Closings Begin At Privé at Island Estates In Aventura Despite Pending Litigation

Privé at Island Estates in Aventura has begun closings despite pending litigation. The luxury condo project has seen it all from a court ruling that a sidewalk built through homeowners properties as an easement was illegal to Dara Clarke, a resident whose property was used possibly used for the sidewalk, staging a sit-in that ended up in her and her husband driving a Porsche and BMW through freshly poured concrete and the couple ending up in jail. Privé at Island Estates is nearly 80% sold and has received a temporary certificate of approval (TCO) for the first tower with the second tower expected to receive its TCO soon. The towers first topped off in the fall of 2016. Privé at Island Estates features 160 luxury condo units with a total sellout of about $500 million. Pricing starts at $2.1 million and 2,585 SF. 

Privé at Island Estates is being developed by Gary Cohen and BH3. The 16-story, 2 tower project was designed by Sieger Suarez Architects with interiors by Steven G.The development offers five-star resort-style amenities with 70,000 SF of public space, including a 10,000 SF gym and spa in each tower, a full-circuit running path tracing the shoreline of the island, outdoor summer kitchens and dining terraces, a private jetty, 2 expansive lap pools, a poolside café, wine and cigar rooms, a tennis court, multiple pools, jacuzzis, and a private marina; all located on an 8 acre island.

Legal Drama Ramps Up at Privé a Court Rules Sidewalk Built Through Homeowners Properties As Easement is Illegal

The legal drama at Privé at Island Estates as Circuit Court Judge William Thomas has ruled that the sidewalk, built through homeowners’ properties, is illegal. Thomas ruled that the sidewalk, which was built as a "utility easement," is illegal and is trespass. The multi-year legal battle, which began in 2014, has pinned Aventura homeowners neighboring Privé against developers Gary Cohen and BH3. Privé features 2 luxury condo towers with 160-units situated on a private, 8-acre island located at 5000 Island Estates Drive. Delivery was expected in late November 2017 after the towers topped off at 16 stories in the fall of 2016. The towers are over 75% sold with over $350 million in sales. The legal drama began in 2013 when the neighboring Homeowners Associations sued the developers when construction began on the condo towers, claiming that they had agreed to only build single-family homes. A hearing will be set to determine the damages against the developers as homeowners move to have the sidewalk removed. Maxim Capital and Prophet Capital Asset Management financed the project with a $102 million loan, which added to a $25 million loan first provided by Maxim Capital. Tour the unit renderings from Privé at Island Estates Reserve Collection.  

Privé at Island Estates Powers Towards Completion With 3 Units Going Under Contract For $15 Million

Privé at Island Estates is reporting strong sales as the two luxury towers power towards completion and are just weeks until opening. 3 units, including a penthouse and a unit from the Reserve Collection B, have sold, totaling $15 million. The penthouse is part of the B Collection and spans 4,446 SF of interior space and over 2,500 SF of terrace. The unit features a private, 24' rooftop swimming pool and summer kitchen, 15' floor-to-ceiling glass offering panoramic views of Sunny Isles skyline, bay and ocean as well as a slip in Privé's private marina. Reserve Collection B residence spans 6,200 SF, a 130' long terrace and a 21' center kitchen island. 

Privé at Island Estates offers five-star resort-style amenities with 70,000 SF of public space, including a 10,000 SF gym and spa in each tower, a full-circuit running path tracing the shoreline of the island, outdoor summer kitchens and dining terraces, a private jetty, 2 expansive lap pools, a poolside café, wine and cigar rooms, a tennis court, multiple pools, jacuzzis, and a private marina. Privé at Island Estates is nearly 80% sold and is under development by BH3 development. The 16-story, 2 tower project was designed by Sieger Suarez Architects with interiors by Steven G. The towers topped off in the fall of 2016 and feature 160 luxury residences with pricing starting at $2.1 million. Enjoy the drone video tour of Privé's model unit and renderings below.