Glasshaus Coconut Grove Is Now 30% Sold, To Break Ground in January

Glasshaus Coconut Grove, which is being developed by GD.8 and Element Development, LLC. and designed by Varabyeu Partners, is expected to begin construction in January. The boutique condo-building is reportedly 30% sold, with 7 of its 23 residences under contract. The project will rise 5-stories and residences start at $595,000 and range up to $1.2 million, equating to around $575 SF. Units come 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 2018. 

SHOMA Group Celebrates Unveiling of The Sales Gallery at Eleven On Lenox With South Beach Soiree

Sales are officially underway at SHOMA Group's luxurious Eleven on Lenox in South Beach after the developer hosted a swanky South Beach-style Soiree to officially open the on-site sales gallery (November 2, 2017). SHOMA Group is one of South Florida’s most prolific real estate development firms with a nearly three-decade track record of successfully delivering developments. More than 200 of the Miami’s leading real estate brokers and VIPs joined Masoud Shojaee, President and Chairman of SHOMA Group, in commemorating the luxurious coastal retreat, comprised of 11 beach-inspired homes in the heart of South Beach.
 
Guests at the Eleven on Lenox sales gallery premiere enjoyed VIP treatment, which included an exotic, living wall step-and-repeat, champagne bottle service and tunes by resident South Beach DJ YSL. The event also provided a first look at the project’s refined finishes designed by five-time Architectural Digest’s Top 100 Interior Designers, Charles Allem and scale model created by internationally recognized firm, Zyscovich Architects. The developer announced that brokers will receive 50% commission immediately after the rescission period, which was followed by a champagne sparkler parade and confetti shower, which closed the event in true South Beach style.

First Units Begin To Close At The Newly Completed Echo Brickell

Brickell Avenue's newest luxury high-rise from Property Markets Group and JDS Development Group has been completed and closings are now underway. The first unit to close was unit 1006, a 2 bedroom unit with 1,1110 SF of interior space and a 465 SF balcony, which closed for $560,900, roughly $510 SF. It is currently available to rent on the MLS for $3,100 along with another 5 units which appear to have closed and listed for rent priced from $2,200 to $4,500 /mo. PMG and JDS first began work on the 57-story, 637' Echo Brickell in October 2014. The tower was designed by Carlos Ott with Cohen, Freedman, Encinosa as well as is a limited edition design collaboration between Carlos Ott with interiors by the yoo Studio to create Carlos Ott + yoo. Echo Brickell features 1, 2, 3 and 4 bedroom layouts which range in size from from 610 SF to over 4,300 SF (penthouse). Residence's include smart home technology, summer kitchen, 8' terraces, marble floors and Italian cabinetry. The residences are matched with high-end amenities including an infinity edge pool with bay views & poolside service, hot tubs, fitness center, valet and 24 hour concierge and security. 

Construction Update: Arbor Breaks Ground in Downtown Coconut Grove

Arbor has officially broken ground in Coconut Grove after they demolished most of the existing structure that previously stood on the property located at 3034 Oak Ave. Arbor is being developed by Urban Atlantic Group and Oak Ventures, LLC. Arbor. The boutique condomoinium building is an eco-living inspired development that will rise 5-stories and feature 52 units. The building is being designed by Behar Font & Partners with with interiors by Samauel Amoia and landscape design by Witkin Hults and Tyler Nielsen. Units will come in 2 and 3 bedroom layouts and range from 1,400 SF to 2,000 SF and will come delivered with tile floors and top-of-the-line appliances. Duplex loft and townhome style units will feature 20' ceilings while the rest of the units will get 10' ceilings. There will also be 4 penthouses with private balconies. Amenities include a courtyard pool deck with pool and grilling areas along with a "bicycle concept," which will allow residents to store, share and service their bikes. Units start at $799,000 targeting families that have been priced out of the Coconut Grove market but still want to live in the residential community. Urban Atlantic Group is headed up by Nick Hamann and Oak Ventures by Jeremy Waks. Sales will be overseen by Douglass Elliman as the exclusive sales broker for the project. The sales gallery just opened and the developers already expect to deliver the project in Fall 2018. 

Check-out PROFILEmiami's interview with Nick Hamann of Urban Atlantic Group and Jeremy Waks of Oak Ventures, LLC. discussing Arbor and Coconut Grove. 

Thor Equities Officially Begins Construction on Wynwood Walk After Locking Down Construction Financing

Thor Equities, a global leader in urban real estate development, leasing and management, have broken ground and officially commenced construction on Wynwood Walk (November 2017) after locking down construction financing from Bank of the Ozarks. Wynwood Walk will run the entire block from NW 29th Street to NW 28th Street near Wynwood’s northern entrance, and will bring the fast-growing neighborhood approximately 63,000 SF of new retail and restaurant space. Wynwood Walk is being developed by Thor Equities and is designed by Oppenheim Architecture. Thor plans to build a new-two story building with 20,400 square feet of commercial space and renovate three existing warehouses with another 36,884 square feet of commercial space on the property it owns between Northwest 28th Street, Northwest Second Avenue and Northwest 29th Street. The project will include a green rooftop, a paseo, 300' of retail frontage on NW 2nd Avenue, and a landscaped terrace with outdoor seating.

“We are excited to begin construction on this premier development situated in the heart of the Wynwood Art District, which continues to draw hundreds of thousands of visitors each year to its numerous galleries, open-air street art installations, retail stores, bars and restaurants,” said Joseph Sitt, CEO of Thor Equities.

Check-out PROFILEmiami's coverage of Wynwood Design Review Committee approval of Wynwood Walk from May 2017.

Construction Update: Metronomic's Crowdfunded Plaza Celia Breaks Ground in Little Havana

Plaza Celia, a new boutique mixed-use apartment building in Little Havana named after the late Cuban-born singer Celia Cruz, has officially broken ground. Plaza Celia will rise 4-stories and will feature 16 rental apartment rental units targeted at students and the local workforce with ground-floor retail. Units will come in 1 and 2-bedroom floor-plans and will range in size from 700 SF to 905 SF. Plaza Celia is located at 2640 SW 12th Street and is being developed by Metronomic, Inc. Metronomic, Inc. has been making waves in recent years with their business model of crowdfunding projects. Currently, Metronomic has 2 projects under development via crowdfunding, GroveHaus in Coconut Grove and Plaza Celia. Essentially, Metronomic identifies a development and goes under-contract for the land while developing the project. They then advertise the project on their crowdfunding platform to raise commitments for the crowdfunded financing from individual investors. Once they reach their dollar goal of crowdfunded investment, Metronomic simultaneously closes on the land, crowdfunded financing and additional financing previously committed by private lenders. In 2013 the Securities and Exchange Commission opened the prospects of crowdfunding to real estate investors via the JOBS Act. The JOBS Act stipulates that developers can solicit funds from the public, provided that the investors are accredited, meaning that they have a newt worth over $1 million or make in excess of $200,000 annually. Construction on Plaza Celia is expected to wrap up in Q4 2018. 

MG Developers Receives TCO And 100% Sell-Out At 444 Valencia, Nears Completion On Biltmore Parc

MG Developer, a Coral Gables-based niche luxury boutique developer, has announced that 444 Valencia is the first of a number of their Coral Gables-based projects to secure TCO and is 100% sold out. The townhouse community is located at 444 Valencia Avenue, Coral Gables, and distinguishes itself through striking design elements in each residence. 444 Valencia was designed by Nelson de Leon at Locus Architecture, a well-recognized Coral Gables-based architecture firm. The project features 3- and 4-bedroom, three-story units that are approximately 4,500 SF, and priced from $1.8 to $2.2 million. Each unit includes a four-car garage, a feature that has proven very appealing to individuals with multiple, or ‘trophy,’ vehicles that must be garaged, among numerous other amenities.

Closely behind is Biltmore Parc, a 32-residence luxury condominium community located at 718 Valencia Avenue. Biltmore Parc has completed construction and is in the process of securing TCO. It is almost 50 percent sold. Biltmore Parc features 2- and 3-bedroom condominiums with dens, and large expansive terraces featuring Nanawall folding glass. It also offers owners a Premier Membership at the historic Biltmore Hotel’s club. T.A. Builder, a top general contractor based in Coral Gables, leads the high-level construction for Biltmore Parc, while Bellin & Pratt Architects, also based in Coral Gables, were the visionaries behind the architectural design. Artefacto provided the finishing touches and design for the development’s stunning lobby. Biltmore Parc is being marketed exclusively by Fortune International Realty.

“Reaching these important milestones, both for the remaining units at 444 Valencia and Biltmore Parc, reflects the demand for newer luxury niche products in Coral Gables,” said Alirio Torrealba, Chief Executive Officer of MG Developer. “We look forward to continuing the sales process with the now-completed Biltmore Parc. The decision to finalize construction before finalizing sales is an approach that we have embraced, and one that reflects our confidence in Coral Gables.”

“The suite of niche properties offered by MG Developer has something for every discerning buyer looking for a boutique-style luxury residence in the heart of the Gables, be it condominium or townhouse,” adds Jenny Ducret, Chief Operating Officer of MG Developer.  “All of our developments are within walking distance to many of the city’s historic attractions, as well as the main shopping and dining districts of Coral Gables.  We are confident that each of these developments meets the needs of those buyers looking for a home that provides ultimate luxury, comfort, and convenience in a beautiful city.”

Construction Update: PARAMOUNT Fort Lauderdale Completed, 56 Units Already Closed

PARAMOUNT Fort Lauderdale has been completed and closings have already begun. 56 units have closed so far in the building which is set to sell out for $210 million. PARAMOUNT Fort Lauderdale is being developed by Dan Kodsi, Art Falcone and Nitin Motwani who launched sales in 2014. The 18-story luxury condo tower features 95 units, of which 3 units remain, including two penthouses asking $9 million and a unit on the amenity level asking $2.8 million. Residences are priced form $1 million to over $9 million for penthouse units and they range from 1,910 SF to 3,500 SF. Penthouse units feature private pools and over 6,000 SF of outdoor space. Amenities include a lounge, club room, massage and steam room, oceanside restaurant, poolside bar and cabanas, gym and outdoor summer kitchen areas. PARAMOUNT Fort Lauderdale was designed by Revuelta Architecture with interiors by ID & Design International. Bank of the Ozarks financed the project with a $63.6 million construction loan. PARAMOUNT Fort Lauderdale is located at 701 South Atlantic Boulevard on Fort Lauderdale Beach. 

Construction Update: The Astor Companies' Merrick Manor Tops Off Early in Coral Gables' Merrick Park

Astor Companies' Merrick Manor has now seen construction top-off on the 10-story building early. The project was anticipated to top-off at one point in early 2018. Located at 301 Altara Avenue behind Merrick Park in Coral Gables, the 227-unit condo building was designed by Behar Font & Partners with interiors by Steven G. Units come in one to five bedroom floor plans, ranging from 747 SF to 3,400 SF. Pricing starts around $500,000 and ranges up to $2.5 million. Residences will feature custom wood doors, spacious terraces and gourmet kitchens with white quartz waterfall island and countertops and Bosch and Duravit appliances. Merrick Manor will feature resort style amenities including pool, state-of-the-art gym, 24-hour valet, 24-hour concierge, business center and 19,000 SF of ground-floor retail and restaurant space. Merrick Manor is currently over 55% under contract and completion is now expected in Q4 of 2018.

“We are excited to celebrate this important milestone for our project,” said Henry Torres, President, CEO, and Founder of The Astor Companies. “It is a testament to the incredible team at general contractor Jaxi Builders that we were able to reach this stage so far ahead of schedule – even with the recent interruption from Hurricane Irma. Our buyers will now be able to enjoy the unparalleled lifestyle Merrick Manor offers sooner.”

Check-out more renderings from our March 2017 Construction Update on Merrick Manor. 

CADE Capital Partners Breaks Ground on MB Station on Coral Way

CADE Capital Partners has officially broken ground on MB Station, their mixed-use project located on Coral Way. The project will rise 17-stories and will feature 190 rental units, 4,805 SF of ground floor retail space, and Shenandoah Fire Station #14, which will be located in the rear base of the building. Amenities will include an outdoor courtyard with a pool, a community club room, a fitness center, and a yoga room. MB Station is located at 3170 Coral Way and is expected to be completed in Q4 2019. 

“We are thrilled to introduce MB Station to one of Miami’s most dynamic residential neighborhoods. As we enter our collaborative venture with the City of Miami, we are honored to deliver the highly anticipated fire station to the Shenandoah community,” said John F. Marquez, CEO of CADE Capital Partners.