PROFILEmiami’s Top 5 Of 2017

It’s that time of year again. While most of the United States is stuck in a New Years icebox, the sun is shining bright on Miami. 2017 was a big year for Miami real estate as towers such as One Thousand Museum and  Panorama Tower reached for the sky, pushing Miami’s skyline to new heights while others such as Grove at Grand Bay and Brickell Heights officially opened their doors to residents. The luxury residential market also saw a huge year as many of Miami’s most lavish and exclusive estates hit the market and traded hands for record breaking prices. Here is PROFILEmiami’s Top 5 Moments from 2017:

1. Zaha Hadid's One Thousand Museum Reveals Artefacto Designed Preview Residence 

In November, the Zaha Hadid-designed One Thousand Museum revealed the first look at their uber-luxe "preview residence" furnished by Miami-based Brazilian furnishing brand, Artefacto and designed by Joao Armentano. Artefacto outfitted the fully-built out 17th floor's interiors, fusing Zaha’s futuristic aesthetic with the brand’s signature Brazilian approach to contemporary design. Paulo Bacchi, President and CEO of Artefacto, hand selected items from the brand’s newest collection, which hit showrooms last summer in celebration of their 15th anniversary. The 4,635 SF residence features 4 bedrooms and 5 bathrooms with a half-bath. The unit features elegant and timeless warm tones and clean lines to complement the building’s curvaceous architecture, floor-to-ceiling windows overlooking the bay and Museum Park, and an impressive art collection curated by Sarah Jane Bruce (SJB Fine Art Services) and Flavia Masetto (Flavia Masetto Fine Arts). Once completed the residence sold within days for $6.8 million. Tour the lavish residence here. 

2. Fly Through A Choeff Levy Fischman Designed Palm Island Mansion With A 15’ Waterfall 

Palm Island was hot with news through 2017 including 280 South Coconut Lane on Palm Island hitting the market for $10.8 million and Birdman’s estate falling into bankruptcy, but at PROFILEmiami we have to give the cake to the Choeff Levy Fischman-designed 73 Pam Avenue. 73 Palm Avenue is a 13,676 SF waterfront villa that features 9 bedrooms, 10 bathrooms and 1 powder room. The two-story contemporary also features a private rooftop terrace, disappearing sliding glass doors to optimize indoor/ outdoor living, 15' cascading water feature that empties into a reflecting pond with large stepping-stones creates a floating illusion and greets guests at the home’s main entrance, a statuesque three-story staircase, LED lighting, custom Italian kitchen, Crestron automated smart home, home theater, wine cellar, fully furnished throughout with Minotti, Poliform and other fine furnishings, 4-car garage suites and an elevator. Outdoors, the home features a 2,500 SF roof top terrace with summer kitchen, oversized infinity-edge pool, a secluded hot tub off the master bedroom terrace and 100' waterfront frontage. The home was designed around the giant Banyan tree located near the water in the backyard. 73 Palm Ave. is currently listed for $29,500,000 with Mirce Curkoski and Albert Justo of One Sotheby's International Realty. Tour the spectacular estate here. 

3. PROFILE Exclusive: Inside One Thousand Museum with Louis Birdman, Co-Developer Behind The Uber-Lux, Zaha Hadid-Designed Futuristic Tower

In August PROFILEmiami had the exclusive opportunity to sit down with Louis Birdman, one of the co-developers behind One Thousand Museum by Zaha Hadid Architects, to discuss the futuristic, ultra-luxury, condo tower. Louis tackles everything from working with legendary architect Zaha Hadid, to tackling the luxury market and the unique GFRC exoskeleton design that makes up the tower's unique, skyline changing, iconic design. Take a look inside the mind of one of the masterminds transforming Downtown Miami into a vibrant, modern, world-class city center.

PM: No developer had touched creating ultra-luxury in downtown Miami up until this point. What made you guys say let's be the first?

LB: When we started to see the market coming back. There was a period of time when the market imploded. It wasn’t just a Miami issue, it was a global banking issue. The first real estate market that started to rebound was New York, and shortly thereafter came Miami. The profile of buyers changed dramatically from the last peak in the market, where it was a highly speculative market that lots of investors highly leveraged. This time around, the buyers for condo products, particularly in Miami, were more focused on luxury. They were investors, but they were also end users. With a large flow of capital domestically and in Latin America, Miami has been one of the places that people look to invest in real estate. Continue reading the exclusive interview here. 

4. PROFILE Exclusive: Transforming Coconut Grove with David Martin of Terra

In March PROFILEmiami had the exclusive opportunity to sit down with David Martin, one of the founders of Terra and the mastermind behind Park Grove and Grove at Grand Bay. Find out how he is helping transform Coconut Grove into one of Miami's hottest neighborhoods.

PM: You guys have been integral in transforming Coconut Grove. What do you think of the recent new developments in Coconut Grove and the new energy they have brought?

DM: I think it is about time. I think that the world and the city is realizing a lot of the amazing assets thats Coconut Grove has. It has amazing parks, amazing schools, amazing people. Geographically it is strategically located to a lot of different other neighborhoods as well. Now with the Grove at Grand Bay project that we did, it was big, and now Park Grove with Related, I think that this is developing into a neighborhood with new architecture as well as with some of the old Florida architecture as well. It has a good diversity and design and I think that there is a lot of new restaurants that are coming and a lot of new retail. Coconut Grove is a neighborhood that has a lot of components but it is very quite and peaceful. That quiet innocence is what people are looking for to raise their families, or spend time with their families. A lot of our buyers are empty nesters so they're looking for urbanism and walkability so that tree canopy here and walkability is very important as well. Continue reading the exclusive interview here.

5. Inside PROFILEmiami’s Five Star Stay at The Residences at W Fort Lauderdale

In September PROFILEmiami had the exclusive opportunity to stay at W Residences Fort Lauderdale, located directly on Fort Lauderdale's pristine beaches and the Atlantic Ocean. After a $60 million renovation overseen by Related Companies and Meyer Davis Studio, W Fort Lauderdale is one of the finest options on Fort Lauderdale's seaside A1A strip. The two-tower property features luxurious, nautical private condominium residences and hotel, all with direct ocean views. W Fort Lauderdale’s five-star amenities and services feature a high-end beach club, full-service pools, multiple restaurants and eateries, spa, fitness center, nightlife and full-service staff. Buyers at W Residences Fort Lauderdale are investing in the brand’s lifestyle offerings. They can enjoy the quality service, amenities and hospitality that W Hotels are internationally known for. Whether you are looking for a beachside weekend escape, full-time residence, part-time residence or rental-income property, W Residences Fort Lauderdale is a prime beachfront option. Read PROFILEmiami’s full review of our five-star stay here. 

Inside PROFILEmiami's Five Star Stay at The Residences at W Fort Lauderdale

W Fort Lauderdale Hotel & Residences

PROFILEmiami had the exclusive opportunity to stay at W Residences Fort Lauderdale, located directly on Fort Lauderdale's pristine beaches and the Atlantic Ocean. After a $60 million renovation overseen by Related Companies and Meyer Davis Studio, W Fort Lauderdale is one of the finest options on Fort Lauderdale's seaside A1A strip. The two-tower property features luxurious, nautical private condominium residences and hotel, all with direct ocean views. W Fort Lauderdale’s five-star amenities and services feature a high-end beach club, full-service pools, multiple restaurants and eateries, spa, fitness center, nightlife and full-service staff. Buyers at W Residences Fort Lauderdale are investing in the brand’s lifestyle offerings. They can enjoy the quality service, amenities and hospitality that W Hotels are internationally known for. Whether you are looking for a beachside weekend escape, full-time residence, part-time residence or rental-income property, W Residences Fort Lauderdale is a prime beachfront option. 

Living Room, Bliss Spa, WET Deck, Service & Amenities

W Fort Lauderdale features a slew of five-star amenities and services that will help you expand your living experience and keep your mind relaxed. Living Room, W Fort Lauderdale’s main lounge is the perfect place to gather to meet friends for drinks or enjoy one of the events hosted nightly on property. Living Room features a bar with creative drinks and bites as well as a Sushi Bar. The inside showcases Meyer Davis’ nautical designs and the outside features a sweeping deck with views of the Atlantic Ocean and A1A. 

There is no shortage of wellness amenities on the property whether it be the Bliss Spa, yoga classes, or fitness center, W Fort Lauderdale has it all. Bliss Spa will give you a relaxing, luxurious escape to kick back and let your worries escape you. We tried the deep tissue massage which was quite relaxing. The masseuse was professional and experienced in her craft. The staff throughout the spa was extremely professional and it was kept ultra-clean. Definitely worth stopping by for a massage, facial, nails, or any other treatment you could need.  

You will quickly realize that there is just simply nowhere better to spend your days in Fort Lauderdale than in the sun. W Fort Lauderdale gives residents two pool options, the WET Deck, which is the main pool on the hotel side of the property, as well as a toned down version on the residences side which offers a slightly quieter, more relaxing experience. The main pool is an architectural masterpiece though, allowing you to walk-up from the lobby and emerge from the lower hotel onto the pool deck by walking through a unique staircase that flows through the pool. Poolside is buzzing with action complete with a DJ and full-service staff that will get you anything you need from the WET Deck Bites Menu or the bar. The entire deck overlooks A1A and the Atlantic Ocean, seamlessly blending your poolside experience with the beach to create an unparalleled experience. 

Rooms & Residences

Designed by Meyer Davis, the private residences and hotel rooms at W Fort Lauderdale are some of the finest beachside turn-key options you will find. The property provides both luxurious hotel rooms, which are located in the east tower, as well as private residences, which are large suites located in the west tower. The condominium units can be occupied full-time or rented out as part of the Starwood-managed hotel program. All of the units feature ocean views. The units are spacious with furnishings curated by Meyer Davis to exude nautical vibes with sailing rope and knots, wood, gold, whites, blues, etc. which connect the building's style with the amazing views of the Atlantic Ocean. Units also feature furnished balconies that feature views of the Atlantic Ocean, Fort Lauderdale skyline and Intracoastal Waterway. 

The unit we experienced was a two-bedroom Residence suite on the south side of the building and it was stunning. The entryway opened into the living room and kitchen with an island. The living room had its own private balcony which was flanked by a dining room, also with its own private balcony. Each bedroom had an ensuite, as well as a private balcony. The unit was definitely large and luxurious to be used full-time. The excellent thing about owning a W Residence is that you have the Starwood Hotel Program at your fingertips. One of the highlights of the stay was definitely the views, which sweep from the Atlantic Ocean, over to the Intracoastal Waterway and Fort Lauderdale Skyline. This unique exposure allowed us to enjoy both the sunrise and sunset over water, a rare feature that is a gem to enjoy. Not only did the furnished balconies allow us to enjoy the southern exposure, but also the floor-to-ceiling glass which allows spectacular views from every room, including the kitchen. The floor-to-ceiling glass sliders seamlessly blend indoor and outdoor living. From the living room and bedrooms you can open the glass sliders all the way to bring the “balcony inside.”

Restaurants

Sushi Bar

Located in the Living Room, there is essentially no better spot to grab a quick bite or appetizer with the ultimate easy-come, easy-go set-up. The Sushi Bar is the brainchild of Sushi Chef Shuji Hiyakawa, a protégé of Iron Chef Masaharu Morimoto. The highly skilled chefs will make whatever you want to order and with extremely fresh fish for bite-sized treats with explosive flavor. Try the nigiri or sashimi to order or go for the Tuna Tataki and Yellowtail Jalapeno or King Crab California and Steamed Lobster with creamy avocado.

Steak954

Steak 954 has the familiar dark, intimate interior of a steakhouse, complete with an illuminating wall that serves as a jellyfish tank. A light ocean breeze flows through the rooms as guests walk in and out onto the beachside terrace. The 7-year-old eatery is owned by famed restaurateur Stephen Starr and features prime cuts and American Wagyu. Steak 954 broils their beef at 1,700 degrees, which is then brushed with clarified butter. Despite the expert focus on beef, Steak 954 has lots of fish alternatives as well. 

We dined on a Saturday night and were seated promptly at a candlelit table. Fresh gruyere cheese and chive popovers were brought out, still steaming. Our waiter guided us thoroughly through the menu and his service was polished and professional the entire night. For appetizers, we shared the Jumbo Lump Crab Cake ($19) and Lobster Bisque ($14). The crab cake was tender, not too fried, and was accompanied well by the apple slaw and tartar sauce. The lobster bisque was made with fresh creme fraiche and was smooth and creamy. For the main course, we had the Miso Black Cod ($39) and 22 oz. Prime Dry Aged Bone-In Ribeye ($57). The cod was an expert example of a perfectly poached, meaty piece of fish. It was served with maitake mushrooms and bok choy, swimming in a dashi broth. The ribeye was absolutely amazing, served with pickled onions and a side of béarnaise sauce. Cooked to perfection with tons of flavor, just like the name of the restaurant, if you are in the mood for steak, you will be impressed. For dessert, Steak 954 has had top pastry chef Sarah Magoon preparing her signature dishes like Key lime baked Alaska and ice cream sandwiches since opening its doors. We opted to try the ice cream sandwich trio. The sandwiches came sliced in half, easy for sharing. The brownie-mint stood out. Steak 954 was a great place to spend an evening out in Fort Lauderdale and will not disappoint no matter what your party chooses from the menu. 

Explore Related Group, Related Companies & Meyer Davis Studio's $60 million renovation of W Fort Lauderdale. 

Check-Out our PROFILE Exclusive Interview: Exploring W Fort Lauderdale & The Fast Growth of Fort Lauderdale Beach with ISG Principal Craig Studnicky

Featured Listing: Elevate Your Life With a Beachside Residence In The Newly Redesigned W Fort Lauderdale

Fort Lauderdale Beach has been hot, with over $1.5 billion of new development in the area over the past 3 years. One of the most iconic hotels on the A1A strip is W Fort Lauderdale Hotel & Residences which recently underwent a $60 million renovation. Residence 802 features everything that you could want in a turn-key beachfront condo. The residence features 2 bedrooms, 2 bathrooms and a den spread over 1,463 SF. The unit also includes 9' floor-to-ceiling glass for immaculate views of the Atlantic Ocean and Intracoastal, spacious balconies, and turn-key design and furnishings from the hot Meyer Davis Studio who headed up the $55 million renovation of the property overseen by Related Group and Related Companies. Meyer Davis took a nautical theme in the redesign with sailing rope and knots, wood, gold, blues, etc. which connects the hotel's style with the amazing views of the Atlantic Ocean throughout the property. Residences also have access to the hotel's redesigned amenities including pool with sundeck overlooking the Atlantic Ocean, beach club, updated porte cochère, Bliss Spa, WET pool deck, Sushi Bar, a concept from Sushi Chef Shuji Hiyakawa, a protégé of Iron Chef Masaharu Morimoto; The Living Room indoor/outdoor lounge and terrace, 2 Stephen Starr restaurants including Steak 954, and 40,000 SF of meeting and event spaces. 

Condo-hotel residences have the unique ability to be put into the Starwood Hotel Program which allows the residence to perform higher returns through higher income short-term rentals with the management expertise and ease of Starwood. "Most of the people who buy at the W use their condo as a combination of a second home and rental property. When owners are not in town, they sign a management contract with Starwood and Starwood manages the unit as a “hotel residence” which generates income for the owner," explained Craig Studnicky in an exclusive interview with PROFILEmiami. When you are out of town, your residence in W Fort Lauderdale will be producing income for you while taking none of your time or effort. The perfect second home or income investment you can enjoy yourself as well. 3101 Bayshore Drive Residence 802 is currently listed for $1,080,000 with Related ISG.

Explore Related Group, Related Companies & Meyer Davis Studio's $60 million renovation of W Fort Lauderdale. 

PROFILE Exclusive: Exploring W Fort Lauderdale & The Fast Growth of Fort Lauderdale Beach with ISG Principal Craig Studnicky

PROFILEmiami had the exclusive opportunity to sit down with Craig Studnicky, Principal and Co-Founder of ISG Realty and leads sales at The Residences at W Fort Lauderdale. Take a look inside Related Group and Related Companies $60 million renovation of the iconic property and find out how the Fort Lauderdale Beach real estate market is on the move.

PM: Fort Lauderdale and Fort Lauderdale Beach have seen an influx of high-end condo and hotel developments in recent years. What sets The Residences at W Fort Lauderdale apart?

CS: The W Fort Lauderdale was completed in 2009. It was designed and developed as part hotel and part condo, essentially a condo hotel. A lot of the developments on the ocean in Fort Lauderdale, like Auberge and Paramount, are being developed for the end-user. Auberge and Paramount have typical rental restrictions for end-user condominiums. The Residences at W Fort Lauderdale, by contrast, has the ability to be rented short-term. The original developer designed the W as two towers, with the hotel in the east tower, and the condo residences in the west tower. 

What really sets The Residences at W Fort Lauderdale apart is the flexible use of the units. You can buy a unit as a second home and never rent it, buy it as your permanent residence and live there year-round, or you can buy it as a combination second home and rental property. Most of the people who buy at the W use their condo as a combination of a second home and rental property. When owners are not in town, they sign a management contract with Starwood and Starwood manages the unit as a “hotel residence” which generates income for the owner.

W Fort Lauderdale was acquired by Related in 2014. Related has developed more than 80,000 condos over the past thirty years, and are clearly the largest condo developer in the U.S. After taking ownership, Related decided to do a $60 million renovation to the entire property. The W, Starwood and Related agreed to use New York-based design firm Meyer Davis to head up the redesign. Meyer Davis has also been hired by Related for Auberge Beach Residences & Spa, the Paraiso Bay Beach Club in Edgewater, Park Grove in Coconut Grove and 1 Hotel & Homes in South Beach.  

PM: Do you see a need for more hotel branded residences in Fort Lauderdale?

CS: Absolutely. We are welcoming the Four Seasons, just two blocks north of the W, which promised to break ground this fall. The Four Seasons is the most recent addition to the high-end branded residences in the area, including W Fort Lauderdale and Ritz-Carlton.

PM: So, you guys were selling strong when a lot of other projects were slowing down?

CS: We are selling strong because Fort Lauderdale Beach is selling strong. The pricing gap between oceanfront properties in Miami Beach vs. oceanfront properties in Fort Lauderdale Beach has never been greater, and developers and buyers from around the world have noticed. Historically, the price difference from Miami Beach to Fort Lauderdale Beach has been about 25 to 30 percent, with Miami always getting the premium. Today, Miami Beach is about 200 percent more expensive than Fort Lauderdale Beach.  

In the last three years, $1.5 billion in new development has taken place in Fort Lauderdale, 70 percent of which has already been sold. 

PM: Where do you see most of the buyers coming from? Are there a lot of New Englander’s and New Yorkers who want a second home and like the supplemental income and the ability to show up with their golf clubs?

CS: The United States is the number one market for The Residences at W Fort Lauderdale. The overwhelming majority of buyers are from the northeast, including New York, Boston, Philadelphia, Washington D.C., Chicago but also Canada, Toronto and Montreal. The next market after that is Brazil. Brazilians have discovered Fort Lauderdale and the price difference between Miami Beach and Fort Lauderdale is very appealing to them. They love the beach, and the beach in front of the W is the nicest beach in Fort Lauderdale. Even though the dollar is high, they love the idea of buying into a condo hotel because they get their rental income in U.S. dollars, which is valuable for Brazilians. 

PM: So how did you start to connect with Chinese buyers?

CS: I have owned my company for 25 years and we have done lots of work for developers, but I can honestly say, this is the first time I have ever sold to Chinese buyers. About 18 months ago, I started a division called ISG Asia and currently have 20 Mandarin-speaking agents working with me. A majority of China has not been exposed to South Florida and needs a lot of education on what Florida is and the different markets it includes. They are starting to discover South Florida and interest is rising because Florida is a bargain compared to pricing in Los Angeles, New York and San Francisco. The Chinese are only investing so far, mostly looking for income-producing properties. Of all of the properties I show them, The Residences at W Fort Lauderdale is one that they like the most because of its brand. 

When President Xi visited President Donald Trump at Mar-A-Lago in Palm Beach in April, travel websites from China were completely sold out of availability for Florida. The visit was really big for Florida real estate in terms of introducing Florida to the biggest country in the world. By the end of 2017, we are supposed to have a non-stop flight from Tokyo, and by the end of 2018, we are supposed to have non-stop flights from Beijing and Singapore, which will be a real game changer for South Florida real estate. 

PM: Can they move money freely out of China? How easy is it for them to invest their capital in the United States? 

CS: Currently there is a $50,000 restriction per individual on foreign investments annually, which is a challenge. There are ways of getting around it, but it is very challenging. The Chinese government is watching them very closely at the moment. 

PM: What else does Related Group and Related Companies have in store for Fort Lauderdale Beach?

CS: I think you will see Related develop more high-end condos like Auberge Beach Residences & Spa. The value difference between Miami Beach and Fort Lauderdale Beach makes this Fort Lauderdale’s time.

About Craig Studnicky:

Craig Studnicky is a principal of International Sales Group, ISG, and has been a real estate broker for more than 25 years. Studnicky began his career in New York City as a sales associate in residential real estate for JPS Associates. In 1984, he founded Steven Craig Realty in Atlantic City  where his firm became Atlantic City’s leader in real estate, cornering two thirds of the market. In 1992, Studnicky relocated to Florida to work as Director of Sales for Country Club Estates in Aventura from 1992 to 1994. In partnership with Philip J. Spiegelman, he co-founded International Sales Group. Under Studnickys’ leadership, ISG maintains the areas top-producing sales force who have posted record real estate sales. Studnicky is a licensed real estate broker in states of New Jersey and Florida. He holds a degree from Virginia Tech.

Take our tour of Related Group & Related Companies' $60 million renovation of W Fort Lauderdale HERE

Inside Related's $55 Million Renovation of W Fort Lauderdale by Meyer Davis Studio

Related Group and Related Companies have nearly completed a $55 million renovation on W Fort Lauderdale, a hotel/ hotel-condo on Fort Lauderdale Beach under the watchful eye of Meyer Davis Studio. W Fort Lauderdale was developed as a joint venture between Related Group and Related Companies and the 2 tower development features both oceanfront hotel suites rooms and condo-hotel residences which are for sale and can be put into the Starwood Hotel Program. All of the amenity and public spaces as well as the rooms were redesigned by the New York-based design firm Meyer Davis Studio. Meyer Davis took a nautical theme in the redesign with sailing rope and knots, wood, gold, blues, etc. which connects the hotel's style with the amazing views of the Atlantic Ocean throughout the property. Redesigned amenities include updated porte cochère, Bliss Spa, WET pool deck, Sushi Bar, a concept from Sushi Chef Shuji Hiyakawa, a protégé of Iron Chef Masaharu Morimoto; The Living Room indoor/outdoor lounge and terrace, 2 Stephen Starr restaurants including Steak 954, 40,000 SF of meeting and event spaces. The renovations are in the final homestretch and are expected to be completed in the fall.