Waterfront Coconut Grove Spec Mansion Sells For Record Breaking $65 Million

A waterfront spec mansion which is currently under construction at 3488 Saint Gaudens Road in Coconut Grove has sold for a record $65 million. The sale price includes the cost of completing the home and is the most expensive closed home sale ever in Miami-Dade County. The deed traded for $50 million, but the $65 million sale price includes the cost of completing the home.

The seller was Isaac Perez and the buyer is a Delaware LLC who financed the acquisition with a $20 million mortgage from Maxim Capital Group. Jorge Uribe of ONE Sotheby’s International Realty represented the seller and Oren Alexander of The Alexander Team at Douglas Elliman represented the buyer.

3488 Saint Gaudens Road was designed by Pacheco Martinez & Associates. The estate spans 4.3 acres which Perez acquired for roughly $24.2 million. He purchased the first three lots in the assemblage for $18 million in 2013 and later added a fourth parcel for $6.2 million in 2020.

Coconut Grove has been a hot neighborhood for ultra-luxury real estate deals. Jorge Mas sold his waterfront home known as Casa Bahia at 3085 Munroe Drive for $45.91 million and in June 2021 private equity investor Nathan Leight of Terrapin Partners sold 3500 and 3535 Curtis Lane for $48 million. Related Group’s founder Jorge Pérez recently listed his waterfront home for $33 million.

The record for most expensive home sale in Miami-Dade County was previously held by 3 Indian Creek Island Road which traded for $49.9 million in 2019.

Images via Pacheco-Martinez & Associates

OKO Group And Cain International's Missoni Baia Has Topped Off At 57-Stories In Edgewater

OKO Group and Cain International’s Missoni Baia tower in Miami is one step closer to completion after topping out at 57 stories, 649’. The Missoni-branded luxury condominium is designed by Asymptote Architecture, led by Hani Rashid, and is located at 777 NE 26th Terrace along Biscayne Bay in the City’s Edgewater neighborhood. Most of the tower’s 249 units are already sold ahead of its projected completion later this year with $110 million in sales since January 2021.

Missoni Baia is being developed by a partnership between OKO Group, one of South Florida’s most active and successful luxury development firms helmed by international real estate mogul Vladislav Doronin, and Cain, a privately held investment firm with approximately $6.7 billion in real estate equity, debt and leisure business investments led by Jonathan Goldstein. Sales and marketing are led by Fortune Development Sales.

“Miami has garnered much attention in the last year and is arguably one of the most dynamic cities in the United States, possibly the world at the moment,” said Jonathan Goldstein, CEO of Cain International. “We are thrilled with the momentum we are seeing across our residential portfolio and remain confident that Missoni Baia will continue to benefit from its coveted waterfront location, proximity to Miami’s CBD and Design District, as well as its world-class design features and amenities. Reaching this milestone is a huge step for Cain and our partners and we look forward to continuing to support Miami’s growth into a global gateway city.”

The top off announcement comes as Miami’s real estate market experiences a surge in sales from domestic buyers, specifically coming from major U.S. cities across the Northeast and Midwest regions, enticed by South Florida’s desirable quality of life, lower business and living expenses, and tax-friendly policies. Since January 2021, Missoni Baia has completed over $110 million in condo sales, widely purchased by domestic buyers either buying second homes or looking to relocate to Miami completely.

Missoni Baia’s modern architectural design and sleek, minimalist art-inspired façade is being brought to life by architect Hani Rashid of Asymptote Architecture, with a richly layered landscape designed by Enzo Enea of Enea Garden Design.

“With its exceptional location, spectacular views, superior quality and top-of-the-line luxury amenities, Missoni Baia stands out as one of the best value-buys in all of Miami – and we’re excited to soon welcome residents to their new homes,” said OKO Real Estate CEO Vanessa Grout, who oversees sales for OKO Group. “As we quickly approach the building’s completion later this year, purchasers are seeing a new standard of construction and design brought to Miami’s best new neighborhood.”

As Missoni’s first-ever branded residential tower, the Italian design and fashion house is incorporating its trademark colorful design palette and Missoni Home furniture collection into the tower’s vibrant interiors, including all public spaces and amenity areas. New York designer Paris Forino, under the creative direction of Angela and Rosita Missoni, has envisioned the tower’s elegantly crafted residences, furnishings, and artworks.

Priced from about $650,000 to upwards of $9 million, residences at Missoni Baia range from one- to five-bedroom layouts measuring between 776 and 3,788 SF in size. Every residence offers direct bay or city views, with panoramic vistas of Biscayne Bay, Downtown Miami, Miami Beach, and the Atlantic Ocean.

Residences feature 10’ ceilings, 8’-10'-deep terraces, impact-resistant glass windows and sliding doors, floor-to-ceiling glazing, marble-encased bathrooms with European style lacquered cabinets and mosaic tile floors, and custom-designed kitchen cabinetry with top-of-the-line appliances.

Amenities at Missoni Baia will include an array of sporting and leisure activities that will integrate the comfort of a luxury resort with the ambiance of a private residence. Residents will enjoy five separate pools including an Olympic-sized swimming pool, a cantilevered infinity pool with limitless views of Biscayne Bay, a lounge pool, whirlpool spa, and a children’s pool and splash pad area. The tower will also feature two poolside resident lounges, private cabanas, elevated tennis courts, one of the city’s largest and elegantly appointed spas with sauna/steam facilities and private massage treatment rooms. Additional perks include a state-of-the-art gym with 180-degree bay views, dedicated yoga and Pilates studios, a kids’ club and indoor play area, a hair and nail salon, a pet spa, and a private screening room. Residents will also receive exclusive membership access to the Grand Bay Club on the beachfront of Miami’s Key Biscayne.

Situated along the bayfront just north of Downtown Miami, nestled between the Venetian and Julia Tuttle Causeways,, the two main arteries connecting the City of Miami and Miami Beach, Edgewater has fast-emerged as the epicenter of the new Miami. The surrounding neighborhoods of Downtown’s Arts & Entertainment District, Miami Design District, Wynwood Arts District, Midtown Miami, and Miami Beach put residents within blocks of luxury retail shops, high-end restaurants and world-class arts and culture venues.

Missoni Baia is OKO Group and Cain International’s latest residential tower in Miami. The team has another two developments under construction nearby, including Una Residences, a 47-story luxury condominium on the waterfront in the City’s South Brickell District, and 830 Brickell, a class A-plus office tower in the heart of Downtown’s Brickell Financial District – both designed by Adrian Smith + Gordon Gill. Additionally, OKO Group recently received approval to bring an Aman Hotel & Residences to Miami Beach’s Faena District.

Images via Golden Dusk Photography; Renderings via OKO Group & Cain International

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

Multifamily Development Site For Approved M Tower Sells For $10 Million In Downtown Miami

The New York-based Lions Group has acquired a development site in Downtown Miami for $10 million which has a project known as M Tower approved to be built. M Tower is planned to rise 53-stories and offer 440-unit apartment units, located at 56 SW 1st St and 65 SW 2nd Street. Colliers' Urban Core Division Executive Managing Director Mika Mattingly and Associate Cecilia Estevez represented the seller, the Aventura-based S2 Development, and EP Realty’s Estrella Perez represented the buyer, Lions Group, in the transaction.

“The downtown Miami market has never been more active than it is right now,” Mattingly said. “This market is poised to see the largest influx of investors ever from other states and this transaction highlights that trend. New York-based Downtown 1st Street LLC’s purchase of this development site proves that the migration from the Northeast has only accelerated as the vibrant downtown neighborhood continues to evolve.”

M Tower will consist of 622,783 SF of gross building area, with 25,732 SF of office space and 1,089 SF of retail. The development site also includes a parking garage owned by the Miami Parking Authority (MPA), located at 70 SW 1st St. The 16,718 SF site includes air rights, waivers, and the ability to build residential units over the adjacent parking garage. The proposed units are targeted toward students and young professionals looking for a connected urban experience, currently the largest market of downtown residents.

The project has Urban Development Review Board (UDRB) approval, which it obtained through an extensive RFP process. The entitlement provides additional air rights, waivers, and the ability to construct a residential tower over the adjacent Miami Parking Authority (MPA) garage.

Downtown Miami continues to experience robust demand as it attracts a younger, wealthier and more educated population. Downtown is the largest employment center in Miami-Dade, with more than 175,000 employees and a day-time population of 235,000. The city is home to the highest concentration of banks and financial institutions outside of Manhattan, and tourism is at an all-time high with more than 6 million visitors per year. M Tower stands to benefit from the area’s rapid population growth. Since 2010, the population of Downtown Miami has increased approximately 52% and is expected to increase another 16% by 2024.

Alco International Group Hits $75 Million Sell Out Of Adagio Fort Lauderdale

Adagio Fort Lauderdale, a luxury condominium developed by Alco International Group, has achieved its $75 million sell out with development sales let by ONE Sotheby’s International Realty’s Development Division.

The 10-story boutique building features spacious, flow-through, three-bedroom, three-and-one-half bath residences ranging from 2,383 to 4,085 SF. Positioned along the widest stretch of Fort Lauderdale’s Intracoastal waterway, Adagio Fort Lauderdale Beach features panoramic waterfront views and a private marina with six dock slips and direct access to the ocean.

In addition to the private marina, amenities include a scenic roof-top pool and a second ground-level pool overlooking the Intracoastal waterway, private cabanas, fitness center with a cardio and yoga studio, clubroom with coffee bar, pet-friendly atmosphere with grooming station and ample private storage.

Images via Adagio Fort Lauderdale, One Sotheby’s International Realty

Onda Residences Luxury Condominium Opens Brand New Waterfront Sales Gallery in Miami’s Bay Harbor Islands

CMC Group and Morabito Properties, the developers behind Miami’s newest luxury condominium development, Onda Residences, have announced the official opening of a new state-of-the-art waterfront sales gallery in Bay Harbor Islands. The Onda sales gallery showcases the modern interior elements, quality materials and high-end finishes that emulate the sophisticated look and feel of the 41-unit boutique development imagined by world-renowned Italian designers A++ Sustainable Architecture. Now open to the public at 10301 East Bay Harbor Drive, Onda’s sales gallery is situated directly adjacent to the condominium’s future waterfront site along Biscayne Bay. Construction of Onda is slated to get underway later this year and be completed in 2023.

Fortune Development Sales is managing sales and marketing for Onda Residences, with nearly 40 percent of the development’s units already pre-sold since launching sales in March, with a majority of buyers hailing from the U.S.

Onda’s sales gallery features a scale model of the building, sample renderings and views, as well as a model kitchen, living room and master bathroom. The interior décor, designed by A++ Human Sustainable Architecture, incorporates natural materials and textures amid light wooden floors, stone and marble accents, and mid-century style furnishings – all in tones of white, beige, gray, brown and gold. Lush green foliage and planters are incorporated into every room, with views of the turquoise waters of Biscayne Bay on full display. Outside on the waterfront deck, oversized lounge furniture pieces invite guests to take in the ocean air while emulating the relaxing atmosphere of Onda’s rooftop pool deck.

Onda’s 41 impeccably finished residences include two- to four-bedroom layouts measuring between 1,809 to 3,525 square feet, with four penthouse residences up to 5,073 square feet in size – two of which will include private rooftop pool decks. Prices range from $1.8 million to over $9.5 million.

All residences will feature an office/den, private and semi-private high-speed elevators, floor-to-ceiling impact-resistant sliding glass doors and windows, spacious tiled terraces with private gardens, open floor layouts with up to 9-foot grand ceiling heights, fully-accessorized Snaidero kitchens with top-of-the-line Miele appliances, bathrooms with Italian marble and wood cabinetry, exquisite Italian flooring throughout, energy-efficient air conditioning and heating systems with ultra-quiet technology, and air and water filtration systems.

Located just west of the world-class shopping mecca Bal Harbour Shops, Bay Harbor Islands is one of the most sought-after residential neighborhoods in Miami. The exclusive two-island waterfront enclave is situated roughly two miles north of Miami Beach and neighboring Indian Creek Island, a private island famously known as “Billionaire Bunker” for its roster of celebrity residents. Bay Harbor Islands is renowned for its charming small-town community vibe, proximity to Miami’s poshest retailers and restaurants, and stunning waterfront location and views. The walkable family-oriented village also offers an abundance of parks and green space, along with access to one of the best schools in Miami-Dade County.

Onda – also known as the Italian word for “wave” – has been architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors imagined by creative design masterminds Carlo and Paolo Colombo of A++ Human Sustainable Architecture, and lush landscaping by award-winning landscape architect Enzo Enea of Enea Garden Design.

Among Onda’s standout features is over 300 feet of bay frontage, a private marina for the exclusive use of residents with boat slips, a water sports launch dock with available kayaks, paddle boards and inflatables, and direct ocean access through Miami’s Haulover inlet.

Building amenities and features will include a rooftop pool deck and lounge area; a state-of-the-art fitness center with Technogym equipment, a yoga studio, a spa with massage treatment rooms, changing facilities, and steam bath and sauna rooms. A private marina for the exclusive use of residents with boat slips, a water sports launch dock with available kayaks, paddle boards and inflatables, and direct ocean access through Miami’s Haulover inlet. Onda will also feature personalized services, advanced security and technology along with a front desk reception, covered valet drop-off area, personal parking spaces, electric vehicle charging stations and bicycle storage, and residential storage space. The building will offer an integrated digital concierge along with readily accessible WiFi throughout all public spaces, and FTTH (fiber to the home) technology for voice, video and high-speed internet.

For more information, including preconstruction sales opportunities, please contact Fortune Development Sales at (305) 344-1234 or info@ondaresidences.com and visit the development’s sales gallery at 10301 East Bay Harbor Drive, Bay Harbor Islands, FL 33154.

Learn more at www.ondaresidences.com.

Renderings:

This article was produced as part of a partnership with ONDA Residences.

James Curnin Sells Max Strang-Designed Modern Farmhouse Spec Home On Miami Beach's Allison Island For $13.875 Million

Spec home developer James Curnin of Clara Homes has sold his latest single family spec home project, a Modern Farmhouse on Allison Island, for $13,875,000 to ADW Capital’s Adam Wyden. Located at 6431 Allison Road, the deal was overseen by Oliver Lloyd of Douglas Elliman. The Modern Farmhouse was first listed for $15,300,000 in June of 2020.

The Modern Farmhouse is situated on a guard-gated Island is designed by renowned architect Max Strang. The home spans 7,000 SF spread over five bedrooms, six full bathrooms, two-half bathrooms plus staff quarters. A gym with an outdoor terrace including a full bathroom and inferred sauna can easily be converted to a sixth bedroom.

The home also features a large chef’s kitchen attached two-car garage, second level family room and separate den. Finishes include 12’ ceiling height on the main level allows natural light to flood the entertaining spaces laden with wide-planked European white oak flooring. The Modern Farmhouse also comes smart home powered by the Vantage platform. Outside offers lush landscaping, a summer kitchen, pool and 75’ of prime water frontage and a private dock with no fixed bridges.

ADW Capital Partners, L.P. is an investment fund managing more than $314 million managed by Adam Wyden.

The developer James Curnin is the great-grandson of Jack Parker, founder of Jack Parker Corp. which developed the Le Parker Meridien hotel in Midtown Manhattan. After graduating from University of Miami in 2008 he joined the Jack Parker Corporation before pursuing ground-up, single family home development opportunities in West Hollywood and Bel Air. In Los Angeles he hired and worked closely with architects Philip Vertoch and Paul McClean on three residential developments comprised of over 60,000 SF and $55 million in closed transactions including a $24 million home on Doheny Drive. By 2017, having sold all three Los Angeles homes, James set sight on Miami Beach where he established Clara Homes, and continues to focus on high end homes.

Imagery via Lifestyle Production Group

Brightline Reveals New Renderings of Recently Approved Boca Raton Brightline Station

Brightline continues to cement their expansion connecting South Florida by rail after Boca Raton’s Planning and Zoning Board approved the proposed design for the Boca Raton Brightline Station. Brightline revealed new renderings of the station where preliminary work on the site is already underway. Construction on a community garden and temporary parking lot which will enable construction of the station are expected to be completed by August 2021. The project will have to go through a final vote by the Boca Raton City Council in August and a request for proposals will be issued to contractors for the station in the near future.

The Federal Railroad Administration is planning to award $16.5 million towards construction of the project. On July 7, 2021 a pre-award approval was issued to Brightline to begin to purchase materials for the project.

PMG And Greybrook Realty Partners Top Off Society Biscayne Tower At 400 Biscayne Boulevard

PMG and Greybrook Realty Partners have topped off Society Biscayne, their 49-story social living community located at 400 Biscayne Boulevard in Downtown Miami. The Sieger Suarez Architects-designed tower rises 574.2’ and features a mix of residential, retail, office and religious uses. The tower broke ground in June 2019 after the developers locked down a $161.5 million construction loan. Construction is moving quickly with unit framing and installation of glass paneling surrounding the podium of the building is well underway. Society Biscayne expects to launch their pre-leasing program later this summer with the first expected occupants set to move-in January 2022.

Society Biscayne is a 646-unit social living community which features 40,000 SF of amenity space including a sky pool bar, an oversized fully-equipped modern gym, and expansive waterfront views. Society Living communities are designed to provide a growing urban renter population with an enhanced social living experience, along with co-living options that address the strong demand for attainably priced rental housing in attractive urban locations across the U.S.

Miami’s Downtown is one of the city’s rapidly transforming submarketsNearby at 300 Biscayne PMG and Greybrook Realty Partners are also developing Waldorf Astoria Hotel & Residences Miami, an ultra-luxury development which is set to be the tallest tower south of Manhattan and transform the city skyline. PMG also recently launched E11EVEN Hotel & Residences in Downtown Miami across the street from E11EVEN Nightclub. The tower will rise 65-stories and features 375 fully-furnished condo-hotel units which start at $385K. The project is reportedly already 70% sold-out after launching sales in late-January 2021.

Todd Michael Glaser And Partners Launch One-Of-A-Kind Mega-Mansion 10 Tarpon Island Asking $200 Million

Todd Michael Glaser and his partners have launched a one-of-a-kind Palm Beach private island estate asking $200 million. The private island estate is located at 10 Tarpon Island, a small private island at the end of Tarpon Way in Palm Beach’s estate section. Glaser was linked to the never listed 2.27 acre property earlier this year. Glaser and his partners including Jim Randall, Scott Robins and Jonathan Fryd, eventually acquired the home for $85 million.

Glaser and his partners are planning on expanding and renovating the five bedroom home which was first built in 1939. The existing home on the property spans 12,321 SF but the redevelopment plans for a 25,000 SF mega-mansion designed by Dailey Janssen Architects with 1,300’ of linear water frontage, a 6-car garage and 2 pools. Tarpon Island was created in the 1930’s on the Lake Worth Lagoon and last sold for $7.6 million in 1998.

Todd Michael Glaser has been extremely active in South Florida’s ultra-luxury spec home market over the past several years. In Palm Beach Glaser is currently redeveloping the former estate of the late disgraced financier Jeffrey Epstein and recently sold an oceanfront estate on South Ocean Boulevard for $28.5 million. In Miami Glaser and his partners Randall, Robins and Fryd recently acquired the former estate of “Sábado Gigante” host Don Francisco for $23.8 million. He is also developing 37 Indian Creek which just launched for $55 million, 6015 North Bay Road, 163 Bal Cross, 386 Golden Beach Drive and a myriad of other ultra-luxury spec mansions and owner reps homes.

Imagery via Todd Michael Glaser

Todd Michael Glaser Sells South Ocean Boulevard Palm Beach Oceanfront Estate For $28.5 Million

Real estate developer Todd Michael Glaser has sold an oceanfront Palm Beach estate for $28.5 million. Located at 870 S Ocean in Palm Beach's coveted Estate Section, the home is currently undergoing renovations which are slated for completion in late 2021. Chad Carroll with the Carroll Group at Compass represented the buyer while Suzanne Frisbie with the Corcoran Group represented Glaser.

870 S Ocean spans 6 bedrooms and 7.5 bathrooms spread over 7,589 SF. The redevelopment is being designed by DOMO DESIGN + ARCHITECTURE and when complete the mediterranean style home will offer the most lavish luxury finishes and a spectacular beachfront cabana and pool.

Todd Michael Glaser has been extremely active in South Florida’s ultra-luxury spec home market over the past several years. In Palm Beach Glaser is currently developing 10 Tarpon Island which he recently launched for $200 million. He is also redeveloping the former estate of the late disgraced financier Jeffrey Epstein. In Miami Glaser and his partners Randall, Robins and Fryd recently acquired the former estate of “Sábado Gigante” host Don Francisco for $23.8 million. He is also developing 37 Indian Creek which just launched for $55 million, 6015 North Bay Road, 163 Bal Cross, 386 Golden Beach Drive and a myriad of other ultra-luxury spec mansions and owner reps homes.

Imagery via Suzanne Frisbie

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