Inside The Miami Beach Market Update Panel Hosted By JDS & Douglas Elliman At Monad Terrace

Douglas Elliman and JDS Development hosted an in-depth panel discussion on July 26 exploring both developing and selling Monad Terrace as well as reviewing Miami Beach's current real estate market. The panel gave listeners insight from industry titans Jay Parker, CEO of Douglas Elliman Florida and Michael Stern, founder and Managing Partner of JDS Development. The discussion was led by Lena Katz, a writer at Forbes and was hosted in the sales gallery at Monad Terrace. Parker and Stern explored the strength of the Miami Beach luxury real estate market and how there has been steady demand and still rising prices. The duo also discussed how the location of Monad Terrace allows residents to enjoy Miami Beach as a walking city, not needing to wait in heavy traffic during high times such as Art Basel and Miami Music Week. Stern also credited Jean Nouvel for the unique design of the building and how the highly amenitized project has had steady sales under the watchful eye of Douglas Elliman Development Marketing. 

Residences at Monad Terrace range from two- to five-bedrooms and 1,453SF to 5,350 SF of interior space. Features include private elevator access, custom kitchens and bathrooms by Jean Nouvel and sprawling outdoor terraces. The building offers a true indoor-outdoor living experience, featuring climbing gardens and reflecting pools that complement the property’s central lagoon and ocean views. 

Construction on the project is well underway and is expected to be completed in fall 2019. The project's design, which was designed in collaboration with the Miami based Kobi Karp fuses environmental responsibility with innovative climate resilience features into the architecture, starting by elevating the building 11.5', well over Miami Beach standards.The tower is expected to go vertical in Spring 2018 and estimated to be completed in Fall 2019. Sales and marketing for Monad Terrace is managed exclusively by Douglas Elliman Development Marketing. 

Check out PROFILEmaimi's coverage of Monad Terrace

Warehouse In Little River Sells For $10.4 Million

A warehouse located on the corner of North Miami Avenue and 71st St. in Little River has sold for $10.4 million. The sale, which was brokered by Tony Cho's Metro 1, a leading real estate brokerage, management and development firm, includes a 49,000 SF warehouse on 77,000 SF of land. The property is currently at 84% occupancy, housing a variety of creative and entrepreneurial tenants. Metro 1’s CEO and Founder Tony Cho, Vice President of Metro 1 Commercial Andres Nava and Sales Associate Jack Conrad brokered the deal on behalf of both buyer and seller. The buyer, 7101 N Miami Ave LLC’s Manager John Matthews, was represented by attorneys James Marx and Steven Rosenthal of Marx Rosenthal PLLC.

“We are extremely pleased with our acquisition in Miami and could not be happier with Metro 1. Their vision for the area excites us and we are looking forward to contributing in a positive way,” said John Matthews. 

“Miami’s Upper East Side is quickly gaining traction with investors from around the country,” said Cho. “We were among the first organizations to focus on this area and although the change is just now getting started, it’s really night and day. What’s really motivating is that we’re seeing demand from people interested in preserving and advancing the area’s existing personality. They like what they see and want to help the entire neighborhood reach its full potential.” 

The transaction comes only a few weeks after Metro 1 announced the start of commercial leasing for the nearby Magic City Innovation District (MCID), a highly anticipated 17.7-acre Innovation District in Miami’s Little Haiti and Little River neighborhoods. Spanning six city blocks, MCID intends to redevelop the Little Haiti and Little River neighborhoods to create a walkable, campus-like neighborhood where individuals from all demographic backgrounds can enjoy a quality life.

PROFILEmiami Presents An In-Depth Exploration Into Short Term Rentals In Miami & South Florida

Short Term Rentals. A triggering and controversial term in Miami. Unless you live in a cave you have probably used a site like AirBNB to book a room to travel or host visitors in your own pad. Short Term Rentals have been all the rage in Miami as investors have flocked to buy properties approved for short term rentals as unsuspecting guests have been ambushed by police trying to enforce Miami Beach's strict short term rental laws. Fines have never been higher and the cities are adjusting every day.

PROFILEmiami is leading an in-depth exploration into short term rentals with an All Star list of panelists including David Arditi, Developer of YOTELPAD, and Ben Breit, Public Affairs Manager for AirBNB Florida. Enjoy complimentary open bar wine and cocktails as we explore topics including how do you property invest in short term rentals? What are your actual legal rights as a host or guest and how may they change? What is the relationship between cities in South Florida and hosts offering short term rentals? How are host platforms such as AirBNB working with cities in South Florida to address problems that have arrisen? Amongst others.

Speakers:

• David Arditi, Aria Development/ Developer of YOTELPAD
• Ben Breit, Public Affairs Manager for Airbnb Florida
• Dana Goldman, Vice Mayor of City of Sunny Isles Beach
• Rodolfo Manzon, Spectrum Realty Group
• Moderated by Demetri Demascus, Publisher of PROFILEmiami

Date: August 21, 2018
Time: 7-9 PM
Location: Brickell Hive, 1548 Brickell Ave, Miami, FL 33129

RSVP: https://miamishorttermrentals.eventbrite.com

Drinks & Light Bites provided by PROFILEmiami & Spectrum Realty Group

Complimentary Parking @ 1770 Brickell Ave. (Immanuel Lutheran Church)

Sponsored By: PROFILEmiami, Spectrum Realty Group, Game Day Skincare & Creative Glue

Robert Wennett Proposes Bjarke Ingels-Designed Special Area Plan For Miami Produce Center In Allapattah

Robert Wennett has submitted a Special Area Plan to build a mixed-use complex, Miami Produce Center, in Allapattah designed by none other then the starchitect Bjarke Ingels and his firm BIG Architects. The project is proposed on 8.54 acres located at Northwest 21st and 22nd Streets, and between Northwest 13th and 12th Avenues. The proposal will feature 8 buildings will offer over 860,000 SF of residential; 231,000 SF of office space; 114,000 SF of hotel; 76,000 SF of school, 75,000 SF of retail and 1,149 parking spaces. Wennett, who developed the iconic Herzog & de Meuron-designed 1111 Lincoln Road parking garage, purchased the property in 2016 for $16 million and closed on $20.6 million of financing for the properties via SunTrust Bank in August 2018. 

PARAMOUNT Miami Worldcenter Tops Off In Downtown Miami With Over $400 Million In Sales

PARAMOUNT Miami Worldcenter has officially topped out in Downtown Miami as the tower is now an icon on the Miami skyline. Development and construction teams celebrated the banner moment by raising 50 flags from around the world atop the Miami Skyline in celebration of the more than 550 construction workers who helped achieve the milestone. The 50 flags represent the most global buyers in one residential building in the United States. The signature residential tower of the massive 27-acre mixed-use Miami Worldcenter development is being developed by Dan Kodsi, Nitin Motwani, and Art Falcone and the project’s general contractor, CoastalTishman, a joint venture between Coastal Construction and AECOM Tishman. Construction crews from CoastalTishman poured the massive building foundation in October 2016.

“This is a banner moment for PARAMOUNT Miami Worldcenter and we celebrate our construction team, sales team, financial institutions and future residents from around the world who made this vision possible,” said developer Dan Kodsi. “Miami has become a truly global city and this building is a clear indication of that with buyers from more than 50 countries. We take enormous pride in knowing that this tower reflects the soul of Miami – its diversity and potential has resounded overwhelmingly with families from around the world and we are one step closer now to welcoming our first residents home.” 

“The completion of vertical construction at PARAMOUNT – our signature condominium tower – marks another major milestone for Miami Worldcenter and the continued metamorphosis of downtown Miami,” said developer Nitin Motwani, managing principal of Miami Worldcenter Associates. “I want to personally thank CoastalTishman, and our entire team of professionals who helped us reach this stage. From this point forward, we’re going to see a steady stream of Miami Worldcenter’s mixed-use elements delivering to market – residential, retail, office and hotel – as our vision for a ‘city within a city’ in Downtown Miami becomes reality.”

“All of us at CoastalTishman are honored to build this landmark tower for Paramount Ventures and commemorate this moment with the entire team,” said Tom Murphy, Jr., chairman and CEO of Coastal Construction Group. “It’s so gratifying to be a part of such a visionary development that is changing Miami’s cityscape.”

PARAMOUNT Miami Worldcenter is the only residential tower currently for sale within the mixed-use Miami Worldcenter site. The tower features the largest amenity deck in the U.S., spanning 90' above downtown Miami featuring an extraordinary array of action-packed amenities that includes the country’s first outdoor soccer field to be featured in a high-rise residential development; two tennis courts; a resort-style pool; and multiple bungalows and villas, among others. In all, PARAMOUNT Miami Worldcenter offers 500 city- and bay-view residences. Units range in size from 1,180 SF to 2,350 SF, with and prices start around $750 SF.

PARAMOUNT Miami Worldcenter has achieved more than $400 million in sales. The tower is constructed atop Miami Worldcenter’s high street retail component, a pedestrian-oriented shopping streetscape that is being developed in collaboration with The Forbes Company and Taubman. Miami Worldcenter’s retail plan reflects downtown Miami’s emergence as one of the country’s fastest-growing urban centers, home to a population that has doubled in size since 2000, with a streetscape that has become more pedestrian-friendly in recent years.

Check Out This Stunning DOMO-Designed Pine Tree Drive Waterfront Estate Which Just Sold For $19.25 Million

A stunning waterfront estate designed by DOMO Architecture + Design and located on the ultra-luxe Pine Tree Drive at 4395 Pine Tree Drive, has sold for $19.25 million. The estate, which was built in 2015, is designed to fuse indoor and outdoor living with disappearing, sliding glass pocket doors. In all the home spans 9,583 SF and offers 8 bedrooms and 9 bathrooms. The estate features a 1,000 bottle wine vault, home gym, media room, guest suite, koi pond, 4-car garage. Outside features lush landscaping, an infinity pool with planters and 100' of waterfront. The home had listed with the Jills Coldwell Banker Residential Real Estate for $23 million.  

Photos via The Jills & Zachary Balber

Movement At 1836 Biscayne As Fifteen Group Applies For Unity of Title Nearing Construction Permit

Fifteen Group is inching closer to their construction permit at 1836 Biscayne after recording a Covenant in Lieu of Unity of Title. In March 2017 PROFILEmiami covered Fifteen Group's application to replat the property which would allow them to build the 34-story residential tower over the historic Christian Science Church, originally built in 1925. In 2016 the developers were issued administrative approval for a waiver on Miami 21 zoning code. The project is expected to offer 350 apartment residences, a 9-story parking garage with 480 parking spaces and the historic church component would become over 20,000 SF of retail. No construction permits have been applied for yet. 

Moishe Mana Gets $20.13 Million Loan To Build Mana Wynwood Americas-Asia Trade Center & International Financial Center

Moishe Mana has secured a $20.13 million construction loan to build Mana Wynwood Americas-Asia Trade Center & International Financial Center. The financing was provided by Centennial Bank to Malux Realty, Malka Realty and Mizrachi Holdings for properties at 2337 Northwest Fifth Avenue, 375 Northwest 23rd Street, 394 Northwest 24th Street and 382 Northwest 24th Street. Mana plans to build Mana Wynwood Americas-Asia Trade Center & International Financial Center which will feature 10 million SF of commercial space as a trade hub to encourage and facilitate trade between China, Asia, Latin America, North America and the Caribbean. The project will be built in multiple phases with phase 1 including developing 8.5 acres of Wynwood with 4.68 million SF of Class A office space, showrooms, retail, hotels and public space. The total project In 2016 Mana's special area plan for Wynwood was approved covering nearly 40 acres including 51,000 SF of civic space, 3,500 residential units, 8,500 parking spots, the 2.5 acre Mana Commons private park.  

PMG & Greybrook Realty Partners To Begin Demolition On 400 Biscayne

PMG and Greybrook Realty Partners have filed an application for a demolition permit to begin work on 400 Biscayne. The developers will demolish the 27,984 SF First United Methodist Church and BG Group has been listed as the demolition contractor. PMG & Greybrook Realty Partners will build a 750' tower with 704 residences and will later build a second phase which is not yet announced. The First United Methodist Church will occupy a retail space in the new 400 Biscayne when complete. 

The Beverly Hills-Based Brokerage, The Agency, To Open Miami Office

 The Beverly Hills-based high-end brokerage The Agency, of Million Dollar Listing Los Angeles fame, will be opening their first Miami location. The firm currently has 19 offices, including in the Caribbean, as well as over 350 agents. Their current office mix includes Beverly Hills, in addition to Brentwood, Calabasas, Danville, Malibu, Noe Valley, Venice, Orange County, Pacific Palisades, Palm Desert, Park City, Scottsdale, Sherman Oaks, Turks and Caicos, Los Cabos and Punta de Mita. The Agency was founded by Mauricio Umansky, Billy Rose and Blair Chang in 2011.