Fortune International Group and Blue Road Partnership Closes On Land For Next Residences For $16 Million

Fortune International Group, in partnership with Blue Road, has closed on a 1.74-acre site at 13899 Biscayne Boulevard for $16 million, paving the way for the future development of Nexo Residences. Nexo Residences is one of the first condo projects with short-term rental capability in the rapidly evolving city of North Miami Beach.

“The transaction is another positive step toward bringing Nexo Residences to fruition, following an extremely successful sales launch and approximately 50 percent of units reserved,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We continue to see strong interest from buyers and investors who are witnessing North Miami Beach’s transformation and want to own a part of its growth as a thriving destination.”

Slated to convert reservations to contracts end of August, Nexo Residences presents 254 move-in-ready condominiums with full home-sharing capabilities, coupled with resort-style amenities. With exclusive sales and marketing by Fortune Development Sales, Nexo Residences’ units will be delivered fully furnished.

Priced from the low $500,000s, studios to four-bedroom townhomes range from about 525 to 2,190 interior square feet. Each homeowner has the choice to rent his/her residence for short-, seasonal or long-term durations without listing limitations, making it a coveted property type for investors, while enjoying the option to utilize it at their own discretion or for personal leisure.

“Understanding the consumer demand to be at the nexus of everything, the project unites activated amenity spaces with an ideal location that allows residents to take advantage of the experiential offerings on property and within the neighborhood,” added Jorge Savloff, CEO of Blue Road.

Blending the necessities of remote work life with inspiration from South Florida as a year-round vacation destination, Nexo Residences’ suite of amenities includes a three-story arrival lobby and lounge; a two-story tech hub with a café; coworking spaces; a business center; luxury pool deck outfitted with a resort-inspired pool with loungers; two fully equipped summer kitchens; and a rooftop observatory deck with 360-degree views. Entertainment offerings include an outdoor children’s playground; multi-purpose clubroom and private event area; and a fitness center with a yoga studio and virtual trainer. The property will also be pet friendly.

Nexo Residences is in proximity to a plethora of business and leisure offerings in Miami, Bal Harbour, Aventura, North Bay Village, Sunny Isles, Hollywood Beach, and beyond. The property is set along the main thoroughfare of Biscayne Boulevard, minutes from the Intracoastal, and is nearly equidistant to Miami International Airport and Fort Lauderdale-Hollywood International Airport. Owners and guests can easily shop at brands like Whole Foods and Target, or indulge in fine dining, shops, and entertainment at surrounding retail centers. The property is also near popular outdoor recreational areas and green spaces, like Oleta River State Park and Haulover Park.

For more information about Nexo Residences, private showings or purchasing/ leasing information please fill out the form below:

The Estate Companies Obtains Site Plan Approval For Soleste on the Bay Luxury Waterfront Rental Development

The Estate Companies (EIG) has obtained unanimous site plan approval for Soleste on the Bay, a 759,439 square-foot, 28-story luxury waterfront rental community with 363 units, 17,000 square feet of commercial space and 645 parking spaces at 16375 Biscayne Blvd. in North Miami Beach. The city commission voted unanimously in favor of the project on Aug. 16th. Groundbreaking is slated for Q4 2022. The Estate Companies was represented by Land Use Counsel, Ethan Wasserman, of Greenberg Traurig, LLP.

This is The Estate Companies’ second major investment in North Miami Beach. Located directly next door to Soleste on the Bay, construction is underway on Soleste NoMi Beach, a 23-story rental community with 367 units and 2,708 square feet of ground floor commercial space. The project broke ground in October 2021.

Tenants can select from a variety of studios, one-, two- and three-bedroom units ranging in size from approximately 550-1,250 square feet.

Like all projects within the Soleste Living brand portfolio, Soleste on the Bay will be a highly amenitized development with a vast collection of health and wellness offerings and social components, including a 10th floor amenity deck with two resort-style pools, spacious sundeck, game room, yoga room, spinning room, lounge, state-of-the-art fitness center and cinema.

The 2.15-acre waterfront property is located on the south side of the Royal Glades Canal with water views to the north and east. The site offers easy access to the 163rd Street Causeway, which connects to US-1 and A1A and all major arteries. The project is also in close proximity to Greynolds Park and within minutes to the beach and two of Florida’s premier shopping destinations, the Aventura Mall and legendary Bal Harbour Shops.

The Estate Companies is one of Florida’s largest and most active multifamily development firms with more than 4,000 rental units and 153,000 square feet of commercial space in the pipeline throughout the tri-county region. The firm recently completed and sold Miami’s first large-scale, ground-up opportunity zone development, Soleste Grand Central in Downtown Miami. Development is also nearing completion on Alture Westland, a hotel conversion in Hialeah, and Soleste Spring Gardens in Miami’s historic health district. The Estate Companies recently completed and sold Miami’s first large-scale opportunity zone development, Soleste Grand Central in Downtown Miami. In addition to two projects in North Miami Beach, the firm has projects in various stages of development in Dania Beach, Spring Gardens, Hollywood, Riviera Beach, Lauderhill, Pompano Beach and West Palm Beach, among others.

PROFILE EXCLUSIVE: NEW RENDERINGS OF NEXO RESIDENCES IN NORTH MIAMI BEACH

Fortune International Group in partnership with Blue Road announced the sales launch for Nexo Residences in April and today have released new renderings and design details, exclusively on PROFILEmiami.

The property, featuring 254 residences, is one of the first condo projects with short-term rental capability in the rapidly growing city of North Miami Beach, adding to the area’s economic growth currently underway. Located at 13899 Biscayne Boulevard, it presents move-in-ready residences with full home-sharing capabilities without restrictions, coupled with resort-style amenities. Priced from the $400,000s, studios to four-bedroom townhomes range from about 525 to 2,190 interior square feet.

“We underwent an extensive design process, which included traveling to Italy to visit Il Salone Di Mobile which is the most important design fair to incorporate the most cutting-edge elements throughout the property. Both within the residences and shared amenity spaces, it is important that we deliver a project that speaks to both the buyer and user,” said Ana Christina DeFortuna, Executive Vice President of Fortune International Group. “In studying the audience for Nexo Residences, combined with its prime North Miami Beach location, it was necessary to consider a tech-forward destination that incorporates sustainability with contemporary materials, while making social gathering spaces the highlight of the property.”

The project is designed by Frankel Benayoun Architects Inc, with consultation from internationally-renowned architect Carlos Ott. Its common areas, residence interiors, and landscaping are curated by Urban Robot, the local, full-service design collective behind some of the city’s leading hotels and retail concepts, including W Hotel South Beach, the Gucci Flagship in Miami’s Design District, and Oasis Wynwood. The amenity program was purposefully designed to activate spaces that inspire connectivity within the community.

A rooftop observatory deck will be perfect for scenic experiences, enjoying the expansive open vistas of the neighborhood treetops and water views. The space will be regularly activated as a central area for socializing, complete with a fire pit, dining and cooking area and a refuge for stargazing.

The architectural centerpiece for Nexo Residences is the two-story tech hub with a café, coworking spaces, and a business center. It was designed as a grand focal point when you approach the property from the main thoroughfare of Biscayne Boulevard. The multi-story space will span more than 2,600 square feet and feature large floor-to-ceiling windows that will welcome natural light throughout.

Blending the necessities of remote work life with inspiration from South Florida as a year-round vacation destination, Nexo Residences’ suite of amenities includes a two-story arrival lobby and lounge, which will be an impressive visual experience upon entry to the building. The property’s contemporary design extends onto an outdoor children’s playground. Catering to the modern family, it is a kid’s haven of fitness and activity surrounded by striking architecture and lush greenery. Health enthusiasts can relish the indoor/outdoor fitness center with a yoga studio and virtual trainer and a luxury pool deck complete with resort-inspired pool and two spa pools with loungers.

Turnberry Development In Partnership With Carlos Rosso Launch One Park Tower By Turnberry at SoLé Mia

Turnberry Development in partnership with Carlos Rosso has announced the launch of ONE Park Tower by Turnberry at SoLé Mia, a luxury condominium reimagined for the next generation. Set within the multi-billion dollar, 184-acre master-planned community of SoLé Mia in the heart of North Miami, the 32-story tower will deliver 303 bespoke residences overlooking a seven-acre Crystal Lagoon™ and surrounded by pristine natural landscapes, with access to a private beach, amenities created to offer residents a sophisticated lifestyle, and ocean views.

ONE Park Tower by Turnberry has been thoughtfully designed to offer resort-style, attainable luxury living for families seeking a walkable and connected community to call home. Envisioned by award-winning architecture firm Arquitectonica with interior design by globally recognized Meyer Davis, acclaimed landscape architect Enzo Enea will curate gardens that enhance the natural attributes of the location and encourage a connection to nature.

Owners can walk to SoLé Mia’s community parks and trails, retail and upscale restaurants. The SoLé Mia masterplan includes amenities that anticipate residents’ needs and foster wellbeing, anchored by a 225,000 sq. ft, 10-acre world-class University of Miami UHealth Medical Center currently under construction.

"Turnberry has always been at the forefront of neighborhood creation, bringing our legacy of excellence to build communities that cater to families and cultivate a strong sense of place—this is our vision with SoLé Mia,” said Jackie Soffer, Chairman & CEO of Turnberry Associates. “ONE Park Tower by Turnberry is for those who seek a luxury lifestyle surrounded by a community of family, friends, restaurants, retail, endless outdoor activities, and state of the art medical service.”

The centerpiece of the SoLé Mia community, a crystal-clear swimmable lagoon the size of 21 Olympic-sized pools, will provide ONE Park Tower by Turnberry residents a dedicated lagoon-front beach with umbrellas and beach chairs. Property staff will offer exceptional, individualized service for which Turnberry is known, including a Beach Concierge to arrange stand-up paddle boards and kayaks for rent and dining from The Lagoon Café and adjacent restaurants. ONE Park Tower by Turnberry’s healthy lifestyle includes a private swimming pool, pickleball courts, and a state-of-the art wellness center which includes fitness, spa and massage facilities. Residents will also enjoy co-working facilities, a library, private event rooms, a climate-controlled wine room and dedicated children’s playroom. A gated entry, 24-hour security and secured garage parking with electric charging stations complete the offering.

“South Florida lacks locations developed specifically for growing families and young professionals, and we intend to deliver just that,” said Carlos Rosso, Founder & CEO of Rosso Development. “There is an overwhelming demand for condos surrounded by all the incredible amenities this site has to offer–with everything you need at your fingertips. Complete with an intentional integration with nature and an array of incredible amenities, ONE Park Tower by Turnberry will cater to an up-and-coming group of buyers who are looking for real luxury at attainable price points. This property excites us because of the opportunity it will provide to Miami families to continue to flourish in the city they love, with the lifestyle they are accustomed to.”

Consisting of spacious one-, two-, and three-bedroom units, plus a collection of penthouses, floorplans feature dens and large powder rooms – and are designed to fit a range of lifestyles, with connectivity to the outdoors and panoramic views of the Crystal Lagoon, Oleta River State Park, Biscayne Bay, the Atlantic Ocean, and the Miami city skyline. Spanning from 900 square feet to 2,100 square feet, residence interiors intentionally blend the natural beauty of the site with the vibrancy of the surrounding urban atmosphere. High ceilings and walls of glass open up to oversized private wrap-around terraces with seamless glass railings. All units will be completely finished with porcelain floors, oversized master bedrooms and walk-in closets (closet upgrades will be offered), and master baths featuring wet rooms with shower and soaking tub.

"We rarely have the opportunity to design a building with open water views as a touchpoint from every unit and amenity. Whether it be your arrival experience, in the lobby, the gardens, or the Sunset pool, your eyes are always in contact with the water,” said Will Meyer of Meyer Davis. “Our design for ONE Park Tower by Turnberry is inspired to accentuate the beauty of the natural surroundings while offering functional luxury buyers are seeking.”

Fortune International Realty is the exclusive sales and marketing broker for ONE Park Tower by Turnberry.

For more information about One Park Tower by Turnberry, private showings or purchasing/ leasing information please fill out the form below:

Fortune International Group And Blue Road Launch Nexo Residences, North Miami Beach Condo Allowing Short Term Rentals

Fortune International Group, one of South Florida’s preeminent residential real estate development, sales and marketing leaders for nearly 40 years, in partnership with Blue Road, a Florida-based integrated developer of hospitality, residential, commercial, and mixed-use projects, has announced the sales launch for Nexo Residences. The newest condominium development in North Miami Beach introduces short-term rental capability with full flexibility and central connectivity.

The property, featuring 254 residences, is one of the first condo projects with short-term rental capability in the rapidly growing city of North Miami Beach, adding to the area’s economic growth currently underway. Located at 13899 Biscayne Boulevard, it presents move-in-ready residences with full home-sharing capabilities without restrictions, coupled with resort-style amenities.

Nexo Residences’ units will be delivered turnkey and are priced from the $400,000s, studios to four-bedroom townhomes range from about 525 to 2,190 interior square feet. Each homeowner has the choice to rent his/her residence for short-, seasonal or long-term durations without listing limitations, making it a coveted property type for investors, while enjoying the option to utilize it at their own discretion or for personal leisure. Sales and marketing are exclusively overseen by Fortune Development Sales.

