PROFILEconnect: South Florida Capital Markets Summit at E11EVEN Residences Beyond on 2/7/24

On Wednesday February 7, 2024 PROFILEmiami will host its inaugural South Florida Capital Markets Summit, exploring the current state and future of how real estate in Miami is valued, financed, and transacted with South Florida’s top real estate and finance executives.

Discover the intricacies of commercial real estate investment and financial markets where industry leaders will dissect the impact of changing interest rates, inflation, and global economic conditions on investment decisions. The exclusive panel features industry leaders developer Dan Kodsi of Royal Palm Companies, Dev Motwani of Merrimac Ventures, Raul Llanes of City National Bank, Michael May of Silverstein Capital and Justin Oates of Cain International; moderated by Matt Einheber of TitleEQ.

Panelists will have a comprehensive discussion about the current capital stack in commercial real estate deals and explore strategies that sponsors can employ to optimize their capital structure. The discussion will also delve into the market's underwriting standards and loan-to-value ratios, uncovering their influence on loan approvals; as well as a spectrum of financing options, from debt and equity to mezzanine financing and EB-5, and grasp typical terms offered. The discussion serves to educate attendees to anticipate future challenges and opportunities in the commercial real estate financing landscape while acquiring best practices for managing and mitigating risks, particularly in times of economic uncertainty.

Part of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series, the event brings together Miami’s real estate industry and business professionals to network and connect outside of a traditional business setting. Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders as they discuss the industry’s most pressing topics. The evening is hosted by Demetri Demetri Demascus and Katya Demina of PROFILEmiami.

Panelists:

• Dev Motwani, Merrimac Ventures

• Dan Kodsi, Royal Palm Companies

• Michael May, Silverstein Capital

• Raul Llanes, City National Bank

• Justin Oates, Cain International

• Moderator: Matthew Einheber, TitleEQ

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

Date: Wednesday, February 7, 2024

Where: E11EVEN Residences Beyond Sales Gallery, 1018 N Miami Avenue, Miami, FL 33136

Time: 6 PM - 9 PM

Music: DAKAP

Food & Drinks: Zeroe Plant Based Caviar, E11EVEN Vodka

Schedule:

• 6 PM - 7 PM: Cocktails & Networking w/ sound by DAKAP

• 7 PM - 8 PM: Architecture & Interior Design Panel

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

Sponsors

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Sponsor Event

Sterling Bay Joins Key International As Co-Developer of 848 Brickell Office Tower

Key International, led by Diego and Inigo Ardid, has teamed up with Sterling Bay, a national real estate development firm known for its pioneering approach to developing award-winning creative offices, as the co-development partner of 848 Brickell, a Class-A creative office and retail tower proposed in Brickell. Sterling Bay joins Key International in developing plans for this project, which, pursuant to zoning approval by Miami-Dade County, will soar 51 stories in the heart of Miami's bustling Financial District.

"We strategically selected Sterling Bay as our co-development partner at 848 Brickell to bring their expertise in creating world-class offices to this exciting new project," said Diego Ardid, Co-President at Key International. "We're confident that their involvement will ensure 848 Brickell represents the next generation of modern workspaces in South Florida."

With a reputation for redefining the workplace experience through innovative design, amenities, and functionality, Sterling Bay consistently delivers creative offices for globally recognized tenants, including Google, McDonald's, Dyson, WPP, Boston Consulting Group, and Greenberg Traurig. The firm's impressive portfolio includes a pipeline of $20 billion in transformative urban campuses that have reimagined entire communities and reshaped how people perceive and engage with office spaces.

Sterling Bay has developed workplace environments for over twenty years, partnering with global architecture and design leaders to create spaces that foster productivity, collaboration, and employee well-being. In 2019, Sterling Bay completed its first Miami office development, 545wyn, which marked Wynwood's first-ever Class-A office building, sparking a boom in Wynwood’s commercial activity, and bringing major tenants to the submarket, including Sony Music, PwC, MIAX, Gensler, and Slalom.

"Miami is the nation's new epicenter for commercial growth, and Brickell sits at the center of the city's business activity - it's arguably the hottest submarket in the country right now for commercial office development, and we're poised to deliver a top-tier office product at a crucial inflection point for the area," said Andy Gloor, CEO at Sterling Bay. "848 Brickell will exceed everyone's expectations for fusing the Miami lifestyle with its workplace needs, and we look forward to working with Key International to deliver on this shared vision."

Once complete, 848 Brickell will offer future tenants an impressive 750,000+ square feet of Class-A office space, accompanied by a curated ground-floor retail space spanning 7,500 square feet and on-site parking facilities accommodating over 1,000 vehicles.

Designed by global architectural, urban planning, and engineering firm Skidmore, Owings, & Merrill (SOM) to cater to the evolving needs of modern businesses and professionals, 848 Brickell touts’ hospitality-inspired workplace amenities, including on-site, tech-enabled conference facilities, a luxury fitness center, and an expansive outdoor terrace, mixed with lifestyle amenities like padel tennis courts and private open-air lounges. This prime location offers tenants ocean and Brickell Avenue views and quick access to the neighborhood's top dining, retail, and entertainment destinations.

Renderings via Key International

PROFILEconnect: Design Summit Architecture & Interior Design at Eichholtz Gallery on 2/1/24

On Thursday February 1, 2024, PROFILEmiami will host its inaugural PROFILE Design Summit, exploring the state of the Architecture and Interior Design industries. The PROFILE Design Summit is the next installment of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series, which brings together Miami’s real estate industry and business professionals to network and connect outside of a traditional business setting. PROFILEconnect is attended by Miami’s top investors, developers, business professionals, brokers, financiers, architects, designers and other service providers.

Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders. The night will feature an hour of networking with sounds by local DJs DAKAP, followed by the panel discussion and Q&A, and will finish off with more networking, supplemented by an open bar throughout the night and experience Zeroe Plant Based Caviar. Also on view will be a custom curated art collection by celebrity art dealer Avery Andon of ArtLife featuring works by Andy Warhol, Keith Haring, Jeff Koons and Alec Monopoly.

Panelists:

• Kobi Karp, Kobi Karp Architecture & Interior Design

• Louis Birdman, One Thousand Group

• Ralph Choeff, Choeff Levy Fischman

• Will Meyer, Meyer Davis Studio

Buy Tickets

Who Should Attend: Architects, Interior Designers, Design Vendors, Construction & GC’s, Developers, Investors, Brokers, Lenders, Architects, Lawyers, Wealth Managers, Financial Planners, CPAs and other Business Professionals.

Date: Thursday, February 1, 2024

Where: Eichholtz Miami, 3711 NE 2nd Ave, Miami, FL 33137, Miami Design District

Time: 6 PM - 9 PM

Schedule:

• 6 PM - 7 PM: Cocktails & Networking w/ sound by DAKAP

• 7 PM - 8 PM: Architecture & Interior Design Panel

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

Music / DJ: DAKAP

Food & Drinks By: Pura Vida, Zeroe Plant Based Caviar, E11EVEN Vodka, Brugal Rum, Kopu Water

Sponsors

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Sponsor Event

Inside Gil Dezer's Patented 'Dezervator' Coming To Bentley Residences Miami

Real estate visionary Gil Dezer of Dezer Development, a car collector and aficionado, wanted to offer his buyers at the iconic Porsche Design Tower an amenity that no other tower in the world offered, a car elevator to deliver you and your car to your own private garage in the sky. The patented ‘Dezervator’ was born, and changed the face of ultra-luxury real estate forever. The ‘Dezervator’ is a one-of-a-kind ultra-luxury car elevator which provide residents with direct access to their apartments inside their cars, offering a seamless and unprecedented lifestyle experience.

“When we started designing the Porsche Design Tower we thought about, what does Porsche have to do with real estate, so we made the building about the car and the car lover. What happened the building became a place for privacy. It is the only building in the world that you can come and go and you do not have to see a valet or security and you have full access to your home the way you would have it in a single family home,” said Gil Dezer who pioneered the “Dezervator’ and developer of Porsche Design Tower and Bentley Residences Miami.

Now, Dezer has teamed up with Bentley Motors for the upcoming Bentley Residences Miami, which is currently under development in Sunny Isles Beach. Scheduled for completion in 2026, the Bentley Residences will boast a four-car garage for each apartment, equipped with space for electric vehicle (EV) charging points. The standout feature of these garages is the state-of-the-art 'Dezervator' lift which will effortlessly transport both cars and passengers from the road to the apartment in a single, smooth motion.

“After completing Porsche Design Tower some of the feedback that we got from our buyers is that they were seeking more in-unit parking as some had larger families, etc. So in Bentley Residences Miami each garage will have parking for 4 cars as well as in-unit electric car charging.” Explained Gil Dezer.

The Bentley Residences will feature four 'Dezervators,' a unique elevator design conceptualized by Bentley's partners at Dezer Development. These elevators can transport cars to the top floor of the 749 ft building using a hydraulic system that securely lifts the car onto a robotic shuttle system. Riding the Dezervator, while seated in your car, offers a one-of-a-kind experience, with glass-enclosed lower floors providing panoramic views of the communal areas.

Each resident will have a personal three or four-car garage within their apartment, complete with EV charging amenities. RFID stickers in residents' cars will trigger a sophisticated lighting system upon arrival, guiding them to the correct Dezervator without any manual intervention.

“Every unit features the patented Dezervator system which takes you and your car up to your apartment where your car sits right in your garage a few steps from your front door. No other building in the world offers that amenity. You walk straight from your garage into your apartment, into the foyer, which overlooks the swimming pool on every single balcony and the ocean beyond.”

Bentley Motors and Dezer Development joined forces in 2021 to bring to life the first-ever Bentley-branded residences. Spanning an impressive 61 stories, each exquisitely finished apartment will offer breathtaking bay and ocean views. Prospective residents can now take a virtual reality tour to explore the Bentley Residences firsthand, experiencing the unique journey via the 'Dezervator' lift up to the in-unit garages. The Sales Gallery, which opened in 2022 in Sunny Isles Beach, Miami, is also open for those local to the area, showcasing a full-size 6,000 sqft model unit furnished by Bentley Home.

With prices starting from $4.2 million, Bentley Residences Miami promises a lifestyle of unparalleled luxury, seamlessly blending Bentley's automotive excellence with the epitome of high-end living.

CONSTELLATION GROUP BEGINS CONSTRUCTION ON UPSCALE OFFICE AND RETAIL DEVELOPMENT IN CORAL GABLES

Constellation Group, a Miami-based commercial real estate investment and development firm, along with The Boschetti Group, have broken ground on their Class A+ boutique office and retail project at 4225 Ponce de Leon Blvd in South Florida's renowned “City Beautiful.” This transformative development is poised to elevate the heart of Coral Gables' Merrick Park district, the region’s premier shopping and entertainment destination. The project is slated for completion in 2025 and recently locked down a $33 million construction loan from Miami-based Banesco USA and Abanca.

A groundbreaking ceremony was attended by members of the Constellation and Boschetti Group teams; Coral Gables Mayor Vince Lago; representatives from Banesco USA and Abanca, who provided the financing for the development; Arquitectonica; and Burke Construction.

“This is a very proud moment for us as we come one step closer to developing a best-in-class office destination that embodies the true essence of Coral Gables' elegance and sophistication," said Eduardo Otaola, Managing Principal at Constellation Group. "This development will provide a boutique-style building with modern office spaces and enticing amenities within a highly coveted location."

The eight-story property, strategically located in Coral Gables' shopping district, will span 85,000 square feet and is situated between 4225 and 4311 Ponce de Leon Blvd. Renowned for its innovative designs, architectural firm Arquitectonica has crafted a luxury boutique-style Class A+ Office with 5,500 square feet of ground floor retail space, premier office space, parking, and a 6,000 square foot rooftop venue, which will offer stunning panoramic views of the city and accommodate a food and beverage venue. A pedestrian plaza and paseo on the ground floor offering valet service will enhance the overall experience for tenants and visitors alike.

