Miami Worldcenter Delivers 80,000 SF 'Jewel Box' Retail Building In Downtown Miami

The developers of Miami Worldcenter have completed another 80,000 square feet of lifestyle-driven retail space. The stand-alone building, known as Block F-East, marks one of the final retail components of the 27-acre project to be delivered as active vertical development continues at the $4 billion mixed-use development in the heart of Downtown Miami. Featuring a modern design enclosed with floor-to-ceiling glass, Miami Worldcenter’s ‘Jewel Box’ is located at the confluence of the 7th Street Promenade and World Paseo open-air retail pedestrian streets, directly west of the development’s upcoming citizenM boutique hotel and north of the completed luxury apartment tower Bezel Miami.

With the completion of F-East, approximately 255,000 square feet of retail space has now been completed at Miami Worldcenter as tenants actively build out their spaces. Miami Worldcenter’s stellar lineup of recently opened and upcoming tenants includes Sephora (now open), lululemon, Savage x Fenty, Ray-Ban, Posman Books and Lucid Motors, as well as dining and entertainment concepts such as Bowlero, Sports & Social, Michelin-star-rated Chef Michael Beltran’s Brasserie Laurel (now open) and El Vecino eateries, and Chicago’s Maple & Ash and etta restaurants.

As one of the largest private urban real estate developments in Florida, Miami Worldcenter, which is currently coming alive in phases, will feature a diverse mix of residential, commercial and hospitality uses complemented by a total of 300,000 square feet of retail, restaurant, and entertainment space. The project is being developed by master developers Miami Worldcenter Associates, led by Principal Art Falcone and Managing Partner Nitin Motwani, in partnership with CIM Group.

“Curating the right mix of diverse retail, dining, and entertainment options is key to creating a vibrant destination that is attractive to Miami locals and visitors,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “Miami Worldcenter’s ‘Jewel Box’ was designed to become a marquee entertainment venue and we have delivered just that with exciting tenants opening soon such as Bowlero, Sports & Social, and more to come.”

“We believe Miami Worldcenter is poised to deliver a captivating infill mixed-use development that weaves together a host of new buildings and businesses with public plazas and gathering spaces in a pedestrian-scaled environment,” said Shaul Kuba, Co-Founder and Principal, CIM Group, which is leading retail leasing at Miami Worldcenter in conjunction with Miami-based The Comras Company.

Miami Worldcenter is now home to three completed residential towers – PARAMOUNT Miami Worldcenter, Caoba, and Bezel Miami. Development of a 351-room citizenM hotel is now complete and expected to open at Miami Worldcenter in early 2023. Additionally, construction is underway at phase one of the 52-story Miami World Towers, which will comprise 550 apartment units; at Legacy Hotel & Residences, a 50-story mixed-use tower with 310 branded residences atop a hotel and 50,000 square feet of medical office space; and at the second phase of Caoba, which will encompass an adjacent 40-story tower with 420 apartments.

Planned developments include 600 Miami Worldcenter, a 579-unit fully furnished condominium by Aria Development Group and Merrimac Ventures; The Crosby, a 450-unit turn-key condominium by Related Group and Merrimac Ventures; a mixed-use residential and commercial development by Abbhi Captial; a residential development by New York-based Naftali Group; and a three-tower mixed-use project by The Witkoff Group, which will include up to 2,000 residential units as well as 550,000 square feet of office space and another 50,000 square feet of retail.

Complementing Miami Worldcenter’s retail streets will be World Square, a 20,000-square-foot outdoor public plaza and park. Designed as a central gathering place, World Square will serve as the heartbeat of the development featuring an abundance of open space, shade trees, and oversized, pedestrian-friendly sidewalks lined with dining, entertainment, and retail concepts.

Miami Worldcenter’s $5 million public art initiative – curated by international art dealer Jeffrey Deitch and Miami-based curatorial collective PRIMARY – will transform the streets and buildings of the 27-acre ‘city within a city’ into a permanent outdoor art museum. Once complete, the program will feature a variety of contemporary and modern art works – in the form of large-scale murals, paintings, and sculptures – created by globally acclaimed artists including Nina Chanel Abney, Woody De Othello, Viktor El-Saieh, Nick Cave, Trenton Doyle Hancock, Hernan Bas, Serge Toussaint, Zadok Ben-David and Franz Ackermann.

Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Pérez Art Museum Miami and the Frost Museum of Science; FTX Arena; the Adrienne Arsht Center for the Performing Arts; and Miami Dade College’s Wolfson Campus. It is also adjacent to Brightline’s MiamiCentral station, which offers direct train service to Fort Lauderdale, West Palm Beach, and will soon reach Orlando, together with access to Tri-Rail, the Metromover, and the Metrorail – making Miami Worldcenter the largest and most connected transit-oriented development in Florida.

Sabal Development Acquires Miami Beach Spec Home Site Overlooking La Gorce Country Club Golf Course

The Miami-based Sabal Development has closed on a 12,000+ SF development site which overlooks the La Gorce Country Club golf course for $4.2 million. The property is located at 5440 La Gorce Drive in Miami Beach and will be developed into a Choeff Levy Fischman-designed tropical modern spec home. Florida Realty of Miami, Corp. represented the buyer, Pascal Nicolai, founder and CEO of Sabal Development and Sabal Luxury Builder. Jean Echemendia of Douglas Elliman represented the seller, Justin Yoshimura.

“We are very excited about this purchase and the incredible custom home that will be developed on the double lot,” said Nicolai. “The property has gorgeous, wide golf course views that will complement the luxury living experience that we are bringing to life.”

Sabal Development plans to build an over 6,000-square-foot single-family home with 5 bedrooms and 5 bathrooms on the double lot, which is located on the private La Gorce Golf Course. The spacious home will include three parking garages, an elevator, pool and hot tub, outside barbeque area, media lounge and a pond. The property will feature architecture by famed architect Ralph Choeff of Choeff Levy Fischman. Sabal Luxury Builder is expected to break ground on the home in April 2023, with an estimated completion in December 2024.

Take An Inside Look At The Lavish Beachfront Bentley Residences Miami Sales Gallery With Scale Model Unit

PROFILEmiami had the exclusive opportunity to tour the beachfront sales center of Bentley Residences Miami with iconic developer Gil Dezer, who has been one of the most influential developers responsible for the transformation of the Sunny Isles Beach skyline into one of the most sought after enclaves in the world for the rich and famous. Gil’s hands-on approach is evident from the moment you arrive at the sales gallery, where a stunning Bentley Speed Form sculpture welcomes you and his prized, newly-arrived, ultra-rare McLaren Speedtail sits outside for all to enjoy to let you know he is on-site. The sales center features the exclusive Bentley diamond-shaped glass pattern panels on the façade, which evokes the diamond motif seen in the detailing on Bentley’s cars and will be used on the tower which is shaped like a Bentley shift knob.

“We did the diamond glass on the exterior, we took all kinds of cues from the cars. If you have been in a Bentley, every touchpoint on the car, whether it’s the radio, shifter or keys, it has a Bentley knurling on it, which is something that you don’t see but you feel. When you grab the doorhandles at Bentley Residences you will notice the Bentley diamond pattern underneath,” explains Gil as he welcomed us into the model unit.

Built with luxury car owners in mind like Dezer himself, each residence will include an in-unit multi-car garage and a patented car ‘Dezervator’ alongside all the most desirable luxury amenities and world-class services. The tower features four ‘Dezervators,’ which are patented hydraulic elevators built to transport residents and their vehicles directly to a private garage their floor complete with EV charging points. The car is identified on arrival by an RFID sticker positioned in the vehicle and a special LED lighting system then guides the driver to one of the ‘Dezervators’ which takes them straight to their residence. The whole process is seamless, with no buttons to press and no need to leave the vehicle.

“Finishing The Porsche Design Tower and having such a huge success, but also being the first of its kind, we took the feedback from our buyers that there was only two-car parking in the unit but that they are all car people so there may be more than two drivers in a unit. A Bentley we did a four car garage. The ‘Dezervator’ will take the car up, drop it right in your unit, and you just walk out of your car and you’re done,” said Gil as he shows the expanded sky garages which will be featured at Bentley Residences Miami.

Designed by world-renowned architectural firm, Sieger Suarez Architects, the luxury residential tower is designed to appeal to Bentley’s and Dezer Development’s most discerning customers. Bentley Residences Miami is set to rise 61-stories, 749’ above the Atlantic Ocean. The tower will feature 216 exquisitely finished residential units, each embracing an exquisite balance of indoor/outdoor living and offering uninterrupted views of the ocean and waterways. Pricing starts at $5 million and every unit will encompass an individual balcony swimming pool, outdoor shower, unobstructed seascapes, and floor-to-ceiling glass windows seamlessly implemented throughout.

“When you wake-up in the morning you can make your coffee by wifi, and then walk outside to your balcony where there is a private swimming pool right off your master-bedroom.” Said Gil about of the indoor/ outdoor living experience.

Bentley Residences Miami’s 12,000 sqft. sales gallery complete with the 6,000 sqft. model unit is located at 18325 Collins Avenue in Sunny Isles Beach. Bentley Residences Miami can also be toured in virtual reality, with each of the communal spaces, and luxurious apartments, built in Unreal Engine - a gaming platform providing advanced real-time 3D creation, a tool used by game developers and adapted for use. Within the virtual tour, users can experience the building as the residents will, either traveling in on foot, or arriving by car.

Genting Group Seeking Over $1 Billion For One Of The Largest And Most Valuable Waterfront Development Sites In The U.S.

Genting Group is seeking over $1 billion for its Omni District waterfront land, a ±15.5-acre development opportunity dubbed BayCity Miami at 1431 N Bayshore Drive in Miami. With 800 linear feet of direct Biscayne Bay frontage and highly aggressive zoning in one of Miami’s most dynamic and connected neighborhoods, it is considered the most desirable development site offering in the city’s history and one of the largest waterfront land assemblages currently available in the U.S. Genting Group has tapped Avison Young’s Florida Capital Markets Group to exclusively market the property.

“This site is among the most valuable in the United States, let alone South Florida,” said Michael T. Fay, Principal and Managing Director of Avison Young’s Miami operations who leads the team managing the sale. “The rarity of this opportunity coupled with the potential to build a landmark office, retail, residential, hospitality, and entertainment destination will attract prospective buyers from all over the world.”

Spanning several lots, including the former Miami Herald headquarters site, the property is in the Metromover subzone of Miami-Dade’s mixed-use zoning of RTZ (Rapid Transit Zone). With South Florida’s most generous zoning designation, the site has unlimited buildable square footage, no setbacks, a height limited only by the FAA regulations (649 feet) and a potential density of over 8,000 units. The RTZ zoning provides developers an enormous, highly flexible building envelope and the opportunity to develop a singular waterfront development of incredible scale.

Along with Fay, Avison Young Principals John K. Crotty, CCIM; David Duckworth, and Vice President Brian C. de la Fé will spearhead the marketing and sale of property. Genting Group, one of the largest resort and entertainment and gaming corporations in the world, will remain invested in the Omni area, maintaining ownership of parcels spanning 10 acres west of Biscayne Boulevard.

“South Florida’s popularity only continues to grow, and we are incredibly optimistic about our opportunity to bring a unique development to the area,” said Robert DeSalvio, President, Genting Americas East. “With our focus now locked in on 10 acres of prime real estate, we look forward to accelerating the process of outlining a project, putting shovels in the ground and getting a project built that all South Floridians can be proud of.”

Over the past 2.5 years, Miami has become a Tier-1 American city, on par with New York City and Los Angeles. According to proptech platform AVANT by Avison Young, Orbital Insight, Miami is outperforming most top U.S. metropolitan cities, including New York, as far as daily visitors to the city’s downtown urban core. Additionally, high-income earners and some of the most successful financial services, technology and cryptocurrency firms continue to relocate to Miami from other major metros. Rents across commercial real estate asset classes in Miami are at all-time highs, and development sales continue to break records.

Location Ventures Breaks Ground on URBIN Miami Beach

Miami-based real estate developer Location Ventures has broken ground on URBIN Miami Beach. The milestone marks construction commencement for the first-to-market, mixed-use brand that unites design-forward residences for short- or long-term rental with co-working spaces, wellness amenities, social activations, and lifestyle-oriented retail, all in one central address.

On November 15, Location Ventures, development partners and city officials gathered at the project site, 1260 Washington Ave., for the official groundbreaking ceremony. Special guests included Miami Beach Mayor Dan Gelber, Washington Avenue Business Development Executive Director Troy Wright and Miami Beach Commissioner Alex Fernandez. Guests enjoyed breakfast hors d’oeuvres, freshly brewed coffee and sparkling wine, while learning about the future development.

URBIN Miami Beach is the first property to launch of the URBIN brand portfolio, with a second location in Coconut Grove and plans underway to further scale in key U.S. cities. With exclusive sales representation by ONE Sotheby’s International Realty, URBIN Miami Beach is comprised of 69 units, which are sold out and attracted a diverse buyer demographic, including Latin America and Europe. URBIN Coconut Grove is set to break ground in 2023, with 90% of its residential offerings currently sold.

The URBIN development is the latest addition to the renaissance now underway for Miami Beach’s Washington Avenue. Known for its prime location in the epicenter of lively culture, dining and entertainment and just blocks from the beach, efforts led by the local Business Improvement District, City of Miami Beach and private enterprises have established a healthy pipeline of new businesses and contemporary concepts that will transition the area into its next evolution.

“Following immense sales interest, we are excited to initiate the construction process for the first URBIN location at a ripe moment in Miami Beach’s history,” said Rishi Kapoor, CEO of Location Ventures. “This property will infuse living, working and wellness into a singular location, while contributing to the quickly-evolving, iconic Washington Avenue district. We selected this site because it represents our brand ethos to increase accessibility and mobility in urban cores.”

The turnkey residences at URBIN Miami Beach range from 275-square-foot studios to two- to four-bedrooms up to 1,334 square feet, offering city or partial ocean views. Shared spaces, including a common kitchen, dining, and living area, will foster community, collaboration, and networking. Unit owners will have exclusive access to a lease-back program that allows stay on property for up to 90 nights per year. While away, the residence is professional managed in-house and available for extended stay rentals.

A variety of resort-inspired services, such as valet parking, concierge, housekeeping, and room service will complement onsite amenities to create an environment to “live-work-well.” Residents and members of the adjacent URBIN coworking space will enjoy a rooftop with a bar lounge area and green spaces, as well as the wellness center with programming for mindfulness, movement, nourishment, and healing. Food and beverage offerings can be found at the ground-floor café and bar and gourmet market.

Catering to the increased demand for quality office space in Miami Beach, URBIN’s dedicated coworking component will bring an elevated level of service to the work experience. In addition to the physical space, coworking members will have access to necessary business support tools, including consulting, administrative and networking services.

URBIN Miami Beach is designed by Touzet Studio, led by Carlos Prio-Touzet and Jacqueline Gonzalez-Touzet. The building’s façade will complement the playful energy of Miami Beach, featuring geometric styles and colors found throughout the neighborhood, with a nod to its Art Deco heritage. Its common areas and amenity interiors are curated by Meyer Davis, the award-winning design studio from New York City. The property is two blocks from the beach, steps from Ocean Drive and Lincoln Road, and part of the world’s largest Art Deco district.

Largest Penthouse In The United States Sold At Waldorf Astoria Residences Miami

The crown-jewel penthouse at Waldorf Astoria Residences Miami, which will become the largest penthouse in the United States high-atop Miami’s first supertall tower, has sold for an undisclosed price. The five-story, 33,000+ square foot “Mansion in the Sky” will be the tallest residential unit south of Manhattan. The sale was spearheaded by PMG Residential agent Paul Lash, who represented both the developer and the buyer.

The transaction marks an auspicious first for the future of real estate in Downtown Miami. The undisclosed buyer sought out an exclusive residential property, and he worked closely with Lash and the development team to design what will constitute the crown jewel of both the buyer’s personal real estate portfolio and the Miami skyline.

When finished, this one-of-a-kind “Mansion in the Sky,” suspended 1,050 feet in the air, will occupy the top five floors of the tower and enjoy unprecedented views as far as the eye can see. With just under 34,000 square feet, the residence will boast 10 bedrooms, 11 and ½ baths, and ceiling heights as high as 25 feet. Its impressive repertoire of over-the-top amenities will include, but not limited to: a wall-street-style trading room, safe room, billiards entertainment area, private movie theater, screening room equipped with two 90-inch theater screens, 3 wine cellars, full-scale bar, wellness center furnished with state-of-the-art equipment, massage rooms, infrared sauna, and a 20-car garage to house the owner’s extensive car collection. The mega-penthouse also exclusively possesses the tower’s private roof deck. On the roof, one will find: a large pool, swim-up tiki bar, 3 cabanas, an outdoor gym, and a multi-purpose court built for racquetball, pickleball and basketball. As of today, other features are being finalized for the owner.

“This penthouse sale is an indicator of the strength and tenacity of the luxury real estate market in Miami, and just how special Waldorf Astoria is to buyers and brand enthusiasts,” said Ryan Shear, Managing Partner of PMG. “We are confident in the continued momentum at Waldorf Astoria Miami, and know the property will completely elevate the standard of luxury living as we know it.”

Waldorf Astoria Residences Miami officially broke ground on October 27th, 2022 with completion slated for 2026.

PMG, along with partners Greybrook, Mohari Hospitality, S2 Development and  global hospitality company Hilton, have set out to create a landmark beacon for the city of Miami, marking Waldorf Astoria’s first entry into the Miami market. The vision is to bring an architecturally stunning structure to Miami’s iconic Biscayne Boulevard with meticulously designed residences and unparalleled services for residents and future guests of the hotel to enjoy. As the first supertall tower in Florida and the tallest residential building south of New York, Waldorf Astoria Miami looks forward to anchoring a new era for this magic city.

Located at 300 Biscayne Boulevard, the architecturally awe-inspiring Waldorf Astoria Miami will feature nine spiraling, offset glass cubes designed to be evenly stacked and wrapped in what can be referred to as a “glass skin,” distinguishing the property’s architecture from anything else on the East Coast. The tower’s concept design is led by Sieger Suarez Architects, in collaboration with renowned architect Carlos Ott, who worked in tandem to create an iconic structure in Downtown Miami offering 360-degree views of Downtown Miami, Miami Beach and the Atlantic Ocean. The developers also partnered with award-winning interior design firm BAMO, which prides itself on creating captivating environments that flow, function and make people feel welcome, at ease and inspired to live and dream more fully. The property will consist of 360 private residences, in addition to guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center.

Luxury Rental Residences Clara Bay Harbor Gets City Approval For Second Building

Clara Homes, a vertically integrated real estate development firm led by James Curnin, has received city approval of its second building at Clara Bay Harbor, a three-building ultra-luxury rental community being developed on the exclusive Bay Harbor Islands. Clara Bay Harbor will deliver a collective 150 luxury rental residences and will be completed in three phases, beginning with construction of the first building located at 10281 West Bay Harbor Drive. Groundbreaking for phase one is projected for Q1 of 2023, with the second phase to follow in Q3.