“Nexo Residences will serve as the premier short-term rental offering in North Miami Beach, an area that has been underserved in hotel and rental product; most projects of this kind concentrate in Downtown Miami and Brickell,” said Edgardo Defortuna, president and CEO of Fortune International Group. “This booming submarket continues to draw residents and visitors for its nearby office parks, universities, shops, and dining. We envisioned the project as a complement to its surroundings, while activating the property with thoughtful features and technology that speak to the future of real estate.”

“Understanding the consumer demand to be at the nexus of everything, we chose a location that allows residents to take advantage of all the experiential offerings in the neighborhood, with the added benefit and comfort of hotel amenities and services,” added Jorge Savloff, CEO of Blue Road.

Each turnkey residence is fully finished with floor-to-ceiling windows, porcelain flooring, built-in bedroom closets, dedicated lockable owners’ closets, and expansive balconies with glass railing. European-style kitchens are outfitted with quartz countertops and matte black fixtures for a modern look.

Enhanced digital features, such as smart key access, a self-service package system, and Wi-Fi throughout the common areas, provide ease for owners and guests. Additional tech-driven management systems to further elevate the transient experience will also be introduced in the future.

Blending the necessities of remote work life with inspiration from South Florida as a year-round vacation destination, Nexo Residences’ suite of amenities includes a two-story arrival lobby and lounge, which will be an impressive visual experience upon entry to the building. A two-story tech hub with a café, coworking spaces, and a business center make work a breeze, while entertainment offerings include an outdoor children’s playground, multi-purpose clubroom and private event area.

Health enthusiasts can relish the indoor/outdoor fitness center with a yoga studio and virtual trainer. To enjoy Miami’s sunshine, visit the luxury pool deck complete with a resort-inspired pool and two spa pools with loungers, or meet friends in the summer kitchen, followed by stargazing on the rooftop observatory deck. Additionally, residents can rest assured that their four-legged friends are welcome in the pet-friendly building.

The project is designed by Frankel Benayoun Architects Inc, with consultation from internationally-renowned architect Carlos Ott. Its common areas, residence interiors, and landscaping are curated by Urban Robot, the local, full-service design collective behind some of the city’s leading hotels and retail concepts, including W Hotel South Beach, the Gucci Flagship in Miami’s Design District, and Oasis Wynwood.

Nexo Residences is in proximity to a plethora of business and leisure offerings in Miami, Bal Harbour, Aventura, North Bay Village, Sunny Isles, Hollywood Beach, and beyond. The property is ideally set along the main thoroughfare of Biscayne Boulevard, minutes from the Intracoastal, and is nearly equidistant to both Miami International Airport and Fort Lauderdale-Hollywood International Airport. Nexo Residences is also nearby Bal Harbour Shops and Aventura Mall, which recently underwent a multi-million-dollar expansion, and popular outdoor recreational areas and green spaces, like Oleta River State Park and Haulover Park.

For more information about Nexo Residences, private showings or purchasing/ leasing information please fill out the form below:

North Miami Beach Financial Center In Opportunity Zone Trades For $9.3 Million

The North Miami Beach Financial Center, a 2.47-acre site featuring a two-story Regions Bank building located in an opportunity zone at 16051 W. Dixie Highway in North Miami Beach, has sold for $9.3 million. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam J. Tiktin and Greg Matus of Franklin Street’s Florida Investment Sales Team represented the seller in the transaction.

North Miami Beach Financial Center was originally constructed in 1972. The SAE Institute has been a tenant of the Regions Bank building since 2002. The property features strong fundamentals including 675 feet of frontage along West Dixie Highway, easy access, sufficient parking and an excellent location. Situated two blocks from the signalized intersection of Biscayne Boulevard and NE 163rd Street, the site experiences traffic counts of 49,500 and 43,500 per day respectively

Cushman & Wakefield Arranges $5.8M Sale of North Miami Beach Apartment Community

Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of a 36-unit apartment community located at 16851 NE 18th Avenue in North Miami Beach. The final sale price was $5.8 million, which comes out to $161,111 per door.

Calum Weaver and Perry Synanidis of Cushman & Wakefield represented the seller, EUS at 18th Ave LP., in the transaction. Demian Perelmuter with F Advance Mgmt., which specializes in stabilized and value-add multifamily acquisitions, acquired the property. “F Advance Mgmt. plans to renovate the property and providing updated units that are needed within the market,” Perelmuter said. 

Built in 1964, the property includes one three-story building with one- and two-bedroom units averaging 772 square feet. The property was fully leased at the time of the sale.

By Katya Demina

City of Miami Beach Approves Ocean Terrace Redevelopment Plan Along North Beach Beachfront

The City of Miami Beach Historic Preservation Board has approved the Ocean Terrace Holdings (OTH) redevelopment plan and Ocean Terrace streetscape masterplan. Led by OTH principals Sandor Scher and Alex Blavatnik, the redevelopment plan includes a 20-story, 75-unit residential building, new restaurant and retail options, and a 127-room hotel that incorporates the carefully renovated and unified historic Broadmoor and Ocean Surf properties. Following years of community outreach and negotiations with the City, the approval of OTH’s redevelopment plan will revitalize this underutilized area in North Beach along Collins Avenue, between 74th and 75th Street.

“The approved plan for Ocean Terrace is more economically viable, will attract a world-class hotel operator, and will incorporate a beautifully-designed oceanfront greenspace for the entire community to enjoy,” said Sandor Scher, principal of Ocean Terrace Holdings, LLC. “We look forward to getting to work on our long-awaited project, which will restore the street-level historic architecture, transform Ocean Terrace into a lushly-landscaped oasis and give new life to this cherished beachfront.”

The approved plan includes a few recently added enhancements that will elevate the project’s hotel and residential components. To help attract a world-class hotel flag to the project, the plan adds a new hotel building with 72 rooms that will be built within previously approved height restrictions. The hotel will be managed as one operation with the historic Broadmoor and Ocean Surf hotel buildings. The hotel will include restaurants, bar, meeting rooms, fitness, spa, outdoor pool and deck, rooftop lounge, and on-site parking.

With an historically inspired design, the residential component will feature curvilinear designs reflective of MiMo style, such as curved balconies and eyebrows. Units will range in size from 2 to 5 bedrooms and feature a full complement of luxury amenities. The masterplan also calls for approximately 15,000 square feet of commercial space along Collins Avenue and approximately 3,000 square feet along Ocean Terrace.

“We are grateful to the North Beach community and City of Miami Beach for working together with us to create a vision for Ocean Terrace that incorporates historic preservation, activation of the oceanfront, and economic revitalization,” said Alex Blavatnik, principal of Ocean Terrace Holdings, LLC. “We are excited to now be able to bring that vision to life, starting with an iconic and activated public space that will belong to the City for future generations.”

The first stage of the redevelopment plan will focus on a new $15 million, five-acre public greenspace along Ocean Terrace designed by world-renowned landscape architect Raymond Jungles. The asphalt street will be converted into an active, pedestrian-focused greenspace with native trees that will provide much-needed shade. A public-private partnership with the City of Miami Beach, the streetscape plan will also offer new walking trails, water features, public seating, and a covered pavilion. A mid-block open breezeway in the Ocean Terrace development will also connect Collins Avenue retail to Ocean Terrace, allowing enhanced public access to the oceanfront. OTH will fully fund the park, with no cost to taxpayers, and will deliver the greenspace on an expedited timeline.

Construction on the public greenspace is set to begin in the third quarter 2022. Pre-construction sales for the residential building are also estimated to launch in 2022.

The Estate Companies Locks Down $76 Million Construction Loan For Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), has locked down a $76 million construction loan for Soleste NoMi Beach apartments in North Miami Beach. The financing was provided by Bank OZK was arranged by Brian Gaswirth and Michael DiCosimo of JLL. The developer plans to break ground by the end of June after closing on the site in December 2020 for $13.1 million.

When complete, Soleste NoMi Beach will rise 23-stories and will feature 367 apartment units, 2,708 square feet of commercial space and 655 parking spaces. Amenities will feature a pool deck, spa, fitness center, co-working space and a landscaped rooftop garden.

Soleste NoMi Beach was approved in September 2020 and was designed by Form Group. The 1.78-acre site is located at 16395 Biscayne Blvd.

The Estate Companies Gearing Up To Break Ground On Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), is gearing up to break ground on Soleste NoMi Beach in North Miami Beach. The project, which is located at 16395 Biscayne Blvd., will feature 367 apartment units, 2,708 square feet of commercial space and 655 parking spaces. The Estate Companies acquired the site in December 2020 for $13.1 million after the project, designed by Form Group, was approved in September 2020.