The interiors are designed by Interior Architects, Inc. while Naturalificial, a leading landscape architecture firm, will design outdoor spaces that harmoniously blend nature and modernity.

Meet Our Iconic Supercar Industry Panelists for PROFILE Collectors Club 'The Evolution of Collector Hypercars'

On Thursday January 25, 2024 PROFILEmiami will host ‘PROFILE Collectors Club: The Evolution of Collector Hypercars’ at leading hypercar dealership Prestige Imports. Where passion and opulence intersect, PROFILE Collectors Club is an ultra-luxury bespoke experience bringing together today's hottest brands and rarest collector's items with Miami's most active real estate and business professionals to connect and learn about their passions outside of a business setting. The lavish bespoke networking soirée will feature a panel discussion featuring automotive industry icons Prestige Imports CEO Brett David, CURATED founder John Temerian, real estate developer Gil Dezer of Bentley Residences and Porsche Design Tower, and celebrity art dealer and supercar collector Avery Andon of Art Life, who will share insights into hypercar evolution, the art of collecting, the preferences of the new generation of collectors, and the potential influence on vintage, modern, hybrid, and electric supercar values.

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Brett David, CEO, Prestige Imports

Brett David, one of the leading minds in the business of automotive, serves as the dynamic CEO of Prestige Imports, a globally renowned luxury automotive dealership specializing in rare and exotic vehicles. As the second-generation leader of this iconic family-owned business, Brett has successfully guided the company to unprecedented heights, solidifying its position as a premier destination in the bespoke automotive industry.

Prestige Imports, home to one of North America's leading Lamborghini dealerships, proudly showcases phenomenal models such as the Aventador, Huracán, and Urus. The dealership's expansive showroom is also a haven for enthusiasts, featuring a diverse collection of exotics and supercars of all kinds. Renowned brands like Pagani of Miami, Gunther Werks of Miami, Lotus of Miami, Czinger of Miami, and many others grace Prestige Imports' showroom, offering a remarkable array of automotive excellence.

Prestige Imports caters to all forms of transportation that transcend the boundaries of land, sea, and air. The Prestige Marine division showcases popular watercraft brands including Pardo, Iguana, Midnight Express, Van Dutch, and Tecnomar. Additionally, Prestige Aviation extends the company’s impressive offerings to private aircraft.

Notably, Brett David and the Prestige Imports team regularly give back to the community with the establishment of Ride2Revive, a non-profit organization. This annual event, orchestrated by Prestige Imports, unites exotic car owners for a noble cause and exemplifies Brett David's commitment to giving back and providing exceptional automotive experiences to those experiencing difficult circumstances.

Brett David's unwavering commitment to meeting each client’s specific needs has made Prestige Imports the foremost choice for luxury transportation enthusiasts in and around South Florida.

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Gil Dezer, Dezer Development (Porsche Design Tower & Bentley Residences)

One of the youngest developers of luxury high-rise residential and condo-hotel properties in the United States, Gil Dezer has been instrumental in changing the face and value of South Florida real estate. He has earned wide recognition as a key developer at the forefront of the luxury brand partnership real estate trend and continues to actively partner with major brands to further spotlight South Florida to buyers globally.

Most recently, Gil announced his partnership with Bentley Motors to construct the first ever Bentley Residences, 200-plus oceanfront residences which will launch sales later this year. Standing at 749 feet and over 60 stories high, the property will be the tallest residential tower on a U.S. beachfront.

Other Dezer Development oceanfront projects include the first-ever Residences by Armani/Casa tower in partnership with the iconic fashion and furnishings designer, Giorgio Armani. Developed in partnership with the Related Group, the project recently achieved its $1 billion sellout. Gil also partnered with Porsche Design Group to deliver Porsche Tower, a 60-story ultra-luxury tower showcasing a one-of-a-kind Patented robotic parking system known as the “Dezervator,” which allows owners to park their vehicles in ‘sky garages’ directly next to their units. Gil also led the Trump Organization’s first foray into the South Florida real estate market through the successful development of Trump Grande Ocean Resort and Residences and Trump Towers.

