FIRST ON PROFILE: DAMAC International Submits Revised Sanitation and Service Bay Access Plans For Proposed Surfside Project

DAMAC International, a Dubai-based luxury property developer who purchased the 1.8-acre site at 8777 Collins Avenue in Surfside with plans for an iconic Zaha Hadid Architects-designed 12-story tower, has addressed the concerns of some members of the Champlain Towers memorial committee regarding refuse collection and the building’s service access bay along 88th Street. DAMAC International, led by Hussain Sajwani, has now resubmitted amended plans in accordance with the Town’s new policy.

At the recent Planning & Zoning meeting on August 31st, officials announced new town guidelines stating that refuse would no longer be collected on private property, but would rather be collected on the roadside. This raised concerns from a few memorial committee members of the proximity of the refuse collection point and the building's service bay access to the planned partial road closure of 88th Street to accommodate the memorial park for the Champlain Towers tragedy.

DAMAC International amended the plans with their architect and has relocated the refuse holding area to the building basement and created a pathway that arrives from the basement to the refuse collection point and avoids the use of 88th Street.

A Town Memorandum dated September 12th stated: “The collection point designated will be at the junction of 88th and Collins, and this location will also be used for sanitation personnel staging during the waste collection of both properties abutting 88th Street. The town designated this area to be of low impact on the quality of the area while optimizing sanitation personnel safety.

Additionally, the area will not have an impact on the proposed memorial park as the footprint is adjacent to an existing driveway. The location was coordinated with the proposed 88th Street closure. The sanitation collection schedule for commercial properties is from 7:00 am to 10:00 am. The expected staging for the proposed development is 5 minutes per pick-up day, which is scheduled differently for every property depending on the customer’s needs.”

As part of this review, DAMAC International has also been able to reposition the building’s service access bay further west by 15 feet resulting in more open spaces along 88th Street for the memorial park.

“The change in the Town’s policy allowed us the opportunity to enhance the open spaces available for the memorial park and addressed the sensitivity around this topic,’’ said Niall Mc Loughlin, DAMAC International Senior Vice President of Communications. ‘’We appreciate the opportunity to welcome 8777 Collins Avenue into our property family and do our part as a new member of this great community by using our resources to make an impact on the quality of life for all who live, work, and visit there.”

In August DAMAC Properties responded to misconceptions and misinformation following the July 25th Town of Surfside Special Commission Meeting in order to promote an informed dialogue following PROFILEmiami first revealing the Zaha Hadid-designed proposal in June.

DAMAC Properties and DAMAC International have been at the forefront of the Middle East's luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, as well as the United Kingdom.   

Since then, the company has delivered approximately 46,000 homes. Joining forces with some of the world’s most eminent fashion and lifestyle brands, DAMAC has brought new and exciting living concepts to the market in collaborations that include luxury homes in association with Versace, Cavalli, Just Cavalli, de GRISOGONO, Zuhair Murad, Vincent Faudemer, Paramount Hotels & Resorts, Rotana and Radisson Hotel Group. With a consistent vision and strong momentum, DAMAC Properties is building the next generation of Middle Eastern luxury living.

Renderings via DAMAC International

Brightline Launches Rail Service Connecting Miami to Orlando

Brightline’s passenger rail service between Orlando and Miami has officially commenced with the first train completing the 235 mile journey on September 22, 2023. The first train, Bright Pink, arrived in Orlando at 11:05 a.m. and was greeted by more than 500 elected officials, business leaders, community partners and company leaders from across the state. The celebration put an exclamation point on the boldest private infrastructure project in the nation and marks the revitalization of Henry Flagler’s original vision for the Florida East Coast Railway. A decade in the making, Brightline’s launch is poised to reinvent train travel in America and offers a blueprint to connect city pairs that are too short to fly and too far to drive.

The start of service was celebrated at the Brightline Orlando Station with guests who joined Brightline’s Founder Wes Edens, CEO Mike Reininger and President Patrick Goddard. Upon the train's arrival, Orlando Mayor Buddy Dyer greeted guests on the platform and presented the Key to the City to Edens who was joined by Reininger, Goddard and other Brightline representatives. Officials from the Federal Railroad Administration, the Florida Department of Transportation, Greater Orlando Aviation Authority, Central Florida Expressway Authority and more, were present to greet the first train.

Brightline launched operations in South Florida in 2018, connecting Miami, Fort Lauderdale and West Palm Beach. Stations in Boca Raton and Aventura opened last year. Construction on its 170 mile extension from West Palm Beach to Orlando began in 2019. The $6 billion project has generated substantial economic benefits in Florida creating 10,000 jobs and approximately $6.4 billion in direct economic impact to the region. Construction teams worked more than seven million hours over the course of four years to complete the project.

Brightline covers 235 miles between Miami and Orlando and the new route will take between 3 and 3.5 hours depending on South Florida station stops.

Brightline has quickly become known for its guest experience, innovative station design, spacious lounges and comfortable train sets. Designed by The Rockwell Group, and set with Brightline’s signature yellow, the stations are meticulously built through the lens of today’s modern traveler. All stations and trains are packed with amenities including Starlink Wifi, chargers and outlets at every seat, and a selection of food, beverage and cocktails available for purchase for SMART and complimentary for PREMIUM. Guests can enjoy a wide selection of light bites, beverages and cocktails throughout the day at one of Brightline’s signature in-station Mary Mary Bars or pick up last-minute gifts, sundries and refreshments at one of the MRKT shopping retail locations.

The new Brightline Orlando Station in partnership with Orlando Health, is located at MCO’s 37,350 square foot Train Station adjacent to its new Terminal C. This is the only intercity passenger rail station of its kind to be located in a U.S. airport and stands three-stories tall, including a 72,000 square feet platform area, making it the company’s largest train station. The Train Station connects directly to the airport’s Parking Garage C, which will have more than 350 parking spaces marked for Brightline guests. The Train Station provides direct access to the other airport terminals A and B via the airport Terminal Link (automated people mover) in under five minutes.

MiamiCentral is strategically located on an 11-acre complex in downtown Miami and represents Brightline’s southern flagship terminus. MiamiCentral is a unique live-work-play destination featuring luxury rental residences, commercial offices and dynamic retail and entertainment space. Guest’s looking to connect have a number of options including Brightline+, the Miami Metromover and Metrorail which are both connected to the station.

Brightline trainsets were made in partnership with Siemens Mobility in Sacramento, Calif. The stainless-steel coaches are made with components from more than 160 suppliers across 27 states. They are designed for luxury and comfort, featuring special ergonomic seating, contemporary communication systems and enhanced Wi-Fi. Thanks to wide aisles, wheelchair storage and fully accessible restrooms, the Venture trainset exceeds ADA requirements from end to end.

Brightline’s Orlando extension showcases engineering skill, cutting edge technology and design to create a transportation system that redefines intercity travel.

The Orlando expansion project included 56 bridges, including 18 new bridges, three underpasses, drainage installations, track and signalization installation and 60 track miles of new rail. Over the four years of construction, upgrades and improvements were made to three underpasses and 156 railroad crossings. Engineering of double track under active airport taxiways and tug roads and a new 35-mile rail alignment along the Beachline Expressway/SR 528, were also made.

The expansion to Orlando also included the development of Basecamp, a $100 million state-of-the-art train maintenance facility situated on 62-acres south of Orlando International Airport (MCO). The facility operates 24/7, servicing trains with skilled engineers, conductors, technicians and inspectors.

Brightline’s phase I and II construction along with the launch of service have and will have an indelible impact on the state's economy. Independent studies show the combination of construction and operations will generate more than 10,000 jobs, 2,000 permanent jobs and over $6.4 billion in direct economic impact to the state. The system is expected to have a major impact on Florida’s travel and workforce industries while bringing a sustainable transportation alternative. Environmental benefits are equally impressive and include reduced highway and city congestion and CO2 emissions by an estimated 72,000 metric tons per year. Studies show the system will remove more than three million cars from roadways each year.

In 2022, Brightline launched a concierge service to connect guests to and from stations with Brightline+. The mobility service, powered by the Brightline app, makes planning a trip with Brightline from start to finish seamless through its add-on options available within the booking platform. Ground transportation and mobility options at the Orlando Station will cater to the unique needs of the Orlando visitor with new Brightline+ products including MEARS shuttles, Uber rideshare and car rental options through Avis. Upon booking a Brightline ticket, guests will receive confirmation email and instructions on how to add extras, such as parking, checked baggage, and Brightline+ mobility options available closer to their trip date.

Brightline recently unveiled a new digital experience for guests featuring a redesigned website and native mobile app available for iOS and Android devices. The enhanced guest journey is driven by a cutting-edge backend system, modern and intuitive design, and multiple additional upgraded features. Introduced ahead of expanded service connecting Miami and Orlando, the new digital journey transforms the booking process into a fast, dependable and frictionless system.

Images via Brightline

Finvarb Group's Rudy Ricciotti-Designed Thompson Hotel South Beach Nearing Completion

Construction is nearing completion at Thompson Hotel South Beach which is being developed by Finvarb Group, led by Ronny Finvarb, and Chahine Investment Corp. Glass has been installed at the architectural masterpiece by world-renowned French architect Rudy Ricciotti, its iconic wave design is already making a statement in Miami Beach. The Thompson Hotel South Beach is set to transform the nexus of Washington Ave. and 17th St., with close proximity to the beach, Lincoln Road, The Miami Beach Convention Center and Collins Avenue.

The mixed-use project is being developed on a .7 acre site at 1685 Washington Ave. When complete the building will feature a 150-room hotel which will be branded as a Thompson Hotel by Hyatt, with a rooftop restaurant and pool deck, as well as ground-floor retail. Ortega is the general contractor.

In addition to the Thompson and other projects in different stages, Finvarb Group owns 13 hotels and restaurants in Florida, Texas and Arizona, including the Kimpton Palomar South Beach and Osteria Morini, the Residence Inn by Marriott South Beach, and the Courtyard by Marriott South Beach, which they developed. Finvarb Group also recently acquired the iconic Macy’s South Beach, the Landon Bay Harbor, including The Palm restaurant, and an assemblage in Deerfield Beach, including JB’s on the Beach, among others.

Chahine Investment Corp. is a family office subsidiary managed by Agathe Chahine that focuses its investments on office buildings, luxury hotels with the historic Palacio Ludovice in Lisbon that just opened, private equity, and financial markets.

Lefferts Tops Off 72 Miami Beach Short-Term Rental Luxury Condo '72 Park'

Lefferts, a NYC and Miami-based real estate development firm, has topped off of its new luxury Miami Beach condominium, 72 Park, on Wednesday, September 13. Slated for completion in summer 2024, the 22-story project designed by national architecture firm Built Form with interiors and landscapes designed by Urban Robots Associates, will be the first new luxury tower on Miami Beach to permit short-term rentals.

Located at 580 72nd St., 72 Park will offer 206 units ranging from 470 to 1,177 square feet. Cervera Real Estate is the exclusive sales team, with available inventory starting at the $700,000s. Cervera Real Estate is the exclusive sales and marketing partner for 72 Park. The luxury mixed-use condominium will also offer 10,000 square feet of prime, ground-floor retail space, with tenants including New York Staple Roberta’s, a Michelin Bib Gourmand restaurant from co-founder Brandon Hoy and two-Michelin-starred chef and co-founder Carlo Mirarchi.

Located ust south of Surfside, the stunning 22-story project by national architecture firm Built Form is centrally located within a pedestrian-friendly neighborhood where residents and guests can enjoy the best of both worlds: a peaceful, charming beachside community alongside the excitement of Miami Beach with instant access to recreation, restaurants, retail, music, arts and culture. When complete, the luxury tower will offer residents spectacular 360-degree views extending from the Atlantic Ocean to the Intracoastal Waterway, including Downtown Miami.

The luxury condominium is conveniently located on the park, just steps away from the beach, the Miami Beach Tennis Academy; North Shore Park, a sprawling indoor and outdoor sports and recreation complex featuring 12 tennis courts, pickleball and two baseball fields; the Miami Beach Bandshell outdoor amphitheater; a historic cultural center; Normandy Shores Golf Club; and the new Miami Beach Aquatic Center and Park, which will house an Olympic-size pool, a community library, a fitness center, a three-acre park and 10,000 square feet of retail. Beach service is provided for residents, including transportation and complimentary use of recreational equipment such as Boogie Boards, paddleboards, bikes and more.

Residents will have access to 64,000 square feet of luxurious amenities for residents, including an expansive 35,000-square-foot amenity deck with nearly an acre of lush, tropical landscaping; a 150-foot-long resort-style pool with cabanas; a bar and lounge with indoor-outdoor seating; a state-of-the-art fitness center with yoga lounge; 24/7 coworking lounge with private “pods”; kids playroom; private outdoor barbecue area; a private rooftop featuring a sun deck with dining areas and grills; and an outdoor screening area for movie nights and sporting events.

Other building features include a double-height lobby with wrap-around floor-to-ceiling windows showcasing 8,500 square feet of prime, ground-floor retail space, including the forthcoming Roberta’s restaurant and pizzeria by two-Michelin-starred chef Carlo Mirarchi.

The project at 72 Park is one of four residential developments Lefferts is spearheading as part of its long-term commitment to revitalizing this Miami Beach neighborhood and ushering in a new era of investment and growth for one of the most desirable oceanfront communities. The firm is applying its more than 20 years of residential and commercial real estate expertise to revitalize the heart of Miami Beach, located just south of Bal Harbour and Surfside and north of the iconic Fontainebleau Miami Beach. The pedestrian-friendly neighborhood is within walking distance of the beach and features Miami Modernist (MiMo) architecture and ample green space, including North Shore Open Space Park, the largest park in Miami Beach, which recently underwent a multimillion-dollar renovation.

St. Regis Residences Miami Reveals New Renderings and Ultra-Luxury Sales Gallery

The St. Regis Residences Miami (The Residences) has revealed new renderings and images of its newly unveiled ultra-luxury sales gallery. Located within the prestigious South Brickell neighborhood, The Residences is set to rise 50-stories on South Brickell’s waterfront, offering a bespoke experience synonymous with the St. Regis brand.

Developed by Related Group and Integra Investments, every inch of the tower is being painstakingly curated and manicured, designed by a visionary team, with architecture by the esteemed Robert A.M. Stern Architects (RAMSA) and interiors by the renowned Rockwell Group. The Residences marks RAMSA's first residential development in South Florida, showcasing their modern classicism style inspired by the elegance of golden-age ocean liners at sea. Each of the 152 residences offers panoramic water views, access to world-class amenities and services including over 50,000 square feet of indoor and outdoor amenities.

Residences will range from two to six bedrooms with lavish finishes throughout. The grand floor plans include private elevators and entry foyers, as well as oversized walk-in closets, spa-like bathrooms and more. Kitchens are equipped with top-of-the-line Sub-Zero and Wolf appliances, custom Italian cabinetry designed by Rockwell Group, and imported natural stone countertops and backsplashes. Each residence will also showcase panoramic views of Biscayne Bay and the glittering Brickell skyline.

Amenities include a fine-dining restaurant by Michelin-starred chef Fabio Trabocchi; a professional-grade fitness center with a pilates and yoga studio; a new, full-size pickleball court; a world-class spa and holistic wellness center; an indoor lap pool; and the iconic St. Regis Tea Room.

Park-like grounds surround the building with lush landscaping designed by the acclaimed Swiss design firm, Enea Garden Design. Signature butler services complete the lifestyle experience, including services such as deliveries to residences, an on-premises house car, shoeshine service and other personal arrangements.

The Residences’ recently opened sales gallery provides a glimpse into the elevated lifestyle that awaits the future residents of this prestigious address. A lavishly appointed model residence showcases the actual offerings home owners will find inside their units, including a spacious bedroom, oversized walk-in closet, modern living room, luxurious bathroom with dual sinks, and a waterfront terrace.

Images via Related Group

Oak Row Equities and L&L Holding Company Top Off 'The Wynwood Plaza' One Million SF Mixed-Use Campus

L&L Holding Company and Oak Row Equities, along with project partner Shorenstein Properties and co-investor Claure Group, have topped out the 12-story boutique office tower at The Wynwood Plaza, a 1 million-square-foot mixed-use campus under construction in Miami’s vibrant Wynwood Arts District. The development will be defined by a half-acre, lushly landscaped public plaza by urban design practice James Corner Field Operations.

In addition to the 266,000-square-foot, Class AAA state-of-the art office tower designed by renowned architectural firm Gensler, The Wynwood Plaza will encompass a residential building featuring 509 high-end rental apartments, indoor and outdoor shops, cafes and restaurants. The office tower places a premium on occupant health and wellness with a center core and efficient floor plates, column-free spaces with private tenant terraces and floor-to-ceiling windows for abundant natural light. Located at 95 NW 29th Street, The Wynwood Plaza is slated for completion in the first quarter of 2025. The spectacular outdoor plaza will be the largest in the Wynwood Arts District and one of the largest in all of Miami.

Prominent investment firm Claure Group, led by Marcelo Claure, will establish its 25,400-square-foot headquarters across the entire eighth floor. Additionally, acclaimed national law firm Weitz & Luxenberg will open its first Miami office with 18,000 square feet across the second floor. Moss is currently constructing the superstructure with subcontractor Tekton.

“This important milestone is a testament to the collective vision, extensive abilities, and unwavering commitment of our team and partners,” said David Levinson and Robert Lapidus of L&L Holding Company. “As the only new office tower delivering in Miami in early 2025, The Wynwood Plaza will see high demand from a variety of leading companies that value creativity, collaboration and productivity.”

“The rapid rise of this Class AAA office tower - and the pace and quality of construction at The Wynwood Plaza overall - showcases the leadership and efficiency of all collaborators involved with this exceptional mixed-use development,” said Erik Rutter and David Weitz of Oak Row Equities. “The caliber of tenants already committed showcase the tower's superiority in the marketplace and top-tier firms from a diverse range of industries demanding high quality design and an array of amenities from the center of Wynwood will follow suit for an incredible tenant mix.”

Office tenants will have access to an array of indoor and outdoor amenities at the tower, including a fitness club, cafe and bar lounge, conference and collaboration spaces, and expansive rooftop. The tower will also feature best-in-class air filtration, touchless entry and elevator systems, as well as rapid connectivity and a dedicated parking garage.

Construction is progressing steadily at The Wynwood Plaza’s rental apartments, which will feature 8’-6” to 10’-6” tall windows, state-of-the-art appliances, stunning finishes and flexible layouts. An expansive amenity package will include four activated rooftops with a sports court, two outdoor pools with showers, a sauna, hot tub and cold plunge pool and a glass atrium with co-working spaces, private phone rooms and a game lounge. Residents will also enjoy a modern fitness center with top-of-the-line equipment and dedicated areas for yoga and much more.

The Wynwood Plaza will include 32,000 square feet of retail, including 6,600 square feet of outdoor dining. An eclectic mix of lifestyle boutiques, curated storefronts, convenience locations and fast casual spots are envisioned for the campus. Situated on a main pedestrian thoroughfare, the airy, stylish spaces will feature full glass storefronts with the opportunity for impactful exterior signage.

Images via Shootin | Renderings via Gensler

PROFILE Exclusive: 12 Questions With Simon Mass of The Condo Store

PROFILEMiami had the exclusive opportunity to sit down with Simon S. Mass, CEO and Founder of The Condo Store (TCS). Simon is often recognized as the “architect” of the pre-construction condo investment sector in Canada, with over $25 billion in project transactions and a distinguished reputation that spans across North America. The Condo Store, which now hosts over fifty team members and more than 350 sophisticated high-net-worth clients from around the globe, started as a ten-person boutique firm he co-founded in 2004. Simon and TCS recently launched operations in Miami.

Simon has long-term relationships with hundreds of clients that include doctors, medical practitioners, and business professionals across Canada and now the United States. TCS clients account for over $500 million in annual investments.

It is common knowledge that condo investments have been one of the highest grossing asset classes over the past 25 years. These high-level personal connections allow TCS clients to have an advantage in the sector and ensures investing into a real estate project is targeted and knowledge based.

PROFILEmiami recently caught up with Simon amid his busy schedule managing TCS’s launch in Miami and developing Casa B&B Italia, a new construction luxury private residence on Miami’s Venetian Islands designed by Doo Architecture and winner of the 2020 Interior Design Magazine Best of Year for Residential Unbuilt Category and the 2019 Rethinking the Future Awards for Private Residential Concept:

PROFILE: Tell us about your background, how did you get involved in real estate?

Simon Mass: Purely by chance. I left the United Kingdom after graduating with an Engineering and Management undergraduate degree from Bath University to enroll into an MBA program at Schulich School of Business in Toronto, Canada. The idea was to graduate with an MBA, complete the marketing speciality, and enter the world of business back in London, UK. Honestly, at that time, I didn’t have a specific career path in mind and was open to finding that path organically and with no urgency, just like any other typical 21-year-old.