“I believe Bay Harbour is a jewel box neighborhood and the perfect unique setting for a true luxury rental apartment building. This has not been done before in Miami Beach and I’m thrilled to be working together with the community on developing Clara Bay Harbour, as this will solidify bay harbor as the next luxury location in Miami.” Said James Curnin of Clara Homes.

Located at 1147-1163 100th Street, the new approved Phase 2 is a six-story building which will feature 45 expansive apartments as well as a dedicated suite of amenities and services. The site totals to about 145,000 gross square feet.

The first site, which is located at 10281 West Bay Harbor Drive, received approval in April of this year. The site is roughly .35 acres and will include 28 luxury rentals. The third site, located from 10200 East Bay Harbor Drive through 10290 East Bay Harbor Drive, is the largest of the deals, spanning 1.3 acres. It will offer 77 of the total 150 luxury apartment residences at Clara Bay Harbor. All three buildings are being developed concurrently and cohesively.

Clara Bay Harbor is Clara Homes’s first South Florida multifamily development, following the firm’s success developing, building and selling numerous Miami and Los Angeles luxury spec homes for above market rate prices. Clara Homes is a vertically integrated real estate firm led by James Curnin.

Pre-Leasing Launches For Cascade Luxury Rentals At Link At Douglas

The demand for upscale living near accessible transportation hubs in Miami is stronger than ever as connectivity and location are highly desired attributes. Cascade – the second multifamily tower to be delivered within the seven-acre Link at Douglas masterplan development – is redefining luxury living with this notion. Set adjacent to the Douglas Road Metrorail Station, The Underline linear park, and the city’s main thoroughfare of US-1, the transit-oriented property has officially commenced pre-leasing for its 421 modern apartment homes and will soon welcome residents.

Set at 3050 SW 37th Ave Miami, Cascade is developed as a joint venture between Miami-based real estate developers 13th Floor Investments and Adler Development, in partnership with global investment manager Barings. The 37-story tower is a community-focused centerpiece at the confluence of the city’s coveted neighborhoods – Coconut Grove and Coral Gables – and introduces an all-encompassing lifestyle that unites unmatched amenities, sophisticated living, and dynamic retail. This includes the highly anticipated Milam’s Market on the ground floor, which is set to open in late 2022.

Cascade caters to a variety of lifestyles, from family and young professionals to students and sophisticated dwellers. Residences are thoughtfully designed to work with the rhythm of each day, balancing a lifestyle of 24/7 connectivity with time to unplug, unwind and indulge.

Apartment homes start from $2,600 per month and range from one- to three-bedroom floorplans, encompassing 582 to 1,576 square feet. They are complete with stone-wrapped kitchen islands, floor-to-ceiling windows, and in-unit washer and dryers. Superior features and finishes include tall matte lacquer soft close cabinets, full tile backsplash, modern ENERGY STAR® appliances, porcelain tiled showers, front-lit vanity mirrors, and wood-look flooring. Inboard private balconies are available in select residences. With leasing and property management by Bozzuto, meticulous attention will remain a cornerstone of the project’s DNA, conveying warm hospitality and a strong sense of community

“We are thrilled to launch the leasing program for Cascade and soon unveil this new addition to the Miami skyline,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “Our vision for this property, and the entire Link at Douglas community, was to meet the growing needs of today’s contemporary renter who is seeking modern living options linking them to the heart of their city. We have curated a lifestyle that is elevated in every sense, from refined design, thoughtful amenities and ultimate connectivity, to the building’s physical footprint as an eye-catching emergence visible along the US-1 corridor.”

The property’s exquisite details and views — spanning the surrounding lush treetops to the waters of Biscayne Bay — are further elevated by a cascade of amenities that await. From socialites to those who simply desire to bask in South Florida’s sunshine, the 10th-floor amenity deck is a sophisticated oasis for all. At its core is a resort-style pool with luxury lounge seating, cabanas, and a poolside bar. Date nights and family gatherings level up with an outdoor movie screen and a game room complete with billiards, shuffleboard and card tables. Fitness fans can also head to the basketball half-court or yoga studio. Cue grilling stations for gatherings, with outdoor dining or an indoors social lounge complete with comfortable seating, modern kitchen, media room, and a kids’ playroom catering to Cascade’s youngest residents. Plus, pet owners can ensure their four-legged friends feel as much at home as they do with an onsite dog run and wash.

Designed by Arquitectonica, Cascade’s glass-wrapped tower celebrates elements that unite comfort and style with sophistication and a tropical twist. With interiors by Design Agency, the property features teak wood and textured wall designs in contrast with matte black accents, creating effortless elegance without exclusivity. Earth tones can be found throughout, from relaxed greenery and natural wood details in the lobby lounge to a lush garden display outlining the expansive amenity deck, offering serenity in each space.

Cascade’s transit-oriented appeal – direct access to the Metrorail system, bus lines, and Coral Gables’ Trolley – creates a seamless link to popular communities, including Brickell, Downtown Miami and the Health District, and makes car-free living an easy choice for residents. It is just minutes from Miami’s most in-demand shopping, dining and entertainment destinations, from Downtown Coral Gables to Shops at Merrick Park to South Miami and vibrant Coconut Grove, and the University of Miami’s main campus is a quick walk or bike ride away.

In its full vision, the overall Link at Douglas master plan will encompass approximately 1,600 residential units, over 32,000 square feet of retail space, and a public plaza that connects with The Underline. Last year, the development team delivered Cascade’s sister property, CORE, a 22-story multifamily tower encompassing 312 apartment residences and 6,000 feet of ground-floor retail.

Fueled by Miami's Growing Tech Sector, Wynwood's Luxury Residential Market Continues to Skyrocket

As tech companies and financial institutions flock to the graffiti-soaked streets of the Wynwood Arts District, Miami’s cultural and creative capital is swiftly becoming the city’s tech epicenter — and that’s having a profound impact on luxury residential sales, including several record-breaking transactions.

The former warehouse district turned canvas for contemporary street art is now home to some of the country’s most innovative companies, including Spotify, Live Nation, PwC and venture capital firms Founders Fund and Atomic — all of which recently opened offices in Wynwood.

“Wynwood is the destination of choice for relocating tech and finance firms and their respective talent, many of whom are looking to put down roots in Miami,” said Nick Pérez, Senior Vice President for real estate powerhouse, Related Group. “It’s undoubtedly become one of the most sought-after neighborhoods in what is already a white-hot residential real estate market.”

As a neighborhood pioneer, Related was the first residential developer to enter Wynwood, delivering the neighborhood’s first newly-built residential property, Wynwood 25. With its 2019 opening, Related kicked off a wave of development that has since transformed the area into one of the hottest residential markets in the country. Related alone has a total portfolio, including units completed and under development, of more than 1,250 luxury rental apartments in Wynwood, with practically zero vacancies.

Now, the developer is betting big on the future of Wynwood’s luxury condominium market. Earlier this year, Related, in partnership with New York-based developer Tricap, introduced the NoMad Residences Wynwood, the first hospitality-infused condominium in the area. As the first residential concept from the global hospitality icon, NoMad Hotels, the property is seeing significant demand from buyers. In fact, the developer reports having signed contracts on more than 50% of the homes, including a unit at roughly $2,000 per square foot, shattering neighborhood price records.

“Many in the industry thought we had lost touch when they saw how much we were investing in the area,” adds Pérez. “Fortunately, our bet paid off big and today we’re the single most active developer in the area. Much like we did with our rental projects, we hope to set an example that other condo developers can follow. Not only are we delivering a high-quality product that buyers can be proud to call home, but doing so in a way that is authentic to Wynwood.”

Designed in collaboration with globally-renowned partners DesignAgency and Arquitectonica, the nine-story NoMad Residences Wynwood offers 329 turnkey condominium homes. Layouts range from studios to two bedrooms, each featuring floor-to-ceiling windows and private balconies. All units will come fully furnished, with packages thoughtfully curated by DesignAgency.

Developed with no rental restrictions, buyers will also have the option to rent their units to guests for any length of time. An expert in-house property management team will spearhead check-in and check-out and assist unit owners with the overall process.

Surrounding the property is a vibrant, walkable community that boasts over 70 art galleries, luxury boutiques, seven Michelin-star and many five-star restaurants, and the world-famous Wynwood Walls. Much like how NoMad New York helped transform Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, Related and NoMad anticipate this new property will contribute to Wynwood’s impending growth.

At the heart of this promise is the property’s best-in-class food and beverage offerings, which will be open to the public and include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, VP of Food and Beverage at Sydell Group and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park. On NoMad Wynwood’s ground floor, residents and the community will be able to enjoy a Casa Tua Cucina, an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare.

In addition to the showstopping eatery and bar, the development offers a full suite of resort-style amenities, including an expansive rooftop lounge with striking panoramic views of downtown Miami, a fully serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. The signature NoMad Library and Lounge, located on the ninth floor, will serve as a secondary resident hub, featuring NoMad-curated experiences and events, ample shared workspaces, and more.

Additional on-site highlights include an outdoor theater with a seating lawn and grilling area, 24/7 valet service, and museum-quality art handpicked from the Jorge M. Pérez Collection.

NoMad Residences Wynwood has achieved several important construction milestones, including the application for permits after the building’s plans were approved by the Urban Development Review Board. The sales team has also begun converting reservations to contracts.

Pricing for NoMad Wynwood’s available units begins at $600,000. For more information or to arrange a private tour of the sales gallery, please visit nomadwynwood.com or call (786) 437-3355.

FIVE PARK UNVEILS PLANS FOR FIRST RESIDENTS-ONLY MEMBERS CLUB

Terra and GFO Investment’s Five Park, the newest luxury residential tower rising in Miami Beach, reveals plans for the first residents-only, fully serviced social club within a luxury condominium. The Canopy Club features a social amenity package rooted in cultural programming, wellness and elevated culinary offerings.

“Five Park’s Canopy Club represents a new standard of luxury and exclusivity in Miami Beach,” says David Martin, CEO of Terra. “We developed a selection of amenities that enhance quality of life, wellness, culture and connectivity. Five Park residents will make their homes within a building that embodies a complete living, breathing ecosystem, offering dynamic spaces and creative programming to their doorsteps.”

Helmed by a world-renowned team of visionaries, Five Park sets a new precedent for Miami Beach lifestyle, unveiling 50,000 square feet of in-house amenities and a three-acre park outside. Perched on the 26th floor, the Canopy Club spans 40,000 square feet of social spaces, which include a private dining room, jewel box bar and lounge, living rooms, library, den, outdoor terraces, wellness and fitness areas. Additionally, residents have their own stretch of the beach just a couple of blocks away at the Five Park private beach club. Located on South of Fifth, the outdoor club unveils a branded, exclusive section with lounge chairs, umbrellas and food and beverage service.

“Miami has become a mecca for luxury,” says Cathy Strafaci, executive vice president and managing director of Douglas Elliman. “As the luxury condominium landscape continues to evolve, so are the buyer standards for elevated lifestyle and exclusivity.”

Canopy Club features a dedicated club-level concierge and robust programming. From white glove attention, to wellness, dynamic leisure areas and the finest dining, the Club allows residents to live, work, play and entertain their guests in a variety of spaces suited to every mood. Members will be able to take full advantage of the Canopy Club’s Specialty Dining and Beverage Program, a seasonal dining experience curated by renowned chefs, set in the exclusive jewel box bar and dining room. The Club also includes state-of-the-art wellness areas and a signature spa with in-house personal trainer and wellness coach, private training areas, amid spectacular bay and ocean views.