YTECH's Kohn Pedersen Fox-Designed 'Seven Broadway' Approved in Brickell

Ytech’s 'Seven Broadway,' a luxurious residential tower set to rise in Miami's vibrant Brickell neighborhood, has just received unanimous approval from the City’s Urban Development Review Board (UDRB). Greenberg Traurig’s Carlos Lago represented the developer throughout the application process. Designed by the renowned architecture firm Kohn Pedersen Fox (KPF), Seven Broadway is set to rise 54 stories, 682’, and will feature 113 residential units and 193 parking spaces. Amenities are set to include a rooftop pool.

"We’re proud to have represented YTECH in securing unanimous approval from the City of Miami’s Urban Development Review Board for Seven Broadway,” said Carlos Lago, attorney in Greenberg Traurig’s Miami Land Use & Land Development Practice. “This project reflects the highest caliber of urban design and planning, thanks to the vision of Kohn Pedersen Fox and YTECH’s continued commitment to excellence. From the strategic assemblage to predevelopment milestones and now design approval, this marks an exciting step forward in bringing a landmark residential tower to the heart of Brickell."

Seven Broadway will be located at 75 and 41 Southwest 15th Road, just minutes away from Brickell Avenue. Ytech acquired the .3-acre site, which is currently undergoing demolition, for approximately $8.2 million and also locked down $19.5 million in pre-development financing from Israel Discount Bank .

Seven Broadway marks a significant step in Brickell's ongoing transformation into one of the United State’s densest urban residential hubs. Ytech's CEO, Yamal Yidios, expressed the firm's commitment to architectural integrity and quality, highlighting that Seven Broadway is the culmination of years of meticulous planning and design refinement. Seven Broadway is nearby The Residences at 1428 Brickell, a 70-story solar-powered tower being developed by Ytech which is currently under construction.

Images via YTECH

For more information about Seven Broadway or to inquire about purchasing a unit please fill out the form below:

EDEN Multifamily and The Dermot Company Reveal Plans For Downtown Miami Kobi Karp-Designed High-Rise Residential Project In District 11

Prolific Miami-based real estate development firm EDEN Multifamily has partnered with multifamily developer and investor The Dermot Company to bring a Class-A, luxury rental residential tower to downtown Miami’s Park West District 11. EDEN and Dermot plan to develop a 44-story, 430-unit high-rise designed by the award-winning architect Kobi Karp in one of the hottest residential and entertainment neighborhoods in the world. This development represents the first partnership between Miami-based EDEN and New York-based Dermot. Construction is expected to begin in 2024.

The project site is located at 1018 N. Miami Ave., immediately west of E11EVEN Hotel and Residences and just northwest of the Miami Worldcenter mixed-use $4 billion mega project. Plans call for 8,000 square feet of retail space on the tower’s ground floor. The building will also feature more than 25,000 square feet of indoor and outdoor amenity space, including a luxurious pool, fitness center, health-and-wellness areas, club rooms, coworking spaces and much more. The project will be designed, constructed, and operated to the latest ESG investment principles and standards for commercial real estate for resiliency and environmental certification.

The location, amid the preeminent Miami Park West district, allows for convenient access to the Brightline Train Station, which runs from Miami to West Palm Beach and soon to Orlando. Park West is adjacent to the Miami World Center district, which encompasses an area of approximately 24 acres of high-end residential and commercial development. While condominiums have constituted much of the housing inventory in the area to date, rental options have been limited.

“We are thrilled to team up with a best-in-class national partner like Dermot and help address the intense demand for luxury rentals in Miami’s urban core,” said EDEN Co-Founder Jay Jacobson who leads EDEN multifamily with Jay Massirman. “With this project, we aim to set the gold standard for multifamily high-rise quality and design in the downtown area.”

“We are proud to partner with EDEN on this residence that will transform the downtown Miami skyline,” said Dermot CEO Stephen Benjamin. “As we continue to build our portfolio in South Florida, aligning ourselves with such a respected and like-minded developer in the local market was a natural next step for us, and co-founders Jay Jacobson and Jay Massirman have one of the most impeccable records in the business.”

Greenberg Traurig is representing the joint venture in the land-use process. Jordan Karp LLC brokered the pending acquisition of the project site. The project is scheduled to be presented to the City of Miami’s Urban Development Review Board during its April 19 meeting.

Renderings via Kobi Karp Architecture & Interior Design and EDEN Multifamily

The Estate Companies Obtains Site Plan Approval For Soleste on the Bay Luxury Waterfront Rental Development

The Estate Companies (EIG) has obtained unanimous site plan approval for Soleste on the Bay, a 759,439 square-foot, 28-story luxury waterfront rental community with 363 units, 17,000 square feet of commercial space and 645 parking spaces at 16375 Biscayne Blvd. in North Miami Beach. The city commission voted unanimously in favor of the project on Aug. 16th. Groundbreaking is slated for Q4 2022. The Estate Companies was represented by Land Use Counsel, Ethan Wasserman, of Greenberg Traurig, LLP.

