Eyzenberg & Co. Secures $21.3 Million Loan For Weiss Group of Companies Kobi Karp-Designed Towers at Blue Lagoon

Weiss Group of Companies has secured $21.3 million in bridge financing for the Kobi Karp-designed Towers at Blue Lagoon, which will replace a previous loan and fund predevelopment costs. Weiss Group has owned the 7-acre site located near Miami International Airport since the 1970s. In March 2019, their proposed rezoning to Miami city commissioners that would raise the development site’s maximum building height from eight stories to 12 stories was approved. Phase one of the mixed-use project will include a total of 829 multi-family units in two 184,000-square-foot buildings. Unit floor plans will include studio, one-, two-, and three- bedrooms. Future plans for the development include two 147-room hotels, parking spaces, affordable, market-rate and workforce housing, and improved roads and pedestrian walkways.

Weiss Group secured the loan from a Canadian private lender, according to the president of Eyzenberg & Co. Eyzenberg and Robert Ginsberg, managing director of Eyzenberg & Co., assisted in arranging the loan on behalf of Weiss Group.

By Isabella Zimmermann

JOIN US FOR A WEBINAR: COVID-19 IMPACT ON RESIDENTIAL REAL ESTATE IN SOUTH FLORIDA

Registration Link: https://us02web.zoom.us/webinar/register/WN_8CnLjRjVStabPaNH3ibChg

Join PROFILEmiami for an interactive webinar discussion focusing on the impact that the COVID-19 pandemic will have on the residential real estate markets in South Florida. We will explore topics such as how are South Florida’s leading real estate professionals reacting to the crisis, how will the markets be impacted, what future opportunities may present themselves and how will lifestyle changes due to the pandemic, quarantine and social distancing change how we think about and develop residential real estate. The webinar will be hosted on Zoom and will be open for anyone to join as a listener for free. If a listener cannot attend live, a recording will be sent after the webinar and it will also be uploaded to YouTube.

Where: Once you register, Zoom will send you a link to the webinar.

When: Tuesday, April 21, 2020 | 3-4 PM

Speakers:

• Edgardo Defortuna - President & CEO, Fortune International

• Jay Parker - CEO, Douglas Elliman Florida

• Carlos Rosso - President Condominium Division, Related Group

• Moderator: Demetri Demascus - CEO & Co-Founder, PROFILEmiami

Topics:

• What is your personal outlook on how COVID-19 will ultimately affect the South Florida residential real estate markets? Will there be permanent changes to the market or the industry? Which markets will see the most change? 

• How are you handling projects currently under construction?

• What lessons did you learn from past recessions and how did they shape how you’re handling today’s crisis? Have you learned any lessons from the COVID-19 crisis?

• How will quarantine and social distancing change the way we think about residential real estate? 

  • How will it impact the design and development process? 

  • How will it impact the sales and marketing process?

  • How will it impact consumer lifestyle at home? Will consumers want more space, more land, more amenities in their home? How will this differ between condo and residential?

• How will the impact on the market differ between single family and condominium? Will we see a period of suburbanization? 

• What steps have you guys taken to position yourselves and your companies to emerge from the crisis when we can get back to work?

Can’t tune in live? Sign up below now and we will share a recording after the webinar.

Registration Link: https://us02web.zoom.us/webinar/register/WN_8CnLjRjVStabPaNH3ibChg

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Ken Griffin Locks Down $49 Million Mortgage For $350 Million Palm Beach Assemblage

The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has locked down a $49 million mortgage from Citibank at 60 Blossom Way in Palm Beach. The loan was arranged by Providencia Partners. Griffin originally purchased the 18,452 SF mansion, which was built in 2008 and sits on 3.6 acres, in September 2019 in cash for $99 million from real estate investor Frank McCourt.

