Brad Meltzer Named Chairman And CEO of Plaza Construction

Brad Meltzer has been named Chairman and CEO of the New York-based Plaza Construction as long time Chairman and CEO Richard Wood has officially retired. Meltzer is prompted from President and Christopher Mills has been promoted from COO to President. Plaza Construction is one of the largest construction companies and general contractors in Florida and the northeastern United States with over 500 employees spread across Florida, New York, California and Washington D.C. Plaza Construction is owned by China State Construction Engineering Corp's American entity, China Construction America, who acquired the firm in 2014 from New York-based real estate development firm Fisher Brothers. Meltzer will remain based in Miami and Mills in New York City. Both started with Plaza Construction in the New York City office in the 1990’s.

Plaza Construction has built some of the most iconic buildings in Miami such as One Thousand Museum, Biscayne Beach, W South Beach, One Ocean, Marea, Marquis and 1 Hotel & Homes. In New York Plaza Construction has built 99 Hudson Street, 125 Greenwich Street and Madison Square Park Tower, amongst others.

Terra And New Valley Break Ground On Natura Gardens Multifamily Development In Northwest Miami-Dade

Terra and New Valley have broken ground on Natura Gardens, a 27-acre multifamily development encompassing 460 garden-style rental apartments. The news comes approximately one year after the partnership finalized the purchase of a 72-acre development site in northwest Miami-Dade and as the joint venture also completes the sale of the parcel’s remaining 45 acres to Butters and Greystar for $53.5 million. Site work at Natura Gardens is currently underway, with vertical construction expected to take place in Spring 2021. Delivery is anticipated in early 2022.

“Northwest Miami-Dade is experiencing a surge of demand for new residential and commercial development, which is why we initially zeroed in on this parcel as a prime development site,” said Terra CEO David Martin. “Shortly after our JV announced plans for Natura Gardens, we were approached by several developers that shared our vision for bringing new housing options and infrastructure to this part of the County, and that opened the door to selling our originally planned second and third phases of the development site to Butters and Greystar. This is a good example of how forward-looking development that meets market demand can serve as a magnet for new investment in underserved areas.”

Situated along NW 170th Street between I-75 and Florida’s Turnpike, Natura Gardens is located a short drive from several of South Florida’s largest employers, including Boeing, Royal Caribbean International, Preferred Freezer Services, and The Home Depot.

“We were excited to have worked with Terra to complete the vision for this magnificent site and create a balanced sustainable development that will benefit the residents as well as Miami Dade County,” commented Butters Construction & Development, President, Malcolm Butters.

Designed by Pascual, Perez, Kiliddjian Architecture (PPK), Natura Gardens will range from one- to three-bedrooms, measuring between 727 and 1,476 square feet in size. Amenities will include a two-story clubhouse with a resort-style pool and spa; a media room, game room and kids playroom; a children’s tot-lot play area with recreational equipment and electronics charging stations; a state-of-the-art fitness center with yoga, aerobics and spinning studios; co-working spaces and a coffee bar; and a residents-only dog park with site furnishings. Inspired by the area’s natural surroundings, the community will feature lush landscaping, open lawns, lakes and preserves. Residents will also have access to a dedicated walking/running trail throughout the community.

RFR Holding And Tricap Partnership Acquire 12 Units At W South Beach For $10.78 Million

A partnership between Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap, who also co-developed W South Beach, have closed on the purchase of 12 units at the iconic beachfront condo-hotel for $10.78 million. The acquisition was financed with a $6.9 million loan from Citibank and Deutsche Bank and brings the partnership’s holdings to 225 units at the condo-hotel and plans to roll the newly acquired units into the hotel program.

The seller was a group of entities tied to Ralph and Joseph Nakash who initially purchased the units in 2014/ 2015 for roughly $9.85 million. The Nakash family are the owners of Jordache Enterprises which owns the Versace Mansion and Setai Miami Beach Hotel.

The deal was in the spotlight in the summer of 2020 after the RFR and Tricap partnership nearly did not close on the units during the COVID-19 pandemic and sued for their deposit back. The dispute was reportedly solved amicably.

The 20-story, 408-key W South Beach was developed in 2009 and just underwent an eight-month, $30 million renovation. W South Beach is located at 2201 Collins Ave.

Bar Invest Group Acquires 358-Unit Pembroke Pines Multifamily For $79.5 Million

Bar Invest Group, led by Herve Barbera, has acquired the 358-unit The Landings at Pembroke Lakes for $79.5 million, roughly $222,000 per unit. The property traded at a reported 4.5% cap rate and was 95% occupied at the time of sale. The seller was Starwood Capital Group who acquired the garden style multifamily property in 2016. The transaction was completed via an Entity Purchase, which involves transferring the LLC which owns the asset and not the deed, which is used in order to avoid paying documentary stamp taxes. The sale was financed with a $52.88 million loan provided by BankUnited NA. The transaction was overseen by Kaya Suarez and Still Hunter with Walker and Dunlop.

The Landings at Pembroke was developed in 1989 and is located on a 26.6 acre site at 10650 Washing St. in Pembroke Pines. The property features seventeen garden-style buildings with units ranging from one to two-bedroom layouts and from 486 square feet to 1,046 square feet. Bar Invest plans to execute a value add strategy and renovate the property by updating the common areas and apartment interiors. Amenities include a fitness center, pool, grill area, tennis and volleyball courts, racquetball, laundry facilities, business center and on-site management.

Plans for Waves Dania Beach Mixed-Use Project Approved by City Commission

Waves Dania Beach, two tower mixed-use project, has announced that its site plans were passed by the Dania Beach City Commission on Tuesday, January 12, 2020. The approval paves the way for the developer to move forward with planning the two tower development located at 90 N Bryan Road along the waterway. Waves Dania Beach is being developed by Dania Beach Marina Corp. and RJ Marina Holdings and is designed by architectural firm Nichols Brosch Wurst Wolfe. The project is represented by Renee Marie Smith, Esq. of Smith/Barbara. The development site, 90 N Bryan Road, currently houses the Dania Beach Offshore Marina, South Florida’s premier full-service marina and Paradise Tiki of Dania Beach, a family-friendly Hawaiian and Caribbean-influenced restaurant and tiki bar.  

“We are incredibly excited about bringing Waves to Dania Beach. Our team is proud to have been part of the Dania Beach community for over a decade and to have witnessed the community’s incredible growth,” said Renee Marie Smith, Esq. of Smith/Barbara. “Dania Beach is a city on the rise and we’re looking forward to continuing that growth and bringing Waves to the waterfront area.”  

Waves Dania Beach will feature two towers, one tower at 90 Wave and one tower at 70 Wave. Each tower will rise fifteen stories and feature both multifamily residential and commercial units. Each tower spans 651,388 square feet and will feature 380 residential units as well as 19,700 square feet of ground floor commercial space. The residential units range in size from studio to three bedroom residences and the project also offers a unique live/work unit option of office space for residents working remotely. Each tower will also feature two floors of parking for residents and visitors for a combined total of nearly 1,400 spots and the towers will be joined by a ground floor breezeway. Upon completion, the project will offer a blend of dining, shopping and entertainment options in an upscale environment and scenic waterfront experience. 

The project is designed by renowned architectural firm Nichols Brosch Wurst Wolfe (NBWW) architects. NBWW is a world renowned firm internationally recognized in the planning and architectural design of mixed-use centers and world-class hotels and resorts and high-end residential, commercial and retail. NBWW’s project experience includes resort and urban hotels, condo hotels, office buildings, high-rise residential, retail facilities and mixed-use developments. 

The 5.8-acre development site for Waves Dania Beach is nestled along the Dania Beach waterway and offers convenient access to the Intracoastal, Fort Lauderdale-Hollywood International Airport and the Atlantic Ocean. The development is also just steps from Dania Pointe, a bustling hub of shops, restaurants and apartments. The passage of Waves Dania Beach marks an important step in the continuing development of the city’s residential and commercial scenes and in addition to Dania Pointe, Dania Beach is home to several other major corporations including Spirit Airlines future headquarters and pet superstore Chewy. 

Vision Properties Acquires The Cypress Financial Center In Fort Lauderdale For $44.24 Million

The Tampa-based Vision Properties has acquired the Cypress Financial Center in Fort Lauderdale for $44.24 million. The seller was a joint venture between Steelbridge Capital, Square2 Capital and Apollo Global Management and the sale was overseen by JLL’s Herman Rodriguez, Ike Ojala and Matthew McCormack. BSPRT CMBS Finance LLC provided $27.62 million in mortgage financing.

The Cypress Financial Center was developed in 1988 and is located on 2.8-acres at 5900 N Andrews Ave. The office building offers 201,305 square feet of leasable office space with 785 parking spaces. Cypress Financial Center was under contract to be sold when the COVID-19 pandemic hit in March 2020 for $45.5 million to the Toronto-based Slate Office, who ultimately walked away. The selling joint venture acquired the building in 2014 for $32.55 million.

PPG Development Acquires TRYP by Wyndham Miami Bay Harbor Hotel For $30 Million

PPG Development, led by Ari Pearl, has acquired TRYP by Wyndham Miami Bay Harbor Hotel for $30 million, roughly $312,500 per key. The acquisition was financed by a $26 million short-term mortgage provided by Arbor Realty SR. TRYP by Wyndham Miami Bay Harbor Hotel is located in the Bay Harbor Islands at 9540 W Bay Harbor Drive. The waterfront hotel was completed in 2018 and features 96 rooms spread over seven-stories totaling 111,063 square feet. The hotel also features a rooftop pool, bar, ground-floor restaurant, meeting room and fitness center.

The TRYP by Wyndham Miami Bay Harbor Hotel previously faced $25 million foreclosure lawsuit but the case was ultimately dismissed and the mortgage was satisfied.

Tech-Enabled Business Travel Firm 'Mint House' Expands To Downtown Miami

At a time when major operators business travel short-term lease extended stay operators such as Lyric and Stay Alfred are shuttering, Mint House, a tech-enabled hotel company for high-end business travelers, is continuing to rapidly expand despite the COVID-19 pandemic. Mint House recently expanded their Miami operation with the addition of a second location in Downtown Miami, Mint House at Muze at Met.  

Mint House at Muze at Met opened on January 13 after the firm acquired 22 units from previous operator Lyric. The acquisition was driven by a high demand of northeasterners looking to escape the cold and corporate travelers across the U.S. having the ability to work remotely. The brand’s first Miami location, Mint House at Caoba posted solid numbers for December 2020 with 91% occupancy and so far has seen 85% occupancy during January 2021. 

Those staying at Mint House at Muze at Met are greeted with the brand’s signature self-sufficient living elements like contactless check in/check out, keyless entry, customized groceries waiting in the refrigerator upon arrival, laundry in unit, and functional at-home working spaces.

Muze at Met was developed by ZOM Living in 2019 and is located at 340 SE 3rd St. Miami.

E11EVEN Partners And PMG Reveal The 65-Story E11EVEN Hotel & Residences in Downtown Miami

E11EVEN Partners and Property Markets Group (PMG) have launched E11EVEN Hotel & Residences in Downtown Miami’s Park West neighborhood. The project will rise 65-stories and is located at 29 NE 11th Street. E11even Partners is led by Michael Simkins, Marc Roberts, and Dennis DeGori, who own the neighboring E11EVEN Nightclub. PMG is led by Managing Partners Ryan Shear and Kevin Maloney. The project is expected to break ground in late summer 2021.

E11EVEN Hotel & Residences is designed by Sieger Suarez with interiors by AvroKo. The project will feature 375 fully furnished condo-hotel units which range in size from studio to two-bedroom floor plans; in addition, there will also be a Penthouse Collection complete with two Presidential Suites which will each feature a private indoor pool. Units will come equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control; an LED (or water-based) fireplace in the living room; built-inwasher and dryer; and a signature Home Essentials Package, which will include silverware, glassware, linens, sheets, and towels.

Buyers will be able to either choose to live in their unit or put the unit into a hotel program. Sales are being overseen in-house with pricing starting at $385,000.

E11EVEN Hotel & Residences also features a full-suite of turbocharged amenities including a members-only rooftop pool, bar and restaurant dubbed Level 65; a Deepak Chopra-designed spa with meditation room and yoga studio; gourmet food hall; state-of-the-art fitness center; an 8,000 square foot sports lounge; living room lounge with music studio, and an 11th floor 20,000 square foot multi-level E11EVEN Day Club and Pool which will feature cabanas, plunge pools and a 2,000 square foot resort-style pool. Guests will also have access to transportation to and from the E11EVEN Beach Club which will be located on the beach in South Beach’s South of Fifth neighborhood.

For more information about E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Mana Common Partners With Plug And Play To Bring Global Tech Accelerator To Downtown Miami

MANA Common, led by CEO and visionary entrepreneur Moishe Mana, has announced that it will partner with the global innovation platform, Plug and Play, to establish a presence within Downtown Miami’s Flagler District. Plug and Play, based in Silicon Valley, is the world’s largest global innovation platform and investor.

“Miami has always had the components to make it a global technology hub,” says Moishe Mana. “Now that remote work has allowed tech workers and founders to live nearly anywhere, we’re seeing an acceleration of Miami’s emergence as a leading city for tech.”

The collaboration aims to unite the most promising startups with the world's impactful corporations to drive investment, foster innovation, and secure collaborative partnerships across an array of verticals within the Miami tech ecosystem.

This marks the first Miami office for the tech platform, which besides its headquarters in the Silicon Valley has offices in dozens of cities including Paris, Tokyo, Chicago, São Paulo, and Shanghai.

"We look forward to being a dynamic part of the growing tech community in Miami,” says Saeed Amidi, Founder and CEO of Plug and Play. “Our partners will bring their knowledge, expertise, and experience to help our startups grow. Connecting these key stakeholders and industry experts will expedite the digital and cultural transformation in a location ripe for explosive growth. We will work hand-in-hand with Mana Tech to find the founding partners to further develop the tech community.”

For Mana Common, the partnership is one of the first steps in executing their vision for the Flagler District as the economic center of Miami. Mana is Miami’s largest private landowner and their current efforts are focused on their dozens of properties surrounding Flagler Street in Miami’s Downtown core.

“This marks a huge milestone and opportunity for the Miami tech scene,” says Michelle Abbs, Managing Director of Mana Tech, one of the six divisions of Mana Common. “We’ve been actively listening and responding to the local tech community, and we’re excited to deliver a solution like this with Plug and Play who has successfully built complete innovation ecosystems multiple times. It’s the connection that the Miami tech and business communities have been lacking, until now.”

The annual program is designed to host two cohorts per year. Mana Common will co-host the first event with Plug and Play in Miami on February 16, 2021 intended to gather interest from the initial founding members that will jointly work in this project. Miami-Dade County Mayor Daniella Levine Cava, Miami Mayor Francis Saurez, and other corporate partners have confirmed their attendance.

Plug and Play’s platform includes an array of innovation protocols and a curated selection of startups, including the Miami tech entrepreneurs, that will help corporations bridge the gap to bring new products and services to market faster. Plug and Play will offer business development opportunities, mentorship, and networking for startups, investors, and corporations. Twice per year, the founding corporations will choose 10 to 15 startups to benefit from these opportunities.