Four Seasons Private Residences Fort Lauderdale Reaches 75% Sold With $15 Million Penthouse Sale

Sales have passed the 75% mark at Four Seasons Private Residences Fort Lauderdale, the first five-star development in Broward County, amid the sale of its massive $15 million penthouse. The sale of Penthouse 2201 comes as demand for bigger homes, with panoramic water views along Florida's oceanfront, is skyrocketing.

Penthouse 2201 spans 5,766 square feet of interior space with four bedrooms, six bathrooms and 5,442 square feet of outdoor space, including a wraparound terrace. The residence offers coveted features, including direct elevator entry, a foyer with adjacent powder room, and a library located off the oceanfront living room.

Four Seasons Fort Lauderdale features 148 guest rooms and 83 residences ranging from one- to four-bedrooms, with each residence offering expansive living spaces, large private terraces and unparalleled views of the Atlantic Ocean and Intracoastal Waterway. Amenities and à-la-carte services managed by Four Seasons, include a state-of-the-art fitness center, two pools with luxury cabanas, beach butler service, signature Four Seasons spa, yachting services and special courtesies at Fort Partners’ premier portfolio throughout South Florida and the Caribbean. Pets will have their very own pet concierge and on-call veterinarian.

Four Seasons Fort Lauderdale was designed Miami-based architect Kobi Karp with interiors by Tara Bernerd and hospitality designer Martin Brudnizki, and landscape architecture by Fernando Wong.

With the sale of 2201, there's only one penthouse remaining at the development, a 4-bed, 6.5-bath home with a rooftop pool now on the market for $15.9 million. Pricing for two-to four-bedroom private residences starts at $3,595,000 and occupancy will begin later this year. Douglas Elliman Development Marketing exclusively overseeing sales and marketing for the project.

Imagery via Four Seasons Fort Lauderdale

For more information about Four Seasons Private Residences Fort Lauderdale, private showings or purchasing/ leasing information please fill out the form below:

Abbhi Capital Acquires 1-Acre Miami Worldcenter Development Parcel For $20 Million

The master developer behind Miami Worldcenter, the $4 billion, 27-acre mixed-use development now underway in the heart of Downtown Miami, has sold a 1-acre parcel to Coral Gables-based investment firm Abbhi Capital for $20 million. The property is the west parcel of Miami Worldcenter’s “Block A,” which is located between NE 10th and 11th Streets along NE 1st Avenue. The parcel is zoned for a mixed-use project, with a base development capacity of nearly 850 residential units and 1.2 million square feet. The Cushman & Wakefield team of Robert Given, Troy Ballard, and James Quinn represented the seller, “MWC Block A, LLC” in the transaction.

The sale marks the second parcel of Miami Worldcenter land purchased by Abbhi Capital within the last year. In August 2020, the firm bought the neighboring center parcel of Block A for $24 million.

“Abbhi Capital's investment in Miami Worldcenter's mixed-use master plan is the latest example of sustained interest from like-minded firms that see value in aligning with our best-in-class team of developers and operators. We look forward to collaborating with the Abbhi Capital team as our vision for a 'city within a city' in the heart of Downtown Miami comes to life with an array of residential, retail, commercial, entertainment, and hotel uses," said Nitin Motwani, Managing Partner of Miami Worldcenter Associates.

“Abbhi Capital is excited to expand our commitment to Miami Worldcenter and we are proud to be a part of the strategic vision of a ‘city within a city.’ We look forward to the bright future of this incredible location and project," said Sankesh Abbhi, Managing Partner of Abbhi Capital.

Miami Worldcenter’s master plan continues to deliver in phases. As the largest private development underway in Florida, the development will feature a diverse mix of residential, commercial and hospitality uses complemented by a total of approximately 300,000 square feet of retail, restaurant and entertainment space.

Two residential buildings have been completed, the 60-story Paramount Miami Worldcenter condominium and the 43-story Caoba luxury apartment tower. Approximately 150,000 square feet of retail has been completed for tenant build-out, with another 130,000 square feet currently under construction and nearing delivery. Construction has topped off at ZOM’s 43-story Bezel Miami Worldcenter, a 434-unit rental tower slated to open later this year, and at Miami Worldcenter’s 351-room citizenM hotel, which is expected to open in December.

Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Perez Art Museum Miami and the Frost Museum of Science; AmericanAirlines Arena; the Adrienne Arsht Performing Arts Center; and Miami-Dade College’s Downtown Miami campus. It is also adjacent to Brightline’s MiamiCentral station, which will soon offer direct train service to Fort Lauderdale, West Palm Beach and Orlando, together with access to TriRail, the Metromover and the Metrorail, making Miami Worldcenter the largest and most-connected transit-oriented development in Florida.

Soliman Corp. Acquires Hallandale Beach Office Building From KEI Properties For $16.5 Million

Canadian real estate investment firm Soliman Corp., led by Jeffrey Soliman, has acquired a multi-tenant office building in Hallandale Beach from KEI Properties for $16.5 million. The 11-story, 117,668 square-foot office building is located at 1250 E. Hallandale Beach Blvd. in Hallandale Beach, FL. The buyer, Soliman Corp, an affiliate of 1250 E. Hallandale LP, acquired the property from Murray Family Associates, an affiliate of KEI Properties. The transaction was overseen by Tiktin Real Estate Investment Services (TREIS), a leading commercial real estate investment sales brokerage firm. Adam J. Tiktin, president and broker of TREIS, represented both the Buyer and Seller in this transaction. The closing took place March 31st.

Originally constructed in 1973, the building was 78% leased at the time of sale. Soliman Corp. plans to execute a value add strategy by renovating the lobby, hallways and common areas. The building is situated on over 2.5 acres of land and located just two miles from the Aventura Mall and less than a mile away from Gulfstream Park. KEI Properties originally acquired the property in 1998 for $4.3 million.

RedSky Capital And JZ Capital Partners Sell Wynwood Block For $24 Million

A partnership between RedSky Capital and JZ Capital Partners has sold the retail building known as Wynwood Block for $24 million, $969 per square foot, to Wynwood Block Realty LLC. The sale reflects a $2 million loss from the $26 million, $1,050 per square foot, the partnership paid for the property in 2015. The transaction was financed with a $12.2 million mortgage provided by Valley National Bank.

Located at 190 NW 27th St. and 2621 NW 2nd Ave., the building spans 24,763 square feet and the total site spans 36,750 square feet, .87 acres. Tenants include Wynwood Diner, Aesop, Mister Block Cafe and Italia Independent.

In September 2020 the RedSky Capital and JZ Capital Partners joint venture sold a 1.25 acre development site located at 2700 NW 2nd Avenue in Wynwood for $26.06 million to New York-based real estate investment and development firm Seven Valleys. The sale marked a $4.69 million loss from the $30.75 million the partnership paid for the property in 2016.

For more information about commercial properties in Wynwood including sales, leasing and private showings please fill out the form below:

Step Inside 'La Salona," A Roaring Twenties Palm Beach Oceanfront Mansion Which Just Sold For $48.5 Million

An iconic Palm Beach mansion originally built in 1926 on the famed South Ocean Boulevard just sold for $48.5 million. Named ‘La Salona,” the roaring twenties era compound was built by renowned Palm Beach architect Marion Sims Wyeth, who also designed Mar-a-Lago, and is part of a stretch of classic mansions overlooking the Atlantic Ocean. Gary Pohrer of Douglas Elliman represented the seller who purchased the home in 1989 for $2.25 million. Christian Angle of Christian Angle Real Estate represented the buyer who remains unnamed.

Located at 172 South Ocean Blvd., ‘La Salona’ features 16 bedrooms and 17.5+ bathrooms spread over 19,434 square feet on .92 perfectly located acres. The home exudes true Palm Beach style complete with a arched entry landscaped courtyard and Cypress coffered ceilings which are stenciled in a lime paste technique. The residence has been meticulously maintained and updated, the western portion most recently was renovated in 2016. The residence features a formal dining room, a wood-paneled library and multiple well decorated living areas, chef’s kitchen, breakfast nook and beautifully landscaped courtyard with a pool and sun bathing areas.

Imagery via Douglas Elliman

For more information about homes in Palm Beach, private showings or purchasing/ leasing information please fill out the form below:

Blackstone Acquires MiamiCentral Office Buildings For $230 Million To Build Downtown Miami Technology Hub

The New York City-based global investment firm Blackstone has acquired the 2 and 3 MiamiCentral office buildings from Shorenstein Properties for $230 million. The office complex, which was developed in 2017 and 2018, spans 317,939 square feet, breaking the transaction down to $723.41 per square foot. The office buildings are located at 161 NW 6th St. and 700 NW 1st Ave.; additionally, they are connected to MiamiCentral Station, which offers the Brightline train service to Fort Lauderdale and West Palm Beach. Shorenstein Properties initially acquired the properties for $170.5 million in May 2019.

Blackstone leased 41,000 square feet at 2 MiamiCentral in January 2021 for Blackstone’s in-house technology team BXTI before committing to buying the buildings. Blackstone plans to build a technology hub in Downtown Miami and will use the new acquisitions as part of its initiative. The firm plans to hire over 200 technology employees in Miami.

Other tenants at 2 & 3 Miami Central include Ernst & Young, Regus, Moss & Associates, Atlantic Pacific Corporation, Publix, Brightline, CONCACAF, MTV, Einstein Bros. Bagels and Florida East Coast Industries.

PROFILE Exclusive: The Legendary 46 Star Island Originally Built By Carl Fisher Finally Sells For $39 Million

PROFILEmiami is the first to report that the legendary cul-du-sac, located at 46 Star Island, which was originally built by the "founder" of Miami Beach Carl Fisher, has finally sold for $39 million. The property was listed by Dora Puig and Alexa Iacovelli of Luxe Living Realty and Jill Hertzberg of The Jills Zeder Group at Coldwell Banker brought they buyer, who remains unnamed. The seller was Marc Iacovelli who originally purchased the home in 1987 for $1.825 million. 46 Star Island first listed in 2016 for $65 million before later dropping its price to $48 million and even tested out the auction market with Concierge Auctions in January 2018.

46 Star Island features 10 bedrooms, 12 bathrooms with over 18,356 SF of living area. The estate was completely renovated in 2016 keeping the classic Mediterranean design with modern features such as a new kitchen and updated living areas. Luxurious features and finishes cover every inch of the property such as a large, ornate living room with vaulted ceiling; clerestory and arched casement windows, 3,000-bottle wine cellar, billiard room with wet bar, gym, office, staff quarters, sun room, formal dining room, guest quarters, and a massive chef's kitchen. Outside features over 250' of waterfront complete with lounge areas, exotic landscaping, resort style pool with cabana, and 2 private docks on of which with has a boat lift, all offering stunning views of Biscayne Bay and Monument Island. 

Photos by Alex Tarajano Photo

AB Asset Management Acquires Residence Inn Coconut Grove From Hersha Hospitality Trust

AB Asset Management has acquired the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s vibrant Coconut Grove neighborhood. The 2 acre property sold for $31 million, which breaks down to roughly $221,429. The seller was Hersha Hospitality Trust, led by Neil and Jay Shah. The transaction was overseen by Avison Young’s Florida Capital Markets Group led by Avison Young Principals John K. Crotty, CCIM; Michael T. Fay, who is also Managing Director of the firm’s Miami operations; David Duckworth; Vice President Brian C. de la Fé; and Associates Emily Brais and Berkley Bloodworth. AB Asset Management LLC is managed by Getzy Fellig and Sam Zalmanov.

“The Residence Inn received strong interest because of its Coconut Grove location near the newly renovated CocoWalk retail and dining destination, the 750,000-square-foot mixed-use Mayfair in the Grove development, and several other exciting new projects that contribute to the area’s live-work-play appeal,” said Crotty.

Situated at the intersection of Tigertail Avenue and Mary Street, the property sits on over two acres at the entry-point of the Grove’s business district, just a few minutes walking distance from shopping, dining venues, and multiple parks overlooking Biscayne Bay. The neighborhood has proven itself as a destination for high-end condominium use, with recent high-rise developments Park Grove, Grove at Grand Bay, and Mr. C Residences.

New Urban Communities Sells Azul Apartments In Stuart For $15.5 Million

The Delray Beach-based New Urban Communities, led by Kevin Rickard and Tim Hernandez, has sold Azul Apartments in Stuart for $15.5 million to the San Diego-based public REIT DiversyFund Growth REIT. The price breaks down to roughly $316,000 per unit. The transaction was overseen by Stephen Nostrand and Alexis Shapiro with ONE Commercial Real Estate. Azul Apartments was developed in 2019 and features 49 units spread over 32,577 square feet of total developed. Units come in one, two and three-bedroom floor plans and amenities include a pool, spa, fitness center, media center, club room, walking trails and on-site management. Located at 201 SW Joan Jefferson Way, Azul Apartments rises three-stories on 1.6 acres of land which was leased by the city to the developer was designed by Martin Architectural Group.

Suntex Marina Investors Acquires Prime Marina Miami In Coconut Grove

The Dallas-based Suntex Marina Investors LLC has acquired Prime Marina Miami in Coconut Grove. Terms of the deal were not disclosed but it does include the transfer of a 70-year lease on 111 boat slips which was recently signed by Prime Marina Group. Suntex will change the property’s name back to its original name, Bayshore Landing.

Bayshore Landing features 111 boat slips which can accommodate boats up to 130’ as well as 15,000 square feet of restaurant space and 30,000 square feet of retail space. Current tenants include Monty’s Raw Bar, Sushi Maki and Starbucks. The property is 100% occupied. Bayshore Landing offers pump out and fuel services, 24/7 access, security patrol, lighted parking and a valet service.

"Suntex is actively growing and seeking acquisitions that align with our core objectives to be the premier marina operator in the U.S.," said David Filler, head of Suntex Investments, Florida. "Biscayne Bay and the surrounding neighborhoods like Coconut Grove represent one of the greatest boating communities in the world; we are pleased to add this property to our portfolio."

Suntex’s portfolio includes marinas across Florida including Bahia Mar Marina in Fort Lauderdale and Miami Beach Marina. Suntex also owns marinas in California, Georgia, Iowa, Kentucky, Maryland, New Jersey, Oklahoma, Texas, Tennessee and Virginia.