Avra Jain and Dragonfly Investments Buy Another MiMo Motel

A partnership between Avra Jain and Dragonfly Investments, called Gold Dust 7700 LLC, just purchased a motel in the MiMo District – not far away from the Vagabond Hotel, also owned by Jain. Property records show they paid $6 million for Motel Blu at 7700 Biscayne Boulevard, a two-story, 60-unit building next to the cabaret nightclub Gold Rush. The deal breaks down to $100,000 per room.

Jain wrote that she and Dragonfly planned to enhance and renovate the hotel, and to modernize its name: Gold Dust. The partners financed the acquisition with a $5.5 million dollar loan from Continental Bank. Jain has been credited with leading new investment and preservation in the MiMo District, where she also restored the Vagabond Hotel and South Pacific Motel.

Jain says she was attracted to the aesthetics of the neighborhood and the historical designation many buildings have. Unlike many developers, she considers her local environment thoughtfully when investing to avoid disrupting residents who want to preserve the residential sentiment of their community.  

"Sense of place is created by the people there, not the developers, so it's developers' responsibility to keep the placemakers around. I’m really sensitive to that," she says. Her restoration plans aim to improve existing structures, instead of capitalizing on a higher-density project. Despite the opinion of many residents that the city favors developers, many attempts of going vertical have not approved in MiMo.

MiMo refers to Miami Modern Architecture, a local style of architecture that advanced in South Florida throughout the post-war period. It is known as a playful response to the international architectural movements, that embraced the climate and booming resort industry in Miami at the time. MiMo’s themes of glamour, fun, and material excess can be observed in the Design District, Miami Beach, and Biscayne Boulevard.

Article by: Katya Demina & Stephanie Warren

Douglas Elliman Florida Brokerage Relocates Design District Office To MiMo With Lavish Ribbon Cutting Reception

Douglas Elliman has officially opened its newest Florida office in Miami’s MiMo District located at 5555 Biscayne Blvd., replacing its previous Design District location. The full-floor 6,000 SF location houses the firm’s Miami Design District agents along with additional office space for new recruitment, Douglas Elliman Development Marketing Miami-Dade operations, public relations and marketing teams.

The firm marked the occasion, its continued growth to now with more than 1,000 agents throughout Florida and continued expansion into new regions, with a grand opening celebration on June 27th. Douglas Elliman President and COO Scott Durkin, CEO of Florida Brokerage Jay Phillip Parker, COO of Florida Brokerage Gus Rubio and Managing Broker Judith Corcos, held a ribbon cutting ceremony followed by a cocktail reception to launch the brokerage’s new office location. Guests were treated to wine and champagne along with hors d'oeuvre at the event attended by some of Miami's top real estate professionals. 

“We are pleased to offer our clients, agents and corporate team members a larger convenient office location in Miami’s MiMo District,” said Jay Phillip Parker, CEO of Douglas Elliman Florida Brokerage, “We look forward to expanding our strong foothold in the district and welcoming new agents as we continue our expansion across Florida.”

The MiMo District office will be led by Managing Broker, Judith Corcos, who previously spearheaded the previous Miami Design District location, and will showcase area developments along with a portfolio of properties for sale throughout South Florida. The beautiful, modern office features handmade lighting fixtures by Marivi Calvo and Sandro Tothill of LZF, 3D paneled walls and selected art work to complimenting and paying homage to the historic yet growing cultural scene of Miami’s MiMo District and Miami Design District. 

“As we continue to recruit the best-in-class agents, we are excited to offer our current agents and future prospects a newly designed space located in the heart of South Florida’s evolving MiMo District,” said Judith Corcos, Managing Broker of Douglas Elliman’s Aventura, Bay Harbour and MiMo District offices.

13th Floor Investments Submits Plans for Paseo Miami on Biscayne Boulevard in MiMo

Boulevard 57 may be dead but 13th Floor Investments has just submitted plans for Paseo Miami on the former Boulevard 57 site located located at 5700 Biscayne Boulevard. The project will rise 8-stories and feature 294 residential units, 26, 659 SF of commercial space, and 517 parking spaces. The proposal has currently been submitted to Miami’s Urban Development Review Board and is scheduled for review on February 21. 

Featured Listing: Tour A Stunning New Waterfront Contemporary With Panoramic Views of Biscayne Bay on The Exclusive Belle Meade Island

Step inside this stunning new construction waterfront on the exclusive Belle Meade Island. The home features floor-to-ceiling glass for dramatic, panoramic views of Biscayne Bay, Miami Beach and Downtown Miami. The residence features 7 bedrooms and 6 full bathrooms and 1 half bath spread over 7,171 SF along with a pool with its own waterfall and a private dock. Inside, the home features solid Oak Doors, Italian Cotto D'este porcelain and stunning woodwork along the walls of the living spaces. The kitchen is outfitted with custom Miele appliances and the master suite looks directly into Biscayne Bay for an unparalleled living experience. 7311 Belle Meade Island is listed for $8,695,000 with Chad Carroll and Caroline Nicolai of Douglas Elliman. 

Featured Listing: Morningside Waterfront Featuring Man-Made Beach Hits Market for $13.5 Million

A waterfront mansion in Morningside located at 5811 N Bayshore Drive has hit the market for $13.5 million. The estate features 9 bedrooms, 7 full-bathrooms and 2 half-baths over 7,011 SF. The home also features a gourmet kitchen with Carrara marble island, countertops and backsplash, a butler's pantry, cuban tiling, white-washed oak floors, a library, enormous master suite, coral stone balcony and coral stone deck and outdoor entertainment area featuring outdoor fireplace, heated pool, made-made beach on Biscayne Bay and a 35' foot dock with 151 feet of water frontage. The home was originally desiged by architect Robert F. Smith. Listing and photos by The Jills of Coldwell Banker Real Estate. 

New Mixed-Use Building Coming to 5101 Biscayne Boulevard

A new mixed-use project has been proposed by the Mattoni Group an 5101 Biscayne Boulevard in Mimo. The project will include restoring the existing historic Mimo building and will be used as a restaurant while new construction will expand the structure 19,000 SF off for office space with ground floor retail. The design and architecture will be overseen by Urban Root Associates. Miami's Historic Preservation Board will review the proposal.