Turnberry Development In Partnership With Carlos Rosso Launch One Park Tower By Turnberry at SoLé Mia

Turnberry Development in partnership with Carlos Rosso has announced the launch of ONE Park Tower by Turnberry at SoLé Mia, a luxury condominium reimagined for the next generation. Set within the multi-billion dollar, 184-acre master-planned community of SoLé Mia in the heart of North Miami, the 32-story tower will deliver 303 bespoke residences overlooking a seven-acre Crystal Lagoon™ and surrounded by pristine natural landscapes, with access to a private beach, amenities created to offer residents a sophisticated lifestyle, and ocean views.

ONE Park Tower by Turnberry has been thoughtfully designed to offer resort-style, attainable luxury living for families seeking a walkable and connected community to call home. Envisioned by award-winning architecture firm Arquitectonica with interior design by globally recognized Meyer Davis, acclaimed landscape architect Enzo Enea will curate gardens that enhance the natural attributes of the location and encourage a connection to nature.

Owners can walk to SoLé Mia’s community parks and trails, retail and upscale restaurants. The SoLé Mia masterplan includes amenities that anticipate residents’ needs and foster wellbeing, anchored by a 225,000 sq. ft, 10-acre world-class University of Miami UHealth Medical Center currently under construction.

"Turnberry has always been at the forefront of neighborhood creation, bringing our legacy of excellence to build communities that cater to families and cultivate a strong sense of place—this is our vision with SoLé Mia,” said Jackie Soffer, Chairman & CEO of Turnberry Associates. “ONE Park Tower by Turnberry is for those who seek a luxury lifestyle surrounded by a community of family, friends, restaurants, retail, endless outdoor activities, and state of the art medical service.”

The centerpiece of the SoLé Mia community, a crystal-clear swimmable lagoon the size of 21 Olympic-sized pools, will provide ONE Park Tower by Turnberry residents a dedicated lagoon-front beach with umbrellas and beach chairs. Property staff will offer exceptional, individualized service for which Turnberry is known, including a Beach Concierge to arrange stand-up paddle boards and kayaks for rent and dining from The Lagoon Café and adjacent restaurants. ONE Park Tower by Turnberry’s healthy lifestyle includes a private swimming pool, pickleball courts, and a state-of-the art wellness center which includes fitness, spa and massage facilities. Residents will also enjoy co-working facilities, a library, private event rooms, a climate-controlled wine room and dedicated children’s playroom. A gated entry, 24-hour security and secured garage parking with electric charging stations complete the offering.

“South Florida lacks locations developed specifically for growing families and young professionals, and we intend to deliver just that,” said Carlos Rosso, Founder & CEO of Rosso Development. “There is an overwhelming demand for condos surrounded by all the incredible amenities this site has to offer–with everything you need at your fingertips. Complete with an intentional integration with nature and an array of incredible amenities, ONE Park Tower by Turnberry will cater to an up-and-coming group of buyers who are looking for real luxury at attainable price points. This property excites us because of the opportunity it will provide to Miami families to continue to flourish in the city they love, with the lifestyle they are accustomed to.”

Consisting of spacious one-, two-, and three-bedroom units, plus a collection of penthouses, floorplans feature dens and large powder rooms – and are designed to fit a range of lifestyles, with connectivity to the outdoors and panoramic views of the Crystal Lagoon, Oleta River State Park, Biscayne Bay, the Atlantic Ocean, and the Miami city skyline. Spanning from 900 square feet to 2,100 square feet, residence interiors intentionally blend the natural beauty of the site with the vibrancy of the surrounding urban atmosphere. High ceilings and walls of glass open up to oversized private wrap-around terraces with seamless glass railings. All units will be completely finished with porcelain floors, oversized master bedrooms and walk-in closets (closet upgrades will be offered), and master baths featuring wet rooms with shower and soaking tub.

"We rarely have the opportunity to design a building with open water views as a touchpoint from every unit and amenity. Whether it be your arrival experience, in the lobby, the gardens, or the Sunset pool, your eyes are always in contact with the water,” said Will Meyer of Meyer Davis. “Our design for ONE Park Tower by Turnberry is inspired to accentuate the beauty of the natural surroundings while offering functional luxury buyers are seeking.”

Fortune International Realty is the exclusive sales and marketing broker for ONE Park Tower by Turnberry.

For more information about One Park Tower by Turnberry, private showings or purchasing/ leasing information please fill out the form below:

Turnberry Associates Plans Arquitectonica-Designed Aventura Office Tower Two Turnberry

Turnberry Associates, led by Jackie Soffer, have submitted plans for Two Turnberry, an Arquitectonica-designed office tower in Aventura. The project would rise 14 stories and feature 240,000 square feet of office space, 20,000 square feet of retail and 720 parking spaces on a 3.37-acre site. Two Turnberry will have 8 floors of office space, each floor plate would average roughly 30,000 square feet. The retail space will feature a bank branch, the current property has a Citibank branch on-site.

Two Turnberry is located next to the Aventura Mall at 2750 NE 199th St. along US1/ West Dixie Highway near the future location of the Aventura Brightline Station and pedestrian walkway over US1 to the station. The Aventura Brightline Station is currently under construction with an expected completion in fall 2022.

Image via Turnberry Associates

Turnberry Associates and LeFrak Organization Lock Down $32 Million Construction Loan For SoLé Mia

Turnberry Associates, led by Jackie Soffer, and the LeFrak Organization, led by Richard LeFrak, have locked down a $32 million construction loan for the 187-unit Villa Solé at the $4 billion SoLé Mia mixed use masterplan in North Miami. The loan was provided by JP Morgan Chase Bank. Villa Solé is a 187 unit, 6-story multifamily building designed by MSA Architects with interiors by KDS Interiors. The building topped off Q1 2021 and is expected to be delivered Fall 2021. The developers have also planned another 190-unit multifamily building Villa Laguna.

In March 2019 the first residential tower at SoLé Mia, The Shoreline, was delivered. The SoLé Mia masterplan includes 12 towers, 500,00 SF of retail and commercial space, a 225,000 SF University of Miami Health Center, all anchored around South Florida’s first 7-acre Crystal Lagoon, Laguna Solé, at the $4 billion, 184-acre master-planned community, SoLé Mia. SoLé Mia will ultimately be a 183-acre master-planned community with the entire development expected to take over 10 years to complete. In total SoLé Mia will feature 4,300 residential units, retail, entertainment and recreation.

Fontainebleau Miami Beach Exits Special Servicing On $975 Million CMBS Loan

Jeffrey Soffer’s Fontainebleau Miami Beach has exited special servicing on its $975 million commercial mortgage-backed security loan (CMBS). When issued in November 2019, the loan was the largest CMBS hotel loan in South Florida. The loan entered special servicing on March 30 amid the onset of the COVID-19 pandemic and following a modification request. The loan was returned to its master servicer on September 23 and payments reportedly remained current throughout the special servicing period, although as part of a forbearance agreement monthly reserve payments have been deferred to 2021; additionally, the hotel’s 2020 financials will not be used when calculating the property’s debt yield.

CMBS loans, which are secured by a mortgage on a commercial real estate property, are among the hardest to restructure as under the typical CMBS structure. A loan is transferred into a CMBS pool and a Master Servicer administers the loan. The Master Servicer is generally not permitted to enter into a loan modification or restructuring agreement and a Special Servicer is needed to potentially modify or restructure an individual loan in a CMBS pool. When loans are in special servicing the borrower cannot take out new debt or refinance their property.

South Florida’s hotels have bit hit with some of the hardest economic impact from COVID-19 where the industry must meet nearly $4.2 billion in CMBS payments. Miami Beach hotels, motels and short-term rentals were ordered shut on March 23 and have laid off thousands of employees. Fontainebleau Development also owns the JW Marriott Turnberry Miami, Turnberry Isle Marina, Turnberry Ocean Club and The Big Easy Casino in Hallandale Beach.

