Master Brokers Forum Listing: Check Out This South Beach Corner Unit In South Pointe Tower Asking $2.75 Million

Master Brokers Forum member Alexandra Peters presents this exceptional corner unit at South Pointe Towers, in the exclusive South of Fifth neighborhood. Watch the cruise ships as they glide through Government Cut from every room in this completely gut-renovated 04-line with wrap-around terrace and +/- 2,000 square feet, representing the largest layout in the building. Enter via double doors into a spacious living area with views reminiscent of a private island. Professionally designed and built out with mat marble floors, solid walnut panels, quartz countertops, and Thermador appliances, including an induction stove top. New ducts, linear vents and impact windows throughout. Jaw-dropping luminous primary bathroom with water views from your bathtub. Recently updated amenities include two pools, tennis courts, and fitness center.

South Pointe Tower 400 South Pointe Dr. Unit 404, Miami Beach is currently listed for $2,750,000 with Alexandra Peters of ONE Sotheby’s International Realty, who can be reached at 786-282-5290 and/or alexandrarealtor@gmail.com.

The Master Brokers Forum is a local network comprised of South Florida's elite real estate professionals. Learn more at www.MasterBrokersForum.com.

Thomas P. Murphy, Jr. and the Murphy Family Receive Prestigious ULI Lifetime Achievement Award

In recognition for their decades of work building transformative, large-scale projects that have helped reshape the South Florida skyline, The Urban Land Institute Southeast Florida/Caribbean has presented Thomas P. Murphy, Jr. and the Murphy Family with the prestigious 2022 Lifetime Achievement Award.

The Lifetime Achievement Award honors the top leaders and visionaries whose lifetime of work has significantly shaped communities and changed the industry. The award ceremony will take place at ULI's annual Vision Awards, the organization’s signature event, on September 15th at the JW Marriot Marquis Hotel in Downtown Miami with over 700 confirmed real estate industry leaders in attendance.

Previous Lifetime Achievement Award recipients include: Craig Robins, Bernardo Fort Brescia & Laurinda Spear, Ricardo Glas & Luis Pulenta, Stephen Owens, The Legacy of Tony Goldman, The Whitman Family, The Graham Family, Armando Codina, and Jorge Perez among others.

“On behalf of the local District Council’s leadership, we are thrilled to present the 2022 Lifetime Achievement Award to The Murphy Family. The family’s work embodies our organization’s mission to shape the future of the built environment for transformative impact in communities,” Julie Medley, Executive Director, ULI SE Florida/Caribbean.

Award-winning Coastal Construction Group and the Murphy Family have been building projects throughout Florida for more than five decades making a profound impact on both the landscape and local economy, with a body of professional and civic work that has created thousands of jobs and opportunities for advancement for many in the land use industry.

Among the company’s distinguished portfolio are more than 60 hotels and resorts in Florida, including the Four Seasons Hotel and Residences at the Surf Club; St. Regis Resort & Residences Bal Harbor; Ritz Carlton Hotel South Beach; Faena Hotel and Residences; 1450 Brickell; Camillus House; Porsche Design Tower; Fendi Chateau; Oceana Condos; Residences by Armani/Casa; Aston Martin Residences; and The Plaza Coral Gables. In addition, the Company was the primary builder for Ocean Reef Club, Deering Bay Club, Miami Design District, Miami World Center and Water Street Tampa.

Coastal has built more than 50 million square feet of vertical projects spanning hospitality (62 hotels), all types of multi-family (over 18,000 units), education (over 50 schools, public and private), commercial and mixed-use projects. Today, Coastal has more than $3.5 billion in current work, and a 3‐year pipeline in excess of $12 billion with operations in Miami, Palm Beach, Naples, Orlando, Tampa, and the Florida Keys.

“My family and I are extremely proud to receive this recognition which would not have been made possible without the hard work, dedication and support of our entire team at Coastal Construction Group. On behalf of all us at Coastal Construction Group, I want to thank ULI for this tremendous honor,” said Thomas P. Murphy, Jr. Chairman and CEO Coastal Construction Group.

Murphy, Jr, began his career while attending the University of Miami, becoming the youngest person in Florida’s history to earn his contractor’s license at the age of 19. Soon thereafter, he dropped out of school and started his own company. Eventually, growing Seaboard Construction to more than 1,500 employees and before selling it to Turner Construction Company, the largest contractor in the U.S.

He later founded Coastal in 1989, and today, 54 years since his first project, the company has become one of the largest general contractors in Florida.

Today, his son’s Tom C. Murphy and Sean Murphy serve as Co‐Presidents, Patrick Erin Murphy, Executive Vice President and Mike Murphy, Vice President of QA/QC and there are 10 family members active in the company and hundreds of others who may not share the same surname, but share the same sense of pride and unabashed desire to build quality projects.

The Allen Morris Company, Xenel International and Principal Real Estate Investors Close On $57.2 Million Construction Loan For Osceola County Multifamily Development

The Allen Morris Company, Xenel International U.S.A. and Principal Real Estate Investors have closed on a $57.2 million construction loan for The Maxwell at Xentury City, a 311-unit multifamily development located in Osceola County. The loan is being provided by Regions Bank. The Maxwell at Xentury City broke ground in September and has a completion date set for the second quarter of 2024. The General Contractor for the project is Deangelis Diamond.

It will be the first residential phase of a larger 200-acre mixed-use development in Xentury City that will offer live, work, play offerings like first-class dining, entertainment, and now, a residential offering.

The 293,000 square feet community will contain five garden-style buildings with a total of 311 residential units and features world-class amenities throughout. The project site is adjacent to the Gaylord Palms Resort and Convention Center.

“We are very pleased to expand our relationship with Regions Bank for the construction loan of The Maxwell – Regions was steadfast throughout the process and provided a strong execution for the partnership,” said Spencer Morris, President of the Allen Morris Company.

“We are proud to be the Allen Morris Company’s lending partner to start construction on a project that will transform the area into a thriving multifamily destination,” adds Mercedes Montalvo, Senior Vice President, of Regions Bank.

“From our early conversations with Allen Morris, Principal Real Estate Investors gained a lot of confidence in being culturally aligned along with Allen Morris’ ability to execute on The Maxwell development plan. We have been watching this area of Orlando evolve and are excited to partner with the team they’ve put together as well as the opportunity to extend our relationship with Regions. Principal believes in the strong fundamentals within this market and looks forward to delivering a first-class multi-family community.” adds Rob Klinkner, Managing Director for Principal Real Estate Investors.

Dwell Design Studio, an award-winning architecture, planning and interior design firm, and Shim Studios as interior designer will spearhead the project.

The Maxwell at Xentury City is close to all the theme parks including Disney World and Universal Studios and has developed a major transportation network to access the site. The site is also 30 minutes from Downtown Orlando and 20 minutes from Orlando International Airport.

Miami Condo Developer Changing The Game

Miami is a mecca for global consumers seeking year-round sunshine, nightlife, and culture, framed by endless sophistication. From stunning scenery and pristine beaches, the Magic City is a feast for the senses.

While developers and hospitality visionaries are playing a prominent role making Miami the most photogenic and desirable city to live, work and play, an evolutionary approach to condo ownership is changing the real estate game, led by Harvey Hernandez, founder and CEO of Miami’s Newgard Development Group. Hernandez is betting on next-generation condos and his latest, LOFTY Brickell, delivers fully finished and furnished turn-key residences purposefully designed and licensed to be shared in the heart of Brickell, along the riverfront. 

Hernandez is known for creating signature towers with contemporary designs and a curated lifestyle in unbeatable locations – from Miami to Austin. LOFTY - scheduled to break ground later this year - is set to elevate city living to an art form, unlike anything Miami has ever experienced. 

“We recognize we’re in a state of tremendous transition, and increasing numbers of people are discovering they can live and work from anywhere,” says Hernandez, who has spent more than 20 years revitalizing high-end residential markets and developing innovative properties. 

With this increased demand, Hernandez is making strides with concepts like Natiivo Austin and Natiivo Miami. Both condominiums, which debuted four years ago, are the first towers created exclusively for flexible ownership and home-sharing – and set the precedent for developers to monetize units in a unique way. It is no surprise the two condominiums sold out completely before breaking ground, attracting buyers with its then-innovative concept. 

Today, Nativvo is accessible via all homestay platforms offering bespoke amenities, 24/7 services, and access to a proprietary app for owners to seamlessly manage personal use and third-party bookings. National demand for short-term rentals continue to boom, spurred by the freedom to work remotely, allowing Newgard to have dreamt up a successful concept before its time.

Now, with the addition of LOFTY to his portfolio, Hernandez is becoming one of the most talked-about developers, known for tapping coveted relationships with bold-faced names like Paulo Bacchi, CEO of Artefacto, for a first-ever branded PH collection.

He also partnered with internationally renowned multidisciplinary artist Carlos Betancourt to offer the first-ever NFT art collection designed for condo owners. 

“This significant investment in next-generation art aligns with our forward-thinking vision for the future of home ownership,” says Hernandez. “Whether our owners are already NFT collectors or new to the space, this first-of-its-kind offering will create memorable shared experiences for our residents while delivering added value to our buyer’s portfolios.”  

With a name synonymous with luxury real estate and decades of experience selling Miami, it is no surprise Cervera Real Estate is the exclusive sales and marketing agent for Nativvo and LOFTY. “It is truly an honor to partner with Harvey and help bring his vision to life,” says Alicia Cervera, managing partner. “We are excited to see the long-term impact of these game-changing towers.”

For more information about the property, please visit: https://www.loftybrickell.miami/

Penthouse At The Herzog & de Meuron-Designed Jade Signature Sells For $15 Million In Sunny Isles Beach

A penthouse at the iconic Herzog & de Meuron-designed Jade Signature in Sunny Isles Beach has sold for $15 million. The Carroll Group represented both sides of the transaction for PH5503 with Chad Carroll and Matthew Dugow on the seller's side and Sheerelle Toledano on the buyer's side. Per public record, the buyer is EIN OD MELVADO TRUSTEE SI 55 LLC, while the seller is GABIUS MIAMI PROPERTIES LLC.

PH5503 is located atop the 55th floor spanning 9,183 SF of flow-through interior space, offering unobstructed 360-degree direct ocean, Intracoastal and city views. The residence offers 6 bedrooms, 7.5 bathrooms, and a 5,242 SF signature wraparound balcony. The penthouse also features multiple appointed sitting and family areas, master office, study, library, playroom, breakfast + bar area, private gym, private pool & service quarters, making for a truly and distinctly personal refuge in the sky.

This is The Carroll Group's second recent significant sale in the building. In March, Chad Carroll sold a penthouse for a record breaking $23.5 million to billionaire entrepreneur Adam Weitsman.

Is The Watch Market in a Bubble? Will it Burst Anytime Soon?

Article by Thierry Richard, Watch Expert

Something in the watch market has changed. Many say that this change is due to a “bubble” generating a surprising increase in price. The price of luxury items, more specifically pre-owned watches, has skyrocketed in the past 20 months leaving all buyers perplex on what is going on. But can it really be said that this market is in a bubble? 

Let start by saying that a bubble is generally characterized by an unjustified or rather irrational increase in prices fueled by scarcity, speculation and greed. Of course, this is a sensitive topic as it creates strong feelings, as value is so often subjective. That said, those who are participating in a certain way whether from passion, profit or both will always have something to say about if a bubble is forming or not and when it might burst.

Like the real estate and stock market, luxury goods such as watches can have correction and often reflect the sentiment of the market but on smaller scale. Fear of a recession, a global event such as war, inflation and supply chain distortion can all have a consequence on the watch market. 

Because I am a watch guy, we will discuss how a bubble could transform the watch industry and when it might burst and why. 

The Recipe of a Bubble

First, let me walk you through how a bubble is formed. 

You will recognize a bubble by its’ five phases. First, we witness a Dwindling Availability when you see inventory and availability of a specific item shrinking or gone altogether. Then comes The Boom Phase, when price increases and gathers momentum as more participants enter the market. The media then takes over and the fear of missing out on what could be a once in a lifetime opportunity spurs more speculation from an increasing number of buyers. Then derives The Euphoria phase, when watch buyers throw both logic and caution out of the window. Prices are out of control. New valuation metrics are created to justify the price increase, the phenomenon is all over social media and buyers believe no matter how high prices go, there will be always other willing to pay more. Slowly comes The Price Top Out, when prices reach their peak and sellers start dumping. Profits narrow as prices fall. But this irrational bubble can last longer than we imagine as emotions are involved. Finally, The Burst occurs, and the market falls apart. Panic sets in for the speculators and they liquidate at any price flooding the market with merchandise. 

What happened?

Before we jump the gun, let’s back track and see what happened during the past 24 months and where we stand today. 

During the pandemic, as the world stood still, money was printed and sent away, some people accumulated more disposable income and money floated into the real estate, stock, crypto and watch market boosting the consumer confidence and creating more millionaire than ever. The investor who didn’t care about luxury watches before suddenly saw an opportunity to make money. Flippers entered the game; popstars wrote song about their timepieces and social media became the vehicle of choice to share this unique opportunity.

At the same time, brands chose to tighten their inventory production on purpose or not, creating a perfect recipe for scarcity. Therefore, with close to no watches in store available for purchase or with 2-6 years long waiting list, the boom has been driven mostly by online platforms. With players like Watchfinder or Watchbox and Chrono24 which remain the world’s leading online marketplace for luxury watches with over $2.4 billion in transactions in 2020. This represents almost $1 billion increase compared to 2019. 

So, thanks to internet and social media, the second-hand luxury watch market has become not only acceptable but now, trending and cool. Clients have larger access to information and watch brands can no longer ignore the phenomenon. The pre-owned watch market is an opportunity to influence the long-term value of products, increase brand equity and most importantly, to recruit new customers. Some brands are taking initiative such as H.Moser & Cie and FP Journe with tailored Certified Pre-Owned offers, or more recently Zenith. For Julien Tornare, CEO of Zenith the brand’s Zenith icons program is the opportunity to “provide, via a trusted channel, a supply of second or third-hand Zenith watches that are authenticated, checked and maintained by the brand, so that we are sure that our end-users are getting the quality we want, and they deserve”.  That said, pre-owned watches from the big four such Rolex, Audemars Piguet, Patek Philippe, Richard Mille and even some Hublot were selling 5X on the secondary market for all the reasons above. 

Will the Bubble burst?

What you see in today’s watch market is a balancing act between inflation and customer confidence. Two opposites, both high. Confident consumers spending money is the key. However, if inflation continues to stay high and shows no signs of falling soon, choosing between wants and needs becomes a bit easier. After a while, the cost of living won’t leave room for even a “sure bet” on a watch. 

Subsequently, with the world opening again, the opportunistic trader and flippers who over-leveraged themselves now find themselves in a bit of a pickle. They need to get rid of their acquired watches to meet financial obligations and/or to minimize their losses. The result will be lower prices on the gray market and eventually high stock at the official dealers. It’s also worth noting that because of various reasons, watch buyers are now so frustrated with gray market prices and the unavailability of steel sports watches from Rolex or Audemars Piguet that they have changed their behavior. It’s becoming a matter of “enough is enough,” you could say. Still, it took consumers long enough to reach that point and prices recently dropped -40% on certain pre-owned models. 

However, as we discovered, it can be almost impossible to correctly spot a bubble every time, although there are certain signs of which to be wary.

As I said, consumer confidence is high despite a high inflation rate. And one way to protect yourself against inflation is by buying a luxury timepiece, one with a stable level of demand like a Submariner Rolex. Unlike other assets, watches are goods that in addition to having potential investment value and the possibility of being used. Even the younger generations have come to understand this.

Consequently, despite the uncharacteristic market spike and the potential correction in price, I believe watches are still a good alternative investment. The demand will continue to grow because apart from an object that shows status, or the more refined idea that wearing a mechanical timepiece shows knowledge and appreciation of traditional craftsmanship, watches represent an alternative asset class that is collectible, highly portable, and scarce considering growing market demand and limited production. From a certain point of view, this could protect the timepiece market from a dizzying and rapid fall. Thus, I believe that even though we might be in a bubble, watches are still a promising market, and that We might even see new brands gaining in popularity. Time will tell… 

Electra America and BH Group Reveal Plans for $1 Billion Redevelopment of 80-Acre Southland Mall Site In Cutler Bay

Electra America, a real estate private equity firm focused on value-add and opportunistic investment in the Sun Belt region of the U.S., along with its U.S.-affiliate, American Landmark, and BH Group, a Miami-based private real estate investment and development firm, have revealed preliminary plans for the redevelopment and reinvention of the Southland Mall in Cutler Bay, located approximately 20 miles south of downtown Miami. The 80-acre, $1 billion redevelopment will be one of the largest projects of its kind in the Southeast and will be called “Southplace City Center.” The reinvention of the Southland Mall into “Southplace City Center,” a vibrant, mixed-use transit-oriented community with live-work-play options, promises much-needed relief for a city suffering from a major housing shortage

The new ownership team envisions a “city within a city” for living, working, shopping, and playing that will feature more than 4,000 residential units, over 500,000 square feet of curated retail, and exciting dining and entertaining venues at the existing mall, with an additional 150,000 square feet of prime retail space and outparcels for food and beverage operators. The phased redevelopment project will be a charming, self-contained community with abundant green space, bike and golf cart trails, walking trails, a trolley system, and easy access to public transit – specifically, the soon-to-open Miami-Dade SMART Plan mass transit route adjacent to the property.

The total project, to be completed over a seven-year time frame, is expected to create approximately 2,700 new jobs and generate $44 million in property taxes ad valorem revenue in the first five years ($6.1 million to Cutler Bay), and up to $491 million ($75.2 million to Cutler Bay) over a 20-year period. The developer’s plan is in accordance with the Town’s code and will not be seeking any special approvals.

“We’re delighted to work with the Town of Cutler Bay and its residents to breathe new life into a property that has been underutilized for decades, and in so doing, create thousands of new jobs, as well as help alleviate the housing crunch facing many Miami-Dade residents today,” said Ron Gaither, Chief Development Officer of Electra America. “Southplace City Center will provide a wide range of market-rate housing options, and its location close to major thoroughfares and mass transit, yet away from residential communities, minimizes traffic and facilitates the use of public transportation – two key priorities for this community. We’re looking forward to continuing working with the community to ensure this project reflects the values and character of Cutler Bay.”

“The future of this site is one that our residents deeply care about,” expressed Town of Cutler Bay Mayor Tim Meerbott. “Ensuring that this project aligns with our community’s vision and has a proper mix of use is extremely important to the Town Council and me. The site is ready for change and this project will check so many boxes on our community’s wish list—thousands of jobs, more restaurants, entertainment, and a fresh look, to name a few. We look forward to working with Electra America and BH Group to bring this important project to life, while keeping it consistent with the character of our beautiful Cutler Bay.”

The development team acquired the mall and adjacent parcels totaling 80 acres in May of this year. The site is conveniently bordered by the Florida Turnpike on the east and U.S. 1 on the west, placing it on major commercial crossroads in suburban Miami-Dade County, directly along the new South Corridor Rapid Transit Project, expected to open in late 2024. The corridor will provide a 20-mile mobility connection between Miami’s central business district and the County’s southern-most communities.

Specifically, the developer’s master plan calls for updating the existing 808,766-square-foot mall with cosmetic improvements and the addition of several new high-quality retailers; the phased development of 4,395 new market-rate apartments catering to a full spectrum of household budgets; the addition of several new retail and restaurant concepts, situated around a series of man-made lakes and open spaces; a new specialty grocer, a 150-key hotel, and 60,000 square feet of medical office space; and a terraced community amphitheater/bandshell. The plan also calls for a new vehicular entrance directly off U.S. 1, featuring a welcoming entrance square with a large fountain and extensive green space, along with a pedestrian bridge connecting the community to the new bus rapid transit stop. The entire community will feature bike and golf cart paths, pedestrian walking trails, and trolley stops to minimize the use of cars.

Ground-breaking on the first residential building is expected in mid-2023 and would deliver in approximately 18 months (early 2025), with rents starting at $2,500.

The project design team for Southplace City Center includes economic advisors Florida Economic Advisors, retail consultants CPH, master planner/designer MSA Architects Inc., landscape planner Insite Studio and civil/traffic engineer Kimley Horn.

Renderings via MSA Architects

The Ritz-Carlton Residences, Pompano Beach To Break Ground This Fall After Passing 75% Sold

The developers of The Ritz-Carlton Residences, Pompano Beach, Fortune International Group and Oak Capital, have announced the dual-tower property set to revolutionize legendary living in Pompano Beach has reached over 75% sold and plans to break ground Fall 2022. The Ritz-Carlton Residences, Pompano Beach will set a new standard for full-service, resort-style living in the tri-county area.

Since launching sales in December, the reservation process has had an overwhelming response from buyers. Buyers at The Residences, Pompano Beach hail primarily from South Florida, the East Coast including New York, Chicago and Boston, and Canada. The outstanding sales and marketing success has been led by Harvey Daniels as Director of Sales alongside his on-site sales team.

“We could not have reached this incredible sales milestone without the help of our dedicated sales and marketing teams and our development division who have worked tirelessly to conceptualize a project that will transform luxury living in South Florida,” said Edgardo Defortuna, President and CEO of Fortune International Group. “The Ritz-Carlton Residences, Pompano Beach will offer a transformative lifestyle and incomparable experiences as Pompano Beach continues to flourish. We are thrilled to be part of The Ritz-Carlton's legacy which will forever transform the city.”

The 32-story Beach Tower offers a prime location on the sands of Pompano Beach and the 14-story Marina Tower provides an equally stunning location just across the street. Each tower highlights fully-finished residences with spacious floorplans boasting ocean and intracoastal views, Italian-designed kitchens with top-of-the-line appliances, laundry rooms with full-size washer and dryer, walk-in closets in all primary bedrooms, and service quarters in select residences. Penthouses feature lush garden terraces, a luxurious private pool, a summer kitchen and stunning 360-degree views of the Atlantic Ocean. Remaining inventory within each tower showcases incredible floor plan options as each residence on-property has been thoughtfully designed with resident experience in mind.

“The Ritz-Carlton Residences, Pompano Beach are one of the most highly amenitized properties in South Florida with over 35,000 square feet of expansive indoor and outdoor amenity space across both towers which will provide for a truly unmatched experience for residents,” said Harvey Daniels, Director of Sales. “As South Florida’s best kept secret, there is an increasingly high demand for new, luxury residences in the heart of Pompano Beach. We have experienced tremendous sales success since the property’s inception which is a major testament to the demand for high-quality, luxury living in South Florida.”

Meticulously designed by Revuelta Architecture International with interiors and landscape architecture by world-renowned Piero Lissoni, The Ritz-Carlton Residences, Pompano Beach will offer an expansive array of over 35,000 square feet of curated amenity space. Amenities include a Yacht Club with a private resident marina, an oceanfront Beach Club, sports courts, tropical pool decks, indoor-outdoor social areas, on-premise dining, and much more to further enhance the overall living experience. The property will also include Guest Suites available exclusively for friends and family of residents with access to services and amenities. Homeowners at The Ritz-Carlton Residences, Pompano Beach will receive unwavering commitment to service and Ritz-Carlton benefits without the transient use.

Renderings via DBOX and Berga & Gonzalez

For more information about The Ritz-Carlton Residences, Pompano Beach, private showings or purchasing/ leasing information please fill out the form below:

Rosso Development Celebrates The Grand Opening of The Standard Residences, Midtown Miami Sales Gallery

Developer Carlos Rosso and Standard International Executive Chairman Amar Lalvani hosted a cocktail event at The Standard Residences to celebrate the brand-new sales gallery in Midtown, Miami and the start of contract conversions. Attendees included future resident and NBA star Hassan Whiteside, Douglas Elliman CEO Jay Parker, Arquitectonica’s Raymond Fort, Urban Robot Associates’ Giancarlo Pietri and PROFILEmiami co-founder Demetri Demascus. True to form, the iconic hospitality brand offered a preview to what will come at the residences, including a multimedia installation from Oolite Foundation artist Jen Clay that will live in the building's shared spaces, a live art display by Juan Rozas, and an experiential poetry machine by O, Miami–a tribute to the project’s engagement with the community.

Being brought to life by hospitality and real estate pioneers Standard International and Rosso Development, in collaboration with Midtown Development, the first-ever The Standard Residences in Midtown Miami are already 70% reserved. The 12-story property blends culture, community and style with the world-class design, amenities and service that The Standard brand is known for–which to date has only been available at its hotels.

Located in the heart of Midtown, Miami’s most walkable neighborhood, the building is centrally positioned between The Design District and Wynwood and will feature 228 pied-à-terre-style residences ranging from studios to two bedrooms. The Standard Residences, Midtown Miami has tapped the industry’s best talent for this debut, including architecture by award-winning Arquitectonica, interiors by Urban Robot, and Naturalficial for landscape design.

In step with other Standard properties, residents will enjoy thoughtfully designed social spaces and amenities spanning 34,000 square feet across five floors including a lushly landscaped rooftop with a 60-foot, resort-style sunset pool, and signature rooftop restaurant and bar reminiscent of the vibe The Standard pioneered from LA to New York to London. Wellness offerings include a state-of-the-art sweat room and fitness center, an infrared sauna, an indoor pickleball court, and yoga and stretch studios. A social floor features a karaoke bar and screening room, while co-working spaces include a private boardroom and zoom rooms. A pet spa rounds out The Standard Residences’ anything but standard amenity package. Residents will also gain access to The Standard’s “Friends with Benefits” program, which earns them preferred pricing at all The Standard hotel properties around the world.

The sales gallery is located at 3252 Buena Vista Blvd. Suite 102, Miami.

Shoma Group Launches Condo Sales At Shoma Bay In North Bay Village

Miami-based developer Shoma Group has launched sales for Shoma Bay, a 21-story, 327-unit condominium on the corner of the 79th Street Causeway and East Treasure Drive in the waterfront community of North Bay Village. The 2.8-acre mixed-use development will be anchored by a 36,068-square-foot Publix and 6,325 square feet of retail space, which includes a rooftop lounge and a Shoma Bazaar food hall. ISG World, led by principal and owner Craig Studnicky, is the exclusive brokerage for the property’s condos. Prices start at $400,000.

“North Bay Village is an extremely desirable location in Miami thanks to its fantastic water views on all sides, rich history and proximity to the beaches, the Design District and Bal Harbour,” said Masoud Shojaee, CEO and Chairman of the Board at Shoma Group. “There is incredible demand to live in South Florida and we are meeting this demand by creating brand new condos and a city-within-a-city community where residents will have top notch dining, shopping and entertainment at their doorstep.”

The condominiums at Shoma Bay will range from 360-square-foot furnished studios to 1,447-square-foot three-bedroom units. They will offer striking water views of Biscayne Bay, modern appliances with sleek finishes, and floor plans designed to maximize efficiency and comfort, as well as close proximity to nearby shopping, dining, and school options. Amenities at Shoma Bay include a resident lounge and bar, spa, fitness center with Technogym equipment, pet spa and kids club, as well as a 6,030-square-foot pool deck with panoramic water views overlooking Biscayne Bay with a pool, cabanas, and summer kitchen. There also will be a library, a 2,600-square-foot coworking business lounge, a sky lounge with a bar and areas for gaming and movie watching, assigned gated parking, electric vehicle charging stations, a designated bike room, and storage spaces. The Shoma Bazaar food hall will also be surrounded by bay views for a stunning dining setting.

“Miami is seeing an incredible demand for communities offering new, highly amenitized, and high-quality condos with views of the Biscayne Bay and Atlantic Ocean,” said Studnicky. “Shoma Group has a proven track record of identifying underappreciated and undervalued submarkets and meeting demand with brand new, thoughtfully designed communities that attract new life and investment. North Bay Village has long been one of Miami’s best kept secrets and we’re already seeing a surge of buyers who are extremely eager to be part of it.”

Shoma Bay was designed by MSA Architects with interiors by renowned designer Adriana Hoyos. Both designers worked with North Bay Village’s historic legacy and art-deco style in mind, paying homage to its popular restaurant and nightlife scenes in the 1950s and 60s. It will rise on the site of what once was Rat Pack crooner Dean Martin’s nightclub in the 1960s and 70s.

"North Bay Village has a rich history that's just one facet of what makes it so unique, and we are thrilled to have a hand in its next chapter,” said Stephanie Shojaee, President of Shoma Group. “We are excited for Shoma Bay to offer not only an exceptional place to live but also an essential amenity with fantastic dining and entertainment experiences for all residents of North Bay Village to enjoy."

Shoma Bay is located at 1850 John F. Kennedy Causeway, North Bay Village, FL 33141. It is slated to break ground early next year and take 18 months to complete.

Renderings via Shoma Bay