Miami Worldcenter Delivers Its First Tower As CAOBA Apartment Tower Launches Leasing In Downtown Miami

Miami Worldcenter, the 27-acre, $4 billion development in Downtown Miami, is preparing to welcome its first residents after 15 years of land acquisitions, planning and construction. The 444-unit, transit-oriented CAOBA rental tower has received the green light to welcome tenants and with the launch of leasing has become the first building to deliver within the master-planned Miami Worldcenter project. The opening of CAOBA is the first in a string of milestones that will take place at Miami Worldcenter in 2019. Over the coming months Paramount Miami Worldcenter, the only condominium for currently for sale in Miami Worldcenter, will be completed; the 348-room citizenM hotel will break ground, and 150,000 square feet of retail space deliver. CAOBA was co-developed by CIM Group and Falcone Group.

CAOBA’s apartments range from studios to 3-bedroom units which range in size between 500 SF and 1,300 SF. Monthly rents range from from $1,775 to $4,275. Units feature 9’ ceilings, contemporary finishes, in-unit washers and dryers, and private balconies offering sweeping views of Biscayne Bay and the Miami skyline. Amenities at CAOBA including a 10th-floor resort-style pool deck overlooking downtown, a rooftop fitness center, a club room with a fully-equipped kitchen, and an outdoor dog-walking lawn. CAOBA also offers more than 20,000 SF of street-level retail space that will be home to shops and restaurants creating an east-west pedestrian promenade linking Miami Central with Miami Worldcenter’s ‘High Street’ retail component and public plaza to the east as well as six transit systems located within one block of the tower.

“As the first tower to deliver at Miami Worldcenter, CAOBA is a cornerstone of our city within a city,” says Nitin Motwani, managing principal of Miami Worldcenter Associates. “CAOBA residents will be living at the intersection of arts, entertainment, education, retail and transit — introducing an element of convenience, proximity and walkability that is new to Miami. Our team has received countless inquiries from people interested in renting a luxury apartment at Miami Worldcenter, and they now have a chance to do just that as we open the doors at CAOBA.”

The Related Group, Block Capital and Kravitz Design's Rental Project The Bradley Tops Off In Wynwood

Leading national developer, The Related Group, and Block Capital Group has announced the top-off of the Wynwood neighborhood’s newest residential project, The Bradley, located at 51 Northwest 26th Street. The Bradley will offer 175 studio-, one-, and two-bedroom units which range from 480 SF to 1,000 SF and over 32,000 SF of commercial space. Rents are projected to start in the low $1,400s per month, with the majority of rents totaling less than $2,000 per month. Residences feature Italian kitchens and vanities, stainless steel appliances, in-unit washer and dryer, walk-in closets and a convenient, keyless entry system. The Bradley was designed by Arquitectonica in collaboration with creative direction from Kravitz Design, founded by Grammy-Award-winning artist, Lenny Kravitz. Completion is slated for late 2019.

“There is already an incredible momentum in Wynwood, but it is thoughtfully developed projects like The Bradley that will help the neighborhood reach that next level,” explains Jon Paul Pérez, Vice President at Related. “There has been a noticeable increase in real estate activity since we began construction and I expect the pace of commercial leases, groundbreakings and new project announcements will continue to rise as we approach completion. Our whole team is eager to see how the neighborhood evolves over the next few years.”

Amenities include speakeasy-inspired common areas, 24/7 concierge, a rooftop terrace is adorned with an expansive pool, a covered amenity deck with city views and an outdoor kitchen with barbeques and a formal dining area, a world-class fitness facility and health club serving both residents and their guests, bicycle storage, and 233 space garage with gated entrance. All building amenity spaces offer high-speed internet and cell service options for dedicated wireless connections in addition to a wide collection of curated artworks and site-specific murals from a variety of local and international artists. The Bradley will also bring 32,000 SF of retail and restaurant space to the neighborhood with expansive pedestrian walkways, complete with high-quality design and landscape elements.

“Every detail of this project, from its physical location to in-unit amenities, were built with the renter in mind,” says Martin Miculitzki of Block Capital Group. “We want future residents of Wynwood to have an outstanding, unparalleled experience from the moment they walk through the front door of The Bradley. We are proud to partner with Related and attract international attention to this vibrant, revitalized neighborhood.”

The Related Group has three additional properties in the art-filled neighborhood including Wynwood 25, a 289-unit rental property which recently completed vertical construction; The Annex, a 50,000 SF office and retail development; and Wynwood 29, a 182-unit micro condo development.

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

Construction On Esplanade At Aventura Now Underway At Aventura Mall

The New York-based Seritage Growth Properties has begun construction on the first phase of Esplanade at Aventura, the 215,000 SF ground-up development featuring experiential retail, unique entertainment and fine dining in a luxurious open-air high-street retail setting on the 12.3 acre site of the former Sears store at Aventura Mall. Once completed, the esplanade will offer a diverse mix of leading domestic and international retailers and restaurants, many of which will be new to the South Florida market, creating a world-class attraction for residents and visitors. Esplanade at Aventura is designed by SB Architects and Rockwell Group, which will feature a pedestrian boulevard, large outdoor plazas, as well as multiple patio and rooftop dining and entertainment areas. The project will also bring a new parking garage. Seritage Growth Properties is a publicly traded real estate investment trust which split off of parent company Sears in 2015. Seritage Growth Properties owns over 230 Sears properties nationwide, many of which they lease back to the struggling retailer. In 2016 Seritage Growth Properties sued Aventura Mall over the $214 million expansion which they claim violated a long-standing agreement but the case was settled and mall expansion is now nearly complete. Esplanade at Aventura is scheduled to open in late 2019.

For more information about Esplanade at Aventura, private showings or purchasing/ leasing information please fill out the form below:

PMG, Greybrook Realty Partners & S2 Development Lock Down $33 Million Pre-Construction Loan For Waldorf Astoria Hotel & Residences

Property Markets Group, Greybrook Realty Partners and S2 Development have locked down a $33 million pre-construction loan which will be financed by the Miami-based BridgeInvest. The financing will be used to obtain final permits and approvals as well as market the property and launch sales of the residential luxury condominium component. The developers are currently building out the on-site sales center at 300 Biscayne. PMG had initially put sales on hold pending the Miami condo market stabilizing but now is gearing up introduce the luxury condos to the market.

When complete the Waldorf Astoria Hotel & Residences will be Miami’s tallest tower, rising 1,049’. The tower is being designed by Sieger Suarez and is expected to have a sell-out over $1 billion. The Waldorf Astoria Hotel & Residences will feature 140 hotel rooms and 400 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc. Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others.

For more information about The Waldorf Astoria Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Asian & Japanese-Inspired Cocktail Lounge Kaido Opens In Miami Design District

Kaido, an Asian and Japanese-inspired cocktail lounge, is now open in Miami Design District’s Paradis Plaza. Kiado is a collaboration between Miami-star Chef Brad Kilgore and Mixologist Nico de Soto, where they have transformed the second-floor lounge into an intimate Tokyo-inspired bar with indoor and outdoor terrace lounges overlooking Paradise Plaza. Kaido will offer a tasting menu in a non-traditional dining setting offering guests a different experience each visit. Nico de Soto personally created the unique cocktail menu that seamlessly and playfully incorporates the restaurant’s Asian creative inspiration. Kaido’s build-out was designed by Mark Alan Diaz of MAD Designs who brought an edgy, Tokyo-style vibe to the 12-seat bar including deep colors with gold accents and a custom made 1,200 Butterfly knife chandelier. Kaido is now open at 151 NE 41st Street, Suite 217.

Avison Young's Florida Capital Markets Group Oversees FPL In $33 Million Sale Of ±71-Acre Development Site In East Miami-Dade

Avison Young’s Florida Capital Markets Group has negotiated the $33 million sale of a ±71-acre trophy development site on behalf of Florida Power & Light (FPL) at 6525 SW 152 St., positioned at the 67 Ave. and 148 St. intersection, in Miami-Dade County’s Palmetto Bay, Florida. Avison Young Principals Michael T. Fay, who is also Managing Director of the firm’s Miami operations; John K. Crotty, CCIM; David Duckworth; Senior Vice President Jay A. Ziv; and Senior Associate Brian de la Fé completed the disposition of the property to developer Oscar Barbara, CEO and Chairman of LUXCOM.

“The 71-acre land parcel is the largest most recently on the market east of US-1 and is as close to a developmental anomaly ever presented in Miami-Dade County,” said Fay. “The site is ideally positioned adjacent to Deering Bay Yacht and Country Club in the foremost area of Palmetto Bay’s residential section and is the last major waterfront property with direct access to the ocean with no bridges and a marina basin in the entire county. Interest was brisk from local, national, and international investors. Ultimately, we successfully secured a mutually beneficial deal with a local buyer.”

Melo Group Launches Pre-Leasing For Art Plaza Apartments In Downtown Miami

The Melo Group, one of Miami’s most prolific residential developers who have quickly transformed Downtown Miami and its Arts & Entertainment District, have launched pre-leasing for Art Plaza, a transit oriented, community minded 667-unit apartment complex walking distance from the School Board Metro Mover Station. Located in the burgeoning downtown Miami Arts & Entertainment District, the 34-story, two-tower Art Plaza will offer one- and two-bedroom apartments which range in size from 760 SF to more than 1,300 SF, with monthly rents starting at $1,600. Art Plaza has topped off construction and is slated to deliver to market in mid-2019. Building amenities will include a resort-style swimming pool and pool deck, Jacuzzi, fully-equipped fitness center, valet service, available covered garage parking, security control remote access and a social room for residents – plus on-site services provided by another 15,000 square feet of ground-floor retail and restaurants. The opening will cap off phase three of a four phase plan that will deliver more than 2,300 market-rate apartments in Miami’s urban core.

“Although our renters are diverse,” says Melo Group principal Carlos Melo, “we’re seeing strongest demand coming from millennials who prefer 24-hour, live-work-play environments over long commutes. We look for sites within easy walking distance of public transportation as well as shopping and entertainment venues. Both projects, for example, are just steps away from the Metromover, providing easy access into Downtown Miami’s CBD and Brickell Financial District.”

As a community-minded real estate developer, Melo Group has made a concerted effort to build for local and regional market demand, bringing nearly 5,000 market-rate rental and luxury condominium residences to market over the past decade. Next-door to Art Plaza, Melo’s Square Station apartment tower, which opened May 2018, has seen is 710 units approach full occupancy. A fourth development, the 425-apartment Miami Plaza, is planned nearby, bringing the total number of market rate apartments that the development firm has brought to downtown Miami’s Arts & Entertainment District to nearly 2,300. Melo kicked off development in the district in 2016 when it delivered the 497-unit Melody apartment tower. In addition to market rate apartments, the three developments are also bringing more than 40,000 square feet of street-level retail space that will be populated with restaurants, shops and services catering to nearby residents.

“The Arts & Entertainment District’s concentration of attractions – from world-class cultural venues to dozens of dining and shopping choices – cater to every taste,” says Melo Group principal Martin Melo, “as does the district’s proximity to other hot neighborhoods such as Wynwood, Miami Design District and Midtown Miami. We also have an exciting collection of ground-floor retail at Square Station, including Bunbury, a popular bar and lounge that is relocating here; The Spot, a high-end barber shop; Testa Rossa Deli; a sports bar and Cucinova.”

APEX Capital Realty Signs First Two Tenants At URBAN 75th STREET In Little River

APEX Capital Realty, led by Miguel Pinto, has just signed the first two tenants at URBAN 75th STREET, an innovative warehouse complex located at 300-320 NE 75th Street in Little River. PIXIE Market, a Los Angeles-based fashion e-commerce company, signed a 5-year lease for 3,500 SF in the 320 building and plans to move in January 2019. PIXIE Market relocating its LA operations to Miami and selected the industrial space to expand its e-commerce business. Marvol JPS , a Miami-based mobile phone equipment and supplies company, has also signed a 5-year lease for 2,500 SF space at the 320 warehouse building and plans to move in January 2019.

APEX Capital Realty recently acquired the 71,200 SF warehouse complex, located at 300-320 NE 75th Street in Little River, and developed the space focused on a flexible business space concept. Little River has been a hotbed for commercial development as prices in Downtown neighborhoods such as Wynwood continue to rise. URBAN 75th STREET is an innovative warehouse complex that has been redeveloped into a flexible multi-business space concept offering 24 industrial spaces which range from 2,500 SF to 3,350 SF and primed for tailored tenant build-outs which can be curated to meet the different workspace needs of each tenant and their diverse businesses. Each space offers an open loft style format, each division equipped to function as a live/work space as well. The leasing prices start at $19 SF modified gross lease. Perks for tenants include an on-site gated parking and state of the art 24/7 voice control security monitoring.

For more information about URBAN 75th STREET, private showings or leasing information please fill out the form below:

Related Group Sells SLS Brickell Hotel For $43 Million

The Related Group has sold the hotel component of SLS Brickell for $43 million to an entity managed by Francois Faber of Fiduciaire Fernand Faber, who has also signed an agreement with SBE for the continued management of the property. The 55-story development, which was completed by Related Group in 2016 and designed by Arquitectonica, features both a condo component with 450 condos and a hotel component which features 124 hotel rooms. The sale accounts to roughly $347,000 per key, with the rooms designed by Philippe Starck. The building also houses celebrity chef José Andres’ Bazaar Mar and Fi’lia by Michael Schwartz. Other amenities include a gym, spa, 10th floor pool deck, theater room and concierge services. The sale marks the second SBE managed hotel sale by Related Group this development cycle after it sold the Hyde Midtown hotel to Haim Yehezkel’s Midtown Hotel Investment LLC for $21.8 million in April 2018.

Gensler-Designed Wynwood Office Project 545Wyn Gears Up To Break Ground In January

The Chicago-based Sterling Bay is gearing up to break ground in Wynwood on their Gensler Architects-designed 545Wyn office project. Groundbreaking is set for January 2019. When complete, the development will be the biggest office building to launch in Wynwood rising 10-stories and bringing 298,000 SF of office space along with 26,000 SF of retail to the neighborhood. 545Wyn will also feature an 8,000 SF park, outdoor space on each floor and 442 parking spaces. Sterling Bay received a demolition permit in early December 2018 to demolish the existing buildings on the site which is located at 537 NW 26th Street, which is now underway.

For more information about 545Wyn or purchasing/ leasing information please fill out the form below: