Aspire Real Estate Development To Break Ground On Arya Oceanside Residences In March in Pompano Beach

Aspire Real Estate Development expects to break ground on Arya Oceanside Residences in Pompano Beach in March. The boutique residential condo project was designed by IDEA Architecture + Engineering with interiors by Steven G. and will feature 19, 2-bedroom + Den units. Units will range from 1,450 SF to 1,657 SF and will feature contemporary kitchens, quartz countertops, smart home packages, and wraparound balconies. Pricing will start at under $650,000. Arya Oceanside Residences will be located at 336 Sunset Drive and the sales center is expected to open in December (2017). The Keyes Company is the exclusive sales and marketing broker for the project. 

Brick O. Real Estate Officially Opens The Ivory On Bay Harbor Islands

Brick O. Real Estate has officially opened their new Bay Harbor Islands condo project, The Ivory, located at 9261 East Bay Harbor Drive. The residential condo building, designed by Frankel Benayoun Bodas Mani Anger, rises 9-stories and features 40 residences. Residences are priced from the low $700,000's to $2.6 million and the project is currently over 70% sold. Units feature modern kitchens with stainless steel appliances, spacious open floor-plans and large terraces with views of Indian Creek, Miami Beach, Bay Harbor Islands and Biscayne Bay. Amenities at The Ivory include a rooftop sundeck with pool, fitness center, meeting room and 8 boat slips. 

Zaha Hadid's One Thousand Museum Reveals First Look At Uber-Luxe Model Residence Designed By Artefacto

Zaha Hadid's One Thousand Museum has revealed the first look at their uber-luxe "preview residence" furnished by Miami-based Brazilian furnishing brand, Artefacto and designed by Joao Armentano. Artefacto outfitted the fully-built out 17th floor's interiors, fusing Zaha’s futuristic aesthetic with the brand’s signature Brazilian approach to contemporary design. Paulo Bacchi, President and CEO of Artefacto, hand selected items from the brand’s newest collection, which just hit showrooms this summer in celebration of their 15th anniversary. The 4,635 SF residence features 4 bedrooms and 5 bathrooms with a half-bath. The unit features elegant and timeless warm tones and clean lines to complement the building’s curvaceous architecture, floor-to-ceiling windows overlooking the bay and Museum Park, and an impressive art collection curated by Sarah Jane Bruce (SJB Fine Art Services) and Flavia Masetto (Flavia Masetto Fine Arts). Once completed the residence sold within days for $6.8 million. 

The 62-story One Thousand Museum by Zaha Hadid Architects is on track for delivery in 2018. The building is Zaha Hadid's first residential skyscraper in the western hemisphere and is being developed by Louis Birdman, Gregg Covin, Kevin Venger and the Regalia Group with Plaza Construction as the general contractor. One Thousand Museum's design features an exoskeleton design which acts as the buildings structural support. This allows the developer to remove columns from the units, creating expansive glass views of Biscayne Bay. The tower will feature only 83 units ranging from $5.5 million to over $20 million and 4,600 SF to over 10,000 SF. Amenities will include Miami's only private rooftop helipad, state-of-the-art fitness center, spa, two pools, indoor aquatic center, and a sky lounge. Check-out our PROFILE Exclusive interview with developer Louis Birdman for an inside look at bringing the futuristic tower to fruition.

Photography by Robin Hill Photography

Galwan Tabs Wyndham To Mange Arquitectonica-Designed Brickell Hotel As Wyndham Grand® and TRYP by Wyndham®

Wyndham Hotel Group has announced that they have signed a contract to operate one of the largest hotel developments in the Brickell district of Miami. The hotel, located across from Brickell Mary Village, is being developed by Brazilian developer Galwan and will rise 41 stories featuring 445-keys. When completed the Arquitectonica-designed hotel will be the largest hotel development in Brickell. Wyndham will use the property to showcase as a dual-branded hotel, leveraging a never-before-seen combination of the Wyndham Grand® and TRYP by Wyndham® brands. Both hotels will have a Miami vibe with the 200-key Wyndham Grand® being an upscale service-oriented brand and the 245-key TRYP by Wyndham® serving as a more localized, lifestyle brand. The hotels will share a lobby and lounge space on the first floor, an 8-story parking garage, a pool deck, a fitness center, rooftop restaurant and bar, and 8,000 SF of meeting space including a library, boardroom and flexible event spaces. Construction on the hotel has not yet started and the developers expect the hotel to be completed in 2019. Wyndham Hotel Group is a hospitality giant with an global portfolio of more than 8,300 hotels.

“With nearly 16 million visitors last year and projected increases for the years ahead, Miami continues to be one of the world’s most coveted travel destinations with a style all its own,” said Mark Kukulski, president of Wyndham Hotel Group’s management organization. “By combining our most worldly, destination-centric brands, we’re offering travelers a taste of Wyndham Hotel Group, Miami-style – with chic shared spaces, trendy dining options and their choice of brand experience via TRYP by Wyndham’s lifestyle flair or Wyndham Grand’s easy elegance.”

Craig Robins Announces That Sales In The Miami Design District Are Up 40% In Past 6 Months As New Stores Open

Just before Art Basel, celebrity developer Craig Robins, founder and CEO of Dacra as well as Design Miami, has announced that Miami Design District has nearly doubled in size with the opening of several new buildings and stores including Rag & Bone. For the past 3 years, the district was only half-open, offering some of Miami's finest shopping with stunning designed buildings and beautiful walking streets. Miami Design District was on the way, but as Robins is building an entire new part of the city from a formerly desolate Little Haiti area, great things take time. Now, he explains, Miami Design District is starting to come into its own and for the first time shoppers and visitors can see "its full offering." Robins holds that retail sales in Dacra's Miami Design District properties have increase 40% in the past 6 months. The next stage will be the opening of 10 new restaurants including Ember and Kaido (restaurant by Chef Brad Kilgore), St. Roch Market (food hall), L’Atelier by Joël Robuchon (fine dining), Le Sushi by Joël Robuchon (Japanese), Le Bar by Joël Robuchon (lounge), Le Boutique by Joël Robuchon (bakery), Blue Bottle Coffee, and Roberta’s pizza. Also opening soon will be the Institute of Contemporary Art (museum), Gucci, Aesop, Creed, Empresa, Dolce & Gabbana, Celine, Joseph, Eres, Ralph & Russo, and Museum Garage which will bring 800 parking spaces. Some of the brands will be moving from their temporary locations to the final, permanent locations.  

Paradise Plaza, the open-air northern anchor of Miami Design District which is located 2 blocks north of Palm Court, will open in late November with many of the restaurants still finishing buildouts which are expected to open in December and January. Gwyneth Paltrow’s Goop GIFT is already open in Paradise Plaza, which will offer more dining options than Palm Court. Connecting Paradise Plaza to Palm Court will be Paseo Ponti, an art-lined walkway which also features the already open OTL (cafe), Cartier and Hermès, amongst others. Also opening in early 2018 will be the Museum Garage which will have spots for 800 cars and will feature eccentric art installations by 5 different artists as the facade. Robins is expected to announce the Sweetbird North Hotel in the next few months. Stay tuned to PROFILEmiami for the most up-to-date coverage of Miami Design District. 

EWM's Riley Smith and Maria Loughlin Close Record Sale At Oceana Key Biscayne

Last week EWM Realty International’s Riley Smith and Maria Loughlin of The Riley Smith Group announced the record breaking sale of Oceana Key Biscayne NO. 1101S for $7,350,000, the most expensive condo residence sold on Key Biscayne since 2015 (November 17, 2017). The unit spans 4,080 SF spread over 4 bedrooms, 7 full bathrooms and 1 half-bath. The residence also features 4 2,000 SF of wraparound terraces featuring breathtaking vies of the Atlantic Ocean, Biscayne Bay, Key Biscayne and the Miami skyline. Oceana Key Biscayne is located at 360 Ocean Drive and full-service amenities include 500' of beachfront, restaurant, full-service spa, 2 pools, tennis courts, valet, concierge and a putting green. Riley Smith and Maria Loughlin represented the buyer, while the seller was represented by Monica Defortuna of Fortune International Realty.

“Luxury buyers are out there, waiting on the sidelines, and they appreciate what Miami -- and Key Biscayne, in particular -- have to offer,” said Loughlin. “There’s a great deal of pent-up demand in this market.  High-end buyers are looking for lucrative value as much as they are top-of-the-line features.”

Zaha Hadid's Personal W South Beach Condo Cuts Price To 6.5 Million

The price at Zaha Hadid’s W South Beach  condo has been cut to $6.5 million, down $3.5 million from the original list price. PROFILEmiami first reported in May that the late starchitect’s W South Beach condo had hit the market asking $10 million after her passing in March 2016. The oceanfront unit is 2,299 SF featuring 3 bedrooms and 4 bathrooms. The duplex unit is 2 combined floor plans with balconies wrapping the east and south. The custom furniture by the late "Starchitect" can be purchased separately but included is a separate guest apartment, which is a one bedroom facing southeast. The unit is listed with ONE Sotheby’s Ivan Chorney and Angelica Garcia. Check-out the video tour below.

Photos by Zignavisual

Miami City Commission Unanimously Votes To Approve Micro Units

Miami city commissioners voted unanimously in favor of an ordinance that ultimately paves the way for micro units in Miami. The new ordinance reduces the minimum size of a residence from 400 SF to a mere 275 SF. Where property is zoned for over 150 units per acre, the new ordinance would only apply to transit zones near the Metromover and Metrorail stations. Developers have set their sights on the fast-growing Downtown Miami and Wynwood, where land is becoming extremely scarce and expensive. Related Group, Moishe Mana, Jeff Greene, Tony Cho's Metro 1 and PMG are all in support of bringing micro units to South Florida's urban areas. Those in support of micro units hold that they bring affordable housing options to densely populated urban areas as well as allow residents to enjoy high-quality and amenity rich lifestyles in walkable, urban neighborhoods. In 2014 the Urban Land Institute published a study that claimed smaller units have higher occupancy rates; units under 600 SF had 91.3% occupancy rates while units that ranged from 600 SF to 1,000 SF had occupancy rates of 89.6% and units above 1,000 SF had occupancy rates of 89.3%. Others believe that the new ordinance will allow them to build more units on a smaller footprint. Related Group is already maxing-out the Miami 21 Zoning Code minimum unit size in their new Wynwood 25 mixed-use project that will feature 289 residential units which start around 400 SF. Wynwood 25 is under development by Related Group and East End Capital. 

Despite that, other developers feel that micro units will not make living more affordable. Carlos Melo, principal of the Melo Group, one of South Florida's most prolific and largest developers, holds that the cost of land will hold the price per unit the same no matter the size. He holds that in urban areas where land is even more scarce to assemble such as New York City, micro units make sense, but not in Miami where residents will have larger, more luxurious options for the same price and developers still have the ability to assemble land. The ability to assemble land in South Florida, in which Miami has seen the final waterfront development plots be picked up and land-banked or developed over the past cycle, has led to South Florida producing some of the finest residential buildings the world has ever seen across a variety of price ranges including NIR Investment's CANVAS to Dezer Development's Porsche Design Tower. All of these towers feature a slew of amenities from private beach clubs to squash courts and cigar rooms. Where micro units shine, there are not comparable buildings to compete with and typically residents must choose between an old but large unit or a brand new, modern, smaller unit. Few residential buildings in New York that offer units that are either micro units or would compete with micro units amenities that make buildings differ from each other. If in Miami for the same price you could live in a large, new amenity rich condo for the same price as a micro unit, the demand for micro units remain to be seen. 

Moshie Mana Expects To Break Ground In Wynwood In Early 2018

Moshie Mana expects to break ground and begin construction on his Wynwood development site within the next 3 months to show the city of Miami that he means business. Mana plans to build the Americas-Asia Trade Center & International Financial Center (TCIFC) where phase 1 of the project will include developing 4.68 million SF over the 8.5 acre site including 1 million SF of "Class A" office space, 75,000 SF of retail and restaurants, a 400-room hotel and 90,000 SF of public space including landscaped parks, gardens and walkways. Mana did not specify which buildings he will break ground on first, but the entire project is not expected to be completed in 2028. Last year, Mana fought back against the Wynwood Business Improvement District over allegations that they were cutting close to $30 million of public benefits from their Wynwood project. Mana says they will still provide $45 million of public benefits with few changes to their original proposal. They were cutting a $10 million cash payment to the commission that was in exchange for a height increase to 24 stories. Mana will still provide $7.5 million to the Overtown CRA and $2.5 million to the commission. They also fought back about claims that they would be changing the phases of the project and were sticking to their original plan. Mana is looking for investors for the Wynwood project and has spent over $350 million on real Estate in Miami, mostly in Wynwood and Flagler Street in Downtown Miami.

Glasshaus Coconut Grove Is Now 30% Sold, To Break Ground in January

Glasshaus Coconut Grove, which is being developed by GD.8 and Element Development, LLC. and designed by Varabyeu Partners, is expected to begin construction in January. The boutique condo-building is reportedly 30% sold, with 7 of its 23 residences under contract. The project will rise 5-stories and residences start at $595,000 and range up to $1.2 million, equating to around $575 SF. Units come in 1, 2 and 3 bedroom layouts that range from 1,080 SF to 2,380 SF. Units will come complete with 11' ceilings with floor-to-ceiling glass windows, Italkraft cabinetry and stone countertops in the kitchen, and a buyer's choice of wood or porcelain floors. GlassHaus will also include a fitness center, electric bicycles, zen garden, resort-style rooftop including pool, summer kitchen and lounge and underground parking. Owners will also receive a membership to the Coconut Grove Sailing Club. Fortune International is in charge of sales and Glasshaus Coconut Grove is expected to be completed in 2018.