Ytech Acquires 1500 Brickell, One Of The Last Remaining Historic Estates On Brickell Avenue

Miami-based real estate development and investment firm Ytech have acquired a historic mansion located at 1500 Brickell Avenue. Ytech is completing a multi-million dollar restoration and renovation of the property which is slated for completion by Q1 2023. The property joins Ytech’s ownership portfolio of prime addresses in Brickell including 1428 Brickell Avenue, 1548 Brickell Avenue, and 75 Broadway, among others. Ytech was represented by Stuart Kapp of KappMorrison, LLP in the acquisition.

“The acquisition of 1500 Brickell Avenue underscores our commitment to the area which is the epicenter of growth in Miami,” said Yamal Yidios, CEO of Ytech. “The restoration will bring to life the significance of this historic property, which when complete will serve as a complement to our luxury residential development efforts in Brickell.”

Originally built in 1931, the property, referred to as “Château Petit Douy,” was designed to resemble the Priory in Saint Julian, France and reflects the period revival style of architecture common during the first half of the twentieth century. Located in what was then known as the Millionaires’ Row neighborhood, the home remains as one of the few historic mansions left on Brickell Avenue. The property gained its historic designation status in 1983.

Since 2006, Ytech has developed and redeveloped more than 7,000 apartments in 25 submarkets across the Southeast United States, involving over $2 billion in capital. In addition, the firm currently has a development pipeline of more than $3 billion in residential projects in the Brickell area.

Cipriani Residences Miami Reveals First Look At Interiors By 1508 London

Cipriani Residences Miami, the luxury hospitality brand’s first ground-up residences in the United States, and developer Mast Capital have revealed a first look at the luxury condominium towers interiors designed by the internationally renowned firm 1508 London. 1508 London worked in collaboration with the Cipriani family to design the tower’s interiors to capture the spirit of the Cipriani brand, recognized for its distinguished style, world-class service and four generations of history and tradition. Cipriani Residences Miami’s interiors will feature a design language consistent with Cipriani’s understated elegance reminiscent of yacht design, while reinventing luxury in the Brickell neighborhood which is known for its high-rise buildings and walkability.

Cipriani Residences Miami is also 1508 London’s first project in Florida, following the opening of the firm’s debut North American hub in Miami. The tower elevates the studio’s existing high-profile portfolio, which includes its work with a roster of luxury brands, such as the Four Seasons, its transformation of Winston Churchill’s former London offices into OWO Residences by Raffles and its design of the world’s largest private yacht.

"The interior design of Cipriani Residences Miami demonstrates a fundamental richness that recalls the timeless elegance of four generations of the Cipriani family. 1508 London has envisioned an offering that captures both the inherent spirit of Cipriani and the sophisticated lifestyle of Miami,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “Owners will be delighted with distinctive aesthetic details such as the delicate edge trim on the bespoke Italian leather furniture, the scent and placement of fresh flowers, the gentle diffused light from Venetian chandeliers, and the magnificent spaces clad in artisan walnut.”

The interiors for Cipriani Residences Miami are an authentic interpretation of the brand. With subtle nods in the choice of furnishings, materials, finishes and color palette, the design is an amalgamation of features directly inspired by Cipriani’s most beloved properties.

“We like interiors that are sophisticated, timeless and functional, with attention to quality of materials and details,” says Giuseppe Cipriani, CEO of Cipriani. “Collaborating for the first time with this design team has been an exciting process.”

The design intent for Cipriani Residences Miami is best expressed by the double-height lobby, which complements the bright and airy architecture by Arquitectonica. The team envisioned a modern take on Venetian design for the space, with timber accents, Italian terrazzo flooring and a color palette that draws from the brand’s restaurants, including their signature blue tones and rich hues like walnut and camel. Designed with a sense of grandeur and moments of intimacy, the lobby is intended to seamlessly transition from day to night, with lounges and bookcases to create warmth and greenery to establish a connection to the outdoors. All the upholstery and light pendants will originate from Italy, such as an authentic Murano glass chandelier that will hang in the main entryway.

“In working with this iconic brand, we had the unique task of creating a new lifestyle using decades of exquisite source material, so we were quickly overcome with inspiration,” said Leo Bertacchini, Design Director at 1508 London. “We carefully wove together a design that would be both derivative of the brand’s flagship properties and unique to this building. It was important to us that residents feel immersed in the Cipriani lifestyle and also have a sense of place in the heart of Miami’s Financial District.”

The design of the 397 residences at Cipriani Residences Miami honor the curved, glass architecture of the tower. Exuding the timeless sophistication of the brand’s classic aesthetic, they offer generous floor plans, 10-foot ceilings, floor-to-ceiling glass windows, expansive terraces accessible from the living room and primary bedroom and panoramic views of Biscayne Bay, the Brickell skyline, and Coconut Grove. The open eat-in chef kitchens feature custom Italian cabinetry modeled after Cipriani’s renowned style, as well as top-of-the-line integrated Wolf Sub-Zero appliances and Art Deco-inspired light pendants. Primary bathrooms include a grand, stand-alone bathtub, glass-enclosed shower and separate water closet, with a vanity comprising premium Italian cabinetry, Dornbracht fixtures and a back-lit mirror.

The one- to four-bedroom residences at Cipriani Residences Miami range from 1,213 square feet to 3,495 square feet, with prices starting from $1.4 million. Sales and marketing efforts for the project are handled exclusively by Fortune Development Sales.

Renderings via The Boundary

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

Ken Griffin Expands Brickell Holdings As Citadel Leases 95,000 SF At 830 Brickell

The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has continued to expand his Brickell portfolio while Citadel signed a lease for 95,000 SF at OKO Group’s 830 Brickell office tower. Griffin announced earlier this year that both Citadel and Citadel securities will move to Miami from Chicago. Through an entity Griffin acquired acquired the adjacent 1250 Brickell Bay Drive and 1260 Brickell Bay Drive for $20 million, the lots total roughly 6,655 SF. The lots are adjacent to 1221 Brickell Avenue, which an entity tied to Citadel reportedly acquired in June 2022 for $286.5 million.

The assemblage of properties spanning from 1221 Brickell Avenue to 1250-1260 Brickell Bay Drive is across the street from 1201 Brickell Bay Drive, which Citadel was revealed as the buyer of after Tibor Hollo’s Florida East Coast Realty sold the 2.5 acre supertall development lot in a $363 million mega-deal also in April 2022. The price equated to $145 million per acre, $3,340 PSF dirt value. Citadel is planning to develop the property with the Chicago-based developer Sterling Bay.

The lease signing at 830 Brickell comes following the news of developers OKO Group and Cain International buying WeWork out of their 146,000 square foot lease covering 10-floors. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF, representing a 42% rise year-over-year. Other top-tier office users who have signed leases at 830 Brickell include Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

Nike Launches New, Live Store Concept 'Nike by Brickell' In Miami

Nike has launched their latest Live concept store in the heart of downtown Miami, Nike By Brickell in Brickell City Centre. Nike By Brickell is Nike’s first Live store in Miami, exemplifying Nike’s retail growth across North America to serve the sport marketplace of the future, which is digitally enabled and powered by Nike Membership. The store, which opened on August 4, 2022, is designed for and inspired by the local Brickell neighborhood. Nike By Brickell offers digital and convenience-led services through the Nike App to allow consumers to discover the best of Nike online or in-store.

The Nike By Brickell exterior mural facade was designed by illustrator and designer Xoana Herrera and takes inspiration from Brickell’s vibrant and diverse neighborhood. Hailing from Argentina, but now based in Los Angeles, Herrera was inspired by sport and by the Brickell community, complementing the design with her signature bold, geometric style to uniquely represent the Nike By Brickell community. Herrera previously created murals for other Nike Live stores including Nike By Long Beach and Nike By Glendale, which also borrowed from both these neighborhoods’ unique vibes.

A few key details about Nike By Brickell include:

Serving Her: Women are shaping a new future of fitness, one that is more inclusive and centered on personal progress and inclusivity. Although there are Men’s and Women’s Lifestyle and Performance products in all Nike Live stores, the Live concept has a sharp focus on serving Women through product, services and experiences in-store.

What the Neighborhood Wants: Through consumer insights, Nike knows Brickell consumers outpace the rest of the region for fitness activities such as Running and Training. To serve their needs, Nike By Brickell will focus its offerings around performance apparel and footwear styles such as the Nike Air Zoom Pegasus 39, Nike Dri-FIT Alate Minimalist Sports Bra, the Nike Fast Tie-Dye Training Tank and more.

