Reuben Brothers-Led Venture Buys Out Fortress Investment Group's Debt Backing One Thousand Museum By Zaha Hadid Architects

A Reuben Brothers-led venture, which includes Fontainebleau Development, has bought out the remainder of Fortress Investment Group’s stake in the debt behind one Thousand Museum by Zaha Hadid Architects. Fortress Investment Group had initially provided a $225 million construction loan in 2016, half of which was later acquired by the Reuben Brothers-led venture before a portion was paid back by the developers.

The Reuben Brothers is a British private equity firm led by David and Simon Reuben. The firm has partnered with Jeffrey Soffer’s Fontainebleau Development on several projects in South Florida recently including at the JW Marriott Miami Turnberry Resort & Spa in Aventura.

One Thousand Museum was developed by Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger. The tower officially debuted August 2019 as one of the country’s most anticipated condominiums, with its striking exoskeleton instrumental to becoming the most iconic and identifiable tower in Downtown Miami. The tower was the designed by the late Zaha Hadid and was her first residential skyscraper in the Western Hemisphere. The unique tower features an exoskeleton which was made from glass fiber reinforced concrete imported from Dubai.

One Thousand Museum rises 62-stories and offers 84-units. The building’s luxe lifestyle and exclusive amenities are among its most desirable attractions including a private rooftop helipad, making it Miami’s only residential building accessible via its own private airport. One Thousand Museum is also the first residential building in the world to partner with Forbes Travel Guide to create a hospitality-focused experience for residents and their guests on par with the finest hotel in the world.

Additional amenities include a Sky Lounge for dining and private events; an on-premise bank vault; nearby private Beach Club, Museum Beach; access to a house car service, 1KM wellness center featuring state-of-the-art equipment by Techno-Gym, a Spa with relaxation pods and private treatment rooms for spa services and the Aquatic Center featuring an indoor lap-pool at the 61st Floor.

For more information about One Thousand Museum by Zaha Hadid Architects, private showings or purchasing information please fill out the form below:

Bayfront Supertall Tower Waldorf Astoria Hotel And Residences To Launch Sales In March

PMG and Greybrook Realty Partners are gearing up to reportedly launch sales at Waldorf Astoria Hotel & Residences in March. A 6,144 square foot sales center is near completion nearby at 400 Biscayne. Waldorf Astoria Hotel & Residences is a luxury supertall tower which is slated to come to Downtown Miami at 300 Biscayne Blvd. At 100-stories the tower will be the tallest ever to launch sales in Miami, rising 1,041’. The tower is expected to have a sell-out over $1 billion.

The Waldorf Astoria Hotel & Residences is designed by Sieger Suarez Architects and will feature 205 hotel rooms and 400 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc.

Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others.

For more information about The Estates at Acqualina, private showings or purchasing/ leasing information please fill out the form below:

Avra Estiatorio Coming To The Estates At Acqualina In Sunny Isles Beach

Avra Estiatorio of New York and Beverly Hills has announced that it will be opening a new restaurant overlooking the beach at The Estates at Acqualina in Sunny Isles Beach, one of the most luxurious South Florida waterfront resort and residential complex’s South Florida has ever seen. The opening will mark the 4th Avra restaurant in the US, following Avra Madison and Midtown in New York City and Avra Beverly Hills.

Scheduled to open in late 2021, the 10,000 square-foot Greek estiatorio was designed by the award-winning STA Architectural Group. The airy space has a distinctly sophisticated, yet warm character and features floor-to-ceiling windows, high ceilings and a glamorous aesthetic. Diners will be able to hear the sounds of the waves crashing while they eat alfresco and savor oceanfront views, and a meal at the restaurant will offer a transportive experience.

The menu at Avra Estiatorio will offer a menu that focuses on Mediterranean-sourced seafood and traditional platter-style entrées made with imported ingredients. Greek specialties includ fresh fish, grilled or baked in salt and a selection of raw seafood over a dozen line-caught fish, beautifully displayed on an ice bar which is sourced directly from the nets of fisherman in Greece and will be flown into Miami daily. The menu will also feature a selection of Greek specialities salads, cheeses, tzatziki, spanakopita, octopus carpaccio, lamb chops and filet mignon. Every dish is finished with fruity, full-bodied olive oil, bottled exclusively for the restaurant from olives in Greece that are handpicked from ancient groves and pressed within three hours of harvest.

Avra will be located inside Villa Acqualina, a Mediterranean-inspired villa that’s the heart of The Estates with its many amenities including a spa, gym, movie theater, ice skating rink, a speakeasy style bar, a bowling alley and more.

The Estates at Acqualina will be home to 248 ultra-luxury residences delivering an exquisite living experience within a private gated community. Each estate in the sky with wide open views of the ocean will be equipped with the finest appliances, imported stone countertops, smart-home technology and 10-foot 6-inch ceilings and many will be delivered furniture ready. The development will feature lobbies created by the late fashion icon Karl Lagerfeld.

Those who purchase at The Estates will also have access to the neighboring Forbes Five Star and AAA Five Diamond Acqualina Resort & Residences. Residents will be able to take advantage of luxurious, personalized services from the resort, including children’s programming, nanny and child care services, pet care, dry cleaning and laundry services, limousine service, ESPA Spa access and additional dining options at three restaurants, Il Mulino New York, Costa Grill and the new Ke-uH Japanese fusion restaurant.

Residences at The Estates at Acqualina are priced from $4.6 to $14 million with penthouses priced up to $35 million. Construction began in early 2018 and will be completed in late 2021 to early 2022.

For more information about The Estates at Acqualina, private showings or purchasing/ leasing information please fill out the form below:

The Allen Morris Company Proposes Ponce Park Residences in Coral Gables

The Allen Morris Company, headquartered in Coral Gables for nearly 20 years, has announced plans for Ponce Park Residences. The project will consist of 171-luxury residences with retail and restaurant space on the ground level. Most significantly, the project will create a ¾ acre open-air space with an urban park dedicated to the City of Coral Gables.

Ponce Park Residences would be located at 3000 Ponce de Leon Blvd., in Coral Gables, FL, and has received significant input from the City, including three City of Coral Gables Board of Architects meetings to enhance the design of the public park and open space. Groundbreaking is anticipated for Q4 of 2021 with an expected completion date of Q3 2023.

The internationally acclaimed Oppenheim Architecture firm is the lead architect overseeing the design of the rotunda, Mediterranean-styled Ponce Park Residences, while Naturalficial, Inc. will be designing the development’s 31,470 sq. ft. open-air greenspace.

“As longstanding residents of Coral Gables for 4 generations over the past 73 years and with The Allen Morris Company headquartered at the award-winning Alhambra Towers office building in Coral Gables for nearly 20 years, we are very proud to propose a plan for Ponce Park Residences, which would create a beautiful place to live and an urban park area dedicated to the City” said W. Allen Morris, Chairman and CEO at Allen Morris Company. “It truly achieves our goal of honoring the rich Mediterranean history and style that has a storied presence in the city, while further redefining luxury for modern-day living in the Gables.”

The design of the building is inspired by George Merrick’s Coral Gables City Hall and its coral rock rotunda and arcade. Like City Hall, Ponce Park Residences’ podium façade will be covered with natural stone, above which the building tapers back significantly to the project’s slender 80-foot-wide upper floors. No expense was spared in the design and quality of materials for the project.

One-, two-, and three-bedroom residences would range in size from 750 sq. ft. to over 1,780 square feet. Residences would boast 10’ – 12’ ft. high-ceilings with floor-to-ceiling windows. The entire ground floor area will encompass a retail-lined pedestrian paseo joining the park to the northern side of the project, expansive double ceiling height arcade modeled after the historic Hotel Colonnade on Miracle Mile, dozens of specimen shade trees, multiple water features and various seating areas for the public to enjoy.

The beautifully landscaped ¾ acre urban open-air space will feature a public park the Allen Morris Company is dedicating to the City of Coral Gables for the benefit of the Coral Gables community. In total, the project will provide a public benefits package above and beyond what is typically required by providing:

• A contribution of $2.4 million to pay for the creation of the park and integration of the right-of-way surrounding the park

• Maintenance of the park into the future at no cost to the City

• A donation of an additional $1 million towards the beautification of the Fred B. Harnett (Ponce Circle) Park

• The contribution of over $330,000 to the City’s parking fund

First New Miami Building Breaks Ground in 2021

On Thursday, February 11th, Natiivo Miami - the first building purposefully designed, built and licensed for homesharing - officially broke ground in Downtown Miami. This event marked the first residential/hospitality groundbreaking post-pandemic and the first of 2021.  The building, in the heart of Downtown Miami, is slated to top off in August 2022 and completion is projected for Q3 of 2023.

Hospitality entrepreneurs Keith Menin and Marisa Galbut, developers of Natiivo Miami, spoke alongside Mayor Suarez to brokers, friends and family to mark this revolutionary development’s milestone of forging ahead with construction. Remarks were also made by Russell Galbut, Managing Principal of GFO Investments; and leaders from Natiivo’s exclusive sales team, Cervera Real Estate, including Alicia Cervera, Managing Partner;  Ali Paysse Cervera, Sales Director; and Jesse Ottley, President of Development.

Guests enjoyed live music by Brothers of Others, and coffee, pastries and light bites by Natiivo Miami’s culinary partners, Bodega and Dolce Italian. 

After coming to market in the summer of 2019, Natiivo™ Miami’s exclusive sales team, Cervera Real Estate, has successfully sold over 60 percent of the Natiivo™ Miami residences. The team has leveraged its knowledge of the Miami market and international experience, selling over 220 units in 2020, despite facing unprecedented circumstances.

Natiivo™ Miami is a vertically-integrated community that incorporates 448 condominium residences, 140 condominium hotel residences, a 100 unit hotel, a private social club called Natiivo™ Social, with 70,000 plus square feet of amenities, with a culinary experience curated by LDV Hospitality, and Creative HQ that includes 127 for-sale office condos, all under one roof. The development recently announced the addition of three coveted Miami brands, Dolce Mercato, also from LDV Hospitality, offering authentic Italian cuisine with the feel of a sophisticated food hall and the charm and service of a sit-down restaurant; Bodega Taqueria, South Florida’s iconic spot known for its authentic Mexican street food; and Gale Miami Hotel and Residences, the third Gale Hotel property in South Florida.

“With the migration to South Florida and the recent announcements of high-profile tech and finance companies relocating to and expressing interest in Miami, the continued growth of Downtown is imminent,” said Keith Menin. “We are confident that Natiivo™ Miami will play an integral role in this growth and are excited to forge ahead in construction. We’re optimistic for 2021 and hope to set the tone for the Downtown Miami market with the first groundbreaking of the year.”

The Estate Companies, Merrimac Ventures And Tricera Capital Secure $56 Million Construction Loan For Soleste Cityline Apartments

The Estate Companies, Merrimac Ventures and Tricera Capital have secured a $56 million construction loan for Soleste Cityline, a multifamily development planned in Dania Beach. The loan was provided by Synovus Bank and the development partnership plans to break ground by the end of Q1 2021. The 2.2-acre site was acquired in September 2020 for $8 million. The Estate Companies is a subsidiary of Estate Investments Group (EIG), Merrimac Ventures is led by Dev Motwani and Tricera Capital is led by Scott Sherman.

Soleste Cityline was designed by Caymares Martin. The development will be located at 4 N Federal Highway and will rise 8 stories featuring 340 apartments with 12,800 square feet of retail. Units will range from roughly 600 square foot studios to 1,200 square foot three-bedroom floor plans. Amenities will include a pool deck with grilling stations, fitness center, community room and private event space. Upon expected completion in 2023 the retail portion will be owned by Merrimac Ventures and Tricera Capital, both firms have been very active developing and acquiring retail properties in South Florida.

US Construction Launches Sales Of 1625 Ocean In Delray Beach

The New Jersey-based US Construction has launched sales at 1625 Ocean, an oceanfront boutique condo project planned at 1625 S Ocean Blvd. in Delray Beach. 1625 Ocean was designed by Randall Stofft and is located on 120' of beachfront. The building will rise three stories and offer 14 units which range in size from 3,500 to 5,000 square feet and pricing from $3.9 million to $7.5 million. Construction is expected to begin in Q3 2021 with delivery in late 2022.

Residences at 1625 are offered in three and four-bedroom floor plans and will feature oversized terraces with summer kitchens with semi-private elevator access. Amenities at 1625 Ocean include a pool and spa, lounge, fitness center, and a garden. Residents will have access to a private golf cart.

US Construction acquired the 1.17 acre property with an existing 15-unit apartment building, which will be demolished, for $12.3 million in 2020.

For more information about 1625 Ocean, private showings or purchasing information please fill out the form below:

Coworking Provider Industrious Coming To The Dorsey In Wynwood

Coworking provider Industrious has signed a lease for 41,000 square feet at The Dorsey in Wynwood which will be their third location in the Miami area and eighth in Florida. Industrious expects the Wynwood location to open in 2022. The Dorsey is currently under construction after breaking ground in December 2020 and is being developed by the Related Group, Alex Karakhanian’s LNDMRK Development, and Scott Sherman’s Tricera Capital. The JV development partnership secured $87.45 million in construction financing from Bank OZK in January 2021.

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.

The Dorsey is being 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 is located at 280 NW 28th Street.

Related Group Planning Baccarat Hotel & Residences At 444 Brickell

Related Group is reportedly planning to develop Baccarat Hotel & Residences at 444 Brickell. The project would feature three Baccarat-branded, Arquitectonica-designed residential towers on the Miami River where Related Group had previously planned a project known as One Brickell. Related Group acquired the 4-acre property in 2013 for $104 million which currently has an office building and Capital Grille.

Related Group has approvals for three towers would rise 57-stories, 77-stores and 82-stories. The mixed-use residential towers would offer 1,400 residential units, 249 hotel rooms, 41,272 square feet of office space, 24,263 square feet of retail space and over 1900 parking spaces. Amenities will include a resort style pool, spa, fitness center, business center and lush landscaping by Enzo Enea. Related Group will also build a riverwalk as part of their commitment to the City of Miami.

Baccarat is a French manufacturer of fine crystal glassware which is majority-owned by Groupe du Louvre, a subsidiary of the United States company Starwood Capital Group, led by Barry Sternlicht. Baccarat currently has their Baccarat Boutique B Bar and Lounge in Miami Design District and The Baccarat Hotel & Residences in New York.

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.