Griffin first entered the Palm Beach market in 2012 when he purchased a four property, 6.5 acre Blossom Way assemblage for $130 million. In July 2015 he expanded his holdings with the $15.2 million purchase of 70 Blossom Way and in 2016 received approval from the town to build a 33,500 SF single story tropical beach house complete with a 22,300 SF service basement, 2 pools and 875’ of beachfront. The plans were scrapped and Griffin continued to expand his assemblage with the purchase of the 4.18 acre 1290 S. Ocean Blvd. in January 2017 for $85 million. Griffin would scrap construction again in early 2018 after contractors bids came in too high and the buying would continue with the purchase of 10 Blossom Way for $20.25 million adding yet another 2 acres to his assemblage. In September 2019, soon after the closing of 1925 S. Ocean Blvd, Griffin added 60 Blossom Way, 3.6 more acres for $99 million.

Related Group Selects Stantec To Lead The Architecture & Engineering Of Manor Miramar

The global design and delivery firm Stantec has announced that it has been selected by Related Group to provide architectural and engineering services for the Manor Miramar residential project located in the Miramar Town Center at 1 Main Street. Manor Miramar will rise eight stories and include 393 high-end residential units, 28,000 square feet of ground-floor retail, and a 650-space parking garage.

The project’s Mediterranean-inspired design will feature elegant arched windows, terracotta barreled tiled roofing, and a main entrance whose porte-cochère is adjacent to a landscaped plaza furnished with paved pathways and benches. The ground floor’s arched covered walkways and large windows are fit to attract any passerby to the various residential amenity spaces, including a bowling alley, game room, fitness center, spa, dining areas, and retail stores.

Manor Miramar is within walking distance to several of the city’s landmarks within the Miramar Town Center, such as the city hall, the cultural arts center, library, an education facility, and a transport hub.

“The residential complex will be an important component of the City of Miramar’s master plan to transform the Miramar Town Center into a true hub for the community,” said Christina Villa, senior associate and project manager with Stantec’s Miami office. “The building’s design will complement the area’s existing Mediterranean style of architecture and the city’s vision of a vibrant main street with promenades and retail shops.”

Residences comprise of studios, one-, two-, or three-bedroom units and range anywhere in size from 420 square feet to 1,600 square feet. Seven two-story, three-bedroom units will have their own private terraces that face both the interior courtyard and pool. Construction for Manor Miramar is scheduled to begin in 2020.

By Isabella Zimmermann

Douglas Elliman Releases Q1 2020 South Florida Market Reports

Douglas Elliman in conjunction with Miller Samuel, a leading independent appraisal firm, has just released their Q1 2020 Market Reports for South Florida. It reveals noticeably stronger results for listing inventory growth in the first two and a half months of the quarter until market awareness of COVID-19 occurred in mid-March, which slowed growth across South Florida in areas such as Boca Raton, Delray Beach, Fort Lauderdale, Miami Beach, and the Miami Coastal Mainland. The report reflects pre-pandemic strengths in the South Florida market and even an increase in some areas’ average sales price and number of sales compared to the previous quarter, especially in Palm Beach, which saw a 46.7% rise in number of closed condo sales and had the most significant year over year increase in single-family sales in six years.

“The same fundamentals that have made Florida attractive, and have supported the relatively long-term stability in our markets over the past few years, all remained in place during the first quarter as much as they will once we get past this pandemic. Overall Q1 reflected the pre-pandemic strengths we have been enjoying, with most markets realizing steady sales volume and pricing. As we come out of this global crisis, I believe that the desirability for Florida’s lifestyle coupled with tax reform, and the maturation of our markets, will continue to support the trajectory the markets were on prior to COVID-19,” said Jay Phillip Parker, CEO of Douglas Elliman Florida brokerage.

Miami Beach/Barrier Islands

Overview:

·      Overall listing inventory declined year over year for condos and single-family properties

·      Condo price trend indicators declined from the year-ago quarter

·      Single-family price trend indicators declined annually, partially skewed by the decline in average sales size

·      A sharp drop in average sales size for both luxury condos and luxury single-family properties skewed price trend indicators lower

Key Trend Metrics (Year to Year)

Overall:

·      Median sales price slipped 1.1% to $435,000

·      Average price per square foot decreased by 12.4% to $621

·      Number of sales slipped by 0.4% to 769

·      Listing inventory decreased by 4.5% to 6,425 

Luxury Condo:

·      Median sales price fell 20.8% to $2,553,000

·      Average price per square foot decreased by 9.5% to $1,175

·      Listing inventory rose 12.2% to 1,129 units

·      Average square footage declined 13.8% to 3,429

Luxury Single Family:

·      Median sales price fell 32.9% to $9,766,667

·      Average price per square foot decreased by 22.3% to $1,184

·      Listing inventory dropped 19.1% to 169 units

·      Average square footage declined 13.6% to 8,249

Miami Coastal Mainland

Overview: 

·      Overall listing inventory declined sharply on a year over year basis for both condos and single-family properties

·      Condo sales rose annually for the fourth straight quarter as price trend indicators pressed higher

·      Single-family price trend indicators rose annually, and sales extended its year over year growth streak to the fourth straight quarter

·      A significant decline in listing inventory on a year over year basis for both luxury condos and luxury single-family properties

Key Trend Metrics (Year to Year)

Overall: 

·      Median sales price rose 9% to $340,000

·      Average sales price increased by 7.6% to $458,287

·      Number of sales rose 7.7% to 3,343

·      Listing inventory fell 14.1% to 10,519 units

Luxury Condo

·      Median sales price increased by 20% to $1,195,545

·      Average price per square foot rose 5.1% to $492

·      Listing inventory declined 19.8% to 2,212 units

·      Average square footage increased by 12.9% to 2,430

Luxury Single Family

·      Median sales price rose 13.7% to $1,600,000

·      Average price per square foot edged up 1.1% to $444

·      Listing inventory fell 24.4% to 925 units

·      Average square footage slipped 3.3% to 4,037

Fort Lauderdale

Overview:

·      Condo price trend indicators pressed higher as sales slipped year over year

·      Single-family sales and price trend indicators posted large annual gains

·      Luxury condo price trend indicators showed mixed year over year results

·      Luxury single-family price trend indicators surged, skewed by large increase in average sales size

Key Trend Metrics (Year to Year)

Luxury Condo:

·      Median sales price slipped 1.3% to $1,210,000

·      Average price per square foot edged up 1.3% to $558

·      Listing inventory decreased by 2.6% to 339 units

·      Average square footage declined 3.6% to 2,604

Luxury Single Family:

·      Median sales price jumped 44% to $3,225,000

·      Average price per square foot rose 47.7% to $783

·      Listing inventory fell 25.3% to 296 units

·      Average square footage rose 17% to 5,778

Boca Raton/Highland Beach 

Overall:

·      Condo listing inventory fell year over year for sixth straight quarters with the most significant decline in the current quarter

·      Single-family listing inventory declined annually over the past four quarters at a rising rate

·      Luxury condo and luxury single-family inventory fell short of year-ago levels

Key Trend Metrics (Year to Year)

Luxury Condo: 

·      Median sales price slipped 0.3% to $900,000 

·      Average price per square foot decreased by 0.2% to $465

·      Listing inventory fell 15.6% to 260 units

·      Average square footage declined by 4.8% to 2,666

Luxury Single Family

·      Median sales price fell 10.3% to $1,895,000

·      Average price per square foot rose 1.2% to $407

·      Listing inventory fell 16.9% to 339 units

·      Average square footage declined 0.4% to 7,267

Delray Beach

Overview:

·      Single-family median sales price hasn’t shown a year over year decline in four quarters 

·      Condo listings fell annually for four straight quarters 

·      Luxury single-family price trend indicators showed mixed results

·      Luxury condo price trend indicators showed substantial annual gains, partially aided by the increase in sales size 

Key Trend Metrics (Year to Year)

Luxury Condo:

·      Median sales price jumped 40.3% to $754,000

·      Average price per square foot rose 48.9% to $530

·      Listing inventory fell 36.3% to 163 units

·      Average square footage increased by 2.4% to 1,827

Luxury Single Family:

·      Median sales price fell 19.6% to $1,400,000

·      Average price per square foot rose 5.5% to $439

·      Listing inventory declined 7.1% to 91 units

·      Average square footage declined 1.8% to 4,781

Wellington 

Overview:

·      Condo price trend indicators and sales rose as listing inventory declined from the prior year

·      Single-family sales and price trend indicators moved higher year over year as listing inventory dropped sharply

·      Luxury price trend indicators for both property types showed mixed results

Key Trend Metrics (Year to Year)

Luxury Condo:

·      Median sales price rose 22% to $730,000

·      Average price per square foot decreased by 3.3% to $348

·      Listing inventory increased by 9.1% to 36 units

·      Average square footage declined 10.9% to 2,038

Luxury Single Family: 

·      Median sales price fell 45.5% to $1,500,000

·      Average price per square foot rose 18.1% to $654

·      Listing inventory declined 12.3% to 207 units

·      Average square footage declined 21.9% to 4,465

Palm Beach

Overview: 

·      Listing inventory for condos, single-family properties and luxury fell sharply from year-ago levels

·      All three condo price trend indicators rose year over year for the third straight quarter

·      The most significant year over year increase in single-family sales in six years

·      All three price trend indicators for the luxury market were skewed higher year over year by the surge in average sales size

Key Trend Metrics (Year to Year)

Luxury Condo and Single Family: 

·      Median sales price surged 48.1% to $10,517,500

·      Average price per square foot rose 12.2% to $1,841

·      Listing inventory dropped 49.6% to 64 units

·      Average square footage surged 49.4% to 7,344

Jupiter/Palm Beach Gardens

Jupiter Overview:

·      Single-family sales price trend indicators and sales showed substantial annual gains

·      Condo sales declined as price trend indicators press higher from year-ago levels

Palm Beach Gardens Overview:

·      Single-family sales price trend indicators were mixed as sales jumped year over year

·      Condo sales and price trend indicators showed robust annual increases

Key Trend Metrics (Year to Year)

Jupiter Luxury Condo:

·      Median sales price slipped 5.4% to $915,000

·      Average price per square foot rose 2.7% to $452

·      Listing inventory rose 17.4% to 54 units

·      Average square footage edged up 0.3% to 2,378

Jupiter Luxury Single Family:

·      Median sales price rose 8.5% to $2,600,000

·      Average price per square foot increased by 9.2% to $666

·      Listing inventory rose 7.4% to 131 units

·      Average square footage increased by 17.1% to 5,699 

Palm Beach Gardens Luxury Condo:

·      Median sales price surged 39.5% to $600,000

·      Average price per square foot rose 46.5% to $315

·      Listing inventory fell 44.2% to 43 units

·      Average square footage increased by 18.6% to 2,588

Palm Beach Gardens Luxury Single Family:

·      Median sales price fell 22.6% to $1,937,500

·      Average price per square foot decreased by 1.5% to $461

·      Listing inventory declined 12.1% to 131 units

·      Average square footage declined 18.5% to 4,837

Article by Isabella Zimmermann

Tour This Lavish Lantana Waterfront Estate On The Intracoastal Asking $15.95 Million

A lavish Intracoastal waterfront estate in Lantana, FL, located in Palm Beach County, has hit the market for $15.95 million. Famed architect Roger Patton Janssen, from Dailey Janssen Architects, designed the astounding estate which is nestled on 1.5 acres between the Intracoastal Waterway and the Atlantic Ocean. Located at 319 N Atlantic Drive, the home is within minutes to the famed Eau Resort & Spa and provides the ultimate level of privacy and convenience.

