Fortune partners with Christie’s
October 2022
Edgardo Defortuna cited the tech, branding that comes with Christie’s affiliation
Fortune International Group, a residential real estate development, sales and marketing firm with nearly 40 years of experience in South Florida, partnered with Blue Road, a Florida-based developer of hospitality, residential, commercial and mixed-use projects, to launch the sales for Nexo Residences.
The property at 13899 Biscayne Blvd. features 254 residences. It is one of the first condo projects with short-term rental capability and turnkey-ready units with full home-sharing capabilities without restrictions and resort-style amenities.
Fortune Launches Condo Sales of Nexo in North Miami Beach
April 2022
The development offers short-term rental capability with flexibility and central connectivity
Fortune International Group, a residential real estate development, sales and marketing firm with nearly 40 years of experience in South Florida, partnered with Blue Road, a Florida-based developer of hospitality, residential, commercial and mixed-use projects, to launch the sales for Nexo Residences.
The property at 13899 Biscayne Blvd. features 254 residences. It is one of the first condo projects with short-term rental capability and turnkey-ready units with full home-sharing capabilities without restrictions and resort-style amenities.
Okan Tower Unveils Loft Penthouse Collection
Okan Tower, downtown Miami’s latest mixed-use masterpiece set to be one of Miami’s tallest towers, announced today the unveiling of its exclusive Loft Penthouse Collection.
Rising 902 feet in the air, the 70-story project’s highly-anticipated Loft Penthouse Collection consists of 14 impressive residences soaring above downtown Miami at the building’s peak. Ten spectacular two-story units are featured on the 67th floor with expansive three-bedroom and one-bedroom layouts, and four single-story penthouse units are offered on the 69th floor with unparalleled views and every imaginable luxury within.
Okan Tower Unveils Loft Penthouse Collection
Okan Tower, downtown Miami’s latest mixed-use masterpiece set to be one of Miami’s tallest towers, announced today the unveiling of its exclusive Loft Penthouse Collection.
Rising 902 feet in the air, the 70-story project’shighly-anticipatedLoft Penthouse Collection consists of 14 impressive residences soaring above downtown Miami at the building’s peak. Ten spectacular two-story units are featured on the 67th floor with expansive three-bedroom and one-bedroom layouts, and four single-story penthouse units are offered on the 69th floorwith unparalleled views and every imaginable luxury within.
With 22-foot floor-to-ceiling windows in the two-story loftsand 10-foot-plus windows in the single-story units, all residents will enjoy incredible panoramic bay and city views with an abundance of natural light. Upscale Italian cabinetry is featured in the sophisticated kitchens and bathrooms along with top-of-the-line Sub-Zero® and Wolf® appliances throughout.
Fortune International Group And Blue Road Launch 15-Story Nexo Residences In North Miami Beach
April 2022
Fortune International Group, one of South Florida’s preeminent leaders in residential real estate development, in partnership with Bay Harbor Islands-based Blue Road, have launched Nexo Residences, a 15-story residential building planned for 13899 Biscayne Boulevard in North Miami Beach.
Designed by Frankel Benayoun Architects Inc. with consultation from internationally-renowned architect Carlos Ott and Urban Robot Associates handling landscaping and interiors, the structure will yield 254 move-in ready condominium residences with short-term rental capability, one of the first of this kind for North Miami Beach.
Fortune International Group and Blue Road Group Announces Nexo Residences in North Miami Beach
Nexo Residences, a 254-unit condo building with no short-term rental limitations in North Miami Beach, has been launched by Fortune International Group and Blue Road.
The proposed site is located at 13899 Biscayne Blvd., with Blue Road of Bay Harbor Islands and Fortune of Miami having a deal with Aventura-based Tomaja LLC for the 1.74-acre site. Currently on this site is a 36,661-square-foot office structure, built-in 1958, which would be removed.
Nexo Residences, according to the developers, will be the first condo in North Miami Beach to allow short-term rentals. Some investors choose short-term rentals as a method to supplement their revenue by offering properties on home-sharing services like Airbnb.
Fortune International Group and Blue Road Launch Nexo Residences, North Miami Beach Condo Allowing Short Term Rentals
Fortune International Group, one of South Florida’s preeminent residential real estate development, sales and marketing leaders for nearly 40 years, in partnership with Blue Road, a Florida-based integrated developer of hospitality, residential, commercial, and mixed-use projects, has announced the sales launch for Nexo Residences. The newest condominium development in North Miami Beach introduces short-term rental capability with full flexibility and central connectivity.
Sales launch for Biscayne Boulevard condos that will double as short-term rentals
Blue Road and Fortune International Group have teamed to launch sales of a condo in North Miami Beach that will allow short-term rentals.
Nexo Residences would have 254 units at 13899 Biscayne Blvd. Bay Harbor Islands-based Blue Road and Miami-based Fortune have the 1.74-acre site under contract from Aventura-based Tomaja LLC. The 36,661-square-foot office building, which was constructed in 1958, would be demolished.
The developers said Nexo Residences would be the first condo in North Miami Beach with short-term rentals permitted. Some investors prefer short-term rentals as a way to gain additional income by listing the units on home-sharing platforms such as Airbnb.
Blue Road, Fortune launch short-term rental-friendly condo project in North Miami Beach
Fortune International Group and Blue Road launched sales of Nexo Residences, a planned short-term rental-friendly condo project in North Miami Beach, The Real Deal has learned.
The project joins a growing pipeline of South Florida condo buildings that will have few to zero rental restrictions, geared to appeal directly to investors. Yet, it may be the first planned for North Miami Beach.
Panel Event Spotlights Okan Tower’s Tulip-Shaped Design
April 2022
The building will be one of Miami’s tallest structures
Renowned architect Robert Behar recently presented “Unfolding The Layers Of Luxury” to showcase Okan Tower’s unique tulip-shaped design, which will rise to 902 feet in the Miami skyline during its expected debut in 2026. The 70-story building will feature a glass façade with a curved apex and has generated over $39 million in sales. Architectural firm Behar Font & Partners, P.A., founded by acclaimed architect Robert Behar, designed the unique structure, which is expected to break ground this June.
The presentation was held at Okan Tower’s downtown sales gallery at 542 Nort Miami Ave. The event featured Behar and Carmen Casadella, Vice President of Development Sales at Fortune International Group, serving as the moderator. The discussion involved the developer’s emphasis on ensuring the building’s design would be an instantly iconic image for the Magic City.
Okan Tower On Track for June Groundbreaking, Completion 2026
April 2022
Okan Tower remains on track to begin construction within months, its developer announced yesterday.
According to a press release by Okan, groundbreaking is set for June. There was strong sales momentum at Okan Tower in March, with over $39 million in sales in 30 days, the release said.
Completion is scheduled for 2026.
TEN Arquitectos, Andrea Steele Architecture, and Sasaki Associates design a glass residential tower that reflects the natural environment to move fluidly from the city landscape out to the ocean
April 2022
TEN Arquitectos, Andrea Steele Architecture, and Sasaki Associates landscape architects join forces to create a 38-story sleek glass residential tower with luxury half- and full-floor units, each with panoramic views, expansive terraces, and private elevator landings.
2000 Ocean is a bold statement creating sixty-four residences encased in floor-to-ceiling windows. Building amenities include two swimming pools with sunrise and sunset views, a private valet entrance, and a freestanding spa pavilion.
Renowned Architect Robert Behar Hosts “Unfolding The Layers Of Luxury” At Okan Tower
April 2022
Spotlights Okan Tower’s unique tulip-shaped design set to soar 902 feet in the air and debut as one of Miami’s tallest towers
Few cities areas currently buzzed about as Miami, with the Financial Times even declaring it as “the most important city in America,” and on March 30, an exclusive panel discussion explored the inspiration behind Okan Tower, downtown Miami’s latest mixed-use masterpiece. Rising 902 feet in the air and set to be one of Miami’s tallest towers when it debuts in 2026, Okan Tower’s unique architecture is poised to be a defining element for the city.
Minotti debuta con su primer proyecto residencial en EU
Ubicado en Hallandale Beach, Florida, el edificio residencial 2000 Ocean –recién terminado– dio la bienvenida oficial a sus residentes, en donde Minotti ha llevado su sello Made in Italy a los espacios interiores y exteriores, con diseños y muebles creados con tecnología moderna y acabados artesanales.
Los interiores y arquitectura son resultado entre una colaboración estratégica con arquitectos y diseñadores, como Minotti y Enrique Norten de TEN Arquitectos, con KAR Properties, promotor del complejo.
Downtown Miami’s Okan Tower sells $39m in March
“A Vision of Luxury” is one phrase the developers of downtown Miami’s Okan Tower use on their website to describe the 70 stories development, which is due to break ground later this summer.
Well, it appears their pitch is successful as the development sold $39 million during the month of March, according to an announcement by Fortune International Group, the developer’s in-house sales agent.
Incredible’ Okan Tower Notched $39M Sales In 30 Days Last Month
April 2022
Sales momentum appears to be building at downtown Miami’s Okan Tower.
In March, the developers saw $39 million in sales in just 30 days, according to an announcement yesterday.
The sales figures were released by in-house broker Fortune International Group, which called the monthly sales figure “incredible.”
Investors flock to short-term rental condo projects in Miami
April 2022
Developers of short-term rental-friendly condo projects in Miami are experiencing quick sellouts, as investors and end-users flock to more affordable units.
The projects offer units priced as low as the $300,000s, close to what a starter home would cost, in a market that has become out of reach for so many prospective buyers and renters. That appeals to investors, who are snapping them up to generate rental income, experts say.
Investors flock to short-term rental condo projects in Miami
April 2022
Units are more affordably priced than other projects and offer flexible rental options
Developers of short-term rental-friendly condo projects in Miami are experiencing quick sellouts, as investors and end-users flock to more affordable units.
3 residencias sofisticadas para vivir en un paraíso de playas cerca de Miami
Las idílicas playas de Florida ocupan 1.700 kilómetros (1,100 millas) de su franja costera, paraísos en los que se desarrollan o se han construido algunas de las más increíbles torres para vivir cerca de Miami. Vale la pena echar un vistazo a proyectos como The Ritz Carlton Pompano Beach, Selene Oceanfront Residences y 2000 Ocean, para disfrutar el sueño de una vida cuya cotidianidad se confunde con unas vacaciones permanentes.
South Florida real estate projects in the pipeline for the week of March 25
Developer Asi Cymbal secured approval for his revised apartment complex along the New River in Fort Lauderdale, including the controversial relocation of a historical African rain tree.
On March 16, the city’s Planning and Zoning Board signed off on the project, slated for the 2.4-acre site at 408 S.W. Fourth St. The new plans are a bit smaller and have more parking to accommodate the concerns of neighboring residents, said attorney Stephanie Toothaker, who represents Cymbal.
The Northern Coast In South Florida Is Where We See The Future Of Development Moving
March 2022
Edgardo Defortuna remembers a time years ago when, like a lot of people from Miami, he’d drive north only for Palm Beach. Pompano Beach was an exit that he never took. Not long ago, however, Defortuna heard about a tract of land in Pompano, and it was unlike anything he’d seen as a longtime developer of major South Florida projects. The land included waterfront on both the Intracoastal and the beach, and he started imagining the possibilities.
Cipriani Launches Residences
March 2022
From high-profile design commissions to exciting listings, there is always something new happening in the world of real estate. In this roundup, AD PRO has everything you need to know.
Milestones Cipriani plans first ground-up residences
Miami’s Brickell neighborhood has been good to Cipriani: After opening a restaurant in 2013 and the Socialista lounge in 2019, the financial district will be home to the company’s first-ever ground-up residence in the U.S.
Hospitality and fine dining brand Cipriani to partner on Brickell condo tower
Revealed: St. Regis Residences Planned In Sunny Isles With Twin 62-Story Towers
March 2022
Developers have unveiled plans to build a twin-tower project in Sunny Isles called St. Regis Residences with luxury condos.
St. Regis Residences will have two towers rising 62 stories each, or 750 feet above ground. The 750-foot height is taller than anything else in Sunny Isles today, and matches the height of the Bentley Residences tower also planned in Sunny Isles.
Brooklyn’s First Supertall Hits the Market; Cipriani Residences Coming to Miami
March 2022
The Brooklyn Tower’s sky-high condominiums have hit the market, with prices beginning at $875,000 for a studio and reaching as much as $8 million for a four-bedroom residence. A select number of penthouses are expected to be available for sale later this year. The borough’s first supertall tower is designed by SHoP Architects and developed by JDS Development Group, two of the firms behind Manhattan’s slender supertall at 111 West 57th Street.
The 93-story building features 150 residences with interiors by AD100 firm Gachot Studios, which pair the building’s stunning skyline and river views with custom design elements such as honey-stained white oak flooring and antique-rubbed bronze detailing. Condominium residences start on the 53rd floor and boast 11-foot ceilings, kitchens with graphite matte black and bronze cabinetry, and bathrooms with custom vanities and marble accents. The sales launch also includes a first peek inside the building.
On the Horizon The Ritz-Carlton Residences, Pompano Beach
The Ritz-Carlton Residences, Pompano Beach is a two-tower luxury condominium development by Fortune International Group and Oak Capital. Interiors and landscape design have been curated by designer Piero Lissoni with architectural design by Revuelta Architecture International.
Una Residences Se Alza En Miami
March 2022
Una Residences, una monumental torre de condominios disenada por los aclamados arquitectos qua hicieron el Burj Khalifa en Dubai, se alza en la parte de la ciudad donde surgió el moderno estilo de vida en rascacialos en la década de 1970.
Ubicada an el punto más meridional de la avenida Brickell, cerca de la intersacción de Main Highway de Coconut Grove y la avenida Brickell en 175 SE 25th Road se eleva UNA, la impresionante torre de 47 pisos, una maravilla en si misma, con una impresionante fachada esculpida que exhibe líneas nitidas y modernas y curvas similares a cintas, inspiradas en la sinuosa cubierta de teca del emblemático yate Riva.
Cipriani and Mast Capital Launch Cipriani Residences Miami in Brickell
March 2022
Cipriani and Mast Capital have launched Cipriani Residences Miami, located at 1420 S Miami Ave. in Miami’s Brickell Financial District. Cipriani Residences Miami will evoke the essence of the Cipriani brand, recognized for its distinguished style, world class service and four generations of history. Cipriani Residences Miami will rise 80-stories and is the Cipriani brands first ever ground-up Cipriani residences. The Arquitectonica-designed tower will feature 397 residences which will range from one-to-four bedroom floor plans.
Cipriani Residences Miami will feature resort-style amenities including 2 swimming pools, a sun terrace, fitness center, spa, pickleball court, golf simulator and a variety of round-the-clock Cipriani Cipriani dining services including a Cipriani bar and private dining rooms.
Revealed: Cipriani Residences Miami
March 2022
After the successful opening of Casa Cipriani hotel and social club in New York, it is of no surprise that Miami will be getting the first-ever Cipriani branded residential tower, Cipriani Residences Miami.
Cipriani Residences Miami will feature 3 luxury towers spanning over 2.8 acres, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
80-Story Cipriani Residences Condo Tower Announced In Brickell
March 2022
Brickell is getting an 80-story Cipriani Residences condo tower, according to Forbes.
Cipriani Residences Miami will be located at 1420 S. Miami Avenue, part of a three-tower project planned by developer Mast Capital.
There will be 397 condos, with amenities such as private elevators and ten-foot ceilings.
The Cipriani tower will rise 939 feet above ground. There will also be two other towers in the complex rising 59 and 50 stories, with rental apartments.
Cipriani To Launch First-Ever, Ground-Up Residences, Cipriani Residences Miami
Beach Bliss: the Ritz Carlton Residences Pompano Beach Takes lucury to new heights
February 2022
The Ritz-Carlton Residences Pompano Beach rakes luxury to new heights.
The under-the-radar enclave of Pompano Beach in North Fort Lauderdale is about to get a dose of beachy luxury with the announcement of the Ritz-Carlton Residences Pompano Beach. The two-tower, 205-unit waterfront luxury condo development will break ground by the end of the year.
The project will have more than 35,000 square feet of amenities, including a marina yacht club and oceanfront beach club, sports courts, pool decks and restaurants.
Private Marina Is a Highly-Coveted Super Amenity in South Florida’s Newest Residential Developments
February 2022
The pandemic led to a surge in outdoor recreation activities like boating which provided Americans a welcome escape. Boat dealers continue to report record sales with demand at an all-time high as people plan for a summer on the water. There’s no wonder that the private marina is proving to be a highly-coveted amenity in the South Florida amenities race. Take a look at the latest new developments featuring private marinas and dockage for boating enthusiasts.
Hot Upcoming Projects
February 2022
Okan Tower Turning white-glove service into an everyday lifestyle, Okan Tower partners with Hilton Hotels & Resorts to rake the art of pampering to new heights. The 70-story city gem epitomizes elegance through its amenity-rich atmosphere, marble details and floor-to-ceiling windows.
Prices for a new three-bedroom unit at KAR Properties’ 2000 Ocean, opening this year in Hallandale Beach
February 2022
More luxury real estate, shopping, dining options and lifestyle have made Fort Lauderdale and Broward an attractive alternative to Miami-Dade for more than just boaters. “Fort Lauderdale has matured,” says Darin Tansey, executive director of sales for Douglas Elliman in Miami. Like everywhere, the issue in Broward is availability. Inventory in the third quarter was down 47%.
‘The Capitol of Capital?’ How Miami Mayor Francis Suarez Is Influencing Downtown’s Development
January 2022
Miami is now No. 1 in the country for tech job growth and migration, according to Miami Mayor Francis Suarez, who said, “Whether we like it or not, our economy is becoming more tech-based.”
Behind every fast-evolving city is a proud mayor. Or, in Miami’s case, ”The mayor who goes on Twitter and talks about it constantly.” That’s how Miami Mayor Francis Suarez referred to himself at a Monday panel discussion centered around a new building poised to become a defining part of the city’s skyline.
Developers relaunch sales for Okan Tower, ending Covid pause
January 2022
Okan Tower, a proposed 700-foot-tall mixed-use project, will break ground in June following a pause in construction due to the Covid-19 pandemic.
Bekir Okan, chairman of the Istanbul-based Okan Group, announced that sales were relaunched for the Miami project, at 555 N. Miami Ave.. during a Monday press conference at Okan Tower Miami Residences’ sales office.
Edgardo Defortuna, president of Miami-based Fortune International Group, whose company was tapped to head sales for Okan Tower, declined to say how many units have been sold so far.
“We restarted two-and-a-half months ago. It is a big tower with a lot of units,” Defortuna told the Business Journal. “We’ve been pleased with the response so far, but we have a long [way] to go.”
Miami Mayor Francis Suarez Says City Is Growing Faster Than Ever At Panel Discussion With Developers
January 2022
Miami Mayor Francis Suarez Says City is Growing Faster Than Ever At Panel Discussion with Developers
January 2022
MIAMI (CBSMiami) – Nearly 6,000 new apartments and more than 2,500 condos are under construction in the city of Miami. And a new, luxury, mixed-use building is expected to break ground this summer.
The 70-story skyscraper called Okan Tower will sit on North Miami Avenue near NW 6 Street. It’s not the only new addition to Miami’s skyline though. Within the next couple years, the skyline will include 14 additional skyscrapers.
Mayor Suarez Headlined a Panel Discussion About the Development of Downtown Miami, Then Answered Questions About Flying Vehicles
January 2022
Miami Mayor Francis Suarez joined Bekir Okan, chairman of Okan Group and the developer of Okan Tower; and Edgardo Defortuna, president and CEO of Fortune International Group, the tower’s exclusive broker (Defortuna graced the cover of SFBW’s October 2021 issue), to celebrate the upcoming Okan Tower residential residences in Downtown Miami.
The announcement of this major investment led Suarez to launch into his usual energetic boosterism of Miami, which he said is “really the epicenter of where capital allocation decisions are going to be made and where the companies of tomorrow are going to be formed. That’s what the world is looking at—we’re quickly emerging as the premier player in that vein.” He added that Miami is No. 1 in tech job creation and tech job migration, and cited data from Pitchbook about the city’s stunning growth in venture capital.
Relanzan gran proyecto para Miami tras pandemia
January 2022
Tras los inconvenientes de la pandemia del COVID-19 este lunes se relanzo en el centro de Miami, el que podría ser uno de los edificios más altos de la ciudad.
“Como diríamos muy casualmente, con bombos y platillos se relanzó la que se espera sea una de las torres más altas del gran Miami. “Okan tower Miami”, podría ser en unos tres años una realidad.
Francis Suárez, alcalde de Miami, dice:
“Es sumamente importante porque aumenta la base impositiva de impuestos que significa que no tenemos que aumentar los impuestos y podemos continuar invertir en las cosas esenciales”.
Laps of luxury: What upscale brands add to South Florida condos
January 2022
As well-heeled out-of-staters continue to flood South Florida, many are turning to brand names such as Ritz-Carlton, Porsche, Armani, Four Seasons and Aston Martin as they search for homes.
Luxury hotel and other high-end product brands have long been a big magnet for buyers who want a place with services ranging from spas to golf to high-end restaurants and recreation on the water. Now, developers see those brand names as a catalyst for sales at prices above-market rates, or as a means for speedier condo sales. In the past few years, a spate of new South Florida condo towers have taken on high-end monikers.
News in Brief: Janus et Cie opens Coral Gables showroom; United Way of Broward County receives $150,000 from Amazon.com
January 2022
• The Altman Management Co., a division of The Altman Cos., has been named manager of two Miami apartments • United Way of Broward County received $150,000 from Amazon.com in support of its community-based initiatives: $50,000 for Mission United; $50,000 for Project Lifeline; $25,000 for Day of Caring; and $25,000 for the Mayors’ Gala. www.unitedwaybroward.org.
Rafael Montejo appointed as director of sales for Okan Tower
January 2022
Fortune International Group announced that Rafael Montejo will lead sales and marketing at Okan Tower, downtown Miami’s newest mixed-use development. Specifically, Montejo will serve as sales director for Fortune Development Sales, Okan Tower’s exclusive sales and marketing brokerage.
Montejo most recently served as the sales director for Quadro Miami, where he produced over $100 million in sales in 12 months. Before that, during his tenure with Douglas Elliman, Montejo was an in-house sales executive for Arbor Miami, where he broke Coconut Grove’s record for selling the highest price per square foot for non-waterfront single-family homes, according to a press release.
Kar Properties Locks Down $128 Million Condo Inventory Loan For 2000 Ocean In Hallandale Beach
January 2022
KAR Properties, led by Shahab Karmely, have closed on a $128 million condo inventory loan for the recently completed 2000 Ocean in Hallandale Beach. Madison Capital Realty provided the loan which will be used to pay off a $103 million construction loan issued by Apollo Commercial Real Estate Finance in 2018. 2000 Ocean was completed in December 2021 and closings are set to begin January 14, 2022.
KAR Properties first launched sales for the project in October 2017 with Douglas Elliman Development Marketing before partnering with Edgardo Defortuna’s Fortune International Group to take over sales and marketing in August 2018. The project officially broke ground in November 2018 with Suffolk Construction as the contractor.
2000 Ocean rises 38 stories, providing spectacular views of the Atlantic Ocean and Intracoastal Waterway. The boutique condo tower, which is designed by Enrique Norten of TEN Arquitectos with concept design by Kobi Karp Architecture & Interior Design, landscape architecture by Sasaki and interior design by Minotti.
The Real Deal – Shahab Karmely nabs $128M condo inventory loan for new Hallandale project
January 2022
Developer Shahab Karmely closed on a $128 million condo inventory loan for an oceanfront development in Hallandale Beach, replacing the project’s $103 million construction loan, The Real Deal has learned.
Karmely’s KAR Properties secured the loan from Madison Realty Capital. It pays off debt that Apollo Commercial Real Estate issued in 2018.
The 38-story, 64-unit building, called 2000 Ocean, was completed in December. Developers typically use condo inventory loans to help cover carrying costs of unsold units, as well as to pay off construction loans.
A spokesperson for the development declined to disclose sales figures for 2000 Ocean. Closings are set to begin Jan. 14, the spokesperson said.
The Ritz Comes to Pompano
January 2022
What will 2022′s real estate market look like A dive into supply, prices, rents and more
December 2021
After a year of record price growth in South Florida housing, what does 2022 hold? We asked experts to weigh in on a range of topics, from affordability to mortgage rates to migration and supply and demand.
Home prices will grow, but slower than in the past year
Experts predict that prices for homes should increase, but not at the record pace they did over the past year and a half.
Exclusive Resident-Only Bars Bring the Social Scene Home
December 2021
The Waldorf 90, a new signature drink sure to be served at the upcoming opening of The Towers of the Waldorf Astoria, was created in honor of the hotel’s 90-year anniversary and to ring in a new era that includes residential apartments for sale. The invention of Frank Caiafa, author and bar manager of the storied Peacock Alley, the cocktail’s heady blend of Scotch whisky, sweet vermouth, and blackberry and raspberry gin sounds divine—for the lucky few who are able to try it.
Construction Permit for 70-Story Okan Tower Set to be Activated
December 2021
A construction permit for the 70-story Okan Tower in downtown Miami appears set to be activated.
A request to activate the permit was made last night (December 7), city records show. The request is now pending approval.
The permit had fallen into inactive status during the pandemic, when permitting activity by the developer was halted. Activation will allow for review by Miami’s Building Department to resume.
A sales office for Okan also opened last month, following a hiatus during the pandemic.
Okan Tower a 70-story architectural masterpiece
December 2021
At the epicenter of Miami’s urban core rises Okan Tower, a 70-story architectural masterpiece, anchored by Hilton Hotels & Resorts and featuring an all-star roster of design, development. and co-branding partners, including Turkish developer Okan Development, internationally-renowned architecture Firm Behar Font Architects, and Fortune Development Safes. The mixed-use tower will be a monument of the future as Downtown Miami has been reinvigorated by the allure of an ultimate live-work-play destination.
Plans for Okan Tower Fast Tracked on Heels of Border Reopening
November 2021
On the heels of the U.S. border reopening to international travelers and preparing for the influx of overseas buyers anticipated to return to Miami, Okan Group announced that it has relaunched sales for Okan Tower, a 70-story mixed-use tower located at 555 North Miami Avenue, Miami, Florida. Having put the project on pause in the wake of COVID-19 restrictions and quarantines on international travel, the world-class development team has reimagined the tower with the introduction of new floor plans, ten new lofts and an exciting all-weather, glass-enclosed rooftop deck and observatory.
Plans for Okan Tower Featuring Five-Star Hilton Hotel & Resort Fast Tracked on Heels of Border Reopening
November 2021
Sales Launch For The 70-Story Okan Tower At 555 North Miami Avenue In Downtown Miami
November 2021
Okan Tower Announces Fast Tracked June 2022 Groundbreaking, Glass Rooftop Observatory
November 2021
Turkish developer Okan Group has announced a fast track 2022 groundbreaking date for their tulip-shaped tower planned in downtown Miami.
Groundbreaking is now scheduled for June 2022, a representative of the developer told The Next Miami.
The developer also announced that plans have been revised to add an all-weather, glassenclosed rooftop deck and observatory at the top of the tower – exclusively for residential condo owners.
Sales are now underway again for residential condo units and condo-hotel units, following a shutdown of the sales center during the Covid-19 pandemic.
“We are excited to take the project straight to contract because the developer is ready to move construction forward,” said Edgardo Defortuna, founder and CEO of Fortune International Group.
Okan Tower is back: Developer relaunches sales of downtown Miami tower
November 2021
The developer of Okan Tower in downtown Miami relaunched plans for the project — now that international travelers can enter the U.S. again.
Okan Group, led by chairman Bekir Okan, put sales of the planned 70-story Hilton Hotel & Residences-branded tower on hold when the pandemic began last year. Now that the U.S. lifted the ban on foreign travel from 33 countries, including Mexico and Canada, the developer is selling again.
Okan tapped Edgardo Defortuna’s Fortune Development Sales to handle sales of the 163 condos and 263 condo-hotel units. One Sotheby’s International Realty was previously handling sales.
Miami Penthouses Fly Off the Market; The Cortland is Unveiled in NYC
October 2021
In Manhattan, RAMSA and Olson Kundig Team up for the Cortland
Robert A.M. Stern Architects and Seattle-based design firm Olson Kundig are at work on The Cortland, Related Companies’ newest addition to Manhattan’s West Chelsea neighborhood. The 144-condominium building will launch sales and unveil pricing on its studio to five-bedroom residences this fall. Drawing on the neighborhood’s industrial heritage and historic architecture, the 25-story building will feature a façade of limestone, metal, and over a million handmade and hand-laid bricks. While the building’s amenities have yet to be formally announced, documents on file with the city say The Cortland will have a pool, a porte cochère and on-site parking, a dog grooming area, a golf simulator and more.
Riding High On The Crest of A Blue Wave, 57 Oceans Sells The One-Of-A-Kind Penthouse For $36M, Obtains TCO, And Celebrates A Record 100% Sellout Before Completion
October 2021
57 Ocean Achieves $330M Sell-Out and Receives TCO with Closings to Begin in October
October 2021
Arquitectonica-Designed 18-Story ’57 Ocean’ Condominium Sells Out As Development Reaches Completion
September 2021
Construction is now complete at 57 Ocean, an 18-story condominium tower at 5775 Collins Avenue in Mid Beach, Miami Beach. Designed by renown architecture firm Arquitectonica and developed by Multiplan Real Estate Asset Management, the ultra-luxury residential development yields 69 units featuring interiors by Brazil-based Anastassiadis Arquitetos and penthouse units curated by Sofia Joelsson Design. The project made major headlines recently with the announcement of the sell out of inventory, including the sale of the pristine $36 million full-floor penthouse and in conjunction with obtaining a temporary certificate of occupancy.
The full-floor penthouse, touted as the crown jewel of the project, is comprised of approximately 7,500 square feet of interior space coupled with an additional 7,000+ square feet of outdoor terraces including a panoramic pool, spa pools, summer kitchen and sauna, and features five suites, office, private gym, club room, six full baths, and two powder rooms. Residents will enjoy breathtaking views facing the Atlantic Ocean with 360-degree views of the azure horizon and vibrant cityscape.
57 Ocean Sells $36M Penthouse, Obtains TCO and Celebrates Record Sellout!
September 2021
Designer Digs Bring Fashion To New Heights By Securing A Spot In One Of These Four Fabulous, Branded Additions To The Miami Skyline
September 2021
Missoni Baba Capping out at an abundant 57 stories, Miami’s Missoni Baia Tower is nearing its long-awaited completion. The brand’s first-ever residential project sits comfortably along Biscayne Bay in the opulent Edgewater neighborhood. The building presents a coveted waterfront location with world-class design features and amenities. The uniquely modern architectural design by Hani Rashid incorporates a sleek art-inspired exterior, complementing Enzo Enea’s richly layered landscape motif. New York designer Paris Forino has gone over every aspect of the elegantly crafted residences, under the esteemed creative direction of Angela and Rosita Missoni.
The Ritz-Carlton Residences, Sunny Isles Beach Unveils Dreamy New Beachfront Residence
September 2021
The Ritz-Carlton is hailed worldwide for its legendary, butler-like service — and an unmatched dedication to excellence and an attention to detail that puts every conceivable convenience at the beck-and-call of its guests.
Representing the new flagship property of The Ritz-Carlton-branded residences, The Ritz-Carlton Residences, Sunny Isles Beach was developed by internationally-revered developers Fortune International Group and Château Group and designed by Bernardo Fort-Brescia of Arquitectonica with interiors by Florentine architect Michele Bönan.
Managed by The Ritz-Carlton, the curvilinear-shaped, glass-clad tower doesn’t have a hotel on the premises, meaning that amenities are private, giving buyers all of the perks of a five-star resort — but none of the transient use.
Adding to the building’s unmistakable draw, a collection of turnkey designer residences are currently available for prospective buyers. Fortune International Group and Château Group collaborated with renowned Brazilian designer Artefacto on a new move-in-ready residence, No. 1505. This exquisite 3,640 square foot four bedroom and five and a half bathroom, plus service quarters, residence is on the market fully furnished for $6 million. The exclusive condominium also features an additional 475 square feet of living room-like outdoor terraces.
Se da a Conocer la Colección Exclusiva de Penthouses de Una Residences en Miami
September 2021
Se da a Conocer la Colección Exclusiva de Penthouses de Una Residences en Miami
September 2021
Inspirada en el icónico yate “Riva”, el diseño arquitectónico de Adrian Smith y Gordon Gill de la torre de 47 pisos frente al mar logra su definición mediante una fachada esculpida a partir de líneas modernas y curvas en forma de ondas. Actualmente en construcción en el sector South Brickell de Miami, su entrega está pautada para el 2023.
OKO Group y Cain International lanzan una colección limitada de penthouses en Una Residences, la torre de condominios de lujo de 47 pisos, en construcción en el codiciado enclave de South Brickell en Miami.
La recién develada colección de penthouses de Una Residences es una combinación de amplias residencias, unidades de una sola planta y unidades de tres plantas en los pisos superiores.
Todos los penthouses serán entregados totalmente acabados, con techos cuya altura oscila entre 9 y los 12 pies, ingreso mediante elevador privado, acabados y accesorios de primera con vistas panorámicas del litoral de Brickell que incluye vistas directas de 180 grados del Océano Atlántico la Bahía de Biscayne y del paisaje urbano de Miami.
Dos de los penthouses de tres pisos, tendrán grandes terrazas al aire libre, cada una con dos piscinas – una de nado y otra más pequeña tipo tina–cocina de exteriores y sala de sauna.
Los precios fluctúan desde aproximadamente $7.1 millones por penthouse de una sola planta, hasta $21.6 millones por los de tres plantas. Cerca de 85% de las unidades están vendidas con contrato en firme, arrojando ventas completadas desde enero de 2021 por encima de $154 millones. Una vez finalizada su construcción en 2023, su destacada ubicación en ese recluido sector de South Brickell a orillas de la Bahía de Biscayne, constituirá la primera entrega de una torre residencial en el vecindario de Brickell en más de una década.
Se da a Conocer la Colección Exclusiva de Penthouses de Una Residences en Miami
September 2021
Inspirada en el icónico yate “Riva”, el diseño arquitectónico de Adrian Smith y Gordon Gill de la torre de 47 pisos frente al mar logra su definición mediante una fachada esculpida a partir de líneas modernas y curvas en forma de ondas. Actualmente en construcción en el sector South Brickell de Miami, su entrega está pautada para el 2023
Se da a Conocer la Colección Exclusiva de Penthouses de Una Residences en Miami
September 2021
Inspirada en el icónico yate “Riva”, el diseño arquitectónico de Adrian Smithy Gordon Gill de la torre de 47 pisos frente al mar logra su definición mediante una fachada esculpida a partir de líneas modernas y curvas en forma de ondas. Actualmente en construcción en el sector South Brickell de Miami, su entrega está pautada para el 2023
Se da a Conocer la Colección Exclusiva de Penthouses de Una Residences en Miami
September 2021
Inspirada en el icónico yate “Riva”, el diseño arquitectónico de Adrian Smith y Gordon Gill de Ia torre de 47 pisos frente al mar logra su definición mediante una fachada esculpida a partir de lineas modernas y curvas en forma de ondas. Actualmente en construcción en el sector South Brickell de Miami, su entrega esta pautada para el 2023 OKO Group y Cain International lanzan una colección limitada de penthouses en Una Residences, Ia torre de condominios de lujo de 47 pisos, en construcción en el codiciado enclave de South Brickell en Miami.
Waterfront Condominium in Miami Reaches Construction Milestone
August 2021
The Missoni Baia property is located in the city’s Edgewater neighborhood
The Missoni Baia luxury condominium in Miami is one step closer to opening after recently topping off constriction at 57 stories. OKO Group and Cain International are developing the 649-foot-tall waterfront tower with architect Hani Rashid of Asymptote Architecture designing the building.
Missoni Baia Tops Out in Miami; HGTV Founder Buys at One57
August 2021
Missoni’s Forthcoming Miami Tower Reaches Its 649-Foot Apex
The first branded residential tower of Italian design and fashion house Missoni has topped out in Miami at 57 stories. Designed by Hani Rashid of Asymptote Architecture, who drew inspiration for its facade from minimalist art, the 649-foot-tall building sits on the Biscayne Bay waterfront in Edgewater. Missoni Baia’s interiors, however, will feature the richly colored and patterned designs Missoni is known for, with the brand’s home collection integrated into the common and amenity spaces. New York-based interior designer Paris Forino, under the creative direction of Angela and Rosita Missoni, has designed the interiors of the 249 residences.
Residential High-Rise in Miami Tops Out – Missoni Baia
August 2021
The Missoni Baia condominium high-rise in Miami has topped out at 198 meters.
The 57-story building from OKO Group and Cain International has most of its 249 units already sold ahead of its projected completion later this year. Since January 2021, the project has completed over US$110 million in condo sales, widely purchased by domestic buyers either buying second homes or looking to relocate to Miami completely.
Located at 777 NE 26th Terrace along Biscayne Bay in the City’s Edgewater neighborhood, the building was designed by Asymptote Architecture. As Missoni’s first-ever branded residential tower, the Italian design and fashion house is incorporating its design palette and Missoni Home furniture collection into the building’s interiors, including all public spaces and amenity areas.
Cloud Nine, Climb Aboard A Private Elevator And Ascend 56 Stories Toward The Sparkling South Florida Sun To Find The Pinnacle Of Penthouse Perfection
August 2021
The 2.5 mile stretch of sugary ocean frontage in Sunny Isles Beach stays constantly aglow, home to a parade of sky piercing edifices sparkling in the famous South Florida sunshine. Secluded yet a short distance from several high end hotspots like the Bal Harbour Shops and the Design District, this small enclave is home to some of the most exclusive oceanfront addresses in the greater Miami area. Jade Signature, one of the tallest and most illustrious monoliths along this pedigreed row, recently unveiled its Ccrown jewel, a sprawling two story design palace in the sky.
South Florida Luxury Buyers Aiming To Supersize
June 2021
Herzog & de Meuron-designed Jade Signature Unveils Penthouse
June 2021
Developed by Fortune International Group, Jade Signature’s brand new, turnkey $29.5 million penthouse directly fronts the Atlantic Ocean offering spectacular 360-degree ocean, city and Intracoastal Waterway views on a private stretch of pristine, sugary-sand beachfront. Created by Pritzker prize-winning Swiss architects Herzog & de Meuron, and interior designer and French ‘master of grande luxe’ Pierre-Yves Rochon, the building’s attention to detail and meticulous craftsmanship have earned Jade Signature a bevy of global accolades and top honors, including being named one of Dezeen Magazine’s “Top 10 Skyscrapers of 2018.”
Axonic Properties buys Pompano Beach condos in $25M bulk purchase
May 2021
Buyer scooped up 153 units at 288-unit development
Luxury Condo Towers at Brickell City Centre Sells Out
May 2021
Reach and Rise Residences at Brickell City Centre sells out
May 2021
KAR Properties & Fortune International Group Buy Out Remaining Reach And Rise Residences At Brickell City Centre
May 2021
New York City’s KAR Properties and Miami’s Fortune International Group are pleased to announce they have bought out the remaining 81 unit inventory at Reach and Rise Residences at Brickell City Centre, two 43-story luxury residential skyscrapers located at 68 SE 6th St. and 88 SW 7th St. developed by Hong Kong’s Swire Properties. Prior to the closing, the two towers were nearly at an astonishing 90% sold; the sale of the remaining units marks the successful sell out of Swire’s residential development. Moving forward, KAR Properties and Fortune International Group will be focusing on selling the recently purchased units with Fortune Development Sales leading these efforts.
Shahab Karmely, Edgardo Defortuna team up on bulk condo buy at Brickell City Centre
May 2021
Swire Properties Will Turn Attention To Developing Next Phases Of Brickell City Centre After Selling Off Condo Units
May 2021
Swire sells remaining condos at Brickell City Centre to KAR, Fortune for $65M
May 2021
KAR Properties y Fortune International Group compran las residencias restantes de Reach y Rise Residences en Brickell City Centre
May 2021
The Ritz-Carlton Residences, Sunny Isles Beach Continues Its Remarkable Sales Activity
May 2021
The Ritz-Carlton Residences, Sunny Isles Beach has finished, closed, and delivered its prestigious collection of four penthouses, totaling over $82 million in sales to domestic buyers hailing from the East Coast.
The penthouses at The Ritz-Carlton Residences, Sunny Isles Beach were sold even before the tower officially opened its doors last year. Despite the global pandemic, The Residences, developed by Fortune International Group and Chateau Group, have sold over $650 million and continue to approach a near-building sell-out. Such an impressive sales activity has been attributed to The Residences’ legendary butler-like services, serene oceanfront setting and large, airy offerings.
Penthouse buyer Kenneth Feldman has recently closed on The Residences’ largest penthouse spanning over 9,100 square feet of interior space with over 4,000 square feet of exterior balcony space.
Destination: Relaxation – The Ritz-carlton Residences, Sunny Isles Beach – Jade Signature
April 2021
THE RITZ-CARLTON RESIDENCES, SUNNY ISLES BEACH
Transport yourself into a state of pure serenity when stepping into The Ritz-Carlton Residences, Sunny Isles Beach. Praised for its milelong strip of beautiful white sand, oceanfront views and superior spa services, residents can always indulge in more facials and less stress. After a long and trying week, residents will find solace in the lavish spa to mend tired minds and muscles with various treatments, rituals and experiences. Massage services take place at the outdoor massage garden complete with lush landscapes for a truly serene setting. Other spa amenities to explore include the nurturing heat from the sauna, the Thermal Vitality Pool or lap pool and an oceanfront state-of-the-art fitness center. Residents at The Ritz-Carlton Residences, Sunny Isles Beach can take pleasure in these luxury services and amenities at any time of day. 15701 Collins Ave., Sunny Isles Beach, theresidencessunnyislesbeach.com
JADE SIGNATURE
Skincare guru Tata Harper brings her chic brand to Jade Signature, making the residential building one of the world’s most exceptional and unique high-end properties. “We believe our clients should never have to compromise between health and results, natural and luxurious, or beauty and intelligence.
A Duplex Penthouse With Its Own Pool Atop a 57-Story Tower in Sunny Isles Beach, Florida
April 2021
2021 Power Leaders in Real Estate
April 2021
The real estate sector was deemed an essential business during the pandemic. Executives also proved to be resourceful and resilient. Countless new projects in single-family, rental apartment and condominium residential, as well as warehouse, distribution and logistics developments, are dotting the map from Miami through greater Fort Lauderdale and north to the Palm Beaches.
The flood has been fueled by workers and executives fleeing higher-cost, lower-quality of-life regions such as the Northeast, Midwest and even California. They’re seeking a more amenable and less expensive remote work or corporate relocation destination.
Unwind And Recharge At These Ultraluxe Residences That Provide The Ultimate Escape Through Cutting-Edge Spa Amenities
April 2021
Destination: RelaxationUNA RESIDENCES Life at Una Residence is unlike any other in large part due to the incredible spa and wellness amenities that the building has for its occupants.
Miami diversifica su atractivo y ofrece tecnología
April 2021
Miami ha diversificado su atractivo turístico de playas y vacaciones únicas y ha sumado cultura, urbanismo moderno y tecnología.
El impulso inmobiliario en el sur de Florida en la última década ha propiciado también el desarrollo tecnológico. Ahora junto a cientos de peatones en Brickell o en el downtown de Miami también se trasladan los pequeños robots que entregan comidas de restaurantes a domicilio, menús por tabletas, pagos de estacionamientos por “scaners” de teléfonos celulares o códigos de internet; e incluso, al diálogo cotidiano en una terraza u oficina se han sumado decenas de vocablos de tecnología.
Interior Designer Piero Lissoni Talks Monaco Yacht Club & Residences And Bringing The French Riviera To South Florida
April 2021
World-famous master Italian architect, Piero Lissoni, whose designs are bringing sophisticated European design to Monaco Yacht Club & Residences in Miami Beach, sat down with Haute Residence for a Q&A on the inspiration for the interiors of the project and the materials he selected to bring a taste of the Côte d’Azur to South Florida.
Monaco Yacht Club & Residences is an exclusive enclave of thirty-nine luxurious waterfront residences and a private marina in collaboration with two of the most esteemed names in design, Piero Lissoni and Bernardo Fort-Brescia of Arquitectonica. It is slated for completion in Fall 2021. HR: What was the design inspiration for Monaco Yacht Club & Residences’ interiors? PL: In part, we were inspired by Mediterranean environments, particularly the Italian Riviera and the Côte d’Azur, and in part by the nautical world, especially by the Riva Aquarama boat. From the realization of the lobby floor as if it were the deck of a boat, to the choice of the chandelier that recalls a lobster net, to the nautical styling, everything is reminiscent of a yacht club.
Photo Credit: Courtesy of Monaco Yacht Club & Residences
HR: What colors and materials did you incorporate into the design in order to capture the South of France and the Mediterranean lifestyle? PL: We were inspired by the nautical world of the 1950s. We used chrome, natural fabrics, soft and neutral colors with some dashes of stronger color. The Riva Aquarama is also renowned for this contrast between the wood and the light blue cushions. The reception desk is instead a deep-sea blue. The apartments have two different typologies in terms of the “shades” employed. One version features soft and muted colors that are evocative of morning sea mists, with light, desaturated wood and some darker colors to provide contrast, while the second version features darker colors inspired by the night sea, the contrast here given by areas of white. HR: Walk us through the design features that you are incorporating throughout MYC’s residences, including in the kitchen and bathrooms. What was the vision for the design, and what can residents expect to feel and see upon walking into their homes? PL: We wanted to reproduce the feeling of being on a boat, both when entering on the ground floor, with the jetty that connects directly to the yachts, and also inside the apartments, with their magnificent views of the sea. The extensive use of large windows seeks to accentuate the relationship between the inside and the outside, as if you’re always living in the open air. In addition, the terraces are equipped with cooking facilities, further expanding the possibilities of life outdoors.
Miami’s UNA Residences slated for completion in 2023
April 2021
Miami’s Una Residences have experienced a surge of buyer momentum with $75 million in sales over the past four months, according to a press release from the company.
Now, OKO Group and Cain International, the project’s development team, have secured a $128.3 million in construction financing.
The development team broke ground in May 2020 and is expected to complete the 47-story luxury condo tower in 2023.
The tower will include 135 two- to five-bedroom condominiums. Residences are priced from $2 million to $7.4 million, with two ultra-exclusive penthouses priced up to $21.6 million.
Una Residences in Brickell secures $128M in construction funding
April 2021
Oko Group and Cain International obtained a $128 million construction loan for Una Residences, a waterfront condo in Miami’s Brickell district.
Bank OZK provided the mortgage to the developers for the 135-unit project at 175 S.E. 25th Road, a 1.04-acre site along Biscayne Bay. Una Residences broke ground in May 2020, so this loan provides the developers with the financing needed to bring the project to the finish line.
The loan was brokered by Keith Kurland, Aaron Appel, Adam Schwartz, Michael Diaz and Sea Bastian of Walker & Dunlop. Law firms Weil Gotshal & Manges and King & Spaulding represented the developers and the bank, respectively, in the deal.
OKO Group and Cain International Lock Down $128.3 Million Construction Loan for Una Residences
April 2021
OKO Group and Cain International have secured $128.3 million in construction financing for Una Residences. The senior debt, which was provided by Bank OZK, will fund the ongoing development of the 47-story luxury condo tower, which broke ground in May 2020 and has over $75 million in sales over the past four months.
The Walker & Dunlop team led by Senior Managing Directors & Co-Heads of New York Capital Markets Keith Kurland, Aaron Appel, and Adam Schwartz along with Managing Director Michael Diaz and Director Sean Bastian represented the developers in the transaction. Weil Gotshal & Manges served as counsel for the sponsor/developer, while King & Spaulding served as counsel for Bank OZK.
OKO Group, Cain International Secure $128M Loan for Miami Tower
April 2021
OKO Group and Cain International have received a $128.3 million construction loan from Bank OZK for the ongoing development of Una Residences, a 47-story luxury waterfront condominium tower in Miami’s South Brickell neighborhood.
The developers broke ground on the high-rise in May 2020 and expect to complete the project in 2023.
Terms of the construction financing were not disclosed but Greg Newman, managing director of originations for Bank OZK’s Real Estate Specialties Group, said in a prepared statement the bank was attracted to the project because it is a marquee real estate development with strong market fundamentals and top-tier sponsorship.
Ten30 South Beach Boutique Condominium Development Creates Larger Units to Meet Wave of Recent Buyer Demand
April 2021
MIAMI BEACH, FL – Ten30 South Beach, an enclave of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums by development firm Shoma Group, is doubling down as a wave of recent buyer demand for larger units has created a series of new bespoke floorplans throughout the boutique project.
Originally planned as a curated collection of 43 units, primarily focused on one- and two-bedroom condominiums, the project has seen a surge in interest from out-of-state buyers looking to relocate to South Florida and requesting larger three-bedroom units. Catering to this uptick in buyers who prefer the intimacy and exclusivity of a boutique building yet also seeking the turnkey appeal and size of a single-family home, developers along with the project’s exclusive residential brokerage, Fortune Development Sales, are seeing a growing trend as many new buyers have purchased multiple units with plans to combine them and update the floorplans to create larger units to enjoy.
Ten30 South Beach Doubles Down – Supersizes Condo Units To Meet Buyer Demand
April 2021
Ten30 South Beach, an enclave of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums by development firm Shoma Group, is doubling down as a wave of recent buyer demand for larger units has created a series of new bespoke floorplans throughout the boutique project.
Originally planned as a curated collection of 43 units, primarily focused on one- and two-bedroom condominiums, the project has seen a surge in interest from out-of-state buyers looking to relocate to South Florida and requesting larger three-bedroom units. Catering to this uptick in buyers who prefer the intimacy and exclusivity of a boutique building yet also seeking the turnkey appeal and size of a single-family home, developers along with the project’s exclusive residential brokerage, Fortune Development Sales, are seeing a growing trend as many new buyers have purchased multiple units with plans to combine them and update the floorplans to create larger units to enjoy.
As a result, Ten30 South Beach will offer even more exclusivity with just 33 supersized units when completed this summer. With more than 75 percent of units under contract, buyers are taking note of the idyllic offerings at Ten30 South Beach and the flexibility to upgrade their units to create larger spaces with layouts they feel best accommodate their desired lifestyle.
“Sales at Ten30 South Beach have certainly reached a peak the past few weeks. What we find most compelling is almost all of our latest buyers are combining units to create three-bedroom floorplans or larger. The pandemic has changed people’s buying trends and as they spend more time at home they’re seeking additional space to entertain and to be able to work from home along with more exclusivity,” said Masoud Shojaee, President and CEO of Shoma Group. “What started out as a boutique building is now even more exclusive than before as we’ve reduced the number of units to adapt to this growing demand.”
“Buyers are recognizing that we’re offering a very niche project. We sold out of our two-bedroom units very quickly, and had to create more,” said Stephanie Shojaee, Chief Marketing Officer of Shoma Group. “Due to Shoma’s technological advances, we were able to swiftly adjust even at such late stages in the project.”
“At Ten30 South Beach, we’ve found strong demand from out-of-state buyers – mainly from New York and California – and yet had limited inventory of what they were requesting,” said Edgardo Defortuna, President and CEO of Fortune International Group. “There’s certainly a sense of urgency in the buyers we’re seeing as they’re looking to move to South Florida now. Ten30 South Beach is ideally timed to meet this groundswell with delivery set for this summer.”
Nestled in one of South Beach’s most vibrant neighborhoods, the project offers the style and prestige of an exclusive address surrounded by premier shopping, dining and dazzling attractions of Miami Beach.
Primed for pure relaxation and a healthy lifestyle, Ten30 South Beach will feature a uniquely sumptuous saltwater rosé-colored pool situated on a sprawling 6,000 square-foot rooftop deck. Additional upscale amenities include a lounge and outdoor kitchen area complete with barbecue and yoga space, as well as a dual gym showcasing spinning and treads with Pilates reformers and rock-climbing.
Positioning itself as an unparalleled luxury retreat away from the high-rise condo projects that have priced local buyers out of South Beach, Ten30 South Beach offers one-, two- and three-bedroom units as well as penthouses with expansive private rooftop terraces. Kitchens epitomize modern elegance and functionality with Italian cabinetry and premium appliances, and designer finishes throughout compliment the spacious master bedrooms that boast a unique open bathroom concept. With state-of-the-art technology and high-end finishes, residences are priced from the high $500’s with low association fees starting at $391 per month.
Located at 1030 15th Street, Ten30 South Beach is just minutes away from the famed Lincoln Road shopping district and top dining experiences at Sunset Harbor. The project is also just steps from 36-acre Flamingo Park, where residents can enjoy several activities including a state-of-the-art aquatic center, Bark Park dog park, baseball and football stadiums, basketball and racquetball courts, soccer and softball fields in addition to a tennis center and children’s playground.
Best of Florida Luxury Properties
March 2021
For 18 years, South Florida native Alexander Freund has worked closely with Miami’ssmall and medium-sized business community. 4it, the company he co-founded in 2003, provides enterprise-class IT infrastructure and technical support to organizations. With the city becoming a mecca for tech startups, business is good.
Ten30 South Beach Condominium Building Located in One of South Beach’s Most Vibrant Neighborhoods Announces Brisk Demand
March 2021
MIAMI BEACH, FL – Ten30 South Beach, a curated collection of 43 one-, two-, and three-bedroom condominiums nestled in one of South Beach’s most vibrant neighborhoods, is quickly selling out its inventory as demand for Miami luxury real estate heightens.
An enclave of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums by development firm Shoma Group, sales for the four-story boutique development have been fueled by the momentum received from the project’s top off in December and upcoming imminent opening this summer. Shoma Group along with the project’s exclusive residential brokerage, Fortune Development Sales, have reported a record pace for sales with 10 units sold in just 15 days. Ten30 South Beach now has more than 75 percent of its residences under contract as sales continue to climb.
Sales Steam Ahead: Ten30 South Beach Sells 10 Units In 15 Days
March 2021
Ten30 South Beach, a curated collection of 43 one-, two-, and three-bedroom condominiums nestled in one of South Beach’s most vibrant neighborhoods, is quickly selling out its inventory as demand for Miami luxury real estate heightens.
An enclave of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums by development firm Shoma Group, sales for the four-story boutique development have been fueled by the momentum received from the project’s top off in December and upcoming imminent opening this summer. Shoma Group along with the project’s exclusive residential brokerage, Fortune Development Sales, have reported a record pace for sales with 10 units sold in just 15 days. Ten30 South Beach now has more than 75 percent of its residences under contract as sales continue to climb.
Shoma Group Sells 10 Units At Luxury Boutique Condo Ten30 South Beach In 15 Days
March 2021
Ten30 South Beach, a curated collection of 43 one-, two-, and three-bedroom condominiums nestled in one of South Beach’s most vibrant neighborhoods, is quickly selling out its inventory as demand for Miami luxury real estate heightens. Shoma Group along with the project’s exclusive residential brokerage, Fortune Development Sales, have reported a record pace for sales with 10 units sold in just 15 days. Ten30 South Beach now has more than 75% of its residences under contract as sales continue to climb.
New Developments on Tap for Miami’s Sizzling Luxury Market
March 2021
These five projects cater to buyers heading to the Sunshine State for more space, better weather and modern amenities
As the Miami and South Florida market continues to heat up, buyers increasingly are seeking larger homes, an enduring trend since the beginning of the coronavirus pandemic last year.
“Covid has really impacted how families view their homes and how they use the space,” said David Martin, CEO of the Miami-based development firm Terra.
“We’re seeing a lot of buyers from California and New York,” he said. “They want their condos, and they want the amenities, and they want larger apartments.”
He described the new sweet spot for apartments as 2,200 to 3,500 square feet, up from 1,500 to 2,500 square feet. At Mr. C Residences in Coconut Grove, which Terra is developing, buyers are purchasing multiple units in the 20-story condo tower and combining them to up their square footage. The project launched sales in the first quarter of last year with 118 units, and 60% percent of the condos have now been sold, Mr. Martin said. Most of the new combined units are in the $2 million to $3 million range.
“I’ve never experienced a market this strong,” he said. “Miami has always been a kind of live-and-play place. Now the city is becoming a center for business and commerce, rather than just tourism. We’re seeing multi-sector job growth.”
For the $5 million-plus single-family market in Miami-Dade County sales in November, December and January were “up over 400% year-over-year,” said Ron Shuffield, president of Berkshire Hathaway HomeServices EWM Realty.
A year ago, for the $5 million-plus market, “we had seven years of supply,” Mr. Shuffield said. “Now we’re down to nine months of supply for single-family homes and 36 months for luxury condos. That inventory is decreasing daily.”
For single-family homes over $1 million, Miami-Dade County recorded an average 189 sales per month in November, December and January, compared to 87 a year ago, a 117% increase, he said. For condos over $1 million, there was an average of 115 sales per month during that same timeframe, compared to 65 a year ago, a 77% increase.
There has been an “increase in demand and a shrinking of supply,” Mr. Martin said. “We’ll start to see a steady growth in pricing.”
As buyers weigh their options with existing and new inventory, let’s take a look at five new projects that are launching sales now and in coming months.
Buyers Go Big – Large Condo Units in Greater Demand Across South Florida
March 2021
South Florida’s wealthy condo buyers are demanding more space, and this dramatic departure from past trends is shaking up projects across the region.
Buyers, mostly from high-tax states in the Northeast and California, have surpassed foreign purchasers as the primary source for condo sales during the Covid-19 pandemic. As people move down with their families, and often work from home, they increasingly seek more than one or two bedrooms. However, the local supply of three-bedroom condo units and apartments in new buildings is limited, as the prior trend was to build smaller units.
“We definitely had a shortage of larger inventory [condos] because, as Miami, Palm Beach and Broward have attracted more affluent people, there was more of a demand for luxurious, larger inventory,” said Alicia Cervera Lamadrid, managing partner of Miami-based Cervera Real Estate. “They are thinking of spending more time in Miami and moving here permanently.”
Monaco Yacht Club & Residences Design Q&A With Bernardo Fort Brescia, Founding Principal Of Arquitectonica
March 2021
The Côte d’Azur meets the shores of Miami Beach at Monaco Yacht Club & Residences, the highly anticipated twelve-story enclave of just thirty-nine luxurious waterfront residences and a private marina slated for completion Fall 2021.
We sat down with Bernardo Fort-Brescia, founding principal of the award-winning international architecture firm, Arquitectonica, to learn more about his design inspiration for the nautically-themed, boutique Bayfront condominium.
Spike in Miami condo sales bodes well for new developments
March 2021
Miami is on fire in terms of high-end luxury condo sales, continuing a trend that started in 2021.
Rishi Kapoor, CEO of Location Ventures, is the developer of Villa Valencia, a high-end condominium project in Coral Gables.
Kapoor said there is a migration of wealthy buyers from other states like New York and California, who are flocking to Miami. This creates a demand for luxury condos, he said.
“Buyers are looking for more space,” said Kapoor.
“The pandemic accelerated the trend of buyers to migrate to south Florida. Buyers enjoy the lifestyle, weather and tax effect. There is no income tax in Florida, unlike some other states. This savings will help to buy the condo unit,” he said.
Many high-end condos also have health and wellness features. “We work with Delos, out of New York, to provide our buyers with Circadian Rhythm Lighting, air and water purification systems. They are smart home equipped, furniture ready, and in a tropical setting,” Kapoor said.
Location Ventures is also launching a project in Fort Lauderdale. They have both local and international buyers. Latin America and Mexico are big feeder markets, said Kapoor.
Other new luxury condominiums in the works include Ritz-Carlton Residences in Miami Beach developed by Lionheart Capital. They sold 30 residences in the last 75 days, totaling over $130 million. The residences sold out its Penthouse Collection totaling over $51 million in sales, according to a press release.
“We are seeing a real sense of urgency from buyers as the Miami real estate market is heating up. The response to The Ritz-Carlton Residences has been tremendous,” said Ophir Sternberg, CEO and founder of Lionheart Capital, in a press release. “Our competitive edge is that our residences feel like bespoke homes coupled with the highest-quality finishes and five-star services provided by Ritz-Carlton.”
According to a press release, the homes are from two-five bedrooms ranging in size from 2,000 to over 10,000 interior square feet and have a selection of over 60 unique floor plans, starting at $2 million. Some notable residents include celebrity couple Cindy Crawford and Rande Gerber; Major League Baseball Hall of Fame recipient Mike Piazza; Miami Marlins’ Major League Baseball top draft pick Corey Dickerson; former Miss Germany Petra Levin; CEO and chairman of American Eagle Outfitters Jay Schottenstein; and celebrity sports agent Jason Rosenhaus.
Another community in Miami that has seen an upswing in sales is Missoni & Una Towers at $74 million sold.
“South Florida has always been a great place to live, but it’s becoming more obvious to a lot of people,” OKO Real Estate CEO Vanessa Grout said . In addition to Florida’s tax-friendly policies and lower business and living expenses, buyers are attracted by our lifestyle, diverse culture and business community — and overall quality of life. We expect the uptick in sales we’re seeing from domestic buyers looking to move their families and businesses to south Florida to continue in 2021.”
In addition, she said, “The pandemic coupled with people and companies looking to relocate from major U.S. cities — specifically in the Northeast and Midwest regions — to tax-friendly states with reduced business and living expenses, is enticing out-of-state residents to make the move to south Florida.”
“Now that remote work has become so prolific and many people work form wherever they choose, thanks to technology made more commonplace by the pandemic, we’re seeing buyers from cities like New York and Chicago, making the move to Miami.”
In addition to Una Residences and Missoni Baia condominium towers, OKO Group is also developing the 830 Brickell office tower in downtown Miami, and the recently approved Aman Hotel and Residences in Miami Beach.
However, the luxury condo boom is spreading beyond Miami. A new community on Jupiter Island, SeaGlass, Jupiter Island, has also seen an increase in sales.
Jim Cohen, president of residential for Fontainebleau Development, said, “SeaGlass, Jupiter Island is one of the first buildings to be constructed in the area in decades, and once completed, it will become one of the most coveted addresses in the area. The unique location of the site offers direct ocean and intracoastal views along with views of protected parks to the north and south with no neighboring buildings close by. When we were presented the opportunity to develop on this location there was no hesitation as a site like this is truly rare.”
“There is absolutely a demand for larger condominium residences today. Fortunately, we as developers have always specialized in the ultra-luxury market where the buyers are end-users who prefer larger-sized residences.”
In addition, Cohen said, “SeaGlass was designed from the inside out. First, we thoughtfully considered the usability of the residence floor plans, and then followed with an architecturally stunning building design. The aesthetic represents a casual elegance that relates to the building’s unique beachfront location. The lobby was designed to feel modern with a contemporary color palette inspired by the surrounding sea, beach and dunes, including the cast-glass chandelier that represents forms of sea glass.”
CMC Group And Morabito Properties Launch The Arquitectonica-designed Onda Luxury Condo On Bay Harbor Islands
March 2021
As the appetite for luxury residential real estate in South Florida mounts, CMC Group and Morabito Properties, two of the region’s most experienced developers, are joining forces to launch Onda, a new boutique luxury condominium in Miami’s Bay Harbor Islands. Designed by world-renowned architect Bernardo Fort-Brescia of Arquitectonica, the 8-story building’s enviable location will feature more than 300 feet of bay frontage, a private marina, and sweeping views of Biscayne Bay and the Atlantic Ocean. Construction of Onda is estimated to begin in Fall 2021, with completion slated for 2023.
Onda’s 41 impeccably finished residences include two- to four-bedroom layouts measuring between 1,809 to 3,525 square feet, with four penthouse residences up to 5,073 square feet in size – two of which will include private rooftop pool decks. Prices range from $1.8 million to over $8 million.
Onda will benefit from the track-record and expertise of Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties – two world-class developers driven by their Italian instincts for quality, style, and craftsmanship. Colombo and Morabito previously partnered in 2016 to lead the development of Beach House 8, a nearby boutique waterfront condo building on Collins Avenue in Miami Beach. Most recently, Colombo and CMC Group delivered Brickell Flatiron, a 64-story luxury tower in Downtown Miami’s Brickell Financial District.
“Diminishing single-family home inventory and growing interest in Miami’s luxury condo market have sparked the next wave of development, but few projects benefit from Onda’s prime waterfront location in one of the city’s most desirable neighborhoods,” said Ugo Colombo, Founder of CMC Group. “Bay Harbor Islands is Miami’s best kept secret. Surrounded by some of South Florida’s finest shopping, beaches and schools, the area is synonymous with an upscale, family-oriented lifestyle that appeals to buyers from across the country and around the world.”
Domestic Buyers Lead $74M Surge in Sales of Miami’s Missoni Baia, Una Residences Towers
March 2021
“The surge in sales reaffirms our belief in the region as a critical global gateway for business, travel and tourism, and residential living,” said Vanessa Grout, CEO of OKO Real Estate. “I have no doubt that Miami and the South Florida region have longevity and will continue to prosper.”
Two luxury condominiums have so far exceeded $74 million in sales within the last 60 days, with a majority of their units purchased by domestic buyers.
And Vanessa Grout, CEO of OKO Real Estate, the sales and marketing arm of OKO Group, LCC., said the recent surge in domestic buyers signifies how wealth migration impacts the Miami real estate market, as she cited nearly 1,000 people have been recently moving to Florida daily.
Edificios boutique:¿moda o tendencia en la construcción?
Marzo 2021
En los últimos años, los compradores de viviendas se habían visto atraídos por edificios más grandes en zonas densamente pobladas, pero ahora, como resultado de la pandemia, el mercado está volviendo a los edificios con menor cantidad de apartamentos y por supuesto menos vecinos. ¿Qué pasó; que está cambiando?
Redacción Negocia en Miami.-
Los compradores se sienten atraídos por la intimidad y el nivel de servicios que ofrecen estas construcciones. El aspecto más atractivo es que los edificios boutique garantizan una interacción limitada con los demás.
Leer articulo.
Oko Group And Cain International Complete $74 Million In Condo Sales Since The Start Of The New Year At Miami’s Missoni Baia And Una Residences
March 2021
Miami’s newest luxury condominium towers are tapping into a surge of domestic buyers fueled by the city’s desirable quality of life, lower business and living expenses, and Florida’s tax-friendly policies. At Missoni Baia and Una Residences, two new luxury towers under development by OKO Group and Cain International in Miami, approximately $74 million in sales have been completed in the last 60 days. The vast majority of units sold have been purchased by domestic buyers, reflecting the influx of new residents pouring into South Florida from cold weather and tax-burdened states.
This recent surge in sales from domestic buyers is the latest example of how business and wealth migration is fueling the South Florida condo market. The pandemic, coupled with people and companies looking to relocate from major U.S. cities – specifically in the Northeast and Midwest regions – to tax-friendly states with reduced business and living expenses, is enticing out-of-state residents to make the move to South Florida, with this trend expected to continue throughout 2021.
According to a recent report by brokerage ISG World, domestic buyers have taken over as the leading source of new condo purchases in Miami and Fort Lauderdale during the pandemic, with only 3.9 percent of recently completed units remaining unsold in December 2020. The latest statistics support that fierce competition and ballooning prices for single-family homes in South Florida are driving buyers toward condominiums instead.
“We’ve just had our best month of sales, and we’re seeing demand for condos intensify as the inventory of single-family homes continues to dwindle and Miami’s newest residents put emphasis on low maintenance, high-touch service and amenities that only a condo can offer,” said Vanessa Grout, CEO of OKO Real Estate, the sales and marketing arm of OKO Group. “Now that remote work has become so prolific and many people can work from wherever they choose, we’re seeing buyers from cities like New York, Chicago and San Francisco making the move to South Florida. They’re attracted by our lifestyle, our diverse culture and business community, and an overall quality of life.”
Now under construction, Missoni Baia and Una Residences are being developed by a partnership between OKO Group, one of South Florida’s most active and successful luxury development firms helmed by international real estate mogul Vladislav Doronin, and Cain International, a privately held investment firm with over $6.3 billion in real estate equity, debt and leisure business investments led by Jonathan Goldstein.
“This accelerated sales momentum reaffirms our strong belief in Miami’s innovation, culture and lifestyle and its future as a global gateway city. We are extremely pleased with the progress across our Miami portfolio and look forward to delivering two world-class developments to the city’s residential market and welcoming their residents in the near future.” said Jonathan Goldstein, CEO of Cain International.
Designed by Hani Rashid of Asymptote Architecture, Missoni Baia is a 57-story luxury residential tower now rising on Biscayne Bay in Miami’s Edgewater neighborhood. As the Missoni brand’s first-ever residential project, the Italian fashion house is incorporating its trademark colorful design palette and Missoni Home furniture collection into the tower’s vibrant interiors, including all public spaces and amenity areas. The waterfront tower’s 249 residences range from one- to five-bedroom layouts measuring between 776 and 3,788 square feet in size. Units are priced from approximately $950,000 to upwards of $9 million. Construction of the 649-foot-tall tower is well underway and is expected to be completed in late 2021.
The 47-story Una Residences tower, designed by internationally renowned Adrian Smith + Gordon Gill Architecture (AS+GG), is situated on Miami’s waterfront in the city’s picturesque and private South Brickell neighborhood. Private elevators open up into the glass tower’s 135 spacious residences, which range from two- to five-bedrooms and measure between 1,100 to 4,786 square feet in size – with all units boasting unobstructed views of the Atlantic Ocean, Biscayne Bay and the Miami city skyline. Units are priced from $2.2 million to $7.4 million, with two ultra-exclusive penthouses with private pools priced up to $21.6 million. Construction of the 579-foot-tall tower is underway, with completion expected in 2023.
Additionally, OKO Group and Cain International are developing 830 Brickell, a class A-plus office tower also designed by Adrian Smith + Gordon Gill Architecture, currently under construction in the heart of Brickell’s Financial District. OKO Group’s plans to bring an Aman Hotel & Residences to Miami Beach were also recently approved by the City of Miami Beach. Construction of the ultra-luxury development is expected to start this year.
Cain International was recently appointed to lead the strategic reposition of the famed Delano hotel in Miami’s South Beach, adding to the firms growing hospitality footprint across global gateway cities. Cain’s additional US hospitality investment assets include the Waldorf Astoria Beverly Hills, the Beverly Hilton Hotel, and the Raffles Hotel and Residences Boston Back Bay. The firm has also partnered with OKO Group on the financing of the Aman Hotel & Residences in New York City’s historic Crown Building.
Domestic Buyers Lead $74M Surge in Sales of Miami’s Missoni Baia, Una Residences Towers
March 2021
“The surge in sales reaffirms our belief in the region as a critical global gateway for business, travel and tourism, and residential living,” said Vanessa Grout, CEO of OKO Real Estate. “I have no doubt that Miami and the South Florida region have longevity and will continue to prosper.”
Two luxury condominiums have so far exceeded $74 million in sales within the last 60 days, with a majority of their units purchased by domestic buyers. And Vanessa Grout, CEO of OKO Real Estate, the sales and marketing arm of OKO Group, LCC., said the recent surge in domestic buyers signifies how wealth migration impacts the Miami real estate market, as she cited nearly 1,000 people have been recently moving to Florida daily. The competition is so fierce in this market, some out of state buyers are making purchases with all cash as supply dwindles.
GDF Properties scoops up Broward multifamily portfolio for $17M
March 2021
GDF Properties scooped up a 29-building Broward County multifamily portfolio for $17.3 million.
Records show Miami-based GDF Properties, through affiliate Broward Multifamily, bought the small apartment buildings totaling 189 units in two $8.6 million deals. The portfolio spans Hallandale Beach, Dania Beach, Hollywood and Fort Lauderdale.
The Iver A. Tinglof Trust and the Joyce M. Tinglof Trust, both through successor trustee John Van Tunglof Sr., sold the portfolio to GDF Properties in off-market deals. Each trust sold about an equal portion of the properties, records show.
Chilean developer launches first South Florida condo project in Bay Harbor Islands
March 2021
These five projects cater to buyers heading to the Sunshine State for more space, better weather and modern amenities
Edgardo Defortuna, Claudio Cordero and Carlos Balart with a rendering of the project Ambienta Developers is launching sales of its first condo development in South Florida in Bay Harbor Islands, The Real Deal has learned.
Ambienta Bay Harbor Islands, a planned 30-unit building at 9901 West Bay Harbor Drive, is expected to break ground in June, said Carlos Balart, executive vice president of Santiago, Chile-based Ambienta.
The firm also plans to also launch a 79-unit condo project with retail in Brickell, and a roughly 270-unit development elsewhere in Miami.
Preconstruction Condo Market is ‘On Fire” As millionaires Flock to Miami in Droves
February 2021
Millionaires have been “flocking to Miami in droves” since the pandemic began, causing sales at pre-construction condo projects to skyrocket, according to the Herald. Here’s a list of some of the new or under-construction projects that have benefitted from the trend in the past few months:
Five Buildings That Are Welcoming New Architects and Designers to Miami
February 2021
2000 OCEAN
The first superluxury condo on Hallandale Beach (a mere sand pebble’s throw from Miami), 2000 Ocean—a soaring 64-unit glass tower situated enviably close to the sea—was poised for excellence. And Minotti, the elite Italian furniture maker that developer Shahab Karmely of KAR Properties commissioned for what would be the brand’s first US residential project, is well-versed in excellence. Residents of 2000 Ocean will reap the benefits, as each unit is outfitted with all-stone Minotti Cucine custom kitchens and Minotti Cucine full-slab stone master bath floating vanities, and personalized Minotti design services are also available to residents. “Minotti’s extensive range of products and materials allowed us to create something truly worthy of this remarkable waterfront property,” says Babak Hakakian, partner at ddc and Minotti Miami.
ARTE SURFSIDE
The exquisitely designed Arte Surfside, an exclusive 12-story, 16-residence building, is like nothing the beachside town has ever seen: a property with the singular European sensibilities of master Italian architect Antonio Citterio of ACPV. Citterio’s goal for Arte—his first US project—was to elevate the effortless coastal way of life. “I think of Arte as a way to bring a sense of Mediterranean living to the United States,” says Citterio. Developers Alex Sapir and Giovanni Fasciano, who set out to appeal to the world’s most discerning buyers, had to look no further than the man behind several incredible Bvlgari hotels and resorts. “Antonio Citterio was the natural choice,” says Sapir. “His design stands out along the coastline and will continue to be talked about for decades to come.”
Sales of ultra-luxury condos are soaring. What does that mean for the rest of Miami?
February 2021
The days of driving past Brickell through half-dark condo skyscrapers may be coming to an end.
A sudden explosion in the luxury condo residential market, which has quietly gone supernova, and a growing uptick in the condo sales to buyers priced out of single-family homes suggests a lot of those lights may be turning on.
A surge in pre-sales in December and January at various ultra-posh projects under development in Brickell, Edgewater and Miami Beach is another indicator of the new wave of wealthy out-of-towners opting to make South Florida their primary home for at least half of the year.
Adrian Smith + Gordon Gill Architecture’s yacht inspired tower rises in Miami
February 2021
Inspired by the iconic Riva yacht, Una Residence is a 47 story tower defined by a sculptured façade of clear modern lines and ribbon-like curves The tower will be the Brickell neighbourhood’s first waterfront residential tower in over a decade. Developers OKO Group and Cain International have enlisted architects Adrian Smith + Gordon Gill (AS+GG) to design the project.
Closings Coming In Hot At Quadro Miami Design District!
January 2021
Alta Developers, the South Florida-based developer led by Principal & CEO Raimundo Onetto and behind leading developments such as One Paraiso, Vesta at Neovita Doral, and Pacifica Boynton Beach, and Fortune Development Sales, the exclusive sales and marketing for Quadro Miami Design District, started closing units at Quadro in the 4th quarter of 2020.
Realty’s New Reality: Video Sells $38 Million 57 Ocean Penthouse Makes Virtual Debut
January 2021
It’s realty’s new reality. Video sells. Multiplan Real Estate Asset Management, the innovative developer behind 57 Ocean on Miami Beach’s historic Millionaire’s Row, who made national headlines last Springby shipping a pair of Oculus goggles to a California buyer who in turn purchased a million dollar plus residence sight unseen, is nowbetting big onthe power of video, debuting the building’s new spectacular penthouse in a $180,000 state-of-the-art video that infuses reality with the virtual world.
Realty’s New Reality: $38 Million 57 Ocean Penthouse Makes Virtual Debut
January 2021
57 Ocean redefines sky-high opulence with virtual unveiling of its spectacular $38 million oceanfront penthouse
Fortune International Group Announces $6.6 Million Sale in Herzog & Demeuron Designed Jade Signature
December 2020
Shoma Group officially topped off construction at Ten30 South Beach, a luxury boutique condominium scheduled to open in 2021. The developer teamed up with the project’s exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. The topping-off ceremony included real estate brokers, VIPs, community leaders and partners in the project invited to a socially distanced cocktail party with music and hors d’oeuvres.
Reverse Snowbirds Making Ling-Term Moves to the South
December 2020
Alex Sapir, CEO of Sapir Corp., used to be a snowbird, spending winter vacations in sunny Florida to escape frosty New York City. Two years ago, he switched the pattern and moved with his family to Miami.
“We decided we wanted a better lifestyle for our kids, one where they didn’t need every minute programed in order to go outside,” said Mr. Sapir, co-developer of Arte by Antonio Citterio, a 16-unit oceanfront condo in Miami Beach.
Ten30 South Beach Hosts Socially Distant Party to Celebrate Top Off
December 2020
Shoma Group officially topped off construction at Ten30 South Beach, a luxury boutique condominium scheduled to open in 2021. The developer teamed up with the project’s exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. The topping-off ceremony included real estate brokers, VIPs, community leaders and partners in the project invited to a socially distanced cocktail party with music and hors d’oeuvres.
Alta Developers begins closings at Quadro at Design District
December 2020
A year after completing a residential project near the Miami Design District, Alta Developers started recording closings at Quadro. The firm, led by principal and CEO Raimundo Onetto, originally planned the 198-unit, 12-story development as a rental tower, then changed course and launched sales earlier this year as a condo project offering long-term and short-term leases. Plans for the building at 3900 Biscayne Boulevard were first announced in 2016.
Vivir en un lugar saludable, un must después del COVID-19
Noviembre 2020
Debido a la pandemia del COVID-19, el mundo ha cambiado así como la manera en la que vivimos y por lo tanto también nuestros hogares.
Las medidas para contener la propagación del coronavirus siguen cambiando, al igual que las respuestas de inversionistas, promotores, bancos, desarrolladores y compradores.
Para ofrecer a sus inquilinos lugares seguros para su salud, los constructores siguen líneas de bienestar y seguridad.
El mundo está cambiando, la manera en que vivimos también, pero ¿cómo se han transformado las viviendas debido a la pandemia?
El COVID-19 hizo que las personas buscarán espacios abiertos, condominios que les permitieran conectarse con la naturaleza y aire fresco, además de tener la capacidad de refugiarse en espacios seguros para su salud.
Una Residences to feature Miami’s deepest parking garage
November 2020
Learn how OKO Group and Cain International plan to build Miami’s deepest parking garage.
A new construction project in Miami is going deep.
A 47-story story Una Residences condominium luxury tower will include a three-level subterranean basement, which will become Miami’s deepest, most expensive underground garage. The construction will reach nearly 50 feet and three stories below sea level, encompassing 100,000 square feet for the Una Residences condominium.
Monaco Yacht Club & Residences Brings The Best of Europe to Miami
November 2020
In Miami, living by the water has always been the epitome of luxury real estate, and Monaco Yacht Club & Residences delivers on that regard with a 12-slip marina and optimal views of the Atlantic and Biscayne Bay from every unit. The 12-story, 39-residence tower (with prices starting at $1.1 million) was developed by Optimum Asset Management, which tapped the renowned Piero Lissoni to create interiors that are both contemporary and welcoming. Managing Director Matthew Barry filled us in on what else potential buyers can expect.
Photos of the Newly Completed 52-Story Ritz Carlton Residences in Sunny Isles, where Over $500M in Units Already Closed
November 2020
Quadro Miami Design District is reporting strong sales in the last month.
There were 30 units sold at Quadro in 30 days, the developer announced in a press release on November 1.
In total, 45 units have been sold in the building, a spokesperson for the developer said. “Despite the pandemic and travel restrictions, these transactions clearly indicate that out of state and international buyers continue to invest in this market and want to have a home in South Florida.,” said Edgardo Defortuna, President, CEO and Founder of Fortune International Group, which is handling sales.
Quadro was completed in the fourth quarter of 2019, and launched sales in March.
The development of Miami’s most expensive and deepest underground parking garage is underway
November 2020
Una Residences condominium will soon have Miami’s deepest underground parking garage with construction underway. The garage will reach nearly 50 feet and three stories below sea level and will become the most expensive underground parking garage in Miami costing developers $25 million to build. The subterranean parking garage will be 100,000 sq.ft. and house 236 cars for Una Residences, located on Biscayne Bay waterfront in Brickell and estimated to be complete in 2023.
Evolved Living in Miami
November 2020
Developed by Fortune International Group and created by Herzog & de Meuron, Jade Signature—a contemporary 57-story award-winning skyscraper located at 16901 Collins Avenue in Sunny Isles Beach, Florida—has been a hot-spot for luxury buyers since opening in 2018.
Ten30 South Beach Debuts Sales Gallery in South Beach
October 2020
Ten30 South Beach unveiled their sales gallery with a socially distanced open house. The event was hosted by Fortune Development Sales and welcomed about 75 brokers over two days. Guests were the first to see the project’s residences and refined finishes. Ten30 South Beach is developed by the Shoma Group and designed by Shoma Interior Design.
Yacht-inspired luxury tower makes a splash in Miami
October 2020
Construction recently began on a new tower by AS+GG (Adrian Smith + Gordon Gill), the firm behind the Jeddah Tower. Named Una Residences, it will have an unusual nautical-inspired design and provide well-heeled residents with luxurious apartments on Miami’s waterfront. Una Residences is located in Miami’s Brickell neighborhood. The building will rise to a total height of 579 ft (176 m) and is inspired by Italian yacht maker Riva’s yachts, both in terms of its exterior and interior design.
Maluma is, well, chilling. From his home in Miami, the Colombian superstar reflects on the importance of slowing down and reconnecting.
October 2020
Maluma is ready to perform for you now. From the elevator doors of the sky villa—a 53rd-floor penthouse duplex at the jade signature—emerges the 26-year-old Colombian superstar. Wearing designer head to toe, he radiates swagger and sex appeal. A brooding sensuality precedes his every movement. Today’s hair is freshly shorn and bleached. (last week it was dyed pink.) the entourage follows: a publicist, a personal photographer and two other young women who have a “don’t fuck with me” vibe and absurdly cool style. Juan Luis—as his team calls him—is no diva, but he is no mere mortal either. It appears that the team is here to make sure you are very aware of that distinction.
Home Ownership: Rethinking the American Dream
October 2020
For decades, it was a given: buying a home of your own was the ultimate realization of the American dream, the surest path to building savings and net worth. If there was no place like home, there was also no investment like a home.
Then came a series of events that shook that truth to the core, fundamentally shifting the choices of a new generation, the millennials, born between 1981 and 1996.
The first was the 2008 housing crisis, which left wide swaths of the American public financially battered. Millennials, then in their teens and 20s, watched as friends and families lost their homes and the world fell into an economic slide.
Design District’s Quadro sold 15% of its units in a single month. Winter may encourage more
October 2020
Out-of-state buyers are showing up for the Design District’s newest condominium, Quadro.
In the last 30 days, Fortune Development Sales has signed contracts for 30 units, or 15% of inventory, in the 12-story tower at 3900 Biscayne Boulevard. The 198-unit building now has 35 units under contract, starting at $375,000 for a 548-square-foot studio. The sales gallery opened for private tours in June. Buyers are coming primarily from New York, New Jersey, Chicago, Mexico, Ecuador, Chile and Brazil.
Miami Developer on an Upcoming Inventory Glut, Understated Luxury and More
October 2020
Edgardo Defortuna sees more buyers coming to Florida from other parts of the U.S. and single-family homes rising in popularity.
Edgardo Defortuna is president, CEO and founder of Fortune International Group, a Miami-based real estate firm formed in 1983, with development projects in South Florida, Latin America and Europe.
For more than three decades, Fortune International Group has worked in sales, management, and development, operating and building in neighborhoods across South Florida, including Brickell, Key Biscayne, Coral Gables, Miami Beach, Aventura and Sunny Isles Beach. Fortune has 18 offices worldwide and more than 1,000 agents. Its development portfolio 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.
Maluma – October in Miami is a wonderful time of the year.
October 2020
The weather is slightly less oppressive, so it’s great to be able to spend more time outdoors. One outdoor activity not to be missed is the Fort Lauderdale International Boat Show (Oct. 28 to Nov. 1), the 61st edition of the largest boat show in the world. It’s a must-attend if you love being out on the water, or even if you just love looking at amazing yachts. It’s also a reminder that, with school back in session, restaurants open for in-room dining and our local sports teams playing, we are settling into our new normal.
Construction on Missoni Baia passes halfway point milestone in Edgewater, on track for 2021 delivery
October 2020
Vertical construction on Missoni Baia, a 57-story waterfront glass tower now rising along Biscayne Bay at 777 NE 26th Terrace in Miami’s Edgewater neighborhood, has reached the milestone halfway mark. The building’s general contractor, Civic Construction, has completed the skyscraper’s 28th floor, with about one full level expected to be completed every week going forward until top-off in March 2021.
Monaco Yacht Club & Residences Brings a Taste of the Côte d’Azur to South Florida’s Shores
October 2020
Miami Beach’s newest Bayfront boutique condominium, Monaco Yacht Club & Residences, brings a taste of the Côte d’Azur to South Florida’s shores.
This exclusive enclave of thirty-nine luxurious waterfront residences and a private marina was designed by two of the most esteemed names in design, Piero Lissoni and international architecture firm Arquitectonica. The 12-story boutique Bayfront building is located at 6800 Indian Creek Drive.
Jade Signature North Sky Villa is Ultra- Luxury Home in the Sky
October 2020
Jade Signature is Miami’s most architecturally extraordinary oceanfront address created by Pritzker Prize-winning architect Herzog & de Meuron, with interiors by Parisian interior design firm PYR, led by Pierre-Yves Rochon. Developed by luxury leader Fortune International Group, only a handful of homes remain for sale within the ultra-luxury condo development, including several turnkey homes by renowned interior designers.
Making waves – 2000 ocean selects top interior designers for the ultimate model unit showcase featuring Minotti Miami.
October 2020
Highlighting the work of eight top interior designers, the 2000 Ocean Interior Design Showcase for 2000 Ocean by Enrique Norten conceptualizes life inside the stunning beachfront high-rise. Each designer was asked to curate individual residences within the 38-story residential enclave, incorporating palettes, stylings, furnishings, artwork and materials of their own choosing in collaboration with select Minotti Miami pieces.
ICONIC COLLECTION – Custom-curated art is the hottest amenity in luxury high-rises.
October 2020
Miami’s tallest condominium, the Brickell Flatiron
September 2020
The 64 storey, 736 ft high skyscraper, built by CMC Group founder and veteran Miami developer Ugo Colombo, was delivered in November 2019.
CMC Group’s newly completed Brickell Flatiron condominium in Downtown Miami’s Brickell Financial District has successfully closed on four upper penthouse residences totaling $31.6 million in finalised sales.
The world’s most opulent brands have joined with Miami’s prominent developers to elevate our skyline
September 2020
Miami’s developers have been in the business for years, but the latest industry trend of partnering with an international brand lends to a different collaboration with creative minds that see real estate from a different perspective. So whether it’s a luxury sports carmaker or fashion mogul, labels are flocking to our skyline to create standout, sophisticated flagship properties that are captivating the world.
During a Pandemic, Lobbies Set Expectations for How Buildings Tackle Virus Contamination
August 2020
In high-end residential buildings across the U.S., lobbies are far from mere entrances. They offer lavish welcomes, set lofty expectations and embody the overarching aesthetics of the residences that sprawl beyond them. But in the age of coronavirus, much like individual homes and shared amenities, lobbies are assuming new sensitivities and features that bow to the ways the virus has reshuffled our priorities.
From materials to technology to air flow, lobbies in new developments, and older constructions alike, are now testaments to the degree of seriousness with which developers and homeowners’ associations guard against Covid-19.
5 Residential Developments With Top-of-the-Line Amenities
July 2020
THESE LUXURY DEVELOPMENTS PROVIDE THEIR RESIDENTS WITH RESORT-STYLE LIVING.
- 57 Ocean
To be located on Millionaires’ Row in 2021, the highly anticipated 71-residence condominium boasts expansive terraces, Italian kitchens, baths by Poliform, a holistic spa with products by One Ocean Beauty and a wellness pavilion where residents can receive vents in poolside cabanas. Collins Ave, from $1.5 million, Fortune Development Sales…
Developer: Wellness is a must for new condo development in South Florida
July 2020
Measures to contain the spread of the coronavirus continue to shift — and so do responses by investors, developers, builders, banks and buyers. To track the impact, RE|source Miami is asking area real estate professionals in various sectors for on-the-ground reports.
Today we hear from Shahab Karmely, founder and CEO of the real estate investment and development firm KAR Properties. KAR Properties is developing 2000 Ocean in Hallandale
Beach and One River Point in downtown Miami. The New York-based firm has acquired, invested and developed other condos for 50 years across the globe.
Design Impact – Taking luxury living to new levels
June 2020
Taking luxury living to new levels, explore a few world-class residential developments in the heart of the urban core that have savvy investors from around the world ready to jetset toward paradise in style.
- Sunset skyline view of Panorama Tower.
- Two-bedroom apartment at Panorama Tower. Individual units range from 1,100 sq. ft. to over 2,100 sq. ft.
- A private dining room located within Panorama Tower’s amenities level is available for resident use and can be reserved for private events.
- One of three private movie theaters located within Panorama Tower’s amenities level.
- An aerial view of Panorama Tower’s expansive pool deck.
As the tallest building in the State of Florida and the tallest residential building south of Manhattan, Panorama Tower is a game changer for both The Magic City skyline and the future of luxury rental living.
Alta Developers’ Quadro at Design District Now Signing Contracts
June 2020
Alta Developers, led by Raimundo Onetto, has announced that the two-tower, 198-unit residences at Quadro in Miami Design District, which officially launched sales in March, is now signing contracts and paying 25 percent of the total commission to outside brokers. Quadro at the Miami Design District is a distinct resort-style condominium.
A PLACE IN THE SUN – Ten3o South Beach offers modern urban living just a few blocks from the shore
June 2020
After years of concentrating its efforts in Doral with projects such as City Place Doral, The Flats, The Manor, Oasis Park Square, and One Park Square at Doral. Developer SHOMA Group is turning its attention east to the coast with Ten30 South Beach, a curated collection of 43 condominiums spread out over four stories in an architectural complex that recalls New York…
Quadro Resort-Style Condo – IN THE HEART OF DESIGN DISTRICT
June 2020
Luxury home buyers are changing their wish lists after the pandemic. Some items are rising from the bottom of the list to the top.
The biggest trend? More buyers are shopping for single-family homes, said Hillary Hertzberg, sales-associate of the Jills Zeder Group. All residential sales dropped for Miami-Dade and Broward counties in April 2020, but the number of transactions for single-family homes still outpaced that of condos for both communities, according to the Miami Realtors Association April 2020 report. More square footage and outdoor space are drawing buyers to single-family homes, Hertzberg said.
Brokers await uptick in condo activity as sales galleries open in South Florida
June 2020
Brokerage firms are reopening sales galleries after a two-month COVID hiatus, betting that personal interaction with finishes and model units will lead to an uptick in sales.
“The thing a sales gallery offers is that meeting with finishes. You can’t replace what it feels like to touch and interact with your kitchen or bathroom. People would want to see these finishes and models before making a purchase,” said Matthew Barry, managing director at investment firm Optimum Asset Management USA, the developer of Monaco Yacht Club & Residences.
Over the past two weeks, sales centers for 57 Ocean, Aston Martin Residences, Brickell Flatiron, Jade Signature, Missoni Baia, Paramount Miami Worldcenter and the Ritz-Carlton Residences Sunny Isles Beach have reopened their doors. Others set to resume this week include Una, Monaco Yacht Club & Residences and Quadro.
The pandemic changed what Miami’s buyers want in a home. Developers are taking notes
May 2020
Luxury home buyers are changing their wish lists after the pandemic. Some items are rising from the bottom of the list to the top.
The biggest trend? More buyers are shopping for single-family homes, said Hillary Hertzberg, sales-associate of the Jills Zeder Group. All residential sales dropped for Miami-Dade and Broward counties in April 2020, but the number of transactions for single-family homes still outpaced that of condos for both communities, according to the Miami Realtors Association April 2020 report. More square footage and outdoor space are drawing buyers to single-family homes, Hertzberg said.
The activity may lead to long-term preferences.
Movers & Shakers: Top One Sotheby’s team joins Compass, shakeup at CBRE & more
May 2020
A top team at One Sotheby’s International Realty joined Compass. The Ivan and Mike Team, which was One Sotheby’s No. 2 team in 2019, joined Compass earlier this month. The four-person team, led by Ivan Chorney and Michael Martirena, closed more than $100 million in sales last year.
David Bateman left NAI Partners in Houston to become managing director of CBRE for Broward and Palm Beach counties. Bateman will oversee CBRE’s three offices and more than 70 employees.
Coronavirus Pandemic Prompts Developers to Rethink the Future of Homes
May 2020
For developer Scott Gillen, the coronavirus pandemic is redefining what he sentimentally describes as “home is home.”
A residence is no longer a place to simply “eat, shower and sleep” before venturing into a bustling world for school, work and social events, said Mr. Gillen, who owns development firm UnvarnishedCo based in Malibu, California. As the deadly virus outbreak has confined Americans inside, homes— be they houses or condos—are now returning to what they meant to be when Mr. Gillen, 60, was growing up, he said.
Miami Condo Still Under Construction, Penthouse Sells For $10 Million
May 2020
The building isn’t expected to be completed until May 2021.
According to the Miami Herald a condo building that is still being built has already announced that the penthouse unit has been sold for $10 million. The penthouse is located on the top of Missoni Baia, a 57-story tower in northeast Miami. The two-story, 7,791 square-foot unit on the 56th and 57th floors features east-to-west views and has three bedrooms and four bathrooms. Amenities include an infinity-edge pool, movie theater, game room, gourmet kitchen, library and gym. Building amenities include an Olympic-size swimming pool, gym with Pilates and yoga rooms, private cabanas, tennis courts and a pet spa.
Watch: Webinar With Luxury Development 2000 Ocean Creators Enrique Norten, Shahab Karmely, And Edgardo Defortuna
May 2020
The visionary minds behind the under-construction luxury development 2000 Ocean joined Haute Residence for an exclusive webinar to talk about the project.
Enrique Norten, Shahab Karmely and Edgardo Defortuna, industry leaders in design, development, and marketing of fine living, were hosted by Haute Living’s Seth Semilof and April Donelson, going deep into detail about the 38-story glass tower located in Hallandale Beach, Florida.
Oko Group, led by billionaire developer Vladislav Doronin, has broken ground on the Una Residences condo project in Brickell
May 2020
It’s the first major condo project to start construction in Miami’s urban core this year. Even before the Covid-19 pandemic slowed real estate transactions, it was a difficult environment for many condo developers to sell in. There was an oversupply of condos on the market and volume from foreign buyers has declined.
Few developers have announced new condo projects in Miami this year.
Yet, Oko Group has been selling Una Residences at 175 S.E. 25th Road for several years and has built considerable momentum for a rare bayfront site. It acquired the 1.04-acre property for $48 million in 2015 and demolished an older condo there.
Miami Developer secures $58.5M to Finish Condominium on Millionaires Row
May 2020
MIAMI BEACH, FL-Even in the midst of the current COVID-19 pandemic and economic slowdowns, there is still an appetite to buy million-dollar seaside condo units with five-star amenities.
Bank OZK, a construction lender of marquee properties, financed a $58.5 million construction loan to Multiplan Real Estate Asset Management to complete the final stage of 57 Ocean, a 70 unit, 18 story ultra-luxury condominium overlooking the Atlantic Ocean on Miami Beach’s Millionaires Row.
57 Ocean Condo Secures $58.5 Million Construction Loan From Bank OZK
May 2020
Miami Beach’s 57 Ocean, a luxury seaside condominium located on Millionaire’s Row and developed by Multiplan Real Estate Asset Management, has announced that it has obtained a $58.5 million construction loan from Bank OZK, arranged by JLL Capital Markets. The financing will support the finalization of the 18-story project, which is already 50% complete and has reached the 11th floor this week. The 70-unit building is scheduled for completion in September of 2021.
Post Covid-19 Plan, a Special Issue of SBFW with Advice and Insights
May 2020
The COVlD-19 pandemic will accelerate the ongoing trend of wealthy northeasterners moving to South Florida, some developers and brokers are predicting.
Pandemic Could Spur More Moves to South Florida
May 2020
New York Developer Shahab Karmely of KAR Properties, said, “People who can, and who are fortunately able to. Will leave New York City.” The top destination for New Yorker will be the Hamptons on Long Island. which is where Karmely was when he was interviewed via telephone. He says the No. 2 spot will be South Florida, in particular, the Miami area. Wellington, Palm Beach and Boca Raton.
“I am willing to bet this will be Miami’s busiest July and August in the past 30 years. Karmel says. “The shutdown will make people realize that quality of life, climate and open space are important elements of life. Miami compares very, very well to other wealth centers of the United States in offering that quality of live and urban area outdoor lifestyle.”
Lounge Act, the Latest Launches to Create an Outdoor Sanctuary plus Enviable Water Views at 57 Ocean Miami Beach
May 2020
Spring 2020 at Home Issue
April 2020
Picture the scene: Edgardo Defortuna and his wife, Ana Cristina, his closest collaborator, were in Paris at the Four Seasons Hotel George V. This is the hotel that turned Paris on its ear. Its 1920s heyday was long past, so when it was announced, in the late-1990s, that the property would be resurrected to rival the City of Light’s famed “palace hotels,” Paris sniffed. Then the George V reopened; Paris, which enjoy novelty even more than snobbery, cheered.
For their part, the Defortunas were suitably impressed. Many well-to-do couples would have left it at that. But when you’re the founder, CEO and president of Fortune International. one of the top development firms in Ronda and Latin America, you want to meet the interior designer.
Standing Strong, Miami puts Community First and Brings Time, Talent & Treasure to the Forefront
April 2020
Such Great Heights – Spectacular city and ocean views at Panorama Tower offer a stunning backdrop for a modem Brickell lifestyle during the most stylishly dynamic season of the year.
Hallandale On The Rise, Something is Happening in a Town a Little North of Miami.
April 2020
GAME-CHANGER: Construction continues on 2000 Ocean, the private residential enclave by New York-based developer KAR Properties that’s poised to become Hallandale Beach’s newest Icon. The first residential project in the United States furnished by Italian design brand Minotti, the luxury property features 64 beachfront residences focused on vacation-style living. The 38-story glass tower features half-floor residences, full-floor penthouses-and one jaw-dropping duplex sky villa with its own private pool deck.
Take It From Florida: Yes, You Can Sell Condos Online Right Now
April 2020
Many Americans have transitioned to working via Zoom, exercising via Zoom and having their dog meet with his psychologist via Zoom. Can you also sell real estate via Zoom? Experts in South Florida, where foreign buyers have long invested in condos over long-distance deals, say it can be done. They have a few tips.
Inter Milan’s Alexis Sánchez Buys Sunny Isles Beach Condo
April 2020
He paid $2.45M for a unit on the 26th floor of Ritz-Carlton Residences, Sunny Isles Beach
Inter Milan soccer player Alexis Alejandro Sánchez Sánchez, known as Alexis, scored a new home in South Florida, The Real Deal has learned.
Sánchez, who plays for the Chilean national team and is on loan from Manchester United, paid $2.45 million for unit 2604 at the Ritz-Carlton Residences, Sunny Isles Beach, at 15701 Collins Avenue, according to property records.
The 31-year-old forward, whose nickname is “El Niño Maravilla” (meaning the Wonder Child) is Chile’s all-time scorer with 43 goals. He was part of the team that reached the 2017 FIFA Confederations Cup. He also previously played for Barcelona.
Alta Developers’ Virtual Sales In Full Motion Quadro At The Miami Design District
April 2020
Alta Developers, led by Raimundo Onetto, South Florida’s innovative real estate development firm, has announced that it has launched sales virtually to reach buyers across the globe looking for sound real estate opportunities. Quadro at Miami Design District unveils a series of videos, and virtual tours and tools such as a high-tech interactive floor-plan and sitemap modeler to offer homebound prospects looking for their new home amidst the latest social-distancing era.
The Ritz-Carlton Residences In Sunny Isles Beach Is Now Complete
March 2020
It’s finally happened – the completion of Miami’s hottest residential high-rise: The Ritz-Carlton Residences, Sunny Isles Beach. With its four penthouses already sold, and the other standalone condominium residences almost sold out, the 52-story residential tower boasts unprecedented luxury living along 250 feet of Sunny Isles’ pristine beachfront.
Ritz-Carlton Residences, Sunny Isles Beach Gets TCO, Starts Closings
February 2020
UPDATED, Feb. 24, 4:55 p.m.: Ritz-Carlton Residences, Sunny Isles Beach secured its temporary certificate of occupancy and can now start closings at the 52-story luxury oceanfront condo development.
Developed by Fortune International Group and Château Group, the 212-unit tower at 15701 Collins Avenue is nearly sold out and has recorded more than $150 million in preconstruction sales over the past year, according to a release. It broke ground in 2016.
Monaco Yacht Club & Residences Breaks Ground In Miami Beach
February 2020
In what was an early Miami Beach afternoon exemplary of what awaits its future unit owners when it is complete, Optimum Development USA, the developer of Monaco Yacht Club & Residences, recently celebrated the groundbreaking of the exclusive enclave’s thirty-nine luxurious waterfront residences and a private marina in collaboration with two of the most esteemed names in design, Piero Lissoni and Arquitectonica.
Miami’s Super Amenity: Private Marinas At Residents’ Doorsteps
February 2020
Monaco Yacht Club & Residences in Miami Beach, slated for completion in early 2021, will offer a marina with a dozen boat clips MONACO YACHT CLUB & RESIDENCES
What’s the newest must-have amenity for Miamians? In the wake of just concluded twin mid-February events, the Miami International Boat Show and the 32d Annual Miami Yacht Show, many observers are prepared to assert it is one’s own private marina. Grasping the appeal for would-be buyers, developers are increasingly setting sail with that luxe amenity in South Florida’s newest crop of condominiums.
Luxury Condo With Marina Breaks Ground In Miami Beach
February 2020
The Monaco Yacht Club & Residences has broken ground on the north side of Miami Beach.
The condominium will rise 12 stories at the 1.1-acre site at 6800 Indian Creek Drive, which fronts Biscayne Bay. The 39 units are priced from $1.1 million to nearly $4 million. Units will range from 918 square feet to nearly 5,000 square feet. The penthouses will have private terraces with summer kitchens.
Monaco Yacht Club & Residences By Optimum Development Usa Announces Groundbreaking
February 2020
Monaco Yacht Club & Residences, an enclave of 39 luxurious waterfront residences with a private marina, has announced that it will be breaking ground imminently. Optimum Development USA, Moss, the appointed general contractor of the condominium, and Fortune Development Sales will host a groundbreaking event this week to commemorate the start of construction on the site, which is located at 6800 Indian Creek Drive.
Real Estate 2020!
REALTY CHECK! Vertical Living in Miami Reaches New Heights.
Why luxury brands want to sell you a home
A 25-meter swimming pool stretches out before us, its immaculate tiles glinting in the soft, artificial light. Empty loungers with untouched, crisply folded towels are dotted around and the air is freshly scented, like an expensive beach club. But this is no beach: we are five floors beneath the rainy grey streets of London’s Knightsbridge. A few minutes earlier, a scarlet Rolls-Royce Phantom glided past the entrance.
South Beach sanctuary
Miami-based Shoma Group held the groundbreaking for Ten30 South Beach, 43 studio, one- and two-bedroom condominiums at 1030 15th St., Miami Beach. The design by Saladino Design Studio features a 6,000 square-foot rooftop deck with a rose-colored pool, lounge and an outdoor kitchen area complete with barbecue and yoga space.
Missoni Baia Will Have 300 Concrete Trucks Onsite Today For A Foundation Pour
In Edgewater, the 57-story Missoni Baia tower is completing a 12-hour foundation pour today that will allow vertical construction to get underway.
Almost 300 concrete trucks began arriving this morning in groups of 30 to 40 for the pour, which will last around 12 hours. A total of 5,825 cubic yards (the equivalent of nearly 416 school buses) is being delivered.
The bottom mat foundation pour will be used to support a large portion of the vertical building structure, including the columns, walls, and elevator shaft.
Missoni Baia will eventually rise to 649 feet, equal to the height of the tallest tower in Edgewater (Elysee also just topped off at that height).
Missoni Baia’s parking garage has already topped off at seven stories.
Asymptote Architecture is designing the tower, which will include 249 units. Completion is scheduled for mid-2021.
Developer OKO Group is also building UNA Residences in Brickell, the 830 Brickell office tower, and will also be building an Aman-branded resort and residences at the former Versailles in Miami Beach.
5,800-ton concrete pour set for Missoni Baia condo tower
Developers landed a $243M construction loan in November
Rendering of Missoni Baia with a concrete truck and Vlad Doronin (Credit: Getty Images and iStock)
UPDATED, Jan. 15, 11:40 a.m.: Two months after scoring a construction loan, the developers of Missoni Baia will begin a 12-hour, 5,825-ton concrete pour for the condo tower’s base.
The concrete pour starts at 7 a.m. on Wednesday and will end at 7 p.m. Nearly 300 trucks working in groups of 30 or 40 will deliver and pour roughly 2,600 cubic yards of concrete and 750 tons of rebar for the project. Ant Yapi/Civic Joint Venture LLC is the general contractor handling the pour, according to a spokesperson.
Billionaire Vlad Doronin’s OKO Group, Oleg Baybakov’s OB Group and Cain International are developing the 57-story, 249-unit building at 777 Northeast 26th Terrace in Edgewater. In November, they scored a $243.3 million construction loan from Security Benefit Life Insurance Corporation for the project.
The concrete pour will create the bottom mat foundation of Missoni Baia, which will be used to support the vertical building structure, including columns, walls and the elevator shaft, according to a release. Construction has been underway on the project and the seven-story parking garage has topped off.ADVERTISING
Missoni Baia will also include an amenities deck with a flow-through pool deck, cabanas, an Olympic-sized pool, plunge pools, children’s areas, and an elevated tennis court. Units are priced from the $500,000s and up, and range from one to five bedrooms, and from 775 square feet to 3,788 square feet.
Missoni Baia is being designed by New York-based Asymptote Architecture, led by Hani Rashid and Lise Ann Couture, a firm known for such projects as the Yas Hotel Abu Dhabi that straddles a Formula One racetrack. Interiors will be designed by Paris Forino, and Enea Garden Design is handling the landscaping.
The building is expected to be delivered by the middle of 2021.
OKO Group’s other South Florida projects include Una Residences, a condo building planned for Brickell, the office tower 830 Brickell, and an Aman-branded hotel and condo project at 3425 Collins Avenue in the Faena District.
Broad surge of optimism fuels Miami-Dade residential real estate
Leaders of Miami-Dade’s residential real estate companies are optimistic about 2020, and much of their optimism is driven by a surge of newcomers – some of them with deep pockets – fleeing tax problems or other situations.
The Most Exclusive Reservation
Ocean Drive takes you inside the most over-the-top restaurants in Miami’s newest luxury developments. By Page Watkins
In the Magic City, it’s not enough to live like royalty…
The developers of the Ritz-Carlton Residences, Sunny Isles Beach unveil striking Pablo Atchugarry sculpture for Miami art week
Marking the culmination of one of the most exciting weeks of the year in Miami, dozens of art world influentials, local luminaries and friends joined leaders with Fortune International Group, Château Group and internationally renowned artist Pablo Atchugarry for the unveiling of “Dreaming the Future,” Atchugarry’s latest sculpture.
Luxury Real Estate Agents Hold Twilight Open Houses To Showcase Their Multimillion-Dollar Listings
Valery Neuman, founding partner and broker associate of Compass Greater Palm Springs area is one of the desert’s top producers with annual sales totaling over $100 million.
Homefield Advantages
Most multimillion-dollar condos look enchanting from the outside, but unless they come with someone to cook dinner, babysit, reserve flights, supply poolside coladas and charter a yacht, they might not be so special after all – at least when it comes to Miami these days.
Ugo Colombo completes 64-story Brickell Flatiron condo tower
527-unit tower is about 95% soldTRD MIAMI
Ugo Colombo, Brickell Flatiron and Vanessa Grout (Credit: Golden Dusk Photography)
UPDATED, Oct. 31, 11:17 a.m.: Developer Ugo Colombo completed Brickell Flatiron, a 64-story, 527-unit tower, marking one of the last major projects to be delivered this cycle.
Colombo’s CMC Group received its temporary certificate of occupancy for the 736-foot-high skyscraper, which means that closings are set to begin immediately, said Vanessa Grout, president of CMC Real Estate. The building at 1000 Brickell Plaza is about 95 percent sold, according to a press release. Sales launched in 2014.
Fortune International Group took over sales and marketing of the condo tower in 2017, over a year after the developer broke ground. Fortune is working with CMC Real Estate on the remaining sales.
Colombo, a developer who owns the luxury car dealership The Collection, in April 2017 secured a $236 million in construction financing, which included a $138.5 million mortgage and a $97.5 million mezzanine loan from Bank OZK and Goldman Sachs/RFR Realty.ADVERTISING
Earlier this year, CMC lowered the deposit requirements to 30 percent, down from the market’s standard of 50 percent, in a move to attract more U.S. buyers for the remaining units. At the time, Flatiron was 87 percent sold. Remaining units range from $790,000 to $3 million, with one duplex penthouse left asking $8 million.
Brickell Flatiron was designed by architect Luis Revuelta with amenity spaces by Massimo Iosa Ghini. It’s the tallest condominium tower south of New York City.
The 64th-floor rooftop features a spa, pool and 6,300-square-foot gym with a Pilates, yoga and aerobics studio, and a juice bar. The building also includes a lap pool and children’s pool on the 18th floor, a movie theater, billiards and cigar room, wine cellar, and electric car charging stations.
Elysee Investments acquired the 24,800 square feet of ground-floor retail and restaurant space at Brickell Flatiron in 2016.
CMC Group’s developments include the Bristol in Brickell, Santa Maria, Epic Residences and Porto Vita. In 2014, Colombo sold the site of his once-planned Epic East project in downtown Miami for $125 million to the Coto family of Argentina, which is now building Aston Martin Residences on the property.
Grout said CMC Group is already working on plans for future condo projects, but declined to identify specific sites.
“We actually have a few interesting opportunities we are looking at and something we’ll be announcing soon,” she said.
Timing Ripe as Shoma Group Launches Ten30 South Beach
Masoud Shojaee, President of Shoma Group -who over the past 31 years has developed more than 10,000 homes and condominiums,and completed over $4 billion in real estate transactions -believes the time is ripe for his new concept of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums.
“We saw a void in the marketplace for a project like this and believe the timing is ripe to introduce this curated collection of just 43 condominiums,” said Shojaee, one of Florida’s leading real estate developers whose vast portfolio of completed projects include the prestigious CityPlace Doral, The Flats, The Manor,Oasis Park Square and One Park Square at Doral. “There is nothing else like Ten30. We have an exceptional location in one of the hottest cities on the planet, and are offering a spectacular combination of modern design with a price point that is nothing short of compelling.”
In a nod to the development’s name,Ten30 South Beach will break ground on Wednesday, October 30th at precisely 10:30 am.
Rising four stories,Ten30 South Beach will offer studios, one- and two-bedroom units ranging in size from 626 square feet up to 1,196 square feet and priced from the $400’s with low association fees of less than $400 per month. The project, exclusively marketed and sold by Fortune Development Sales, features a sprawling 6,000 square-foot rooftop deck with a rosé-colored pool, lounge, outdoor kitchen area complete with barbecue and yoga space. Residences come with expansive terraces and covered parking.
Designed by architectural and interior design firm Saladino Design Studio, Ten30 echoes the beauty of its surroundings. The building will be surrounded in greenery, natural woods and finished concrete throughout. The outdoor courtyard by the building’s entrance boasts a lounge area and a living green wall. The lobby interiors will showcase colorful, eclectic, Mid-Century stylish furniture and artwork.
“Ten30’s distinctive design will pay homage to Palm Springs and the Miami Beach of yesterday with a modern twist and a boutique oasis feel,” said Mike Saladino of Saladino Design Studios.
“We look forward to the materialization of this project and its aesthetic addition to the neighborhood,” added Sean Saladino of the namesake firm.
Ten30 offers residents the style and prestige of an exclusive address surrounded by the premier shopping, dining and dazzling attractions of Miami Beach. The famed Lincoln Road shopping district is just minutes away as well as top dining experiences at Sunset Harbor. Ten30 is also conveniently located steps from Flamingo Park, where residents can enjoy several activities including a state-of-the-art aquatic center, Bark Park, baseball and football stadiums, basketball and racquetball courts, racquetball courts, soccer and softball fields as well as a tennis center and children’s playground.
With state-of-the-art technology and high-end finishes, each residence will offer sophisticated technology, including the Samsung Family Hub refrigerator, which allows residents to send messages, order Uber rides, play music or see inside their fridge and browse the internet for recipes using available ingredients. Italian-designed chef caliber kitchens, Bluetooth enabled keyless entry with cameras that offer complete control through a homeowner’s mobile phone and spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.
“This project isdesigned to ensure residents can experience all that South Beach has to offer,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Ten30 truly sets itself apart with an unparalleled location and luxurious design and is an ideal primary or secondary home. It is a privilege to manage their sales and marketing efforts.”
Ten30 South Beachis located at 1030 15th Street, Miami Beach, FL 33139. For more information, please visit Ten30SouthBeach.com or visit the Fortune International Realty Miami Beach offices at 110 Washington Avenue, Miami Beach, FL 33139.
About Shoma Group:
Established in 1988, Shoma Group is an award winning real estate development company specializing in residential and commercial projects. Over the past 31 years, Shoma has developed more than 10,000 homes and condominiums and more than one million square feet of retail and office spacewith $4 billion in completed real estate transactions. Completed projects include the prestigious City Place Doral, The Flats, Park Square, One Park Square at Doral,Doral View,and The Manor.Shoma has seven current projects including Shoma Village, Shoma Retail, Shoma Douglas, Venera, Sanctuary Doral, Sanctuary Food Hall, and Ten30. Led by President and Chairman of the Board, MasoudShojaee, Shoma Group has built a reputation as one of South Florida’s most trusted developers. Founded on the simple principle that properties should enrich the lives and communities of the people within them, Shoma has mastered the art and craft of home and commercial building. For more information visit www.shomagroup.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 some of South Florida’s most successful projects: Missoni Baia, Una Residences, 57 Ocean, 2000 Ocean, Monaco Yacht Club, 1 Hotel & Homes South Beach, Brickell Flatiron, SLS Lux & Gran Paraiso, among others 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.
Check out Brickell’s newest luxury condo inspired by an iconic Italian yacht
Sea levels are rising, but new development along Miami’s extensive waterfront doesn’t appear to be slowing down anytime soon. In the always hot Brickell neighborhood, Una Residences is primed to become the first new condominium in the particularly exclusive Park Avenue area in a decade, and more over-the-top than all of its neighbors. Not only is Una set to become the tallest building along its stretch of Biscayne Bay…
Residential living with hotel perks: How the ultra-rich live
When it opens in 2021 in Hallandale Beach, Fla., 2000 Oceans will have two pools, beachside butler service, a spa, gardens around the property and valet service.
If that sounds to you like a luxury hotel, you’d be wrong. 2000 Oceans — developed by KAR Properties — will be a residential building.
This kind of resort-style living may seem exorbitant, but Shahab Karmely, the principal and founder of KAR Properties, told FOX Business that it comes down to people’s focus on lifestyle and experience.
“When people are buying homes, they’re investing in lifestyle,” Karmely said.
“These resort-style condominiums combine the elements of private ownership, a privacy of experience and hotel experience services, without having the intrusiveness of being in a hotel, with strangers around you, [where] it’s crowded and it’s transient,” he added. “So we’ve combined the best of both worlds in our offerings and that’s as much about lifestyle as it is about homeownership.”
Owning a condo at 2000 Oceans — a beachfront property — will certainly have a lifestyle of its own. Aside from the pools, spa and beachside — as well as poolside — butler service, the property will have a tranquility garden, a sculpture garden, an oceanfront art library, a catering kitchen and a cafe and juice bar, according to its website.
Units — and there are only 64 of them — will have private elevator vestibules, full views of the beach and furnishings by high-end Italian designer Minotti.
The units start at a size of 3,000 square feet, with either full-floor or half-floor condos. The starting price for a unit at 2000 Oceans is currently expected to be $2.6 million.
But when it comes to luxury, Karmely said, it’s not about being expensive, it’s about having high value.
“Luxury, like a great meal or a symphony, is a combination of many elements — like a great meal is a combination of ingredients. Setting, mood, lighting, preparation, pairing of wine, so many different things,” he said.
“Luxury is like that, it’s a combination of many elements in order to achieve luxury — it’s quality, it’s design, it’s materials, it’s safety, it’s security, functionality,” Karmely added.
The trend of resort or hotel-style residences, Karmely said, began with Indonesian hotelier Adrian Zecha, who introduced higher levels of luxury in hotel rooms, including larger bathrooms and larger closets — amenities that had typically been reserved for presidential suites.
As people began to visit those hotels and get those experiences in luxurious suites, they began to wonder why their homes couldn’t be similar — which is how lifestyle became a part of real estate, Karmely said.
“Luxury and living space have melded together into forming this way of living,” he explained. “So what was considered to be resort living before … has really become a requirement.”
“People today really have come to expect that the way I live is about my style,” Karmely added. “And my style’s a combination of where I am, how well this place — this condominium or this building or this home that I’m living in — is built.”
In fact, aside from 2000 Oceans, there are several luxury hotels that have also opened similar high-end condos, Business Insider reported.
Those residences include the Ritz-Carlton in Sunny Isles and Miami Beach, Fla., the Four Seasons in San Francisco and Mandarin Oriental in New York City, according to the website.
However, even as expectations rise, Karmely said there’s a contrast between true luxury and how often the word is used.
“Everybody calls themselves luxury,” he said. “It’s very easy to say… but the bar keeps getting raised. There’s always going to be those who set the pace and I think we’re among those.”
Demolition is now underway at Brickell site where 613-foot Una condo tower will be built
Work is now underway at the waterfront Brickell site where an ultra-modern condo tower called Una will be built.
City records show that a permit was granted final approval this morning, allowing for total demolition of an older condo building on the property.
Video uploaded to social media by Una in-house broker Monson Group showed a crane had arrived at the site earlier this week, and demolition work on the seawall had commenced.
An 11-story building on Biscayne Bay will be dismantled floor by floor to make way for the new tower.
The Una condo sales center had been located in the older building but was moved last month to allow for the work to begin.
Una is being designed by Adrian Smith + Gordon Gill Architecture, which also designed the world’s tallest tower.
The 46-story Una tower will rise 613 feet. A total of 135 condo units are being sold.
To be demolished:
Tower crane installed at 649-foot asymptote-designed Missoni Baia in Edgewater, foundation pour in November
OKO Group continues to make significant construction progress on their 57-story Missoni Baia condo tower in Edgewater.
A tower crane was recently installed to assist in vertical construction, and the foundation for the tower is nearing completion.
Contractors have scheduled a foundation pour for November. A crew of over 200 workers will assist in pouring an estimated 7,360 cubic yards (29,767,500 pounds) of concrete, with five active concrete pumps working continuously. In total, the pour is estimated to last for approximately 21 hours.
A parking garage for the project has now reached the seventh floor, and forming of the elevated tennis court is now underway, along with garage shell work.
When complete, the tower will rise 649 feet. The development will include 249 one- to five-bedroom residential condos ranging in size from 775 to 3,788 square feet, priced from the $500,000s and up.
The project is being designed by Asymptote Architecture, with landscaping by Enea Garden Design and interiors by Paris Forino.
Downtown Miami’s Brickell Flatiron Tower Draws On U.S. Buyers
As Downtown Miami’s Brickell Flatiron tower approaches the end of its 64-story, 736-foot-high climb with 90 percent of its 527 units sold, developer Ugo Colombo’s CMC Group is setting its sights on buyers from within the United States to close out the building’s remaining inventory. The developer has reduced the building’s deposit requirement to 30 percent and secured approval from the Fannie Mae Project Eligibility Review Service (PERS), which streamlines the loan approval process and opens the door to a wider array of reliable financing sources.
Photo courtesy of Brickell Flatiron
These developments coincide with a recent surge of domestic investment at the tower. American buyers purchased 32 units valued at $50 million in 2018, up from 18 units valued at $23 million in 2017. Since the project’s inception in 2014, U.S. buyers have accounted for $290 million in total sales – making the U.S. the building’s top feeder market by a wide margin.
“The enhanced purchasing power that comes with a strong U.S. dollar, the tax advantages of Florida residency, and Downtown Miami’s growing appeal as an urban, cosmopolitan district are all contributing to an influx of domestic buyer activity at Brickell Flatiron,” says Vanessa Grout, president of CMC Real Estate.
Photo courtesy of Brickell Flatiron
“With the tower’s completion now months away, we’re looking to markets like New York, Chicago, Boston and Los Angeles for our final sales push, making the case that Miami offers tax savings, comparative value for the high-end residential product, and an unbeatable quality of life,” Grout added.
Photo courtesy of Brickell Flatiron
Upon its completion, Brickell Flatiron will be the tallest condominium south of New York City. With its distinct flatiron shape and curvilinear façade, the Luis Revuelta-designed building topped-off construction at 736-feet-tall in December 2018 and is on track to deliver in summer 2019.
Argentine soccer star puts Missoni Baia condo under contract
Joaquin Correa, who plays professionally for Rome-based soccer club SS Lazo, reserved a unit in the $1.5M to $1.7M price range
Joaquin Correa with a model of Missoni Baia.
UPDATED, July 22, 12:30 p.m.: Argentine soccer star Joaquin Correa put a condo under contract at Missoni Baia, a 57-story project under construction in the Edgewater neighborhood of Miami.
The developer, OKO Group, declined to disclose the price Correa contracted to pay but said the type of unit he reserved has been priced in the range of $1.5 million to $1.7 million.
Correa, 24, is a midfielder for Rome-based soccer club SS Lazio and has scored five goals since he joined the Serie A team last year. His team was the champion of the Copa Italia 2018-2019 tournament, during which Correa played in four matches and scored two goals.
Correa was represented by Fortune International Realty’s Tango Consulting Group, which was formed by Sergio Waissmann, Marco Francescoli and Kevin Waissmann.
He isn’t the only acclaimed soccer player who has put a unit at Missoni Baia under contract.
Colombian soccer star Miguel Borja, a professional player with the Brazilian club Sociedade Esportiva Palmeiras, recently reserved one of the 249 units in Missoni Baia, which is expected to open for occupancy in 2021.
The one- to five-bedroom condos at Missoni Baia range in size from 775 square feet to 3,788 square feet, and prices start in the $500,000s.
The project’s amenities includes a spa, an Olympic-size swimming pool, private cabanas, a children’s pool and tennis courts, a 1,700-square-foot gym and a spa for pets. – Mike Seemuth
Glasshaus in the Grove lands construction financing
July 2019
The 5-story, 23-unit condo is being developed by Javier Lluch and Daniel Ribeiro
By Keith Larsen
Javier Lluch and Glasshaus in the Grove
The developers behind Glasshaus in the Grove secured a $13.2 million construction loan to finish building the boutique luxury condo project.
The loan was provided by Boynton Beach-based Trez Forman Capital. It was arranged by David Larson of NKF Capital Markets.
Javier Lluch and Daniel Ribeiro are developing the five-story, 23-unit condo building at 3161 Center Street that is expected to be completed by the beginning of 2020, according to Larson.
Ribeiro is the chairman of G.D8, a Brazilian development and construction firm headquartered in São Paulo. Lluch is the chairman of Miami-based Element Development.
The condo development, known for its minimalist European design, was designed by Coral Gables-based architecture firm Varabyeu Partners.
Units will range from one to three bedrooms with residences ranging from 1,080 square feet to 2,953 total square feet, including balconies and terraces. The amenities also include a zen garden, below ground parking and a rooftop pool. Units start at just under $600,000.
Trez Forman is also the lender for another condo project in Coconut Grove, Arbor Coconut Grove. The lender provided a $21 million loan in March for the 48-unit building that will be located behind CocoWalk.
Movers & Shakers: Allen Morris Co. taps new COO & more
Ritz-Carlton Residences in Sunny Isles hired a general manager
By Katherine Kallergis
Peter DiCorpo and Nathalie Rader
The Allen Morris Company named Peter DiCorpo chief operating officer of the Coral Gables-based firm.
DiCorpo was previously COO of Waypoint Residential, where he managed corporate and property operations focused on rental housing, and expanded the property management division to include student housing. He was also previously president of CBRE Global Investors’ U.S. core investment platform.
The Allen Morris Company also hired Loaidyn Bolado as human resources manager.
Nathalie Rader was named general manager of The Ritz-Carlton Residences, Sunny Isles Beach, according to an announcement from joint developers Fortune International Group and Château Group. The 52-story luxury condo tower, which will include a spa, kids club, private club on the 33rd floor, a beach restaurant and more, will be completed at the end of the summer. Rader was previously general manager of The Ritz-Carlton Residences, Chicago.ADVERTISING
Engel & Völkers tapped Cheryl Bosa to lead its sports and entertainment division in Fort Lauderdale. Bosa was an agent with Berkshire Hathaway HomeServices Florida Realty.
Karen Weller is now chief financial officer of the multifamily development team at Housing Trust Group as the company expands nationally. Housing Trust Group, led by President and CEO Matthew A. Rieger, has developed more than 7,000 affordable and market-rate units in Florida, and more than 2,000 units are in the pipeline. Weller was previously vice president of accounting for the Related Group.
The Hopkins Team, led by Dondi Hopkins, traded Coldwell Banker for Compass. The 22-agent team brought 36 listings to Compass, and will focus on west Broward County. Since the team was founded in 2006, it has closed sales totaling more than $100 million, according to a release.
Cement pour at Ocean 2000 site takes 13 hours, 240 trucks and 500 tons of steel
Suffolk Construction orchestrated the cement pour on Saturday from 2 a.m. to 3 p.m., one of the city’s largest in a decade
Ocean 2000 cement pour
New York-based developer KAR Properties poured cement for the foundation of Ocean 2000, a beachfront condo development in Hallandale Beach.
Suffolk Construction oversaw a 13-hour cement pour at the development site, 2000 South Ocean Drive, that required 240 trucks and 500 tons of steel.
The cement-pouring marathon from 2 a.m. to 3 p.m. on Saturday was one of the largest cement pours in Hallandale Beach in the last decade.
Led by Shahab Karmely, KAR Properties expects to finish construction of 2000 Ocean in mid-2021.
Architect Kobi Karp and Ten Arquitectos designed 2000 Ocean, a 38-story, 64-unit building with two swimming pools and a spa pavilion. Services will include valet parking, 24-hour security, and round-the-clock concierge service and lobby staffing.
Last December, KAR Properties got a $103 million construction loan for the 2000 Ocean project from New York-based real estate investment trust Apollo Commercial Real Estate Finance. The developer broke ground in November.
KAR Properties launched sales of 2000 Ocean units in October 2017 and then hired Fortune International Group in August 2018 to take over sales. Pre-construction prices start around $2.6 million.
Property records show that Karmely bought the beachfront development site in 2014 for $34 million. – Mike Seemuth
Una Residences, el lujo de vivir en Miami
June 2019
El significado del lujo cobra un nuevo sentido al conocer este proyecto residencial.
ARQUITECTURA/INTERIORISMO: Adrian Smith + Gordon Gill Architecture
Si hay una ciudad donde el lujo permea cada aspecto de la vida diaria, ese lugar se llama Miami, Florida. Sitio elegido para construir uno de los residenciales más espléndidos del continente americano.
Una Residences es un proyecto desarrollado por OKO Group y Cain International. Por su parte, la arquitectura e interiorismo corren a cargo de la firma Adrian Smith + Gordon Gill Architecture quienes buscaron reflejar un estilo elegante, de líneas limpias e inspiradas en la vida marítima.
Desde la distancia, la icónica torre de Una Residences será reconocible por su superficie metálica y silueta ondulada que recuerda el movimiento de las olas del mar de las playas de Florida. El edificio se constituirá de 47 pisos y albergará 135 residencias con ascensor privado que brindarán vistas espectaculares hacia Biscayne Bay.
En los interiores, los acabados de alta gama incorporan diversos materiales como madera, porcelana y mármol, que crean una atmósfera cálida y sofisticada.
Las amenidades son otro punto esencial para este residencial pues cada una de ellas fue cuidadosamente planeada. Los residentes podrán disfrutar de espacios exclusivos como diversas piscinas, jacuzzi, sala de cine, zona lounge al aire libre, un fitness center con entrenadores personales, spa con sauna, salón de belleza, áreas para pasear mascotas, marina privada, entre otras.
El diseño del residencial se verá acentuado con un paisajismo bellamente diseñado por Enzo Enea, quien buscó proveer de diversos espacios verdes para los habitantes de Una Residences donde podrán relajarse y disfrutar de las cálidas tardes de Miami. Además, al encontrarse en el corazón de Brickell Waterfront, Una Residences tendrá fácil acceso a diversas zonas clave como Coconut Grove, el centro de Miami, el aeropuerto de Miami y Key Biscayne.
Se tiene planeado que la construcción de la moderna torre residencial concluya en 2021.
unaresidences.com
Alianza promete promover internacionalmente el mercado local inmobiliario de lujo
En una alianza estratégica que representa un gran puente hacia la proyección del país y su mercado de bienes raíces de lujo, la empresa Dominicana Páez Luxury Real Estate anuncia alianza con la prestigiosa empresa Fortune International Group, en una fusión para promover los proyectos de lujo en Miami y República Dominicana.
“Atraer inversión extranjera al país al igual que promover la inversión de clientes locales en ciudades como Miami, es de los grandes compromisos que en Páez hemos asumido. Nos honra trabajar de la mano de una empresa de tanto prestigio como Fortune International Group, liderada por el señor Edgardo Defortuna, un líder en el sector inmobiliario de lujo en Miami. Sin dudas haremos una gran sinergia que se traducirá en beneficios para el sector inmobiliario”, expresó Francisco Páez, CEO de Páez Luxury Real State.
La alianza fue anunciada oficialmente en un evento privado realizado en las instalaciones de Porsche Center Santo Domingo, dirigido a clientes de ambas empresas y figuras claves del sector, quienes disfrutaron de una cena de cuatro tiempos por la reconocida chef dominicana Inés Páez Nin “Chef Tita” y del maridaje de la marca premium Macallan, que a través de su embajador en el país, Rafael Rodríguez, creó una experiencia entre su gama de destilados; así como el toque exclusivo de la tienda Altritempi para dar inicio de lo que sería la celebración de esta alianza entre dos grandes.
La actividad sirvió también como plataforma para presentar 5 de los más exclusivos proyectos de lujo en la ciudad de Miami (Una Residences, Missoni Baia, 57 ocean, Mónaco Yacht Club y 5350 park)que formarán parte de la cartera de Páez Luxury Real Estate.
“Nos impresiona conocer cómo la filosofía de una empresa inmobiliaria de lujo como Páez Luxury Real State se parece tanto a la nuestra, cómo en estas dos empresas no se trata de vender si no de asesorar, de ser aliados de los clientes y generar inversión. Estoy seguro que esta alianza ha sido un gran paso y que impactaremos juntos y con éxito estos dos mercados”, expresó Edgardo Defortuna, presidente y CEO de Fortune Internacional Group, y recientemente galardonado como uno de los líderes del sector inmobiliario de lujo de mayor influencia en la ciudad de Miami.
Ugo Colombo Brings Italian Design and Aesthetics To Miami’s Cosmopolitan Skyline
Downtown Miami’s hottest neighborhood celebrates a true architectural icon with the highly-anticipated Brickell Flatiron on track for completion this summer. Nestled in the heart of Brickell, this luxury sky oasis is set to revolutionize Miami’s iconic skyline. Developed by the visionary mastermind, Ugo Colombo and designed by Luis Revuelta, Brickell Flatiron will showcase a 64-luxury tower with top-of-the-line materials and finishes hailing from Milan. Haute Residence caught up with one of the Magic City’s visionary masterminds who dished on what sets the renowned Brickell development apart from others in the city, the inspiration behind the iconic project and what’s next for him.
Ugo Colombo, an Italian-born real estate residential and commercial developer based in Miami, Florida
HR: What sets Brickell Flatiron apart from other developments in the city?
UC: Since arriving in Miami, I have envisioned Brickell’s potential as a high-end residential neighborhood. Our development firm, CMC Group, began investing here in the early-1990s with Bristol Tower and Santa Maria – the first luxury towers to rise in this part of the city. We took a risk at the time, but we felt that this setting could be unique for its urban environment and proximity to the water. We believed that Brickell would be capable of luring premium buyers, provided that we delivered a premium product.
At the time, downtown Miami was not proven as an urban neighborhood. Our firm viewed Brickell and Downtown as a ‘blank canvas’ that would one day come to life as a vibrant residential and commercial district where streets were alive 24 hours a day. Today, those dreams are a reality. More than 150 towers have since risen as Miami’s urban core has become a mini-Manhattan. It was only a matter of time, given Miami’s land constraints and the trend toward urbanism. In the 25 years that have passed, the Brickell brand has become synonymous with luxury living, premium dining and retail, and international tourism and business.
Brickell Flatiron, our newest development getting ready to deliver this summer, will benefit from top-notch amenities, premium imported finishes and functional living spaces. But above all, it will stand out for its unique lifestyle – it will be woven into the urban landscape. Our residents will walk outside their door and find themselves in the heart of a major city – a few steps away from the best shopping, restaurants and nightlife that Miami has to offer.
Brickell Flatiron’s Sky Spa Rooftop Pool
HR: What was the developing process like and the inspiration behind the iconic project?
UC: CMC Group has always developed at our own pace, typically building only one or two developments at a time. Some firms race to build the most product in the shortest amount of time, but we believe there’s value in being deliberate when it comes to planning, designing, constructing and selling a project. This allows us to emphasize the highest degree of quality over speed and volume. If a project takes a little more time and money to construct, so be it. In the end, the finished product will be stronger and more valuable to the end user.
In terms of inspiration, I like to think a real estate development is a reflection of a moment in time. That has been the case with all of our projects, and I believe Brickell Flatiron is a reflection of Miami’s coming of age as a cosmopolitan city with a thriving downtown at its heart. The name echoes Manhattan’s famous Flatiron building – and the similarities go well beyond the shape. In Brickell, you can live without driving, you have public transportation across the street from your building, you can walk to 20 amazing restaurants in the neighborhood. The lifestyle is becoming very much like New York – except you can be at the beach in minutes!
Inside look at a jaw-dropping Brickell Flatiron Penthouse
HR: How will residents get to experience the ultra-luxurious Italian experience at Brickell Flatiron?
UC: Brickell Flatiron will benefit from top-notch amenities, premium imported finishes and functional living spaces. We pay particularly close attention to sourcing the best materials from Italy– Italian marble, Venetian stucco, and the highest quality glass available in the market. I have personally handpicked every detail to make sure we deliver the best quality product.
Brickell Flatiron aerial skyline views
HR: As one of Miami’s key developers, what do you see next for the city?
UC: In line with what we’ve experienced over the past 25 years, Miami will continue to grow as well as it’s skyline. The city’s population is expected to eclipse to 100,000 in the next three years. I also imagine we will see further innovation in construction and engineering techniques, which will continue to raise the bar when it comes to design, amenities, and efficiency.
Brickell Flatiron’s Community Room area
HR: What’s next for you and your projects?
UC: We’re seeing luxury buyers today moving away from the beachfront and placing great value on the benefits of urban living – proximity to offices and hotels, arts and culture, shops and restaurants. Many of these buyers are coming from cities like Chicago, New York and Boston. The urban lifestyle is familiar to them, and they can purchase a top-line unit in Miami for far less than what it would cost in New York.
As far as what’s next for me, my main focus right now is putting the finishing touches on Brickell Flatiron. We’re looking forward to seeing it deliver and open to residents this summer.
Brickell Flatiron
Home Is Where They Know Your Name (and Face, Hands and Fingerprints)
Biometric technology is expanding to every corner of the home, using body identifiers to open the door, say hello, unlock the wine cellar and reveal the screening room.
Chris Pollack hates carrying keys. So during the yearlong gut remodel and expansion of the Greenwich, Conn., home he bought for $1.825 million in 2012, Mr. Pollack built a new entryway with a biometric access system: a wall-mounted Suprema BioLite fingerprint reader with a glowing scanner that cost about $2,500 to install.
It’s almost instantaneous—you put your finger on the sensor and within a second it triggers the lock,” said Mr. Pollack, 49, managing partner of Pollack+Partners, which builds and oversees high-end residential…
Read the full article here.
Brazilian developer redesigns Miami Beach condo to include more luxury units “Sky residences” are priced from nearly $7M to $8.5M
“Sky residences” are priced from nearly $7M to $8.5M
Marcelo Kingston and a rendering of 57 Ocean (Credit: DBOX)
The developer of a boutique luxury condo project in Miami Beach is adding units based on increased demand, a rarity during a condo market slowdown.
Multiplan Real Estate Management is adding 10 “sky residences” to 57 Ocean, now a 71-unit development planned for 5775 Collins Avenue, managing partner Marcelo Kingston said. That brings the number of sky residences to 18, up from 8.
Penthouse Living Room Wine Cooler (Credit: DBOX)
Kingston said the developer decided to reconfigure the building’s design after selling more than half of those units, which range from $6.95 million to $8.5 million. The “sky residences” have more than 5,000 square feet of indoor and outdoor space, four bedrooms, a family room, and 12-foot-deep terraces facing the city and the ocean. They’ll be located on the south and north corners on the upper floors of 57 Ocean.
Kingston said the project’s presales speak to the quality of the building in an oversaturated marketplace. Developers have largely held off on launching new condo projects in Miami’s high-end, coastal markets due to the slowdown in new development condo sales.
But Kingston said that he’s seeing an increase in buyers from New York. That could be due to an increase in “tax refugees” – a.k.a. ultra wealthy buyers who are flocking to states with no income tax like Florida due to changes in the tax code.
Gourmet Kitchen (Credit: DBOX)
Penthouses at 57 Ocean range from $15 million to $35 million. And a penthouse duplex, which can be customized by size, is also available.
Multiplan, led by Brazilian billionaire José Isaac Peres, launched sales of 57 Ocean with Fortune Development Sales in October and unveiled a multimillion-dollar sales center in January.
The beachfront property was previously home to the Marlborough House condo building, which unexpectedly collapsed at once during its planned demolition last year, killing a project manager. Earlier this year, the family of that project manager filed a wrongful death lawsuit against the contractor and subcontractors, as well as the developer.
Miami Developer Ugo Colombo on What the Next Generation Wants
Life without a car, and services are becoming more important for home buyers, he says
Mr.Colombo with his recent projects–Miami’s Brickell Flatiron and EPIC Tower.COURTESY OF UGO COLOMBO
Italian-born developer Ugo Colombo is the man behind Miami’s tallest condo tower, Brickell Flatiron. The 736-foot-high tower is also the tallest condominium south of New York City.
Mr. Colombo, 58, began investing in Downtown Brickell—now a bustling urban center—in the 1990s, starting with the Bristol Tower and later the Santa Maria Tower. Since then, the area of Downtown Miami has seen more than 150 towers, which are home to more than 92,000 residents. The neighborhood’s population has more than doubled since 2000 and grown by 40% since 2010, according to 2018 demographics from the Miami Downtown Development Authority.
Today, more than 92,000 people live in the area and that number is expected to eclipse 100,000 in the next three years.
Vertical construction just finished for the 64-floor Brickell Flatiron, and it is 87% sold. The most expensive home to sell so far was a $13.2 million three-story penthouse that sold last October to Chicago marine industry executive Jake Vogel. It was the highest price paid for a condo in Miami’s Brickell district since 2007, according to a representative.
We caught up with Mr. Colombo, who also owns an expanding car dealership, to discuss the growth of cities’ “urban cores,” why single-family homes are hard to maintain, and more.
Mansion Global: Describe your dream property.
Ugo Colombo: I have a home that is the dream house—the original Carl Fisher estate, built in the 1920s. Fisher was the founder of Miami Beach, and he had his pick of anywhere to build a home. It’s on the water, in a perfect position. And it’s perfect at sunset. I came from a top-floor apartment. But the house, as nice as it is, is a lot of maintenance. When my three kids go to college I’d like to go back to an apartment. I had an apartment that was a whole floor with three-story ceilings. Pharrell Williams bought it.
MG: What does luxury mean to you?
UC: Luxury is subjective. It’s what gives you comfort, and it’s not the same for everybody.
I don’t know that I can define it, I just know it’s subjective.
MG: What area do you think is the next hub for luxury properties?
UC: Obviously New York, L.A. and Miami are the three main hubs in the U.S. You have up-and-coming cities like Nashville and Austin. But if you want to define luxury as more expensive—which is not the way I would describe it—those three are the main hubs that attract the wealthiest people.
Miami is growing the most because of the tax advantages. I have a lot of friends coming from New York and Los Angeles to Miami.
People are also saying it makes sense to move business to places like Dallas, but they prefer to move to Miami. They enjoy the lifestyle and the infrastructure.
I heard from someone yesterday [that] 900 New Yorkers a week are moving to Florida.
MG: What’s the biggest surprise in the luxury real estate market now?
UC: The luxury market was overbuilt in Miami, and we’ve gotten to an absorption level where it’s turning around. New York, too. They just built too many expensive homes. So there are not a lot of new properties in the pipeline. But it’ll cause good recovery for existing inventory.
MG: Where are the best luxury homes in the world and why?
UC: Obviously you have some fantastic homes in the South of France and in Italy. But the maintenance is hard on those, and it’s tricky to get all the personnel you need. In terms of single-family homes, some of the best are in Miami and Los Angeles.
MG: What’s your favorite part of your home?
UC: The view and the closeness to the water. It has a lot of outdoor space, which is [usable] 365 days a year. There’s a swimming pool we can use every day. And we can go paddleboarding and jet skiing, too.
MG: What best describes the theme to your home and why?
UC: It’sbuilt in colonial style, with columns outside. Inside, I knew I wanted to preserve those elements. I had an Italian architect come in. The materials are simple—modern, but simple. I tried to use simple materials to not fight with what was there.
MG: What’s the most valuable amenity to have in a home right now?
UC: Services. The amount of personnel I have in my home is ridiculous. To have a concierge, and maintenance of the pool and the air conditioning and the roof, is great. There’s a commonality, but it’s a simpler life overall.
MG: What’s your best piece of real estate advice?
UC: Location is key to a successful project. Can you “create” a successful location? Yes, it’s possible, but I wouldn’t take those risks.
MG: What’s going on in the news that will have the biggest impact on the luxury real estate market?
UC: These opportunity zones. There are a lot of them in Miami. There’s a lot of talk, and a bit of confusion. The rules are not completely clear. When it settles, it’ll spur a lot of development.
MG: What is the best area now for investing in luxury properties?
UC: Cities are urbanizing, and there’s a return to the downtown. The next generation doesn’t want to own a car. There’s a return to the “urban core.” Developers are selling out downtown. The demand is pretty high in those core areas. That’s where you have the most competition in terms of securing a place, and among developers, too. Land is scarce there.
MG: If you had a choice of living in a new development or a prime resale property, which would you choose and why?
UC: When I was looking for a single-family home,I couldn’t find the modern architecture I was comfortable with. When I saw the house I bought, it was the first house built in Miami Beach, and it had this history.
As far as a multi-family, a new building is better. It has new technologies, better systems, more energy efficiency, et cetera.
MG: What area currently has the best resale value?
UC: Beachfront/waterfront has the best resale value, and it’s seen the biggest spike in prices. It’s recovering nicely. But the downtown market has been pretty stable overall.
Herzog & de Meuron adds to south Florida’s coastal landmarks with residential skyscraper
May 2019
Designed by Swiss architecture firm Herzog & De Meuron, ‘jade signature’ is a residential beachfront tower in sunny isles beach, Florida. construction began in 2013, with the structure in the Miami region completing in 2018. residences within the 57-story building include 192 units, from 1-bedroom apartments to penthouses — in addition to six guest suites. amenities include a private pool and beach, while an exclusive clubroom with an outdoor terrace is also provided alongside a health and wellness center.
all images by DBOX
Jade signature has been designed by Herzog & de Meuron, with Pierre-Yves Rochon responsible for the scheme’s interiors. meanwhile, landscape architect Raymond jungles has conceived a lush ‘botanical journey’ that surrounds the tower’s base, with three levels of car parking positioned underground. the building’s parallelogram footprint was derived from an extensive study of the sun’s movement throughout the day. strategically positioning the building at an oblique angle to the ocean maximizes exposure to the sun, allowing daylight to have an extended presence on the beachside landscape and residences.
residences offer sweeping views both eastward over the ocean and westward over the bay and city. natural ventilation is provided by ‘flow-through’ layouts for all units with three or more bedrooms. earlier this year, Fortune International Group — the developers behind the project — announced that one of the tower’s penthouses sold for $18.5 million with the building now close to selling out. ‘this latest transaction exemplifies the unmistakable allure jade signature retains worldwide,’ says Edgardo Defortuna, president & CEO, Fortune International Group.
rather than designing yet another glass tower, a greater emphasis was placed on the building’s structural qualities.‘jade signature is very much about bringing the structure to the fore, so glass is protected from the sun and the heat and large terraces are provided throughout. that is what really works well in the miami climate,’ explains herzog & de meuron.
‘the project uses structure in the most basic way, a structure that you have anyway, and turns it into something sculptural,’ continue the architects. ‘this sculptural effect is not decorative; it comes from a combination of desired views and necessary visual protection. it is almost like an alphabet that we developed for the building: which wall can do what, which slab can do what, which column can do what. the structure is the architecture.’
Auberge Beach Opens State-Of-The-Art Spa Inspired By it’s Seaside Location
The SPA at Auberge Beach & Residences COURTESY OF RELATED GROUP
Fort Lauderdale’s new coveted address is a two-tower condominium project by Related Group, boasting 170 units right at the edge of the Atlantic Ocean with price tags up to $9 million. Now, while you might not be able to call one of these digs your home, their state-of-the-art spa can give you a taste of the quality and luxurious design that the hallmarks the Auberge portfolio.
With more than 15,000 square feet of indoor and outdoor treatment areas, The SPA at Auberge Beach draws on its secluded, beachfront setting for the rich character of its design and therapeutic treatments, which incorporate elements of sea, salt, sand and sound. “Since Auberge has 450-feet of oceanfront and sits right on the sand, the entire property feels very serene,” Patrick Campbell, vice president of Related Group described. “The location was a huge source of inspiration for the spa which utilizes neutral colors and pops of blue marble.” Surrounded by lush gardens and views of the Atlantic Ocean, the dreamy spa takes its design cues from its natural habitat in southern Florida with streamlined, rich wood furnishings and beachy hues. And if you need further convincing, the spa was Dwyane Wade’s first stop in his retirement.
A look inside one of three garden cabanas on property. COURTESY OF RELATED GROUP
The 14 treatment rooms offer a distinctive menu of signature treatments, as well as a self-guided vitality ritual including a sound meditation lounge, salt cave, infrared sauna, steam room, cool deluge shower therapy, manicure and pedicure services, express beauty bar treatments, and a full calendar of wellness activities. Best of all, the spa has three garden cabanas for an outdoor spa experience with the ocean just steps away.
The SPA at Auberge Beach COURTESY OF RELATED GROUP
Aside from an incredible menu of massage and facial treatments, Auberge offers special treatments including an ultra therapy med spa service which uses ultrasound to administer a non-invasive facelift. Another unique offering is the Hemi-Sync headsets, which feature audio guidance technology for meditation and relaxation and can be paired with several services.
DUNE at Auberge Beach COURTESY OF RELATED GROUP
The second amenity that’s open to the public is the property’s restaurant DUNE, the first East Coast restaurant from the Auberge Resorts collection. The menu was designed by executive chef, Edgar Beas, who focused on sourcing sustainable local ingredients for a contemporary American menu, and similar to the spa, it was completely inspired by Auberge’s seaside habitat. “DUNE’s menu is centered around local and fresh ingredients for a farm-to-table concept offering meals that are elegant without being fussy,” Patrick Campbell explained. “The restaurant’s design is influenced by the history of the site as well as Fort Lauderdale’s reputation as a laid-back beach town.” Plan your spa session for the late afternoon so you can cap the day with plates like Crab Spätzle or Octopus a la Plancha while sipping a cocktail oceanfront.
The resort-caliber spa and restaurant have been masterfully conceived by The Related Group, Fortune International Group, Fairwinds Group and Auberge Resorts Collection – the internationally renowned ultra-luxury resort operator.
Panorama Tower receives an award of Excellence for Geotechnical Engineering – Annual CTBUH Program
Awards recognize dynamic tall buildings from across the globe
The Council on Tall Building and Urban Habitat (CTBUH) has officially announced the winners of the 17th Annual CTBUH Awards Program at the 2019 Tall + Urban Innovation Conference in Shenzhen in China.
The CTBUH Awards aim to recognise projects and individuals that have made significant contributions to the advancement of tall buildings and urban environment, and that achieve sustainability at the highest and broadest level.
The objective is to deliver a comprehensive and sophisticated view of these important buildings, spaces, and technologies while advocating for improvements in every aspect of their performance – especially those that have the greatest effect on the people who use them every day. This means that the buildings highlighted in the Awards are often not the tallest in a given year, but represent the best qualities and innovations in the global sector.
There were 21 awards categories in the 17th Annual CTBUH Awards Program, with each category having its own set of Jury – made up of a prestigious panel of experts in their field.
This year San Francisco’s tallest building, Salesforce Tower, received the honour of ‘Best Tall Building Worldwide’.
The Salesforce Tower is the tallest building in the city and the first to break the previously established height limit. The primary function of the limit was to ensure no new shadows were cast on neighbouring public parks. To accommodate this, the tower’s design needed to be as slender as possible, tapering in silhouette as it rises, and had to be semi-transparent for 46 metres at its peak.
Pelli Clarke Pelli Architects won an international competition in 2007 to design the tower and the Salesforce Transit Center at its base. Together, the two buildings represent a novel approach to public-private collaboration and sustainability in an urban setting.
Now standing at an impressive 326 metres tall, the tower has the simple, timeless form of the obelisk, giving the 61-storey tower a uniquely slender, tapering silhouette.
Salesforce Tower has implemented a blackwater recycling program that is the largest yet to be used in a commercial high-rise project. It also deploys an innovative mechanical ventilation system that brings 100 per cent fresh air to each floor.
In addition to the Best Tall Building category winners, several other award recipients were recognised at the conference.
This included the La Trobe Street Student Accommodation, which was recognised as the ‘Award of Excellence’ winner in the ‘Tall Building Construction’ category.
At nearly 150 metres high, the development will be one of the world’s tallest student accommodation projects to use prefabricated construction methods.
The 783-bed project includes a 43 level tower, a seven level building at the rear of the site and a ground floor café and public access laneway. Terraces, lounges and other communal spaces for studying and socialising are dispersed throughout the development, which was designed to foster a sense of community amongst the student population.
Australian construction company, Hickory Group, utilised patented prefabricated building technology known as Hickory Building Systems to construct the tall building on a 22,000 square metre site in Melbourne’s CBD, enabling the project to be completed in just 22 months and accelerate its construction programme by 30 per cent.
A full list of recognized projects in the Annual CTBUH Awards Program:
Geotechnical Engineering Category Winner: 181 Fremont, San Francisco
Award of Excellence Winners Avalon Brooklyn Bay, New York City Panorama Tower, Miami
Read the full article here.
The Zen Life
The promise of sublime wellness becomes a prime selling point in five-star real estate.
Read the full article here.
Leading Interior Designer Paris Forino shares her inspiration for the world-class interiors of East Edgewater’s hottest residential project, Missoni Baia.
LUXURY DEFINED
Leading Interior Designer Paris Forino shares her inspiration for the world-class interiors of East Edgewater’s hottest residential project, Missoni Baia.
Showcasing the timeless appeal of Edgewater’s world-class waterfront lifestyle, Missoni Baia melds art, imagination and innovation with amenities worthy of a luxury resort and a new standard of refined, relaxed and luxurious interiors. OKO Group and Missoni have assembled a team of visionary designers including Hani Rashid of Asymptote Architecture, Landscape Architect Enzo Enea and Interior Designer Paris Forino to create an architectural landmark in East Edgewater that brings to life the unmistakable Missoni style of living. “Miami has a beautiful, sunny and optimistic vibe unmatched anywhere else in the world,” says Paris Forino of Paris Forino Interior Design, the award-winning full-service international design firm responsible for Missoni Baia’s inspiring interiors. “We brought all of those qualities to the interiors and to the public spaces — they are all very light, reflective and serene. The amenities spaces and the lobby have a clean, calm and elemental feeling to them, representing understated and refined elegance at its finest.”; MissoniBaia.com.
Mexicanos ahora más que nunca, siguen invirtiendo en Miami
April 2019
Compradores internacionales impulsan el crecimiento del mercado de bienes raíces en el paradisiaco destino de Estados Unidos.
Branded Content
En 2018 se registró una destacada inversión mexicana en el sector inmobiliario del sur de Florida, de acuerdo al último reporte Asociación de Bienes Raíces de Miami-Dade.
Los datos revelaron que la inversión extranjera en Miami provino en gran parte de Canadá y Reino Unido, seguido de América Latina. El documento destaca la compra de propiedades costeras en la zona por parte de brasileños, mexicanos, colombianos, argentinos, chilenos y peruanos.
En los últimos tres meses del año pasado se dio un crecimiento de 6.9% en ventas de condominios. Del total de ventas registradas en Miami y Fort Lauderdale, 52% correspondió a compradores internacionales.
De este modo, “Miami sigue siendo el lugar de preferencia de los latinoamericanos que desean invertir en propiedades en el extranjero”, aseguró Edgardo Defortuna, presidente de la firma inmobiliaria Fortune International Group. Destacó el caso de los mexicanos, quienes ya prefieren el sur de Florida sobre otros destinos de la costa oeste de Estados Unidos.
Se espera que esta tendencia se mantenga durante el 2019, puesto que ya se han superado los altibajos de ciclos anteriores y en la actualidad el mercado inmobiliario ofrece seguridad a los inversionistas locales e internacionales.
“La estabilidad económica y tranquilidad de hacer negocios, aunado al estilo de vida de la ciudad, agrega un valor sin igual”, consideró Defortuna.
Descubre los dos rascacielos que cambiarán la perspectiva urbana de Miami
Dentro de unos años la arquitectura clásica se verá enmarcada por la construcción de dos rascacielos que, con sus diseños innovadores, marcarán pauta en el paisaje urbano de la ciudad de Miami. Se trata del Una Residences y el Missoni Baia, dos construcciones que deslumbrarán al público.
Una Residences contará con un enfoque de diseño holístico e integrado, el cual está inspirado en los yates de lujo; mientras tanto, el Missoni Baia es el primer proyecto residencial de lujo que es construido por la famosa marca italiana de modas, Missoni.
A su vez, el proyecto de Una Residences surgió luego de que el magnate inmobiliario y hotelero Vladislav Doronin, dueño de OKO Group, la compañía de desarrollo urbanístico, anunciara la construcción de este rascacielos, una monumental torre de condominios diseñada por los grandes arquitectos que hicieron el Burj Khalifa en Dubai. Este proyecto, inspirado en los yates de lujo, lleva el sello del arquitecto Luis Revuelta junto con Adrián Smith y Gordon Gill Architecture.
“Aplicando nuestra filosofía de que la forma sigue al resultado, vimos en Una la oportunidad única de darle al diseño del edificio cierta actitud. Tiene un contrapposto, en el que parece que un lado del edificio está soportando todo el peso y el otro lado es relajante, mirándolo a uno. Me gusta esa actitud, es elegante, es muy cómoda y es sofisticada”, afirmó Gordon acerca del diseño de esta construcción.
Una Residences
Asimismo, Una Residences cuenta con 47 pisos, con una impresionante fachada esculpida que exhibe líneas nítidas y modernas, además de curvas similares a cintas, inspiradas en la sinuosa cubierta de teca del emblemático yate Riva. De igual forma, posee amplias terrazas con vistas panorámicas de 180 grados de Key Biscayne hacia el este, y de otras maravillosas vistas.
Mientras tanto, el OKO Group reveló detalles sobre Missoni Baia, un proyecto inaugural de colaboración residencial ideado con la primera familia de la moda de Italia, una torre de condominios de lujo de 57 pisos, que se eleva a lo largo de 200 pies frente en la Bahía de Biscayne. El Missoni tiene una arquitectura contemporánea que fue construida con la visión de la compañía Asymptote Architecture de Nueva York.
Missoni Baia
“La idea de aportar no solo la visión Missoni, sino también el estilo de vida Missoni a un proyecto residencial, es algo que me parece muy inspirador. Tengo muchas ganas de presentar la primera colaboración residencial Missoni del mundo y celebrar la seducción que produce socializar y convivir de manera especial, frente al mar”, señaló Angela Missoni, Directora creativa de la compañía.
Related Group’s Auberge Condo Celebrated Opening Last Night
Last night, Related Group did its thing and opened another sparkling condo on a South Florida beach, along with partners Fortune International Group and The Fairwinds Group. Auberge Beach Residences & Spa, a two-tower project overlooking the Atlantic Ocean in Fort Lauderdale, celebrated the completion of its 170 units. The property’s 17-story North Tower is sold out, but larger units — some of which have their own private pools on terraces — remain available at the 22-story South Tower. Prices run from $1.5M to $9M.
The project was designed by Nichols, Brosch, Wurst, Wolf & Associates. A restaurant with a Napa
The property has a long history: In 1956, it opened as Ireland’s
Andy Mitchell, president
Read the full article here.
MULTIPLAN REAM BREAKS GROUND ON 57 OCEAN IN MIAMI BEACH
April 2019
Multiplan Real Estate Asset Management has broken ground on 57 Ocean, an ultra-high-end, 18-story boutique condominium on Millionaire’s Row in Miami Beach. Designed by Bernardo Fort-Brescia of Arquitectonica with interiors by Brazilian designer Patricia Anastassiadis of Anastassiadis Arquitetos, 57 Ocean is already being singled-out by high-end buyers worldwide for its myriad of holistic wellness amenities and services. Dozens of industry leaders and top-producing broker-associates were in attendance for the April 4 groundbreaking ceremony, which included a champagne toast and an elegant brunch in the project’s $3 million, on-site sales gallery. The 81-unit 57 Ocean is located at 5775 Collins Avenue and has been likened to a coastal retreat, blending extravagant design with an emphasis on healthy living. Moss & Associates is the general contractor for the project.
“This is a proud moment,” said Marcelo Kingston, Managing Partner, Multiplan Real Estate Asset Management. “Even before putting shovels in the ground, the response from the market has been tremendous. We see the global interest in our project as being indicative of the demand buyers have…not only for sophisticated oceanfront living, but access to state-of-the-art features that are designed to bolster health and wellbeing. 57 Ocean is a rarity in the marketplace, and savvy, well-heeled consumers recognize that.”
The condominium is the brainchild of Multiplan Real Estate Asset Management’s leader, José Isaac Peres, an internationally recognized Brazilian developer and owner of major residential and commercial real estate holdings. Peres, who was in attendance for the commemoration, has longstanding ties to Miami, being the visionary behind a pair of landmark South Florida projects including the concept of Jade on Brickell Bay and the development of Il Villaggio on Ocean Drive. During the ceremony, which was temporarily moved inside on account of rain, Peres spoke passionately about his company and its longstanding mantra.
“Multiplan is known for going well beyond expectation,” said Peres. “We believe in giving people more than what they ask for…and when we say we are going to do something, we do it. Those are two of our pillars. Even for today’s groundbreaking event, people wanted to know if we were going to postpone the celebration because of the weather…but despite the clouds, we moved forward. Again, if we say we are going to do something, we make it happen…and our beautiful ceremony took place as planned.”
“I’m very proud to be involved with Multiplan’s latest project,” said Edgardo Defortuna, CEO of Fortune International Group, parent company of Fortune Development Sales, the project’s exclusive broker. “They always deliver on what they promise — and even more. During the opening party, Dr. Peres said he was going to start construction in April, and that’s exactly what he’s done. As indicated by early sales, the market has really embraced 57 Ocean. It’s a testament to the notion that when you have a quality developer producing a great product, the result will be a huge success.”
57 Ocean offers two, three and four-bedroom residences, ranging from 1,200 SF to 3,600+ SF; additionally, there are also two penthouses and two beach houses. The uniquely designed homes will feature expansive terraces, each stretching 12 feet deep with panoramic ocean and city views, glass balustrades, and one-of-a-kind ceilings with wood-like accents. Units will also feature contemporary Italian kitchens and baths by Poliform. Additional highlights within the residences will include marble countertops and backsplashes, 10-foot ceilings, Wolf and Sub-Zero appliances, Italian fixtures, natural stone floors, stone wall tiles in master baths, and private elevator entrances.
Amenities are comprised of a holistic wellness spa and pavilion, complete with a thermal suite (inclusive of a steam room, aromatherapy saunas, and an ice fountain), relaxation and meditation area, and a private spa suite; two expansive infinity pools; third-floor sunset deck; poolside treatment cabanas; a pool bar and social terrace lounge; summer kitchen pavilion with a grill area; a multi-purpose club room with chef’s kitchen for full gastronomic experiences; and a state-of-the-art fitness center with innovative MyIsle training equipment by MyEquilibria and an indoor Technogym fitness center. There will also be a library, children’s activity room, 24-hour concierge, valet and security services, and pool and beachfront concessions and attendants. Residents will additionally have direct access to 220 linear feet of beach and the adjacent, Miami Beach Walk.
Pricing at 57 Ocean ranges from $1.5 million to $31 million with Fortune Development Sales as the exclusive residential brokerage. 57 Ocean is expected to be completed in September 2021.
Marcelo Kingston, Dr. José Isaac Peres, Edgardo Defortuna, and Ana Cristina Defortuna
Edgardo Defortuna, Dr. José Isaac Peres, Marcelo Kingston, and Bob L. Moss
Ricardo Peixoto, Dr. José Isaac Peres and Marcelo Kingston
Dr. José Isaac Peres, Edgardo Defortuna, and Marcelo Kingston
Dr. José Isaac Peres and Marcelo Kingston
Dr. José Isaac Peres addresses guests, with Edgardo Defortuna and Marcelo Kingston
ob L. Moss, Edgardo Defortuna, Dr. José Isaac Peres and Marcelo Kingston
Bill Suarez (far left), with Bob L. Moss and Edgardo Defortuna
Arthur Rudchenko, Alexandra Fedorova, and Denis Smykalov with guest (far left)
Bianca Silva and Jim Cohen
Sonia Navarro, Dorith Ness, Jim Cohen, Carolina Rainer, Jessica Segatto, and Christopher Jude of Fortune
Photos via Dylan Rives
Missoni Baia y Una Residences, Diseños Top en Miami
Missoni Baia y Una Residences son dos de los más recientes proyectos residenciales de máximo lujo en Miami que desarrolla la fima OKO Group. (Imagen superior: El diseño de Missoni Baia garantiza que todas las viviendas tengan vista panorámica de la ciudad, la bahía, Miami Beach o el océano Atlántico. Imagen: cortesía Oko Group.)
Fundada por el magnate inmobiliario Vladislav Doronin, la compañía urbanizadora OKO Group cuenta con 71 proyectos internacionales y más de 22 millones de m2 construidos. La amplia experiencia de Doronin con obras en Asia, Europa y Estados Unidos lo convierten en uno de los constructores más exitosos y respetados del mundo. La inversión de sus proyectos en Miami asciende a 1.000 millones de dólares.
Además de su enorme fortaleza financiera, OKO Group se destaca por trabajar con los más reconocidos arquitectos y diseñadores internacionales. Entre ellos, la arquitecta ganadora del Premio Pritzker Zaha Hadid y la firma de arquitectura americana Skidmore, Owings & Merrill. También el famoso arquitecto Hani Rashid, de Asymptote Architecture (con sede en Nueva York), la firma italiana Iosa Ghini Associati y el aclamado diseñador francés Jacques Grange.
Missoni Baia, equilibrio perfecto
Missoni Baia es una torre de 57 pisos de condominios de lujo que se eleva a lo largo de más de 60 metros frente al mar. Está ubicado en Edgewater, entre Biscayne Bay y el dinámico Design District, la zona más creativa y cultural de Miami. Su estilo desenfadado y a la vez lujoso reflejan la pasión por el arte y el gusto por la buena vida que caracterizan la filosofía de Missoni.
Missoni Baia es el primer proyecto residencial de la marca Missoni, la icónica casa italiana de moda y diseño de lujo, fundada en 1953. La torre, de casi 200 metros de altura, consta de 229 residencias elegantemente diseñadas, cada una con vista al mar. Las exclusivas viviendas disponen de entre 1 y 5 dormitorios y sus áreas van desde 72 m2 hasta 352 m2.
“LOS ESPACIOS DE ÚLTIMA GENERACIÓN, INFLUENCIADOS POR MI PASIÓN PERSONAL POR BUSCAR EL BIENESTAR, SON DIFERENTES A CUALQUIER OTRO OFRECIDO EN RESIDENCIAS PRIVADAS EN MIAMI.”VLADISLAV DORONIN
El diseño de Missoni Baia es obra del galardonado arquitecto Hani Rashid, de Asymptote Architecture. Rashid fue recientemente encargado de diseñar el Hermitage Modern Contemporary Museum de Moscú. Su diseño visionario se inspira en las obras de arte minimalistas y cinéticas de Josef Albers, Donald Judd, Sol Lewitt y Jesús Rafael Soto. Los espacios interiores los concibió la firma Paris Forino bajo la dirección creativa de Angela y Rosita Missoni. El paisajismo es del reconocido diseñador suizo Enzo Enea.
Una Residences, lujo relajado
Una Residences se alza cerca de la intersección de Key Biscayne y Coconut Grove, donde surgió el moderno estilo de vida en rascacielos en la década de 1970. El nuevo hito arquitectónico de Miami es una torre de 47 pisos reconocida por su silueta de suaves curvas. Su diseño es de Adrian Smith + Gordon Gill Architecture (AS+GG), la firma artífice del Burj Khalifa, en Dubái. Es un proyecto de Oko Group en asocio con la compañía de inversión en bienes raíces Cain International.
Una Residences sobresale por su impresionante fachada esculpida que exhibe líneas nítidas y modernas y curvas similares a cintas, inspiradas en la sinuosa cubierta de teca del emblemático yate Riva. Cuenta con amplias terrazas frente al mar, que ofrecen vistas panorámicas de 180 grados. Con el fin de crear un edificio atemporal, AS+GG también se encargó del diseño interior. Esto garantiza una estética continua en el exterior y el interior. Para Una se escogieron materiales naturales, maderas preciosas, ricos cueros y piedras de tonos claros para crear un ambiente de lujo relajado.
Manhattan magazine and Fortune International Group hosted its second Miami Luxury Real Estate & Design Open House in New York
March 2019
On Wednesday, March 20th, Manhattan magazine and Fortune International Group hosted its second Miami Luxury Real Estate & Design Open House in New York at the B&B Italia showroom.
Guests in attendance previewed Fortune International Group’s curated selection of South Florida’s most extraordinary residential towers presented alongside exquisite Italian home furnishings. Featured properties included The Ritz-Carlton Residences – Sunny Isles Beach, Monaco Yacht Club & Residences, Missoni Baia, 57 Ocean, Panorama Tower, Jade Signature and Una Residences.
The Open House also featured two in-depth discussions focusing on finance and design. Leading tax expert and partner at WithumSmith+Brown, Barry Horrowitz, spoke to the financial benefits of investing in Miami real estate and changing one’s domicile to Florida. Modern Luxury’s National Interiors Editor, Sarah Bray, along with Nicole Fuller of Nicole Fuller Interiors, led a discussion on design and the evolution of living trends, that touched on topics such as how to bring outdoor living spaces inside, the kitchen as the “heartbeat” of the home, and the art of furniture trends.
Fortune International Group Presents Second Miami Luxury Real Estate & Design Open House In New York City
Curated selection of South Florida’s most extraordinary residential towers presented alongside exquisite Italian home furnishings by B&B Italia
Miami Twice. Tax payer sticker shock and luxury real estate were top of mind last Wednesday, March 20, when the Miami Luxury Real Estate & Design Open House presented by Fortune International Group–a recognized leader in development, residential real estate sales and marketing since 1983 – returned to New York City.
Over 300 leading New York real estate professionals and prospective South Florida homebuyers joined Fortune International Group at B&B Italia’s exquisite Madison Avenue home furnishings store for an exclusive opportunity to preview a curated selection of Miami’s most prestigious properties while further exploring Florida’s tax friendly climate and why a move to Miami is worth considering. Participating properties at the Open House included Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, 57 Ocean, Monaco Yacht Club & Residences, Missoni Baia, Una Residences, and Panorama.
The Miami Luxury Real Estate & Design Open House also featured two in-depth discussions focusing on the financial benefits of investing in Miami real estate and changing one’s domicile to Florida presented by leading tax expert Barry Horowitz, partner at WithumSmith+Brown, and a design discussion led by Modern Luxury Interiors national editor, Sarah Bray, on interpreting contemporary culture and the evolution of living trends.
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 properties in South Florida including Jade Signature, The Ritz-Carlton Residences Sunny Isles Beach, 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.
Big Opportunity for Buyers of Miami-Area New Developments
The market has stabilized, and these upcoming luxury buildings are adding to the region’s high inventory
The Miami-South Florida real estate market is still awash in luxury inventory from the last round of new developments, but that may change in coming months as wealthy homeowners flee high-tax states in favor of low-tax Florida.
“We’ve had an enormous supply of luxury in the last three years in Miami/Dade County,” said Ron Shuffield, president of the Miami-based EWM Realty International. “We currently have 5,000 units on the market priced over $2 million.” Of those, 1,900 are single-family homes and the remaining 3,100 are condos.
“We look at our inventory in terms of monthly supply,” he explained. “Normally, Miami/Dade can handle 12 to 18 months of inventory priced over $1 million comfortably.”
In January, Miami/Dade had a 32-month supply of single-family homes priced over $1 million and a whopping 76-month supply of condos, according to EWM statistics Mr. Shuffield provided to Mansion Global. “We need to rebalance this inventory again,” he said.
“The good news is that we’ve picked up demand,” he said. “We’re seeing more domestic buyers than ever before, who are coming to Florida to look for a primary residence or to buy a second home.”
From 2015 to 2017, “we were selling fewer $1 million-plus properties every year,” Mr. Shuffield said. That turned around in 2018, he said, primarily because of “people fleeing high-tax states.” The new federal tax law passed by the U.S. Congress in 2017 and enacted last year puts a $10,000 cap on state and local tax deductions, otherwise known as SALT.
So far in 2019, “we’re seeing an increasing level of interest from luxury buyers from these high-tax states,” he said, especially now that they are getting their new tax bills, with lower SALT deductions, for the first time
In recent years, international buyers made up more than 40% of the Miami/Dade market, Mr. Shuffield said. “That is now down to more than 30% because of decreasing currency values and unstable politics” in Latin and South American countries like Brazil, Venezuela and Mexico.
“The domestic buyer has become the new story,” he said.
Edgardo Defortuna, president and CEO of Fortune International Group, agreed. “In Fort Lauderdale we are seeing 85% U.S. and 15% foreign buyers.”
“We’re seeing a lot of buyers from the Northeast and California,” he said. “It’s a more sophisticated buyer—they do the research, they do their homework and it takes more time to execute.”
Mr. Defortuna characterized the Miami-South Florida luxury market as “more stable and mature—it’s not like the crazy days of 2015 and 2016 when we could put a product up for sale and sell it out in less than a year.”
“We’re seeing a great deal of activity in Sunny Isles Beach,” in northern Dade County, he said. “There are five or six very high-end buildings being built. Most are 60% to 80% sold already. This area will really continue to grow.”
Farther south, in North Miami Beach and South Beach, “there is a lack of sites on the ocean—they are almost nonexistent,” Mr. Defortuna said. “You have to buy existing buildings one by one and knock them down, to build new.”
“The availability of land to be built in Miami Beach is extremely, extremely low,” he said.
Developers are looking north “because of a lack of property down south,” Mr. Defortuna said. “They will continue to move north.”
Indeed, many of the new developments launching sales in the first two quarters of 2019 are in areas north of Miami, such as West Palm Beach and Boca Raton. Here’s a look at a few of them.
Read the full article here.
Related Group, Fortune complete Auberge oceanfront condo
March 2019
The recently completed Auberge Beach Residences & Spa Fort Lauderdale has already set records for condo prices in the city.
Developed by the Related Group, Fortune International Development
See the gallery for a photo tour of the Auberge Beach Residences & Spa Fort Lauderdale, which is the first residential-only project under the Auberge hospitality brand.
Auberge set a city condo price record with a $10 million sale to Vincent Viola, the billionaire owner of the Florida Panthers. Other executives who bought condos at Auberge include Citrix Systems President and CEO David J. Henshall and Moss & Associates Chairman and CEO Bob Moss, whose firm was the general contractor of the project.
Related Group VP Patrick Campbell said 60 to 70 percent of the buyers in Auberge will use the condos as their primary residence, which differs from Miami, where most condo buyers are investors
Many of the buyers chose Auberge for its luxury amenities and oceanfront location, Campbell said. “We certainly think we set the bar and redefined what luxury is in that area,” Campbell said. “We are showing value in how the prices related to Miami.”
Campbell said the average closing price at Auberge was $1,200 per square foot. Units range from 1,600 square feet to about 7,000 square feet. Each condo comes with a smart panel that controls functions such as the lighting, air conditioning
There are 14 units remaining to sell, Campbell said. They’re priced from $2.8 million to $5 million
The condos are delivered “designer ready” without flooring and fixtures.
Auberge features the 9,000-square-foot Dune restaurant and a 10,000-square-foot spa, both of which are open to the public. The spa has eight single treatment rooms, two couples treatment rooms, a sauna, pedicure stations, a quartz sand bed, a sound meditation lounge and a Himalayan salt cave that releases pure salt vapors into the air.
“A big part of the Auberge brand is the dining and spa experience,” Campbell said. “Residents get the true resort-style amenities without the transient component of a hotel.”
Amenities in Auberge include an expansive lobby with an elevated walkway between the two towers, a fitness center, a cinema room, a children’s playroom, a PGA-approved golf simulator, a wine room with Napa Valley selections curated by Auberge, a social room, a game room with a billiards table and a pool deck with cabanas.
Nichols, Brosch, Wurst, Wolf & Associates is the architect of Auberge. Meyer Davis Studio was the interior designer of the condo, while Tracey Lee designed the spa interiors.
Read the full article here.
Strategies for Sellers as Chinese Buyers Scale Back on Foreign Real Estate Investment
March 2019
With luxury markets slowing, sellers must demonstrate the long-term potential of their homes to attract foreign buyers
Chinese investment in overseas real estate has slowed recently from its frenetic pace. A number of factors are behind the change, including the Chinese government’s restrictions on outbound investment and stricter regulations on the part of the U.S., leading to an 83% drop in Chinese investment in the U.S. in 2018, according to a report from the global law firm Baker McKenzie.
However, the decrease in overseas investment from Chinese buyers may not be for the long term, some real estate analysts predict. And while luxury homes may take longer to sell than in previous years, the slower pace of sales represents a normalization of the market, not a downturn. With this in mind, sellers of luxury homes should consider targeting other groups of buyers from Latin America and Europe, for instance—and emphasizing the long-term investment potential of their properties.
“Given the size of the Chinese market and its emerging middle class, personally I do not see a significant slowdown long term on foreign investment from China,” said Jamie Mi, partner and head of international division with Kay and Burton, a real estate brokerage in Melbourne, Australia. “We expect that such investment most likely will be operated quietly and modestly, not as loud as before.”
In addition to buyers from China, buyers from Canada, the U.K., India, and Mexico are the top investors in residential real estate in the U.S., according to the National Association of Realtors. Canada and the U.K., meanwhile, attract more European buyers, so sellers in these regions may want to set their sights on these groups of buyers.
But given the global slowdown in investment predicted for this year, international investors, regardless of nationality, are making their buying decisions with greater deliberation than before. This means sellers must brace for the possibility of their homes lingering on the market for longer, and should keep in mind the types of properties and locations that most attract investors from overseas.
Foreign buyers of luxury property tend to be savvy world travelers, and therefore hunt for what they consider high-end homes in central, in-demand neighborhoods, Ms. Mi said. Fortunately for sellers, this translates to a range of home types.
“They are buying boutique apartments, penthouses, and prestige homes in the most sought-after suburbs,” Ms. Mi said. “There is also a percentage of buyers looking for big land with heritage homes [homes listed on Australia’s heritage registers for its historic value].
Newer developments, especially those with name recognition and well-known architects attached, also remain a powerful draw for foreign buyers.
“There’s been a shift to looking for quality from investors,” said Edgardo Defortuna, president, CEO and founder of Miami-based developer and brokerage Fortune International Group. “They’re looking for sophisticated architecture, very well-funded and experienced developers, and in many cases, the branding behind the project.”
Investors are also seeking property with the potential to generate strong rental income for the long-term, a factor sellers should highlight when marketing their homes.
“These buyers are sophisticated financially, and may be planning to rent out the property for a few years and eventually retire,” said Daniela Sassoun, a broker with Douglas Elliman in New York.
The Impact of Chinese Buyers in Foreign Markets
Their investment in international real estate may be slowing down, but the Chinese still represent the largest cohort of foreign buyers in many top markets. In London, for instance, the brokerage Knight Frank found that buyers from mainland China made a third of all real estate purchases by foreigners in 2018. In Australia, too, China still accounts for the largest share of foreign investment in residential real estate.
In the recent past, Sassoun said, the market was moving at a frenetic pace, and international investors were buying apartments sight unseen.
Read the full article here.
LOS MEJORES PROYECTOS ARQUITECTÓNICOS EN MIAMI
March 2019
The Ritz-Carlton Residences Sunny Isles
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 se elevará entre las prestigiosas Bal Harbor 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, la cultura y la 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. Su entrega es a final de este 2019.
Brickell Flatiron
Brickell Flatiron, la nueva joya arquitectónica en el corazón de Miami. La torre de cristal fue imaginada para transformar el skyline de Miami por el célebre desarrollador italiano Ugo Colombo, de CMC Group, artífice de los emblemáticos Santa María y Bristol Tower en Brickell, o Grovenor House, en Coconut Grove.
En los interiores el diseñador y arquitecto italiano Massimo Iosa Ghini se inspira en la silueta de Brickell Flatiron para subrayar los pulcros espacios, creando una casi imperceptible transición entre el exterior y el interior. El aclamado arquitecto de Miami, Luis Revuelta, ha creado un ambiente arquitectónico único, que combina la distintiva apariencia de plancha de la torre, con fluidas formas curvilíneas. Acercándose ya al último piso de la construcción, en el 1001 South Miami Avenue, el Brickell Flatiron estará listo para ser entregado a mediados de 2019.
Missoni Baia
La torre de condominios de lujo de 57 pisos, que se eleva a lo largo de 200 pies de frente en la Bahía de Biscayne, es una creación del Grupo OKO, la compañía de desarrollo urbanístico con sede en Miami, fundada por el magnate inmobiliario y hotelero internacional Vladislav Doronin.
Enfocada en mantener el patrimonio artesanal de la marca de moda italiana Missoni, la integración experta de estilo, artesanía e ingeniería, 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. Actualmente en construcción, sala modelo disponible.
Una Residences
El segundo proyecto de la firma OKO Group es Una Residences – es una monumental torre de condominios diseñada por los aclamados arquitectos que hicieron el Burj Khalifa en Dubái. Se alzará pronto en la parte de la ciudad donde surgió el moderno estilo de vida en rascacielos en la década de 1970, en el punto más meridional de la avenida Brickell, cerca de la intersección de Main Highway de Coconut Grove y la avenida Brickell en 175 SE 25th Road.
La torre con 47 pisos será una maravilla en sí misma, con una impresionante fachada esculpida que exhibe líneas nítidas y modernas y curvas similares a cintas, inspiradas en la sinuosa cubierta de teca del emblemático yate Riva. Las amplias terrazas aprovecharán a plenitud el singular sitio junto al mar que ofrece vistas panorámicas de 180 grados de Key Biscayne hacia el este, el downtown de Miami y Miami Beach al norte, Coconut Grove al sur, y vistas de Coral Gables y más allá hacia el oeste. Apartamento modelo disponible.
Metropica
Al Oeste del condado de Broward, en el Sureste de la Florida se encuentra METROPICA, a tan solo minutos del aeropuerto de Fort Lauderdale y a tan solo pasos del reconocido centro comercial Sawgrass Mills, uno de los desarrollos más grandes de uso mixto en el país que abarca aproximadamente 371.000 metros cuadrados compuesto de más de 2,250 unidades residenciales, espacios comerciales de primera gama, 14,000 metros cuadrados de oficinas contemporáneas clase A, espacios públicos dedicados al arte y un hotel boutique de lujo. Metropica proveerá a sus residentes un estilo de vida moderno, pero a la vez tropical, con espectaculares vistas hacia el enorme parque natural Everglades. El espectacular emprendimiento de Metropica One, ha sido diseñado por un equipo de mentes geniales que han sido premiados a nivel internacional y que incluye Oppenheim Architecture + Design, YOO Studio, CI Design, y EDSA. Metropica brinda una oportunidad sin igual para inversionistas extranjeros que deseen vivir y trabajar en los Estados Unidos, a través del programa de visa EB-5. Sala modelo disponible. Primera fase lista para entregar.
Jade Signature
Terminado y premiado. La belleza de la torre refleja los talentos más extraordinarios de un trío de los mejores colaboradores de la industria: los arquitectos suizos de renombre mundial Herzog & de Meuron– visionarios detrás de Tate Modern en Londres, 1111 Lincoln Road y Peréz Art Museum Miami; el famoso estudio de arquitectura de paisaje de Miami Raymond Jungles Inc .; y la firma parisina de diseño de interiores PYR, dirigida por Pierre Yves-Rochon, ganadora de prestigio internacional por crear elegantes interiores en residencias de lujo, spas y hoteles, incluyendo el Four Seasons George V en París, The Savoy en Londres y la renovación, actualmente en progreso, del Waldorf Astoria en Nueva York.
Jade Signature, siendo ejemplo de un enfoque revolucionario para la innovación y el diseño, consiguió llevarse, el pasado 10 de septiembre, 2018, tres victorias en la competencia global por el premio de USA/Americas Property Awards. Los detalles más intrincados de Jade Signature demuestran un enfoque total en la vida de lujo.
Monaco Yacht Club & Residences
El estilo de vida de la Costa Azul llega a las orillas de Miami Beach, con Monaco Yacht Club & Residences, un nuevo condominio de lujo frente a la bahía de Miami Beach creado por Optimum Development USA, y con venta exclusiva por Fortune Development Sales.
En colaboración con dos nombres de reconocimiento mundial en diseño, Piero Lissoni y la firma internacional de arquitectura Arquitectonica, el proyecto boutique de 11 pisos contará con 39 exquisitas residencias frente al mar que ofrecen el mejor estilo de vida en sus espacios interiores y exteriores. Ubicado en el codiciado barrio de North Beach en 6800 Indian Creek Drive Miami Beach, Monaco Yacht Club & Residences será construido en una de las últimas propiedades frente al agua que quedan en el área. Sus amplias terrazas envolventes de gran tamaño con pisos y techos terminados ofrecen vistas panorámicas de la Bahía de Biscayne, el Océano Atlántico y el horizonte de Miami. Cada residencia ofrece cocinas al aire libre y los implementos necesarios para el disfrute de la vida tanto en interiores como exteriores.
Brickell Flatiron, el rascacielos que hará de Miami una ciudad urbana
Luego de 25 años de construcción, esmero y trabajo finalmente la ciudad de Miami verá una de las grandes creaciones que se ha realizado en los últimos tiempos: el Brickell Flatiron, un rascacielos que impulsará el crecimiento de un lugar más urbano.
La ciudad del Sol en pocos meses podrá apreciar una construcción que se ha estado moldeando en los últimos años, un proyecto de lujo en el distrito financiero de Brickell, mismo que se remonta a la construcción de Bristol Tower en 1994 por CMC Group y de Santa María Tower dos años más tarde.
En definitiva, y tal como lo aseguró Ugo Colombo, visionario constructor italiano y fundador del Grupo CMC, se decidió definir a Brickell como un distrito residencial de lujo, capaz de atraer a los compradores más exigentes del mundo. Por consiguiente, se han construido torres que han establecido récords históricos de precios, pues los compradores locales y foráneros apostaron por el núcleo urbano de Miami.
Actualmente, más de 92.000 personas residen en el área y se estima que ese número ascienda a 100.000 en los siguientes tres años. Dichas cifras se han dado gracias al aumento de torres residenciales verticales y, además, a la activación de un próspero paisaje urbano que posiciona a Brickell entre los centros urbanos más dinámicos del mundo.
Se tiene estimado que para finales del presente año, los habitantes de Miami podrán presenciar un gran crecimiento poblacional en el núcleo urbano de dicha ciudad, de acuerdo al censo realizo por la Autoridad de Desarrollo del Centro de Miami.
A su vez, dicho condominio residencial más alto de la ciudad del sol tiene una medida de 225 metros de altura, descrito por el visionario constructor Colombo como un mercado residencial de lujo, con la capacidad de atraer a los compradores más potenciales del mundo.
Dicha estructura consta de 64 pisos y 5727 unidades diseñadas por el reconocido arquitecto Luis Revuelta, con interiores del maestro diseñador de origen italiano Masimmo Iosa Ghini. “Luis y Massimo comparten el compromiso de nuestra firma con la elegancia eterna, lo que se ha constituido en la fuerza que guía todos nuestros desarrollos”, aseguró Ugo Colombo.
Check Out The Construction Progress At Missoni Baia, Now Passed The 6th Floor
Construction is rapidly progressing at the Missoni Baia site in Edgewater where the parking garage has reached three quarters of its full height since construction teams completed the sixth floor. The tower first went vertical in September 2018 and broke ground in October 2017. Over the phase of construction construction teams poured a total of 5,840 cubic yards of concrete which equates to over 580 full drum loads of a cement mixer truck. Using two crawler cranes on site construction teams also lifted over 2.6 million pounds of precast joist beams, over half a million pounds of precast soffit beams and 675 tons of reinforcing steel; in total roughly 2,255 tons of material lifted or 11 times the weight of the Missoni Baia 200-ton crawler crane. In the next phase of construction, the Missoni Baia amenities deck and tennis court will be poured and cast and foundation work for the tower will continue as the 57-story tower nears its completion in 2020.
Missoni Baia is being developed by OKO Group, the Miami-based development company founded by international real estate magnate and hotelier, Vladislav Doronin, in partnership with Cain International. 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 with interiors and amenities designed in collaboration with Missoni. Amenities 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 exclusive drone construction video can be found below:
Lujo inmobiliario enfocado al estilo de vida: Edgardo Defortuna
Fortune International Group es una compañía que, desde 1983,
se dedica al real estate, y es reconocida tanto en el desarrollo
como en la comercialización de bienes raíces de lujo en el Sur
de Florida. Sus proyectos abarcan desde residenciales hasta
hoteles, pasando por… Lee el artículo completo
Fortune International Group And Manhattan Magazine presented The Miami Luxury Property Invitational
On Wednesday, Jan. 16, Fortune International Group and Manhattan magazine presented The Miami Luxury Property Invitational, a winter showcase of Miami’s finest properties.
The event, which took place at Manhattan’s chic Lowell Hotel located on the city’s Upper East Side, provided an exclusive opportunity to introduce over 200 leading New York real estate professionals and prospective South Florida homebuyer attendees to a curated selection of Miami’s most prestigious properties including Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, 57 Ocean, Brickell Flatiron, Monaco Yacht Club & Residences, Missoni Baia, Una Residences, and 2000 Ocean.
The Miami Luxury Property Invitational also featured in-depth insight into the many advantages that tax-friendly states like Florida offer New York residents with a special discussion on the financial benefits of investing in Florida real estate by two of Barron’s Top 100 Wealth Advisors as well as tax expert Barry Horowitz, CPA and partner at Withum.
Sneak peek: José Isaac Peres unveils 57 Ocean sales gallery
January 2019
Construction of 18-story, 81-unit condo project in Miami Beach set to begin in April
Brazilian billionaire José Isaac Peres is unveiling a newly built sales gallery for his planned luxury condominium project 57 Ocean at an event on Thursday that will feature music by the New World Symphony and a fireworks show.
Peres’ Multiplan Real Estate Asset Management is developing the 18-story, 81-unit project at 5775 Collins Avenue in Miami Beach. Edgardo Defortuna’s Fortune Development Sales is handling sales and marketing.
The two-story, oceanfront sales gallery cost $3 million to build and spans 5,000 square feet, said Marcelo Kingston, managing partner of Multiplan Real Estate Asset Management.ADVERTISING
A sneak peek tour led by Multiplan CEO Peres revealed scale models of the tower and neighborhood on the first floor, with a model unit upstairs, including a living room, kitchen, master bedroom with bathroom, walk-in closet and terrace.
Peres, who studied architecture before switching to economics, said he chose Arquitectonica to design the project after asking three U.S. companies and two from Brazil to compete for the design. Brazilian architect Patricia Anastassiadis is designing the interiors.
Units range from 1,200 square feet to 7,000 square feet, with prices from $1.5 million to $31 million, Kingston said. Prices average $2,000 per square foot.
Foundation work has started and construction will begin in April, regardless of the level of presales, though Peres said he expects to reach 30 percent by that time. He is self-funding construction of the project without financing. He said he has already spent $100 million so far, including about $90 million to buy out the condo owners of Marlborough House, the 110-unit building that previously occupied the site.
Despite the ongoing condo slowdown, Peres said he feels “confident in the product.” He expects units to be purchased by end-users, including local buyers, who will use them as primary or vacation homes.
Defortuna launched sales in the fall, and is targeting buyers from the Northeast, as well as Brazilians and Mexicans, among other prospective foreign buyers. “We have signed a few contracts and expect people to commit in the next month or so,” now that the sales gallery is open, he said.
Each unit at 57 Ocean will have a private elevator entrance, a 12-foot-wide terrace and Italian kitchens and bathrooms by Poliform. Some two-bedroom units are designed to be combined into four-bedroom units with staff quarters, Peres said.
Amenities will include an outdoor wellness garden, massage rooms, yoga deck and spa, steam room, two pools, a pool bar, summer kitchen pavilion, club room fitness center and library.
The project is expected to be completed in September 2021.
Peres previously developed Il Villagio on Ocean Drive, launching sales in 1994 with a beachfront concert by the late opera singer Luciano Pavarotti. His next project will be 312 Ocean Park, a 10-unit, four-story condominium at 304 and 312 Ocean Drive in Miami Beach’s South-of-Fifth neighborhood.
In addition to his privately owned Multiplan Real Estate Asset Management, Peres is also CEO of Rio de Janeiro-based, publicly traded Multiplan, one of the largest shopping mall developers and operators in Brazil, according to Forbes, which pegs Peres’ net worth at $1.4 billion.
Brazilian billionaire plans boutique luxury condo on Ocean Drive
January 2019
Sales of 10-unit, four-story project could launch next year
Brazilian billionaire developer Jose Isaac Peres submitted plans for a boutique, luxury condo building on Ocean Drive in South Beach.
An affiliate of Peres’ Multiplan Real Estate Asset Management is proposing to build 312 Ocean Park, a 10-unit, four-story condominium at 304 and 312 Ocean Drive in the South-of-Fifth neighborhood, according to documents filed with the city.
Rio de Janeiro-based Multiplan is one of the biggest shopping mall owners in Latin America, and has also built a number of mixed-use projects connected to retail developments, according to its LinkedIn page. In Miami Beach, Multiplan built Il Villaggio, a luxury condo and retail development at 1455 Ocean Drive.
Peres, a part-time resident of Miami Beach, is also developing 57 Ocean at 5775 Collins Avenue. The luxury, 18-story, 81-unit condo building is under construction. Fortune Development Sales is handling presales of 57 Ocean, with prices ranging from $1.5 million to $31 million.ADVERTISING
The developer paid $9.85 million for the 11,500-square-foot site of 312 Ocean Park in December, Marcelo Kingston, managing partner of Multiplan, said. The property hit the market in 2017 for about $11 million. Marcus & Millichap’s Joseph Thomas, Adam Duncan and Brett McMahon brokered the deal. Sea Spray Development LLC, a company controlled by Yair Wolff, sold the lots.
The vacant site is across the street from Marjory Stoneman Douglas Park, a beachfront 2.5-acre public park.
Luis Revuelta of Revuelta Architecture is designing 312 Ocean Park. The historic preservation board has to approve plans for the project because it’s in the Ocean Beach Historic District. Kingston said the developer began meeting with neighboring associations last summer and secured endorsements from the condo boards at 301 Ocean Drive, led by Frank Del Vecchio, and Royal Atlantic.
The building will include two duplex penthouses and two lanai-style homes, and a private amenity deck with a pool.
Depending on the approval process, construction and sales could launch as early as next year with the building delivered about 12 to 14 months from groundbreaking, Kingston said.
Espectacular proyecto inmobiliario recrea la Riviera Francesa en Miami
Optimum Development lanza Mocano Yacht Club & Residences, un condominio de lujo que cuenta con diseños interiores creados por el reconocido Piero Lissoni.
Toda la belleza de la Costa Azul francesa se podrá disfrutar en Miami Beach, en el proyecto inmobiliario boutique Monaco Yacht Club & Residences, que ya comenzó sus ventas. El condominio de lujo desarrollado por Optimum Development USA, fue diseñado por Piero Lissoni y la empresa de arquitectura internacional Arquitectonica, dos de los nombres más reconocidos del mundo del diseño.
Con 12 pisos, el proyecto consta de 39 sofisticadas residencias con amplios espacios y vista al mar, en el 6800 de Indian Creek Drive, uno de los últimos lotes costeros de la zona. Los departamentos van de uno a cuatro dormitorios, en 286 a 905 mt2, con valores que van desde los USD $1.1 millones. El condominio tiene elegantes ascensores privados, pisos de madera europea personalizados y paredes de vidrio con impresionantes vistas panorámicas al océano. Mientras que los dos imponentes penthouses, cuentan con amplias áreas de estar expansibles, que incluyen más de 822 mt2 de terrazas privadas con espectaculares vistas.
Resaltando el estilo y la sofisticación del proyecto, los departamentos tendrán cocinas contemporáneas italianas Boffi, techos de 3 metros de altura, grandes walk-in closets y sistemas de automatización con tecnología de punta Crestron® Home Automation para “Edificios Inteligentes”. Asimismo, contará con pisos de mármol importados desde Italia y amplias bañeras y duchas de techo encerradas en paredes de cristal, con grifería de diseño Fantini.
Y para ofrecer lo mejor a sus residentes, el proyecto ofrece una marina deportiva con capacidad para 12 embarcaciones grandes, con servicio de conserjería para el mantenimiento y arriendo de los botes y comodidades adicionales que incluyen paddle boarding, kayak y mucho más.
Junto con todas las comodidades excepcionales ya mencionadas, Monaco Yacht Club & Residences contará con una impresionante terraza en la azotea, con vistas panorámicas del horizonte de Miami, piscina sin fin dotada de cómodas sillas para tomar el sol o descansar, jacuzzi, áreas de descanso bajo sombra, una parrilla y un centro de entrenamiento físico de vanguardia con vista a la Bahía de Biscayne.
“Combinamos diseño de clase mundial, una ubicación excepcional, vistas espectaculares y un estilo de vida de Miami Beach que celebra lo mejor de la vida urbana frente al mar” señala Ricardo Tabet, CEO de Optimum Development USA, sobre el proyecto.
Monaco Yacht Club & Residences es un proyecto único en la zona, que otorga exclusividad y grandes espacios para el entretenimiento interior y al aire libre. El centro de ventas está actualmente en construcción, para abrir sus puertas en el 6899 de Collins Avenue a partir de septiembre. Para obtener más información, visite http://monacoyachtclubresidences.com/
Jade Signature condo sells for $19M
One of the highest condos in the 57-story Jade Signature in Sunny Isles Beach was sold for $18.5 million.
Read full article here.
Miami’s Tallest Tower secures $425M Loan
Panorama Tower, the tallest building in Florida, was refinanced with a $425
million
Wells Fargo Bank, as administrative agent for a group of lenders, awarded the mortgage to an affiliate of Florida East Coast Realty (FECR).
Read the full article here.
Optimum development USA lanza su nuevo desarrollo inmobiliario Mónaco Yacht Club & Residences en Miami Beach
Por Revista Summa
El estilo de vida de la Costa Azul llega a las orillas de Miami Beach, con Monaco Yacht Club & Residences, un nuevo condominio de lujo frente a la bahía de Miami Beach creado por Optimum Development USA, y con venta exclusiva por Fortune Development Sales.
En colaboración con dos nombres de reconocimiento mundial en diseño, Piero Lissoni y la firma internacional de arquitectura Arquitectónica, el proyecto boutique de 11 pisos contará con 39 exquisitas residencias frente al mar que ofrecen el mejor estilo de vida en sus espacios interiores y exteriores. Ubicado en el codiciado barrio de North Beach en 6800 Indian Creek Drive Miami Beach, Monaco Yacht Club & Residences será construido en una de las últimas propiedades frente al agua que quedan en el área.
El diseñador de interiores italiano de renombre mundial, Piero Lissoni, será el artífice del exquisito diseño de cada una de las lujosas residencias con meticulosa atención a los detalles, incluyendo los refinados accesorios y acabados de fabricación italiana, del vestíbulo y el salón principal para residentes, “Resident’s Lounge”, que cuenta con una biblioteca y un comedor diseñado para disfrutar de una cena frente al mar.
Los elegantes ascensores privados conducirán a las sofisticadas residencias que van de una a cuatro habitaciones. Las residencias varían en tamaño desde 87 hasta más de 465 metro cuadrados, con precios comenzando $ 1.1 millones. Los ventanales panorámicos de piso a techo ofrecen espectaculares vistas directas al agua; cada una de las modernas unidades se entregarán completamente terminadas con pisos de madera europea y exclusivos paquetes de diseño a medida de Lissoni®. Una colección limitada de dos impresionantes penthouses ofrecerá amplias salas de estar, que incluyen más de 250 metros cuadrados de terrazas privadas con espectaculares vistas al océano.
El estilo y la sofisticación del proyecto se hacen evidentes en las cocinas italianas contemporáneas de Boffi® con mesones de piedra, techos de 3.5 metros de altura, amplios vestidores y sistemas de automatización para el hogar Crestron® que aportan tecnología puntera en edificios inteligentes. Los pisos de mármol italiano importado, las amplias bañeras y las duchas tipo lluvia con paredes de vidrio, así como los grifos de diseño Fantini® se suman a los interiores de los baños de primera calidad.
Sus amplias terrazas envolventes de gran tamaño con pisos y techos terminados ofrecen vistas panorámicas de la Bahía de Biscayne, el Océano Atlántico y el horizonte de Miami. Cada residencia ofrece cocinas al aire libre y los implementos necesarios para el disfrute de la vida tanto en interiores como exteriores.
“Para los compradores en búsqueda de bienestar y que prefieren la intimidad de un edificio boutique de servicio completo, Monaco Yacht Club no tiene comparación”, dijo Ricardo Tabet, CEO de Optimum Development USA. “Combinamos un diseño de clase mundial, con una ubicación excepcional, unas vistas asombrosas y un estilo de vida de Miami Beach que celebra lo mejor de la vida urbana frente al mar”. Monaco Yacht Club & Residences ofrece a sus residentes servicio de conserje de yates para necesidades de mantenimiento, viajes chárteres o excursiones de vela y pesca a las Bahamas y los Cayos de la Florida. o para disfrutar del Océano Atlántico y lo mejor de la vida costera del sur de Florida. Los servicios de entretenimiento adicionales frente al mar incluyen botes de remos, kayak y mucho más. “La ubicación privilegiada frente al mar de Monaco Yacht Club y sus lujosas amenidades lo convierten en un edificio diferente a cualquier otro en el mercado de Miami Beach”, dijo Edgardo Defortuna, presidente y CEO de Fortune International Group.
“La exclusividad, las vistas y el estilo de vida frente al mar en este edificio boutique son para el comprador distinguido que desea disfrutar de lo mejor que Miami Beach tiene para ofrecer desde la comodidad de su hogar. Estamos encantados de liderar las ventas de lo que seguramente será una propiedad muy codiciada y esperamos poder presentar el proyecto a la extensa red de agentes inmobiliarios y compradores de Fortune “.
La gran cantidad de excepcionales y comodidades que ofrece la propiedad incluyen una impresionante terraza en el último piso con vistas panorámicas del horizonte de Miami con una piscina, jacuzzi y áreas de descanso en la sombra, espacio de parrillas para residentes e invitados, así como un gimnasio de última generación con vistas a la bahía de Biscayne. El centro de ventas, también curado por Piero Lissoni, se encuentra actualmente en construcción y abrirá este mes en 6899 Collins Avenue.
Monaco Yacht Club & Residences scores construction loan, to launch sales later this month
January 2019
Optimum Development USA is building the 11-story, 39-unit boutique luxury condo project
Optimum Development USA just scored a $55 million construction loan as it prepares to launch sales of Monaco Yacht Club & Residences in Miami Beach, The Real Deal has learned.
The boutique, luxury condo project is planned for 6800 Indian Creek Drive on one of the last remaining vacant bayfront sites in North Beach. The 11-story, 39-unit development is designed by Arquitectonica with the common areas and units finished by Italian designer Piero Lissoni. Och-Ziff Capital Management Group is providing the loan, said Ricardo Tabet, CEO of Miami Beach-based Optimum Development USA.
Condos will range from 918 square feet to more than 5,000 square feet, and will be priced from $1.1 million to more than $8 million. Each unit will have a direct water view.
Tabet tapped Fortune International Group to exclusively handle sales and marketing, and sales will launch by the end of January. A sales center will open later this month at 6899 Collins Avenue.
Tabet said his aim is for the nautically themed, waterfront condo building to have a European feel, reminiscent of Monte Carlo — hence the name Monaco Yacht Club & Residences. The project will also have a 12-slip marina.
Features will include floor-to-ceiling glass windows, European custom wood and Italian marble flooring, Lissoni design packages, Boffi contemporary kitchens and Crestron home automation systems. The units will also have wraparound terraces with summer kitchens. Other amenities at the building will include a gym, a yoga space and a rooftop terrace with a pool and Jacuzzi.
Despite the condo market slowdown, Tabet said he is confident that the condos will appeal to wealthy buyers who want a boutique building. He believes demand for such a product in Miami Beach outpaces supply.
“There is a niche market of buyers that today are not affected by whether the stock market goes up or down or whether the dollar is strong or weak,” Tabet said. “They are rich people looking for a lifestyle and they are not affected by any of these short-term variables.”
Edgardo Defortuna, president and CEO of Fortune, said he will be targeting European and Latin American buyers, particularly in the United Kingdom, Italy, Mexico, Brazil and Argentina, as well as Northeasterners.
“It’s a great show of confidence that they obtained the construction loan even before launching sales, and credibility that the building is going to happen is key to consolidate sales,” Defortuna said.
Site work has begun and the project is expected to go vertical within the next three months and will be completed in about two years.
The condo project has been in the works for several years. Records show Optimum’s 6800 Indian Creek LLC paid $11.25 million for the vacant site in January 2014.
In the meantime, North Beach has begun a transformation, following the city’s approval last year of upzoning that allows property owners to build twice as much as they were previously allowed in the Town Center area between Indian Creek Drive, Dickens Avenue, 72nd Street, Collins Avenue, and 69th Street.
Optimum Development USA, a subsidiary of the Luxembourg-based Optimum Asset Management Group, is also completing the Celino South Beach, a four-building resort that will feature 132 rooms, 33 suites, three restaurants and bars and two pools, including one on its rooftop. Tabet said the opening is now expected by the end of the first quarter.
In addition, the firm is developing the Optimum office tower in Coconut Grove. The five-story, 65,000 square-foot office building will have a Mediterranean restaurant on the ground-floor as well as a rooftop restaurant. It is also expected to be completed by the end of the first quarter, and is slated to be the area’s first new Class A office building in more than 25 years.
Fortune’s Vaster Capital partners with Related Group to expand lending firm
January 2019
Rialto is now out at the bridge lending firm it co-founded with Fortune International Group
Rialto is out and Related is in at Vaster Capital.
Fortune International Group is now partnering with the Related Group as its Vaster Capital expands into commercial lending. Fortune and Rialto partnered to launch the bridge lending firm in 2017 and Vaster has since closed more than $150 million of loans for residential properties in South Florida.
Lennar Corp. recently sold Rialto Investment and Asset Management to the private equity firm Stone Point Capital for $340 million, and Fortune had the opportunity to buy back Rialto’s ownership in Vaster Capital, said Edgardo Defortuna, president and CEO of Fortune.
Rialto’s involvement limited Vaster Capital’s lending to residential, but now the firm is expanding to commercial and land lending. Loans offered typically start from about $300,000 to $500,000 and increase from there. Vaster plans to provide loans totaling about $150 million in 2019, Defortuna said.
The partnership is an expansion of a joint venture Fortune had with Related to provide financing to buyers at Related projects represented by Fortune. Vaster has already lent to buyers at Related projects like Brickell Heights, SLS Lux and the Paraiso District, Defortuna said.
The partnership brings together two of South Florida’s largest condo developers. In addition to projects like Jade Signature and The Ritz-Carlton Residences, Sunny Isles Beach, Fortune handles sales and marketing for 16 developments totaling more than $6.1 billion, according to a release. And Related is the largest condo builder in Miami with more than 9,500 units either proposed, under construction or built since the cycle began in 2011.
While the firm will lend to local buyers as well, it’s focused more on providing loans to foreign buyers, and Defortuna said Vaster has more familiarity with the preconstruction condo market than other lenders. “It’s more applicable and more attractive to the buyer that doesn’t have banking relationships here and needs a quick solution for the next two or three years,” he added.
Vaster is offering loans with rates starting at 7.59 percent and no pre-payment penalties, as well as the ability to fix rates for its borrowers for periods of up to three years.
El magnate que transformó el sector inmobiliario en Miami invierte en Uruguay
November 2018
Edgardo Defortuna es argentino y se estableció en EE.UU. cuando era joven; más que “ubicación, ubicación, ubicación”, su lema para el negocio es “timing, timing, timing”
Edgardo Defortuna es argentino y se estableció en EE.UU. cuando era joven; más que “ubicación, ubicación, ubicación”, su lema para el negocio es “timing, timing, timing”
Transformar el skyline de Miami es un sueño que este ingeniero electromecánico argentino de 59 años no tenía cuando en los ochenta viajó a EE.UU. Su intención era quedarse tres meses para perfeccionar su inglés, pero terminó construyendo su propio «imperio» en el real estate de lujo:hoy controla un grupo líder que cuenta con inmobiliaria, desarrolladora de proyectos y hasta una financiadora. Su precoz éxito en el rubro inmobiliario lo llevó a cursar un MBA y establecerse en ese país, donde hoy comercializa unidades a precios millonarios. Habló sobre su historia, las demandas del consumidor premium, de la economía argentina, de su «olfato» para invertir y también del complejo AVA (próximo al Parque Roosevelt) que su empresa construirá en Uruguay. Está casado hace 23 años y tiene tres hijos a los que disfruta de acompañar en competencias deportivas.
Estudiaba inglés en Miami y se ganaba unos pesos administrando inmuebles de conocidos. ¿Cómo convirtió eso en un negocio millonario?
Mis padres y algunos de sus amigos tenían algunas inversiones inmobiliarias en Miami. Yo nací en Buenos Aires pero me crié en Córdoba y en ese momento, a mitad de los 80’, la gente no viajaba tanto, iba a Miami una vez al año si es que iba, y había un poco más de secreto o confidencialidad sobre los activos que tenían afuera. Esas personas no querían lidiar con llamados de los inquilinos en EE.UU. diciendo que se les rompió el refrigerador, había una necesidad del inversor latinoamericano de que alguien le proveyera esos servicios. Y el broker típico de Miami, como Century 21, no entendía su idiosincracia y filosofía. Empecé mi compañía con dos empleados. En esa época, había un boom de inversores de Argentina, Venezuela y algo de Brasil, que veían en Miami la oportunidad de invertir en una economía más estable. Hicimos acuerdos con brokers de diferentes ciudades latinoamericanas para ir a buscar a esos interesados y mostrarles lo fácil que era comprar una propiedad en EE.UU. Con el tiempo, Fortune se convirtió en puerta de entrada al mercado para el público latinoamericano. Más tarde, creamos una desarrolladora atendiendo las necesidades y estilos de vida del comprador latinoamericano.
La demanda por un «pedacito de Miami» ha crecido desde entonces. ¿Aún hay terrenos disponibles?, ¿en qué situación está la oferta?
Es muy difícil hoy conseguir terrenos sobre el mar. Para darle un ejemplo, el último terreno que compramos, que es de 150 metros sobre el mar en un área de Miami que se llama Sunny Isles (a cinco o 10 minutos del Aventura Mall y del mall de Bal Harbour) era un edificio de condominios antiguo, de 346 unidades, y las tuvimos que comprar una por una. Lo hicimos durante dos años y medio hasta poder conseguir el 100%, para terminar el condominio existente, voltearlo y así tener un terreno sobre el mar, pagando un 50% más a cada uno de lo que valían sus unidades. El valor del terreno resultó muy atractivo si se compara con el de un terreno vacío, pero era un riesgo porque podíamos quedar a mitad del camino… pero pensamos que era una oportunidad y así lo hicimos. Hay que ser muy creativo en este tipo de cosas. La disponibilidad es cada vez más escasa y por eso nuestros próximos proyectos los estamos pensando más hacia el norte, hacia Fort Lauderdale y Palm Beach.
¿Cuál es la rentabilidad que ofrece Fortune al inversor?
Como en todas las cosas es una cuestión de timing, pero hoy el mercado de Miami está mucho más maduro y estable. En general, el rendimiento típico para el capital de un proyecto (con el financiamiento incluido) es de un 20% o 25% anual. Es decir, al término final del proyecto el inversor recibe entre el 80% y el 100% del retorno total. En otras palabras, tratamos de lograr que si puso 100 se lleve 200 al final. En general, en los proyectos de alto nivel como los nuestros eso es muy factible. El de Jade Signature, para darle un ejemplo concreto, fue un éxito tan grande que los resultados son: quien puso 100 se llevó 350.EL DATO
32
Son los millones de dólares que cuesta la unidad más cara del proyecto Jade Signature, de 60 pisos y 192 unidades. En el otro extremo, la más barata tiene un precio de US$ 2,5 millones.
Para Fortune los costos financieros son favorables…
Son realmente bajísimos. Para darle una idea, por el préstamo que teníamos de Jade Signature pagábamos 1,58% anual. Es increíble que presten US$ 280 millones al 1,58%, pero el banco acompaña el éxito y si tenés buena reputación cree en tu solidez y te da financiamientos muy atractivos. Hoy ha subido un poco la tasa, pero en vez de 1,58% estará a 2,58%; todavía sigue siendo atractiva y no impacta demasiado en el resultado final si el timing es bueno.
¿Qué perfil de inversores tienen?, ¿fondos o particulares?
Hacemos una combinación. A veces lo estructuramos con inversores privados en su totalidad o a veces parcialmente. Hay dos o tres proyectos ahora donde tenemos la mitad de inversores institucionales (fondos) y la mitad privados y conviven bastante bien. Al privado le encanta que haya un fondo porque hace por él los deberes, el due dilligence. Sabe que si el fondo equis de US$ 20.000 millones invirtió en determinado proyecto, analizó todo para estar seguro de que sea un éxito. Antes el dueño de la plata o el family office investigaba un poco más, pero ahora el mercado es tan dinámico que prefieren que lo valide otro.
Fortune se enfocó en el segmento de lujo. ¿Cuánto cambiaron las necesidades del consumidor final?
Cambian constantemente. Tratamos de entender cuáles son las nuevas tendencias y de pensar no en lo que necesita la gente hoy sino qué va a necesitar en cuatro, cinco o seis años cuando el proyecto esté terminado. Antes la tendencia era hacer apartamentos muy grandes, con áreas sociales muy grandes, porque a la gente le gustaba recibir invitados en su casa, pero ahora por todos los costos que tiene no está llevando tanto personal doméstico de sus lugares de origen, entonces prefiere tener áreas más pequeñas. Y hoy quiere mucho menos show off (ostentación). Antes los lobbies eran todos del mejor mármol; ahora es menos ostentoso, con menos oro. El mundo está cambiando muy rápido y hay que ver cómo adaptarse. Tenemos que pensar muchísimo, por ejemplo, qué hacemos con la cantidad de paquetes que llegan al edificio de gente que está poco tiempo ahí. Antes el área de almacenamiento era un armario de dos por dos metros, ahora es un salón con todo clasificado, porque cada vez más las personas piden también lo que no necesitan, y lo devuelven sin cargo. Tengo clientes a los que, si les gustan unos zapatos, piden tres talles distintos por si acaso.
Me decía que el mercado de Miami está más maduro. ¿Cómo ve al argentino?
Yo adoro Argentina, pero es muy difícil trabajar en un mercado donde hoy el dólar vale 20 y en una semana vale 40 o los costos internos hoy son muy atractivos y mañana la inflación es muy alta. En proyectos de magnitud donde hay tres o cuatro años desde que se invierte hasta que sale es muy difícil pronosticar con esos altibajos.
Edgardo Defortuna. “De dos proyectos en Córdoba el bolsillo me quedó doliendo”. Foto: Francisco Flores.
Fortune invirtió en Córdoba. ¿Cómo le fue con esos desarrollos inmobiliarios?
Hicimos dos proyectos de tres torres cada uno (Chateau Village y Village Plaza) en el barrio Cerro de las Rosas. Están sobre el río con una vista espectacular, en el área residencial de más categoría en Córdoba. Me entusiasmé al principio con hacer Village Plaza porque era el club donde en mi infancia jugábamos al tenis con mis hermanos.Por cuestiones económicas lo estaban vendiendo y me lo vinieron a ofrecer. Hicimos los mejores edificios de Córdoba y la gente quedó extremadamente contenta, pero yo digo bromeando que el bolsillo me quedó doliendo. Fue por el problema país. Se lo explico con números no específicos:como el aporte de capital no está sujeto al ajuste por inflación, si traigo de afuera US$ 1 millón que al inicio son un millón de pesos argentinos, y me llevo al final del proyecto el mismo millón de dólares que son 10 millones de pesos, el fisco argentino dice que gané 9 millones de pesos y me hace pagar el 35% sobre esos 9 millones. Entonces, en realidad para recuperar la inversión no solo tengo que ganar el 30% en pesos sino también el 30% en dólares. Hasta que no mejoren ese tipo de situaciones va a ser difícil conseguir inversión extranjera seria.
¿Esa vez le falló el olfato?
A veces un mal proyecto en un buen timing tiene buen éxito económico y otro buen proyecto en un mal momento tiene un resultado económico diferente o negativo. Así que más importante que el lema (del real estate) de «ubicación, ubicación, ubicación» para mí es «timing, timing, timing». Y sobre todo en América Latina, donde si las cosas cambian en el medio y el tipo de cambio y la inflación te juegan en contra te puede ir mal, pero el olfato fue bueno al principio.
Los «cuadernos de las coimas» impactaron en la construcción de su país. ¿Un inversor extranjero puede recuperar la confianza en el sector privado argentino?
No estoy muy familiarizado con el tema, pero no es fácil hacer borrón y cuenta nueva. Lamentablemente, están pagando justos por pecadores. El jefe de crédito internacional de un banco muy importante de EE.UU. me dijo que hace unos meses se estaban enfocando en que Argentina estaba muy bien e iban a empezar a dar crédito para obra de construcción, pero ahora estaba muy preocupado porque no podía prestar a los que ya habían salido en los cuadernos, pero tampoco a los que no, porque no sabía si mañana iban a salir. Así que decidió parar el crédito. Por eso hay que tener cuidado. Siento que empezaron haciendo las cosas muy bien y trataron de eliminar la corrupción que estaba muy aferrada en Argentina, pero en un momento hay que decir «hasta acá llegamos» y no enfocarse tanto en combatir lo malo sino en hacer lo bueno. Esa es mi visión como un empresario que mira con cariño desde afuera.EL DATO
30
Son los millones de dólares de inversión inicial en AVA (para la primera de cinco torres). Se trata del proyecto que Fortune International Group construirá y desarrollará en Uruguay.
AVA potenciará al Parque Roosevelt como “amenity”
¿Cómo se dio la inversión de Fortune en AVA en Uruguay, el complejo ubicado en la esquina de Avenida de las Américas y Avenida a la Playa?
El fondo institucional Compass tenía este proyecto avanzado y casi aprobado. Con ellos hace tiempo veníamos hablando de trabajar juntos. La construcción va a empezar de todas maneras, no depende tanto de las ventas. Tiene todos los ingredientes para ser un éxito y vamos a trabajar para darle personalidad y carácter, el «toque Fortune». AVA está dirigido a un público joven mediano-alto, a hijos de familias que tienen casas en El Pinar o Carrasco, que quieren estar cerca en un ambiente más joven, con amenities, sin problemas y en contacto con la naturaleza. Tenemos muchas ideas. Queremos crear más activación en el Parque Roosevelt, hemos hecho algo parecido en Paraguay. Creo que es un amenity pegado que podría tener muchísimo más vida, para que la gente disfrute la naturaleza con bicis, áreas de caminar y puntos de entretenimiento para niños, teniendo en cuenta la ecología… Hablé con la Intendencia de Canelones y están muy interesados. Esperamos que AVA sea la primera de varias cosas que hagamos en Uruguay.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
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:
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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.”
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.”
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.
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.
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.
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.
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.)
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.
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.
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.
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.
Una Residences: Un proyecto de viviendas de lujo en Miami
Una Residences was recently featured on Trendiando’s YouTube channel. View the video here.
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.”
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.
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.
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.”
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.
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.
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
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.
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.
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.
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.
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.
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.
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”.
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.
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.
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.
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?”
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
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.
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.”
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.
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.
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.
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:
- Address: 1001 South Miami Avenue
Miami, FL 33130 - Website: www.brickellflatiron.com
- Phone: 305-305-6776
- Email: crainer@brickellflatiron.com
- Instagram: https://www.instagram.com/brickellflatiron/
- Facebook: https://www.facebook.com/brickellflatiron/
- Twitter: https://twitter.com/brickellflatirn
- Yelp: Schwartz Media Strategies
- Other: Schwartz Media Strategies
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.
5 Questions with Developer Vladisdav Doronin
April 2018
Developer Vladisdav Doronin took part in a Q&A session. Read the full feature here.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.”
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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, s