Terra And GFO Investments Deliver Tallest Tower in Miami Beach, Five Park Miami Beach

Miami Beach-In 2020, David Martin and Russell Galbut sat down to conceptualize a challenging yet coveted project—a parcel of land at Miami Beach’s entrance, primed for development. Driven by Terra’s commitment to resiliency and conscious design, the two developers envisioned Miami Beach’s tallest tower, featuring luxury residences, top-tier amenities and a public park designed to meet environmental and community goals. Now complete, Five Park Miami Beach, the first new luxury residential tower in Miami Beach in over a decade, delivers an unmatched product to a high-demand market, showcasing innovation and foresight while enhancing the city’s access to green spaces.

Initially proposed as a building occupying six to seven acres, the developers adapted the plan, reducing the tower’s footprint to two acres and dedicating the remaining acreage to green space. To gain additional height, they donated the adjacent three-acre Canopy Park, now open to the community.

Now complete and standing 48 stories tall at the entrance to South Beach, Five Park holds the title of the tallest tower in Miami Beach, serving as an iconic gateway to the highly coveted island community. The project showcases the elevated standard that only legacy developers can bring, conceptualized by a compilation of the greatest leaders and visionaries at every level.

“Five Park exemplifies our commitment to creating iconic developments that elevate urban living and help cities realize their full potential,” said David Martin, CEO of Terra. “This tower offers world-class amenities and exceptional design, while seamlessly integrating with Miami Beach’s cultural fabric and enhancing the area’s resiliency.”

A visionary design team of nearly a dozen icons, tastemakers, architects, designers and brands was assembled to create the most elevated residential experience from the inside and out. The team includes Arquitectonica, the lead architectural firm; New York-based firm Gabellini Sheppard for interiors; design maven Anda Andrei, who served as design director bringing her expertise from iconic projects including the Delano South Beach, Gramercy Park Hotel and more; Cultured Magazine’s Sarah Harrelson who led the art curation; and French conceptual artist Daniel Buren, whose works can be found in the Tate Modern, Palais Royal and Museum of Modern Art, for the iconic Canopy Bridge design. Interior designs for residences include models by Meyer Davis, RH, B&B Italia and Addison House.

“The design concept for the building combines every element of Miami Beach alongside a fusion of hospitality and residential features to create an incredible quality of life,” says Anda Andrei, design director of Five Park. “From the residents-only club to the landscape of the amenity deck that aim to create surprising new environments and stunning escapes at every turn, all components are creating an evolved living standard.”

Delivered in 2022, the three-acre Canopy Park serves as a “green lung” for the city, harmonizing with surrounding ecosystems and offering features like a botanical garden, interactive MONSTRUM playground, dog park, and event lawn. Designed with resilience in mind, the park includes varied topography for stormwater management, a “Dry River” bioswale system to filter rainwater, and a 25,000-gallon underground cistern for irrigation. Native plants promote biodiversity and habitat restoration, while salt-tolerant grass and a broad tree canopy enhance sustainability.

The Daniel Buren-designed Canopy Bridge, set to break ground this month, will offer pedestrian access via the 158-foot-long enclosed overhead artistic bridge connecting Five Park to the South of Fifth neighborhood for the first time.

“Five Park represents the dynamic evolution of Miami Beach," said Russell Galbut, Chairman of GFO Investments. "The tower, along with the Canopy Bridge pedestrian walkway to South of Fifth and Canopy Park, introduces a level of design and innovation that the neighborhood has not seen before. We are proud to collaborate with the city to bring these transformative experiences to our community.”

As the first tower to be delivered to Miami Beach in over a decade, it also presents a unique opportunity for brand-new, move-in-ready, luxury residences to the Miami Beach market. The advanced delivery compared to the rest of the activity for new residential development still in development, permitting or proposed phase demonstrates the developers’ unique foresight and capability to launch ahead of the rest of the market.

“Miami’s appeal grew stronger during the pandemic as families began putting greater emphasis on quality of life and more businesses embraced remote work,” said Martin. “Today, Miami is viewed as a desirable place to grow a business, raise a family and invest capital. All of this supports our thesis at Five Park, where our team of design, urban planning, and artistic visionaries are reimagining the idea of luxury living in Miami Beach.”

The tower has attracted a diverse demographic that reflects the growth of Miami’s evolving real estate landscape. Buyers for the project come predominantly from domestic markets, with strong interest from Northeastern cities such as New York, Connecticut and Boston.

Five Park Miami Beach offers 50,000 square feet of meticulously curated amenity spaces for its residents. At the heart of these amenities is The Park Club on the sixth floor, anchored by the Cafe Flora serving seasonal menus by James Beard award-winning chef Michelle Bernstein. Additionally, the amenity deck boasts a selection of pools with covered cabanas and loungers for poolside relaxation, all with sweeping city and bay views. Inside, residents can enjoy a variety of wellness, work and entertainment spaces, including a fully outfitted gym and spa, treatment rooms, a co-working area with private offices and board rooms, screening rooms and more. Residents also have their very own stretch of sand and sea with the tower’s branded beach club accessible via chauffeured Five Park Moke.

On the ground floor, residents have direct access to their backyard oasis, Canopy Park, offering a refuge from city living.

The move-in-ready residences at Five Park range from one to four bedrooms and start at $1.5 million. The tower’s unique elliptical form allows for 360-degree panoramic views of the city, beach and bay, maximizing natural light and providing residents with expansive floor plans and balconies that emphasize connectivity to the outdoors. Fully furnished model homes by RH, B&B Italia and Addison House are available for view and purchase for a turn-key experience.

Moss Construction successfully oversaw the tower’s construction, delivering the project on schedule. The firm has also recently begun work on Villa Miami, one of Terra’s latest projects in Edgewater, a luxury condo tower branded by Major Food Group as well as Jean-Georges Miami Tropic Residences in Midtown Miami.

Images via Five Park Miami Beach

For more information about Five Park Miami Beach or to inquire about purchasing a unit please fill out the form below:

Mondrian South Beach Celebrates Reopening Revealing $20 Million Renovation And Baia Beach Club

The Mondrian South Beach has reopened, revealing its $20 million renovation and Baia Beach Club. The 220-room hotel, which is located at 1100 West Ave. in Miami Beach, recently completed a complete renovation including lobby, pool area, gym, spa, restaurant, event space, common areas and guest rooms. The renovation was designed by Peter Oleck and Danny Cubes of OS Design Group. The Mondrian South Beach also revealed the Baia Beach Club, a members-only club located within the hotel which is overseen by LDV Hospitality. Baia Beach Club offers a new dining concept, multiple areas for dining and entertainment throughout, seaside cabanas and pavilions, boat dockage, access to a full-service wellness facility, a fitness center, curated programming, and exclusive member-only events.

“Since partnering with Russell Galbut, I knew this property deserved a complete makeover. As the audience of the hotel grows up, so should the property. Whether visiting as a Baia Beach Club member, dining at our bayfront restaurant or staying in one of our new guest rooms, Mondrian South Beach will be a new and exciting experience for all,” said Mondrian South Beach co-owner Michael Liebowitz, CEO and founder of Harbor Group Consulting.

The Mondrian South Beach was originally designed by Marcel Wanders and first opened in 2008. In December 2019 Michael Liebowitz acquired 50% of co-owner Russell Galbut’s stake in the hotel for an undisclosed amount.

Mondrian South Beach is one of five hotels worldwide carrying the Mondrian name, which as launched in 1996 by SBE. Other Mondrian hotels currently include Los Angeles, New York, Doha and Seoul, with future locations opening in Bordeaux and Cannes in 2021. In November 2020 Sam Nazarian’s sold the remainder of his 50% stake in SBE Entertainment Group to the Paris-based Accor, who had previously acquired an initial 50% stake in the company in 2018. The acquisition included a $300 million investment from Accor who will take ownership of all hotel operations including Mondrian, SLS and Delano hotel brands. Nazarian will focus on food and beverage operations through SBE’s Disruptive Restaurant Group.

Terra And Crescent Heights Break Ground On Canopy Park In South Beach

Terra and Crescent Heights, along with development partner New Valley, have broken ground on Canopy Park, located at the gateway to South Beach at after winning approval from the Miami Beach City Commission last year. The developers are building a three-acre public park, named Canopy Park, alongside a new residential tower at 500 Alton Road. Terra is led by David Martin and Crescent Heights is led by Russel Galbut, both longtime local Miami-based developers.

