GENCOM RETAKES MAJORITY OWNERSHIP IN RITZ-CARLTON KEY BISCAYNE RESORT IN MIAMI

Affiliates of Gencom, an international owner, developer and manager of hospitality and residential properties, has retaken majority ownership in the 291-key Ritz-Carlton Key Biscayne. The transaction was financed by Citigroup and affiliates of KSL Capital Partners, LLC for an undisclosed amount.

Situated at 455 Grand Bay Drive, the 275,000-square-foot Ritz-Carlton resort rises over 13 stories on Miami’s barrier island of Key Biscayne. The upscale resort features 1,000 feet of beachfront access, along with several swimming pools, a Cliff Drysdale Tennis Center, Caribbean-inspired spa and fitness center, The Club Lounge, six restaurants, bars and cafes, as well as 37,000 square feet of meeting and event space. The property also boasts a luxury residential component with 188 condo-hotel units.

“The Ritz-Carlton Key Biscayne has become a hospitality anchor for Miami’s Village of Key Biscayne since Gencom co-developed the property in 2000 and we are excited to retake control of the asset for a long-term hold. We look forward to achieving the property’s full potential by embarking on a renovation to ensure it remains a top luxury resort as Miami’s international epicenter continues to expand,” said Karim Alibhai, founder of Gencom.

After developing the 17-acre property in 2000, Gencom sold its majority interest to a private REIT in a three property, $750 million transaction.

“KSL is very excited to lock arms with Gencom, who has an exceptional track record in this market and on resort assets like the Ritz-Carlton Key Biscayne," said Dan Rohan, Partner and Head of Tactical Opportunities at KSL. "This investment is another example of KSL's long-term commitment to its core thesis within the hospitality sector, but also our more recent expansion into structured partnerships with like-minded firms like Gencom through our Tactical Opportunities vehicle."

Gencom is planning a comprehensive $100 million renovation of the resort, slated to start in 2025, which will include major upgrades to the guestrooms, food & beverage offerings, public spaces and guest amenities.

The Ritz-Carlton Key Biscayne is part of Gencom’s illustrious branded hotel portfolio, which includes other Marriott Hotels brands such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Philadelphia; The St. Regis Chicago; Nekajui, a Ritz-Carlton Reserve, in addition to other five-star flags such as Auberge, Four Seasons, Rosewood, Fairmont, Hyatt, and more. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate, Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach Now Over 70% Sold

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach is now over 70% sold since sales launched on February 1, 2021. The sales represent 10 out of the 15 villas in the Collection with total sales volume over $68,390,000 for 10 the units under contract since sales launched February 1.

The Villas at The Ritz-Carlton Residences, Miami Beach are being developed by GFI Development Co. as the 3rd-party development manager on behalf of 4701 North Meridian LLC. and designed by the world-famous Italian architect Piero Lissoni. The Residences will be ultra-luxurious single-family waterfront homes with dockage. The homes are part of The Ritz-Carlton Residences located in Mid-Beach where the lake, ocean and waterway meet and just minutes from Downtown and South Beach.

The villas will be free-standing and two-stories tall for optimal privacy and space with interiors and exteriors fully designed by Piero Lissoni. Villas will range in size from three-bedrooms to five-bedrooms and feature a two-car garage, fenced yard, private infinity-edge pool and a landscaped waterfront.

The Villas share access to the Ritz-Carlton Residences, Miami Beach’s resort-style amenities including an art studio, 36 private boat slips, an on-site captained Frauscher day yacht, a half-acre rooftop pool deck with private cabanas, a poolside resident-only restaurant, a food forest community garden, a club room, waterfront social room and more. There will be a concierge service to help book beach access, the cinema-style screening room, fitness center, yoga room and meditation garden. The amenities are compliment of The Ritz-Carlton lifestyle of bespoke experiences with a high level of service known in the industry.

The Villa Collection at the Ritz-Carlton Residences are located at 4701 Meridian Avenue in Miami Beach. Pricing ranges starting from $4.375M. The project is exclusively marketing is by Douglas Elliman Development Marketing.

For more information about The Piero Lissoni Villa Collection At The Ritz-Carlton Residences, private showings or purchasing/ leasing information please fill out the form below:

The Piero Lissoni Villa Collection At The Ritz-Carlton Residences Breaks Ground And Launches Sales

The Piero Lissoni Villa Collection at The Ritz-Carlton Residences in Miami Beach has just broken ground and launched sales. Lionheart Capital affiliate 4701 North Meridian LLC sold the villas development site to GFI Development Co. and the world-famous Italian architect Piero Lissoni will design the homes. The Residences will be ultra-luxurious single-family waterfront homes with dockage. The homes are part of The Ritz-Carlton Residences located in Mid-Beach where  the lake, ocean and waterway meet and just minutes from Downtown and South Beach.

“We are delighted to launch this superlative collection of Villas in this new year filled with optimism,” said Jay Phillip Parker, CEO of Douglas Elliman’s Florida Brokerage. “Miami is benefitting from a tremendous wave of buyers looking to reestablish here and The Piero Lissoni Villas offer a unique product that blends the amenities, service and lifestyle of a condominium with the privacy and control of a single-family home. This is all coupled with the exceptional Ritz-Carlton tradition of unrivaled service and quality for owners in an extraordinarily quiet neighborhood.”

The villas will be free-standing and two-stories tall for optimal privacy and space with interiors and exteriors fully designed by Piero Lissoni. Villas will range in size from three-bedrooms to five-bedrooms and feature a two-car garage, fenced yard, private infinity-edge pool and a landscaped waterfront.

“In collaboration with award-winning Miami architecture firm Choeff Levy Fishman Architecture and Design, Lissoni has envisioned each residence as its own concept, and has thought through every space, whether indoors or outdoors, to perfection—opening up the landscape with dramatically framed views that lead the eye to landscaped gardens and beyond. Lissoni has connected The Villa Collection at The Ritz-Carlton Residences, Miami Beach  inside and out so seamlessly, you will hardly know where your home ends and the gardens begin,” said Andy Ashwal of GFI Development Company. “The world-class design, personal services, location, and amenities of these 15 villas add up to one extraordinary way of life for an exceptional few.”

The Villas will include resort-style amenities including an art studio, 36 private boat slips, an on-site captained Frauscher day yacht, a half-acre rooftop pool deck with private cabanas, a poolside resident-only restaurant, a food forest community garden, a club room, waterfront social room and more. There will be a concierge service to help book beach access, the cinema-style screening room, fitness center, yoga room and meditation garden. The amenities are compliment of The Ritz-Carlton lifestyle of bespoke experiences with a high level of service known in the industry.

The Villa Collection at the Ritz-Carlton Residences are located at 4701 Meridian Avenue in Miami Beach. Pricing ranges starting from $4.375M. Exclusive marketing is by Douglas Elliman Development Marketing

For more information about The Piero Lissoni Villa Collection At The Ritz-Carlton Residences, private showings or purchasing/ leasing information please fill out the form below:

Ritz-Carlton Residences, Miami Beach Reveals Renderings of Doo Architecture-Designed Penthouses

Ritz-Carlton Residences, Miami Beach has revealed new renderings of their penthouse units, designed by interior architect Alexis Cogul Lleonart, founder of Doo Architecture. There are 5 penthouses are available at the project which range in price from $8.8 million to $40 million duplex combination unit. The 2 penthouses which would combine to create the monster are priced at $20.625 million and $16.9 million.The featured penthouse has 10,000 SF of interior space and an additional 8,000 SF of balconies and terraces. Outdoors space features a hot tub and water feature sculpture in addition to a 6,000 SF rooftop terrace with an Exteta pergola and wet bar. Inside, the unit features 3 sepearte living areas that includes an interior topography space with a garden; a double-height library system that wraps around the main area; a 20' wine cave with a climate-control custom shelving system for 2,000 bottles and a jellyfish tank; an interior fire pit; and a private elevator leading to the roof.

The Ritz-Carlton Residences, Miami Beach is being developed by 4701 North Meridian, LLC, a partnership comprising of Lionheart Capital and Elliott Management Corporation. Lionheart Capital is a Miami-based real estate investment firm engaged in the investment, development and repositioning of Miami new construction and existing commercial, hospitality and residential assets. The Ritz-Carlton Residences, Miami Beach features 111 ultra-luxurious condominium residences that come in 1, 2, 3, 4 and 5-bedroom layouts and range from 1,700 SF to more than 10,000 SF; additionally, there are 15 private single-family villas. The project was designed by Italian architect Piero Lissoni, his first full-scale project in the United States, and sits on over 7.5 acres along 4701 Meridian Avenue. Amenities include 2, 24-hour attended lobbies, 24-hour valet parking services, a waterfront social room with bar and catering kitchen, and on-site private car to chauffer residents to surrounding destinations, a world-class pool and amenities deck with spacious cabanas and poolside grille, lush meditation garden, deeded boat slips on a private waterway, club room with a pool table and virtual golf, full-service spa, state-of-the-art fitness center, a first-of-its-kind art studio and a fully equipped kid's room. Ritz-Carlton Residences, Miami Beach is expected to be completed this winter, Q1 2018.

The Ritz-Carlton Residences, Sunny Isles Beach Releases Exclusive Drone Footage Showcasing Sleek Arquitectonica Design

The Ritz-Carlton Residences, Sunny Isles Beach has released exclusive drone footage showcasing the progress of the tower's construction and highlighting its unique Arquitectonica-designed shape. The luxury condo-tower, which is under development by Fortune International Group and Chateau Group and was designed by Arquitectonica with interiors by Michele Bönan. The Ritz-Carlton Residences, Sunny Isles Beach will rise 52-stories and feature 212 residential condo units. Units start at $2.5 million and include Caesarstone Quartz countertops and Gaggenau appliances. Amenities include a beachfront restaurant, concierge, personal chef service, fuel-delivery service and a private club on the 33rd floor for residents. Completion is expected in 2018. Check-out the these renderings of the project and these sneak preview video tours.

New Renderings Released of The Ritz-Carlton Residences Sunny Isles Beach

DBOX has released new renderings of the under-construction luxury-condo project, The Ritz-Carlton Residences Sunny Isles Beach. The 52-story project under, development by Fortune International Group and Château Group, broke ground in the summer of 2016 and is currently 65% sold. The building was designed by Arquitectonica, with interiors by Michele Bönan. The Ritz-Carlton Residences Sunny Isles Beach features 212 condo-units starting at $2.5 million. Units include Caesarstone Quartz countertops and Gaggenau appliances. Amenities include a beachfront restaurant, concierge, personal chef service, fuel-delivery service and a private club on the 33rd floor for residents. The full-floor 52nd story sold for $16.5 million, which features 6,320 SF over 4 bedrooms, 4.5 bathrooms, 15-foot ceilings and 2,095 SF of outdoor space complete with summer kitchen, private garden, infinity pool and breathtaking views of the Atlantic Ocean and Intracoastal. Two units on the 51st floor sold for a combined $21 million to a single buyer, placing 3 of the 5 penthouses under-contract. Completion is expected in 2018.

Ritz-Carlton Residences Penthouse Listed for $40 Million

The eight-bedroom penthouse of the Ritz-Carlton Residences has been listed at $40 million by Lionheart Capital as the building cruises towards a Q2 2017 completion. The units features over 12,300 SF of livable space along with two pools and two hot-tubs and 13,000 SF of outdoor space. The unit also features a wine tasting room and two summer kitchens. The unit can also be split into two with Penthouse 11 listed for $17 million and Penthouse 12 listed for $20 million. The raw space can also be purchased for $37 million.

Read our August Construction Update. 

Ritz-Carlton Residences Miami Beach Construction Update

The Ritz-Carlton Residences Miami Beach released some updates as they have completed the lobby and library. The stunning LEED Certified, 111 unit waterfront building located at 4701 North Meridian Avenue is under development by Lionheart Capital and designed by Lissoni Associati. The building is currently around 65% sold and plans are to to deliver in the Q1 2017. The lobby design pays tribute to the Seminole Tribe of Florida. Units range from 1, 2, 3, 4 and 5 bedroom layouts with 15 private single-family villas. Sizes range from 1,700 SF to more than 10,000 SF and $2.8 million to over $40 million. The Ritz-Carlton Residences Miami Beach will be one of the finest and most private residential buildings in Miami Beach.