Real estate wasn’t on the agenda for me in terms of a business environment. I had a definite and keen interest in architecture and interior design but that was really for my own personal and vivid imagination. I was always thinking about and looking at real estate publications wondering what appealed to me and what I thought I’d like to own someday for my home.

PROFILE: How did you first get involved investing in pre-construction condominiums?

SM: While adjusting to the colder climate and heavy snowfall that are part of the winter season in most of Canada, I got lost in a snowstorm trying to find the University campus and stumbled upon a trailer that housed the sales center for a pre-construction development. Before I knew it, I had the real estate bug and fell into the pre-construction investment world.

The minute I realized that I could enjoy my time at work, make a living and grow a business and not be working for someone else, I knew that I should take extra care in understanding and utilizing the pre-construction investment model and not just look at it as a small-time side hustle while still trying to discover my calling. Without looking back, I quickly decided to make it my calling and decided to bring in many friends and family for the ride that proved to be a small steppingstone to growing the wealth of so many people around me that followed the same path. As the saying goes, the ‘snowball effect’ kicked in and people were contacting me and saying they had heard that I had insider deals with pre-construction developers, and they wanted to be given the same opportunity to make a lot of money and invest in a bricks and mortar opportunity versus risking their hard-earned money in the speculative stock market.

PROFILE: What was your first real estate deal that you worked on?

SM: This dates to the mid 1990’s and was a catalyst to my eventual decision to stay in Toronto and slowly set up the first business model for TCS. Shortly after the snowstorm incident, with just a handful of friends and classmates, I managed to secure a small number of units in a master planned community in downtown Toronto. I believe it was just twenty units, which at that time was substantial considering the average broker in the mid-1990’s handled ten transactions per year. This first foray into bulk transactions allowed me to establish a relationship with the head of the sales and marketing division at the multi-billion-dollar development (which now spans several city blocks and has over 22 towers).

It became apparent right after this 20-unit bulk deal that prices were increasing at a substantial rate and that if I was able to convince developers to reduce the down payment requirement for my firm and keep the normal, much higher rate for the brokerage and general public, I would be able to skew the ROI’s (cash-on-cash returns) for our ventures to levels that would not be conceivable to most investors. This first project had multiple other phases and the initial phase sold out within a few weeks, therefore giving me the confidence that pricing for future phases would be much higher.

PROFILE: What is your investment philosophy in regard to investing in pre-construction condominiums?

SM: Our success has been derived in large part by working with the best and most powerful developers, focusing on gentrification locations, and staying in it for the long-term. With respect to growing the business, we have been almost entirely referral based as we are not an advertiser of any kind, and we do not even show our offers to the general public. Our clients appreciate that exclusivity and reward us by continuing to purchase and invest through our firm recognizing the returns that they have recorded over the years.

PROFILE: Tell us about The Condo Store and what you guys do?

SM: Extremely important to note that 90% of our clients are doctors and surgeons. From day one, I have had a connection to medical professionals as they were my friends who had also recently graduated and entered the work force in Toronto. I always felt somewhat guilty that I graduated with both an undergrade and postgraduate degree in under five years whereas my friends who decided to go into the medical sector would only enter the work force after 9-12 years of schooling alongside a massive debt. It didn’t seem fair, and I wanted to specifically bring them in; in a way that they would be financially rewarded through real estate investing through my direct involvement.

TCS partners with developers to secure a large number of units in a new pre-construction building; in high density projects, we seek a minimum of 25% of the entire inventory, and in low density buildings, we can go as high as 100% of the inventory. Once we have secured the project with special terms (highlighted by a low-down payment structure) through educating developers and their financial lenders that it’s safer to have pre-construction buyers to have six to seven figure salaries and secure earnings (i.e., doctors) with career paths that were practically guaranteed until retirement age, over every other demographic. We keep it simple in terms of presentation materials, doctors are far too busy for long investment decks. We present the opportunity to our clients in real time, with no favoritism or special treatment on a first-come, first-served basis.

We curate only the best investments for our clients, and if that means we do not have an offer for a few months or even a full year, then that is what we will do. We will not risk our reputation to send a ‘just OK’ investment deal to our loyal clients.

The core tenet that has built our referral-based business is having skin in the game. What that means is that for every offer we put in front of our clients, we (myself and business partner, John Mehlenbacher) invest in multiple units in each deal. We invest alongside our clients and that is what differentiates us from almost everyone in the space.

PROFILE: What have been some of the keys to TCS producing consistent, successful returns for your investors?

SM: Quality and time. We hand pick three or four of the best sites annually (out of 150+ launches) and develop them into lucrative leverage-based deals; we don’t deviate from the fundamentals of a solid investment and never chase a deal.

We are not just a real estate company; we are an investment company that specializes in real estate. Keeping true to our principles, where we invest side-by-side with our clients, we ultimately offer that rare quality of being in every deal that we present. With that, we do not pump out offer after offer every other week and we are not willing to sell run-of-the-mill projects that, in our opinion, won’t allow for significant double digit returns to our clients.

PROFILE: You are now opening in Miami, can you discuss your expansion to South Florida?

SM: We have seen many of our doctor clients leave Canada for the United States. They asked for our assistance, and we also understand the magnitude of the U.S. market as it’s ten times larger than Canada population wise, and that allows us to work with millions of doctors all living, working, and seeking investments in Miami.

With our track record amongst their peers, we feel that we can grow our referral-based business within the medical practitioner space at a level that will over time be two or three times the size of our Canadian operations.

Over the years we have been able to understand the needs and wants of our core clients, and we can bring that outlook and experience to an entirely different market. We’ll bring the fundamentals of what a great real estate investment is and push to create the same deals and opportunities in Miami that we are known for in Toronto.

PROFILE: What is your outlook on the real estate market in Miami amid a changing economic environment and rising interest rates?

SM: Miami has unique characteristics that can influence its real estate market, so it goes without saying that I am very bullish on real estate investing in the right locations across Florida.

With a dynamic tourism sector that keeps on growing, and foreign investments that is now super-charged with an aggressive domestic immigration push from American citizens changing their residence to Florida and moving here and making it their home, there is so much positive news for the sunshine state.

Miami's real estate market is for the time being only minimally being influenced by a changing economic environment and rising interest rates. Looking to the future, I believe that we have yet to see the actual real estate boom that Miami (or generally Florida) has been chronicled to have been in for years. The next 10 years will most likely see massive price appreciation that will make this city even more expensive on many levels.

PROFILE: What is the biggest hurdle that you have had to overcome in your career?

SM: I’ve been very fortunate and would be the first to call myself a workaholic since a very early age. There’s a fundamental reason for my success as I’ve had the advantage of loving what I do and as such, not counting down the hours each day to end my work schedule and start on my social calendar.

I’ve overcome the hurdle of listening to all the noise in the market by keeping my mind open. Information is power, so listening to everyone but not being influenced by everyone is the challenge. For example, taking in information from so-called ‘institutional experts’ but not being bound to call it solid. Especially from those ‘experts’ who in my humble opinion are so often wrong when it comes to the real estate market, and it’s future.

I have also found that economists, for the most part, always have a skewed perspective on the value proposition of the real estate space and tend to downplay the psychological consumer mindset when it comes to property ownership.

I have been lucky that my gut feelings combined with analyzing the economic fundamentals have typically played out well; and let’s not forget that Toronto has been on a 32 year real estate growth run. That has obviously helped in our firm’s double digit, cash-on-cash, annual returns.

PROFILE: What was the first gift you bought yourself after closing a big deal or first big development?

SM: Very cliché…I walked into a Porsche dealership and an hour later, drove out in a 911. Since I was a small child, I was always in love with sports cars, so I was fortunate enough to start with a 911 in my early twenties with money that I had made from my own hard work and risk-taking tactics.

I still treat myself after every single venture as I believe that to stay motivated, an entrepreneur needs to be self-incentivized. I will add a charitable donation to my self gift-giving ritual as I feel it’s imperative that we realize how fortunate we are and to give back, even if it’s a small donation. It’s a lifestyle necessity, in my mind, to count your blessings and pay it forward.

PROFILE: Describe your perfect Saturday night in Miami?

SM: So, it all depends on who the other friends or clients are, sometimes it’s a chill evening at one of my favorite restaurants in SoFi, for example, Call me Gaby where the ambiance of European dining in a unpretentious space is always inviting. Sometimes it’s a longer evening of cocktails and fine dining at one of the many restaurants that have opened in Miami (that have outposts all across the world), such as LPM, The Surf Club or Carbone.

I’ve never been a big drinker and prefer a good dinner over a few bottles of wine. Makes my Sunday mornings a lot more efficient and painless.

PROFILE: Where do we find you on your day off?

SM: If you ask anyone that knows me well, they will tell you that I need a day off.

I’m always “on” because I enjoy what I do, as making money for your friends and clients is beyond rewarding. Deal making is a undertaking that I’m very-very passionate about. I take my role in building wealth for clients very seriously – and that’s one of the main reasons that TCS is known as the largest pre-construction investment firm in Canada built on a referral network that keeps on growing.

PROFILEconnect: State of the Market Miami 2023 Presented by The Lighting Studio

On September 21 PROFILEmiami is set to host our largest event yet as the next installment of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series will delve into the 'State of the Market Miami 2023 Presented by The Lighting Studio’. The experience will feature two panels featuring some of the biggest players in Miami’s real estate industry as they discuss the state of Miami’s commercial and residential real estate markets, matched with a trendy evening soirée of bespoke networking and cocktails.

Immerse yourself in Wynwood’s high-energy atmosphere at the luxurious Eclectic Elements Showroom for bespoke networking and cocktails highlighted by two engaging panels exploring the ‘Residential State of the Market’ & ‘CRE State of the Market’. The relaxed and open PROFILEconnect setting provides an amazing opportunity to network with Miami’s top industry leaders and market makers, continuing post-panel with cocktails by E11EVEN Vodka and sounds by local Miami-based DJ DAKAP.

The ‘Residential State of the Market’ Panel will explore pricing and availability across South Florida, luxury real markets, new developments, where are the buyers coming from, factors impacting pricing and demand, mortgages and future market outlook. Highlighted panelists include Edgardo Defortuna of Fortune International Group, the developer of St. Regis Residences, Sunny Isles Beach; Gil Dezer, the developer behind Bentley Residences Miami and Porsche Design Tower; Jay Phillip Parker, CEO of Douglas Elliman FL; Daniel de la Vega of ONE Sotheby’s International Realty; Nelson Stabile, Principal of Integra Investments and co-developer of St. Regis Residences, Miami; moderated by Simon Mass of The Condo Store.

The ‘CRE State of the Market Panel’ will offer an immersive discussion exploring current commercial real estate markets, which asset classes are poised for growth, entertainment & hospitality, capital markets and how are they impacting commercial real estate prices and future market outlooks for multifamily, office, retail, hospitality and industrial real estate. Highlighted panelists include hotelier Ronny Finvarb, commercial real estate investor Robert Rivani, hotel developer Alex Witkoff, multifamily developer Lisette Calderon of Neology Life, Scott Wadler of Berkadia, and legendary 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.

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

Thank you to our sponsors:

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

Date: September 21, 2023

Where: Eclectic Elements Wynwood Showroom 51 NE 24th St. Suite 103, Miami FL 33137

Time: 5 PM - 9 PM

Tickets: $150

Panelists (Residential):

• Edgardo Defortuna, CEO, Fortune International Group

• Gil Dezer, Dezer Development

• Jay Phillip Parker, CEO, Douglas Elliman Florida & Douglas Elliman Development Marketing

• Daniel de la Vega, ONE Sotheby’s International Realty

• Nelson Stabile, Integra Investments

• Moderated by Simon Mass, The Condo Store

Panelists (Commercial):

• Ronny Finvarb, Principal, Finvarb Group

• Robert Rivani, Black Lion Investment Group

• Lisette Calderon, Neology Life

• Scott Wadler, Berkadia

• Alex Witkoff, Witkoff

• Moderated by Kobi Karp, KKAID

Schedule:

• 5 PM - 5:45 PM: Cocktails & Networking w/ sound by DAKAP

• 5:45 PM - 6:45 PM: ‘Residential State of the Market 2023 Panel’

• 6:45 PM - 7 PM: Break

• 7 PM - 8 PM: ‘CRE State of the Market 2023 Panel’

• 8 - 9 PM: Cocktails & Networking w/ sounds by DAKAP

Sponsors

Partners

Platinum Sponsors

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Sponsor Event

Cervera Real Estate Hosts Agent Event at LOFTY Brickell YUPIX Experience in Wynwood

A distinguished group of about 35 Miami real estate agents gathered for an afternoon of networking and knowledge sharing at the YUPIX headquarters in Miami’s Wynwood district. The agents experienced meta-reality tours of LOFTY Brickell, the most elevated offering in Newgard Development Group’s flexible ownership concept.

Cervera Real Estate hosted the private event held on Aug. 30. A handful of speakers shared their secrets for creating more listings, best practices in pre-construction sales strategies and ways to achieve more consistent closings. Cervera agent Dali Hernandez gave a presentation on LOFTY Brickell, Newgard’s 44-story luxury condominium project under development on the Miami River. Cervera is the project’s exclusive sales and marketing representative.

The attending agents also had a chance to experience the meta-reality tour of LOFTY, utilizing technology developed by YUPIX. The technology was designed to give prospective buyers an immersive feel for the finished product. Several buyers have credited the tours for confirming their decision to purchase a unit in the building.

“Buyers are increasingly becoming more discerning when deciding between residential projects,” said Hernandez, a member of the LOFTY sales team. “Having the ability to take someone inside a luxury building long before it is completed creates a competitive edge.”

Designed by Arquitectonica, the 362-unit LOFTY Brickell is 92% sold, with only a handful of penthouse residences available for purchase. The Signature Penthouse Collection offers spacious two, three and three-bedroom plus den units that will be curated and furnished by revered design firm Artefacto. Starting at $2 million, they represent the best value in penthouse homes in the Brickell submarket.

Located across from Brickell City Centre, LOFTY is the next evolution of condominium ownership. It brings a 5-star alternative for the owner and traveler who prefers to stay and own differently – yet does not want to compromise on hotel services and amenities. Each residence will be delivered fully finished and furnished and, with professional management, will permit short-term rentals.

PROFILE Exclusive: 12 Questions With Developer James Curnin Of Clara Bay Harbor

PROFILEmiami had the exclusive opportunity to sit down with James Curnin of Clara Homes, a Miami-based, vertically integrated real estate firm, to discuss how he has found success developing and expanding his brand in the Miami market following an accomplished start to his career developing luxury residential properties in Los Angeles. Founded in 2014 by James, Clara Homes offers residential and commercial development, operations oversight and custom homes.

With work spanning South Florida to Los Angeles, the Clara Homes has collaborated with some of the industry’s most innovative architecture firms, including Vertoch Design Architects, McClean Design and Strang Design, to differentiate its portfolio from others in the market. Currently in the pipeline are three waterfront spec homes, three privately owned custom homes, as well as a 150-unit, three-building rental development in Bay Harbor Islands named Clara Bay Harbor which broke ground in March 2023.

Recent completed projects include a single family spec home project, a Modern Farmhouse located at 6341 Allison Road on Allison Island, which sold for $13,875,000, as well as 416 W San Marino Drive which is currently pending for $29 million. Curnin also delivered a project on Sunset Island II and other homes on Miami Beach. Homes currently under construction include properties on La Gorce Circle, Davis Road and Pinetree Dr Circle. PROFILEmiami recently caught up with James following his site approval for the third building as part of his Clara Bay Harbor development to see how he has taken the Miami market by storm:

PROFILEmiami: Tell us about your background, how did you get involved in real estate?

James Curnin: I was always drawn to real estate. My great grandfather had an impressive portfolio of buildings around New York City, and I grew up knowing that one day, I would follow in his footsteps. When I was finally old enough to start working for the family business, I was 14. It was hard work, but it solidified what I already knew to be true: I would grow up to be a real estate developer. My great grandfather’s company gave me my start. I contributed to major tri-state area projects such as Parker Meridien Hotels, Parker Towers and Parker Plaza. After some time, I decided to leave New York City and start my own legacy. In 2014, I founded Clara Homes, starting in Los Angeles. Great weather, a favorable business landscape and the promise of opportunity brought me to Miami. Here in South Florida I’ve grown Clara Homes into a vertically integrated real estate firm offering residential and commercial development, operations oversight and custom homes.

PROFILE: What was your first real estate development project?

JC: A single-family home in the bird streets of Los Angeles.

PROFILE: What is your development philosophy?

JC: Chase every penny, as frequently told to me by my great-grandfather when I was just getting started in the business.

PROFILE: You have built a name for yourself in Miami developing Spec Homes, can you tell us about your past projects? Are you currently working on any?

JC: I got my start in Miami building and selling spec homes, and it’s been an incredible journey. Just as the pandemic was setting in, we were completing four residences throughout the city. It was a time when everyone was in quarantine looking for more space, warm weather and private outdoor access, so we were able to quickly sell the listings and rapidly grow a good reputation for our use of quality materials and thoughtful design. Ever since, buyers have come to recognize our work and trust that we strive for perfection. We collaborate with the best architects in the area to design modern, tropical homes that truly suit the needs of families today, and people have even started coming to us for help to build their own custom homes. Currently, we’re finishing construction on three new spec home projects. I’m excited to report that all of them are now under contract. We will close when the homes complete, which will probably be in the next six months.

PROFILE: As a developer what is your strategy or some of the key items you take into account when developing an ultra-luxury home on spec?

JC: I like to invest in areas with a high barrier to entry, like Miami’s many islands. The land is fleeting and people are always going to want to be on the water, so there’s a much better chance these homes will hold their value over time. I’ve made it a point to hone in on opportunities such as waterfront and extra secluded properties to really maximize my portfolio.

PROFILE: You recently broke ground on Clara Bay Harbor on Miami’s Bay Harbor Islands, can you discuss the process of developing a high-end rental community in a neighborhood that did not have one?

JC: We’re developing Clara Bay Harbor as the premier rental community for Bay Harbor. The project will have three buildings, totaling 150 expansive apartments. The first broke ground in the beginning of this year, and the two following buildings have been approved by the Town of Bay Harbor Islands. We expect to begin construction on them soon.

Getting development rights in Bay Harbor is a challenge because there is a limited number the town has left to give and a ton of interest to go around. The town sold us the last of their TDRs, and now our entire site plan is approved and ready to go vertical.

A luxury rental development project of Clara Bay Harbor’s caliber will help to redefine and reinvigorate the neighborhood, introducing an elevated precedent for luxury in Bay Harbor Islands. With the influx of in-migration to South Florida in the last few years, there is a need for full-service rental offerings in the area that can accommodate young families. Clara Bay Harbor will feature private amenity spaces, concierge services and the level of hospitality where all staff, from the doormen to the pool attendants, know your name, your children’s names and your dog’s name.

PROFILE: As the developer how does the process differ between housing built for sale and housing built to lease?

JC: I approach every project with the same mindset. I want each to be of the highest quality, with the finest materials, blurring the line between apartment and condominium. The rentals I’m developing will have a luxury lifestyle one would expect to see within a resort-style condominium tower. That’s something I think will set Clara Bay Harbor apart from other multifamily offerings throughout Miami.

PROFILE: What is your outlook on the real estate market in Miami amid a changing economic environment and rising interest rates?

JC: Over the past few years, we have seen a rollercoaster of a real estate market, but Miami has sustained tremendous demand that is on an entirely different level from the rest of the nation. Even as interest rates rise, Miami will always be a destination that attracts people. Thousands are relocating to South Florida and many more have plans to purchase real estate. What we’ve seen, though, is that many would-be buyers are turning into luxury renters to wait out high interest rates and other market conditions. These renters are the people who will be attracted to our apartments at Clara Bay Harbor. For this reason, I’m very bullish on the rental market across the Miami area. I find it’s a huge, untapped opportunity, as there are not many professionally managed buildings designed specifically for renters with a high-touch experience in mind.

PROFILE: What was the first gift you brought yourself following a career milestone?

JC: More real estate.

PROFILE: What is your favorite restaurant in Miami?

JC: My favorite restaurant in Miami is either The Surf Club or Makoto.

PROFILE: Describe your perfect Saturday night in Miami?

JC: A perfect Saturday in Miami would be spending quality time with my family, especially with everyone’s busy schedules. Whether going out to dinner by the water or hanging out with friends.

PROFILE: Where do we find you on your day off?

JC: As a real estate developer, I’m afraid I never really have a true “day off” but in my spare time I’m actively involved with the Institute of Contemporary Art and Perez Art Museum in Miami. I hold leadership positions at both museums, so I try to be as hands on as I can with any events, awards, or activations going on. I also try to be outdoors as much as possible whenever I can, so I love going over to the beach and playing tennis or golf on my off days.

Images via Clara Homes