Creating More Consumer Touchpoints: Powered by Nike Membership, Live stores provide consumers the convenience to use the same services they have across channels - via the Nike App, online and in store - giving them seamless opportunities to shop wherever and whenever they want. These services include Buy Online, Pickup in Store (BOPIS), Digital Returns, Swoosh Text and Curbside Pick-Up.

Powering Community: Nike store athletes dedicate themselves to increasing access to sport in their local communities, and guide consumers in their personal fitness journey. Nike store athletes redefine sport for a new generation by volunteering their time with local community organizations that support underserved children and communities.

Baccarat Residences Miami, A Design Showcase Where "Life Forever Sparkles"

Miami has long been a mecca for those interested in aesthetics and beauty. From stunning cars to avant-garde fashion, to awe-inspiring natural features, the Magic City is a feast for the eyes.  And while architects, designers, and developers have always played an important role in making Miami one of the world’s most photogenic cities, a new generation of high-design real estate projects is taking things to new heights.  

Once known exclusively for its Art Deco aesthetic, Miami is now home to a diverse range of architectural styles, from ultra-futuristic towers to more timeless designs and everything in between. These new projects push the limits of design to deliver one-of-a-kind structures that are not satisfied with simply being beautiful. New high-design projects, like Related Group’s Baccarat Residences Miami, are elevating city living to an art form.   

“Working with designers and architects to create projects that honor the city while pushing its design language forward is something Related loves to do,” said Sonia Figueroa, Senior Vice President at Related Group. “For a while, bringing on a starchitect was enough to elevate a project; however, that is no longer the case. The designs of our new projects are by far the most complex we’ve ever done, bringing together the world’s top designers, luxury brands and established neighborhood aesthetics into a single cohesive vision.”  

Related’s Baccarat Residences Miami exemplifies this trend to perfection. Envisioned by internationally recognized architecture firm Arquitectónica and branded under the world’s preeminent crystal company, this tower is at the forefront of Miami’s design revolution.  

Baccarat Residences Miami’s bold architectural identity is inspired by the revered crystal company’s 250-year legacy, with architects taking inspiration from the etchings of some of Baccarat’s most timeless pieces.  Soaring to 835 feet, the tower’s chiseled, glass façade creates an interplay of light that mirrors the glittering waters below and gives the sense of looking into one of Baccarat’s gorgeous crystals. 

“The legendary Baccarat name carries enormous weight in the luxury and arts space,” says Bernardo Fort-Brescia, founder at Arquitectónica. “As such, our team went to great lengths to ensure that the tower design honored the history and status of the Baccarat brand – this project will become a landmark at the entrance to Brickell Avenue.  We couldn’t be any prouder of where this collaboration has taken us.”   

This careful focus on elegance and sophistication continues through the building’s interiors where the world-renowned New York City-based designer Meyer Davis brings 18th century French design into the future by seamlessly integrating a lavish yet effortless aesthetic that’s become synonymous with Miami. This marriage of traditional French design and Miami modern resulted in interiors that are supremely elegant and luxurious, while exuding the light and playfulness of our tropical aesthetic.    

Throughout the lobby and common areas, ornate motifs, beautiful panel moldings, antique accent finishes, dramatic undulating curtain glass façade, handcrafted Baccarat chandeliers, and stunning decorative pieces come together to create sumptuous environments worthy of the legendary French brand.    The units are equally stunning, featuring open-concept living areas with floor-to-ceiling windows and breathtaking water views framed by sparking city lights. The gourmet kitchens are the homes’ centerpieces, with stone-clad islands, custom Italian cabinetry and top-of-the-line Wolf and Sub-Zero appliances all open to the generous great rooms. While all homes will be fully finished, owners will have the option to customize as they wish.  

The property isn’t all form over function.  Baccarat Residences Miami residents will enjoy five floors dedicated to amenities -- all expertly managed by SH Hotels & Resorts -- including an elevated resort deck, which will feature a heated saline swimming pool with cabanas, outdoor spa, a romantic orangerie, and a full-service café restaurant, all surrounded by a beautifully landscaped sun terrace, overlooking Biscayne Bay and Miami River.   

Other lifestyle offerings include a state-of-the-art chef’s kitchen and private dining room; a wine cellar and tasting room; a gourmet market; a hair salon and barber station; a hammam spa with women’s and men’s steam and sauna facilities; luxury treatment rooms and spa shop exclusively carrying prestige La Mer beauty products; a state-of-the-art fitness center with a cardio theater and dedicated spinning and yoga rooms; a pet spa, grooming and walking service; and private marina with residents’ yacht for water taxi service to Miami River restaurants and sunset cruises on Biscayne Bay.  As if this was not enough, the residents will also enjoy complimentary membership to the Beach Club at the 1 Hotel South Beach.  

This focus on aesthetics and design has proven to be a resounding success, with almost 80 percent of the tower sold since its official sales contract launch in December 2021.  

For more information about the property, please visit: www.BaccaratResidencesMiami.com.  

The article was produced in partnership with Related Group

WeWork Bought Out Of 146,000 SF Lease At 830 Brickell By OKO Group And Cain International

WeWork has been bought out of their lease to occupy 146,000 square feet covering 10-floors at 830 Brickell by developers OKO Group and Cain International. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF representing a 42% rise year-over-year. Construction on the tower is nearing completion.

Despite the WeWork opt-out 830 Brickell has signed leases with other top-tier office users at 830 Brickell, including Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef and showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.

Gazit Horizons And Atlantic Pacific Reveal New Renderings Of Corwil Architects-Designed Brickell Gateway

Gazit Horizons and Atlantic Pacific have revealed new renderings for Brickell Gateway, a proposed 61-story tower set to rise 747’. Located at 90 SW 8th Street on a ½ acre hard corner development site, the current Corwil Architects-designed proposal includes 504 multifamily units, 18,287 SF of retail and 348 parking spaces. In March the developers requested a final approval for the project from Miami-Dade County planners. As it located in a rapid transit zone, developers requested the final review by county planners as opposed to City of Miami planners. Gazit Horizons acquired the land in July 2017 for $29.5 million and recently demolished the existing 3-story building earlier this year.

Major Food Group And JDS Development Part Ways at MAJOR, Rebranded As 888 Miami

Major Food Group (MFG) and JDS Development Group (JDS) have parted ways at MAJOR, a proposed supertall residential tower at 888 Brickell Avenue. The project has been rebranded as 888 Miami by JDS Development and Studio Sofield. The tower is still described as a ground-up hybrid hotel and luxury condominium residences. The project was to be Major Food Group’s first entry into residential real estate. JDS Development Group is led by Chief Executive and Founder Michael Stern, the powerhouse developer and builder responsible for some of the most dynamic new skyscrapers in New York City and Miami.

888 Miami will rise 1,049 feet tall and rise 888 will feature 259 custom residences conceived as fully hybrid layouts. Each residence is designed to enable the seamless conversions into rooms and suites for guests. The tower, designed by William Sofield, features an elegant and restrained façade of ivory travertine and high-gloss steel columns to express enduring weight and substance while giving a defined graphic, vertical appearance, setting it far apart from its glass and stucco neighbors. The notable crown is wrapped with a filigree of gold spheres and punctuated by extraordinary sculptures in the manner of Italian Futurism on each corner.

Each of the furnished residences in the condo-hotel, ranging from 1-to 4 bedrooms, is designed with custom furniture by Studio Sofield. The plans enable Major residences to seamlessly transform into rooms and suites for guests. Conceived as fully hybrid layouts, each residence utilizes a “lockout” function, which allows for simple conversions between a private residence, suite, and/or guest room. 888 Miami will feature 115,000 square feet of amenities spread over eight floors focused on entertaining, sports, leisure, wellness and fitness.

For more information about 888 Miami, private showings or purchasing/ leasing information please fill out the form below:

International Law Firm Sidley Austin LLP Signs 60,000 SF Lease At Miami's 830 Brickell Office Tower

Sidley Austin LLP, an international law firm with almost $3 billion in revenue and 20 offices worldwide, has signed a lease at 830 Brickell, the new Class-A+ office tower nearing completion in Miami’s Brickell Financial District. Sidley signed a three-floor, 60,000 square-foot lease at the 55-story tower, marking the largest new-to-market office lease signed in the city’s urban core this year. The building, developed in partnership by OKO Group and Cain International, is the first stand-alone Class A+ office tower to be built in Miami’s Brickell Financial District in over a decade and is nearly 70 percent leased ahead of its late-2022 completion.

