Mid-Century Modern Condominium Ten30 South Beach Sells Out Before Completion

Miami-based developer Shoma Group is excited to announce that its exclusive, upscale condominium, Ten30 South Beach, has completed sales. Fortune Development Sales, the exclusive residential brokerage for the project, worked closely with Shoma Marketing to sell all 33 units of the four-story Miami Beach development. This sellout is a testament to the project's desirability and the current state of the real estate market. The development will open its doors to residents before the end of the year.

Shoma Group is led by Masoud Shojaee, president and chairman of the board, who has developed more than 10,000 residences and completed over $5 billion in real estate transactions. With 33 years of experience, Shojaee identified a void of moderately priced modern condominiums in the Miami Beach market and set out to develop Ten30 as a luxury retreat at an attainable price.

“The demand in the Miami market right now is incredible and we've seen tremendous buyer response to this project,” said Shojaee. “As a beautiful, boutique development in one of Miami's hottest neighborhoods, Ten30 South Beach offers residents an exclusive haven with top-notch amenities at a compelling price.”

Ten30 features a range of one- to three-bedroom residences and a collection of penthouses, ranging in size from 786 to 3,005 square feet priced from $566,000 to $1.9 million. Designed by Adriana Hoyos and Saladino Design Studio, the mid-century modern-style units feature Italian-designed chef-caliber kitchens, Samsung’s Family Hub refrigerator, and Bluetooth-enabled keyless entry and camera surveillance. Amenities include a 6,000-square-foot rooftop deck and rosé-colored pool, two fitness centers, a lounge, an outdoor kitchen area with a barbecue and yoga space.

In March, Shoma and Fortune International Group reported a record pace for Ten30 sales with 11 residences sold in just 15 days. Several buyers purchased multiple units with plans to combine them and update the floor plans to create larger units, which are in greater demand as many out-of-state buyers relocate to Miami.

“I am immensely proud of the Fortune Sales and Marketing teams for accomplishing sellout before completion,” said Edgardo Defortuna, president and CEO of Fortune International Group. “It was a great experience to work with Shoma and we look forward to collaborating on more projects in the future.”

By Katya Demina

Ten30 South Beach Debuts Sales Gallery In South Beach

Ten30 South Beach unveiled their sales gallery with a socially distanced open house. The event was hosted by Fortune Development Sales and welcomed about 75 brokers over two days. Guests were the first to see the project’s residences and refined finishes. Ten30 South Beach is developed by the Shoma Group and designed by Shoma Interior Design.

“We’re very pleased to welcome brokers and prospective buyers to experience Ten30 South Beach with our new sales gallery,” said Masoud Shojaee, President and CEO of Shoma Group. “Ten30 South Beach was designed with technology at the forefront, and as we near completion we’re excited to showcase this attractive proposition to the South Beach market firsthand.” 

The design of the building includes many high-tech finishes such as an Ecobee thermostat system, Bluetooth enabled keyless entry, and a smart refrigerator by Samsung. Residences are decorated mid-century modern and moderately priced starting at $498,900.

“The new sales gallery offers an up-close opportunity for buyers to see – and even feel – what it’s like to live in one of Ten30’s residences,” said Edgardo Defortuna, President and CEO of Fortune International Group. “The contemporary design and interactive features are overall reflections of the unparalleled lifestyle that will be offered as we introduce this unique development to Miami Beach.”

The sales gallery also debuted a full model kitchen featuring premium appliances. Once complete building amenities will include a 6,000 sq.ft. rooftop deck with an outdoor lounge and kitchen. The sales gallery of Ten30 South Beach is located at 1116 15th Street in Miami Beach and estimated to be complete in the beginning of 2021.

Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

South Florida developer Shoma Group has announced that they have closed on a $17.6 million construction loan for Ten30 South Beach. The loan was provided by New York-based ACRES Capital Corp.

“We are very proud to secure construction financing with ACRES Capital for Ten30 South Beach as we step closer to delivering this compelling project to Miami Beach,” said Masoud Shojaee, CEO of Shoma Group. “Especially in today’s current climate, this closing is an endorsement of the market appeal of Ten30 as we continue our forward momentum bringing this attractive proposition to the Miami Beach market.”

Already under construction, Ten30 South Beach is a moderately priced, yet elegantly designed luxury retreat away from the high-rise condominium projects that have priced domestic buyers out of South Beach. Rising four stories, Ten30 South Beach will offer a curated collection of just 43 condominiums including studios, one- and two-bedroom units with expansive terraces and stylish interiors priced from the $400,000’s with low association fees of less than $400 per month.