The Fontainebleau Miami Beach opened in 1954 and was designed by architect Morris Lapidus. The property spans more than 15 acres with 11 pools, a 40,000 SF spa, and 12 different restaurants and bars including Hakkasan and LIV Nightclub. The hotel is made up of four towers including the Chateau and Versailles towers with 846 hotel rooms as well as the Tresor and Sorrento towers with 748 condo-hotel units. It was acquired by Turnberry Associates for $325 million in 2005.

Fontainebleau Miami Beach's $975 Million CMBS Loan Entered Special Servicing March 30

The $975 million commercial mortgage-backed security loan (CMBS) issued in November 2019 for the 846-room Fontainebleau Miami Beach, located at 4441 Collins Ave., entered special servicing on March 30. When issued the loan was the largest CMBS hotel loan in South Florida. Fontainebleau Development is reportedly in talks with its loan Master Servicer and Special Servicer to modify the loan terms and documents and was not behind on any payments. CMBS loans, which are secured by a mortgage on a commercial real estate property, are among the hardest to restructure as under the typical CMBS structure. A loan is transferred into a CMBS pool and a Master Servicer administers the loan. The Master Servicer is generally not permitted to enter into a loan modification or restructuring agreement and a Special Servicer is needed to potentially modify or restructure an individual loan in a CMBS pool. When loans are in special servicing the borrower cannot take out new debt or refinance their property.

South Florida’s hotels have bit hit with some of the hardest economic impact from COVID-19 where the industry must meet nearly $4.2 billion in CMBS payments. Miami Beach hotels, motels and short-term rentals were ordered shut on March 23 and have laid off thousands of employees. Fontainebleau Development also owns the JW Marriott Turnberry Miami, Turnberry Isle Marina, Turnberry Ocean Club and The Big Easy Casino in Hallandale Beach.

The Fontainebleau Miami Beach opened in 1954 and was designed by architect Morris Lapidus. The property spans more than 15 acres with 11 pools, a 40,000 SF spa, and 12 different restaurants and bars including Hakkasan and LIV Nightclub. The hotel is made up of four towers including the Chateau and Versailles towers with 846 hotel rooms as well as the Tresor and Sorrento towers with 748 condo-hotel units. It was first acquired by Turnberry Associates for $325 million in 2005.

Take A First Look Inside The Shoreline At LeFrak & Turnberry's Solé Mia Mega-Project

The Shoreline, Solé Mia’s first two residential towers, has revealed a first look at the completed project where move-ins have begun. Jointly designed by Miami-based Arquitectonica and Robert M. Swedroe Architects, the Shoreline consist of two 17-story towers with 397 rental residences with studios, one, two and three-bedroom layouts. The Shoreline overlooks Sunny Isles, Oleta State Park, Biscayne Bay and the Atlantic Ocean. Amenities include two residential lounges, fitness center, business center, automated package rooms, a pool deck with jacuzzi, and access to South Florida’s first 7-acre Crystal Lagoon, Laguna Solé, which is set to open this Spring 2019.

The Shoreline is the first two towers of what will be 12 towers, 500,00 SF of retail and commercial space, a 225,000 SF University of Miami Health Center, all anchored around South Florida’s first 7-acre Crystal Lagoon, Laguna Solé, at the $4B, 184-acre master-planned community, Solé Mia. Solé Mia will ultimately be a 183-acre master-planned community with the entire development expected to take over 10 years to complete. In total Solé Mia will feature 4,300 residential units, retail, entertainment and recreation. Solé Mia is being developed by the NY-based LeFrak in collaboration with the Miami-based Turnberry Associates led by Jeff Soffer.

Jeff Soffer's Lavish Turnberry Ocean Club Reveals Its Ultra-Luxe Amenities In Sunny Isles Beach

Turnberry Ocean Club, currently under construction in Sunny Isles Beach, has revealed new renderings of its ultra-luxe amenities as well as unveiled its new amenity, the in-residence hotel guest suites. Laid out just like a grand hotel suite at Turnberry Isle, residents of Turnberry Ocean Club have access to two complimentary guest suites within the tower that can be reserved in advance. They are the only residential tower to house complimentary guest suites for resident’s guests.

Other resort style amenities include sunrise and sunset infinity-edge pools, an on-property coffee café, three on-site upscale residents-only restaurants, game room, kids club, and kids room. On floors 30-32 will be a Sky Club which will offer private dining and event space with over 1,585 SF and an equally sizable terrace, flanked by a catering kitchen and capable of entertaining up to 150 guests. The Sky Club will also offer a cantilevering infinity-edge sunset pool, indoor and outdoor fitness centers, fine dinging, a sunset lounge, hydrotherapy, cabanas with ocean views, a salon, "sky theater" and a "pet retreat." On the beach residents have access to a full-service beach club with chairs, umbrellas, towels, refreshments, snacks, meals and libations from the pool bar and restaurant. There will also be beach cabanas with attendants. Buyers will also receive complimentary membership to Turnberry Isle Country Club with access to Tidal Cove. The state-of-the-art outdoor recreation area will add five-acres of pool deck to the resort with features that include a 60’ tower with seven water slides, a 4,000 SF kids pool with an aquatic play structure, and the first-ever FlowRider® Triple surf simulation pool in the nation.

When complete Turnberry Ocean Club will rise 649’ tall, 54-stories, and will offer 154 units. Units range from 2,900 SF to over 10,645 SF. Pricing ranges from $3.9 to $35 million with the higher-end of the scale consisting of duplexes that come complete with their own swimming pools and start at $19.5 million. Turnberry Ocean Club Residences is being developed by Beach Club Acquisitions LLC, an affiliate of Turnberry Associates led by Donald Soffer, Jeffrey Soffer, and Jackie Soffer. The building will be designed by Carlos Zapata and Robert Swedroe. The tower broke ground in November 2016 at 40% sold and construction is nearing halfway complete.

Check out the December 2018 construction update and new renderings below:

Residences

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

Soffers Aim To Expand Fontainbleau Aviation & Turnberrry Airport Holdings at Opa-Locka Executive Airport

The Soffer family is seeking a $5 million bond from Miami-Dade County’s Economic Development and Tourism Committee for expansion of Turnberry Airport Holdings at Opa-Locka Executive Airport. The bond would be used for a $28 million project that would renovate public infrastructure, including a 30,000-square-foot hanger and 57,000-square-foot executive and maintenance office for Fontainebleau Aviation. According to the South Florida Business Journal, the billionaire family currently leases 41.4 acres on site. In order to benefit from the taxpayer incentives, Turnberry would need to meet certain job creation requirements. The project is currently estimated to create 120 jobs and would increase the company’s revenue to $26 million in 2020 if the expansion is completed. 

Article by Katya Demina | Images by Turnberry Media & Fontainbleau Aviation

Turnberry Associates & LeFrak Close on $101 Million in Financing for SoLeMia in North Miami

Oleta Partners LLC, a partnership between real estate bigwigs LeFrak and Turnberry Associates, has secured a $101 million HUD-insured loan from Wells Fargo for their North Miami development SoLeMia. SoLeMia will ultimately be a 183-acre master-planned community around a 10-acre lagoon with beaches. The entire development will take over 10 years to complete and will feature 4,300 residential units, retail, entertainment and recreation.  The first phase of development will include 2 luxury apartment towers featuring 400 rental apartment units. The buildings will overlook Sunny Isles, Oleta State Park, Biscayne Bay and the Atlantic Ocean. Amenities include pool, rooftop deck/sky lounge, community rooms, a business center, a fitness center, and automated package rooms. The residences will reside next to a SoLēMia as a whole is planned to tally over 4,300 residential units and a town center, which will include shopping, dining, a hotel, and entertainment venues. The entire project is expected to take to a decade to complete.

A New Trader Joe's in Miami Beach Breaks Ground, Expected to Open Late 2018

Trader Joe's has broken ground on a new Miami Beach location located at 17th Street and West Avenue. The store is expected to to open in late 2018 and will be Trade Joe's first location on Miami Beach. The storefront will be part of a larger, 5-story project by Turnberry Associates and Elion Partners, which includes 28,000 SF of retail, residences including loft apartments and townhomes as well as 200 parking spaces. The building is being designed by Touzet Studio and Stantec.