Record Breaking Class A Office Lease Signed At Yukon Miami In Miami Beach's South of Fifth Neighborhood

The Yukon Miami, a class-A commercial office building at 119 Washington Avenue in Miami Beach’s affluent South of Fifth neighborhood, has shattered office leasing records in Florida despite the Covid-19 pandemic.

J. Goldman & Co., LLP, an independent investment manager, has signed an eight-year lease for 3,318 square feet of office space and a 700-square-foot private, covered terrace for a record-breaking $92 per square foot. This is an expansion for the financial services firm, which had already been leasing 1,223 square feet on the fourth floor. The lease was overseen by The Company Real Estate and The Global Consulting Organization.

“The Yukon Miami, whose office space is now close to 100% occupancy, is an asset that continues to outperform the market, not only in Miami but in the entire state of Florida,” says Cyril Bijaoui, principal and broker of The Company Real Estate, who represented the owner in the transaction and has handled the leasing for the property for the past eight years. “This is truly a building for the discriminating tenant, the top 1%, who appreciates the character and energy of the South of Fifth neighborhood.”  

The 88,148-square-foot Yukon Miami is the only Class-A office building located in the exclusive South of Fifth enclave. In addition to its prime location, the property features an enviable 9,500-square-foot rooftop development opportunity with 360-degree views of the Atlantic Ocean, Miami Beach and Downtown Miami.

Owned by Yantra 119 LLC and managed by Giulio Rangoni and Cinzia Zanella, The Yukon relaunched its sales effort this summer and is being marketed by Amit Egan Datwani, founder and chief consultant of The Global Consulting Organization, and Mr. Bijaoui for $45 million. Final offers for the property are due by Friday, October 2nd. The building’s 9,081-square-foot ground floor retail space has also just hit the market.

“It’s an ideal location to create a restaurant concept that you would expect to experience in either the Design District or at Bal Harbour Shops,” says Mr. Egan Datwani, “a place that could be infused with the early aughts buzz of Pastis in New York, the devout clientele of Joe’s Stone Crab in Miami and the exclusivity of Le Club 55 in St. Tropez.”

“The Yukon Miami presents a visionary investor with the ultimate opportunity to transform a value-add trophy asset into an absolute gem,” adds Mr. Egan Datwani. “This really is the Salvatore Mundi of the real estate world.”

Take An Exclusive Tour Of This Newly Completed Venetian Islands Contemporary Asking $4.75 Million

The Venetian Islands have been a hot spot for those looking for tranquility and privacy yet be just minutes from South Beach, Brickell, Wynwood, Miami Design District and Downtown Miami. Located at 1509 NE 12th Place on the Venetian Islands’ San Marco Island, this contemporary tropical residence was completed in 2019 and features the finest finishes including a POGGENPOHL kitchen. The home spans 5,016 square feet and offers 5 en-suite bedrooms with an open floorpan for lots of natural light.

Glass sliders blend indoor to outdoor living with the main living area opening direct to the pool and yard making for a great home for entertaining. Other luxurious features include a stunning master suite with water views, two massive walk-in closets & bathroom with a serious ‘wow’ factor.

1509 NE 12th Place, Miami, is currently listed for $4,750,000 with Dominique Duque and Ana Guillen of Compass. Ana and Dominique can be reached at 305-766-7666, ana.guillen@compass.com or dominique.duque@compass.com.

Star Island Heats Up As Alex Rodriguez, Jennifer Lopez and Ken Griffin Acquire Multimillion-Dollar Properties

Ultra-luxury real estate on Star Island is heating up amid the COVID-19 pandemic. Celebrity power couple Alex Rodriguez and Jennifer Lopez have acquired 13 Star Island Drive for $32.5 million and Ken Griffin, the billionaire hedge-fund manager and founder of the Chicago-based Citadel Securities, has acquired 11 and 12 Star Island Drive for $37 million. A 6-bedroom, 14,268 SF estate located at 14 Star Island Drive has also closed for $24 million.

Rodriguez and Lopez’s new home spans 10-bedrooms, spread over 15,011 SF with over 100’ of water frontage. The lavish mansion also features a chef’s kitchen, wine room, luxurious master bedroom with bay views, pool, spa, cabana with summer kitchen, wet bar and dock. E&A Estates was the seller, represented by Jill Hertzberg and Jill Eber of the Jills Zeder Group at Coldwell Banker. Arlene Susy Dunand of Coldwell Banker represented the buyer.

An entity tied to Ken Griffin acquired a double lot with views of Downtown Miami at 11 and 12 Star Island Drive in an off-market deal. Griffin has also spent roughly $350 million acquiring an assemblage on Blossom Way in nearby Palm Beach.

These sales follow the sale of 22 Star Island for $49.5 million in July. The home was developed by Todd Michael Glaser, designed by DOMO Architecture + Design with interiors by Dunagan Diverio Design Group. The neighboring 46 Star Island is currently listed for $39,950,000 with Dora Puig of Luxe Living Realty.

Tropical Modern Palm Island Spec Home Designed By Choeff Levy Fischman Sells For $20.5 Million

 A tropical modern mansion on Palm Island designed by Choeff Levy Fischman has sold for $20.5 million. Located at 19 Palm Avenue, the two-story home spans 9,386 square-feet complete with a $500,000 custom Fendi kitchen. Dina Goldentayer of Douglas Elliman represented the sellers and Ivan Chorney and Michael Martinera of Compass represented the buyers. Dean Carr, an investor from London, and his wife Melissa Carr, sold the home to a California family.

19 Palm Avenue is one of Miami Beach's most opulent new residences and leaves you in awe the moment you step onto its lavish motor court. Boasting a colossal cascading water feature and British-made automobile rotating turntable, the private driveway also includes an outdoor stairway and a three-car garage with lift capacity concealed by rich Timura wood. The home's exterior façade also features gray limestone to create a warm aesthetic.

The residence offers six bedrooms and seven and a half bathrooms. The home offers large living spaces in an open-concept format that includes floor-to-ceiling sliding glass doors that open up to the rear deck, blending the indoors with the outdoors.

A focal point of 19 Palm Ave. is home's interior is a stunning 460 square foot open-air atrium with floating steps that take you across a shallow pool of water. Additional soul-soothing reflecting ponds and cascading water features are spread throughout the property on all four sides of the residence to emphasize its waterfront location.

The master-suite is another highlight of the home, spanning 1,490 square feet and overlooking Biscayne Bay on one side with the glass atrium on the opposite end. Complete with separate custom Ornare closets with Cavalli wall coverings, the master suite also boasts a midnight kitchen, a sitting lounge, and a fireplace. Two spacious bathrooms feature exotic floor-to-ceiling marble, and each comes with a seamless glass zero-edge spa shower with steam and scent ventilation. One of the master suite bathrooms also includes a bespoke vanity and a standalone floating Boffi tub. Cantilevered wood ceilings shade the room's private balcony, which also consists of a glass railing to provide unobstructed northeastern waterfront views.

19 Palm Ave.’s second level also includes an atrium-facing pajama lounge where the family can relax in a private setting away from the traffic of the ground level. Additional amenities include a fully integrated Savant home automation technology system and one of the largest residential-grade elevators. Located above one of the home's reflecting ponds, it provides access to three levels, including the private rooftop.

Outside, the home's infinity-edge pool is accentuated by a sleek three-sided Lautner knife-edge deck creating a visually seamless plane of water without any distinction of a pool wall. The fourth side creates the illusion that the edge vanishes into the bay. Adjacent to the pool, the architects incorporated a sunken living room element with custom seating that surrounds a fire pit on three sides. The home's outdoor deck incorporates a shaded cabana with separate bath, dining, bar, and kitchen with a spiral staircase that leads up to a rooftop lounge ideal for sunbathing.

Check Out This Miami Beach Home Built By Lawrence Murray Dixon, The Architect Behind the Historic Art Deco District

Miami Beach has been known for it's historic Art Deco architecture since the movement began in the 1930's. One of the most crucial figures responsible for the development of "Tropical Art Deco" style was architect Lawerence Murray Dixon. Dixon was a prolific figure who put South Beach on the map by designing the buildings and interior decor of many Miami Beach homes and most notably responsible for 42 hotels located in what is now known as the Historic Art Deco District, including the Raleigh, Ritz Plaza, Victor, Tides, Marlin, Tiffany and Betsy Ross.

One of his many works of art includes this recently listed Miami Beach home on Michigan Avenue which was built in the 1940’s. The charming architecturally significant residence features 2,730 square foot with 4 bedrooms and 3 bathrooms. The home was recently renovated with by renowned interior designer Tomas Frenes, known for his furnishings featured throughout many 5-star hotels nationwide. Frenes was responsible for the updated design of the house while preserving the historic elements of the late Dixon's work.

