The Perigon Reveals Exclusive $37 Million Ultra-Lavish Penthouse West In Miami Beach

Miami Beach’s most anticipated oceanfront condominium towers, The Perigon, designed by OMA, has revealed its crowned jewel Penthouse West, an exceptional new listing priced at $37 million offering panoramic views of the Miami skyline, Biscayne Bay and the Atlantic Ocean. The two-story Penthouse West, featuring a dynamic composition of gracious interiors offering uninterrupted ocean views as well as sweeping outdoor spaces, represents Miami Beach’s highest level of luxury coastal living.

The ultra-lavish Penthouse West fulfills the demand for a modern residence, teeming with the rarest touches of finishes and materiality. As one of the only new developments with a prized location directly on the sand, rising 17 stories tall, The Perigon exclusively offers a premium amenity suite, Michelin-starred chef curations and dining services, cutting-edge architecture and the ultimate luxury of privacy and exclusivity.

“Catering to the most discerning buyers, we curated every detail of The Perigon with their lifestyle in mind, from architectural design, to interiors, to the food and beverage programs, always offering a refined yet approachable style of luxury,” said Camilo Miguel Jr., CEO of Mast Capital. “Penthouse West is the epitome of this offering, appealing to those seeking sophisticated design, seclusion and privacy, unparalleled views of the ocean and Biscayne Bay, and the pinnacle of indoor-outdoor luxury living.”

Situated at 5333 Collins Avenue between Indian Creek and the Atlantic Ocean, The Perigon’s Penthouse West will invite its residents to enjoy an enriched lifestyle atop Miami Beach’s most celebrated architectural marvel. Residents will enter their residence through their private elevator landing, leading directly to the grandiose abode spanning two stories, four bedrooms, five bathrooms and a powder room. Its expansive 5,685 square feet of interior living space complements the 6,487 square feet of exterior space spread over multiple outdoor terraces and a private landscaped rooftop. This private, wraparound oasis with sweeping ocean and Miami-city views includes a 30-foot, infinity edge swimming pool, sundeck, lounge area, full outdoor summer kitchen, complete with a grill for outdoor dining.

Enviable interiors and high-end finishes integrated throughout the open-concept floor plan by designer Tara Bernerd, best known for her hotel and private yacht properties, distinguishes the Penthouse from any other offering in the market. A double-height great room with soaring 22-foot ceilings leaves a lasting impression and is accentuated by a wraparound terrace. The unique combination of hand selected organic fabrics, refined materiality and tailored weaves creates dimension throughout the space with the juxtaposition of stone, glass, and wood, as seen with the dramatic yet modern floating staircase.

Envisioning the penthouse with the essence of a five-star resort, Bernerd selected materials that subtly nod to the city’s iconic beach. Thus, color palette choices for the home include a warmer Italian Walnut or a lighter, European White Oak, a material also found in the dual primary bathroom’s vanities. The design of the bathroom captures the serenity of a spa featuring 10-inch thick, honed white marble countertops, dual rain showers, two enclosed water closets, and a white marble soaking tub with bronze accents opening to private outdoor terrace space. These bronze fixtures appear again in the Chef’s kitchen alongside custom Italian cabinetry, stone face drawers, honed marble countertops and backsplash, custom fluted marble island with a gas cooktop, walk-in pantry, and integrated Sub Zero and Wolf appliances that include a full-height wine refrigerator and double oven.

Perfectly equipped for dining and entertaining, the kitchen at Penthouse West opens onto a private breakfast terrace offering magnificent water and city views. The primary bedroom includes two oversized dressing rooms, a midnight bar, and a private outdoor living room to retire at the end of the day and take in stunning views of the sunset over the coast. The three guest suites feature their own walk-in closets and private terraces, and the staff quarters include a separate ensuite bathroom. Through its attentiveness to detail and emphasis of space and privacy throughout its floorplan, the resulting design language for Penthouse West upholds Miami’s nautical and cultural traditions, appealing to the well-traveled and design-conscious resident wanting to experience all the city has to offer.

“As the global elite consider adding a Miami residence to their collection, it became clear that the market needed a new oceanfront trophy residence that would impress an eclectic clientele. Penthouse West is a home that will quickly capture the attention of a worldly, sensible buyer that appreciates space, privacy and refined design,” said Jay Parker, CEO of Douglas Elliman.

As the first residential building designed by OMA New York on Miami Beach, The Perigon is the city’s premier destination for luxury coastal living with its bold architecture, impeccable design, and sophisticated, elegant interiors. The tower was inspired by the rivieras of Europe to combine the intimacy of a single-family home with the allure of high-rise living for an elevated waterfront living concept. The light-filled open floor plans include 10-foot ceilings complemented by 10- to 12-foot-deep wraparound terraces, custom Italian kitchen cabinetry in the grand kitchens, primary bathrooms adorned in marble with dark bronze fittings, and dramatic soaking tubs overlooking the shoreline and Miami skyline in select residences.

The Perigon is also the only building to offer more than 20,000 square feet of amenities providing both exclusivity and an idyllic Miami Beach setting for connection and socializing. Honoring its balmy environment, the building invites its residents to embrace the true indoor-outdoor living experience it so thoughtfully crafted. The plentiful hybrid, indoor-outdoor spaces create a seamless connection to nature, and lush gardens and serene water features envisioned by Gustafson Porter + Bowman, the landscape architecture firm that designed the green space at the Eiffel Tower, further elevates this South Floridian oasis. From a breakfast and sunset lounge and oceanfront, residents-only, private restaurant and speakeasy led by world-renowned, Michelin-starred Chef Shaun Hergatt to an oceanfront swimming pool with cabanas, terraced fitness center with water views, children’s playroom, private salon, screening room, and billiards room, The Perigon’s full suite of unparalleled amenities will entice its residents to enjoy life to the fullest.

The Perigon, a joint venture between Mast Capital, one of South Florida’s most active real estate development and investment firms, and Starwood Capital Group, a leading global private investment firm, is currently in the process of demolishing the existing structure on the site and slated to complete construction in 2026. Pricing starts at $4.14 million, with sales and marketing exclusively handled by Douglas Elliman Development Marketing.

Merrimac Ventures and BH3 Management Join Forces For New Development on Watson Island

BH3 Management and Merrimac Ventures, two of South Florida’s leading development firms, have teamed up to execute the City of Miami’s long-held vision of a thriving destination on Watson Island. The joint venture will draw upon their deep local roots and collective expertise to bring to life 10.7 acres of land on the island, which is one of the most vital properties in South Florida, situated along Biscayne Bay midway between Downtown Miami and Miami Beach.

The BH3 Management and Merrimac Ventures JV acquired the lease from Mehmet Bayraktar’s Flagstone Property Group who first acquired the rights to develop the land via Miami voters in a city-owned land referendum in 2001. Flagstone Property Group was able to complete the Island Gardens Mega-Yacht Marina but failed to complete the proposed mixed-use development which is set to include hotels and retail. The lease then went through a series of dramas including the City Commission voting to end the lease with Flagstone Property Group who used the city and ultimately the city entered an agreement to pay the developer $20 million.

The transaction between the BH3 Management and Merrimac Ventures JV with Flagstone Property Group was brokered by Alex Zylberglait on behalf of Marcus & Millichap and does not include the Island Gardens Mega-Yacht Marina. The Joint Venture now holds the 75-year lease paying $2 million in annual rent to the City of Miami.

Initial site work at the property, including utility and infrastructure improvements, will soon get underway following the transfer of an existing City of Miami lease to BH3 Management and Merrimac Ventures. In the coming months, the development team will be evaluating how this portion of Watson Island can be designed, curated and programmed to deliver public benefits while aligning with today’s market.

Benefiting from a long track record of bringing signature developments to life, the joint venture has deep experience undertaking transformative projects and creating regional destinations. BH3 Management, led by principals Daniel Lebensohn and Gregory Freedman, has developed more than 4 million square feet of commercial real estate including Privé at Island Estates in Aventura, and has deployed in excess of $2 billion of capital since its inception.

“Watson Island is one of the City of Miami’s most important and well-situated properties, yet it’s also one of its most underutilized assets,” said Greg Freedman, Principal at BH3 Management. “For two decades, Miami residents have been anticipating the creation of a mixed-use development at this site, and now that vision will come together. Our plans for Watson Island will deliver an amenity for nearby residents, as well as a destination for visitors from across South Florida and around the world.”

Merrimac Ventures, led by brothers Nitin and Dev Motwani, is currently developing assets valued above $3 billion and its principals have led some of the largest real estate developments in South Florida, including the $4 billion, 27-acre Miami Worldcenter in Downtown Miami; the Four Seasons Fort Lauderdale Hotel and Residences; Paramount-branded condominiums in Miami and Fort Lauderdale; and the Las Olas Riverfront.

“The development of Watson Island is an opportunity to rethink the way people can access this beautiful site, which offers unobstructed vantage points featuring the Downtown Miami skyline, Biscayne Bay, Museum Park, and the cruise ships at PortMiami,” said Nitin Motwani, Principal at Merrimac Ventures. “Miami is synonymous with the water, and yet there are surprisingly few places where residents and visitors can access the waterfront. Our plans for Watson Island will be centered around public space and the site’s bayfront setting, offering some of the best views in all of Miami.”

Miami voters initially approved plans for the privately-funded development of City-owned land on Watson Island back in 2001, and the lease on the property was most recently modified in 2019. A site plan is already approved, combining hotel, retail, and residential uses alongside new public space and a waterfront promenade. While the plan will be modernized, BH3 Management and Merrimac Ventures intend to develop within the same footprint and density allowances that voters previously approved, ushering in investments in quality-of-life, resiliency, and infrastructure improvements – without putting a burden on taxpayers.

Nation's Largest Women's Shelter 'Lotus House' Breaks Ground On Children's Village In Miami's Overtown Neighborhood With $1 Million Gift From Gisele Bündchen

Lotus House, the nation’s largest women’s shelter, has broken ground on their new Children’s Village that will advance the nonprofit’s mission of ending, and preventing, homelessness. Centered on the educational, wellness, and special needs of children and youth, the five-story facility will expand Lotus House’s reach into the surrounding community, complementing the organization’s 500-bed shelter, Lotus Village, located directly across the street. Features of the new building will include a preschool for children ages three to five, afterschool and summer programs, child and family therapeutic services, access to healthcare and social services, a playground, and a vast array of community resources and programming.

Development of the Children’s Village kicked-off during a groundbreaking ceremony on April 25th at the project site, located at 219 NW 14th Terrace in Miami’s historic Overtown District. Hundreds of neighbors and community stakeholders attended, including Miami-Dade County Mayor Daniella Levine Cava, City of Miami Commission Chair Christine King, City of Miami Commissioner Manolo Reyes, and The Children's Trust of Miami-Dade County President & CEO James Haj.

During the event, Gisele Bündchen, a passionate philanthropist and dedicated advocate for women and children in need, announced $1 million in support for a new playground for the preschool at the Children’s Village, along with educational programming to take place within the facility upon opening.

“Lotus Village was built on the premise that a shelter centered on the acute needs of women and children, complete with trauma informed, evidence-based therapies and holistic programming, could end homelessness. We know this model works, and we know that what makes this model so successful is the generosity of our community, stepping forward time and again to make all that we do possible,” said Lotus House founder Constance Collins. “In the Children’s Village, we are calling on our ‘village’ again, to help our sheltered children and the children of our beloved Overtown community blossom into who they are meant to be. Together, we will take another step forward to end cycles of poverty and homelessness by empowering children and families with enriched educational and therapeutic supports, exciting and diverse programming for kids, and greater access to health and social services. We have launched a $25 Million capital campaign and need everyone’s help, because it takes a village – the Children’s Village.”

Building a solid community for children is so important, especially for those who are vulnerable and in need. Like everything in life, it takes a seed of an idea for something to grow, and I am honored to help Lotus House grow its impact with the creation of the Children’s Village,” said Gisele Bündchen. “Funding the playground for the Children’s Village is important to me because the benefits of play include physical fitness, social interactions, cognitive development, self-confidence, and overall well-being. All these elements build a strong foundation for growth.”

Last month, Lotus Endowment Fund, Inc., the sponsor of the Children’s Village, and its nonprofit subsidiary, Lotus Village II, LLC, closed on $32 million in New Market Tax Credit Financing that will enable the ground-up development of The Children’s Village. Financing for the project was arranged by The Frederick A. DeLuca Foundation, US Bancorp Community Development Corporation, Florida Community Loan Fund, and Enterprise Community Investment, Inc. Construction is expected to last between 15 and 18 months with an aim to open in time for the school year in the fall of 2024.

Since opening its doors with 34 shelter beds in 2006, Lotus House has grown to serve more than 10,000 women, children, and youth. In 2018, the organization debuted the state-of-the-art Lotus Village, which has set national standards for shelter design, operation, and programming. Today, more than 80 percent of the shelter’s guests successfully exit the shelter system following their time at Lotus Village, far exceeding the national average of between 60 and 65 percent.

The Children’s Village will serve as a community hub for nonprofit providers equipped to support children sheltered at Lotus Village along with those from the surrounding community. Partners will include the Overtown Children and Youth Coalition, Legal Services of Greater Miami, Overtown Optimist Club, Urgent Inc., Miami Mindful Kids, Alliance for LGBTQ Youth, Nana’s Restart, Girl Power Rocks, Easterseals, and Lotus Children’s Services, in addition to a coalition of health and wellness providers.

“Lotus House has proven that a holistic support model which brings together various organizations centered around a common goal can end a family’s homelessness and restore the lives and dignity of women, youth and children,” says James Haj, President & CEO of The Children's Trust of Miami-Dade County. “As a funder, we greatly value community collaboration, and the innovative collective impact model in the Children’s Village will broaden the benefits to families by promoting wellness, building confidence among our youth, and ensuring every child has the support they need to live a healthy and fulfilling life.”

The Children’s Village will be made possible by the support of Lotus Endowment Fund, Inc, a non-profit foundation that supports Lotus House and its initiatives. The development will benefit from the continued in-kind support of many volunteers, including general contractor Civic Construction; Behar-Font & Partners architects; engineers M2E Consulting, Inc.; civil engineers Avino & Associates; Savino & Miller Design Studio; Permit Me expediters; and law firm Bilzin Sumberg, where a team of attorneys including John Sumberg, Sara Barli Herald, and Javier Aviñó are spearheading all facets of land use, zoning and permitting, and tax credit financing.

Ugo Colombo's CMC Group Breaks Ground On Ultra-Luxury 'Vita at Grove Isle' in Coconut Grove

One of Miami’s most renowned luxury developers, Ugo Colombo of CMC Group, has broken ground on Vita at Grove Isle, set to be his most sophisticated residential development to date. The ultra-luxe boutique condominium is located on the exclusive Grove Isle, a 20-acre gated private island situated just offshore of the city’s trending Coconut Grove neighborhood. The seven-story development, which is being built on the island’s last remaining waterfront parcel, will feature 65 impeccably designed residences showcasing unobstructed panoramic bay views, exquisite detailing, and the highest quality materials and craftsmanship. Construction of the project is now underway, with an estimated delivery timeframe of 24 to 28 months.

Housing costs in Coconut Grove are surging as the neighborhood becomes the landing spot of choice for new-to-market residents, with prices rising as sales volume diminishes due to a lack of inventory. According to a One Sotheby’s February 2023 Report, average home prices in Coconut Grove were up 32% year over year.

More than 40% of Vita at Grove Isle’s residences have already been pre-sold, with the majority of its buyers hailing from the U.S. Residences will include three-, four-, and four plus den-bedroom units between 2,500 and 6,500 square feet. A collection of twelve exclusive penthouse residences will range from 3,400 to 6,600 square feet each with a private rooftop terrace featuring its own full-size swimming pool, full bathroom, and summer kitchen. Residences start at $5.5 million, with penthouses priced from $12 million.

Every detail of Vita at Grove Isle – from residence floor plan flow and smart home functionality to the selection of fine marbles imported from Italian quarries – has been personally overseen by Ugo Colombo, a native of Milan who possesses an unmatched perspective on timeless luxury and unparalleled quality.

“While the Grove has been a stronghold for single-family-homes, Vita will usher in a new era of high-end condo homes that resemble nearby estates with expansive square footage, refined style and a superior location,” said Ugo Colombo, Founder of CMC Group. “In addition, the project will revitalize Grove Isle to its heyday of being a stronghold for those who want privacy and waterfront elegance while maintaining access to Miami’s nearby city centers.”

Ugo Colombo’s commitment to timeless style, breathtaking luxury and meticulous detail has been a constant in the sea of change that has come to define Miami real estate over the past three decades. In 1993, the Italian developer’s CMC Group began building Bristol Tower, the condo that ignited the luxury residential boom in Miami. Bristol Tower’s success was followed by the launch of Santa Maria in 1996, the 52-story tower whose ‘mansions in the sky’ reshaped the Brickell skyline and put the district on the map as one of the world’s top-tier luxury markets. Since then, the firm has focused on developing only a handful of condominium developments – Porto Vita, Grovenor House, EPIC Hotel & Residences and Brickell Flatiron – all of which have retained their value and compete with pricing of new product on the market today. Onda, located on Miami’s Bay Harbor Islands, recently topped off and is anticipated to be completed later this year.

For the design of Vita at Grove Isle, Ugo Colombo has partnered with global architecture and design firm CallisonRTKL, local architectural firm S & E Architects, and Italian designers Carlo and Paolo Colombo of A++ Architecture to create one-of-a-kind interior and amenity spaces. Composed to showcase a single architectural structure, the three buildings – Mare, Luce, and Sole – will offer a boutique living experience enveloped by lush, native landscaping. The building’s design mirrors its unique Grove Isle location, inspired by the natural contours of the island in its elegant, curved shape while maximizing views of the sparkling Biscayne Bay.

The waterfront sanctuary will feature an extensive and thoughtfully curated collection of indoor and outdoor amenities, including a private residents-only bayfront pool, poolside bar and lounge, a state-of-the-art fitness center, spa and children’s playground. Vita residents will also receive a house membership to the “Vita at Grove Isle Club,” which offers a Club pool and adjacent bar, and additional amenities including lighted tennis, padel ball and pickleball courts. Residents will also be able to enjoy a gourmet restaurant and bar serving lunch, dinner, and cocktails, which will be open to the public, as well as access to the island’s private marina.

The level of planning that has gone into Vita at Grove Isle’s location and amenities is matched only by the detail paid to its design. Every residence will include private elevators with a private foyer; contemporary Italian-designed open concept kitchens with concealed top-of-the-line appliances; elegant bathrooms with custom Italian cabinetry, European designer fixtures, hand-selected book matched marble, and masterfully crafted Italian stonework; at least 10-foot-high ceilings; pre-installed smart home technology including lighting, climate control and water/air filtration systems; high-performance interior wall soundproofing for ultimate relaxation and privacy; and large 13-foot-deep waterfront terraces – and up to 6,000 square feet of private rooftop space in penthouses – allowing for year-round outdoor dining, lounging and entertaining.

Additional resident perks include individually enclosed private car garages designed with provisions for EV charging in addition to 24/7 valet service, convenient bicycle storage, and the utmost advanced technology and WiFi capabilities equipped throughout the building.

Residents will also benefit from Vita at Grove Isle’s personal concierge which will be on-hand to assist with an array of arrangements and services, including dining and entertainment reservations to local attractions, in addition to the Grove Isle restaurant, home provisioning, housekeeping, child and pet care, personal shopping, private events, private drivers and transportation, car detailing, mail collection and forwarding, package deliveries, and more.

Furthermore, Vita at Grove Isle’s digital concierge ‘Vita Linc’ app will grant residents the ability to register guests and provide them with electronic keys, contact property management, privately message residents, check on pending/delivered packages, access appliance manuals and condo docs, and request vehicles from valet.

Grove Isle is one of the most exclusive residential locations in Miami. Spanning 20-acres, the gated private island in Coconut Grove is just minutes away from mainland Miami via the scenic Grove Isle Drive bridge. The secluded community is highly prized by residents as a peaceful haven with panoramic bay views. The island is in close proximity to Miami’s best shopping, most elite schools, chef-driven restaurants, and entertainment destinations in areas such as Brickell, Miami Beach, and Coral Gables and has been described as one of the most affluent neighborhoods in the United States.

Inside PROFILEconnect: The Evolution Of Wynwood From Arts District To Vibrant Global Tech Hub

On Tuesday, April 25th, PROFILEmiami teamed up with Oasis Wynwood, E11EVEN Vodka, Oak Row Equities, Kobi Karp, Torose Equities, Morabito Properties and Brick & Timber Collective to host PROFILEconnect: The Evolution of Wynwood From Arts District to Vibrant Global Tech Hub. PROFILEconnect is PROFILEmiami’s high-end bespoke networking event series, bringing together Miami’s real estate and business leaders for an evening soirée of networking and cocktails, while hearing from the top developers and investors transforming Wynwood into a vibrant, global tech and business hub. Guests enjoyed cocktails by E11EVEN Vodka, and beats by Miami-based DJ DAKAP, sustainable water by KOPU Water, as well as sushi and churros by Sushi OG, Papi Churro and Miss Crispy Rice.

The panel was led by legendary Wynwood-based architect Kobi Karp and featured Erik Rutter, the developer of Oasis Wynwood and The Wynwood Plaza; Scott Sherman, co-developer of The Dorsey Wynwood and an active Wynwood investor; Valerio Morabito, developer of the mixed-use office development Wyncatcher; and Jesse Feldman, Managing Partner of the San Francisco-based Brick & Timber Collective who has invested over $100 million into the Wynwood office market and is a leading tech unicorn and VC landlord. The evening was hosted by PROFILEmiami Co-Founders Demetri Demascus and Katya Demina with Erik Rutter and David Weitz of Oak Row Equities.

The evening was attended by an exclusive group of top real estate industry leaders and executives including Michael Comras, Miguel Pinto, Kobi Karp, Nancy Karp, Jordan Karp, Cullen Mahoney, Scott Sherman, David Eyzenberg, Valerio Morabito, Erik Rutter, David Weitz and Jesse Feldman, amongst others. Guests had the opportunity to network and share their experiences developing and investing in South Florida through thoughtful discourse, while forging new relationships with senior executives.

The event was sponsored by E11EVEN Vodka, KOPU Water, Eyzenberg & Co., Cosentino, Odyssey Retail Advisors, Disruptive Real Estate, Colliers and University of Miami Herbert Business School.

PROFILEconnect brings together Miami’s real estate industry and business professionals to network and connect outside of a business setting and is attended by Miami’s top investors, developers, business professionals, brokers, financiers, architects and designers. Guests had the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders. Stay tuned for more information on the next editions of PROFILEconnect in the works, “Hospitality in Real Estate” and “Branded Residences”.

Why Wynwood?

To escape high rents, many companies are relocating to Class A buildings in Downtown Miami and Wynwood. These buildings accounted for 44% of the entire market’s absorption in the first quarter of 2022. Wynwood has dominated new development in office product over the past two years.

Tenants relocating to these submarkets are looking for buildings with Class A amenities, such as conferencing facilities, fitness centers (with showers), cafés or restaurants and updated finishes in the common areas. Proximity to restaurants and shopping, as well as easy access to Interstate 95, and other lifestyle considerations are also important factors.

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Investment Group Led by David Martin Set To Acquire Former-Miami Herald Development Site For $1.225 Billion

SmartCity Miami LLC, an investment group led by Miami-based Terra and it’s CEO David Martin is set to acquire the former-Miami Herald headquarters development site for a record $1.225 billion from Genting Group. The investment group has finalized terms for the acquisition of the 15.5-acre site which features 800’ of direct frontage on Biscayne Bay, the closing is set to take place later this year. The site which sits on the nexus of Downtown Miami and Edgewater is regarded as one of the largest and most valuable development sites in the United States.

“This is a prized piece of real estate in the heart of one of the world’s most dynamic and fastest-growing cities, and we are honored to have been selected as the property’s next owner. At Terra, we have a long history of enhancing communities and transforming neighborhoods through careful planning, beautiful design, and a focus on connectivity and resiliency. Our development on Biscayne Bay will continue this tradition.” Said David Martin, CEO of Terra Group.

Genting Group announced in March that it had received five bids over $1 billion following a marketing period led by Avison Young’s Florida Capital Markets Group. The largest bid values the property at just under $1.5 billion for the rare Omni District waterfront site. The land is a ±15.5-acre development opportunity which was marketed as BayCity Miami and is currently host annually to ArtMiami and CONTEXT Art Miami during Miami Art Week as ArtMiami’s Art Wynwood show in February. The property was previously occupied by the Miami Herald headquarters which was demolished in 2014.

Located at 1431 N Bayshore Drive in Miami the property features 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. The property has the potential to build a landmark mixed-use office, retail, residential, hospitality, and entertainment destination.

“The scale and location of this site offers the opportunity to do something spectacular, something that all Miamians can the pride in, and we will deliver nothing short of that. For now, our team is focused on understanding the full potential of the property and the surrounding area. Our vision will evolve as we learn more. Over time, we will arrive at a plan that elevates Downtown Miami, improves access to the waterfront and is welcomed by our community.” Said David Martin, CEO of Terra Group.

Genting Group appointed Avison Young’s Florida Capital Markets Group led by Avison Young Principals Michael T. Fay, John K. Crotty, CCIM; David Duckworth, and Vice President Brian C. de la Fé to spearhead the marketing and sale of property. Genting Group, one of the largest resort and entertainment and gaming corporations in the world which operates Resorts World, will remain invested in the Omni area, maintaining ownership of parcels spanning 10 acres west of Biscayne Boulevard.

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.

Terra is a Miami-based real estate development and investment company that creates communities, enhances neighborhoods and connects people. Led by David Martin, Terra was founded in 2001 and is involved in all facets of residential and commercial development, including realty, mortgage, marketing and construction. Terra owns and operates a carefully curated portfolio of real estate developments valued at more than $8 billion that elevate quality of life; maximize the way in which people work, live and entertain; and innovate the urban and suburban landscape with an eye toward resiliency and sustainability. Since its launch, Terra has developed more than 5 million square feet of residential, commercial, and mixed-use projects across South Florida. Current projects include the nearby Major Food Group-programmed ultra-luxury tower The Villa, Mr. C Residences Coconut Grove and Five Park in South Beach.