The three-acre park, located between the 600 and 700 blocks of Alton Road, will include open green-spaces shaded by native tree species, pedestrian and bike paths, an outdoor gym and dog run, a MONSTRUM-designed children’s playground, and public art displays. Canopy Park will be connected to the South of Fifth neighborhood and the Miami Beach baywalk via a new pedestrian bridge over I-395. The pedestrian bridge was designed by artist Daniel Buren and has been dubbed the Miami Beach Canopy. Construction of Miami Beach’s newest world-class city amenity is now underway, with completion estimated for Summer 2021. Canopy Park is located at the site of the former South Shore Hospital which the developers recently demolished.

“Canopy Park will be a gateway for the City of Miami Beach, a destination for visitors, and an everyday amenity for residents, so we’ve taken the time to assemble a team of design, art and planning visionaries who have led some of the most transformational projects in the world,” said David Martin, President of Terra. “The end result will be an active park and design experience that rivals public spaces in the world’s greatest cities.”

“World class cities and neighborhoods are defined by their public spaces, and Miami Beach is home to some of the most desirable parks and open spaces anywhere,” said City of Miami Beach Mayor Dan Gelber. “Our City’s newest public green space, Canopy Park, will quickly become a welcomed amenity for nearby residents and a favorite gathering spot for our entire community.”

The development team has enlisted an ensemble of artists, designers and architects who will bring the park to life, including architects Bernardo Fort-Brescia & Raymond Fort of Arquitectonica; landscape architect Laurinda Spear of ArquitectonicaGEO; design advisors Daniel Vasini of West 8, Anda Andrei of Anda Andrei Design, and Michael Gabellini and Kim Sheppard of Gabellini Sheppard Associates; and art advisor Lisa Austin. 

A major design component of Canopy Park will feature a “natural play” playground by Danish design firm MONSTRUM, which is famous for creating artistic and architectural playscapes around the world. Standout elements of the playground will include a giant butterfly, a mangrove forest and a caterpillar slide enabling children to jump, climb, balance, and express their inner imaginations.

The Miami Beach Canopy pedestrian bridge, subtitled Walking Under, Along, and On the Colors: work in-situ by Daniel Buren, will complete the Miami Beach Baywalk, creating a safe and seamless connection running from Southpointe Park north to the Lincoln Road District and east to the beachfront. The Canopy will become an instant icon for Miami Beach and a beloved work of public art that guides pedestrians along a rainbow of colorful shadows. Completion of the Miami Beach Canopy pedestrian bridge is anticipated for 2022.

Plans for Canopy Park also include an array of sustainability and resiliency features, including habitat restoration, vegetation, biodiversity, native plant communities, irrigation, water conservation and rainwater management. The park will also serve as an educational resource to inform and inspire the public about resilience and sustainability efforts being made by the city.

Check Out The Newly Released Video Of The 3 Acre Park Coming To Alton Road As Part Of Deal With Russell Galbut

Miami Beach has struck a deal with Crescent Heights co-founder Russell Galbut to bring a 3 acre park to Alton Road in exchange to allow Galbut to up-zone the old South Shore hospital site in South Beach. Commissioners approved a tower height increase to 519’, in exchange Galbut will fund and develop the 3 acre park which will be connected to the baywalk which wraps around South Pointe via a taxpayer funded pedestrian bridge. Galbut will have 6-months after the appeal periods to demolish the vacant South Shore Hospital and must complete the park within 8 years after the construction permit for the tower is issued. Should Galbut wish to flip the property he must retain 10% ownership. A subsequent hearing will take place in December.

Crescent Heights Proposes 60-Story Mixed-Use Project At 1370 NE 2nd Ave. In Downtown Miami

Crescent Heights is nearing a final agreement to bring a 60-story mixed-use project to 1370 NE 2nd Ave. The proposal is expected to bring 1,100 residential units split between condos and rentals, 100,000 SF of office space and 1,100 parking spaces. The office space will be used by Miami-Dade County Public School Board and 600 parking spaces to be dedicated to the Omni Community Redevelopment Agency. The proposal was designed by Perkins + Will and John Moriarity & Associates would be the general contractor. In March 2017 details surfaced that Crescent Heights had put a $64 million purchase value on the 1.13 acre site. The deal would represent $40 million in cash and $24 million in paid in-kind consideration. Crescent Heights is led by Chairman and CEO Sonny Kahn, Managing Principal Russell Galbut and principal Bruce Menin.