Landau Properties Breaks Ground on Kobi Karp-Designed Indian Creek Residences & Yacht Club

Landau Properties has broken ground on Indian Creek Residences & Yacht Club, the highly anticipated new residential development transforming the south shore of Miami’s Bay Harbor Islands. The groundbreaking comes on the heels of the development setting a new price record for the most expensive condo sale on Bay Harbor Islands after the penthouse, which was listed for $12 million, sold for an undisclosed price.

Landau Properties founding executives Jonathan Landau, DC Lowinger and Yaeli Lowinger were joined by Linda Zarifi, Founder of Zarifi Design, Kobi Karp, Founder and Principal of Kobi Karp Architecture and Interior Design, OFFICIAL co-founders Richard Jordan, Andrew Wachtfogel and Oren Alexander, Menachem Kranz, and executives from Civic Construction, the project’s general contractor, and BridgeInvest, who provided the building’s $29 million financing package.

“Reaching this momentous milestone marks a significant stride towards the realization of this visionary development,” said Jonathan Landau, Founder and CEO of Landau Properties. “Indian Creek Residences & Yacht Club seamlessly blends the most sought-after waterfront location and amenities with cutting edge architectural design. We’ve created a unique product that has captivated the market and continues to see great success.”

Designed by Miami-based architect Kobi Karp with interiors by the acclaimed Zarifi Design, the curvaceous building will serve as a counterpoint to Miami’s collection of tall, boxy towers by referencing Bay Harbor Islands’ history of mid-century modern design. The eight-story waterfront building is home to nine luxury condominiums and six yacht slips, one of the only private yacht clubs in the area. Providing a sought-after opportunity for waterfront views of the coveted Indian Creek Island and Country Club, the half-floor, full-floor and duplex homes boast unobstructed waterfront views, best-in-class finishes and spacious interiors that range from three to five bedrooms and span up to 5,600 square feet.

“This is a building unlike anything else on the market on the Bay Harbor Islands, so it’s no surprise buyers from across the country appreciate the opportunity to own the best new full-service condo in this jewel like pocket of Miami,” said Andrew Wachtfogel, Co-Founder and President of New Development for OFFICIAL, the exclusive sales and marketing firm for the development. “Interest has been incredibly robust, and we’re excited to continue on that path with construction now underway.”

Complementing the expansive residences, Indian Creek Residences & Yacht Club will offer a resort-style amenities package for residents. In addition to the yacht club complete with dockmaster concierge services, the curated amenities include a world-class spa with treatment rooms, state-of-the-art fitness center, outdoor yoga lawn, flexible entertainment lounge with high-fidelity sound system and bar, and landscaped rooftop terrace with a pool, dining area, outdoor kitchen and screening pavilion. The building also offers a full-time doorman, resident concierge and 18 private parking spaces.

Pricing begins at $5.6 million for a half-floor home.

Renderings via Williams New York

Fortune International Group and Château Group Launch Sales of North Tower at The St. Regis Residences, Sunny Isles Beach, Miami

The St. Regis Residences, Sunny Isles Beach, Miami, has launched sales of the much-anticipated North Tower, marking another milestone following the success at 80% sold South Tower, which started converting reservations to contracts in May of 2023. The launch of the North Tower also follows closely on the heels of the sale of a $55 million penthouse in the South Tower, introducing a new opportunity for buyers in this highly sought-after property. The total sellout of The St. Regis Residences Sunny Isles Beach, Miami equates to nearly $3 billion. The project broke ground in September 2023.

The St. Regis Residences, Sunny Isles Beach, Miami, will be the tallest residential property on the ocean in South Florida, with the North Tower rising 750 feet tall. Developed by Fortune International Group and Château Group, and managed by St. Regis Hotels and Resorts, the Residences are situated along 435 linear feet of immaculate beach, offering infinite ocean views. The North Tower will feature 170 residences spanning up to 5,500 square feet and include two, three, four, and five-bedroom residences, along with exquisite, two-story, full-floor penthouses with private pools. Both towers provide amenities offerings exclusively for the use of tower residents. The North Tower’s amenities encompass an expansive lobby, pickleball and padel courts, a fitness center, a therapeutic wellness pool, kids’ and teens' clubs, private lounge areas, and more.

"The remarkable sales achievements of the first phase of The St. Regis Residences, Sunny Isles Beach, Miami have created significant momentum for the property, propelling us into this exciting new phase,” said Edgardo Defortuna, President and CEO of Fortune International Group. “With substantial high-profile sales already in the South Tower, we are confident that the North Tower will continue this upward trajectory, appealing to buyers in search of the distinctive resort-style lifestyle in Sunny Isles Beach."

“As the tallest residential property on the ocean in South Florida, The St. Regis Residences, Sunny Isles Beach, Miami, stands as a global magnet for discerning buyers. The appeal lies within its luxurious amenities and exceptional St. Regis service, which attracts buyers from around the world,” said Manuel Grosskopf, CEO of Château Group. “The North Tower will provide residences with a resort-like feel that defines the Sunny Isles Beach location and deliver the elevated lifestyle available to all future residents.”

Along with exclusive amenities, North Tower residents will enjoy access to an extensive, property-wide amenity suite totaling over 70,000 square feet, curated to cater to every desire. These include a private Beach Club with direct ocean access, three ocean-facing pools with cabanas, and a Sunset Pool Deck featuring an infinity edge style pool. Residents have the option to entertain either in the oceanfront terrace dining and lounge events space of the Residents Club or in the Ellipse Club, which boasts a cognac room, wine bar, and gaming rooms. Unparalleled, 24/7 St. Regis Service is incorporated throughout the property, including their signature butler service, ensuring a seamless living experience for residents.

The visionary architecture firm Arquitectonica, paired with interiors by celebrated São Paulo-based designer Patricia Anastassiadis and landscape design by EDSA shape the towers, providing an elevated lifestyle in Sunny Isles Beach, one of South Florida's most sought-after residential locations. Positioned between the Atlantic Ocean and the Intracoastal Waterway, Sunny Isles Beach offers a unique blend of resort-like tranquility and the cultural vibrancy of city living.

PROFILE Exclusive with Developer of Jem Residences Miami Miki Naftali of Naftali Group

PROFILEmiami had the opportunity to sit down with legendary real estate developer and investor Miki Naftali of Naftali Group to discuss his career and first project in Miami, the recently launched Jem Residences Miami. Miki Naftali is the Chairman and CEO of Naftali Group which he established in 2011. Over the course of his 35-year career in the global real estate industry, Miki has acquired, developed, and managed over $15 billion and 31 million SF in real estate assets across North America, Asia, Europe, and the Middle East. In New York City alone, he has assembled a seminal portfolio of 25 luxury condominiums encompassing over 1,900 residential units, as well other notable projects, including luxury apartment buildings and mixed-use properties.

Now, Miki has turned his sights on Miami where he recently launched JEM Residences Miami in Downtown Miami’s Miami Worldcenter neighborhood. This dynamic condominium development will rise over 700’ tall, 67 stories, and is set to become a landmark focal point within the city’s iconic Miami Worldcenter. JEM Residences Miami will feature 259 condominiums with a private 50th floor amenity suite designed to compete with any high-end luxury hotel, offering a diverse array of meticulously curated indoor and outdoor spaces to cater to various activities.

PROFILEmiami joined Miki at the Jem Residences Sales Gallery to learn about his career and why he set his sights on Miami to develop his next project:

[PROFILEmiami] Where did you grow up? Give us your background? How did you get involved in real estate? Tell us about your first deal?

[Miki Naftali] I moved to the U.S. in 1987 to attend the University of Southern California to pursue a degree in industrial engineering management. While going to school, I became a property manager in order to help pay my bills. My early exposure to real estate deals involved searching for rental buildings to purchase, a task I learned myself through a combination of on-the-ground exploration and common sense. My breakthrough came when I successfully identified a property for acquisition, earning my first real paycheck. I knew that I had found my passion. After spending time in Los Angeles, I returned to Israel in 1992, where I started to work as a project manager and quickly moved up the chain to senior project manager to later become CEO of a small real estate company working on various projects including residential, hotels and office buildings. My signature project at the time was a 44-story mixed-use tower in Tel Aviv, one of the tallest buildings in the city. In 2000, I made a pivotal move to New York, marking a significant chapter in my real estate career.

[PM] What was your first major development?

[MN] From 2000 to 2004 I developed several very successful residential projects in New York City. In 2004, I acquired the famous Plaza Hotel – a renowned New York landmark and one of the most recognizable brands worldwide – for $675 million. After a well-planned $450 million major gut renovation of the one million, 100-year-old building, The Plaza was transformed into the most luxurious mixed-use building. It includes 180 private residences which all sold at a record-breaking price, 152 hotel condominium suites for sale, 131 over-sized hotel rooms and 160,000 square feet of retail space that houses ultra-luxury boutiques and North America's first luxury food hall. The Plaza's world-famous interior venues were restored to their original grandeur, and the project was completed in late 2007.

[PM] When did you found Naftali Group? Give us the background on the firm.

[MN] In 2011, I founded Naftali Group after developing major projects in New York, Los Angeles, Toronto, Montreal, and Singapore as well as taking our Canadian arm public and serving as the chairman of the board. I decided it was time to start my own company and focus my energy and time on designing and developing great buildings that are financially sound, instead of splitting my time dealing with public markets. Naftali Group was founded with a passion to be the best in class. We work with the most talented designers, engineers, brokers, and in-house executives, always pushing the boundaries and standards, and delivering high-quality results in all different market types.

[PM] Naftali Group has built quite an impressive record in NYC, can you tell us what have been some of the keys to your success?

[MN] We have always stood by our product and provided the highest quality possible for each development we deliver. Our company builds projects with timeless designs and great locations based on buyer demand. We prioritize listening to our buyers and delivering on their needs. It’s a simple formula in theory, but few can make good on these promises. That is what sets us apart; the ability to consistently create quality projects, time after time. We also have a strong team that is meticulous and detail oriented. From conversion to ground-up new construction, we have a rare ability to bring together talented teams to realize ambitious goals. Ultimately, our customers are what matter the most. In one of the most competitive and advanced real estate markets in the world, our customers have chosen to buy and rent our apartments even before our projects are completed, which is a testament to the quality of our work.

[PM] When did Miami come on Naftali Group’s radar? Tell us about the acquisition of the JEM property.

[MN] The decision to invest in Miami aligns with our company's strategy of expanding into premier geographic areas with strong growth potential and creating "best in class" developments at various price points. Miami has evolved tremendously over the past few years and the buyers have become more sophisticated and are seeking a better-quality product in residential apartments. The goal is to bring the expertise gained from global markets to South Florida, invigorating neighborhoods and setting a high standard for quality real estate products in the region.

[PM] Why was Downtown Miami and Miami Worldcenter so attractive to you?

[MN] Miami Worldcenter, located in Downtown Miami, is a well-known international hub that offers excellent walkability, making it an ideal location for development. The area is home to many entertainment and cultural institutions, including the Kaseya Center, Adrienne Arsht Center, Perez Art Museum Miami, Museum Park, and the Frost Museum of Science. Additionally, the neighborhood boasts a diverse range of dining options, high-end shops, and iconic waterfront, making it an attractive destination for both visitors and residents. For those seeking an urban lifestyle, the neighborhood offers plenty of transportation options without the need for a car. JEM Private Residences, strategically located near Brightline's Miami Central Station and metro-mover, make it easy to travel to various cities in Florida within Miami and other parts of the state. The project is also less than 10 miles from Miami International Airport, making travel in and out of the city convenient.

[PM] Tell us about JEM Private Residences, what makes this tower so unique?

[NM] We have collaborated with some of the world's most talented architects and designers to create an extraordinary building in Miami. Arquitectonica leads the building's design, Rockwell Group handles the interiors, and EDSA manages the landscape. The development is an urban oasis that boasts exceptional quality, craftsmanship, and construction that will stand the test of time.

JEM Private Residences is a 67-story building with 259 units ranging from 469 to 2,052 square feet. The condos start at the 43rd floor, offering breathtaking views of the Miami skyline, Biscayne Bay, and Atlantic Ocean. The building's top floor comprises 10 penthouses, with some having their own private outdoor pools. Amenities include the JEM Club on the 50th floor, which features a Sky Deck with a 60-foot pool, jacuzzi, and custom sculpture.

[PM] How is developing real estate in Miami different from New York City?

[MN] I joke that we thought it was difficult to get approvals and permits in New York, but Miami is even more difficult. Jokes aside, there are very different pre-construction processes in New York than Miami. The obvious is that we are able to sell much earlier in the process in Florida, which has allowed us to be creative and work alongside incredible partners here locally. While there are differences, what we do see is a shift in the type of product we are delivering in Miami. As more and more buyers come from New York to Florida, we want to be able to provide a product that appeals to the New York and international buyer. This is what has influenced our unit mix and make-up of this mixed-use development.