Upon entering the 13,342 SF home, one is greeted by a double height foyer leading to the grand living room seamlessly connecting all elements of the home with the outdoors and views of the water. The estate features 10 bedrooms 9 baths and 3 half baths the property features a custom kitchen with vaulted ceilings is adjacent to the rotunda like breakfast room with access to the outdoors. The home also features a six car garage, large fitness center, steam room, cedar wine cellar and private screening room this estate exudes the ultimate South Florida paradise.

The backyard oasis features an oversized swimming pool cabana with a rooftop terrace and multiple covered outdoor living areas. A true Sea dweller's paradise, this home offers over 220' of Intracoastal frontage and 10' depth. Two guest homes lay above the garages upon arrival equipped with 2 bedrooms and 2 full baths offering the ultimate privacy from the main estate when hosting guests.

319 N Atlantic Drive is currently listed for $15,950,000 with Chris Leavitt, Ashley McIntosh and Martin Conroy of Douglas Elliman.

Beauty & Fashion Entrepreneur Loren Ridinger Purchases Residence at Two Roads Development's Elysee in Edgewater

Internet beauty and fashion mogul Loren Ridinger, co-founder and senior executive vice president of Market America and founder of the cosmetics brand Motives, has purchased a new condo at Elysee. The three-tiered, 57-story luxury building in Miami’s Edgewater district was designed by Arquitectonica’s Bernardo Fort-Brescia and boasts elegant interior spaces from Parisian designer Jean-Louis Deniot. Elysee is scheduled to be completed later this year.

Ridinger’s half-floor residence at the boutique high-rise will have 4 bedrooms, a den, 5.5 bathrooms, and 180-degree direct east/west facing terraces that will give panoramic views of Biscayne Bay, Miami Beach, and the Downtown Miami skyline, for a total of 3,865 square feet of interior and exterior space. The unit also features private elevator access, 10-foot-high ceilings, custom Waterworks master bedroom fittings and fixtures, and gourmet kitchens with ItalKraft cabinetry and professional-grade appliances.

“I was attracted to Elysee’s estate-sized units, incredible views, massive offering of amenities and, above all, its amazing location,” said Loren Ridinger. “Edgewater’s proximity to the Design District, coupled with the building’s on-site entertaining and business spaces are particularly appealing and conducive to my personal and professional lifestyle needs.”

Elysee offers three full floors of amenities. The Grand Lobby Level, with its elegant marble living room area, bayfront lounge, and waterfront pool, is minutes away from Downtown’s Art & Entertainment District, the Miami Design District, the Wynwood Arts District, Midtown Miami, and Miami Beach. The tower’s 7th-floor provides a resort-sized lap pool, a state-of-the-art fitness center, a spa with private sauna, steam and massage rooms, a blow-dry bar, and a children’s playroom. The Elysee’s Owners’ Sky Level on the building’s 30th floor is home to a Grand Salon lounge and bar area, a Grand Dining Room that fits 24 guests, a catering kitchen and chef’s table, a private screening room, and a media room.

The purchase price of Ridinger’s unit was not disclosed. However, Elysee’s 100-half floor and full-floor residences’ prices range from $1.8 million to $10 million, with floorplans from three to six bedrooms that measure between 2,200 and 6,600 square feet. Similar properties to Ridinger’s in the building’s “middle tier” go anywhere from $2.9 million and $3.6 million.

Elysee’s exclusive sales and marketing partner, Douglas Elliman Development Marketing, represented the property’s developer, Two Roads Development, and Ridinger in the transaction.

“We’re thrilled to welcome the Ridingers to Elysee in Edgewater, where the new Miami lives,” said developer Reid Boren, managing partner at Two Roads Development. “We’re continuing to see buyers attracted to the size of our units and the privacy of a boutique building. Plus, our personalized concierge services are especially attractive to buyers like Loren who travel frequently and would benefit from a full-service lifestyle building.”

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

Oasis Hallandale Reveals New Renderings For 10-Acre Mixed-Use Development

Oasis Hallandale is a new multi-block district of residences, shops, restaurants, urban parks, and offices designed by Bernardo Fort-Brescia of Arquitectonica that will soon become a pedestrian-friendly city center to the city of Hallandale Beach. The development is located at 1000 E Hallandale Beach Blvd. Hallandale Beach and is estimated to be completed in 2025.

Oasis Hallandale will combine a live, work, and play lifestyle and community with boating, the nearby beaches, Gulfstream Park, the Hollywood Beach Boardwalk, Aventura Mall, Seminole Hard Rock Hotel & Casino, and the Fort Lauderdale-Hollywood International Airport all in one prime location.

“We are thrilled to play such a significant role in the growth of the city by delivering such a beautifully-designed core development to Hallandale Beach,” said developer Giuseppe Iadisernia, founder of Hallandale Oasis 2019 LLC, who purchased the 10-acre site in 2015. Iadisernia recently revealed new designs for the mixed-use concept to showcase the commercial and residential vision of the project. “This concept will elevate the city’s social spaces and offerings for residents and visitors alike.”

The residential portion will be made up of 500 multifamily units in two 25-story residential towers. Residences will range from 1-3 bedrooms and 891-1,843 square feet and will be equipped with floor-to-ceiling windows, walk-in closets, imported Italian cabinetry, stainless steel appliances, and balconies with glass railings. Residents will be able to enjoy luxury-level amenities that will fit any needs, such as a golf simulator, indoor and outdoor movie theatres, a fitness and wellness center, a yoga lawn, a ping-pong room, a mini soccer field, storage, a barbecue and fire pit areas and pet park, a splash-pad for children, poolside cabanas and 24-hour lobby attendants.

Oasis Hallandale will have five buildings dedicated to commercial spaces, with 59,219 square feet of retail and restaurant space, 34,691 square feet of office space, and 1,486 parking spaces. Lush, green urban parks will decorate the area throughout, making it a perfect location for public gatherings.

“The interest from the community has been tremendous,” said Norma Campos, Sales Director of Oasis Realty company, the in-hour real estate firm that is exclusively handling all sales. “This project is delivering an iconic centerpiece for this beautiful destination, offering the walkability and convenience that people are looking for while remaining close to the beach.”

Oasis Hallandale’s state-of-the-art spaces are attracting many eager tenants. Sales were launched for the first two buildings of the commercial phase, with 60% of spaces already under reservation. The sales launch for the entire project is scheduled to follow later this year.

David Beckham purchases $20 million condo at One Thousand Museum in Downtown Miami

Former soccer player David Beckham and his wife Victoria Beckham have just recently purchased a new condo at the Zaha Hadid-designed One Thousand Museum, a 62-story building complete with its own private rooftop helipad. This will be their new home in Miami. 

One Thousand Museum is located at 1000 Biscayne Boulevard in Downtown Miami and officially opened in August 2019. David Beckham’s publishing and licensing company, Beckham Brand Limited, closed on the 11,046 square-foot, full-floor penthouse - one of the ten in the building - this Tuesday for $20 million, or $1,810 per square foot, a price that is much higher than the $1,392 per square foot that another penthouse in the building recently closed.

Robert Hite, a real estate agent at ONE Sotheby’s International Realty, brokered the deal.

“Iconic design, sophisticated lifestyle, privacy, and security are among the key factors driving our clients to make One Thousand Museum their Miami base,” said the development team of One Thousand Museum. “We know Mr. Beckham and his team will be very happy here.”

The Beckhams and their four children will have access to the luxe lifestyle and exclusive amenities offered by One Thousand Museum, including an indoor lap pool, a Spa with relaxation pods and private treatment rooms, a private Beach Club, a house car service, a 1KM wellness center, and a Sky Lounge with curated seasonal menus.

“With the launch of Inter Miami CF, David and his team are spending significant amounts of time in Miami. One Thousand Museum is a very special building and we are excited to join the community there,” said a spokesperson for David Beckham.

By Isabella Zimmermann  

Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

South Florida developer Shoma Group has announced that they have closed on a $17.6 million construction loan for Ten30 South Beach. The loan was provided by New York-based ACRES Capital Corp.

“We are very proud to secure construction financing with ACRES Capital for Ten30 South Beach as we step closer to delivering this compelling project to Miami Beach,” said Masoud Shojaee, CEO of Shoma Group. “Especially in today’s current climate, this closing is an endorsement of the market appeal of Ten30 as we continue our forward momentum bringing this attractive proposition to the Miami Beach market.”

Already under construction, Ten30 South Beach is a moderately priced, yet elegantly designed luxury retreat away from the high-rise condominium projects that have priced domestic buyers out of South Beach. Rising four stories, Ten30 South Beach will offer a curated collection of just 43 condominiums including studios, one- and two-bedroom units with expansive terraces and stylish interiors priced from the $400,000’s with low association fees of less than $400 per month.

“It has been a pleasure to work with Masoud and his team throughout the iterations of this project to bring this unique offering to Miami Beach,” said Michael Horowitz, of Cooper Horowitz, who arranged the financing on behalf of Shoma Group. “ACRES Capital immediately recognized the niche in the market that this product would serve and efficiently pursued and concluded the financing despite the current economic climate. It was a collaborative effort from start to finish, and we look forward to watching this project succeed.”

The significant project milestone comes on the heels of the project’s recent financing program announcement, which hopes to make luxury more attainable to domestic buyers by lowering the initial deposit requirement to 15%. Current financing programs also make it possible for qualified domestic buyers to attain up to 97% financing with the excess of the 15% deposit amount being used to cover closing costs, pre-paid items and possibly a portion of the original deposit being refunded to the buyer at closing. For domestic buyers looking to make the move to an exclusive yet sometimes elusive beach address, this could put Miami Beach living within reach.

“The Ten30 South Beach project was an attractive origination opportunity due in part to its targeted segment of the highly desirable South Beach market,” said Mark Fogel, ACRES President and Chief Executive Officer. “Its attainable price point and low common charges for each unit will accommodate a variety of residents, including local buyers looking to buy their first home, empty-nesters that are downsizing or those relocating from states with higher taxes. This wide appeal is augmented by strong, local sponsorship in Shoma Group, which will ensure that the property’s business plan is adeptly executed.”

Exclusively marketed and sold by Fortune Development Sales, Ten30 South Beach includes a myriad of upscale amenities including an expansive 6,000 SF rooftop deck with a rosé-colored pool, lounge, and outdoor kitchen area complete with barbecue and yoga space. Residences come with covered parking. With state-of-the-art technology and high-end finishes, each residence will offer sophisticated technology, including the Samsung Family Hub refrigerator, which allows residents to send messages, order Uber rides, play music or see inside their fridge and browse the internet for recipes using available ingredients. Italian-designed chef caliber kitchens, Bluetooth enabled keyless entry with cameras that offer complete control through a homeowner’s mobile phone, and spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.

Ten30 offers residents the style and prestige of an exclusive address surrounded by premier shopping, dining and dazzling attractions of Miami Beach. The famed Lincoln Road shopping district is just minutes away as well as top dining experiences at Sunset Harbor. Ten30 is also conveniently located steps from Flamingo Park, where residents can enjoy several activities including a state-of-the-art aquatic center, Bark Park, baseball and football stadiums, basketball and racquetball courts, soccer and softball fields in addition to a tennis center and children’s playground.

For more information about Ten30, private showings or purchasing/ leasing information please fill out the form below: