Una Residences Given Green Light

OKO Group’s latest development, the nautically-inspired Una Residences, has now been approved by Miami’s Urban Development Review Board. This key step brings the 47-story condo building, proposed for 175 SE 25th Road, a little closer to inception at the crossroads of Coconut Grove and Brickell.

The building will feature 135 waterfront condos starting at $942,000, an underground parking garage, and public baywalk that connects to an adjoining park. The review board granted a request to allow ingress for vehicle entries at the loading docks and service area, which will pave the way for the demolition of the current structure.

This process of condo termination and redevelopment has been fueled by CEO of OKO Group, Vladislav Doronin’s confidence in the site, which he began to assemble back in 2016 by buying out current residents at nearly double the expected market value. “There has been no new construction here for the last 10 years,” says Doronin. “We were lucky to manage to purchase this site. And for the near-future, no one else is going to build here. We won’t have any competitors in South Brickell.”

This developer strategy of parcel identification and repurposing can be expected to continue in the upcoming real estate cycle as waterfront property becomes more scarce in Miami. Sales for Una, which are being handled exclusively by Fortune International Realty, went live back in March. Cash buyers have been the cornerstone to Una’s pre-sale success, most coming from overseas, since the building has not yet secured any form of traditional financing.

The project is expected to be completed by 2021.

Article by: Katya Demina 

A Bayfront Estate In Coconut Grove Once Owned By The Miami Heat's Alonzo Mourning Has Sold For $8.25 Million

3525 Anchorage Way, a bayfront estate located on the exclusive Anchorage Way in Coconut Grove which was previously owned by the Miami Heat's Alonzo Mourning has sold for $8.25 million. The home was listed for $11,999,000 with Bo Mastykaz of Douglas Elliman. The seller was George Thermiotis and is one of only five rarely available properties in the exclusive Anchorage Way community. The custom built home features open bay views throughout with 7 en-suite bedrooms and 8.5 bathrooms, all spread over 10,739 SF. The interior offers a formal dining room, staff quarters, library/office, gym, and a large master-suite with expansive walk-in closets and a bayfront soak-in tub. The luxurious residence also features rooftop access offering panoramic views of the Biscayne Bay. Outdoors comes with a bayfront pool and a private harbor with 3 boat slips with no fixed bridges, unobstructed bay access. 

Enjoy the photo and video tour below:

Metronomic Place Mixed-Use Hotel Designed By CLAD Revealed In Coconut Grove

Metronomic Place, a new mixed-use project coming to 3280 Grand Avenue, has been revealed in Coconut Grove. The project is being designed by local architecture firm CLAD and will feature interiors by One Design Build. Metronomic Place will rise 5 stories and will feature 5,000 SF of office space, 3,200 SF of ground-floor retail and a 44-key hotel. The hotel component will be all suite offering larger rooms with terraces and full kitchenettes. Amenities will include a landscaped roof terrace with pool deck. The project is being developed by Metronomic, Inc. who acquired the former car was property for $4.1 million. The office space will become Metronomic, Inc.'s new headquarters. Metronomic Place plans to break ground in September 2018 with an expected completion in 2019. 

ROVR Development Closes $27 Million Construction Loan For The Fairchild Coconut Grove

ROVR Development is pleased to announce it has closed on a $27 million loan for The Fairchild Coconut Grove, the new luxury waterfront condo development rising directly on Biscayne Bay in Coconut Grove. Ocean Bank provided the financing for the project which broke ground in April 2018 with an event with distinguished guests that included Mayor Francis Suarez and Commissioner Ken Russell. Construction at the project is on schedule for completion in Fall 2019. 

“The closing of this construction loan from Ocean Bank is a significant milestone for us and an important step towards bringing our project to fruition,” said Oscar Rodriguez, Principal of ROVR Development. “Since breaking ground in April, construction at The Fairchild Coconut Grove has been advancing on schedule.”

“Ocean Bank has a strong history of supporting South Florida development,” said Ralph Gonzalez-Jacobo, Executive Vice President and Head of Lending, Retail Banking and Branch Administration at Ocean Bank. “We have an excellent relationship with the developers and are pleased to provide financing for this exceptional project.”

The Fairchild Coconut Grove was designed by local architect Max Strang in collaboration with interior designer Rafael de Cárdenas. The project features 26 exclusive two to four bedroom residences ranging in size from 1,714 to 4,114 square feet with pricing starting around $1.4 million and ranging up to $4.5 million. Residences are expansive and feature natural stone floors; lanais with views of Biscayne Bay and verdant neighborhood landscapes; gourmet chef-inspired kitchens; spa-inspired bathrooms; spacious living areas and private outdoor showers in select units. All homes will be pre-wired with Smart technology and Crestron packages.

Amenities are designed by Rafael de Cardenas and include a holistic wellness spa with Hammam, steam room and sauna; high-tech training gym; rooftop pool with private cabanas; and exceptional lobby with full-time concierge, 24-hour security and valet. Lush landscaping complete with serenity gardens, bay walk and jungle rainforest path offer consummate outdoor experiences that include a bayside lounge; sunset deck; outdoor cinema; full-time porter; private on-site dog park; private boat slips; resident bicycles; a floating dock with resident paddleboards; and kayak storage.

One Sotheby’s International Realty is handling the exclusive sales and marketing for the property.

Check out photos of The Fairchild Coconut Grove Sales Gallery. 

Check out our PROFILE Exclusive Interview with developer Oscar Rodriguez of ROVR Development.

Terra's Arquitectonica-Designed Rentals Summerhill In Coconut Grove Unanimously Approved

Terra Group will move ahead with Summerhill in Coconut Grove after the project was unanimously approved by Miami's Urban Development Review Board (UDRB) in July 2018. Summerhill is being designed by Arquitectonica and features a design that pays homage to Coconut Grove's sailing culture. The project will feature two, 20-story towers that feature 303 apartment rental units along with over 32,160 SF of leasable commercial space and 574 parking spaces. Summerhill will be located at 2655 S Bayshore Drive. 

Project Name: Summerhill

Neighborhood: Coconut Grove

Developer: Terra Group

Architect: Arquitectonica

Stage of Construction: Approved [Not Broken Ground]

Project Stats: 303 Residential Units, 32,160 SF Commercial 

Check-Out The Cipriani's Newly Revealed Mr. C Coconut Grove Hotel Designed by Arquitectonica

The Cipriani family is bringing a new hotel to Coconut Grove, featuring a modern, radical design by Arquitectonica which was influenced by Stiltsville in nearby Biscayne Bay. The development team recently revealed the hotel with new renderings and construction is nearing completion with the hotel expected to open this winter (2018). 

Located at 2988 McFarlane Road, Mr. C Coconut Grove will rise 5-stories and feature 98-rooms which are a mix of guest rooms and suites with private terraces. Pricing is expected to start around $325 per night matched with attentive European service from the staff. Mr. C Coconut Grove will also feature a new Italian dining concept with indoor and outdoor seating as well as the rooftop Bellini Restaurant and Bar. The project is being developed by Arquitectonica principal Bernardo Fort-Brescia's Main Highway Partners.

The Optimum Tops Off In Coconut Grove, The Neighborhood's First New Class A Office Building In 25 Years

Optimum Development USA, a global real estate investor and developer, has officially announced that “The Optimum,” their new five-story luxury Class A office building in Coconut Grove, has officially topped off. Optimum Development and the tower’s general contractor, Grycon Construction, commemorated the occasion with a luncheon on Friday, June 1st for over 150 construction workers, engineers and other contractors involved, in celebration of the project’s momentum and Optimum’s commitment to enhance Coconut Grove’s revitalization. The milestone event featured remarks from from Mayor Francis Suarez, Optimum Development CEO Ricardo Tabet and Grycon Construction executive Eric Helitzer. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be a part of the exciting citywide transformation underway in Coconut Grove,” said Ricardo Tabet, CEO of Optimum Development USA. “We look forward to delivering the area’s first new Class A office building in more than 25 years and welcoming our new tenants. The ideal location on Main Highway has proven to be a strong attraction to small and mid-size businesses, who appreciate the ease of access to all of Coconut Grove and close proximity to Coral Gables, Brickell, Key Biscayne and downtown. The Grove’s charm and pedestrian friendly streets and shops are luring a vibrant mix of professionals.”

The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The 50,500 SF midrise luxury office development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed later this year (2018).

Check-out PROFILEmiami's coverage of The Optimum's August 2017 groundbreaking

GlassHaus Breaks Ground In Coconut Grove At Nearly 50% Sold

GD.8 and Element Development, LLC. have broken ground on GlassHaus, Coconut Grove's newest boutique condo project designed by Varabyeu Partners. The project is reportedly 50% sold. When complete the project will rise 5-stories and offer 23 luxury condominiums. Residences start at $595,000 and range up to $1.2 million, offered in 1, 2 and 3 bedroom layouts that range from 1,080 SF to 2,380 SF. Units will come complete with 11' ceilings with floor-to-ceiling glass windows, Italkraft cabinetry and stone countertops in the kitchen, and a buyer's choice of wood or porcelain floors. GlassHaus will also include a fitness center, electric bicycles, zen garden, resort-style rooftop including pool, summer kitchen and lounge and underground parking. Owners will also receive a membership to the Coconut Grove Sailing Club. Fortune International is in charge of sales and Glasshaus Coconut Grove is expected to be completed in 2019.

“I am very proud and excited that we are breaking ground on schedule,” said Javier Llurch, president of Element Development. “Glasshaus in the Grove is the first of many projects that we have planned along 27th Avenue - a bridge for the North and Center Grove neighborhoods.”

Arbor in Coconut Grove Announces Partnership With Miami-Dade's Million Trees Miami Campaign

The 52-residence Arbor, Coconut Grove’s latest boutique condo offering, jointly developed by Urban Atlantic Group and Oak Ventures, announced a partnership with Miami-Dade County’s Million Trees Miami Campaign. Million Trees Miami is a community effort to plant one million trees by 2020 and achieve a 30% tree canopy, which is the national standard for a healthy, urban environment. The program was created by Neat Streets Miami to bring awareness to the social, economic, and environmental benefits that sustainable urban landscapes provide, including enhanced quality of communities and their sustained livability. Arbor is the first residential development to take part in Miami-Dade County’s initiative to plant one million trees by 2020.  

Nick Hamann, Arbor’s lead developer, is a Coconut Grove resident himself and principal with Urban Atlantic Group. He is the first residential developer to participate in the initiative by registering the trees planted at Arbor with the Million Trees Miami campaign. Hamann says, "It’s important that we set a good policy and lead by example. If we all work together, we can find creative solutions to create and maintain a sustainable urban environment for future generations. We hope our partnership will raise awareness and encourage others to join the cause.” 

Dennis C. Moss, Neat Streets Miami Chairman and Miami-Dade County District 9 Commissioner, notes how important tree canopy is “[d]ue to Miami-Dade County’s rapid development and recent devastating storms.” As storms and rising sea levels become more unpredictable due to climate change, trees and other vegetation will be key in helping mitigate the effects of flooding, pollution, and erosion. 

Miami joins other metropolitan cities such as Washington D.C., Charlotte, Los Angeles, and New York City, who have recognized the benefits of similar city-wide tree campaigns. Arbor and Million Trees Miami will also team-up throughout the year to host educational and hands-on tree planting events, with the first slated for May 18, 2018 at Coconut Grove Elementary School. 

Sales for Arbor launched in mid-March 2017 and completion is slated for 2019. Residences start at $799,000. Douglas Elliman is exclusively handling sales for the project. For more information or to get involved, visit http://milliontrees.miamidade.gov/home.asp. 

Article by Katya Demina

Read our PROFILE Exclusive with Nick Hamann of Urban Atlantic Group and Jeremy Waks of Oak Ventures, LLC. discussing Arbor and bringing eco-friendly living to Coconut Grove.

ROVR Development Breaks Ground On The Fairchild Coconut Grove Designed By Max Strang

On April 10th, ROVR Development officially broke ground on The Fairchild Coconut Grove. To celebrate the milestone, the developers welcomed guests to the ground breaking ceremony for their new waterfront luxury development which is now rising in Coconut Grove. The project is currently 60% sold, with the majority of buyers coming from South Florida and Latin America. The Fairchild Coconut Grove is located at the end of a quiet residential community at 3581 E. Glencoe Street, directly on Biscayne Bay. The boutique development is designed by acclaimed local architect, Max Strang, offering a tropical-modern sanctuary of curated waterfront living that perfectly fuses contemporary elements with the natural surroundings as well as the history, charm and character of Coconut Grove.

During the private event, the developer along with the exclusive sales team, ONE Sotheby’s International Realty, were joined by Mayor Francis Suarez, Commissioner Ken Russell, local architect Max Strang and esteemed guests and brokers to commemorate this momentous milestone for the project. Attendees enjoyed mimosas and breakfast while listening to Mayor Suarez, developer Oscar Rodriguez and ONE Sotheby’s Daniel De La Vega as they discussed the positive impact The Fairchild Coconut Grove will have on the community.

“We are thrilled to share our vision for The Fairchild Coconut Grove and mark this significant occasion with our esteemed guests,” said Oscar Rodriguez, Principal of ROVR Development. “We are raising the bar for luxury waterfront life in Coconut Grove and look forward to being a part of the area’s revitalization and growth.”

“The great thing about a project like The Fairchild Coconut Grove is, aside from the fact that it’s going to enhance the beauty of Coconut Grove, it will deliver a high-end product that will help the entire community,” said Mayor Francis Suarez

The Fairchild Coconut Grove offers the feel of a single family home within a boutique waterfront development. Residences are expansive and feature natural stone floors; lanais with views of Biscayne Bay and verdant neighborhood landscapes; gourmet chef-inspired kitchens; spa-inspired bathrooms; spacious living areas and private outdoor showers in select units. All homes will be pre-wired with Smart technology and Crestron packages.

Amenities are designed by Rafael de Cardenas and include a holistic wellness spa with Hammam, steam room and sauna; high-tech training gym; rooftop pool with private cabanas; and exceptional lobby with full-time concierge, 24-hour security and valet. Lush landscaping complete with serenity gardens, bay walk and jungle rainforest path offer consummate outdoor experiences that include a bayside lounge; sunset deck; outdoor cinema; full-time porter; private on-site dog park; private boat slips; resident bicycles; a floating dock with resident paddleboards; and kayak storage.