A Penthouse At ARTE by Antonio Citterio Sells For Record $22.5 Million In Cryptocurrency

ARTE by Antonio Citterio, the exclusive boutique condominium which recently opened in Miami’s Surfside neighborhood, has sold its lower penthouse for $22.5 million in cryptocurrency. The deal makes the first cryptocurrency real estate transaction for a new development in Miami. ARTE by Antonio Citterio was developed by Alex Sapir’s Sapir Organization and Giovanni Fasciano. The development became the first new residential development in Miami to accept cryptocurrency as a form of payment earlier this month. The deal was overseen by Tara West of Douglas Elliman, who represented the developer, and Ryan Farbstein and Max Farbstein of The Farbstein Team at Douglas Elliman, who represented the buyer.

The transaction for the 5,067 SF PHB has broken several records including the most expensive price per square foot ever sold in Surfside at $4,440.50 PSF, and the second highest penthouse sale in Miami Beach since 2017. The deal also is the highest price pre square foot sale for a condo in 2021.

For cryptocurrency transactions ARTE has a partnership with blockchain and securities trading platform SolidBlock, which provides custom solutions for buying and selling digital assets. SolidBlock ensures that buyers paying in cryptocurrencies such as Bitcoin and Ethereum enjoy an easy and straight-forward purchasing experience.

Nestled in Surfside, the seaside enclave between Bal Harbour and Miami Beach, ARTE is a boutique, oceanfront development at the center of the city’s most vibrant cultural, culinary and shopping destinations. Featuring a stunning design by Italian master architect Antonio Citterio, the building offers impeccable interiors and finishes, as well as ten-star amenities and service. The development was built to cater to an exclusive selection of buyers who have not found quality design, exclusive privacy or outstanding service anywhere else in Miami.

ARTE residents enjoy a robust suite of amenities not found in other Miami luxury condominiums. They include a 75-foot indoor swimming pool, an outdoor swimming pool and beachfront meditation pond, a rooftop tennis court, state-of-the-art fitness center and yoga studio and sauna and steam room. Additional facilities include a children’s playroom with space for remote learning, residents’ lounge, catering kitchen for out-of-home entertaining, and private temperature-controlled parking spaces.

Prices at ARTE by Antonio Citterio start at $10.3 million, or the equivalent cryptocurrency rate, and the spacious three- to five-bedroom plus residences range in size from approximately 3,150 to 7,550 square feet. Sales are exclusively handled by Douglas Elliman Development Marketing.

For more information about ARTE by Antonio Citterio, private showings or purchasing/ leasing information please fill out the form below:

Ugo Colombo's CMC Group Sells Brickell Flatiron Sales Center Property For $6.5 Million

Ugo Colombo’s CMC Group has sold the Brickell Flatiron sales center site at 1101 S Miami Ave. for $6.5 million to Retail Ocean LLC. The deal was overseen by Fabio and Sebastian Faerman of FA Commercial with Fortune International Realty, who represented the buyer, and Chris Suarez of CMC Group, who represented the seller. The 7,688 SF triangle shape site was acquired by CMC Group in 2013 as part of the original assemblage for Brickell Flatiron, a luxury condo tower that when completed in October 2019 was tallest condominium south of Manhattan. CMC Group initially launched sales for the 64-story, 527-unit tower in 2014. The buyer for the sales center property is a group of Argentine investors who plan to develop the site and bring in a major restaurant group for a flagship restaurant.

CMC Group is currently developing Onda, a 41-unit luxury condo project in the Bay Harbor Islands, in partnership with Morabito Properties.

KAR Properties and Fortune International Group Buy Out Remaining Reach and Rise Residences at Brickell City Centre

KAR Properties and Fortune International Group have bought out the remaining 81 unit inventory at Reach and Rise Residences at Brickell City Centre, officially marking the sell out of the residential development. KAR Properties and Fortune International Group will be focusing on selling the recently purchased units with Fortune Development Sales leading these efforts. 

“As fellow developers in the downtown Brickell area, we have great respect for Swire. The company has played an integral role in the transformation of Brickell,” said Shahab Karmely, CEO and Founder of KAR Properties. “The most dynamic part of Miami is downtown, particularly along the riverfront, where we are developing One River Point by Rafael Viñoly as part of a three-phase luxury development located directly across the river from Brickell City Centre.” 

KAR Properties and Fortune International Group believe the existing inventory in today’s market is attractive for the consumer looking to buy and live in Miami now. The continued investment Swire Properties placed into the development, the timing in today’s real estate market, the residences’ prime location and its elite quality are just a few of the reasons the two firms believed in this investment. 

“Brickell City Centre has enhanced Miami’s Brickell neighborhood, bringing high end retailers, global cuisine and entertainment to the community. As Miami’s global appeal and market demand rises, real estate continues to be a smart investment option,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Our firm has had long-term success in the industry with a strong grasp on what is happening in the South Florida market. It is clear Swire Properties has developed a landmark destination for the community.” 

The luxury condominium towers are an anchor for the mixed-use property of Brickell City Centre developed in 2014. This master plan destination stands out as a hallmark of Brickell’s live-work-play lifestyle, attracting both local and international residents and celebrities.

“Swire Properties is delighted to sell the remaining inventory of 81 units to respected investors KAR Properties and Fortune International Group, in a significant transaction that reflects their shared commitment to this outstanding product and belief in Brickell City Centre,” said Kieran Bowers, President of Swire Properties. “Swire Properties will continue to invest in Brickell over the coming years and attention will now turn to the development of the remaining phases and parcels surrounding Brickell City Centre.”

The Transit-Oriented Mixed-Use Development CORE Link at Douglas Launches Leasing

The transit-oriented CORE Link at Douglas, a new 312-unit mixed-use multifamily tower, has launched leasing at the intersection of Coconut Grove and Coral Gables. Slated to open in August at 3060 SW 37th Avenue, CORE will become the first tower to open at Link at Douglas, a 7-acre mixed-use development being developed adjacent to Miami’s Metrorail and The Underline linear park. The project is being developed by a joint venture between Miami-based real estate developers 13th Floor Investments and Adler Group, in partnership with global investment manager Barings.

The 22-story residential building will feature studios, one-, and two-bedroom apartments with upscale finishes and panoramic city views. Leasing rates will start at $1,690 for studios, $2,090 for one-bedrooms and $2,790 for two-bedrooms. As part of a special pre-leasing promotion, CORE is offering one month free for new renters, with an additional second month free for those signing a lease without a car and planning to utilize the development’s nearby transit access.

Apartments feature private balconies, floor-to-ceiling windows and a modern design that offers ample natural light. Residences are designed with luxury plank flooring, granite countertops, modern kitchen hardware and appliances, an in-home washer and dryer, and porcelain shower walls.

Amenities include a rooftop pool deck with stunning views, poolside grilling, private cabanas, as well as a fitness center with a yoga studio, business center, media room, and a social lounge complete with billiards, shuffleboard, ping pong, and a furnished seating area centered on a fireplace. Other amenities include secured package room, bike storage, and Wi-Fi in all common areas.

CORE’s ownership has selected The Bozzuto Group to provide property management, including full-service concierge, 24-hour maintenance, resident app, monthly resident events and its signature away-from-home services of plant care, newspaper delivery and in-home package delivery.

Located along US-1 and Douglas Road, CORE and Link at Douglas are perfectly situated to offer direct access to Miami-Dade County’s Metrorail system, the Miami-Dade bus lines and the Coral Gables Trolley. Directly underneath the property, residents can enjoy outdoor workout activities along The Underline, a 10-mile linear park under development that spans from Downtown Miami to South Miami.

“We are excited to deliver our first building at Link at Douglas. With CORE, we wanted to set a new standard for those who want a more connected lifestyle,” said Aaron Stolear, Associate Vice President of 13th Floor Investments, on behalf of the joint venture development team. “At CORE, residents will lease apartments but will ‘live’ at the building – the amenities are just that spectacular.”

CORE will be followed by CASCADE, an adjacent 36-story multifamily tower set to open at Link at Douglas in mid-2022, which will feature a 25,000-square-foot Milam’s Market on the ground-floor level. All told, the Link at Douglas development’s master plan will encompass 1,422 residential units, over 32,000 square feet of retail space, a 280,000-square-foot office building, and a public plaza that connects with The Underline.

Renderings via 13th Floor Investments/Adler Group/Barings

Aria Development Group Reveals Short-Term Rental Condo Tower 501 First In Downtown Miami

Aria Development Group has revealed plans and renderings for 501 First, a short-term rental positioned condo tower proposed in Downtown Miami. A building at 501 NE 1st Ave. that dates back to 1924 and previously served as the YotelPad sales center will be demolished. 501 First is designed by Revuelta Architects and will feature interiors by Shim Projects. The developer has begun marketing the project and units will start at roughly $300,000. The tower is expected to be completed in Q1 2023.

501 First will rise 40-stories and will feature 448-residential units which will range from studio to 2-bedroom floor plans, 385 to 835 SF. Residences will be delivered fully finished and furnished including built-out closets, floor-to-ceiling glass windows, in-unit washer and dryer and balconies which will offer views of the Miami skyline and Biscayne Bay.

Amenities include a 20,000 SF double-height amenity space on the top two floors which will feature a residents lounge, game room, chef’s kitchen, media room, world-class fitness center, rooftop movie theater and a rooftop pool. Other services and amenities will include a 24-7 valet, bicycle storage, a pet lounge, co-working space on the building’s lower floors and a ground-floor restaurant and bar which will be operated by GPG Hospitality. 501 First will not have a parking component.

501 First is among a group of short-term rental approved condo towers which have launched sales in recent months in Downtown Miami. Aria Development Group is wrapping up construction on YotelPad and sales are underway at E11EVEN Hotel & Residences, Natiivo, Waldorf Astoria Hotel & Residences and Legacy Hotel & Residences Miami Worldcenter.

For more information about purchasing a residence in 501 First, private showings or purchasing/ leasing information please fill out the form below:

The Estate Companies Locks Down $76 Million Construction Loan For Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), has locked down a $76 million construction loan for Soleste NoMi Beach apartments in North Miami Beach. The financing was provided by Bank OZK was arranged by Brian Gaswirth and Michael DiCosimo of JLL. The developer plans to break ground by the end of June after closing on the site in December 2020 for $13.1 million.

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.

Soleste NoMi Beach was approved in September 2020 and was designed by Form Group. The 1.78-acre site is located at 16395 Biscayne Blvd.

The Kobi Karp-Designed Class-A Office The Gateway At Wynwood Powering Towards Completion

The Gateway at Wynwood, the newest Class-A office building in Wynwood’s emerging neighborhood and new office submarket, is powering towards completion in the second half of 2021 after topping off in December 2020 at 13-stories. The project, which is located at 2916 N Miami Ave., is being developed by R&B Realty Group and is designed by Kobi Karp. Plaza Construction is the general contractor. The Gateway at Wynwood will feature 195,000 SF of leasable office space, private rooftop terrace and 25,900 SF of retail space on the ground floor.

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

For more information about commercial leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:

Ian Bruce Eichner's Continuum Company Closes On Bay Harbor Waterfront Development Site, Plan September Sales Launch

Ian Bruce Eichner, developer of the Continuum South Beach, an iconic luxury condo tower in Miami Beach’s exclusive South of Fifth neighborhood, is back in South Florida with a new project involving two of the last large-scale vacant land parcels remaining in Bay Harbor Islands, Florida.