Sidley will join additional top-tier office users at 830 Brickell, including Microsoft, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, WeWork, and others.

“We are excited to be at the center of this new growth of the Miami business community as we open our 21st office in such a vibrant, international market,” said Yvette Ostolaza, Sidley’s Chair of the Management Committee. “As a Miami native, I know this community well and am excited about the talented lawyers who we have already recruited to serve our M&A, private equity, financial services, tech, cybersecurity and privacy, healthcare, real estate, entertainment, sports, and media, SEC regulatory and enforcement, and global finance clients. We are excited about our new office space.”

“At nearly seventy percent leased, 830 Brickell continues to serve as a magnate for professional service, tech and financial firms growing their presence in Miami,” said Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International. “Brickell has acted as a bellwether in the South Florida office market, and we anticipate increased demand in 830 as Miami grows into a global hub for talent, lifestyle and innovation.”

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

830 Brickell’s ownership was represented by Cushman & Wakefield’s Brian Gale, Ryan Holtzman and Andrew Trench. Sidley was represented by Jeff Gordon and Barbara Black of JLL.

“830 Brickell continues to attract tenants at the top of the food chain and across diversified industries – like financial services, tech, insurance, banking and now, top-tier law firms,” said Brian Gale, Vice Chairman of Cushman & Wakefield. “The surge in new-to-market activity we’ve been experiencing over the last couple years is by far the most we’ve seen in Miami, with over 500,000 square feet of active tenants currently looking for space in the market. The cities that have generated the most activity for South Florida’s office market have come from New York, Chicago, and San Francisco.”

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef and showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.

Newgard Development Group Locks Down $170 Million Construction Loan For LOFTY Brickell Home-Sharing Tower

Newgard Development Group has locked down a $170 million loan from 3650 REIT for its newest residential property, LOFTY Brickell. The closing follows an impressive sales launch, with 80% of the tower’s inventory under contract and groundbreaking set to commence Q4. This is the second loan from 3650 REIT for LOFTY - the first being last fall tied to the land acquisition. Cervera Real Estate is the exclusive sales and marketing for the tower.

“LOFTY is the most elevated offering in short-term rental ownership,” says Developer Harvey Hernandez. “Coupled with its waterfront location and next-level amenities, we’ve assembled a dream team of collaborations with artists and designers for limited-edition experiences and lifestyles for global buyers.”

“3650’s strategy of financing well-located multifamily properties with sophisticated sponsors who employ highly targeted, value-add business plans at unique locations dovetails well with the LOFTY project,” says 3650 REIT Co-Founder and Managing Partner Jonathan Roth. “We believe that the property’s unique business plan to accommodate short-term rental ownership will make it a ‘change winner’ in the post-pandemic South Florida market as more residents seek flexibility and convenience in their living arrangements, and we expect to see sustained long-term demand for these types of units. LOFTY’s prime location adjacent to Brickell City Centre and walkability score of 100 will also provide residents with convenient proximity to best-in-class retail, dining, office and hotel options. It was a pleasure to work with the Newgard team once more, resulting in a smooth transaction despite a difficult market environment. We look forward to working with the Newgard team to execute this exciting opportunity which will transform the Miami skyline.”

LOFTY will deliver fully finished and furnished turn-key residences purposefully designed and licensed to be shared. The 44-story tower features studio, one- and two-bedroom units alongside 40,000 square feet of thoughtfully curated amenities, including a private marina, waterfront dining, members-only social club, resort pool deck and fitness center, indoor/outdoor cigar lounge, coworking lounge and meeting rooms. Interiors are designed by NY-based INC, architecture by Arquitectonica, and landscaping by Urban Robot Associates.

The tower features the first-ever NFT art collective designed for condo owners, integrating digital art into the DNA of the new residential building, while transferring ownership of a custom NFT to each unit owner. In addition to the art collective, which launched with renowned Miami-based artist Carlos Betancourt, a group of branded residences known as LOFTY PH Collection recently unveiled in partnership with Artefacto, a global furnishings brand, and INC, the multi-disciplinary NYC studio responsible for the project’s interiors.

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