CIM Group & One Real Estate Investments Lock Down Construction Financing For Wynwood Square

CIM Group and One Real Estate Investments has locked down construction financing for Wynwood Square as the project gears up to break ground. The loan is for $71.2 million and was provided by Sumitomo Mitsui Banking Corporation. The developers have applied for construction permits after getting the green light for water and sewer connection to the property. Wynwood Square was designed by Stantec and will feature 257 apartments, 54,000 SF of office space, 25,000 SF of retail and 481 parking spaces.

Luma At Miami Worldcenter Locks Down $143 Million Construction Loan, Groundbreaking Imminent

Luma at Miami Worldcenter has locked down a $143 million construction loan as the developers gear up to break ground on the 43-story tower. The loan was provided by Moinian Capital Partners with a 60% equity piece valued at $23.7 million. The tower is being developed by ZOM Living after the developer acquired the lot from Miami Worldcenter Associates. When complete Luma will feature 434 rental apartments which range from 566 SF to 1,808 SF. The building is designed to take advantage of the waterfront views of Biscayne Bay. Luma will offer over 45,000 SF of amenities including a fitness center, spa with sauna and treatment rooms, speakeasy, dog salon, classroom, residents lounge and a resort-style pool. Luma is expected to be completed in 2021.

Multiplan Real Estate Asset Management Breaks Ground On 57 Ocean In Miami Beach

Multiplan Real Estate Asset Management has broken ground on 57 Ocean, an ultra-high-end, 18-story boutique condominium on Millionaire’s Row in Miami Beach. Designed by Bernardo Fort-Brescia of Arquitectonica with interiors by Brazilian designer Patricia Anastassiadis of Anastassiadis Arquitetos, 57 Ocean is already being singled-out by high-end buyers worldwide for its myriad of holistic wellness amenities and services. Dozens of industry leaders and top-producing broker-associates were in attendance for the April 4 groundbreaking ceremony, which included a champagne toast and an elegant brunch in the project’s $3 million, on-site sales gallery.  The 81-unit 57 Ocean is located at 5775 Collins Avenue and has been likened to a coastal retreat, blending extravagant design with an emphasis on healthy living. Moss & Associates is the general contractor for the project.

“This is a proud moment,” said Marcelo Kingston, Managing Partner, Multiplan Real Estate Asset Management.  “Even before putting shovels in the ground, the response from the market has been tremendous. We see the global interest in our project as being indicative of the demand buyers have…not only for sophisticated oceanfront living, but access to state-of-the-art features that are designed to bolster health and wellbeing. 57 Ocean is a rarity in the marketplace, and savvy, well-heeled consumers recognize that.”

The condominium is the brainchild of Multiplan Real Estate Asset Management’s leader, José Isaac Peres, an internationally recognized Brazilian developer and owner of major residential and commercial real estate holdings. Peres, who was in attendance for the commemoration, has longstanding ties to Miami, being the visionary behind a pair of landmark South Florida projects including the concept of Jade on Brickell Bay and the development of Il Villaggio on Ocean Drive.  During the ceremony, which was temporarily moved inside on account of rain, Peres spoke passionately about his company and its longstanding mantra. 

“Multiplan is known for going well beyond expectation,” said Peres.  “We believe in giving people more than what they ask for…and when we say we are going to do something, we do it.  Those are two of our pillars.  Even for today’s groundbreaking event, people wanted to know if we were going to postpone the celebration because of the weather…but despite the clouds, we moved forward.  Again, if we say we are going to do something, we make it happen…and our beautiful ceremony took place as planned.” 

“I’m very proud to be involved with Multiplan’s latest project,” said Edgardo Defortuna, CEO of Fortune International Group, parent company of Fortune Development Sales, the project’s exclusive broker.  “They always deliver on what they promise -- and even more.  During the opening party, Dr. Peres said he was going to start construction in April, and that’s exactly what he’s done.  As indicated by early sales, the market has really embraced 57 Ocean.  It’s a testament to the notion that when you have a quality developer producing a great product, the result will be a huge success.”

57 Ocean offers two, three and four-bedroom residences, ranging from 1,200 SF to 3,600+ SF; additionally, there are also two penthouses and two beach houses. The uniquely designed homes will feature expansive terraces, each stretching 12 feet deep with panoramic ocean and city views, glass balustrades, and one-of-a-kind ceilings with wood-like accents. Units will also feature contemporary Italian kitchens and baths by Poliform. Additional highlights within the residences will include marble countertops and backsplashes, 10-foot ceilings, Wolf and Sub-Zero appliances, Italian fixtures, natural stone floors, stone wall tiles in master baths, and private elevator entrances.

Amenities are comprised of a holistic wellness spa and pavilion, complete with a thermal suite (inclusive of a steam room, aromatherapy saunas, and an ice fountain), relaxation and meditation area, and a private spa suite; two expansive infinity pools; third-floor sunset deck; poolside treatment cabanas; a pool bar and social terrace lounge; summer kitchen pavilion with a grill area; a multi-purpose club room with chef’s kitchen for full gastronomic experiences; and a state-of-the-art fitness center with innovative MyIsle training equipment by MyEquilibria and an indoor Technogym fitness center. There will also be a library, children’s activity room, 24-hour concierge, valet and security services, and pool and beachfront concessions and attendants. Residents will additionally have direct access to 220 linear feet of beach and the adjacent, Miami Beach Walk. 

Pricing at 57 Ocean ranges from $1.5 million to $31 million with Fortune Development Sales as the exclusive residential brokerage. 57 Ocean is expected to be completed in September 2021.

Photos via Dylan Rives

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13th Floor Investments & Adler Group Complete Construction Of The Transit-Oriented Motion at Dadeland Apartments

13th Floor Investments and Adler Group have announced that the firms have completed construction of Motion at Dadeland, a transit-oriented, 294-unit luxury rental community that is adjacent to the Dadeland North Metrorail Station in South Miami, FL. The project is now is welcoming its first residents with the successful receipt of the development’s TCO. Motion at Dadeland was developed in collaboration with Miami-Dade County Transportation & Public Works in an effort to curb’s the city’s congestion issues by motivating people to live and work near transit. The project was also developed in partnership with Barings LLC, one of the world’s largest diversified real estate investment managers, which owns the property on behalf of institutional investors. Civic Construction acted as general contractor and played an instrumental role in executing the project on time and under budget while both TD Bank and Santander Bank provided the construction loan on the project.

“The Downtown Dadeland submarket has become one of Miami’s most appealing areas for residential living,” said Michael M. Adler, CEO of Adler Group. “Motion at Dadeland provides residents the ability to enjoy the Dadeland area in a modern residential community while being directly connected to Brickell and Downtown Miami via the Metrorail.”

Motion at Dadeland was designed by Corwil Architects and rises 25-stories, offering 294 rental apartments and just under 8,000 SF of retail space. The building is a vibrant and modern multifamily community of studio, one-, two-, and three- bedroom apartments located in the heart of Miami at 8400 South Dixie Highway, Miami, Florida. Motion at Dadeland is a class-A multifamily development featuring condo-quality finishes with sweeping views of Biscayne Bay and Downtown Miami. Amenities include a modern lobby, double height amenity level on the sixth floor, fully-equipped fitness center with bay and skyline views, expansive pool deck, poolside cabanas, communal sun loungers, covered seating, media room, party lounge and a co-working center for its residents.

“Motion at Dadeland perfectly embodies what today’s renters are looking for: quality, connectivity and community,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “The success of this is project is a testament to what can be achieved through the collaboration of the public and private sectors. We appreciate the confidence that Miami-Dade County Department of Transportation and Public Works has shown in our partnership and in the future of transit-oriented development in Miami-Dade County.”

“Our partnerships with the private sector, transportation stakeholders and local governments have helped us to foster the development of transit-oriented projects, such as Motion at Dadeland,” said DTPW Director Alice N. Bravo, P.E. “Getting more people to live and work around transit is the ultimate solution for congestion because it helps grow ridership and creates more livable communities.”

Mike Zammitti, Head of U.S. Real Estate Private Equity at Barings noted, “Motion at Dadeland is a prime example of executing on our investment strategy - targeting class A development opportunities, in collaboration with best-in-class partners, in live-work-play locations within strong markets that are expected to outperform. Motion at Dadeland is an outstanding development and we look forward to our continued successful relationships with our partners in this endeavor.”

Check Out The Newly Revealed Renderings Of The RTKL-Designed Plaza Coral Gables

New renderings have been revealed of Plaza Coral Gables, the largest project to ever be built in Coral Gables, valued at over $600 million. Construction on the project, which was formerly proposed as Mediterranean Village by developer Ralph Sanchez, is currently underway after Phase 1 broke ground in Summer 2018. The Plaza Coral Gables is now being developed by Agave Ponce, LLC., an affiliate of the Cuervo Tequila Company. The Plaza Coral Gables, which was designed by RTKL, will offer over 2.1 million SF of total development spread over roughly 7 acres. When complete the project will offer 174 luxury rental apartments, 242 hotel rooms, 161,000 SF of retail, 447,000 SF of office space spread over 2 towers and 2,400 parking spaces. A completion date for Phase 1 is expected in 2020 before the developer will break ground on Phase 2 and Phase 3.

Brickell Flatiron Now 87% Sold, Reduces Deposit Requirements To 30%

Sales at Ugo Colombo’s CMC Group’s Brickell Flatiron have reached 87% of its 527 units and the developer has lowered deposits to 30% as it aims to capitalize on recent local and domestic buyer interest and leverage Fannie Mae loans to attract end-users. There have been $290 million in total sales to date as the tower is on track to be completed this summer 2019. U.S. buyer activity at Brickell Flatiron was reportedly up 114% from 2017 to 2018, with domestic buyers spending $50 million at the building last year alone, which accounts for more than half of all sales. This marks a shift from 2-3 years ago, when the market was dominated by Latin American buyers. The shift has been fueled by US buyers have more purchasing power due to tax cuts and a strong dollar; financing is more readily available as buildings near completion; and tax savings are driving buyers to value markets like Florida.

“The enhanced purchasing power that comes with a strong U.S. dollar, the tax advantages of Florida residency, and Downtown Miami’s growing appeal as an urban, cosmopolitan district are all contributing to an influx of domestic buyer activity at Brickell Flatiron,” says Vanessa Grout, president of CMC Real Estate.

“With the tower’s completion now months away, we’re looking to markets like New York, Chicago, Boston and Los Angeles for our final sales push, making the case that Miami offers tax savings, comparative value for high-end residential product, and an unbeatable quality of life,” Grout added. “Since we have reached sales targets in line with construction milestones and our loan is closed and covered, we are in the position to relax deposit requirements. That decision – coupled with the building’s Fannie Mae approval – will offer buyers even more reason to put down roots at Brickell Flatiron.”

Upon its completion, Brickell Flatiron will be the tallest condominium south of New York City. With its distinct flatiron shape and curvilinear façade, the Luis Revuelta-designed building topped-off construction at 736’-tall in December 2018 and is on track to deliver in summer 2019. Units range from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron's amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc.

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

57 Ocean Releases New Renderings Ahead Of April 4 Groundbreaking On Miami Beach

57 Ocean, the ultra-high-end oceanfront residential project by Multiplan Real Estate Asset Management on Miami Beach, has revealed new renderings just weeks after opening its state-of-the-art-on-site sales gallery in anticipation of the projects April 4 groundbreaking. 57 Ocean will feature 81-units and has a unique focus on holistic wellness, capturing the spirit of a luxurious coastal retreat while coupled with an emphasis on healthy living.The contemporary light-filled homes, amenities, and common areas are crafted by Brazilian architect and designer Patricia Anastassiadis, drawing inspiration from the boutique condominium’s beachside setting, blended with an artful feel that is distinctly her own. The building was designed by the Miami-based architect Arquitectonica.

“57 Ocean’s lavish designs reflect the carefree nature and joyfulness of the Brazilian lifestyle – all while capitalizing on the residences’ adjacency to the beach and views of the Atlantic Ocean and cityscape,” said Anastassiadis, founder of Anastassiadis Arquitetos. “Through the implementation of sophisticated materials and handmade elements -- as well as the careful selection of art and design pieces, like Oscar Niemeyer’s modern furniture and Janaína Tschape’s contemporary art -- 57 Ocean will undoubtedly become a point of reference for top architecture and design in the Miami Beach area for generations to come.”

Residences will feature expansive terraces, each stretching 12’ deep with panoramic views, glass balustrades, and one-of-a-kind ceilings with wood-like accents.. Residences will also offer contemporary Italian kitchens and baths by Poliform, marble countertops and backsplashes, 10’ ceilings, Wolf and Sub-Zero appliances, Italian fixtures, natural stone floors and wall tiles in master baths, and private elevator entrances.

Amenities consist of outdoor massage and meditation rooms, an outdoor yoga deck, and a beautifully appointed wellness pavilion and spa with sweeping views. The spa features a thermal suite complete with a steam room, aromatherapy saunas, and an ice fountain, relaxation and meditation area, and a private spa suite. 57 Ocean will have two expansive infinity pools, a third-floor sunset deck, poolside treatment cabanas, a pool bar and social terrace lounge, summer kitchen pavilion with a grill area, and a multi-purpose club room with a chef’s kitchen for full gastronomic experiences. There will also be a state-of-the-art fitness center, connected to a terrace with a pool, equipped with top-of-the-line MyIsle training equipment by MyEquilibria and an indoor Technogym fitness center. Additional amenities and services include a library, a children’s activity room, 24-hour concierge, valet and security, pool and beachfront concessions and attendants, and direct access to the adjacent, brand-new Miami Beach Walk.

“The vision for the spa area came from a holistic approach -- blurring the lines between the indoors and outdoors,” added Anastassiadis. “From a design point of view, the furniture will not only add splendor to the setting, but complement the building’s relaxed atmosphere and strong connection to the environment – both trademarks of 57 Ocean.”

Prices for two, three and four-bedroom residences in 57 Ocean, including two penthouses and two beach houses, will range from $1.5 million to $31 million. Fortune Development Sales is the exclusive sales and marketing brokerage for the project.

Check out PROFILEmiami’s full coverage of 57 Ocean

Renderings via DBOX

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Take A First Look Inside The Shoreline At LeFrak & Turnberry's Solé Mia Mega-Project

The Shoreline, Solé Mia’s first two residential towers, has revealed a first look at the completed project where move-ins have begun. Jointly designed by Miami-based Arquitectonica and Robert M. Swedroe Architects, the Shoreline consist of two 17-story towers with 397 rental residences with studios, one, two and three-bedroom layouts. The Shoreline overlooks Sunny Isles, Oleta State Park, Biscayne Bay and the Atlantic Ocean. Amenities include two residential lounges, fitness center, business center, automated package rooms, a pool deck with jacuzzi, and access to South Florida’s first 7-acre Crystal Lagoon, Laguna Solé, which is set to open this Spring 2019.

The Shoreline is the first two towers of what will be 12 towers, 500,00 SF of retail and commercial space, a 225,000 SF University of Miami Health Center, all anchored around South Florida’s first 7-acre Crystal Lagoon, Laguna Solé, at the $4B, 184-acre master-planned community, Solé Mia. Solé Mia will ultimately be a 183-acre master-planned community with the entire development expected to take over 10 years to complete. In total Solé Mia will feature 4,300 residential units, retail, entertainment and recreation. Solé Mia is being developed by the NY-based LeFrak in collaboration with the Miami-based Turnberry Associates led by Jeff Soffer.

ROVR Development's The Fairchild Coconut Grove Designed By Max Strang Tops Off At 75% Sold

The Fairchild Coconut Grove has topped off with sales surpassing the 75% in one of the hottest neighborhoods in Miami, Coconut Grove. The luxury boutique condo project is being developed by ROVR Development and was designed as a tropical-modern sanctuary by acclaimed local architect Max Strang. Strang fused natural elements and contemporary surroundings of Coconut Grove to create a chic waterfront living experience. The Fairchild Coconut Grove features 26 two to four bedroom residences ranging in size from 2,600 SF to 4,114 SF. Residences feature gourmet chef-inspired kitchens, spa-inspired bathrooms and spacious living areas. The building also offers a selection of high-end amenities which were designed by Architectural Digest AD100 designer Rafael de Cardenas and include a holistic wellness spa with Hammam, steam room, sauna, high-tech gym, lush landscaping, a sunset deck, outdoor cinema, and a rooftop pool with open water views and private cabanas.

The Fairchild Coconut Grove has limited inventory still available with ONE Sotheby’s International Realty exclusively handling sales for the property which is slated for completion in Fall 2019.

Images via Fairchild Coconut Grove / ONE Sotheby’s International Realty

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Metronomic, Inc. Announces First All-Female Construction Team To Build La Elaina In Little Havana

Miami-based real estate development company Metronomic, Inc. has announced an all-female construction team to build the first of its new infill multi-family development designs, La Elaina Apartments in Little Havana. The townhouse-style duplex building will make history by being the first building in Miami built entirely by women. Located at 857 & 859 SW 14 Avenue, the company plans to break ground on March 7, 2019, just in time to celebrate “Women in Construction Week”.

Promoting positive change in the community, Metronomic is leading the women in construction movement working with numerous sub-contractors to recruit the team of nearly 20+ female employees who are joining together to help break gender barriers in construction. The groundbreaking of La Elaina will also kick off National Women’s History Month. The company has also received support from Director and former President of National Association of Women in Construction’s Miami Chapter, Lucia Soria. She says, “the core purpose of our organization is to continue inspiring women and enhance their success in the construction industry. When women unite, they can accomplish anything, and I am proud to witness a company like Metronomic demonstrating this and making history in Miami.”

Leading the team will be Camila Osorio as Senior Project Manager. Camila has over 14 years of expertise in all aspects of the real estate development process and is currently the project manager for all Metronomic projects in Little Havana. Arlene Melendez will serve as Construction Coordinator with 18 years of construction and development experience in South Florida. The project will be constructed and managed entirely by women, which includes machine operators, excavators, masons, plumbers, electricians, carpenters, painters, and more.

“La Elaina is going to break barriers for women in construction, and we couldn't be happier to spearhead this movement,” says Ricky Trinidad, President of Metronomic, Inc. “We believe an all-female team will create positive change in the community – and hopefully encourage permanent change in a male-dominated industry”.

Designed by local architecture firm CLAD Architecture and Design, the two-unit building will span 5,800 SF and feature six bedrooms and six bathrooms rooms per residence. Each 2,850 SF unit will include an exterior terrace, kitchen, living room, private yard, 2-car covered parking and attractive interior and exterior finishes.

La Elaina is designed to offer larger or multi-generational families’ maximum comfort and convenience by providing separate living environments within the home. It is also suitable for families with special-needs children or relatives that require the special care of a live-in nurse, nanny or caregiver to live in the home, providing separate rooms for treatment and care. The first floor can provide accessibility options for such needs, while the second floor is accessible from the first floor through a private interior stairwell for optional privacy, offering 3 bedrooms with 2.5 bathrooms on each floor totaling 6 bedrooms with 6 bathrooms per unit. This creative layout conveniently provides 2 private and separate living areas in each unit.

The first La Elaina development will be located across the street from the Villas Beny More I apartments, another recently completed town home community by Metronomic Inc. Metronomic Inc. plans to develop additional La Elaina duplex buildings offering the “extended-family lifestyle” model throughout the community of Little Havana and similar communities in Miami where the need for extended family living is strong.

La Elaina is slated to break ground early March and completed by 2020. Full pre-leasing of the project will take place prior to completion of construction.

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