Kobi Karp Designed Gateway at Wynwood Class A Office Complex Refinanced With $113 Million Loan

Berkadia has arranged a $113 million loan to refinance Gateway at Wynwood, a 220,000-square-foot, Class A office and retail project designed by Kobi Karp in Miami’s Wynwood District. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Associate Director Robert Iudice of Berkadia South Florida arranged the loan on behalf of New York-based Rose & Berg Realty Group LP (“R&B Realty”), a family-owned real estate management, leasing and construction company. The property is leased to a diverse tenant roster including BoConcept, OpenStore and Veru. A10 Capital, a vertically integrated, full service commercial real estate lender, provided the three-year loan, with two, one-year extension options.

Berkadia also secured the original construction loan for the project in early 2020 through lender 3650 REIT. This time,

"The volatility in the lending environment made this office refi transaction challenging, but our relationships with the lending community and the strength of this asset helped us secure one of South Florida's largest office refis in recent times," said Foschini. "We are proud to have played a key role in helping our client move forward with its plans as it continues to attract strong office and retail tenants to the trophy property in the highly desired Wynwood area north of downtown Miami."

Designed by ‘starchitect’ Kobi Karp, Gateway at Wynwood is located at 2616 North Miami Avenue, in the epicenter of Miami’s Wynwood corridor, one of the most desirable 24-hour submarkets in the nation. It features approximately 220,000 square feet of Class A office space encompassing roughly 27,700 square feet of space on each of its floors. It features a private rooftop terrace with panoramic views, as well as 512 on-site parking spaces. The project also features 24,000 square feet of retail space and is centrally located at the convergence of the Midtown and Wynwood submarket’s’ high-traffic retail corridor, with immediate access to thousands of new residential units.

Gateway at Wynwood is just minutes away from Miami’s Central Business District (CBD), Midtown, Edgewater, the Arts and Entertainment District, Brickell, Miami Beach, and a variety of mass transit options including I-195, the Miami Metrorail and the new Brightline commuter rail line connecting Miami to Fort Lauderdale and Palm Beach.

R&B Realty Group's Kobi Karp-Designed The Gateway at Wynwood Nears Completion Revealing Vibrant Mural

The Gateway at Wynwood, a Class A office building developed by R&B Realty Group and designed by renowned Miami architect Kobi Karp, is nearing completion. The long-awaited exterior garage cladding, which depicts a vibrant mural, has been fully installed just in time for Art Basel next month. Additionally, the rooftop deck has been completed and signage is going up around the building. Located at the intersection of Wynwood and Midtown, the office building, which found inspiration in Wynwood’s innovative spirit and modern vibe, will allow Wynwood's new residents to walk to their offices and shops without having to get in their cars. Wynwood, which used to be home to neglected warehouses, is seeing a construction boom of condos and apartments and, now, office buildings as well.

The Gateway at Wynwood will offer about 195,000 SF of leasable Class A office space and nearly 25,900 SF of prime street-level retail space. Kobi Karp designed the environmentally responsible building with flexible floorplans, a private rooftop terrace, gym, unique bay window system, 24/7 on-site security, vibrant exterior cladding, and 2:1,000 on-site covered parking. This summer, R&B Realty Group announced the building's first office lease signed with biotech company Veru Inc. The eight-year, 12,155-square-foot lease will serve as the company's global headquarters and triple Veru's current office space.

Wynwood has developed into a new office submarket in Miami, creating competition for more established office markets such as Downtown Miami, Brickell, Aventura and Coral Gables. Several big-name companies have made Wynwood their home, such as Spotify, Live Nation, Veru and Founders Fund. New zoning has also attracted many multifamily developers such as Related Group, Lennar, Fisher Brothers, and AMLI Residential, who recently broke ground on one of the largest mixed-use multifamily developments to ever break ground in Wynwood.

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

Cymbal Development Tops Off Oasis Pointe Residences In Dania Beach 6 Months After Breaking Ground

Cymbal Development and DLT Global have topped off Oasis Pointe Residences in Dania Beach, just 6 months after breaking ground on the project. Plaza Construction is the general contractor on the multi-unit waterfront apartment complex which set to open Spring 2022. Oasis Pointe Residences is part of Cymbal Development's $1 billion+ development pipeline slated for Broward County.

Cymbal Development, led by Asi Cymbal, and DLT Global, led by Hector Torres, were joined by elected officials and public servants including Broward County’s Vice Mayor Michael Udine, Dania Beach Mayor Tamara James, Vice Mayor Marco Salvino, Dania Beach City Commissioner Joyce Davis, former Mayor Bobbie Grace, former Commissioner Bill Harris, Development Director Eleanor Norena, Special Permitting Coordinator Tammie James, and the Executive Director at Dania Beach Community Redevelopment Agency Michael Chen.

To mark the occasion, the final piece of the structure was hoisted into place atop the highest point of the building accompanied by a small money tree from the property as confetti cannons were launched and a giant American flag waved in the background. After the ceremony, the tree was brought down safely to be replanted in the meditation garden at Oasis Pointe Residences.

A 2.4-acre waterfront complex, Oasis Pointe Residences will serve as the area’s first waterfront apartment building with 301 units, thoughtfully designed details, and exceptional indoor and outdoor amenities to create fresh-air havens of relaxation and retreat in a post COVID-19 world. The living spaces of the building will feature a mix of studios, one, two, and three-bedroom luxury apartments with open floor plans and modern features.

The residential design of the luxury indoor and outdoor living spaces responds to the timely demands for better natural ventilation, lighting, and fresh air quality while the amenities seek to enhance the mental and physical well-being of residents.

Inspired by the surrounding water and nature, key amenities and features of the eight-story building will include: butterfly and meditation gardens; a boat club; a waterfront boardwalk with a 19-slip marina; a Zoom lounge with private office suites and workstations; an outdoor lap pool; a fire pit with outdoor BBQ and picnic areas; a state-of-the-art, open-air fitness facility and yoga studio; an indoor lounge and game room; a dog park; and air purification, sterilization, and ionization systems that are 99% effective against COVID-19.

“We are grateful for this opportunity to build an amazing project in Dania Beach, on the water, and adjacent to the myriad of dining, shopping, and entertainment options of Dania Pointe. We are here to make a significant and positive impact on the community and on this great city. We love Broward County and are looking forward to completing our $1 billion development pipeline in Broward County!” said Asi Cymbal.

Located at 150 South Bryan Road in Dania Beach with easy access to I-95 and I-595, Oasis Pointe will be in close proximity to the Fort Lauderdale-Hollywood International Airport, Port Everglades Cruise Port and the corporate headquarters of Spirit Airlines and Chewy. It is adjacent to Dania Pointe, a new mixed-use development that features premier shopping and dining options, commercial spaces, and a dual-branded hotel.

Ultra-Luxe Condo At One Thousand Museum Sells For $7.2 Million In Cryptocurrency Ethereum

Crypto sales in Miami continue to become more mainstream as the city continues to make itself a Crypto City and emerging tech hub. Unit 2202 at One Thousand Museum by Zaha Hadid Architects has sold for $7.2 million in the cryptocurrency Ethereum, becoming the most expensive crypto currency real estate purchase to date in the City of Miami. It is also second most expensive in Miami-Dade County behind a penthouse at Arte Surfside that sold last month for $22.5 million. Keith Marks and Sonia Toth of The Keith & Sonia Team at Brown Harris Stevens were the exclusive listing agents. Zachary Oppenheim and Madison Roberts of Oppenheim Realty brought the buyer.

The 4 bedroom 5.5 bathroom northeast corner unit spans 4,600 SF. The residence offers far reaching views of Biscayne Bay and Miami Beach and overlooks cultural landmarks including Perez Art Museum Miami (PAMM) and Phillip and Patricia Frost Museum of Science. The residence also features spacious balconies and the finest attention to detail and state of the art appliances and lighting, including Poliform, Gaggenau, SubZero, Dornbracht, Petzgold and Creston.

One Thousand Museum is regarded as the essence of unprecedented fusion of art, architecture, design and location within Downtown Miami. Designed by famed architect Zaha Hadid, the building is home to the highest helipad in the US other than Los Angeles. Celebrity residents include David and Victoria Beckham.

Cryptocurrency has emerged as a viable form of payment for real estate and Miami has been at the cornerstone of crypto becoming mainstream. Miami is quickly becoming a cryptocurrency and blockchain hub led by Mayor Francis Suarez. Arte by Antonio Citterio in Surfside became the first new construction project to accept cryptocurrency for real estate followed by E11EVEN Hotel & Residences. A unit would later sell for a record $22.5 million in cryptocurrency at Arte.

For a background on cryptocurrency and blockchain and its application to real estate check out the PROFILE Insider: The Crypto Revolution Versus The Evolution of Blockchain Part 1.

Images via Brown Harris Stevens

For more information about purchasing real estate using cryptocurrency, private showings or purchasing/ leasing information please fill out the form below:

The Kobi Karp-Designed Class-A Office The Gateway At Wynwood Powering Towards Completion

The Gateway at Wynwood, the newest Class-A office building in Wynwood’s emerging neighborhood and new office submarket, is powering towards completion in the second half of 2021 after topping off in December 2020 at 13-stories. The project, which is located at 2916 N Miami Ave., is being developed by R&B Realty Group and is designed by Kobi Karp. Plaza Construction is the general contractor. The Gateway at Wynwood will feature 195,000 SF of leasable office space, private rooftop terrace and 25,900 SF of retail space on the ground floor.

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

For more information about commercial leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:

Brad Meltzer Named Chairman And CEO of Plaza Construction

Brad Meltzer has been named Chairman and CEO of the New York-based Plaza Construction as long time Chairman and CEO Richard Wood has officially retired. Meltzer is prompted from President and Christopher Mills has been promoted from COO to President. Plaza Construction is one of the largest construction companies and general contractors in Florida and the northeastern United States with over 500 employees spread across Florida, New York, California and Washington D.C. Plaza Construction is owned by China State Construction Engineering Corp's American entity, China Construction America, who acquired the firm in 2014 from New York-based real estate development firm Fisher Brothers. Meltzer will remain based in Miami and Mills in New York City. Both started with Plaza Construction in the New York City office in the 1990’s.

Plaza Construction has built some of the most iconic buildings in Miami such as One Thousand Museum, Biscayne Beach, W South Beach, One Ocean, Marea, Marquis and 1 Hotel & Homes. In New York Plaza Construction has built 99 Hudson Street, 125 Greenwich Street and Madison Square Park Tower, amongst others.

Quadrum Global Breaks Ground On The NBWW-Designed Arlo Wynwood Hotel

Arlo Wynwood has become the first hotel in Wynwood to break ground. The project is expected to cost $29.6 million and construction will be overseen by Plaza Construction. When complete the hotel will feature 217 pod-style hotel rooms and rise 9-stories with 141,758 square feet of total development. Arlo Wynwood is designed by Nichols Brosch Wurst Wolfe & Associates Architects (NBWW) and is located at 2217 & 2233 Northwest Miami Court. The boutique hotel, which is being developed by Quadrum Global, will offer “pod” style micro-rooms along with featuring a fitness center, yoga deck, valet parking, restaurants, bars and an urban event venue. The interior of the building will feature a landscaped courtyard as well as an outdoor gallery for large art displays and an amphitheater. The building will feature finishes including exposed concrete and structural metal beams along with wood and glass with tropical landscaping. Quadrum Global initially purchased the 30,000 SF lot for $8.55 million in November 2018.

Wynwood's Newest Class-A Kobi Karp-Designed Office Building, The Gateway, Tops Off

The Gateway at Wynwood has just topped off at 13-stories by R&B Realty Group. The project is a Class-A office building in Wynwood’s emerging neighborhood and new office submarket. The Gateway will feature 195,000 sq.ft. of leasable office space, private rooftop terrace and 25,900 sq.ft. of retail space on the ground floor. 

Shelby Rosenberg, Principal of R&B Realty Group, said, “This is one of the most important moments in the construction of a commercial project, especially as we are ahead of schedule amidst the pandemic. We are excited to see The Gateway at Wynwood is a step closer to reality. Our project will contribute to the transformation of Wynwood into a 15-minute city, where people can access their office, home, the grocery store, restaurants, and more within a 15-minute walk. We want to thank the city, the area’s stakeholders, our construction and design team, and all our partners for trusting us and helping The Gateway at Wynwood reach this important milestone.”

Plaza Construction is The Gateway’s general contractor and Kobi Karp is the architect. The 13-story building is estimated to be complete in the second half of 2021 and is currently ahead of schedule. 

"Despite the challenges that COVID-19 has posed across our industry, we are proud to have been able to reach this milestone on time and without incident,” said Brad Meltzer, president of Plaza Construction. "We prioritized the health and safety of all stakeholders with great success, and we look forward to continuing to deliver exemplary construction services to the South Florida market and beyond."

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

Stephen Rutchik, Colliers International Florida’s Executive Managing Director who handles office leasing for The Gateway at Wynwood said: “We are actively engaged with prospective tenants that are attracted to Wynwood because of its ‘live, work, play’ environment. This area has become a mecca for art, food, and entertainment just north of downtown Miami. While a few companies are hesitant to sign new leases just now, they do know exactly where they want to be … and that is Wynwood. We expect many of the deals in the pipeline for The Gateway at Wynwood will come to fruition as we get closer to completing the building later next year.”

The Gateway at Wynwood is located at 2916 N Miami Ave, a desirable location just a few minutes away from Downtown Miami, Aventura and Miami Beach. The area is also very close to Miami Internation Airport and PortMiami attracting many visitors and tourists all year round.

One Thousand Museum Residences by Zaha Hadid Architects Hits Over $100 Million Of Sales In 2020

One Thousand Museum, Miami's newest ultra-luxury condominium by the late Pritzker Prize-winning Zaha Hadid, has announced over $100 million in sales year-to-date. The building is defying market conditions, outpacing competitors across the city and on track for a record-setting year. The 62-story One Thousand Museum was developed by Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger and designed by Zaha Hadid Architects.

“We are thrilled that One Thousand Museum’s desirability continues to be recognized across the country, especially as now, more than ever, people are reevaluating where and how they live,” said Louis Birdman, co-developer of One Thousand Museum. “In addition to the flurry of interest from states impacted by the SALT tax, we’re seeing many of our new residents express priority over elements that only South Florida can offer, such as ocean views and access, ease of living, estate-style condos and competitive pricing.”

South Florida’s housing market has proven to be resilient, with ONE Sotheby’s Q2 Market Report forecasting sustained interest and activity into the latter half of the year due to pent-up demand and the migration of homeowners and companies relocating for tax and lifestyle benefits. These factors, coupled with the building’s unique attributes, striking design, privacy and security, single-family-sized floorplans and five-star amenities and services, are driving this unprecedented demand.

This sales milestone is accompanied by the release of the final collection of developer inventory priced from $4.95 to $20 million. Turn-key residences are currently on the market by leading designers and furnishing houses, including MORADA-Haute Furniture Boutique, Roche Bobois, Artefacto and Luxury Living Group. A duplex residence by BB Italia will come to market this fall 2020.

One Thousand Museum officially debuted August 2019 as one of the country’s most anticipated condominiums, with its striking exoskeleton instrumental to becoming the most iconic and identifiable tower in Downtown Miami. The building’s luxe lifestyle and exclusive amenities are among its most desirable attractions including a private rooftop helipad, making it Miami’s only residential building accessible via its own private airport. One Thousand Museum is also the first residential building in the world to partner with Forbes Travel Guide to create a hospitality-focused experience for residents and their guests on par with the finest hotel in the world.   

Additional amenities include a Sky Lounge for dining and private events; an on-premise bank vault; nearby private Beach Club, Museum Beach; access to a house car service, 1KM wellness center featuring state-of-the-art equipment by Techno-Gym, a Spa with relaxation pods and private treatment rooms for spa services and the Aquatic Center featuring an indoor lap-pool at the 61st Floor. 

ONE Sotheby’s International Realty Development Division is the exclusive listing agency for One Thousand Museum.

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