Shoma Group Unveils Its Eleven on Lenox Sales Gallery In South Beach

Real estate development firm Shoma Group announced the opening of its new on-site sales gallery at Eleven on Lenox on October 23, 2017. Located in South Beach on Fifteenth Street and Lenox Avenue, Eleven on Lenox will be an ultra-luxe boutique project that will feature a bespoke collection of 11 beach-inspired homes designed as the collaborative vision of internationally recognized firm, ZyScovich Architects and five-time Architectural Digest’s Top 100 Interior Designers, Charles Allem.

“The collection of these 11 well-appointed beach houses capture the spirit of a luxurious coastal retreat, and the vibe of South Beach infused with the style sophistication and comfort of a private home,” said Masoud Shojaee, President and Chairman of the Board at Shoma Group. “The buyer at Eleven on Lenox prefers the privacy and exclusivity of a townhome over a sky-rise.  Also, for those that are health enthusiasts they will see the value of this central neighborhood. Where else do you have the ability to walk out the door of a modern home with more than 4,400 square feet, for under $700 per square foot and be at the footsteps of the best that Miami Beach has to offer?”

Residences at Eleven on Lenox start at $2.9 million and range from 4,403 SF to 4,669 SF. Residences will be three floors and future Gaggenau appliances, smart lighting system, Poliform kitchens, four parking spaces, private elevators, rooftop terrace, summer kitchen and a pool. Eleven on Lenox is walking distance from both Lincoln Road and the beach and will emerge residents in the heart of South Beach, one of Miami's most desirable neighborhoods. Click here to check-out renderings of the Charles Allem interiors.  

Ritz-Carlton Residences, Miami Beach Reveals Renderings of Doo Architecture-Designed Penthouses

Ritz-Carlton Residences, Miami Beach has revealed new renderings of their penthouse units, designed by interior architect Alexis Cogul Lleonart, founder of Doo Architecture. There are 5 penthouses are available at the project which range in price from $8.8 million to $40 million duplex combination unit. The 2 penthouses which would combine to create the monster are priced at $20.625 million and $16.9 million.The featured penthouse has 10,000 SF of interior space and an additional 8,000 SF of balconies and terraces. Outdoors space features a hot tub and water feature sculpture in addition to a 6,000 SF rooftop terrace with an Exteta pergola and wet bar. Inside, the unit features 3 sepearte living areas that includes an interior topography space with a garden; a double-height library system that wraps around the main area; a 20' wine cave with a climate-control custom shelving system for 2,000 bottles and a jellyfish tank; an interior fire pit; and a private elevator leading to the roof.

The Ritz-Carlton Residences, Miami Beach is being developed by 4701 North Meridian, LLC, a partnership comprising of Lionheart Capital and Elliott Management Corporation. Lionheart Capital is a Miami-based real estate investment firm engaged in the investment, development and repositioning of Miami new construction and existing commercial, hospitality and residential assets. The Ritz-Carlton Residences, Miami Beach features 111 ultra-luxurious condominium residences that come in 1, 2, 3, 4 and 5-bedroom layouts and range from 1,700 SF to more than 10,000 SF; additionally, there are 15 private single-family villas. The project was designed by Italian architect Piero Lissoni, his first full-scale project in the United States, and sits on over 7.5 acres along 4701 Meridian Avenue. Amenities include 2, 24-hour attended lobbies, 24-hour valet parking services, a waterfront social room with bar and catering kitchen, and on-site private car to chauffer residents to surrounding destinations, a world-class pool and amenities deck with spacious cabanas and poolside grille, lush meditation garden, deeded boat slips on a private waterway, club room with a pool table and virtual golf, full-service spa, state-of-the-art fitness center, a first-of-its-kind art studio and a fully equipped kid's room. Ritz-Carlton Residences, Miami Beach is expected to be completed this winter, Q1 2018.

Featured Listing: Kick-Back In The Duplex Penthouse Which Is The Venetian Islands Priciest Condo Listing

There's nothing like living right in the middle of Miami's beautiful Biscayne Bay on the coveted Venetian Islands with panoramic water views. Unit 2502 at 10 Venetian Way is the most expensive condo currently for sale on the Venetian Islands, asking $6.495 million. The combination duplex unit features 6 bedrooms and 6 bathrooms spread over 6,422 SF. The residence was designed by Carola Pimentel and offers direct bay views from essentially all of the living areas, a unique pneumatic elevator, glass staircase, open kitchen with high-gloss white cabinetry, marble countertops, marble and oak wood flooring, 3 terraces, 5 parking spots, and 2 master suites with morning kitchens. 10 Venetian Way is currently listed for $6.495 million with Isaac Lustgarten and Oren Alexander of The Alexander Team at Douglas Elliman. 

JDS Development Group Secures $62.5 Million Construction Loan For Monad Terrace, To Go Vertical in Early 2018

JDS Development Group has secured a $62.5 million construction loan For Monad Terrace in South Beach. The developer has already broken-ground and is completing foundation work, they expect to go vertical in March 2018. According to Michael Stern of JDS Development, the $62.5 million of financing breaks down to a $20 million senior loan from Bank of the Ozarks and $42.5 million of mezzanine financing from VanBarton Group. The Real Deal reported in June 2017 that Delaware-based lender EO Monad Terrace sued Monad Terrace Property Owner LLC for failing to pay a $45.8 million mortgage principal on the property located at 1300 Monad Terrace. The suit was reportedly dismissed as JDS Development closed on the new financing.

Monad Terrace is designed by Pritzker Prize-winning architect Jean Nouvel in collaboration with Kobi Karp. The project will feature 59 residences that range from 2 to 5 bedrooms and 2,000 SF to close to 14,000 SF. Pricing starts at $1.7 million and sales are being handled by Douglas Elliman. Monad Terrace will also feature an infinity edge waterfront pool and hot-tub located directly on Biscayne Bay with lush landscaping throughout by Jean Nouvel. The design of the development keeps climate change and rising sea levels in mind. Amenities include a sun deck with pool and hot tub, 24 hour concierge, valet parking, pool service, cafe and juice bar, resident's lounge, waterspouts storage and bicycles and paddle boards for the residents. Completion is expected in 2019.

Pitbull to Open iLov305 Restaurant and Cocktail Bar in Former Bon Air Hotel on Ocean Drive

Pitbull is bringing a restaurant to Ocean Dirve. The singer has announced that he will launch a new concept, iLov305, in the former Bon Air Hotel at 1600 Ocean Drive. iLov305 will be a restaurant and cocktail lounge with daiquiri bar. Pitbull signed a lease for the space which is owned by Nakash Strand, LLC.; an entity controlled by the Nakash family, and plans to restore the space to its former, classic, 1934 design. Renovations, which were approved by the Miami Beach Historic Preservation Board and are designed by architect Mario Echevarria, will include the facade, lobby, historic stairway, fireplace, decorative support columns and tile mosaic flooring. Nakash Strand, LLC. purchased the ground floor commercial space for $18.3 million 2012; the units were converted to hotel condos in 2004. 

TAMZ Oversees Refreshed Branding For The Grand Beach Hotel Miami Beach

Miami-based real estate media and branding powerhouse TAMZ has refreshed the brand identity of the Grand Beach Hotel Miami Beach, located at 4835 Collins Avenue, Miami Beach. The Grand Beach Hotel Miami Beach was originally built in 2009 and underwent at $10 million renovation in 2015. The hotel sits on 200' of beachfront and offers the highest levels of luxury, amenities and comfort. Amenities include 2 heated Jacuzzi‘s, fitness center with panoramic sunset views, and 3 swimming pools including 2 beach level family pools and a rooftop adults only tranquility pool. Suites include marble bathrooms, private balconies and panoramic ocean, bay and/ or city views. There is also a Grand Beach Hotel located in Surfside.  

Featured Listing: Tour the Lavish Oceanfront Foster + Partners-Designed Faena House Condo Asking $9.5 Million

This lavish oceanfront Faena House condo, which is on the market asking $9.5 million, is the ultimate place to enjoy all the luxuries South Beach has to offer. The residence features 4 bedrooms, 5 full-bathrooms and 1 half-bath spread over 4,165 SF with an additional 1,301 SF lanai. The unit comes fully furnished with interiors designed by Foster + Partners in collaboration with Molteni Dada, who designed the kitchen, and bathrooms designed by Permasteelisa. Residents of Faena House have access to all of the five-star Faena amenities including concierge services, an in-house spa, state-of-the-art fitness center and a Children's playroom. 3315 Collins Avenue, Faena House, 5-B is currently listed for $9,500,000 with Pablo Alfaro of Douglas Elliman. 

Three Hundred Collins Penthouse Sells For Record Setting $5.8 Million

The crown-jewel penthouse at Three Hundred Collins has sold for a record setting $5.8 million, $1,845 SF, the highest price-per-square-foot sale for a non-waterfront condo in South Beach. Penthouse 1 features 3,150 SF of interior space and 1,580 SF of outdoor terrace space. The unit is spread over 3 bedrooms and 4 bathrooms and features a private elevator, open kitchen designed by Juul-Hansen and is outfitted smart home technology. Amenities at Three Hundred Collins include a fitness center, beach club, 24 hour doorman, valet parking and a 75' rooftop pool with cabanas and a hot tub. Three Hundred Collins is under development by JMH Development and is currently 85% sold. Completion is expected in early 2019. 

South Beach's First Food Hall Concept, Time Out Market Miami, Is Revealed

Time Out Market Miami has revealed their first renderings of the open food hall concept, the first of its kind in South Beach. The eatery will feature 17 restaurants in total and has announced commitments by multiple local Miami restaurant brands including KUSH, Coyo Taco, Jugofresh, Paradigm Kitchen, and BUHT-ER. It will also feature new restaurant concepts by chefs Jose Mendin and Michael Pirolo along with 3 bars, art galleries and a demonstration kitchen which will be used for events and classes. The project was first approved in March 2017 and is expected to open in 2018. Time Out Market Miami will be located at 1601 Drexel Avenue. The first Time OutMarket is located in Lisbon, Portugal. 

“Miami is an incredibly vibrant, diverse city, and has been cementing its place on the culinary map and in the art world for several years now—it is the perfect city for Time Out Market. We are absolutely honored that the brilliant chefs and restaurateurs, who undoubtedly represent the very best of Miami, have chosen to be a part of Time Out Market from inception," said Didier Souillat, CEO of Time Out Market. 

Featured Listing: Enter the Private Oasis on North Bay Road Known as Vila Paraiso

There is no shortage of luxury on North Bay Road and Vila Paraiso is no exception. The waterfront estate features an 8,148 SF Georgian-inspired mansion which is spread over 6 bedrooms, 6 full-bathrooms and 2 half-baths. The private, gated estate features a gourmet kitchen, 5,000 bottle wine cellar, impeccable finishes and craftsmanship, views of Biscayne Bay, 80' of waterfront with private dock and a pool with jacuzzi. 5310 North Bay Road is currently listed for $10,985,000 with Darin Tansey of Douglas Elliman.