ANF Group Marks 40th Anniversary With Strong Pipeline of South Florida Construction Projects

ANF Group, Inc., a full-service construction firm providing construction management, general contracting, development, and design-build services to the South Florida market, is entering its 40th year in business with a strong pipeline that includes several significant residential and healthcare projects, and an optimistic outlook for the South Florida construction industry.

Founded in 1981, the award-winning firm is perhaps best known for building the $80 million Joe DiMaggio Children's Hospital, the $50 million Nova Southeastern University Center for Collaborative Research Facility in Davie, and for its work on approximately 150 different projects for Memorial Healthcare System.  Most recently completed Baptist Health’s new 112,000-square-foot medical facility in Plantation, offering access to a full range of integrated health and wellness services under one roof.

While continuing to maintain its healthcare-sector focus, the firm has also expanded into multifamily, residential, and industrial spaces over the last decade. Projects currently under construction include:

• Canopy Park/500 Alton, a three-acre public park at the gateway to Miami Beach, for developers Terra Group and Crescent Heights

• Broward Sheriff’s Office Training Center, an 80,000-square-foot property with administrative offices, auditorium, Fire Rescue simulation labs, a repel tower, indoor firearm ranges and ‘Memorial Lobby’ dedicated to the victims of Marjory Stoneman Douglas High School shooting

• Vista Verde at Sunrise, a 288-unit apartment community in Sunrise for developer Rilea Group

• Village View, a 100-unit affordable senior apartment community in the Flagler Village section of Fort Lauderdale, for developer Housing Trust Group

• Miramar Medical Office Building II, a 126,000-square-foot facility with an ambulatory surgical center, for Memorial Healthcare System

"Our milestone anniversary is an opportunity for us to reflect on our accomplishments, contributions, and the future and evolution of construction," said Al Fernandez, President of ANF.  "The COVID pandemic presented some clear challenges for the overall construction industry, with the disruption of supply chains and rising costs, but overall, the outlook remains positive.” 

“Florida continues to attract new residents,” he continued, “and this is prompting the demand for new medical facilities outside the normal bounds of hospitals as well as more multifamily housing and industrial/warehouse space. With no signs of slowing down, the construction sector in South Florida is thriving, and ANF Group will remain at the forefront, providing exceptional construction service to South Florida's development community for years to come.”

ANF is a family-owned and operated business led by Alberto Fernandez, Jr., Nelson Fernandez, and Alberto Gil.  The company's commitment to providing exceptional quality and customer service remains at the core of its identity. While the company has grown significantly in the last decade, the principals continue to abide by a strict business practice put in place long ago – the firm will not accept any sizable project unless it can guarantee that one of the three principals can be integrally involved. Based in Davie, Florida, ANF currently has 66 employees. 

ANF’s philanthropy is a big part of who ANF and the Fernandez family are. The firm established the Peaceful Haven Ranch Group Homes in Fort Lauderdale. This facility provides care for residents who suffer from developmental disabilities. The company was one of the founding members of the ANF Group Tour de Broward, an annual fundraiser that helps underwrite programs, services, and facilities for kids and families at Joe DiMaggio Children's Hospital.  In its history, the fundraiser has raised more than $6 million.  In addition to making financial contributions, every employee is encouraged to find worthy opportunities to dedicate time and resources.

About ANF Group:

Since 1981 ANF Group, Inc. has been providing quality preconstruction, construction management, general contracting, development, and design-build services to the South Florida Market.  ANF is an industry leader in commercial, multi-family, and education construction, and has played a vital role in the highly specialized niche of healthcare construction with expertise working on active campuses, laboratories, and research facilities.  With more than 40 years in the construction industry, ANF is a family-owned and operated business whose expertise, professionalism, and meticulous work ethic have made them one of South Florida's most respected construction firms. For more information visit www.anfgroup.com.

This article was produced in partnership with ANF Group.

Life Time Coral Gables Opens 1.2 Million SF Live, Work, Play, Athletic Resort Mixed-Use Multifamily Development

Life Time Coral Gables has officially opened in Coral Gables, bringing a 1.2 million SF luxury athletic resort with elegant co-working and exquisite residences to The City Beautiful. Conceptualized by Life Time, the nation’s premier healthy lifestyle brand, the more than $500 million, 14-story, 1.2 million SF development seamlessly integrates where consumers live, work, play and stay as a first-of-its-kind destination centered around the company’s iconic athletic resort.

Life Time Coral Gables is now welcoming new members to the expansive destination at 237 South Dixie Highway. The development features an 80,000 SF luxury athletic resort, a 25,000 SF Life Time Work and 495 luxuriously appointed residences, including studios, one-, two- and three-bedroom, and penthouse units. Directly adjacent to Shops at Merrick Park, and minutes from downtown Coral Gables and Coconut Grove, the project’s soon-to-open retail component will feature a Trader Joe’s, locally famed Argentinian restaurant, Graziano’s and other offerings.

“I could not be more excited about the completely new concept we’re bringing to The City Beautiful—and North America—as our first combined Life Time Athletic, Life Time Work and Life Time Living destination. Never has a development been designed with such a comprehensive healthy way of life in mind, body and soul—centered around our iconic athletic resort,” says Gino Santia, director, Life Time Coral Gables. “For nearly 30 years, we have operated premier athletic resorts and, for the first time, “second home” has a new meaning as members truly can live, work, exercise and play in this amazing development offering a full healthy way of life experience.”

Life Time’s athletic resort and spa offers more than 70 classes weekly across its dedicated yoga, barre, Pilates, cycle and group exercise studios; more than 400 pieces of cardio and strength-based equipment; small group and 1:1 personal training; a Kids Academy featuring dedicated kids programming and classes; LT Recovery featuring compression, massage and physical and chiropractic therapies; an outdoor, resort-style, rooftop beach club; and, a full-service LifeSpa and fast casual LifeCafe.

The fully integrated, 25,000 SF Life Time Work provides members with elegant workspaces and flexible monthly memberships; lounge, dedicated desk and private offices; conference rooms, quiet rooms, and call booths; Herman Miller furniture, high-end, exquisite finishes throughout; copying, scanning and shredding services, unlimited Wi-Fi and more.

Life Time Living residences range from 436 SF studio units to 1,539 SF, 3-bedroom units. Penthouses are available up to 2,252 SF Resident benefits include a premier, Diamond Life Time athletic resort membership with access to all Life Time destinations throughout the U.S. and Canada, along with preferred Life Time Work access pricing. Grocery store tours, healthy meal planning and delivery from the on-site fast-casual restaurant LifeCafe, and access to a registered dietitian to stock your kitchen also are available.

Life Time Coral Gables is a collaboration between Life Time and Nolan Reynolds International (NRI), a recognized leader in real estate investment, development and hospitality operations.

Additional Life Time locations in Florida include Boca Raton and Tampa, along with locations under development in Palm Beach Gardens (mid-2022) and The Falls in Miami (opening early 2023). Life Time also owns and produces the Miami Marathon.

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Images via Life Time Coral Gables

Five New Wellness And Beauty Retailers Sign Leases At CocoWalk In Coconut Grove

Five new retailers focused on health, wellness, and beauty have signed leases at CocoWalk, the newly reopened lifestyle destination in Coconut Grove. Inspired by residents’ focus on health and wellness, the ownership hand-picked these new retailers to cater to all the lifestyle and beauty needs of area residents and the surrounding communities.

The latest brands to sign retail leases are GlossLab, a hygiene-first, membership based nail studio from New York that is opening its first Miami location and has hospitality entrepreneur David Grutman as one of its investors set to open in summer 2022; Antidote Wellness Labs, a boutique fitness studio that focuses on High Intensity Interval Training, nutrition, and holistic wellness;  chic jewelry brand hailing from Saint-Tropez, Gas Bijoux; Skin Lab by Barba Skin Clinic founded by Harvard-educated dermatologist Dr. Alicia Barba, who has partnered with Skinceuticals; and 3D Brow Studio, specializing in curating perfect eyebrows.

Antidote Wellness Labs will occupy about 2,577 SF on the second floor, accompanied by Barba Skin Clinic with about 2,181 SF and 3D Brow Studio with 1,062 SF. Gas Bijoux will be located on the first floor with 562 SF facing the open-air plaza.

CocoWalk has several more restaurants nearing opening including the highly anticipated Botanico Gin & Cookhouse, which is slated for opening later this summer. Marking the first establishment in Miami to embrace gin’s international resurgence, Botanico will incorporate modern American cuisine with a bar focused on gin cocktails and Mediterranean cuisine led by Mexican Executive Chef and Co-Owner Gerardo B. De Negri.

Sunset Harbour sushi outpost Sushi Garage is also expected open at CocoWalk this fall. Sushi Garage is owned and operated by The Juvia Group and will honor Japanese traditional cuisine utilizing the freshest ingredients in the setting of a contemporary designed space that will make for a unique dining experience.

Following CocoWalk’s multi-million-dollar renovation, the open-air lifestyle center features 150,000 SF of prime retail space in the heart of Coconut Grove, one of Miami’s premier neighborhoods. The property’s ownership group is comprised of Federal Realty Investment Trust (NYSE: FRT), The Comras Company and Grass River Property.

“We’re incredibly excited to welcome these four new retailers and to increase CocoWalk’s health, wellness, and beauty offerings to the community,” said Michael Comras, CEO and President of The Comras Company. “Our goal with the newly renovated CocoWalk is to reinvigorate the lifestyle destination and offer a more curated experience to those who live, work, and play in Coconut Grove. These brands and our upcoming restaurant openings will further enhance the lifestyle, dining and shopping experience the new CocoWalk has to offer.”

The new retailers join an already impressive line-up of curated national, regional, and local concepts already open on property. Restaurants currently serving up delicious eats at CocoWalk include PLANTA Queen, Mister 01Extraordinary Pizza, Sweetgreen, and Salt & Straw. Businesses currently providing unique retail offerings and other services include Bluemercury, FP Movement, Edward Beiner, Europann, Edite Mode, Late Night Gypsy, The Spot Barbershop, and School of Rock. 

Bay Harbor Islands Home Sells For Record $12 Million To Co-Founder of Dreampact Ventures

Real estate records continue to be set all across Miami. The co-founder of venture capital and private equity firm Dreampact Ventures Fued Sadala has purchased 9814 West Broadview Drive in the Bay Harbor Islands for $12 million, a record for a waterfront sale in the neighborhood. The transaction was overseen by Devin Kay of Douglas Elliman, who represented the seller, Orsan Properties and had listed the property for $12.5 million. Orsan Properties is led by Matty Oren and Yaniv Sananes who acquired the property in 2018 for $4 million. The previous record for a waterfront sale on the Bay Harbor Islands was held by 9540 West Broadview Drive which sold for $11.5 million in December 2020.

9814 W Broadview Drive offers 8-bedrooms, 9-bathrooms and spans 7,098 SF. The home was built in 2002 and has been fully-renovated with the finest finishes. Inside the residence offers a chef’s kitchen, dining room, home office, and master-suite with a private lounge and double walk-in closets. Outdoors the residence features a pool, spa and new seawall with a 60’ dock.

Images via Douglas Elliman

For more information about homes in the Bay Harbour Islands, private showings or purchasing/ leasing information please fill out the form below:

The Residences at Uptown Boca Trades For $230 Million In Florida's Largest Multifamily Deal In 2021

The developers of Uptown Boca, Boca Raton’s first new retail and Class-A multifamily project to open in West Boca Raton in over 20 years, have sold The Residences at Uptown Boca to the Atlanta-based multifamily real estate investment, development and management company, Cortland for $230 million. The project was developed by Giles Capital Group, Rosemurgy Properties and Schmier Property Group, in partnership with Wheelock Street Capital. This transaction marks Florida’s largest multifamily deal in 2021 and the highest price per square foot for a garden-style product in Florida, to date. Cushman & Wakefield’s South Florida Multifamily Institutional Properties Group, led by Robert Given, Zach Sackley, Troy Ballard and Neal Victor, brokered the transaction.

“As lifelong Boca Raton residents and local developers, it has been truly special to create such a unique project for our local community. Our team devoted countless hours and meticulous attention to detail in developing what we consider to be one of South Florida’s premier mixed-use communities,” said Alex Rosemurgy, CEO of Rosemurgy Properties. “The Residences at Uptown Boca provides an unparalleled living experience that includes best-in-class amenities and a carefully curated restaurant and retail component just steps from our residents’ front door. Our lease-up success represents the distinct quality of the project in the South Florida market.”

The Residences at Uptown Boca, which opened in 2020, is a seven-building multifamily development managed by Park Partners Residential. Offering 456 Class-A luxury rental apartments, the development features one, two, three and four-bedroom units ranging in size from 718 SF to 1,737 SF. Just steps from The Residences, Uptown Boca’s retail component provides 179,000 SF of shops and fifteen different dining retailers. The developers of the project will remain the owners of the retail component of Uptown Boca.

"We have experienced incredible leasing performance as demand for high quality apartments in south Florida has never been higher. Our leasing team did a phenomenal job in getting the property leased up in record time, and as a result the Uptown Boca ownership team determined that this is the right time to sell," said Rick Giles, president of Giles Capital Group. "We have made every effort to create great experiences for our residential and retail customers, and we wish continued success to the new owners of this unique development."

Located at 9560 Glades Road on the corner of Glades Road and 95th Avenue South, just east of US441/SR7, Uptown Boca is a 38-acre project bringing a curated “shop, dine, live” experience to the area. The development provides residents with walkability to dining, entertainment and living options all within one vibrant local destination.

“The sale of The Residences of Uptown Boca culminates years of planning and execution by our partners Giles Capital, Rosemurgy Properties and Schmier Property Group. We are extremely proud of the community they have developed and the results for our investors,” said Hunter Jones, Principal for Wheelock Street Capital.

The Residences at Uptown Boca offers a number of amenities including a 24-hour fitness center with TRX and an indoor/outdoor CrossFit area, a yoga, spin and stretching room, a 24-hour business center that includes 3 private conference rooms, and 24-hour package pick-up lockers and cold storage. The project also includes a resident theater and entertaining lounge, a kids’ gaming and activity area, rideshare pick-up lounge, 3 dog parks, as well as a soccer field and customized 9,570 SF playground.

For more information about commercial sales or leasing in South Florida please fill out the form below:

TriStar Capital and RAL Development Acquire Final Piece Of Wynwood Assemblage For $13 Million

David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave., financed by a $12.1 million mortgage provided by Comerica Bank. The property currently has a 20,239 SF building that will be demolished to make way for an office campus that includes the adjacent 39,732 SF lot at 2661 NW 5th Ave. which TriStar Capital acquired in 2018 for $18 million. Combined the assemblage totals 70,932 SF and cost $31 million.

The developers are planning to build a modern, technologically advanced office campus targeted at Miami’s fast growing tech sector. The campus will feature two Arquitectonica-designed mixed-use 8-story office towers with roughly 300,000 SF of Class A office space.

Images via TriStar Capital

Two-Story Penthouse At Onda Residences In Bay Harbor Sells For $9.5 Million

A two-story penthouse at Onda, a new boutique luxury condominium planned for Miami’s exclusive Bay Harbor Islands neighborhood, has sold for $9.5 million dollars to a buyer from Louisville, Kentucky. The 8-story development, which is being developed by a joint venture between Ugo Colombo’s CMC Group and Valerio Morabito’s Morabito Properties, enjoys an enviable waterfront location with more than 300’ of bay frontage, a private marina, and sweeping views of Biscayne Bay and the Atlantic Ocean. Nearly 40% of Onda’s 41-units have already been pre-sold since launching sales in March, with a majority of buyers hailing from the U.S. Construction is estimated to begin in Fall 2021, with completion slated for 2023.

The expansive penthouse will include a total of 7,199 SF, encompassing 5,073 SF of interior space with 4 bedrooms, 4.5 bathrooms, an office/bonus room, and a wine cellar. The residence will also include an additional 2,126 SF of outdoor space in the form of 9-foot-deep wrap-around terraces and a private rooftop deck complete with its own pool, garden, and summer kitchen.

Melissa Pardo of Fortune Development Sales represented the developers in the transaction, while Fernando Rodriguez Parilli of Fortune International Realty represented the buyer.

“Our vision for Onda was to create a boutique-style building that felt like you were living in a private waterfront home with all the amenities and conveniences of a luxury condominium,” said Valerio Morabito, CEO of Morabito Properties. “Our residences boast oversized floorplans and an abundance of outdoor space. With its own rooftop pool deck and direct water views overlooking Biscayne Bay and the Atlantic Ocean, the sale of our signature penthouse speaks to its unique caliber in the Miami market.”

The news of the penthouse sale comes as a wave of wealthy domestic buyers migrating to South Florida and diminishing single-family home inventory has sparked renewed interest in Miami’s luxury condo market. According to the Miami Association of Realtors, sales of existing condos jumped a whopping 286% in May year-over-year, from 563 to 2,176, driven primarily by U.S. buyers from tax-burdened states. The latest statistics support that fierce competition and ballooning prices for single-family homes are driving buyers towards condominiums instead.

Located just west of the world-class shopping mecca Bal Harbour Shops, Bay Harbor Islands is one of the most sought-after residential neighborhoods in Miami. The exclusive two-island waterfront enclave is situated roughly two miles north of Miami Beach and neighboring Indian Creek Island, a private island famously known as “Billionaire Bunker” for its roster of celebrity residents. Bay Harbor Islands is renowned for its charming small-town community vibe, proximity to Miami’s poshest retailers and restaurants, and stunning waterfront location and views. The walkable family-oriented village also offers an abundance of parks and green space, along with access to one of the best schools in Miami-Dade County.

“Bay Harbor is like an undiscovered jewel in Miami. It’s a little island community that’s in the middle of everything with fantastic water views and just a few steps away from Bal Harbour Shops,” said Ugo Colombo, Founder of CMC Group. “With Onda, we set out to create an ultra-luxurious intimate building with a handful of units and a handful of residents in one of the nicest waterfront communities in South Florida.”

Onda – the Italian word for “wave” – has been architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors imagined by creative design masterminds Carlo and Paolo Colombo of A++ Human Sustainable Architecture, and lush landscaping by award-winning landscape architect Enzo Enea of Enea Garden Design.

Among Onda’s standout features is over 300’ of bay frontage, a private marina for the exclusive use of residents with boat slips, a water sports launch dock with available kayaks, paddle boards and inflatables, and direct ocean access through Miami’s Haulover inlet.

Building amenities and features will include a rooftop pool deck and lounge area; a state-of-the-art fitness center with Technogym equipment, a yoga studio, a spa with massage treatment rooms, changing facilities, and steam bath and sauna rooms. A private marina for the exclusive use of residents with boat slips, a water sports launch dock with available kayaks, paddle boards and inflatables, and direct ocean access through Miami’s Haulover inlet. Onda will also feature personalized services, advanced security and technology along with a front desk reception, covered valet drop-off area, personal parking spaces, electric vehicle charging stations and bicycle storage, and residential storage space. The building will offer an integrated digital concierge along with readily accessible WiFi throughout all public spaces, and FTTH (fiber to the home) technology for voice, video and high-speed internet.

All residences will feature an office/den, private and semi-private high-speed elevators, floor-to-ceiling impact-resistant sliding glass doors and windows, spacious tiled terraces with private gardens, open floor layouts with up to 9-foot grand ceiling heights, fully-accessorized Snaidero kitchens with top-of-the-line Miele appliances, bathrooms with Italian marble and wood cabinetry, exquisite Italian flooring throughout, energy-efficient air conditioning and heating systems with ultra-quiet technology, and air and water filtration systems.

Onda benefits from the track-record and expertise of Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties, two world-class developers driven by their Italian instincts for quality, style, and craftsmanship. Colombo and Morabito previously partnered in 2016 to lead the development of Beach House 8, a nearby boutique waterfront condo building on Collins Avenue in Miami Beach. Most recently, Colombo and CMC Group delivered Brickell Flatiron, a 64-story luxury tower in Downtown Miami’s Brickell Financial District.

Fortune Development Sales is managing sales and marketing for Onda Residences.

For more information, including preconstruction sales opportunities, please contact Fortune Development Sales at (305) 344-1234 or info@ondaresidences.com and visit the development’s sales gallery at 10301 East Bay Harbor Drive, Bay Harbor Islands, FL 33154.

Learn more at www.ondaresidences.com.

This article was produced as part of a partnership with ONDA Residences.

Ultra-Luxe Condo At One Thousand Museum Sells For $7.2 Million In Cryptocurrency Ethereum

Crypto sales in Miami continue to become more mainstream as the city continues to make itself a Crypto City and emerging tech hub. Unit 2202 at One Thousand Museum by Zaha Hadid Architects has sold for $7.2 million in the cryptocurrency Ethereum, becoming the most expensive crypto currency real estate purchase to date in the City of Miami. It is also second most expensive in Miami-Dade County behind a penthouse at Arte Surfside that sold last month for $22.5 million. Keith Marks and Sonia Toth of The Keith & Sonia Team at Brown Harris Stevens were the exclusive listing agents. Zachary Oppenheim and Madison Roberts of Oppenheim Realty brought the buyer.

The 4 bedroom 5.5 bathroom northeast corner unit spans 4,600 SF. The residence offers far reaching views of Biscayne Bay and Miami Beach and overlooks cultural landmarks including Perez Art Museum Miami (PAMM) and Phillip and Patricia Frost Museum of Science. The residence also features spacious balconies and the finest attention to detail and state of the art appliances and lighting, including Poliform, Gaggenau, SubZero, Dornbracht, Petzgold and Creston.

One Thousand Museum is regarded as the essence of unprecedented fusion of art, architecture, design and location within Downtown Miami. Designed by famed architect Zaha Hadid, the building is home to the highest helipad in the US other than Los Angeles. Celebrity residents include David and Victoria Beckham.

Cryptocurrency has emerged as a viable form of payment for real estate and Miami has been at the cornerstone of crypto becoming mainstream. Miami is quickly becoming a cryptocurrency and blockchain hub led by Mayor Francis Suarez. Arte by Antonio Citterio in Surfside became the first new construction project to accept cryptocurrency for real estate followed by E11EVEN Hotel & Residences. A unit would later sell for a record $22.5 million in cryptocurrency at Arte.

For a background on cryptocurrency and blockchain and its application to real estate check out the PROFILE Insider: The Crypto Revolution Versus The Evolution of Blockchain Part 1.

Images via Brown Harris Stevens

For more information about purchasing real estate using cryptocurrency, private showings or purchasing/ leasing information please fill out the form below:

Emilio And Gloria Estefan Sell Their 1 Star Island Waterfront "Guest Estate" For $35 Million

Famed musician and producer partners Emilio and Gloria Estefan have sold their “guest estate” located at 1 Star Island Drive on the prestigious Star Island, for $35 million. The sprawling residence sits atop 58,332 SF of prime waterfront land. The one-of-a-kind property had been owned by the Estefan’s as their guest home for more than 20 years. Jill Eber of The Jills Zeder Group at Coldwell Banker represented the Estefans and Todd Nordstrom of Compass represented the buyer, an LLC that financed the purchase with a $20.7 million loan from Bank of America.

“This breathtaking estate has been a very special place for our family and friends, and it offers a level of safety, privacy and elegance that is simply unmatched,” said Emilio Estefan.

Prior to the sale the Estefan’s brought in award-winning architect Carlos Ott to conceptualize plans for the next evolution of the estate.

The current estate’s main house is a sprawling, two-story Floridian-style home, features five bedrooms, four full bathrooms and one half bath. The elegant residence boasts a spacious living room with a fireplace, a private dining area, a graceful piano room and a large kitchen with breakfast room. The second-floor master suite features a romantic master bathroom with a cast iron pedestal sunken tub and flaunts a sweeping private veranda that overlooks the backyard.

The property also includes a separate, private three-bedroom, three-bath guesthouse which sits at the front of the property near the gated entrance. The guesthouse features a large center courtyard with covered loggias and seating areas, a living room with soaring 30’ ceilings, a combined kitchen/dining area and a spiral staircase that leads to the family room.

Out back, the estate features 240’ of water-frontage complete with unobstructed views of both Biscayne Bay and downtown Miami. Additional amenities include a private dock with electric boatlift, an expansive pool terrace, a jacuzzi, an outdoor gazebo and 24-hour Star Island security.

Star Island has experienced an extremely hot market over the past several years. Lennar Executive Chairman Stuart Miller kicked off a long list of transactions on the prestigious island when he acquired Thomas Kramer's former 4 and 5 Star Island Drive for $33 million. Miller also developed and sold an ultra-luxury spec home at 22 Star Island has sold for $49.5 million in an off-market deal, followed by Roger and Sloan Barnett acquiring the neighboring 46 Star Island Drive for $39 million from Marc Iacovelli. In June 2020 Shay Kostiner sold his vacant lot at 44 Star Island for $10 million. Prior to their break-up Alex Rodriguez and Jennifer Lopez acquired 13 Star Island Drive for $32.5 million. Billionaire hedge fund magnate Ken Griffin of Citadel Securities has amassed a $95 million Star Island assemblage. In August 2020 Griffin acquired the adjacent double lot at 11 and 12 Star Island Drive in an off-market deal for roughly $37 million. Soon after, Griffin would purchase 13 Star Island for $32.5 million and 10 Star Island for $25 million.

For more information about homes on Star Island, private showings or purchasing/ leasing information please fill out the form below:

Waterfront Coconut Grove Spec Mansion Sells For Record Breaking $65 Million

A waterfront spec mansion which is currently under construction at 3488 Saint Gaudens Road in Coconut Grove has sold for a record $65 million. The sale price includes the cost of completing the home and is the most expensive closed home sale ever in Miami-Dade County. The deed traded for $50 million, but the $65 million sale price includes the cost of completing the home.

The seller was Isaac Perez and the buyer is a Delaware LLC who financed the acquisition with a $20 million mortgage from Maxim Capital Group. Jorge Uribe of ONE Sotheby’s International Realty represented the seller and Oren Alexander of The Alexander Team at Douglas Elliman represented the buyer.

3488 Saint Gaudens Road was designed by Pacheco Martinez & Associates. The estate spans 4.3 acres which Perez acquired for roughly $24.2 million. He purchased the first three lots in the assemblage for $18 million in 2013 and later added a fourth parcel for $6.2 million in 2020.

Coconut Grove has been a hot neighborhood for ultra-luxury real estate deals. Jorge Mas sold his waterfront home known as Casa Bahia at 3085 Munroe Drive for $45.91 million and in June 2021 private equity investor Nathan Leight of Terrapin Partners sold 3500 and 3535 Curtis Lane for $48 million. Related Group’s founder Jorge Pérez recently listed his waterfront home for $33 million.

The record for most expensive home sale in Miami-Dade County was previously held by 3 Indian Creek Island Road which traded for $49.9 million in 2019.

Images via Pacheco-Martinez & Associates