Power Dinner Council: Design And Development Presented by PROFILEmiami and Kobi Karp

On Wednesday, June 23rd, PROFILEmiami hosted Power Dinner Council: Design and Development, an intimate, invite-only omakase dinner bringing together some of South Florida’s leading real estate developers, architects, builders, investors and designers. The evening was hosted by PROFILEmiami Co-Founders Katya Demina and Demetri Demascus and Kobi Karp Architecture & Interior Design Principals Kobi and Nancy Karp.

The evening was attended by an exclusive group of top real estate industry leaders and executives including Kobi Karp, Louis Birdman, Dan Kodsi, Taylor Collins, Allen Morris, Scott Sherman, Avra Jain, Kevin Venger and Ronny Finvarb, amongst others. Guests had the opportunity to network and share their experiences developing and building in South Florida through thoughtful discourse, while forging new relationships with senior executives.

Guests enjoyed an omakase dinner curated by Chef Amir Anvari of Omakase Direct in a unique, architecture studio transformed private restaurant setting. Guests left with signed Assouline Kobi Karp books, kobi Karp backpacks and gear.

PROFILE's Power Dinner Council is where compelling minds connect to leverage their influence and grow their businesses through shared thought leadership and authentic conversation - the impact of which extends far beyond the evening. Our goal is to provide leaders with related business interests to meet and interact in an intimate, high-end, and unique setting.

The event was also covered by World Red Eye.

Imagery via World Red Eye

Broward Plaza Retail Center In Davie Sells For $12.8 Million

Broward Plaza, a 74,300 SF retail center in Davie, FL, which includes a Miami Grill outparcel, has sold for $12.8 million. El-Ad Broward Plaza LLC, an entity of El-Ad National Properties, acquired the 8.18-acre site from Saber Griffin Two, LLC. The transaction was overseen by Adam Tiktin of Tiktin Real Estate Investment Services (TREIS), who represented both the buyer and the seller. The closing took place June 25th and was financed with a $9 million loan provided by Ladder Capital.

Broward Plaza is located at 4803-4963 S. State Rd. 7 in Davie. The retail center is anchored by BrandsMartUSA, Dollar General, and Big Chef. The property had a total of 17 tenants and was 96% occupied at the time of sale. The buildings were constructed in 1975. The Miami Grill was renovated in 2017.

Broward Plaza is located on the southwest corner of South State Road 7 and Griffin Road. The property has excellent visibility with traffic counts in excess of 55,000 vehicles per day along South State Road 7 and over 30,000 vehicles per day along Griffin Road.

Master Brokers Forum PROFILE: Iliana Abella of The Abella Group at Compass

PROFILEmiami caught up with Iliana Abella, Executive Director of Sales at The Abella Group at Compass, to see how she has built up her career specializing in luxury residential real estate across Miami. Over her 30-year career, Iliana has worked on renowned projects and with celebrity clients including professional athletes, diplomats, and foreign nationals. Iliana is the chair of the Miami Master Brokers Forum and was nominated to the group’s Board of Directors in 2005. Iliana was also a Compass Florida Top Producer for 2018, 2019, and 2020.

PROFILEmiami: What drew you to start your career in real estate?

Iliana Abella: I have always been a “people person” and passionate about what I do, so working in real estate has always come very naturally to me. By allowing me to showcase my talents, while also giving me the flexibility to start and raise my family, it has been a perfect career choice.

PM: What was your first significant closing that cemented real estate as a long-term path for you?

IA: It was actually my first closing ever, back in 1990 - a $1.5 million commercial property on Coral Way that I was somehow able to sell just before the property was set to revert to foreclosure - and only days before I gave birth to my second child!

PM: When did you become a member of the MBF and how did it change your stature as a real estate pro and ultimately your deal flow?

IA: I became a Master Broker in 2000, and it changed everything for me. I felt this extraordinary wave of validation of my skills and experience, but more importantly of my character, standing, and reputation among my peers. My MBF membership has opened the door to cutting-edge learning opportunities and amazing networking prospects that have directly led to some of the best sales of my career.

PM: What advice would you give brokers/agents that are in the beginning of their careers that will set them apart from their competitors?

IA: Always keep your word, answer your phone, and most of all, respect your colleagues in the profession. I realize this sounds basic, but if you are serious about getting ahead, it’s important to maintain this discipline every day of your life.

PM: Fun question...what is your current favorite restaurant to visit and spend time at in the neighborhoods you represent to your clients and why?

IA: Caffe Vialetto in Coral Gables. The owners are always there, the service is exceptional, and the food is always delicious.

Largest Development Site Available In Downtown Miami Sells For $46 Million

The largest development site available in Downtown Miami has sold for $46 million. Known as Miami Center or the ‘Burdines property,’ it is the last significant development site remaining in downtown Miami’s Central Business District (CBD). The 92,972 SF development site, which is located at 16 SE 2nd St in downtown Miami, is currently home to a parking lot.

Mika Mattingly, Colliers' Executive Managing Director, and Robert Given, Vice Chairman of Cushman & Wakefield in South Florida, represented Wharton Equity Partners and Cross Lake Partners, the seller. Estrella Perez, with EP Realty Group Inc., represented Enrique Manhard, the buyer.

“This is a pivotal site for the future of downtown Miami because it is a major location connecting downtown to Brickell,” Mattingly said. “This deal represents the voracious appetite for downtown assets. We currently have 10 land deals under contract to close by year’s end, and there is little inventory left for the first time ever. This is unbelievable given the fact the downtown market went silent in 2019 and during the pandemic. The demand is being fueled, in part, by all the transformative projects that are just beginning to take shape in this area. It could not be a better time to invest in the future of downtown Miami.”

Based on the site’s T6-80 zoning, this is one of the largest land sales in downtown Miami. The zoning designation allows several uses, including residential, hotel, office and retail. The maximum height permitted at the site is 80 stories with unlimited height available through public benefit bonuses. Because the development site is right in the middle of Brickell and downtown, it will provide future residents the opportunity to live, work and play in a highly walkable, urban environment.

South Florida has continued to see an influx of residents from New York, California and other states seeking lower taxes, better weather, and a higher quality of life. Greater Downtown’s population was 92,235 people in 2018, a jump of 38% since 2010, according to a study from Miami’s Downtown Development Authority (DDA). Downtown and Brickell have also emerged as the top choice for the largest technology and financial firms. According to a recent report from the DDA, at least 700 new jobs are expected in the area over the next few years.

Swerdlow Group Breaks Ground On Sawyer's Walk Mixed-Use Development In Miami's Overtown Neighborhood

Construction has begun on the largest mixed-use development to take shape in Miami’s historic Overtown neighborhood in decades, paving the way for new shopping and dining options, affordable residences for seniors, and thousands of job opportunities. Sawyer’s Walk, a 1.4 million-square-foot development led by Swerdlow Group in collaboration with the Southeast Overtown/Park West Community Redevelopment Agency (CRA), will include 250,000 SF of destination retail alongside 578 apartments designated for low-income seniors.

Swerdlow Group and its partners, SJM Partners and Alben Duffie, acquired the 3.4-acre property at 249 NW 6th Street from the CRA and broke ground on the development at a June 23rd ceremony. Construction is expected to be completed in 2023.

“In working with the CRA and listening to nearby residents, it became clear that senior housing, affordable shopping options, and quality jobs are among the most pressing needs in Overtown,” said Swerdlow Group CEO Michael Swerdlow. “Sawyer’s Walk will check all of these boxes, while also creating a new destination for retail and dining that will activate city streets and attract people from throughout Downtown Miami and surrounding neighborhoods.”

The development of Sawyer’s Walk coincides with a rush of new residents, businesses and visitors into Miami’s urban core. Greater Downtown Miami is now home to 115,000 residents, 250,000 daytime visitors, and six million annual visitors, according to the Miami Downtown Development Authority.

Retail offerings at Sawyer’s Walk will include a 50,000 SF Target, a 25,000 SF Aldi supermarket, and new locations for Ross Dress for Less, Five Below, and Burlington. Additionally, 25,000 SF of public space at street level will feature restaurant space, outdoor seating, a children’s playground, a pedestrian promenade, a dog park, and a City of Miami NET office.

