Elysee Investments Acquires Retail Property Across From Former Deauville Development Site For $5.5 Million
Elysee Investments, one of Miami Beach’s largest retail owners, $5.5 million sale of 6644 Collins Ave. in Miami Beach, an 8,700-square-foot corner retail property with four tenants. The one-story, freestanding building is located directly across the street from the famed, 3.8-acre Deauville Hotel site, which features 500 feet of beachfront. The Deauville Hotel site has made headlines for years as the famed hotel fell into an unsalvageable state before controversially being demolished.
Elysee Investments, one of Miami Beach’s largest retail owners, $5.5 million sale of 6644 Collins Ave. in Miami Beach, an 8,700-square-foot corner retail property with four tenants. The one-story, freestanding building is located directly across the street from the famed, 3.8-acre Deauville Hotel site, which features 500 feet of beachfront. The Deauville Hotel site has made headlines for years as the famed hotel fell into an unsalvageable state before controversially being demolished. Miami Beach voters then rejected a proposal from Stephen Ross’ Related Companies to develop an Equinox-branded two tower hotel and residential luxury project designed by legendary architect Frank Gehry.
Berkshire Hathaway HomeServices EWM Realty top-producer and Senior Vice President Nelson Gonzalez marketing the property on behalf of the seller. Elysee Investments was assisted by Greg Greer of CRR of South Florida, LLC.
“This property represents tremendous opportunity at the epicenter of one of the area’s most exciting, up-and-coming beachfront neighborhoods,” said Gonzalez. “The building’s value is only set to skyrocket once the Deauville site is purchased and developed into a multi-billion-dollar, ultra-luxe condominium or hotel – which will be transformative for this part of North Beach and its future growth. Just a block from the sand, 6644 Collins Ave. is ideally positioned to capture a heightened inflow of foot traffic and high-end business activity as well-heeled consumers continue to descend on the area.”
All four tenants, Venezia Bar & Pizzeria, Pink Donuts, NoBe Yoga, and Mr. Blendz Barber Shop -- will remain in place.
Images via Luxehunters Productions
Ugo Colombo Completes Miami’s Tallest Condo Tower As CMC Group’s Brickell Flatiron Receives TCO
Brickell Flatiron, CMC Group’s new 64-story luxury condominium tower in Downtown Miami’s Brickell Financial District, has received its Temporary Certificate of Occupancy (TCO) from the City of Miami. The milestone opens the door for closings to get underway as buyers take ownership of their residences, begin interior build-outs, and prepare to move-in this fall.
Brickell Flatiron, CMC Group’s new 64-story luxury condominium tower in Downtown Miami’s Brickell Financial District, has received its Temporary Certificate of Occupancy (TCO) from the City of Miami. The milestone opens the door for closings to get underway as buyers take ownership of their residences, begin interior build-outs, and prepare to move-in this fall. With its distinct flatiron shape and curvilinear façade designed by architect Luis Revuelta, the 736-foot-high, 64-story, Brickell Flatiron tower becomes the tallest condominium south of New York City. Approximately 95% of the development’s 527 units have already been sold, with remaining residences priced from $790,000 to $3 million, and one upper duplex penthouse for $8 million.
Brickell Flatiron has attracted a diverse mix of residents since launching in 2015, including a significant percentage of domestic buyers. While the tower has enjoyed steady sales activity among buyers from Mexico, Argentina, Italy, Venezuela and Colombia, U.S. buyers have accounted for more than half of all unit sales to date. Approximately 70% of the building’s buyers came from U.S. markets, evidence that Americans are increasingly drawn to Downtown Miami’s urban lifestyle, which comes at a fraction of the price of luxury living in other gateway cities.
“When we started developing in Miami in the early 1990s, 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,” said developer Ugo Colombo, Founder of CMC Group. “Brickell Flatiron stands out for its unique luxury lifestyle woven into the urban landscape and is a reflection of Miami’s coming of age as a cosmopolitan city with a thriving downtown at its heart.”
Italian design architect Massimo Iosa Ghini used inspiration from Brickell Flatiron’s curved façade to outline the building’s sleek amenity spaces, creating a seamless transition from exterior to interior. The tower’s 64th-floor rooftop amenities encompass a Sky Spa, Sky Pool and Sky Gym with 360-degree panoramic views of the bay and downtown Miami’s glimmering cityscape. Residents have access to a host of therapeutic services and other offerings including private steam, sauna and locker facilities, a 6,300 SF state-of-the-art fitness center with Pilates, yoga and aerobics studios, and a juice bar. Additional features include a resort-style lap pool and separate children’s pool on the 18th floor, private movie theater with stadium seating, billiards and cigar room, wine cellar, 24-hour concierge and valet parking, on-site vehicle washing and detailing, and electric car-charging stations.
In 2016, CMC Group completed the $22.5 million sale of Brickell Flatiron’s 24,800 square foot ground-floor retail/restaurant space. The buyer, Elysee Investments, is a firm led by Avi Dishi of New York and Haim Yehezkel of Miami, which owns and manages a portfolio of commercial properties in New York and South Florida. Exciting tenants have already signed on to lease the space, including a popular London-based Japanese entertainment restaurant concept.
Delivery of Brickell Flatiron coincides with a rapid population boom in Miami’s urban core. Downtown Miami’s residential population has more than doubled since 2000 and grown by 40% since 2010, according to a recent demographics study by the Miami Downtown Development Authority. Today, more than 92,000 people live in the area and that number is expected to eclipse 100,000 by 2021. This growth has been driven by the rise of vertical residential towers and the activation of a thriving streetscape that ranks among the world’s most dynamic urban centers.
Photos via Golden Dusk Photography
Related Group & Dezer Development Sells Newly Completed HYDE Midtown Hotel For $21.8 Million
Related Group and Dezer Development has completed the sale the hotel portion of the newly completed Hyde Midtown Suites & Residences luxury condo-hotel project in Midtown for $21.8 million. The buyer was Midtown Hotel Investment LLC, which is led by Haim Yehezkel of Elysee Investments
Related Group and Dezer Development has completed the sale the hotel portion of the newly completed Hyde Midtown Suites & Residences luxury condo-hotel project in Midtown for $21.8 million. The buyer was Midtown Hotel Investment LLC, which is led by Haim Yehezkel of Elysee Investments and the agreement was first announced while the project was still under construction. The deal was financed via a $14.5 million mortgage provided by Bank of America and breaks down to roughly $363,000 per key. The deal was brokered by Hernan Gleizer of Optimar First International Realty. The 60-key hotel will be managed by sbe and is located at 4101 Northeast First Avenue in Midtown Miami. HYDE Midtown will be the first hotel to open in Midtown.
In total the HYDE Midtown Suites & Residences project features 410 luxury residential condos and 60 hotel suites. The 32-story, 480,000 SF building was designed by Arquitectonica with interior design by the Rockwell Group. Amenities were designed to be tailored towards millennials which include a HYDE Music Lounge & Piano Bar, restaurant, pool terrace with jacuzzi, putting green and tennis court, state-of-the-art fitness center and private screening theater. Hyde Midtown Suites & Residences initially broke ground in September 2015.
Ytech has unveiled 75 Broadway in Brickell: a 52-story collection of 106 homes from $3 million, designed by KPF with ACPV interiors and Enea landscapes. Completion is anticipated in late 2029.