The updated Lawrence Murray Dixon charming masterpiece blends the warmth of history and modern style.The floor plan is built for a seamless indoor and outdoor living environment and filled with an abundance of natural light. The home comes equipped to provide endless entertainment with a formal dining area, expansive living room and a gourmet chef's kitchen. When living in Miami Beach an outdoor paradise is almost a requirement, the backyard of this home serves as an entertaining with a heated pool and spa topped with your own modern summer kitchen. The home is listed for just under $2 million with Francisco Navarro and Sam Gaita of Douglas Elliman. 

Images via Douglas Elliman

WeWork Leaves Lincoln Road Location As Landlord Seeks $19.5 Million In Unpaid Rent

WeWork’s trouble’s due to COVID-19 continue as the landlord of their 350 Lincoln Road location has sued the co-working giant in Miami-Dade Circuit Court. SML 350 Lincoln Inc., an entity controlled by Shaul Levy and Meir Levy, alleges that WeWork breached their lease by failure to pay rent in April, May and June while occupying the 40,000 square foot space and now owes in-excess of $19.5 million in back-rent and legal fees. WeWork said in a statement that the lawsuit is without merit and will continue to work with the landlord to resolve the situation in a mutually beneficial fashion. WeWork’s 16-year lease at 350 Lincoln Road began in November 2014 and runs through October 2030.

WeWork will close the Lincoln Road location on August 14 and has also moved to consolidate its Miami Beach members to 429 Lenox Avenue. Last month we reported that Goddard Investment Group has moved to evict WeWork from the Lenox Avenue location, but the two parties were reportedly able to resolve their differences.

WeWork, which is now led by CEO Sandeep Mathrani, still has locations in Downtown Miami, Brickell and Coral Gables. Times have not been good to WeWork following its failed IPO in 2019. The coworking giant recently announced that it will being closing its first location to ever open in New York City and saw its valuation slashed from over $47 billion to $2.9 billion.

In May 2020, a group of WeWork’s members moved toward suing the co-working giant demanding that WeWork cease collecting rental fees. Many tenants had already requested rent relief, cancelled their leases or stopped paying, which put over $5.5 billion of CMBS loans backed by WeWork occupied properties at risk. Some of the CMBS loans back WeWork flagship locations in New York and San Francisco. WeWork has retained Newmark Knight Frank and JLL to try to renegotiate leases and negotiate concessions from landlords at some of their properties as the firm try to stave off a potential bankruptcy.

WeWork’s problems do not end there. Former CEO and co-founder Adam Neumann is reportedly under investigation for self-dealing by the New York State Attorney General. In addition, the Tokyo-based SoftBank led by Masayoshi Son and a special committee of WeWork board members have been locked in a legal battle after Softbank walked away from a $3 billion tender offer in April 2020 which was part of the $9.5 billion bailout package SoftBank signed with WeWork following WeWork’s failed IPO.

Multiplan Real Estate Asset Management Celebrates Top Out Of 57 Ocean on Miami Beach's Millionaire's Row With Giant Sandcastle

57 Ocean, an ultra-luxury residential project on Miami Beach’s Millionaire’s Row, has officially topped off construction at 18 stories. The project is being developed by Multiplan Real Estate Asset Management, who celebrated the milestone in tandem with the boutique oceanfront project’s exclusive sales broker, Fortune Development Sales, and the general contractor, Moss Construction. 57 Ocean broke ground in April 2019 and is on-schedule for next fall’s projected delivery date.  

“This is a triumphant day for us,” said Marcelo Kingston, Managing Partner of MultiplanREAM.  “Our team has worked tirelessly to ensure that all deadlines were met and expectations of our buyers are exceeded.  The global response to our project has been overwhelming.  To be more than halfway sold, with dozens of new prospective buyers reaching out to us daily -- recognizing the unmistakable value of a project of this size, scope, and setting -- is a point of pride to us, as well as to our founder, Dr. José Isaac Peres.”

 “We are proud to be celebrating this milestone today ahead of schedule -- a testament to the leadership, expertise, and excellence that have guided 57 Ocean and its rise,” said Scott Moss, CEO of Moss Construction.  “This is an absolutely beautiful project that is going to be a huge point of pride for Miami Beach and South Florida, as a whole.  The attention to detail is profound -- from the unique undulating façade of the building to the stackable sliding doors that seamlessly draw the outdoors in, and the wood-accented ceilings.  57 Ocean is truly a first-of-its kind project for the area with details that will set it apart from all other luxury buildings.”

57 Ocean, located at 5775 Collins Ave., is now approximately 60% sold. Just this month the sales team announced the purchase of a $7.8 million Sky Residence to a Miami Beach resident, who singled-out the project for its new construction, amenities, and oceanfront setting. In addition to 20 flow-through Sky Residences, starting at $6.95 million, 57 Ocean has one remaining penthouse, priced at $35 million. 

57 Ocean was designed by Arquitectonica with interiors by Patricia Anastassiadis of Anastassiadis Arquitetos. The waterfront building offers 71 residences as well as a selection of five-star, Blue Wellness-inspired amenities and designs. 57 Ocean will offer two- to four-bedroom residences, starting at $1.5 million, with sizes ranging from 1,245 to 3,474+ square feet. The well-appointed homes will feature expansive terraces, each stretching up to 12 feet deep, as well as contemporary Italian kitchens and baths by Poliform.

Amenities feature a holistic spa with products by One Ocean Beauty, a wellness pavilion with a thermal suite and relaxation areas, meditation and hanging gardens, poolside treatment cabanas, etc. Additional amenities include a state-of-the-art fitness center with top-of-the-line MyIsle training equipment by MyEquilibria, and an indoor Technogym fitness center. There will also be a children’s activity room, 24-hour concierge services, pool and beachfront concessions and attendants, direct access to the adjacent Miami Beach Walk, and more.  

“57 Ocean is unlike anything that’s currently on the market in Miami Beach,” said Edgardo Defortuna, founder and CEO of Fortune Development Sales.  “Our buyers know that this project is rare, offering a lifestyle that surpasses all wants and needs – especially in the wake of COVID-19.  These huge interiors, large terraces, the connection to the water, and focus on health and wellness are a winning combination that simply cannot be overlooked.”

In the face of the COVID-19 outbreak, the development, sales and construction teams took the opportunity to forego a traditional celebratory event by building a massive, six-foot-by-20 sand sculpture on the beach, adjacent to the site.  The sculpture, featuring a relief of 57 Ocean’s iconic undulating exterior, designed to resemble waves on the water, calls attention to the project’s ongoing support of the Oceana organization, which works to protect the world’s oceans. 

The public will be able to admire the whimsical piece while remaining socially distant while wearing complimentary 57 Ocean-branded masks.  57 Ocean’s developers will additionally host a beach clean-up with the Miami chapter of the Surfrider Foundation once coronavirus cases subside; the beach clean-up event was initially slated to take place the week of the topping-off.

Terra And Crescent Heights Break Ground On Canopy Park In South Beach

Terra and Crescent Heights, along with development partner New Valley, have broken ground on Canopy Park, located at the gateway to South Beach at after winning approval from the Miami Beach City Commission last year. The developers are building a three-acre public park, named Canopy Park, alongside a new residential tower at 500 Alton Road. Terra is led by David Martin and Crescent Heights is led by Russel Galbut, both longtime local Miami-based developers.

The three-acre park, located between the 600 and 700 blocks of Alton Road, will include open green-spaces shaded by native tree species, pedestrian and bike paths, an outdoor gym and dog run, a MONSTRUM-designed children’s playground, and public art displays. Canopy Park will be connected to the South of Fifth neighborhood and the Miami Beach baywalk via a new pedestrian bridge over I-395. The pedestrian bridge was designed by artist Daniel Buren and has been dubbed the Miami Beach Canopy. Construction of Miami Beach’s newest world-class city amenity is now underway, with completion estimated for Summer 2021. Canopy Park is located at the site of the former South Shore Hospital which the developers recently demolished.

“Canopy Park will be a gateway for the City of Miami Beach, a destination for visitors, and an everyday amenity for residents, so we’ve taken the time to assemble a team of design, art and planning visionaries who have led some of the most transformational projects in the world,” said David Martin, President of Terra. “The end result will be an active park and design experience that rivals public spaces in the world’s greatest cities.”

“World class cities and neighborhoods are defined by their public spaces, and Miami Beach is home to some of the most desirable parks and open spaces anywhere,” said City of Miami Beach Mayor Dan Gelber. “Our City’s newest public green space, Canopy Park, will quickly become a welcomed amenity for nearby residents and a favorite gathering spot for our entire community.”

The development team has enlisted an ensemble of artists, designers and architects who will bring the park to life, including architects Bernardo Fort-Brescia & Raymond Fort of Arquitectonica; landscape architect Laurinda Spear of ArquitectonicaGEO; design advisors Daniel Vasini of West 8, Anda Andrei of Anda Andrei Design, and Michael Gabellini and Kim Sheppard of Gabellini Sheppard Associates; and art advisor Lisa Austin. 

A major design component of Canopy Park will feature a “natural play” playground by Danish design firm MONSTRUM, which is famous for creating artistic and architectural playscapes around the world. Standout elements of the playground will include a giant butterfly, a mangrove forest and a caterpillar slide enabling children to jump, climb, balance, and express their inner imaginations.

The Miami Beach Canopy pedestrian bridge, subtitled Walking Under, Along, and On the Colors: work in-situ by Daniel Buren, will complete the Miami Beach Baywalk, creating a safe and seamless connection running from Southpointe Park north to the Lincoln Road District and east to the beachfront. The Canopy will become an instant icon for Miami Beach and a beloved work of public art that guides pedestrians along a rainbow of colorful shadows. Completion of the Miami Beach Canopy pedestrian bridge is anticipated for 2022.

Plans for Canopy Park also include an array of sustainability and resiliency features, including habitat restoration, vegetation, biodiversity, native plant communities, irrigation, water conservation and rainwater management. The park will also serve as an educational resource to inform and inspire the public about resilience and sustainability efforts being made by the city.

Second Largest Lot On Allison Island To Hit Market Seeking Record $12.9 Million

A double lot on Miami Beach’s Allison Island will soon hit the market seeking a record $12.9 million. The assemblage is the second largest on the island, only behind Louis Vuitton CEO Michael Burke. The luxury home development site spans 37,800 square feet and features 175’ of water frontage. The $12.9 million asking price is a record price per square foot for land on the island which has seen consistently rising prices over the years. The most recent sale recorded in the MLS is 6431 Allison Road which closed for $7.25 million in January 2019.

The double lot assemblage opportunity is a combination of 6505 Allison Road, which is listed for $6.7 million, for the 21,600 square foot lot; and 6525 Allison Road, a 16,200 square foot lot listed at $6.2 million. Both properties are listed by Ida Schwartz and Minette Schwartz of The Schwartz Team with Compass.

Allison Island is located in the La Gorce neighborhood in the North Beach section of Miami Beach on the Indian Creek Waterway. The island is divided by 63rd St. into a north section with waterfront homes and estates, as well as the southern section where the luxury condo community Aqua is located. Access to the home community is gated 24 hours a day and connects to North Miami Beach by a bridge. Every single-family home on the Island features direct water access to Biscayne Bay.

Allison Island was built by Carl Fisher in 1912 in honor of his business partner, Jim Allison. Allison began developing the island in 1926 when he opened a state-of-the-art hospital to provide service to residents of Miami Beach. In 2003 developer Craig Robins, who would later go on to develop Miami Design District, completed a major transformation of the island when he delivered the Aqua condo community project.

For more information about 6505-6525 Allison Road, private showings or purchasing/ leasing information please fill out the form below:

Star Island Spec Mansion Sells For $49.5 Million In Off-Market Deal

22 Star Island has sold for $49.5 million in an off-market deal after making waves through the Miami real estate community with its whisper price of $65 million. The buyer has requested to remain unnamed. The 17,000 SF spec mansion sits on the northern tip of Miami Beach’s Star Island, an exclusive enclave off of MacArthur Causeway on Biscayne Bay. Designed by DOMO Architecture + Design with interiors by Dunagan Diverio Design Group, the home features 7 bedrooms and 9 bathrooms in the modern main house and an additional 2 bedrooms in a 6,000 SF guest house which was originally part of the neighboring historic 1931-era 46 Star Island and moved by the developers to the other side of the 22 Star Island property.

22 Star Island offers the finest finishes throughout and an open floor-plan for unobstructed views of Biscayne Bay. The home features a grand entryway, movie theater, balconies which are convertible to pools off of every bedroom, a massive master-suite with its own private pool, a rooftop terrace with elevator access, two kitchens, gym and bar with wine coolers and refrigeration throughout the room. The 1.7 acre estate home also features a massive pool with cabana, private dock and two Jaume Plensa statues overlooking Biscayne Bay.

22 Star Island was developed by luxury homebuilder Todd Michael Glaser. The property was owned by Stuart Miller and David Miller and David Solomon of Berkshire Hathaway HomeServices EWM Realty were involved in the development, marketing and sale of the property.

22 Star Island was revealed in February of this year over Super Bowl LIV weekend hosted in Miami when the home hosted the philanthropic Big Game Big Give fundraiser. The event featured Jamie Foxx, Michael Bay, Aaron Paul, Bryan Cranston, Ray Lewis and Jim Brown, amongst others. Big Game Big Give has raised more than $10 million for worthwhile causes around the world.