The upper floors of Sawyer’s Walk will offer 578 apartments set aside for low-income seniors earning at or below 60% of the Area Median Income. The unit mix will include studios, one-bedrooms, and two-bedrooms. Amenities will include a rooftop pool deck, a clubhouse and entertainment lounge, meeting rooms, and a complimentary health club membership for all residents.

“Sawyer’s Walk will be a triple-win for the Overtown community and the City of Miami, delivering a positive impact in the form of new jobs, additional revenue, and an affordable place to call home for hundreds of our local seniors. These benefits will help sustain quality of life in Miami while advancing the mission of the Southeast Overtown/Park West CRA,” said Jeffrey Watson, Chairman of the Southeast Overtown/Park West CRA.

Sawyer’s Walk is located alongside I-95, adjacent to Downtown Miami’s Central Business District and blocks from Brightline’s Miami Central station, the 27-acre Miami Worldcenter development, the Historic Lyric Theatre, Government Center, and Miami-Dade College’s Wolfson Campus. The site is bounded by NW 3rd Avenue on the west, NW 7th Street to the north, NW 2nd Avenue on the east, and NW 6th Street to the south.

Aston Martin Residences Miami Reveals Signature Collection of Penthouses And Residences

Aston Martin Residences Miami, located on the exclusive Miami River waterfront, has revealed its Signature Collection penthouses and residences. The Signature Collection is the next level of luxury at the Aston Martin Residences Miami, offering buyers a members-only community with unparalleled access and exclusivity. Signature Collection owners will enjoy an array of privileges, including a dedicated butler service and priority access to the Aston Martin Residences private superyacht marina. The Art Gallery, located on the 52nd floor, will create a secluded space for residents to appreciate an ever-changing canvas of contemporary art.

“I’m delighted to announce the Signature Collection and share the very first images of the penthouses. They’re the pinnacle of luxury and elegance, style and beauty, and the result of an inspirational collaboration between our architects and the Aston Martin Design Team. The Signature Collection is complemented by a specially-commissioned bespoke Aston Martin DB11 Coupe or DBX Riverwalk Editions, which will enhance the Aston Martin lifestyle for our owners,” said Germán Coto, CEO of G&G Business Developments.

Located at 300 Biscayne Boulevard Way and now over 70% sold, the Aston Martin Residences Miami is well on its way to completion at the end of 2022. The luxury residential tower blends contemporary architecture with art, and art blends seamlessly with design throughout the magnificent sail-shaped luxury development. The elegant homes are harmonious inside, while floor to ceiling windows afford uninterrupted views of the ocean and Biscayne Bay.

“From the start, this project has been a labour of love, and I’m extremely proud of the passion and drive of everyone involved. We adapted to continue working safely throughout the pandemic and have reached floor 56 of 66 on schedule. The whole team is fully focussed on completing the construction of our waterside jewel by the end of next year,” Coto explained.

“The Signature Collection is the next level of luxury; the best of elegant living. When we designed the interior, we focused on the beauty of perfect proportions, affording the same attention to detail that goes into every Aston Martin. Fine craftsmanship, with an emphasis on comfort for the living spaces and bold, pioneering design for the amenity areas, has created an astonishingly beautiful development,” said Marek Reichman, Aston Martin Chief Creative Officer.

Aston Martin Residences is a luxury residential development on the waterfront in downtown Miami being developed by G&G Business Developments at 300 Biscayne Boulevard Way in Downtown Miami. Coastal Construction is the general contractor on the project, which broke ground in October 2017. The one-of-a-kind Aston Martin-branded tower offers 391 residences which come in a variety of floor plans consisting of one to five bedrooms and penthouses ranging from 8,977-10,463 SF and priced from the $970,000s to upwards of $50 million.

“Aston Martin Residences Miami is our first global real estate venture,” Reichman continued. “I think we have shown that good design is good design, whatever the medium. This is something that really excites us as a brand.”

The iconic tower is the first for Aston Martin and will feature 42,275 SF of sky amenities across four floors, including a double-level fitness centre overlooking the ocean, infinity pool, spinning studio, boxing gym, virtual golf room, art gallery, two cinemas, as well as a full-service spa, beauty salon and barber shop.

Aston Martin Residences is scheduled for completion in 2022.

For more information about Aston Martin Residences, private showings or purchasing/ leasing information please fill out the form below:

DEVELOPING: Champlain Towers South Condo Collapses In Surfside, 159 People Reported Missing

DEVELOPING (Updated June 25, 11:43 A.M.): Around 1:30 AM on June 24, 2021 the 12-story Champlain Towers South Condo, located at 8777 Collins Ave. in Surfside, FL collapsed, leaving 4 dead and 159 reported missing as of 11 A.M. on June 25, 2021. At least 35 people have been rescued from being trapped in the building and rescue operations are underway.

Rescue teams of 10-12 rescuers are attempting to tunnel under the remaining structure into the rubble to locate additional survivors with the help of search dogs. Teams are using sonar as the carefully tunnel into the rubble with saws and infrared cameras. The work is a brave, desperate search for life, putting the rescue teams in peril of potential shifting rubble or the remaining structure to collapse.

Of the 136-units in the building, 55 were destroyed in the collapse. Authorities still have no idea how many people were in the building at the time of collapse and fear that the death toll could continue to rise.

Over 80 rescue units reportedly responded to the disaster. Miami-Dade Mayor Daniella Levine Cava, Surfside Mayor Charles Burkett and Governor Ron DeSantis were on-site Thursday. American Red Cross volunteers are assisting people who have lost their homes or been displaced by the disaster.

Authorities have not identified what may have caused the collapse and an investigation may take several weeks to months.

Champlain Towers South was developed in 1981 by Nathan Reiber and is part of a condominium complex with two additional separate buildings on adjacent lots. Champlain Towers South featured 136-units ranging from one-to-four bedroom floorpans which range in size from 1,200 SF to 4,500 SF. The building was undergoing its 40-year recertification, which is a one year process to complete, and was also undergoing restoration and roof work at the time of the collapse.

Terra Locks Down $44 Million In Financing For Publix-Anchored Retail Development In Pembroke Pines

Coconut Grove, FL-based Terra has locked down a $43.74 million in senior mortgage financing for 16000 Pines Market. The loan was provided by Thorofare Capital, Inc., an affiliate of alternative investment manager Thorofare LLC., and was issued to 16000 Pines Retail Investments, LLC, an entity managed by 16000 Pines Market. 16000 Pines Market is a 135,000 SF mixed-use retail development nearing completion in the City of Pembroke Pines in South Florida’s Broward County. The financing was arranged by Walker & Dunlop’s Keith Kurland, Jackson Sastri and Ian Hawk of the firm’s New York City capital markets group.

Terra will utilize the loan proceeds to finish construction, capitalize the TIs/LCs and carry the project until its stabilization. Construction of 16000 Pines Market’s first phase was completed earlier this year, with construction of phase two now getting underway and expected to deliver in 2022.

“Terra’s continued investment in Pembroke Pines reflects the City’s growing residential population and the high barriers to entry that exist for new commercial development,” said Terra CEO David Martin. “16000 Pines Market will meet mounting demand for lifestyle-oriented retail and unique food and beverage experiences, while offering an everyday amenity for neighboring residents and visitors.”

The key anchor tenant at 16000 Pines Market is 91-year-old Publix Super Markets, Inc., the largest and fastest-growing employee-owned supermarket chain in the United States. Additional co-anchors include national off-price department store retailer Burlington (NYSE: BURL), which operates 740 stores across 40 states and Puerto Rico with over 40,000 employees and a $20 billion market capitalization, as well as Crunch Fitness, a fitness club chain that has more than 300 franchise locations across the United States, Canada and Australia.

Felix Gutnikov, Thorofare’s principal and head of originations, said, “closing this construction-completion loan for a Publix-anchored retail asset in a desirable South Florida suburb comes on the heels of our Miami office opening and underscores the firm’s commitment to expand our geographic footprint in the Southeast.”

“This high-structured financing reflects our belief that well-designed grocery-anchored shopping centers, with sought-after tenants such as Publix, will continue to garner demand from institutional debt and equity capital sources,” said Thorofare’s principal and CIO Brendan Miller. “Executing a transaction with Terra will help continue to expand our presence in the Southeast as well as diversifying our loan portfolio with grocery-anchored assets, the most resilient, necessity-based retail property type.”

16000 Pines Market is situated on 13.2-acres with strong visibility along Pines Boulevard and Dykes Road, a major thoroughfare in the affluent suburb Pembroke Pines, which is part of the Ft. Lauderdale retail market and Southwest Broward retail sub-market. Additional tenants include Verizon, Regions Bank, a United States Postal Service branch, Jersey Mike’s Subs, Vivo Pizza & Pasta, FirstWatch Café, Cheddar’s and MD Now.

PROFILE Exclusive Podcast Season 1 Episode 4 Featuring Oren Alexander of The Alexander Team

Season 1 Episode 4 of the PROFILE Exclusive Podcast by PROFILEmiami features Oren Alexander of The Alexander Team. Oren is the co-founder of The Alexander Team, an internationally recognized, record-breaking luxury real estate sales team with over $5 billion in total sales and $1.5 billion in sales to date in 2021. Oren runs The Alexander Team with his brother Tal, operating in Miami, New York, Hamptons and Aspen. Oren has broken the records for highest sale price for single-family home and condo in Miami, and facilitated the #1 sale in Miami for 2019. Oren also has a proven track record of representing world-renowned developers for their pre-construction condo sales including Alan Faena and Len Blavatnik with Faena House, and David Martin’s Terra Group at Eighty Seven Park. Oren is also co-founder of The Alexander Group, one of Miami’s leading ultra-luxury spec home developers, having developed homes with his father Shlomy Alexander in Miami’s Indian Creek and Bal Harbour neighborhoods including the record breaking 3 Indian Creek and 252 Bal Bay Drive.

The PROFILE Exclusive Podcast by PROFILEmiami, the leader in South Florida residential and commercial real estate news and content, profiles and gets intimate with the movers and shakers in the South Florida real estate industry. Throughout the series we will interview and get inside the minds of South Florida's top developers, investors, brokers, architects, designers, etc. The PROFILE Exclusive Podcast is hosted by Demetri Demascus Co-Founder of PROFILEmiami and Director of Business Development at private equity group Galium Capital as well as Katya Demina, Co-Founder of PROFILEmiami and Development Associate at development firm Royal Palm Companies.

The Former Site of Bal Harbour Yacht Club Sells For Record $54.931 Million As Luxury Home Site

The former site of the Bal Harbour Yacht Club has sold for a county record of $54.931 million after hitting the market in March for $65 million. The transaction was overseen by Tony Imbesi of Douglas Elliman who represented the seller, and Dina Goldentayer of Douglas Elliman who represented the buyer. The 80,040 SF lot was recently converted into a residential home site by real estate investor Joseph Imbesi, who purchased the Bal Harbour Club in the 1990’s. Adam Neuman purchased another property from Imbesi on Bal Harbour Marina just last week for $44 million.

Located at 200 Bal Bay Drive, the 80,040 SF lot is where the Bal Harbour Yacht Club building, designed by Alfred Browning Parker, once stood. The property is a peninsula with 915’ of waterfront spanning three sides and also features 200’ of road frontage. It comes with 7 boat slips on the inside of the protected waterway where the buyer will have the riparian rights to build new docks or helipad. Land under water on inside of marina is privately owned so you have the ability to do something creative that extends far off of the seawall.

Imbesi purchased the shares of the Bal Harbour Club in the 1990s for $19,000,000. The Bal Harbour Club owned 5.5 acres on the beach, where Oceana Bal Harbour is now located and 10 acres on the bay, where the marina sits. The properties were owned by the proprietary members of the club and they wanted to sell so Imbesi bought all of the individual shares to gain control of the company and the assets that it owned.

For more information about homes in Bal Harbour, private showings or purchasing/ leasing information please fill out the form below: