Monaco Yacht Club & Residences Drops Anchor To Celebrate Topping Off On Miami Beach

Monaco Yacht Club & Residences has topped off at 12-stories on Miami Beach after breaking ground February 2020. The milestone was celebrated by developer Optimum Asset Management USA, the exclusive sales broker Fortune Development Sales, and the general contractor Moss Construction. The project is slated for delivery at the end of 2021.

Monaco Yacht Club & Residences is located at 6800 Indian Creek Drive on Miami Beach and is an exclusive enclave of thirty-nine luxurious waterfront residences and a private marina in collaboration with two of the most recognized names in design, Piero Lissoni and Arquitectonica.

“Seeing Monaco Yacht Club & Residences come to life and now in its final dimensions is an especially proud moment,” said Matthew Barry, Managing Director of Optimum Asset Management USA. “The global response to the tower has been nothing short of compelling and a testament to its international appeal.  Now more so than ever before, buyers are recognizing the importance of having the intimacy of a full-service boutique building combined with the exclusivity of being located on one of the last remaining waterfront properties in the area.” 

Residences will be delivered fully-finished, each of the modern unit interiors were meticulously curated with precise attention to detail, inclusive of the refined Italian-made fixtures and finishes, with Arrigoni wide plank wood flooring from Austria.  The design palette of warm whites and rich woods for the lobby and the premier “Resident’s Lounge,” featuring a library and breakfast bar for leisurely waterfront dining designed to evoke a timeless, classic mood reminiscent of a luxurious Côte d’Azur summer resort.

“Luxury buyers from across the globe have been specifically seeking this project out for its boutique, full-service offering, unparalleled Bayfront location, and the rare opportunity to dock one’s boat in their very own backyard,” said Edgardo Defortuna, President and CEO of Fortune International Group, the project’s exclusive broker. “Combining the spectacular style and extraordinary talents of Piero Lissoni and Bernardo Fort-Brescia with an array of first-class services and amenities, Monaco Yacht Club & Residences celebrate the very best Miami Beach has to offer.”

Monaco Yacht Club & Residences will include one to four bedroom residences, ranging in size from 918 to nearly 5,000 square feet. A limited collection of two penthouses will offer expansive living areas, including private terraces with summer kitchens, starting at 2,888 square feet. Residences are primed for indoor/outdoor living and entertaining, the meticulously designed homes will feature expansive wraparound terraces, each with finished floors and ceilings with sweeping views of Biscayne Bay, the Atlantic Ocean and the Miami skyline.

Resort-style amenities include a breathtaking rooftop terrace with panoramic views of the Miami skyline featuring a pool with poolside chaise lounge chairs, Jacuzzi and shaded lounge areas with a grill for entertaining; as well as a state-of-the-art fitness center overlooking Biscayne Bay. Monaco Yacht Club & Residences also features a 12 slip marina available exclusively to residents, as well as a yachting concierge for maintenance needs, yacht charters or sailing, and fishing excursions for the day to the Bahamas, the Florida Keys or to enjoy the Atlantic Ocean.

Residences are priced from $1.1 million with exclusive sales and marketing overseen by Fortune Development Sales.

For more information about Monaco Yacht Club & Residences, private showings or purchasing/ leasing information please fill out the form below:

Bar Invest Group Acquires 358-Unit Pembroke Pines Multifamily For $79.5 Million

Bar Invest Group, led by Herve Barbera, has acquired the 358-unit The Landings at Pembroke Lakes for $79.5 million, roughly $222,000 per unit. The property traded at a reported 4.5% cap rate and was 95% occupied at the time of sale. The seller was Starwood Capital Group who acquired the garden style multifamily property in 2016. The transaction was completed via an Entity Purchase, which involves transferring the LLC which owns the asset and not the deed, which is used in order to avoid paying documentary stamp taxes. The sale was financed with a $52.88 million loan provided by BankUnited NA. The transaction was overseen by Kaya Suarez and Still Hunter with Walker and Dunlop.

The Landings at Pembroke was developed in 1989 and is located on a 26.6 acre site at 10650 Washing St. in Pembroke Pines. The property features seventeen garden-style buildings with units ranging from one to two-bedroom layouts and from 486 square feet to 1,046 square feet. Bar Invest plans to execute a value add strategy and renovate the property by updating the common areas and apartment interiors. Amenities include a fitness center, pool, grill area, tennis and volleyball courts, racquetball, laundry facilities, business center and on-site management.

Vision Properties Acquires The Cypress Financial Center In Fort Lauderdale For $44.24 Million

The Tampa-based Vision Properties has acquired the Cypress Financial Center in Fort Lauderdale for $44.24 million. The seller was a joint venture between Steelbridge Capital, Square2 Capital and Apollo Global Management and the sale was overseen by JLL’s Herman Rodriguez, Ike Ojala and Matthew McCormack. BSPRT CMBS Finance LLC provided $27.62 million in mortgage financing.

The Cypress Financial Center was developed in 1988 and is located on 2.8-acres at 5900 N Andrews Ave. The office building offers 201,305 square feet of leasable office space with 785 parking spaces. Cypress Financial Center was under contract to be sold when the COVID-19 pandemic hit in March 2020 for $45.5 million to the Toronto-based Slate Office, who ultimately walked away. The selling joint venture acquired the building in 2014 for $32.55 million.

WoundTech CEO Selling Bal Harbour Home

Jeffrey Galitz, the CEO & CMO of WoundTech, is selling his charming Bal Harbour home. WoundTech is an innovative telehealth platform that brings the clinic to the patent. The home is perfect for entertainers with a large backyard and accents of an English-style garden. It features 5-bedrooms and 5.5-bathrooms. The first floor features a grand entrance with 18-ft high ceilings, custom home theatre, gym, and chef’s kitchen with breakfast area. The second floor features 4 of the bedrooms including a master bedroom with his and her baths and large closets. The outside includes a sprawling patio with a BBQ, a pool, lounge area and backyard garden. The home is landscaped with tall hedges, palm trees and fountains. 101 Bal Bay Drive is located in Bal Harbour village and is listed for $5.5 million by Allan Kleer & Fabian Garcia-Diaz with ONE Sotheby’s International Realty. 

Tour GameStop Short Seller Gabriel Plotkin of Melvin Capital’s $44 Million North Bay Road Mega-Mansion

Melvin Capital’s Gabriel Plotkin has been in the news quite a bit recently after his hedge fund may have posted a loss in the billions in the stock market shorting GameStop. Plotkin made his first splash when he acquired the Choeff Levy Fischman-designed 6360 North Bay Road and 6342 North Bay Road on Miami Beach in November 2020 for $44 million. He then applied to demolish an 80-year-old home on the 6342 North Bay Road site to build a tennis court for the compound.

The residence at 6360 North Bay Road was designed by Choeff Levy Fischman and completed in 2018. The home offers the ultimate in waterfront living and year-round entertainment. eight-bedroom eight-bath main house, a four-bedroom four-bath guesthouse, and a cabana house. The ultra-luxe modern home was designed to blend the outdoors with inside with floor-to-ceiling glass sliding walls. The mansion is spread over 13,381 square foot with 2,700 square foot of covered outdoor space and a 3,000 square foot rooftop deck which offers sweeping panoramas of Biscayne Bay and sunsets over the water. The backyard features a resort-style mosaic glass pool, built-in spa, detached cabana house, and a summer kitchen. The 27,608 SF lot features a new 60’ pier dock and seawall with 112’ of waterfrontage.

Melvin Capital suffered serious losses after his short position in GameStop was targeted by members of the Reddit community Wall Street Bets. The group of retail traders pooled together to drive up GameStop’s market price and squeeze out short-sellers. Melvin Capital received a $2.75 billion bailout following the trading fallout from Ken Griffin’s Citadel and Steven Cohen’s Point72. Melvin Capital previously had $13 billion under management.

Photos via Felipe Ariano

For more information about 6360 N. Bay Road, private showings or purchasing/ leasing information please fill out the form below:

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The Amalfi Coast Comes To Miami Inside This Chic Italian Abode Owned By The Family Behind La Sirenuse

5600 La Gorce Drive brings a piece of Italy to Miami channeling the lively cliffside village of Positano. The home underwent an extensive 2-year renovation from the owners of the world famous hotel, Le Sirenuse, in the Amalfi coast. The charming home offers the simple pleasures of awe-inspiring elements tastefully curated from the eyes of its Italian owners. The elegance of the living space travels through the small details from the furnishings and light fixtures to the murals on the wall. Each room in the home comes with a unique flair, including the custom copper paneled kitchen and bold living room. Outdoors, find a covered patio and lap pool for basking in the warmth of the sun.  Lushly surrounded by tall hedges providing extreme privacy and dramatic west views of La Gorce Country Club, this home is the embodiment of chic. 5600 La Gorce Drive is listed for $4.3 million by Daniela Bonetti & Darryl Fox with ONE Sotheby’s International Realty.

For more information about 5600 La Gorce Drive, private showings or purchasing information please fill out the form below:

PPG Development Acquires TRYP by Wyndham Miami Bay Harbor Hotel For $30 Million

PPG Development, led by Ari Pearl, has acquired TRYP by Wyndham Miami Bay Harbor Hotel for $30 million, roughly $312,500 per key. The acquisition was financed by a $26 million short-term mortgage provided by Arbor Realty SR. TRYP by Wyndham Miami Bay Harbor Hotel is located in the Bay Harbor Islands at 9540 W Bay Harbor Drive. The waterfront hotel was completed in 2018 and features 96 rooms spread over seven-stories totaling 111,063 square feet. The hotel also features a rooftop pool, bar, ground-floor restaurant, meeting room and fitness center.

The TRYP by Wyndham Miami Bay Harbor Hotel previously faced $25 million foreclosure lawsuit but the case was ultimately dismissed and the mortgage was satisfied.

Tech-Enabled Business Travel Firm 'Mint House' Expands To Downtown Miami

At a time when major operators business travel short-term lease extended stay operators such as Lyric and Stay Alfred are shuttering, Mint House, a tech-enabled hotel company for high-end business travelers, is continuing to rapidly expand despite the COVID-19 pandemic. Mint House recently expanded their Miami operation with the addition of a second location in Downtown Miami, Mint House at Muze at Met.  

Mint House at Muze at Met opened on January 13 after the firm acquired 22 units from previous operator Lyric. The acquisition was driven by a high demand of northeasterners looking to escape the cold and corporate travelers across the U.S. having the ability to work remotely. The brand’s first Miami location, Mint House at Caoba posted solid numbers for December 2020 with 91% occupancy and so far has seen 85% occupancy during January 2021. 

Those staying at Mint House at Muze at Met are greeted with the brand’s signature self-sufficient living elements like contactless check in/check out, keyless entry, customized groceries waiting in the refrigerator upon arrival, laundry in unit, and functional at-home working spaces.

Muze at Met was developed by ZOM Living in 2019 and is located at 340 SE 3rd St. Miami.

"Bombastic" Singer Shaggy Buys CocoPlum Home In Miami For $2.15 Million

Orville Richard Burrell, or better known as “Shaggy,” has purchased a $2.15M Miami home. The home is located in Coral Gables within the exclusive enclave community of Cocoplum. Shaggy is the two-time Grammy Winner musician behind “It Wasn’t Me,” “Bombastic” and more.

Shaggy’s new home features 5-bedrooms, 4.5-bathrooms, a 2-car garage, an open air courtyard and formal living room with expansive windows and vaulted ceilings. The master bedroom offers a walk-in closet, luxurious bath and private terrace overlooking the pool. The chefs kitchen is a perfect size for entertaining. The outside features an enchanting pool, landscaped backyard, covered terraces and a covered bar with built in BBQ.

8010 Los Pinos Blvd., Coral Gables was listed by Hilda Jacobson and David Pulley of Douglas Elliman’s Sports & Entertainment Division. Shaggy was represented by Harry Baxter of Fortune International Realty. 

160 Marina Bay Launches Sales On Fort Lauderdale's Intracoastal Waterway

Gold Krown Investments, LLC has launched 160 Marina Bay, an exclusive five-story condo development on Fort Lauderdale Intracoastal Waterway. 160 Marina Bay is located at 160 Isle of Venice Drive and will offer 16 luxury condominiums with east facing waterfront views. For yachting enthusiasts the development offers for-purchase boat slips allowing residents direct access to the Atlantic Ocean. 160 Marina Bay is designed by FSMY Architects + Planners and RS3 Designs.

“This new venture, 160 Marina Bay, is a perfect destination for an ocean-centric, technology-driven buyer,” said Ronald Krongold, a managing member of Gold Krown Investments, LLC. “The residences are designed in an exclusive setting, with benefits of direct access to the intracoastal and an emphasis on smart-home technology. We have assembled an incredible team to bring this project to life. Demolition of the current site has commenced and we should deliver units in the 1st quarter of 2022.”

Residences at 160 Marina Bay will be delivered move-in ready and are designed with privacy and connectivity in mind. The project will feature four residences per floor with two spacious three bedroom, three bathroom and one half bathroom floor plan options ranging in size from 2,875 square feet to 2,918 square feet of interior living space plus expansive waterfront east-facing terraces with glass railings for entertaining which bring the units to over 3,000 square feet.

Unit features include 10 foot ceilings throughout, energy-efficient and impact-resistant floor-to-ceiling sliding glass doors and windows, direct water views from the living room and master bedroom, and a spacious laundry room with a sink, side-by-side large capacity washer and dryer, and space for additional storage. Chef-inspired kitchens will include Italian cabinetry and high-end appliances by Sub-Zero, Wolf and Miele. Each residence comes with its own private elevator vestibule entry into a foyer, a private storage closet, and two garage parking spaces. All residences are also fit with top-of-the-line smart technology for controlling entry locks, lighting, thermostats and showers, remotely or by voice activation. An in-wall smart home system will unite all smart home devices in one simple-to-use control system with multiple control panels located throughout each unit. Each residence will also be equipped with a digital medical examination kit for facilitating remote examinations with a healthcare professional.

“160 Marina Bay is a very unique project,” said Edgardo DeFortuna, President and CEO of Fortune Development Group. “The privacy of the exclusive building, its state-of-the-art smart home technology, and its location in proximity to Fort Lauderdale beaches, Las Olas and Downtown Fort Lauderdale sets this development apart. With the current surge of new residents in Broward County and the demand for new boutique residences, we believe 160 Marina Bay will be extremely successful and a great addition to Las Olas Isles in Fort Lauderdale.”

Amenities at 160 Marina Bay include a waterfront pool deck overlooking the canal with lounge chairs, cabana and BBQ area for entertaining, private WiFi accessible throughout the property, and electric vehicle charging stations available for purchase. Residents will receive digital notifications of package deliveries to a private, self-service package locker system with refrigeration capability located in the lobby.

Residents will also have the option to purchase one of fourteen private boat slips with deep water access are available for purchase and include electrical and water connections.

Prices start at $2 million with penthouses starting at $2.45 million with sales led by Fortune Development Sales. 160 Marina Bay is expected to be completed in early 2022.

For more information about 160 Marina Bay, private showings or purchasing/ leasing information please fill out the form below: