Sunset Islands Waterfront Home Trades For $11.5 Million In Off Market Deal

A waterfront home on Miami Beach’s Sunset Island III, located at 1775 West 24th St., has sold in an off market deal for $11.5 million, roughly $3,546 PSF. The buyer was represent by Mallory McGuire and Mirce Curkoski of The Waterfront Team at ONE Sotheby’s International Realty and the seller was represented by Jacqueline Groll and Albert Justo also of The Waterfront Team at ONE Sotheby’s International Realty. The existing 3,243 SF home sits on a 13,125 SF lot and will be demolished to make way for a new home.

The Sunset Islands, a set of four luxurious residential islands located just off of South Beach next to Sunset Harbour, have been a hotspot for luxury development and transactions. Recently Andian Development acquired 1415 North View Drive for $13.9 million with plans to renovate the home. In December Shlomy Alexander, Felix Cohen and Julian Cohen sold a spec home they developed at 1825 West 24th Street for a Sunset Island record $25 million, $3,811 PSF. Developer James Curnin sold a spec home at 1757 West 27th Street for $24.8 million to foamier Goldman Sachs exec Don Mullen and Kawa Capital Management co-founder Alexandre Saverin and his wife sold their home at 1617 West 22nd Street on Sunset Island IV for $13 million.

Core Wynwood Development Site Sells For $11.5 Million

UOVO Storage Deluxe has acquired a core Wynwood development site at 330 NW 29th Street for $11.5 million from Red Group Estate. The buyer was represented by Jordan Karp and the seller was represented by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors. 330 NW 29th Street is currently two fully occupied buildings leased as creative office space spanning 10,939 SF. The 21,000 SF lot is zoned T6-8-0 and is primed for a hotel or office project.

Wynwood has been a hot market recently as more than 400 businesses have moved into the neighborhood in including Blockchain.com, OpenStore, WeWork, Founders Fund, Spotify, Live Nation, Atomic and others. Recent notable transactions include Forte Capital and Sheridan Capital’s acquisition of 2830 NW Fifth Ave. from Alex Karakhanian’s LNDMRK Development for $6.35 million, which they plan to reposition into creative offices. In August 2021 the Brooklyn-based developer LivWrk acquired a 2.45 acre assemblage for $38.86 million and David Edelstein’s TriStar Capital and RAL Development acquired the final 13,250 SF piece of their 72,000 SF Wynwood assemblage where an office campus is planned for $13 million.

Miami-Based Private Equity Firm Iconic Equities Launches With Industrial Development Site Acquisition

Iconic Equities, in partnership with Trinity Capital Advisors, has announced the closing of 239 Jedburg Road in Charleston, roughly 115 acres of land located in the Summerville submarket. The firms plan to develop approximately 780,000 square feet of Class A logistics warehouses. Iconic and Trinity will commence development of the 621,000 square foot cross-dock building and the 158,000 square foot rear-load building this summer. Completion is anticipated to be in the Spring of 2023, with JLL’s Lee Allen and Kevin Coats slated to handle the leasing.

Tim Bishop, previously Director of Acquisitions at Thor Equities founded Iconic Equities about a year ago to focus on acquiring and developing logistics warehouses, Industrial Service Facilities (ISF), multifamily, and mixed-use commercial properties throughout the United States that are poised to benefit from e-commerce growth and population migratory patterns in a post-Pandemic world.

Iconic is in the process of rolling out an infill Industrial Service Facility (ISF) program with an institutional capital partner, focused on markets such as: New York City, New Jersey, Los Angeles, South Florida, Houston, Columbus, Phoenix, Atlanta, Savannah, Charleston, and Dallas. These assets will include truck terminals, trailer storage, container storage, fleet maintenance yards and equipment maintenance yards. The firm is targeting to raise $100 million of equity towards the strategy.

Brian Rosen, who most recently served as the Chief Investment Officer for Accesso Partners in Miami. During his tenure, Accesso acquired over 11 million square feet of real estate. Rosen leads the firm’s multifamily and office platform. Robert Fitzgerald, who previously focused on capital markets at a South Florida-based hedge fund and has been with Bishop since the firm’s inception, focuses on acquisitions and capital markets.

Ty Wiest, who previously worked at Prologis has joined the team as well and will be opening Iconic’s Los Angeles office and leading acquisition efforts on the West Coast. Wiest worked on the Industrial Property Trust acquisition and worked on an additional $900m in transactions while at Prologis. Michael McGraw, also based in Los Angeles, joins the firm from Industrial Realty Group, a national warehouse developer with over 100 million square feet under management across 31 states. While at IRG, McGraw worked on approximately $500m in transactions.