Eichner’s Continuum Company close on two properties located at 9201 East Bay Harbor Drive and 9461 East Bay Harbor Drive for $29,500,000. Phil Gutman oversaw the transaction and will be spearheading sales and marketing efforts for the project. Eichner submitted plans to the city, which are subject to modification, calling for two 7-story condominium towers with a combined 142 units and 34 boat slips.

“We’ve been looking for the right development opportunity to re-enter the Florida market. Bay Harbor is an overlooked neighborhood with many of the same attributes that contributed to the desirability and success of Continuum South Beach,” said Eichner.

Presales are anticipated to launch this September with a planned December groundbreaking. The 23-month construction schedule calls for a November 2023 delivery date. As with the Continuum South Beach, this Bay Harbor project will offer the same high quality deliverables and finishes that have become hallmarks of the Continuum Company.

“Bay Harbor is a phenomenal community. Steps from the beach and walking distance of the Bal Harbor Shops, we envision a development that will offer Bay-front living with boat slips that will allow residents to take full advantage of direct access to Biscayne Bay, the Atlantic and nearby boating destinations like the Bahamas and Florida Keys,” said Eichner.

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach Now Over 70% Sold

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach is now over 70% sold since sales launched on February 1, 2021. The sales represent 10 out of the 15 villas in the Collection with total sales volume over $68,390,000 for 10 the units under contract since sales launched February 1.

The Villas at The Ritz-Carlton Residences, Miami Beach are being developed by GFI Development Co. as the 3rd-party development manager on behalf of 4701 North Meridian LLC. and designed by the world-famous Italian architect Piero Lissoni. The Residences will be ultra-luxurious single-family waterfront homes with dockage. The homes are part of The Ritz-Carlton Residences located in Mid-Beach where the lake, ocean and waterway meet and just minutes from Downtown and South Beach.

The villas will be free-standing and two-stories tall for optimal privacy and space with interiors and exteriors fully designed by Piero Lissoni. Villas will range in size from three-bedrooms to five-bedrooms and feature a two-car garage, fenced yard, private infinity-edge pool and a landscaped waterfront.

The Villas share access to the Ritz-Carlton Residences, Miami Beach’s resort-style amenities including an art studio, 36 private boat slips, an on-site captained Frauscher day yacht, a half-acre rooftop pool deck with private cabanas, a poolside resident-only restaurant, a food forest community garden, a club room, waterfront social room and more. There will be a concierge service to help book beach access, the cinema-style screening room, fitness center, yoga room and meditation garden. The amenities are compliment of The Ritz-Carlton lifestyle of bespoke experiences with a high level of service known in the industry.

The Villa Collection at the Ritz-Carlton Residences are located at 4701 Meridian Avenue in Miami Beach. Pricing ranges starting from $4.375M. The project is exclusively marketing is by Douglas Elliman Development Marketing.

For more information about The Piero Lissoni Villa Collection At The Ritz-Carlton Residences, private showings or purchasing/ leasing information please fill out the form below:

Location Ventures Closes On South Beach Assemblage For $20 Million Where Co-Living Project Urbin Miami Beach Is Planned

The Coral Gables-based Location Ventures, led by Rishi Kapoor, has closed on the Washington Avenue assemblage where they have planned Urbin Retreat Miami Beach for $20 million. The acquisition was financed with at $14 million mortgage assumed from the seller, Fryd Properties. The assemblage includes a 10,697 SF retail property at 1260 Washington Ave. and an office building at 1234 Washington Ave.

Prior to closing, Location Ventures has had the Urbin Retreat Miami Beach project in the works since at least 2019. Urbin Retreat Miami Beach is designed by Touzet Studio was approved by Miami Beach’s Historic Preservation Board and Planning Board in August 2020. Urbin Retreat Miami Beach will be a co-living, co-working and wellness platform featuring 60 residential units for a combined 120 bedrooms, retail, co-working space, a rooftop bar and a ground floor restaurant and bar.