“It has been a pleasure to work with Masoud and his team throughout the iterations of this project to bring this unique offering to Miami Beach,” said Michael Horowitz, of Cooper Horowitz, who arranged the financing on behalf of Shoma Group. “ACRES Capital immediately recognized the niche in the market that this product would serve and efficiently pursued and concluded the financing despite the current economic climate. It was a collaborative effort from start to finish, and we look forward to watching this project succeed.”

The significant project milestone comes on the heels of the project’s recent financing program announcement, which hopes to make luxury more attainable to domestic buyers by lowering the initial deposit requirement to 15%. Current financing programs also make it possible for qualified domestic buyers to attain up to 97% financing with the excess of the 15% deposit amount being used to cover closing costs, pre-paid items and possibly a portion of the original deposit being refunded to the buyer at closing. For domestic buyers looking to make the move to an exclusive yet sometimes elusive beach address, this could put Miami Beach living within reach.

“The Ten30 South Beach project was an attractive origination opportunity due in part to its targeted segment of the highly desirable South Beach market,” said Mark Fogel, ACRES President and Chief Executive Officer. “Its attainable price point and low common charges for each unit will accommodate a variety of residents, including local buyers looking to buy their first home, empty-nesters that are downsizing or those relocating from states with higher taxes. This wide appeal is augmented by strong, local sponsorship in Shoma Group, which will ensure that the property’s business plan is adeptly executed.”

Exclusively marketed and sold by Fortune Development Sales, Ten30 South Beach includes a myriad of upscale amenities including an expansive 6,000 SF rooftop deck with a rosé-colored pool, lounge, and outdoor kitchen area complete with barbecue and yoga space. Residences come with covered parking. With state-of-the-art technology and high-end finishes, each residence will offer sophisticated technology, including the Samsung Family Hub refrigerator, which allows residents to send messages, order Uber rides, play music or see inside their fridge and browse the internet for recipes using available ingredients. Italian-designed chef caliber kitchens, Bluetooth enabled keyless entry with cameras that offer complete control through a homeowner’s mobile phone, and spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.

Ten30 offers residents the style and prestige of an exclusive address surrounded by premier shopping, dining and dazzling attractions of Miami Beach. The famed Lincoln Road shopping district is just minutes away as well as top dining experiences at Sunset Harbor. Ten30 is also conveniently located steps from Flamingo Park, where residents can enjoy several activities including a state-of-the-art aquatic center, Bark Park, baseball and football stadiums, basketball and racquetball courts, soccer and softball fields in addition to a tennis center and children’s playground.

For more information about Ten30, private showings or purchasing/ leasing information please fill out the form below:

Shoma Group Officially Breaks Ground On TEN30 South Beach

The Miami-based Shoma Group has officially celebrated the groundbreaking of Ten30 South Beach, a curated collection of 43 studio, one- and two-bedroom condominiums nestled in one of South Beach’s most vibrant neighborhoods. In a nod to the development’s name, the ceremonial groundbreaking was held on October 30 at 10:30 a.m. at the future site of Ten30 South Beach. The project’s development and sales teams, led by industry veterans Masoud Shojaee, CEO of Shoma Group and Edgardo Defortuna, President and CEO of Fortune International Group, hosted the event. Mike Saladino and David Muriel from the project’s architectural and interior design firm Saladino Design Studio were also in attendance as well as dozens of industry leaders, project partners, city officials and numerous other dignitaries.

Located at 1030 15th Street, Miami Beach and developed by Shoma Group, the project is poised to be South Beach’s ultimate gem located just steps from the Atlantic Ocean and the best of modern Miami Beach life. Once completed, Ten30 South beach will rise four stories and feature a sprawling 6,000 square-foot rooftop deck with a rosé-colored pool, lounge, and an outdoor kitchen area complete with barbecue and yoga space.

“We’re incredibly proud to officially break ground on Ten30 South Beach,” said Masoud Shojaee of Shoma Group. “A new standard for living in South Beach, we’re extremely pleased that Ten30 South Beach will provide residents with a premier living option just steps away from all that South Beach has to offer.”

With units ranging in size from 626 SF up to 1,196 SF and priced from the $400’s with low association fees of less than $400 per month, the project boasts state-of-the-art technology and high-end finishes. Spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.  Residences come with expansive terraces and covered parking.

“This is an exciting beginning to what will soon be an extraordinary addition to the vibrant South Beach neighborhood,” said Edgardo Defortuna of Fortune Development Sales. “We are grateful to Masoud Shojaee and the Shoma team for bringing this inspired project to South Beach and it is a privilege to manage their sales and marketing efforts.”

