Plans for Okan Tower Featuring Five-Star Hilton Hotel & Resort Fast Tracked on Heels of Border Reopening

On the heels of the U.S. border reopening to international travelers yesterday and preparing for the influx of overseas buyers anticipated to return to Miami, Okan Group announced that it has relaunched sales for Okan Tower, a 70-story mixed-use tower located at the epicenter of Miami’s urban core. Having put the project on pause in the wake of COVID-19 restrictions and quarantines on international travel, the world-class development team has turbo-charged their plans and reimagined Okan Tower with the introduction of new floor plans, ten new lofts and an exciting all-weather, glass-enclosed rooftop deck and observatory at the pinnacle of the tower.

The 70-story architectural masterpiece will be anchored by Hilton Hotels & Resorts and features an all-star roster of design, development and co-branding partners, including Okan Development, internationally-renowned architecture firm Behar Font Architects, and Fortune Development Sales. Okan Tower is located in the epicenter of Miami’s urban core at 555 North Miami Avenue. The mixed-use tower will be a monument of the future as Downtown Miami has been reinvigorated by the allure of an ultimate live-work-play destination. The influx of corporate relocations to downtown, Florida’s favorable tax benefits, addition of the flourishing Miami Worldcenter, and the coexistence of new dining, hip shops, and entertainment venues such as the Frost Museum, PAMM, Adrienne Arsht Center and FTX Arena has created an urban utopia desired internationally.

Uniting a diverse collection of mixed-use elements in one vertical destination, the project will present 163 Sky Residences with exclusive owners-only amenities, 236 Condo-Hotel Residences, a five-star Hilton Hotel & Resort with endless amenity and entertainment areas, and Class A Office Space all accessible by separate elevators for Sky Residence owners and Condo-Hotel owners and hotel guests.

“Okan Tower will further position Miami’s reputation as a global design and architectural destination. With its distinctive ultra-modern aesthetic, Okan Tower brings Miami into the international design spotlight once again, while also offering every imaginable amenity and service desired – if not demanded – by the world’s most sophisticated prime property buyers,” said international property magnate and developer of Okan Tower, Bekir Okan, Chairman of Okan Group.

Having put the project on pause in the wake of COVID-19 restrictions and quarantines on international travel, Okan added, “Now, with international travelers and buyers back in Miami, our development team has worked closely with our exclusive sales and marketing brokerage, Fortune Development Sales, to turbo-charge our plans and reimagine Okan Tower with the introduction of new floor plans, ten new lofts and an exciting all-weather, glass-enclosed rooftop deck and observatory at the pinnacle of the tower.”

“Okan Group has assembled a world-class team and we are very happy to be a part of this project by leading sales and marketing efforts. Okan Tower offers a superlative lifestyle with its best-in-class architecture, amenities, services and convenience in one setting,” said Edgardo Defortuna, founder and CEO of Fortune International Group. “We are excited to take the project straight to contract because the developer is ready to move construction forward.”

Okan Tower has been designed by internationally renowned architecture firm Behar Font & Partners who’ve given it a striking curvature façade inspired by the Turkish national flower, the tulip. Equally appealing to both local and global buyers, Okan Tower residences are ideally suited to meet a variety of residential needs. The project’s Condo-Hotel Residences, starting on the 36th floor, will be delivered turn-key, ready for occupancy and sized from studios to two-bedrooms (and from 445 to 1,250 square feet). The Sky Residences, beginning on the 51st floor, will include finished condominiums ranging from one to three-bedrooms, plus a den – with floor plans spanning 695 to more than 2,075 square feet. Two floors of duplex-style penthouses will feature expansive layouts – all sized from 1,875 to more than 2,040 square feet.

A broad amenities package is tailored specifically to Okan Tower Sky Residence buyers and includes a ground floor arrival entrance with dedicated 24-hour reception and concierge, a 70th floor rooftop pool and sky deck with private cabanas featuring panoramic bay and city views, and an additional 12th floor lap pool with clubroom and indoor and outdoor lounges. Sky Residence buyers will also have access to a state-of-the-art health and fitness center with a yoga studio, Peloton® bikes and interactive fitness MIRROR®, as well as a dedicated wellness spa with sauna, steam and treatment rooms. A fully-equipped children’s sensory and play room, cutting-edge technology theater, and wine cellar and owner’s lounge are some of the other exceptional features available that add to the range of the lifestyle amenities on offer to Sky Residence owners.

Among the many signature elements that enhance the experience of being a Condo-Hotel owner or hotel guest at Okan Tower includes a dedicated 29th floor arrival lobby with a 24-hour reception and concierge, as well as reserved access to the hotel’s three amenity levels located on the 27th, 28th and 30th floors. These dedicated floors feature a superior range of leisure, entertainment and business amenities and services including a state-of-the-art fitness center and training facility, an outdoor pool with indoor and outdoor lounges and private cabanas, and a signature wellness spa featuring restorative Turkish treatments and a marble Hamman. A professional chef-styled gastro-kitchen plus grab-and-go-café, multiple bars, conference and meeting rooms, and over 4,500 square feet of ballroom space, complete with a full catering and kitchen facility, round-out the first-in-class amenities available.

Both Sky Residence and Condo-Hotel owners will receive access to premier services such as in-room private dining, in-room spa treatments, professional housekeeping services, on-site laundry and dry cleaning, personal trainers and fitness specialists, and lifestyle concierges presented by Hilton Hotel & Residences.

Okan Tower’s Miami sales gallery is now open at 542 North Miami Avenue. Pricing starts from $387,000 for the Condo-Hotel Residences and $587,000 for the Sky Residences.

Sky Residence

Condo-Hotel Unit

Images via Okan Tower

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

Finvarb Group Acquires The Landon Bay Harbor Hotel For $10 Million

Finvarb Group, led by Ronny Finvarb, has acquired The Landon Bay Harbor Hotel for $10 million, roughly $219,000 per key. The seller was BHI Hotel who acquired the property in 2007 for $3.9 million. The property was listed with David Cohen and Arthur Porosoff with Compass as well as David Greenberg with Marcus & Millichap. The Landon was built in 1946, renovated in 2010, and is located at 9650 East Bay Harbor Drive. The boutique hotel features 46-keys and spans 22,729 SF. The Landon is also home to The Palm Miami.

The hotel market in Miami has been extremely hot over the past several months. Swire Properties recently sold the 352-key East Hotel in Brickell City Centre for $174 million; Victory Investments Group acquired the art deco Hotel Astor on Miami Beach for $12.75 million; the Brazil-based real estate development firm JHSF acquired the COMO Metropolitan Miami Beach hotel for $70 million; Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA, acquired the Conrad Miami hotel for over $100 million; and AMS Hospitality, a joint venture between The Allen Morris Company and Black Salmon, acquired the 97-key Circa 39 Hotel in Miami Beach for $25.5 million.

The Finvarb Group is a real estate development and investment company specializing in developing quality mixed-use hotels in premium urban locations and in emerging and underserved markets throughout the United States. The Finvarb Group owns, develops and invests in areas with strong demand growth and which appeal to both business and leisure travelers alike. The Finvarb Group's hotels are linked by a common thread of excellence, distinctiveness and a passionate commitment to deliver outstanding quality. Finvarb Group recently developed and owns The Kimpton Palomar South Beach and recently broke ground on The Thompson South Beach.

PROFILE Exclusive Podcast Season 1 Episode 8 Featuring Ronny Finvarb of Finvarb Group

Season 1 Episode 8 of the PROFILE Exclusive Podcast by PROFILEmiami features Ronny Finvarb of Finvarb Group. Ronny Finvarb is Principal of the Finvarb Group, a real estate development and investment company specializing in developing and owning award-winning hospitality projects including mixed-use hotels in premium urban locations and in emerging and underserved markets throughout the United States. The Finvarb Group portfolio includes multiple Marriott-branded hotels in Florida, Texas and Arizona.

Ronny recently developed the Kimpton Palomar South Beach which serves as a gateway to Miami’s Sunset Harbor neighborhood and is home to Osteria Morini which just won “Best Italian Restaurant” and “Best Brunch” in Miami. Ronny also just broke ground on the highly-anticipated Thompson South Beach.

Ronny holds B.B.A. and J.D. degrees from the University of Miami and is a member of The Florida Bar. He previously served as Executive Director of Business & Legal Affairs for two publicly-traded companies, including a division of General Electric (NYSE: GE), and also for one of the largest privately-held media, entertainment, telecommunications, technology and consumer products organizations in the world, the Cisneros Group. Ronny is also an active member of YPO, the premier leadership organization of chief executives in the world as well as is a member of the University of Miami Master of Real Estate Development and Urbanism (MRED+U) Advisory Board.

The PROFILE Exclusive Podcast by PROFILEmiami, the leader in South Florida residential and commercial real estate news and content, profiles and gets intimate with the movers and shakers in the South Florida real estate industry. Throughout the series we will interview and get inside the minds of South Florida's top developers, investors, brokers, architects, designers, etc. The PROFILE Exclusive Podcast is hosted by Demetri Demascus Co-Founder of PROFILEmiami and Director of Business Development at private equity group Galium Capital as well as Katya Demina, Co-Founder of PROFILEmiami and Development Associate at development firm Royal Palm Companies.

This Podcast is Presented By:

City of Miami Beach Approves Ocean Terrace Redevelopment Plan Along North Beach Beachfront

The City of Miami Beach Historic Preservation Board has approved the Ocean Terrace Holdings (OTH) redevelopment plan and Ocean Terrace streetscape masterplan. Led by OTH principals Sandor Scher and Alex Blavatnik, the redevelopment plan includes a 20-story, 75-unit residential building, new restaurant and retail options, and a 127-room hotel that incorporates the carefully renovated and unified historic Broadmoor and Ocean Surf properties. Following years of community outreach and negotiations with the City, the approval of OTH’s redevelopment plan will revitalize this underutilized area in North Beach along Collins Avenue, between 74th and 75th Street.

“The approved plan for Ocean Terrace is more economically viable, will attract a world-class hotel operator, and will incorporate a beautifully-designed oceanfront greenspace for the entire community to enjoy,” said Sandor Scher, principal of Ocean Terrace Holdings, LLC. “We look forward to getting to work on our long-awaited project, which will restore the street-level historic architecture, transform Ocean Terrace into a lushly-landscaped oasis and give new life to this cherished beachfront.”

The approved plan includes a few recently added enhancements that will elevate the project’s hotel and residential components. To help attract a world-class hotel flag to the project, the plan adds a new hotel building with 72 rooms that will be built within previously approved height restrictions. The hotel will be managed as one operation with the historic Broadmoor and Ocean Surf hotel buildings. The hotel will include restaurants, bar, meeting rooms, fitness, spa, outdoor pool and deck, rooftop lounge, and on-site parking.

With an historically inspired design, the residential component will feature curvilinear designs reflective of MiMo style, such as curved balconies and eyebrows. Units will range in size from 2 to 5 bedrooms and feature a full complement of luxury amenities. The masterplan also calls for approximately 15,000 square feet of commercial space along Collins Avenue and approximately 3,000 square feet along Ocean Terrace.

“We are grateful to the North Beach community and City of Miami Beach for working together with us to create a vision for Ocean Terrace that incorporates historic preservation, activation of the oceanfront, and economic revitalization,” said Alex Blavatnik, principal of Ocean Terrace Holdings, LLC. “We are excited to now be able to bring that vision to life, starting with an iconic and activated public space that will belong to the City for future generations.”

The first stage of the redevelopment plan will focus on a new $15 million, five-acre public greenspace along Ocean Terrace designed by world-renowned landscape architect Raymond Jungles. The asphalt street will be converted into an active, pedestrian-focused greenspace with native trees that will provide much-needed shade. A public-private partnership with the City of Miami Beach, the streetscape plan will also offer new walking trails, water features, public seating, and a covered pavilion. A mid-block open breezeway in the Ocean Terrace development will also connect Collins Avenue retail to Ocean Terrace, allowing enhanced public access to the oceanfront. OTH will fully fund the park, with no cost to taxpayers, and will deliver the greenspace on an expedited timeline.

Construction on the public greenspace is set to begin in the third quarter 2022. Pre-construction sales for the residential building are also estimated to launch in 2022.

Victory Investments Group Acquires Hotel Astor In Miami Beach For $12.75 Million

Victory Investments Group has acquired the art deco Hotel Astor on Miami Beach for $12.75 million, $304,000 per key, in an off market deal. The Susan Gale Group with ONE Sotheby’s International Realty, which specializes in hospitality transactions, represented both sides of the transaction. Hotel Astor is located at 956 Washington Avenue in the heart of South Beach and was not in operation at the time of sale. The property features a swimming pool and 4,000+ square-foot restaurant space. Victory Investment Group plans to breathe new life into the shuttered 42-room, three story hotel which was built in 1936 and designed by T. Hunter Henderson. According to Gale, the property will undergo extensive renovation, bringing the price per key to $500,000. Over the years Hotel Astor has been at the center of an alleged EB-5 fraud and two bankruptcy filings.

Images via The Susan Gale Group, ONE Sotheby’s International Realty

Acqualina Resort & Residences Awarded #1 Hotel Ranking In 10Best Readers' Choice Awards By USA Today

For the fifth consecutive year, Acqualina Resort & Residences has been recognized as the Best Waterfront Hotel in the United States in the 10Best Readers’ Choice Awards by USA Today.

“We are honored to be recognized by our esteemed guests and readers of USA Today as the #1 Best Waterfront Hotel in America,” said Deborah Yager Fleming, CEO & Partner. “During these challenging times of COVID-19, we have worked very hard to achieve and maintain a high level of excellence all with a focus on creating the most exceptional luxury experiences while welcoming guests safely.”

A panel of experts partnered with USA Today’s 10Best editors to select the initial 20 nominees in the two categories, and the top 10 winners were determined by popular vote.

In addition to the USA Today award, Acqualina also received the Forbes Five Star Award for both the hotel and spa for the ninth consecutive year and the AAA Five Diamond for the 13th consecutive year. Along with these prestigious accolades, US News and World Report named Acqualina the #1 Best Resort in the Continental US in their annual Best Hotel Awards and TripAdvisor recognized the resort as the #1 Luxury Beachfront Hotel in the Continental US.

Acqualina Resort & Residences is where the charm of a Mediterranean villa meets elegance on the beach. The lush grounds feature red couches set on Seashore Paspalum grass and are dotted with signature red umbrellas. A seaside luxury haven located on 4.5 beachfront acres in pristine Sunny Isles Beach, Acqualina Resort features 98 impeccably appointed guest rooms and suites and 188 residences with breathtaking views of the Atlantic Ocean, world-class dining including Il Mulino New York, the alfresco Costa Grill and the new Ke-uH Japanese restaurant, three oceanfront swimming pools, spacious meeting rooms and an innovative marine biology-based children’s program.

A variety of lavish interior and exterior venues provide an ideal background for opulent weddings and memorable events. Acqualina Spa by ESPA, the first ESPA-branded spa in the United States, provides guests with an exquisite 20,000-square-foot, two-story tranquil sanctuary of excellence and relaxation. A family-owned and operated property, Acqualina is a recipient of the coveted Forbes Travel Guide Awards for both the hotel and spa and the AAA Five Diamond Award.

Images via Acqualina Resort & Residences

Menin Development Celebrates The Grand Opening Of The Ray Hotel, Curio Collection by Hilton In Delray Beach

Hilton has announced the opening of The Ray Hotel Delray Beach, Curio Collection by Hilton, a 141-room design-focused tropical luxury hotel, located in the Pineapple Grove Arts District, in the center of downtown Delray Beach. The first ever hotel project by leading developer, Menin, features beautifully appointed guest rooms and suites with artistic accents, an expansive rooftop pool deck with a restaurant and bar, lush landscaping, a robust wellness program and state-of-the-art fitness center and immersive art installations throughout the public spaces. The hotel’s sustainable Tropical Modern architecture by González Architects, is punctuated with living walls, large-scale sculptures, and flexible private event space including the signature ‘floating glass cube’. Designed as a perfect retreat of upscale, playful yet comforting experiences, The Ray embodies tropical luxury in an urban beach town setting.

“The Ray Hotel sets a new standard for upscale, design-focused hospitality in Delray Beach and serves as a modern South Florida escape for visitors and residents of the area,” said Craig Menin, chief executive officer of Menin. “It has been a long year for everyone, and this grand opening is a monumental moment that we share with the city and all the incredible partners who have helped make this vision a reality.”

Designed by Virserius Studio, each room is spacious and well-appointed with signature Ray beds that are dressed in eucalyptus linens and for ultimate relaxation, all baths feature Frette towels and robes, Waterworks fixtures, and Byredo bath products. The modern and eclectic aesthetic is achieved from the custom-made furniture and hand-woven rugs to beadboard paneling and large pendant light fixtures throughout the space evoking an upscale beachside feel. The bright bathrooms introduce hand-carved marble wainscoting and The Ray’s all-natural signature bath amenities. State-of-the-art technology appears throughout the room from digital key entry, energy-efficient lighting controls and mobile device control for TV and room service.

“We are incredibly excited to welcome The Ray Hotel Delray Beach, Curio Collection by Hilton to our portfolio of hotels in Florida – where Hilton currently welcomes guests to 440 properties across the state, and has seen exceptional growth, with another 110 hotels in the pipeline, thanks to the market’s appeal for leisure, business and convention guests,” said Danny Hughes, executive vice president and president, Americas, Hilton. “The hotel’s central location, best-in-class restaurants and elevated amenities will inspire all types of global travelers to discover Delray Beach and experience Hilton’s signature hospitality.”

The hotel’s global and diverse culinary offerings are at the heart of The Ray experience. Curated by Clique Hospitality, the hotel features Ember Grill, a modern twist on the classic American grill style restaurant and Rosewater Rooftop, a premier lounge and restaurant where guests can enjoy shareable small plates, fresh seafood, and expertly crafted cocktails, both designed by Studio Munge. The 22,000 square-foot-space, Rosewater Rooftop, features one of the destination’s only rooftop pools accented with sweeping baldachins, oversized umbrellas, trellises, and pergolas married to a lush tree canopy providing shade and distinct lounging areas throughout the space. An artisanal coffee shop, Stingers, also designed by Virserius Studio, offers coffee, tea, and breakfast fare while the lobby bar provides a sophisticated and intimate backdrop where guests can relax and enjoy a signature cocktail, light bites, or end the evening with a nightcap. Akira Back, designed by Celano Design, set to open in December 2021, will provide a multi-sensory modern Japanese dining experience led by the Michelin-starred chef, Akira Back.

The rooftop, a 22,000 square-foot floating glass Cube, and 9,550 square-foot ground floor plaza makeup over 45,000 square-feet of indoor/outdoor event space. The property boasts a state-of-the-art fitness center, fitness classes offered by our local partners, Montana Method, Purlife, and Delray Beach Boxing Club, yoga in the Plaza or on the Cube Rooftop, available for hotel guests and locals to enjoy. For those wanting to venture out, the hotel is blocks from the famed Atlantic Avenue filled with boutique shops, restaurants and galleries and a short ride to the beach to enjoy complimentary beach cabanas on the hotel’s vibrantly dressed, complimentary Mokes, golf carts, or bicycles. The Ray has partnered with local small business Nomad Surf Shop to provide surfboard and paddleboard rentals.

“The charm and character of the community has been thoughtfully captured at The Ray Delray Beach, which is characteristic of the more than 100 unique hotels and resorts that make up Curio Collection,” said Jenna Hackett, global head, Curio Collection by Hilton. “The Ray Hotel is a great addition to our portfolio of handpicked, one-of-a-kind hotels, which continues to exude the sense of culture and personality of this delightful Florida beach town.”

The Ray Hotel Delray Beach, Curio Collection by Hilton is located at 233 NE 2nd Ave, Delray Beach, FL 33444.

The Fasano Coming To South Beach After JHSF Acquires The Art Deco COMO Metropolitan Miami Beach Hotel

The Brazil-based real estate development firm JHSF, led by Fábio Auriemo, has acquired the COMO Metropolitan Miami Beach hotel at 2445 Collins Ave. for $70 million, roughly $946,000 per key. The off-market transaction was overseen by Susan Gale of ONE Sotheby’s International Realty, who represented both the buyer and seller. The acquisition is JHSF’s first in South Florida and they plan to renovate the property and rebrand it into a Fasano.

The property features 74-keys and was first developed in 1939. It was previously known as the Traymore Hotel. It features a beach club, a ground-floor swimming pool with pool garden, a rooftop swimming pool, gym and a restaurant which is currently Traymore by Michael Schwartz.

Imagery via Susan Gale, ONE Sotheby’s International Realty

Legacy Hotel and Residences, America's First 'Covid-Conscious' Mixed-Use Tower Breaks Ground In Downtown Miami

Dan Kodsi of RPC (Royal Palm Companies) has announced the groundbreaking of Downtown Miami’s most anticipated mixed-use luxury development, Legacy Hotel & Residences coming to one of the U.S.’s most ambitious and largest private master-planned communities, Miami Worldcenter (MWC). The Kobi Karp-designed neo-futurism-inspired tower sitting on 1.3 acres, 60,000 SF, will feature 310 sold-out branded residences sitting atop a 219-room hotel, which will be managed and operated by Accor under The Morgan’s Originals Portfolio.

RPC and OneWorld Properties, led by Peggy Olin announced a $160 million sellout of its 310 residences in May, just 12 months after launching sales.

Adventist Health and Blue Zones, the organization that became famous for identifying places in the world where people live longer/healthier life spans, signed a joint venture (Blue Legacy Ventures - JV) to operate Legacy’s $100 million, 10-floor medical and well-being center in Miami, making Downtown Miami home to the world’s first Blue Zones Center. The JV is one of the largest commercial leases to be executed in Downtown Miami’s history. The joint venture is the first step in turning Miami into the next Blue Zone city.

The partnership is one of the largest commercial leases to be executed in Downtown Miami’s history. The $100 million center will occupy 10 floors and 120,000 SF within Legacy Hotel & Residences and is expected to become the most technology advanced health and well-being facility in the world, according to Adventist Health.

The groundbreaking will bring to life a first-of-its-kind ‘Covid-conscious’ development as RPC looks to expand The Center’s medical-grade features into the entire tower with air-filtration systems and touchless sanitation features such as voice-activated elevators, touchless room key access, apps that can call medical staff and UV sterilization wands for common room items. All aspects of the 50-floor tower, from the hotel rooms and residences to the five restaurants, to the design and programming, will follow Blue Zones methods and guidelines to living long and happy lives.

The center will offer teams of physicians and practitioners, an onsite lab, pharmacy, full AI-powered diagnostic center and rooms outfitted with medical gas and ventilator capabilities – this would allow the hotel to remain operational during future pandemics, ultimately becoming a refuge for travelers, owners and members, as well as a resource for the Miami community.

The luxury skyscraper will also host ground-floor retail, downtown’s largest pool deck set on one acre, the city’s first enclosed seven-floor rooftop atrium with a restaurant bar and lounge, the city’s first Singapore-inspired cantilevered pool soaring 500 feet in the sky, and a members-only international business lounge.

Legacy’s MICROLUXE® residences range from 350 SF to 850 SF with studios to two-bedroom units, offering the functionality of a micro-style home with the high-quality design and superior finishes of an elite condominium.

Former Owner of Club Space Acquires South Beach Multifamily In South of Fifth For $5.567 Million

Louis Puig, the former owner of Club Space, has acquired a multifamily property in Miami Beach’s South of Fifth neighborhood and plans to convert the space into a boutique hotel. Puig payed $5.567 million for 333 Jefferson Ave., a gated 24 unit multifamily property which was developed in 1939. The multifamily property sits on two lots spanning .32 acres. The current structure is 12,371 SF but zoning allows for over 21,000+ SF.

Susan Gale & Serena Joaquim with ONE Sotheby's International Realty represented the seller, 333 Jefferson Holdings. Gema Ruiz of Cedano Realty Advisors and Jose Maria de Guzman represented Puig, the buyer.

Puig plans to renovate the property and will offer a mix of studio, one-bed and two-bed units licensed for short-term rental.

For more information about commercial sales or leasing in South Beach, private showings or availability/ pricing information please fill out the form below: