Mid-Century Modern Condominium Ten30 South Beach Sells Out Before Completion

Miami-based developer Shoma Group is excited to announce that its exclusive, upscale condominium, Ten30 South Beach, has completed sales. Fortune Development Sales, the exclusive residential brokerage for the project, worked closely with Shoma Marketing to sell all 33 units of the four-story Miami Beach development. This sellout is a testament to the project's desirability and the current state of the real estate market. The development will open its doors to residents before the end of the year.

Shoma Group is led by Masoud Shojaee, president and chairman of the board, who has developed more than 10,000 residences and completed over $5 billion in real estate transactions. With 33 years of experience, Shojaee identified a void of moderately priced modern condominiums in the Miami Beach market and set out to develop Ten30 as a luxury retreat at an attainable price.

“The demand in the Miami market right now is incredible and we've seen tremendous buyer response to this project,” said Shojaee. “As a beautiful, boutique development in one of Miami's hottest neighborhoods, Ten30 South Beach offers residents an exclusive haven with top-notch amenities at a compelling price.”

Ten30 features a range of one- to three-bedroom residences and a collection of penthouses, ranging in size from 786 to 3,005 square feet priced from $566,000 to $1.9 million. Designed by Adriana Hoyos and Saladino Design Studio, the mid-century modern-style units feature Italian-designed chef-caliber kitchens, Samsung’s Family Hub refrigerator, and Bluetooth-enabled keyless entry and camera surveillance. Amenities include a 6,000-square-foot rooftop deck and rosé-colored pool, two fitness centers, a lounge, an outdoor kitchen area with a barbecue and yoga space.

In March, Shoma and Fortune International Group reported a record pace for Ten30 sales with 11 residences sold in just 15 days. Several buyers purchased multiple units with plans to combine them and update the floor plans to create larger units, which are in greater demand as many out-of-state buyers relocate to Miami.

“I am immensely proud of the Fortune Sales and Marketing teams for accomplishing sellout before completion,” said Edgardo Defortuna, president and CEO of Fortune International Group. “It was a great experience to work with Shoma and we look forward to collaborating on more projects in the future.”

By Katya Demina

Master Brokers Forum Listing: Step Inside Villa "Il Sogno" On Atlantic Isles In Sunny Isles Beach Asking $11.5 Million

Master Brokers Forum: Master Brokers Forum member Alexandra Peters presents Villa “Il Sogno”, located on secluded Atlantic Isle, across from a deeded private beach on America’s Rivera. Custom-built in 2005, the interior is a showcase of imported finishes from around the world: impressive book-matched onyx floors from Italy, Pakistan, and Bolivia; mahogany doors from Honduras; and wood floors from Brazil. The foyer boasts 35-foot high ceilings with a gold-leaf fresco depicting the Greek Gods, painted by a French-trained Chilean artist. The ground level features a private dining room, bar, hand-carved onyx fireplace, a media room, two bedrooms, laundry room and kitchen. A grand onyx staircase leads to the second level with six further loft-style bedrooms, including the master suite with stunning water views and a jaw-dropping dressing room that is a masterpiece in itself.

319 Atlantic Ave, Sunny Isles Beach is currently listed for $11,500,000 with Alexandra Peters of ONE Sothebys, who can be reached at 786-282-5290 and/or AlexandraRealtor@gmail.com.

The Master Brokers Forum is a local network comprised of South Florida's elite real estate professionals. Learn more at www.MasterBrokersForum.com.

This article was produced in partnership with Master Brokers Forum

MG Developer Plans To Break Ground on Seville-Inspired Gables Village Reviving George Merrick's Vision For The City Beautiful

The Coral Gables-based MG Developer is about to break ground on its newest enclave, Gables Village, a 48-unit Seville-inspired residential community that will pay homage to George Merrick’s legacy and history in the form of shaded tree-lined streets, plazas, parks and fountains. MG Developer’s CEO, Alirio Torrealba, plans to revive George Merrick’s original vision for this parcel of the City Beautiful in a classic, yet modern way.

Located at 535 Santander Avenue, the $50 million village will consist of duplexes, townhouses, and condominiums set throughout 17 lots, replacing the existing rental apartments bordered by Malaga Avenue, Santander Avenue, Segovia Street and Hernando Street. Inspired by Merrick’s seven villages, Gables Village will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists, and bordered by gardens inspired by the alcoves in the Plaza de España.

Now in its planning stage, Gables Village will integrate gardens and courtyards throughout an entire block, with 50% of the site expected to include lush landscaping and hidden parking garages featuring an artistic component that complements the entire Coral Gables area. The assembly of the project pays homage to the city’s past while building for modern-day luxurious comforts.

“As our projects evolve and move through the planning and design phase, we remain committed to working closely with the City of Coral Gables to deliver communities that fall in line with the City’s aesthetic values, which are truly rich in historic and cultural traditions,” added Torrealba. “Furthermore, we create welcoming homes from the inside out, and places that people from the entire community can enjoy and appreciate.”

The development will include townhomes, duplexes, lofts, flats and an archway with raised residences above ground level, creating a distinct welcoming feeling into the Gables Village enclave. Units will vary in style and sizes including, one-bedroom flats to four- bedroom townhomes that range size, from 1,750 sq. ft. to 3,100 sq. ft. The village will also boast recreational amenities, including a multipurpose room, a pool, and a Wellness Center for residents to enjoy. Construction for the project will start in 2022 and will be completed in 2024.

MG Developer, led by Alirio Torrealba, is one of Coral Gable’s most active residential developer having completed its newest project, Althea Row, which nearly sold-out in less than 90 days. MG will soon wrap-up its Biltmore Square community, as it completes Biltmore Row, the 10 exclusive townhomes featuring a total of 5,561 square feet each, with elaborate coralina-stoned entryways that trace back to the heritage of classical design elements found in Spanish colonial architecture.

PROFILE Exclusive: Inside Onda Residences In Bay Harbor Islands With Developer Valerio Morabito

PROFILEmiami caught up with Valerio Morabito, CEO of Morabito Properties, to discuss his newest joint venture condo development with Ugo Colombo’s CMC Group, Onda Residences in Miami’s Bay Harbor Islands. Designed by world-renowned architect Bernardo Fort-Brescia of Arquitectonica, the 8-story boutique building’s waterfront location will boast more than 300 feet of bay frontage, a private marina, and sweeping views of Biscayne Bay and the Atlantic Ocean. Construction of Onda is estimated to begin this November with completion slated for 2023.

PROFILEmiami: What are your plans for Onda and what does “Onda” mean?

Valerio: When my partner Ugo Colombo and I were envisioning Onda, we had a “less is more” philosophy in mind – an intimate boutique-style condominium with large residences and luxury amenities. The project’s most unique feature of all, it’s waterfront location on the shores of the exclusive Bay Harbor Islands, was our biggest inspiration.

Onda is the Italian word for “wave.” With over 300 feet of direct bay frontage, the property will include a private marina for residents, a water sports launch dock with available kayaks, paddle boards and inflatables, and direct ocean access through Miami’s Haulover inlet.

PROFILEmiami: Tell me about the building’s architectural design.

Valerio: We chose Bernardo Fort Brescia of Arquitectonica for Onda’s architectural design. Bernardo is a world class architect that knows how to translate the beauty of this city into design. That's what he successfully did with Onda, reflecting the movement of the water and the beauty of the bay into the building’s exterior façade with its undulating balconies.

We have always imagined a place immersed in nature, facing the crystal waters of Biscayne Bay and overlooking Haulover natural park, an oasis of peace and tranquility. Steps away from the best shopping, restaurants, beaches and schools in this city. A place where people can connect with nature, enjoy watersports and boating thanks to the marina and the immediate proximity to the ocean. A place where residents can relax and reinvigorate in the spa and gym. A small, private and fully amenitized building in a unique location that makes life easy and filled with great experiences.

PROFILEmiami: What about the rest of the design team and the interiors?

Valerio: We partnered with A++ Human Sustainable Architecture to imagine the building’s interior design and amenity spaces, and with Enzo Enea of Enea Garden Design to create a signature landscape design for the surrounding grounds.

Onda’s interior décor is being imagined by Carlo and Paolo Colombo, the creative masterminds and founders behind A++. The partners, who are both from Milan, the design capital of the world, have built their reputation by designing and building architectural projects – from hotels and restaurants, to residences and commercial spaces – inspired and heavily rooted on the vision of sustainability and well-being.

Their design of the building incorporates natural materials and textures amid light wooden floors, stone and marble accents, and mid-century style furnishings – all in tones of white, beige, gray, brown and gold. Lush green foliage and planters are incorporated into every space, with views of the turquoise waters of Biscayne Bay on full display.

We wanted Miami’s tropical spirit to come together with an Italian sense of style and elegance, and I believe we have achieved it through these great collaborations.

PROFILEmiami: What makes Bay Harbor Islands so unique?

Valerio: Bay Harbor Islands has been Miami’s best kept secret. It’s a quiet and charming neighborhood surrounded by some of South Florida’s finest shopping, beaches, and schools. The area is synonymous with an upscale, family-oriented lifestyle that appeals to buyers from across the country and around the world. You can be close to the ocean without having to deal with the traffic and hustle-and-bustle of Miami Beach.

PROFILEmiami: What types of buyers are purchasing residences at Onda?

Valerio: The vast majority – more than 80 percent – of our buyers are coming from across the U.S., particularly the northeast markets. We are seeing an uptick in demand from domestic buyers looking to relocate from major U.S. cities lured by South Florida’s quality of life, lower business and living expenses, and tax-friendly policies.

Our buyers are attracted the quality of our finishes and construction, our large residences, our private boutique model, our amenities – and overall, our unmatched waterfront lifestyle. Onda provides all the conveniences of luxury condo living on the Miami waterfront, but at less cost than a single-family house.

Our private marina and direct ocean access via the Haulover inlet is a huge selling point for buyers with boats.

PMG Partners With FTX.US To Accept Cryptocurrency at South Florida Real Estate Developments

PMG has announced a partnership with West Realm Shires Services Inc. (“FTX.US” or “FTX”), a leading U.S.-regulated cryptocurrency platform, as the sole platform handling cryptocurrency conversions for two of its South Florida projects deposits and residential transactions — E11EVEN Hotel & Residences Miami and Waldorf Astoria Residences Miami. This announcement represents FTX.US’s first entry into the real estate market, further establishing developer PMG as a trailblazer in the real estate industry and FTX.US as an innovator in the cryptocurrency financial services space. To commemorate the partnership PMG hosted the FTX/ Crypto Roundtable at Waldorf Astoria Residences Miami where Miami’s real estate leaders with experience completing deals using cryptocurrency met with FTX.US VP of Business Development Avinash Dabir for an in-depth discussion about how the FTX cryptocurrency platform handles cryptocurrency conversions for PMG’s luxury real estate properties.

“As FTX continues to grow its presence in the Miami area, we couldn’t think of a more ideal time to work with such a prestigious cryptocurrency exchange platform,” said Ryan Shear, Managing Partner of PMG. “We foresee this partnership with FTX bringing increased security for our cryptocurrency payment processes offered to buyers due to their extremely diverse portfolio and impressive experience.”

In June, national developer PMG announced it is the first U.S. real estate developer to accept cryptocurrency for condominium deposits in pre-construction projects through E11EVEN Hotel & Residences Miami. Additionally, E11EVEN Partners, the hospitality brand co-developing E11EVEN Hotel & Residences with PMG, announced in April that it is accepting cryptocurrency for transactions at its globally renowned nightlife venue, E11EVEN Miami. Through this deal, buyers utilizing cryptocurrency for either the remaining available inventory at E11EVEN Hotel & Residences Miami or Waldorf Astoria Residences Miami, or each following deposit, will have their payments converted through FTX.US.

FTX.US President Brett Harrison commented on the news, “Alongside FTX, cryptocurrency’s presence on the global stage only continues to grow, and this is just the latest development in that process. We are excited to add such prestigious institutions to our roster of partners and increase consumer access to digital assets and digital asset-related services. At FTX, we believe that crypto is the future of finance and strive to do our part on a daily basis to make this future come to fruition.”

Centrally located in Downtown Miami’s Park West District, E11EVEN Hotel & Residences Miami developed by PMG and E11EVEN Partners will be designed by internationally renowned Sieger Suarez Architects and feature finished residences and hotel rooms by award-winning design firm AvroKO. E11EVEN Hotel & Residences Miami encompasses 375 fully furnished residences. Each unit comes equipped with fully-integrated “smart building” features and 24/11-style amenities, including celebrity-chef dining experiences throughout the property, a casino-style sports lounge, an E11EVEN’s Members rooftop experience, and a world-class wellness center curated by Chopra Spa & Studio. E11EVEN Hotel & Residences Miami is destined to be a lifestyle experience and destination, the first of its kind in the United States. Residences start at $300,000 and include studio, one, and two-bedrooms, as well as a limited Penthouse Collection along with two Presidential Suites.

Located at 300 Biscayne Boulevard, the development of Waldorf Astoria Residences Miami is led by developer PMG, Toronto-based private equity firm Greybrook Realty Partners, global investment company Mohari Hospitality, S2 Development and will be managed by global hospitality company Hilton. The tower will rise 100 stories and 1,049 feet above Biscayne Bay as the tallest residential building south of New York City. The property will consist of 360 private residences as well as 205 guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center. The development marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria Hotels & Resorts, in the Miami market.

Residences start at $1 million, with sales and marketing being led in-house by PMG Residential, including 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.

Lerner Acquires Motion at Dadeland High-Rise Multifamily For $114 Million

The Maryland-based Lerner Enterprises has acquired Motion at Dadeland for $114 million from the development partnership of 13th Floor Investments, Adler Group and Barings. Lerner received a loan from capital managed by KKR to finance the acquisition. Newmark's South Florida office led by Avery Klann exclusively represented the seller, while JLL's Rob Carey (Washington, DC office) and Ted Taylor (South Florida office) along with Newmark's Debt and Structured Finance team of Kassi Saridakis (Washington, DC office) and Matt Williams (South Florida office) advised Lerner on the transaction.

Motion at Dadeland is a 25-story class A+ multifamily high-rise community comprised of 294 market-rate apartments and 8,246 SF of amenity-based retail, including a preschool slated to open Q4 2021. The building is located at 8400 S. Dixie Highway, adjacent to Dadeland North Metrorail Station in Miami, Florida. Lerner will also be the property and asset manager of Motion at Dadeland.

"We are excited to own and manage a market-leading asset and provide increased value to our residents in Florida," said Melissa Balkin, Managing Director, Lerner Residential Florida.

Founded in 1952, Lerner is a developer, owner and manager of office, multifamily, retail and hospitality assets primarily in the greater Washington, DC region but also in other markets such as New York City and Florida. Lerner is also the owner of the Washington Nationals Baseball Club, the 2019 World Series Champions. Lerner's expertise in the Florida markets began with the Nationals' 160-acre training facility at The Ballpark of the Palm Beaches in West Palm Beach.

"We are thrilled to add to our Florida portfolio with the acquisition of Motion at Dadeland. Lerner is aggressively pursuing multi-family assets across Florida, focused primarily on the tri-county regions of Palm Beach, Broward and Miami-Dade counties. Motion will be a cornerstore asset in our portfolio for many years and we are pleased to complete our first transaction with KKR as a lender," reported Michael L. Cohen, Vice President of Investments at Lerner.

Motion at Dadeland, a transit-oriented development, is located within a ½ mile of nearly 2 million square feet of office with nearly 12 million square feet across the Dadeland submarket. Motion is also across the street from Dadeland Station which is home to Target, Best Buy, Dick's Sporting Goods, Bed Bath and Beyond, Michaels and PetSmart. The property is also walking distance from Dadeland Mall, which is the home of Tesla, Apple Store, Cheesecake Factory, Chick-Fil-A, LEGO, Coach, Disney Store, Macy's Florida Flagship, JC Penney, Zara, Lacoste and Saks Fifth Avenue.

Image via 13th Floor Investments

Continuum South Beach Announces Mandatory Vaccination Requirement For Entire Workforce

Continuum South Beach, a resort-style oceanfront condominium residences located in Miami Beach’s South of Fifth neighborhood, has implemented a mandatory vaccination requirement among its employees and contractors. Continuum’s Master Board of Directors, together with Associa/Marquis Association Management, the industry’s largest community management company, announced it would be stepping up its vaccine requirements by mandating that all employees and contracted/third party personnel are vaccinated or provide proof of COVID-19 vaccination in order to continue employment. The management team and Board has established a target date to have all employees fully vaccinated by November 15th this year, a move considered to be the first of its kind for staff among the region’s vast number of residential properties.

“Our requirement falls in line with many major companies requiring a vaccine mandate,” says Rishi Idnani, Managing Director at the Continuum. “By Grandfathering in this most essential new protocol, we are convinced that this approach will reinforce our commitment in keeping our residents and employees as safe as possible, as we charter a new course to battle the pandemic ahead of the upcoming high season. We hope it sets a good example and an industry standard, or best practice, for other residential communities to follow suit. We have been fortunate to have the majority of our residents and employees vaccinated in the recent months, and having vaccinated more than 500 residents to-date is a colossal achievement and first program of its kind thanks to our dedicated partners. I believe that making the vaccination as easy as possible enables people to make the right decision and we are delighted to offer this service to our residents.”

The Continuum has implemented state-of-the-art technologies for the health, safety and security of its residents. With the help of today’s most advanced security company, iDentyTech Solutions, the property has successfully phased its reopening of all amenities and common areas seamlessly for homeowners, strictly adhering to state and local guidelines, while minimizing the risk of exposure to COVID-19. To heighten the level of “contactless living” throughout the development, the latest facial recognition and biometric technology has been introduced, allowing residents to enjoy the benefits of personal authentication as they move around the property.

Global Law Firm Reed Smith Signs 22K SF Lease at Southeast Financial Center in Downtown Miami

JLL has announced that Reed Smith, an international law firm placed in The American Lawyer's AmLaw 50, has leased 22,495 square feet of office space on the 26th floor of Southeast Financial Center, downtown Miami’s premier office tower. The law firm, previously located in Brickell, is relocating to downtown as it seeks to expand its presence in Miami.

Reed Smith was represented by Barbara Liberatore Black, Managing Director of JLL South Florida, and Jeff Gordon, Executive Vice President. On the agency leasing side, Eric Groffman, Managing Director, and Cameron Tallon, Senior Vice President, represented the building’s ownership, Ponte Gadea Biscayne.

Reed Smith, which established its Miami presence in 2017, has 30 offices worldwide. The firm’s Miami office is home to lawyers whose practices focus on commercial disputes, entertainment and media, finance, insurance recovery and international arbitration. The Miami team also has deep connections to clients across Latin America.

“In the four years since establishing a presence in Miami, we have built a formidable team with strong relationships within the region’s business and legal communities and the state and local government, while also advising domestic and global companies currently or seeking to do business in South Florida,” said Constantine Karides, managing partner of Reed Smith’s Miami office.  “As a result, when considering relocation, we prioritized a space that allowed for continued and sustained growth and served as a physical representation of Reed Smith’s reputation in the market – thriving, soaring, energetic, and well-connected.  Southeast Financial Center met each of those criteria and I speak for all of my Miami-based colleagues in expressing our excitement in making the move.”

Situated in the heart of downtown Miami’s Central Business District, Southeast Financial Center has a total of 1.2 million square feet, making it the city’s tallest and largest office tower. The property is comprised of a 55-story office tower and features a 30,000-square-foot outdoor plaza, complete with beautiful landscaping, seating area and café and dining options. The tower also sits across from the city’s free Metromover and less than a mile from I-95, making it one of downtown’s best-connected office buildings.

“Miami continues to see an influx of businesses relocating or expanding here, with Southeast Financial Center being one of the most sought-after office addresses,” said JLL’s Eric Groffman. “Southeast Financial Center is the tower of choice because it puts its tenants door-to-door with some of the city’s leading financial and professional services firms and provides access to residential towers, major retail lifestyle destinations and numerous cultural and performing venues.”

By Katya Demina

Foster + Partners-Designed Safra National Bank Headquarters Revealed As 3050 Aventura

Following the demolition of the Safra National Bank building in Aventura, site work is now underway on 3050 Aventura. The new office building will serve as the headquarters for Safra National Bank of which an affiliate, 3050 Aventura Owner LLC, is developing the project. 3050 Aventura will replace the former 3-story office building which was built in 1991 and acquired by Safra National Bank for $11.5 million in 2009.

Plans for 3050 Aventura were first submitted to the City of Aventura in December 2020 to redevelop the 1.31-acre site. 3050 Aventura was designed by Foster + Partners with ODP Architects as the architect of record. The project will rise 12-stories and will feature 113,650 SF of office space along with 386 below-grade parking spaces. Plaza Construction is the general contractor. The project expects to receive LEED Gold Certification.

Safra National Bank of New York is a commercial banking institution that serves high-net-worth individuals, large businesses, and international corporations through branches in New York and Miami. Safra National Bank offers wealth management, brokerage services, bond trading, lease financing, and correspondent banking. Safra National Bank of New York is affiliated with Banco Safra S.A., one of the largest private banks in Brazil which was founded by Brazilian billionaire-banker Joseph Safra.

Images via ODP Architects

ROVR Development's Grand Station Apartments Receives TCO In Downtown Miami

Grand Station Apartments, a transformative collaboration between Miami-based ROVR Development and the Miami Parking Authority (MPA), has received its TCO and residents have started to move-in.

The $70 million, 30-story apartment tower, located at 240 North Miami Avenue, features 300 apartment residences, and brings a combination of residential floorplans to MPA’s headquarters, while expanding the existing garage at Courthouse Center with 350 parking spaces.

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

Designed by Miami-based Zyscovich Architects and Anillo, Toledo, Lopez LLC, Grand Station 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.

Studios, one- and two-bedroom units 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. Effective rents range from $1783 to $2300.

“We are very proud to have worked alongside the Miami Parking Authority (MPA) to conceptualize, and ultimately realize this wonderful project,” said Rodriguez. “It creatively maximizes MPA’s space, allowing them to enhance their existing facilities.”

“Transit-oriented developments are key to our city’s urban evolution,” said Vadia. “The building’s accessibility to Miami Dade College, the Health District and downtown as a whole ideally positions Grand Station.”

Grand Station Apartments brings a cosmopolitan flair with a vast array of indoor and outdoor amenities. The development includes 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 extraordinary views of the city scape.

An upscale amenities deck with a variety of Class A finishes features 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 also includes a concierge service, dog spa with pet station, bike storage and 24-hour package lockers.