Ian Bruce Eichner Launches Sales At 'La Baia' In Bay Harbor Islands

Visionary New York developer Ian Bruce Eichner, who developed the Continuum South Beach, has launched sales at La Baia in Bay Harbor Islands. The boutique bayfront condominium will feature its own private marina. A boutique, eight story structure, La Baia, Bay Harbor Islands will feature 68 luxurious residences with 20-boat slips and more than 30,000 SF of resort-style amenities. A private enclave on the Bay Harbor Islands, La Baia offers world-class waterfront living set against a backdrop of the beautiful Biscayne Bay and Miami’s ever-evolving tower-filled skyline. The project is slated for completion and delivery in November 2023.

“We are delighted to launch sales now - as Bay Harbor’s unique lifestyle is being discovered and in high demand by a new wave of buyers looking to relocate here,” said Eichner, the founder of The Continuum Company, LLC. “Just as Continuum paved the way for South of Fifth to reach its potential, so too will La Baia be transformative for Bay Harbor Islands.”

Eichner has assembled an award-winning team of design talent to bring La Baia, Bay Harbor Islands to life. La Baia is designed by Revuelta Architecture and the rooftop amenity deck and lush greenery was envisioned by world-renowned landscape architect Enzo Enea. Suffolk Construction, one of the nation’s most successful builders spanning over four decades, has been selected as the project’s general contractor.

“The same attributes I recognized in South of Fifth a decade ago draw many parallels to the Bay Harbor Islands today,” Eichner explains.

La Baia is located 9201 East Bay Harbor Drive on one of the last large-scale land parcels remaining on Bay Harbor Islands. Residences are priced from $810,000, sales are being exclusively handled by Pgutman LLC and headed by Phil Gutman.

Residences are sized from one- to four-bedrooms and range between 1,100 SF to 2,500 SF. Each La Baia, Bay Harbor Islands home will be delivered completely finished and ready to be designed, decorated and furnished. Every residence features well-appointed fixtures and finishes curated by New York-based Durukan Design. Ceiling heights range between nine- to 10- feet, there are spacious his-and-her walk-in closets, balconies with glass railings and a pair of secure underground parking spots for each owner.

In the kitchens, custom Italian cabinetry by Snaidero is complemented by Miele appliances, along with quartz stone countertops and Hansgrohe fixtures. Every La Baia, Bay Harbor Islands primary bathroom and powder room features marble flooring and dual rainfall showers.

“La Baia’s waterfront setting offers the optimum active and healthy Miami lifestyle. Now more than ever, families are taking pleasure in a wide range of outdoor activities and experiencing the joys of boating as never before,” said Phil Gutman, President of Pgutman LLC. "Our private marina is a fabulous amenity as is the ability to kayak, paddleboard or swim. It's the essence of a Florida lifestyle.”

The Bay Harbor Islands are private, yet accessible, with scenic walkways, charming neighborhoods and elegant dining and shopping along Kane Concourse that offer world-class sophistication. The Islands’ Broad Bay Harbor K-8 Center is ranked among the best schools in the region, while Miami International Airport is just a short drive away.

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Miami-Based Private Equity Firm Galium Capital Completes Successful Investment Cycle With Sale Of Two Assets

Galium Capital, LLC, a Miami-based private equity group led by Jacques Bessoudo and Iser Rabinovitz, has announced the sale of two properties, successfully completing the firms first investment cycle. The properties sold include 95 Burnett, a multifamily property in Renton, WA, as well as The Shoppes at Lake Mary, a retail center in Lake Mary, FL. The sale of the properties led to Galium Capital producing gross returns of a 23.5% IRR and 1.85X multiple for their investors.

“We are excited for the conclusion of a great investment cycle of these two outstanding properties and producing successful returns for our valuable investors. The sales mark a reflection of the great momentum we have going throughout our portfolio and we look forward to maintaining solid growth as we close out 2021,” said Jacques Bessoudo, Managing Partner at Galium Capital.

The Shoppes at Lake Mary, located at 101 N. Country Club Road in Lake Mary, FL, was one of the first assets acquired by Galium Capital in April 2018. The 38,495 SF shopping center sold for $8.4 million after Galium Capital successfully executed a value add strategy by renovating and upgrading the roof, lighting, painting, landscaping and parking lot. The property was 94% leased at the time of sale with tenants including Lake Mary Dry Cleaners, Debs Kitchen, Pinch A Penny, Training for Warriors, Burn Boot Camp, Lighthouse Seafood, Morganic Meats and Foxcase LLC.

Galium Capital also successfully sold 95 Burnett, a 106-unit multifamily located in the Seattle MSA in Renton, WA for $40 million. Galium Capital acquired 95 Burnett in 2018 and executed a value add strategy through implementation of operational and capital improvement strategies including a major renovation of the building’s amenities and apartment units.

Recently, Galium Capital had been one of the most active buyers in the Houston, TX market. In the past 12 months Galium Capital has acquired over 1,100 residential units and 65K of retail square footage in prime locations throughout Houston’s Galleria submarket. In August Galium Capital closed on the 340-unit, LEED Gold-certified Millennium High Street for the group’s third acquisition in the Galleria-district after closing on on the 431-unit Tate Tanglewood in May 2021 and 361-unit, Fairmont on San Felipe in September 2020.

Galium Capital owns and manages a portfolio in excess of $600 million of commercial real estate assets across the multifamily, office, and retail sectors in major markets across the United States. You can learn more about Galium Capital at www.galiumcapital.com.

Hines Acquires Mixed-Use Development Site In Fort Lauderdale's Flagler Village For $57.41 Million

The Houston-based development firm Hines has acquired a mixed-use development site in Fort Lauderdale’s Flagler Village neighborhood for $57.41 million. The properties acquired make up the proposed FAT Village project which were assembled by Urban Street Development, led by Alan Hooper, and Restaurant People, led by Tim Petrillo. Urban Street Development will remain as a Joint Venture partner in the project. FAT Village would bring 835,000 SF of total development spanning 500 apartment units, 350,000 SF of office space and 71,000 SF of ground floor retail. Hines has revealed plans to build one of the office buildings as a 180,000 SF T3 building, T3 is known as “Timber, Transit and Technology,” in which the building would be built out of sustainable timber. Hines already has built T3 buildings in Minneapolis, MN and Atlanta, GA and has proposed another in Austin, TX.

Flagler Village is a fast transforming neighborhood in Fort Lauderdale that was once an industrial warehouse district and now represents Fort Lauderdale’s Arts District, full of art galleries, studios, craft breweries, coffee shops and retail.

Hines was founded in 1957 by Gerald D. Hines and has $83.6 billion under management. The firm has developed over 492 million SF including Williams Tower, One Shell Plaza, Pennzoil Place, JPMorgan Chase Tower, the TC Energy Center, Kinder Morgan Tower and Aris Market Square in Houston. Hines also developed the Jean Nouvel-designed 53 West 53 and 885 Third Avenue, also known as the infamous Lipstick Building.

57 Ocean Achieves $330 Million Sell-Out And Receives TCO With Closings To Begin In October

57 Ocean condominium on Miami Beach’s iconic Millionaire’s Row has announced that it has achieved a $330 million sellout and has received its TCO. Closings are set to begin in October. Sales and marketing launched in 2018 and were led by Fortune Development Sales. Located at 5775 Collins Ave., 57 Ocean was developed by Brazilian billionaire Dr. José Isaac Peres’ Multiplan Real Estate Asset Management, led by managing partner Marcello Kingston.

57 Ocean offers 81-units which come in two to four-bedroom floor plans which started at $1.5 million. Units range in size from 1,200 to 3,600+ square feet, as well as 18 flow-through Sky Residences. The well-appointed homes feature expansive terraces, each stretching 12 feet deep, as well as contemporary Italian kitchens and baths by Poliform. The buildings crown jewel penthouse sold for $36 million, a 7,500 SF Sky Residence with an additional 7,000 SF of outdoor space.

Five-star amenities will include a holistic spa by One Ocean Beauty and products from its marine-based skincare line, a wellness pavilion with a thermal suite and a relaxation and meditation area, along with poolside treatment cabanas, a state-of-the-art fitness center with top-of-the-line MyIsle training equipment by MyEquilibria, and an indoor Technogym fitness center. There will also be a children’s activity room, 24-hour concierge services, pool and beachfront concessions and attendants, direct access to the adjacent Miami Beach Walk, and more.

High-net-worth individuals have been attracted to 57 Ocean from across the globe, but primarily from New York, which accounts for over 65% percent of the tower’s domestic purchases. Buyers singled-out the project for its unparalleled location, contemporary designs by Arquitectonica and interior architect Patricia Anastassiadis, and robust assemblage of holistic “Blue Wellness” amenities and services.

Check out PROFILEmiami’s full coverage of 57 Ocean

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