This is The Estate Companies’ second major investment in North Miami Beach. Located directly next door to Soleste on the Bay, construction is underway on Soleste NoMi Beach, a 23-story rental community with 367 units and 2,708 square feet of ground floor commercial space. The project broke ground in October 2021.

Tenants can select from a variety of studios, one-, two- and three-bedroom units ranging in size from approximately 550-1,250 square feet.

Like all projects within the Soleste Living brand portfolio, Soleste on the Bay will be a highly amenitized development with a vast collection of health and wellness offerings and social components, including a 10th floor amenity deck with two resort-style pools, spacious sundeck, game room, yoga room, spinning room, lounge, state-of-the-art fitness center and cinema.

The 2.15-acre waterfront property is located on the south side of the Royal Glades Canal with water views to the north and east. The site offers easy access to the 163rd Street Causeway, which connects to US-1 and A1A and all major arteries. The project is also in close proximity to Greynolds Park and within minutes to the beach and two of Florida’s premier shopping destinations, the Aventura Mall and legendary Bal Harbour Shops.

The Estate Companies is one of Florida’s largest and most active multifamily development firms with more than 4,000 rental units and 153,000 square feet of commercial space in the pipeline throughout the tri-county region. The firm recently completed and sold Miami’s first large-scale, ground-up opportunity zone development, Soleste Grand Central in Downtown Miami. Development is also nearing completion on Alture Westland, a hotel conversion in Hialeah, and Soleste Spring Gardens in Miami’s historic health district. The Estate Companies recently completed and sold Miami’s first large-scale opportunity zone development, Soleste Grand Central in Downtown Miami. In addition to two projects in North Miami Beach, the firm has projects in various stages of development in Dania Beach, Spring Gardens, Hollywood, Riviera Beach, Lauderhill, Pompano Beach and West Palm Beach, among others.

DePuy Synthes Product, Inc. Leases Palm Beach Gardens Office Space Expanding South Florida Footprint

DePuy Synthes Product, Inc., a Johnson & Johnson company, and a leading global provider of Orthopedics products, is expanding its presence in South Florida after signing a a 9,481 square foot lease at 4400 Northcorp Parkway in Palm Beach Gardens, Florida. DePuy Synthes Product, Inc. will occupy the build-to-suit space on the 2nd floor of the office building. DePuy Synthes Product, Inc. is slated to take occupancy in September 2021. 4400 Northcorp Parkway is owned by Alchemy-ABR Investment Partners, a fully integrated New York based real estate investment firm, together with its joint venture partner, Breakers Capital Partners, a Miami based real estate investment firm.

Alchemy-ABR Investment Partners was represented by Gavin Loughlin of Greenberg Traurig and Anthony Librizzi of Cushman & Wakefield in the transaction. DePuy Synthes Product, Inc. was represented by CBRE.

“4400 Northcorp Parkway is an ideal office setting for the most competitive industries and organizations and this lease is indicative of the strength of South Florida’s overall office leasing market,” said Brian Ray, Co-Founder and Managing Partner of Alchemy-ABR Investment Partners. “We’re committed to our tenants and are looking forward to welcoming DePuy Synthes Product, Inc. to 4400 Northcorp Parkway.”

4400 Northcorp Parkway is part of the larger office park, 4200-4400 Northcorp Parkway, that consists of two Class-A office buildings totaling 115,000 square feet. Completed in 1996, 4200-4400 Northcorp Parkway features extensive capital improvements including renovated, premium office fit-outs, contemporary base building lobby and common areas, as well as modern mechanical and roofing systems.

Located in the center of Palm Beach Gardens, the property enjoys convenient access to Palm Beach, Broward and Miami-Dade Counties and has attracted a diverse tenant base, further showcasing South Florida’s dynamic market. Alchemy-ABR Investment Partners and Breakers Capital purchased 4200-4400 Northcorp Parkway in 2016 and is currently renovating the lobby space of the 4200 Northcorp office building. The two firms jointly own additional commercial real estate assets across South Florida including 6111 Broken Sound Parkway in Boca Raton, Florida.

Elevate Partners Locks Down $92 Million In Financing For The Newly Completed Four West Las Olas Apartment Tower

Elevate Partners, led by Scott Bodenweber and Tom Vogel, have locked down $92 million in 3-year bridge financing with optional extension for Four West Las Olas. The loan was provided by the New York-based Benefit Street Partners Realty Trust, who provided $76 million of senior debt, and the West Palm Beach-based Electra Capital who provided $16 million in mezzanine financing. Four West Las Olas was roughly 60% leased at the time of refinancing. The loan was brokered by Denny St. Romain of Cushman & Wakefield with Dan McCawley of Greenberg Traurig representing the developer. The new loan replaces an $80 million construction loan provided by Trez Forman Capital in 2018.

Four West Las Olas was completed in Q1 2020 and rises 25-stories. The tower offers 260-units which range from 588 square feet studio layouts to 1,376 square feet 3 bedroom residences. Pricing ranges from $1,724 /mo. to over $7,000 /mo. Four West Las Olas also features 12,000 square feet of retail and 407 parking spaces. Amenities include a rooftop pool, sky club room, fitness center, speakeasy style piano lounge, demonstration kitchen, residents’ lounge, coffee bar and business center.