Inside The Miami Beach Market Update Panel Hosted By JDS & Douglas Elliman At Monad Terrace

Douglas Elliman and JDS Development hosted an in-depth panel discussion on July 26 exploring both developing and selling Monad Terrace as well as reviewing Miami Beach's current real estate market. The panel gave listeners insight from industry titans Jay Parker, CEO of Douglas Elliman Florida and Michael Stern, founder and Managing Partner of JDS Development. The discussion was led by Lena Katz, a writer at Forbes and was hosted in the sales gallery at Monad Terrace. Parker and Stern explored the strength of the Miami Beach luxury real estate market and how there has been steady demand and still rising prices. The duo also discussed how the location of Monad Terrace allows residents to enjoy Miami Beach as a walking city, not needing to wait in heavy traffic during high times such as Art Basel and Miami Music Week. Stern also credited Jean Nouvel for the unique design of the building and how the highly amenitized project has had steady sales under the watchful eye of Douglas Elliman Development Marketing. 

Residences at Monad Terrace range from two- to five-bedrooms and 1,453SF to 5,350 SF of interior space. Features include private elevator access, custom kitchens and bathrooms by Jean Nouvel and sprawling outdoor terraces. The building offers a true indoor-outdoor living experience, featuring climbing gardens and reflecting pools that complement the property’s central lagoon and ocean views. 

Construction on the project is well underway and is expected to be completed in fall 2019. The project's design, which was designed in collaboration with the Miami based Kobi Karp fuses environmental responsibility with innovative climate resilience features into the architecture, starting by elevating the building 11.5', well over Miami Beach standards.The tower is expected to go vertical in Spring 2018 and estimated to be completed in Fall 2019. Sales and marketing for Monad Terrace is managed exclusively by Douglas Elliman Development Marketing. 

Check out PROFILEmaimi's coverage of Monad Terrace

PROFILEmiami Presents An In-Depth Exploration Into Short Term Rentals In Miami & South Florida

Short Term Rentals. A triggering and controversial term in Miami. Unless you live in a cave you have probably used a site like AirBNB to book a room to travel or host visitors in your own pad. Short Term Rentals have been all the rage in Miami as investors have flocked to buy properties approved for short term rentals as unsuspecting guests have been ambushed by police trying to enforce Miami Beach's strict short term rental laws. Fines have never been higher and the cities are adjusting every day.

PROFILEmiami is leading an in-depth exploration into short term rentals with an All Star list of panelists including David Arditi, Developer of YOTELPAD, and Ben Breit, Public Affairs Manager for AirBNB Florida. Enjoy complimentary open bar wine and cocktails as we explore topics including how do you property invest in short term rentals? What are your actual legal rights as a host or guest and how may they change? What is the relationship between cities in South Florida and hosts offering short term rentals? How are host platforms such as AirBNB working with cities in South Florida to address problems that have arrisen? Amongst others.

Speakers:

• David Arditi, Aria Development/ Developer of YOTELPAD
• Ben Breit, Public Affairs Manager for Airbnb Florida
• Dana Goldman, Vice Mayor of City of Sunny Isles Beach
• Rodolfo Manzon, Spectrum Realty Group
• Moderated by Demetri Demascus, Publisher of PROFILEmiami

Date: August 21, 2018
Time: 7-9 PM
Location: Brickell Hive, 1548 Brickell Ave, Miami, FL 33129

RSVP: https://miamishorttermrentals.eventbrite.com

Drinks & Light Bites provided by PROFILEmiami & Spectrum Realty Group

Complimentary Parking @ 1770 Brickell Ave. (Immanuel Lutheran Church)

Sponsored By: PROFILEmiami, Spectrum Realty Group, Game Day Skincare & Creative Glue

Douglas Elliman Florida Brokerage Relocates Design District Office To MiMo With Lavish Ribbon Cutting Reception

Douglas Elliman has officially opened its newest Florida office in Miami’s MiMo District located at 5555 Biscayne Blvd., replacing its previous Design District location. The full-floor 6,000 SF location houses the firm’s Miami Design District agents along with additional office space for new recruitment, Douglas Elliman Development Marketing Miami-Dade operations, public relations and marketing teams.

The firm marked the occasion, its continued growth to now with more than 1,000 agents throughout Florida and continued expansion into new regions, with a grand opening celebration on June 27th. Douglas Elliman President and COO Scott Durkin, CEO of Florida Brokerage Jay Phillip Parker, COO of Florida Brokerage Gus Rubio and Managing Broker Judith Corcos, held a ribbon cutting ceremony followed by a cocktail reception to launch the brokerage’s new office location. Guests were treated to wine and champagne along with hors d'oeuvre at the event attended by some of Miami's top real estate professionals. 

“We are pleased to offer our clients, agents and corporate team members a larger convenient office location in Miami’s MiMo District,” said Jay Phillip Parker, CEO of Douglas Elliman Florida Brokerage, “We look forward to expanding our strong foothold in the district and welcoming new agents as we continue our expansion across Florida.”

The MiMo District office will be led by Managing Broker, Judith Corcos, who previously spearheaded the previous Miami Design District location, and will showcase area developments along with a portfolio of properties for sale throughout South Florida. The beautiful, modern office features handmade lighting fixtures by Marivi Calvo and Sandro Tothill of LZF, 3D paneled walls and selected art work to complimenting and paying homage to the historic yet growing cultural scene of Miami’s MiMo District and Miami Design District. 

“As we continue to recruit the best-in-class agents, we are excited to offer our current agents and future prospects a newly designed space located in the heart of South Florida’s evolving MiMo District,” said Judith Corcos, Managing Broker of Douglas Elliman’s Aventura, Bay Harbour and MiMo District offices.

Some Outraged Downtown Residents Have Made A Move Against The City of Miami For Ultra & Formula 1 Proposal

Not everyone can always be happy, no sooner then Miami had made strides on the world stage to host the Formula 1 Miami Grand Prix in the streets of Downtown Miami, had a group of 11 residents moved against the city. Some Downtown Miami residents have teamed up and sought legal council combatting the city hosting Ultra Music Festival in Downtown's Bayfront Park and the city's bid to bring a Formula 1 race to the streets of Downtown and PortMiami as early as October 2019. The residents, who live in 50 Biscayne and Epic, have sent a Cease and Desist letter to the city. The proposed 2.57-mile course would run through Downtown Miami's Biscayne Boulevard, American Airlines Arena and PortMiami. The letter alleges that both the Formula 1 Miami Grand Prix and "mega events" such as Ultra Music Festival and Rolling Loud Festival, all violate the City of Miami's noise ordinance, which in turn negatively affects the health of nearby residents and their property values. 

Ultra Music Festival has garnered much attention for the city of Miami, helping aid to boost property values and tourism. If looking at cities such as Monaco, property values on the race course have been boosted by popularity and a condo-hotel such as Epic benefits greatly from major events in near proximity. The noise ordinance clause has been used against other Downtown venues including the nightclubs behind Marquis Residences, Ten Museum, One Thousand Musuem, 900 Biscayne and Marina Blue. The difference between the two cases is one targets events which bring millions of dollars of benefit to the city and its taxpayers, typically operating during the day, while the clubs in question operate at late night hours with resident complaints coming between the hours of 2 am and 6 am with private prosperity. 

Ultra Music Festival was sold out in 2018 with a record-breaking attendance of 165,000 and over 30 million online streams. Ultra Music Festival is renegotiating their lease for hosting the festival in Bayfront Park, with Miami commissioners asking for rent to rise to $2 million. Ultra Music Festival currently pays around $1 million annually to host the festival at the site. Formula 1 does not yet have a deal in place, although city commissioners approved the race in a unanimous 5-0 vote in May 2018. Formula One has 500 million global fans and currently hosts 21 races across five continents which are broadcast to over 1.8 billion viewers. Hosting a Formula 1 Grand Prix's economic impact on Montreal is around $65 million and Formula 1 claims the Formula 1 Miami Grand Prix could produce over $700 million annually for the city. Set-up time could take up to 3 months while clean up would take 2-3 weeks. The city expects to be sued over the matter. 

Watch The Full Panel From PROFILEmiami's "State Of The Sunny Isles Real Estate Market Event"

Local leaders, luminaries and real estate professionals converged at The Ritz-Carlton Residences, Sunny Isles Beach sales gallery on May 2, 2018 for an in-depth discussion about the state of the Sunny Isles Beach real estate market. Fortune International Group and Château Group, developers of The Residences, hosted the panel in tandem with real estate news outlet PROFILEmiami, spotlighting important insights about the City and its continued growth. Attendees of the breakfast event were locked in discussion about the strong retail and development growth that has taken hold in Sunny Isles Beach, including an analysis of some of the major factors that have contributed to the area’s recent construction boom.    

