Four Seasons Hotel & Private Residences Fort Lauderdale Tabs Coastal Construction As General Contractor

Following the announcement that Four Seasons Hotel and Private Residences Fort Lauderdale is more than 50% sold, Miami-based development company Fort Partners celebrated the success and progress of the luxury development at an exclusive luncheon announcing their selection of Florida-based construction company Coastal Construction as the general contractor for the project with premier construction management company Lehrer Cumming overseeing construction of the luxury tower. Fort Lauderdale Mayor Dean Trantalis also addressed the audience, speaking to the state of the city’s real estate market, highlighting the growth and transformation of Fort Lauderdale into an international destination. Upon completion, Four Seasons Fort Lauderdale will be one of Fort Partners’ iconic properties within the Four Seasons portfolio and Fort Lauderdale’s first true five-star destination.

“Four Seasons Hotel and Private Residences Fort Lauderdale is making incredible strides to help redefine this city as an international destination, and we are pleased to celebrate our recent success as we progress towards completion,” said Nadim Ashi, Founder of Fort Partners. “We’ve selected the best industry leaders to oversee this monumental development throughout each stage of development, and are thrilled to welcome both Coastal Construction and Lehrer Cumming to our team.”

Coastal Construction is one of the Southeast’s preeminent construction companies and is ranked in the top 100 construction management companies in the country. The firm has a distinguished roster of clients including Fort Partner’s distinguished development, The Surf Club in Miami, as well as Porsche Design Tower and Miami Beach’s Faena District. Led by Chairman and CEO Thomas P. Murphy, Jr., Coastal Construction was founded in 1988 and has been under the Murphy family’s leadership for four generations.

“Coastal Construction is honored to have been selected by Fort Partners as the general contractor of record for Four Seasons Hotel and Private Residences Fort Lauderdale. It is a privilege to once again work with the Fort Partners development team, on this transformative tower which is setting a new benchmark for luxury living in Fort Lauderdale,” said Thomas P. Murphy, Jr., Chairman and CEO of Coastal Construction.

The 22-story hotel and condominium development will offer 130 guest rooms and 90 residences ranging in size from one- to four-bedrooms, with each residence offering sprawling living spaces and generous outdoor terraces with unparalleled views of the Atlantic Ocean and Intracoastal Waterway. Residents will receive special courtesies at Fort Partner’s premier portfolio, including Four Seasons Hotel and Residences at The Surf Club in Surfside, Four Seasons Resort Palm Beach, and Norman’s Cay, an exclusive island in the Bahamas. Four Seasons Fort Lauderdale broke ground in spring 2018 and construction remains on schedule. Pricing for two- to four-bedroom private residences begins at $3.795 million.

For more information about Four Seasons Hotel & Private Residences Fort Lauderdale, private showings, availability or purchasing/ leasing information please fill out the form below:

Check Out The Newly Revealed Renderings Of The RTKL-Designed Plaza Coral Gables

New renderings have been revealed of Plaza Coral Gables, the largest project to ever be built in Coral Gables, valued at over $600 million. Construction on the project, which was formerly proposed as Mediterranean Village by developer Ralph Sanchez, is currently underway after Phase 1 broke ground in Summer 2018. The Plaza Coral Gables is now being developed by Agave Ponce, LLC., an affiliate of the Cuervo Tequila Company. The Plaza Coral Gables, which was designed by RTKL, will offer over 2.1 million SF of total development spread over roughly 7 acres. When complete the project will offer 174 luxury rental apartments, 242 hotel rooms, 161,000 SF of retail, 447,000 SF of office space spread over 2 towers and 2,400 parking spaces. A completion date for Phase 1 is expected in 2020 before the developer will break ground on Phase 2 and Phase 3.

Miami Beach's Historic Seymour Hotel Designed By B. Kingston Hall Has Sold For $2.2 Million

Miami Beach’s historic Seymour Hotel has sold for $2.2 million after being on the market for 5 weeks with a closing in just 30 days. Designed by famed art deco Architect B. Kingston Hall in 1936, the tropical art deco building features 17 rooms, 12,414 SF total, and is in the center of the nation’s only historic district composed entirely of twentieth-century structures. The property is located at 945 Pennsylvania Ave, 2 blocks from South Beach’s exclusive Ocean Drive and near high-end hotels, apartments and restaurants. Manny Chamizo III, Global Commercial Director of ONE Sotheby’s International Realty, represented the seller.

Photos via Manny Chamizo / ONE Sotheby’s International Realty

YOTELPAD Miami Reaches 50% Sold Six Months After Launching Sales In Downtown Miami

Aria Development Group, a New York and Miami-based real estate investment and development company, along with joint venture partner, AQARAT, one of Kuwait's leading real estate companies, has announced that YOTELPAD Miami is now 50% sold just six months after launching sales in June 2018. OneWorld Properties led by Peggy Olin is the exclusive sales and marketing team for YOTELPAD Miami. The mixed-use hotel and residential development, which will be the first YOTELPAD on the East Coast, is located in Downtown Miami and is slated for completion in early 2021. The development’s attractive short-term rental options without any restrictions and leaseback program offer owners flexibility. More than 40% of YOTELPAD Miami’s buyers are investors from Mexico and China with a substantial amount of investors also coming from Argentina, Colombia and other South American markets.

“Our team has sold over 18 units per month over the last six months – that is 111 units and counting. This is something we have not seen in Miami in a long time,” said Peggy Olin, president and CEO of OneWorld Properties. “Buyers understand the value and freshness of the YOTEL brand and are looking for flexibility and a prime location. Miami serves as a significant gateway to global markets and has one of the largest financial districts in the U.S. Our team was able to take all the incredible elements of this project and the Downtown area to deliver the right product for this market.”

“The realization of YOTELPAD is a major milestone for Downtown Miami,” said David Arditi, principal of Aria Development Group. “It’s the first time a global hospitality brand will offer luxury living at an attainable price point. The innovative PAD concept, with its clever and adaptable floorplans and flexible rental options, is being received with great enthusiasm by local and international buyers alike. We are excited to forge ahead with construction and bring this highly-anticipated project to life.”

Upon completion of the project, YOTELPAD Miami will incorporate three Techi robot butlers capable of delivering beverages, food, gifts, documents and more. Raising the standard for residential amenities, two robots will be available to residents and one will be designated to guests of the hotel. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings. Other amenities include concierge services, secure bike storage, gourmet matcha bar, full-service restaurant and bar with outdoor seating and private dining, state-of-the-art fitness center, co-working space, a lounge, pool deck and pet salon. In addition, each PAD will come with a dedicated storage unit. Global design and engineering firm Stantec is the lead architect, interior designer and engineer for the project.

“As global experts in the residential real estate market, we believe in YOTEL’s new ‘live smarter’ PAD concept,” said Fahad Al-Shamlan, vice president of Investments & Acquisitions for AQARAT. “Our partnership with Aria Development Group on this project will transcend the boundaries of luxury in high-end resort destinations for the modern person.”

The 31-story YOTELPAD Miami, which is located at 227 NE 2nd Street and designed by Stantec, will feature 222 Yotel-branded “cabins” (hotel rooms), 231 “PADs” (condominiums) and amenities such as a Skytop Lounge, pool deck with restaurant and bar, fitness center, co-working space and pet spa. The hotel portion is located on floors 2-12 with the condominiums on floors 15-30. Condominium owners and residents will have access to exclusive amenities such as a 2,000 SF “Lounge in the clouds” with game area and chef’s kitchen. The high-tech units include studios to one- and two-bedrooms and range in size from 417 SF to 708 SF with top-of-the-line flooring and lighting, floor-to-ceiling glass windows, custom European cabinetry and Smeg brand Italian appliances. YOTELPAD Miami is scheduled for completion in early 2021.

For more information about YOTELPAD Miami, private showings or purchasing/ leasing information please fill out the form below:

PMG, Greybrook Realty Partners & S2 Development Lock Down $33 Million Pre-Construction Loan For Waldorf Astoria Hotel & Residences

Property Markets Group, Greybrook Realty Partners and S2 Development have locked down a $33 million pre-construction loan which will be financed by the Miami-based BridgeInvest. The financing will be used to obtain final permits and approvals as well as market the property and launch sales of the residential luxury condominium component. The developers are currently building out the on-site sales center at 300 Biscayne. PMG had initially put sales on hold pending the Miami condo market stabilizing but now is gearing up introduce the luxury condos to the market.

When complete the Waldorf Astoria Hotel & Residences will be Miami’s tallest tower, rising 1,049’. The tower is being designed by Sieger Suarez and is expected to have a sell-out over $1 billion. The Waldorf Astoria Hotel & Residences will feature 140 hotel rooms and 400 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc. Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others.

For more information about The Waldorf Astoria Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Related Group Sells SLS Brickell Hotel For $43 Million

The Related Group has sold the hotel component of SLS Brickell for $43 million to an entity managed by Francois Faber of Fiduciaire Fernand Faber, who has also signed an agreement with SBE for the continued management of the property. The 55-story development, which was completed by Related Group in 2016 and designed by Arquitectonica, features both a condo component with 450 condos and a hotel component which features 124 hotel rooms. The sale accounts to roughly $347,000 per key, with the rooms designed by Philippe Starck. The building also houses celebrity chef José Andres’ Bazaar Mar and Fi’lia by Michael Schwartz. Other amenities include a gym, spa, 10th floor pool deck, theater room and concierge services. The sale marks the second SBE managed hotel sale by Related Group this development cycle after it sold the Hyde Midtown hotel to Haim Yehezkel’s Midtown Hotel Investment LLC for $21.8 million in April 2018.

Metronomic Reveals $74 Million Mixed-Use Transformation of Grand Avenue in West Coconut Grove

West Coconut Grove, one of the hottest neighborhoods for development in Miami that has seen a massive transformation over the past 3 years, will be getting a massive new mixed-use project on the Grand Avenue corridor. Metronomic is under contract to purchase a 12 property assemblage at 3280-3461 Grand Avenue for $25 million with a closing date set in mid-February 2019. Metronomic, led by Ricky Trinidad, has proposed a $74 million, 297,000 SF mixed-use development that would feature luxury apartments, affordable housing, retail, office space, community parks, public parking and a 44-key hotel. Trinidad hopes receive FAA approval to build a rooftop helipad. The project is designed by Pablo Burgos of Burgos Lanza & Associates and Carl Levin of CLAD Architects.

The project would be built in multiple phases with the first being Metronomic Place, which will feature a boutique office building and the hotel component at 3280 Grand Avenue. Metronomic expects to break ground on Metronomic Place before the end of 2018 after locking down a $6.8 million construction loan financed by Fuse Funding. Metronomic Place will rise 5-stories and will feature the 44-key hotel, 5,000 SF of Class A Office Space, 3,200 SF of ground floor retail. Phase 2 would begin in March after the closing and would include the build-out of the rest of the project to be completed within 2 years. Phase 2 will include 38 furnished micro units, 82 luxury apartments rentals and 40 affordable housing units along with a public area for farmers markets and stage for live performances.

Zyscovich Architects-Designed Wynwood Quarter Project Revealed Including Micro-Units

Bel-Invest’s Zyscovich Architects-designed Wynwood Quarter project has been revealed as the developer has submitted plans for the first building for review by the Wynwood Design Review Committee. In total the mixed-use project will feature 6 buildings which include 276 residential units, 120 hotel rooms and 51,334 SF of retail. Of the residential component, a selection of units will be micro-units with 400 SF studio apartments. The project is located at 161 NW 28th Street.

Voters Approve Privately Funded Miami Beach Convention Center Hotel

In the highly anticipated election on Tuesday night, Miami Beach residents approved the construction of an 800-room convention center hotel. The referendum needed a 60 percent vote in order to lease public land from the city and passed at 64 percent in its third attempt to bring a headquarter hotel to Miami. The hotel will be built on a city-owned parking lot adjacent to the newly renovated convention center.

The previous attempt in 2016 failed due to concerns over the size, originally twice as large as the current proposal, and traffic congestion. The tourism bureau estimates Miami Beach lost at least $250 million in economic revenue over the last several years because it was unable to accommodate larger scale conventions.

South Beach resident Andres Montejo, 43, said that the convention center hotel was one of the issues that drove him to the polls. Montejo, a businessman who travels frequently for work, said that the other cities he visits already have hotels connected to their convention centers.

“A convention center is great, but without a hotel it’s just another convention center,” he said after casting his ballot at Miami Beach Senior High School. “Anybody that travels ... you know that’s how the game works. It’s like that all over the world.”

Other residents, annoyed with the constant flow of construction and resulting noise and traffic in the area, decided to vote against the hotel.

The hotel will connect to the convention center via a pedestrian bridge and include a 53-foot podium containing parking, meeting spaces and ballrooms as well as two 185-foot-tall wings of hotel rooms. Voters authorized the lease and the construction of an 800-room hotel with a maximum height of 185 feet, but specifics of the hotel design will be evaluated by the city’s Design Review Board at a later date.

The group behind the proposal — Turnberry’s Jackie Soffer, Terra Group’s David Martin, Miami Design District developer Craig Robins and architecture firm Arquitectonica — emphasized that the hotel would be roughly 100 feet shorter than the previous proposal and include six times more space for cars to queue on the property so that they don’t spill onto the street.

“This is the right project for our city at the right time, and Jackie, Craig and I look forward to working with the community to deliver a hotel that will make Miami Beach proud,” said developer David Martin.

On a related ballot item, residents voted to earmark the guaranteed hotel rent payments for traffic reduction measures, stormwater projects and education initiatives, rather than sending the money to the city’s general fund where it could be used for a broader range of expenses.

According to the terms of the lease agreement, the hotel will have to pay Miami Beach either fixed rent totaling $16.6 million over the first 10 years or a percentage of hotel revenue, whichever is greater. Miami Beach estimates that the city will also collect $96 million in taxes from the hotel over the next 30 years.

Article by: Katya Demina

Voters Approve David Beckham's $1 Billion Freedom Park By Waiving Competitive Bidding On Election Day

Miami-Dade voters have approved a referendum waiving competitive bidding for the right to redevelop Melreese Country Club into a $1 billion mega-project complete with office, retail and commercial space and a soccer stadium.

The referendum allows the negotiation and execution of a 99-year lease with Miami Freedom Park, LLC. for 73 acres of the Melreese Country Club site at 1400 Northwest 37th Avenue. Miami Freedom Park, LLC. is comprised of David Beckham, Sprint CEO Marcelo Claure, and brothers Jorge and Jose Mas. As per the agreement, the group will pay an annual rent of at least $3.6 million, or fair market value as determined by two independent appraisals, plus $20 million to fund construction of a 58-acre public park, paid in annual installments of $666,667 for 30 years.

The Arquitectonica-designed proposal includes 400K SF of office space and 600K SF of restaurant, retail and entertainment space; along with 750 hotel rooms and a 25,000 seat soccer stadium with only 3,750 parking spaces. The city will be on the hook to redevelop and maintain the remaining land at the site at the expense of tax payers.