[PM] Your daughter Danielle works with you in an EVP role overseeing marketing and design, how special is it to share that family/work relationship?

[MN] Danielle learned the business from the bottom up, starting as a receptionist, moving to an administrative assistant in one of our sales offices, and learning every trick of the trade along the way before becoming our Executive Vice President of Marketing and Design. She is highly motivated, hard-working, and keeps pushing the quality of our work, so yes, it is special and rewarding to see the growth over time and it’s very helpful because I have more time to grow the business.

[PM] Besides real estate and work, tell us about some of your other hobbies?

[MN] Family and boating are my passions. I love being on the water, it is the only place I can relax.

[PM] Where can we find you in your day off? (Favorite restaurant, country club, boat, etc)

[MN] My days off are for either family or spending time on the water.

Image via PROFILEmiami | Renderings via Hayes Davidson

CRE Principals…You’re Leaving Money on the Table. A Lot of It.

Article By Matt Einheber, Principal at TitleEQ & Creator at TitleBox

Smart commercial real estate principals love finding the deal no one else knows about. 

Yet there’s an obvious deal out there that’s routinely being ignored - something that residential real estate brokers have been taking advantage of for years while CRE entities have been missing out. It’s a stream of impressive profits being left untouched, staring commercial principals in the collective face. By ignoring it, CRE entities have been leaving quite a bit of money on the table. 

Title and settlement services are not on the radar for most investors, sponsors, principals and other CRE decision makers. But for those willing to deploy the right joint venture, the opportunity for meaningful profits and a more streamlined operation can be huge.

You might be surprised at how big. Even smaller organizations can realize a passive seven-figure profit while simultaneously lightening their operational load. That said, it’s not an automatic win. There’s a lot to consider. 

Vetting an operational partner for a joint venture

Title is a deceptively complicated business to operate. It’s anything but simple and is critical in managing debts and liabilities against real estate, protecting value and managing a high risk and logistically complex transaction.  

Most title companies focus on residential transactions and don’t have the depth of knowledge to properly handle the more complex issues that are common to CRE. Very few have done much to make meaningful advancements in process, workflow and technology. In fact, it’s a bit of a surprise to realize how manual many title operations are… even some of the largest and best recognized in the space. 

These reasons alone should be enough to convince professional real estate buyers that the title or closing vendor should be vetted and chosen carefully. There’s a lot of value in deliberately choosing a title company to work with regularly. 

Introducing the prospect of a joint venture with a title operator usually brings up questions of compliance, profitability, operational competence, risk and more. Title is specialized enough that even most adjacent real estate pros don’t really know how to vet title firms or which common mistakes to avoid.

However, this choice brings with it risk with a disproportionately high reward. 

The title industry is still largely a dusty, antiquated space with a great deal of complexity in its operations (in spite of its continued reliance on manual processes). It takes an experienced operator committed to leveraging things like technology or third party service providers (where warranted) to maximize efficiencies and build optimal profit margins. Where that takes place, an affiliated closing operation not only provides the principal with greater control over the entirety of the transaction, but will super-sized profits as well. 

It's not just a simple matter of hiring the local title agency to build an affiliated arrangement. In many cases, moving without knowing how to properly vet your operating partner can be disastrous, and add time, tension and unnecessary expense (or delay) to your business. 

Here are the most important considerations to properly vet a potential title partner:

Experience and track record 

First, any operating partner you meet should, obviously, understand and have experience with title and closing. That sounds simple enough. They should also have significant supportive infrastructure. 

A big point is that the potential partner should be familiar with the markets in which your closings will occur. If you’re planning on closing deals not only in Miami, but in Port St. Lucie or Georgia or New York for that matter, be sure that your potential JV partner is an expert in the requirements and customs of those markets. Everything, including laws, rules, customs, workflow and dollars, can vary widely from not only state to state; but county to county and even city to city. 

Problem Solving

Potential JV partners should be the very best problem solvers. First principal thinkers. Investigators. Negotiators. 

It’s the job of your title representation to figure out how to ‘get to yes’ when it comes to negotiating with underwriters, lenders, buyers and sellers. 

If you’re an attorney or have ever been on the legal side of complex transactions, you’ll understand exactly what that means. The best title experts anticipate problems before they happen, create multiple possible solutions and know how to negotiate risk to protect you while delivering results. 

These people are invaluable to your attorneys and your organization at large. 

Technology and Solutions

There’s software to address almost every minor problem, but some of the biggest challenges come with choosing the right technology and best means of using it.  

It’s arguable that this is the single most common and biggest challenge for any business today in any industry. It requires determining what will help and what is a waste of money, then getting those otherwise disparate technologies to work fluidly together, first serving the client experience and then improving internal efficiency.  

This speaks to operational lift and profitability. 

Probably every business out there is wasting money on a platform or an app that’s just not helpful enough. I frequently encounter tech solutions to simple problems that amount to overkill.  The clunkiness of using multiple providers for a single process can be truly frustrating.

We all know that Proptech has been generally slow to catch up with other industries, and title is an exaggerated version of that. It’s not without reason, but times are changing. 

The best title JV partners serve as curators of the most effective technology. Because the closing process can vary so widely, there is no “universal” settlement platform or tech stack. The best closing firms build stacks that easily accommodate their clients’ needs as well as effectively addressing compliance requirements as well as market requirements.

At the same time, there are instances in which a title company is better served by leveraging efficient third party service providers to maximize efficiency and minimize expense. These operators also understand when it makes the most sense to make use of a national or centralized resource, and when using local expertise could actually create a smoother process. 

There are certainly problems technology can solve. There are many that are better served by humans, aided by the intel, focus and access that technology can deliver. Understanding how to find this balance, and keep the operation fluid and performing without getting distracted by shiny objects is the key.  Plus, the practice of continuously reviewing potential new solutions is something we should all value in our own businesses as well as with any new partner. 

Compliance 

As it relates to CRE, title insurance regulations fall under the jurisdiction of each state’s insurance department. 

Depending on the state, compliance can be reasonable and manageable, or can involve monthly/quarterly/annual audits, reporting, brick and mortar locations, data licensing by county, or other complicated requirements. 

Obviously, while making a play at profits, it simply isn’t worth risking your core business interests over legal matters. Choosing a JV title partner with solid compliance expertise and which has the resources to manage them is not optional. 

These are all factors to consider for CRE principals looking to capture additional revenue by controlling the closing process with an effective title JV. Those who aren’t sure where to start can begin by locating a seasoned title expert or third party consultant. It’s important that any “expert” understand how the principal works and what kinds of transactions and markets are most familiar to that principal. True “experts” also offer several options to consider, rather than leaning on one brand or firm for almost any situation.

Nobody intentionally leaves money on the table. Yet, for years, CRE principals have been happy to hand off an entire revenue stream to someone else’s “guy.” Perhaps that’s fear of the unknown. Perhaps too many principals simply don’t realize there’s true revenue to be had. The key is to partner with a firm that can build an operationally sound title organization and an efficient workflow. In doing so, CRE principals can potentially take what looks to be a pretty good year in the CRE market and make it great.

About Matt Einheber, Title EQ:

Matt is a principal of and the driving force behind TitleEQ, a national settlement services agency serving clients nationwide, and TitleBox, the developer of technology designed to streamline risk management in the title industry.

His experience with real estate transactions began in the early 2000’s in real estate finance, which led to settlement services and ultimately his move to start his first title company in 2005.

Since then, Matt has played an integral role in forging industry-shaping technology and business processes for the settlement and closing operations of title companies, underwriters, real estate brokers and agents across the country. Matt’s current focus is TitleEQ and its family of companies; the result of years of technology development and learned execution to approach real estate settlements in a way that’s very unique.

Reggaeton Artist Nicky Jam Sells One Thousand Museum Condo For $7 Million

Reggaeton artist Nicky Jam has sold his bayfront condo at One Thousand Museum by Zaha Hadid Architects in Downtown Miami’s Park West District 11 for $7 million. Nicky Jam acquired the residence at 1000 Biscayne Blvd in 2021 for $5.7 million at the ultra-luxury building which features only 84 private residences and six-star services. David Grutman, Marc Anthony and David and Victoria Beckham all live in One Thousand Museum where amenities include a world-class spa and fitness center, sky aquatic center, full service sky lounge and a rooftop helipad. Tony Rodriguez-Tellaheche of Prestige Realty Group was the listing agent representing Nicky Jam, whose real name is Nick Rivera Caminero, and Patricia Subiris-Gonzalez of Shelton and Stewart Realtors represented the buyer.

Residence 1602 is a stunning flow-through northeast corner unit with 4 beds + staff quarters and 5.5 baths spread over 4,600 SF. The half-floor residence includes the finest of finishes such as Poliform Kitchen, Gaggenau, Sub Zero, Dornbracht, Duravit, Apure lighting by Petzold and Crestron. The residences offers stunning bay, park and city views from every room and included 2 assigned parking spaces and 1 assigned valet space.

Images by Photostetic360

Inside the PROFILE South Florida Capital Markets Summit at E11EVEN Residences Miami

On Wednesday February 7, 2024 PROFILEmiami hosted its inaugural, sold-out South Florida Capital Markets Summit at the E11EVEN Residences Beyond sales gallery in Downtown Miami’s fast growing District 11 and Miami Worldcenter. The luxurious event featured PROFILEmiami’s highly regarded Bespoke Networking powered by E11EVEN Vodka and an engaging panel exploring the current state and future of how real estate in Miami is valued, financed, and transacted with South Florida’s top real estate and finance executives. The exclusive panel featured industry leading developers Dan Kodsi of Royal Palm Companies, Juan Pedro San Martin of Merrimac Ventures and financiers Raul Llanes of City National Bank, Michael May of Silverstein Capital and Justin Oates of Cain International; moderated by Matt Einheber of TitleEQ.

Panelists had a comprehensive discussion about the current capital stack in commercial real estate deals and explored strategies that sponsors can employ to optimize their capital structure. The discussion also delved into the market's underwriting standards and loan-to-value ratios, uncovering their influence on loan approvals; as well as a spectrum of financing options, from debt and equity to mezzanine financing and EB-5, and grasp typical terms offered. The industry leading panelist also shared stories about their past experiences and how they navigated their careers to get to where they are today.

Part of PROFILEmiami’s highly-regarded PROFILEconnect bespoke networking event series, the event brings together Miami’s real estate industry and business professionals to network and connect outside of a traditional business setting. Guests enjoyed E11EVEN Vodka and an open bar powered by Title EQ as well as Zeroe Plant Based Caviar.

Sky Penthouse At Aston Martin Residences Sells Complete With Aston Martin Miami Riverwalk Edition DBX

The final Sky Penthouse at the Aston Martin Residences has sold as the building nears completion. The iconic glass waterfront 69-story, 817’ tower is now an iconic part of the Miami skyline on the Miami River. Sky penthouse unit 5901 offers an unmatched 9,573 square feet of luxurious indoor living space spread over 4 bedrooms, 7 baths, plus 2 powder rooms. The buyer was represented by leading luxury real estate agent David Rocca of Ancona Real Estate.

The lavish residence also features a family room, staff quarters, and a gym. The penthouse offers total relaxation with an indoor pool, complemented by 3,324 square feet of outdoor terrace space, totaling an extraordinary 12,897 square feet. And as a crowning touch, the purchase of the residence will include its very own bespoke Aston Martin Miami Riverwalk Edition DBX.

Aston Martin Residences Miami is a luxury residential development on the waterfront in downtown Miami being developed by G&G Business Developments at 300 Biscayne Boulevard Way in Downtown Miami. The tower broke ground in October 2017 and is currently nearing completion. The one-of-a-kind Aston Martin-branded tower offers 391 residences which come in a variety of floor plans consisting of one to five bedroom floor plans in addition to the penthouse collection. The tower will feature 42,275 SF of sky amenities across four floors, including a double-level fitness centre overlooking the ocean, infinity pool, spinning studio, boxing gym, virtual golf room, art gallery, two cinemas, as well as a full-service spa, beauty salon and barber shop.

Follow David Rocca on Instagram @roccarealestate. He can also be reached at 310-977-7993 or at his website.

Terra and Sympatico Real Estate Launch Sales For Mr. C Residences West Palm Beach

Miami-based real estate development firm Terra and Sympatico Real Estate, a Palm Beach-based firm owned by the Morrison family, have launched sales for Mr. C Residences West Palm Beach. This 26-story luxury condominium hotel will mark the debut of a branded luxury development in Downtown West Palm Beach. Located at 320 Lakeview Ave., the lifestyle-driven property includes 110 hotel units alongside 146 spacious branded condos. The arrival of Mr. C Residences West Palm Beach signifies the prestigious brand’s entrance into the West Palm Beach market and represents Terra’s second project under the Mr. C brand. Douglas Elliman is leading the exclusive sales and marketing for the residences, priced from $1.5 million. The groundbreaking of Mr. C Residences West Palm Beach is slated for 2024, with an expected completion in late 2026.

