SeaGlass Jupiter Island Celebrates Groundbreaking

Fontainebleau Development, LLC, and Perko Development Partners as the local co-development partner, celebrated the groundbreaking of a new oceanfront condominium, SeaGlass Jupiter Island. The condo will feature 21 luxurious residences with unobstructed ocean views and is expected to be completed in fall 2022. Attendees of the ceremony included: Jeffrey Soffer, Fontainebleau Development chairman and CEO; Bruce Weiner, Fontainebleau Development COO of Residential; Jim Cohen, Fontainebleau Development president of Residential; and Phil Perko, founder and president of Perko Development Partners. 

SeaGlass Jupiter Island is designed by architect Robert M. Swedroe of Swedroe Architecture. The residences will be designed with private terraces, outdoor kitchens, 10-foot ceilings and sweeping panoramic views of the ocean. A fob-controlled elevator will lead to a private entry foyer in each residence. Amenities include an oceanfront infinity pool, heated relaxation spa, fitness center, yoga and meditation lawn and two-story lobby. 

SeaGlass Jupiter Island is located at 1500 Beach Road, situated between the Atlantic Ocean and Intracoastal Waterway on Jupiter Island in the village of Tequesta. Sales for the exclusive condo launched in May with prices ranging between $5.9 million to over $10 million.

The Estate Companies Acquires Site For Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), has closed on the future site of Soleste NoMi Beach in North Miami Beach for $13.1 million. The project was approved in September 2020 and was designed by Form Group. The 1.78-acre site is located at 16395 Biscayne Blvd. and currently features an 8,249 square foot retail building which will be demolished. The seller was Biscayne Cove LLC, an entity managed by Enrique R. Puig, and the deal included $1 million in seller financing. When complete, Soleste NoMi Beach will rise 23-stories and will feature 367 apartment units, 2,708 square feet of commercial space and 655 parking spaces. Amenities will feature a pool deck, spa, fitness center, co-working space and a landscaped rooftop garden.

Fortune International Group Announces $6.6 Million Sale In Herzog & De Meuron-Designed Jade Signature

Fortune International Group has announced the $6.6 million sale of a move-in ready residence, No. 4901, in the developer’s award-winning Jade Signature condominium tower in Sunny Isles Beach. The transaction represents the sale of the last remaining residence outside of Jade Signature’s “The Collection,” a portfolio consisting of the tower’s most luxurious offerings, including two-story Sky Villas and a soon-to-be-unveiled two-story penthouse, ranging from $11.9 million to $29.5 million. The listing agent was Fortune Development Sales and the in-house agent assisting the sale was Elizabeth Garcia. The buyer was represented by Saddy Delgado Abuanza with One Sotheby’s International Realty.

“This residence is among the most stunning in Jade Signature – reflective of the building’s overall attention to detail that has made it among the most sought-after in South Florida,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Representing our last residence outside of “The Collection” offerings, the sale of No. 4901 is a testament to the tremendous demand among well-heeled buyers to live in this tower, as each of our turnkey homes have been met with almost immediate purchase.”

The sale No. 4901, which was finished by Fortune International Group Construction Division, is the latest in a string of recent turnkey residence sales at the property, including seven over the past year, as the pandemic only amplified the demand for fully finished, move-in-ready residences. Jade Signature was designed by Pritzker prize-winning architecture firm Herzog & de Meuron, with interiors by Parisian interior design firm PYR and landscaping by architect Raymond Jungles Inc.

The unit featuresflow-through views of both the ocean and Intracoastal Waterway, the five-bedroom, six-and-a-half-bath home features 4,953 square feet of space as well as 1,454 square feet of sprawling terraces. Stunning accents and finishes abound, including exceptional millwork and an utterly timeless palette of beige and white, complemented by floor to ceiling glass windows and sliding doors throughout and the addition of artfully placed bronze mirrored panels to reflect the beautiful colors of the sea.

The light-filled residence is complemented by 10-foot ceilings, walls of glass, and an open floor plan. Designed for entertaining, the home features a family room, living room, dining room, bar, playroom and service quarters. The unit also features a kitchen with European designer cabinetry handcrafted by Snaidero and appliances by Gaggenau® and Sub-Zero®. The master bedroom boasts a resort-like feel with a separate sitting room and master baths featuring PYR custom-designed cabinetry and modern twin basins.

Currently, a limited number of residences remain for sale within the building, including Jade Signature’s “The Collection,” a compilation of two-story Sky Villas and a two-story penthouse, ranging from $11.9 million to $29.5 million. Next month the two-story penthouse will be revealed which offers all of these world-class features as well as a private pool, gym and 360-degree views.

The Tampa EDITION Launches Sales Center At Water Street Tampa

The Residences at The Tampa EDITION have recently launched sales for the city’s first five-star hotel-brand inside Water Street Tampa. The project was developed by Tampa-based firm Strategic Property Partners. The new sales gallery opening will allow buyers to view residences’ interiors and layouts first-hand for the 37 residences featured in the building. The Tampa EDITION will be the third EDITION Residences offered around the World. 

"We are thrilled to introduce this unmatched residential offering to Tampa,” said Bob Glaser, CEO and President of Smith & Associates, the brokerage responsible for residential sales at The Tampa EDITION. “Serviced by the world-renowned EDITION brand and providing immediate access to the best shopping, dining and cultural institutions the city has to offer, The Residences at The Tampa EDITION are unlike any other product in the history of Tampa. It’s gratifying to see such an incredible response from the market, as well as the enthusiasm from our buyers who recognize how special these homes are.” 

The Tampa EDITION features luxury condos by world-renowned architecture firm Morris Adjmi Architects. Interiors are inspired by AD 100 design firm Roman and Williams. Residences will offer indoor-outdoor living with expansive floor-to-ceiling windows and sliding glass doors leading to wraparound terraces. Residences will also have access to private amenities and residential services programmed by The EDITION. Amenities include a residents-only fitness center, social kitchen and lounge, private residential lobby access, private residents’ elevators and a residential Lifestyle Manager. Residents will also be able to enjoy EDITION Hotel benefits including a rooftop terrace, pool, and priority access to reservations at the restaurants. Residences will begin on the 10th floor situated above the 172-key EDITION Hotel. The building will have views of Hillsborough Bay and Downtown Tampa. 

The Tampa EDITION is located in the neighborhood connecting Tampa’s central business district with its waterfront. Construction is well underway and the first contracts for The Residences are already being signed. Pricing for available residences starts at $2 million. Smith & Associates will be the exclusive sales agent representing The Residences at the Tampa EDITION. 

East End Capital Receives Approval For Kobi Karp-Designed Co-Living Project, FOYER Wynwood

East End Capital, led by Jonathan Yormak, received approval from Miami’s Planning & Zoning Department for FOYER Wynwood on December 1. FOYER Wynwood is a co-living, mixed-use project at 2400 North Miami Ave. which is now pending a construction permit and demolition permit for remaining structures on the site. FOYER Wynwood is designed by Kobi Karp Architecture & Design and when complete will feature 375,000 SF of total development splits between 236 apartment units, 12,528 square feet of retail, 7,497 square feet of restaurant space and 400 parking spaces.

FOYER Wynwood will feature affordable co-living and micro-unit options in the apartment portion, together with co-workspaces and other amenities. In conjunction with the development, East End has launched the new “FOYER” brand to operate and manage this project as well as all the other co-living apartment projects in its pipeline.

All FOYER projects will include high ratios of furnished micro-units and co-living bedrooms with ensuite bathrooms, together with traditional studio, one- and two-bedroom units. Monthly rents for co-living bedrooms at FOYER Wynwood, which include the furnishings, electricity, common area cleaning, and WiFi, are expected to start around $1,500 per month.

FOYER Wynwood will also offer an abundance of shared amenity space, including a gym focused on functional training, a juice and coffee bar, an expansive pool deck, a chef’s kitchen and entertainment space, collaborative co-working and art studio areas, and state-of-the-art podcast and green-screen studios.

FOYER Wynwood will continue the renaissance occurring along North Miami Avenue, and is located near notable attractions such as Veza Sur Brewery, The Wynwood Arcade, Oasis, The Salty, and the planned Arlo Hotel. Construction is expected to commence in early 2021.

Urbanica Closes on Two New Lots In Edgewater For Hotel Development Project

Urbanica has recently acquired two new properties located in Edgewater as part of a land assembly that they started two years ago. The two purchased properties are next to each other and located at 237 NE 32 ST and 229 NE 32 ST, the closing price was $1.57M and $1.7M respectively. The transaction was overseen by Stefano Santoro of Current Real Estate. Urbanica now owns four lots for less than $10M in the same area, as they are planning to develop a full-service hotel featuring 12 stories and 200 rooms. The hotel will also include two floors dedicated to parking with 150 spaces, a Japanese Restaurant with 4,000 SF, 7,000 SF dedicated to event space with a banquette kitchen, and different amenities including a rooftop pool, gym, lobby and a game room on the ground floor.

The project is estimated to break ground in the second quarter of 2021, and the grand opening is planned to occur by the end of 2022. Urbanica started as a development company that grew its operations into real estate investment management, vertically integrating its company structure. Last summer, they also bought a site for $38M in Miami Beach. Urbanica currently owns multiple properties in Buenos Aires and the Miami area, including Urbanica The Meridian Hotel, Urbanica Euclid Hotel and Urbanica 5th, all of them located in Miami Beach.

By Eduardo Cohen

Ten30 South Beach Hosts Socially Distant Party To Celebrate Top Off

Shoma Group officially topped off construction at Ten30 South Beach, a luxury boutique condominium scheduled to open in 2021. The developer teamed up with the project’s exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. The topping off ceremony included real estate brokers, VIPs, community leaders and partners in the project invited to a socially distanced cocktail party with music and hors d’oeuvres. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be one step closer to completion. Seeing Ten30 begin to take shape is a stunning moment for our team as it underscores the continued progress as we bring this compelling project to life,” said Masoud Shojaee, President and CEO of Shoma Group. “We look forward to delivering Ten30 South Beach and welcoming our residents in the new year.”

Ten30 is a four-story building that features 43 residences built in a mid-century modern design. Residences range from studios up to two-bedroom units. Amenities will include a 6,000 sq.ft. rooftop deck, a rosé-colored pool, outdoor kitchen area, BBQ stations and an extensive gym. 

“Ten30’s contemporary residences offer buyers a truly refined and elevated living experience with thoughtfully designed layouts in the heart of South Beach,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We’ve continued to see a strong interest from prospective buyers locally, internationally and particularly from the Northeast, and we look forward to continuing our forward momentum.” 

1030 15th Street is located just minutes away from Lincoln Road, Sunset Harbor and Flamingo Park. The project is a unique luxury retreat compared to the high-rise condos surrounding South Beach.

CocoWalk Launches Phased Reopening Just In Time For The Holiday Shopping Season

The highly anticipated phased reopening of CocoWalk in Coconut Grove has officially commenced with the 2020 Holiday shopping season in full swing. Federal Realty Investment Trust, the majority ownership group behind the development, with partners The Comras Company and Grass River Property are excited to announce the lifestyle center has slated new innovative dining experiences and boutiques ready to open for the Holiday season. New openings include: Planta Queen, Free People Movement, Edite Mode, Europann, Mr. 01 Extraordinary Pizza, Sportive, Edward Beiner Eyewear and The School of Rock.  

“Five years ago, we set out to re-energize CocoWalk by attracting a tenant mix better aligned with the community’s needs and interests while creating an authentic destination that would position CocoWalk at the forefront of Miami’s retail evolution,” said Stuart Biel, of Federal Realty Investment Trust. “We look forward to bringing the community together through exceptional experiences and refreshed concepts that are unique to CocoWalk and enjoyed by Miami locals and visitors alike.”

Michael Comras, CEO and President of The Comras Company and board member of the Coconut Grove Business Improvement District (BID) said: “By reintroducing CocoWalk with the types of brands and concepts that the neighborhood identifies with while giving visitors new reasons to rediscover Coconut Grove, we’ve created a destination that suits the daily desires of the area’s residents, office tenants, and locals and ensures CocoWalk reclaims its spot as the number one shopping, dining, and entertainment location in Miami.”  

CocoWalk is four-stories tall and 150,000 sq.ft. of prime retail, dining and entertainment space. The property’s east end also includes Class A office space. Retail lease is managed by Federal Realty Investment Trust and The Comras Company, office lease is managed by Blanca Commercial Real Estate. The phased reopening of CocoWalk is just in time for the Holiday shopping season rush and festivities.

