PROFILEconnect: Rooftop Cocktails & Bespoke Networking at Kimpton Palomar South Beach

PROFILEmiami and The Finvarb Group are pleased to present the first installment of PROFILEmiami’s highly-anticipated PROFILEconnect high-end bespoke networking event series. PROFILEmiami has teamed up with the Kimpton Palomar South Beach, the Finvarb Group, Osteria Morini and E11even Vodka to host an evening soirée of bespoke networking and poolside cocktails and hors d’oeuvres, while enjoying the sunset over South Beach’s iconic skyline.

PROFILEmiami has curated a truly Miami Beach soirée experience. Enjoy signature cocktails by E11EVEN Vodka complete with a full open bar & Hors d'oeuvres by Osteria Morini poolside on the rooftop of one of Miami Beach’s hottest new hotels, the Kimpton Palomar South Beach. The relaxed and open setting provides an amazing opportunity to network with Miami’s top industry leaders and market makers, highlighted by Keynote Speaker Gil Dezer, the developer of Bentley Residences. Following the event, make your way downstairs to Osteria Morini, recently awarded Best Italian Restaurant and Best Brunch in Miami, to finish off the evening and enjoy 10% off your meal. Guests will also enjoy specially discounted valet pricing.

PROFILEconnect brings together Miami’s real estate industry and business professionals to network and connect outside of a business setting. PROFILEconnect is attended by Miami’s top investors, developers, business professionals, brokers, financiers, architects and designers. Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders.

Who Should Attend: Developers, Investors, Financial Planners, Business Professionals, Brokers, Architects, Designers, Lenders, Wealth Managers, Lawyers, CPAs

Date: November 3, 2021 | 6 - 8 PM

Where: Rooftop @ Kimpton Palomar South Beach - 1750 Alton Rd., Miami Beach

Keynote Speaker: Gil Dezer, Developer of Bentley Residences

Tickets: $150

• Tickets include:

  • 2 Hour Open Bar w/ Cocktails & Hors d'oeuvres

  • 10% off dinner at Osteria Morini (valid evening of event) - Reservations Recommended

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Would your brand like to generate exposure and connect directly with the attendees at PROFILEconnect? PROFILEmiami provides the opportunity via a selection of Sponsorship Packages. Contact us today to inquire about Sponsorship Opportunities.

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Mid-Century Modern Condominium Ten30 South Beach Sells Out Before Completion

Miami-based developer Shoma Group is excited to announce that its exclusive, upscale condominium, Ten30 South Beach, has completed sales. Fortune Development Sales, the exclusive residential brokerage for the project, worked closely with Shoma Marketing to sell all 33 units of the four-story Miami Beach development. This sellout is a testament to the project's desirability and the current state of the real estate market. The development will open its doors to residents before the end of the year.

Shoma Group is led by Masoud Shojaee, president and chairman of the board, who has developed more than 10,000 residences and completed over $5 billion in real estate transactions. With 33 years of experience, Shojaee identified a void of moderately priced modern condominiums in the Miami Beach market and set out to develop Ten30 as a luxury retreat at an attainable price.

“The demand in the Miami market right now is incredible and we've seen tremendous buyer response to this project,” said Shojaee. “As a beautiful, boutique development in one of Miami's hottest neighborhoods, Ten30 South Beach offers residents an exclusive haven with top-notch amenities at a compelling price.”

Ten30 features a range of one- to three-bedroom residences and a collection of penthouses, ranging in size from 786 to 3,005 square feet priced from $566,000 to $1.9 million. Designed by Adriana Hoyos and Saladino Design Studio, the mid-century modern-style units feature Italian-designed chef-caliber kitchens, Samsung’s Family Hub refrigerator, and Bluetooth-enabled keyless entry and camera surveillance. Amenities include a 6,000-square-foot rooftop deck and rosé-colored pool, two fitness centers, a lounge, an outdoor kitchen area with a barbecue and yoga space.

In March, Shoma and Fortune International Group reported a record pace for Ten30 sales with 11 residences sold in just 15 days. Several buyers purchased multiple units with plans to combine them and update the floor plans to create larger units, which are in greater demand as many out-of-state buyers relocate to Miami.

“I am immensely proud of the Fortune Sales and Marketing teams for accomplishing sellout before completion,” said Edgardo Defortuna, president and CEO of Fortune International Group. “It was a great experience to work with Shoma and we look forward to collaborating on more projects in the future.”

By Katya Demina

Continuum South Beach Announces Mandatory Vaccination Requirement For Entire Workforce

Continuum South Beach, a resort-style oceanfront condominium residences located in Miami Beach’s South of Fifth neighborhood, has implemented a mandatory vaccination requirement among its employees and contractors. Continuum’s Master Board of Directors, together with Associa/Marquis Association Management, the industry’s largest community management company, announced it would be stepping up its vaccine requirements by mandating that all employees and contracted/third party personnel are vaccinated or provide proof of COVID-19 vaccination in order to continue employment. The management team and Board has established a target date to have all employees fully vaccinated by November 15th this year, a move considered to be the first of its kind for staff among the region’s vast number of residential properties.

“Our requirement falls in line with many major companies requiring a vaccine mandate,” says Rishi Idnani, Managing Director at the Continuum. “By Grandfathering in this most essential new protocol, we are convinced that this approach will reinforce our commitment in keeping our residents and employees as safe as possible, as we charter a new course to battle the pandemic ahead of the upcoming high season. We hope it sets a good example and an industry standard, or best practice, for other residential communities to follow suit. We have been fortunate to have the majority of our residents and employees vaccinated in the recent months, and having vaccinated more than 500 residents to-date is a colossal achievement and first program of its kind thanks to our dedicated partners. I believe that making the vaccination as easy as possible enables people to make the right decision and we are delighted to offer this service to our residents.”

The Continuum has implemented state-of-the-art technologies for the health, safety and security of its residents. With the help of today’s most advanced security company, iDentyTech Solutions, the property has successfully phased its reopening of all amenities and common areas seamlessly for homeowners, strictly adhering to state and local guidelines, while minimizing the risk of exposure to COVID-19. To heighten the level of “contactless living” throughout the development, the latest facial recognition and biometric technology has been introduced, allowing residents to enjoy the benefits of personal authentication as they move around the property.

Inside PROFILEconnect: Meet Our Keynote Speaker Gil Dezer and Co-Host Ronny Finvarb

PROFILEmiami and The Finvarb Group are pleased to announce Gil Dezer, President of Dezer Development, as Keynote Speaker and Ronny Finvarb, Principal at Finvarb Group, as Co-Host for PROFILEconnect: Rooftop Cocktails & Bespoke Networking at Kimpton Palomar South Beach.

For first installment of PROFILEmiami’s highly-anticipated PROFILEconnect high-end bespoke networking event series, PROFILEmiami teamed up with the Kimpton Palomar South Beach, the Finvarb Group, Osteria Morini and E11EVEN Vodka to host an evening soirée of bespoke networking and poolside cocktails and hors d’oeuvres, while enjoying the sunset over South Beach’s iconic skyline.

Keynote Speaker: Gil Dezer, President of Dezer Properties

One of the youngest developers of luxury high-rise residential and condo-hotel properties in the United States, Gil Dezer has been instrumental in changing the face and value of South Florida real estate. He has earned wide recognition as a key developer at the forefront of the luxury brand partnership real estate trend and continues to actively partner with major brands to further spotlight South Florida to buyers globally.

Most recently, Gil announced his partnership with Bentley Motors to construct the first ever Bentley Residences, 200-plus oceanfront residences which will launch sales later this year. Standing at 749 feet and over 60 stories high, the property will be the tallest residential tower on a U.S. beachfront.

Other Dezer Development oceanfront projects include the first-ever Residences by Armani/Casa tower in partnership with the iconic fashion and furnishings designer, Giorgio Armani. Developed in partnership with the Related Group, the project recently achieved its $1 billion sellout. Gil also partnered with Porsche Design Group to deliver Porsche Tower, a 60-story ultra-luxury tower showcasing a one-of-a-kind Patented robotic parking system known as the “Dezervator,” which allows owners to park their vehicles in ‘sky garages’ directly next to their units. Gil also led the Trump Organization’s first foray into the South Florida real estate market through the successful development of Trump Grande Ocean Resort and Residences and Trump Towers.

Notable future projects include the Intracoastal Mall, which will bring 2,000 residences, 375,000 square feet of retail, 200,000 square feet of office, a hotel, harbor and park to the Miami waterfront site, transforming the nearly 30-acre property.

Gil holds a Florida real estate license and is the past president and Chairman Emeritus of the Developers & Builders Alliance (DBA), one of the world’s largest development and construction organizations. He is a past recipient of the Greater Miami Chamber of Commerce’s R.E.A.L. Award for Residential Real Estate – Condominiums, and has taken home the Platinum Personal Achievement Award for Sales Director of the Year for Trump Grande Ocean Resort & Residences for three years in a row at the annual Florida’s BEST Awards.

Active in the community, Gil holds several positions including co-founder of the Mount Sinai Medical Center Foundation; Young President of the Miami Heart Institute; and member of Florida Friends of Israeli Defense Forces (FFIDF); Project Cradle in Miami; WIZO Florida; and One Family Fund Organization.

Co-Host: Ronny Finvarb, Principal of Finvarb Group

Ronny Finvarb, Principal of the Finvarb Group, develops and owns award-winning hospitality projects, including multiple Marriott-branded hotels in Florida, Texas and Arizona, the Kimpton Palomar South Beach, Osteria Morini restaurant, and just broke ground on the highly-anticipated Thompson South Beach, among others.

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.

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.

Ronny is an active member of YPO, the premier leadership organization of chief executives in the world. In addition, Ronny serves on the following Boards:

• Board Member of the University of Miami Master of Real Estate Development and Urbanism (MRED+U) Advisory Board

• Board Member of the University of Miami Citizens Board

• Founders Board of Mount Sinai Medical Center

• Miami Beach Chamber of Commerce’s Pillar Trustees Board of Directors

About PROFILEconnect:

PROFILEmiami and The Finvarb Group are pleased to present the first installment of PROFILEmiami’s highly-anticipated PROFILEconnect high-end bespoke networking event series. PROFILEmiami has teamed up with the Kimpton Palomar South Beach, the Finvarb Group, Osteria Morini and E11even Vodka to host an evening soirée of bespoke networking and poolside cocktails and hors d’oeuvres, while enjoying the sunset over South Beach’s iconic skyline.

PROFILEmiami has curated a truly Miami Beach soirée experience. Enjoy signature cocktails by E11EVEN Vodka complete with a full open bar & Hors d'oeuvres by Osteria Morini poolside on the rooftop of one of Miami Beach’s hottest new hotels, the Kimpton Palomar South Beach. The relaxed and open setting provides an amazing opportunity to network with Miami’s top industry leaders and market makers, highlighted by Keynote Speaker Gil Dezer, the developer of Bentley Residences. Following the event, make your way downstairs to Osteria Morini, recently awarded Best Italian Restaurant and Best Brunch in Miami, to finish off the evening and enjoy 10% off your meal. Guests will also enjoy specially discounted valet pricing.

PROFILEconnect brings together Miami’s real estate industry and business professionals to network and connect outside of a business setting. PROFILEconnect is attended by Miami’s top investors, developers, business professionals, brokers, financiers, architects and designers. Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders.

Who Should Attend: Developers, Investors, Financial Planners, Business Professionals, Brokers, Architects, Designers, Lenders, Wealth Managers, Lawyers, CPAs

Date: November 3, 2021 | 6 - 8 PM

Where: Rooftop @ Kimpton Palomar South Beach - 1750 Alton Rd., Miami Beach

Keynote Speaker: Gil Dezer, Developer of Bentley Residences

Tickets: $150

• Tickets include:

  • 2 Hour Open Bar w/ Cocktails & Hors d'oeuvres

  • 10% off dinner at Osteria Morini (valid evening of event) - Reservations Recommended

Location Ventures Launches Condo Sales For URBIN Mixed-Use Condo, Co-Working Lifestyle In Miami Beach and Coconut Grove

The desire to live and work in city centers throughout the world is often met with challenges in accessibility, mobility, and sustainability…until now. Location Ventures – a Miami-based, integrated real estate platform that delivers thoughtfully-designed and fully-connected residential and mixed-use projects – announced today the launch of residential sales for URBIN. A first-to-market, mixed-use brand, URBIN unites design-forward residences for short- or long-term rent with all-inclusive co-working spaces, wellness amenity programming, social activations, and lifestyle-oriented retail, all in one central address.

URBIN has initiated condo presales for its first location in Miami Beach, marking the first phase of the brand’s official launch with 60 percent pre-sold in the first 30 days. The launch of presales for a second location in Coconut Grove will immediately follow to meet growing demand. The brand will further scale with additional locations in key markets throughout the U.S., designing each to fit into the context of its carefully selected setting.

With exclusive sales and marketing representation by ONE Sotheby’s International Realty, URBIN presents turnkey units, designed in a collective living style. Priced from $400,000, residences will be available in diverse floor plans. In Miami Beach, studios will start at 275 square feet and expand to spacious multi-room residences that range from two- to four-bedrooms at up to 1,334 square feet. In Coconut Grove, residences range from studios at 331 square feet to six bedrooms at 2,352 square feet. Both locations will feature fewer than 100 units to allow for a tailored and more private living experience.

As an opportunity to own property in one of the world’s most sought destinations through URBIN, owners will have exclusive access to a lease-back program with the dual freedom to stay on property for up to 90 nights per year. While away, the residence is professionally managed by the brand and available for rent.

“URBIN celebrates a new way of living by bringing people together through home, work, and wellness in a single setting,” said Rishi Kapoor, CEO of Location Ventures. “Through integrating quality design, technology, wellness and social programming, we’re hoping to foster community and enable a high-quality of life in these city-centric ‘urban’ neighborhoods.”

URBIN residences will offer various layouts and provide a selection of shared spaces per unit, such as a common kitchen, dining and living area. The contemporary-designed condos are fully furnished and include efficient layouts to maximize space, while featuring high-end fixtures and Energy-Star stainless steel appliances, and plenty of storage space. Enticing, service-driven amenities, such as housekeeping, room service, and valet are complemented by on-site food and beverage venues; a wellness center with programming for mindfulness, movement, nourishment, and healing; and a rooftop pool deck with green spaces and lounge areas.

From owners of large enterprises to remote workers, URBIN’s co-working space brings a heightened level of service to the work experience. Members are given access to bespoke support tools, including consulting, administrative and networking, to further drive their business goals. Those who utilize the space are not required to live on property; however, members who both live and work at URBIN unlock exclusive rates.

URBIN Miami Beach, located at 1260 Washington Ave., is designed by Touzet Studio, led by Carlos Prio-Touzet and Jacqueline Gonzalez-Touzet. The building’s façade will complement the playful energy of Miami Beach, featuring geometric styles and colors found throughout the neighborhood with a nod to its Art Deco heritage. Its common area and amenity interiors are curated by Meyer Davis, the award-winning design studio from New York City. The property will undergo a complete renovation to the existing 33,488-square-foot site, in addition to the ground-up development of a 44,000-square-foot building.

URBIN’s second location is at 3162 Commodore Plaza in Coconut Grove, a less than five-minute walk from the newly-unveiled CocoWalk. Arquitectonica and Paredes Architects designed the exterior to integrate seamlessly with the contemporary new builds in the surrounding area. The residences will feature interior design by am studio, a boutique design collaborative committed to creating cohesive, resourceful, and oneiric spaces. The development of URBIN Coconut Grove will include the conversion of a nearly 33,000-square foot commercial building, roughly 5,000-square-foot restaurant, and 23,490-square-foot property, as well as a ground-up development.

URBIN will join the renaissance and expansion currently underway on Washington Avenue and Commodore Plaza – two streets situated in two of the city’s most thriving and in-demand districts. The sales launch of URBIN aims to reach both domestic and international investors attracted to South Florida by providing a unique live-work-well offering in the market.

For more information, please visit www.urbincondos.com or call 305.376.7274.

About URBIN

URBIN is a first-to-market, mixed-use brand with properties situated in renowned locations, offering an authentic, responsible, and flexible lifestyle when living and working in city centers. The first two locations will be in Miami Beach and Coconut Grove, Florida, with additional locations in key U.S. markets forthcoming. URBIN, developed by Location Ventures, the Miami-based real estate investment and development firm, has a vision to create places where one can live, work, and seek wellness in the heart of coveted neighborhoods. Each property will feature a membership-based platform and unite condos with all-inclusive co-working spaces, wellness amenities and programming, social activations, and lifestyle-oriented retail. URBIN features design-forward, turnkey rental residences with a select number available for purchase. Owners can enjoy their abode for personal use, for up to 90 nights per year; while away, the residence is professionally managed by the brand and available for rent through the property’s exclusive lease-back program. Exclusive sales and marketing for URBIN residences is by ONE Sotheby’s International Realty.

URBIN is backed by investors David Martin, CEO of Terra Group; Rudy Touzet, CEO of Banyan Street Capital; the Murphy family of Coastal Construction; former New York Jets and New Orleans Saints linebacker Jonathan Vilma; Gabriel Navarro, Marcel Navarro and Martin Pico of MMG Equity Partners; Marty Halpern of UnitedTranzactions; and a group of owners from Location Ventures.

About Location Ventures

Location Ventures is an integrated real estate platform that provides comprehensive investment, development, management, marketing, and sales for residential and mixed-use properties in the South Florida market and beyond. Location Ventures invests in one-of-a-kind living experiences that make the highest and best use of unique development locations. The company’s more than $600 million portfolio contains a mix of ultra-luxury single-family homes, boutique condominiums, and an urban-centered mixed-use project where young professionals live and work at one address.

About ONE Sotheby’s International Realty

ONE Sotheby’s International Realty is South Florida’s premier source for luxury real estate and development opportunities with 17 offices spanning from Miami and Key Biscayne to Palm Beach and Stuart. Since its inception in 2008, ONE SIR has recruited more than 800 of the world’s most passionate and well-connected agents, backed by a global brand with a heritage of unsurpassed quality, value and trust. ONE Sotheby’s International Realty’s direct affiliation with Sotheby’s Auction House and Sotheby’s International Realty has offered the company unparalleled, global reach – an attribute sellers reap the full benefit of as their homes receive prime exposure to a network of more than 22,000 associates in 72 countries and territories across 960 offices. In addition to its luxury brokerage division, the firm also offers a development sales division representing some of South Florida’s most successful and prestigious condo developments with a total inventory of over $3.5 billion. With a vision rooted in providing exceptional service, superior market knowledge and the latest technology, ONE Sotheby’s International Realty is dedicated to giving extraordinary lives a home to thrive. www.onesothebysrealty.com

Images via Location Ventures

The article was produced in partnership with Location Ventures

Miami Heat Icon Chris Bosh's Former North Bay Road Estate Hits Market For $42 Million

Seeking a record price at $42 Million, the estate formerly owned by Miami Heat star Chris Bosh is the only move-in-ready residences available on the prestigious North Bay Road. Celebrity neighbors include Cindy Crawford and Rande Gerber, Karlie Kloss and Joshua Kushner, with former star owners including Dwyane Wade and Gabrielle Union. The home is seeking an overall record, but still lower price per square foot ($3,500) when compared to other recent sales like the sale of Phil Collins and Jennifer Lopez’s former home at 5800 North Bay Road which sold for $39 million at about $4,000 per square foot. Bosh sold the same property now seeking $42 million in January 2021 for $15.2 million, the massive price increase reflecting the strong demand for waterfront real estate in Miami.

Upon arrival into the lushly landscaped property, guests will be greeted by a living green wall and a garden courtyard area with water installations that highlight the home's perimeter. Developed by AquaBlue Group and conceptualized by Touzet Studio, the gut-renovated home features seven bedrooms and eight bathrooms, and a cozy modern atmosphere created with wood and stone perfectly placed throughout. The double-height great room is surrounded in glass, highlighting the captivating views of the bay and garden. Each corner of the home is intentionally and perfectly positioned to flow seamlessly together with high-end finishes from custom millwork to Italian marble slabs.

The grand master suite is as lavish as they come with large closets, oversized bathroom with tub and dual sinks, morning kitchen and of course, stunning views. The kitchen is a host and hostesses dream with a custom Italian expansive chef’s kitchen with a huge island.

The outdoor oasis features a mosaic tile infinity pool, a detached outdoor kitchen and cabana bathroom plus a separate guest quarters. The fully automated smart home also features a commercial-grade elevator and more.

6396 North Bay Road is listed for $42 million by Albert Justo & Mirce Curkoski with The Waterfront Team at ONE Sotheby’s International Realty.

57 Ocean Achieves $330 Million Sell-Out And Receives TCO With Closings To Begin In October

57 Ocean condominium on Miami Beach’s iconic Millionaire’s Row has announced that it has achieved a $330 million sellout and has received its TCO. Closings are set to begin in October. Sales and marketing launched in 2018 and were led by Fortune Development Sales. Located at 5775 Collins Ave., 57 Ocean was developed by Brazilian billionaire Dr. José Isaac Peres’ Multiplan Real Estate Asset Management, led by managing partner Marcello Kingston.

57 Ocean offers 81-units which come in two to four-bedroom floor plans which started at $1.5 million. Units range in size from 1,200 to 3,600+ square feet, as well as 18 flow-through Sky Residences. The well-appointed homes feature expansive terraces, each stretching 12 feet deep, as well as contemporary Italian kitchens and baths by Poliform. The buildings crown jewel penthouse sold for $36 million, a 7,500 SF Sky Residence with an additional 7,000 SF of outdoor space.

Five-star amenities will include a holistic spa by One Ocean Beauty and products from its marine-based skincare line, a wellness pavilion with a thermal suite and a relaxation and meditation area, along with poolside treatment cabanas, 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.

High-net-worth individuals have been attracted to 57 Ocean from across the globe, but primarily from New York, which accounts for over 65% percent of the tower’s domestic purchases. Buyers singled-out the project for its unparalleled location, contemporary designs by Arquitectonica and interior architect Patricia Anastassiadis, and robust assemblage of holistic “Blue Wellness” amenities and services.

Check out PROFILEmiami’s full coverage of 57 Ocean

Renderings via DBOX

For more information about 57 Ocean, private showings or purchasing/ leasing information please fill out the form below:

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

Check Out This Waterfront Spec Mansion On The Blazing Hot Palm Island Which Just Sold For $29.5 Million

A waterfront spec home on Miami Beach’s prestigious Palm Island has sold for $29.5 million as real estate on the island continues to push higher. Located at 135 Palm Ave, the new construction home was developed by Sabal Development and was listed with Jeff Miller of ONE Sotheby’s International Realty and Mathieu Rochette of Compass, who represented the seller. The buyer was represented by Liz Hogan with Compass.

The agents involved in the deal have completed several high-profile transactions on the island in the past few years. Miller sold 73 Palm in 2019 for $24.5 million while Hogan has sold 3 homes on the island over $25 million this month, including 94 Palm for a record $30 million and 370 S Hibiscus for $26.5 million.

The new construction modern 8 bedroom, 8.5 bathroom home features vast open living spaces tastefully furnished by world renowned brand Roche Bobois and seamlessly integrating indoor/outdoor living and entertaining. A spacious 1st floor features an open chef and prep kitchens, formal and informal dining rooms, movie theatre and guest suite. Upstairs offers a custom glass staircase or elevator and Master Suite with sweeping water views and an open flow with dual vanities and showers, floating tub, custom walk-in closets and midnight bar. The secluded backyard features an infinity-edge marble pool and jacuzzi, summer kitchen and cabana with sauna overlooking 100’ of water frontage. The property also features a guest House, 6 car garage, SAVANT smart- home, and rooftop lounge.

Miami’s ultra-luxury waterfront real estate market has been on fire lately. On Palm Island boxing legend Floyd Mayweather recently purchased a waterfront mansion for $18 million. Dreampact Ventures co-founder Fued Sadala purchased 9814 West Broadview Drive in the Bay Harbor Islands for $12 million, a record for a waterfront sale in the neighborhood; famed musician and producer partners Emilio and Gloria Estefan sold their Star Island “guest estate”for $35 million; real estate investor Andrew Mirmelli recently closed on a Hibiscus Island home for $21 million before immediately listing it for $30 million; spec home developer James Curnin sold his Modern Farmhouse on Allison Island for $13,875,000; and the Miami-Dade record for most expensive home was broken with the currently under construction 3488 Saint Gaudens Road in Coconut Grove selling for a record $65 million.

Images via Jeff Miller, ONE Sotheby’s International Realty