Kushner and PTM Partners Launch Leasing at 2000 Biscayne In Edgewater

A new luxury rental building, 2000 Biscayne, has started leasing in Miami's Edgewater neighborhood. Developed by Kushner and PTM Partners, the 36-story tower offers 420 high-end studio and one-, two-, and three-bedroom apartments ranging from 500 to 1,500 square feet. Designed by Kobi Karp Architecture and furnished by RH, the building features modern finishes, floor-to-ceiling windows, Italian kitchen cabinetry, and high-end amenities. SERHANT. New Development has been appointed as the exclusive marketing and leasing agency for the project.

2000 Biscayne aims to offer a refined living experience in an area with high rental demand. Amenities at 2000 Biscayne include a fitness center, spa, gaming room, children's play area, pet spa, pool, outdoor gym, and concierge services. The building is conveniently located on Biscayne Boulevard, close to major roadways and transit options.

“2000 Biscayne brings an unparalleled level of luxury, health, wellness, and entertainment to the market that redefines rental living in this thriving area of Edgewater,” said Laurent Morali, CEO of Kushner. “SERHANT. New Development’s dedicated division for the leasing, sales, and marketing of new development projects was an obvious choice for us and PTM as we planned to bring this project to market.”

“This project is emblematic of the Edgewater neighborhood’s immense potential amid sustained rental demand in the market,” said Michael Tillman, Chief Executive Officer and Chief Investment Officer, PTM Partners. “We are proud to deliver a refined experience to meet the demands of Miami’s discerning renters, and look forward to working with SERHANT. New Development to let the world know about the unmatched lifestyle residents can experience here.”

Kushner Cos. And Aimco Acquire Fort Lauderdale Development Site For $49 Million, To Build City's Tallest Tower

A partnership between Kushner Cos. and Aimco (NYSE: AIV) has acquired a development assemblage in Fort Lauderdale for $49 million and plan to develop Fort Lauderdale’s tallest tower. The development partnership acquired a 1.87-acre site at 520 W Broward Blvd. for $35.5 million from Swire Properties as well as a 2.31-acre site at 300 W Broward Blvd. for $13.5 million. The acquisition was financed with a $40 million mortgage provided by MSD Partners.

The towers would rise 48-stories, 546’. The tallest building in Fort Lauderdale is currently the 46-story 100 Las Olas. The project would feature 956 rental apartments, 23,752 SF of commercial space and 1,031 parking spaces. The tower was designed by ODA Architecture and features two towers joined by a 10-story base which will house the amenities including a fitness center, library and resident’s lounge. Atop the landscaped podium will be sunrise and sunset pools, cabanas and a yoga deck. Plans for the project were submitted to the City of Fort Lauderdale for approval in late 2021.

Renderings via ODA Architecture

PTM Partners & Kushner Companies Announce Partnership On 2000 Biscayne Boulevard In Edgewater

PTM Partners (PTM), one of the leading Opportunity Zone-focused development firms in the country, and Kushner Companies (Kushner), a diversified privately held real estate organization involved in the ownership, management, development and redevelopment of numerous commercial and residential properties throughout the United States, today announced their joint venture partnership at 2000 Biscayne Boulevard in Miami’s Edgewater neighborhood, located bayfront between Downtown Miami and the highly sought after Design District.

“With Kushner Companies’ recent expansion into South Florida, we are thrilled to be working with PTM Partners to bring 2000 Biscayne Boulevard to Miami,” said Laurent Morali, Chief Executive Officer of Kushner.

“Alongside this established team, this project has the potential to set a new standard of living for the residential market in Miami,” said Nicole Kushner Meyer, President of Kushner.

“We could not be more excited to enter into this partnership with Kushner Companies,” said Nicholas Pantuliano, Chief Development Officer and Chief Operating Officer of PTM. “With our combined expertise and experience, we are confident we will deliver a truly differentiated project to the vibrant community of Edgewater that enhances the fabric of the neighborhood and pedestrian activity, unlike any project there.”

The project will be comprised of a 36-story tower with 420 units along Biscayne Boulevard, creating a unique urban campus that fosters a sustainable and resilient oasis within the bustling submarket of Edgewater, Miami. With a focus on health and wellness and a nod towards environmental and natural design, groundbreaking at 2000 Biscayne Boulevard is scheduled to occur in Q4 2021.

“With a product like this, we believe we can deliver a project that elevates the local rental market while delivering both financial and social returns to our partners, residents and the surrounding community,” said Michael Tillman, Chief Executive Officer and Chief Investment Officer of PTM.”

2000 Biscayne Boulevard will have water views and state-of-the-art amenities, including a landscaped pool deck with BBQ grills and a Zen Garden, a fitness center with a yoga room, outdoor boxing and CrossFit, a dry sauna, a spa treatment and steam room, a recording studio, a children’s playroom, a pet wash, a game room, coworking spaces, a library and more. The launch of leasing for this tower is expected to begin in Q1 2023.

Kushner Companies Gearing Up To Break Ground On First Miami Projects

Kushner Companies is gearing up to break ground on their first two Miami projects located in Wynwood and Edgewater. The Wynwood project, known as Wynwood 27, will break ground first in Q1 2021 at 127 NW 27th St. and 129 NW 26th St. Wynwood 27 will feature 152-units, 50,000 SF of office space and 34,000 SF of retail space. The project will be followed by Wynwood 28 which will feature 40 residential units, 44,637 SF of office space and 15,800 SF of retail space. Kushner Companies acquired the sites for $32 million in July 2019 in partnership with Block Capital. In March 2020 Kushner Companies obtained $17.55 million in financing for the properties provided by CIT Bank.

The Wynwood project will be followed by the first tower at 1900 Biscayne, a 36-story multifamily building which will feature 393 apartment units. Kushner Companies plans to build 1,100 units over three towers in three phases on the site which includes the adjacent 2000 Biscayne with an estimated total development cost of $550 million. Kushner Companies acquired the site, which is located in an opportunity zone, in March 2019 from Enrique Manhard. It was previously owned by Verzasca Group who had planned a 36-story condo for the site, later changing to a rental concept before selling to Manhard for $13.1 million in 2018.

Kushner Companies To Move Ahead With 2000 Biscayne After Filing For Construction Permit

Kushner Companies has applied for a construction permit as they gear up to move ahead with the development of their 2000 Biscayne site in Edgewater, the first site they plan to develop as part of their $550 million, 3-phase project. The proposed project for 2000 Biscayne, which was originally designed by Dorsky + Yue, is expected to cost $123.6 million with a total development area of 706,148 SF. 2000 Biscayne will rise 36-stories, 418’, and will feature 393 residential units, 5,500 SF of ground floor retail and 455 parking spaces. Kushner Companies is targeting a Q3 groundbreaking for phase 1 and the 3-phase project will ultimately bring 1,100 residential units to Edgewater.