AMS Hospitality Led By Allen Morris Company And Stormont Hospitality Group Partners With Black Salmon To Launch $300 Million Joint Venture

AMS Hospitality, a joint venture between The Allen Morris Company and the Atlanta-based Stormont Hospitality Group, has teamed up with the Miami-based Black Salmon Capital to launch a $300 million initiative to acquire hospitality assets across the United States within the next 18 months.

In December the JV closed on its first acquisition, The Pelham Hotel, a 65-key boutique hotel in the heart of New Orleans. The Pelham Hotel is designated a historic landmark and ideally set adjacent to the vaunted French Quarter, within the city’s Central Business District. The property will undergo a complete, multi-million dollar renovation of the ground-floor lobby, public areas, and guest rooms in order to modernize its design and enhance the guest experience. New Orleans-based HRI Properties has been selected to provide property management services for the hotel

“The capability of this partnership to acquire and transform a hospitality asset is compelling,” said W. Allen Morris, Chairman & CEO of The Allen Morris Company. “This initial acquisition of The Pelham is an ideal of example of how we envision leveraging all facets of our varied strengths.”

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. The JV will seek hotel properties that have undergone a price reduction from pre-pandemic values.

AMS Hospitality was formed earlier this year, joining The Allen Morris Company, one of the largest, diversified real estate firms in the southeast and Stormont Hospitality, a highly acclaimed hotel developer and asset manager.

Black Salmon Capital has acquired nearly $500 million of prime office buildings and senior housing assets across the United States, including US Bank Center in Phoenix, Arizona. It is a strategic partner of TSG Group, a developer of multifamily and offices. Black Salmon Capital’s investment strategy focuses on acquiring stabilized assets, in addition to value-add opportunities, in high growth markets with an educated workforce, a robust technology industry, and strong market fundamentals.

“We are delighted to mark Black Salmon’s foray into the hospitality industry with this deal,” said Jorge Escobar, CEO of Black Salmon. “Through our partnership with AMS, we will further our reach into the hospitality sector and generate new opportunities for our investors.”

“We are truly pleased to have partnered with a group of such consummate professionals across these various disciplines,” concludes Jim Stormont, co-founder of Stormont Hospitality Group, and President of AMS Hospitality. “We look forward to expanding our relationships and our portfolio within this sector while creating landmark assets.”

PMG Reveals MKDA-Designed Society Wynwood After Acquiring Final Piece of Assemblage For $11.5 Million

Property Markets Group (PMG) and Greybrook Realty Partners have submitted their plans for Society Wynwood for approval by the Wynwood Design Review Committee after acquiring the final piece needed for their 1.93 acre assemblage. The JV between PMG and Greybrook acquired 2407 NW 2nd Ave. for $11.5 million from a JV between RedSky Capital and JZ Capital Partners. The PMG and Greybrook JV acquired 1.6-acres at 2421-2455 NW 2nd Ave. in August 2019 for $46 million from the Doris D. Friedopfer Trust. Society Wynwood is part of PMG’s social community initiatives and when complete will span 522,008 square feet.

Society Wynwood will include 326 residential units, 41,258 square feet of retail space, 211 parking spaces and a 3,980 square feet underground lounge. The unit breakdown includes 96 studios spanning 410 square feet, 30 one-bedroom units spanning 654 square feet, 72 two-bedroom units spanning 780 square feet, 114 three-bedroom units spanning 1,190 square feet, and 6 four-bedroom units spanning 1,370 square feet. The building is designed by MKDA and features an interior courtyard, rooftop bar and restaurant, rooftop pool and spa deck with an outdoor theater, yoga area and BBQ area. The project will also feature murals on the side painted by Alexandre Farto, paying homage to Wynwood’s street art culture. Additionally, PMG will contribute to the Wynwood Public Benefit Trust Fund in exchange for a parking reduction of 192 parking spaces. The transit oriented project already benefited from a 30% parking reduction due to proximity to public transportation.

Scott Sherman’s Tricera Capital has a deal to acquire the commercial spaces upon completion of the project. PMG plans to break ground on Society Wynwood project in early 2021.