MG Developer Celebrates Grand Opening Of Gables Village Showroom in Coral Gables

MG Developer has officially opened the showroom for their newest and most exclusive project, “Gables Village,” a 48-residence collection inspired by the province of Seville, Spain. The intimate ribbon cutting ceremony was attended by Mayor Vince Lago, and several City commissioners, LESTE, VYV, Linkvest Capital, ONE Capital, investors for the development, as well as ONE Sotheby’s, the exclusive broker, for Gables Village. The new sales center is located at 2990 Ponce de Leon Boulevard in Coral Gables.

MG Developer created a sophisticated Seville-themed ambiance for the event and featured Spanish traditions including a cigar-maker, and entertainment while serving Cava and fine Spanish wines, decadent delicacies, and desserts, for all the notable guests to enjoy the official opening celebrations of the new Gables Village gallery, which is located on Ponce de Leon Boulevard. MG also featured an impressive documentary-style film showcasing their trajectory as developers in the City Beautiful with never-before-seen aerial shots of Coral Gables.

The event, culminated with remarks made by Coral Gables’ Mayor Vince Lago; Alirio Torrealba, CEO of MG Developer; Gables Village architect, Maria de la Guardia of De La Guardia Victoria Architects & Urbanists; and Daniel de la Vega, President of One Sotheby’s International. Mark Trowbridge, President of the Coral Gables Chamber of Commerce was the Emcee for the event.

“We are thrilled to be here with all of you today in this stunning new gallery, getting a glimpse of our future. We are very proud to be a part of bringing Gables Village to life in our City,” said, City of Coral Gables, Mayor Vince Lago. “We have never seen a project of this magnitude, receive such praise since it was first introduced to the City. MG Developer understands the importance of building residences that fall in line with our City’s rich history, tradition and aesthetic values, which our City is known for. We are all eager to see this vibrant community come to fruition.”

The $50 million development will be completed by 2024 and will pay homage to George Merrick’s legacy, and original vision, for this parcel of the City Beautiful in a classic, yet modern way.

“We are so excited about opening our first showroom as we get closer to breaking ground on Gables Village,” said Alirio Torrealba, CEO, MG Developer. “I want to give a special thanks to our partners that entrusted in us. These partnerships solidify our vision for building luxurious residences in one of the most sought cities in the world. We are excited about Gables Village, the City’s future and growing our partnerships,”

“This gallery provides buyers with a preview and chance to see, touch and feel all of the modern touchpoints and luxurious finishes they can soon find in their home. It will truly inspire people to want to be in Coral Gables and be part of this new luxurious enclave.”

The project itself is located at 535 Santander Avenue and will include townhomes, duplexes, lofts, flats and an archway with raised residences above ground level, creating a distinct welcoming feeling into the Gables Village enclave. It will be set throughout 17 lots, replacing the existing rental apartments bordered by Malaga Avenue, Santander Avenue, Segovia Street and Hernando Street.

Inspired by Merrick’s seven villages, Gables Village will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists, and bordered by gardens inspired by the alcoves in the Plaza de España. Units will vary in style and sizes including, one-bedroom flats to four- bedroom townhomes that range size, from 1,750 sq. ft. to 3,100 sq. ft. The village will also boast recreational amenities, including a multipurpose room, a pool, and a Wellness Center for residents to enjoy. Construction for the project starts in the Fall of 2022 and will be completed in 2024.

“We take a lot of pride in building in the City Beautiful and the communities we build are for the people that enjoy the sophisticated lifestyle Coral Gables has to offer. We develop luxury residences that inspire, and this new gallery does just that. As soon as you walk in, you feel in awe and right at home at the same time,” added Torrealba.

MG Developer, led by Alirio Torrealba, is the City’s most active residential developer having completed its newest project, Althea Row, which nearly sold-out in less than 90 days. MG will soon wrap-up its Biltmore Square community, as it completes Biltmore Row, the 10 exclusive townhomes featuring a total of 5,561 square feet each, with elaborate coralina-stoned entryways that trace back to the heritage of classical design elements found in Spanish colonial architecture.

Two Combined Single-Family-Home Lots at The Links Estates at Fisher Island Sell For $13 Million

Two combined single-family-home development lots at The Links Estates at Fisher Island spanning 31,619 SF have sold for $13 million, $411 PSF of dirt. Sandra Fiorenza with ONE Sotheby's International Realty and her husband Randall, the CEO and Owner of Pan Am Flight Academy, purchased 1003 and 1004 Links Estate Drive from the developer Fisher Island Holdings, LLC, led by Heinrich von Hanau. 1003 spans 15,949 SF and 1004 spans 15,670 SF, offering a combined 31,619 SF.

The pair are some of the last remaining development parcels on the ultra-exclusive island. Since launching in June, 4 of the 12 lots have been sold. The Fiorenza’s currently reside on Fisher Island and have plans to build a 20,000-square foot spec home with famed architect Raffael Portundo, developer Heinrich von Hanau and luxury builder ASR Construction.

The Links Estates at Fisher Island is being developed by Fisher Island Holdings, LLC, Led by developer Heinrich von Hanau, who also developed the Palazzo Della Luna and Palazzo Del Sol condominium buildings which recently achieved a $1 billion sellout earlier this spring.

Fisher Island is an ultra-exclusive private island located just off of Miami Beach which is also the wealthiest zip code in the United States. Fisher Island is a secure island oasis, accessible only by private yacht or 7-and-a-half-minute auto-ferry from Miami Beach. The enclave spans 216 private acres of tropical resort-style living, located within minutes from the cultural enticements of Miami. The premier Fisher Island Club also provides access to the oceanfront Beach Club, Vanderbilt Mansion, Spa Internazionale, a par-35 championship nine-hole golf course, state-of-the-art Racquet Club, and two private deep-water marinas, among other amenities.

Image via David Hernandez/ONE Sotheby’s International Realty | Renderings via The Links Estates

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

James Beard Award-Winning Restaurant Group Hai Hospitality To Open 'Uchiko' to Eighteen Sunset In Sunset Harbour

James Beard Award-winning group Hai Hospitality, the group behind Wynwood hotspot Uchi, will bring its acclaimed Uchiko restaurant concept to Miami Beach’s popular Sunset Harbour neighbored. Uchiko will be located in Eighteen Sunset, a mixed-use project being developed by Deco Capital. Hai Hospitality signed a lease for 6,000 square feet of street-level restaurant space and is planning to open in 2024.

Uchiko, the Japanese concept that launched in Austin, Texas and helped fuel the city’s rise as a dining destination, will be located on the ground floor of the project, along Purdy Avenue, within the walkable neighborhood of Sunset Harbour known as one of South Florida’s most beloved lifestyle destinations. Slated to open in 2024, the restaurant will feature 180 indoor seats, including approximately 35 outdoor patio seats. Uchiko, recently recognized by Open Table as one of the top 100 restaurants in the US and lauded by GQ Magazine as one of the best new restaurants in America when it first opened, will open its third location in Miami Beach, following locations in Austin and Houston.

The menu at Uchiko constantly evolves. Uchiko Miami guests can expect signature bold flavors with hints of smoke and char that differentiate Uchiko from its sibling Uchi. Uchiko balances richness and delicacy with its interpretation of raw fish at the sushi bar alongside wood-fired items and Yakitori-grilled options. Uchiko Miami will also offer a full bar with hard-to-find Japanese whiskeys and a well-rounded and inventive cocktail menu.

“We quickly fell in love with the energy of Miami when we opened our first Florida Uchi location in 2021,” said Hai Hospitality CEO Tony Montero. “When we found the Eighteen Sunset development, we knew it would be the perfect location to continue to grow in Miami with Uchiko, and we’re looking forward to adding to both the energy of the city and Sunset Harbour with Uchiko Miami.”

“Uchiko is one of the country’s most innovative restaurant concepts, and Miami Beach is among the world’s most vibrant dining destinations. Uchiko at Eighteen Sunset is destined to become a favorite spot for the growing number of residents and visitors setting their sights on South Florida,” said Deco Capital Group Founder Bradley Colmer.

Eighteen Sunset is Deco Capital’s latest mixed-use development, rising five stories directly across from Biscayne Bay. The ground floor is home to 17,000 square feet of restaurant and retail space, a central cobblestone breezeway and cantilevered, covered sidewalk connecting to Maurice Gibb Park. The building has parking on the second level, and Class A+ office totaling 40,000 square feet on the third and fourth, topped by an exclusive penthouse encompassing nearly 30,000 square feet of interior and exterior space, including a spectacular rooftop and pool deck. Construction is currently underway, with delivery slated for late 2023.

Images via Eighteen Sunset

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

Take A First Look At 'MetaReal' Mansion To Be Sold Via NFT As Real Home And Digital Twin In Metaverse

Meta Residence has revealed a first look of the world’s first-ever "MetaReal" Mansion, a real world new construction home being built in Miami with a digital twin in the Metaverse. ONE Sotheby’s International Realty and Voxel Architects have aligned with general contractor and NFT collector Gabe Sierra to build and sell Meta Residence, the first real-world mansion being constructed in Miami with a virtual counterpart coming to life inside of The Sandbox metaverse. The purchaser of the NFT asset will also acquire ownership rights of the physical home.

Located on a 1+ acre within one of Miami’s most sought-after neighborhoods, the 11,000 square-foot home will feature 7 bedrooms and 9 bathrooms. The virtual version will be a mirror image of the property.

Kiki Rutten and Michael Martinez with ONE Sotheby’s International Realty are the exclusive sales agents for the project and plan to execute the transaction on the Ethereum blockchain. The metaverse mansion is expected to list for auction in early 2023 with a yet to be disclosed reserve price.

Interested bidders can register to be approved for the pre mint list here: https://www.premint.xyz/meta-residence-one/

Renderings via Meta Residence

Palm Beach Gardens Single Family Home Development 'La Terre at Avenir' Now 50% Sold-Out

La Terre at Avenir, a gated community of 92 luxury, single-family homes in Palm Beach Gardens, is now 50% sold-out. La Terre at Avenir is being developed by K. Hovnanian Homes at 12300 Waterstone Circle, Palm Beach Gardens, FL. La Terre at Avenir offers single-story and two-story new construction homes with spacious floor plans and elegant interiors including Restoration Hardware vanities, freestanding tubs, under cabinet lighting in the kitchen, smart appliances and Design-Craft frameless cabinets. Homes at La Terre at Avenir range from 2,528 to 4,124 square feet and are priced from $959,995 to $1,299,995. K. Hovnanian is a national family-run luxury homebuilder founded in 1959.

The 4,752-acre Avenir is the largest and most innovative developments to come to Palm Beach County. The sustainable community, located in Palm Beach Gardens, is being developed by K. Hovnanian Homes, Toll Brothers, Divosta, Kenco Communities and Akel Homes. Avenir will feature 3,900 new homes and resort-style amenities include a clubhouse, working farm, dedicated golf cart paths, spacious dog parks, and over 300 acres of lakes and waterways. More than 2,400 acres will be transformed into a dedicated nature preserve featuring extensive walking trails. Avenir is also approved for 400,000 SF of retail space and 2,000,000 SF of new offices, shops and restaurants.

Ken Griffin Expands Brickell Holdings As Citadel Leases 95,000 SF At 830 Brickell

The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has continued to expand his Brickell portfolio while Citadel signed a lease for 95,000 SF at OKO Group’s 830 Brickell office tower. Griffin announced earlier this year that both Citadel and Citadel securities will move to Miami from Chicago. Through an entity Griffin acquired acquired the adjacent 1250 Brickell Bay Drive and 1260 Brickell Bay Drive for $20 million, the lots total roughly 6,655 SF. The lots are adjacent to 1221 Brickell Avenue, which an entity tied to Citadel reportedly acquired in June 2022 for $286.5 million.

The assemblage of properties spanning from 1221 Brickell Avenue to 1250-1260 Brickell Bay Drive is across the street from 1201 Brickell Bay Drive, which Citadel was revealed as the buyer of after Tibor Hollo’s Florida East Coast Realty sold the 2.5 acre supertall development lot in a $363 million mega-deal also in April 2022. The price equated to $145 million per acre, $3,340 PSF dirt value. Citadel is planning to develop the property with the Chicago-based developer Sterling Bay.

The lease signing at 830 Brickell comes following the news of developers OKO Group and Cain International buying WeWork out of their 146,000 square foot lease covering 10-floors. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF, representing a 42% rise year-over-year. Other top-tier office users who have signed leases at 830 Brickell include Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

PMG and Greybrook Celebrate Revealing Of The Elser Hotel & Residences With Sunset Soirée

On Wednesday, August 3rd, PMG and Greybrook hosted an unveiling event to celebrate the launch of The Elser Hotel & Residences, a 49-story new construction luxury condominium tower. Set in the heart of Downtown Miami with unobstructed views of Biscayne Bay, guests enjoyed a live band, experiential performances and endless champagne. Remarks were given by Ryan Shear, Managing Partner of PMG, and the PMG Residential sales team, Alejandra Castillo, Christian Tupper, Daiana Quiceno, Aura Aragon and Karine Carvalho.