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.

Riviera Dining Group To Open New Concepts At E11EVEN Hotel & Residences Including Members Only Rooftop

Developers PMG and E11EVEN Partners have signed a 10-year agreement with renewal options with Riviera Dining Group (RDG), the hospitality group behind MILA and Bâoli, to program new concepts at E11EVEN Hotel & Residences Miami, an ultra-luxury, dual-tower development located in Miami’s famed District 11. Located at 20 Northeast 11th St. in the newly expanded entertainment destination, the Miami-based luxury hospitality company’s concepts will occupy a 16,000-square-foot restaurant with a 5,200-square-foot lounge attached to it, and a rooftop members only concept.

“We are thrilled that E11EVEN Hotel & Residences Miami will soon house the next transformative concept by Riviera Dining Group,” said Ryan Shear, managing partner at PMG. “E11EVEN Hotel & Residences prides itself on demonstrating a world-class, over-the-top lifestyle in the heart of Downtown Miami. We are pleased to have Riviera Dining Group’s talented hospitality team join us in bringing that vision to life for our residents and guests.”

Riviera Dining Group is known for operating some of Florida’s most exciting and experiential hospitality concepts including Miami hotspots MILA, MILA Omakase, MILA Lounge, and MM, as well as AVA MediterrAegean and MM in Winter Park, FL. Most recently, RDG acquired operations of BÂOLI Miami, the iconic restaurant and nightlife venue located on Collins Avenue in South Beach. Under the direction of RDG, BÂOLI has reopened with a new menu, elevated ambiance and an updated aesthetic. Its next multi-setting concept, CASA NEOS Miami, is slated to open in Brickell this year.

“We pride ourselves on continuing to be ahead of the curve when creating innovative, sensorial experiences for guests,” said Greg Galy, partner and CEO at Riviera Dining Group. “By partnering with E11EVEN and PMG, we’re able to continue providing guests with memorable experiences while simultaneously adding new venues to our luxurious and rapidly expanding portfolio.”

RDG has an impressive team of partners, chefs, and managers who have worked extensively to elevate the brand to what it is today including 26-Michelin Starred Chef Michaël Michaelidis. At E11EVEN Hotel & Residences, Riviera Dining Group’s restaurant will reside on a second level and offer a ground-floor escalator entrance to guests for direct access. Its upscale lounge and private membership club space will be located on the tower’s rooftop and showcase breathtaking views of the Downtown Miami skyline, Biscayne Bay, and the Atlantic Ocean.

The arrival of these two concepts to E11EVEN Hotel & Residences comes on the heels of the recent expansion of its second tower, E11EVEN Residences Beyond. The developers are purchasing the nearby “Heart” site at 50 Northeast 11th St. to offer additional units for sale and amenity space, which was made possible by an incredibly high demand for these residences and record-breaking sales success across both towers. Among the expanded amenities will be an upper and lower deck now totaling 14,637 square feet and an expanded resort-style 1,638-square-foot pool with private lounge areas.

"Miami's District 11 continues to evolve as the city’s leading entertainment district delivering top-notch dining and innovative nightlife experiences paired with exceptional residences," said Michael Simkins of E11EVEN Partners and co-developer of E11EVEN Hotel & Residences. "The expansion of the incredible property and its commitment to maximizing value for all who call it home is a testament to its idyllic placement within District 11 which will become an entertainment destination in Miami. We look forward to watching E11EVEN Hotel & Residences rise, further solidifying itself as one of the top ultra-luxury residential developments in South Florida."

Centrally located in Downtown Miami’s District 11, E11EVEN Hotel & Residences Miami offers a resort-style, entertainment-driven experience and destination – the first of its kind in the Southeastern United States. Floor plans at both of its towers range from studios to two bedrooms in addition to a presidential collection and penthouse suites. Each unit comes equipped with fully-integrated “smart building” features, Subzero and Wolf appliances, custom ITALKRAFT Italian cabinetry, top-level finishes, and designer-curated furnishings. The soaring 65-story towers will be designed by internationally renowned Sieger Suarez Architects with interiors by award-winning design firm AvroKO.

“E11EVEN Hotel & Residences has a track record of going above and beyond to deliver a coveted, over-the-top vision of luxury for its residents,” said Marc Roberts of E11EVEN Partners and co-developer of E11EVEN Hotel & Residences. “Not only does living at the property place buyers in the middle of District 11’s outstanding live-work-play atmosphere, but it will now provide even more amenity space for residents to truly live out the energy-driven, highly exclusive lifestyle they seek.”

Amenities for E11EVEN Hotel & Residences include a world-class Chopra Spa & Studio, a five-star restaurant collection by Riviera Dining Group, a casino-style sports lounge, a world-class med spa, a rooftop pool and bar, and an E11EVEN day club and pool on the 11th floor. In addition to the first tower's amenities, buyers at E11EVEN Residences Beyond will have ultra-exclusive access to private facilities available only to residents of the second tower and the E11EVEN Beyond Members Social Club. They include a helipad, a signature restaurant, fully staffed executive office suites, and a state-of-the-art fitness center, as well as the expanded decks and pool. The second tower will also feature the recently announced, ultra-premium social club The Clayton.

PROFILEconnect: The Evolution Of Wynwood From Arts District To Vibrant Global Tech Hub

PROFILEmiami and Oak Row Equities are pleased to present the next installment of PROFILEmiami’s highly-anticipated PROFILEconnect bespoke networking event series. PROFILE has teamed up with Oasis Wynwood, Oak Row Equities, Torose Equities and Brick & Timber Collective to host an evening soirée of networking and cocktails, while hearing from the top developers and leaders transforming Wynwood.

Immerse yourself in the pulse of Wynwood at one of the Art Districts’s hottest indoor/ outdoor entertainment venues while enjoying signature cocktails by E11EVEN Vodka and bespoke networking before listening to an engaging panel discussing the evolution of one of Miami’s hottest growing neighborhoods from a vibrant Arts District into a global tech hub.

The relaxed and open setting provides an amazing opportunity to network with Miami’s top industry leaders and market makers, highlighted by Keynote Speakers Erik Rutter, the developer of Oasis Wynwood and The Wynwood Plaza; Scott Sherman, co-developer of The Dorsey Wynwood and an active Wynwood investor; Valerio Morabito, developer of the mixed-use office development Wyncatcher; Jesse Feldman, Managing Partner of the San Francisco-based Brick & Timber Collective who has invested over $100 million into the Wynwood office market and is a leading tech unicorn and VC landlord; moderated by legendary Wynwood-based architect Kobi Karp.

PROFILEconnect brings together Miami’s real estate industry and business professionals to network and connect outside of a business setting. PROFILEconnect is attended by Miami’s top investors, developers, business professionals, brokers, financiers, architects and designers. Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders.

Why Wynwood?

To escape high rents, many companies are relocating to Class A buildings in Downtown Miami and Wynwood. These buildings accounted for 44% of the entire market’s absorption in the first quarter of 2022. Wynwood has dominated new development in office product over the past two years.

Tenants relocating to these submarkets are looking for buildings with Class A amenities, such as conferencing facilities, fitness centers (with showers), cafés or restaurants and updated finishes in the common areas. Proximity to restaurants and shopping, as well as easy access to Interstate 95, and other lifestyle considerations are also important factors.

Space is limited due to venue constraints, so buy your tickets soon before they sell out.

Who Should Attend: Developers, Investors, Brokers, Lenders, Architects, Lawyers, Designers, Wealth Managers, Financial Planners, CPAs and other Business Professionals.

Date: April 25, 2023 | 6 - 9 PM

Where: Oasis Wynwood

Tickets: $125 [Includes admission & top shelf open bar powered by E11EVEN Vodka & Kopu Water]

Panelists:

• Erik Rutter, Managing Partner of Oak Row Equities

• Scott Sherman, Managing Partner of Torose Equities

• Valerio Morabito, CEO of Morabito Properties

• Jesse Feldman, Managing Partner of Brick & Timber Collective

• Moderator: Kobi Karp, Kobi Karp Architecture & Interior Design

SPEAKERS

Moderator:

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Hosts & Sponsors

Hosts:

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EVENT SPONSORSHIP

Would your brand like to generate exposure and connect directly with the attendees at PROFILEconnect? PROFILEmiami provides the opportunity via a selection of Sponsorship Packages. Contact us today to inquire about Sponsorship Opportunities.

You can find more information on event sponsorship here:

Todd Michael Glaser Sells One-Of-A-Kind Worth Avenue Penthouse Atop Tiffany & Co. Building In Palm Beach For $18 Million

Todd Michael Glaser and partners have sold an exclusive two-story penthouse residence sitting atop the iconic Tiffany & Co. building on Palm Beach Island’s Worth Avenue for $18 million. Located at 415 Hibiscus Ave., Palm Beach, FL 33480, the total 13,000-square-foot residence is the largest condominium on Palm Beach Island. Situated at the corner of prestigious Worth Avenue and Hibiscus Avenue, it is the only penthouse in the world atop a Tiffany & Co. building. The private residence building is also a blank canvas, ideal for the luxury buyer who would like to customize every detail.

Jill Eber and Jill Hertzberg of The Jills Zeder Group, affiliated with Coldwell Banker Realty; and Chris Leavitt of Douglas Elliman Realty, LLC, represented the seller, Todd Michael Glaser and partners. Christian Angle Real Estate represented the buyer in this transaction.

Constructed in 2021, the residence is a shell with all plumbing, electrical and HVAC units in the space and is decorator and architect ready to be built out.

The penthouse was developed in 2021 by a JV between Fortress Investment Group, Hyde Retail Partners and Kean Development before selling to Glaser and his partners for $15.5 million in June 2022. The joint venture initially acquired The Tiffany & Co. building was purchased in late 2018 for $20 million before selling the commercial component for $26.4 million in January 2021 to the London-based real estate investment firm Motcomb Estates.

An extraordinary aspect of the residence is the new, private rooftop deck ― the only rooftop of its kind in Palm Beach with a panoramic view of Worth Avenue. Its distinctive exterior spa boasts an infinity edge swimming pool, sunbathing areas, putting green, outdoor bar, dining area and fire pit. The interior rooftop area beckons with a spacious lounge and full bar, billiard area, full bathroom, and gym.

Offering enormous windows and doors maximizing Worth Avenue views and natural light, the residence includes a beautiful principal suite, housekeeper’s room, three fireplaces, state-of-the-art technology, an elevator and much more, within 9,876 square feet of interior space. It may be built out to have five to six bedrooms, seven bathrooms, and one half-bathroom.

The exclusive condo is within walking distance of world-class shops, restaurants, and all the best that Palm Beach has to offer.

Chicago-Based Regency Development Group Launches Kobi Karp-Designed La Maré Bay Harbor Islands

Chicago-based Regency Development Group has launched La Maré, an exclusive collection of two light-filled modern contemporary boutique residential buildings in Bay Harbor Islands. La Maré features the 33-unit Regency Collection and the 9-unit Signature Collection, featuring vertically stacked tropical luxury villas designed by world-renowned architect Kobi Karp, while Brazil-based Debora Aguiar Arquietetos, known for her design of 1 Hotel South Beach among others, leads the interior design. La Maré represents Regency Development Group’s first project in the South Florida market. Groundbreaking is expected for later this year and completion is expected in 2025. Residences will range from $1.375 million to $8 million.

“With recycled materials as the foundation, the design ethos is centered around its honoring natural surroundings - water and its movement – to create an ongoing connection to the environment,” said Kobi Karp. “The positioning of each building on the island is intentionally set to optimize sunlight and natural air flow through each residence, while the glass enwrapped LEED certified spaces accentuate peak sunrise and sunset views.”

“We’re creating sky villas that provide families with expansive living and entertainment spaces right on the water in a pocket of Miami that provides everything families desire, from top dining options to one of the top-ranked schools in Miami-Dade County,” said Michael Troyanovsky, Managing Partner of Regency Development Group. “As a company that is family-run, we value and understand what families are looking for in South Florida.”

The eight-story Regency Collection glass-clad modern boutique building will feature 33 residences. Soft interiors frame the panoramic ocean blues by nine-to-10-foot floor-to-ceiling windows that open out to expansive wraparound outdoor living spaces. The residences with direct private elevator access will range from two bedrooms, two baths to four bedrooms, four and a half baths with 1,600 to more than 4,000 square feet of living space. On the second floor, two prestigious 4,200 square feet Bay Villas adorn the north and south corners featuring spiral staircases that lead down to the ground deck with their own individual pools and summer kitchens. Four penthouses top the building, of which two are flow-through corner residences with access to their own private rooftop pools and summer kitchens.

Exclusive building amenities for the Regency Collection include a state-of-the-art fitness center and residential lounge for group gatherings and screenings.

“I liken La Maré’s Regency Collection to a Harlequin butterfly that opens up in both east and west directions,” said Kobi Karp, founder and principal of Kobi Karp Architects. “This design creates flow-through residences with three glass wraparound windows that bring the outdoors in.”

This eight-story Signature Collection building will feature an exclusive collection of only nine residences thoughtfully designed for families with privacy at the forefront, ranging from 2,100 to more than 4,200 square feet. The top four floors will be comprised of one residence per floor with four bedrooms and four and a half baths. The rest of the building will offer three-bedroom residences and one standout residence will be at the lobby level with private access to the waterfront sundeck.

Exclusive Signature Collection building amenities include a state-of-the-art fitness center, a wine cellar and outdoor kitchen and bar lounge. Residences will range from $2.875 million to $6.3 million. Groundbreaking is planned for later this year and completion is expected in late 2024.

Inspired by the movement of water, The Signature and Regency Collections will offer bayfront verandas and outdoor spaces with landscaping, boat slips, lounge areas and a resort-style rooftop pool deck that will have a pool, jacuzzi and lounge chairs.

Designed to be LEED certified and blend with the neighborhood of Bay Harbor, the low impact all-glass buildings will be constructed on elevated pilings that allow the buildings to be independent of high and low tides to adhere to the everchanging climate of South Florida.

The orientation of the buildings is designed to reduce carbon footprint by minimizing energy loads and maximizing natural sunlight. By incorporating all-glass balcony shadow boxes, its architecture plays with the sunlight to reduce solar gain and maintain a cool temperature throughout the building.

Green rooftops with tree canopies, open green lounge areas and a pool will be built to create a third place for residents to connect and entertain all while doubling as building insulators. The green rooftops will be built on raised wood-like decks made from recycled plastic lifted off the concrete roof to create a natural cooling system, which reduces the use of added material for roof insulation by 70%. Its lush greenery will exclusively feature native species sustained by two-meter irrigation systems that capture and filter rainwater.

Recycled locally sourced materials are married throughout the interiors blending bleached driftwood, travertine, sand-colored natural stones, concrete and metals to create idyllic modern sprawling living areas enhanced by panoramic bay views. Other interior features include private and/or semi-private elevators, elegant custom Italian kitchen and bath fixtures by Antonio Lupi, dual shower and deep soaking tub in primary bathrooms, stone countertops, cabinetry by top-of-the-line luxury Italian brand Poliform and Miele appliances. Additional sustainable features include HEPA filtration systems and in-line heating, Insta-hots, displacing traditional hot water tanks that hold mold overtime.

The Regency Collection La Maré Residences will be located at 9927 E Bay Harbor Drive, Bay Harbor Islands, FL 33154  and the Signature Collection La Maré Residences will be located at 9781 E Bay Harbor Drive, Bay Harbor Islands, FL 33154. The Sales Gallery is at 10301 E Bay Harbor Dr. Bay Harbor Islands, FL 33154.