Notable future projects include the Intracoastal Mall, which will bring 2,000 residences, 375,000 square feet of retail, 200,000 square feet of office, a hotel, harbor and park to the Miami waterfront site, transforming the nearly 30-acre property.

Gil holds a Florida real estate license and is the past president and Chairman Emeritus of the Developers & Builders Alliance (DBA), one of the world’s largest development and construction organizations. He is a past recipient of the Greater Miami Chamber of Commerce’s R.E.A.L. Award for Residential Real Estate – Condominiums, and has taken home the Platinum Personal Achievement Award for Sales Director of the Year for Trump Grande Ocean Resort & Residences for three years in a row at the annual Florida’s BEST Awards.

Active in the community, Gil holds several positions including co-founder of the Mount Sinai Medical Center Foundation; Young President of the Miami Heart Institute; and member of Florida Friends of Israeli Defense Forces (FFIDF); Project Cradle in Miami; WIZO Florida; and One Family Fund Organization.

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John Temerian, CURATED

John Temerian, the co-founder of CURATED, is a notable car aficionado and a driving force behind the company's unique approach to vintage supercars. Established in 2015 with business partner Jordi Ricart, CURATED distinguishes itself by functioning not as a conventional dealership or restoration facility, but as a team of historians dedicated to preserving the legacies of rare automotive gems. Specializing in Vintage Blue Chip European Automobiles, particularly those from the 1970s to the early 2000s, Temerian's passion for these iconic vehicles is evident in CURATED's commitment to meticulous restoration and documentation.

Temerian's leadership, alongside co-founders Ricart, Alan Lazowski, and Jim Goetz, has propelled CURATED to international acclaim. Believing in the automobile as a viable investment asset class, they strategically focus on low-production cars, betting on the iconic supercars of the 1980s and 1990s. This vision has positioned CURATED as a renowned brand, celebrated for its pursuit of unique Analog Supercars. Temerian's partnership with Jordi Ricart is a testament to the synergy born from their seemingly disparate backgrounds – a passionate car aficionado and an experienced corporate executive. Their shared commitment to integrity, entrepreneurship, and stewarding the next generation of collectors defines CURATED's success.

The genesis of CURATED arose from Temerian's inherent love for vintage European blue-chip supercars and Jordi's entrepreneurial mindset. Their partnership, supported by Alan Lazowski and Jim Goetz, has not only shaped the company but also garnered the trust of clients and investors alike. With an unwavering vision and relentless pursuit of excellence, John Temerian has played a pivotal role in making CURATED a respected authority within the niche, recognized for pairing the world's best supercars with the world's best collectors.

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Avery Andon, ArtLife

Avery Andon is a Veteran Art Dealer and Philanthropist, most notably as the manager to world renowned Street Artist, Alec Monopoly and Founder / CEO of ArtLife Gallery. Under Avery’s guidance, Alec has grown into one of the most profitable street artists in the world, with 8-figure annual revenue, sold out exhibitions from New York to Morocco, and lucrative endorsement deals. Avery founded www.artlife.com in 2014, a successful e-commerce art platform considered one of the first Online-Only Blue Chip Art Galleries. ArtLife has achieved 8-Figure annual sales using an innovative business model Avery conceptualized coined “Click & Mortar” - combining online and social media “click” driven sales with strategically planned brick and “mortar” physical pop ups. He has been featured in New York Times, Forbes, Vanity Fair, New York Post, and HypeBeast along with advising a range of celebrities and companies on their Art Investments. As an active philanthropist, Avery has served as the Co-Chair for UCLA Mattel Children’s Hospital, Goldie Hawn’s Mind Up Charity, along with co-founding City Seats to benefit The Boys & Girls Club of America. Avery currently serves on the Committee of anti- poaching non-profit WildAid, and Amazon conversation charity ACT. Since moving to Miami, Avery has supported Miami Police’s Do The Right Thing Initiative, and Amigos for Kids to help provide meals for underprivileged South Florida families.

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Buy Tickets

Date: January 25, 2024

Location: Prestige Imports, 15050 Biscayne Blvd, North Miami Beach

Event Time: 7 PM – 10 PM

DJ/ Music: DAKAP

Fireside Chat Speakers:

• Brett David, Prestige Imports

• Gil Dezer, Dezer Development 

• John Temerian, CURATED

• Avery Andon, Art Life

Immerse yourself in Prestige Imports' one-of-a-kind Miami Showroom for an ultra-luxury experience featuring:

• ON VIEW: A custom curated collection of coveted vintage and modern hypercars from brands such as Bugatti, Pagani, Ferrari, McClaren and Lamborghini, guided by supercar icon Brett David, vintage supercar dealer John Temerian of CURATED, and renowned collector Gil Dezer, developer of Bentley Residences Miami and Porsche Design Tower.

• ON VIEW: Custom curated collection of over 60+ rare timepieces including Patek Philippe, Audemars Piguet, Richard Mille, Rolex, etc. by Timepiece Trading.

• ON VIEW: Custom curated art collection by celebrity art dealer Avery Andon of Art | Life featuring works by Andy Warhol, Keith Haring, Jeff Koons and Alec Monopoly.

• A panel discussion with exploring "The Evolution of Collector Hypercars” featuring esteemed panelists, including Prestige Imports CEO Brett David, CURATED founder John Temerian, real estate developer Gil Dezer of Bentley Residences and Porsche Design Tower, and celebrity art dealer Avery Andon of Art Life.

• Pop-Ups by Miami-based shoe and lifestyle brand Blu Scarpa and diamond jeweler Susan Blake.

• A luxury DJ-led cocktail soiree surrounded by rare hypercars. Food & Drinks by Pura Vida, Zeroe Plant Based Caviar, E11EVEN Vodka, VIP Seltzer and Brugal Rum.

• Music by local Miami-based DJ DAKAP

Thank You To Our Sponsors:

Penthouse At Indian Creek Residences & Yacht Club Sets New Price Record For Bay Harbor Islands

Penthouse 1 at Indian Creek Residences & Yacht Club, the Kobi Karp-designed ultra-luxury boutique development condo on Miami's Bay Harbor Islands, has gone into contract before even being publicly listed. Asking $12 million, the penthouse sale sets a record price for the islands, in terms of total sale price and price per square foot. For comparison, the current condo sale price record for Bay Harbor Islands is $3.325 million, for a condo that sold in 2014.

Penthouse 1 overlooks the exclusive Indian Creek Island, known as "Billionaire's Bunker" and home to the likes of Jeff Bezos, Tom Brady and Ivanka Trump. The full-floor home, the largest penthouse for sale on the islands, spans 5,293 square feet and offers 75 feet of unobstructed waterfront views, as well as a private terrace, wine wall feature and access to the development’s amenity collection, including one of the area's only private yacht clubs, a rooftop pool, spa, fitness center, outdoor screening lounge and more.

The sale comes fewer than three months after Indian Creek Residences & Yacht Club launched sales, illustrating the strong demand for luxury new development on the Bay Harbor Islands. Since 2019, the average closed price in Bay Harbor has increased 117% and the average closed price-per-square-foot has increased 85%. The islands are in the midst of a major transformation, emerging as a new luxury destination in a pocket of Miami that feels more like a neighborhood than many other areas.

Indian Creek Residences & Yacht Club is being developed by the NYC and Miami-based Landau Properties, led by Jonathan Landau. The boutique building offers nine luxury condominium homes and six yacht slips, providing one of the only private yacht clubs in the area and a sought-after opportunity for waterfront views of the coveted Indian Creek Island and exclusive Indian Creek Country Club. Sales and marketing are exclusively overseen by OFFICIAL Partners.

The eight-story waterfront development is being designed by acclaimed Miami-based architect Kobi Karp with interiors by Linda Zarifi of Zarifi Design, representing the designer’s first ground-up condo in Miami. A counterpoint to the tall, boxy, glass towers that have become synonymous with new development in Miami, the boutique, high-design building will pay homage to Bay Harbor's large concentration of mid-century modern design. Curved edges, neutral natural materials and sculptural details define the building inside and out. Lush, tropical and mature landscaping by Enea Garden Design will envelope the building and convey a resort-like return to nature.

In addition to expansive, elegant homes, Indian Creek Residences & Yacht Club will offer a comprehensive, resort-style amenities package for residents. The owners’ yacht club and private marina is complete with one shared slip and five available for purchase, dockmaster concierge services and an outdoor lounge with bar. Additional amenities include a world-class spa with sauna and steam rooms, dedicated treatment room and red-light therapy room; state-of-the-art fitness center; outdoor yoga lawn; outdoor waterfront lounge with hot tub; The Parlour, a flexible creative space with a custom wet bar offering personal storage, coffee bar, home office space and entertainment lounge with a high-fidelity audio system; and a 2,600-square-foot landscaped rooftop terrace featuring a pool, private dining area, outdoor kitchen and bar, and outdoor screening pavilion with lounge seating. The building also offers a full-time doorman, resident concierge and 18 private parking spaces.

Renderings via Williams New York

Ytech Begins Demolition of Site For The Residences at 1428 Brickell

Miami-based real estate development firm Ytech has commenced demolition of the existing structure at 1428 Brickell Avenue, the future location of luxury high-rise condominium The Residences at 1428 Brickell. Ytech has owned the now-vacant property since January 2017, which previously housed 100,000 square feet of office space. John Moriarty & Associates (JMA) is the construction team conducting the demolition. This demolition marks a pivotal step in delivering The Residences at 1428 Brickell and continues to build momentum for Ytech’s real estate development portfolio, following the approval for 75 Broadway by the Planning & Zoning department in Miami.

“When we acquired the property at 1428 Brickell Avenue, we did so with the firm intent of delivering a level of design, craftsmanship, and meaningful innovation never before seen in Miami,” said Yamal Yidios, CEO of Ytech. “As demolition commences, we will ensure that even the earliest stages of The Residences at 1428 Brickell’s construction echo our commitment to delivering a truly superior product for our buyers.”

The Residences at 1428 Brickell is a limited collection of residences, priced from $2 million to $7 million, that will be fully finished with two- to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet. These residences showcase stunning water views and have been thoughtfully created with a true flow-through configuration to maximize light. A significant portion of residences within the property are two-story, creating the feeling of a single-family home in the sky. The tower’s crown jewel is its $60 million penthouse with extraordinary 30-foot ceilings, 7 bedrooms, 9 bathrooms, and two east-facing balconies with unparalleled views of Biscayne Bay. The tower also includes lower penthouses which start from $8 million and range in size from 4,000 to 10,000 square feet.

Over 80,000 square feet of amenities will also adorn The Residences at 1428 Brickell. Located 860 feet in the sky, Ytech dedicated the three levels within the top of the tower to house curated private and shared spaces showcasing stunning, panoramic water and city views. Amenities include an expansive 10,000 square foot gym with weight room, HIIT room, and an indoor/outdoor yoga room, a rooftop pool and atrium, a hot spa and daybed lounging area, a two-story wine and fine art lounge, state-of-the-art office suites, a private dining room with a one-of-a-kind Vaselli kitchen, a juice and wellness bar, an immersive spa, an aquatic therapy area, a children’s recreation and learning center, fully furnished private guest suites, and more. Additional highly personalized services include reception, valet and porter, bellman and doorman services, a pet facility with grooming area, and in-unit package delivery.

“Ytech has a demanding and meticulous attention to detail on every phase of development – from initial concept all the way through to construction of the tower. Our standards demand only the best, so for demolition we’ve tapped experts within high-density urban cores such as New York City to oversee and advise on this process and look forward to delivering premier luxury residences of a never-before-seen caliber to Brickell,” said John Breistol, COO of Ytech.

“With the achievement of this milestone and the extraordinary success we have seen in sales, there is enormous confidence in Ytech and this project. Ytech is cementing their well-deserved reputation as the premier ultra-luxury developer in Brickell, and the quality and thoughtful design of The Residences at 1428 Brickell resonates with domestic and international buyers,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate.

The Residences at 1428 Brickell is slated for completion in 2027, with Cervera Real Estate serving as the sales team representing the property.

Images via The Boundary for Ytech

THE CONCOURS CLUB TOPS OUT EVENT CAMPUS AT THE MEMBER-ONLY LUXURY MOTORSPORT RESORT

The Concours Club, the exclusive, members-only motorsport and luxury lifestyle resort within the Miami-Opa Locka Executive Airport, and Coastal Construction, have topped out the highly anticipated Event Campus at The Concours Club with stone and tile installations by Modern Stones. The Event Campus adds another venue to the Club’s array of existing settings and is ideal for private events, corporate team-building, vehicle unveilings, product showcases, testing and performances of all kinds, and much more. 

A traditional topping-out ceremony, celebrating the hard work and dedication of all those involved, was held on Tuesday, November 28, 2023. Attendees included Tom C. Murphy, Co-President of Coastal Construction, Trilogy Real Estate Group project team leaders Albert Acevedo, Senior Project Manager, and Mike Hammon, Executive Vice President of Development.

The event marked a significant milestone in the construction of the stunning 2-story structure located within Miami’s world-class driving circuit and resort. The Concours Club also features a luxurious members lounge & restaurant, private Auto Loft garages, world-class dining experiences, unparalleled events & hospitality, and numerous other amenities. Construction of the 16,792 SF Event Campus began in 2022 and is slated for completion in 2024.

The Event Campus at The Concours Club will be the first and only motorsport-based event campus located within minutes of a major metro area. Conceived by the legendary Italian design house, Pininfarina, the Event Campus will be bifurcated from The Concours Club’s exclusive member-only areas and feature its own separate entrance, paddock, and pit lane.

"Coastal Construction Group and the Murphy Family are honored to have been entrusted with the construction of this highly anticipated project for motorsports enthusiasts," said Tom C Murphy, Co-President of Coastal Construction Group. "We are thrilled to reach this major milestone and take immense pride in being a part of the team that is bringing this vision to life."

Clara Homes Closes On $7.7 Million Residential Site in Miami's Wynwood Neighborhood And Reveals Kobi Karp Designed Renderings

Clara Homes, a Miami-based real estate development firm founded by James Curnin, has closed on a $7.7 million residential development site in Miami’s trendy Wynwood neighborhood. Located at 2601 NW 6th Avenue, the 17,000-square foot site is planned to become a 154-residence luxury rental building designed by architect Kobi Karp. The building will include at least 40% affordable workforce housing as part of the Live Local Act and will rise roughly 200 feet. Jordan Karp of Jordan Karp, LLC. represented Clara Homes in the deal, while the seller, men’s clothing wholesaler Austin Burke, was represented by Jeremy S. Larkin and Joseph R. Gallaher.

“Wynwood is one of the hottest Miami markets to invest in and only continues to increase in value as new cultural, dining and art institutions open in the neighborhood,” said James Curnin, CEO and Founder of Clara Homes. “When presented with the rare opportunity to acquire the land at such an attractive rate, we jumped at the chance to create a new rental experience in this rapidly growing part of town.”

The acquisition closed at $450 per square foot, approximately 40% below other Wynwood land sales, which typically average between $750 to $1,000 per square foot. The site was sold as a cap rate play instead of a redevelopment play, with attractive below-market seller financing at 5% and a sale leaseback for at least a year to a year and a half.

While plans are still in progress for the upcoming project, the luxury rental building is projected to offer a full suite of premium amenities and sophisticated touches, as well as 24-hour doormen, valet service, dedicated ground floor retail space and Miami’s first rooftop padel court, catering to the city’s heightening interest in the rapidly growing global racquet sport. Construction is expected to begin sometime within the next 12-15 months and will take about 18 months to complete.

Clara Homes is also in the process of developing its first multifamily development in South Florida, Clara Bay Harbor, following the firm’s success developing, building, and selling numerous luxury spec homes for above market rate prices. Clara Bay Harbor will be completed in three phases, having begun construction of the first building located at 10281 West Bay Harbor Drive.