Shoma Group’s Ten30 South Beach To Break Ground October 30

Masoud Shojaee, President of Shoma Group, who over the past 31 years has developed more than 10,000 homes and condominiums, and completed over $4 billion in real estate transactions, believes the time is ripe for his new concept of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums. In a nod to the development’s name, Ten30 South Beach will break ground on Wednesday, October 30th at precisely 10:30 am.

“We saw a void in the marketplace for a project like this and believe the timing is ripe to introduce this curated collection of just 43 condominiums,” said Shojaee, one of Florida’s leading real estate developers whose vast portfolio of completed projects include the prestigious CityPlace Doral, The Flats, The Manor, Oasis Park Square and One Park Square at Doral. “There is nothing else like Ten30. We have an exceptional location in one of the hottest cities on the planet, and are offering a spectacular combination of modern design with a price point that is nothing short of compelling.”

Located at 1030 15th Street, Miami Beach, Ten30 South Beach will rise 4-stories and will offer studios, one- and two-bedroom units ranging in size from 626 SF  up to 1,196 SF. Designed by architectural and interior design firm Saladino Design Studio, Ten30 echoes the beauty of its surroundings. The building will be surrounded in greenery, natural woods and finished concrete throughout. The outdoor courtyard by the building’s entrance boasts a lounge area and a living green wall. Ten30 also will feature a sprawling 6,000 SF  rooftop deck with a rosé-colored pool, lounge, outdoor kitchen area complete with barbecue and yoga space. Residences come with expansive terraces and covered parking. The lobby interiors will showcase colorful, eclectic, Mid-Century stylish furniture and artwork. 

With state-of-the-art technology and high-end finishes, each residence will offer sophisticated technology, including the Samsung Family Hub refrigerator, which allows residents to send messages, order Uber rides, play music or see inside their fridge and browse the internet for recipes using available ingredients. Italian-designed chef caliber kitchens, Bluetooth enabled keyless entry with cameras that offer complete control through a homeowner’s mobile phone and spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.

“Ten30’s distinctive design will pay homage to Palm Springs and the Miami Beach of yesterday with a modern twist and a boutique oasis feel,” said Mike Saladino of Saladino Design Studios.

“We look forward to the materialization of this project and its aesthetic addition to the neighborhood,” added Sean Saladino of the namesake firm.

“This project is designed to ensure residents can experience all that South Beach has to offer,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Ten30 truly sets itself apart with an unparalleled location and luxurious design and is an ideal primary or secondary home. It is a privilege to manage their sales and marketing efforts.”

Pricing at Ten30 starts from the $400’s with low association fees of less than $400 per month and is being exclusively marketed and sold by Fortune Development Sales.

Shoma Group Breaks Ground On The Saladino Design Studios-Designed Ten30 Condo On Miami Beach

Shoma Group has recently broken ground on Ten30 condo in Miami Beach with interior design by Saladino Design Studios. Ten30 is located at 1030 15th Street in Miami Beach. When complete the project will rise 4-story, with 70,354 SF of total development and will feature 43 units and a 6,000 SF rooftop deck with a rosé-colored pool, lounge and outdoor yoga area. Ten30 residences offers studios, one- and two-bedroom units ranging in size from 626 SF up to 1,196 SF. All units have covered parking and balconies and some have a spiral staircase that leads to a private terrace. Pricing starts in the $400,000’s.

“We’re creating a unique residential experience that combines Mid-Century Palm Springs, industrial New York City and tropical Miami,” said Sean Saladino, co-founder, Saladino Design Studios. “When completed, Ten30 will be an oasis in this highly coveted quiet part of South Beach.”

 For Ten30, Saladino Design Studios is designing all the common areas including the lobby, lounge, outdoor areas, unit corridors and rooftop deck. The building will be engulfed in greenery, natural woods and finished concrete throughout. The outdoor courtyard by the building’s entrance will have a lounge area and a living green wall. The lobby interiors will boast colorful, eclectic, Mid-Century stylish furniture and artwork that’s set against the more industrial brick walls and custom wood ceiling paneling. The 6,000 SF rooftop deck will feature a rosé-colored pool with teak wood pergola and an outdoor yoga area surrounded by cacti and lush greenery. A quaint lounge next to the pool is surrounded by windows with minimalist furnishings and concrete panels.

“We came across one of Saladino Design Studios’ residential interior design projects in Midtown Miami and immediately thought that they were the right fit for Ten30,” said Shoma Group President Masoud Shojaee. “We liked their energy, creativity and style and the design vision they’re bringing to the project is unpretentious yet elegant and inviting.”

Ten30 is expected to be completed in late 2020.