At Thor, a $10 billion assets under management investment company led by Joseph Sitt, Bishop was instrumental in taking the firm into markets like Austin, Nashville, Raleigh-Durham and Dallas. During his tenure, Thor became one of the most active buyers of logistics and life sciences properties in both the US and Europe.

“Our acquisition strategy at Iconic is both highly data-driven and highly adaptable in nature – right now, logistics is the hottest asset classes in real estate, from both a capital markets and tenant demand perspective–so that has been most of our focus,” said Bishop. “We’re acquiring and developing everything from big box warehouses to last mile facilities to outdoor storage facilities – all engineered to capitalize on the momentum from logistics growth over the next 5 years.”

Four Seasons Private Residences Fort Lauderdale Begins Closings At Record Price Per Square Foot

Four Seasons Private Residences Fort Lauderdale, the first five-star development to debut in the nation’s yachting capital, has commenced closings. The first residences have closed at an average of $2,000 per square foot, an unprecedented price for the Fort Lauderdale condominium market. Only seven developer residences of the initial 83 remain for sale as the project is quickly approaching sellout and buyers can now tour the completed residences for the first time as the building readies for opening. Initial occupancy will begin this quarter, in conjunction with the opening of the hotel.

“Fort Partners has always recognized the potential that Fort Lauderdale held,” said Nadim Ashi, Founder and CEO of Fort Partners, who developed the project. “I am proud of the talent that we assembled to provide exceptional exclusivity, design, and service in a city that was ready to be reimagined as a luxury oceanfront destination.”

Prospects touring the building can experience the luxurious interiors designed by award-winning London-based designer Tara Bernerd, and understand how Miami-based architect Kobi Karp, the mastermind behind the building’s distinctive shape, designed the building so that every residence offers views of the ocean. They can also walk the building’s private gardens, which were designed by landscape architect Fernando Wong. In a first-of-its-kind collaboration, Fernando is offering residents at Four Seasons Fort Lauderdale exclusive, complimentary landscape design services at their private terraces. Residents can work directly with Fernando to transform their outdoor spaces into enviable lounges with lush greenery. The unique service adds to the allure of the indoor-outdoor lifestyle at Four Seasons Fort Lauderdale, one of the finest in all of South Florida.

“Fort Partners is proud of the standards it has set for hospitality and residential living in Fort Lauderdale,” said Ramzi Achi, Principal of Fort Partners. “The Four Seasons Hotel and Private Residences is an iconic development that has been created by a team of visionaries and will provide the best in services as well as beautiful design and exclusivity for its residents.”

In tandem with the opening of the residences and the highly anticipated new hotel, two culinary concepts will also debut early this year. They are Evelyn’s Table, an upscale oceanfront restaurant located on the Ocean Terrace, and Honey Fitz, a casual café and bar located in the lobby. In addition to offering residents a dynamic resort experience, the restaurants will bring fresh, elevated cuisine to Fort Lauderdale, with elegant interior design by hospitality designer Martin Brudnizki. Named for Evelyn Fortune Lilly Bartlett, the Fort Lauderdale luminary who founded local landmark Bonnet House Museum & Gardens, Evelyn’s Table honors Evelyn’s commitment to bringing art and creativity to the beaches of Fort Lauderdale.

Evelyn’s Table will serve coastal cuisine with eastern Mediterranean flavors, and exude the tradition of a yacht club combined with the glamour of Four Seasons in Fort Lauderdale. The design features a polished palette of blues, whites and woods, along with sophisticated and fresh nautical accents. Honey Fitz is the lobby café and champagne bar named after the Presidential yacht made famous by John F. Kennedy. It will offer gourmet coffee creations and pastries during the day and wine and champagne at night.

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 a pet concierge with an on-call veterinarian. Residents also receive special courtesies at Fort Partners’ premier portfolio throughout South Florida and the Caribbean.

Pricing for two- to four-bedroom private residences begins at $4.6 million. Sales and marketing are overseen by Douglas Elliman Development Marketing.

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:

One of The Last Vacant Development Parcels In Brickell Sells For $7 Million

One of the last development parcels in Brickell has sold for $7 million with plans for an approved and permitted 60 unit condo or apartment project. Oak Capital, led by Ricardo Dunin, acquired the 19,850 SF, .46 acre lot which is located at 1621 SW 2nd Ave. in West Brickell, just a few blocks away from Brickell City Centre, SLS Hotel, Echo Brickell, Mary Brickell Village, and Brickell Bay Boardwalk. The shovel-ready 60 unit project would rise 9-stories and the location of site and T6-8-0 zoning allows for short-term rentals. The transaction closed on February 1, 2022 and was overseen by FA Commercial’s Fabio and Sebastian Faerman who represented both the buyer and seller. FA Commercial represented the current seller, Carlos Pineda, in the original purchase of this site for $2.7 million to disposition selling the site for $7 million with approved potential for development.

Images via FA Commercial

Miami Sees Second Highest Priced Crypto Sale As Marquis Residences Condo Sells For $7.2 Million

The Downtown Miami market is on fire amidst a number of building launches and splashy sales. Now the City of Miami has seen its first crypto sale of the year as Unit 5306 in Marquis Residences has sold for $7.2 million in Ethereum that was transferred to USD Coin, a digital stablecoin that is pegged to the United States dollar, for the transaction. The sale is the second largest in Downtown Miami behind a $7.2 million sale at the nearby One Thousand Museum and the third highest in the Miami area ranking behind a $22.5 million deal at Arte in Surfside, both last year. Madison Roberts and Zach Oppenheim with Oppenheim Realty represented the buyer in the transaction, and Enzo Rosani of Barnes International Realty represented the seller, along with Ricardo Assaf with Unblock Capital, who helped mediate the crypto transfer. Coral Gables Title & Escrow handled the closing. Roberts and Oppenheim also represented the buyer in the One Thousand Museum deal last year.

Marquis Residences is located at 1100 Biscayne Boulevard in Downtown Miami. The buyer is a business developer from Central America. The triplex spans 6 bedrooms 7 bathrooms and 6,952 square feet. The two-story residence offers floor-to-ceiling windows overlooking the entire city and ocean, a movie room, designer kitchen, office, two laundry rooms. The lavish master bedroom features views of Biscayne Bay and a double shower, jacuzzi and sauna. The unit also features a full home automation system throughout and window treatment for efficient A/C and energy savings.

"I have been in the crypto industry since 2011, it is absolutely amazing to see where crypto is right now and where it is headed. The opportunities are endless and we have yet to begin," said Roberts.

Images via Barnes International Realty

Tour This Restored Classic 1929 Coconut Grove Estate Designed By De Garmo Which Just Sold For A Record $12 Million

Coconut Grove remains one of Miami’s hottest neighborhoods in Miami for luxury real estate. A non-waterfront home at 3467 Moorings Way has sold for $12.8 million, marking a record 2,000+ per square foot for a non-waterfront residence in Coconut Grove. The seller was Moorings Land Trust, represented by Anna Sherrill with ONE Sotheby’s International Realty and the buyer is Dynamo Hum LLC, represented by Jorge Uribe with ONE Sotheby’s International Realty. The residence is located in The Moorings, one of Coconut Grove’s most exclusive enclaves with only 43 residences. The Mediterranean revival villa was originally designed and built in 1929 by Walter De Garmo is authentically designed a restored to perfection.

The walled and gated classic estate is masterpiece of Mediterranean inspired architecture, surrounded by a landscaped courtyard, garden, and loggia lined patios. The estate is situated on 28,577 square foot point lot with views of Biscayne Bay. The home features 6 bedrooms and 7 bathrooms and spans 6,200 square feet. The interior is designed to the highest standards and updated to assimilate the with organic nature of the estate. The foyer and formal living room feature vaulted beam ceilings with details of stone and glass. The home also features a formal dining room, lavish bedrooms with en-suite baths and a stunning master suite that exemplifies luxury and sophistication overlooking the private manicured grounds. Outdoors features a 2 car garage, separate guest home and beautifully landscaped gardens with a coral stone pool.

Walter De Garmo was prominent architect in Miami and its surrounding South Florida communities in the early 20th century. Several well known buildings designed by De Garmo still stand today including the Woman's Club of Coconut Grove, the 1907 Miami City Hall, the Miami Beach Community Church on Lincoln Road and 27 Star Island which just listed for $90 million.

Images via 1 Oak Studios

Cantina La Veinte Space In Icon Brickell Trades For $18.8 Million In Off Market NNN Deal

The waterfront retail condo in Icon Brickell that is home to hotspot Mexican restaurant Cantina La Veinte, or Cantina La 20, has sold for $18.8 million. The tenant will remain in place with a brand-new 15-year lease, with 2 and 5-year renewal options. The two story retail condo spans 11,176 SF and is located on the Brickell Baywalk. Fabio and Sebastian Faerman of FA Commercial represented both the buyer and the seller in the off market NNN transaction.

