ROVR Development Launches Pre-Leasing At Grand Station Apartments In Downtown Miami

ROVR Development has launched pre-leasing for Grand Station Apartments, a 30-story apartment tower with 300 residences in Downtown Miami. The first tenants are expected to begin to move-in this summer. The $70 million development is a transformative public-private partnership with the Miami Parking Authority (MPA), bringing a combination of residential floorplans to MPA’s headquarters at 40 NW 3 Street and expanding the existing garage at Courthouse Center with 350 parking spaces.

ROVR Development, led by Principals Oscar Rodriguez and Ricardo Vadia, are developing the project, and Monument Real Estate Services (MRES), an A-Rod Corp Company, will be the property manager.

“Downtown Miami was in immediate need of luxury housing that brought residents close to the city’s renowned amenities and transportation options that take them anywhere in South Florida,” said Rodriguez. “Working alongside the Miami Parking Authority, we were able to creatively use their existing space and enhance their own facilities, demonstrating the positive results that ultimately benefit residents when a public-private initiative such as this one takes place.”

Residences come in studios, one- and two-bedroom layouts and will feature high-end finishes such as custom Italian cabinets, stainless steel appliances, quartz countertops, walk-in closets and a full-size washer and dryer. Net effective rents for residences start at $1,277, $1,427 and $1,963, respectively.

Amenities will include an expansive New York-inspired rooftop terrace, an outdoor kitchen with grilling area and an oversized swimming pool with sun deck and several hot tubs, offering residents views overlooking Downtown Miami. Grand Station Apartments will also feature an upscale amenities deck with a variety of Class A finishes will feature a full-size state-of-the-art fitness center, wellness treatment and spa rooms with an indoor heated soaking pool, a computer and business center, and a clubroom, as well as an indoor/outdoor spa to unwind. The community will also include a concierge service, dog spa with pet station, bike storage and 24-hour package lockers.

Grand Station Apartments was designed by Miami-based Zyscovich Architects and Anillo, Toledo, Lopez LLC, The project will bring residents within proximity of Miami’s most important transit systems. Government Center’s Metrorail, Metromover and bus hubs, as well as MiamiCentral which features the tri-county rail service Brightline and will eventually include TriRail, are within a five-minute walk of the property.

“The delivery of this project next to the region’s most important transit centers is an indicator of the possibilities that exist to improve Miami’s urban core,” added Vadia. “It’s a convenient solution serving local office workers, Miami Dade College students and employees in the Health District, along with other members of our community. We look forward to showcasing Grand Station’s functional amenities and setting a new standard for transit oriented development.”

RedSky Capital And JZ Capital Partners Sell Wynwood Block For $24 Million

A partnership between RedSky Capital and JZ Capital Partners has sold the retail building known as Wynwood Block for $24 million, $969 per square foot, to Wynwood Block Realty LLC. The sale reflects a $2 million loss from the $26 million, $1,050 per square foot, the partnership paid for the property in 2015. The transaction was financed with a $12.2 million mortgage provided by Valley National Bank.

Located at 190 NW 27th St. and 2621 NW 2nd Ave., the building spans 24,763 square feet and the total site spans 36,750 square feet, .87 acres. Tenants include Wynwood Diner, Aesop, Mister Block Cafe and Italia Independent.

In September 2020 the RedSky Capital and JZ Capital Partners joint venture sold a 1.25 acre development site located at 2700 NW 2nd Avenue in Wynwood for $26.06 million to New York-based real estate investment and development firm Seven Valleys. The sale marked a $4.69 million loss from the $30.75 million the partnership paid for the property in 2016.

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Step Inside 'La Salona," A Roaring Twenties Palm Beach Oceanfront Mansion Which Just Sold For $48.5 Million

An iconic Palm Beach mansion originally built in 1926 on the famed South Ocean Boulevard just sold for $48.5 million. Named ‘La Salona,” the roaring twenties era compound was built by renowned Palm Beach architect Marion Sims Wyeth, who also designed Mar-a-Lago, and is part of a stretch of classic mansions overlooking the Atlantic Ocean. Gary Pohrer of Douglas Elliman represented the seller who purchased the home in 1989 for $2.25 million. Christian Angle of Christian Angle Real Estate represented the buyer who remains unnamed.

