Allen Morris Company's AMS Hospitality And Black Salmon Joint Venture Acquire Circa 39 Hotel In Miami Beach For $25.5 million

AMS Hospitality, the affiliate hospitality group of The Allen Morris Company, and Miami-based national commercial real estate investment firm Black Salmon have acquired the 97-key Circa 39 Hotel in Miami Beach for $25.5 million. Located at 3900 Collins Avenue, the Art Deco-style Circa 39 Hotel is across from the iconic Miami Beach boardwalk and housed within two buildings, which include a surface lot across the street. Melissa Rose of JLL Capital Markets arranged the financing for the acquisition. The transaction was overseen by Samuel Heskiel of Beachfront Realty and Miguel Pinto of Apex Capital Realty.

The asset will undergo a multimillion-dollar renovation which will reposition it as an upper-upscale, independent lifestyle hotel with a reimagined pool deck and new internationally recognized food and beverage concepts. It is strategically located in the growth path of mid-Miami Beach. Highgate, a leading real estate investment and hospitality management company in the U.S., Caribbean, and Latin America, has been selected to provide property management services for the hotel.

“The acquisition of Circa 39 Hotel is an extremely positive step in the evolution of AMS Hospitality,” said W. Allen Morris, Chairman & CEO of The Allen Morris Company and Principal of AMS Hospitality. “We are delighted to once again be partnering with Black Salmon, as our joint teams continuously explore new opportunities.”

The acquisition of the Circa 39 Hotel marks the most recent acquisition for the group as part of its plans to acquire $300 million in hospitality assets across the U.S. The two firms have additional assets under contract throughout the southeast United States. The partnership between AMS Hospitality and Black Salmon leverages the key strengths and expertise of both firms across the disciplines of acquisitions, asset management, and capital raising.

“Miami has always been a target market of ours for investment given its long-standing, global recognition as a preferred travel destination, now reinforced by its ability to rebound quickly in the pandemic.” said Jorge Escobar, managing partner and co-CEO of Black Salmon. “Our strategy of identifying boutique, select-service hotels allow us to provide the capital to reposition the property, increasing revenue and elevating the guest stay.”

With increasing vaccination rates nationally, and South Florida’s easing of COVID-19 restrictions, the return of leisure travel is evidenced by rising hotel occupancy rates. Miami is among the top 35 hotel markets in the country and has become a popular destination for travelers from the Southeast, Midwest, and California.

AMS Hospitality has a billion-dollar acquisition and development pipeline including the recently completed $87 million UNC Charlotte Marriot Hotel & Conference Center in North Carolina and the under construction Kimpton Midtown Union Hotel with MetLife in Atlanta. Black Salmon has a nearly half a billion-dollar portfolio, which includes prime office, senior housing, and hospitality assets.

Tour A One-Of-A-Kind Sky Mansion Triplex Which Just Sold For $30 Million At Continuum South Beach

A one-of-a-kind, combined three unit “Sky Mansion” condo at Continuum South Beach in Miami Beach’s exclusive South-of-Fifth neighborhood has sold for $30 million. Unit 3602-3604 in Continuum South was listed on the market just 52 days before selling for a record most expensive price per square foot in the building at roughly $3,645 PSF. The residence is also the fourth most expensive condo ever sold in Miami Beach. The sale follows a trend of closings of large, luxury condos in Miami and follows the sale of Continuum developer Bruce Eichner's own unit in April for $35 million.

The triplex in Continuum South spans three combined units on 36th floor resulting in 8,229 SF with an additional 3,704 SF of outdoor balconies. The residences offers 6 bedrooms and 5.5 bathrooms with a two-story master suite, two kitchens and a theater. The home also features 300-degree views and two story windows with luxurious custom design and finishes throughout.

The residence was listed with Sheila Michelle Rojas of Brown Harris Stevens and Constantin Gorges of Compass. Talita Pinheiro of Compass represented the buyer.

The sellers, William M. Osborne III and Karen H. Bechtel, are former Morgan Stanley Managing Directors, art collectors and philanthropists. While living in the home during Covid-19 the couple established Meals for Heroes, a non-profit to provide hospital emergency rooms and ICUs, EMS and first responder teams, and mobile testing centers with dinner cooked and prepared by local Miami restaurants and caterers.

Photography by Jerome Louden / Courtesy of Sheila Michelle Rojas / Brown Harris Stevens Miami

For more information about Continuum South Beach, private showings or purchasing/ leasing information please fill out the form below:

Inside The Continuum's South Beach Wine And Food Festival's 20th Anniversary Michelin Star-Honoree Led Dinner

Continuum, one of South Florida’s premier resort-style oceanfront condominium residences, participated in its second year for the 20th Anniversary of the Food Network & Cooking Channel South Beach Wine & Food Festival presented by Capital One (SOBEWFF®), with a sophisticated evening of regional Italian cuisine on Friday, May 21st.

James Beard Award Winner and Michelin Star honoree Chef Michael White, joined forces with Chef Claudio Lobina from The Patio restaurant at the Continuum in Miami Beach, to present a refined three-course menu for guests, co-hosted by husband-and-wife restaurant proprietors Michele Merlo and Tullia Gasparotto. Residents and guests experienced a memorable evening under the stars, within the heart of the luxury beachfront residences, as part of the official Intimate Dinner Series during this year’s 20-Year anniversary of the festival.

“Our second year of participation during this year’s South Beach Wine & Food Festival proved equally remarkable as our inaugural showcase last year,” says Rishi Idnani, Managing Director of the Continuum. “Despite the need for increased precautions to ensure the safety and comfort of everyone in attendance, this wonderful collaboration by Chef Michael White, a coveted award-winning Michelin Star honoree, and our very own Chef Claudio Lobina, gave our residents and guests a world class experience in culinary excellence as well as an evening of musical entertainment. On behalf of the entire Continuum management team, I would like to thank the festival’s organizing committee, together with the sponsors and our patrons for helping to make this second installment a resounding success. We would like to congratulate the festival’s management team for achieving an incredible 20-year milestone for one of the nation’s most highly regarded events on the culinary calendar.”

Guests were welcomed to The Patio restaurant with a live performance by the jazz group “Yamit and The Vinyl Blvd” as attendees were shown to their seats. Singing sensation Jean Vailant, returned with a superb vocal rendition of the Andrea Bocelli classics “Canto della Terra and “Time To Say Goodbye.” This was followed with a welcome speech and introduction to Chef Michael White by Steven Moll from the Florida International University Chaplin School of Hospitality and Tourism Management.

The night’s exclusive menu in regional Italian cuisine by Chef Michael White and Chef Claudio Lobina included: Lobster Caprese spoons to start, followed by Pea, Pecorino & Lardo Crostini, Warm Sicilian Red Shrimps with mango and potato chutney and Venetian Baccalà on polenta cake, as additional appetizers. Main entrée dishes included Amberjack and Burrata Olivada with lemon and pistachio; Risotto Porcini with Oregon Blonde Morel mushrooms and salmon with roasted peppers, asparagus and Salsa Bagna Cauda. The dessert course presented a Deconstructed Meringata with wild fresh berries. Each course was paired with a selection of international wines provided courtesy of Southern Glazer’s Wine & Spirits portfolio.

JDS Development Group's Luxurious South Beach Condo Monad Terrace by Ateliers Jean Nouvel Now 80% Sold Out

JDS Development Group, a leading real estate development, construction and acquisition firm, has announced 80% of the residences at Monad Terrace, including all four penthouses, are sold. The most recent closing of the building's crown jewel, PH-A, for $11.8 million, marks a record-breaking price for the flourishing waterfront neighborhood. Limited residences remain available at Monad Terrace, which are available for immediate occupancy and priced from $3 million. Remaining developer inventory is represented by Douglas Elliman Development Marketing.

Located at 1300 Monad Terrace in Miami Beach, Monad Terrace features interiors and landscaping designed by Pritzker Prize-winning architect Ateliers Jean Nouvel, in collaboration with Miami-based Kobi Karp Architecture and Interior Design, Inc. The building is comprised of 59 bayfront residences enveloping a glittering lagoon that reflects light throughout the structure's custom honeycomb glass façade. Monad Terrace blends light and water, glass and steel into what Jean Nouvel calls “the reflection machine.”

Residences range from from two- to five-bedrooms spanning 1,453 SF to 5,350 SF of interior space. Each light-filled residence is carefully oriented to enhance uninterrupted views of Biscayne Bay, Downtown Miami and South Beach. Expansive terraces sheltered by lush climbing gardens and framed by retractable floor to ceiling windows seamlessly blend the indoor to outdoor experience.

Residences at Monad Terrace feature private elevator access, custom kitchens and bathrooms by Jean Nouvel, an in-house concierge, a sun deck with a 116’ swimming pool and hot tub overlooking Biscayne Bay, valet parking, a café and juice bar, a wellness center, private dock, and a bicycle and water sports storage room. The project’s four penthouse residences include private pools on roof decks.

Monad Terrace is the first building structure in Miami Beach to be constructed above West Avenue’s new height, one of the ways Miami Beach is protecting against potential sea level rise. The building is elevated 11.5’ and incorporates impressive climate resilience features that establish a new standard of excellence for the city, offering intelligent design and exceeding new building codes.

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

LeFrak Acquires Marina Del Rey Apartment Complex In Miami Beach From The Finvarb Group For $24.5 Million

Billionaire New York real estate investor Richard LeFrak’s LeFrak organization has acquired the Marina Del Rey apartment complex in Miami Beach from The Finvarb Group for $24.5 million, $226.852 per unit. The waterfront multifamily property is located at 1006-1022 Bay Drive in Miami Beach. The deal was overseen by Garrett Pordes and Calum Weaver of Cushman & Wakefield who represented the seller.

The Finvarb Group originally acquired Marina Del Rey in 1997 for $2.1 million. The 108-unit complex spans 84,500 square feet on a 1.4 acre site. The two existing buildings were developed in 1957 and 1961 and rise two and four stories.

The LeFrak organization has become increasingly active in South Florida. The firm is co-developing SoLé Mia in North Miami with Turnberry Associates as well as was a joint venture partners with Barry Sternlicht’s Starwood Capital Group in the redevelopment 1 Hotel & Homes in Miami Beach. LeFrak Organization also owns the Monarc at Met apartment building located at 201 SE 2nd in Downtown Miami.

Tour This Record Breaking Altos Del Mar Beachfront Compound Which Just Sold For $37.5 Million In Miami Beach

A one-of-a-kind compound in Miami Beach’s exclusive beachfront Altos Del Mar neighborhood just sold for a record $37.5 million. The combined sale of 7709 Atlantic Way, and the vacant lot next door creates the only double lot in the exclusive gated community. 7709 Atlantic Way sold for the full asking price of $25.5 million, $3,865 PSF which is a record-breaking sale for the area. The adjacent vacant 16,000 SF lot sold for $12 million.

Ruthie and Ethan Assouline with The Assouline Team at Compass represented the seller and designers of the home, South African brothers, Ivan and Moss Kadey. Morgan Blittner with Brown Harris Stevens represented the buyer, Victor Ciardelli, the CEO of Guaranteed Rate.

The 6-bedroom, 5.5 bath residence spans 6,758 SF of interior space with features including a top-level master suite offering breathtaking views via Eastern and Southern exposure, and a TV that floats down from the ceiling. Finishes include custom Porro closets, Boffi bathrooms, Valli Valli door fixtures, Savant smart home system, elevator with custom mesh walls, dedicated office, guest room, laundry room, rooftop deck with 360-degree views and an embedded steel jacuzzi.

Other lavish features of the home include include a fully equipped first level retreat with home theater, spa & steam room, cold plunge, sauna, & Technofit gym.

Outdoors features an expansive entertaining deck with a summer kitchen, cabana, oceanfront garden and pool with a 60’ swim lane.

7709 Atlantic Way was designed as a collaboration between two South African brothers, architect and acoustic designer Ivan Kadey and businessman Moss Kadey. Construction was overseen by Haute & Boss.

As the only direct beachfront single-family home community in all of Miami Beach, the gated and ultra-private Altos Del Mar is comprised of just 24 homes with 24-hour private security and park connectivity to luxury enclaves including the Four Seasons Surf Club, the St. Regis and Bal Harbour Shops.

Images via LPG for The Assouline Team

For more information about homes in Altos Del Mar, private showings or purchasing/ leasing information please fill out the form below:

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach Now Over 70% Sold

The Piero Lissoni-designed Villa Collection at The Ritz-Carlton Residences, Miami Beach is now over 70% sold since sales launched on February 1, 2021. The sales represent 10 out of the 15 villas in the Collection with total sales volume over $68,390,000 for 10 the units under contract since sales launched February 1.

The Villas at The Ritz-Carlton Residences, Miami Beach are being developed by GFI Development Co. as the 3rd-party development manager on behalf of 4701 North Meridian LLC. and designed by the world-famous Italian architect Piero Lissoni. The Residences will be ultra-luxurious single-family waterfront homes with dockage. The homes are part of The Ritz-Carlton Residences located in Mid-Beach where the lake, ocean and waterway meet and just minutes from Downtown and South Beach.

The villas will be free-standing and two-stories tall for optimal privacy and space with interiors and exteriors fully designed by Piero Lissoni. Villas will range in size from three-bedrooms to five-bedrooms and feature a two-car garage, fenced yard, private infinity-edge pool and a landscaped waterfront.

The Villas share access to the Ritz-Carlton Residences, Miami Beach’s resort-style amenities including an art studio, 36 private boat slips, an on-site captained Frauscher day yacht, a half-acre rooftop pool deck with private cabanas, a poolside resident-only restaurant, a food forest community garden, a club room, waterfront social room and more. There will be a concierge service to help book beach access, the cinema-style screening room, fitness center, yoga room and meditation garden. The amenities are compliment of The Ritz-Carlton lifestyle of bespoke experiences with a high level of service known in the industry.

The Villa Collection at the Ritz-Carlton Residences are located at 4701 Meridian Avenue in Miami Beach. Pricing ranges starting from $4.375M. The project is exclusively marketing is by Douglas Elliman Development Marketing.

For more information about The Piero Lissoni Villa Collection At The Ritz-Carlton Residences, private showings or purchasing/ leasing information please fill out the form below:

Location Ventures Closes On South Beach Assemblage For $20 Million Where Co-Living Project Urbin Miami Beach Is Planned

The Coral Gables-based Location Ventures, led by Rishi Kapoor, has closed on the Washington Avenue assemblage where they have planned Urbin Retreat Miami Beach for $20 million. The acquisition was financed with at $14 million mortgage assumed from the seller, Fryd Properties. The assemblage includes a 10,697 SF retail property at 1260 Washington Ave. and an office building at 1234 Washington Ave.

Prior to closing, Location Ventures has had the Urbin Retreat Miami Beach project in the works since at least 2019. Urbin Retreat Miami Beach is designed by Touzet Studio was approved by Miami Beach’s Historic Preservation Board and Planning Board in August 2020. Urbin Retreat Miami Beach will be a co-living, co-working and wellness platform featuring 60 residential units for a combined 120 bedrooms, retail, co-working space, a rooftop bar and a ground floor restaurant and bar.

Deco Capital Group's Mixed-Use Office Development Eighteen Sunset Approved In Sunset Harbour

One of South Florida’s most in-demand neighborhoods is getting a new offering of residential and commercial space following the approval of Eighteen Sunset, a mixed-use development set to rise in Miami Beach’s Sunset Harbour district. Eighteen Sunset is being developed by Deco Capital Group and was designed by DOMO Architecture + Design.

The five-story building will feature street-level retail and restaurant space, two floors of Class A offices, and an exclusive top-floor penthouse residence with a private rooftop deck. Plans for the development won unanimous approval from the Miami Beach City Commission on May 12, 2021. Construction is scheduled to begin in late summer 2021, with completion anticipated in 2023.

Situated between Purdy Avenue and Bay Road, overlooking Biscayne Bay and Maurice Gibb Park, Eighteen Sunset will offer unmatched walkability and accessibility in the heart of Sunset Harbour, which has emerged as one of South Florida’s hottest lifestyle, retail and dining destinations.

“Eighteen Sunset will be a premier address for shopping, dining, working and living just as Miami Beach enjoys a surge of new residents and businesses,” says Deco Capital Group Founder Bradley Colmer. “No other building in Miami Beach offers this level of Class A, luxury office and prime retail space looking out onto the water. The penthouse residence will be an unparalleled home in the sky in the center of Miami Beach’s most exciting neighborhood.”

The crown jewel of Eighteen Sunset is a penthouse residence featuring more than 15,000 SF of interior space as well as a breathtaking rooftop pool deck. The residence comprises over 32,000 SF of private indoor and outdoor space in total. The rooftop includes a pool and hot tub, an outdoor dining room, and expansive gardens, seating and recreational areas affording the owner and their guests panoramic vistas of Biscayne Bay, the Downtown Miami skyline, and evening sunsets to the west. The penthouse owner will have private ownership and use of a ground floor foyer/lounge, as well as a private garage accommodating at least six cars on the building’s second floor, offering direct elevator access to the residence.

“The Penthouse at Eighteen Sunset will be the pinnacle of luxury and exclusivity in Miami Beach, making it unlike any private residence the city has seen,” says Oren Alexander of Douglas Elliman. “This is perfect for a buyer drawn to the idea of taking an elevator down to the ground floor and being immersed in a vibrant, walkable neighborhood that offers everything from sidewalk cafés and coffee shops, to trendy boutiques and a marina across the street. All of this is available in a building offering beautiful views and the amenities and security features of a world class building.”

Eighteen Sunset’s ground floor totals approximately 15,500 SF of high-visibility, rentable commercial space, offering retail and restaurant concepts prime frontage along pedestrian-friendly Purdy Avenue. A central breezeway and cantilevered sidewalk cover will feature shaded seating areas and create seamless connectivity with Maurice Gibb Park.

Floors three and four will be comprised of approximately 32,000 SF of Class A-plus office space tailor made for finance and investment firms, family offices, technology firms, and professional service companies in the market for space offering waterfront views, proximity to Miami’s most desirable residential neighborhoods, and Sunset Harbour’s stylish mix of shops and eateries just steps away. Office tenants will have secure parking on the building’s second floor.

“Today’s office users are placing emphasis on planning and building custom-designed space in areas that are walkable, accessible, and which offer proximity to outdoor recreation. Eighteen Sunset checks all of these boxes – and more,” explains Stephen Rutchik of Colliers International. “We are finding that Eighteen Sunset’s best in class data connectivity, sustainability initiatives, private balcony spaces, and 24/7 full building generator for all tenant systems are appealing to firms looking to establish their presence in one of Miami’s most sought-after districts.”

Stephen Rutchik of Colliers International is leading leasing the Eighteen Sunset’s office space, Sara Wolfe of Koniver Stern is marketing the retail offerings, and Oren Alexander of Douglas Elliman selling the penthouse.

For more information about Eighteen Sunset or commercial leasing in Sunset Harbour, private showings or availability/ pricing information please fill out the form below:

World Polo League Beach Polo, Miami Beach Returns To South Beach For Polo And Philanthropy

April 23 through April 25 saw the World Polo League return to South Beach for the 2021 World Polo League Beach Polo, Miami Beach, which took place on the sands of South Beach between 21st & 22nd Street in front of the W South Beach and The Setai Miami Beach. The competition brings together world class players from around the globe, including some of the biggest stars in polo, take to the sands. The event marked one of the first major public events in Miami Beach to take place since the COVID-19 pandemic.

The 3-day tournament featured world-renowned polo players including Nic Roldan and Nacho Figueras. Team Seminole Casino Coconut Creek, consisting of Nacho Figueras, Melissa Ganzi, and Alejandro Novillo Astrada, took home the 1st place trophy.

Cuba Gooding Jr & Claudine De Niro, Sophia Culpo, Orianne Collins, Alan Faena, Jackie Guerrido, Kobi Karp, Michael Góngora, Demetri Demascus, Delfina Blaquier, Mark Samuelian, Sissy DeMaria and Jeremy Shockey were among the fashionably dressed spectators.

Local real estate development, The Villa Collection at The Ritz-Carlton Residences, Miami Beach, led by GFI Development Company, ponied up for a good cause sponsoring the event and Give Back for Special Equestrians, a Miami based nonprofit that provides therapeutic horseback riding scholarships for disabled children and veterans throughout Florida. The Villa Collection’s team consisted of players Marc Ganzi (USA), Horacio Heguy (ARG), and Nic Roldan (USA), which placed fifth place overall in the tournament after winning against team Italkraft on Sunday afternoon.

“It gives us great pleasure to welcome back World Polo League Beach Polo, Miami Beach and the sport of kings to Miami Beach. The city enjoys a rich storied past dating back to the 1930’s when Carl Fisher played with other Miami Beach residents like Harvey Firestone and Alfred duPont on the grounds of the Nautilus Hotel just steps from the new villas,” said Andy Ashwal, Vice President of GFI Development Company. “We are pleased to continue the tradition and incorporate our corporate philanthropic culture by helping some very special equestrians in the process.”