Panelists:

• Edgardo Defortuna, President and CEO of Fortune International Group
• Dana Goldman - City of Sunny Isles Beach Vice Mayor  
• Jorge L. Guerra Jr., President of the Miami Association of Realtors
• Boris Kozolchyk, Colliers International Executive Vice President
• Moderated By: Demetri Demascus, Founder PROFILEmiami 

Watch the video above or: https://youtu.be/fzwuJXa1h_4

Watch the Coffee Hour: https://youtu.be/pIrPpWrSUu8

Check out the full gallery and get the inside scoop from PROFILEmiami Present's "The State of The Sunny Isles Real Estate Market Panel"

PROFILEmiami, REALDAX & Creative Glue Present Blockchain in Real Estate On June 28 6-8 PM In Little River

Real Estate is one of the oldest industries in the world with the least amount of true innovation. Blockchain technology, on the other hand, has only been around a few years but has been disrupting industries left and right, including Real Estate. We believe cross-industry collaboration fosters innovation, and that shifting traditional contexts, we can usher in new perspectives. Drawing from multiple pools of knowledge and ways of looking at things will bring novelty and creativity to the table.

At this Crypto Hour, "Blockchain in Real Estate," we will be discussing the different areas of the real estate industry that Blockchain technology can innovate. This includes: Brokers/Agents, Escrow/Legal, Mortgage Brokers, Direct Lenders, Title Insurance, and Deed/Title Registration.

Some of the question you may have that we're going to answer:

• Is it possible to close an RE transaction with Cryptocurrency?
• What would be required for Blockchain to be established in real estate?
• How does the mortgage industry view crypto assets when issuing loans?
• Is Title Insurance going to be a thing of the past?
• Do I have to worry about not having a job in the future?
• And more!!!

A big thank you to our sponsor's and partners who are helping make this all possible:

• 360 Spaces, a beautiful new Co-working space located right in Little River, for their amazing venue!
• Creative Glue, an experiential marketing, and event production agency that aims to bridge the gap between business and creativity.
• PROFILE Miami, who is your one-stop destination for Miami Real Estate news and content. They provide up-to-date coverage on the hottest new developments, market trends, and the coolest homes in Miami's ever-changing landscape.

Also a big thank you to our partners who are going to be keeping us refreshed at this event - Hooch, Wynwood Brewery!

RSVP: bit.ly/360blockchain

Panelists:

• Jorge Guerra Jr. - President for the Miami Association of Realtors
• Hector Garcia - RKTR Agency
• Demetri Demascus - Founder of PROFILEmiami & Investor
• Twinee Villanueva - IHouse Token
• Moderated By: Spencer Lyon - REALDAX

Agenda:

• 6:00 - Check-in / Networking
• 7:00 - Panel Talk
• 7:45 - Q&A

The Optimum Tops Off In Coconut Grove, The Neighborhood's First New Class A Office Building In 25 Years

Optimum Development USA, a global real estate investor and developer, has officially announced that “The Optimum,” their new five-story luxury Class A office building in Coconut Grove, has officially topped off. Optimum Development and the tower’s general contractor, Grycon Construction, commemorated the occasion with a luncheon on Friday, June 1st for over 150 construction workers, engineers and other contractors involved, in celebration of the project’s momentum and Optimum’s commitment to enhance Coconut Grove’s revitalization. The milestone event featured remarks from from Mayor Francis Suarez, Optimum Development CEO Ricardo Tabet and Grycon Construction executive Eric Helitzer. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be a part of the exciting citywide transformation underway in Coconut Grove,” said Ricardo Tabet, CEO of Optimum Development USA. “We look forward to delivering the area’s first new Class A office building in more than 25 years and welcoming our new tenants. The ideal location on Main Highway has proven to be a strong attraction to small and mid-size businesses, who appreciate the ease of access to all of Coconut Grove and close proximity to Coral Gables, Brickell, Key Biscayne and downtown. The Grove’s charm and pedestrian friendly streets and shops are luring a vibrant mix of professionals.”

The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The 50,500 SF midrise luxury office development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed later this year (2018).

Check-out PROFILEmiami's coverage of The Optimum's August 2017 groundbreaking

Watch the Full Panel From PROFILEmiami's Exploration into Miami's Art In Public Places Initiative

Real estate news platform PROFILEmiami hosted a thought-provoking symposium about Miami’s Art in Public Places program. Hosted on March 28, 2018, the special panel event, which took place in downtown Miami’s Arts + Entertainment District in the CANVAS condominium tower being developed NR Investments, put a spotlight on future development in the city and explored best practices for the ongoing incorporation of works of art in real estate projects. 

Panelists Featured:
- Jeremy Calleros Gauger, Deputy Director of the Planning Department for the City of Miami
- Steven Gretenstein, Dacra COO
- David Polinsky, Fortis Design + Build Principal
- Gary Ressler, TILIA Companies Principal  
- Nir Shoshani, NR Investments Principal and A+E Co-Founder
- Moderated by: Demetri Demascus, PROFILEmiami Publisher

Guests, who were treated to cocktails and hors d'oeuvres by PROFILEmiami, additionally had a question-and-answer session with the panelists, getting the opportunity to delve into important topics and gain insights regarding unique initiatives unfolding within the city.  Before the panel began, CANVAS and NR Investments also hosted hardhat tours of the property, showcasing several of the condominium building’s 170-foot interior wall murals – all of which are being painted by urban contemporary artists from around the world.

Watch above or: https://youtu.be/pU2om2b0wpw

Check out the full gallery and inside scoop from PROFILEmiami Present's Miami's Art in Public Places Initiative Panel Hosted With CANVAS

Miami May Become Part Of The NFL's 5-City Super Bowl Rotation Starting in 2020

Miami may become part of a proposed 5-city rotation to host the Super Bowl, a cycle of which the 2020 Super Bowl LIV in Miami would kick off. The event would take place in the city every 5 years, cycling through Las Vegas, Las Angeles, either Arizona or New Orleans, and a wild card city. Super Bowl LIV in 2020 will take place during the NFL's 100 year anniversary. The city of Miami will be completely transformed with programming that engages all of Downtown's waterfront from the Pérez Art Museum Miami, Bayfront Park, American Airlines Arena and Bayside to the Intercontinental Hotel. The 2020 Super Bowl Host Committee anticipates over 50,000 people who do not attend the game will come to Downtown to celebrate and take part of the festivities. The host city celebration will take place in Miami-Dade as opposed to Miami-Dade, Broward and Palm Beach County, as was the case with past South Florida hosted Super Bowls. This was part of a concession by the city in an agreement with Stephen Ross, owner of the Miami Dolphins, who spearheaded the renovation of Hard Rock Stadium. 

Check out the video of Downtown Miami's transformation for 2020 Super Bowl LIV:

Formula One Is Coming To Downtown Miami In 2019 After City Commissioners Vote Unanimously

Last week the Miami City Commission voted 5-0 to bring a Formula One Grand Prix to Downtown Miami. Set to be part of Formula One's 2019 schedule, most likely in October, and will give the circuit a second event in the United States. The vote approved Resolution No. 22, which approves bringing a Formula One race to the city, Formula 1 Miami Grand Prix, from 2019 through 2028. The 2.57-mile course will run through Downtown Miami's Biscayne Boulevard, American Airlines Arena and PortMiami; although 4-time World Champion Lewis Hamilton, who is ecstatic about the race coming to Miami, has said that he would like to see changes to the proposed track. Promotions will be handled by Related Companies' and Miami Dolphins' owner Stephen M. Ross via his Ross Initiative in Sports for Equality (RISE). 

The approval of Formula One to come to Miami will bring a major, positive economic impact to the city. Formula One has 500 million global fans and currently hosts 21 races across five continents which are broadcast to over 1.8 billion viewers. The U.S. Grand Prix, which takes place in Austin, has attracted over 200,000 visitors to the city during race weekends. Adding races in the United States has been a goal of Liberty Media Corp. who acquired Formula One in 2016 for $1.1 billion in cash, 138 million Liberty Media shares and $351 million worth of an exchangeable debt instrument, issued by Formula One, which can be exchanged for shares of Liberty Media. Liberty Media also assumed $4.1 billion in Formula One's current debt. Liberty Media is also aiming to host races in the Las Vegas and New York markets which should further bolster the sports' fast growing popularity in the U.S.