Located at 172 South Ocean Blvd., ‘La Salona’ features 16 bedrooms and 17.5+ bathrooms spread over 19,434 square feet on .92 perfectly located acres. The home exudes true Palm Beach style complete with a arched entry landscaped courtyard and Cypress coffered ceilings which are stenciled in a lime paste technique. The residence has been meticulously maintained and updated, the western portion most recently was renovated in 2016. The residence features a formal dining room, a wood-paneled library and multiple well decorated living areas, chef’s kitchen, breakfast nook and beautifully landscaped courtyard with a pool and sun bathing areas.

Imagery via Douglas Elliman

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Forest Development Launches Sales At RDA Architects-Designed Nautilus 220 In Lake Park

Forest Development has launched sales at Nautilus 220 in Lake Park in North Palm Beach County. The waterfront project is alongside Lake Park Harbour Marina with 100 slips for boats up to 100', as well as easy inlet access for a variety of water sport recreation. Nautilus 220 offers 330 condominium residences in two 24-story towers designed by RDA Architects with interior design by Steven G and landscaping by Insite Studio.

Units will range from 1,500 to 3,400 square feet and feature panoramic views of the Lake Park Harbor Marina, Intracoastal Waterway, and Atlantic Ocean. The penthouses will have rooftop terraces of over 2,000 square feet, with plunge pools and summer kitchens.

Amenities include a private dining room, resort style pool, a rooftop lap pool, fitness center, yoga deck, summer kitchen, fire pit, life-size chess board, bowling alley, billiard room, club room, soundproof music studio, golf simulator, 12 guest suites, access to a private beach club access on Singer Island with beach chair, food and beverage services.

Pricing at Nautilus 220 starts in the $700,000’s and ranges up to over $3 million with sales and marketing being overseen by Compass. A floating sales gallery is expected to open in the Lake Park Harbour Marina in May. Groundbreaking is planned for Fall 2021 with an expected completion in late 2023.

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The 48-Story Five Park Locks Town $345 Million Construction Loan In South Beach

The developers of Five Park, a 48-story residential tower coming to the entrance of South Beach at 500 Alton Road, has locked down a $345 million construction loan. The loan is the largest residential construction loan to be funded in South Florida since the pandemic took hold and is being provided by Blackstone and Apollo. Five Park is being developed by a partnership between Terra, led by David Martin, and the Galbut Family Office in partnership with New Valley. The 519-foot development will become the tallest building in Miami Beach upon its completion in 2023.

“Miami Beach is well-positioned for long-term growth as a global gateway city, with continued demand coming from both foreign and domestic buyers. Five Park is poised to become the address of choice for the City’s newest residents, offering direct pedestrian access to Canopy Park and the Miami Beach Baywalk, panoramic views across the cityscape and Biscayne Bay, and best-in-market amenities,” said David Martin, CEO of Terra.

Five Park is designed by Arquitectonica with interiors by Gabellini Sheppard. The tower will include approximately 280 residential units with a blend of condominium and multifamily residences as well as 3-acre public park. The units mix is made up of spacious two-, three-, and four-bedroom residences and penthouses. Building amenities will include an amenity deck with two swimming pools, a restaurant, sunset viewing lounge areas, a resort-style spa, and a state-of-the-art fitness center with outdoor exercise areas. The tower will also feature a grand lobby with a gourmet café as well as a Sky Club lounge with a second fitness center, a private dining room, and a building concierge offering in-room dining and other specialized services for residents.

The development also includes the construction of Canopy Park, Miami Beach’s newest public park, which broke ground in July 2020. The three-acre park, located between the 600 and 700 blocks of Alton Road, will include an array of resiliency and sustainable features along with open green spaces shaded by native tree species, pedestrian and bike paths, an outdoor gym and dog run, a MONSTRUM-designed children’s playground, and public art displays. Construction of Miami Beach’s newest world-class city amenity is currently underway and is slated for completion in Summer 2021.

Approved plans for the site also include a third phase, Miami Beach Canopy, which will encompass a signature pedestrian bridge spanning 5th Street designed by internationally renowned artist Daniel Buren and is anticipated to get underway in 2022. The Miami Beach Canopy — subtitled Walking Under, Along, and On the Colors: work in-situ by Daniel Buren — will complete the Miami Beach Baywalk, creating a safe and seamless connection running from South Pointe Park north to the Lincoln Road District and east to the beachfront. The Canopy will become an instant icon for Miami Beach and a beloved work of public art that guides pedestrians along a rainbow of colorful shadows.

The $345 million loan is the latest sign that Blackstone is going long on the Miami market following the news that the firm has purchased the office towers at 2 and 3 Miami Central in Downtown Miami for $230 million. Blackstone is planning a 200-person tech-focused office in Downtown Miami.

For more information about Five Park, private showings or purchasing/ leasing information please fill out the form below:

PROFILE Exclusive Podcast Season 1 Episode 1 Featuring Masoud And Stephanie Shojaee of Shoma Group

Season 1 Episode 1 of the PROFILE Exclusive Podcast by PROFILEmiami featuring Masoud and Stephanie Shojaee of Shoma Group is now LIVE on Spotify and Buzzsprout. Shoma Group is a real estate development and investment company with over 30 years of history and over $5 billion in completed real estate transactions. In the episode PROFILEmiami explores the history of Shoma Group and how the firm has grown into one of the largest development companies in South Florida. Shoma Group's projects include the recently delivered and now renting Sanctuary luxury apartment community in Doral and boutique, luxury condo building Ten30 South Beach, which is currently under construction. Shoma Group is based in Coral Gables, Miami at The Shoma Headquarters.

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 PROFILEmimai and Development Associate at development firm Royal Palm Companies.

The PROFILE Exclusive Podcast now available on Spotify and Buzzsprout. Coming soon to Apple Podcasts, Amazon Music and Pandora.

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E11EVEN Hotel & Residences One Of Fastest Selling Projects Ever In Miami, Now Over 70% Sold In 3 Months

E11EVEN Hotel & Residences in Downtown Miami’s Park West neighborhood has become one of the fastest selling projects ever in Miami as the hotel-condo tower has surpassed 70% sold since launching sales in January. E11EVEN Hotel & Residences is being developed by E11EVEN Partners and Property Markets Group (PMG). The project is set to rise 65-stories at 29 NE 11th Street with groundbreaking expected in late summer 2021.

E11even Partners is led by Michael Simkins, Marc Roberts, and Dennis DeGori, who own the neighboring E11EVEN Nightclub. PMG is led by Managing Partners Ryan Shear and Kevin Maloney.

E11EVEN Hotel & Residences is designed by Sieger Suarez with interiors by AvroKo. The project will feature 375 fully furnished condo-hotel units which range in size from studio to two-bedroom floor plans; in addition, there will also be a Penthouse Collection complete with two Presidential Suites which will each feature a private indoor pool. Units will come equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control; an LED (or water-based) fireplace in the living room; built-inwasher and dryer; and a signature Home Essentials Package, which will include silverware, glassware, linens, sheets, and towels.

Buyers will be able to either choose to live in their unit or put the unit into a hotel program. Sales are being overseen in-house with pricing starting at $385,000.

E11EVEN Hotel & Residences also features a full-suite of turbocharged amenities including a members-only rooftop pool, bar and restaurant dubbed Level 65; a Deepak Chopra-designed spa with meditation room and yoga studio; gourmet food hall; state-of-the-art fitness center; an 8,000 square foot sports lounge; living room lounge with music studio, and an 11th floor 20,000 square foot multi-level E11EVEN Day Club and Pool which will feature cabanas, plunge pools and a 2,000 square foot resort-style pool. Guests will also have access to transportation to and from the E11EVEN Beach Club which will be located on the beach in South Beach’s South of Fifth neighborhood.

For more information about E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Blackstone Acquires MiamiCentral Office Buildings For $230 Million To Build Downtown Miami Technology Hub

The New York City-based global investment firm Blackstone has acquired the 2 and 3 MiamiCentral office buildings from Shorenstein Properties for $230 million. The office complex, which was developed in 2017 and 2018, spans 317,939 square feet, breaking the transaction down to $723.41 per square foot. The office buildings are located at 161 NW 6th St. and 700 NW 1st Ave.; additionally, they are connected to MiamiCentral Station, which offers the Brightline train service to Fort Lauderdale and West Palm Beach. Shorenstein Properties initially acquired the properties for $170.5 million in May 2019.

Blackstone leased 41,000 square feet at 2 MiamiCentral in January 2021 for Blackstone’s in-house technology team BXTI before committing to buying the buildings. Blackstone plans to build a technology hub in Downtown Miami and will use the new acquisitions as part of its initiative. The firm plans to hire over 200 technology employees in Miami.

Other tenants at 2 & 3 Miami Central include Ernst & Young, Regus, Moss & Associates, Atlantic Pacific Corporation, Publix, Brightline, CONCACAF, MTV, Einstein Bros. Bagels and Florida East Coast Industries.

PMG, Greybrook Realty Partners and Hilton Launches Sales At The Carlos Ott-Designed Supertall Waldorf Astoria Hotel & Residences Miami

The luxury supertall hotel and condo tower Waldorf Astoria Hotel & Residences Miami has officially launched sales in Downtown Miami. At 100-stories the tower is be the tallest ever to launch sales in Miami, rising 1,041’. Construction is estimated to begin in March 2022 with completion in 2025. A 6,144 square foot sales center was recently completed nearby at 400 Biscayne. Waldorf Astoria Hotel & Residences will be developed at 300 Biscayne Blvd by a partnership between Property Markets Group (PMG), Greybrook Realty Partners and Hilton. PMG Downtown Developers LLC acquired the two-acre site in November 2014 for $80 million.

“Miami has become a true global city, drawing in a high concentration of international buyers and travelers, as well as those domestically predominantly from the Northeast, Midwest and California,” said Ryan Shear, Managing Partner of PMG. “Waldorf Astoria’s rich history and heritage combined with Miami’s flare has evoked an overwhelmingly enthusiastic response from a new generation of luxury consumers, as well as generational Waldorf brand loyalists around the world.”

Residences will offer the latest smart-home technology with custom mobile app access to concierge service. The app will feature a full menu of available offerings, including dining reservations, 24/7 room service, spa and fitness treatments, house car reservations, access to valet service, package delivery service and dog walking services.

Pricing starts at $650,000 for the Junior Suite Residences, $1 million for a one-bedroom unit, $1.7 million for a two-bedroom unit, $3,100,000 for a three-bedroom unit and $4,900,000 for a four-bedroom residence. The payment structure includes 10% at contract, an additional 10% within 6 months, 10% at the beginning of construction, 10% in March 2023 and the balance of 60% at delivery, expected in 2025.

Known as the pioneer of elegant service and timeless luxury dating back to 1931, Waldorf Astoria’s arrival in Miami and commitment to building one of the world's most extraordinary landmarks is evidence of the city's continued growth amongst some of the world's most elite cities. Waldorf Astoria is known for providing unforgettable experiences in landmark destinations across the world, a tradition which strongly resonates with PMG’s core principles of creating innovative ways to offer a unique luxury living experience.  

“We are incredibly excited to partner with PMG to bring the first Waldorf Astoria to Miami, one of the most dynamic and cosmopolitan destinations that draws discerning travelers from around the globe,” said Dino Michael, senior vice president and global head, Waldorf Astoria Hotels & Resorts. “Waldorf Astoria Hotel & Residences Miami will not only transform the city skyline, but usher in a new level of service to the Miami market– creating unforgettable experiences for every resident and guest.”

PMG has launched their own brokerage, PMG Residential, to perform as an in-house sales team to oversee sales of Waldorf Astoria Hotel & Residences. PMG Residential will be led by Sergio Pintos and Managing Broker Rodrigo Pintos. The Waldorf Astoria sales team includes Aura Aragon, Alejandra Castillo, Karine Carvalho, Daiana Quiceno and Christian Tupper in collaboration with Fredrik Eklund, Julia Spillman and John Gomes of Douglas Elliman’s Eklund | Gomes Team.

The Waldorf Astoria Hotel & Residences is designed by Carlos Ott with Sieger Suarez Architects as the architects of record. The developers also partnered with California-based interior design firm BAMO, which prides itself on creating captivating environments that flow, function and make people feel welcome, at ease and inspired to live and dream more fully. The tower will feature 205 hotel rooms and 360 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc. Amenities will include a resort-style pool deck, a fitness center, a spa, a high-end restaurant, a lounge dubbed Peacock Alley, and multiple event spaces.

“The unique nature of this project largely comes from not only creating an iconic building, but a distinguished sculpture that would permanently alter Miami’s skyline with height and design never seen before,” said Carlos Ott, concept designer.

“It has been an absolute pleasure working with PMG, Hilton and the entire project team of very talented professionals to design this truly remarkable building in which every detail has been carefully considered and meticulously designed,” said Peter Politis, CEO Greybrook Realty Partners. “We are very excited for the reveal of this iconic building that is a symbol of Miami’s growing prominence on the world stage and is sure to attract discerning buyers seeking a luxury lifestyle experience that is in a league of its own.”

Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others. PMG also recently launched E11EVEN Hotel & Residences in Downtown Miami across the street from E11EVEN Nightclub. The tower will rise 65-stories and features 375 fully-furnished condo-hotel units which start at $385K. The project is reportedly already 70% sold-out after launching sales in late-January 2021.

Renderings via ArX Solutions

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Shoma Group Sells 10 Units At Luxury Boutique Condo Ten30 South Beach In 15 Days

Ten30 South Beach, a curated collection of 43 one-, two-, and three-bedroom condominiums nestled in one of South Beach’s most vibrant neighborhoods, is quickly selling out its inventory as demand for Miami luxury real estate heightens. Shoma Group along with the project’s exclusive residential brokerage, Fortune Development Sales, have reported a record pace for sales with 10 units sold in just 15 days. Ten30 South Beach now has more than 75% of its residences under contract as sales continue to climb.

An enclave of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums by development firm Shoma Group, sales for the four-story boutique development have been fueled by the momentum received from the project’s top off in December and upcoming imminent opening this summer.

“As the tide of Northeasterners and West Coast residents from states like California rise in Miami seeking all that South Florida has to offer, the extraordinary demand we’ve recently experienced certainly stands out,” said Masoud Shojaee, President and CEO of Shoma Group. “The popularity of luxury boutique residential real estate has certainly risen this year as buyers are seeking less dense living along with larger units and outdoor spaces. Ten30 South Beach is front-and-center as an idyllic offering to fill that need and is well-positioned from a large slate of new offerings.”

“Buyers are taking notice of Ten30 South Beach. With the project set to be completed very soon it provides a significant competitive edge and is an important selling point for those who want to move here now,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Offering the privacy of a single-family home, with the turnkey appeal and convenience of a condominium, we have seen pent-up demand for this unique type of boutique product and are confident that sales will continue to reflect this.”

Set to open to residents this summer, the project offers the style and prestige of an exclusive address surrounded by premier shopping, dining and dazzling attractions of Miami Beach. For Ten30 residents to leisurely explore the neighborhood and savor South Beach, the developer recently debuted a unique offering of a Vespa at closing for new buyers on select units. Gifted with a voucher at closing, buyers will be able to choose from a premiere lineup of models from the world’s most iconic scooter brand that can easily be stored in their private, covered parking space.

“The sales pace we’ve seen the last few weeks has been nothing short of incredible,” said Stephanie Shojaee, Chief Marketing Officer of Shoma Group. “Several of our recent buyers have purchased multiple units with plans to combine them and update the floorplans to create larger units to enjoy. This is a consistent trend we’ve seen throughout the project as more and more buyers are seeking larger units along with rooftop terraces. We originally were seeing several second home buyers, but are now seeing many people who are looking to relocate permanently and want space to entertain.”

Primed for pure relaxation and a healthy lifestyle, Ten30 South Beach also recently introduced plans for its saltwater rosé-colored rooftop pool. Situated on a sprawling 6,000 square-foot rooftop deck, Ten30’s pool offers a restful retreat to relax and recharge with the added health benefits of the salt water that includes improved wellness with increased buoyancy reducing the weight of gravity on joints and muscles, soothing tension, and a gentler overall experience. Also, fewer chemicals means less irritation on skin and eyes, and the water feels softer, smoother, and purer than water sanitized using a traditional system.

Additional amenities include a lounge and outdoor kitchen area complete with barbecue and yoga space, as well as a dual gym showcasing spinning and treads with Pilates reformers and rock-climbing. The well-appointed condominiums offer a variety of floor plans each with state-of-the-art technology and high-end finishes.

Located at 1030 15th Street, Ten30 South Beach offers one-, two- and three-bedroom units with expansive private rooftop terraces. Kitchens epitomize modern elegance and functionality with Italian cabinetry and premium appliances, and designer finishes throughout compliment the spacious master bedrooms that boast a unique open bathroom concept. Residences are priced from the $500’s with low association fees of less than $400 per month.

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