Aston Martin Residences Receives TCO In Downtown Miami

Aston Martin Residences, a luxury condo tower in the heart of downtown Miami developed by G&G Business Developments with construction overseen by Coastal Construction, has received its Temporary Certificate of Occupancy (TCO) on April 18. Aston Martin Residences spans 1.8 million square feet, towering 821 feet, 70 stories, above the Miami River waterfront. The architect of record for Aston Martin Residences is Revuelta Architecture International, while Bodas Miani Anger (BMA) served as the design architect. Additionally, structural engineering was provided by DeSimone Consulting Engineering.

Comprising 393 units, Aston Martin Residences offers spacious floor plans ranging from one to five bedrooms. The development includes seven penthouses and 38 signature residences, each offering buyers the option to select either a limited edition DBX or a DB11 from Aston Martin’s lineup. The three-story penthouse also features the prestigious final Aston Martin Vulcan as part of its offering.

While the completion of Aston Martin Residences draws near, it promises a lifestyle of comfort and convenience, offering residents access to top-tier amenities, such as a state-of-the-art fitness center, infinity pool, art gallery, two cinemas, and a full-service spa.

"We are grateful to have worked with G&G Business Developments and to have been a part of bringing this iconic and highly anticipated building to the city of Miami," said Thomas P. Murphy, CEO and founder of Coastal Construction. "Coastal is honored to bring another branded residence to life. This building will be a landmark for years to come, and that is something to be proud of."

Pura Vida Becomes The First Outside Hospitality Operator To Open on Miami's Exclusive Fisher Island

Pura Vida, the Miami-based wellness and lifestyle brand, has opened its newest location on Miami’s ultra-exclusive Fisher Island. As the only outside operator on the island, Fisher Island residents and members will no have access to Pura Vida’s health-conscious cuisine. Pura Vida Fisher Island is located within the island’s Racquet Club. Founded in 2012 by husband-wife duo Omer and Jennifer Horev, Pura Vida has meticulously executed a strategy of expansion, exploring locations that resonate within forward-thinking and innovative mixed-use lifestyle destinations.

Members and their families can anticipate Pura Vida’s acclaimed quality-driven menu and its signature Instagrammable aesthetic complete with lush greenery, inviting floral accents, light wooden finishes, and the brand's iconic blue umbrellas, all designed to create a warm and welcoming atmosphere.

“The opening of our Fisher Island location not only highlights our dynamic expansion approach but also underscores our pioneering role as the island's only outside operator. It serves as a testament to our unwavering commitment to bringing high-quality, health-conscious cuisine within reach of diverse communities. Fisher Island represents the pinnacle of luxury living, and we're thrilled to bring the Pura Vida way of life to this exclusive community’s daily routine." Said Omer Horev, Co-Founder & Chief Executive Officer of Horev Hospitality.

The menu will bring its beloved range of offerings that have become synonymous with the Pura Vida experience. From the famed All-Day Breakfast selections, including avocado toasts, pasture-raised egg sandwiches, fresh bagels, and raw organic açaí bowls, to clean chef-driven Salads with high-quality proteins, Pura Vida's menu offers something for everyone. Additionally, guests can indulge in sandwiches, Bowls, and gluten-free and vegan Sweet Treats. The beverage selection includes cold-pressed juices and shots, superfood smoothies, kombucha, and artisanal coffees and teas.

Pura Vida's dedication to fostering communities centered around health and wellness extends beyond its menu. It has solidified its place in the wellness community by forging strategic partnerships with organizations and events that share its health-focused vision. Pura Vida remains committed to its core values of making healthy food accessible, offering high-quality products, and transforming neighborhoods into vibrant hubs of health and vitality while creating socially attractive and relaxing environments.

The Fisher Island location joins Pura Vida's expansive portfolio of over 20 South Florida locations, further establishing the brand as a leader in the wellness and lifestyle space.

Event May 21: Royal Retreat at Queen - Exploring Hospitality Real Estate in Miami

Join us for an exclusive hospitality event on May 21 where PROFILEmiami will take over the iconic Art Deco landmark and Miami hot spot, QUEEN. PROFILEmiami has teamed up with QUEEN Miami Beach to bring you an exclusive cocktail and exciting panel discussing hospitality real estate with Miami’s top developers and owners Ronny Finvarb - Finvarb Group, Michael Simkins - E11EVEN Partners / Lion Development, Mathieu Massa - Mr. Hospitality / QUEEN, Alex Witkoff - Witkoff, Robert Rivani - Black Lion Investment Group and moderated by Christian Charre - Berkadia Hotels & Hospitality.

Attendees will sip custom cocktails by E11EVEN Vodka and Bennati Wine plus indulge in bites of modern Japanese cuisine by Queen’s executive chef Mitchell Hess, while taking in QUEEN’s opulent ambiance, followed by a panel discussion. This is not just a networking event; it's an experience.

Part of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series, the event will bring together Miami’s top real estate industry and business professionals, influencers and fitness enthusiasts, for a fun evening with industry leaders.

Date: Tuesday, May 21 from 5 - 8 PM

Location: Queen Miami Beach, 550 Washington Ave., Miami Beach

Panelists:

• Mathieu Massa, Mr. Hospitality / Queen

• Michael Simkins, E11EVEN Partners / Lion Development

• Alex Witkoff, Witkoff

• Robert Rivani, Black Lion Investment Group

• Ronny Finvarb, Finvarb Group

• Christian Charre, Berkadia Hotels & Hospitality (Moderator)

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Thank You To Our Sponsors

Miami’s Largest Office Lease Transaction in 2024 Signed at Waterford Business District

Miami's prestigious Waterford Business District (WBD) continues to solidify its position as a premier corporate destination with the recent signing of a significant lease by global business services company Assurant. The lease, encompassing an impressive 78,000 square feet, marks the largest office transaction in Miami so far this year, further enhancing the district's reputation as a hub for top-tier businesses. Brent Woodruff, Matthew Goodman, and Tyler Wyant from CBRE represented Assurant in this lease transaction.

Situated on 250 acres adjacent to Miami International Airport, the WBD offers unparalleled accessibility to major residential and commercial centers. Boasting over 1.65 million square feet of prime office space across 7 Class A buildings, the district provides tenants with a blend of convenience, amenities, and a thriving business ecosystem.

"At Waterford Business District, we take pride in curating an environment where individuals find genuine enjoyment in their work," remarked Charles Russo, Nuveen's Senior Director and Head of Southeast- Workplace, Retail, and Mixed-Use. "Companies like Assurant are drawn to dynamic hubs like ours because of the exceptional office spaces and thriving business community. Our commitment to innovation and meeting the evolving needs of businesses makes WBD an irresistible destination."

Assurant's decision to relocate to WBD underscores its dedication to providing a workspace tailored to the evolving needs of its Miami-based workforce. The company joins esteemed tenants such as Subway and FedEx, further reinforcing the district's commitment to excellence.

Blanca Commercial Real Estate, the exclusive leasing agent for the WBD portfolio, facilitated the lease, marking one of their largest deals to date. "Our commitment to providing a workplace that blends cutting-edge amenities with convenience resonates with companies seeking a dynamic environment," stated Juan Ruiz, Vice Chairman of Blanca CRE.

Under the joint venture between Nuveen Real Estate and Allianz, managed by PIMCO Prime Real Estate, LLC, WBD has undergone significant transformations, establishing itself as a state-of-the-art corporate campus. Investments in amenities such as shuttle services, fitness centers, and waterfront outdoor areas, coupled with tenant-engaging activities, contribute to the district's vibrant atmosphere. Moreover, WBD presents unique build-to-suit opportunities with an additional 30 acres of fully entitled land, making it an ideal location for large enterprises seeking a highly accessible headquarters in the heart of Miami.

Owners of Queen, Marion To Open Lafayette Steakhouse in Brickell

Lafayette Steakhouse, the latest addition to Miami's vibrant dining scene, is set to open its doors this Friday, promising an unparalleled culinary experience in the bustling Brickell district. Spearheaded by Mr. Hospitality Miami, the owners of Queen Miami Beach and Marion, Lafayette combines the allure of speakeasy culture with European elegance, offering discerning diners a sophisticated retreat amidst the city's dynamic energy.

Formerly known as El Tucán, Lafayette occupies an iconic space that reflects the evolution of sophistication in Miami's culinary landscape. With a focus on epicurean mastery, exemplary hospitality, and unmatched design standards, Lafayette aims to set new standards for luxury dining.

"At Lafayette Steakhouse, every detail is meticulously crafted to exude opulence and refinement, creating an unforgettable dining experience from the moment guests step through our doors," says Mathieu Massa, owner and founder of Mr. Hospitality Miami.

Catering to visionaries, artists, and socialites, Lafayette offers a haven of luxury and worldly sophistication. Inspired by Major General Marquis de Lafayette, the venue celebrates the enduring bond between France and America, blending speakeasy allure with European glamour.

The menu at Lafayette Steakhouse is curated by esteemed French Chef, Kylian Goussot, whose pedigree includes Michelin-starred restaurants and five-star hotels. Drawing inspiration from ingredient-driven cuisine, Chef Goussot presents a selection of premium meats, fresh seafood, and intricately flavored dishes, expertly prepared over a wood charcoal Josper oven.

Complementing the stellar cuisine is an extensive selection of hand-selected wines, spirits, and cocktails curated by Head Sommelier Gabrielle Neuberg. Pastry Chef Nelson Mendonca adds the final flourish with his creative and decadent desserts, leaving a lasting impression on guests' palates.

Lafayette's artistic legacy is further enhanced by acclaimed artist Octave Marsal, whose intricate menu illustrations add a unique dimension to the dining experience. Meanwhile, the interior design, led by Carlos Rodriguez of Escala Forma Studio, reflects a harmonious blend of European charm and contemporary elegance.

Through meticulous attention to detail and a commitment to curating an environment that transcends conventional luxury, Lafayette Steakhouse emerges as more than just a dining destination—it's a vibrant cultural nexus that celebrates Miami's rich heritage and culinary diversity.

Lafayette Steakhouse is located at 1111 SW 1st Ave, Miami, FL 33130.

A First Look Inside Mercedes-Benz Places Revealed at the Concours Club

Mercedes-Benz Places in Miami, the inaugural North American branded residential project, has unveiled its first look inside, marking a significant milestone in luxury living in Brickell. Developed by JDS Development Group in partnership with Mercedes-Benz, this mixed-use development merges modern living spaces with innovative mobility concepts, setting new standards for urban living.

The project, announced on February 26, 2024, has already seen remarkable success, with record sales of over 100 condominiums sold within the first four days on the market. The launch event, held at The Concours Club before the Formula 1 Miami Grand Prix, offered guests an exclusive preview of the residences' interiors, along with a unique conversation hosted by Toto Wolff, Team Principal & CEO of Mercedes-AMG PETRONAS F1 Team, and Michael Stern, Founder and CEO of JDS Development Group. Test drives in Mercedes-AMG GTR cars on the racetrack with professional drivers from Mercedes-Benz USA completed the unique experience of lifestyle in Miami.

Designed to offer a seamless mobility journey, Mercedes-Benz Places in Miami features a private porte cochere and panoramic rooftop pool, providing residents with breathtaking views of the skyline and cityscape beyond. Each residence, ranging from studios to three-bedrooms, is meticulously crafted to reflect modernity and luxury, with floor-to-ceiling windows, deep terraces, and spectacular views of Miami, Biscayne Bay, and the Atlantic Ocean.

Interior designs, created by the experts at Woods Bagot in collaboration with the Mercedes-Benz design team, showcase crisp blacks and whites, warm woods, and significant graphic elements, reflecting the brand's commitment to automotive-detailing, precision, and quality. Custom-designed kitchens and principal baths offer light and dark finish options, integrated Miele appliances, and luxurious marble countertops.

The architectural design, created by award-winning SHoP Architects, embodies Mercedes-Benz's design philosophy of Sensual Purity, combining intelligence and emotion to create clear forms and sensuous surfaces. The cube-shaped mixed-use tower features technical silver, classic black and white elements, and undulating curves, creating distinctive highlights and stimulating contrasts.

Gregg Pasquarelli, Founding Principal of SHoP Architects, highlights the project's investment in the Brickell community, stating, "Mercedes-Benz Places will revitalize public space in the neighborhood of Southside Park while making a statement with its superior quality in design."

Mercedes-Benz Places in Miami represents more than just a development; it embodies a vision for the future of urban living, offering residents a luxurious and connected lifestyle in the heart of Miami's vibrant Brickell district.

Event May 9: PROFILEconnect: Bespoke Networking 'A Moment in Miami Real Estate' at Giselle

Join us for a real estate Bespoke Networking Happy Hour on May 9 at 6 PM at Downtown Miami’s hottest rooftop, Giselle. PROFILEmiami has teamed up with The Restaurant People and E11EVEN Miami to launch Giselle’s new rooftop happy hour at the Downtown Miami hotspot. Regarded as the leader in Miami real estate networking, PROFILEconnect Bespoke Networking concept is set to bring together real estate’s hottest developers, brokers, financiers and designers together for a high-energy evening of cocktails and music overlooking the fast growing Downtown Miami.

Attendees will sip custom cocktails by E11EVEN Vodka and indulge in light bites by Giselle’s executive chef Gustavo Zuluaga while getting an up-close look at the fast moving construction at E11EVEN Hotel & Residences. This is not just a networking cocktail event; it's an experience.

Part of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series, the event will bring together Miami’s top real estate and business professionals and influencers, for a fun evening with industry leaders.

Date: Thursday May 9 @ 6 PM

Tickets: $75 (Includes 1 Cocktail & Light Bites)

Table Reservations: host@gisellemiami.com

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Thank You To Our Sponsors

Royal Palm Companies Secure $86 Million Financing for Tuscany Village

In a significant stride towards expanding quality residential options in Orlando, Royal Palm Companies led by Dan Kodsi and the Mattoni Group proudly announce the securing of an $86 million construction financing loan and the launch of Tuscany Village, a sprawling 420-unit multifamily complex set to enhance the Sanford area.

Strategically located at the southwest corner of State Road 46 and Upsala Road, Tuscany Village is poised to become a cornerstone community within Sanford, spanning 21 acres with seven four-story buildings. With construction slated to commence in the coming weeks and phased completion expected by 2026, the project is primed to transform the local residential landscape.

The acquisition of the development site at 4201 West First Street in June for $12.7 million laid the foundation for this ambitious venture. Financing for Tuscany Village has been secured through a partnership with City National Bank and Abanca USA, contributing $68 million in loans, and Origin Investments, providing $18 million in preferred equity. Notably, these financial arrangements feature floating interest rates without a rate cap, reflecting confidence in the project despite current economic uncertainties.

Royal Palm Companies, renowned for its innovative approach to real estate development since its inception in 1978, boasts a portfolio of $4.7 billion in developed, repositioned, and under-construction projects, including over 9,500 completed residential units. The collaboration with the Mattoni Group underscores the significance of Tuscany Village, leveraging their combined expertise to ensure the delivery of a top-tier residential community.

Despite challenges such as elevated interest rates, insurance premiums, and regional specifics like high concrete costs in South Florida, the decision to proceed with Tuscany Village reflects the unwavering commitment of Royal Palm and Mattoni Group to innovation, quality, and meeting the evolving needs of Florida's residents.

More than just a development project, Tuscany Village represents a future home for hundreds of families and individuals, meticulously designed to foster a vibrant and connected community. Royal Palm Companies and Mattoni Group are dedicated to bringing this vision to life, positively impacting the Sanford region and the broader Florida housing market.

How much does pet rent cost in Florida in 2024?

As pet ownership continues to rise globally, so does the demand for pet-friendly rental accommodations. Are you considering moving to the Sunshine State with your furry friend in tow? If so, you might be wondering about the extra costs associated with renting a pet-friendly apartment or house. As of 2024, pet rent remains a topic of interest for many prospective renters in Florida. Let's delve into the details and explore how much pet rent costs in the state this year.

Understanding Pet Rent

First things first, what exactly is pet rent? Pet rent is an additional monthly fee charged by landlords or property management companies to tenants who own pets. This fee is in addition to the base rent and is intended to cover any potential damages or extra maintenance costs associated with allowing pets on the premises.

Factors Affecting Pet Rent

Several factors influence the cost of pet rent. Additionally, in competitive rental markets where pet-friendly housing is scarce, landlords may charge higher pet rent to capitalize on the demand. Here are some key factors that play a role:

• Location: The location of the rental property within Florida is a significant determinant of pet rent. Urban areas and popular neighborhoods tend to have higher demand for pet-friendly housing, which can drive up pet rent prices. Cities like Miami, Orlando, and Tampa typically command higher pet rents compared to rural areas.

• Property Type: The type of rental property also affects pet rent. Apartment complexes, condominiums, and single-family homes may have different pet rent structures. For instance, apartment buildings with amenities such as dog parks or pet spas may charge higher pet rents to cover the cost of maintaining these facilities.

• Size and Type of Pet: Landlords often consider the size and breed of the pet when determining pet rent. Larger dogs or breeds perceived as more aggressive may be subject to higher pet rents due to potential concerns about property damage or liability. Additionally, some landlords may impose restrictions on certain breeds or limit the number of pets allowed per unit.

• Local Regulations: Municipal or county ordinances can influence the legality and extent of pet-related fees, including pet rent. While Florida state law does not specifically regulate pet rent, local jurisdictions may have their own regulations governing pet-related fees. Renters should familiarize themselves with local ordinances and ensure that any pet-related charges comply with applicable laws.

• Market Demand: Market demand for pet-friendly housing can also impact pet rent prices. In areas with limited pet-friendly options and high demand from pet-owning renters, landlords may be able to command higher pet rents. Conversely, in areas with abundant pet-friendly housing options, landlords may offer competitive pet rent rates to attract tenants.

• Property Amenities: The amenities offered by the rental property can influence pet rent. Properties with pet-friendly amenities such as fenced-in yards, pet washing stations, or nearby pet-friendly parks may justify higher pet rents due to the added value these amenities provide to pet-owning tenants.

Average Pet Rent in Florida

As of 2024, the average pet rent in Florida typically ranges from $20 to $50 per month per pet. However, it's essential to note that this is just an average, and actual costs can vary significantly based on the factors mentioned above.

In cities like Miami, Orlando, and Tampa, where rental markets are competitive and pet-friendly accommodations are in demand, pet rents tend to be on the higher end of the spectrum. Conversely, in smaller towns or rural areas, pet rents may be lower due to less demand for pet-friendly housing.

Tips for Renters with Pets

If you're a pet owner searching for a rental property in Florida, here are some tips to help you navigate the process:

• Start Early: Begin your search well in advance to find pet-friendly options that suit your needs and budget.

• Read the Lease Carefully: Make sure to thoroughly review the lease agreement, including any clauses related to pets, pet deposits, and pet rent.

• Be Honest About Your Pet: Provide accurate information about your pet to the landlord or property manager, including size, breed, and temperament.

• Negotiate if Possible: If you find a property you love but feel the pet rent is too high, consider negotiating with the landlord to see if they're willing to lower the fee.

• Consider Pet-Friendly Communities: Look for rental communities or complexes that cater specifically to pet owners, as they may offer amenities and policies more conducive to pet-friendly living.

Pet Insurance in Florida

Amid discussions about pet rent, it's essential to touch on the significance of pet insurance in Florida. Pet insurance helps offset the costs of unexpected veterinary bills in case your furry companion falls ill or gets injured. In Florida, where weather conditions can pose unique risks to pets, such as hurricanes or heat-related illnesses, having pet insurance can provide peace of mind to pet owners. From routine check-ups to emergency surgeries, pet insurance ensures that your pet receives the necessary medical care without causing financial strain.

Conclusion

Pet rent is a common practice in the rental market, aimed at offsetting the potential risks and costs associated with allowing pets on the property. While the cost of pet rent in 2024 can vary depending on various factors, pet owners can take proactive steps to negotiate favorable terms with their landlords. By understanding the factors influencing pet rent and advocating for their furry companions, pet owners can find suitable and affordable housing options that accommodate their entire family.

Todd Michael Glaser Sells Off-Market Commercial Building in Palm Beach For $3.9 Million

Palm Beach-based spec home developer Todd Michael Glaser has sold a commercial building in Palm Beach for $3.9 million. Located at 175 Bradley Pl., just four blocks north of The Royal Poinciana Plaza on Palm Beach Island, the 2,145 SF building was acquired by plastic surgeon Dr. Norman & Mia Rowe and traded for $1,181 PSF. The building was previously used as the headquarters for Todd Michael Glaser’s development firm. Stefano Santoro of Disruptive Real Estate represented the buyer and Fran Frisbie of The Corcoran Group represented the seller. The transaction represents one of eight retail trades on Palm Beach in the first four months of 2024; and of that eight, three were bought by the Breakers.