Merrick Manor Sells Out Commercial Spaces With Sales Of Prime Ground-Floor Retail Suite

Merrick Manor continues to generate strong interest from investors seeking Class A commercial real estate in Coral Gables. The luxury mixed-use building developed by the Henry Torres-led Astor Companies, has sold out the commercial spaces following the $5.44 million sale of several retail condominiums, including two units occupied by popular fitness studio Sweat 440.

Prisma Properties LLC acquired Merrick Manor commercial units CU3, CU8-9 and CU10 in a transaction that closed on April 26. ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale. Merrick Manor’s ground-floor retail space is now fully leased or owned by owner/users.

Sweat 440 occupies 3,055 square feet in CU8-9. The high-intensity interval training (HITT) studio has a passionate following among its members, which range from beginners to fitness enthusiasts. Sweat 440 has locations in Florida, New York and Canada.

The 1,307-square-foot CU3 is currently utilized as the Sales Gallery for Merrick Manor’s limited inventory of available luxury residences. Located at 301 Altara Ave., next to the world-class Shops at Merrick Park and in the middle of the city’s Design and Innovation District, Merrick Manor is experiencing brisk residential sales activity and is on pace to sell out within the next six months.

M&B Dental Associates, P.A., led by renowned aesthetic dentist and decorated U.S. Navy veteran Dr. Ivan Mendoza,occupies the 1,669-square-foot CU10. M&B and Sweat 440 are part of Merrick Manor’s Health and Beauty Corridor, which also includes Anaïs Nails & Spa, Body Details, Elegance Beauty Salon and Trésor.

“Our success in curating Merrick Manor’s ground-floor retail space with a dynamic mix of tenants, which comprise the building’s Health and Beauty Corridor, played a major role in this new investment sales transaction,” Chamizo said. “The buyer recognized that prime commercial real estate like this is at a premium in Coral Gables. We are proud to produce another tremendous outcome at Merrick Manor.”

The sale to Prisma comes as another signature Merrick Manor commercial tenant, high-end furniture retailer Sierra Muebles, prepares to open its first U.S. showroom at the building in the next few months. A Peru-based retailer that has exclusive representation of the Brazilian brand in Peru and Miami-Dade County leases Merrick Manor’s largest commercial space, which totals 4,448-square-foot.

“This transaction underscores the long-term belief in our building from the real estate community,” Torres said. “Merrick Manor has an unparalleled location and commercial space that perfectly complements the building’s 227 residences.”

ALTARA Properties Reveals Casa Azzura Luxury Townhomes In Coconut Grove

ALTARA Properties has revealed Casa Azzura Coconut Grove, a luxury tropical modern townhome development designed by renowned Venezuelan-architect Mario Bocaranda in Miami’s hot West Grove section of Coconut Grove. The new construction residences are available for purchase and are on track for completion in early 2022. Pricing is available upon request.

Each residence features 3 bedrooms, 3 full-bathrooms and two half-baths spread over 2,500 SF. The luxurious homes feature a large open modern floor plan with glass sliders emphasizing indoor-outdoor living. High ceilings offer plenty of space and comfort. Each unit features a gourmet kitchen with high-end finishes, top of the line-stainless appliances and quartz countertops. Upstairs offers three en-suite bedrooms including a lavish master suite with a large walk-through closet and luxurious master bath with freestanding soak-in tub. The lushly landscaped outdoors features a plunge pool, covered terrace with summer kitchen and cabana bath.

One of Miami’s most historic and beautiful neighborhoods, the lush bayside community of Coconut Grove is known for its tropical vibe full of banyan trees, palms and live oaks mingle along quiet residential streets, and peacocks roam wild. Hugging the shoreline of Biscayne Bay, Coconut Grove is an upscale, leafy neighborhood with relaxed sidewalk cafes and chic shops in and around the newly redeveloped CocoWalk mall.

Sales and marketing for Casa Azzura Coconut Grove is being represented by Demetri Demascus of ALTARA Properties. For more information please visit www.azzuramiami.com or email sales@altaraproperties.com.

For more information about Casa Azzura Coconut Grove, private showings or purchasing/ leasing information please fill out the form below:

All images and designs depicted herein are artist’s conceptual renderings, which are based upon preliminary development plans, and are subject to change without notice in the manner provided in the offering documents. All such materials are not to scale and are shown solely for illustrative purposes.

The sketches, renderings, graphic materials, plans, specifications, terms, conditions and statements contained in this article are proposed only, and the developer reserves the right to modify, revise or withdraw any or all of same in its sole discretion and without prior notice. All improvements, designs and construction are subject to first obtaining the appropriate federal, state and local permits and approvals for same. These drawings and depictions are conceptual only and are for the convenience of reference. They should not be relied upon as representations, express or implied, of the final detail of the residences. The Developer expressly reserves the right to make modifications, revisions, and changes it deems desirable in its sole and absolute discretion.

Okan Tower Unveils Loft Penthouse Collection As Development Nears Groundbreaking In Downtown Miami

Okan Tower, which is set to become one of the tallest towers in Downtown Miami, has unveiled its exclusive Loft Penthouse Collection. Rising 902’ in the air, the 70-story project’s highly-anticipated Loft Penthouse Collection consists of 14 impressive residences soaring above downtown Miami at the building’s peak. Ten spectacular two-story units are featured on the 67th floor with expansive three-bedroom and one-bedroom layouts, and four single-story penthouse units are offered on the 69th floor with unparalleled views and luxurious finishes.

Residences offer 22-foot floor-to-ceiling windows in the two-story lofts and 10-foot-plus windows in the single-story units providing panoramic bay and city views with an abundance of natural light. Upscale Italian cabinetry is featured in the sophisticated kitchens and bathrooms along with top-of-the-line Sub-Zero® and Wolf® appliances throughout.

Penthouse residences start at $2,000 per square foot with four different floorplans ranging from 1,070 to 3,100 square feet of interior space along with private balconies.

“We’re thrilled to introduce our premium Loft Penthouse Collection,” said international property magnate and developer of Okan Tower, Bekir Okan, Chairman of Okan Group. “This limited assemblage of our premier units was designed to appeal to those seeking the ultimate in elevated living in an urban walkable setting.”

Developed by Okan Group and exclusively marketed and sold by Fortune Development Sales, Okan Tower features a variety of unique amenities including a ground floor arrival entrance with dedicated 24-hour reception and concierge, a 70th floor rooftop pool and sky deck with private cabanas featuring sweeping views of downtown and Biscayne Bay, and an additional 12th floor lap pool with clubroom and indoor and outdoor lounges. Loft Penthouse Collection buyers will also have access to a state-of-the-art health and fitness center with a yoga studio, Peloton® bikes and interactive fitness MIRROR®, as well as a dedicated wellness spa with sauna, steam and treatment rooms. A fully-equipped children’s sensory and play room, cutting-edge technology theater, and wine cellar and owner’s lounge.

“The debut of these exceptional loft penthouses adds yet another dimension to the refined offerings at Okan Tower,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Throughout the first quarter of 2022, we’ve experienced remarkable sales momentum and we’re confident these new unit offerings will move very quickly.”

Uniting a diverse collection of mixed-use elements in one vertical destination, Okan Tower was designed by Behar Font & Partners, and is set to break ground this June with completion scheduled for 2026.

Located in the epicenter of Miami’s urban core at 555 North Miami Avenue, Okan Tower is situated on a prime downtown site at the crossroads of culture, entertainment, art, fine dining, Miami's waterfront and most celebrated cultural and entertainment landmarks. Okan Tower will be a monument of the future as Downtown Miami has been reinvigorated by the allure of an ultimate live-work-play destination.

The project will present 163 Sky Residences – inclusive of the Loft Penthouse Collection -- with exclusive owners-only amenities, 236 Short-Term Rental Residences powered by Hilton Hotels & Resorts, and a Hilton Miami Bayfront Hotel with endless amenity and entertainment areas, all accessible by separate elevators for Sky Residence owners and Short-Term Rental Residence owners and hotel guests.

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

Turnberry Development In Partnership With Carlos Rosso Launch One Park Tower By Turnberry at SoLé Mia

Turnberry Development in partnership with Carlos Rosso has announced the launch of ONE Park Tower by Turnberry at SoLé Mia, a luxury condominium reimagined for the next generation. Set within the multi-billion dollar, 184-acre master-planned community of SoLé Mia in the heart of North Miami, the 32-story tower will deliver 303 bespoke residences overlooking a seven-acre Crystal Lagoon™ and surrounded by pristine natural landscapes, with access to a private beach, amenities created to offer residents a sophisticated lifestyle, and ocean views.

ONE Park Tower by Turnberry has been thoughtfully designed to offer resort-style, attainable luxury living for families seeking a walkable and connected community to call home. Envisioned by award-winning architecture firm Arquitectonica with interior design by globally recognized Meyer Davis, acclaimed landscape architect Enzo Enea will curate gardens that enhance the natural attributes of the location and encourage a connection to nature.

Owners can walk to SoLé Mia’s community parks and trails, retail and upscale restaurants. The SoLé Mia masterplan includes amenities that anticipate residents’ needs and foster wellbeing, anchored by a 225,000 sq. ft, 10-acre world-class University of Miami UHealth Medical Center currently under construction.

"Turnberry has always been at the forefront of neighborhood creation, bringing our legacy of excellence to build communities that cater to families and cultivate a strong sense of place—this is our vision with SoLé Mia,” said Jackie Soffer, Chairman & CEO of Turnberry Associates. “ONE Park Tower by Turnberry is for those who seek a luxury lifestyle surrounded by a community of family, friends, restaurants, retail, endless outdoor activities, and state of the art medical service.”

The centerpiece of the SoLé Mia community, a crystal-clear swimmable lagoon the size of 21 Olympic-sized pools, will provide ONE Park Tower by Turnberry residents a dedicated lagoon-front beach with umbrellas and beach chairs. Property staff will offer exceptional, individualized service for which Turnberry is known, including a Beach Concierge to arrange stand-up paddle boards and kayaks for rent and dining from The Lagoon Café and adjacent restaurants. ONE Park Tower by Turnberry’s healthy lifestyle includes a private swimming pool, pickleball courts, and a state-of-the art wellness center which includes fitness, spa and massage facilities. Residents will also enjoy co-working facilities, a library, private event rooms, a climate-controlled wine room and dedicated children’s playroom. A gated entry, 24-hour security and secured garage parking with electric charging stations complete the offering.

“South Florida lacks locations developed specifically for growing families and young professionals, and we intend to deliver just that,” said Carlos Rosso, Founder & CEO of Rosso Development. “There is an overwhelming demand for condos surrounded by all the incredible amenities this site has to offer–with everything you need at your fingertips. Complete with an intentional integration with nature and an array of incredible amenities, ONE Park Tower by Turnberry will cater to an up-and-coming group of buyers who are looking for real luxury at attainable price points. This property excites us because of the opportunity it will provide to Miami families to continue to flourish in the city they love, with the lifestyle they are accustomed to.”

Consisting of spacious one-, two-, and three-bedroom units, plus a collection of penthouses, floorplans feature dens and large powder rooms – and are designed to fit a range of lifestyles, with connectivity to the outdoors and panoramic views of the Crystal Lagoon, Oleta River State Park, Biscayne Bay, the Atlantic Ocean, and the Miami city skyline. Spanning from 900 square feet to 2,100 square feet, residence interiors intentionally blend the natural beauty of the site with the vibrancy of the surrounding urban atmosphere. High ceilings and walls of glass open up to oversized private wrap-around terraces with seamless glass railings. All units will be completely finished with porcelain floors, oversized master bedrooms and walk-in closets (closet upgrades will be offered), and master baths featuring wet rooms with shower and soaking tub.

"We rarely have the opportunity to design a building with open water views as a touchpoint from every unit and amenity. Whether it be your arrival experience, in the lobby, the gardens, or the Sunset pool, your eyes are always in contact with the water,” said Will Meyer of Meyer Davis. “Our design for ONE Park Tower by Turnberry is inspired to accentuate the beauty of the natural surroundings while offering functional luxury buyers are seeking.”

Fortune International Realty is the exclusive sales and marketing broker for ONE Park Tower by Turnberry.

For more information about One Park Tower by Turnberry, private showings or purchasing/ leasing information please fill out the form below:

The Ritz-Carlton Residences, Estero Bay Announces $150 Million In Sales Within 14 Days

Coming to one of Southwest Florida’s last available stretches of waterfront within 500 acres of lush lands are The Ritz-Carlton Residences, Estero Bay, which has achieved $150 million in sales within 14 days since launching the first tower, comprised of 112 condominiums. The property, led by the visionary London Bay Development Group, will feature 224 residences among two 22 story towers. This news marks record interest in the legendary property within a short period. 

“The incredible demand and market positivity are a testament to the quality of this property and its exceptional design, coupled with thoughtful amenities and the prestigious Ritz-Carlton hospitality that will be woven throughout all experiences,” said Mark Wilson, President and CEO of London Bay Development Group. “As the most unique luxury condominium offering in Southwest Florida, we look forward to continuing this momentum.” 

Nestled between Sanibel Island and Naples, Florida, beside the natural beauty of the state’s first aquatic preserve of Estero Bay, the residences present a rare opportunity for the legendary brand in a sheltered oasis. Imagined by globally-acclaimed design firm Arquitectonica, the cascading façades of the buildings are inspired by the undulation of the waterfront setting, integrating harmoniously into the surrounding topography. Allowing for maximized vistas, each condominium frames the sky to capture natural light, from sunrise to sunset. 

Priced from the upper $2 millions, residences range from 2,628 to 3,885 square feet, and include two, three- and four-bedrooms, with a den. Dedicated private elevator entry, unobstructed sunset views of the bay and spacious balconies, with some spanning up to 2,200 square feet enhance enjoyment of daily life. Storage will be abundant, with very generous bedroom closets and a personal private storage unit located on the resident’s floor. Homeowners will have a choice of three finish packages assembled by Meyer Davis, the award-winning New York design studio also behind the property’s common area interiors.  

Legendary Ritz-Carlton service and personal connections with residents will be apparent in all facets of ownership, whether seeking a private training session or spa treatment. A rich program of amenities speaks to all pastimes and passions, with 36,000 square feet of indoor offerings. This includes a Wellness Center with garden views offering fitness, a yoga and Pilates studio, a private training section, and locker rooms with steam and sauna. A centrally-located, 8,000-square-foot space will present a Sunset Lounge, private dining room, Sports/News Café, whiskey and wine room, card room, and demonstration and catering kitchen. 

The Ritz-Carlton Residences, Estero Bay’s outdoor oasis stimulates wellness, surrounded by enchanting vegetation by landscape architect EDSA. Homeowners can enjoy three pools, floating-like pavilions at an expansive lagoon water feature, and cabanas that will be available for purchase. Bocce courts, multiple fire pits and barbeque stations also promote group gatherings. 

Living in rare harmony with it all, neighborhood trails lead to beautiful destinations to explore nearby activities. Part of the new master-planned coastal village underway, residents will be able to walk to the Saltleaf Marina and tee off at the Saltleaf Golf Preserve, a reimagined championship golf course, also equipped with a nine-hole short course. Venture into the waters of Estero Bay estuary with a kayak, take a short drive to Naples for luxury shopping or spend time in the nearby Bonita Springs. Getting to The Ritz-Carlton Residences, Estero Bay is easy, only 20 minutes from Southwest Florida International Airport.  

For more information about The Ritz-Carlton Residences, Estero Bay, private showings or purchasing/ leasing information please fill out the form below:

West Palm Beach Condo Development Alba Palm Beach Locks Down $82 Million Construction Loan

Private real estate lender Trez Capital funded an $82 million loan to build Alba Palm Beach, a luxurious waterfront condominium project that will soon rise in West Palm Beach, Florida. The new development is located directly on the west bank of the Intracoastal Waterway in the emerging Northwood neighborhood. Alba will rise 22-stories and offers 55 luxury residences and four townhomes. Since launching sales in February 2022, more than 30% of the project has been reserved. Prices start at $2.5 million. With the loan in place, an official groundbreaking is expected this fall with a project delivery in 2025.

Trez Capital Managing Director Ben Jacobson originated the loan on behalf of the lead developer Kenneth Baboun. Jacobson is based in Trez Capital’s Palm Beach, Florida office led by Executive Managing Director, Eastern U.S. Brett Forman. BGI Capital structured the loan.

“Alba Palm Beach fills a glaring need for high-end residential product in a rapidly growing area of West Palm Beach,” said Jacobson. “We are excited to complete our first transaction with a sophisticated developer that will bring luxurious waterfront living to the city’s Northwood neighborhood.”

“We are so pleased to announce the securing of financing for Alba Palm Beach, especially with the great market response and sales success we have seen in such a short time since launching sales,” Baboun said.

“Working with the team from Trez Capital was a transparent and seamless experience and we are thrilled to have accomplished this milestone for Alba Palm Beach,” said Robert Barthelmess, Managing Partner of BGI Capital.

The spacious two-, three-, and four- bedroom residences range in size from 1,745 to 4,500-plus square feet. Each has oversized glass-framed terraces with summer kitchens and panoramic views, floor-to-ceiling hurricane impact glass windows, upscale appliances and designer fixtures.

Amenities include a private dock with boat slips for residents only, two pools, dedicated grill and lounge areas, state-of-the-art fitness studio, private elevators, virtual conference spaces, theater and multi-sport simulator rooms.

Alba Palm Beach is located at 4714 North Flagler Dr., just minutes away from world-class beaches, the famed Worth Avenue shopping district, upscale dining options and cultural activities.

“West Palm Beach has been a focal point of the substantial corporate migration to South Florida over the past few years,” said Forman. “That is creating intense demand for luxury residences in the city. Alba Palm Beach is poised to generate significant activity from both new-to-market and local buyers.”

For more information about Alba Palm Beach, private showings or purchasing/ leasing information please fill out the form below:

Florida East Coast Realty Sells Brickell Waterfront Development Site For Record $363 Million In Mega-Deal

Florida East Coast Realty has sold a 2.5 acre prime waterfront development site in Miami’s Brickell Financial District in a mega-deal for a record $363 million. The transaction breaks the previous record set when the former 14-acre Miami Herald site in Downtown Miami sold for $236 million to Genting Group. The buyer, an entity managed by the Chicago-based Randall Davis, paid roughly $145 million per acre, $3,340 PSF dirt value, for the site which is located at 1201 Brickell Bay Drive. Florida East Coast Realty, which is led by Tibor Hollo and family, acquired the site in 2000 for $15.5 million and revealed plans for a 1,049-foot, 660 unit supertall tower designed by Pritzker Prize-winning architect Norman Foster of Foster + Partners.

Fortune International Group And Blue Road Launch Nexo Residences, North Miami Beach Condo Allowing Short Term Rentals

Fortune International Group, one of South Florida’s preeminent residential real estate development, sales and marketing leaders for nearly 40 years, in partnership with Blue Road, a Florida-based integrated developer of hospitality, residential, commercial, and mixed-use projects, has announced the sales launch for Nexo Residences. The newest condominium development in North Miami Beach introduces short-term rental capability with full flexibility and central connectivity.

The property, featuring 254 residences, is one of the first condo projects with short-term rental capability in the rapidly growing city of North Miami Beach, adding to the area’s economic growth currently underway. Located at 13899 Biscayne Boulevard, it presents move-in-ready residences with full home-sharing capabilities without restrictions, coupled with resort-style amenities.

Nexo Residences’ units will be delivered turnkey and are priced from the $400,000s, studios to four-bedroom townhomes range from about 525 to 2,190 interior square feet. Each homeowner has the choice to rent his/her residence for short-, seasonal or long-term durations without listing limitations, making it a coveted property type for investors, while enjoying the option to utilize it at their own discretion or for personal leisure. Sales and marketing are exclusively overseen by Fortune Development Sales.

“Nexo Residences will serve as the premier short-term rental offering in North Miami Beach, an area that has been underserved in hotel and rental product; most projects of this kind concentrate in Downtown Miami and Brickell,” said Edgardo Defortuna, president and CEO of Fortune International Group. “This booming submarket continues to draw residents and visitors for its nearby office parks, universities, shops, and dining. We envisioned the project as a complement to its surroundings, while activating the property with thoughtful features and technology that speak to the future of real estate.”

“Understanding the consumer demand to be at the nexus of everything, we chose a location that allows residents to take advantage of all the experiential offerings in the neighborhood, with the added benefit and comfort of hotel amenities and services,” added Jorge Savloff, CEO of Blue Road.

Each turnkey residence is fully finished with floor-to-ceiling windows, porcelain flooring, built-in bedroom closets, dedicated lockable owners’ closets, and expansive balconies with glass railing. European-style kitchens are outfitted with quartz countertops and matte black fixtures for a modern look.

Enhanced digital features, such as smart key access, a self-service package system, and Wi-Fi throughout the common areas, provide ease for owners and guests. Additional tech-driven management systems to further elevate the transient experience will also be introduced in the future.

Blending the necessities of remote work life with inspiration from South Florida as a year-round vacation destination, Nexo Residences’ suite of amenities includes a two-story arrival lobby and lounge, which will be an impressive visual experience upon entry to the building. A two-story tech hub with a café, coworking spaces, and a business center make work a breeze, while entertainment offerings include an outdoor children’s playground, multi-purpose clubroom and private event area.

Health enthusiasts can relish the indoor/outdoor fitness center with a yoga studio and virtual trainer. To enjoy Miami’s sunshine, visit the luxury pool deck complete with a resort-inspired pool and two spa pools with loungers, or meet friends in the summer kitchen, followed by stargazing on the rooftop observatory deck. Additionally, residents can rest assured that their four-legged friends are welcome in the pet-friendly building.

The project is designed by Frankel Benayoun Architects Inc, with consultation from internationally-renowned architect Carlos Ott. Its common areas, residence interiors, and landscaping are curated by Urban Robot, the local, full-service design collective behind some of the city’s leading hotels and retail concepts, including W Hotel South Beach, the Gucci Flagship in Miami’s Design District, and Oasis Wynwood.

Nexo Residences is in proximity to a plethora of business and leisure offerings in Miami, Bal Harbour, Aventura, North Bay Village, Sunny Isles, Hollywood Beach, and beyond. The property is ideally set along the main thoroughfare of Biscayne Boulevard, minutes from the Intracoastal, and is nearly equidistant to both Miami International Airport and Fort Lauderdale-Hollywood International Airport. Nexo Residences is also nearby Bal Harbour Shops and Aventura Mall, which recently underwent a multi-million-dollar expansion, and popular outdoor recreational areas and green spaces, like Oleta River State Park and Haulover Park.

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

B&B Italia Is Distilling The best of Italian Living in Miami’s Downtown

Nobody does luxury quite like Italy. From unmatched gastronomy, to revered art and design, the Italian peninsula offers a sense of style unlike anywhere else in the world. 

This focus on form and beauty has long defined Italian design, whether it be in automobiles, fashion, interior design or home furnishings. Italian design always stands out, with countless attempts to emulate the Mediterranean region’s understated, yet exquisitely refined aesthetic. 

Based in Novedarte, Italy, B&B Italia is not content retreading previously explored ideas, however. Working with visionaries, like Artistic Director, Piero Lissoni, the world-renowned design house is working to reimagine the quintessential Italian ‘look’ for a new generation of connoisseurs. 

The approach has proven to be highly successful, with robust growth and an impressive stable of A-list collaborators, including iconic brands like Rolex, Piaget, Rolls Royce, Fendi, Apple and many more. 

B&B Italia is now venturing into the luxury real estate space, partnering with development powerhouses Related Group and Alta Developers, to deliver their first-ever residential property. 

Casa Bella Residences by B&B Italia is an exclusive luxury condominium located in the heart of Miami’s downtown neighborhood, just steps from the sparkling waters of Biscayne Bay. With architecture by Arquitectonica and interiors hand-curated by Piero Lissoni and the B&B Italia team, every aspect of the 55-story tower is envisioned as an oasis, offering a refined Miami aesthetic rooted in contemporary Italian design. 

We recently sat down with Francesco Farina, Chief Executive Officer for B&B Italia’s US operations to learn more about Casa Bella Residences by B&B Italia.

Why is B&B Italia venturing into branded real estate? What kind of draw does this hold for you and your team? 

