Mercedes Benz Launches First Branded Residence In The United States in Collaboration With JDS Development Group

JDS Development Group and Mercedes-Benz have revealed Mercedes-Benz Places in Miami, a 67-story, mixed-use residential project was designed by SHoP Architects where construction is already underway with an expected completion in 2027. Located at 1 Southside Park, Mercedes-Benz Places is set to deliver over 2.5 million square feet of mixed-use development including 791 branded residences, 130,000 square feet of amenities and hospitality space, 200,000 square feet of office space, health and fitness facilities, a 174-key hotel, retail outlets, and on-site parking. Pricing for the residences is set to start at $550,000 and ranges up to $4 million for the largest three bedroom floor plan; penthouses are yet to be released. The project is also the first branded real-estate project for Mercedes-Benz in the United States, centered around the theme of “Timeless Design, Inspired by Miami.”

“It is a privilege to work with Mercedes-Benz and move beyond a traditional residential building to create a new community for the future. Underpinned by sustainable building methods and design, Mercedes‑Benz Places in Miami will create a legacy not just for Brickell, but Florida as a whole.” Said Michael Stern, Founder & CEO of JDS Development Group

This visionary tower is being developed by JDS Development Group, the company behind some of the world’s most transformative skyscrapers of the past decade. The project is part of the Mercedes-Benz licencing business by Mercedes-Benz Customer Solutions GmbH. The Mercedes-Benz design team has worked in collaboration with award-winning SHoP Architects to ensure the structure embodies the brand’s design philosophy of Sensual Purity.

The residential tower will be built in Brickell at 1 Southside Park, comprising 791 Mercedes-Benz residences with studios to 3-bedroom condominiums. Occupants will enjoy spectacular views of Miami, Biscayne Bay, the Atlantic Ocean, and beyond.Foundation work is underway and initial occupancy is planned to start in 2027. Sales will be managed by SERHANT, a multidimensional real estate and media company.

“Our branded real-estate venture in Miami embodies the strategy behind Mercedes-Benz Places. We want to develop exclusive residences with our partner that are undeniably Mercedes-Benz and create a new mode of urban living with vibrant communities. Ultimately, we want to create places to come home to, in a location worth living in.” Said Eva Wiese, Head of Mercedes-Benz Customer Solutions GmbH

The design of Mercedes-Benz Places in Miami centres around an eye-catching, cube-shaped mixed-use tower. These simple geometric bodies are interconnected to create a prominent skyscraper that stands out in the current architectural landscape of Miami. The shape of the building has been refined through the Mercedes-Benz design philosophy of Sensual Purity. This is the symbiosis of intelligence and emotion – two contrasting principles that combine to create clear forms and sensuous surfaces. The emotional side of Sensual Purity is characterised by free-flowing, elliptical lines and shapes inspired by nature. With its stacked-box design, this project reflects the technical side of the design language.

“Our distinctive style is Sensual Purity. This philosophy, based on the duality of emotion and intelligence, consists of a hot and a cool pole. The cool aspect represents very much the tradition of geometric German long live design originated in the Bauhaus. This crucial part of our brand was the inspiration for the architecture of this extraordinary new Mercedes-Benz Places landmark in Miami.” Said Gorden Wagener, Chief Design Officer, Mercedes-Benz AG

Looking at the architecture of Mercedes-Benz Places in Miami in more detail, the profiles of the individual balconies and terraces are designed to capture the light in a wide variety of ways. Technical silver is the dominant colour, complemented by the classic Mercedes-Benz black and white, to create opportunities for distinctive highlights and stimulating contrasts. The overall architectural effect commands a distinct presence on the Miami skyline.

Mercedes-Benz Places in Miami will give residents and guests access to a range of customer-centric living solutions. There will be more than 130,000 square feet of amenities and hospitality space. In addition, there will be 200,000 square feet of office space, health and fitness facilities, a 174-key hotel, retail outlets, and on-site parking. Innovative mobility solutions also play a key role with space for EV charging stations, valet parking, a car fleet for occupants, plus bicycle and scooter sharing. Mobility and innovative digital solutions will be developed in collaboration with ReWyre, a leading commercial property technology platform.

In addition to changing the residential landscape, Mercedes-Benz Places in Miami aims to transform the Brickell neighborhood. Key to this will be reimagining Southside Park as an urban oasis through a collaboration with renowned urban landscape designers, Field Operations. With its canopy of trees and native vegetation, such as mango trees and shortleaf figs, the project aims to create a healthy living space. The regeneration strategy also supports a range of environmentally friendly activities, including energy-efficient production, impactful vegetation, and water conservation.

Renderings via The Boundary

Olara Begins Construction On Private Dock in West Palm Beach

New York-based developer Savanna has begun construction on the private dock amenity at Olara, a new luxury condominium tower set to overlook the Intracoastal Waterway. The private dock will be one of the most exclusive amenities offered at any West Palm condominium, given its rarity in the community east of Flagler Drive, and will feature a pair of house yachts, three for-purchase boat slips and a dedicated seafaring concierge capable of arranging everything from deep-sea fishing to paddleboarding. While the condominium readies to break ground in March for an expected completion in 2026, the private dock is slated to open early this summer and will serve as a preview into Olara’s forthcoming waterfront lifestyle as the 26-story building rises. SavCon is leading construction.

“Incorporating the private dock was one of the first decisions we made in the development process, and quickly became central to our vision,” said Chris Schlank, President and Co-Chairman of Savanna. “While many other projects have waterfront views, not many encourage and allow for residents to get out on the water like Olara. With dockage becoming increasingly limited in South Florida, we felt this was an amenity that our buyers would appreciate.”

Serviced by a five-star concierge team, the private dock amenity provides Olara residents with the opportunity to enjoy a wide array of unique experiences. They can coordinate a private yacht charter to Palm Beach Island, hire a boat captain for a day trip on one of Olara’s two house yachts, embark on a catamaran scuba and snorkel tour with local experts, try their hand at deep-sea fishing, have a gourmet lunch or dinner at sea or even invite friends to visit by boat and dock at the guest slip. Aside from boating, residents will also have access to many water sports and activities, including paddleboarding, kayaking and floating tubes. The dock will extend 192 feet out into the Intracoastal Waterway, and will be dimly lit throughout the evening, providing a focal point towards the water for all that pass by.

In addition to the private dock, Olara features more than 80,000 square feet of amenities that rival a luxury resort. Many of the spaces are designed for residents to refresh and reset, as wellness is a guiding principle at Olara. This includes a world-class fitness center by The Wright Fit that offers 13,000 square feet of indoor and outdoor workout spaces, ranging from an open-air yoga deck and performance training zones with indoor-outdoor turf lanes to a studio for yoga, mat Pilates, core movement and breath work and a Pilates studio. There will also be spa and wellness amenities like a five-star recovery and regeneration spa, a recovery zone featuring Normatec compression therapy and Hypervolt massage equipment, a Japanese-style Onsen, sauna, steam and treatment rooms, cold plunge, vitality pools and meditation rooms.

Olara’s pool deck continues the resort-inspired lifestyle. The grounds will be lushly landscaped by EDSA, extending to the property’s private waterfront veranda and library. Two cabana-lined swimming pools for leisure and laps will overlook the Intracoastal Waterway, while a juice bar will energize and enhance residents’ everyday life. Additional spaces at Olara include a game room, private dining room and catering kitchen designed by Gabellini Sheppard Associates. Residents working from home will also have areas optimized for productivity, such as a multimedia lounge, private offices, conference spaces and a co-working lounge. A bevy of personalized services include a concierge, 24- hour private security, valet, house car, in-home dining offerings, catering by the celebrity-chef helmed eatery and access to an exclusive Olara Residents App.

Residences at Olara will be two- to four-bedroom plus den units, with floor plans ranging from 1,500 to over 4,200 square feet, with pricing starting at $2 million.

Renderings via Binyan Studios

Related Companies Launches Sales At Waterfront Condo 'Shorecrest' in West Palm Beach

Related Southeast has launched sales for Shorecrest in West Palm Beach. The luxury condominium features stunning views of the Intracoastal Waterway, Palm Beach Island and the Atlantic Ocean. Located on North Flagler Drive, Shorecrest is designed by architecture firm Roger Ferris + Partners with residential interiors and amenities by Rottet Studio, and landscape design by DSBoca. The residences include 140 graciously scaled homes, penthouses and access to The Related Life, an impressive array of amenities, services and programming similar to those found at the most exclusive private members clubs around the world.

The renowned design team of Roger Ferris + Partners and Rottet Studio’s collaboration on Shorecrest is each firm’s first ground-up, new residential development in West Palm Beach. Roger Ferris + Partners’ striking design features a curvilinear façade with floor-to-ceiling glass that provides panoramic views of the water and ample light for each residence, creating a sense of openness and connectivity between indoors and out.

“Related has been dedicated to the growth of West Palm Beach for decades and we are proud to expand our luxury residential offerings with Shorecrest,” said Stephen M. Ross, Chairman and Founder of Related Companies. “Tailored to this thriving community, Shorecrest transforms a part of the waterfront while capturing a timeless aesthetic for residents.”

“West Palm Beach has solidified its status as one of the most sought-after addresses in the country,” said Kenneth A. Himmel, President and CEO of Related Urban. “Shorecrest is a feat of remarkable design from Roger Ferris + Partners, one of the most renowned experts in the industry, and demonstrates the strength of the local market.”

“Shorecrest offers an extraordinary lifestyle in West Palm Beach that prioritizes both design and function, offering gracious living spaces, many with terraces featuring panoramic waterfront views,” said Bryan Cho, Executive Vice President of Related Companies. “Building on Related’s legacy of delivering best-in-class, luxury residential buildings, Shorecrest will deliver unprecedented amenities, services and access to West Palm Beach.”

“Shorecrest resides on a spectacular site in West Palm Beach. The building features a curvilinear façade with a dramatic mosaic design on the exterior. Inside, floor-to-ceiling windows emphasize panoramic views and large outdoor terraces bring the outdoors into each residence,” said Roger Ferris, Founding Principal of Roger Ferris + Partners.

Rottet Studios’ brilliantly designed interiors at Shorecrest are finished with extraordinary detail. Kitchens offer custom White Oak European millwork, a suite of top-of-the-line Gaggenau appliances, and finishes of Cote D’Vaniglia and Calacatta Fioritto marble. Primary bathrooms feature limestone flooring, Namibia White marble walls, custom vanities, freestanding soaking tubs, and shower stalls with rain shower, handheld spray, and showerhead. With ceiling heights of approximately 9’6” that extend to 11’6” at the Penthouse floor, all residences feature White Oak wood plank flooring and numerous technology and wellness aspects including Lutron home automation for lighting and thermostat controls, enhanced cell service and super-fast network speeds, and ducted fresh air with multiple filtration points, filtered water, and multi-zone climate control.

“Shorecrest balances the classic refinement of Palm Beach, along with the relaxed attitude of contemporary South Florida. The serene interiors are intentionally light-filled and grand, drawing the sunlight indoors. The careful attention to detail and sculpted proportion in every room creates a strong residential attitude, and sense of intimacy. The interior finishes are fresh and timelessly inspiring, drawing inspiration from the sandy beaches and expansive water views nearby,” said Lauren Rottet, Founder of Rottet Studio.

Residents will enjoy world-class amenities and white-glove services encompassing the best in fitness, leisure, and entertaining in meticulously designed spaces. The stunning 60-foot rooftop pool with a 50-foot sun shelf features lounging areas as well as a dining and grill area, both with dramatic views overlooking Lake Worth, Palm Beach Island, and the Atlantic Ocean. The Club Level on the sixth floor features entertaining options that span throughout a private dining room, cocktail lounge, cafe, screening room, game room, and virtual reality lounge. Wellness options include a spa suite, state-of-the-art fitness center, and yoga room. Options for remote work in both a coworking lounge and executive meeting space.

Shorecrest residents enter through a luxuriously landscaped motor court, greeted by a doorman and valet, and welcomed into the lobby lounge staffed by a 24-hour attendant and concierge. Shorecrest will be managed by Related Management, widely considered the leader in luxury residential property management and acclaimed for their high level of service and lifestyle programming.

Related Southeast has been deeply committed to improving the West Palm Beach community for the past 25 years, with the introduction of new luxury residential projects and significant commercial properties in West Palm Beach, including The Square, One Flagler, East and West Towers, 360 Rosemary, RH West Palm, and the Hilton West Palm Beach.

A sales gallery for Shorecrest is expected to open in February 2024 and will be located at 460 S. Rosemary Ave, Suite 180, West Palm Beach, FL 33401. Related Florida LLC and Corcoran Sunshine Marketing Group are exclusively handling sales and marketing for Shorecrest, where pricing will start at approximately $1.3 million for a one-bedroom to $9 million for a four-bedroom.

Renderings via The Boundary

Plans Filed For Santander Tower Set To Rise 765' On Brickell Ave

Banco Santander has filed plans to develop a 40-story, 765’ tall office tower on their two acre property 1401 Brickell Avenue following their application for a total demolition permit for the existing 14-story office building which was delivered in 1973 currently sits on the property. The proposed Santander Tower would be built to LEED Platinum standards and would feature 612,918 SF of Class A office space, 107,953 SF of F&B space including multiple ground and lower floor restaurants as well as a multi-level urban club on the 9th floor podium; the building will also feature 1,496 parking spaces. Santander Tower plans to activate the pedestrian and street level with public plazas and landscaping along Brickell Ave. The tower is designed by Handel Architects with interiors by Bernardi + Peschard Arquitectos, landscape design by Rios and LandDesign. Rilea Group will oversee the development process.

Renderings via Handel Architects

Landau Properties Breaks Ground on Kobi Karp-Designed Indian Creek Residences & Yacht Club

Landau Properties has broken ground on Indian Creek Residences & Yacht Club, the highly anticipated new residential development transforming the south shore of Miami’s Bay Harbor Islands. The groundbreaking comes on the heels of the development setting a new price record for the most expensive condo sale on Bay Harbor Islands after the penthouse, which was listed for $12 million, sold for an undisclosed price.

Landau Properties founding executives Jonathan Landau, DC Lowinger and Yaeli Lowinger were joined by Linda Zarifi, Founder of Zarifi Design, Kobi Karp, Founder and Principal of Kobi Karp Architecture and Interior Design, OFFICIAL co-founders Richard Jordan, Andrew Wachtfogel and Oren Alexander, Menachem Kranz, and executives from Civic Construction, the project’s general contractor, and BridgeInvest, who provided the building’s $29 million financing package.

“Reaching this momentous milestone marks a significant stride towards the realization of this visionary development,” said Jonathan Landau, Founder and CEO of Landau Properties. “Indian Creek Residences & Yacht Club seamlessly blends the most sought-after waterfront location and amenities with cutting edge architectural design. We’ve created a unique product that has captivated the market and continues to see great success.”

Designed by Miami-based architect Kobi Karp with interiors by the acclaimed Zarifi Design, the curvaceous building will serve as a counterpoint to Miami’s collection of tall, boxy towers by referencing Bay Harbor Islands’ history of mid-century modern design. The eight-story waterfront building is home to nine luxury condominiums and six yacht slips, one of the only private yacht clubs in the area. Providing a sought-after opportunity for waterfront views of the coveted Indian Creek Island and Country Club, the half-floor, full-floor and duplex homes boast unobstructed waterfront views, best-in-class finishes and spacious interiors that range from three to five bedrooms and span up to 5,600 square feet.

“This is a building unlike anything else on the market on the Bay Harbor Islands, so it’s no surprise buyers from across the country appreciate the opportunity to own the best new full-service condo in this jewel like pocket of Miami,” said Andrew Wachtfogel, Co-Founder and President of New Development for OFFICIAL, the exclusive sales and marketing firm for the development. “Interest has been incredibly robust, and we’re excited to continue on that path with construction now underway.”

Complementing the expansive residences, Indian Creek Residences & Yacht Club will offer a resort-style amenities package for residents. In addition to the yacht club complete with dockmaster concierge services, the curated amenities include a world-class spa with treatment rooms, state-of-the-art fitness center, outdoor yoga lawn, flexible entertainment lounge with high-fidelity sound system and bar, and landscaped rooftop terrace with a pool, dining area, outdoor kitchen and screening pavilion. The building also offers a full-time doorman, resident concierge and 18 private parking spaces.

Pricing begins at $5.6 million for a half-floor home.

Renderings via Williams New York

Fortune International Group and Château Group Launch Sales of North Tower at The St. Regis Residences, Sunny Isles Beach, Miami

The St. Regis Residences, Sunny Isles Beach, Miami, has launched sales of the much-anticipated North Tower, marking another milestone following the success at 80% sold South Tower, which started converting reservations to contracts in May of 2023. The launch of the North Tower also follows closely on the heels of the sale of a $55 million penthouse in the South Tower, introducing a new opportunity for buyers in this highly sought-after property. The total sellout of The St. Regis Residences Sunny Isles Beach, Miami equates to nearly $3 billion. The project broke ground in September 2023.

The St. Regis Residences, Sunny Isles Beach, Miami, will be the tallest residential property on the ocean in South Florida, with the North Tower rising 750 feet tall. Developed by Fortune International Group and Château Group, and managed by St. Regis Hotels and Resorts, the Residences are situated along 435 linear feet of immaculate beach, offering infinite ocean views. The North Tower will feature 170 residences spanning up to 5,500 square feet and include two, three, four, and five-bedroom residences, along with exquisite, two-story, full-floor penthouses with private pools. Both towers provide amenities offerings exclusively for the use of tower residents. The North Tower’s amenities encompass an expansive lobby, pickleball and padel courts, a fitness center, a therapeutic wellness pool, kids’ and teens' clubs, private lounge areas, and more.

"The remarkable sales achievements of the first phase of The St. Regis Residences, Sunny Isles Beach, Miami have created significant momentum for the property, propelling us into this exciting new phase,” said Edgardo Defortuna, President and CEO of Fortune International Group. “With substantial high-profile sales already in the South Tower, we are confident that the North Tower will continue this upward trajectory, appealing to buyers in search of the distinctive resort-style lifestyle in Sunny Isles Beach."

“As the tallest residential property on the ocean in South Florida, The St. Regis Residences, Sunny Isles Beach, Miami, stands as a global magnet for discerning buyers. The appeal lies within its luxurious amenities and exceptional St. Regis service, which attracts buyers from around the world,” said Manuel Grosskopf, CEO of Château Group. “The North Tower will provide residences with a resort-like feel that defines the Sunny Isles Beach location and deliver the elevated lifestyle available to all future residents.”

Along with exclusive amenities, North Tower residents will enjoy access to an extensive, property-wide amenity suite totaling over 70,000 square feet, curated to cater to every desire. These include a private Beach Club with direct ocean access, three ocean-facing pools with cabanas, and a Sunset Pool Deck featuring an infinity edge style pool. Residents have the option to entertain either in the oceanfront terrace dining and lounge events space of the Residents Club or in the Ellipse Club, which boasts a cognac room, wine bar, and gaming rooms. Unparalleled, 24/7 St. Regis Service is incorporated throughout the property, including their signature butler service, ensuring a seamless living experience for residents.

The visionary architecture firm Arquitectonica, paired with interiors by celebrated São Paulo-based designer Patricia Anastassiadis and landscape design by EDSA shape the towers, providing an elevated lifestyle in Sunny Isles Beach, one of South Florida's most sought-after residential locations. Positioned between the Atlantic Ocean and the Intracoastal Waterway, Sunny Isles Beach offers a unique blend of resort-like tranquility and the cultural vibrancy of city living.

PROFILE Exclusive with Developer of Jem Residences Miami Miki Naftali of Naftali Group

PROFILEmiami had the opportunity to sit down with legendary real estate developer and investor Miki Naftali of Naftali Group to discuss his career and first project in Miami, the recently launched Jem Residences Miami. Miki Naftali is the Chairman and CEO of Naftali Group which he established in 2011. Over the course of his 35-year career in the global real estate industry, Miki has acquired, developed, and managed over $15 billion and 31 million SF in real estate assets across North America, Asia, Europe, and the Middle East. In New York City alone, he has assembled a seminal portfolio of 25 luxury condominiums encompassing over 1,900 residential units, as well other notable projects, including luxury apartment buildings and mixed-use properties.

Now, Miki has turned his sights on Miami where he recently launched JEM Residences Miami in Downtown Miami’s Miami Worldcenter neighborhood. This dynamic condominium development will rise over 700’ tall, 67 stories, and is set to become a landmark focal point within the city’s iconic Miami Worldcenter. JEM Residences Miami will feature 259 condominiums with a private 50th floor amenity suite designed to compete with any high-end luxury hotel, offering a diverse array of meticulously curated indoor and outdoor spaces to cater to various activities.

PROFILEmiami joined Miki at the Jem Residences Sales Gallery to learn about his career and why he set his sights on Miami to develop his next project:

[PROFILEmiami] Where did you grow up? Give us your background? How did you get involved in real estate? Tell us about your first deal?

[Miki Naftali] I moved to the U.S. in 1987 to attend the University of Southern California to pursue a degree in industrial engineering management. While going to school, I became a property manager in order to help pay my bills. My early exposure to real estate deals involved searching for rental buildings to purchase, a task I learned myself through a combination of on-the-ground exploration and common sense. My breakthrough came when I successfully identified a property for acquisition, earning my first real paycheck. I knew that I had found my passion. After spending time in Los Angeles, I returned to Israel in 1992, where I started to work as a project manager and quickly moved up the chain to senior project manager to later become CEO of a small real estate company working on various projects including residential, hotels and office buildings. My signature project at the time was a 44-story mixed-use tower in Tel Aviv, one of the tallest buildings in the city. In 2000, I made a pivotal move to New York, marking a significant chapter in my real estate career.

[PM] What was your first major development?

[MN] From 2000 to 2004 I developed several very successful residential projects in New York City. In 2004, I acquired the famous Plaza Hotel – a renowned New York landmark and one of the most recognizable brands worldwide – for $675 million. After a well-planned $450 million major gut renovation of the one million, 100-year-old building, The Plaza was transformed into the most luxurious mixed-use building. It includes 180 private residences which all sold at a record-breaking price, 152 hotel condominium suites for sale, 131 over-sized hotel rooms and 160,000 square feet of retail space that houses ultra-luxury boutiques and North America's first luxury food hall. The Plaza's world-famous interior venues were restored to their original grandeur, and the project was completed in late 2007.

[PM] When did you found Naftali Group? Give us the background on the firm.

[MN] In 2011, I founded Naftali Group after developing major projects in New York, Los Angeles, Toronto, Montreal, and Singapore as well as taking our Canadian arm public and serving as the chairman of the board. I decided it was time to start my own company and focus my energy and time on designing and developing great buildings that are financially sound, instead of splitting my time dealing with public markets. Naftali Group was founded with a passion to be the best in class. We work with the most talented designers, engineers, brokers, and in-house executives, always pushing the boundaries and standards, and delivering high-quality results in all different market types.

[PM] Naftali Group has built quite an impressive record in NYC, can you tell us what have been some of the keys to your success?

[MN] We have always stood by our product and provided the highest quality possible for each development we deliver. Our company builds projects with timeless designs and great locations based on buyer demand. We prioritize listening to our buyers and delivering on their needs. It’s a simple formula in theory, but few can make good on these promises. That is what sets us apart; the ability to consistently create quality projects, time after time. We also have a strong team that is meticulous and detail oriented. From conversion to ground-up new construction, we have a rare ability to bring together talented teams to realize ambitious goals. Ultimately, our customers are what matter the most. In one of the most competitive and advanced real estate markets in the world, our customers have chosen to buy and rent our apartments even before our projects are completed, which is a testament to the quality of our work.

[PM] When did Miami come on Naftali Group’s radar? Tell us about the acquisition of the JEM property.

[MN] The decision to invest in Miami aligns with our company's strategy of expanding into premier geographic areas with strong growth potential and creating "best in class" developments at various price points. Miami has evolved tremendously over the past few years and the buyers have become more sophisticated and are seeking a better-quality product in residential apartments. The goal is to bring the expertise gained from global markets to South Florida, invigorating neighborhoods and setting a high standard for quality real estate products in the region.

[PM] Why was Downtown Miami and Miami Worldcenter so attractive to you?

[MN] Miami Worldcenter, located in Downtown Miami, is a well-known international hub that offers excellent walkability, making it an ideal location for development. The area is home to many entertainment and cultural institutions, including the Kaseya Center, Adrienne Arsht Center, Perez Art Museum Miami, Museum Park, and the Frost Museum of Science. Additionally, the neighborhood boasts a diverse range of dining options, high-end shops, and iconic waterfront, making it an attractive destination for both visitors and residents. For those seeking an urban lifestyle, the neighborhood offers plenty of transportation options without the need for a car. JEM Private Residences, strategically located near Brightline's Miami Central Station and metro-mover, make it easy to travel to various cities in Florida within Miami and other parts of the state. The project is also less than 10 miles from Miami International Airport, making travel in and out of the city convenient.

[PM] Tell us about JEM Private Residences, what makes this tower so unique?

[NM] We have collaborated with some of the world's most talented architects and designers to create an extraordinary building in Miami. Arquitectonica leads the building's design, Rockwell Group handles the interiors, and EDSA manages the landscape. The development is an urban oasis that boasts exceptional quality, craftsmanship, and construction that will stand the test of time.

JEM Private Residences is a 67-story building with 259 units ranging from 469 to 2,052 square feet. The condos start at the 43rd floor, offering breathtaking views of the Miami skyline, Biscayne Bay, and Atlantic Ocean. The building's top floor comprises 10 penthouses, with some having their own private outdoor pools. Amenities include the JEM Club on the 50th floor, which features a Sky Deck with a 60-foot pool, jacuzzi, and custom sculpture.

[PM] How is developing real estate in Miami different from New York City?

[MN] I joke that we thought it was difficult to get approvals and permits in New York, but Miami is even more difficult. Jokes aside, there are very different pre-construction processes in New York than Miami. The obvious is that we are able to sell much earlier in the process in Florida, which has allowed us to be creative and work alongside incredible partners here locally. While there are differences, what we do see is a shift in the type of product we are delivering in Miami. As more and more buyers come from New York to Florida, we want to be able to provide a product that appeals to the New York and international buyer. This is what has influenced our unit mix and make-up of this mixed-use development.

[PM] Your daughter Danielle works with you in an EVP role overseeing marketing and design, how special is it to share that family/work relationship?

[MN] Danielle learned the business from the bottom up, starting as a receptionist, moving to an administrative assistant in one of our sales offices, and learning every trick of the trade along the way before becoming our Executive Vice President of Marketing and Design. She is highly motivated, hard-working, and keeps pushing the quality of our work, so yes, it is special and rewarding to see the growth over time and it’s very helpful because I have more time to grow the business.

[PM] Besides real estate and work, tell us about some of your other hobbies?

[MN] Family and boating are my passions. I love being on the water, it is the only place I can relax.

[PM] Where can we find you in your day off? (Favorite restaurant, country club, boat, etc)

[MN] My days off are for either family or spending time on the water.

Image via PROFILEmiami | Renderings via Hayes Davidson

Check Out This Private Island At Ocean Reef Club Asking $75 Million

Nestled amidst the waters of the Florida Keys sits a rare opportunity, a 26 acre Private Island plus an additional waterfront mainland home within Ocean Reef Club. The private island island features a pool home, 12 one-acre developable waterfront lots, a 20-slip marina capable of accommodating a mega-yacht, three separate apartments, dockmaster office, a white sand beach and two tennis courts which convert to a helipad for a 10 minute flight to Miami. Modern infrastructure including fiber optic cable, water, & electricity, ensures seamless connectivity and convenience. The mainland property within Ocean Reef Club is a four-minute boat ride away and features a 100 ft. dock. The illustrious Ocean Reef Club features a private airport, two championship golf courses, a world-class 175-slip marina, impressive tennis & lawn sports facilities, full-service fitness center, salon and spa, medical center, oceanfront inn, and an array of shopping and fine dining options.

Pumpkin Key, 10 Cannon Point, Key Largo is listed for $75,000,000 with Liz Hogan of Compass.

Images via Legendary Productions

CRE Principals…You’re Leaving Money on the Table. A Lot of It.

Article By Matt Einheber, Principal at TitleEQ & Creator at TitleBox

Smart commercial real estate principals love finding the deal no one else knows about. 

Yet there’s an obvious deal out there that’s routinely being ignored - something that residential real estate brokers have been taking advantage of for years while CRE entities have been missing out. It’s a stream of impressive profits being left untouched, staring commercial principals in the collective face. By ignoring it, CRE entities have been leaving quite a bit of money on the table. 

Title and settlement services are not on the radar for most investors, sponsors, principals and other CRE decision makers. But for those willing to deploy the right joint venture, the opportunity for meaningful profits and a more streamlined operation can be huge.

You might be surprised at how big. Even smaller organizations can realize a passive seven-figure profit while simultaneously lightening their operational load. That said, it’s not an automatic win. There’s a lot to consider. 

Vetting an operational partner for a joint venture

Title is a deceptively complicated business to operate. It’s anything but simple and is critical in managing debts and liabilities against real estate, protecting value and managing a high risk and logistically complex transaction.  

Most title companies focus on residential transactions and don’t have the depth of knowledge to properly handle the more complex issues that are common to CRE. Very few have done much to make meaningful advancements in process, workflow and technology. In fact, it’s a bit of a surprise to realize how manual many title operations are… even some of the largest and best recognized in the space. 

These reasons alone should be enough to convince professional real estate buyers that the title or closing vendor should be vetted and chosen carefully. There’s a lot of value in deliberately choosing a title company to work with regularly. 

Introducing the prospect of a joint venture with a title operator usually brings up questions of compliance, profitability, operational competence, risk and more. Title is specialized enough that even most adjacent real estate pros don’t really know how to vet title firms or which common mistakes to avoid.

However, this choice brings with it risk with a disproportionately high reward. 

The title industry is still largely a dusty, antiquated space with a great deal of complexity in its operations (in spite of its continued reliance on manual processes). It takes an experienced operator committed to leveraging things like technology or third party service providers (where warranted) to maximize efficiencies and build optimal profit margins. Where that takes place, an affiliated closing operation not only provides the principal with greater control over the entirety of the transaction, but will super-sized profits as well. 

It's not just a simple matter of hiring the local title agency to build an affiliated arrangement. In many cases, moving without knowing how to properly vet your operating partner can be disastrous, and add time, tension and unnecessary expense (or delay) to your business. 

Here are the most important considerations to properly vet a potential title partner:

Experience and track record 

First, any operating partner you meet should, obviously, understand and have experience with title and closing. That sounds simple enough. They should also have significant supportive infrastructure. 

A big point is that the potential partner should be familiar with the markets in which your closings will occur. If you’re planning on closing deals not only in Miami, but in Port St. Lucie or Georgia or New York for that matter, be sure that your potential JV partner is an expert in the requirements and customs of those markets. Everything, including laws, rules, customs, workflow and dollars, can vary widely from not only state to state; but county to county and even city to city. 

Problem Solving

Potential JV partners should be the very best problem solvers. First principal thinkers. Investigators. Negotiators. 

It’s the job of your title representation to figure out how to ‘get to yes’ when it comes to negotiating with underwriters, lenders, buyers and sellers. 

If you’re an attorney or have ever been on the legal side of complex transactions, you’ll understand exactly what that means. The best title experts anticipate problems before they happen, create multiple possible solutions and know how to negotiate risk to protect you while delivering results. 

These people are invaluable to your attorneys and your organization at large. 

Technology and Solutions

There’s software to address almost every minor problem, but some of the biggest challenges come with choosing the right technology and best means of using it.  

It’s arguable that this is the single most common and biggest challenge for any business today in any industry. It requires determining what will help and what is a waste of money, then getting those otherwise disparate technologies to work fluidly together, first serving the client experience and then improving internal efficiency.  

This speaks to operational lift and profitability. 

Probably every business out there is wasting money on a platform or an app that’s just not helpful enough. I frequently encounter tech solutions to simple problems that amount to overkill.  The clunkiness of using multiple providers for a single process can be truly frustrating.

We all know that Proptech has been generally slow to catch up with other industries, and title is an exaggerated version of that. It’s not without reason, but times are changing. 

The best title JV partners serve as curators of the most effective technology. Because the closing process can vary so widely, there is no “universal” settlement platform or tech stack. The best closing firms build stacks that easily accommodate their clients’ needs as well as effectively addressing compliance requirements as well as market requirements.

At the same time, there are instances in which a title company is better served by leveraging efficient third party service providers to maximize efficiency and minimize expense. These operators also understand when it makes the most sense to make use of a national or centralized resource, and when using local expertise could actually create a smoother process. 

There are certainly problems technology can solve. There are many that are better served by humans, aided by the intel, focus and access that technology can deliver. Understanding how to find this balance, and keep the operation fluid and performing without getting distracted by shiny objects is the key.  Plus, the practice of continuously reviewing potential new solutions is something we should all value in our own businesses as well as with any new partner. 

Compliance 

As it relates to CRE, title insurance regulations fall under the jurisdiction of each state’s insurance department. 

Depending on the state, compliance can be reasonable and manageable, or can involve monthly/quarterly/annual audits, reporting, brick and mortar locations, data licensing by county, or other complicated requirements. 

Obviously, while making a play at profits, it simply isn’t worth risking your core business interests over legal matters. Choosing a JV title partner with solid compliance expertise and which has the resources to manage them is not optional. 

These are all factors to consider for CRE principals looking to capture additional revenue by controlling the closing process with an effective title JV. Those who aren’t sure where to start can begin by locating a seasoned title expert or third party consultant. It’s important that any “expert” understand how the principal works and what kinds of transactions and markets are most familiar to that principal. True “experts” also offer several options to consider, rather than leaning on one brand or firm for almost any situation.

Nobody intentionally leaves money on the table. Yet, for years, CRE principals have been happy to hand off an entire revenue stream to someone else’s “guy.” Perhaps that’s fear of the unknown. Perhaps too many principals simply don’t realize there’s true revenue to be had. The key is to partner with a firm that can build an operationally sound title organization and an efficient workflow. In doing so, CRE principals can potentially take what looks to be a pretty good year in the CRE market and make it great.

About Matt Einheber, Title EQ:

Matt is a principal of and the driving force behind TitleEQ, a national settlement services agency serving clients nationwide, and TitleBox, the developer of technology designed to streamline risk management in the title industry.

His experience with real estate transactions began in the early 2000’s in real estate finance, which led to settlement services and ultimately his move to start his first title company in 2005.

Since then, Matt has played an integral role in forging industry-shaping technology and business processes for the settlement and closing operations of title companies, underwriters, real estate brokers and agents across the country. Matt’s current focus is TitleEQ and its family of companies; the result of years of technology development and learned execution to approach real estate settlements in a way that’s very unique.

Nick Jonas and John Varvatos Set to Bring Rooftop Villa One Tequila Gardens To Miami Worldcenter

As Miami continues to evolve as an international destination for culinary innovation and vibrant nightlife, Villa One Tequila, co-founded by celebrities Nick Jonas and menswear designer John Varvatos, is bringing the essence of Mexico’s finest to Miami Worldcenter, the $6 billion mixed-use development activating Miami’s urban core. Designed for creating unforgettable experiences, Villa One Tequila Gardens will offer guests an exotic escape to unwind after work in the heart of Downtown Miami with over 150 tequila and mezcal options and Baja-style Mexican food.

Set to open in 2025, Villa One Tequila Gardens will occupy 12,294 square feet of rooftop space within the 27-acre mixed use development’s ‘Jewel Box’ retail building at 150 NE 8th Street, which will also be home to other recently announced dining and entertainment concepts including Starbucks, Earls Kitchen + Bar, Sports & Social, Sixty Vines and Bowlero. With vast views of the Downtown Miami skyline, the main dining room will feature a raw bar and tequila tasting room with a tequila sommelier and an intimate speakeasy operated by a soon-to-be announced nightlife brand.

As one of the largest privately owned and developed urban real estate developments in Florida, Miami Worldcenter, which is currently coming alive in phases, features a diverse mix of residential, commercial and hospitality uses complemented by a total of 300,000 square feet of retail, restaurant, and entertainment space. More than 93% of the development’s retail space is leased as of February 2024.

Miami Worldcenter is being developed by master developers Miami Worldcenter Associates, led by Managing Partners Art Falcone and Nitin Motwani, in partnership with CIM Group.

“Villa One Tequila Gardens will create a unique entertainment destination within Miami Worldcenter with a special rooftop experience unlike anything else in Downtown,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “Fusing Mexican-inspired cocktails and cuisine with modern Miami sophistication, guests will be transported to an exotic destination within Downtown’s dynamic urban core.”

Designed by KOM Studio, an international architecture and design firm established in Mexico City, Villa One Tequila Gardens will immerse guests in the Mexican lifestyle and its pure essence with luxurious textiles, shades of green inspired by agave fields, and accent walls with neon signs.

Villa One Tequila Gardens will join a growing roster of newly opened tenants and hospitality destinations at Miami Worldcenter, including three new food and beverage options by Ariete Hospitality Group’s Michelin-star-rated Chef Michael Beltran, Brasserie Laurel, Chug’s Express, and El Vecino Cigar & Cocktail Bar; national retail brands lululemon, Sephora, and Ray-Ban; the affordable luxury citizenM Miami Worldcenter hotel; and a Lucid Motors luxury electric vehicle showroom and service center.

Announced tenants set to open this year include an exceptional lineup of restaurants including local culinary gem JUVIA, coffee shop giant Starbucks, Chicago’s Maple & Ash, Serafina, Sweet Paris Creperie & Café, Earls Kitchen + Bar, Sixty Vines, and a dual-concept location for BurgerFi/Anthony’s Coal Fired Pizza & Wings; along with dining and entertainment concepts Sports & Social and Lucky Strike; a permanent location for the world-famous Museum of Ice Cream; and other nationally recognized favorites including The Container Store, Club Studio, Savage X Fenty, and Posman Books.

Retail leasing at Miami Worldcenter is led by CIM Group and Miami-based The Comras Company. CIM Group is a community-focused real estate and infrastructure owner, operator, lender, and developer. The Comras Company is a leading, boutique real estate firm providing retail leasing, asset sales, consulting, and development advisory services throughout South Florida.

“Villa One Tequila is a one-of-a-kind bar and restaurant that brings another dimension in dining to Miami Worldcenter. It is an example of our focus on activating the property’s outdoor spaces and rooftops to provide a wealth of opportunities for guests to enjoy the beautiful setting and area views,” said Shaul Kuba, Co-Founder and Principal, CIM Group.

Miami Worldcenter is now home to three completed residential towers – PARAMOUNT Miami Worldcenter, Caoba, and Bezel Miami. Additionally, construction is nearing completion at Lalezarian’s 52-story Miami World Tower 1, which will comprise 550 apartment units; at Legacy Hotel & Residences, a 50-story mixed-use tower with 310 branded residences atop a hotel and 50,000 square feet of medical office space; at the second phase of Caoba, which will encompass an adjacent 40-story tower with 420 apartments; and at The Crosby, a 450-unit turn-key condominium by Related Group and Merrimac Ventures.

Planned developments include three additional residential towers developed by Lalezarian with 2,000 multifamily units; 600 Miami Worldcenter, a 579-unit fully furnished condominium by Aria Development Group and Merrimac Ventures; JEM Private Residences, a 67-story mixed use luxury residential tower with 259 condos and about 500 apartment units by New York-based developer Naftali Group; a two-tower mixed-use residential and commercial development by Abbhi Capital; and a three-tower mixed-use residential project by The Witkoff Group.

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

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

Renderings via KOM Studio