Related Group Announces Paraiso District Is Over 97% Sold As Project Nears Completion

Related Group has announced that the Paraiso District, an 11-acre, four-tower luxury development taking shape on Biscayne Bay in Edgewater, is now 97% sold-out. A number of A-list celebrities have already purchased units in the development, including David Guetta, Alex ‘A-Rod’ Rodriguez, Gael Monfils, and more. Paraiso District consists of the 384-unit Paraiso Bayviews, the 357-unit Paraiso Bay, the 317-unit Gran Paraiso, the 276-unit One Paraiso, and seven standalone townhomes at Paraiso Bay Homes. The project is is expected to be delivered during the course of this year (2018), with closings on the 53-story, sold-out Paraiso Bay beginning this month. 

“The Paraiso District is by far one of the most ambitious projects in our portfolio,” says Carlos Rosso, President of The Related Group’s Condominium Division. “The project brings together the best of all Miami has to offer: prime waterfront access, unrivaled culinary offerings, world-class art, a bayfront park, unparalleled health and fitness amenities and striking, expansive residences with spectacular water views. This incredible combination provides buyers with the opportunity to experience the best in resort-style living, while also embracing a walkable, community feel. It’s truly unlike anything else in Miami.”

The final tower in the District, Gran Paraiso, topped off earlier this year; with a select number of prime units still available, starting at just under $1 million to $1.7 million for the tower residences and penthouses from $2 to $3 million. The expansive tower residences feature 10’ ceilings, wraparound terraces and are delivered completely finished with a selection of flooring finishes. Indoor-outdoor spaces throughout the Paraiso District celebrate the tropical, bayside environment, with floor to ceiling windows and open concept floor plans. Resort style amenities include Miami’s largest circular pool, at close to 100 feet in diameter, a pool deck designed by Enzo Enea, a bowling alley, tennis center, wine and yoga rooms, and spa. The Paraiso District encompasses nearly 4,000,000 gross square feet of premium waterfront with a public park and multiple pocket parks, boat slips, seven pools, five tennis courts, open-air art installations, and direct access to the Biscayne Line.

Earlier this year, Amara at Paraiso opened on the ground floor of the Paraiso District's private beach club, with delectable dinners and weekend brunches. Amara at Paraiso is the newest restaurant from James Beard Award-winning chef and restauranteur Michael Schwartz. The bayfront restaurant is designed by Meyer-Davis and notable for its unobstructed views of Biscayne Bay, the beach club features a plunge pool, private boat slips and jet skis, canoes, kayaks and paddle boards for residents. 

Check out PROFILEmiami's coverage of Related Group's top off of One Paraiso in June 2017 

Check out PROFILEmiami's Paraiso District Overview

Trump Group Breaks Ground On The Estates At Acqualina In Sunny Isles Featuring Lobbies by Karl Lagerfeld

Trump Group has officially broken ground on The Estates at Acqualina, the $1.5 billion ultra-luxury development in Sunny Isles after a lavish event with skydivers, a marching band and 25 Rolls-Royces. Located at 17895 Collins Avenue, the 154-unit south tower is over 65% sold, with sales reported at over 100 units and $550 million since launching in 2015. The north tower, which is currently on hold, will have an additional 93 residences. The Estates at Acqualina sits adjacent to the north of Mansions at Acqualina and Acqualina Resort & Spa. Construction will commence on the foundation of both towers and Villa Acqualina, the 45,000 SF amenity villa connecting both towers. The South Tower is expected to top-off by December 2019 with expected delivery in 2020. 

Condos at The Estates at Acqualina range from 2,917 SF 3-bedroom units to over 9,000 SF 7-bedroom residences. Pricing starts at $4.2 million and ranges up to $14.5 million; additionally, the building offers $32 million and $36 million penthouses. Connecting the two towers is Villa Acqualina, designed by Karl Lagerfeld, creative director of Chanel and Fendi, marking his first residential project in the U.S. Villa Acqualina houses over 45,000 SF of amenities including a spa, fitness center, ice skating rink, bowling lanes, movie theater, Wall Street Trader's Club trading room, basketball court, soccer field, bocce court, dog park, FlowRider surf simulator, golf simulator, multiple infinity pools, a beachfront restaurant and a full-service beach club. 

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.”

Related Group & East End Capital's Wynwood 25 Tops Out, On Track For Completion Summer 2019

Related Group and East End Capital have officially topped out the Kobi Karp-designed Wynwood 25 and construction teams are on track for an expected completion in the summer of 2019. The mixed-use project features 289 rental apartments, 340 parking spots and 31,000 SF of ground-floor retail, making it one of the largest projects to be developed in the Wynwood neighborhood. Units range from studio to 1-bedroom, with some select larger units available. All residence feature 10'-12' ceilings with in-unit washer and dryers. Amenities at Wynwood 25 include a rooftop pool, rooftop barbecue area, rooftop movie lounge, bike room, EV car-charging stations, a state-of-the-art fitness center with yoga studio, a 12,000 SF green courtyard, and dog wash facilities, amongst others.

“This top-out brings us one step closer to achieving our vision of bringing top-tier living options to Miami’s most creative and artistic neighborhood,” said Jon Paul Perez, Vice President of The Related Group. “We expect Wynwood 25 to not only set the standard of living for the area, but also serve as a catalyst for the neighborhood’s next chapter. We look forward to a successful delivery next summer.”

Miami Worldcenter Unveils Construction Timeline for the Mixed-Use Development

Miami Worldcenter is currently the second largest urban development underway in the United States and occupies 27 acres in the heart of downtown Miami. The ten-block project is expected to account for $2 billion in new investment in downtown Miami and will include world-class retail, hospitality, commercial and residential uses. 

The project, whose “master plan has been in the making for more than a decade” is running on all cylinders with more than 800 workers active on site each day as the project prepares to open its first residential phase as early as this year. To date, 4,000 workers have been hired, and approximately 75 percent of those live in Miami-Dade County. A Class AA office tower of this size and scale hasn’t been built in Miami in a decade and its construction coincides with the launch of Brightline’s rail service into Downtown Miami, which will bring Miami commuters to Fort Lauderdale and West Palm Beach starting Saturday, May 19th.

The developers, Miami Worldcenter Associates, provided PROFILE with this construction timeline:

• CAOBA apartments will welcome renters to its 444 units who are seeking a well-connected location adjacent to multiple transportation hubs in the fourth quarter of this year. 
• PARAMOUNT Miami Worldcenter, a 569-unit luxury condominium tower is slated for completion during the first quarter of 2019. 
• The open-air retail, dining and entertainment component, developed in collaboration with The Forbes Company and Taubman, is underway with more than 140,000 square feet of space in construction and another 160,000 square feet forthcoming in phase one. Delivery is expected to begin in the fourth quarter of 2019.
• MDM Group expects to begin construction of its 1,700 room Marriot Marquis, complete with 500,000 square feet of meeting, exposition and event space, in the fourth quarter of 2018.
• LUMA, a 434-unit luxury apartment tower to be developed by ZOM, will break ground later this year with completion anticipated in 2020.
• A new Class AA office-led mixed-use tower developed by Hines will begin rising out of the ground next year in advance of opening to tenants in 2021.

“Today’s consumers are looking for convenience and connectivity, and Miami Worldcenter delivers on both,” said Nathan Forbes, Managing Partner of The Forbes Company. “We see strong demand for a pedestrian-friendly shopping, dining and entertainment district that will be home to premier brands and inviting public spaces flowing seamlessly with surrounding streets and nearby transit options. Once complete, Miami Worldcenter will become the perfect confluence of arts, culture, entertainment and transportation.” 

Article by Katya Demina

Check Out Metropica, The $1.5 Billion YOO & Oppenheim-Designed Upscale Mixed-Use Mega-Project Coming To Sunrise

Across from the Sawgrass Mall, one of the largest malls in the United States, developer Joseph Kavana's KGH International Development is building Metropica, the $1.5 billion mixed-use live-work-play mega-project in Sunrise's western corridor. The first residential tower bearing the namesake Metropica has already topped out at 28-stories in January 2018. The high-street retail project covers 65-acres with 8 residential towers and is designed by YOO Design Studio, Oppenheim Architecture, CI Design and EDSA. When complete Metropica will bring 2,250 residential condominiums to the area along with 650,000 SF of office space; 2 boutique hotels with 240 keys each; 485,000 SF of retail, culinary, entertainment; and designated green park space. Stores include Urban Outfitters; Anthropologie; an iPic movie theater; and Sugar Bowl, a home decor store.

The residential tower features residences that range from one-to-three-bedroom floor-plans that range from 740 SF to 1,379 SF start at $460,000 for one-bedrooms, $480,000 for two-bedrooms and $580,000 for three-bedrooms. There will also be a 1,900 SF+ penthouse series that start at $1.1 million. Condos feature spacious open floorplans with balconies, floor-to-ceiling windows, and custom-finished palettes and finishes. Amenities include a saltwater pool, theatre, a private screening room, a play room, tennis courts, and a clubroom. Residents will also have access to the Metropica beach club, tennis courts, a 24-hour fitness center, basketball court, soccer field, fitness & wellness facility, a spa, massage therapy rooms, and a steam room and sauna.

Metropica is expected to be completed in 2021.

Brightline to Kick Off Service To Miami Via MiamiCentral Station May 19

Brightline will officially begin passenger service from Fort Lauderdale to Miami on May 19. Tickets are now on sale for the rail service connecting West Palm Beach to Downtown Miami, priced from $10 for Smart Service which offers 19' seats; and $15 for select service, which features 21' seats, more leg room, complimentary snacks and beverages as well as access to premium select lounge. West Palm Beach to Miami is available from $15 for smart service and $25 for select service. A grand opening weekend is already nearly sold out with tickets priced from $3 to $5. Brightline MiamiCentral Station is located at 600 NW 1st Avenue and features CentralFare, a 50,000 SF food hall slated to open fall 2018 complete with Einstein's Bros. Bagels, Joe & The Juice and Starbucks. 

Brightline is setting the new benchmark for travel by train in America with express inter-city passenger rail service connecting Miami, Fort Lauderdale and West Palm Beach, with future service to Orlando. Providing a travel option that lives at the intersection of transportation and hospitality, the service is expected to reduce traffic and provide South Floridians with a simple and intuitive experience from door to destination, and foster new opportunities to explore more of Southeast Florida. Brightline will be the only privately owned, operated and maintained passenger rail system in the United States. 

Melo Group Completes The Arquitectonica-Designed Aria on the Bay In Downtown Miami

Construction of Aria on the Bay, Melo Group’s new Arquitectonica-designed luxury condominium in Downtown Miami, is now complete with more than 90% of its 648 units already sold and under hard contract. The 53-story waterfront tower, located at 1770 N. Bayshore Drive along Biscayne Bay, becomes the latest condominium to deliver in Downtown’s growing Arts & Entertainment District. The news prompts the start of closings as residents take ownership of their units, begin interior build-outs, and prepare to move into the building over the coming days.

“When we broke ground on Aria on the Bay three years ago, we envisioned a tower that not only offered first-rate amenities in an ideal location but one whose design would convey elegance and sophistication. We are confident that Aria will take its place among Miami’s most iconic landmarks,” said Carlos Melo, principal of the Melo Group.

Units at Aria on the Bay range from 1 to 4 bedrooms and $400K to $6 million and sold around $550 per square foot. Residences feature floor-to-ceiling glass, expansive wrap-around terraces, private elevator access, open-plan living areas, designer finishes and fixtures, European-style kitchens, and modern custom-designed cabinetry. Amenities include a 14th floor resort amenity deck with 2 sunrise/sunset swimming pools, a jacuzzi, custom-seated fire pits, barbecue grills and outdoor summer kitchens, a private spa with massage treatment facilities, a state-of-the-art fitness center, yoga studio, entertainment lounge, and a screening room. 

“Two blocks north of the Adrienne Arsht Center for the Performing Arts, Aria on the Bay’s semi-circular balconies make reference to those inside the classic opera houses. They playfully stagger creating a series of cylinders in performance. The arrangement could also be interpreted as a musical score, or a series of curves dancing to a tune,” said Architect Bernardo Fort-Brescia, founding principal of Arquitectonica.
 
Aria on the Bay launched sales and construction in 2015 and became an instant favorite among international and domestic buyers in the market for spectacular design, panoramic water views and luxury amenities in a walkable, urban setting. Baseball superstar Giancarlo Stanton, the Yankee slugger who was recently named the National League’s Most Valuable Player, purchased one of Aria on the Bay’s triplex penthouses in 2017 and Grammy Award-winning record producer and rapper Timbaland also purchased two units at the building.
 
“Beyond its prime waterfront location, magnificent bay views, and high-quality design features, Aria on the Bay benefits from the expertise of one of Miami’s strongest developers,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, the project’s exclusive sales and marketing brokerage. “Melo Group’s success is the result of more than sixty years of experience in the real estate industry and the firm’s track record for uncovering and investing in emerging neighborhoods. We are proud to be a part of their achievements in the U.S. and know that their keen and efficient business sense will ensure they continue to develop in Miami for many more years to come.”

Since arriving in Miami from Argentina in 2001, Melo Group’s father-and-sons team, which is led by Jose Luis Melo and his two sons Carlos Melo and Martin Melo, has been a driving force behind Miami's real estate resurgence. Aria on the Bay marks the developer’s 14th residential tower delivered over the last decade and a half, with a total of more than 5,000 units completed and in development throughout the Greater Downtown Miami area. Melo Group is also building market-rate apartment buildings to meet the needs of young professionals looking to live within close proximity to Miami’s largest employment districts such as Brickell, Downtown’s CBD and the Health District. The firm’s next residential project, the 710-unit Square Station Apartments, will open to tenants this month as part of a larger three-phase development plan to bring nearly 2,000 transit-oriented rental units to Downtown Miami.

Remaining units currently available for sale include a range of one- to four-bedroom condos priced from the $400,000s up to $1.8 million.

Related Group & Block Capital Group Break Ground On The Bradley In Wynwood

Related Group and Block Capital Group have broken ground on The Bradley in Wynwood, one of Miami's first projects to feature micro-units. The project was designed by Arquitectonica and features interiors by Lenny Kravit's Kravitz Design. When complete The developers expect to close on a $33 million construction loan over the next few weeks. The Bradley will rise 5-stories and will bring 175 rental apartments, 32,000 SF of ground floor retail and a 179 spot parking garage to Wynwood. The units will range in size from 480 SF studios to 1,000 SF 3-bedroom units and monthly rents are expected to range from $1,400 to $2,800. Amenities include a gym and a rooftop deck with grill area and cabanas. The project was first introduced as Wynwood 26 and developers were able to secure a 30% reduction in parking, decreasing the amount from 254 zoning requires to 179 spaces via contributing to the Wynwood Parking Trust Fund. The Bradley is located at 51 Northwest 26th Street. Construction is expected to be completed in 2020. 

JDS Development Group Secures $137 Million In Construction Financing For The Jean Nouvel-Designed Monad Terrace

The New York-based JDS Development Group has secured $137 million in construction financing for the Jean Nouvel-designed Monad Terrace, their new luxury condo overlooking Biscayne Bay in South Beach. The New York-based Madison Realty Capital funded the $137 million construction loan. The financing indicates conviction in the development team, the high-design product by Pritzker Prize-winning architect Jean Nouvel and the South Beach market’s extremely limited new development inventory and viability. The financing will fully capitalize the project, which features 59 individually-designed waterfront residences. 

JDS was represented by Douglas B. Heitner, Erik Nygaard, and Albert J. Delgado of Kasowitz Benson Torres LLP. Madison Realty Capital was represented by Jerold C. Feuerstein of Kriss & Feuerstein LLP. The financing was placed by a JLL team led by Aaron Appel.

“This is a unique assemblage of land within a prime waterfront residential enclave in South Beach, Miami and we are excited to close another transaction with an esteemed developer like Michael Stern,” said Josh Zegen, Co-Founder and Managing Principal of MRC. “In addition, there’s virtually no new development product coming out of the ground in South Beach right now, so we offered a customized financing solution for JDS’s needs given our knowledge of the market. It was a special opportunity to support an A-team in one of the most attractive markets for real estate.”

“Securing this loan demonstrates the strength of the project, the attractiveness of the Miami Beach market and the overall demand for luxury housing in Miami,” said Michael Stern, Founder and Managing Partner of JDS Development. “Monad Terrace serves as a landmark for thoughtful and innovative development that is also beautiful and has a strong architectural identity. This product is like nothing else in Miami Beach, which the MRC team recognized. It was a pleasure to work with them on this, they provided a swift and professional execution.”

“There is already sales momentum, and we expect this will continue on a steady upward trajectory until sell-out,” said Jay Phillip Parker, CEO of Douglas Elliman Florida.

Residences range from two- to five-bedrooms and 1,453SF to 5,350 SF of interior space. Features include private elevator access, custom kitchens and bathrooms by Jean Nouvel and sprawling outdoor terraces. The building offers a true indoor-outdoor living experience, featuring climbing gardens and reflecting pools that complement the property’s central lagoon and ocean views. 

Construction on Monad Terrace is already underway, with the foundation nearly complete. The project's design, which was designed in collaboration with the Miami based Kobi Karp fuses environmental responsibility with innovative climate resilience features into the architecture, starting by elevating the building 11.5', well over Miami Beach standards.The tower is expected to go vertical in Spring 2018 and estimated to be completed in Fall 2019. 

Sales at Monad Terrace are reportedly averaging almost $2,000 SF, and a penthouse unit is under contract for $2,700 SF, a record for the neighborhood. Sales and marketing for Monad Terrace is managed exclusively by Douglas Elliman Development Marketing.