Miami plays an integral role within the arts and design community. Our company believes that it is important, being a leading brand in design, to have a place to tell our story, and Casa Bella Residences by B&B Italia allows the brand to bring the exquisite experience of Italian design to life in Miami. 

Casa Bella Residences by B&B Italia is supposed to distill the very best of Italian design. What does that mean to you? 

B&B Italia continues to stand out for both its representation of contemporary culture as well as its research and innovation. There is a fruitful partnership that we have between the company’s Research and Development Center, a workshop for excellent ideas, and the best international design professionals outstanding talent, which has resulted in the creation of iconic products that have defined our brand.

This is a unique project for B&B Italia. Your team is handling furnishings while Piero Lissoni handles interior designs. Does this type of approach give your team greater creative freedom? 

This sort of approach gives us the ability to really work with Piero in a unique way outside of his role as Artistic Director for B&B Italia. Piero has played a key role across many other Related projects, which gives us a leg up of sorts. He helps us anticipate challenges unique to the development world and helps us deliver an even higher quality product. 

We cannot wait to show the world what we’ve been working on! 

B&B Italia is known around the world for its home furnishings. How are you translating that brand ethos into a full residential experience?

B&B Italia’s modern, refined aesthetic makes us feel at home in this beautiful residential tower. Distilling the best of life on the Italian peninsula, the 55-story Casa Bella will instantly transport residents away from the bustling city center. The tower is set with wide open views of Miami that are sundrenched, and encompasses the art of Italian living.  All residences feature private elevator access, soaring ceilings and panoramic water views, as well as an exquisite selection of European-fixtures and finishes. Outdoors, the pool deck is adorned with lush Italian-inspired gardens to create an oasis within Downtown Miami. Five-star service completes the residential experience including a personal concierge available to assist residents on- or offsite.

Units at Casa Bella by B&B range from $650,000 to $3.7 million for non-penthouse floorplans. For more information or to arrange a tour of the sales gallery, please visit CasaBellaResidences.com or call 305-290-1008. 

Eyzenberg & Co. Structures $73.35 Million Construction Loan For Downtown St. Petersburg Condo Development

Eyzenberg & Company has arranged a stretch-senior construction loan to finance the development of Reflections Condominiums, a 17-story condominium tower on Mirror Lake in St. Petersburg, Florida. The New York-headquartered commercial real estate investment banking firm was retained in 2021 as the exclusive financial advisor for the development of the 326,468 square foot building.

Situated at the Edge District of St Petersburg, Reflections is surrounded by new restaurants, boutique shopping, as well as award winning galleries and museums. With nationwide interest of homebuyers flowing into the greater Tampa and St. Petersburg markets of Florida, the developer was well positioned to deliver a product in extremely high demand. In the months leading up to loan closing the developer pre-sold over 55% of the building’s available units.

“Our firm and team members have a long history of representing developers in the South Florida community, one of the many reasons we established a local office in Miami in 2019” Said David Eyzenberg, President of Eyzenberg & Company.

The tower features open floor plan options ranging from 1,168 to nearly 2,285 square feet of interior living space. Reflections’ residents are provided private access to the tower’s 12,000 square foot rooftop featuring a glass façade, air-conditioned fitness center and social club, a tropical pool and spa terrace, outdoor kitchen and wet bar, and unparalleled panoramic views of Mirror Lake, Downtown St. Petersburg, and Tampa Bay.

The Eyzenberg deal team included Robert Ginsberg, Aaron Stelzer, Alex Anderson and Elena Burgos. After exploring the equity and structured capital markets to fill the existing gap in the capital stack, Eyzenberg arranged a construction loan from a debt fund that provided stretch-senior construction financing that allowed both existing sales deposits as well as future sales deposits to be treated as a source of capital that filled the entire capital stack. “This particular transaction underscores the need for sophisticated structuring capabilities vs introduction services in complicated scenarios” said Robert Ginsberg, managing director of Eyzenberg & Company

With economic headwinds facing the construction industry from inflation, the lingering effects of Covid-19, and geo-political pressures in Europe, Eyzenberg was able to work with both the lender and borrower to bridge cost overruns and a steepening yield curve and shepherd the transaction to a successful close.

The project is anticipated to reach completion and deliver the final units in April of 2024.