The transaction brings the property full circle for FA Commercial as they initially represented the current seller when they first acquired the property pre-construction. FA Commercial later leased the property to Cantina La Veinte, then sold the retail condo with the tenant in place and now has sold retail property once again.

Icon Brickell is a waterfront 3-tower complex situated in the financial district of Miami which is also home to the W Miami Hotel and Cipriani Downtown Miami. Icon Brickell is located on the Brickell Baywalk and is a few blocks from Mary Brickell Village. Cantina La Veinte is located in Tower 2 at 495 Brickell Ave.

Images via FA Commercial

Kushner Cos. And Aimco Acquire Fort Lauderdale Development Site For $49 Million, To Build City's Tallest Tower

A partnership between Kushner Cos. and Aimco (NYSE: AIV) has acquired a development assemblage in Fort Lauderdale for $49 million and plan to develop Fort Lauderdale’s tallest tower. The development partnership acquired a 1.87-acre site at 520 W Broward Blvd. for $35.5 million from Swire Properties as well as a 2.31-acre site at 300 W Broward Blvd. for $13.5 million. The acquisition was financed with a $40 million mortgage provided by MSD Partners.

The towers would rise 48-stories, 546’. The tallest building in Fort Lauderdale is currently the 46-story 100 Las Olas. The project would feature 956 rental apartments, 23,752 SF of commercial space and 1,031 parking spaces. The tower was designed by ODA Architecture and features two towers joined by a 10-story base which will house the amenities including a fitness center, library and resident’s lounge. Atop the landscaped podium will be sunrise and sunset pools, cabanas and a yoga deck. Plans for the project were submitted to the City of Fort Lauderdale for approval in late 2021.

Renderings via ODA Architecture

Château Group Sells SkyVilla Residence For $13 Million At Château Beach Residences, Sunny Isles Beach

Château Group has sold their lavish SkyVilla Residence complete with a private rooftop pool at the ultra-luxury boutique building Château Beach Residences, Sunny Isles Beach. The developer delivered the fully finished residence at the record-setting price of $13 million dollars to a longtime building resident owner.

The unit spans the entire 24th floor and a section of the 25th floor of the building, featuring 4 bedrooms, 7.5 bathrooms, a separate oceanfront master suite wing and a massive great room, perfect for entertaining. The unit has almost 8,500 square feet of interior space and a wrap-around terrace of over 2,400 square feet with its own private outdoor pool.

The only remaining residence is the Signature Penthouse spanning almost 10,000 square feet over two levels, double height ceilings, a 2,500 square feet master suite, an impressive great room and a private swimming pool overlooking the ocean. This one-of-a-kind residence is delivered move-in ready with exclusive high-end finishes and Italian furnishings.

Château Beach Residences is located on the prime oceanfront at 17475 Collins Avenue in Sunny Isles Beach. Comprising only 81 units, the boutique property offers an impressive lobby, a beach restaurant and bar, fitness center, spa, wine room, concierge services, among other top-line amenities.

The signature curvilinear silhouette of the tower, crafted by Château Group, is a standout on the horizon – a design uniquely inspired by the tower’s prime location overlooking the ocean and the Intracoastal Waterway, as well as the rolling dunes of the adjacent beach.

“Our residents have been praising the end-result of the thoughtful and detailed work that has gone into creating and delivering this project,” said Manuel Grosskopf, CEO of Château Group. “The building’s longstanding success, as well as this most recent triumph, have been a testament to the residents’ recognition of a high-quality project paired with high-level of service.”

Since the start of 2019, there has been an uptick in sales activity in the Sunny Isles Beach area, showing a complete shift in the market during the pandemic. For jet-setting CEO’s, top executives, and VIPs, South Florida seems to be the ultimate destination. At Château Beach Residences each resident enjoys luxury hotel-level concierge services, from cleaning and turndown services to transportation to and from the airport, tickets to the most sought-after shows, restaurant reservations, private curated events, all the way to groceries securely stored in their refrigerator.

“The most high-profile buyers in the world have been purchasing homes in this condominium, knowing that the services, amenities, architecture, and design exceeded every expectation.” Added Grosskopf.

Château Beach Residences, Sunny Isles Beach Amenities: