Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo

The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.

The developer agreed to a $120 million bid for the oceanfront property located at 8777 Collins Ave. via one of their US entities, East Oceanside Development, LLC. in September 2021. Court-appointed trustee Michael Goldberg issued the deed for the site at 8777 Collins Avenue which spans ±1.88 acres or ±81,886 square feet. The proceeds from the sale will go toward the $96 million settlement for the Champlain Towers South unit owners who lost their home in the tragic collapse.

The Cavallli Surfside condo will be DAMAC Properties’ first project in the United States. Sajwani’s private equity firm Vision Investments purchased the Cavalli luxury fashion brand in 2019. DAMAC Properties launched a 70-story Cavalli Tower in Dubai in 2021.

Honorable Judge Michael A. Hanzman and the court appointed receiver Michael Goldberg tabbed Avison Young, led by Michael T. Fay, to market the property in late-August 2021. Avison Young’s Michael T. Fay and his team John K. Crotty, David Duckworth, Brian C. de la Fé, and Berkley K. Bloodworth oversaw the sale, pro bono.

Witkoff And Monroe Capital Announce Restoration And Redevelopment Of Iconic Shore Club Hotel In Miami Beach

Witkoff and Monroe Capital have announced a partnership with world renowned Robert A.M. Stern Architects to restore and redevelop the iconic Shore Club Hotel at 1901 Collins Avenue in Miami Beach. On November 15th, 2021, Witkoff and Monroe Capital filed an application with the City of Miami Beach for approval of the renovation and redevelopment of the Shore Club and Cromwell property by the Historic Preservation Board.

The Shore Club Hotel, a South Beach institution since 1949, is a private residential resort and boutique hotel set within a lush botanical landscape on Miami Beach. The Mid-Century Modern or “MiMo” style Shore Club Hotel was combined in 2001 with the Cromwell Hotel, an Art Deco-style hotel built in 1939. Uniquely situated in the Miami Beach Architectural (Art Deco) District and listed in the National Register of historic places, the Shore Club Hotel, is a “club” in every aspect of the word, inviting a sense of exclusivity. The newly reimagined luxury offerings will include 80 custom-designed residences and 65 boutique hotel suites, combining classic elegance with modern luxury. Given Witkoff and Stern's long history of preserving and restoring historic structures, the restoration and redevelopment of the legendary Shore Club has a veritable Historic Preservation Dream Team helping to bring the project to fruition.

The Shore Club Hotel’s storied history will be preserved while redeveloping the property into a new Miami Beach icon designed through a contemporary lens, embracing and enhancing its heritage. The proposed plan prioritizes maintaining the contributing historic structures of the original Cromwell and Shore Club hotels while building an additional two new structures on the property: a residential building and a private villa. In addition, the exterior will include three pool decks for residential and hotel use, a remodeled exterior dining area, an exterior cafe, all set among a lush tropical oasis.

To honor the Shore Club’s rich history, the interior plans include a complete restoration of the lobby to its original grandeur and renovation of its hotel suites, two world-class food offerings, carefully curated amenities catering towards every need of the individual residents and guests, a state-of-the-art gym facility, and private screening and lounge rooms.

Witkoff’s long, successful history of restoring and redeveloping properties of historical significance includes the iconic Woolworth Building, Daily News Building, 55 Wall Street, One Broadway in Manhattan, and Shell Mex House and Devonshire House in London as well as the Hilton Cabana in Miami Beach. Witkoff and Monroe Capital prioritized expertise in historic preservation and compatible new construction in selecting architect, teacher and writer Robert A.M Stern to lead the Shore Club’s design, with historic renovation projects including 18 Gramercy Park South (renovation of a women’s boarding house into a condo), The Claremont (a residential tower addition to the Union Theological Seminary) and The Belnord (partial renovation of an historic rental building into a condominium).

Heritage Architectural Associates, led by Steven Avdakov, an architect specializing in historic preservation, is serving as the Historic Preservation Consultant on the project to preserve and restore the authenticity of the original structures and interior. The design team also includes acclaimed Kobi Karp Architecture & Interior Design, as well as landscape architecture firm Island Planning Corporation, led by founder Nathan Browning.

“Witkoff is honored to have the opportunity to restore and redevelop the Shore Club and Cromwell back to their original grandeur,” said Alex Witkoff, Principal of Witkoff, “We look forward to collaborating with the City of Miami Beach, the Historic Preservation Board and the community to ensure that our vision honors the Shore Club and Cromwell’s storied histories.”

“As Miami Beach increasingly grows as a global city, historically significant projects like this define and contribute to its thriving culture and flourishing economy.” adds Kyle Asher, Managing Director of Monroe Capital.

“The historic preservation of the original Cromwell and Shore Club Hotel is essential to the restoration due to the buildings’ status as designated historic structures and to preserve the history of Miami Beach as a whole,” stated Historian Steve Avdakov on the nature of the project.

“From the outset of the conceptualization of this project, the team focused on ensuring the historical integrity of the Shore Club and leading with a contextual design approach that complements the surrounding community. It is critical to preserve the historic integrity of iconic properties like the Shore Club and Cromwell,” said Paul Whalen, Partner of Robert A.M. Stern Architects. “Our design strategy and approach for the project was heavily influenced by their storied history.”

Renderings via Kobi Karp

The Dubai-Based DAMAC Properties Revealed As $120 Million Stalking Horse Bidder Of Site Of Collapsed Surfside Condo

The stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021 has been revealed as the Dubai-based DAMAC Properties, led by billionaire developer Hussain Sajwani. The developer agreed to a $120 million bid for the oceanfront property located at 8777 Collins Ave. via one of their US entities, East Oceanside Development, LLC. East Oceanside Development will be required to submit a $16 million deposit with $150,000 non-refundable and the developer will now begin two months of due diligence on the site. The Surfside land at 8777 Collins Avenue spans ±1.88 acres or ±81,886 square feet.

Once the initial bid is finalized by Honorable Judge Michael A. Hanzman other developers will be able to submit bids on the property to potentially push the price higher. Judge Hanzman has the final decision over which developer wins the bidding considering input from the lawyers overseeing the class-action negligence case with the final decision expected in the spring of 2022. Hanzman wants the sale to produce as much proceeds as possible in order to help compensate the families of the 98 people who lost their lives in the collapse and countless others who lost their homes. The victims and their families will also be the beneficiaries of a $49 million insurance payout.

Honorable Judge Michael A. Hanzman and the court appointed receiver Michael Goldberg tabbed Avison Young, led by Michael T. Fay, to market the property in late-August. Avison Young’s Michael T. Fay and his team John K. Crotty, David Duckworth, Brian C. de la Fé, and Berkley K. Bloodworth are spearheading the sale, pro bono.

Starwood Capital Group To Break Ground On Office Building At 2340 Collins Avenue In South Beach

Starwood Capital Group has filed construction and demolition permits to build a new commercial building at 2340 Collins Avenue in South Beach which will feature both office space and retail. The project will offer 136,342 SF of office space, 8,088 SF of retail which will also feature restaurant space and 305 parking spaces. The project, which is located across from 1 Hotel where the old Avis rental car stands and next to The Gates Hotel South Beach, will also bring a pedestrian paseo with lush landscaping and water features to the property. A joint venture between Coastal Construction and Brodson Construction will be the general contractor for the project.

Starwood Capital Group Proposes Gensler-Designed Office Building On Collins Avenue in Miami Beach

Barry Sternlicht’s Starwood Capital Group has proposed a 6-story office building designed by Gensler Architects on Collins Avenue in Miami Beach. The proposal calls for 136,342 SF of Class A Office Space and 8,088 SF of retail as well as 305 parking spots. There will also be a 25’ pedestrian paseo connecting Collins Avenue and Liberty Avenue which will feature restaurants and retail. The rooftop will offer flexible outdoor working space for use of penthouse office tenants. The building will be located at 2340, 2322 and 2318 Collins Avenue, on 52,725 SF of land which North Bay Owner Holdings LLC purchased for $22 million. The project will seek LEED Platinum and Wellness certification. As the project is in excess of 50,000 SF it is currently awaiting approval from Miami Beach’s Planning Board and a hearing is schedule for November 27.

For more information about office space on Miami Beach, private showings or purchasing/ leasing information please fill out the form below:

Check Out This Lavish Condo Which Is Currently The Highest Priced Listing In FAENA District's The Caribbean

A lavish condo owned by London based artist, Izabella Kay, which featuring her artwork throughout, has hit the market as the highest priced residence in FAENA District's The Caribbean condo building. Asking $4.45 million, 3737 Collins Avenue S-1102 is a fully furnished, 3 bedroom, 3.5 bath condo featuring 2,326 SF feet of interior space and unobstructed ocean views from the 844 SF balcony. The home features marble floors, an exquisite double door foyer that opens to panoramic ocean views, a chef island gas kitchen and beautiful bathrooms featuring wood vanities. The residence also boasts a sensual master bath designed by Madonna’s brother, Christopher Ciccone. The Carribean's amenities include a private wine room, humidor, coffee lounge, pool, beach chair service, gym, a sitting area by the reflection pools. 3737 Collins Avenue S-1102 is currently listed for $4,450,000 with Ida Schwartz and Minette Schwartz with the Schwartz Team of ONE Sotheby’s International Realty.

Photos via MLS Real Estate Photography

Inside The Building Collapse At The Future Site Of Brazillian Billionaire Jose Isaac Peres' 5775 Collins Ave In Miami Beach

Miami is never short of real estate drama, but what happened yesterday in Miami Beach is a true rarity as the shell of the former Marlborough House, located at 5775 Collins Avenue has come crashing to the ground. The accidental collapse shut down a large portion of Collins Avenue and has left a project manager hospitalized in critical condition. The demolition was supposed to take 2 weeks and was being overseen by subcontractor AlliedBean. Winmar Construction, the contractor for the project applied for a demolition permit in August 27, which was denied before reapplying and being issued a conventional demolition permit in May 2018. Wimnar has since stated that AlliedBean Demolition Contractors was responsible for all demolition work. 

The project has not been without its other share of drama, as neighbors opposed the project when first revealed, complaining about a "Condo Canyon" effect which is caused by newer building taking up the entire lots they are built on in terms of width. This would block partial views of the ocean as well as limit public access to the beach. The proposal was later approved by the Miami Beach Design Review Board in December 2017. 

The new building at 5775 Collins, which is being developed by Jose Isaac Peres' Multiplan Real Estate Asset Management and is being designed by Arquitectonica. The luxury residential tower will rise 17 stories and feature 89 units. The building would also feature 2 levels of semi-subterranean parking. The proposed tower is outfitted with white stucco-tipped slabs with a glazed glass skin on the units. The balconies will be finished with with a warm brown wood, with planks oriented and glass rails. There will also be 2 penthouses with private pools. Amenities will include a beachfront pool and lounge areas. No new adjusted timeline has been released following the collapse. 

Check out the video of the collapse below:

Photos via Sun Sentinel & Arquitectonica 

Tour PHVC At The Setai Hotel Miami Beach Which Just Sold As The Highest Priced Closing Since 2014

PHVC in The Setai Hotel Miami Beach has just closed for $9.525 million, the highest priced condo sale in the hotel since 2014. The residence was originally listed for $11 million and has been tied to Russian oligarch Oleg Baibakov. The residence offers 3 bedrooms, 3 bathrooms and 1 half-bath spread over 3,571 SF complete with and Italkraft kitchen, smart home features and 270-degree exposure. Amenities include three oceanfront infinity pools which are heated to different temperatures, full service beach-club, full-service spa, fitness center, private VIP entrance, a dedicated concierge, access to the house cars, and restaurants including Jaya. PHVC was listed with The Bill & Bryan Team at Douglas Elliman. Baibakov first listed the unit in 2014 for $17 million and he is currently developing Missoni Baia in Edgewater.

Cleveland Indians First Baseman Yonder Alonso Lists Miami Beach Condo in MEI For $1.995 Million

Cleveland Indians first baseman Yonder Alonso has listed his Miami Beach condo in MEI Condominium for $1.995 million. The penthouse residence features 2-bedrooms and 2.5 bathrooms spread over 1,556 SF. The two-story residences features floor-to-ceiling glass with views of both the Atlantic Ocean and Intracoastal waterway. The residence was custom designed by world renowned interior designed Briggs Solomon. The layout features a kitchen and living room located downstairs with the 2 bedrooms upstairs and balconies on both levels. 

Amenities at MEI include a tea lounge and library, spa, steam room, fitness center with innovative smart technology, concierge services, beach access, a pool and food and beverage services.
 
Alonso has also played for Cincinnati Reds, San Diego Padres, Oakland Athletics and Seattle Mariners.

The 5875 Collins Avenue #PH4 is currently listed for $1,995,000 with Jeff Miller of Brown Harris Stevens Miami.

Photos via Brown Harris Stevens

Featured Listing: Explore A Palatial, Sophisticated Bal Harbour Full-Floor Penthouse Spread That Spares No Expense to Detail

Step inside this palatial, sophisticated full-floor penthouse spread at The Palace at Bal Harbour. The penthouse features designer finished millwork throughout with direct ocean views. The residence is spread over 7,380 SF spread over 4 bedrooms, 5 full-bathrooms and 1 half-bath. Features include a greatroom with formal living area, wet bar and dining room; chef's kitchen, media room, office, private elevator foyer with direct entry, and a large master-suite with direct ocean views and a lavish master-bathroom complete with soak-in tub and a large shower with unobstructed, direct ocean views.The unit comes with a 210 SF poolside cabana included in the sale. 10101 Collins Ave, PHE is currently listed for $7,990,000 with Eyal Golan and Debra Golan of Douglas Elliman.