Continuum Company Announces Cullen Mahoney As New Senior Development & Acquisitions Officer

Continuum Company, a New York City-based boutique real estate development firm focusing on ground-up developments that create value for both the consumer and investor, announced today that Cullen Mahoney is joining the company as the Senior Development & Acquisitions Officer for Florida.

“Continuum Company is thrilled to welcome Cullen to the team,” Alexandra Eichner, President of Continuum Company, said. “We believe he is the perfect addition as we begin to hone in on the South Florida real estate market.”

For the past two decades, Continuum has eyed South Florida as an up-and-coming real estate enclave. In 2000, Continuum launched its first South Florida-based high-rise project, now known as the Continuum, which boasts a 42-floor north tower and a 37-floor south tower for a total of 527 units. Continuum has recently emphasized further expanding its projects into the South Florida market. Spearheaded by Alexandra Eichner and Phil Gutman, President of PGutman, Continuum has commenced construction on La Baia South, which is 100% sold, and launched sales on La Baia North. Additionally, Continuum just announced that it acquired a 1.34-acre site in North Bay Village for a brand-new luxury condominium building.

Enter Mahoney – with over a decade of experience in real estate and development in South Florida, he will serve as a tremendous asset to Continuum as the firm continues to expand into the Florida market. Prior to joining Continuum, Mahoney worked as a Development Manager for Miami-based Related Group. In this role, he worked on several Miami-based development projects in both the luxury condominium division and the market-rate apartment division, most notably his involvement with Residences by Armani/Casa. His collective real estate projects portfolio is valued at over $1 billion.

Prior to joining Related Group Mahoney graduated from University of Miami School of Law with a Masters of Law in Real Property Development.

“Since the pandemic, South Florida has seen unprecedented growth. While inflation impacts construction costs and higher interest rates cool demand, we are continuing to see a steady wave of sophisticated buyers transacting in our market,” Mahoney said. “Continuum is carefully curating development sites and providing a high-quality product that continues to be prosperous regardless of market conditions. I am excited to join the team,” he adds.

CMC Group and Morabito Properties Top Off Construction On Onda Residences In Bay Harbor Islands

Ugo Colombo’s CMC Group and Valerio Morabito’s Morabito Properties have topped off Onda Residences at 8 stories in Miami’s exclusive Bay Harbor Islands community. The bayfront Onda Residences is a 41-unit boutique luxury condominium project being developed along Biscayne Bay at 1135 103rd Street. 85% of its units are already sold ahead of its completion which is slated for later this year. Coastal Construction serves as the development’s general contractor. Onda will be the first newly-built condominium to deliver and welcome residents among a slew of recently launched projects coming over the next few years to Bay Harbor Islands, which is currently experiencing a surge in new development activity.

“Once complete, Onda will be a coveted residential retreat in one of Miami’s most desirable neighborhoods,” said developer Ugo Colombo, Founder of CMC Group. “The building’s boutique lifestyle, idyllic bayfront location, and timeless design will make it a standout property for years to come,” added developer Valerio Morabito, CEO of Morabito Properties.

Residences consist of impeccably finished units ranging from two- to four-bedroom plus den floorplans, measuring between 1,809 and 3,535 square feet in size. Four penthouse residences measure up to 5,073 square feet – two of which include private rooftop pool decks. With only a limited selection of residences remaining, inventory is priced between $5 million and $8.4 million.

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

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

Onda’s prime Bay Harbor Islands location offers more than 300 linear feet of bay frontage and sweeping views of Biscayne Bay and the Atlantic Ocean. Among Onda’s most popular features is its private marina with 15 boat slips, which are exclusively available for residents to purchase. The development will also include a water sports launch dock with kayaks, paddle boards and inflatables available for use, in addition to direct ocean access through Miami’s Haulover inlet.

Building amenities will include a rooftop pool deck and lounge area; a state-of-the-art fitness center with Technogym equipment, a yoga studio, a spa with massage treatment rooms, changing facilities, and steam bath and sauna rooms. Onda will also feature personalized services, state of the art security and technology along with a front desk reception, covered valet drop-off area, personal parking spaces, electric vehicle charging stations and bicycle storage, and residential storage space. The building will offer an integrated digital concierge along with readily accessible WiFi throughout all public spaces, and FTTH (fiber to the home) technology for voice, video and high-speed internet.

Colombo and Morabito previously partnered in 2016 to lead the development of Beach House 8, a nearby boutique waterfront condo building on Collins Avenue in Miami Beach. Most recently, Colombo and his firm CMC Group delivered Brickell Flatiron, a 64-story luxury tower in Downtown Miami’s Brickell Financial District. Now, the firm is gearing up to start construction at Vita at Grove Isle, an ultra-luxury boutique condominium development located on the private island of Grove Isle in Miami’s Coconut Grove neighborhood. Morabito is also currently developing Wyncatcher, a mixed-use office development in Miami’s Wynwood Arts District.

Images via CMC Group/ Morabito Properties/ Become Legendary

Shoma Group Reveals Elevated, New Look Renderings Of Shoma Bay In North Bay Village

Miami-based developer Shoma Group has unveiled a fresh new look to Shoma Bay, a 24-story, 333-unit condominium located in the exclusive waterfront community of North Bay Village. The new tower design seamlessly melds a classic art-deco aesthetic with a modern facade while adding community-minded amenities such as a zen garden, grocery delivery room, wine cellar, cigar lounge, and other dynamic features. With prices starting in the $450,000’s, Shoma Bay is built with a holistic approach to living and caters to those looking to integrate the live, work, wellness, and play lifestyle.

"Every detail and space has been maximized to bring owners a heightened level of comfort and practicality," said Masoud Shojaee, CEO and Chairman of the Board at Shoma Group. "We carefully curated this project to deliver a vibrant yet sophisticated experience in one of the world's most exciting cities."

The 2.8-acre mixed-use development will offer furnished studios to three-bedroom units, ranging from 344-square-foot to 2,700-square-foot, with each floor plan designed to maximize efficiency and comfort. The project will be anchored by a 35,037-square-foot Publix and 6,325 square feet of retail space, which includes a rooftop lounge and Shoma Bazaar food hall.

"With stunning views, convivial spaces to work or play, and exciting happenings from day to night, Shoma Bay is poised to become a cultural epicenter for its residents and locals," stated Stephanie Shojaee, President of Shoma Group. "We wanted to create a unique yet thoughtful concept, fusing together the local landscape with the quality our company is known for. We teamed up with incredible partners to bring the overall design, and we're looking forward to becoming one of the most sought-after destinations in Miami."

Renowned designer Adriana Hoyos created practical interiors, including all common areas and residences, with sleek design finishes and warm organic tones, allowing each residence to be flooded with natural light.

Ideally situated at 79th Street Causeway and East Treasure Drive, the pedestrian-friendly destination is located near all major highways and the hottest restaurants and retail South Florida offers. ISG World, led by principal and owner Craig Studnicky, is the exclusive brokerage for the property's condos.

Intending to provide residents with an exceptional living experience, Shoma Bay also features several upscale amenities, including a resident lounge and bar, spa, Hammam, golf simulators, fitness center with Technogym equipment, pet spa, and kids club, as well as a 6,030-square-foot pool deck with panoramic water views overlooking Biscayne Bay with a pool, cabanas, and summer kitchen. Additional elements include a library, a 2,600-square-foot coworking business lounge, a lounge with a coffee bar and areas for gaming and movie watching, assigned gated parking, electric vehicle charging stations, a designated bike room, and storage spaces.

Shoma Bay is designed by MSA Architects and is located at 1850 John F. Kennedy Causeway in North Bay Village. It is slated to break ground in the summer of 2023 and is expected to take 18 months to complete.

Pacific & Orient Properties Reveals And Breaks Ground On Japanese-Inspired 7918 West Drive North Bay Village Luxury Condo

Pacific & Orient Properties, LLC has revealed and broken ground on the limited edition Japanese-inspired 7918 West Drive, the first luxury waterfront condominium to break ground in North Bay Village in over a decade. Located at 7918 West Drive, the 21-story, 54-residence elegant waterfront condominium development is both uniquely designed and technologically advanced. 7918 West Drive is developed by Pacific & Orient Properties, LLC, a subsidiary of Kuala Lumpur-based Pacific & Orient Berhad. The estimated completion date for the development is March of 2025.

Situated on a 33,600-square-foot lot in North Bay Village, 7918 West Drive sits on the Intracoastal Waterway between El Portal and Normandy Isles. Surrounded by water near a natural preserve, it is located directly on Biscayne Bay and close to both Biscayne Blvd as well as Miami Beach. 7918 West Drive’s advanced technology will include customized software automatization for the latest in privacy, security and convenience. Each unit will feature a high-speed fiber internet IT control center.

A limited edition contemporary development, 7918 West Drive features panoramic views: North Bay Village and Biscayne Bay to the east, a public park to the north, low buildings to the south and uninterrupted water views to the west.

“A chic, serene retreat, 7918 is situated just far enough away from the hustle and bustle of the city, yet centrally located to exciting attractions,” said Maurizio Pejoves, director of Pacific & Orient Properties. “Merging innovative design and luxury with advanced technology, it is an architectural masterpiece,” he continued.

World-renowned designer Juan Azulay, founder and director of MTTR mgmt, an award-winning creative practice, is the project architect. Using digital design parametric methodologies to optimize the building’s form, Azulay creates undulating panel forms, non-repeating intercut balconies that affect shadows and light lines of lower floor balconies, and an open area system ― a distinctive design that looks to the future.

The customized residences, ranging from 1,677–7,086 square feet total, will have a minimum of two bedrooms, with at least two view exposures to Biscayne Bay. All three-bedroom units will be corner units, and limited to four units per floor. The 3,661-square-foot penthouse will feature five bedrooms, five bathrooms, one half-bathroom, a 1,232-square-foot balcony, and more. None of the residences will be alike in terms of area, glass-line and balcony-interior layout relationships.

Residences will feature a state-of-the-art German Siematic kitchen with Cosentino/Dekton countertops, Miele appliances with mobile technology connection, and Hansgrohe and Kohler plumbing fixtures. Bathrooms will include Dekton finishes and countertops, Spanish quality finishes by Iberia, and an innovative Viega plumbing system. Large balconies will provide a relaxing “indoor-outdoor” lifestyle.

7918 West Drive will feature 15,224 square feet of common areas, 148 parking spaces and 34 storage units. The development will include a pedestrian walkway along Biscayne Bay. Amenities will include a swimming pool, fitness center, elevated garden, club room and state of the art fully equipped Chef’s kitchen.

Thornton Residential is the general contractor for the project. Thornton Residential has been servicing the South Florida region for the last two decades, continually working with some of South Florida’s largest clients; a testament to their quality work and ability to deliver great projects. Combined, they have constructed over $1 billion in the South Florida region. Their experience with various facility types has sharpened their skills, allowing them to understand how to quickly identify and resolve each project’s unique challenges.

For more information about 7918 West Drive, private showings or purchasing/ leasing information please fill out the form below:

University of Miami Real Estate Impact Conference 2023 The Largest Edition Yet As Real Estate Leaders Discuss The State of Miami Real Estate

On Friday, February 10th, the University of Miami Herbert Business School hosted the 2023 edition of its annual invitation-only Real Estate Impact Conference, which brought together board members, students, faculty, distinguished alumni and real estate professionals. Entrepreneurs and innovators met with leading commercial real estate investors to explore opportunities spurred by new technologies and the vibrant movement of people and capital to South Florida at the Real Estate Impact Conference, co-hosted by three University of Miami schools. The invitation-only conference was hosted at the newly completed Lowes Hotel Coral Gables with support from presenting sponsors Douglas Elliman Real Estate, Kislak Family Foundation, Witkoff and Ripco Real Estate.

More than 800 attendees, including University of Miami students and alumni, as well as many South Florida commercial real estate and finance professionals, joined 150 scholarship-supported students to discuss both threats and opportunities in the market at the multidisciplinary conference. Attendees included Dan Kodsi, Edgardo Defortuna, Allen Morris, Ronny Finvarb, Jay Masserman, Neil Fairman, David Luski, Matt Shore, Camilo Miguel Jr., Dev Motwani, Nitin Motwani, Scott Sherman, Jacques Bessoudo and Demetri Demascus. Speakers included Roy Hilton March, Armando Codina, Jonathan Tisch, John Buck and Ralph Rosenberg.

The 2023 University of Miami Real Estate Impact Conference brings together expert panels to bring insight on Miami’s ever evolving real estate market place and glimpse into the future from the city’s movers and shakers. Themed “Miami, In Motion,” the conference offered three panels—“Moving in Miami: A Transit-Oriented Initiative That Will Forever Change Downtown Miami;” “Why You Can Count on South Florida Real Estate;” and “Keys to Success for CRE (Commercial Real Estate) Investment and Financing.”

“The conference theme was geared to capture the energy of the county’s emphasis on transportation through its proposed downtown redevelopment plan and the fact that so many people and so much capital has been moving here, especially since COVID,” said Andrea Heuson, finance professor and academic-director of real estate programs at the Herbert Business School.

Heuson highlighted that nearly $2 billion in capital investment funds, much of it from Latin America, has moved into South Florida through the pandemic period.

The conference began with “Moving in Miami: A Transit-Oriented Initiative That Will Forever Change Downtown Miami” featuring John Buck, Chairman and CEO of The John Buck Company along with Miami-Dade County commissioners and agency specialists.

The county redevelopment panel focused on two key points for the proposed transformation of 178 acres in Miami’s downtown owned by the county: the requirement that new development must include improved transportation, accessing federal funds to expand Metrorail and the Metromover, and also that affordable housing be offered together with mixed market-rate housing.

It was followed by an exploration into “Why You Can Count on South Florida Real Estate” with Loews Hotel & Co. Executive Chairman Jonathan Tisch and legendary developer Armando Codina of Codina Partners. In the conversation, both shared from their personal histories.

“To learn how they went from nothing—Codina was sent here from Cuba (part of Operation Pedro Pan) and then lived in an orphanage and foster care—to become these iconic players in the real estate industry was so inspiring. And their advice to work hard, stay humble, and keep the right mindset and not develop a sense of entitlement was so important for me.” Said conference attendee Ismael Almanzar Ortiz, a University of Miami student who is midway through the Accelerated Real Estate MBA program at Miami Herbert Business School.

The conference was highlighted by the final panel, “Keys to Success for CRE Investment and Financing” featuring Global Head of Real Estate at KKR Ralph Rosenberg and Eastdil Secured CEO Roy Hilton March who gave insight onto how real estate markets are influenced by current inflationary and geopolitical factors in the global marketplace.

In addition to panel discussions and networking sessions, there were several special programs available to MRED+U, MBA, MSF and Law School students throughout the day. More than 100 current University students and alumni attended the morning ’Canes Connection gathering, offered for the first time. One of the benefits of membership on the University of Miami Real Estate Advisory Boards, which consist of over 100 prominent real estate professionals, is personal contact with the best and brightest students.

Heuson points out that scholarships and sponsor support make it possible for nearly all students to attend who want to. Additionally, she explained that the conference generates funds to support several University scholarships, such as Project Destined, geared to bring high achieving diverse students into the field, and also for the Accelerated Real Estate MBA, which includes a six-month paid internship component.

The 2023 University of Miami Impact Conference was hosted by Miami Herbert Business School which hosts it’s Accelerated MBA in Real Estate Program, The School of Architecture which hosts the MRED+U program and the School of Law which offers the LL.M. In Real Property Development.

Miami Herbert Business School’s 19-month Accelerated MBA in Real Estate, led by Dr. Andrea Heuson, offers students the opportunity to transform their careers with the 19-month MBA program which combines the leading business expertise of the Herbert Business School with the School of Architecture’s strengths in new urbanism. With Miami being a real estate powerhouse, the program offers students the invaluable opportunity to gain a general management perspective and hands-on commercial real estate experience through experiential learning, internships, and an interdisciplinary curriculum. For more information on the Accelerated MBA in Real Estate visit University of Miami’s Herbert Business School MBA in Real Estate Program here.

