Kushner Companies Gearing Up To Break Ground On First Miami Projects

Kushner Companies is gearing up to break ground on their first two Miami projects located in Wynwood and Edgewater. The Wynwood project, known as Wynwood 27, will break ground first in Q1 2021 at 127 NW 27th St. and 129 NW 26th St. Wynwood 27 will feature 152-units, 50,000 SF of office space and 34,000 SF of retail space. The project will be followed by Wynwood 28 which will feature 40 residential units, 44,637 SF of office space and 15,800 SF of retail space. Kushner Companies acquired the sites for $32 million in July 2019 in partnership with Block Capital. In March 2020 Kushner Companies obtained $17.55 million in financing for the properties provided by CIT Bank.

The Wynwood project will be followed by the first tower at 1900 Biscayne, a 36-story multifamily building which will feature 393 apartment units. Kushner Companies plans to build 1,100 units over three towers in three phases on the site which includes the adjacent 2000 Biscayne with an estimated total development cost of $550 million. Kushner Companies acquired the site, which is located in an opportunity zone, in March 2019 from Enrique Manhard. It was previously owned by Verzasca Group who had planned a 36-story condo for the site, later changing to a rental concept before selling to Manhard for $13.1 million in 2018.

Miami Worldcenter Gears Up To Break Ground On Two-Story Mixed-Use Building

Miami Worldcenter Associates are gearing up to break ground on a two story mixed-use building around a pedestrian promenade in Miami Worldcenter after city records show that the developers filed for a construction permit on December 1st. Miami Worldcenter plans to have one level of retail on the ground floor and one level of office space on the second floor, totaling 41,164 sq.ft. between the two stories. Construction costs of the new building are estimated to be $8.5 million. Other new construction includes the 7th Street Promenade which is now complete. The 7th Street Promenade is an open-air shopping walkway inspired by European-style and themes of Santa Monica and Lincoln Road. The new building will line the 7th Street Promenade with a large public plaza nearby for outdoor event space.

The Miami Worldcenter master plan, delivering in phases, features an array of residential, commercial and hospitality uses. These include approximately 300,000 square feet of retail, restaurant and entertainment space; the 60-story Paramount Miami Worldcenter condominium tower; Caoba, a 444-unit apartment tower that opened in 2019; a 348-room CitizenM hotel which is now under construction; and Bezel, a 434-unit rental tower by ZOM Living which is also underway. In addition, Hines is preparing to build a new tower that will comprise up to 500,000 square feet of Class A office space and MDM Group is planning a 1,700-room Marriott Marquis hotel and adjacent 600,000 square foot expo center.

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 Virgin Trains’ 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.

SeaGlass Jupiter Island Celebrates Groundbreaking

Fontainebleau Development, LLC, and Perko Development Partners as the local co-development partner, celebrated the groundbreaking of a new oceanfront condominium, SeaGlass Jupiter Island. The condo will feature 21 luxurious residences with unobstructed ocean views and is expected to be completed in fall 2022. Attendees of the ceremony included: Jeffrey Soffer, Fontainebleau Development chairman and CEO; Bruce Weiner, Fontainebleau Development COO of Residential; Jim Cohen, Fontainebleau Development president of Residential; and Phil Perko, founder and president of Perko Development Partners. 

SeaGlass Jupiter Island is designed by architect Robert M. Swedroe of Swedroe Architecture. The residences will be designed with private terraces, outdoor kitchens, 10-foot ceilings and sweeping panoramic views of the ocean. A fob-controlled elevator will lead to a private entry foyer in each residence. Amenities include an oceanfront infinity pool, heated relaxation spa, fitness center, yoga and meditation lawn and two-story lobby. 

SeaGlass Jupiter Island is located at 1500 Beach Road, situated between the Atlantic Ocean and Intracoastal Waterway on Jupiter Island in the village of Tequesta. Sales for the exclusive condo launched in May with prices ranging between $5.9 million to over $10 million.

The Estate Companies Acquires Site For Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), has closed on the future site of Soleste NoMi Beach in North Miami Beach for $13.1 million. The project was approved in September 2020 and was designed by Form Group. The 1.78-acre site is located at 16395 Biscayne Blvd. and currently features an 8,249 square foot retail building which will be demolished. The seller was Biscayne Cove LLC, an entity managed by Enrique R. Puig, and the deal included $1 million in seller financing. When complete, Soleste NoMi Beach will rise 23-stories and will feature 367 apartment units, 2,708 square feet of commercial space and 655 parking spaces. Amenities will feature a pool deck, spa, fitness center, co-working space and a landscaped rooftop garden.

The Tampa EDITION Launches Sales Center At Water Street Tampa

The Residences at The Tampa EDITION have recently launched sales for the city’s first five-star hotel-brand inside Water Street Tampa. The project was developed by Tampa-based firm Strategic Property Partners. The new sales gallery opening will allow buyers to view residences’ interiors and layouts first-hand for the 37 residences featured in the building. The Tampa EDITION will be the third EDITION Residences offered around the World. 

"We are thrilled to introduce this unmatched residential offering to Tampa,” said Bob Glaser, CEO and President of Smith & Associates, the brokerage responsible for residential sales at The Tampa EDITION. “Serviced by the world-renowned EDITION brand and providing immediate access to the best shopping, dining and cultural institutions the city has to offer, The Residences at The Tampa EDITION are unlike any other product in the history of Tampa. It’s gratifying to see such an incredible response from the market, as well as the enthusiasm from our buyers who recognize how special these homes are.” 

The Tampa EDITION features luxury condos by world-renowned architecture firm Morris Adjmi Architects. Interiors are inspired by AD 100 design firm Roman and Williams. Residences will offer indoor-outdoor living with expansive floor-to-ceiling windows and sliding glass doors leading to wraparound terraces. Residences will also have access to private amenities and residential services programmed by The EDITION. Amenities include a residents-only fitness center, social kitchen and lounge, private residential lobby access, private residents’ elevators and a residential Lifestyle Manager. Residents will also be able to enjoy EDITION Hotel benefits including a rooftop terrace, pool, and priority access to reservations at the restaurants. Residences will begin on the 10th floor situated above the 172-key EDITION Hotel. The building will have views of Hillsborough Bay and Downtown Tampa. 

The Tampa EDITION is located in the neighborhood connecting Tampa’s central business district with its waterfront. Construction is well underway and the first contracts for The Residences are already being signed. Pricing for available residences starts at $2 million. Smith & Associates will be the exclusive sales agent representing The Residences at the Tampa EDITION. 

East End Capital Receives Approval For Kobi Karp-Designed Co-Living Project, FOYER Wynwood

East End Capital, led by Jonathan Yormak, received approval from Miami’s Planning & Zoning Department for FOYER Wynwood on December 1. FOYER Wynwood is a co-living, mixed-use project at 2400 North Miami Ave. which is now pending a construction permit and demolition permit for remaining structures on the site. FOYER Wynwood is designed by Kobi Karp Architecture & Design and when complete will feature 375,000 SF of total development splits between 236 apartment units, 12,528 square feet of retail, 7,497 square feet of restaurant space and 400 parking spaces.

FOYER Wynwood will feature affordable co-living and micro-unit options in the apartment portion, together with co-workspaces and other amenities. In conjunction with the development, East End has launched the new “FOYER” brand to operate and manage this project as well as all the other co-living apartment projects in its pipeline.

All FOYER projects will include high ratios of furnished micro-units and co-living bedrooms with ensuite bathrooms, together with traditional studio, one- and two-bedroom units. Monthly rents for co-living bedrooms at FOYER Wynwood, which include the furnishings, electricity, common area cleaning, and WiFi, are expected to start around $1,500 per month.

FOYER Wynwood will also offer an abundance of shared amenity space, including a gym focused on functional training, a juice and coffee bar, an expansive pool deck, a chef’s kitchen and entertainment space, collaborative co-working and art studio areas, and state-of-the-art podcast and green-screen studios.

FOYER Wynwood will continue the renaissance occurring along North Miami Avenue, and is located near notable attractions such as Veza Sur Brewery, The Wynwood Arcade, Oasis, The Salty, and the planned Arlo Hotel. Construction is expected to commence in early 2021.

Ten30 South Beach Hosts Socially Distant Party To Celebrate Top Off

Shoma Group officially topped off construction at Ten30 South Beach, a luxury boutique condominium scheduled to open in 2021. The developer teamed up with the project’s exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. The topping off ceremony included real estate brokers, VIPs, community leaders and partners in the project invited to a socially distanced cocktail party with music and hors d’oeuvres. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be one step closer to completion. Seeing Ten30 begin to take shape is a stunning moment for our team as it underscores the continued progress as we bring this compelling project to life,” said Masoud Shojaee, President and CEO of Shoma Group. “We look forward to delivering Ten30 South Beach and welcoming our residents in the new year.”

Ten30 is a four-story building that features 43 residences built in a mid-century modern design. Residences range from studios up to two-bedroom units. Amenities will include a 6,000 sq.ft. rooftop deck, a rosé-colored pool, outdoor kitchen area, BBQ stations and an extensive gym. 

“Ten30’s contemporary residences offer buyers a truly refined and elevated living experience with thoughtfully designed layouts in the heart of South Beach,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We’ve continued to see a strong interest from prospective buyers locally, internationally and particularly from the Northeast, and we look forward to continuing our forward momentum.” 

1030 15th Street is located just minutes away from Lincoln Road, Sunset Harbor and Flamingo Park. The project is a unique luxury retreat compared to the high-rise condos surrounding South Beach.

PMG Reveals MKDA-Designed Society Wynwood After Acquiring Final Piece of Assemblage For $11.5 Million

Property Markets Group (PMG) and Greybrook Realty Partners have submitted their plans for Society Wynwood for approval by the Wynwood Design Review Committee after acquiring the final piece needed for their 1.93 acre assemblage. The JV between PMG and Greybrook acquired 2407 NW 2nd Ave. for $11.5 million from a JV between RedSky Capital and JZ Capital Partners. The PMG and Greybrook JV acquired 1.6-acres at 2421-2455 NW 2nd Ave. in August 2019 for $46 million from the Doris D. Friedopfer Trust. Society Wynwood is part of PMG’s social community initiatives and when complete will span 522,008 square feet.

Society Wynwood will include 326 residential units, 41,258 square feet of retail space, 211 parking spaces and a 3,980 square feet underground lounge. The unit breakdown includes 96 studios spanning 410 square feet, 30 one-bedroom units spanning 654 square feet, 72 two-bedroom units spanning 780 square feet, 114 three-bedroom units spanning 1,190 square feet, and 6 four-bedroom units spanning 1,370 square feet. The building is designed by MKDA and features an interior courtyard, rooftop bar and restaurant, rooftop pool and spa deck with an outdoor theater, yoga area and BBQ area. The project will also feature murals on the side painted by Alexandre Farto, paying homage to Wynwood’s street art culture. Additionally, PMG will contribute to the Wynwood Public Benefit Trust Fund in exchange for a parking reduction of 192 parking spaces. The transit oriented project already benefited from a 30% parking reduction due to proximity to public transportation.

Scott Sherman’s Tricera Capital has a deal to acquire the commercial spaces upon completion of the project. PMG plans to break ground on Society Wynwood project in early 2021.

Over 6 Months Terra Signed Nearly 60,000 Sq.Ft. In New South Florida Retail Leases

Terra has been one of South Florida’s most active in real estate development through the pandemic. Within the last 6 months Terra has signed nearly 60,000 sq.ft. in new retail leases across Miami-Dade and Broward Counties. Newly signed tenants include Verizon Wireless, AT&T Wireless, Mister 01 Pizza, Panda Express, Pilates Zone and more. Terra is a residential and commercial development firm and investment company that enhances neighborhoods to connect people and better the community. Courtelis Company oversees the leasing and property management for Terra’s portfolio. 

“Because COVID-19 has made a tremendous impact on the economy and will continue to reshape the market as we know it, we are committed to listening to our neighbors, collaborating with partners, and creating developments that are naturally woven into the community,” said David Martin, CEO of Terra. “We anticipate a continued need for lifestyle-centered developments that will serve at the pulse of South Florida’s neighborhoods featuring restaurants and retailers, as well as essential services such as grocers and local businesses that cater to the everyday needs of surrounding residents.” 

 “In addition to signing new leases, we’re focused on helping consumers navigate our retail centers in a responsible and efficient manner,” said Rod Castan, president of leasing and management for Courtelis Company. “We’ve provided tenants with access to take-out/short-term parking spaces, ample outdoor seating, cueing areas and temporary signage to increase tenant visibility. Although it’s been a challenging year, the hands-on approach has remained the best way for us to conduct business and maintain relationships with our retailers.”

Terra’s newly signed leases at retail developments in South Florida include: 

• 16000 Pines Market: A 135,000 sq.ft. mixed-use retail development that is now underway and is located in the City of Pembroke Pines. Publix Super Markets is the anchor tenant and has signed a 23,168 sq.ft. lease. Additional leases are signed by Verizon Wireless and Everglades Family Dental.

• Doral Square: Located in the City of Doral is the 150,000 sq.ft. retail center. Ross Dress fo Less is the anchor tenant and has signed a 24,147 sq.ft. lease. An additional lease is signed by Panda Express.

• 2811 Coral Way: Located in Miami is the newly completed mixed-use retail/self-storage development. Businesses with finalized retail leases include Pilates Zone, La Roche Beauty Salon, AT&T Wireless, and dental orthodontics laboratory Arcadlab.

• Pines City Center: Located in the City of Pembroke Pines is the 150,000 square foot mixed-use lifestyle development that spans across 47-acres and is opening their second phase of retail. A 1,525 sq.ft. lease is signed with Mister 01 Extraordinary Pizza that represents the modern pizza chain’s first Broward County location. The development’s first phase included a a Publix Supermarket.

Tricera Capital, LNDMRK and Related Group Break Ground On The Dorsey In Wynwood

The Related Group, Alex Karakhanian’s LNDMRK Development, and Scott Sherman’s Tricera Capital have broken ground on The Dorsey in Wynwood. The Dorsey is a mixed-use project which will rise 12-stories and will feature 306 apartment units; 35,000 SF of retail; 70,000 SF of office and 476 parking spaces. Units will range in size between 500 and 700 square feet with some micro-units in the 400 square foot range. The project was designed by Arquitectonica and will be located along one of the planned Woonerfs as part of Wynwood’s new ArquitectonicaGEO-designed streetscape, which open up space for pedestrians while also allowing car access.

“We are proud to partner with Related and Alex karakanian on this mixed use project in the most dynamic and growing neighborhood in Miami,” said Scott Sherman of Tricera Capital.

The Dorsey will be built at the site of the former Coca Cola plant and was previously owned by Thor Equities and Rockwood Capital who had proposed a Touzet Studio-designed project. The JV, which purchased the 2-acre site in late 2019 for $32 million, demolished existing buildings on the site, some of which were originally built in the late 1920’s including the former Coca Cola plant. The Dorsey will be located at 280 NW 28th Street.