.

Todas las viviendas de Brickell Flatiron estarán equipadas con balcones de cristal elípticos, acabados en materia prima importada desde Italia y electrodomésticos alemanes.

El proyecto de 549 unidades será el edificio residencial más alto en el mercado del sureste de los Estados Unidos, desde los límites de Nueva York hasta los Cayos.

CMC Group, la empresa que preside Ugo Colombo, es artífice de la transformación de Miami en una urbe a la altura de Nueva York o Los Angeles.

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Great Places And Spaces: Above It All

The 85-story Panorama is the tallest building in Miami at 868 feet, snatching the title from the four Seasons Hotel, which reigned at 789 feet.

Panorama, the latest high-profile project by Tibor Hollo’s Florida East Coast Realty, aims to be a city within a city with 821 rental apartments—90 percent will have water views. Residences range from 1,100-square-foot one-bedroom units to three-bedroom with more than 2,100 square feet. Rent starts at about $2,500 for one-bedrooms with dens. Move-ins are expected in March.

Amenities include the “Muse Room” for live-music sessions; three private movie theaters, a 52nd-story restaurant and lounge, a 22nd-story sun deck, a yoga/Pilates studio, a spa, a steam room, fitness center and pet spa.

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Designing a Terrace or Balcony With Distinction

February 28, 2018
Whether you have a sprawling roof deck or a tiny balcony, having an outdoor space to call your own adds instant Zen to daily life.

“A private terrace is the ultimate luxury—particularly in a city,” said Jeffrey Beers of Jeffrey Beers International in New York. “It is an urban respite from the madness of the streets, as well as your personal sanctuary.”

When landscaping, paving and outdoor lighting are harmoniously combined, you can create an inviting, design-forward and calming aesthetic, he added.

“The key thing is lighting first and foremost followed by planting,” said Karen Howes, CEO of Taylor Howes design studio in London.

To make the space your own private oasis, follow these tips from the pros.

Maximize the space

“You can extend the living space by treating the outdoor space like the inside, with intimate seating arrangements, similar colors and materials, and varied lighting.

“We try to incorporate greenery as much as possible—lush plantings that add height and privacy, or living green walls in high rises.

“We also try to select pieces that are complementary to the interiors—with similar curves and materials—and place them in the same groupings as in a living room.

“A neutral color palette is timeless. Enhancing it with specific accent colors and patterns inspired by the natural surroundings also gives a more authentic sense of place.

“A subtle but powerful way to bridge indoors and outdoors is to use the same or similar flooring.

“Indirect or diffused light is a good way to create a relaxed, glowing ambiance. Uplighting or backlighting trees and plants magnifies their forms and textures, and they become natural floor lamps.”

— Pierre-Yves Rochon, principal and global design director of PYR in Paris and Chicago

Connect inside and out

“The overall layout and planning should emphasize a harmonious flow between the indoor and outdoor space. The design and color palette don’t have to be homogenous, but the indoor and outdoor space must visually play off one another. Remember, when you’re indoors, the terrace will be your backdrop, and when you’re on the terrace, the indoors will be your backdrop.

“I am personally drawn to boldness and theatrics and therefore favor statement shrubs and trees. For example, I have lined the three wall of my personal terrace in lush, tall bamboo.

“If you have the space, then I urge you to go for large-scale furniture for comfort and durability. When it comes to outdoor furniture I prefer neutral tones that complement lush landscaping. Ideas for materiality include woven resin, painted metal, and my personal favorite, teak.

“For flooring, I favor natural materials, such as teak or blue stone, for their overall texture and warmth. I also love long wide planks rather than square tiles.

“I love using outdoor lighting to create a dramatic effect at night. I personally favor lighting the landscape: uplighting trees or lighting the background to create a silhouette. Another fun and theatrical trick is to place recessed lighting under the planters. In the evening, the planters will look as if they are floating by themselves.”

 — Jeffrey Beers of Jeffrey Beers International in New York

Design with purpose

“One way to make the space feel like an extension of the interior of the home is with flooring and color. For example, if you have a light timber floor inside the room then you would want to continue this tone so that the space doesn’t appear broken and reads as one large extended area. Large bi-fold doors can be installed, which open things up, epitomizing indoor/outdoor living.

“Water features and hanging chairs are becoming more and more popular. We are designing a fabulous terrace overlooking Regents Park with an exterior kitchen and breakfast bar so that you can really live and use the space on a good day.

“Many designs are now inspired by yachts—and use cutting edge technology and materials, such as carbon fiber furniture, for example. We are also working with some amazing ceramics that look like timber and are zero maintenance.”

— Karen Howes, CEO of Taylor Howes design studio in London

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Cats and Cocktails Under the Stars

February 26, 2018
Auberge Beach Residences & Spa Fort Lauderdale, developed by The Related Group, Fortune International Group and Fairwinds Group, partnered with The Florida Panthers Foundation to host the third annual Cats and Cocktails event on Feb. 7. The exclusive evening, held under the stars on the Las Olas Riverfront, was attended by Auberge’s development team, Florida Panther ownership, players and coaching staff as well as the organization’s premium seat holders and corporate partners. Guests had the opportunity to mingle with players and experience the lavish lifestyle that future Fort Lauderdale Auberge residents will be able to enjoy. Andy Mitchell, CEO & President of the Fairwinds Group, said “The Florida Panthers are an amazing philanthropic organization and we are fortunate to have them in Fort Lauderdale. Our partnership shares a passion for helping the community and we are delighted to be the host for the Cats & Cocktail event for 2018.”

Auberge Beach Residences & Spa Fort Lauderdale and The Florida Panthers Foundation have been working closely together throughout this season to bring the best in hockey and residential development to Broward County. The evening was a testament to this partnership as attendees participated in an auction raising more than $200,000 for the South Florida community.

Notable Guests: Patrick Campbell, Vice President of The Related Group; Edgardo Defortuna, President & CEO, Fortune International Group; Ana Cristina Defortuna, Executive Vice President, Fortune International Group; Andy Mitchell, CEO & President, The Fairwinds Group; Wendy Marks, Sales Director, Auberge Beach Residences and Spa; Vincent J. Viola, Florida Panthers Owner, Dale Tallon, President of Hockey Operations and General Manager of the Florida Panthers; Bob Boughner, Head Coach of the Florida Panthers; Matthew Caldwell, President & CEO, Florida Panthers; Lauren Simone, Executive Director, Florida Panthers Foundation; Derek Mackenzie, Captain, Florida Panthers.

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To Decipher Listings, Pay Attention to Wording—And What’s Left Out

February 23, 2018
In the text of almost any real estate listing, buyers and brokers can expect an onslaught of superlatives. It’s as if every property is the best and most beautiful with top-of-the-line finishes, tranquil and lush outdoor space, and gorgeous views.

But buried in that over-dramatization is a lot of info that can clue buyers in about what to expect from a given property beyond just the number of bedrooms and bathrooms and the size of the home, which might save them time during their search or give them the upper hand during a negotiation.

While most experts agree that photos and video tours are the most important aspects of a listing, Mauricio Barba, a broker associate with ONE Sotheby’s International Realty in Miami said that the description itself is “absolutely still important” as well.

“The luxury buyer typically needs some hand holding,” he said. “They want to read a story about their potential home.”

To accomplish this, Mr. Barba said that he includes all the essential information, such as number of bedrooms and size and location, in a listing’s description, but also highlights a home’s interesting history. If a public figure or celebrity or sports star used to live there, he wants to note that. If a famous architect built the property, and it has noteworthy touches— like one Coral Gables property he’s selling that has original stained glass from the 1920s made by the Tiffany company— he wants to highlight that, too.

“I want to show the importance of the property in the description,” he said, “and make it clear why it’s worth the list price.”

And every agent has their own strategy when writing up a listing, each meant to entice a potential buyer or broker to come see the property in person.

“It’s about trying to cut through the clutter,” said Craig Knizek, the director of the estates division at Los Angeles brokerage The Agency. “The goal is to write a description or a phrase that resonates with the reader, whether that’s the broker or the potential buyer.”

What’s left out of the description is almost as important as what’s in there

There are a few in-demand features that experts agree will be in a listing if they’re considered a selling point for a home. Views is one of them.

“If I’m reading someone else’s listing and it doesn’t say ‘views’ when that’s what my client has asked for, I might not even look through all the pictures that they’ve presented,” Mr. Knizek said.

In L.A., “panoramic, unobstructed views” or “ocean views” are considered the best, while “peekaboo views” might mean a sliver of the Pacific or a glimmer of the downtown skyline.

In the French Riviera, Beauchamp Estates broker Mirka Mikleticova said that “southwest facing views” are the most in-demand, and will be certainly be mentioned in a property’s description if they’re there.

In the Manhattan apartment world, views of anything—Central Park, the Hudson River or a landmark like the Empire State Building—are likely to be the first thing listed, if they’re there at all, said  Rick Pretsfelder, a broker with Leslie J. Garfield. For townhouses, in which views aren’t expected, light is more important.

Just like views, other features, such as outdoor space, flat land, a guest house and amenities, including in-home wine cellars, gyms and movie theaters, will most likely be mentioned if they’re important parts of the home.

Some words or phrases mean more than meets the eye

Within the description, other words or phrases that seem straightforward on first read might mean much more.

For instance, while “cozy” probably means small when it comes to apartments, for a townhouse, “cozy just suggest a less grand space,” said Mr. Pretsfelder, who noted that a “cozy” townhouse might be 2,800 square feet, but “warm and comfortable—just not sprawling.”

“Charming” or “needs TLC,” on the other hand, is language that almost certainly means you “basically have to gut it,” Mr. Knizek said, noting that “build your dream home” (or “add your personal artistic touch,” according to Mr. Barba) is another way to say it’s a tear down.

A move-in ready house, on the other hand, might have “bring your toothbrush” in the listing, Mr. Knizek said.

In the New York property market, listings often include the phrase “pre-war,” which literally means that the building was constructed before World War II, Mr. Pretsfelder said. But what being built during that architectural period implies, he continued, is that the apartment is likely to be large, with high ceilings, rooms separated by hallways, attractive molding or wood details, such as parquet floors, and quality construction that makes it less likely that you’ll hear your neighbors.

“I like the scale of pre-war apartments, but there are plenty of buyers out there who would consider this a negative thing,” Mr. Pretsfelder said.

Those buyers instead might want a modern unit, with a cleaner, white box look—also phrases likely to show up in Manhattan condo listings.

But if a listing doesn’t say “pre-war” or “modern and new,” it probably means the building was constructed sometime between the 1950s and the 1980s, when architecturally, generally, “was probably a little more vanilla,” Mr. Pretsfelder said, with lower ceiling heights and fewer hallways.

In standalone homes, phrases like “formal living and dining parlors” is a cue that there’s not an open floor plan, which many buyers crave, Mr. Barba said.

Meanwhile, “hearkens back to a bygone era,” or something like that, might be shorthand to tell buyers this is an older home, Mr. Knizek said.

Comments on price cuts and deals can mean different things

Experts generally agree that more often, they’re seeing listings that include phrases like “massive price reduction” or “bring all offers.” Both, they say, can be double-edged swords. On one hand, these phrases might entice buyers to find out more. But on the other hand, “it feels a little bit desperate,” Mr. Knizek said, “and like the seller is just trying to unload the thing.”

In many cases, this sort of language says more about the sellers’ situation than about the property itself, experts say.

In some cases, the owner has found themselves in financial trouble and needs to sell fast. Or maybe they’re being relocated across the country for their job and have to close fast. In other cases, Mr. Knizek said, it’s code for a nasty divorce. “You would never write, ‘family separating—must sell this house,’ or ‘husband and wife hate each other,’” he said.

Language about how the property is a “bargain” can also mean just that—that it’s trading at a lower price per square foot, not that it needs a lot of work, experts say.

In New York, that could mean a condo built in the 1980s that’s now selling at $1,100 per square foot, Mr. Pretsfelder said—a deal in most Manhattan neighborhoods. Or in L.A., whether it’s the “lowest priced view property in the Hills” or “the lowest priced property in the flats,” it could be a perfectly fine property that will appeal to a certain type of buyer, including luxury buyers, who can, “well afford something else, but they’re not buying unless it’s a bargain,” Mr. Knizek said.

Listings may look a bit different to appeal to international buyers

In the South of France, Ms. Mikleticova said she has a lot of buyers looking for a vacation home who are only in town for a weekend or short holiday before they make their purchase decision. Because she knows these buyers are short on time, she sticks to bullet points and cuts all the jargon. “I find that you have to get straight to the point if you don’t want to lose the client,” she said.

She also forgoes sugar coating any perceivable flaws and just tells it like it is. “If a property needs a lot of work, I would just write that,” she said, noting that a lot of buyers are interested in a renovation so they can customize a home to their specific tastes. “If we deceive them and the reality is different when they get here, a lot of people would be angry,” she said.

Below the bullet points, though, she will find space to fit in some historical details that might sway a buyer, as she recently did with a villa that used to be a Russian Orthodox Chapel, and at one time, belonged to royalty from Serbia and Montenegro. “My client told me that those details really interested her,” Ms. Mikleticova said.

In Miami, the president and CEO of the Fortune International Group, Edgardo Defortuna, said listings aimed at South American buyers tend to highlight characteristics beyond the individual apartment.

“An international buyer is typically less concerned with the specific unit itself and more interested in the lifestyle that living in that project represents,” he said, adding that focusing on the amenities, such as an in-building pool, spa, concierge service or restaurant, are likely to get their attention. “They’re really concerned about how they’re going to be able to enjoy their freedom when they come here.”

Whether it’s meant to appeal to an international or local buyer, drawing that person in is obviously the gold standard for all listings, experts say. But it doesn’t hurt when the current owner is reminded why they bought the home in the first place, Mr. Knizek said.

“The perfect compliment is when they look at the photos and read the copy and they’re like, ‘I don’t want to move. This is a great house.’”

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La psicóloga del Real Estate

Feb. 15, 2018
Carolina Rainer es Licensed Real Estate Broker en Florida y Nueva York y es quien lleva adelante la venta del nuevo desafío de Ugo Colombo: Brickell Flatiron.

Desde hace más de 15 años que Carolina Rainer supo consolidarse en el mundo del Real Estate en Miami y Nueva York. Sus éxitos están marcados por más allá de las ventas estratégicas, sino también en negociaciones de contrato y gerencia de equipos de ventas y desarrollo; que la fueron convirtiendo en una especialista de ventas de nuevos desarrollos.

“Soy psicóloga del Real Estate”, afirma entre sonrisas Carolina. “Los escucho y pienso con ellos cuál es su mejor opción y la mejor unidad que les conviene. Los ayudo con la parte contable, con los abogados. Estoy en todo el proceso de compra”, remarca.

Nació en la ciudad de Buenos Aires, Argentina, y es Licenciada en psicología de la Universidad del Salvador con una maestría en Psicología Clínica y Organizacional; algo que -para muchos- poco tiene que ver con el real estate.

“Me fui en el 2000 con la idea de explorar mundos, primero fui a España y después a Miami. Ver otras opciones”. Su carrera la encontró por casualidad trabajando con un arquitecto italiano en Recursos Humanos, “pero aprendí la parte de Real Estate y me di cuenta que me gustaba mucho más”, dice y ríe.

¿Qué fue lo que más te gustó del Real Estate?

Conocer mucha gente y ayudarlas a hacer buenas inversiones. Me gusta asesorarlos y crear amistades con ellos.

Al llegar a Miami, ingresó como Analista de Psicología de Marketing para The Bentley Beach. Durante su tiempo allí, comenzó a estudiar para su licencia de bienes raíces, así como Programación Neurolingüística.

Actualmente la joven tiene a su cargo la venta de Brickell Flatiron, el último proyecto de Ugo Colombo, presidente de CMC Group, empresa desarrolladora. El cual cuenta con el diseño del arquitecto Luis Revuelta y el reconocido proyectista de interiores Massimo Iosa Ghini.

Para los amantes de las curiosidades arquitectónica, está ubicado en el distrito financiero de Brickell, el cual contrasta con el romance del Renacimiento en su interior con un exterior moderno y vanguardista.

¿Qué fue lo que te sedujo del Brickell Flatiron?

Es el único proyecto que está bajo construcción en el área de Brickell, todo lo demás está construido y a la reventa. Esto es lujo y exclusividad, además de diseño y elegancia. Es una de las torres más altas de Miami. Va a ser la mejor torre de Brickell y, obviamente, va a tener un incremento de valor.

¿Por qué podés asegurar que va a tener un incremento de valor?

Las propiedades de Ugo Colombo son las únicas que mantuvieron su valor en Brickell, manteniéndose en los malos momentos y subiendo en los buenos.

¿Y hoy estamos en un momento bueno o malo?

Hoy estamos en el momento del comprador, hay mucha oferta. Y hay también oferta de reventa, pero esa venta de propiedades ya terminadas compite con unidades a estrenar como nosotros: Lo nuevo siempre vale más; y las de Ugo Colombo siempre valen más, por eso decidí meterme ahí: tiene una reputación impecable.

¿Tan importante es la reputación en el Real Estate?

En real estate lo único que vende es la confianza, por eso decidí involucrarme con ellos. Si el desarrollador no fuese solvente, no me meto, porque lo que estaría arruinando es mi reputación, que es por lo cual mi clientes me siguen.

¿Hay muchos compradores argentinos?

Tenemos muchos compradores argentinos que ven a Miami como una gran inversión porque Buenos Aires está muy caro. Dentro de Estados Unidos, Miami es la puerta al resto del país. Este es un proyecto que les encanta, no sólo por la ciudad sino también por el precio. El argentino confía en el sistema estadounidense y prefiere tener la plata afuera, además siempre buscan tener un plan B, por las dudas.

¿Brickell Flatiron está pensado para invertir o vivir?

Ugo Colombo lo hizo pensando en gente que quiera vivir la ciudad. Es una construcción exquisita, elegante y a puro lujo. Pero todo eso sumado a la ubicación es casi una combinación perfecta también para invertir ahí. Aunque está pensado para el consumidor final, para vivir.

Brickell Flatiron, el proyecto

“Los pent-house de Brickell Flatiron son el producto de una extraordinaria armonía entre una arquitectura de clase mundial, diseño interior y materiales sublimes, creando hogares para los que persiguen un estilo de vida por encima de todo”, describió Ugo Colombo, y agregó: “En general, Brickell Flatiron crea ambientes diseñados para que los residentes se sientan cómodos y a tono con el espacio que los rodea”.

Para Colombo, sus clientes esperan exclusivos diseños italianos, tecnología innovadora y materiales de la mejor calidad. “Brickell Flatiron continuará con nuestra tradición de no escatimar en gastos ni detalles, para asegurarnos que entregamos residencias que resisten la prueba del tiempo”, afirmó Colombo.

“El último piso, la mejor vista de Brickell Flatiron, ha sido destinado a todos nuestros residentes. Muchos de los edificios que compiten con nosotros cuentan con impresionantes comodidades, pero Brickell Flatiron es la única torre con Sky Spa en la azotea. En su lugar hemos podido construir un pent-house que tendría un precio muy alto, pero tomamos la decisión de diseño que crea un valor agregado en el tiempo. Esa característica marcará la diferencia de nuestras unidades hoy, y en 10 o 20 años”.

 

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Related’s Beachfront Fort Lauderdale Condos Highlight Construction Challenges For Florida Builders

February 14, 2017
When a crane crashed down mid-construction on the Auberge Beach Residences & Spa Fort Lauderdale during Hurricane Irma last fall, developer Related Group Vice President Patrick Campbell watched it happen. A downward thrust of wind, called a microburst, hit, and the crane began weather-vaning faster than usual.

“It collapsed on itself, and went through the sales center,” Campbell said.

Although it took about two and half weeks to get the crane out — per regulations, the Occupational Safety and Health Administration had to do an inspection and clear the job site — and the hurricane ultimately delayed the project about 60 days, Campbell said that there was no lasting damage.

Construction of the Auberge highlights how Florida builders are adjusting to current challenges: a tight labor market and the looming threat of climate change.

The north tower, which is nearing completion, has only two units left for sale and the second tower, which topped off in late January, is about 70% sold, Campbell said. Two penthouses sold for $8.9M and $9.5M, respectively, record prices in Broward County.

The beachfront project, which has 171 units ranging from one to five bedrooms, is marketed as a “luxury development sitting directly on the sand.”

Campbell said the project is built on a resilient site. Compared to South Beach, where the base flood elevation is 6 feet above sea level, the Auberge site sits at 12 feet. Ground-floor slabs are elevated so that the building starts at about 15 feet above sea level. The road, beachfront highway A1A, comparatively, is at 9 feet. Campbell said Related follows federal regulations for building in coastal zones.

Moss Construction Vice President Alex Smith, who oversees construction on Auberge, said that on top of federal requirements, the state of Florida, to protect natural features like sand dunes, imposes certain rules for projects built within Coastal Construction Control Lines.

Construction crews built a seawall and incorporated some breakable construction materials, like breakaway walls, on the perimeter that are designed to detach in high winds, rather than compromise the whole structure. Local building departments are requiring that foundation systems be waterproofed. Smith Aerial Photos / Courtesy of Moss Construction The Auberge Fort Lauderdale has a north tower and a south tower.

“I’ve seen that on the last three projects [I’ve done],” Smith said.

Auberge has a 120K SF underground basement that sits 15 to 20 feet below sea level. The foundation has a drainage system built into it, with a fully waterproof perimeter. These, along with the dunes providing a buffer from the ocean, protected the Auberge when Hurricane Irma hit, so that nothing got into the basement except regular rainwater, Campbell said.

In choosing its general contractors, Related does not ask for requests for proposals, Campbell said. The development team makes a shortlist internally and chose for the Auberge Moss, which had handled construction on other Related projects, including the SLS Lux in Brickell and Hyde Midtown.

“With construction costs going up, we couldn’t buy the job for what we bought it for now,” Campbell said.

Smith said the burden for making up the difference fell not on Moss but on its subcontractors. As the construction manager, Moss has about 20 employees on the Auberge site and uses various subcontractors for each specialized part of the job.

“The labor market is tough,” Smith said. “What we saw with Hurricane Irma is that 20 to 30% of the workforce left. We really didn’t get a lot of those individuals back. A lot of them went to Houston, where [following Hurricane Harvey], they could make $5, $6, $10 more an hour working. It really hasn’t recovered.”

Smith said Moss already had contracts issued with the subcontractors.

“They had to honor the contract values that they had. The subcontractors were obligated. If they need to pay an extra $5 or $10 to keep their personnel — I think that happened to a handful of them,” he said. “There are not a lot of people on the sidelines not working. The workforce is thin for qualified personnel.”

A more frustrating problem, he said, was the cost of getting materials to the job site. Windows came from Colombia, but those were delayed two or three weeks until ports could get back on schedule, in turn affecting the workflow on site. His focus turned to expediting materials.

“That’s what keeps me up at night,” he said. “How can I get things done faster? How can I get things done better and more efficiently?”

For the first time, he used a total station robotic layout system — a combination hardware/software system.

“You load up the construction documents into it, and it helps lay out floors to one-sixteenth of an inch,” Smith said.

That proved helpful in executing Auberge’s unique design, with curved towers  —one of which is like a semicircular staircase.

“We’re building on a radius, with each floor stepping back as it goes up the building. Each wall is really on a radial point,” Smith said. “Not all walls are square; they’re pie-shaped. You can’t just go and use a tape measure.”

A certificate of occupancy for the north tower is expected in April. The south tower should be delivered in September. As for the broken crane, it is still undergoing forensic testing in an Orlando warehouse, and it remains to be seen whether the builder’s risk insurance policy or the crane company’s insurance policy will cover losses.

“The insurance companies are battling it out,” Campbell said.

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Here’s Your Chance to Buy a $15.5 Million Penthouse in Miami’s Brickell Flatiron Residential Tower

February 12, 2018

The penthouse is part of a collection designed by Italian architect Massimo Iosa Ghini.

Italian architect Massimo Iosa Ghini—who has designed everything from showrooms for Ferrari to furniture for the late David Bowie—brought his clean, streamlined aesthetic to Brickell Flatiron, a 64-story building that will be one of the tallest residential towers in the United States when it is completed in downtown Miami next year. In addition to designing the building’s amenity spaces, the revered architect created a limited collection of penthouses that were released to the market last year by developer Ugo Colombo. Stationed on floors 50 through 64, the single-story, duplex, and triplex units will span up to 6,500 square feet and showcase 10- to 11-foot ceilings and stunning views of Biscayne Bay and the cityscape.

“Brickell Flatiron’s penthouse collection will embody the elegance and sophistication of Italian design,” said developer Ugo Colombo, founder of CMC Group. “We are sparing no detail and no expense to deliver a memorable product offering our residents the highest caliber of quality and design that will withstand the test of time.”

Motorized cabinets from Snaidero, Miele wine coolers, and state-of-the-art appliances populate the kitchens, while energy-efficient, impact-resistant walls of glass throughout the units can withstand hurricane-force winds. The sky-high spaces also have high-tech security systems that include smart-lock capabilities and private wireless networks.

Though one of the two triplex penthouses have already been sold, UPH-01—which has 6,487 square feet of interior space and 2,499 square feet of exterior space—is currently on the market for $15.5 million. The five-bedroom residence has a standalone four-car garage, a rooftop swimming pool and outdoor kitchen, and a private elevator that transports residents to all three levels. Double-height ceilings and floor-to-ceiling glass windows give the residence an airy aesthetic.

Penthouse owners will have access to the rooftop amenities, which include a spa, swimming pool, and gym with 360-degree views. Residents can also take advantage of the 24-hour concierge and parking valet, electric car-charging stations, and on-site car-washing and detailing services.

The single-story penthouses are priced from around $1 million to $2.5 million, with the upper duplex and triplex penthouses asking from $6 million to $15.5 million.

 

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Italian fashion house lends name to Miami luxury project

February 12, 2018
Legendary Italian fashion house Missoni is known for colorful clothing that is considered high-end, unique and chic.

The same words can be used to describe its namesake, Missoni Baia, a 57-story luxury condominium tower soon to rise in the fast-growing Edgewater neighborhood of Miami. These will be the first-ever branded residences from Missoni.

“There are a lot of great buildings in Miami, and every one has its own story and its own positioning,” said Jim Cohen, senior vice president of development sales for Fortune International Group, which handles the sales and marketing for the project. “But we have a lot of things that really set us apart, and the biggest one is the Missoni brand itself.”

Missoni Baia is being developed by OKO Group, the Miami-based development company founded by international developer Vladislav Doronin. OKO broke ground on the project, at 777 NE 26th Terrace, in October. Completion of the 649-foot-tall waterfront tower is expected in the fall of 2020. This is the first of OKO Group’s four planned Miami projects.

Missoni Baia will include 249 units ranging from one to five bedrooms and from 776 square feet to 3,788 square feet. There are larger units as well, including three duplex townhouses and a $25 million penthouse unit with 9,000 square feet of interior space plus a 4,000-square-foot terrace with lap pool. That unit can also be divided to create two penthouses.

The interior design of the building incorporates Missoni’s colorful fabrics, furnishings and artwork, as well as the Missoni Home furniture collection, in public spaces and amenities.

Building amenities include a bayfront lounge complete with a pool overlooking the water, a media room, beauty salon, children’s playroom, pet spa, gym overlooking the bay and a spa. There’s also a lap pool, plunge pools, children’s water features and a tennis court.

“It’s a city within a building,” Cohen said. He would not disclose the exact percentage of units that have sold, but noted, “We have enough sales and enough momentum that the developer proceeded with construction.”

Buyers hail from the northeastern United States, Europe and South America. Prices for remaining units range from $550,000 to more than $3.5 million.

But Missoni is just one design firm making its mark on Miami. Other designers that have branded luxury condominium projects in the area include Aston Martin, Fendi, Porsche and Armani.

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Brickell Flatiron’s $15.5M penthouse is still available

February 12, 2018

Checking in on the progress of the Massimo Iosa Ghini-designed building

“Moving on up at a one floor per week rate,” is how Brickell Flatiron’s Facebook page put it last month to describe the 64-tower’s climb in the Miami skyline. While the tower goes up, Robb Report checks in on Brickell Flatiron’s incredibly luxurious $15.5 million penthouse, which is currently on the market.

That price tag gets its buyer a three level, five-bedroom home with four-car garage, rooftop swimming pool, and private elevator with marble walls silhouetting floor-to-ceiling views. The building is designed by Italian architect Massimo Iosa Ghini, who created showrooms for Ferrari.

One of the two triplex penthouses at Brickell Flatiron’s already been sold, according to Robb Report.

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Estos depas en Miami son el ‘delirio’ de los mexicanos

February 9, 2018
De los 249 departamentos que conforman el desarrollo de lujo Missoni Baia en Miami, el 25 por ciento ha sido comprado por mexicanos, a pesar de que el precio de estos es de hasta 3.5 millones de dólares por 351 metros cuadrados (m2).

Este complejo, desarrollado por OKO Group y diseñado por la marca de ropa Missoni, tiene amenidades como salón de belleza, spa para mascotas, piscina frente a la bahía, estudio de yoga privado y sala de proyecciones, entre otras.

“En la zona en la que se asienta Missoni Baia cuenta con boutiques, restaurantes y galerías de arte, como las que se ven en presidente Masaryk en Polanco, y quienes residan en el lugar podrán disfrutar de este estilo de vida y las playas de la zona”, dijo Vlad Doronin, empresario ruso y CEO de OKO Group.

El desarrollo tiene una altura de 60.2 metros y cuenta con 57 niveles, además de localizarse frente al mar.

Leonardo González, analista Real Estate de Propiedades.com explicó que los mexicanos que compran este tipo de inmuebles son al menosdirectores ejecutivos de alguna firma o políticos con cargos no menores a gobernadores de estados.

La desarrolladora cuenta con proyectos en ciudades como Nueva York, Miami y Moscú, en donde edificó a OKO Tower, el segundo rascacielos más grande de Europa.

“Hay una gran oportunidad en el Sur y Centroamérica. Bajo la división de Aman hemos anunciado un pipeline de 11 nuevos hoteles en el sur del continente”, dijo Doronin.

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Herzog & De Meuron-Created Jade Signature Receives TCO, Begins Closings

February 6, 2018
With the finishing touches of a giant kapok tree  now firmly planted at its entrance, and a new public work of art installed along its shoreline,  Jade Signature — Miami’s most architecturally extraordinary oceanfront address – has received its temporary certificate of occupancy (TCO), signaling the start of closings for the ocean-facing luxury tower.  Residents are now slated to begin moving in within the next few weeks.

Developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, and created by the Pritzker-Prize winning architecture firm Herzog & de Meuron — in collaboration with Parisian interior designer Pierre-Yves Rochon (PYR) and landscape architect Raymond Jungles — sales and construction began in 2013. To date, 95% of the 192 residences have been purchased by an array of buyers spanning the U.S., Latin America and Europe. Financing for the 57-story tower, which is located at 16901 Collins Avenue in Sunny Isles, was provided by HSBC. With this initial TCO achieved, the development team expects that the building will be fully completed for its official opening at the end of the first quarter.

Nearly sold out, Jade Signature has a limited assemblage of residences remaining among the tower’s most luxurious units.  Known as “The Collection,” the portfolio is a compilation of two-story Sky Villas and penthouses, ranging from $14.2 million to $32.9 million. The Sky Villas offer stunning features, such as flow-through views, expansive terraces, private elevators, smart technology, service quarters and PYR-designed bathroom cabinetry. The two, full-floor penthouses boast all of these world-class features as well as a private pool, gym and 360-degree views of the Atlantic Ocean, Intracoastal Water and the Miami skyline. Additional offerings include three- to five-bedroom residences, with sizes starting at 3,312 square feet and prices starting at $4.8 million.

The roots of Jade and the journey of its brand trace back to 2004 and Miami’s Financial District, where Jade on Brickell Bay was developed by Fortune International Group.  The project’s prominence and accolades eventually paved the way for the creation of Jade Ocean and Jade Beach in Sunny Isles — and now, Jade Signature.  Coinciding with Jade Signature’s final stages of completion, the company celebrated an additional milestone in November: the commemoration of nearly 35 years in the luxury residential real estate industry…a benchmark that will be celebrated when Jade Signature officially opens in the weeks ahead.

“We are so proud to be of delivering this masterpiece to the world,” said Edgardo Defortuna, President and CEO of Fortune International Group.  “Our buyers have long recognized our vision and strength, knowing full-well what the final result will be when a group of industry leaders set out to create something extraordinary.”

“Like the kapok tree’s symbolism of strength and resiliency, and the jewel-adorned, snowman-shaped ‘Bonhomme Universe’ sculpture’s embodiment of Miami’s unique diversity, Jade Signature, as a whole, is a testament to rare artistry and singular design,” Defortuna continued. “This particular project is the pinnacle of the Jade brand’s journey, representing the growth of a legacy and its future admiration by generations to come.”

For more information, contact (305) 907-7493, or visit www.jadesignature.com

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My Second Home

February 2, 2018
This airy penthouse fills the 56th and part of the 57th floor of the Herzog & de Meuron-designed Jade Signature in Sunny Isles Beach.

Read the full feature here.

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Edgardo Defortuna: El Mogul Que Cambió El Skyline De Miami Para Siempre

February 1, 2018
Sagaz, visionario y carismático, son palabras que sin duda definen a Edgardo Defortuna, quien ha dejado su huella en la historia del Real Estate en Miami y alrededor del mundo. Defortuna, originario de Córdoba, Argentina es el hombre de negocios cuya acertada visión le llevó a descubrir Miami como la capital de las Américas, creando y manejando muchas de las majestuosas obras arquitectónicas que definen hoy en día el skyline de la ciudad. Sus grandes desarrollos cambiaron Miami, trayendo el estilo de vida de lujo por el que hoy es conocida internacionalmente.

Es el hombre más influyente en el crecimiento del mercado de propiedades de lujo, involucrado en más de 100 desarrollos inmobiliarios, respaldados por su exitosa compañía Fortune International Group, líder por más de 30 años en la industria inmobiliaria.
Tuve el gran honor de entrevistar a este magnate del Real Estate que está a punto de inaugurar su última joya de arquitectura en Sunny Isles Beach: Jade Signature.

Edgardo, fuiste el primer argentino que tomó el riesgo en descubrir Miami como la capital de América Latina, donde todo el mundo desea invertir. Hoy inauguras “Jade Signature“ en Sunny Isles Beach. ¿Qué te inspiró a desarrollar esta magnífica obra?

Nosotros desarrollamos para los compradores más exigentes del mundo, que buscan una arquitectura exquisita combinada con un lujoso estilo de vida en su propio edificio. Seleccionamos el mejor equipo para crear un producto de primer nivel, los arquitectos Herzog & de Meuron galardonados con el premio Pritzker, y diseño de interiores por la firma parisina PYR, de Pierre Yves Rochon (Four Seasons de Paris, Florencia y Londres), alguien que realmente entiende el lujo sin ser ostentoso.

Jade Signature busca la conectividad entre la playa, la piscina y las áreas comunes. El estacionamiento es subterráneo, una obra de ingeniería increíble que tardó más de un año en ser construida y a un costo muy significativo si se compara con parkings tradicionales, que hace que permita esa conectividad que mencioné anteriormente. Su diseño arquitectónico logra que a pesar de su altura (57 pisos), su propia sombra no impacte el área de piscina y playa, permitiendo más horas para disfrutar del sol.

Cuéntanos sobre los servicios y amenidades que tiene Jade Signature.

Jade Signature fue pensado para satisfacer los altos estándares del comprador internacional. Creamos tres plantas completas con todas las amenidades necesarias para que los propietarios no se tengan que mover del edificio para nada.

El edificio cuenta con un restaurante, servicio de playa, un spa con servicio completo, con cabañas para masaje, saunas y jacuzzis con vista al océano, todo lo que el cliente necesita para sentirse en un spa europeo.

También cuenta con acceso a chef privado para fiestas o eventos en grupo y mucho más.

Jade Signature tiene unos Penthouses maravillosos para los compradores más selectos, cuéntanos de ellos…

Creamos estos Penthouses para un comprador que desea lo más sofisticado y novedoso. Los dos últimos niveles del edificio son unidades de pisos completos, con más de 1,000 metros cuadrados de superficie interior y 700 de terraza. Tienen unos ventanales de piso a techo con vistas impresionantes de 360 grados a South Beach, Downtown Miami y obviamente el mar y toda el área de Sunny Isles.

Han tenido una gran aceptación porque este tipo de comprador realmente busca lujo, exclusividad y tener todos los servicios de un hotel cinco estrellas en su propia casa. Todo esto hace que desde el punto de vista de precios, calidad de construcción y valor del producto los Penthouses sean también una muy buena oportunidad de inversión.

¿Cómo te sientes cuando pasas por los edificios y tus hijos te dicen “papá este lo hiciste tú”?

Es un gusto que los chicos realmente puedan decir algo sobre nuestras creaciones porque te dedicas tanto a un proyecto en específico que pasan a ser un poco tus segundos hijos.

Para mí es motivo de orgullo ser parte de la gran transformación que ha tenido Miami, de ser el desarrollador o comercializador de la mayoría de los proyectos que hoy hacen que el skyline de Miami se vea completamente diferente, y obviamente espero que mis hijos puedan continuar este trabajo.

A ellos les fascina. Ana Cristina y yo les infundimos ese amor por lo que hacemos y tratamos de hacerlos partícipes de nuestros proyectos. Estamos en una ciudad mágica, en la que se han producido muchos cambios y está en continuo crecimiento. Miami llegará a ser una de las capitales más importantes del mundo. Quiero que ellos se sientan parte de ella… Es la adrenalina que te hace ver y pensar lo qué vamos a hacer próximamente, porque siempre uno trata de superarse y de lograr lo mejor. Ver que nuestros hijos son parte de eso es muy gratificante, realmente un sentimiento muy lindo.

¿Cuántos edificios has construido hasta ahora en todo el mundo?

Son más de 100 seguramente. La verdad es que tuvimos la suerte de estar en el lugar apropiado en el momento preciso y crecer con esta ciudad; tratar de hacer las cosas bien para continuar creciendo.

Para tus hijos ¿qué es más importante? ¿Qué le dejes fortuna o un legado?

Nosotros siempre hemos pensado en dejarles las armas para poder tener éxito en la vida, que es lo más importante. La realidad es que si mantienen el esfuerzo y el trabajo, junto a su capacidad y perseverancia, van a ser exitosos en lo que quieran hacer. Siempre les decimos que lo más importante en la vida es hacer lo que les apasione.

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Edgardo Defortuna: The Mogul That Changed Miami’s Skyline Forever

Sagacious, visionary and charismatic, are words that undoubtedly define Edgardo Defortuna, who has left his mark on the history of Real Estate in Miami and around the world. Defortuna, originally from Córdoba, Argentina is the businessman whose vision led him to discover Miami as the capital of the Americas, creating and managing many of the majestic architectural works that define the skyline of the city today. Its great developments changed Miami, bringing the luxury lifestyle for which it is now internationally renowned.

He is the most influential man in the growth of the luxury Real Estate market, involved in more than 100 real estate developments, backed by his successful company, Fortune International Group, a leader for more than 30 years in the real estate industry.

I had the great honor of interviewing this Real Estate mogul who is about to inaugurate his latest architecture jewel in Sunny Isles Beach: “Jade Signature.”

Edgardo, you were the first Argentine who took the risk of discovering Miami as the capital of Latin America, where everyone wants to invest. Today, “Jade Signature” opens in Sunny Isles Beach. What inspired you to develop this magnificent construction project?

-We develop properties for the most demanding buyers in the world, who seek exquisite architecture combined with a luxurious lifestyle. We selected the best team to create a first-class product, the Herzog & de Meuron architects awarded the Pritzker Prize, and interior design by the Parisian firm PYR, by Pierre Yves Rochon (Four Seasons de Paris, Florence and London), someone who really understands luxury without being ostentatious.

-Jade Signature seeks connectivity between the beach, the pool and the common areas. The parking lot is underground, an incredible engineering job that took more than a year to be built and at a very significant cost compared to traditional car parks, which allows for the connectivity that I mentioned earlier. Its architectural design achieves that, despite its height (57 floors); its own shadow does not impact the pool and beach area, allowing more hours to enjoy the sun.

Tell us about the services and amenities that Jade Signature offers.

-Jade Signature was designed to meet the high standards of the international buyer. We created three complete floors with all the necessary amenities so that the owners do not have to leave the building at all.

-The building has a restaurant, beach service, a full service spa, with cabins for massage, saunas and jacuzzis overlooking the ocean, everything the client needs to feel at a European spa.

-It also has access to a private chef for parties or group events and much more.

Jade Signature has wonderful Penthouses for the most select buyers, tell us about them …

-We create these Penthouses for a buyer who wants the most sophisticated and innovative homes. The last two levels of the building are complete floor units, with more than 1,000 square meters of interior surface and 700 of terrace space. They have floor to ceiling windows with stunning 360 degree views of South Beach, Downtown Miami and obviously the ocean and the entire Sunny Isles area.

They have had a great acceptance because this type of buyer really looks for luxury, exclusivity and having all the services of a five-star hotel in his own home. All this, from the point of view of prices, quality of construction and product value, results in Penthouses being a very good investment opportunity.

How do you feel when you drive by the buildings and your children tell you “dad did you do this”?

-It’s a pleasure that my kids can really say something about our creations because we dedicate so much time and effort to projects that they actually become our children.

-I feel very proud to be part of the great transformation that Miami has had, of being the developer or marketer of most construction projects that today make Miami’s skyline look completely different, and obviously I hope that my children can continue this effort.

-They love them. Ana Cristina and I instill that love for what we do and try to make them participants in our projects. We are in a magical city, where many changes have taken place and it is constantly growing. Miami will become one of the most important capitals in the world. I want them to feel part of it … It’s the adrenaline that makes you see and think about what we’re going to do next because you always try to improve yourself and achieve the best. Seeing that our children are part of that is very rewarding, it’s really a very nice feeling.

How many buildings have you built so far in the whole world?

-They are more than 100 surely. The truth is that we were lucky to be in the right place at the right time and grow with this city and we do things well in order to continue growing.

For your children, what is more important? That you leave fortune or a legacy?

We have always thought about leaving them tools to be successful in life, which is the most important thing. The reality is that if they put in the work, along with their capacity and perseverance, they will be successful in whatever they do. We always tell them that the most important thing in life is doing what they are passionate about.

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Exclusive Interview with Edgardo Defortuna

February 1, 2018
Edgardo Defortuna has left his mark on the history of Real Estate in Miami and around the world. Defortuna, originally from Córdoba, Argentina is the business man whose right vision led him to discover Miami as the capital of the Americas, creating and managing many of the majestic architectural works that define the skyline of the city today.

To watch the interview, click here.

Edgardo Defortuna, ha dejado su huella en la historia del Real Estate en Miami y alrededor del mundo. Defortuna, originario de Córdoba, Argentina es el hombre de negocios cuya acertada visión le llevó a descubrir Miami como la capital de las Américas, creando y manejando muchas de las majestuosas obras arquitectónicas que definen hoy en día el skyline de la ciudad.

Para ver la entrevista, haga clic aquí.

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Incertidumbre política previa a las elecciones impulsa inversión de los colombianos en Estados Unidos

February 1, 2018
Para nadie es un secreto que cada cuatro años, con la elección de un nuevo gobierno, crece la incertidumbre y las dudas sobre si se debe o no invertir en Colombia. La posibilidad de enfrentarse con un nuevo gobernante que pueda poner en riesgo la seguridad y la economía del país, pone a los colombianos a cuestionar sus siguientes pasos.
El 2018 no ha sido la excepción y con las elecciones a la vuelta de la esquina, se puede ver cómo los colombianos ya han frenado su inversión en el país y han empezado a pensar en sus opciones en otros países tales como: Canadá, España y, por supuesto, Estados Unidos.

A pesar de la compleja situación política que se vive en Estados Unidos, los colombianos siguen viendo este país como un lugar seguro tanto para vivir como para invertir. Según la Asociación de Agentes Inmobiliarios de Miami, Colombia encabezó la lista de los países que más buscaron hacer compras inmobiliarias en esta ciudad durante el 2017 y se espera que este puesto se mantenga durante el 2018. De igual forma, los compradores colombianos hicieron el 10% de las compras internacionales en el Sur de la Florida del año pasado, ocupando el tercer lugar en este estado.

Actualmente se ha demostrado que el mercado, la oferta inmobiliaria y las oportunidades de inversión continúan creciendo fuertemente en Estados Unidos y particularmente en el estado de la Florida. El empresario argentino, Edgardo Defortuna, CEO de Fortune International Group y representante del proyecto Missoni Baia, revela que “(…) hay aproximadamente 14.901 departamentos en pre-construcción en Miami -incluyendo Brickell, Miami Downtown, Edgewater y las playas: Miami Beach, Hollywood, Sunny Isles- y se estima que el 80 por ciento ya está vendido”. De este 80% que ya está vendido, 81% ha sido adquirido por latinoamericanos y 16% por colombianos.

Si bien no se puede dar una cifra exacta sobre cuánto están dispuestos a invertir los colombianos en este momento de incertidumbre política que se vive en el país, sí se puede afirmar que los colombianos han mostrado fuerte interés en proyectos de lujo como Metropica, desarrollo urbano de 1.500 millones de dólares en el condado de Broward en la Florida. Joseph Kavana, CEO de Metropica Development LLC, afirma que “al culminar este proyecto, habrá más de 12,000 personas viviendo y trabajando en Metropica”, lo cual representa una oportunidad para todos los colombianos que están nuevas fronteras de inversión.

Finalmente, aunque es imposible predecir qué va a suceder en términos políticos y económicos a partir de las elecciones presidenciales en Colombia, lo que sí sabemos es que cada vez son más los colombianos que están investigando y ampliando su conocimiento sobre las posibilidades de inversión en países como Estados Unidos para así garantizar su estabilidad y su bienestar.

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Seeing Jade

February 1, 2018
There are few South Florida developers as ubiquitous as Edgardo Defortuna. Founder, president and CEO of Miami based Fortune International Group, Defortuna has more than 30 years of experience and is considered a visionary in South Florida real estate. His projects include 1200 Brickell, Artech, Auberge Beach Residences & Spa Fort Lauderdale, Hyde Resort & Residences Hollywood and The Ritz-Carlton Residences, Sunny Isles Beach. Defortuna and his wife, Ana Cristina, are also the driving forces behind the Jade brand: Jade at Brickell Bay, Jade Beach, Jade Ocean and, now under development, the couple’s crowning achievement: the Herzog & de Meuron-designed, 192-unit Jade Signature in Sunny Isles Beach, which opened in December.

Read the full interview here.

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Constructor de un Imperio

February 1, 2018

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Traits Of A Successful Real Estate Investor

January 31, 2018
The traits of successful real estate investor often surface early in life then evolve to play a fundamental role in a career. Here’s three investors/developers who have stayed in the game with big wins.

Edgardo Defortuna

Edgardo Defortuna’s Fortune International Group  is recognized as a leader in high-end luxury real estate throughout South Florida, Latin America and Europe. Defortuna came to Miami in 1983 from Argentina with a degree in electrical and mechanical engineering starting his company that year. Today, Fortune International Group is noted for shaping Miami’s dynamic skyline with luxury projects. Its portfolio of developments includes Jade Residences at Brickell Bay, Jade Beach, Jade Ocean, Auberge Beach Residences & Spa Fort Lauderdale, The Ritz-Carlton Sunny Isles Beach and Jade Signature.

For Defortuna, determination is what counts. “When I want to get something done, I am very determined.” He points to the project, Jade Residences at Brickell Bay. “I decided it was the building that would position us as top of line Miami luxury developers, then 9/11 happened. Rather than lying down seeing what would happen economically we built a sales center so buyers who had reservations could see were moving ahead and sign sales contracts,” Defortuna said. “We took some risk and it paid off.”

Listen to Paul Habibi, Continuing lecturer of Finance and Real estate at UCLA Anderson Graduate School of Management. “Successful investors and developers must always use good judgement. You can’t be driven by ego,” says Habibi an investor himself for the past 22 years. “If you let your ambition get ahead of yourself, you will take risks that may grow your investments in the upcycle but will take you out in the down times.”

Art Falcone

As Founder and Managing Principal of Miami Worldcenter, one of the largest master-planned urban environments in the United States, Art Falcone knows about controversy while maintaining and executing a vision. Miami Worldcenter encompasses more than 30 acres across nine blocks in the heart of downtown Miami. Upon completion, the entitled project allows for more than 15 million square feet of mixed-use multi-billion-dollar development, including retail, restaurant and entertainment, hotel, residential, and office. “With Miami Worldcenter, I had the vision 14 years ago of what I thought would work. It started with an auction property next to the Miami arena.”

Falcone’s career began in the food service industry. At 22, he became the youngest operator of a McDonald’s franchise ultimately growing that to more than 100 McDonald’s, Wendy’s and other family-style restaurants throughout New York, Florida and California. “Growing up in Queens, I was very sports orientated which gave me a big leg up in being competitive and wanting to win,” Falcone said.

Win he did indeed. In 2005, Falcone sold his homebuilding and land development company Transeastern Properties, Inc for $1.6 billion. “When you come from nothing you have to work a lot harder to get ahead. Starting from zero you are always the underdog which led me to define the traits for my real estate business.”

Shahab Karmely

In 1978, at age 16, Shahab Karmely born in Tehran, immigrated to the United States with his family. Political circumstances forced Karmely’s family to exile to Europe for several years, they then returned to the United States.

Today, Karmely, through his New York-based real estate investment and development firm, KAR Properties  has acquired a significant real estate portfolio. Assets, in KAR projects in New York, Miami and Los Angeles total over 5 million square feet. In Miami development of two luxury condominium projects, One River Point and 2000 Ocean demonstrate Karmely’s confidence in Miami’s future.

In 1985, Karmely negotiated his first deal which he calls, “probably the best deal I ever made” He purchased an upper east side townhouse for $1 million on a handshake. “I was standing on the sidewalk in the pouring rain and negotiating. The tenants were gone and there were structural issues. I only had $100,000 for a deposit. The deal was I would I get the financing and move forward without even an engineer looking at the property,” Karmely recalls.

“I was naive but believed in the building and the block. I was totally open to taking risks which I probably wouldn’t do now. Today, I would over analyze it,” he concludes. Today the building is home to a number of art dealers.

On the flip side perseverance when a deal goes sideways then moving forward with lessons learned, Karmely believes is key to his success.

No surprise persistence and determination are mandatory to have staying power in an industry where many make millions only then to lose their fortune.

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The Herzog & de Meuron’s Jade Signature Receives TCO, Begins Closings In Sunny Isles Beach

January 30, 2018
After a grand countdown to completion that featured the installation of a giant 65,000-pound, 38-year-old kapok tree at the tower’s base and the unveiling of “Bonhomme Universe,” the tower’s new gemstone snowman by Daniel Knorr, Jade Signature has officially received its temporary certificate of occupancy (TCO) in Sunny Isles Beach. Closings have begun and residents are now slated to begin moving in within the next few weeks (January 30, 2018). Jade Signature was developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, designed by the Pritzker-Prize winning architecture firm Herzog & de Meuron, in collaboration with Parisian interior designer Pierre-Yves Rochon (PYR) and landscape architect Raymond Jungles, and financing provided by HSBC. Sales and construction began in 2013. 95% of the 192 residences have been purchased by an array of buyers spanning the U.S., Latin America and Europe. With this initial TCO achieved, the development team expects that the building will be fully completed for its official opening at the end of the first quarter.

“We are so proud to be of delivering this masterpiece to the world,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Our buyers have long recognized our vision and strength, knowing full-well what the final result will be when a group of industry leaders set out to create something extraordinary.”

“Like the kapok tree’s symbolism of strength and resiliency, and the jewel-adorned, snowman-shaped ‘Bonhomme Universe’ sculpture’s embodiment of Miami’s unique diversity, Jade Signature, as a whole, is a testament to rare artistry and singular design,” Defortuna continued. “This particular project is the pinnacle of the Jade brand’s journey, representing the growth of a legacy and its future admiration by generations to come.”

While the tower is nearly sold out, Jade Signature has a limited selection of residences remaining among the tower’s most luxurious units. Known as “The Collection,” the portfolio is a compilation of two-story Sky Villas and penthouses, ranging from $14.2 million to $32.9 million. The Sky Villas feature flow-through views, expansive terraces, private elevators, smart technology, service quarters and PYR-designed bathroom cabinetry. There are also two, full-floor penthouses with all the features of the sky villa as well as a private pool, gym and 360-degree views of the Atlantic Ocean, Intracoastal Water and the Miami skyline. Additional availability includes 3- to 5-bedroom residences, with sizes starting at 3,312 square feet and prices starting at $4.8 million.

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Fort Lauderdale’s Auberge Beach Residences & Spa Tops Off Both Towers, Set For Completion In The Spring

January 30, 2018
The highly anticipated opening of Auberge Beach Residences & Spa is one day closer—the Fort Lauderdale luxury development recently topped off its two towers.

Located directly on the beach, the 171-unit project is one of the highest-selling condos in the city, with $8.9 million and $9.5 million record-breaking penthouse sales.

Auberge Beach Residences & Spa offers 450 linear feet of frontage to the Atlantic Ocean with resort-style amenities and services. These include a spa, a signature restaurant, a Napa Valley Wine Cellar, 24/7 valet and concierge services, a fitness center overlooking the pool deck, an aboutGolf golf simulator and more.

The residential towers boast one- to five-bedroom condos, all having spacious floor plans with oceanfront terraces and kitchens with Italian cabinetry and stone countertops.

The north tower is 97 percent sold and is expected to be completed in the spring. The south tower is 70 percent sold and has a projected completion date for this summer. For more information, visit aubergebeach.com.

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Auberge Beach Residences & Spa Reaches Final Height in Fort Lauderdale

January 30, 2018
Two curving additions to Fort Lauderdale’s beachfront have reached their final height. Developers The Related Group, Fortune International Group and The Fairwinds Group joined builder Moss to celebrate the topping off of Auberge Beach Residences & Spa Fort Lauderdale, which now stands 23 and 17 storeys above the Atlantic Ocean shoreline.

The two-tower development made waves during its marketing cycle for a pair of record-breaking penthouse sales, which went for $9.5 million and $8.9 million apiece. The 171-unit project designed by Nichols Brosch Wurst Wolfe & Associates features floor plans designed for multigenerational living, which are replete with gourmet kitchens and oceanfront terraces. Residences begin on the second floor of each tower and range from one to five bedrooms and 1,500 to 5,000 square feet.

The development at 2200 N. Ocean Boulevard fronts 450 linear feet of the ocean coastline and contains a number of resort-style amenities and services, including a spa and restaurant, state-of-the-art fitness centre, a golf simulator, and multiple multimedia and gaming facilities.

A bird’s-eye view of the site provided by Moss and Smith Aerial Photos showcases the meandering massing of the two towers as cladding continues to seal the structure. The shorter north tower, which is 97 percent sold, is expected to complete first, in the spring. The 70-percent-sold south tower has an anticipated delivery date of summer 2018.

Additional images and information can be found in the Database file linked below. Want to get involved in the discussion or share your photos? Check out the associated Forum thread or leave a comment in the field provided at the bottom of this page.

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Herzog & De Meuron-Created Jade Signature Receives TCO, Begins Closings

January 29, 2018
With the finishing touches of a giant kapok tree now firmly planted at its entrance, and a new public work of art installed along its shoreline,Jade Signature — Miami’s most architecturally extraordinary oceanfront address – has received its temporary certificate of occupancy (TCO), signaling the start of closings for the ocean-facing luxury tower. Residents are now slated to begin moving in within the next few weeks.

Developed under the leadership of husband-and-wife team Edgardo and Ana Cristina Defortuna of Fortune International Group, and created by the Pritzker-Prize winning architecture firm Herzog & de Meuron — in collaboration with Parisian interior designer Pierre-Yves Rochon (PYR) and landscape architect Raymond Jungles — sales and construction began in 2013. To date, 95% of the 192 residences have been purchased by an array of buyers spanning the U.S., Latin America and Europe. Financing for the 57-story tower, which is located at 16901 Collins Avenue in Sunny Isles, was provided by HSBC. With this initial TCO achieved, the development team expects that the building will be fully completed for its official opening at the end of the first quarter.

Nearly sold out, Jade Signature has a limited assemblage of residences remaining among the tower’s most luxurious units. Known as “ The Collection,” the portfolio is a compilation of two-story Sky Villas and penthouses, ranging from $14.2 million to $32.9 million. The Sky Villas offer stunning features, such as flow-through views, expansive terraces, private elevators, smart technology, service quarters and PYR-designed bathroom cabinetry. The two, full-floor penthouses boast all of these world-class features as well as a private pool, gym and 360-degree views of the Atlantic Ocean, Intracoastal Water and the Miami skyline. Additional offerings include three- to five-bedroom residences, with sizes starting at 3,312 square feet and prices starting at $4.8 million.

The roots of Jade and the journey of its brand trace back to 2004 and Miami’s Financial District, where Jade on Brickell Bay was developed by Fortune International Group. The project’s prominence and accolades eventually paved the way for the creation of Jade Ocean and Jade Beach in Sunny Isles — and now, Jade Signature. Coinciding with Jade Signature’s final stages of completion, the company celebrated an additional milestone in November: the commemoration of nearly 35 years in the luxury residential real estate industry…a benchmark that will be celebrated when Jade Signature officially opens in the weeks ahead.

“We are so proud to be of delivering this masterpiece to the world,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Our buyers have long recognized our vision and strength, knowing full-well what the final result will be when a group of industry leaders set out to create something extraordinary.”

“Like the kapok tree’s symbolism of strength and resiliency, and the jewel-adorned, snowman-shaped ‘Bonhomme Universe’ sculpture’s embodiment of Miami’s unique diversity, Jade Signature, as a whole, is a testament to rare artistry and singular design,” Defortuna continued. “This particular project is the pinnacle of the Jade brand’s journey, representing the growth of a legacy and its future admiration by generations to come.”

For more information, contact (305) 907-7493, or visit www.jadesignature.com.

Fortune International Group

Synonymous with excellence, quality, customer service and unwavering commitment to the highest standards of luxury, Fortune International Group has been a recognized leader in development, sales and marketing since 1983. The company’s prestigious development portfolio includes many of the most prominent residential in South Florida including Jade Signature, The Ritz-Carlton Sunny Isles, Auberge Beach Residences and Spa Fort Lauderdale and Hyde Resort & Residences Hollywood. In addition, Fortune Development Sales is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having represented some of South Florida’s most successful projects with thousands of sales to date. Led by visionary founder Edgardo Defortuna, Fortune International Group has 18 offices around the world with nearly 1,000 associates. Fortune’s international broker network reaches legions of prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris. www.fortuneintlgroup.com.

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Joya arquitectonica en el corazon de Miami, Brickell Flatiron

January 2018

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This week in Miami Real Estate:  Auberge Beach Residences & Spa Fort Lauderdale officially topped off

January 26, 2018
A recent study from Abodo found that South Florida is rife with real estate jobs. In fact, the Fort Lauderdale area, which includes Pompano Beach and Deerfield Beach, has the largest concentration of sales and real estate jobs in the country, with 142.4 jobs of every 1,000 are in those fields. Miami/Miami Beach/Kendall isn’t far behind at 132.2.

Elsewhere in Miami real estate news this week:

  • The most recent Swanepoel Power 200 list of real estate professionals featured a number from Southeast, including Teresa King Kinney, CEO of the Miami Association of Realtors. Check out the entire list to see which movers and shakers made the cut.
  • The two-tower Auberge Beach Residences & Spa Fort Lauderdale was officially topped off this week. The south tower just reached its full height of 23 stories, while the 17-story north tower was completed in recent months. The north tower is 97 percent sold and expected to be completed by spring, while the south tower is 70 percent sold and expected to be completed by summer. Auberge’s development and construction team includes The Related Group, Fortune International Group, The Fairwinds Group and Moss.
  • Before Arquitectonica was a household name in Miami, it cut its teeth in 1982 with Babylon Apartments in Brickell, instantly recognizable with its bright red color and unique shape that earned it protected architectural landmark status. However, Miami commissioners recently voted to overturn that status, leaving the building’s fate to hang in the balance, the Miami Herald reported. The building’s owner requested the change in hopes of redeveloping the land on Brickell Bay Drive.
  • The Florida Housing Finance Corporation recently announced Ray Dubuque and Ron Liberman as its board of directors’ new chair and vice chair, respectively. The two say they’re eager to focus on Florida’s need for more affordable housing for everyone from homeless schoolchildren to veterans and seniors.
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Construction Of Auberge Beach Residences & Spa Reaches Full Height

January 26, 2018
Things are moving at a fast pace in Fort Lauderdale at one of its most luxurious properties. The Related GroupFortune International GroupThe Fairwinds Group and Moss gathered to celebrate Auberge Beach Residences & Spa Fort Lauderdale, the two-tower luxury development sitting directly on the sand. Construction of the property’s 23-story south tower just reached full height and swiftly follows the top off of the 17-story north tower by only a few months.

“We are excited to deliver the most attractive and only on-the-sand luxury residential project in all of Fort Lauderdale,” said Patrick Campbell, Vice President at The Related Group. “Auberge has set a new standard of luxury living with its coastal elegant design, unrivaled list of amenities, luxury services and enviable beachfront access.”

This construction milestone speaks of Auberge’s quick ascent in Fort Lauderdale. Located at 2200 N. Ocean Boulevard, the property offers 450 linear feet of frontage to the Atlantic Ocean and boasts five-star resort-style amenities and services including the brand’s world-class spa and restaurant, a Napa Valley wine cellar, 24/7 valet and concierge, a state-of-the-art fitness center overlooking the pool deck, the world’s best aboutGolf golf simulator, family-friendly children’s playroom as well as a club room with multimedia facilities, billiards and gaming tables.

“Our family is delighted to bring to Fort Lauderdale a project of unprecedented elegance casual sophistication. We look forward to welcoming the community back to our restaurants and signature spa in late fall,” said Andy Mitchell, CEO and President of The Fairwinds Group.

Designed by Nichols Brosch Wurst Wolfe & Associates, the residential towers will have spacious floorplans designed for multigenerational living, expansive oceanfront terraces, gourmet kitchens with Italian cabinetry and stone countertops. Starting on the second floor of each tower, residences range from one to 5 bedrooms and 1,500 to 5,000 square feet.

“We are thrilled to be a part of this project, which exemplifies modern beachfront luxury,” said Scott Desharnais, Executive Vice President of Moss. “We are proud that The Related Group, Fortune International Group and The Fairwinds Group have trusted the quality of our work to bring this concept to life.”

The North Tower, which is 97 percent sold, is expected to complete in Spring 2018, while The South Tower, which is 70 percent sold, has a projected completion date in Summer 2018.

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Auberge Beach Residences & Spa Officially Tops Off in Fort Lauderdale

January 26, 2018
The Related Group, Fortune International Group, The Fairwinds Group and Moss celebrated the topping out of Auberge Beach Residences & Spa Fort Lauderdale, the two-tower luxury development which is one of the highest-selling condos in Fort Lauderdale with 2 record breaking penthouse sales at $8.9 million and $9.5 million. Construction of the property’s 23-story South Tower just reached full height, following the top off of the 17-story North Tower in July 2017.

“We are excited to deliver the most attractive and only on-the-sand luxury residential project in all of Fort Lauderdale,” said Patrick Campbell, Vice President at The Related Group. “Auberge has set a new standard of luxury living with its coastal elegant design, unrivaled list of amenities, luxury services and enviable beachfront access.”

“Our family is delighted to bring to Fort Lauderdale a project of unprecedented elegance casual sophistication. We look forward to welcoming the community back to our restaurants and signature spa in late fall” said Andy Mitchell, CEO and President of The Fairwinds Group.

“We are thrilled to be a part of this project, which exemplifies modern beachfront luxury,” said Scott Desharnais, executive vice president of Moss. “We are proud that The Related Group, Fortune International Group and The Fairwinds Group have trusted the quality of our work to bring this concept to life.”

Auberge Beach Residences & Spa features 171 flow-through condominium residences spread over two towers designed by Nichols Brosch Wurst Wolfe & Associates with interiors by Meyer Davis Design Studio. Located at 2200 N. Ocean Boulevard, the development sits directly on the sand with over 450 linear feet of oceanfront. Units range from 1,500 SF one-bedroom to 5,000 SF five bedroom floor plans designed for multigenerational living which all feature private elevator access, gourmet kitchens with stone countertops, sunrise and sunset terraces, and floor-to-ceiling glass for unobstructed ocean views. Amenities include five-star, resort style staff and services; 2 beachfront swimming pools, full-service spa, 2 restaurants, multimedia facilities, resident’s lounge club room, billiards, golf simulator and a state-of-the-art fitness center.

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Bitcoin is booming in Miami. But can you buy a house with it?

January 26, 2018
They gathered in downtown Miami — an estimated 4,350 Bitcoin believers — to trade pitches for apps and start-ups. They discussed and debated trends in cryptocurrency. They speculated about the volatility of Bitcoin, which shot up in value from $900 to $19,000 over the course of 2017 and is currently hovering around the $10,000 mark.

But despite the national stir created last fall when a $544,500 Edgewater condo was listed for sale in “Bitcoin only,” none of the panels or presentations at Miami’s sixth annual North American Bitcoin Conference focused on real estate. Although Bitcoin is the oldest and best-known of the nearly 1,500 kinds of cryptocurrencies currently available, real estate developers, brokers and analysts are cool on its use in an industry that is literally defined by physical assets.

In other words, if you’re hunting for a home, don’t worry that you’ll get outbid by a buyer offering cryptocurrency. At least not yet.

“I think it’s fine to buy Bitcoin, because high risks lead to high returns, and I believe in capitalism,” said Nela Richardson, chief economist for Redfin, a national real estate brokerage. “But when you come to buy my house, I’m going to need a currency that I can use to buy milk at the grocery store. I wouldn’t accept junk bonds or a lottery ticket as a payment. Any currency that drops 45 percent in value within three months, like Bitcoin has done, is not a currency that is stable enough for large transactions.”

According to Redfin, only 134 out of the site’s total 568,000 listings in December 2017 — a minuscule .03 percent — included a Bitcoin mention.

Created in 2009, Bitcoin is digital currency tracked on decentralized ledgers — called blockchains — that keep a real-time, immutable record of every transaction made around the world. Buyer and seller interact directly. Bitcoins can be purchased through a digital currency exchange or broker and are kept in a “wallet” that protects the user’s anonymity. And because the blockchain system is not centralized, security is considered to be significantly safer than current e-transaction software.

For now, at least, Bitcoin is not regulated by any bank, state or nation.

General awareness of Bitcoin and blockchains exploded in 2017 as the cryptocurrency’s value skyrocketed. Earlier this month, the stock price of Eastman-Kodak shot up 89 percent, to $10.70 a share, just a day after the company announced an Initial Coin Offering (ICO) to develop a blockchain system for photographers to secure the digital rights of their work.

Miami is one of the nation’s staunchest and most enthusiastic cryptocurrency hubs, and proponents of Bitcoin argue that cryptocurrency is a perfect fit for real estate. On Dec. 22, the first-ever Bitcoin-only real estate deal in Miami closed, with a buyer paying 17.741 bitcoin — the market equivalent of $275,000 — for a two-bedroom condo at 777 NE 62nd St. in the Upper East Side.

But some experts believe a lot of the hype around Bitcoin is just that — hype. The currency’s value fluctuates so much that the value of a Bitcoin transaction could either gain or lose thousands of dollars in value within a week’s time. In an interview with CNBC on Jan. 10, billionaire investor Warren Buffett warned that the cryptocurrency craze is destined to end badly, costing a lot of people a lot of money.

“We’re in an area of hysteria right now involving Bitcoin,” said Andrew Ittleman, a partner at the Miami law firm of Fuerst, Ittleman, David & Joseph. “There are a lot of people making claims about Bitcoin that they can’t substantiate and for the most part are not meant to be substantiated. I do see a lot of uses for cryptocurrency in real estate, but I don’t see the disruptive effect some people are promising.”

Waning favor?

Andrew Hinkes, a partner at the law firm of Berger Singerman who specializes in technology-related issues, said cryptocurrency is nearing the end of its initial wave of interest from Wall Street and investment by new ventures. Bitcoin still has a long way to go before it is widely embraced by the real estate industry.

“Nothing has really changed insofar as how virtual currencies are impacting real estate,” he said. “A lot of people saw tremendous gains in the values of their holdings in 2017. But now that the IRS has made clear how they want to treat the gains on crypto like Bitcoin, there’s uncertainty in the market as to how you sell them and find value. In South Florida, that’s traditionally in the ground. But if you want title insurance, or if there are any liens or taxes that are owed, those will have to be payed with fiat currency.”

Although the Internal Revenue Service taxes Bitcoin capital gains — if you cash out for a profit, the IRS gets a cut — there’s no procedure in place that forces people to report those transactions. (In November, the IRS ordered Coinbase, a platform for buying and selling Bitcoin, to turn over information on accounts from 2013-2015 that were worth at least $20,000.)

The current lack of regulations is one of Bitcoin’s biggest draws for its users. And despite suspicion that Miami’s real estate market is prey to money launderers, it can be a deal-breaker for real estate. For example, South Korea, the third biggest cryptocurrency market in the world (after Japan and the U.S.), has banned anonymous cryptocurrency transactions, fearful of the potential for shady business.

That uncertainty and lack of transparency, combined with cryptocurrency’s volatility, is making real estate developers and investors wary.

“Bitcoin is too new of a form of currency,” said Daniel de la Vega, president of One Sotheby’s International Realty. “Anything that operates in a gray area is not something I would want to associate with. I do believe in the future of cryptocurrency. I’m just not bullish on it short term.”

The Miami Association of Realtors reports that sales of luxury ($1 million and above) condos and single-family homes in Miami-Dade County surged 47 percent and 16 percent respectively year-over-year in December. But the market is still glutted by too much supply, which caused the average luxury sales price to fall 6.3 percent in 2017, according to Mansion Global.

Still, the need to sell expensive properties is not enough to make developers rally behind Bitcoin — at least for now. Gil Dezer, president of Dezer Development, said if a buyer made a Bitcoin offer right now on one of the multimillion dollar condos at the Porsche Design Tower in Sunny Isles Beach, he would turn them down.

“If Bitcoin is so easily transferable to cash, why do they need to pay with that?” Dezer said. “Why can’t they transfer it into cash first and pay with that? The transverse effect of that is the seller receiving the money. If he wants Bitcoin, he can take the cash and buy Bitcoin. Why would you use Bitcoin in the actual transaction?”

Peggy Fucci, CEO of One World Properties, said she has yet to come across a buyer or seller interested in using Bitcoin as a form of payment, but she understands Bitcoin’s buzzy appeal.

“I think the general consensus from the developers I work with and represent is that the whole deal with Bitcoin and real estate is a marketing thing — a way to get exposure for your property,” she said. “I don’t see it as a real thing yet. Most people don’t even know about Bitcoin and cryptocurrencies in general. Eventually, it is something that will be inevitable. But right now, it’s too early. We don’t use it. Instead, people are riding the wave of a phenomenal stock market.”

Realtors wary

Some Realtors who have had first-hand experience with Bitcoin agree that cryptocurrency isn’t yet ready for prime time in the real estate field.

Edgardo Defortuna, president and CEO of the real estate firm Fortune International Group, said his company has been involved in two listings where Bitcoin was in play: A $4.6 million home on Sunset Island where the seller accepted Bitcoin (the house eventually sold for $3.8 million via conventional loan) and a Key Biscayne condo currently on the market for $1.5 million (the seller received and turned down an offer for $1 million in Bitcoin).

“Bitcoin was talked about a lot last year because of the appreciation, but it has scared a lot of people away in the last month or two,” Defortuna said. “Cryptocurrency could be a player [in real estate transactions] in the future, but I’m not sure this Bitcoin craziness is the way to go yet.”

But Charles Penan, executive vice president of the real estate investment and merchant banking firm Aztec Group Inc., takes a more flexible approach. He currently has a property for sale at 4141 N. Miami Ave. in Miami’s Design District — a three-story, nearly 16,000 square-foot building — for $14.5 million. The seller, Remy Jacobson of J Cube Development, is accepting cryptocurrency as payment.

“Crypto is a very viable alternative to traditional financing — for the right buyer and right seller,” said Penan. “They have to be more entrepreneurial. Bitcoin does not work for institutions, because they are more transactional and want instant gratification. They don’t want to assume any risk of fluctuation.”

Others are already doing due diligence, preparing themselves for what they believe to be an inevitable and radical change in traditional real estate transactions. Beth Butler, general manager of Compass Florida, a technology-focused real estate firm, said her company isn’t accepting Bitcoin yet. But she’s currently researching the field, tapping experts to figure out the problems that need to be solved before cryptocurrency can be readily used.

“So far, people are very open to it,” Butler said. “The appeal is that blockchain could make real estate transactions more secure. You wouldn’t have the wire fraud or hacking fraud that has been plaguing our industry in the last few years. But there’s a lot more that needs to be defined on a large scale first. The concept of blockchain suggests to me that state law and regulators will have to adopt some kind of policy to accept it.”

An optimistic gathering

Bitcoin believers, however, remain undaunted. German Montoya, chief strategy officer for the Miami-based venture-building company Rokk3r Labs, said the volume and enthusiasm of attendants at the North American Bitcoin Conference — far bigger than the roughly 100 people who turned out for the inaugural edition in 2012 — is evidence that cryptocurrency is destined to take hold.

“For a long time, the only thing you could do with Bitcoin was buy and sell it,” Montoya said. “There are only a few coffee shops in the world that take Bitcoin, for example. The more Bitcoin is used for real things, the more this coin will become a real alternative to others.”

At the conference, the main exhibition hall was crammed with start-ups hoping to use blockchain technology for everything from Bitcoin ATMs to virtual reality. Dr. Gor Van Ek, a respected figure in the blockchain field, flew in from Australia to promote his latest endeavor, Bitcar, a platform that will allow users to purchase an interest in exotic, rare and classic cars — a way of investment that has been traditionally exclusive to the wealthy.

“This is the third or fourth year that I’ve gone to that conference, and I had never seen this sheer scale and number of people who attended,” said Hinkes, the attorney. “That signals a certain threshold of consumers have been reached. Bitcoin is starting to make an impact and insinuate itself into the mainstream.”

Many of the panels at the conference delved into upcoming regulation that would stabilize Bitcoin and other cryptocurrencies for both consumers and government entities. That kind of regulation, if successful, could presumably offset Bitcoin’s volatility and make it a more viable and dependable medium for large-value transactions.

“Once there are enough things to spend Bitcoin on directly, the real estate market could never be a reason to go back to the dollar,” Montoya said. “You could have a whole economy where you use Bitcoin to buy and sell and spend.”

The questions, for now, are how long that wait will be and whether Bitcoin’s seesawing value can stabilize. Six weeks after all the hubbub, that Bitcoin-only condo in Edgewater still hasn’t sold. On Jan. 24, the price on the listing was quietly raised to 37 Bitcoin.

Despite the apparent increase, though, the adjustment actually brought the value of the condo down in dollars — from $525,000 to $410,000.

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Auberge Beach Fort Lauderdale tops off both its towers

January 25, 2018
Auberge Beach Residences & Spa Fort Lauderdale just hit a construction milestone. The two-tower luxury development’s 23-story South Tower just reached full height, which is happening a few months after the 17-story North Tower topped off.

The North Tower, which is 97 percent sold, is expected to be completed this spring and the South Tower, which is 70 percent sold, is anticipated to be completed this summer.

Amenities for the 171-unit development includes 450 linear feet of frontage to the Atlantic Ocean, a wine cellar, fitness center and spa, aboutGolf golf simulator, and a children’s playroom. Units will offer oceanfront terraces and kitchens with Italian cabinetry and stone countertops.

Notable buyers include Miami Dolphins legend Dan Marino, NHL player Jacob Trouba, and The Related Group CEO Jorge Pérez. Meanwhile, its penthouse sales broke records last year.

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Some impacts of new tax law on local real estate are clear. Some aren’t.

January 18, 2018
Even though the sweeping tax reform bill was signed into law on Dec. 22, the massive document is so dense that even seasoned real estate professionals aren’t entirely sure what it will mean for Miami.

While some of the bill’s real estate provisions are clearly delineated, other portions are “riddled with errors,” said Dustin Stamper, director of the Grant Thornton Washington National Tax Office.

Those, and “handwritten notes on the margins,” are indications that the bill was written in a rush, Stamper told attendees at a Wednesday breakfast hosted by the real estate committee of the Greater Miami Chamber of Commerce. As a result, he expects the law will undergo technical corrections and other tweaks in the weeks to come.

“It’s going to be the wild west in the tax world,” Stamper said.

These impacts are clear:

▪ The limit for the mortgage interest deduction will be lower. Previously, homeowners with loans of up to $1 million could write off the interest of their mortgages. Now, the amount has been lowered to $750,000. (The change will only affect new loans; existing loans will be grandfathered in). The deduction also applies to second homes. (Industry pros think this could impact the sales of homes between $750,000 to $1 million. But they differ in how important that market is.)

▪ Deductions for income, sales and property taxes, which were previously unlimited, are now capped at $10,000. But the new cap could lead more residents of states with high property values and state income tax to South Florida. That boost could help to offset an expected slowdown of new sales of homes priced within the $750,000 to $1 million range, whose interest can no longer be deducted.

Vanessa Grout, president of CMC Real Estate, developers of the 64-story Brickell Flatiron luxury condo currently under construction in downtown Miami, said she has already seen the inbound website traffic from New York buyers triple in volume within the past month. Three penthouses in the building, ranging in price from $1.5 million to $3 million, were bought by New Yorkers in the first two weeks of January alone, she said.

Some of the issues pondered during the hour-long conference: How the bill will impact estate taxes (probably not much, speculated real estate pros); whether corporations will be encouraged to stop holding their investments overseas (yes); and the disconnect between what the bill will deliver and what taxpayers expect. (Stamper said nearly every income bracket will receive a tax cut, despite the caps on deductions.)

Wednesday’s pow-wow between real estate professionals is just one of many more to come, said Arthur “AJ” Meyer, chair of the Greater Miami Chamber of Commerce and vice president of business development at the ANF Group construction/development firm.

“This is a complicated bill, and it’s going to take a while for everyone to get a good grasp on all its parts — including professionals,” said Meyer, who organized Wednesday’s conference.

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Tallest Residential Building South Of Manhattan Opening March 2018

January 17, 2018
Panorama Tower, the tallest residential building south of Manhattan, will open to residents beginning in March.

Other new details:

  • Rental prices average about $3 per square foot
  • Leasing broker Edgardo Defortuna thinks the building could eventually be converted to condos, according to The Real Deal
  • The Hyatt Centric Brickell hotel in the tower will actually open sooner, in February (the Hyatt website is not yet accepting reservations until May)

Square Footage and Pricing:

  • One, two and three bedrooms available
  • One bedrooms range from 1,134 to 1,153 square feet. Prices starting from $2,525.
  • Two bedrooms range from 1,125 to 1,630 square feet. Prices starting from $2,758.
  • Three bedrooms range from 2,175 to 2,191 square feet. Prices starting from $6,736.
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Developer of Miami’s tallest tower taps Fortune Development Sales to handle apartment leasing

January 16, 2018
UPDATED Jan. 26, 1:10 p.m.: Renters will be able to move into Miami’s tallest tower starting in March.

Tibor Hollo’s Florida East Coast Realty just tapped Fortune Development Sales to take over leasing efforts at Panorama Tower. Rents at the luxury mixed-use building will start at $2,525 for an 1,134-square-foot one-bedroom to $6,736 for a three-bedroom, 2,175-square-foot apartment, a spokesperson said. Two-bedroom apartments will range from 1,125 square feet to 1,630 square feet and start at $2,758.

The 85-story development at 1100 Brickell Bay Drive will open in two phases, starting with the 208-room Hyatt Centric hotel in February. Residents will be able to move into the building’s 821 units the following month. Once Panorama is completed, the 868-foot tower will be the highest in Florida and the tallest residential tower south of Manhattan.

Fortune’s Lorenzo Rodriguez will handle leasing with a team of five agents. Fortune president and CEO Edgardo Defortuna, who has sold thousands of condo units in the neighborhood, called the leasing assignment “perfect timing in the market” since condo sales have slowed significantly.

“Even though I know there were other [firms] being considered … Tibor [Hollo] and his team were very supportive of us being the ones to handle this project,” Defortuna said.

Panorama’s apartments are geared toward young professionals and will feature a music room, three private movie theaters, a yoga/pilates studio and a pet spa. Additionally, the hotel will share its amenities with residents, including a full-service spa, fitness center and pool. The building will also have about 100,000 square feet of office space and 50,000 square feet of retail space.

While rents will be reduced for residents who don’t need a parking space or for those with electric cars, the developer is not planning on offering incentives, Defortuna said.

FECR could also eventually convert the rentals to condos, like it did with Opera Tower and others in Miami’s urban core. Once the condo market strengthens, Defortuna said he could see the developer converting the luxury units to condos in the long term.

The developer financed construction of the roughly $800 million project with a $340 million construction loan from Wells Fargo in March 2015, the second biggest loan to close that year in South Florida.

Last year, Tutor Perini Building Corp., the former contractor on the Panorama project, filed a lawsuit in Miami-Dade Circuit Court against FECR alleging it failed to turn in project designs on time and revised project plans as recently as October without giving a deadline extension — allegedly resulting in millions of dollars in unpaid work.

An earlier version of this story listed an incorrect address and unit sizes.

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Three South Florida Cities To End 2018 With New Tallest Buildings

January 8, 2018
South Florida’s development boom will produce three new tallest buildings in the cities of Miami, Sunny Isles Beach and Fort Lauderdale, and residents of these landmark projects will overlook kilometres of the Atlantic Ocean from hundreds of metres in the sky. Panorama Tower and Muse Residences have already eclipsed the competition in their respective cities and ushered in a new age of highrise luxury living, while 100 Las Olas is poised to do the same in the coming months.

Florida East Coast Realty is gearing up to welcome residents to the 85-storey, 265-metre-tall Panorama Tower, which boasts 821 luxury rental apartments, 208 hotel rooms, 50,000 square feet of retail space, and 100,000 square feet of medically oriented office space. An towering stamp on the skyline, the mixed-use development contains an entire floor dedicated to amenities. The 45,000-square-foot facility includes three private theatres, a sports lounge, a fitness centre, multiple social lounges, and private dining and wine tasting rooms. An additional space on the 22nd floor completes the experience with two heated pools and an adjoining sundeck and restaurant overlooking the skyline and Biscayne Bay.

The 198-metre Muse Residences is also approaching completion in Sunny Isles Beach, where Property Markets Group and S2 Development have executed the city’s tallest building. Designed by Carlos Ott and architect of record Sieger Suarez, the project’s twisting form donates space to fully furnished residences that divide each floor in the middle, creating two units that bear balconies running the entire width of the tower. It too comes packed with amenities, including a residents’ lounge, vanishing edge pool, fitness centre, and an automated parking system.

Like Panorama Tower, Fort Lauderdale’s 100 Las Olas will be occupied by a mix of programs, including residential, hotel and retail space. The SB Architects-designed development launched by developer Kolter Group features 121 residences, 238 Hyatt Centric hotel rooms, and 8,500 square feet of commercial retail space across 46 storeys. Scheduled to deliver in fall 2019, floor plans range in size from 1,501 to 2,964 square feet, and include two- to three-bedroom residences with floor-to-ceiling windows. Another expansive amenities package takes advantage of South Florida’s subtropical climate, with an elevated resort-style private pool, day cabanas and multiple lounging areas available.

Additional images and information can be found in the Database files linked below. Want to get involved in the discussion or share your photos? Check out the associated Forum threads or leave a comment in the field provided at the bottom of this page.

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Check Out the First Renderings of The Auberge Spa at Auberge Beach Residences

January 8, 2018
Good things come to those who wait, so it looks like we’ll have to wait a little bit longer to see the new Auberge Beach Residences & Spa Fort Lauderdale. Originally slated to open in January 2018, the new luxury locale has decided to delay its grand opening to ensure every last detail will be perfect for guests. The new Auberge property is now expected to open to the public in June or July 2018.

The 10,000-square foot spa will include a full-service salon, four massage rooms, two skincare rooms, a specialty massage room with a sand bath table, a body treatment room, a couples suite with soaking tub, a plunge pool, and sound lounge area. Outdoors, guests will find two outdoor treatment cabanas, a garden, and swimming pools with cabanas that offer food and beverage options, all of which overlook the Atlantic Ocean. Also providing an ocean view is the resort’s 6,000-square foot state of the art fitness center.

The Auberge Spa at Auberge Beach Residences is centered on the concept of casual elegance. To embody a relaxed sense of luxury, the design team incorporated a number of outdoor elements into interior spaces to keep an open flow between all areas. Spa designer Tracy Lee has curated the treatments and treatment program for The Spa at Auberge. Lee was inspired by the sun, sand, and surf available just outside the residences while curating the new spa menu, so much so that she infuses both sand and salt into the treatment menu, which is designed to both relax and invigorate clients.

Sample treatments include the Himalayan Salt Stone Massage; Sound & Sand Massage; Magnetic Sand Therapy; Sea Drift Couples Ritual; Targeted Massages; Coconut Cardamom Polish & Mango Butter Massage; Himalayan Salt Detox Exfoliation & Body Wrap; Hair & Scalp Treatments; Alchemy Facials; and more.

While the final details like staff and which product lines will be used are still being ironed out, the renderings of the property prove that this south-Floridian getaway will be worth the wait.

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The Related Group, Fortune International Group and The Fairwinds Group teamed up to offer a luxurious evening of philanthropy

January 8, 2018
The holiday season may be over, but Auberge Beach Residences & Spa Fort Lauderdale is still in the spirit of giving. Those who were able to attend this lovely event were in for a surprise. The Related Group, Fortune International Group and The Fairwinds Group teamed up to offer a luxurious evening of philanthropy and fun as they partnered with Joe DiMaggio Children’s Hospital Foundation.

Auberge and David Yurman held an intimate wine tasting event hosting buyers and brokers. The 40 Guests were also able to participate in an exclusive shopping experience with pieces from David Yurman‘s latest collection as they sampled an incredible selection of August Wines.

The event ended up raising a total of $4,116.50 for the Joe DiMaggio Children’s Hospital Foundation. Established in 1994, Joe DiMaggio Children’s Hospital Foundation ensures the availability of safe, quality, cost-effective care, regardless of one’s ability to pay.

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2018 Preview: 10 Most Anticipated Miami/South Florida Venues for Meetings and Events

January 2, 2018
Looking for a new venue for your next event? Here are the most anticipated Miami/South Florida restaurants, corporate event venues, hotels, conference centers, and party rooms slated to open in 2018. These new and renovated Miami/South Florida venues will accommodate groups large or small for private and corporate events, conferences, meetings, weddings, business dinners, teambuilding activities, cocktail parties, and more.

1. Miami Beach Convention Center is finishing a $515 million renovation and expansion, which is slated to debut in September 2018. The venue will grow to 1.4 million square feet and include a 60,000-square-foot ballroom. A new public park across the street will have lawn space available for events. The project will seek a silver LEED certification and includes design provisions to address sea-level rise.

2. In October, Royal Caribbean plans to unveil a new terminal at PortMiami as home to two cruise ships, Allure of the Seas and its newest ship, the 5,494-passenger Symphony of the Seas, which sets sail from Barcelona in the spring and is expected to sail from Miami beginning in the fall. Terminal A is intended to be LEED certified and will house check-in, security, and a light-filled Grand Hall. The terminal is expected to see 1.8 million travelers a year, more than double the current total of 750,000 passengers a year.

3. Lauded chef Thomas Keller is planning to open his first restaurant in South Florida at the Four Seasons Hotel at the Surf Club in early 2018. The chef behind French Laundry in Northern California and Per Se in New York has yet to announce the name of the concept or when it will open in 2018, although the resort said it will be designed by Martin Brudnizki. It joins the Italian restaurant Le Sirenuse at the property, which opened in 2017.

4. With flashy amenities such as a glass-bottom rooftop pool, the Celino South Beach hotel is planning an opening in the summer. The 132-room boutique hotel, located on Ocean Drive, will have 6,000 square feet of indoor and outdoor meeting space; overall it can hold reception-style events of as many as 105 guests or banquets of as many as 70. Other spaces include two restaurants: one focusing on Mediterranean cuisine and the other Spanish tapas. The property describes its style as Floridita: “a fusion of 1940s Miami Beach glamour with undertones of simple, classic Floridian accents.”

5. The 10,000-square-foot Auberge Spa is scheduled to open this spring within the Auberge Spa at Auberge Beach Residences & Spa Fort Lauderdale. The spa will offer two outdoor treatment cabanas, a full-service salon, four massage rooms, two skincare rooms, and a specialty massage room with a sand bath table.

6. Coming to Fort Lauderdale Beach in early January is Lona, an upscale Mexican restaurant from chef Pablo Salas. Lona—which translates to “canvas,” an apt name for a chef who loves tattoos—is located at the Westin Fort Lauderdale Beach Resort. With beach views and an indoor/outdoor bar, the space is suited for entertaining and will have multiple private dining rooms as well as a tequila tasting room and private tequila lockers for devotees of the spirit. The menu will offer small plates such as crab-infused guacamole, larger dishes such as 48-hour wagyu brisket, and an extensive cocktail menu with margaritas, sangrias, Micheladas, and more. Its sister restaurant, the 100-seat Tinta, will serve breakfast and is available for private events for 100 seated guests. Other private dining rooms seat 12 and 25 guests, respectively. Overall, Lona will seat 107 inside and 127 on the patio.

7. Restaurateur Stephen Starr announced plans to open El Vez, a Mexican concept that originally debuted in Philadelphia, at the W Fort Lauderdale hotel, which is already home to Starr’s Steak 954. Meyer Davis, which oversaw the hotel’s recent redesign, is also designing the restaurant. It’s slated to open in February.

8. Drive Shack, a golf entertainment complex, plans to open a 60,000-square-foot location in West Palm Beach in late 2018. The three-level space plans to offer 2,500 square feet of meeting and event space, along with its golf and entertainment options: 96 climate-controlled hitting bays that each holds six players; a sports bar and restaurant; a lounge with table and arcade games; and a rooftop terrace.

9. A second location of contemporary Japanese Robatayaki concept Etaru will open in early 2018 at the Related Group’s luxury residential tower Icon Las Olas in Fort Lauderdale. The first U.S. location of Etaru—which comes from the creator of Zuma and Roka London restaurants—debuted in August in in Hallandale Beach.

10. The 111-room Circ Hotel has planned an early 2018 opening in downtown Hollywood. The property will have 3,000 square feet of meeting space as well as a 12th floor rooftop with a pool and bar. Olivia, the hotel’s Italian restaurant from restaurateur Piero Filpi, will have a private dining room called the Cellar with a wine wall comprising more than 800 bottles.

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Missoni Baia Releases New Drone Video Showing Construction Teams Powering Through Phase 1

January 1, 2018
Vladislav Doronin’s OKO Group has released a new drone video showing construction teams powering through the first phase of construction. Since breaking ground in October 2017, 190 piles totaling over 12,000 linear feet have been installed along with 150 tons of steel reinforcing bar, and over 1,000 cubic yards of grout and concrete. Construction crews are gearing up to begin pile cap installation. Missoni Baia will feature 249 condo residences situated along 200′ of frontage on Biscayne Bay at 777 Northeast 26th Terrace. Prices start in the $500,000’s for a 1 bedroom residence. Units range from 1 to 5 bedrooms, and 776 SF to 3,788 SF. Missoni Baia will rise 57-stories, 649′, and was designed by Hani Rashid of Asymptote Architecture, who are pioneers in the convergence of art and technology in architectural design. The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities. Amenities were designed in collaboration with Missoni and offer the comforts of a luxurious resort in a private residential setting. Features include a flow-through deck designed for all-day sunbathing with well-appointed cabanas, 5 swimming pools including an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool, and an infinity-edge pool on the Bayfront Terrace, elevated tennis court and an expansive fitness center and spa overlooking the bay. Missoni Baia is over 30% sold and completion is expected in Fall 2020. The drone construction video can be found here.

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Miami sigue innovando en real estate

Diciembre 27, 2017
Con dos nuevas propuestas, este destino deja en claro que siempre puede ir por más. Con el lujo y la elegancia del The Ritz Carlton Residences Suny Isles Beach y la apuesta al arte de Canvas Condominiums, la ciudad sigue creciendo.

Cuando a mitad de año los huracanes parecían no darle tregua a Miami, muchos se preguntaban que pasaría con el mercado inmobiliario de dicho destino, uno de los preferidos por los argentinos a la hora de salir a concretar inversiones en ladrillos fuera del país. Lo cierto es que los desarrolladores no han visto grandes impactos de la crisis climática, y mientras los nuevos edificios ya se están terminando, los empresarios aseguran que el ritmo de ventas no ha decrecido. Y como prueba de esto, basta con mencionar los ejemplos de The Ritz Carlton Residences Suny Isles Beach y Canvas Condominiums, dos nuevos proyectos que ya prometen engrandecer el destino.

Canvas Condominiums, rodeado de arte

Ubicado en el Arts and Entertainment District de Miami, junto al Wynwood District, el barrio está completamente en auge en este momento por su gran apuesta a la cultura y al arte. Así, es frecuente ver en su agenda óperas, distintas obras de teatro, múltiples instalaciones artísticas y hasta filmaciones de exteriores de películas y series. Todo esto llamó la atención de Nir Shoshani, su fundador y urbanizador.

El próximo año se estarán entregando las primeras unidades de este desarrollo que posee beneficios como dos piscinas, amenities como solarium, racket ball, yoga, tratamientos de relax y estéticos, jam room (habitación acústica, ideal para músicos) y hasta una calle verde para pasear con las mascotas. Todo esto se enmarca dentro de la categoría Affordable luxury. Un high light de esta torre es el Miami Film Festival que proyectará películas aclamadas en el último piso.

A la hora de salir de compras y dejarse llevar por los placeres, Canvas Condominiums ofrece 110 metros de locales, una wine cellar y un restaurant increíble en el rooftop.

Dos estilos, un mismo objetivo: una vida de comodidades donde el diseño está al servicio de las personas.

La marca del Ritz Carlton

La magnífica Sunny Isles Beach cumple 2 décadas y lo celebra con una torre de lujo de 52 pisos dispuesta directamente frente a la playa. Se trata de The Ritz-Carlton Residences Sunny Isles Beach, uno de los proyectos más esperados por los amantes del lujo en el Sur de la Florida.

El proyecto es una obra de Château Group y Fortune International Group, dirigidas por los exitosos argentinos Manuel Grosskopf y Edgardo Defortuna, ambas compañías líderes en el desarrollo de bienes raíces de lujo en la región. El diseño está a cargo de la prestigiosa Arquitectonica y contará con exuberantes jardines diseñados por Arquitectonica GEO. Para entender su impronta, bastará con dejarse impresionar por el lobby de dos pisos de altura con un panel de cristal de cuatro pisos de altura, con vista a la piscina y a la playa.

The Ritz-Carlton Residences Sunny Isles Beach contará con 212 residencias desde 149 m2 a 338 m2, y penthouses de hasta 587 metros cuadrados, con interiores creación del reconocido diseñador Michele Bönan.

“Además de comodidades como el acceso directo a la playa, con sombrillas y camastros, restaurante con servicio a la piscina y a la playa, club para niños con instalaciones de juegos bajo techo y al aire libre y un moderno gimnasio frente al océano, también contaremos con un exclusivo Club Privado en el piso 33, con infinitas vistas en todas las direcciones, además de sala de medios, lounge, dos áreas de bar, área de comida privada con cocina de alimentos preparados, centro de negocios y biblioteca”, comentó Manuel Grosskopf, presidente de Château Group.

La torre se terminará de construir en 2018, en ese momento The Ritz-Carlton Hotel Co. administrará la propiedad, brindándole a los residentes el servicio, la calidad y el toque personal ya legendarios y sinónimos de esta célebre marca.

DATOS
La Florida centraliza el 22% de la inversión extranjera en real estate, siendo Miami el principal destino.
Miami es el estado del país que más capital internacional recibe.

Actualmente, una torre de lujo en Brickell/Downtown puede costar desde US$ 3500/m2.

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Edgewater’s Missoni Baia launches first phase of construction

Dec. 27, 2017
Miami’s Missoni Baia, a high-end condo project rising in Edgewater, announced the first phase of construction has begun for the 649-foot tower after breaking ground a couple of months ago.

A spokesperson for OKO Group says 190 piles totaling over 12,000 linear feet have been installed along with 150 tons of steel reinforcing bar, and over 1,000 cubic yards of grout and concrete. Next, construction crews will begin pile cap installation.

Located at a waterfront site at 777 Northeast 26th Terrace, the 57-story tower is the first branded residential development from Italian fashion and design house Missoni. There are 249 units in all, ranging from 776 to 3,788 square feet. They are priced from $500,000 and the project was about 30 percent sold in August.

Amenities include five swimming pools, an elevated tennis court and fitness center, a spa overlooking the bay, a media room, a beauty salon, a children’s playroom, and a pet spa.

Completion is expected in Fall 2020.

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Daniel Knorr at Jade Signature, Miami Art Week 2017

Earlier this month, Romanian artist Daniel Knorr unveiled one of his emblematic Bonhomme Universe sculptures during the opening of the Herzog de Meuron-designed Jade Signature residential complex. Perched in front of the new Fortune International Group developed tower, the geometric yet textured work incorporates an eclectic array of precious stones from around the world – green quartz, red jasper, moonstone and many more – highlighting the multicultural nature of the real estate project and Miami itself.

Installed on the sun-drenched beaches of Sunny Isles, just up the coast from the main city, the work stems out of a two decade long series that explores how snowman could exist without snow. The chosen material reflect a site specific exploration. Also during Miami Art Week, the artist revealed his Navel of the World at the Bass Museum; mounted as part of Art Basel’s public sector showcase.

Bonhomme Universe is part of a curatorial programme accentuating Jade Signature’s unique vision.

Developed by the Swiss architects Herzog de Meuron, the angled structure features 192 units, all with unobstructed view of the ocean and maximum sun exposure. With interiors designed by Paris firm PYR – led Pierre Yves Rochon, the residential tower includes landscaping by Raymound Jungles. Careful consideration went into ensuring that the pool level flank the beach. Maintaining such a fluid connection is rare along the Florida coastline. This was made possible by burying four car park levels underground. Natural elements run throughout the building, adding to the concept of spatial flow.

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Is Fort Lauderdale the Next Miami Beach?

December 12, 2017
Talk about setting the bar high. The dramatic Auberge Beach Residences & Spa Fort Lauderdale will elevate Fort Lauderdale’s luxury living with two spectacular towers: The North Tower with 57 residences is set to debut in this spring (and is already 97-percent sold) while the larger South Tower, featuring 114 residences, will open later in 2018. Located on 5 beachfront acres on the north end of Fort Lauderdale Beach, the development will feature coastal mid-century interiors by Meyer Davis Studio (whose other hospitality accolades include the 1 Hotel South Beach and New York City’s Nolitan) and resort amenities such as a signature spa, a restaurant, a cigar lounge, a wine cellar, and a state-of-the-art gym. While Auberge will not feature a hotel component, it’s state-of-the-art spa—sure to become one of the best in Fort Lauderdale—will be open to the public.

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Miami, un mercado estable: ventas sólidas y datos concretos lo demuestran

La creciente demanda de vida urbana en el Downtown de Miami está impulsando las ventas constantes de condominios y un aumento en el volumen de alquileres.

La creciente demanda de vida urbana en el Downtown de Miami está impulsando las ventas constantes de condominios y un aumento en el volumen de alquileres, de acuerdo con el Informe de Mercado publicado a mediados del 2017 por la Autoridad de Desarrollo del Downtown de Miami (DDA, por sus siglas en inglés).

Los precios en las rentas permanecen estables, los desarrollos están siendo balanceados con la demanda y las instituciones financieras han aumentado sus condiciones para dar préstamos —todos indicadores de que el Downtown de la ciudad se mantiene en un equilibrio estable a largo plazo.

La reciente culminación de tres nuevas torres de condominios (Brickell Heights East and West y Biscayne Beach), ha traído un total de 1.089 nuevas unidades al mercado, llevando el actual ciclo de desarrollo de condominios más allá de su punto medio de entrega a medida que disminuye el flujo de nuevos proyectos residenciales, y las tasas de absorción para productos en pre-construcción exceden el 70%.

Por primera vez desde que los bienes raíces del Downtown comenzaron su ascenso actual en el 2012, hay más unidades terminadas de condominios (5.180) que en construcción (5.078). Esto significa que, a diferencia del último boom, los desarrolladores se han resistido a la urgencia de construir más de la cuenta o los bancos fueron más estrictos con la financiación.

Un total de 3.365 unidades son esperadas para ser terminadas a finales del 2017, y otros 652 condominios entrarán en el mercado en el 2018, y 1.061 en el 2019, dice el reporte.

Según Anthony Graziano, director de Integra Realty Resources, autor del informe, más del 80% de las 5.000 y más unidades terminadas han sido vendidas, y un 70% de las que están en construcción han sido pre-vendidas.

Graziano comenta que no solo se ha alcanzado un punto en el que hay más unidades terminadas, sino que el inventario que queda para ser vendido está menguando. Esto, según el citado experto, es muy importante, ya que demuestra que no se sigue construyendo más allá de lo que el mercado puede absorber.

Los precios de condominios para reventa bajaron un 6% comparados con el mismo periodo del mes anterior, a $403 por pie cuadrado. Pero, según Graziano, esta baja en el valor de reventa es un reflejo de la voluntad de los vendedores de bajar los precios para estimular las ventas del exceso de inventario del boom anterior, cuando fueron terminadas casi 17.000 unidades, entre el 2006 y el 2008. Mayo del 2017 fue el mejor mes para volumen en reventas de los últimos dos años, con 142 cierres y 160 pendientes.

El mercado de arriendos también se encuentra estable. 969 nuevos apartamentos Clase A han sido entregados en el Downtown de Miami desde el 2012, llevando el número total de unidades multifamiliares en construcción justo por debajo de las 3.600. Los apartamentos de edificios Clase A están logrando arriendos 25% a 35% más altos que los de mayor antigüedad.

Los precios se mantienen estables, la calidad de los productos continúa mejorando y los desarrolladores están actuando responsablemente en el ritmo de entregas. El mercado global de bienes raíces de Miami ha comprobado no inmutarse con la fortaleza del dólar, los recientes huracanes y temores sobre la volatibilidad de la economía.

En definitiva, la profundidad y diversificación de los canales de inversión mundiales es más resistente y menos volátil que en los ciclos anteriores.

Aspectos a resaltar del informa del DDA:

1) El informe cubre las áreas de: Brickell, Downtown, Edgewater, Overtown, Midtown, el Distrito Central de Negocios, y el Distrito de las Artes y Entretenimiento.

2) Superado el punto medio en el ciclo de entregas: El actual ciclo de bienes raíces ha pasado la mitad del ciclo de entregas, con 5.180 nuevos condominios entregados desde el 2012 y 5.078 en construcción.

3) La absorción se mantiene estable: el 70% de los condominios restantes en construcción ya están pre-vendidos.

4) Los desarrolladores han sido moderados: Solo dos torres (Missoni Baia y Aston Martin Residences) son esperadas para iniciar construcción este año, resaltando la moderación exhibida por los desarrolladores, mientras los proyectos son pospuestos y/o reposicionados.

5) El mercado de arriendos se mantiene estable: 969 nuevos apartamentos Clase A han sido entregados desde el 2012, llevando el número total de residencias multifamiliares en construcción solo a menos de 3.600.

6) La demanda por el estilo de vida urbano sube las tasas convencionales de renta: Los edificios de apartamentos Clase A están logrando arriendos entre un 25% y un 35% más altos que los productos de mayor antigüedad.

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Sculpture by Daniel Knorr Unveiled at Jade Signature

An impressive group of art world influentials and friends joined Edgardo Defortuna, Fortune International Group President & CEO, and artist Daniel Knorr for the unveiling of Bonhomme Universe, Knorr’s new public sculpture. Defortuna commissioned the piece for Jade Signature in Sunny Isles Beach, a new, soon-to-open luxury condominium. Bonhomme Universe sits between the ocean and the residential tower, a luxury 57-story building offering a resort-like lifestyle. Gathering under a canopy for the oceanside luncheon, guests included co-host Sarah Harreslon, founder of CULTURED magazine; Jason Frantzen, partner of Herzog and de Meuron; Raymond Jungles, founder of Raymond Jungles Inc.; Vice Mayor Dana Goldman of the City of Sunny Isles Beach; and former U.S. Treasurer Rosie Rios.

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Q&A: Architect Hani Rashid Shares His Inspiration for Missoni’s First Branded Residences

For more than 60 years, Italian fashion house Missoni has created colorful patterns and artsy designs that make a statement both on and off the runway. So when architect Hani Rashid (who cofounded Asymptote Architecture with Lise Ann Couture) worked on the design for the brand’s first-ever residences, he took cues from the minimalist and kinetic works of American sculptors such as Sol Lewitt and Donald Judd to bridge the gap between fashion and art.

“These artists celebrated purity, musicality, and the eloquence of perfect form, and from that DNA this tower was conceived, as a nod to an elegant and new Miami,” Rashid says. “The whole building has an artistry to it. When you enter the building, you feel like you’re stepping inside a sculpture.”

Missoni Baia, the 249-unit project being developed by OKO Group, broke ground last month along Biscayne Bay. Current prices range from $500,000 for a one-bedroom unit to $3.5 million for a six-bedroom penthouse. The building is on track to be completed in 2020.

Robb Report spoke with Rashid to discuss why he decided to become an architect and how his firm created an artsy building befitting the iconic brand.

What inspired you to become an architect?

I became an architect as a result of an early interest in film, photography, and art. Having grown up with a father who was an accomplished abstract painter and sculptor, it was second nature for me to detour from being an artist to becoming an architect. It occurred to me that all these pursuits were effectively spatial. For me, architecture held the most potential as a means to build spatiality and ideas into form and substance. Our practice today is heavily involved with contemporary art, both as a core interest and in projects such as the Hermitage Modern Museum we are building in Moscow. Also, our work speaks to an architectural practice that sees art, form, innovation, and beauty as a constant preoccupation.

What was your vision for Missoni Baia?

We drew upon the important minimalist paintings and sculptural practices of primarily the American schools of thinking in the mid- to late 20th century, such as the works of Sol LeWitt, Donald Judd, and Josef Albers, as well as the refined mathematical experiments of the Venezuelan sculptor Jesús Soto and others. The architecture is clean and refined, containing what I see as stacked glass villas organized vertically into the sky—delineated by a powerful minimal sculpted frame that binds them together architecturally.

You’ve previously talked about how stepping into the building feels like stepping into a sculpture. How do you see the building as an extension of art?

Minimal sculpture, painting, music, and even film all adhere to one important criteria: that the work through its seemingly quiet gestures and nuances resonates with light and space and is mathematically pure above all else. The same can be said of our architecture. This building is not minimalist in the sense that it uses few gestures to evoke a whole, but rather it celebrates the physical surroundings, the Miami skyline, Biscayne Bay, and its reflections off the water—and, in so doing, resonates its presence as optic and spatial phenomena, reconciling the city’s fascinating cultural “noise.” In this way, the building’s design is as much an artistic gesture as it is a work drawn from art genres and motives that speak to Miami as a 21st-century city in a state of constant growth and evolution.

What materials will be used for the project?

The most innovative material is a glass-reinforced-fiberglass concrete to enclose the mega fins. There are other interesting materials used throughout the building’s interiors as chosen by Paris Forino in consultation and collaboration with the Missoni family. On the architectural side, we have sought out clean, optically compelling materials to enhance a sense of elegance and luxury. The Missoni Baia tower design celebrates musical, minimal forms as a way of stabilizing and harmonizing the new evolving skyline of Edgewater in the ever-changing city of Miami.

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The Good Soul Of The Snowman By Daniel Knorr.

At this year’s edition of Art Basel Miami 2017, Trump’s face cannot be missed. Whether in the work of Peter Saul or Manuel Ocampo, grotesque caricatures of the U.S. President are everywhere. They use his face as a way to protest Trump administration’s policy on immigration, gun control and inequality. But this was expected which was why happening upon Daniel Knorr’s new sulpture to christen Jade Signature, the new luxury condominium tower in Sunny Isles Beach, was a literal breath of fresh air.

In it’s own way the sculpture too shined a light on Trump’s divisive policies but in a way that sparks hope. You see, Daniel Knorr built a snowman.

As Daniel explained to us “the figure of the snowman – the good man – the good soul represents the human being. It is decorated with stones from all over the world representative of the people from so many nations that make up the city of Miami. This new construction alone people are coming from 25 nations. I used the heritage, or the prominence of the people, with the prominence of the stones and put them together to fill the snowman in with content. I decorated the good soul with the stones of the people that come from all over.”

Daniel Knorr gets it. He understands what makes the United States of America so special.

Before Daniel spoke he was introduced as a man who helped make the impossible possible. “We have over 25 different nationalities in the building, and (thanks to Daniel) every one of those residents have a piece of stone that comes from their nationality.”

Daniel was moved by the introduction. “I have become a part of the dream. The snowman will be a part of the building as a joyful addition.”

Before the ceremony three girls were standing in front of the snowman taking pictures. And I realized he’d created something very special there in Miami Beach.

There for all to enjoy.

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Jade Signature Continues To Power Towards Completion, Reveals Permanent Snowman Installation “Bonhomme Universe”

Just days after the installation of a massive 65,000-pound, 38-year-old kapok tree at the base of Jade Signature in Sunny Isles Beach, the tower and Fortune International Group celebrated the unveiling of “Bonhomme Universe,” their new gemstone snowman, a whimsical piece is by Romania-born artist Daniel Knorr which was commissioned by Fortune International Group President and CEO Edgardo Defortuna. The sculpture will be accessible to the public, a potential future social media icon for Sunny Isles Beach. The unveiling was celebrated with a fashionable beachfront luncheon, guests included Edgardo Defortuna, and his wife, Ana Cristina; the artist himself Daniel Knorr, co-host Sarah Harreslon, founder of CULTURED magazine; Jason Frantzen, partner of Herzog and de Meuron; Raymond Jungles, founder of Raymond Jungles Inc.; Vice Mayor Dana Goldman of the City of Sunny Isles Beach; and former U.S. Treasurer Rosie Rios. Defortuna spoke about his passion for art and the ability of sculpture to enliven and embellish outdoor spaces (December 8, 2017).

“We are thrilled to be able to share this unique sculpture with the world – one that celebrates Miami’s diversity, its beauty, soul, and welcoming atmosphere,” said Defortuna.

Daniel Knorr added, “This fantastic building that challenges architectural standards, like three stories of parking under the beach, inspired me to the idea of the snowman and his impossibility to melt under the strong Miami sun. Like the house that hosts inhabitants of 25 countries, the snowman is decorated with gemstones coming from various places in the world. It shows the good soul of mankind and its close connection to nature.”

Knorr first began creating these sculptures when he became fascinated by the conceptual possibility of a snowman existing without snow. In Bonhomme Universe, he re-locates this cold-climate object to a sub-tropical environment, releasing it from the material it was once reliant on. Bonhomme Universe stands 10.5′ tall and 5.57′ wide at the base. The “snowman” crafted around a metal grid of stainless steel, topped with concrete which is adorned with 28 different types of precious and semi-precious stones that have been polished and treated for durability, including green quartz, red jasper and moonstone. The vibrant gemstones chosen are inspired by the colors of the Miami landscape yet sourced from around the world. These natural materials reflect the diverse mesh of buyers at Jade Signature, a testament to Miami’s unique cultural identity. Instead of the typical broom for an arm, this snowman has a palm tree, fashioned from stainless steel. This extended arm serves as a friendly wave to passersby, but also has the deeper visual reference, with the palm tree an ancient symbol of peace, victory, and eternal life that originated in Near East and Mediterranean culture.

Jade Signature is located at 16901 Collins Ave. and was designed by Herzog & de Meuron, interiors by Parisian interior design firm PYR, led by Pierre-Yves Rochon, and landscape architecture by Raymond Jungles. The tower feature 192 flow-through units with pricing ranging from $3.9 million and 1,581 SF for a 1 bedroom + den with 2 baths to $33 million for a 5 bedroom, 6,407 SF penthouse. Jade Signature will also features lush, landscaped grounds with beach access, a beach grill, resort style amenities including a lagoon style pool, fitness center and spa, wine cellar, library, teens lounge, 24 hour concierge and valet along with more five-star amenities that buyers demand in such a high-end, luxury building. Jade Signature features views of the Atlantic Ocean as well as the Intracoastal Waterway.

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Design Miami 2017: Art Meets Architecture at the Jade Signature, the Bass Museum, and ‘Form and Space’

Herzog & de Meuron established themselves in Miami Beach with 1111 Lincoln Road a fabulous parking garage that just sold for $283 million (the owner’s top-floor condo is being marketed separately). They went on to design the beloved Pérez Art Museum Miami, also in exposed concrete.

Their latest building, called Jade Signature, is a handsome, 650-foot condo tower with more than 1.2 million gross square feet. Partner Jason Frantzen described orienting the 192-unit building at an angle, to maximize sunlight reaching the beach in the afternoons, and eliminating the garage-in-a-plinth that makes so many large condo buildings unapproachable from the street. (Parking is underground.) “We always look for ways to connect people to nature,” said Frantzen.

There are many Herzog & de Meuron flourishes in the concrete structure, including hourglass-shaped columns and concave projecting walls, though it’s all painted white, for both aesthetic and commercial reasons. The building (with interiors by the Paris designer Pierre-Yves Rochon) is lovely, but it’s still a very big condo building on the beach.

One of best exhibitions I saw was located, somewhat incongruously, in another big condo building on the beach. Called “Space and Form,” it concerns the relationship between art and architecture in a very specific case: the more than 50-year friendship between Richard Meier and the artist Frank Stella, who once shared a studio in lower Manhattan (Meier used the space at night while Stella was out drinking). Former MoMA curator Terence Riley organized the show, which includes work by both men in a variety of media; although Meier (usually) avoids color and Stella (usually) embraces it, the formal overlaps and intersections are striking. Among the gems in the show (which is housed on the ground floor of a new tower by Meier at 9001 Collins Ave. and runs through March 4) are Stella’s designs for the Stations of the Cross at Meier’s Jubilee Church in Rome. They were never realized.

But lots of good work isn’t unrealized. If Greg Goldin and Sam Lubell, authors of Never Built Los Angeles and Never Built New York, pursue a Miami sequel, they’ll have plenty of material. Entries would include the plan for a new Miami Beach convention center by Rem Koolhaas and OMA, selected in 2014, then scrapped for a less ambitious plan by Arquitectonica (now under construction). Also: Arata Isozaki’s original, competition-winning scheme for enlarging the 1930s Bass Museum, on Collins Avenue. Only parts of Isozaki’s plan were carried out, making the 2001 version of the museum somewhat dysfunctional. So the Bass returned to Isozaki and his protégé, New York architect David Gauld, to plan a second renovation. The results, which included enclosing an underutilized courtyard and eliminating an oversized ramp, have made the museum more useful, and more beautiful, in time for this week’s opening.

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Get your smartphone ready: The weekend is crammed with Instagrammable art

The visual feast that is Art Week is full of must-see exhibits and Instagrammable moments. We’ve chosen a handful of our ephemeral favorites. See them while you can — most will be gone after Sunday.

A Dangerous Game: The 1960s Cold War threat that sent a generation ducking beneath their school desks (who really thought that was going to save you from a nuclear attack?) has re-emerged as the Twitter contest between President Donald Trump and North Korean leader Kim Jong Un has heated up. That threat is the subject of a 27-foot sculpture “A Dangerous Game” at Northwest 22nd Street and Northwest Fifth Avenue, across the street from Mana Wynwood, in which a fiberglass hand clutches a 19-foot resin-and-steel missile. The artist is Italian Lorenzo Quinn, whose previous work on the threat of climate change was shown at the Venice Biennale. He’s the son of the late actor Anthony Quinn. FREE.

Apex Predator: Outrage over the 2008 financial debacle and the uberwealthy, uberpowerful bankers who caused it but escaped unscathed led London-based artists Dominick Young and Mariana Fantich to create the sleek shoes, perfumes and other stylish consumables of the Darwinian Vodoo brand. Look closer, and grotesqueries become clear: That pair of red child’s Mary Jane shoes are lined with teeth; the exquisite clothing worn by the predator couple and their offspring are made of human hair. The initial jab at the financial lords has been expanded to include the military establishment; some items also include military ribbons associated with wars in Iraq and Afghanistan. The point of this sly, sophisticated and cynical display is the cost of exteme competitiveness, when the ultimate — or apex — predators go for the jugular in a winner-takes-all contest where the trophies are human lives. The exhibit presented by Barrett Barrera Projects at 219 NW 23rd St. in Wynwood is free; all items are for sale, from $1,200 to $45,000. BEWARE: Northwest Second Avenue in Wynwood is closed to cars this weekend. Open noon-7 p.m. through Saturday, noon-4 p.m. Sunday. FREE.

NADA (New Art Dealers Alliance Fair): Though some of the art at this popular fair of fresh artworks has become pricey, one of the best aspects is free: swinging in the hammocks in the yard at the Ice Palace, corner of North Miami Avenue and North 14th Street. Fair tickets cost $20, $10 for seniors and students. newartdealers.org.

Flagler Street, downtown Miami: Two Flagler Street spaces near Northeast Second Street — owned by Mana — have been transformed into art week exhibits. The 777 International Mall building, on the north side of Flagler opposite the Olympia Theater, features exhibits by Puerto Rican artists displaced by Hurricane Maria who are being hosted in residencies by Mana; both their stories and their artworks are compelling. (Don’t miss the “shop” that looks like it sells baby carriages; it’s really an interactive installation by Andria Morales.) Upstairs, the much-expanded Prizm Fair features videos, paintings and sculptures, some with the artists on hand. Across the street, on the southeast corner of Flagler and Northeast Second Avenue, Nike and Juxtapoz Magazine have created their own mini-fair featuring ultracontemporary works including a newsstand (complete with free papers) by Shepard Fairey, murals, T-shirts and giant sculptures (some best seen from upstairs). Prizm has a small entry fee; most other exhibits FREE.

Go virtual: It sounds hokey: Vegas leaves Vegas for Miami. Turns out the virtual reality exhibit is a knockout. Inside the Zadok Gallery, 2534 N. Miami Ave., visitors move through five different rooms, each equipped with VR headsets that showcase the artistic vision of a Vegas visit from five different international artists. One is the ultimate drive on the Strip, another is like being flung into Oz, and yet another is like falling into a kaleidoscope. The whole thing is a ploy to get us to go to the real Vegas, hosted by the city’s marketing arm. It runs 1 p.m.-9 p.m., only through Saturday. FREE.

Art Miami / CONTEXT: Art Miami is more accessible than ever, thanks to its new waterfront location at the former Miami Herald site, Northeast 14th Street and Biscayne Bay. There’s plenty inside the fair worth your time (car lovers will be in for a treat; art lovers will find works by Marc Chagall, Edward Hopper and Keith Haring, among others.) But the most picturesque moment may be outside the fair on the waterfront terrace, where you can see all the way to, well, Miami Beach. Word to the wise: Take public transportation. If you insist on driving, avoid the fair entrance and go straight to the nearby Omni parking lot at Biscayne Boulevard and 15th Street.

Abstract / Not Abstract: For the third year, mega art dealer Larry Gagosian and powerhouse Jeffrey Deitch have teamed up to offer a free show of first-rate works in the Design District. This year the focus is on new abstract paintings, including works by Tauba Auerbach, Urs Fischer, Elizabeth Neel, Sterling Ruby and Richard Prince. The exhibit is a great way to get a handle on the genre. It’s also located inside the Moore Building (191 NE 40th St., Miami Design District), whose airy space dominated by a Zaha Hadid sculpture is always a treat. Open 10-8 p.m., 10-6 p.m. Sunday. FREE.

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Brickell Flatiron lanza colección exclusiva de penthouses

El estilo de vida de lujo en Miami está a punto de alcanzar nuevas cimas. En lo más alto del condominio Brickell Flatiron, la nueva torre de lujo en construcción de 64 pisos de CMC Group, el veterano desarrollador Ugo Colombo ha lanzado a la venta una colección limitada de penthouses. Ubicada del piso 50 al 64, esta colección incluye residencias de un solo piso, así como dúplex y tríplex en los penthouses más altos. Con planos que alcanzan casi más de 600 m², las residencias incluirán alturas de piso a techo de poco más de 3 metros; acabados y accesorios premium; además de vistas panorámicas del skyline de Miami y la bahía de Biscayne. Dos penthouses tríplex presentarán terrazas privadas con piscinas, cocinas de verano y vestidores, así como ascensores privados en cada residencia con acceso a los tres niveles.

“La colección de penthouses de Brickell Flatiron personificará la elegancia y sofisticación del diseño italiano”, comentó el desarrollador Ugo Colombo, fundador de CMC Group. “No estamos dejando a un lado un solo detalle ni gasto para entregar un producto memorable, que ofrezca a sus residentes el más alto grado de calidad y un diseño que superará la prueba del tiempo”.

Además de ofrecer acabados y comodidades con una calidad sin par, las residencias de la colección de penthouses están diseñadas para una máxima funcionalidad. Incluyen cocinas mejoradas con gabinetes motorizados Snaidero, enfriadores de vino Miele y electrodomésticos de sistema integrado. Asimismo, los electrodomésticos Bosch del cuarto de lavado tienen incorporados tecnología antivibración y de supresión de ruido. Resistentes a impactos, los ventanales y puertas de vidrio están diseñadas para soportar vientos con fuerza de huracán. Cada penthouse está completamente equipado con lo último en sistemas de tecnología, incluyendo una red privada inalámbrica y sistema de seguridad “smart-lock”.

Por su parte, el aclamado arquitecto, Luis Revuelta, ha creado un ambiente arquitectónico que combina la distintiva forma de plancha de la torre con fluidas formas curvilíneas. Por dentro, el diseñador y arquitecto italiano Massimo Iosa Ghini se inspira en la fachada curva de Brickell Flatiron para subrayar los pulcros espacios, creando una casi imperceptible transición entre el exterior y el interior.

Coronando los pisos de penthouses, el piso 64 es un paraíso de comodidades que abarcará un Sky Spa, Sky Pool y Sky Gym, con vistas panorámicas de 360º de la bahía y el brillante paisaje del downtown de Miami. Los residentes tendrán acceso a servicios como baño de vapor y sauna, así como un centro de entrenamiento físico de casi 600 m² que incluye pilates, yoga y estudio de aeróbicos. Además, la torre presenta una piscina tipo resort y una para niños en el piso 18, sala de cine privada con asientos tipo estadio, billar y sala de fumadores, cava de vinos, conserjería 24 horas, valet parking, lavado de vehículos y estaciones eléctricas para cargar carros.

La ubicación privilegiada de Brickell Flatiron en el 1001 South Miami Avenue, a sólo una cuadra de la vibrante Brickell Avenue, provee a los residentes una ubicación central en uno de los distritos urbanos más dinámicos. Docenas de hoteles de lujo, restaurantes, cafés, bares y tiendas de lujo, se encuentran a pasos de distancia, incluyendo The Shops at Mary Brickell Village y Brickell City Centre. También, a poca distancia caminando, se encuentran múltiples opciones de transporte público como el Metromover y el Downtown Trolley, que conectan Brickell Flatiron con las principales atracciones de Miami, como el American Airlines Arena, el Adrienne Arsht Center for the Performing Arts, el Perez Art Museum Miami y el Patricia and Phillip Frost Museum of Science.

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Jade Signature Installs Towering, 65,000 LBS Kapok Tree Kicking Off The Tower’s Countdown To Completion

Winter is upon us, but Fortune International Group’s Jade Signature tower in Sunny Isles Beach is just beginning to “blossom.” At the beginning of December 2017, a giant kapok tree was installed at the entrance of the condominium tower under the watchful eye of landscape architect Raymond Jungles, signaling the building’s countdown to completion, a return to Sunny Isles’ roots, and the culmination of a developer’s obsession for perfection. On an even grander scale, the planting is part of an effort by the developers to reintroduce native and naturalized species to the surrounding environment. From 11:59 p.m. Saturday evening (December 2, 2017) into the early hours of Sunday morning, the massive, 65,000-pound, 38-year-old kapok tree was planted at the base of the tower. The tree is symbolic of the singular vision behind Jade Signature, an innovative collaboration between Raymond Jungles and a trio of industry titans: luxury real estate leader Fortune International Group, Pritzker Prize-winning architecture firm Herzog & de Meuron, world-renowned, award-winning Parisian interior design firm PYR, led by Pierre-Yves Rochon.

“We turned to Raymond Jungles and his team to create a landscape that would work well with the surrounding waterfront setting,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Naturally, Jungles is a mastermind in conceptualizing designs that are sustainable and unique. The kapok tree, which thrives in the tropics, will be the finishing touch of this beachside oasis and a local landmark in and of itself.”

The kapok tree (Ceiba pentandra) is a species that was sacred in ancient Mayan culture, revered as a source of strength and resiliency. Known for living for hundreds of years and capable of reaching extreme elevations (some have been recorded at heights of 250 feet), the tree’s unmistakable silhouette is defined by an umbrella-shaped crown made of numerous branches and arranged in horizontal tiers. As conveyed by Raymond Jungles, the implementation of grown trees, such as the kapok in this case, has immediate benefits, including erosion control, drainage improvements and an enhancement of native ecosystems. Because of the way the architects have positioned and oriented Jade Signature, the building will be bathed in an abundance of sunlight – a welcomed change from surrounding buildings that have large zones of shade. In addition, the developers hired French engineering firm Bouygues Construction (the same team behind the excavation of the Port of Miami tunnel) to dig 50′ underground for the implementation of a concealed, 400-space parking garage, a first in Sunny Isles. This innovative design has thereby allowed the team to plant more vegetation at the surface of Jade Signature and offer a seamless connection from Collins Avenue to the beach.

“In the case of Jade Signature, it was pretty easy to conceptualize and implement a landscape design because of so many of the wonderful spaces the architects created,” added landscape architect Raymond Jungles. “The tower is going to offer, what I believe, will be one of the best amenity packages I’ve ever seen…and certainly one of the most dramatic and well-designed. I think Jade Signature is really going to be a trendsetter.”

Jade Signature is located at 16901 Collins Ave. and was designed by Herzog & de Meuron. The tower feature 192 flow-through units with pricing ranging from $3.9 million and 1,581 SF for a 1 bedroom + den with 2 baths to $33 million for a 5 bedroom, 6,407 SF penthouse. Jade Signature will also features lush, landscaped grounds with beach access, a beach grill, resort style amenities including a lagoon style pool, fitness center and spa, wine cellar, library, teens lounge, 24 hour concierge and valet along with more five-star amenities that buyers demand in such a high-end, luxury building. Jade Signature features views of the Atlantic Ocean as well as the Intracoastal Waterway.

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How Art Won’t Be the Only Luxury Changing Hands at This Year’s Art Basel

It’s become a place where art, fashion and real estate can be mutual benefactors when selling high-end products.

Acclaimed artists and art dealers are gearing up for the world’s wealthy to step off their private jets and yachts this week and decamp to the Sunshine City for Art Basel Miami — but they won’t be the only people looking to capitalize on the five-day art fest.

That’s because since the sister festival of Switzerland’s eponymous event began in Miami in 2002, other industries have been quick to piggyback onto the annual gathering of the wealthy. After all, it is the one time of the year when serious art collectors, investors and high-net-worth individuals all converge at once in Miami, with more than 70,000 people expected to attend this year.

While famous designers will no doubt be spotted hobnobbing with the rest of the New York fashion set and enjoying the endlessly flowing Champagne at the plethora of parties, Miami’s nightlife won’t be the only thing on their minds. They’ll also be networking with some of their biggest clients, who collect fashion as well as art.

“I have an art collector who is the largest purchaser of Brunello Cucinelli in the United States. Cucinelli invites him to his place in Umbria,” Emily Santangelo, a New York-based art consultant, told WWD. “I can tell you that the world’s biggest fashion designers are quietly descending on places like Miami and meeting up with their collectors in both the art world sense and the fashion sense.”

And that’s not all. Many of the big fashion houses have jumped on the art installation bandwagon. Gucci, for example, has teamed with Artsy on a multiartist installation called Artsy Projects Miami, while the Loewe Foundation’s third “Chance Encounters” installation will be featured at its store in Miami’s Design District — and naturally many of these events will be kicked off with packed parties.

According to Robert Burke, the chairman and chief executive officer of retail consultancy Robert Burke Associates, as well as being a clever marketing tool, these installations give brands a chance to feel out the market and the appetite of connecting with an artist without launching into a major collaboration globally.

“I think brands are always looking at how to collaborate with art and artists. We’ve seen many good collaborations lately, such as Gucci, and the art world is a natural connection to the fashion world, so it makes sense,” he said. “There is money to be made, but primarily this is about elevating the brand and distinguishing it from another.”

It’s not just the fashion world at play. Real estate agents and developers also use the decadent art fair as an occasion to showcase their opulent homes for sale in Miami and other cities, with many sponsoring events or partnering with organizations at their dinners or gatherings in order to connect their condominiums and mansions to the art world and catch the eyes of the rich and famous. Often events are held at the listings themselves.

“The person that has spent $100 million on a Da Vinci is certainly a prospect for high-end luxury real estate,” added Santangelo, when explaining the real estate industry’s interest in Art Basel Miami.

“You have to realize that there’s something very important that real estate offers art collectors and that’s walls. It’s what really goes with building the collection, especially for those people who are truly passionate and want to live with the artwork.”

All the stops are pulled out, with some brokers and developers chartering helicopters to show off the city’s new towers emerging out of the ground, while others host dinners on yachts docked outside the mansions they’re trying to flog. Then there’s the celebrity factor, with others hiring famous faces to attend their events at their listings to ensure they draw in a well-heeled crowd.

“Brokers sometimes hire a celebrity DJ or musician to perform at a private setting for a really exclusive small group of people,” according to Kipton Cronkite, an art curator and adviser. “You usually hear about those surprise performances after the fact.”

This year seems to be no exception on the party front. The 1 Hotel and Homes South Beach is hosting the New York Post Page Six Art Basel party on Thursday, which is expected to draw a crowd of celebrities and influencers.

The party will serve as an exclusive preview of the 1 Homes penthouse, which will soon hit the market for an undisclosed multimillion-dollar price, while Douglas Elliman Real Estate will be showing off its luxury projects such as Madison Square Park Tower in Manhattan, Monad Terrace in Miami Beach and London’s Chelsea Barracks when it takes over the Delano South Beach Hotel for its Elliman Magazine party on Friday.

Then there are the occasions when real estate and fashion work together on some of the wave of super-luxury residential buildings that are springing up across the city, the interiors of which will be decked out by major fashion designers.

Setting the trend is the Estates at Acqualina, a pair of 50-story luxury towers with 245 units that are currently being built in Sunny Isles Beach and whose lobbies are being designed by Karl Lagerfeld. It has invited a core group of Brazilian influencers such as Alice Ferraz and Lala Noleto to stay at their neighboring hotel during Art Basel and visit the model apartment in the sales gallery.

“Our developers are art collectors and so are our buyers. Art Basel provides a perfect opportunity to entertain guests at the Estates Sales Gallery and in Penthouse 45 at the Mansions at Acqualina which is a mini gallery in and of itself,” said Alexandra Wensley, vice president of communications at the Estates at Acqualina, whose prices range from between $4 million and $9 million.

“Brazil is an important market for us. Hence, we will be entertaining several Brazilian fashion and lifestyle influencers during Art Basel. It provides an ideal fit especially with our partnership with international designer Karl Lagerfeld.”

Missoni Baia, meanwhile, a 57-story, 249-unit building that is being developed by the namesake Italian fashion family and Oko Group in the up-and-coming Edgewater neighborhood, is offering its VIP guests and brokers exclusive tours of Design Miami (a design fair that always runs parallel to Art Basel Miami) with its interior designer Paris Forino.

This, however, is nowhere near as large-scale as their event to coincide with last year’s Art Basel when Vladislav Doronin, chief executive officer of OKO Group, held a party for 200 guests at his mansion on the exclusive Star Island, where speeches were given my Doronin and Ottavio Missoni Jr. from the Missoni family, while guests were serenaded by pianist Elew.

“Art Basel is one of the few times in the Miami calendar where all of these individuals come together in one place,” said Edgardo Defortuna, president and ceo of Fortune International Group, which is handling the building’s sales (prices range from $500,000 to $3.5 million). “By offering experiences such as the Design Miami tour with Paris, these individuals can experience the building in a new and interesting way that wouldn’t be available to them at other times of year.”

The impending arrival of the world’s wealthy will no doubt come as a relief to much of Miami’s luxury real estate community as the sales market has slowed against a backdrop of political and economic uncertainty, as well as currency fluctuations. Combined, these trends have made competition tougher and Miami developers more determined than ever to make their projects stand out.

“While Art Basel Miami has always been important, it’s constantly growing in popularity so in the last couple of years as the market has softened its relevance and importance is higher than ever before,” Jonathan Miller, ceo of appraisal firm Miller Samuel, told WWD. “It’s a draw for the affluent and the affluent are the consumers that buy luxury properties.”

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Marcas de luxo investem no mercado imobiliário de Miami, Missoni Baia

December 2, 2017
RIO – Não basta ter uma bolsa, um vestido ou um carro de luxo. A nova onda, pelo menos em Miami, é viver numa casa grifada. Armani, Fendi, Missoni, Aston Martin e Porsche são algumas das marcas que já construíram ou que ainda vão erguer empreendimentos imobiliários na cidade. Em abril, foram entregues as chaves da Porsche Design Tower, uma torre de 60 andares. O destaque do prédio são os três elevadores de US$ 40 milhões que levam os carros aos apartamentos e os deixam nas salas de estar dos moradores, se assim eles quiserem. Os imóveis, que variam de 443 m² a 880 m², além de coberturas com 1.350 m², custam entre US$ 5,5 milhões e US$ 33 milhões. A cantora Alicia Keys fez um show exclusivo para os moradores na inauguração do empreendimento.

Duas piscinas rodeadas por jardins tropicais com camas para relaxamento e aromaterapia, spa com piscina térmica coberta e lounge com cozinha gourmet são apenas algumas das amenidades oferecidas pelo Fendi Château Residences. Há ainda restaurante exclusivo para os moradores e seus convidados, um business center, uma equipadíssima academia de ginástica e até uma sala de cinema. O estilo da grife está impresso nos apartamentos, que contam com mármore italiano nos banheiros, armários Fendi Casa e equipamentos alemães Gaggenau na cozinha.

A área de Sunny Isles, que fica ao norte de Miami Beach, é uma das preferidas da turma que pode pagar pelo que há de mais exclusivo, moradores que querem chegar ao último degrau do luxo e design. É por lá que está sendo construído um edifício de 60 andares, cujo design arrojado é assinado pelo estilista italiano Giorgio Armani. Serão 308 unidades, com preços que começam em US$ 3,5 milhões. Os móveis da cozinha e do banheiro entram no pacote e serão projetados pela Armani Casa. Mas o apartamento pode ser todo decorado pela grife, com um custo adicional não divulgado. A previsão de entrega é 2019.

Famosa pelos carros esportivos de alto desempenho, a Aston Martin começou a construir em março um prédio de 66 andares que se destacará na paisagem de Miami pela sua forma de veleiro. O edifício da marca favorita do agente 007 deve estar pronto em 2022 e contará com uma marina, onde os moradores poderão atracar seus iates. Cerca de 20% das unidades já foram vendidas. Desse total, 40% para brasileiros, segundo Matias Alem, fundador da BRG International, responsável pela comercialização do empreendimento. É bom correr se a sua intenção for comprar a cobertura. O imóvel, que é um tríplex e tem 1.770 m² de área, ainda está à venda por US$ 50 milhões. De brinde, o proprietário ganhará da Aston Martin um Vulcan para estacionar na garagem. Só o carro custa US$ 2,3 milhões.

Matias diz que, em 2016, canadenses, venezuelanos e brasileiros, nesta ordem, dominaram as compras de apartamentos de luxo em Miami. Quem disse que estávamos fora do páreo?

As duas torres de 50 andares do condomínio The Estates at Acqualina, em Sunny Isles, não terão a assinatura de uma grife, mas seus lobbies e áreas comuns foram projetados por ninguém menos que o estilista Karl Lagerfeld. Para o designer, o lobby é essencial, porque é o local onde as pessoas socializam umas com as outras: “É como uma sala de estar compartilhada. É a primeira impressão que temos quando visitamos as pessoas”. Lagerfeld criou uma área com cascata de cristais em ambiente em tons de azul-celeste, prata, cinza e pitadas de rosa. Quase um vestido.

Alexandra Wensley, vice-presidente de comunicação do empreendimento, diz que o negócio foi idealizado pelo The Trump Group e avaliado em US$ 1,5 bilhão. O The Estates terá uma área comum, a Circus Maximus, repleta de atrações, como uma pista de patinação no gelo, simuladores de Fórmula 1 e golfe, pistas de boliche e um cinema. A lista de conveniências inclui ainda restaurante, spa e academia, além do clube noturno Speakeasy.

— A expectativa de conclusão é 2020. Serão 245 unidades, com de três a sete quartos. Os preços variam de US$ 4,2 milhões a US$ 9 milhões. As coberturas custarão US$ 40 milhões. Closets elaborados pelo próprio Lagerfeld serão um luxo a mais — diz Alexandra.

Também está em construção o Missoni Baia, na Baía Biscayne, em East Edgewater. Rosita Missoni, matriarca da grife italiana, acompanhou de perto o projeto. Tudo para que cada detalhe do design da obra tenha o zigue-zague característico da marca e se destaque no projeto da torre de 60 andares.

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Glasshaus Coconut Grove is expecting to begin construction in January

Glasshaus, a luxury boutique condo project that launched last May in Coconut Grove, is expecting to begin construction in the first quarter of next year while targeting a completion date at the end of 2018, a spokesperson for Fortune International Group tells Curbed.

The five-story development is 30 percent sold, meaning seven of its 23 residences are currently under contract. The site is located at 3161 Center Street, which is a couple of blocks away from CocoWalk.

Residences range from one to three bedrooms (and from 1,080 to 2,380 square feet), featuring 11-foot ceiling; kitchens equipped with Italkraft cabinetry and stone countertops; and a choice of porcelain, wood or tile flooring. Amenities include a glass-walled fitness center, a private garden, and a rooftop pool deck with 360-degree views and a summer kitchen.

Pricing starts in the high $500,000s.

Varabyeu Partners designed the project and the development team is comprised of GD.8 and Element Development LLC

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El branding de edificios suma adeptos

Porsche, Aston Martin, Armani y Fendi son algunas de las marcas elegidas por los desarrolladores; los especialistas aseguran que las asociaciones con “el lujo” revaloriza a los proyectos

MIAMI.- Hasta hace poco tiempo atrás, las marcas de lujo se asociaban a infinidad de productos: ropa, automóviles, relojes, carteras, hoteles. Pero nunca, hasta ahora, a edificios de viviendas.

En Sunny Isles, la ciudad moderna que reúne los rascacielos más lujosos sobre la playa, la torre Porsche se alza imponente. Negra, vidriada, circular, con un ascensor único en su tipo capaz de subir al propietario en su auto hasta el piso 60. Muy cerca está el edificio Fendi, también para residentes con millones en sus cuentas bancarias. Y así siguen entre grúas o planos, marcas de lujo que se proyectan tentando con estilos de vida: Residences by Armani Casa, The Ritz Carlton Residences, Missoni, y Aston Martin.

Gil Dezer, presidente de Dezer Development, tal vez el developer más joven en el rubro de propiedades de alta gama en los Estados Unidos, es uno de los artífices de esta tendencia. Después de hacer realidad la torre Porsche Design, que define como “el éxito más grande de Miami”, con el penthouse vendido al precio más caro de la playa por US$ 25 millones, asegura que vinieron muchas otras compañías a buscarlo. “Tengo a todas las marcas corriendo por mí”, dice en un español con acento.

La historia podría remontarse a 2001, cuando Dezer se asoció con el entonces empresario Donald Trump, hoy presidente, para hacer edificios con la marca Trump. “Tuvimos muchísimo éxito poniendo un nombre a un proyecto porque todo el mundo se enteró inmediatamente. Ese nivel de marketing y publicidad no se puede comprar. Ahí nos dimos cuenta que apuntar a una marca ayuda a hacer ruido muy rápido, y arroja una buena ecuación costo beneficio”, explica a la nacion. Después de hacer seis edificios con Trump, empezó a buscar otras marcas, y escuchó que Porsche estaba buscando una posibilidad similar. Para un fanático de los autos como Dezer, el proyecto tuvo luz verde. Y fue el puntapié para que marcas y developers formaran parejas en el mundo del real estate.

“Porsche Design recibió mucha publicidad, que no podría haberla comprado si hubiera querido”, define Dezer. En efecto salió a la plaza como el edificio más caro de los Estados Unidos, con la unidad más barata arrancando en US$ 5 millones. Incluso en New York, en Central Park, los edificios tienen sus departamentos chicos empezando en US$ 3 millones. Con valores lejos de ser una ganga, sacó 132 unidades al mercado, de los cuales quedan sólo seis por vender.

La tendencia no tardó en expandirse. Fortune, por ejemplo, está llevando adelante The Ritz-Carlton Residences en Sunny Isles, y también se asoció con la marca de moda italiana Missoni para construir un edificio en Edgewater, al Norte del downtown de Miami.

“Con un mercado tornándose muy competitivo, los desarrolladores inmobiliarios, sobre todo los de productos de lujo, comenzaron a tratar de diferenciar sus propuestas”, relata Edgardo Defortuna, fundador de Fortune International Group.

Dezer Development y The Related Group, otro artífice de los rascacielos de la ciudad, se asociaron con Giorgio Armani para lanzar su primera torre residencial, Residences by Armani/Casa.

La famosa marca de autos Aston Martin también anunció su desembarco en el rubro inmobiliario. Asociado con G&G Business Developments, firma basada en Miami propiedad del empresario argentino Germán Coto y su madre Gloria, crearán residencias lujosas en el downtown sobre un terreno que fue noticia en 2014, al venderse en precio récord.

Fendi construyó en Miami el primer condominio de su historia, de 58 unidades, y casualmente de la mano de otro argentino. Fendi Château Residences, ubicado sobre la playa en Bal Harbour, es producto de Manuel Grosskopf, CEO de Château Group, desarrollador de shoppings como Alto Palermo y los condominios de lujo Château Libertador y Château Puerto Madero.

“No es solo un acuerdo, tiene que haber sustancia. Nos llevó mucho tiempo convencer a Georgio Armani para poder ponerle su nombre a nuestro edificio. El diseñador está en todos los detalles: desde la manija de la puerta del dormitorio hasta la cocina, baños, áreas comunes, etc”, explica Carlos Rosso, presidente de The Related Group.

La tendencia llegó para quedarse. Sin dar nombres, Dezer asegura que está por recibir “tres de las mejores marcas del mundo” para sus próximos tres edificios, aprovechando las bondades de esta modalidad. “La marca tiene mucho riesgo si el constructor no termina el edificio, o termina mal, o hay juicio con los compradores. Es un daño enorme a su imagen”, agrega.

A su vez, no cualquier compañía de renombre es sinónimo de ventas. ¿Es posible pensar, por ejemplo, vivir en la torre Apple?, preguntó la nacion. “Para mí no tiene valor porque no corresponde con lujo, y nosotros hacemos viviendas lujosas. Pero si alguien está construyendo un edificio de alquiler para jóvenes, o universitarios, o recién graduados, puede ser que Apple tenga un valor”, explica Dezer.

En alianzas con firmas de automotores o de indumentaria, se tienen en cuenta otros detalles y requerimientos que son acordados entre ambas partes para que el proyecto lleve su nombre.

Aunque depende de la marca, el acuerdo comercial es típicamente un porcentaje sobre las ventas y oscila entre un 2 y un 10 por ciento del valor del producto. Esto se traduce en que si las ventas totales del proyecto son de 200 millones y la cantidad acordada es del 5 por ciento, la marca recibiría entonces 10 millones.

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El branding de edificios suma adeptos

Porsche, Aston Martin, Armani y Fendi son algunas de las marcas elegidas por los desarrolladores; los especialistas aseguran que las asociaciones con “el lujo” revaloriza a los proyectos

MIAMI.- Hasta hace poco tiempo atrás, las marcas de lujo se asociaban a infinidad de productos: ropa, automóviles, relojes, carteras, hoteles. Pero nunca, hasta ahora, a edificios de viviendas.

En Sunny Isles, la ciudad moderna que reúne los rascacielos más lujosos sobre la playa, la torre Porsche se alza imponente. Negra, vidriada, circular, con un ascensor único en su tipo capaz de subir al propietario en su auto hasta el piso 60. Muy cerca está el edificio Fendi, también para residentes con millones en sus cuentas bancarias. Y así siguen entre grúas o planos, marcas de lujo que se proyectan tentando con estilos de vida: Residences by Armani Casa, The Ritz Carlton Residences, Missoni, y Aston Martin.

Gil Dezer, presidente de Dezer Development, tal vez el developer más joven en el rubro de propiedades de alta gama en los Estados Unidos, es uno de los artífices de esta tendencia. Después de hacer realidad la torre Porsche Design, que define como “el éxito más grande de Miami”, con el penthouse vendido al precio más caro de la playa por US$ 25 millones, asegura que vinieron muchas otras compañías a buscarlo. “Tengo a todas las marcas corriendo por mí”, dice en un español con acento.

La historia podría remontarse a 2001, cuando Dezer se asoció con el entonces empresario Donald Trump, hoy presidente, para hacer edificios con la marca Trump. “Tuvimos muchísimo éxito poniendo un nombre a un proyecto porque todo el mundo se enteró inmediatamente. Ese nivel de marketing y publicidad no se puede comprar. Ahí nos dimos cuenta que apuntar a una marca ayuda a hacer ruido muy rápido, y arroja una buena ecuación costo beneficio”, explica a la nacion. Después de hacer seis edificios con Trump, empezó a buscar otras marcas, y escuchó que Porsche estaba buscando una posibilidad similar. Para un fanático de los autos como Dezer, el proyecto tuvo luz verde. Y fue el puntapié para que marcas y developers formaran parejas en el mundo del real estate.

“Porsche Design recibió mucha publicidad, que no podría haberla comprado si hubiera querido”, define Dezer. En efecto salió a la plaza como el edificio más caro de los Estados Unidos, con la unidad más barata arrancando en US$ 5 millones. Incluso en New York, en Central Park, los edificios tienen sus departamentos chicos empezando en US$ 3 millones. Con valores lejos de ser una ganga, sacó 132 unidades al mercado, de los cuales quedan sólo seis por vender.

La tendencia no tardó en expandirse. Fortune, por ejemplo, está llevando adelante The Ritz-Carlton Residences en Sunny Isles, y también se asoció con la marca de moda italiana Missoni para construir un edificio en Edgewater, al Norte del downtown de Miami.

“Con un mercado tornándose muy competitivo, los desarrolladores inmobiliarios, sobre todo los de productos de lujo, comenzaron a tratar de diferenciar sus propuestas”, relata Edgardo Defortuna, fundador de Fortune International Group.

Dezer Development y The Related Group, otro artífice de los rascacielos de la ciudad, se asociaron con Giorgio Armani para lanzar su primera torre residencial, Residences by Armani/Casa.

La famosa marca de autos Aston Martin también anunció su desembarco en el rubro inmobiliario. Asociado con G&G Business Developments, firma basada en Miami propiedad del empresario argentino Germán Coto y su madre Gloria, crearán residencias lujosas en el downtown sobre un terreno que fue noticia en 2014, al venderse en precio récord.

Fendi construyó en Miami el primer condominio de su historia, de 58 unidades, y casualmente de la mano de otro argentino. Fendi Château Residences, ubicado sobre la playa en Bal Harbour, es producto de Manuel Grosskopf, CEO de Château Group, desarrollador de shoppings como Alto Palermo y los condominios de lujo Château Libertador y Château Puerto Madero.

“No es solo un acuerdo, tiene que haber sustancia. Nos llevó mucho tiempo convencer a Georgio Armani para poder ponerle su nombre a nuestro edificio. El diseñador está en todos los detalles: desde la manija de la puerta del dormitorio hasta la cocina, baños, áreas comunes, etc”, explica Carlos Rosso, presidente de The Related Group.

La tendencia llegó para quedarse. Sin dar nombres, Dezer asegura que está por recibir “tres de las mejores marcas del mundo” para sus próximos tres edificios, aprovechando las bondades de esta modalidad. “La marca tiene mucho riesgo si el constructor no termina el edificio, o termina mal, o hay juicio con los compradores. Es un daño enorme a su imagen”, agrega.

A su vez, no cualquier compañía de renombre es sinónimo de ventas. ¿Es posible pensar, por ejemplo, vivir en la torre Apple?, preguntó la nacion. “Para mí no tiene valor porque no corresponde con lujo, y nosotros hacemos viviendas lujosas. Pero si alguien está construyendo un edificio de alquiler para jóvenes, o universitarios, o recién graduados, puede ser que Apple tenga un valor”, explica Dezer.

En alianzas con firmas de automotores o de indumentaria, se tienen en cuenta otros detalles y requerimientos que son acordados entre ambas partes para que el proyecto lleve su nombre.

Aunque depende de la marca, el acuerdo comercial es típicamente un porcentaje sobre las ventas y oscila entre un 2 y un 10 por ciento del valor del producto. Esto se traduce en que si las ventas totales del proyecto son de 200 millones y la cantidad acordada es del 5 por ciento, la marca recibiría entonces 10 millones.

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Entrevista de la semana / Fortune International Group – Miami

En el marco del Congreso de Desarrollo e Inversiones Inmobiliarias del Perú 2017, Expo Real State Perú, llegó a nuestro país el Presidente y CEO de Fortune International Group, Edgardo Defortuna, junto a Ana Cristina Defortuna, Vicepresidente of Sales de Fortune International Group, para presentar uno de los proyectos más importantes como es el Missoni Baia, la lujosa torre de condominios de 57 pisos ubicada en Edgewater, uno de los vecindarios de más rápido crecimiento en Miami. Business Empresarial conversó con ambos representantes de la firma quienes dieron a conocer su interés de ingresar en un futuro al mercado peruano por el gran potencial de inversionistas que buscan satisfacer la demanda de proyectos de lujo en otros países y en el Perú.

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Lanzamiento de Aquaterra Realty , entrevista con Edgardo Defortuna Presidente /CEO de Fortune International Group

Evento de lanzamiento de la firma contó con la presencia de su director Nicolás Belfiore y destacadas personalidades del mundo empresarial. Aquaterra es una importante inmobiliaria internacional que proyecta consolidarse a mediano plazo en Perú, Chile, Ecuador y Bolivia.

La firma internacional Aquaterra Realty dio inicio a sus operaciones en Perú con un cóctel de lanzamiento el pasado jueves 2 de noviembre en sus oficinas de San Isidro. Esta importante firma inmobiliaria con sede en EE.UU., ingresa al mercado peruano con oficinas en Lima y Arequipa, y próximas aperturas en Lima Norte, Lima Sur y el norte del país.

Nicolás Belfiore, director de Aquaterra para Perú, agradeció a los asistentes y anunció que se están introduciendo importantes productos inmobiliarios al mercado peruano bajo una innovadora propuesta de asesoría 360, que garantiza una inversión inteligente. “Contamos con un equipo de especialistas que acompañan a nuestros clientes en el proceso de compra de un inmueble, con asesoría administrativa, contable, legal y financiera, una experiencia inmobiliaria inteligente”, comentó Belfiore.

Al evento asistieron diversas personalidades del mundo empresarial y se destacó la presencia del empresario argentino Edgardo Defortuna, CEO de Fortune International Group, que expresó lo siguiente: “El Perú ha tenido un gran crecimiento económico, quizá el mejor de la región hace varios años ya, y existen oportunidades inmobiliarias que ya han sabido captar. Aquaterra está representando muchos de los proyectos que tenemos en Miami y está diversificando la inversión para el comprador peruano”.

Aquaterra Realty también cuenta con presencia en Ecuador, teniendo actualmente una oficina en Quito con proyección a abrir más oficinas en Guayaquil y Cuenca.

Similar estrategia vienen diseñando para el ingreso al mercado boliviano y el chileno.

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The Amenitized Appliance at Auberge Beach Residences

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Real Estate, Missoni Baia

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Sun, sea and city chic, all year round

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Resort Report, Auberge Fort Lauderdale

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Missoni Baia, la lujosa torre de condominios ubicada en uno de los vecindarios de más rápido crecimiento en Miami, estará en Expo Real Estate Perú

La torre de 57 pisos representa el primero de cuatro proyectos de OKO Group en Miami

Business Empresarial.- Missoni Baia, la lujosa torre de condominios de 57 pisos ubicada en Edgewater, uno de los vecindarios de más rápido crecimiento en Miami, estará en la Expo Real Estate Perú que se llevará a cabo del 2 al 3 de noviembre. Un proyecto de OKO Group, la firma de desarrollos inmobiliarios fundada por el magnate de los bienes raíces y prolífico desarrollador internacional, Vladislav Doronin, será el primer proyecto residencial que llevará la marca de la legendaria casa de moda italiana.

Los mundos de la moda y el diseño sellaron su fusión cuando el equipo de diseño de OKO Group, incluyendo a los internacionalmente aclamados Hani Rashid y Lise Anne Couture, de Asymptote Architecture, y la diseñadora de Nueva York, Paris Forino, se unieron el pasado septiembre,para celebrar el inicio de obra de esta torre sin precedentes frente a la Bahía de Biscayne.

“Missoni Baia está marcando la pauta del mercado residencial de lujo en Edgewater”, comentó Vladislav Doronin, CEO de OKO Group. “Estamos muy orgullosos de unir a talentos tan creativos y particulares como la visión arquitectónica experta de Hani Rashid, la dirección creativa de Angela y Rosita Missoni, la habilidad para el diseño de interiores de Paris Forino y el paisajismo sensible de Enzo Enea, para colaborar en este proyecto residencial, que definirá el lujo en este floreciente vecindario”.

Missoni Baia representa el primero de cuatro proyectos de OKO Group en Miami, así como las primeras residencias que llevan la marca Missoni, la legendaria casa de moda y diseño italiana. Una torre de 649 pies de altura, con 249 residencias elegantemente elaboradas, cada una de entre una y cinco alcobas, y de 72 a 352 metros cuadrados.

Los residentes tendrán acceso a un conjunto completo de lujosas comodidades, ofreciendo el confort de un lujoso resort en un ambiente residencial privado. Entre las características se incluirá una cubierta diseñada para tomar el sol con cabañas bien equipadas, una piscina olímpica, piscinas pequeñas de agua caliente y fría, piscina para niños, y piscina de borde infinito en la terraza frente a la bahía, así como cancha de tenis elevada y una espacioso gimnasio y spa.

La arquitectura contemporánea de Missoni es la visión de Asymptote Architecture, una firma con sede en Nueva York liderada por Hani Rashid y Lise Anne Couture, pioneros en la convergencia entre tecnología y arte, en arquitectura. La firma es mejor conocida por sus proyectos internacionales que incluyen al hotel Yas Viceroy Abu Dhabi y el próximo a abrirse Hermitage Modern Contemporary Museum, en Moscú.

Edgardo Defortuna, presidente de Fortune International Realty, una de las firmas desarrolladores de finca raíz más prestigiosas y reconocidas de Miami, estará dando entrevistas acerca de esta excelente oportunidad para los inversionistas de Perú, en uno de los distritos de mayor proyección en Miami.

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Panthers Partner with Auberge Beach Residences & Spa Fort Lauderdale

SUNRISE, Fla – The Florida Panthers announced today their partnership with Auberge Beach Residences & Spa Fort Lauderdale.

“Both the Florida Panthers and Auberge Beach Residences & Spa ownership have strong commitments to Broward County and specifically to our veterans,” said Andy Mitchell, President and CEO of The Fairwinds Group, who is developing Auberge alongside The Related Group and Fortune International Group. “We are delighted that these two world-class organizations have aligned in this partnership, working closely together throughout the 2017-2018 season to bring the best in hockey and residential development to Broward County residents. Join us on Nov. 2 as we salute the military and give thanks to our national treasures.”

Auberge will also be the presenting sponsor of the ‘Three Stars of the Game’ feature. The Florida Panthers player who is determined to be the ‘Auberge Star of the Month’ each month will receive a signature Auberge VIP Experience, which will nod to the brand’s Napa Valley roots.

In conjunction with Auberge, the Panthers will host Military Appreciation Night on Thursday, Nov. 2, vs. the Columbus Blue Jackets at 7:30 p.m.

“Veteran’s issues are a pillar of the Florida Panthers Foundation and a cause very near to the hearts of the employees, ownership and leadership of the Florida Panthers,” said Panthers President & CEO Matthew Caldwell. “We’re honored to work with Auberge to present the upcoming Military Appreciation Night.”

Veterans and Active Military Personnel with valid identification can receive a complimentary ticket on Nov. 2 courtesy of the Florida Panthers Foundation. Companion tickets for guests of Veterans and Active Military Personnel can be purchased for $20 each at the box office only on day of game.

Panthers players will wear camouflage warm-up sweaters prior to their matchup with the Blue Jackets. Select players’ warm-up jerseys will be entered into an in-game auction outside of Club Lexus. The remaining jerseys will be available in an online auction. Visit auctions.nhl.com to bid on a jersey.

Additionally, the Panthers will honor Carl Muscarello as their Community Coffee Military Hero on Nov. 2. Muscarello is known for being the “Kissing Navy Sailor” in the famous photo taken on V-J Day in Times Square.

About Auberge Beach Residences & Spa Fort Lauderdale:

The Related Group, Fortune International Group and The Fairwinds Group have partnered to develop Auberge Beach Residences & Spa Fort Lauderdale, a distinctive 171-unit beachfront condominium located on the 4.6-acre former site of the iconic Ireland’s Inn. The first project of its kind in Fort Lauderdale, Auberge sits on 450 linear feet of oceanfront property and is the only luxury residential project in the city located directly on the sand. The two-tower property features unparalleled luxury residences with sweeping ocean views and expansive terraces for year-round indoor-outdoor living. With a world-class spa, restaurant and resort amenities, the market-making property is poised to become the go-to luxury destination for those seeking incomparable design and resort living in a rare beachfront setting. Overseeing every aspect of the lifestyle will be Auberge Resorts Collection, the preeminent luxury hotel operator acclaimed for its timeless resorts that embrace intimate, understated elegance.

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TRD‘s Miami event tackles sea level rise, new development, Moishe Mana and more

More than 4,500 real estate brokers, investors and developers flocked to The Real Deal’s Fourth Annual Miami Real Estate Showcase & Forum on Thursday to get the latest intel from the industry’s movers and shakers, including Moishe Mana, Alicia Cervera Lamadrid and Art Falcone.

Forty-six exhibitors, including new development projects, lenders and brokerages, lined the path to the panel room at Soho Studios. Fortune International Group showcased its “Very Important Properties” with a VIP champagne lounge, while boutique development 303 Surfside enticed attendees with a chocolate fountain. Tesla displayed its Model X on the showcase floor, as attendees networked.

Moishe Mana sounds off

The event, held at Soho Studios in Wynwood on Thursday, kicked off with a one-on-one by TRD South Florida Managing Editor Ina Cordle with developer Moishe Mana, who stood up to condemn President Trump and his “destructive” actions. “When he was chosen to be the Republican nominee, I declared it the moral bankruptcy of America,” Mana said, drawing applause.

The Israeli investor began exploring Miami neighborhoods in 2011 as he was traveling back and forth to Asia, he told the crowd. In Wynwood, Mana has assembled 40 acres where he plans to build the Mana Wynwood Americas-Asia Trade Center & International Financial Center, a trade hub and cultural campus set to break ground next year. He expects to bring Chinese partners and companies to the city. “There is no reason Miami can’t become the Hong Kong of the future,” Mana said.

Is South Florida drowning?

The controversial topic of sea level rise packed the forum with attendees hungry for intel on how it will impact South Florida real estate.

Miami City Commissioner Francis Suarez, former U.S. Congressman Patrick Murphy, city of Miami Beach Engineer Bruce Mowry, and architect Kobi Karp spoke candidly about encouraging resilient buildings, changing city codes, engaging politicians and more to combat climate change. TRD‘s Editorial Director, Digital Hiten Samtani moderated the panel.
“Florida is at the forefront of design, innovation and code,” Mowry said. “Every developer wants to be on the cutting edge of that.”

Sea level rise, he said, is nothing to be afraid of but something to prepare for.

Over the next 15-20 years, if sea level rise continues at its current pace, Murphy asked, what does that mean for underground parking garages, streets and for real estate investment?

“What can I sell that for if there’s no place to park my car, [if I] can’t get to the streets? If that starts to happen, we have a big problem here in South Florida,” he said.

In Miami Beach, the city has been investing millions in raising streets – a measure that has drawn controversy as well as support. “At least we’re taking a step forward,” Mowry said. “Is there resistance? Yes. Are we making mistakes? Yes.”

Suarez, who’s running for mayor of Miami, is planning to propose incentives to reduce the carbon footprint within the city, including for owners of homes with solar panels and drivers of electric cars.

Commercial’s hot pockets

Miami is somewhat immune to the doom and gloom that retail across the U.S. is facing, top brokers said at TRD’s last panel of the day.

But there are concerns about vacant storefronts and high rents, Chariff Realty Group’s Lyle Chariff said. He was joined by Tere Blanca of Blanca Commercial Real Estate, Avra Jain of the Vagabond Group and Jonathon Yormak of East End Capital. Cordle moderated the panel.

“As retail changes and fashion retailers change, we’re seeing a different trend. I believe the spaces we have will get filled up,” Chariff said.

Jain, who focuses on submarkets like MiMo and Little Haiti, said developers and brokers are working harder to keep their tenants. “When is it retail and when is it office? We’re seeing that there’s a shift and having adaptable spaces certainly helps,” she said.

Affordability on the retail side is almost as important as affordability on the rental side, Yormak said. His firm owns the Wynwood Arcade in Wynwood, home to the popular Salty Donut cafe. Food and beverage is a dominant force toward creating successful tenant mixes.

“How many retailers generate enough sales annually? We have to be very focused as we’re building on how much we’re going to change,” he said. “We’re at risk of destroying the fabric of what the community [Wynwood] has been as national retailers enter the market.”

Developers on moving product, launching new projects and more

A trio of developers joined TRD for the “Sizing up the development cycle” panel. Edgardo Defortuna of Fortune International Group, Terra’s David Martin and Miami Worldcenter developer Art Falcone discussed the challenges they’re facing in a stagnant residential market with moderator Samtani. Defortuna spoke candidly about the slew of condo projects and the expectation that the market would have stayed hotter for longer.

In 2010, “there was a lot of need and a lot of demand and we all thought it was going to last for a long time,” he said. Since early last year, fewer projects have launched. Some developers are holding onto their land and some are forging ahead, like Falcone, who said he’s in his 14th year of working on Miami Worldcenter.

Issues like sea level rise and the further limits on legal immigration could hurt development, Martin added.
Tackling a shifting resi landscape

South Florida’s top residential brokers led the panel on “Finding the buyers,” moderated by TRD’s Editor-in-Chief Stuart Elliott. EWM Realty International’s Ron Shuffield, Douglas Elliman’s Jay Parker, Cervera Real Estate’s Cervera Lamadrid, Coldwell Banker’s Nancy Klock Corey and Miami Real Estate Group’s Andres Asion were quick to acknowledge slow sales this year and an especially sluggish September thanks to Hurricane Irma.
Asion said social media images of flooded streets in Miami’s Brickell area belied the limited property damage in South Florida due to Hurricane Irma.

Pricing correctly is also key to closing a deal in this market, otherwise six months of work could amount to nothing, Shuffield said.

Elliott also surveyed panelists on sexual harassment in the industry in the wake of the Harvey Weinstein firestorm. They spoke of the importance of responsive leadership, reporting abusers and the frequency in which it happens.
Lamadrid’s advice to women: “You are who you are. You’re going to stand your ground the way you think you should stand your ground. It doesn’t matter how they want to treat you. It’s how you’re going to respond to that treatment,” she said. “Many times I have looked at guys and said ‘Would your mom be proud of you right now?’ That works pretty well.”

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Snaidero USA Selected as Kitchen Cabinets Provider for the Brickell Flatiron Luxury Condos in Downtown Miami

LOS ANGELES, Oct. 26, 2017 (GLOBE NEWSWIRE) — Snaidero USA, the leader in North American imports of European kitchen cabinets, has been chosen as the kitchen supplier for the 549 ultra-luxury condos of the Brickell Flatiron, a new Downtown Miami development by Ugo Colombo’s CMC Group with architecture by Luis Revuelta. With this project, Snaidero USA continues to fulfill its mission of bringing the finest Italian design and craftsmanship to high-end multihousing projects all over North and Central America, helping raise the bar of luxury living.

The kitchen cabinetry selected for Brickell Flatiron is Snaidero’s WAY, a North America best seller and winner of the 2012 GOOD DESIGN™ Award. The model is 100% made in Italy and manufactured with strict environmentally-friendly practices. It features very modern and clean aesthetics, interior cabinetry and countertop LED lights, and a highly functional array of accessories.

The slender glass tower soars sixty-four stories high with curvilinear forms to accommodate spacious floor plans and provide expansive city views. The interiors of the public areas – following a dynamic “art gallery” concept – are by Italian architect/designer Massimo Iosa Ghini, himself a long-time Snaidero design partner.

The five-star grade amenities include a Sky Spa, gym, and pool, a rooftop garden, a theatre, billiard and cigar room, wine cellar, outdoor lap pool, children’s playroom, and personal concierge services.

The project joins a prestigious list of over 55 high-end residential towers that Snaidero USA has furnished in Florida since 1992 and more than 170 across North and Central America (including California, Canada, Hawaii, Chicago, New York, Las Vegas, Washington DC, Pennsylvania, Virginia, Honduras, Puerto Rico, and Turks and Caicos.)

About Snaidero USA

Snaidero USA is the exclusive North American distributor of Snaidero kitchen cabinets. For almost 40 years, Snaidero USA has offered the finest in luxury Italian kitchen design to North America and Central America through a retail network of 22 showrooms. Snaidero USA also serves the multihousing industry, partnering with top developers like Howard Hughes Corporation, Fortune International Group, Turnberry, AEG, ASPAC Developments and the CMC Group, for over 170 projects completed to date. Today, under the leadership of its President, Comm. Dario Snaidero, Snaidero USA is the leader in North American imports of European kitchen cabinets. Through its Snaidero USA Living collection, the company also offers made-in-Italy furniture for bathrooms and closets. The kitchens are made of eco-friendly, non-toxic materials through production processes with limited impact towards the environment. Snaidero USA is a member of the US Green Building Council. For more information, please visit www.snaidero-usa.com.

About Snaidero R. SpA (Italy)

Founded in 1946, Snaidero is Italy’s leading manufacturer of high-end kitchen cabinets. A wealth of experience built over 70 years of tradition and innovation. Always at the forefront of style and innovation, Snaidero partners with world-renowned artists, architects, and industrial designers, such as Ferrari stylist Pininfarina, international architect Massimo Iosa Ghini and acclaimed Italian designers Lucci and Orlandini, to create top-of-the-line products manufactured with environmental responsibility.

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Lanzan penthouses de lujo en un proyecto de Miami

Brickell Flatiron, torre de 64 pisos de CMC Group, presentó sus espacios más exclusivos en la zona del distrito financiero de Brickell.

Da desarrolladora CMC Group, que está levantando en Miami la torre Brickell Flatiron, en la zona del distrito financiero de Brickell -una de las más dinámicas de la ciudad-, lanzó su colección de penthouses correspondientes al emprendimiento.

Diseñada por el famoso arquitecto Luis Revuelta y con la firma del proyectista de interiores Massimo Iosa Ghini, Brickell Flatiron cuenta con 64 pisos y está ubicada a solo una cuadra de Brickell Avenue, en el 1001 de South Miami Avenue. Con 549 unidades de entre una a cinco habitaciones o dúplex, será el edificio residencial más alto en el sureste de los Estados Unidos, entre Nueva York y los Cayos de la Florida.

Los exclusivos penthouses del emprendimiento presentan grandes vistas del downtown de Miami y consisten en una selección de ocho únicos planos de piso, donde cada espacio está diseñado bajo altos estándares de confort y estética, destacó el desarrollador Ugo Colombo, presidente de CMC Group.

La desarrolladora es la creadora de edificios que marcaron el inicio de la nueva Miami hace dos décadas, como las torres Santa María, Bristol Tower y Grovenor House, señaladas como pioneras en el estilo de vida de mansiones en altura y comodidades de hoteles cinco estrellas.

Entre las características distintivas de Brickell Flatiron, explica Colombo, figura su Sky Spa en el último piso, único en la zona. “El último piso, la mejor vista, ha sido destinado a todos los residentes. En su lugar hemos podido construir un penthouse que tendría un precio altísimo pero tomamos la decisión de diseño que crea un valor agregado en el tiempo para los compradores. En característica marcará la diferencia de nuestras unidades hoy, y en 10 o 20 años”, señaló Colombo.

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Missoni Baia, la lujosa torre de condominios, estará en Expo Real Estate Perú

La torre de 57 pisos representa el primero de cuatro proyectos de OKO Group en Miami. Serán las primeras residencias que llevan la marca Missoni, la legendaria casa de moda y diseño italiano. Ubicado en Edgewater, uno de los vecindarios de moda en Miami

Missoni Baia, la lujosa torre de condominios de 57 pisos ubicada en Edgewater, uno de los vecindarios de más rápido crecimiento en Miami, estará en la Expo Real Estate Perú que se llevará a cabo los días 2 y 3 de noviembre. Este proyecto de OKO Group, la firma de desarrollos inmobiliarios fundada por el magnate de bienes raíces y prolífico desarrollador internacional, Vladislav Doronin, será el primer proyecto residencial que llevará la marca de la legendaria casa de moda italiana.

Los mundos de la moda y el diseño sellaron su fusión cuando el equipo de diseño de OKO Group, incluyendo a los internacionalmente aclamados Hani Rashid y Lise Anne Couture, de Asymptote Architecture, y la diseñadora de Nueva York, Paris Forino, se unieron el pasado septiembre, para celebrar el inicio de obra de esta torre sin precedentes frente a la Bahía de Biscayne.

“Missoni Baia está marcando la pauta del mercado residencial de lujo en Edgewater”, comentó Vladislav Doronin, CEO de OKO Group. “Estamos muy orgullosos de unir a talentos tan creativos y particulares como la visión arquitectónica experta de Hani Rashid, la dirección creativa de Angela y Rosita Missoni, la habilidad para el diseño de interiores de Paris Forino y el paisajismo sensible de Enzo Enea, para colaborar en este proyecto residencial, que definirá el lujo en este floreciente vecindario”.

Missoni Baia representa el primero de cuatro proyectos de OKO Group en Miami, así como las primeras residencias que llevan la marca Missoni, la legendaria casa de moda y diseño italiana. Una torre de 649 pies de altura, con 249 residencias elegantemente elaboradas, cada una de entre una y cinco alcobas, y de 72 a 352 metros cuadrados.

Los residentes tendrán acceso a un conjunto completo de lujosas comodidades, ofreciendo el confort de un lujoso resort en un ambiente residencial privado. Entre las características se incluirá una cubierta diseñada para tomar el sol con cabañas bien equipadas, una piscina olímpica, piscinas pequeñas de agua caliente y fría, piscina para niños, y piscina de borde infinito en la terraza frente a la bahía, así como cancha de tenis elevada y una espacioso gimnasio y spa.

La arquitectura contemporánea de Missoni es la visión de Asymptote Architecture, una firma con sede en Nueva York liderada por Hani Rashid y Lise Anne Couture, pioneros en la convergencia entre tecnología y arte, en arquitectura. La firma es mejor conocida por sus proyectos internacionales que incluyen al hotel Yas Viceroy Abu Dhabi y el próximo a abrirse Hermitage Modern Contemporary Museum, en Moscú.

Edgardo Defortuna, presidente de Fortune International Realty, una de las firmas desarrolladoras de finca raíz más prestigiosas y reconocidas de Miami, estará dando entrevistas acerca de esta excelente oportunidad para los inversionistas de Perú, en uno de los distritos de mayor proyección en Miami.

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Top developers discuss Miami’s post-boom market at TRD forum

As Miami’s condo market lags, developers are working hard to sell their remaining inventories and looking long term when it comes to completing major projects like Miami Worldcenter.

In 2010, “there was a lot of need and a lot of demand and we all thought it was going to last for a long time,” Edgardo Defortuna, president and CEO of Fortune International Group, said at The Real Deal’s Fourth Annual Miami Real Estate Showcase & Forum on Thursday.

Fifty percent deposits coupled with a lack of financing forced developers to lower their leverage. Projects under construction now are mostly 60, 70 and 80 percent sold, Defortuna said during the development panel. Fewer projects have launched since the beginning of 2016.

“We’re controlling our supply better,” said David Martin, president of Terra. Martin said the restrictive zoning in Miami Beach is protecting his land from competition. The Coconut Grove developer is building Eighty Seven Park, a luxury condo tower in Miami Beach.

Art Falcone, co-founder and managing principal of Encore Capital Management, said the key to developing a major mixed-use project like Miami Worldcenter is that he doesn’t use debt to finance land acquisitions. “I’m in my 14th year, before we make our first dollar we will be in our 16th year,” he said.

Finding construction financing for Paramount, the luxury condo component of Worldcenter, was especially challenging.
“There’s never a bad real estate cycle as long as you have time and no debt,” Falcone joked.

The slowdown has sent developers to other foreign markets in search of buyers, like Turkey, Europe and China. Latin Americans still consider Miami a safe haven for investment, but “the perception today is the urgency is not that much anymore,” Defortuna said.

Among Fortune’s increased sales efforts is participating in international real estate fairs. “We have to work a lot harder to make a little bit less money,” he added.

During the residential slowdown, other sectors like industrial and multifamily have picked up. Policy changes like potentially reducing the number of H-1B visas could have a detrimental impact on Miami real estate, Martin said.
The beauty of Miami, Defortuna said, is that “anyone [moving] here can feel like home.”

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Missoni Baia: Luxury Condos Inspired By Legendary Fashion Designer

MIAMI (CBSMiami) – Known as one of the leading and most distinctive fashion houses in the world, the Missoni style began as a collaboration between the husband and wife team of Ottavio and Rosita Missoni.

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“It really began in the 1950s with you and your husband, yes?” asked CBS4’s Lisa Petrillo.

“Absolutely. We were married in 1953 and I was coming from a family where I grew up among fabrics, embroidery, silks, prints in a factory. That was my playground when I was a child,” Said Rosita.

They met when he designed the uniforms for the London Olympic Games in 1948.

After they married in 1953, they began making items of knitwear in a small workshop in the basement of their home. Color, strips and zigzags became their signature style. The rest as they say is history.

“The brand hasn’t really changed that much except for modernizing. It’s still about stripes and colors, right?” Asked Petrillo.

“Yes, stripes and colors. But back at that time we couldn’t do checks for instance. It’s grown a lot because of the high-tech machines,” Rosita said.

In the 90s their daughter Angela took over the reins as head of the fashion empire. Then Rosita started Missoni Home.

“Missoni Home is the business I developed when Angela my daughter at end of 1990s when she decided she was ready to take the reins of fashion,” she explained.

Not “feeling” retirement, Rosita soon took Missoni Home from bed and bath to everything for the home – furniture, accessories and more.

Just recently, Rosita was on hand for the groundbreaking party of Missoni Baia, a brand new 57-story waterfront building with 249 residences in the Edgewater district of Miami.

The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities.

“It’s an adventure because we are going to see how it will be. People have the chance to choose a Missoni designer apartment if they want, and of course we are prepared for that. We have all kinds of fabrics, items and pieces of furniture, so it’s very exciting,” Rosita said.

And at age 85, Rosita, now a great grandmother, isn’t slowing down one bit. She spends most of her time living in her native Italy, but plans on being back to South Florida often to work on the project.

Missoni Baia is expected be completed sometime at the end of 2020.

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Missoni Baia Breaks Ground In Edgewater Miami

Fashion and real estate are coming together in one of the latest real estate projects to hit Miami. OKO Group, the Miami-based development company founded by real estate magnate and international developer, Vladislav Doronin, hosted an event on October 12th in celebration of Missoni Baia’s groundbreaking.

City of Miami Commissioner Francis Suarez and Miami Dade Commissioners Xavier Suarez and Audrey Edmonson took part in the ceremonial groundbreaking of the 649-foot-tall tower, representing the first of OKO Group’s five Miami projects, as well as the first-ever branded residences from the legendary Italian fashion and design house.

Over 100 VIPs, local dignitaries, and brokers attended the event, which made way for the new waterfront development in the burgeoning neighborhood of Edgewater. A convergence of fashion and design, Rosita Missoni, along with the project’s design team consisting of Hani Rashid and Lise Anne Couture of Asymptote Architecture and New York designer Paris Forino, were in attendance to usher in the significant milestone for the highly-anticipated project.

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The Ritz-Carlton Residences Sunny Isles Beach se presenta como una inversión de lujo en Perú

The Ritz-Carlton Residences es la marca favorita del mercado de lujo en el mundo. El proyecto es una obra de Château Group y Fortune International Group. Edgardo Defortuna, presidente de Fortune International estará dando entrevistas acerca de este impresionante proyecto en el marco del Expo Real Estate Perú 2017

Una imponente torre de 52 pisos dispuesta directamente frente a la playa, con el servicio, la calidad y el toque personal de la marca favorita del mercado de lujo en el mundo, llega a Sunny Isles Beach, uno de los vecindarios preferidos por inversores, turistas y residentes de Miami. The Ritz-Carlton Residences Sunny Isles Beach estará en Expo Real Estate Perú 2017, que se llevará a cabo el 2 y 3 de noviembre.

The Ritz-Carlton Residences Sunny Isles Beach se elevará entre las prestigiosas Bal Harbour Shops y el fabuloso Aventura Mall, en una propiedad donde el lujo sin precedentes, un espléndido diseño y arquitectura, se complementarán con un escenario que acercará a sus propietarios a toda la emoción, cultura y belleza del Sur de la Florida.

El proyecto es una obra de Château Group y Fortune International Group, dirigidas por los exitosos argentinos Manuel Grosskopf y Edgardo Defortuna, ambas compañías líderes en el desarrollo de bienes raíces de lujo en la región. Defortuna estará dando entrevistas acerca de este impresionante desarrollo en el marco de la feria.

“Este proyecto marcará un hito en la construcción en Sunny Isles Beach. Estamos hablando de una magnifica torre de 649 pies (197.8 metros) construida directamente en un frente de playa de 250 pies (76 m), en una propiedad de 2.2 acres”, comenta el señor Defortuna. “Contamos con un diseño espectacular, llevado a cabo por Arquitectonica, la prestigiosa e internacionalmente reconocida firma de arquitectos, y con exuberantes jardines diseñados por Arquitectonica GEO. Tan solo el impresionante lobby de dos pisos con un panel de cristal de cuatro pisos, con vista a la piscina y a la playa es en sí , una obra de arte”.

The Ritz-Carlton Residences Sunny Isles Beach contará con 212 residencias desde los 1,605 pies2 a 3,640 pies2 (149 m2 -338 m2), y penthouses de hasta 6,320 pies2 (587 m2), con interiores creados por el reconocido diseñador Michele Bönan.

“Además de comodidades como el acceso directo a la playa, con sombrillas y camas asoleadoras , restaurante con servicio a la piscina y a la playa, club para niños con instalaciones de juegos bajo techo y al aire libre , y un moderno gimnasio frente al océano. También contará con un exclusivo Club Privado en el piso 33, con vistas infinitas en todas las direcciones , sala de medios, lounge, dos áreas de bar, cocina totalmente equipada, la cual sirve al área VIP para cenas privadas , centro de negocios y biblioteca”, comentó Manuel Grosskopf.

Una vez terminada su construcción en el 2018, The Ritz-Carlton Hotel Co. administrará la propiedad, brindándole a los residentes el servicio, la calidad y el toque personal ya legendarios y sinónimos de esta célebre marca.

The Ritz-Carlton Residences Sunny Isles Beach es una oportunidad única para los inversionistas peruanos, interesados en el lujo y la vida cosmopolita del Sur de la Florida.

Pueden encontrar The Ritz-Carlton Residences Sunny Isles durante el Expo Real Estate Perú en el puesto numero 29.

Para información adicional acerca del proyecto , por favor llame al 305-901-0039 o visite http://www.theresidencessunnyislesbeach.com/.

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Missoni Baia Groundbreaking

El pasado 12 de Octubre Missoni Baia Residences, un proyecto de la casa de moda italiana Missoni, festejó junto con familiares y amigos el inicio de la construcción del lujoso desarrollo con un singular espectáculo.

En el evento se encontraba la legendaria Rosita Missoni que junto con su esposo Ottavio Missoni fundaron la marca que lleva el mismo nombre y que revolucionó al mundo de la moda. En 1969 Rosita y Octavio fundaron la firma Missoni desde su casa junto con sus telares. Hoy en día, el complejo alberga la empresa más importante del diseño ubicado en un vergel rodeado de un frondoso bosque en Varese, Italia. El estampado caracterísico de la marca es el tejido en diagonal mismo que Rosita lució para esta ocasión.

Además estuvieron presentes grandes empresarios como el desarrollador del proyecto Vladislav Doronin, aruitectos del proyecto, Hani Rashid, Lise Anne’s Couture y la diseñadora Paris Forino así como Edgardo Defortuna , presidente de Fortune Realty, la firma de ventas del proyecto junto con su esposa y figuras públicas como Francis Suarez.
El show del evento se realizó frente la Bahia de Edgwater con un flyboard que cautivo a los invitados junto con una atractiva rubia saxofonista que tocó desde el aire. Posteriormente se realizo el simbólico inicio de construcción con los realizadores del proyecto.

Missoni Baia Miami Residences contará con 249 departamentos de lujo entre 1 y 5 habitaciones, Ubicado entre Biscayne Bay y Design District, www.missonibaia.com

El mundo Missoni

UNA FUERZA VISIONARIA EN EL 
MUNDO DE LA MODA Y EL DISEÑO

Cuando la gente habla de Missoni, tienden a referirse a “los Missoni”, ya que la historia de la marca es inseparable de la historia de la pareja. Ottavio era un campeón de atletismo de Dalmacia con experiencia en ropa deportiva y Rosita, una estudiante inglesa cuya familia era propietaria de un negocio de ropa y blancos para el hogar. Se conocieron en 1948 y se casaron en 1953. La combinación de sus experiencias resultó en el nacimiento de una empresa que creó uno de los mayores ejemplos de productos italianos: un estilo que es absolutamente inconfundible por su mezcla de colores, tipo de punto y combinación de tonos iridiscentes. Un estilo nunca antes visto que pronto se hizo conocido en todo el mundo. Al principio, había sólo líneas, ya que eso era todo lo que las máquinas podían producir en ese momento, pero a medida que la tecnología avanzó, la pareja desarrolló más estampados que fueron tornándose cada vez más originales y complejos, hasta que cada diseño se convirtió en una obra de arte.

Hoy, toda la familia continúa involucrada en el negocio. La hija de los Missoni, Angela, ha sido la directora creativa de la empresa desde 1997, cuando Rosita le cedió el puesto. Su hermano, Luca, supervisa los archivos de Missoni y las muestras de arte de la empresa. Desde 1997, Rosita ha sido la directora creativa de la línea Missoni Home, una traducción exitosa de los colores brillantes y los patrones audaces de la marca, al mobiliario y los tapices residenciales.

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Vladislav Doronin’s OKO Group Breaks Ground on Missoni Baia in Edgewater

Vladislav Doronin’s OKO Group officially broke ground on Missoni Baia in Edgewater on October 12 in a stunning style that has set the stage for the first-ever Missoni branded residences. The event was attended by some of Miami real estate’s biggest players and featured speeches by Edgardo Defortuna & Vladislav Doronin, capped off with a live flyboard performance and live saxophone. Missoni Baia will be a 57-story luxury condominium tower which will rise 649′. The tower represents the first of OKO Group’s four Miami projects as well as their first residential development. Missoni Baia will also be the first-ever branded residences from the legendary Italian fashion and design house, Missoni. Check-out the video and gallery of the swanky groundbreaking below.

Tags: OKO Group, Vladislav Doronin, Missoni Baia, News, New Construction, Events, Missoni, Angela Missoni, Edgardo Defortuna, Edgewater, Construction Update, Featured

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Las torres más caras de Miami

Los proyectos de ultra lujo tienen servicios cada vez más excéntricos, que van desde ascensores para autos hasta suites para invitados y chef a disposición de los propietarios; cuánto cuesta vivir en ellos

Todo vale a la hora de sorprender a los compradores y los desarrolladores comienzan a replicar la fórmula de asociarse con marcas de otros sectores para diferenciarse e invitar a experiencias diferenciales.

Por caso, la torre Porsche en Miami es el debut en el rubro inmobiliario de la famosa marca de automóviles. Es la primera en el mundo con un ascensor para autos que permite a los dueños seguir luciendo su Porsche desde la sala de estar. La torre de concreto y cristal con forma circular diseñada tiene tres elevadores para autos. Cada uno puede subir hasta 60 pisos y luego depositarlo en el garaje privado del conductor, sin necesidad de bajar del vehículo. Una vez en su casa, algunas unidades ofrecen ver el auto desde la sala de estar, separada por un vidrio con el guardacoches. Además, el propietario tiene la privacidad para que nadie lo vea entrar o salir de su departamento, ni cruzarse en el lobby o el ascensor, lo cual hace que el edificio sea buscado por gente de muy alto perfil.

¿Y si el comprador no tiene un Porsche? No es problema, pero probablemente lo tenga, si pudo adquirir un departamento que va de los US$ 5,3 a los US$ 33 millones. Las unidades vienen con piletas en los balcones que, al encenderse, emiten una corriente contra la cual es posible nadar.

Los departamentos van desde los 442 m2 a 1300 m2. La más cara, se vende a US$ 16,5 millones: tiene cuatro dormitorios, seis baños y un toilette.

El proyecto Residences by Armani Casa, ubicado en Sunny Isles es el primer proyecto inmobiliario del diseñador en los Estados Unidos. Con 200 metros de alto, esta moderna torre de vidrio tiene la firma del famoso arquitecto argentino César Pelli, mientras que el paisajismo también estuvo a cargo de un multipremiado suizo, Enzo Enea. El edificio tiene 54 pisos que reúnen 308 exclusivas residencias sobre el océano.

Como no podía ser de otra manera, los interiores estuvieron a cargo de Giorgio Armani. La exagerada atención al detalle es una de sus características. Solamente la construcción del centro de ventas costó más de US$ 10 millones. Los baños tienen sector para ellas y ellos. El vestidor ofrece hasta 28 m2 de superficie, mucho más que una habitación regular. A la hora de hablar de precios, el rango oscila entre US$ 1,5 y US$ 5,5 millones. Los servicios del edificio incluyen paseador de perros, sala de cigarros, chef a disposición y hotelería con servicio de mucama.

El penthouse tiene seis dormitorios en los pisos 53 y 54 y se vende a US$ 15 millones. El comprador recibe dos pasajes en primera clase a Milán para tener una reunión privada con Giorgio Armani y permanecer dos noches en su hotel.

Por otra parte, 1000 Museum by Zaha Hadid, Downtown es una torre que combina el arte con la arquitectura. Su figura se diferencia del resto de los edificios ya que su esqueleto forma curvas que atraviesan su estructura de vidrio. El exoesqueleto, su armazón de acero y vidrio, en lugar de estar por dentro, como la columna vertebral humana, está por fuera. Sólo dos edificios en Miami tienen esa técnica de construcción. Será el único edificio residencial de la ciudad que contará con helipuerto privado. Las unidades van de US$ 5,5 millones a US$ 19 millones.

Chateau Group y Fortune International Group, líderes renombrados en desarrollos inmobiliarios, se unieron para construir en Sunny Isles, el Ritz Carlton Residences. La torre de 52 pisos tendrá 212 residencias rodeadas de espacios abiertos y múltiples balcones para maximizar las vistas del océano en toda la casa. Los cuatro pisos superiores incluyen unas enormes terrazas escalonadas, cocina, pileta y jardín privado. Cada unidad contará con un ascensor privado para un acceso directo y discreto. El proyecto incluye amenities como restaurantes, salas y bares exclusivos para los residentes y suites para invitados y familiares, entre otros. Los precios para un tres ambientes arrancan en US$ 2,5 millones. Los penthouses se vendieron en US$ 16,5 y US$ 21 millones.

Park Grove desarrollado por Terra Group y the Related Group está situado sobre la bahía en Conocut Grove. Son tres torres con 297 unidades, que también tendrán un restaurante de Michael Schwartz, reconocido chef en la Florida.

La arquitectura pertenece a Rem Koolhaas, considerado uno de los más importantes arquitectos y urbanistas de su generación, con obras en Copenhague, Nueva York, Dubai, Qatar, China, y Singapur, entre otros. El edificio es por completo de vidrio, lo cual otorga ventanales del piso al techo en todos sus ambientes. Los precios van de un millón a US$ 14 millones.

Elysee Miami en Edgewater es un edificio de lujo boutique. Tendrá 57 pisos con vista directa a la bahía de Biscayne albergará 100 residencias de lujo con unidades de tres a cinco habitaciones que miden entre 205 y 361 metros cuadrados, con valores de U$S 1,39 millones a más de U$S 10 millones. La delgada torre de cristal tiene una forma única de telescopio de tres niveles con solo dos unidades por piso, lo cual permite una vista de 180 grados. Una pileta de 22 metros de largo, gimnasio y estudio de yoga y un salón de belleza son algunas de sus instalaciones comunes. Todas las residencias tendrán muebles italianos de primera línea para las cocinas y los baños, así como dos terrazas frente al este y oeste con una vista de 180 grados. Miami Worldcenter es el segundo emprendimiento inmobiliario más grande de los Estados Unidos. Además de viviendas ofrece un sector comercial con calles interiores para peatones. Dentro del complejo, el Paramount Miami Worldcenter ofrecerá departamentos desde 110 m2 a 243 m2, con valores que van desde U$S 750.000 a U$S 1,4 millones. Uno de los elementos más atractivos es su Upper Deck de primera clase, que se estrenará como la plataforma de recreo más grande de los Estados Unidos.

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Missoni Baia, pasión por el diseño visionario

Missoni Baia, pasión por el diseño visionario / ENTORNOINTELIGENTE.COM / Los grandes diseñadores de moda apuestan desde hace años por diversificar mercados en las grandes metrópolis del mundo. Por ello, más allá de sus colecciones de vestuario y accesorios de lujo, las marcas de moda ahora han decidido innovar en áreas como la arquitectura y el diseño de interiores.

Missoni, la icónica casa de moda y diseño de lujo fundada en 1953, se une a esta tendencia con Missoni Baia, la primera torre de condominios de lujo de la marca. Con 57 pisos distribuidos en un aproximado de 200 pies de altura frente en la Bahía de Biscayne, la apuesta está enfocada en el mantenimiento del patrimonio artesanal de Missoni, integrando estilo, artesanía e ingeniería para hacer de la experiencia residencial un proyecto de calidad incomparable, una edificación impactante que sobresale con una presencia imponente tanto en el horizonte de la ciudad como en el paisaje de la línea costera.

Missoni Baia captura el espíritu alegre de la familia Missoni, e infunde toda la experiencia del edificio con su pasión por el diseño visionario, la calidad e innovación. La colorida paleta de diseño de Missoni se incorpora en el diseño interior del edificio tanto como la colección de mobiliario Missoni Home, en formas muy creativas, incluyendo todos los espacios y áreas públicas del edificio. Los residentes podrán disfrutar de las comodidades de un lujoso resort en un entorno residencial privado con acceso a un conjunto de espacios con estilo diseñados en colaboración con Missoni, que incluyen una cubierta sobre el agua creada para tomar el sol con cabañas bien equipadas; cinco piscinas diferentes -una olímpica, de inmersión caliente y fría, infantil y una piscina infinita, además de canchas de tenis elevadas y un amplio gimnasio y spa, todos con vista a la bahía de Biscayne.

Cada una de las 249 residencias ofrece diseños de piso por nivel con múltiples vistas a la ciudad, Miami Beach y el horizonte del Océano Atlántico. La edificación cuenta con tres espectaculares residencias dúplex con amplias terrazas privadas, y dos penthouses equipados con piscinas y ventanales de cielo abierto. En armónica fusión con los diseños de Missoni, la diseñadora de interiores Paris Forino ha dispuesto de fondos neutros pero lujosos que resaltarán magistralmente el mobiliario y arte que exhibirá Missoni Baia.

Missoni Baia se convertirá en el nuevo referente paisajístico de la Bahía de Biscayne con su universo de colores y líneas. OKO Group, compañía de desarrollo urbanístico, fue la encargada de revelar los detalles del proyecto con el sello Missoni.

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Missoni Baia to Break Ground on 57-Story Condo In Edgewater

A development group led by Russian billionaire Vladislav Doronin will break ground on the Missoni Baia condo tower in Miami’s Edgewater neighborhood on Oct. 12.

The groundbreaking ceremony will take place at 5 p.m. at 777 N.E. 26th Terrace.

Developed by Doronin’s OKO Group and Cain International, Missoni Baia will be the first residential building branded by luxury Italian fashion house Missoni. It was designed by Hani Rashid and Lise Anne Couture of Asymptote Architecture and New York designer Paris Forino, with landscaping by Enzo Enea.

See renderings of the Missoni Baia and its amenities in the slideshow.

“Missoni Baia is leading the way in Edgewater; setting a new standard for a sophisticated living with amenities worthy of a luxury resort, ” Doronin said. “OKO Group is investing over $700 million into the Edgewater neighborhood, further bolstering this emerging, vibrant community. The Missoni Baia residences bring to the market an opportunity to invest in a unique lifestyle with a broad range of unparalleled amenities and panoramic waterfront views.”

The 57-story tower will have 249 units ranging from 766 to 3,788 square feet. Prices start at $500,000.

Missoni Baia should be completed near the end of 2020.

OKO Group, which is in negotiations with general contractors, declined to say how many units in the project were presold.

Craig Studnicky, principal of residential brokerage ISG World, said his research found that Missoni Baia has less than 20 units presold. Most developers don’t break ground until they have at least 60 percent presales, he noted. The Aston Martin condo in Miami is also set to break ground later this month at far short of 60 percent presales, he said.

“These might turn out to be good bets, as both projects will take three years to complete construction and delivery in late 2020 with very little new inventory for buyers to choose from then,” Studnicky said. “At the moment, both the Missoni and Aston Martin developers are taking a step that most of their competitions will not; however, time might prove these gambles as wise.”

Doronin said he’s happy with the progress of sales.

“We are fortunate to have strong financial partners with OKO Group and Cain International, which allows us to fund construction with equity,” Doronin said. “We expect to obtain a construction loan shortly.”

He said that many buyers have come from Brazil, Argentina, Colombia, Turkey, Russia and the U.K. The northeastern U.S. is also a focus of its sale efforts.

“Collaborating with a brand like Missoni helps us to tell the story of the building in a way that can be easily understood globally because people are already familiar with this historic Italian fashion house,” Doronin said. “This story resonates with our core markets, particularly in South and Central America, where the brand has a loyal following.”

Amenities at Missoni Baia include a sun deck with cabanas, spa, fitness center, tennis court and five pools, including an infinity-edge pool facing the bay and an Olympic-size lap pool. It will also include a walkway along Biscayne Bay.

This is the first of four projects that OKO Group is planning in Miami. It owns additional sites in Edgewater and Brickell.

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Movers & Shakers: Missoni Baia Hired Liliana Pinto-Torres

Two Roads Development named Cervera Real Estate’s Sandra Masis director of sales for Elysee Miami. The developer launched sales of the 57-story, 100-unit tower about two years ago and has sold roughly 45 percent of the building. Masis is a top producer at Cervera, where she closed more than $83 million in sales.

Peter Mekras has returned to Aztec Group as managing director. Mekras left CREC, where as senior vice president he closed more than 100 deals totaling nearly $1 billion. He was previously managing director at Aztec, as well. Mekras will focus on investment sales, debt and equity deals for investors and developers in Florida, with an emphasis on multifamily.

Douglas Elliman’s Tracy Galya was promoted to residential sales director of 1 Hotel & Homes South Beach. Galya was previously director of the Bill and Bryan Team, one of Elliman’s top teams in Florida.

The brokerage recently lost Carolina Rainer, who handled sales of 1 Hotel & Homes’ penthouse collection, to Fortune International Group. Galya will oversee sales of remaining penthouse units.

The Levy Group left Coldwell Banker for EWM Realty International. It’s led by Wendy Levy-Jackson and Adam Levy and includes Jennifer McDonald Levy, Maria Eugenia Escagedo, Jodie Mesa and Evelyn Alfaro. The Levy Group focuses on luxury sales in Pinecrest and Palmetto Bay.

Eric D. Swanson will lead Avison Young’s Development Advisory Services. Swanson, senior vice president at Avison Young, will lead strategic planning, property analysis, entitlements, financing and more. He was previously a partner at Treadwill Franklin Infrastructure Capital.

Missoni Baia hired Liliana Pinto-Torres as a sales agent. She left Douglas Elliman for the Fortune Development Sales project. At Elliman, Pinto-Torres was part of the One River Point sales team.

Shelby G. Smith III joined Berger Commercial Realty/CORFAC International as a senior property manager. He was previously president of the property management division at The Fitzgerald Group.

Brightline named David Helfman vice president of corporate partnerships as the high-speed rail service prepares to launch. He was most recently director of corporate partnerships for the Miami Dolphins.

Coldwell Banker brought on Melissa Pierre Kelly as a sales associate in Pinecrest, Stephen Tendrich and Jennifer Salerno at the Las Olas office in Fort Lauderdale, and Yiyin “Angie” Perkins and Liane Lowy in Aventura.

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Liliana Pinto-Torres Joins Missoni Baia Sales Team

The newest luxury condominium tower set to rise in the fast-growing Edgewater neighborhood, Missoni Baia is pleased to announce that Liliana Pinto-Torres has joined their sales team. Sales and marketing for the residences of Missoni Baia are being exclusively handled by Fortune Development Sales.

Pinto-Torres joins Missoni Baia from Douglas Elliman, where she served on the One River Point sales team. Prior to her time at Douglas Elliman, she worked for Cervera Real Estate where she surpassed sales benchmarks and held the record for the fastest, most profitable sales in several of the most sought-after condominium properties in Hollywood, Hallandale Beach and Sunny Isles Beach.

An established realtor with an affinity and expertise focused on the luxury market, Pinto-Torres is regarded for her marketing prowess and unmatched business acumen. She possesses extensive insight into the South Florida market and is empowered with a personal network of buyers and investors within both the Latin American and European markets. A native of Colombia, Pinto-Torres is fluent in both English and Spanish, with comprehension in Portuguese and German. She is actively involved in several local charitable organizations, including the Children’s Cancer Caring Center and Camillus House.

“We are thrilled to have Liliana join our Missoni Baia sales team,” said Edgardo Defortuna, President and CEO of Fortune International Group. “With over three decades of combined sales, marketing, strategic communications and project development experience, in addition to nearly a decade in the real estate market, Liliana is the ideal candidate to elevate Missoni Baia’s sales to new heights.”

Designed by internationally acclaimed Hani Rashid of Asymptote Architecture and developed by OKO Group under the leadership of Vladislav Doronin, a real estate magnate who has developed over 75 million square foot of property and 71 projects, Missoni Baia will set a new standard for quality and sophistication in East Edgewater. Designed by New York designer Paris Forino, who envisioned the tower’s 249 elegantly crafted one- to five-bedroom residences and dressed in Missoni fabrics, furnishings, and artwork that complement Asymptote’s forward-thinking, high performance architectural design. The building offers expansive amenities worthy of a luxury resort and unrivaled in Miami—including an Olympic-sized pool and one of the city’s largest and most elegantly appointed spas—and a richly layered landscape designed by Enzo Enea. Missoni Baia is slated to break ground on October 12th.

For additional information on Missoni Baia or to schedule a tour, please contact 305.800.7000 or visitmissonibaia.com.

ABOUT OKO GROUP

OKO Group is an international real estate development firm established by Chairman and CEO, Vladislav Doronin. OKO Group builds on the formidable expertise of Mr. Doronin, one of the most successful and respected international developers, and his peerless track record in constructing more than 75 million square feet of world-class commercial, retail and luxury residential space over a total of 71 buildings as Founder of Capital Group.

OKO Group brings not only considerable financial strength to the U.S. market, but also a passion for working with the very best architects and designers in the world, including Pritzker Prize–winning architect Zaha Hadid, the preeminent architecture firm Skidmore, Owings & Merrill, known for designing some of the world’s tallest towers, visionary Hani Rashid of Asymptote Architecture, acclaimed interior designer Iosa Ghini Associati, and the legendary designer Jacques Grange. OKO Group’s current U.S. portfolio includes prime properties and development projects in Miami and New York City. As owner and Chairman of Aman, one of the most admired hospitality brands in the world, Mr. Doronin’s global business portfolio spans across Europe, Asia and the U.S. More information about OKO Group is available at okogroup.com

ABOUT MISSONI

Missoni is one of the leading and most distinctive fashion houses in the world. The Missoni style has evolved out of a long-standing collaboration between the husband and wife team of Ottavio and Rosita Missoni. Ottavio Missoni came to London in 1948 for the London Olympics, where he qualified for the final 400m hurdle race. While in London he met Rosita Jelmini, the granddaughter of a family of manufacturers from Golasecca, in Northern Italy. After marrying in 1953 they began making items of knitwear in a small workshop in the basement of their first home in Gallarate. Ottavio and Rosita’s path has been followed by their children and grandchildren, who today continue to keep alive the spirit of the Missoni style all over the world. Angela Missoni has been the creative director of the company since 1997 and is committed to infusing the family’s brand with new energy, confidently communicating trends and ideas. Under her direction, Missoni’s runway shows and communication continually make an authoritative, international statement. Luca Missoni, brother of Angela, is the Artistic Director of the Missoni Archive which he is developing into a project to promote and valorize the Company’s artistic and fashion heritage. More information about Missoni is available at missoni.com.

About Fortune Development Sales

Fortune Development Sales is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having represented more than eighty of South Florida’s most successful projects. Led by visionary founder Edgardo Defortuna, Fortune has 18 offices around the world with nearly 1,000 associates and a worldwide brokerage network reaching prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris. Fortune Development Sales is an affiliate of Fortune International Group, a recognized leader in development, sales and marketing since 1983. The company’s current development portfolio includes many of the most prominent residential in South Florida including Jade Signature, The Ritz-Carlton Sunny Isles, Auberge Beach Residences and Spa Fort Lauderdale and Hyde Resort & Residences Hollywood. www.fortuneintlgroup.com

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Movers & Shakers: Fortune International Group Brought On Alicia McCormack To The Glasshaus In The Grove Sales Team

Brian Batchelder left Stiles Realty to join Berger Commercial Realty/CORFAC International as vice president of the brokerage. He’ll be based at the firm’s Palm Beach County office, where he will handle leasing assignments totaling 500,000 square feet of space.

City of Miami Commissioner and candidate for mayor Francis X. Suarez left GrayRobinson for Carlton Fields. Suarez joined the law firm’s real estate and commercial finance practice group.

A former publisher of Vogue in Latin America just joined Douglas Elliman as a Realtor associate. Vanessa Maggi, who led Vogue as publisher for more than a decade, left Keller Williams Realty for Elliman. She’ll be working out of the brokerage’s Miami Design District office.
Eddie Yarmer joined Rivergate KW Residential as senior vice president of operations for the Florida, Georgia and Texas markets. He was previously managing director for Greystar Real Estate Partners, where he oversaw about 16,000 units.

Fortune International Group brought on Alicia McCormack to the Glasshaus in the Grove sales team. McCormack previously worked on the Paramount Miami Worldcenter sales team.
Cervera Real Estate’s Elmir Group, led by Karen Elmir, brought on Crystal Tejera as a Realtor associate.

EWM Realty International hired eight agents at its Las Olas office: Carline Douze, Allison Fleck, Kristen Paulson, Richard Poirier, Ilana Pool, Homer Rollins, Kristina Sentance and Keith Stewart.

Coldwell Banker hired Oraivis Otero as a sales associate in its Pinecrest office, Ted Burns in Delray Beach office, and Maritere Rivera in the company’s Brickell/Key Biscayne office.

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Glasshaus Condo; Perfect Fit For The Grove

I asked Jim Cohen and Javier Llunch about the new Glasshaus condominium going up on 27th Avenue.

For more than 20 years Jim Cohen has been a leader in the luxury residential real estate industry. As the Senior Vice President of Development Sales for Fortune, Jim leads all sales efforts for the firm’s entire development marketing portfolio (both domestic and international) including Fortune’s own developments as well as third-party developments. G.D8 with Element Development LLC, are the developers of Glasshaus condominium on SW 27th Avenue in Coconut Grove.

Javier Lluch has successfully developed and managed real estate projects, properties and investment funds from Florida to Illinois for almost two decades, including partnerships with some of the largest U.S. real estate firms, articulating real estate investment transactions close to a billion dollars. While working for Citigroup and Morgan Stanley, Mr. Lluch negotiated and established important institutional relationships in the U.S. and Latin America, managing relationships worth upwards of a billion dollars of investment funds.

Glasshaus offers very intimate and private residences, home to only 23 owners. Pricing starts at $595.000.

I asked Jim if he felt that the Glasshaus was one of their luxury collection, for which Fortune is known.

“Absolutely. Familiarize yourself with Daniel Ribeiro, Brazilian co-developer for Glasshaus and a few of his developments recognized for their innovative designs and emphasis on ultra-luxury residential projects. GD8 has been honored by FIABCI International Real Estate Federation with the prestigious Prix D’ Excellence award,” said Jim.

I asked Javier Lluch what made him choose Coconut Grove for his latest project.

“Coconut Grove is strategically situated in a pivotal location within Miami, offering prime real estate property for residents who enjoy walking to a bohemian village, waterfront parks and playgrounds also to include Dinner Key Marina, the city’s largest marina. Lifestyle the neighborhood calls for walking distance to the heart of the village, bay front parks and playgrounds, sailing and yacht clubs, art galleries, museums, gourmet restaurants, street side cafes and lounges playing live music with on-going community events and festivals coupled with its close proximity to Downtown Miami, Brickell, Key Biscayne and South Beach, were key factors in choosing Coconut Grove as home to Glasshaus Residences,” said Javier.

G.D8 with Element Development LLC, the developers of Glasshaus, own several properties in the Grove where they will develop similar boutique style buildings in the future.

Javier has lived in Coconut Grove for the last 20 years. Coconut Grove is his home, “where my family resides and I am currently raising my children,” he said.

He went on, “Coconut Grove is a hidden treasure offering a unique lifestyle, few other neighborhoods in the city can compare to. Founded by yachtsmen, made famous by artists best described as casual wealth, flip flops and Maserati’s offering an urban core lifestyle in one of the few walkable waterfront parks the city has to offer.

“A neighborhood like no other where you will find luxury high-rise bayfront towers, smaller intimate boutique style buildings and million dollar homes adjacent to charming private cottages coupled with high end hotels, sailing and yacht clubs is very unique to the Coconut Grove community.

“My favorite thing about Coconut Grove is its natural beauty and vegetation the neighborhood offers; oak trees, pelicans and peacocks roaming the streets of our amazing bayside village in an ecological friendly community.”

A special feature of Glasshaus is the exotic Zen Garden located on the ground level where their Garden Villa Lanai’s and glass to ceiling fitness center is located, it capitalizes on the natural beauty and charm the Grove has to offer, an amenity exclusive to Glasshaus residents enjoying the beauty of the Grove while relaxing in the privacy of their home.

Ground breaking is December, 2017. The estimated completion of project is Q4 2018.

Here is the deposit structure:
20% at Contract (Now)
20% at Ground breaking (Estimated 4th Quarter of 2017)
10% at Top Off

50% Balance at Closing (Estimated 4th Quarter of 2018)

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Cover story for the “Island Life” featuring The Ritz-Carlton Residences, Sunny Isles Beach

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Fort Lauderdale Condo Inventory, Sales Up: ISG Report

Of 1,410 units in Fort Lauderdale, nearly 800 or 57% are sold and 611 on the market

Most new condo projects in east Fort Lauderdale have made sales progress over the last year, a newly released report shows.

Developers have sold nearly 800 units or 57 percent of the inventory of new development condos in Fort Lauderdale so far this cycle, according to RelatedISG’s Fall 2017 Miami Report | Fort Lauderdale Edition. The company surveys the sales centers and sales teams of each project in east Fort Lauderdale.

Of 1,410 units in Fort Lauderdale, 611 remain on the market. The inventory has nearly doubled since ISG released its last report a year ago thanks to projects like the Ocean Resort Residences at the Conrad coming back online, an increase in units at the Four Seasons Private Residences, and the addition of 100 Las Olas, a 120-unit luxury condo project. The Residences at the W Fort Lauderdale was also added to the list.

In September 2016, 59 percent of the 781 units on the market had been sold. Since then, developers and their sales teams boosted sales at projects like Auberge Beach Residences & Spa in Fort Lauderdale, the Gale Residences Fort Lauderdale Beach and Adagio Fort Lauderdale Beach, according to the report.

At Auberge, which the Related Group, Fortune International Group and The Fairwinds Group plan to deliver early next year, sales increased year-over-year from 87 percent to 95 percent in the north tower and from 28 percent in the south tower to 53 percent. The Gale, a 129-unit development under construction at 401 Bayshore Drive, announced earlier this year that it sold out.

Projects that are new to the list reported the following sales figures:

  • The Residences at W Fort Lauderdale: 52 percent sold of 171 units
  • The Ocean Resort Residences at Conrad: 40 percent sold of 290 units
  • 100 Las Olas: 13 percent sold of 120 units

Fort Lauderdale is faring slightly better than Miami, according to ISG principal Craig Studnicky.
Projects that are under construction, like Jade Signature, Muse Residences and Residences by Armani/Casa in Sunny Isles Beach, are discounting their remaining inventory, he said.

In Sunny Isles, developers sold 146 units more by August as compared to April, according to ISG data. Less than 400 units are available for sale in Sunny Isles of more than 2,100 units planned, under construction or completed this cycle. Developers have sold 1,720 units in the Sunny Isles market since the beginning of the cycle.

Discounts range from 10 percent to a whopping 30 percent to attract Latin Americans who have stayed away from South Florida because of the dollar’s strength.

“It’s been a solid two years since we’ve seen robust sales from South America,” Studnicky said. “The South American buyer will return.”

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MEET SIX SOUTH FLORIDA REAL ESTATE PROFESSIONALS WHO IMPART INDUSTRY WISDOM—WITH A TOUCH OF STYLE

CLICK HERE to read article

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Brickell Flatiron Taps Fortune to Handle Sales

About a month after cutting ties with Cervera Real Estate, developer Ugo Colombo hired a new sales and marketing firm.

Colombo’s CMC Group brought on Fortune International Group to handle the exclusive sales and marketing of Brickell Flatiron, a 64-story, 549-unit condo tower under construction at 1001 South Miami Avenue, according to a marketing email blast. Cervera lost the project in late August.

Fortune’s newly hired Carolina Rainer will be the sales director, and agents Adriana Brito, Christopher Suarez and Andres Villalobos will be part of the sales team.
Brickell Flatiron is 70 percent sold, a spokesperson said. Prices range from about $500,000 to $2.5 million, and up to $15.5 million for penthouses. Units will range from one to five bedrooms and will go up to nearly 6,300 square feet.

The new assignment comes as Fortune wraps up sales and marketing of its other Brickell projects, including the Related Group’s SLS Lux and Brickell Heights, the latter of which was delivered earlier this year and sold out for about $500 million.

Brickell Flatiron, which was designed by architect Luis Revuelta, will be delivered in June 2019. Construction is on the 16th floor. In March, the developer closed on $236 million in construction financing, including $138.3 million from Bank of the Ozarks.

At 736 feet, the building will be among the tallest towers in Miami, behind Panorama Tower, which will be 830 feet tall when it opens later this year. Brickell Flatiron’s amenities include a rooftop spa, pool and gym, a theater, billiard and cigar room, a wine cellar and a 24-hour concierge and parking valet. The condo tower will also feature interiors by Massimo Iosa Ghini of Italy’s Iosa Ghini Associati.

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Vladislav Doronin’s OKO Group Announces Groundbreaking of Missoni Baia in Edgewater

OKO Group, the Miami-based development company founded by real estate magnate and prolific international developer, Vladislav Doronin, has announced the groundbreaking of its 57-story luxury condominium tower Missoni Baia. The 649-foot-tall tower, represents the first of OKO Group’s four Miami projects as well as their first residential development. Missoni Baia will also be the first-ever branded residences from the legendary Italian fashion and design house, Missoni. The project will host a groundbreaking event to commemorate the start of construction on Thursday, October 12th.

“Missoni Baia is leading the way in Edgewater; setting a new standard for a sophisticated living with amenities worthy of a luxury resort, ” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are proud to bring these distinctive, creative talents together; Hani Rashid’s expert architectural vision, the creative direction of Angela and Rosita Missoni, Paris Forino’s skilled interior design and Enzo Enea’s sensitive landscaping, to collaborate on this residential project which will define luxury in this burgeoning neighborhood. OKO Group is investing over $700 million into the Edgewater neighborhood, further bolstering this emerging, vibrant community. The Missoni Baia residences bring to the market an opportunity to invest in a unique lifestyle with a broad range of unparalleld amenities and panoramic waterfront views.”

“I could not envision a more exceptional project for my brand,” said Angela Missoni, Creative Director of Missoni. “I look forward to bringing the Missoni lifestyle to Miami and delivering a product with the timeless elegance and superlative quality that is synonymous with Missoni.”

Missoni Baia will feature 249 condo residences situated along 200′ of frontage on Biscayne Bay. Prices start in the $500,000’s for a 1 bedroom residence. Units range from 1 to 5 bedrooms, and 776 SF to 3,788 SF. Missoni Baia was designed by Hani Rashid of Asymptote Architecture, who are pioneers in the convergence of art and technology in architectural design. The firm is best known for its eye-catching international projects including the Yas Viceroy Abu Dhabi Hotel. Missoni Baia will feature minimalist modern design and architecture to maximize natural light with exterior sculptural, structural columns wrapped in aluminum framing the building. The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities. Amenities were designed in collaboration with Missoni and offer the comforts of a luxurious resort in a private residential setting. Features include a flow-through deck designed for all-day sunbathing with well-appointed cabanas, 5 swimming pools including an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool, and an infinity-edge pool on the Bayfront Terrace, elevated tennis court and an expansive fitness center and spa overlooking the bay.

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Missoni Baia to break ground shortly in Edgewater

The first of four OKO Group projects plans to break ground in Miami in the coming weeks, the developer announced today, with the 649-foot Missoni Baia beginning its rise at 777 Northeast 26th Terrace in Edgewater.

The 57-story luxury tower will be the first-ever branded residences from the Italian fashion and design house, Missoni. Comprised of 249 units ranging from 776 to 3,788 square feet, the project holds its official groundbreaking ceremony Thursday, October 12. Residences are now priced from $500,000 with the developer reducing the size of floor plans.

Amenities include five swimming pools, an elevated tennis court and fitness center, a spa overlooking the bay, a media room, a beauty salon, a children’s playroom, and a pet spa.

“Missoni Baia is leading the way in Edgewater; setting a new standard for a sophisticated living with amenities worthy of a luxury resort,” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are proud to bring these distinctive, creative talents together; Hani Rashid’s expert architectural vision, the creative direction of Angela and Rosita Missoni, Paris Forino’s skilled interior design and Enzo Enea’s sensitive landscaping, to collaborate on this residential project which will define luxury in this burgeoning neighborhood. OKO Group is investing over $700 million into the Edgewater neighborhood, further bolstering this emerging, vibrant community. The Missoni Baia residences bring to the market an opportunity to invest in a unique lifestyle with a broad range of unparalleled amenities and panoramic waterfront views.”

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Top Athletes Purchase At Auberge Beach Residences And Spa Fort Lauderdale: Jacob Trouba And Dan Marino

When you think of buying a luxurious property in South Florida as a young professional, Fort Lauderdale might not be the first city you think of. However, with its changing demographics from retirees to young professionals, it seemed like the perfect choice for the Winnipeg Jets’ Jacob Trouba.

Trouba is a 23-year-old Michigan native who decided to make Auberge Beach Residences and Spa his primary residence along with his girlfriend, Kelly Tyson. Trouba is excelling in his career as he was a first round, ninth overall pick and has scored 31 goals for the Winnipeg Jets.

Like other Related Group, Fortune International Group, and The Fairwinds Group properties, you can expect the same level of luxury and amenities throughout the building, particularly stunning architecture by Nichols Brosch Wurst Wolfe & Associates. Other world-class amenities include a state-of-the art spa, gourmet dining experiences, personalized concierge services and the 24/7 valet parking.

Auberge Beach Residences and Spa will be gaining another professional athlete as well, former Miami Dolphin quarterback Dan Marino. It seems like this residence is sure to be a place where you can find your favorite athletes in the 6,000+ sq. ft. fitness center with you.

Trouba may be use to the cold in Winnipeg and Michigan, but he will sure feel the warmth from the amazing community of South Florida.

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Edgardo Defortuna: “Miami tendrá una reducción de su inventario”

El desarrollador argentino, que desembarcó en los Estados Unidos en la década del ochenta, analiza en detalle el potencial de la ciudad

El empresario argentino que en 1983 fundó Fortune International Group en Miami explica cómo funciona el desarrollo del mercado inmobiliario en la ciudad americana.

-¿Cómo analiza el mercado en Miami, cree que hay exceso de unidades en construcción, y que los precios bajarán?

– No veo que vayan a caer significativamente, porque el comprador ha puesto 50 por ciento de depósito en su compra y puede financiar el otro 50 por ciento, de manera que sin poner más dinero, toma posesión sin problema. Lo que sí veo es una reducción de potencial inventario para futuros proyectos.

En Miami hay dos mercados, uno más para el inversor en el área de Brickell. Ahí hay mucho producto disponible, ya que se construyó demasiado. El otro mercado es más de lujo y está sobre la playa. Hay menos producto, los terrenos son más difíciles de conseguir, y está prevendido. No hay proyectos en camino de ser lanzados porque no hay tierra, y porque la demanda ha caído un poco. Pero si me pregunta en rasgos generales ¿va a haber nuevos lanzamientos? Lo más probable es que no.

– ¿Podría ser un final de ciclo?

– Lo que pasó en el ciclo anterior es que pedían sólo el 10 o 20 por ciento de depósito y no hubo financiación cuando llegó la hora de tomar posesión. El comprador decidió abandonar su depósito y quedaron un montón de unidades disponibles que los desarrollistas pusieron a la venta a precios muy inferiores. Este ciclo es diferente. No hemos visto ningún edificio donde una cantidad de dueños resignaran sus señas. Después lógicamente algunos lo ponen a la venta, pero en general lo usan o lo alquilan, ya que el mercado de alquiler se ha mantenido fuerte.

– ¿Hay muchos proyectos de pozo en ejecución?

– Recientes estudios revelan que hay aproximadamente 14.901 departamentos en preconstrucción en Miami -incluyendo Brickell, Miami Downtown, Edgewater y las playas: Miami Beach, Hollywood, Sunny Isles- y estiman que el 80 por ciento ya está vendido.

– ¿Cuáles son los precios promedio para nuevas unidades?

– Dependen del área y el tipo de proyecto. Las más exclusivas frente a la playa en Sunny Isles van de US$12.000 a US$ 15.000/m2, según precios promedios de nuestros dos proyectos allí: The Ritz-Carlton Residences Sunny Isles Beach y Jade Signature. Si hablamos de propiedades con un perfil más de inversionista en áreas como Brickell, Midtown, y Edgewater que está en pleno auge, el promedio oscila entre de US$ 4800 y US$ 8000/m2.

– ¿Hay una tendencia de asociar los proyectos con las marcas de lujo?

– Como desarrollista hay mucho producto y una forma de diferenciarnos es con marcas. En algunos casos como Missoni o Fendi, marcas de lujo no asociadas al real estate. En otros casos se relacionan con la hotelería. Nosotros trabajamos con el Ritz Carlton. Teníamos la oportunidad de ponerle una marca de lujo de producto y nos inclinamos por ésta que ofrece servicio garantizado, entrenamiento de la gente, que saben y conocen lo que requiere el residente que busca algo de lujo. La marca te da un estilo, y la de hotelería te indica el servicio y tipo de tratamiento.

– ¿Cómo se compara el mercado de Miami con el de New York?

– Este último es más maduro. Hasta hace unos 15 años atrás, Miami atraía al inversor latinoamericano. El resto del mundo era casi insignificante con respecto a los capitales de New York. Hoy se ha balanceado más, hay mucho inversor europeo y asiático. Incluso el mismo comprador de Nueva York está apostando a Miami.

-¿A futuro se podrían equiparar los precios?

– Mientras más escasas sean las tierras en Miami, sobretodo frente al mar, hay espacio para crecer. Antes las propiedades en Nueva York estaban 4 veces por encima de Miami en precio. Hoy lo mejor de esa ciudad está al doble que lo mejor de Miami. Hemos crecido fuerte.

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Movers & Shakers: Fortune Hires Former Elliman Sales Director & More

Fortune International Group hired a former sales director of 1 Hotel & Homes South Beach, Carolina Rainer.

Rainer joined Douglas Elliman about a year and a half ago and closed about $50 million in sales last year, focusing on the 1 Hotel & Homes’ penthouse collection.

At Fortune, she’ll handle sales for a project that has not been announced. Rainer decline to name the development. Rainer has previously worked for ISG and owned her own real estate firm.

A former New York City-based Corcoran Group agent moved south and joined Douglas Elliman’s Miami Luxury Homes group. Andrew K. Becerra was part of the Albert & Rice team at Corcoran, and previously sold luxury real estate in Northern California.

Mike Moore joined Tower Commercial Real Estate as the director of business development for tenant representation. He has 22 years of accounting experience, all of which was with Deloitte Consulting.

Franklin Street hired Justin Berryman as director for retail landlord services in the Miami office. He transferred from the company’s Atlanta office, where he leased more than 3 million square feet of space between Atlanta and South Florida. His clients have included Kimco, Westwood Financial and Sandor Development.

Gerald Radtke joined Berger Commercial Realty/CORFAC International as a senior property manager. Radtke will oversee the firm’s 7-million-square-foot portfolio. He previously worked for Liberty Property Trust.

Coldwell Banker hired Ursula Pardo Smith as an agent in the brokerage’s Aventura office.

Kerdyk Real Estate hired Michael Loeb as a Realtor. His experience is in sales and hospitality, and plans to represent tenants and landlords in South Florida’s hospitality industry.

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Ranking The Top Resi Firms in SoFla

What does it mean to go “above and beyond” to close a sale? For one broker, it was a matter of ferrying a buyer who, post-back surgery, needed a ride to the airport.

“The associate picked up her from her hotel, carefully helped her into the car and brought her to the airport to get the [closing] documents signed prior to the flight taking off,” said Nancy Klock Corey, Coldwell Banker’s regional vice president of Southeast Florida, who manages the Miami Beach office in addition to her regional role.

Chauffeur is just one of the many hats a broker might wear while working to close a deal. “There’s a hundred different things the sales associates face. Negotiations get difficult,” Corey said. “They start early in the morning and work late at night.”

In a market that is not as bustling as it once was — and which may see more sluggishness in the aftermath of Hurricane Irma — the residential brokerages that are doing better than the rest attribute their success to the resources they provide to their clients, like financing tools, and those they provide to agents — including coaching on sales techniques and exclusive intel on foreign markets, pricing and style trends. They also seek to cultivate in their brokers the sort of anything-it-takes attitude that earns the loyalty of a dwindling pool of buyers.

That approach seems to be paying off for Corey’s firm, Coldwell Banker. In Broward County, the firm was at the top of the heap, according to The Real Deal’s ranking of residential brokerages, with just over $987 million in sales in the county over the last twelve months.

To rank the top brokerages of Miami-Dade, Broward and Palm Beach counties, TRD analyzed brokerages’ total sales volume over the last twelve months using data pulled from Redfin, which compiles MLS data. Only single-family home, condo and townhouse sales posted to the MLS were considered. Most new development sales, which are rarely put in the MLS, were not included, resulting in lower numbers for firms that heavily focus on new condo projects. Firms received credit for every sale they participated in, whether on the listing or selling side. However, when a firm represented both sides, each sale was only counted once. As a result, the sales figures in TRD’s ranking were lower than what appears on the MLS. All firms were contacted.

Top Residential Brokerages in Miami

Corey told TRD that Coldwell — which ranked second in Miami-Dade with just over $1 billion in sales and third in Palm Beach County with about $646 million in sales — communicates with its offices in countries like Italy and Turkey via Whatsapp to find out what’s happening and how that will impact the South Florida market, the brokerage and its agents. This is one of the advantages the large firm has over other brokerages, she said.

She’s also on the phone with her 19 South Florida offices on a weekly basis, tracking what’s selling and what’s not. “Sometimes, what’s moving is style — clean or modern — and some of it is price-sensitive,” she said.

In uncertain times, a wealth of data also helps EWM Realty International, which reigned supreme in Miami-Dade county, with over $1.19 billion in sales, according to TRD’s ranking.

As a self-described “numbers guy,” EWM President Ron Shuffield is forever tracking the absorption rates of inventory for both condos and houses in addition to keeping an eye on the price brackets that are selling best. He’s also quick to detail employment and population stats to help sell South Florida to buyers and agents.

Shuffield recently created a research position to look at the “big data picture.” Speaking before Hurricane Irma struck, Shuffield said he wasn’t fazed by the current slowdown. “We know how to prepare and when to make adjustments with pricing and marketing,” he said. “The markets change weekly. People get anxious.”

Support is key to quelling broker worries, he said. The company holds weekly sales meetings lasting about 45 minutes, and the company’s offices are staffed with managers who don’t sell real estate — for the most part — to ensure that they’re focused on helping EWM’s agents, not competing with them. The firm hosts lunch-and-learns and webinars for its brokers. It also publishes a monthly currency overview report internally, to show the brokers what’s happening in the minds of international buyers.

Coldwell Banker, too, focuses on boosting its agents’ skills. The brokerage offers long-term financial planning via webinars, one-on-one sessions and individual training. All new associates are put through a four-week training program. Top producers, like Jill Eber and Jill Hertzberg of the Jills, have access to a VIP program and a coach. Corey is also in charge of coaching the Jills, which includes pushing and redirecting them, as well as getting out of their way when needed.

On the flip side, firms that lack the heft of a national name brand use their boutique status to their advantage when it comes to attracting top talent. Beachfront Realty owner and broker Ed Roberts, for example is proud to distinguish his firm — ranked ninth in Miami-Dade with nearly $307 million in sales — from the larger players. Beachfront is “the opposite of a lot of major franchises like Keller Williams and Coldwell Banker,” he said of the company, which has three offices, including one on 41st Street in Miami Beach and one in Pembroke Pines.

Roberts said that he makes himself available to his agents seven days a week and claimed that Beachfront offers more one-on-one support than any other company. The brokerage “doesn’t really have meetings,” unless an annual party counts, he said. It sends out a Monday morning newsletter geared at informing agents of what’s happening in the market and at Beachfront, in addition to offering online training for contracts, listings, mortgage classes and more.

Top Residential Brokerages in Broward County

Roberts said he has at least 500 agents who have been with Beachfront for more than 15 years, and attributes their longevity to a balance of independence and support — if they need it. He’ll also give advances on commissions if an agent is down and out. “We treat [brokers] as customers. We need them, so we treat them accordingly,” he said. “They all love us because we don’t monkey with their money. We pay instantly. They walk in with a check, they leave with a check.”

Based in Aventura, Beachfront charges zero fees to its agents and does not recruit them, Roberts said. The firm takes on about 300 agents a year and is up to nearly 2,000 agents. “Everybody who joins us is by word of mouth,” Roberts said.

Attractive commission splits certainly sweeten the deal. Beachfront agents receive 90 percent commissions on most deals, which is higher than the industry standard of about 75 to 80 percent, he said. “I owned a Century 21 franchise in a prior life, so I understand the mentality of Realtors. They don’t like working their asses off and getting 75 percent,” he added.

United Realty Group, ranked third in Broward with over $368 million in sales, is among the few brokerages in South Florida that offer agents full commissions with a flat per-transaction fee. Charles Rutenberg Realty, ranked fifth in Broward with just under $250 million in sales, offers full commissions as well.

Another top 10 firm, Fortune International Realty — which ranked sixth in Miami-Dade with about $376 million in sales volume — accentuates its broker support as a factor that distinguishes it from other firms. “We’re just not a big company or big franchise that doesn’t know their agents. I know them personally, my wife knows them personally,” President Edgardo Defortuna told TRD.

The company has weekly office meetings and lunches, and it hosts focus groups for its 800 agents. In a slow market, Fortune doesn’t have time for agents who “treat this as a part-time job,” Defortuna said.

And to better compete with the likes of Coldwell Banker and EWM, which are owned by Realogy and HomeServices of America, respectively, South Florida’s homegrown brokerages like Fortune International Realty are beefing up their extra services.

Fortune partnered with Rialto Capital Management this year to launch a private bridge lending firm. “Anything that makes their decision to buy easier,” Defortuna said, stressing the importance of this in a slowdown.

Fortune and Rialto are about to hit the $100 million mark on loans since launching Vaster Capital in the spring. Defortuna said the joint venture is filling a need for foreign buyers seeking bridge loans due to weakened currencies in their home countries. “The one-stop shop is very important for the buyer,” Defortuna said. “We have to really cater to every potential buyer because the urgency to buy is not there anymore.”

Fortune, which is also one of South Florida’s biggest condo development and marketing firms, also offers property management services. On the brokerage side, the majority of its business comes from preconstruction.

Top Residential Brokerages in Palm Beach County

But even the bigger firms are feeling the need to make moves that will keep them at the front of the pack. The rush of acquisitions by competitors like One Sotheby’s International Realty (ranked fourth in Miami-Dade with almost $765 million in sales and seventh in Broward with $215 million in sales) and Douglas Elliman (ranked third in Miami-Dade with about $785 million in sales and fifth in Palm Beach County with close to $639 million) has led Fortune International Realty to consider buying smaller firms (see TRD’s story on brokerage acquisitions on page 32).

However, Defortuna said that ultimately, Fortune would rather grow organically because the expense associated with acquisitions can outweigh the benefits.

But if you can’t acquire other firms wholesale, some good old-fashioned broker poaching works. Corcoran Group, a powerhouse in the New York City market, ranked fourth in Palm Beach County with over $643 million in sales but does not operate in Miami-Dade or Broward. The firm, while owned by Realogy, is independently managed and run by CEO Pamela Liebman. It focuses mostly on waterfront condos and homes in Boca Raton east of Interstate 95.

Bill Yahn, a Corcoran regional senior vice president, said he reaches out to top agents at other firms “every day.” The firm, which has about 140 full-time agents, is considering opening a third office in Palm Beach County. Yahn declined to provide commission splits but said they’re in line with the market.

He added that the firm is fortunate that “most of our clientele for Palm Beach County is ultimately coming from the New York City area.”

On the island of Palm Beach, Yahn said, its biggest competitor is Sotheby’s International Realty. In the coastal markets of the county, Premier Estate is Corcoran’s toughest rival, he said.

In Palm Beach County, Premier ranked seventh with over $349 million in sales, while Sotheby’s didn’t make the top 10. Leading the ranking was the Keyes Company, with $1.09 billion, followed by Lang Realty with nearly $727 million. (Keyes’ self-reported sales numbers in the three counties were higher than those found using TRD’s methodology.)

In addition to mergers and acquisitions, Keyes has remained a top competitor by offering the industry’s slate of services – mortgage, title, property management and insurance — said Keyes’ owner, Mike Pappas. The brokerage purchased Illustrated Properties about a year ago, propelling Keyes right to the top of TRD’s ranking of firms in Palm Beach County.

The industrywide trend toward ever-increasing commission splits is what made Keyes start gobbling up smaller brokerages over 15 years ago, Pappas said, going on to explain that “100 percent companies” like Premier Estate have thousands of agents and have stripped out all of the components of a branch, offering full or nearly full commissions with basic services and flat fees. “The admin staff and rent is minimal. They’re attracting the lower producers,” he said.

But the firms that continue growing via acquisition don’t pose any kind of threat to local firms, EWM’s Shuffield said: “Unless UPS is going to start shipping houses, you’re still going to need some people.

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The Ritz-Carlton Residences, Sunny Isles Beach Releases Exclusive Drone Footage Showcasing Sleek Arquitectonica Design

The Ritz-Carlton Residences, Sunny Isles Beach has released exclusive drone footage showcasing the progress of the tower’s construction and highlighting its unique Arquitectonica-designed shape. The luxury condo-tower, which is under development by Fortune International Group and Chateau Group and was designed by Arquitectonica with interiors by Michele Bönan. The Ritz-Carlton Residences, Sunny Isles Beach will rise 52-stories and feature 212 residential condo units. Units start at $2.5 million and include Caesarstone Quartz countertops and Gaggenau appliances. Amenities include a beachfront restaurant, concierge, personal chef service, fuel-delivery service and a private club on the 33rd floor for residents. Completion is expected in 2018.

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Why The Ritz-Carlton Residences, Sunny Isles Beach Is Perfect For Families

When looking for a new property, kids are often left out the equation. As parents, it’s important to not only make sure the area is safe for your family, but also that there is something for everyone to enjoy. After checking the boxes, like making sure the schools are good, we don’t think about what is available for the kids to enjoy.

Now, there is a place made with kids in mind. If you have a family or looking to start one in the future, The Ritz-Carlton Residences has the answer to that. In 2019, their new development will be coming to Sunny Isles Beach, FL that is sure to be family-friendly.

The Kids Club will be tailored with children in mind and will have indoor and outdoor play facilities, a game room along with arts and crafts classes. There will also be physical activities, beach and pool care and meal plans. The program will ensure that children have many daily activities, especially ones that let them experience everything Sunny Isles Beach has to offer.

Fortune International Group and Château Group, who are joint developers of the 52-story development, have revealed new renderings of the Kids Club, which will be exclusive to residents. “Appreciating the needs of today’s luxury buyer, and understanding that parents want their children to feel as though they are an integral part of a community, we want to ensure that the day-to-day living experiences of our young families are maximized,” said Manuel Grosskopf, CEO of Château Group. “This project will be one of the few of its kind in South Florida that puts such an added emphasis on catering to those essentials.”.

The Ritz-Carlton Residences, Sunny Isles Beach features designs by Arquitectonica with interiors by Florentine architect Michele Bönan. Constructed with families in mind, spacious floor plans in the 212-unit building will have Atlantic Ocean, city and intracoastal waterway views. Ceiling heights will be 10 feet in the homes and 13 feet in the penthouses, while oversized terraces with private pools will be offered in select residences. Italian-design kitchens will be filled with Caesarstone quartz countertops and Gaggenau appliances. Some features of each residence are walk-in closets, laundry rooms with full-size washers and dryers, smart home technology and pre-wiring for high-speed internet access and Wi-Fi. The Penthouses include garden terraces spanning 2,000 sq. ft. – 4,000 sq. ft., private pools, outdoor kitchens, custom-designed Italian cabinetry and master suites with separate service quarters.

“It’s a rarity for a high-end condominium tower to offer such in-depth, multi-layered programming specifically geared toward children, and we are thrilled to be bringing this type of luxury service to our buyers through the construction of this project,” said Edgardo Defortuna, CEO of Fortune International Group. “It’s indicative of the kind world-class service we have planned for this luxury residential project.”

In addition to the Kids Club, the building will include a private club level on the 33rd floor, beachside restaurant, pool deck, spa, fitness center and wellness center, along with more luxurious amenities. Residences range from $2.5 million to $5.2 million, with penthouses starting at $25 million.

So families, if you want to be in the Miami area, but not directly in the city, this may be the place for you.

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Lujo en Miami, The Ritz Carlton Residences Sunny Isles

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Si Quieres Una Casa De Diseño, Vete A Miami

Dubái, Beijing y Londres. Tres ciudades que están llamadas a convertirse en pura moda. Y desde dentro. Los conjuntos residenciales son obra de arquitectos modernistas que crean, cada vez, edificios más impresionantes; mientras el interior se deja en manos de los que saben: los directores creativos de las firmas fashion más lujosas. Y, de momento, Miami mantiene su reinado como la ciudad donde conseguir una casa que sea, literalmente, tendencia.

Con permiso de los decoradores, son los diseñadores de moda quienes están llamados a convertir un simple apartamento en “el apartamento”. Firmas como Calvin Klein, Tommy Hilfiger o Gianni Versace llegaron a la ciudad norteamericana hace ya varios años; mientras que otras como Fendi, Armani o Missoni no han dudado en sumarse a este boom inmobiliario. Casas de moda que han firmado con su nombre torres residenciales de súper lujo y en las que fashionistas de todo el mundo se dejan millones de dólares.

GIORGIO ARMANI, LA NUEVA INCORPORACIÓN

El último en llegar a la ciudad ha sido Armani. En las tranquilas playas de Sunny Isles Beach, el diseñador italiano ha colaborado en el diseño de más de 300 apartamentos con precios que van desde los 2 a los 15 millones de dólares cada uno. Un proyecto que no se completará hasta 2019, pero que ya ha vendido el 72% de sus inmuebles.

Gil Dezer, desarrollador del proyecto en Dezer Development y que ya ha trabajado con Donald Trump en varios de sus edificios, aseguraba a WWD hace apenas unos meses que, tras arduas negociaciones con la casa italiana, consiguió la licencia para ello. “Estaba en Dubái cuando me alojé en el Armani Hotel y pensé: esto es increíble, tengo que traerlo a Estados Unidos”. Un trabajo en el que Giorgio Armani ha querido estar presente en todo momento, teniendo el control completo del diseño del interior del edificio que ha seguido de forma personal.

FENDI, SU PRIMERA INCURSIÓN INMOBILIARIA

Para la casa italiana, el edificio de doce pisos localizado al sur de Bal Harbour ha sido su primer paso en el mundo del real estate. Un total de 58 residencias bajo el nombre de Château Residences, con vistas al océano y unos precios que oscilan entre los 5 y los 22 millones de dólares. Un proyecto que finalizaba el año pasado y cuyos apartamentos han sido adquiridos –solo quedan cuatro- por auténticos amantes de la firma. Algunos, incluso, fueron regalados por maridos multimillonarios a sus esposas. Los más exclusivos cuentan con spa, chef privado, cine y habitaciones dedicadas para los niños.

MISSONI BAIA, UN COMPLEJO PARA 2020

La colaboración entre la marca italiana y OKO Group, propiedad del billonario ruso Vladislav Doronin, llegará a Biscayne Bay durante el verano de 2020. Con residencias que oscilarán entre los 500.000 y los 3,5 millones de dólares, estará decorado (en sus zonas comunes) con los coloridos estampados de la firma; mientras que quienes quieran llevar su originalidad al interior de su apartamento deberán abonar el coste adicional.

Y es que los diseñadores ya no se conforman con las típicas colecciones para el hogar, como es el caso de las últimas colecciones creadas por Gucci para alegrar tu hogar (y que prometen convertirse en la sensación de la temporada) o las divertidas opciones que ofrece Jeremy Scott. Ni siquiera, con erigir sus propios hoteles y restaurantes; ahora también aceptan el reto de firmar el interior de los edificios residenciales más lujosos del momento. Como ya hizo Karl Lagerfeld, con el lobby de las lujosas torres de Sunshine City, con 245 apartamentos, que abrió el camino a estos nuevos vecinos de Miami.

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Around the state Miami-Dade

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Presentación de “Missoni Baia Miami Residences

La noche del 22 de agosto será imborrable: una velada parisina, elegante y discreta. ¿El anfitrión de la noche? Un cordobés nacido en Buenos Aires, un emprendedor voluntarioso y un hombre de confianza: Edgardo Defortuna, Presidente y fundador de Fortune International.

¿Qué se presentaba? Missoni Baia Miami Residences, un condominio de 249 residencias ubicadas en East Edgewater, Miami. Con un diseño visionario, una vista despampanante y una destreza innovadora, Missoni reúne características de exclusividad, lujo y simpleza a la vez. La legendaria casa de modas italiana decidió condensar su sensibilidad a través de esta pieza arquitectónica: Missoni Baia.

A las 19:30hs “La Mansión” del Four Seasons abrió sus puertas e invitó a personalidades destacadas de la talla de Hugo Pulenta, Presidente de Porsche Argentina, Fabián Zitta, diseñador de alta costura, y el cirujano de renombre, Alejandro Druetto. “En Miami hemos crecido como ciudad y somos una de las principales capitales del mundo. Venir a Argentina a presentar productos como Missoni me enorgullece”, aseveró Edgardo Defortuna. “Este proyecto es el que considero de mayor valor en Miami porque el área donde está localizado es un área en la que se puede comprar algo por la mitad del valor de lo que uno puede acceder en Miami Beach”, aseguró Edgardo.

Aún hay muchas unidades disponibles y hay muy buenas posibilidades para poder elegir las mejores residencias. Mientras se brindaba con champagne de la mejor calidad, los invitados disfrutaron de la música de los tenores Claudia Menkarsky y Gabriel Centeno, cantantes líricos del Teatro Colón. Además, mientras se tomaban decisiones sobre posibles inversiones y se deliberaba sobre aspectos económicos, André Fontana escoltaba el encuentro con las melodías de su piano.

“Todos deberían tener la posibilidad de ir a Miami porque lo que está ocurriendo en esa ciudad es digno de ser visto y digno de disfrutar”, manifestó Walter Ramírez Moyano, empresario argentino y diplomado en Marketing en la Universidad de Belgrano. “Lo más lindo de Miami es volver porque es un paraíso. Los invito a aprovechar de todas las posibilidades de inversión que hay y los espero para mostrarles las residencias en Estados Unidos”, concluyó Edgardo Defortuna.

Fortune International Group es uno de los principales referentes y protagonistas del Real Estate, no solo de Florida sino de todo Estados Unidos, con 18 oficinas y más de 1000 brokers. La firma, encabezada por Edgardo Defortuna, celebró un evento radiante en Buenos Aires y te espera en Miami, ¿qué esperás para aceptar la invitación?

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NHL’s Jacob Trouba joins Dan Marino as celeb buyers at Auberge Fort Lauderdale

Rising young hockey professional Jacob Trouba, a former first-round pick who currently plays for the NHL’s Winnipeg Jets, has joined Miami Dolphins legend Dan Marino as celebrity buyers at the upcoming Auberge Beach Residences & Spa Fort Lauderdale.

Trouba purchased a $1.4 million unit at the beachfront condominium rising at 2200 North Ocean Boulevard. A collaboration between The Related Group, Fortune International Group and the Fairwinds Group, the project’s 17-story North tower topped off recently and is expected to be completed in 2018. The North Tower has two remaining units while the South Tower is over 60 percent sold.

The 23-year-old’s residence will be in the South Tower, overlooking the ocean. It has one bedroom, two bathrooms, and a den.

In July, the penthouse at Auberge sold for $9.5 million ($1,670 per square foot), a record sale for a condo in the area. Building amenities include a spa, a restaurant, a Napa Valley Wine Cellar, a fitness center, a Golf golf simulator, a children’s playroom, and a club room with multimedia facilities, billiards and gaming tables.

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Winnipeg Jets’ Jacob Trouba pays $1.4M for Auberge Fort Lauderdale condo

Winnipeg Jets’ Jacob Trouba just bought a preconstruction condo in Fort Lauderdale’s Auberge Beach Residences and Spa for $1.4 million, according to a release.

At the age of 18, Trouba was drafted by the Winnipeg Jets in the first round of the 2012 National Hockey League Entry Draft. Since then, he has had a successful career playing in over 270 games, assisting in 74 and scoring 31 goals, as well as representing Team USA.

His future 1,355-square-foot condo traded for about $1,030 per square foot. The one-bedroom, two-bathroom unit is located at the south tower of the planned 171-unit, two-tower development at 2200 North Ocean Boulevard.
Auberge, developed by Related Group, Fortune International Group and The Fairwinds Group, is expected to open by early 2018. Construction on the project began in 2015.

Trouba’s new home will feature a gourmet kitchen with Italian cabinetry and stone countertops as well as views of the Atlantic Ocean. Shared amenities at Auberge will include two restaurants, a spa, oceanfront swimming pools, a golf simulator and a gym. New York-based interior design firm Meyer Davis created the design.

Last month, the nearly completed development saw one of Broward’s priciest condo sales. An unidentified buyer agreed to pay a record $9.5 million for a penthouse at the project. Former Miami Dolphins quarterback Dan Marino is also a future resident.

Florida Panthers’ Aaron Ekblad is another NHL hockey player to call Broward County home. Last month the Canadian ice hockey player bought a three-story house in Fort Lauderdale’s Las Olas Isles for $5.7 million.

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Hockey pro ices deal for hot Fort Lauderdale home

NHL defenseman Jacob Trouba, of the Winnipeg Jets, bought a unit at the Fort Lauderdale, Fla., Auberge Beach Residences & Spa, developed by The Related Group, Fortune International Group and the Fairwinds Group.

Michigan-born Trouba, 23, bought a one-bedroom, two-bathroom unit for $1.4 million.

The 1,355-square-foot home features a chef’s kitchen and views of the Atlantic Ocean.

Building amenities include a spa, restaurants, a wine room, a cigar lounge and a club/screening room with billiards and gaming tables.

Trouba will reside there when he’s not on the road during the ice hockey season.`

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Se presenta nuevo emprendimiento inmobiliario de lujo en Miami

Se trata de Missoni Baia Miami, presentado por Edgardo Defortuna, presidente y fundador de Fortune International.

Un nuevo emprendimiento inmobiliario sorprende en Miami. El pasado 22 de agosto se presentó “Missoni Baia Miami Residences”, un condominio de 249 residencias ubicadas en East Edgewater. Con un diseño visionario, una vista despampanante y una destreza innovadora, Missoni reúne características de exclusividad, lujo y simpleza a la vez.
El anfitrión de la presentación fue un cordobés nacido en Buenos Aires, un emprendedor voluntarioso y un hombre de confianza: Edgardo Defortuna, Presidente y fundador de Fortune International.

Cómo fue la velada

A las 19.30 “La Mansión” del Four Seasons abrió sus puertas e invitó a personalidades destacadas de la talla de Hugo Pulenta, Presidente de Porsche Argentina, Fabián Zitta, diseñador de alta costura, y el cirujano de renombre, Alejandro Druetto. “En Miami hemos crecido como ciudad y somos una de las principales capitales del mundo. Venir a Argentina a presentar productos como Missoni me enorgullece”, aseveró Edgardo Defortuna. “Este proyecto es el que considero de mayor valor en Miami porque el área donde está localizado es un área en la que se puede comprar algo por la mitad del valor de lo que uno puede acceder en Miami Beach”, aseguró Edgardo.

Aún hay muchas unidades disponibles y hay muy buenas posibilidades para poder elegir las mejores residencias. Mientras se brindaba con champagne de la mejor calidad, los invitados disfrutaron de la música de los tenores Claudia Menkarsky y Gabriel Centeno, cantantes líricos
del Teatro Colón. Además, mientras se tomaban decisiones sobre posibles inversiones y se deliberaba sobre aspectos económicos, André Fontana escoltaba el encuentro con las melodías de su piano.

“Todos deberían tener la posibilidad de ir a Miami porque lo que está ocurriendo en esa ciudad es digno de ser visto y digno de disfrutar”, manifestó Walter Ramírez Moyano, empresario argentino y diplomado en Marketing en la Universidad de Belgrano. “Lo más lindo de Miami es volver porque es un paraíso. Los invito a aprovechar de todas las posibilidades de inversión que hay y los espero para mostrarles las residencias en Estados Unidos”, concluyó Edgardo Defortuna.

Fortune International Group es uno de los principales referentes y protagonistas del Real Estate, no solo de Florida sino de todo Estados Unidos, con 18 oficinas y más de 1000 brokers.

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Casas De Moda Dan Un Paso Hacia La Arquitectura

Más allá de sus colecciones de ropa y accesorios de lujo, las marcas de moda ahora han decidido innovar en otros campos como la arquitectura y el diseño de interiores. Muchas marcas como Fendi, Del Pozo, Armani, Chloé y Phillip Lim han inspirado sus diseños en piezas arquitectónicas, sin embargo, la tendencia actual consiste en desarrollar proyectos residenciales en las mejores ciudades del mundo. Estos proyectos además de ser innovadores, representan una nueva oportunidad de inversión para todos los interesados en el mercado de lujo.

Missoni, la icónica casa de moda italiana, es una de las primeras en ser parte de esta tendencia con su proyecto Missoni Baia, el cual tiene lugar en Miami.

El Grupo OKO, la compañía de desarrollo urbanístico con sede en Miami fundada por el magnate inmobiliario y hotelero internacional Vladislav Doronin, reveló detalles sobre Missoni Baia, su torre de condominios de lujo de 57 pisos, que se eleva a lo largo de 200 pies de frente en la Bahía de Biscayne.

Missoni Baia es la primera residencia de la marca Missoni, la icónica casa de moda y diseño de lujo fundada en 1953. Enfocada en el mantenimiento del patrimonio artesanal de Missoni, la integración experta de estilo, artesanía e ingeniería, hacen de la experiencia residencial un proyecto de calidad incomparable y presenta al público de clase mundial una edificación impactante, que sobresale con una presencia imponente tanto en el horizonte de la ciudad como en el paisaje de la línea costera.

La torre de 649 pies de altura, situada en el 777 N.E. 26th Terrace, directamente frente al agua, consta de 249 residencias elegantemente diseñadas, cada una con vista al mar, que ofrecen entre uno y cinco dormitorios, en un área que va entre los 72 a 352 metros cuadrados.

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HOTTEST SOUTH FLORIDA PROPERTIES

As summer comes to a close, Hamptonites can ward off the cold a little longer by jetting off to one of the most popular (and year-round) warm weather locales: South Florida. Check out some of South Florida’s hottest residences below:
Located in the heart of Downtown Miami, One Thousand Museum by Zaha Hadid Architects is the first and final residence in the Western Hemisphere by Pritzker Prize-winning architect, Zaha Hadid. Overlooking Museum Park and Biscayne Bay, One Thousand Museum is a few steps away from Miami’s famed cultural hotspots including the Pérez Art Museum Miami and Patricia and Phillip Frost Museum of Science. With a two-story health spa, an aquatic center and the city’s only private rooftop helipad, this skyscraper is next-level luxurious.

Adjacent to Downtown, Brickell, a bustling Miami neighborhood, is home to Brickell Heights, a two-tower condo complete with a SoulCycle studio, Equinox fitness club, 4 pools, tanning deck and a media center. A colorful mural by Argentinean artist Fabian Burgos surrounds the parking podium and decorate Miami’s skyline. Also situated in Brickell, is SLS LUX Brickell Hotel & Residences, the second evolution and a more elevated series from the award-winning SLS Hotels and Residences brand.

Nestled between Miami’s Design District and Wynwood, an artsy neighborhood known for its hip bars and galleries, Hyde Midtown Suites and Residences is designed with tech-savvy, culturally fluent young professionals in mind. In addition to close proximity to some of Miami’s favorite restaurants, Hyde Midtown residents can enjoy signature cuisine by sbe’s renowned restaurant group. Additional perks include poolside cabanas and VIP access to Hyde Beach Club & Lounges at SLS Hotel South Beach.

Neighboring Midtown, The Paraiso District, built in the up-and-coming Edgewater neighborhood, will feature four luxury towers. It has already attracted a slew of celebrities and athletes like DJ/producer David Guetta, NY Yankees designated hitter Alex “A-Rod” Rodriguez, four time NBA champ Manu Ginobli, and World #1 tennis player Aranxta Sanchez-Vicario. Italian superstar Piero Lissoni will design ONE Paraiso and GranParaiso, Karim Rashid will design Paraiso Bayviews and Keith Hobbs will design Paraiso Bay.

Miami’s Fisher Island is an ultra-exclusive hideaway, similar to the Hamptons. The 216-acre private island community features an extensive roster of amenities including tennis center, championship golf course, marinas, spa, various dining venues and white-sand beaches. The island recently delivered Palazzo Del Sol, giving homeowners a refreshed version of private island living that includes poolside cabanas, private massage rooms and six-star services.
Down the street from the ferry terminal lies South of Fifth, a quiet tree-lined neighborhood just walking distance to some of the city’s best restaurants and the beach. Louver House, a boutique property, is nestled in the Miami Beach neighborhood and has recently completed. The move-in ready building was inspired by natural landscapes and tropical vegetation. Architect Rene Gonzalez designed spacious and open floorplans with lush gardens and oversized private terraces.

Park Grove features three exclusive towers designed by renowned architecture firm OMA/Rem Koolhaas in Miami’s Coconut Grove community. Developed by Terra and The Related Group, the residences will feature custom kitchens and baths designed by William Sofield and floor-to-ceiling windows offering sweeping views of the Grove Harbour Marina and Biscayne Bay. Luxury amenities include a wine tasting room, nautical concierge, outdoor theatre, art gallery and sculpture garden.

Just north of Miami in Fort Lauderdale, Auberge Beach Residences and Spa Fort Lauderdale will bring an incomparable luxury to the city. Complete with sweeping ocean views and Auberge Resort Collection’s famous, world-class spa, residents are sure to find ultimate relaxation in Fort Lauderdale’s only on-the-sand residence. Hyde Beach House, another hotel and residence going vertical in Fort Lauderdale, will give residents the VIP experience with exclusive access to Hyde Beach Club, a private Aqua Club and expansive pool deck.

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Tendencia pensando en los mas pequenos de la casa

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Missoni Baia Miami: hábitat iridiscente

El universo de colores y líneas de la reconocida marca italiana también será un referente arquitectónico de la Bahía de Biscayne

Con 57 pisos distribuidos en un aproximado de 200 pies de altura, Missoni Baia custodiará la costa de Biscayne con un poderoso tesoro en su interior: el legado artesanal y creativo que Ottavio y Rosita Missoni imprimieron a la marca desde su creación en 1953. La colorida paleta de la casa de moda será la principal protagonista distribuida en varios espacios y en varias piezas de la colección Missoni Home. Con las comodidades de un resort de lujo, sus residentes habitarán en la privacidad pero con la libertad suficiente como para disfrutar de un spa, canchas tenis elevadas, amplios gimnasios o de un día de sol en cualquiera de sus piscinas, una de ellas con vista infinita a la bahía.

Cada una de las 249 residencias –entre las que cuentan tres dúplex y dos penthouses– cuenta con increíbles vistas de la ciudad y del Océano Atlántico en fusión con diseños exclusivos de la marca divinamente curados por Paris Forino, quien dispuso fondos neutros para resaltar mucho más las piezas de mobiliario y arte bajo la dirección de Ángela Missoni, directora creativa de la marca; OKO Group, compañía de desarrollo urbanístico fundada por Vladislav Doronin y Edgardo De Fortuna de Fortune Group.

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The Ritz-Carlton Residences, Lujo Entre El Mar Y Bal Harbour

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Missoni propone una arquitectura a la moda

La fama de la reconocida casa de moda italiana se afirma en sus diseños de punto de gran colorido, que ha seducido, desde 1953, a varias generaciones. Hoy presenta la primera residencia de la marca Missoni de 57 pisos frente al mar, que será el nuevo referente paisajístico de la Bahía de Biscayne.

Como muchas marcas de lujo y moda, tales como Fendi, Armani, Chloé y Phillip Lim, la firma italiana ha decidido innovar en otros campos, y eligió el mundo de la arquitectura y el diseño de interiores. Como parte de la tendencia actual, Missoni ha preferido desarrollar proyectos residenciales en las mejores ciudades del mundo.

Missoni Baia, su primera residencia, está enfocada en el mantenimiento del patrimonio artesanal de Missoni. La integración experta de estilo, artesanía e ingeniería hacen de la experiencia residencial, un proyecto de calidad incomparable y presenta al público de clase mundial una edificación impactante, que sobresale con una presencia imponente, tanto en el horizonte de la ciudad como en el paisaje de la línea costera.

El diseño interior del edificio incorpora tanto la colorida paleta de diseño de Missoni como la colección de mobiliario Missoni Home, en formas muy creativas, incluyendo todos los espacios y áreas públicas del edificio. Los residentes tienen acceso a un conjunto completo de espacios con estilo diseñados en colaboración con Missoni, que ofrecen las comodidades de un lujoso resort en un entorno residencial privado. Las características incluyen una cubierta sobre el agua, diseñada para tomar el sol todo el día, con cabañas bien equipadas; cinco piscinas diferentes, incluyendo una olímpica, piscinas de inmersión caliente y fría, una piscina para niños y una piscina infinita con vista a la bahía; cancha de tenis elevadas y un amplio gimnasio y spa, también con vista a la bahía.

Muchas de las 249 residencias ofrecen diseños de piso por nivel con múltiples vistas a la ciudad, la bahía, Miami Beach y el horizonte del Océano Atlántico. La edificación cuenta con tres espectaculares residencias dúplex con amplias terrazas privadas cerca del borde del agua, y dos penthouse equipados con piscinas con vista a la bahía y ventanales completos de cielo abierto. La diseñadora de interiores Paris Forino ha ideado fondos neutros, pero lujosos, para permitir la conjugación de una amplia gama de mobiliario y arte.

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Design vision for Auberge Beach Residences & Spa

Internationally acclaimed design team, curated contemporary art collection will set the stage for the ultimate coastal lifestyle

Fort Lauderdale, Fla. — Unparalleled luxury residences and world-class lifestyle amenities are on the horizon on Florida’s Gold Coast, courtesy of Auberge Beach Residences & Spa Fort Lauderdale, the most refined high-rise and only on-the-sand luxury residential offering on Fort Lauderdale Beach. The veteran development team—The Related Group, Fortune International Group and The Fairwinds Group—personally selected esteemed New York-based interior design firm Meyer Davis Studio, Inc. to envision a setting that will complement Auberge Resorts Collection’s signature authentic luxury.

Meyer Davis, whose award-winning portfolio includes 1 Hotel South Beach, W Chicago Lakeshore, and Paramount Hotel in New York City, believes that great design works on multiple levels, weaving together bold design moves with striking details to create both immediate impact and lasting memory. The firm’s one-of-a-kind concept for the recently announced 171-residence beachfront condominium property celebrates honest, natural materials that are elevated by refined and unexpected applications. Interiors will be infused with a sense of understated luxury and sanctuary that complements the singular natural setting with a feeling of lightness and effortless elegance.

“Auberge Beach Residences is located on one of the most beautiful stretches of coastline in South Florida,” said Will Meyer, principal of Meyer Davis Studio, Inc., along with Gray Davis. “The site’s serenity and calm environs informed our design direction—from palette to material choices. It is an honor to work with Related, Fortune and Fairwinds to create a landmark community that creates a sense of place unique to the destination and takes cues from the graceful style of Auberge Resorts, whose properties are acclaimed for their timelessness and intimate, understated elegance.”

Two iconic glazed structures, designed by internationally recognized architecture firm Nichols, Brosch, Wurst, Wolf & Associates, will rise above the Atlantic Ocean. The sleek, organic façades will be a departure from both coastal contemporary and traditional designs, striking a balance between natural forms and luxury rooted in a restrained sophistication and orienting each residence to capture sweeping ocean views. Set on 450 linear feet of pristine beachfront, the design blurs the boundaries between interior spaces and the exquisite environs beyond through the use of tones and textures lent from the location itself.

Auberge Beach Residences will welcome residents with a sense of community rooted in a casual, yet refined urban beach retreat. The light-filled lobby will feature sophisticated, relaxed seating groups arranged to spark conversation and interaction among residents. Bright, neutral tones and natural wood finishes will provide a gallery-like environ to showcase the museum-quality contemporary art collection that will be installed throughout the property. The cornerstone of the collection is La Maternidad, a monumental bronze sculpture by celebrated contemporary master Fernando Botero.

“Original works of art will infuse Auberge Beach Residences & Spa with energy and sophistication,” said Jorge M. Pérez, Founder, Chairman and CEO of The Related Group. “Artist Fernando Botero is among the most renowned artists of his generation. The introduction of his La Maternidad sculpture to the property’s permanent collection signifies our commitment to introduce an unmatched luxury lifestyle and cultural experience to Fort Lauderdale.”

The interior design of each residence, ranging in size from 1,500 to 5,000 square feet, will reflect Auberge Beach Residences’ signature style of relaxed coastal elegance. Flow-through contemporary floor plans will feature nearly 10-foot floor-to-ceiling windows for a seamless indoor/outdoor experience. Continuous glass railings will enclose oversized terraces, some boasting private pools, for unobstructed city and ocean views. Paying homage to Auberge’s culinary legacy, Meyer Davis designed the living spaces around a spacious contemporary chef’s kitchen at the heart of each home.

The open, flexible design of the beachfront Auberge restaurant will showcase unsurpassed views of the Atlantic Ocean’s eternal blue tones to meld the indoors with the pristine shoreline beyond. Meyer Davis has become the foremost design firm for the world’s most prominent restaurateurs and celebrity chefs, with their work receiving accolades in design competitions and the press. “This site has a long history as a dining destination in the days of the Ireland’s Inn,” said Meyer. “Auberge is renowned for exceptional culinary offerings, and the new restaurant is poised to become an unrivalled dining experience. The spectacular outdoor bar and veranda will be one of South Florida’s most breathtaking dining destinations.” The flexible design will cater to year-round dining, accommodating large and intimate gatherings from sunup to sundown and deep into the night. At the center of the restaurant’s design are casually elegant indoor/outdoor seating arrangements and an expansive outdoor bar, which are designed to enhance the beachside setting and signature restaurant’s lively American bistro concept. The restaurant will feature unique dining experiences created by highly skilled chefs using the finest ingredients.

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The New Home of Style? Miami’s Residential Fashion Boom

Designers have long been drawn to Miami, with Gianni Versace, Calvin Klein and Tommy Hilfiger all having owned homes there over the years.

But today, the Miami real estate market is hotter than ever among the fashion set — especially in a business sense. Fendi, Armani and Missoni are plastering their names on superluxury residential towers springing up across the city after having dabbled in the hotel world. Meanwhile, hard-core fashion followers (or in some cases their generous spouses looking for an original gift) appear willing to drop millions of dollars on apartments in the designer-branded buildings.

Setting the trend is Armani, which has partnered with developers Dezer Development and The Related Group on Residences by Armani/Casa in Sunny Isles Beach. The 56-story César Pelli-designed building, comprising 308 apartments priced between $2 million and $15 million each, isn’t due for completion until 2019, but already 72 percent of the apartments have been sold.

Gil Dezer of Dezer Development is no stranger to branded buildings, having worked on six with Donald Trump (before he became President, of course). He recently completed the Porsche Tower in Miami, the world’s first condominiums to have elevators that take residents directly to their apartments while sitting in their cars. “I was in Dubai when I stayed at the Armani Hotel and I said, ‘This is wow. We need to bring this to America,’” he said.

However, he admitted that it was a challenge to convince the famed Italian fashion house to take part. “It was not easy. They do their homework very well. We can do more damage than good as Armani is doing $9 billion a year in sales. They don’t need the few bucks that I’m going to give them. This is more about that they want to have a real strong presence and it helps their brand and it also helps sell [their] furniture.”

Dezer finally succeeded in persuading the Italian company to license their brand to him and today Armani is designing all the communal areas and for an additional cost to the buyer can also offer interior design, at about $300 a square foot. For the largest apartments, that works out at just over $1 million.

Armani has complete control of the interior design of the wider building, with Dezer admitting he has had to become “opinionless” on it. And, as with everything his company does, Giorgio Armani is personally involved. “He’s actually very involved, which is good and bad,” admitted Dezer. “It’s good because we get his stamp of approval, so we really know it’s an Armani thing and not just slapping a brand on. But we have to wait for him to get off his boat to approve something and we have to wait for him to fly here and fly there. Even if we need to approve an ad, he approves everything.”

Three blocks south of Bal Harbour, Fendi Château Residences, a 12-story, 58-unit boutique building, has attracted a range of buyers since it was completed last year (only four apartments are left), including some devoted Fendi shoppers. “We have some buyers that are truly, truly Fendi lovers who normally furnish everything Fendi. We had somebody who purchased a unit for his wife as a gift for their anniversary and he designed everything in Fendi because she loves the brand,” said Helen Ashford of the Château Group, the developer.

At $6.5 million for a three-bedroom apartment, these pads — which come with a use of a communal indoor spa, private chef, cinema and children’s room — have the highest starting prices of all the fashion-branded residences in Miami, with a penthouse setting buyers back as much as $25 million.

Meanwhile at the budget end of the market (if one can call half-a-million dollars budget), is Missoni Baia, a partnership between the Italian fashion family and OKO Group, the Miami-based property development firm founded by Russian billionaire real estate mogul Vladislav Doronin, in the up-and-coming Edgewater neighborhood.

Prices at the 57-story, 249-unit building overlooking Biscayne Bay, which is yet to break ground but is due for completion in the summer of 2020, range from $500,000 to $3.5 million. When it is ready, the communal areas will be decked out in Missoni’s trademark colorful designs, while residents will have access to five pools. Like Armani and Fendi, Missoni will decorate apartments at an additional cost.

And finally, also jumping in on the trend to join the apartment fray in Sunshine City is Karl Lagerfeld. The couturier has designed a lobby in The Estates at Acqualina, twin, 50-story luxury towers with 245 units that come complete with an ice rink and traders’ room where apartments cost between $4 million and $9 million.

Much like Armani, Lagerfeld has complete design control and is very hands-on. “The guy is legendary. He has come up with enormous creative solutions for our lobbies. Everything in the lobby will be his touch,” said South African-born developer Jules Trump of The Trump Group (no relation to the President). “Karl’s aesthetic, in particular, will be appreciated and valued by our guests, who desire an incomparable level of opulence, luxury, design and style.”

Why Miami?

Dubai, Beijing and London are among other cities that are home — or soon will be — to residential buildings with interiors designed by famous fashion houses. But Miami is at the heart of this booming trend, partly a result of slowing luxury residential sales and political and economic uncertainty. Combined, these trends have made competition tougher and Miami developers more determined than ever to make their projects stand out.

“I see it as a way that developers are trying to differentiate themselves among all the competition in new development. Before this, it was cars with the Porsche Tower and the Aston Martin Residences and then the use of ‘star-chitects’ and famous interior designers,” said Jonathan Miller, chief executive officer of appraisal firm Miller Samuel.

“It’s not enough to say that I have the most beautiful building, the best views or the most welcoming lobby. They have to differentiate and they have to go to another level. We haven’t seen much of that in other U.S. markets. If it proves to be an effective branding mechanism, we will absolutely see it elsewhere.”

Yet its effectiveness is still uncertain. While sales figures seem healthy (not all buildings have released data), satisfaction levels remain to be seen — and won’t be until the new owners have settled in.

Jay Parker, ceo of Douglas Elliman Real Estate Florida, said while Armani, Fendi and Missoni are recognizable and influential brands synonymous with luxury, what remains unclear is whether the quality of the fashion houses’ products will carry over into all aspects of the residential developments from the food to service.

“When people buy in Ritz-Carlton, the level of service is established. We don’t know that yet with Armani or the others,” he said. “After all, fashion houses are not expected to influence the service element as much as the design element.”

As for why these big fashion houses want a slice of residential real estate, Robert Burke, the chairman and ceo of retail consultancy Robert Burke Associates, said one of the biggest desires of any label is to be a lifestyle brand and “this just allows them to be even more of a lifestyle brand because ultimately that’s what people are living.”

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Missoni Baia Releases Redesigned Floor Plans Based Off of Buyer Feedback

Russian real estate magnate and property developer, Vladislav Doronin, of OKO Group, the developers behind Edgewater’s Missoni Baia, has released redesigned their floorplans that they tailored based off of buyer feedback. After tapping Fortune International Group in the spring (2017) to take over sales of Missoni Baia following a successful pre-sales campaign, the Missoni Baia sales team has been busy hosting events in the Hamptons and south of the border in Colombia, Chile, and Argentina while they gear up for a September groundbreaking. The project is the first to be branded by the Italian fashion house. Missoni’s home collection and signature design palettes will be used throughout the building’s public spaces and amenities. Asymptote Architecture and Revuelta Architecture will design the project, along with landscaping by Swiss architect Enzo Enea and interiors by Paris Forino Design.

“Domestic and foreign buyers looking to purchase second or third homes in Miami, their primary residence is generally a larger home so when they come on vacation they still want the high level of quality, services, and amenities that the Missoni Baia brand offers but prefer to have a smaller size residents to simplify their overall vacation experience. The introduction of the smaller floorplans has proven to be successful with our recent sales,” said Jim Cohen, Senior Vice President of Development Sales, Fortune International Group.

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Auberge Beach Residences and Spa Sells Penthouse at a Record-Breaking $9.5 Million

The final penthouse residence at Auberge Beach Residences and Spa in Fort Lauderdale has sold with a record-breaking price tag at $9.5 million. The two-story, five-bedroom, six-and-a-half bathroom penthouse boasts 5,686 square feet, equaling $1,670 per square foot, the highest price per square foot ever sold in Fort Lauderdale and Broward County.

With more than 3,700 square feet of outdoor space, the penthouse will have a balcony wrapping around three sides of the unit, as well as floor-to-ceiling windows which showcase panoramic views of the Atlantic coastline, and a spiral staircase leading to the private rooftop terrace and pool. Residents will have access to first-class amenities including two gourmet restaurants, a world-class spa, a wine cellar, oceanfront swimming pools, the world’s best aboutGolf simulator, a state-of-the-art fitness center, among others.

Auberge Beach Residences has seen $75 million in purchases in the first half of 2017 alone. The North Tower, which was topped off last month, is expected to be complete in late 2017, with only three residences remaining. The South Tower is over 60 percent sold and is set to open in Spring 2018.

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Quique Usales Visits Missoni Bai

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KDHAMPTONS REAL ESTATE: THE NEW RITZ-CARLTON RESIDENCES, SUNNY ISLES BEACH HAS HAMPTONITES HEADING FOR MIAMI

New Yorkers have always invested in Miami real estate, and in recent years there has been a fast growing number of Hamptonites specifically who are migrating south for an extended off-season. With the power of new world class developments like the Ritz-Carlton Residences, Sunny Isles Beach it’s no surprise that many East Enders are trading in their snow boots and choosing to maintain an oceanfront lifestyle year round. With a quick and easy two and a half hour flight, multiple private airports, and a new level of buildings, service, art, dining, shopping….Miami checks every box!

The Ritz-Carlton is synonymous with unparalleled service and unrivaled excellence. Renowned developers Fortune International Group and Château Group aim to transform oceanfront living with this stunning new property which begins with a winding drive, facing the ocean, leading up to the stunning 649 ft. residential tower, comprised of 212 residences and managed by The Ritz-Carlton.

Sitting on 250 feet of oceanfront property along South Florida’s pristine Sunny Isles Beach, the building’s curvilinear structure was designed by world-class architectural firm Arquitectonica and references the organic landscape of swaying dunes. Its fluid droplet silhouette ensures all homes are bathed in natural light and respect the basic principles of Feng Shui.

Designed to provide sweeping views of the Atlantic Ocean, the tower features cascading terraces with ample 360-degree views. Penthouse gardens dissolve at its uppermost crest, creating the silhouette of an impressive yacht or cruise liner. In addition, The Residences features a grand porte-cochere and lush landscaping created by Arquitectonica GEO. A fully equipped private residential building, with no transient use or hotel on the premises means residents of the property enjoy a private elevator lobby, and select homes include service quarters.

Inspired by Monaco’s elite Yacht Club and referencing the beauty of the natural environment, Michele Bönan’s timeless interiors are a mosaic of details brought to life in a refined, neutral palette. Bönan’s unique philosophy adheres to the building’s soft curvature, introducing floor-to-ceiling glass panels and custom-designed furnishings that perfectly evoke the exclusive Sunny Isles Beach.

The Residences’ interiors epitomize a contemporary minimalist aesthetic, complemented by a vast array of exceptional materials, textiles and environmental innovations, all selected to ensure unrivaled comfort and relaxation. Relying on skilled artisans, everything from furniture to flooring has been conceived to honor the luxurious beach lifestyle.

Upon arrival, owners are greeted by a striking four-story glass lobby, overlooking a tranquil pool and manicured garden connecting to the beach. An airy double height atrium leads directly to a luxurious spa and fitness center with unobstructed views of the Atlantic Ocean. Whether intimate or grand, Bönan’s common spaces are created to enhance the experience of residents across the property.

Drawing from South Beach’s 1960s heyday, Michele Bönan’s design blends the spirit of modern day Miami with its rich architectural past. Residences boast soaring 10 ft. ceilings, and kitchens designed with the finest Italian cabinetry, stone countertops and European appliances – including a wine cooler and cappuccino maker. Expansive living spaces look onto the beach below. Master bedrooms, equipped with glass walls and enviable panoramic views, feature walk-in closets and generously appointed en suites rendered in Italian marble.

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PRIVATE HAMPTONS PREVIEW OF RITZ-CARLTON RESIDENCES, SUNNY ISLES BEACH

The Hamptons recently served as a unique backdrop for a special private preview of The Ritz-Carlton Residences, Sunny Isles Beach. Joint developers Fortune International Group and Château Group hosted an intimate cocktail at Kozu Hamptons restaurant in Southampton to showcase their project and its remaining homes to prospective buyers. Completion of the 212-residence building is slated for 2019. The condominium tower, which will have no hotel on the premises, is being touted as one of the most anticipated offerings to enter the market. While enjoying hors d’oeuvres and signature drinks, guests of the exclusive outdoor event, which took place July 16, were treated to highlights of the condominium tower, which features designs by Arquitectonica and interiors by acclaimed Florentine architect Michele Bönan. The event coincided with the developers securing registration in New York to market and sell the last available residences. For additional information about The Ritz-Carlton Residences, Sunny Isles Beach, call 305.503.5811 or visit http://www.theresidencessunnyislesbeach.com.

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Construction Update: Auberge Beach Residences & Spa Tops-Off in Fort Lauderdale

Auberge Beach Residences and Spa has officially topped-off the north tower. The north tower is almost sold out, with just 3 residences for sale remaining, and the south tower is over 60% sold. Auberge Beach Residences & Spa features 171 flow-through condominium residences spread over two towers designed by Nichols Brosch Wurst Wolfe & Associates with interiors by Meyer Davis Design Studio. Units feature private elevator access, sunrise and sunset terraces, and floor-to-ceiling glass for unobstructed ocean views. The project is being developed by PRH Fairwinds, a partnership between Related Group, Fairwinds Group and Fortune International. The building’s amenities include 2 beachfront swimming pools, full-service spa, 2 restaurants, golf simulator and a state-of-the-art fitness center. Delivery is expected in the summer of 2018.

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The Ritz-Carlton Residences, Sunny Isles Beach Unveil Sneak Preview Video Tour

Following the completion of its concrete foundation pour and subsequent vertical rise, The Ritz-Carlton Residences, Sunny Isles Beach have released new, fly-through-style, computer-generated videos of two of the building residences, offering the most in-depth, breathtaking views of these ocean-facing homes to date. The Ritz Carlton Residences, Sunny Isles Beach is being developed as a joint venture between Fortune International Group and Château Group. The luxury-residential is designed by Arquitectonica, with interiors by acclaimed Florentine architect Michele Bönan. Take the video tour of an A Unit and an E Unit below.

The A Unit (shown above) is a 3 bedroom, 4.5 bathroom residence complete with a den and a service quarters with a separate entrance. The unit features north-facing, large living spaces with floor-to-ceiling glass, a lavish master bath, and an Italian-designed kitchen outfitted with top-of-the-line Caesarstone quartz countertops and Gaggenau appliances. The E Unit (shown below) is a southeast/southwest-facing 4 bedroom, 5.5 bathroom residence complete with a family room and service quarters.

“We feel that images alone are not enough to capture the essence of what daily life will look and feel like within these incredible residences,” said Edgardo Defortuna, CEO of Fortune International Group. “A state-of-the-art video tour takes buyers one step closer toward visualizing their dream homes on the water.”

“When we started designing this project, we knew we wanted to create spaces that focused on livability and long-term use,” said Manuel Grosskopf, CEO of Château Group. “The outcome of that vision is all the more encapsulated through these new tours, each of which highlights the units’ immense sizes and artful details — all complemented by what are arguably the best views of the water.”

The Ritz Carlton Residences, Sunny Isles Beach will feature 212 residential condo units. Residences range from $2.6 million to $5.2 million, with penthouses offered upwards of $25 million. Amenities include a private club level on the 33rd floor, beach restaurant, pool deck, kids club, spa, fitness center and wellness center, among other top-line amenities. Construction has completed their foundation pour and has begun vertical rise. The building is slated for delivery in 2019.

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HAMPTONS DINNER WITH COVER STAR KAROLINA KURKOVA

On Thursday, July 13th Hamptons Magazine hosted a dinner with cover star Karolina Kurkova. The model, actress, philanthropist and mother of two joined VIP guests of the magazine at the elegant Baron’s Cove in Sag Harbor for a dinner presented by Missoni Baia and Matthew Breitenbach and featuring gourmet dishes from Baron’s Cove executive chef Matty Boudreau and signature cocktails by EFFEN Vodka.

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CULTURED IN THE HAMPTONS

On July 14, Cultured founder Sarah Harrelson and KDHamptons founder Kelli Delaney toasted the grand opening of the Ritz-Carlton Residences, Sunny Isles Beach. The celebrations at Maple Shade, Kelli’s Water Mill home, featured farm-to-table and dock-to-dish delicacies and refreshing summer cocktails by Whispering Angel Rosé.

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Snaidero USA Confirmed as Kitchen Cabinet Provider for Ritz Carlton Residences in Sunny Isles Beach, FL

LOS ANGELES, July 11, 2017 (GLOBE NEWSWIRE) — Snaidero USA, the leader in North American imports of European kitchen cabinets, is set to supply the kitchens for the 212 units of the Ritz Carlton Residences; a new Sunny Isles Beach, Miami project by Fortune International Group and Château Group.

The project – currently under construction – is the latest in a list of over 170 luxury high-rises (45,000+ units) that Snaidero USA has furnished since 1992, bringing the finest Italian design and craftsmanship all over North and Central America. Of these projects, more than 55 are in Florida.

The kitchen model chosen for the Ritz Carlton Residences is Snaidero LUX by Pietro Arosio. LUX’s minimalist aesthetic is rich in details and designed with respect for the environment – qualities that mirror the concept for the project’s interiors, designed by Michele Bönan and inspired by Monaco’s elite Yacht Club. Playing with light and clean lines, LUX creates a kitchen space that offers an intelligent blend of function, emotion, and personality.

The architecture of the Ritz Carlton Residences follows a design by world-class architectural firm Arquitectonica: the curvilinear structure references the organic landscape of swaying dunes and ensures all homes are bathed in natural light and respect the basic principles of Feng Shui.

The tower will include cascading terraces with 360-degree views and penthouse gardens dissolving at the uppermost crest, creating a yacht-like silhouette.

About Snaidero USA

Snaidero USA is the exclusive North American distributor of Snaidero kitchen cabinets, for almost 40 years, Snaidero USA has offered the finest in luxury Italian kitchen design to North America and Central America through a retail network of 22 showrooms. Snaidero USA also serves the multi-housing industry, partnering with top developers like, Howard Hughes Corporation, Fortune International Group, Turnberry, AEG, ASPAC Developments and the CMC Group, for over 170 projects completed to date. Today, under the leadership of its President, Comm. Dario Snaidero, Snaidero USA is the leader in North-American imports of European kitchen cabinets. Through its Snaidero USA Living collection, the company also offers made-in-Italy furniture for bathrooms and closets. The kitchens are made of eco-friendly, non-toxic materials through production processes with limited impact towards the environment. Snaidero USA is a member of the US Green Building Council. For more information, please visit www.snaidero-usa.com.

About Snaidero R. SpA (Italy)

Founded in 1946, Snaidero is Italy’s leading manufacturer of high-end kitchen cabinets. A wealth of experience built over 70 years of tradition and innovation. Always at the forefront of style and innovation, Snaidero partners with world-renowned artists, architects, and industrial designers, such as Ferrari stylist Pininfarina, international architect Massimo Iosa Ghini and acclaimed Italian designers Lucci and Orlandini, to create top-of-the-line products manufactured with environmental responsibility.

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In vogue: resident curators, sommeliers in luxury properties

Developers are bringing in resident experts in high living to cater to luxury home owners as a doorman and concierge are no longer enough.

These days, however, buyers of luxury flats can expect an altogether different level of service. Developers are hiring everything from art curators, nutritionists, sommeliers, tech experts and even lifestyle consultants to be permanently on site, available at a moment’s notice to make the lives of the inhabitants easier.

“These are people who are spending millions of dollars on a unit,” said Patrick Campbell, vice president of developer the Related Group in Miami. “They want to leave their burdens behind and they have tastes that need to be fulfilled on a regular basis.”

At the Rem Koolhaas-designed Park Grove in Miami, which is slated for completion in 2018, a nautical concierge will be on staff, tasked with setting up activities like yachting, paddle-boarding, or kayaking through the mangroves.

“We are across the street from the marina and decided to push that theme,” said Campbell. Interested buyers get a taste of the service by being invited to try one of the marine activities while they’re inspecting the property.

The league of specialist employees being tapped by developers is largely contingent on the location and vibe of the building.

Urby, a building on Staten Island in New York, encourages its residents to pick fruit and vegetables at its 5,000 square foot on-site urban farm. They can also learn gardening tips from the building’s farmer-in-residence, who runs workshops on everything from bee-keeping to fermentation. At 555Ten, a new 600-unit building in New York, the anticipated 300 pet owners in residence will have access to an in-house dog-groomer, there exclusively for their use.

And at the Auberge Beach Residences & Spa in Fort Lauderdale, Florida, developers are operating on the assumption that residents want to lead healthier lives, and have hired a yoga specialist and lifestyle consultant, who works with buyers to personalise their diet regimens and guide them towards “a fully fledged lifestyle experience”, said Campbell.

Those being hired for these jobs are aware that they are in a rarefied group, but say the shift reflects this age of instant gratification.

“People are used to getting things as soon as they want them, and having everything available at their finger tips,” said J Kipton Cronkite, an art expert who parlayed a position curating art for public spaces in residential buildings into being the resident curator, available to weigh in on the private collections of buyers at the Prive Island Aventura development in South Florida.

The initiative taps into the assumption that buyers at the elite US$2.2 million to US$8.3 million homes have some sort of art collection, or at the least an interest in acquiring one. Cronkite says he can leverage his decade-plus experience in that world to advise buyers.

“People are decorating their spaces and art becomes part of the conversation,” he said. “They bring it up earlier in the conversation, especially if there is enough wall space, and I can recommend how their existing tastes and pieces fit in with the new space and help them navigate the gallery world.”

Mike Lavora and Adam Light are co-founders of Throw Me A Bone, a New York-based company that offers dog walking, grooming, training, boarding and veterinarian care around the city.

But they have taken up residence in an 800 square foot space at 555Ten, a midtown Manhattan apartment building, where they can service up to half of the residents in the 600-unit buildings.

“Our services are exclusive to the property,” said Light. “Pet owners drop their dogs off here when they go out for the day. It’s like childcare. It’s part of the evolution in the world of amenities – at least in Manhattan.”

And sometimes, the niche, specialist job is just for a bit of fun.

Colin Hannan, co-founder and managing director of Itz’ana Resort and Residences in Belize, was committed to finding a rum sommelier to add to his staff list at the property, where people are buying second homes.

“People move here, they want to get a sense of history,” said Hannan. “What’s more South American or Central American than rum?”

The homes, which are three-quarters sold and will open for move-ins in August, will be adjacent to a specialist rum room that will be stocked with 120 varieties. The rum sommelier, Enrico Cordenons, was sent to distilleries in Miami, New York and Guatemala to be trained and mentored by master distillers, and attended forums in India, Thailand and Mauritius.

“[Cordenons] will be on hand to set up tasting sessions with our owners and make them feel a part of the lifestyle,” said Hannan. “We’ll have to see how it evolves.”

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Auberge Beach Residences & Spa Introduces Luxury Spa, Restaurant and Record-Breaking Penthouses

Auberge Beach Residences & Spa is taking luxury living to the next level in its exclusive new beachfront property in Fort Lauderdale, recently setting a new price record in the Broward County real estate market.

The first and only on-the-sand luxury residential project in Fort Lauderdale is highly anticipated by the community for its world-class restaurant and spa.

The project is the newest addition to the timeless portfolio of exceptional properties that together comprise The Auberge Collection. The Related Group, Fortune International Group and The Fairwinds Group, which make up the development team behind Auberge Beach Residences & Spa, have worked to make this vision become a reality, as completion is currently anticipated in mid-2018.

The development team recently announced the $9.5 million sale of the final residence within the penthouse collection, which tops the previous record-breaking penthouse sale at Auberge Beach Residences & Spa in April 2016 for $8.9 million.

An intimate, on-site event celebrating the topping off of the first of the two 17-story towers took place last month. The North Tower, which features 57 residences, is approaching sellout with only three residences remaining. The South Tower is over 60 percent sold and includes residences that range from 1,350 to 4,000 square feet, with pricing from $1.8 million to $5 million.

When completed, the two-tower 171-unit project will feature spacious floorplans, expansive oceanfront terraces, gourmet kitchens and property amenities and services that will include the brand’s world-class spa and restaurant – both of which will be open to the public, a Napa Valley wine cellar, 24/7 valet and concierge, a state-of- the-art fitness center overlooking the pool deck, the world’s best aboutGolf golf simulator, family-friendly children’s playroom and a clubroom with multimedia facilities, billiards and gaming tables.

Auberge Beach Residences & Spa Fort Lauderdale recently unveiled never-before-seen renderings of the highly anticipated Auberge spa and restaurant designed by award-winning New York-based interior design studio Meyer Davis. The design of the spa embodies sophistication with sleek floor-to-ceiling windows and soft mood lighting for residents and guests to enjoy.

The restaurant, when completed, will feature a wine program and farm-to-table concept centered around local and fresh ingredients.

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Auberge Beach Residences and Spa Penthouse Sells for $9.5 Million: A Record Breaking Price for Fort Lauderdale Market

At $9.5 million, the final penthouse residence at Auberge Beach Residences and Spa in Fort Lauderdale has sold with a record-breaking price tag. The two-story, five-bedroom, six-and-a-half bathroom penthouse boasts 5,686 square feet, equaling $1,670 per square foot, the highest price per square foot ever sold in Fort Lauderdale and Broward County.

The sale beat out the previous record also set by Auberge Beach Residences & Spa in April 2016 for $8.9 million.

With more than 3,700 square feet of outdoor space, the penthouse will have a balcony wrapping around three sides of the unit, as well as floor-to-ceiling windows which showcase panoramic views of the Atlantic coastline, and a spiral staircase leading to the private rooftop terrace and pool.

Residents will also have access to first-class amenities including two gourmet restaurants, a world-class spa, a wine cellar, oceanfront swimming pools, the world’s best aboutGolf simulator, a state-of-the-art fitness center, among others.

Auberge Beach Residences has seen $75 million in purchases in the first half of 2017 alone. The North Tower, which was topped off last month, is expected to be complete in late 2017, with only three residences remaining. The South Tower is over 60 percent sold and is set to open in Spring 2018.

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Auberge Beach Residences & Spa Introduces Luxury Spa, Restaurant and Record-Breaking Penthouses

Auberge Beach Residences & Spa is taking luxury living to the next level in its exclusive new beachfront property in Fort Lauderdale, recently setting a new price record in the Broward County real estate market.

The first and only on-the-sand luxury residential project in Fort Lauderdale is highly anticipated by the community for its world-class restaurant and spa.

The project is the newest addition to the timeless portfolio of exceptional properties that together comprise The Auberge Collection. The Related Group, Fortune International Group and The Fairwinds Group, which make up the development team behind Auberge Beach Residences & Spa, have worked to make this vision become a reality, as completion is currently anticipated in mid-2018.

The development team recently announced the $9.5 million sale of the final residence within the penthouse collection, which tops the previous record-breaking penthouse sale at Auberge Beach Residences & Spa in April 2016 for $8.9 million.

An intimate, on-site event celebrating the topping off of the first of the two 17-story towers took place last month. The North Tower, which features 57 residences, is approaching sellout with only three residences remaining. The South Tower is over 60 percent sold and includes residences that range from 1,350 to 4,000 square feet, with pricing from $1.8 million to $5 million.

When completed, the two-tower 171-unit project will feature spacious floorplans, expansive oceanfront terraces, gourmet kitchens and property amenities and services that will include the brand’s world-class spa and restaurant – both of which will be open to the public, a Napa Valley wine cellar, 24/7 valet and concierge, a state-of- the-art fitness center overlooking the pool deck, the world’s best aboutGolf golf simulator, family-friendly children’s playroom and a clubroom with multimedia facilities, billiards and gaming tables.

Auberge Beach Residences & Spa Fort Lauderdale recently unveiled never-before-seen renderings of the highly anticipated Auberge spa and restaurant designed by award-winning New York-based interior design studio Meyer Davis. The design of the spa embodies sophistication with sleek floor-to-ceiling windows and soft mood lighting for residents and guests to enjoy.

The restaurant, when completed, will feature a wine program and farm-to-table concept centered around local and fresh ingredients.

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Fort Lauderdale penthouse sells for record $9.5M

An unidentified buyer agreed to pay a record $9.5 million for a penthouse at the Auberge Beach Residences and Spa condominium development in Fort Lauderdale.
The five-bedroom penthouse is the first condo unit in Broward County to sell for more than $9 million.

The old record for Broward County was set in April 2016 when a four-bedroom penthouse at Auberge sold for $8.9 million.

The recently sold five-bedroom penthouse is a two-story unit in the north tower of the two-tower, 171-unit Auberge development, which is expected to open by early 2018.
The developers of Auberge are Related Group, Fortune International Group and The Fairwinds Group.

The $9.5 million price of Broward’s priciest condo ever equates to $1,670 per square foot. The 5,686-square-foot penthouse will have a balcony wrapping around three sides of the unit, which will have more than 3,700 square feet of outdoor space, including a private roof deck equipped with a plunge pool.

All five bedrooms will have entries to the balcony and views of the Atlantic Ocean. Each bedroom also will have a full bathroom. The penthouse will have two other bathrooms.
Shared amenities at Auberge will include two restaurants, a spa, oceanfront swimming pools, a golf simulator and a gym.

In addition to the unidentified buyer, other future residents of Auberge include former Miami Dolphins quarterback Dan Marino.

Patrick Campbell, vice president of Miami-based Related Group, told Mansion Global that the $9.5 million penthouse sale indicates strong demand for resort-style housing in Fort Lauderdale, where the luxury condo market has ballooned since 2012.

According to market research by Douglas Elliman and appraisal firm Samuel Miller, the median price of a high-end condo in Fort Lauderdale was $1.113 million in the first quarter after surpassing the $1 million mark in 2013.

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North Tower Topped Off at Auberge Beach Residences and Spa

The North Tower at Auberge Beach Residences and Spa Fort Lauderdale was topped off last week. The highly anticipated project is selling out quickly, and only three residences remain in the North Tower. The South Tower is currently over 50-percent sold out. New renderings of the oceanfront development’s world-class spa and farm-to-table restaurant were also released, and the spaces look absolutely breathtaking!

Once complete, Auberge Beach Residences and Spa will be comprised of two towers located directly on the sand in beautiful Fort Lauderdale. The ultra-exclusive development will offer 171 condos, boasting oceanfront terraces, gourmet kitchens, private elevators and floor-to-ceiling glass. Select Auberge Beach condos will offer private pools on the wide balconies. All condominiums above the second floor will showcase unobstructed northern views of the coastline.

Amenities at Auberge Beach Fort Lauderdale include a world-class spa, multiple oceanfront swimming pools, a state-of-the-art fitness center and multiple restaurants. A beautiful beach club will be located on the 450 feet of pristine ocean and beach frontage.

Auberge Beach Residences and Spa is one of the most exciting residential projects to ever hit Fort Lauderdale Beach. The remaining residences are not expected to last long, and the building will sell out!

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Auberge Beach Residences & Spa Fort Lauderdale Unveils Restaurant and Spa Plans

When it opens next year, Auberge Beach Residences & Spa Fort Lauderdale—a 171-condominium project situated on 450 feet of beachfront abutting the Atlantic Ocean—will bring a new standard of living to Floridians. The residential property has tapped interior design firm Meyer Davis to create an elevated dining concept and spa that will be open to both residents and the public. Though names have yet to be announced for the restaurant and spa, some design details have officially emerged.

Inside the 10,000-