Located at 398 NE 5th St., The Elser Hotel & Residences will deliver the only new, fully furnished and move-in-ready residences to Downtown Miami this summer. The property will allow owners to enter a short-term rental program with daily rental options through The Elser Hotel & Residences Owners Program, managed by industry-leading management company Highgate.

National investment and development firm PMG (Property Markets Group) and Toronto-based real estate private equity firm Greybrook developed The Elser Hotel & Residences, a 49-story new construction luxury flexible rental condominium which offers 646 fully furnished residences, over 19,000 square feet of curated amenities and 5,000 square feet of prime retail space. PMG Residential is the exclusive sales team for the property, with residences priced from the $600Ks or the equivalent cryptocurrency exchange rate.

Baccarat Residences Miami, A Design Showcase Where "Life Forever Sparkles"

Miami has long been a mecca for those interested in aesthetics and beauty. From stunning cars to avant-garde fashion, to awe-inspiring natural features, the Magic City is a feast for the eyes.  And while architects, designers, and developers have always played an important role in making Miami one of the world’s most photogenic cities, a new generation of high-design real estate projects is taking things to new heights.  

Once known exclusively for its Art Deco aesthetic, Miami is now home to a diverse range of architectural styles, from ultra-futuristic towers to more timeless designs and everything in between. These new projects push the limits of design to deliver one-of-a-kind structures that are not satisfied with simply being beautiful. New high-design projects, like Related Group’s Baccarat Residences Miami, are elevating city living to an art form.   

“Working with designers and architects to create projects that honor the city while pushing its design language forward is something Related loves to do,” said Sonia Figueroa, Senior Vice President at Related Group. “For a while, bringing on a starchitect was enough to elevate a project; however, that is no longer the case. The designs of our new projects are by far the most complex we’ve ever done, bringing together the world’s top designers, luxury brands and established neighborhood aesthetics into a single cohesive vision.”  

Related’s Baccarat Residences Miami exemplifies this trend to perfection. Envisioned by internationally recognized architecture firm Arquitectónica and branded under the world’s preeminent crystal company, this tower is at the forefront of Miami’s design revolution.  

Baccarat Residences Miami’s bold architectural identity is inspired by the revered crystal company’s 250-year legacy, with architects taking inspiration from the etchings of some of Baccarat’s most timeless pieces.  Soaring to 835 feet, the tower’s chiseled, glass façade creates an interplay of light that mirrors the glittering waters below and gives the sense of looking into one of Baccarat’s gorgeous crystals. 

“The legendary Baccarat name carries enormous weight in the luxury and arts space,” says Bernardo Fort-Brescia, founder at Arquitectónica. “As such, our team went to great lengths to ensure that the tower design honored the history and status of the Baccarat brand – this project will become a landmark at the entrance to Brickell Avenue.  We couldn’t be any prouder of where this collaboration has taken us.”   

This careful focus on elegance and sophistication continues through the building’s interiors where the world-renowned New York City-based designer Meyer Davis brings 18th century French design into the future by seamlessly integrating a lavish yet effortless aesthetic that’s become synonymous with Miami. This marriage of traditional French design and Miami modern resulted in interiors that are supremely elegant and luxurious, while exuding the light and playfulness of our tropical aesthetic.    

Throughout the lobby and common areas, ornate motifs, beautiful panel moldings, antique accent finishes, dramatic undulating curtain glass façade, handcrafted Baccarat chandeliers, and stunning decorative pieces come together to create sumptuous environments worthy of the legendary French brand.    The units are equally stunning, featuring open-concept living areas with floor-to-ceiling windows and breathtaking water views framed by sparking city lights. The gourmet kitchens are the homes’ centerpieces, with stone-clad islands, custom Italian cabinetry and top-of-the-line Wolf and Sub-Zero appliances all open to the generous great rooms. While all homes will be fully finished, owners will have the option to customize as they wish.  

The property isn’t all form over function.  Baccarat Residences Miami residents will enjoy five floors dedicated to amenities -- all expertly managed by SH Hotels & Resorts -- including an elevated resort deck, which will feature a heated saline swimming pool with cabanas, outdoor spa, a romantic orangerie, and a full-service café restaurant, all surrounded by a beautifully landscaped sun terrace, overlooking Biscayne Bay and Miami River.   

Other lifestyle offerings include a state-of-the-art chef’s kitchen and private dining room; a wine cellar and tasting room; a gourmet market; a hair salon and barber station; a hammam spa with women’s and men’s steam and sauna facilities; luxury treatment rooms and spa shop exclusively carrying prestige La Mer beauty products; a state-of-the-art fitness center with a cardio theater and dedicated spinning and yoga rooms; a pet spa, grooming and walking service; and private marina with residents’ yacht for water taxi service to Miami River restaurants and sunset cruises on Biscayne Bay.  As if this was not enough, the residents will also enjoy complimentary membership to the Beach Club at the 1 Hotel South Beach.  

This focus on aesthetics and design has proven to be a resounding success, with almost 80 percent of the tower sold since its official sales contract launch in December 2021.  

For more information about the property, please visit: www.BaccaratResidencesMiami.com.  

The article was produced in partnership with Related Group

PPG Development Acquires Bay Harbor Towers For $32 Million

PPG Development, led by Ari Pearl, have acquired Bay Harbor Towers, located at 10141 and 10143 East Bay Harbor Drive. The 1.03-acre property sold for $32 million, which equated to a price of $1,066,667 per existing unit. The transaction was overseen by Cary Cohen of Blanca Commercial Real Estate and Deme Mekras of MSP Group.

Prior to the marketing of the site, the Board of Directors at Bay Harbor Towers designated a committee and instructed them to explore the sale, which led to their interviewing and receiving proposals from several brokerage houses, including some of the world’s largest firms. After a highly competitive interview process, the committee elected to have Cary Cohen of Blanca Commercial Real Estate along with Deme Mekras, of MSP Group, represent the many owners of Bay Harbor Towers. The duo signed exclusive listings with 100% of the 30-unit owners and commenced a far-reaching marketing campaign.

“Bay Harbor is no longer Dade County’s hidden treasure. Our extensive marketing process elicited global interest from numerous top-tier developers, as we expected, given the truly unique nature of this opportunity,” said the listing team. The duo shared that “Coordinating a sale of an entire association is one of the most rewarding transactions. It brings life changing wealth to so many people as the existing units traded for over 300% of their market value on an individual basis.” This rare, waterfront Bay Harbor Islands development site was highly sought after due to its immediate views of Biscayne Bay, Bal Harbor, Sunny Isles and distant views of South Beach, Edgewater, and Downtown Miami.

The buyer, PPG Development, LLC, led by Founder and CEO, Ari Pearl, is a commercial and residential real estate developer focused on the South Florida market, which has a substantial pipeline of development projects already underway, such as 700 planned multifamily units in North Miami Beach and the ongoing redevelopment of the Diplomat in Hallandale. PPG also has recent experience in Bay Harbor market with their purchase of The Altair Hotel.

“Development sites with amazing bay views rarely come to market anywhere in Miami, much less on coveted Bay Harbor Islands. Ultimately, a significant bidding war ensued leading to a $32 million sales price,” they continued, “and we firmly believe this was a win-win for both buyer and sellers,” said list agents Cary Cohen and Deme Mekras.

Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo

The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.

The developer agreed to a $120 million bid for the oceanfront property located at 8777 Collins Ave. via one of their US entities, East Oceanside Development, LLC. in September 2021. Court-appointed trustee Michael Goldberg issued the deed for the site at 8777 Collins Avenue which spans ±1.88 acres or ±81,886 square feet. The proceeds from the sale will go toward the $96 million settlement for the Champlain Towers South unit owners who lost their home in the tragic collapse.

The Cavallli Surfside condo will be DAMAC Properties’ first project in the United States. Sajwani’s private equity firm Vision Investments purchased the Cavalli luxury fashion brand in 2019. DAMAC Properties launched a 70-story Cavalli Tower in Dubai in 2021.

Honorable Judge Michael A. Hanzman and the court appointed receiver Michael Goldberg tabbed Avison Young, led by Michael T. Fay, to market the property in late-August 2021. Avison Young’s Michael T. Fay and his team John K. Crotty, David Duckworth, Brian C. de la Fé, and Berkley K. Bloodworth oversaw the sale, pro bono.