New Construction Palm Island Spec-Mansion Sells For $32 Million Setting Record As Most Expensive Sale Ever On Palm Island

A recently completed tropical modern spec-mansion on Miami Beach’s exclusive Palm Island has sold for a record $32 million, ringing in as the most expensive sale ever on the island. The buyer Ron Ozer who is CIO of hedge fund Statar Capital and the seller was real estate developer William Campbell. The buyer was represented by David Pullman with The Waterfront Team at ONE Sotheby's International Realty, while the seller was represented by Lourdes Alatriste with Douglas Elliman. The home was most recently listed for $39.9 million at the time of sale with Alatriste and was listed for as high as $51.9 million during construction.

Located on a .7 acre lot at 158 Palm Ave., the new construction home spans 14,000 + SF of oceanfront with 7 bedrooms and 10 bathrooms. The main residence features 6 bedrooms while a detached 5 car garage offers a 2nd floor guest suite. The residence features multiple living spaces with water views and telescoping glass sliding doors to blend indoor/ outdoor living. The home also features an office, movie theater, an oversized chef's kitchen, a 2nd floor balcony spanning the entire home with access to a rooftop balcony and a stunning primary suite with a lavish master bath complete with a soak-in tub. The outside provides a tropical oasis with infinity pool, summer kitchen and 100' water frontage with a private dock offering stunning bay and skyline views.

Images via Luxhunters

Related Group's Nick Pérez on Wynwood’s Transformation And The Future of Development in This Burgeoning Neighborhood

The Wynwood Arts District, famously known for its striking graffiti walls and vibrant arts and entertainment scenes, is now one of Miami’s most desirable places to live, work and play, with some of the biggest names in tech, dining, fashion and hospitality setting up shop in the neighborhood.

Leading this charge is real estate powerhouse, Related Group, the first developer to enter Wynwood in 2019 with the area’s first ground-up rental community, Wynwood 25, and the firm behind the premier Class-A office building, Wynwood Annex.

Now, Related is betting big on the future of Wynwood’s luxury residential market with NoMad Residences Wynwood, the first hospitality-infused condominium from the iconic brand, NoMad Hotels.

PROFILEmiami had the opportunity to speak with Related Group’s Senior Vice President, Nick Pérez, to learn more about this exciting new development and what the future holds for the area.

PROFILEmiami (PM): What initially attracted Related Group to Wynwood?

Nick Pérez (NP): JP Pérez, the President of the Related Group, initially convinced our father, Jorge Pérez, to enter the Wynwood neighborhood, which has been one of our most successful plays to date. When Related chose to build Wynwood 25, our first large-scale rental development in the neighborhood, we were impressed by the art district’s popularity with locals and tourists alike. We recognized that while millions of people were visiting Wynwood each year, there were no existing large-scale residential communities that catered to locals. It was this lack of quality housing supply that compelled us to deliver Wynwood 25, which opened four years ago, and has since ignited a wave of residential development that has transformed the area into one of the hottest rental markets in the county.

Thanks to JP’s visionary foresight, our bet paid off in a big way and today we are the single most active developer in Wynwood. Related alone has a total portfolio, including units completed and under development, of more than 1,250 luxury rental apartments in the neighborhood. Similar to our rental projects, we hope that the NoMad Residences Wynwood will set an example for other condominium developers to follow. Not only are we creating a high-quality building that our buyers will be proud to call home, but we are incorporating a wealth of food and beverage options that will be open to the public and contribute to Wynwood’s dynamic community.

We’re exceptionally proud of the progress we’ve made to date and look forward to the building’s groundbreaking later this year.

PM: Talk to us more about NoMad Residences Wynwood. How did the project come to be?

NP: As one of the pioneers behind the branded residences trend in Miami, we recognized the potential for a partnership with a reputable hospitality brand to envision a new type of condominium offering in Wynwood. The philosophy behind NoMad Hotels is grounded in the idea of the hotel as a great home, which spoke to us as residential developers. The brand’s expertise in creating and activating artfully-lived spaces made it the ideal partner for this project.

Furthermore, the NoMad New York was credited for transforming Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, and we feel strongly that the NoMad Residences Wynwood will further contribute to Wynwood’s incredible evolution, leading it to become one of Miami’s most inspired and sought-after destinations.

We developed NoMad Residences Wynwood in partnership with New York-based Tricap and collaborated with our globally-renowned design partners, DesignAgency and Arquitectonica. In addition to a full suite of resort-style amenities, the nine-story building will include two signature food and beverage offerings that will be open to the public, including the rooftop restaurant and mixology bar, The NoMad Bar. On NoMad Wynwood’s ground floor, residents and the community can enjoy a Casa Tua Cucina, an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare.

PM: Wynwood is rapidly transforming into Miami’s tech epicenter. How have Related’s properties contributed to this growth?

NP: In the wake of the pandemic, Wynwood became a major hub for innovators within the tech and finance spaces, including Founders Fund, Atomic Venture Capital and Live Nation Entertainment, which opened offices at The Annex.

The range of forthcoming hospitality and residential offerings, including the Arlo Hotel, Moxy Hotel and the Related communities, will cater to the needs of this growing workforce, much of which is looking to put down roots in the neighborhood.

In fact, this growing tech population paired with the highly regarded NoMad brand has directly translated into robust sales activity at NoMad Residences Wynwood. More than 50% of the building’s 329 fully-furnished homes are already in contract, including one priced at roughly $2,000 per square foot, which shattered neighborhood price records.

PM: Why is the neighborhood attractive to companies wanting to open an office in Miami?

NP: South Florida has experienced tremendous population growth in recent years as many people relocated from New York City, Chicago, Atlanta and parts of Texas.

Wynwood is unique in that it offers a highly creative environment with proximity to the Miami Design District, Midtown and Miami Beach, making it an ideal location for companies looking to tap into the city's diverse business and cultural communities. The neighborhood is home to acclaimed art galleries, luxury boutiques and Michelin-star and five-star restaurants, all of which contribute to its appeal.

PM: What’s next for Related after NoMad?

NP: The Related team has worked to revitalize neighborhoods and improve communities since my father founded the company more than 40 years ago. We’re often among the first to recognize the signs of a promising market like Wynwood. One of our primary goals is to bring projects to life that complement and contribute to the desirability of the surrounding neighborhood — and NoMad Residences Wynwood will be a standout example of that. We can’t wait to show off the finished product.

Rilea Group Acquires Final Parcels To Complete Assemblage for Mohawk Wynwood

Rilea Group has closed on an expansion of its assemblage for its rental project Mohawk at Wynwood for $5.7 million, represented by Alfredo Riascos of Gridline Properties. The seller was represented by Alfonso Jaramillo of Fortune. The purchase brings Mohawk’s site to 78K square feet, which sits adjacent to its short-term luxury rental property, The Rider Wynwood. Rilea Group is now transforming 2.5 acres, nearly an entire block, at NW 29th St. and the Florida East Coast Railway line. Rilea Group is a multi-faceted real estate development and management company that has developed over 9,500,000 square feet in South Florida.

The expanded footprint will add 34 new units, including 20 New York style, two-story lofts at Mohawk, underscoring the company’s confidence in the market’s growth at the border of Midtown and Wynwood neighborhoods and demand for unique rental real estate.

Over the past 10 years, Wynwood has experienced significant growth, as have its property values. It continues to emerge as one of South Florida’s hottest, upcoming areas for new residential and office developments.

“Wynwood is on a meteoric rise and we’re thrilled to be a part of fomenting its growth,” said Diego Ojeda, president of Rilea Group. “We have put together a standalone team that through our unparalleled architecture and interior design, we will bring a unique concept which will be like nothing seen before in the neighborhood. Mohawk at Wynwood’s punk rock theme and our neighboring project, The Rider’s ‘easy-rider’ persona, will be sure to attract a great crowd to the market.”

Realty Mogul, an innovative crowdfunding platform for commercial real estate investment, is the largest fundraising partner for Mohawk at Wynwood. It is expected to launch a fresh raise of additional capital in the coming weeks for the project’s continued expansion and future construction, slated for later this year.

Mohawk at Wynwood will feature 260 residential units and 31K square feet of ground floor retail, 335 covered parking spaces with 25 percent dedicated to electric vehicles, 1,500 square feet of private offices for residents in a 12-story building covering a total of 78K square feet of land. Mohawk’s amenities will include a dazzling rooftop pool, game room, state-of-the art gym, outdoor and indoor yoga studios, owner’s lounge and bar, outdoor and indoor kid’s room, a large private park, dog park, two pickleball courts, and more.

The Rider at Wynwood will have 131 apartment-hotel luxury units for short-term rentals, 6,500 square feet of ground floor retail, a rooftop pool for residents and a speakeasy-concept rooftop bar in a 12-story building. The buildings’ architecture will feature Chicago-brick facades coupled with aged metal accents throughout.

Rilea Group’s acquisition of the initial assemblage began in June 2021 when Alfredo Riascos of Gridline Properties represented buyer Rilea Group / Alan & Diego Ojeda and seller David Lombardi in Rilea Group’s $22 million acquisition of the adjacent 65,700-square-foot site at 56 NE 29th St., Miami, FL 33137, also part of the Mohawk at Wynwood assemblage. In addition, in October 2021, Gridline Properties represented the Rilea Group / Alan & Diego Ojeda in its purchase of the adjacent 31,358-square-foot property at 100 NE 29th St., Miami, FL 33137 for $12.25 million, slated for The Rider at Wynwood site. The seller was Jeffrey Miller.

Clara Homes Closes On $26 Million Construction Loan For Clara Bay Harbor Luxury Rental Development

The Miami-based Clara Homes, led by James Curnin, has closed on a $26 million construction loan financed by Maxim Capital for Clara Bay Harbor. The three-building development, Miami’s most anticipated new ground-up luxury rental community, will feature 150 total residences with five-star service and a suite of thoughtful amenities. Clara Bay Harbor’s first building is slated to break ground this March, with completion anticipated for Spring/Summer 2024. The entire master plan is expected to complete by the end of 2025. Clara Homes is a Miami-based vertically integrated real estate firm specializing in residential and commercial development, custom single-family homes and operations oversight.

“We are committed to bringing buildings to market that elevate luxury rental living across South Florida,” says James Curnin, CEO and Founder of Clara Homes. “This construction loan reaffirms the vision and confidence we have in Clara Bay Harbor. The project will offer renters high quality residences, designed with the same sophistication and style as our custom homes.”

Nestled between the world-famous Bal Harbour Shops and Miami’s exclusive Indian Creek, Clara Bay Harbor will offer an enviable lifestyle and location in the heart of Bay Harbor. Situated just minutes from the Atlantic Ocean as well as the best shopping and dining in the city, Bay Harbor is one of the most desirable residential areas in Miami, celebrated for its small-town feel and focus on community. The waterfront neighborhood is now transforming into an exclusive luxury destination with the development of new high-profile projects such as Clara Bay Harbor. The three buildings of Clara Bay Harbor will set a new standard for rental living across South Florida.

“Clara Homes is an experienced South Florida builder and a longtime Maxim client,” said Adam Glick, principal and cofounder of Maxim Capital Group. “We’re looking forward to completing a luxury rental building in one of the fastest growing markets in the country with one of the best residential developers in the Miami area.”

Construction for Clara Bay Harbor will be completed in three phases. The first phase introduces the first of three six-story buildings. Located at 10281 W. Bay Harbor Drive, the first building will tout 28 luxury two-to-five bedroom rental residences, a parking garage, and an amenitized rooftop space encompassing a swimming pool, exercise area, and sundeck. The other two buildings located at 1147-1163 100th Street and 10200 East Bay Harbor Drive are scheduled to break ground later this year.

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. Curnin got his start in the industry working under the late legendary developer Jack Parker, his great-grandfather, in New York City on high-profile projects such as Parker Meridian Hotels, Parker Towers, Parker Plaza and Truffles Tribeca.

Leasing for Clara Bay Harbor will be exclusively handled by Douglas Elliman Development Marketing.

PMG, Lion Development Group and Marc Roberts Companies Launch West Eleventh Residences In Collaboration With AirBNB

National developer PMG, Michael Simkins’ Miami-based Lion Development Group, and Marc Roberts Companies have launched sales for West Eleventh Residences, their third luxury short-term rental tower in Downtown Miami’s hot Park West neighborhood now dubbed District 11. Located at 18 NW 11th Street, West Eleventh Residences will offer short-term rental flexibility and a first-time opportunity for owners to enjoy fully centralized management with the ability to host guests 365 days a year on Airbnb. Situated in Miami’s District 11, one of the city’s most notable entertainment destinations, the tower will rise 44 stories and offer 659 fully furnished, turn-key residences complete with vibrant amenities and a distinctive 30,000 square foot, tri-level experiential entertainment and food hall on the ground floor.

With this first-time collaboration, the rental potential for a short-term rental tower doubles from the traditional 189 to 365 days a year. Developers typically chose to max out short-term rental restrictions at 189 days, however PMG is leading the charge of year-round rentals in Miami.

“We are excited to announce the launch of West Eleventh Residences. The demand for short-term rental properties with onsite support for seamless hosting is high in South Florida, especially in Downtown Miami,” said Ryan Shear, Managing Partner at PMG. “Not only will West Eleventh Residences offer flexible living options and luxury condo ownership for buyers, but it will also provide impeccable residences and superb amenities for Airbnb guests and owners to enjoy.”

West Eleventh Residences will give owners the ability to host on Airbnb year-round with seamless centralized management, the first tower in Miami to offer this distinctive luxury. Each residence will be optimized for hosting on Airbnb, giving owners unparalleled autonomy and peace of mind through the convenience of hospitality-level service and oversight. The knowledgeable concierge staff will assist owners in the creation of personalized listings with services ranging from crafting the perfect listing description to offering professional photography resources.

Designed by internationally renowned architecture firm Sieger Suarez Architects, with residential interior concepts by ArX, West Eleventh Residences will offer the latest smart building technology, top-of-the-line appliances, and sweeping views of the Miami skyline, Biscayne Bay, and the Atlantic Ocean. Each of its fully finished and fully furnished studio and one-bedroom residences will also be equipped with PMG smart home technology, delivering seamless personalization with the touch of a button for integrated audio, video and lighting systems.

In addition to the in-residence features, residents at West Eleventh Residences will have access to over 20,000 square feet of elevated amenity space specially curated to extend owner comfort. Amenities include a resort-style pool, private lounge areas, state-of-the-art fitness and wellness centers, a signature on-site restaurant, and more.

“Miami is continuously proving itself as an evolving, world-class entertainment destination people want to call home,” said Michael Simkins, President and CEO of Lion Development Group. “Our collaboration with PMG and Marc Roberts Companies on West Eleventh Residences will once again underscore the area’s potential, solidifying Downtown Miami’s District 11 into a true live-work-play community for all. We are looking forward to delivering this transformative development to the neighborhood.”

West Eleventh Residences marks the fifth PMG property to launch in Downtown in the past 3 years, with a nearly $3 billion total sellout value of all developments. With luxury residential developments nationwide, PMG delivers impeccable attention to detail throughout each of its projects. The developer is notable for meticulously designed condominium developments such as 111 West 57th Street, Walker Tower, Stella Tower, 111 Leroy in New York City, Echo Aventura, Muse Residences Sunny Isles, Echo Brickell and Mei in South Florida, as well as Waldorf Astoria Hotel & Residences Miami, The Elser Hotel & Residences in Miami, and two other successful pre-construction towers in Miami’s District 11. Currently, PMG is developing more than five million square feet of new development that will deliver sophisticated design, high-end finishes and premium quality.

PMG Residential will exclusively represent sales for West Eleventh Residences.

Conceptual renderings via ArX Solutions

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