“We are eager to extend the integration of hospitality and true, chic living into Downtown West Palm Beach’s rapidly expanding market. As major proponents of the area, we believe West Palm Beach is one of the top walkable neighborhoods in the country with unrivaled retail, dining, arts and culture at every turn,” said David Martin, CEO of Terra. “With the immense investment and recognition the neighborhood has received on a national level, the addition of Mr. C Residences West Palm Beach will be both a testament to the area’s potential for new and interesting luxury concepts and the answer to the growing demand for flexible, high-quality residences. We are delighted to once again partner with the esteemed Mr. C brand to execute this dynamic vision and bring a landmark project to Downtown West Palm Beach.”

Crafted by the acclaimed architecture firm Arquitectonica, featuring interiors and amenity spaces by Meyer Davis in partnership with Ignazio and Maggio Cipriani, and complemented by lush landscaping by Landscape Design Workshop, Mr. C Residences West Palm Beach is poised to establish a fresh standard of elegance, artistic design, attentive service, and unrivaled sophistication. The LEED-Certified building will include a selection of open floor plans ranging from one to four bedrooms and spanning 830 to 2,200 square feet. Every boutique space will feature soaring 10-foot ceilings, premium finishes and appliances, private outdoor terraces, and sweeping panoramic views of the city, Intracoastal, and ocean.

The building’s interiors will reflect the signature mix of classic European charm with stylish sophistication synonymous with the Mr. C brand. Mr. C, created by brothers Ignazio and Maggio, members of the fourth generation of the Cipriani family, is known globally for its expansive portfolio of restaurants, landmark event spaces, lounges, and residences. Since its first Mr. C Hotel opened in Beverly Hills in June 2011, Mr. C has been setting a new era in timeless yet contemporary hospitality, opening properties in New York City, with Mr. C Seaport, and Miami, with Mr. C Miami Coconut Grove. The company’s residential portfolio includes Mr. C Residences now underway in Coconut Grove, Miami and Jumeirah, Dubai.

“At its core, Mr. C represents a modern interpretation of old-world sensibilities. My brother and I are very proud to expand the presence of Mr. C Hotel & Residences to Downtown West Palm Beach, extending the storied Cipriani family experience to the city through this impeccable property. From signature spaces such as the Bellini Rooftop to a five-star level of service, the hotel and residences will be a true reflection and culmination of our family’s dedication to hospitality,” said Ignazio Cipriani, Co-Owner of Mr. C Hotels.

In addition to design, the Mr. C. brand will also be reflected through the dining and lounge offerings at Mr. C Residences West Palm Beach. These include a signature Bellini Café, a modern-day “pasticceria and confetteria” Bellini Restaurant, located on the 25th floor and offering authentic Italian favorites in an elegant setting, and an exclusive Bellini Rooftop Lounge, West Palm Beach’s premier private members club. Additionally, residents will have access to poolside food and beverage service, in-residence dining, and event catering all in line with the impeccable service of a Mr. C property.

Amenities at Mr. C Residences West Palm Beach include a garden-level lap pool with cabanas, a poolside bar and lounge area, Little C’s Outdoor Playground for children, a fully equipped fitness center, indoor spaces for yoga, Pilates and Peloton workouts, a signature spa with sauna and steam rooms, a well-appointed library and business lounge, and secure bike storage. The building features a dedicated porte-cochere entrance, a residential lobby with a lounge and private high-speed elevators, and captivated and curated art displays in both the lobby and outdoor public areas. Residents will enjoy an array of services, including a dedicated concierge, butler service, 24-hour valet and security team, complimentary towel service at the pool deck, access to a custom Mr. C Residences app, and the option for additional housekeeping and butler services.

“Mr. C Residences West Palm Beach is an elegantly designed and refined product situated in one of South Florida’s most prominent markets,” said Jay Parker, CEO of Douglas Elliman. “The property’s unique conceptual design, ideal location, and association with the storied elegance of the Cipriani name will propel its success among the area’s new wave of discerning buyers, setting an unprecedented benchmark for luxury in Downtown West Palm Beach. Drafting off of the wildly successful offering in Coconut Grove, Miami, Mr. C Residences is sure to be a powerful addition to the West Palm Beach market.”

Renderings via Binyan Studio

Inside The PROFILE Design Summit at Eichholtz Miami

On Thursday February 1, 2024, PROFILEmiami hosted its inaugural and sold-out PROFILE Design Summit, featuring architecture and interior design icons Kobi Karp, Louis Birdman, Will Meyer and Ralph Choeff. The evening took place at Eichholtz Gallery in Miami Design District and was attended by Miami’s top investors, developers, architects and designers as well as guests from all over the design world who flew in to experience PROFILEmiami’s highly regarded bespoke networking.

The panelists shared their experiences working in design and architecture not only in Miami, but across a global portfolio of projects. Louis Birdman of One Thousand Group discussed his experience working with Zaha Hadid on One Thousand Museum and how the project meant so much to her after missing out on the opportunity to design the Perez Art Musuem. Their tower now overlooks the museum and serves as one of the most iconic parts of Miami’s skyline. Will Meyer and Kobi Karp gave attendees insight on how to move your career in the design world to the next level and their experiences working with Barry Sternlicht on 1 Hotel South Beach. Ralph Choeff discussed designing homes with $70 million price tags and working with extremely high-end clients on these architectural masterpieces. Attendees were welcomed into the discussion with an extended Q&A session.

Guests had the opportunity to network with the design industry’s best as well as experience Iberico Ham by Modern Stones, Spankopita and Aysrtico wine by AGB Stones, a selection of sandwiches and bites by Pura Vida and Zeroe Plant Based Caviar. Guest also enjoyed custom cocktails by Brugal Rum and E11EVEN Vodka. On view was a very special custom curated art collection by celebrity art dealer Avery Andon of ArtLife featuring works by Andy Warhol, Keith Haring, Jeff Koons and Alec Monopoly. The night featured an hour of networking with sounds by local DJs DAKAP, followed by the panel discussion and Q&A. Other sponsors who participated included Quartzology, Disruptive Real Estate, Cryptic Air.

Watch the full panel on YouTube:

Mast Capital Locks Down Florida's Largest Residential Single-Tower Loan At $600 Million For Cipriani Residences Miami

Miami-based developer Mast Capital has secured a construction loan of $600 million, setting a new record for the largest single-tower residential construction loan ever obtained in Florida for Cipriani Residences Miami. The loan comes from Mexico-based Banco Inbursa and Ascendant Capital Partners, contributing $350 million and $250 million, respectively. The site is one of the last remaining raw parcels of land in Brickell and will serve as the southern gateway to Miami’s financial district.

Situated on the southern edge of Brickell’s business district, Cipriani Residences Miami will be the brand’s first-ever ground-up residences in the Americas. The high-profile condominium development, which is redefining luxury within the Brickell neighborhood, encompasses an 80-story luxury condominium tower with 397 residences offering spectacular views of Biscayne Bay, the Brickell skyline, and Coconut Grove. The site benefits from being located close to all the destinations within Brickell while also offering better accessibility and less traffic given its proximity to the lower density areas of Brickell to the South.

“The unprecedented financing we have secured for this transformative development anchored in Brickell is a testament to the demand for an ultra-luxury condominium product in this neighborhood. We have assembled the highest caliber of architecture, and design to execute this project and further solidify the position of Miami’s Brickell Financial District as a business and residential community,” said Camilo Miguel, CEO of Mast Capital. “Cipriani Residences Miami will transform the neighborhood and appeal to a wide variety of domestic and international residents, especially at a time when Brickell continues to experience robust growth fueled by the steady pace of wealth and business migration.”

While the influx of new residents to Miami, particularly the highly desirable Brickell neighborhood, seeking a cosmopolitan lifestyle, warm weather, and favorable tax environment is not new, this trend has dramatically accelerated since mid-2020 and is expected to continue over the years to come.

Mast Capital purchased the 2.8-acre site located at 1420 S Miami Ave. for $103 million in December 2021, which at the time represented the acquisition of one of the last remaining raw parcels of land in Brickell available to build a large-scale, high-rise development. The condominium tower is a signature Bernardo Fort-Brescia design by architecture firm Arquitectonica and world-renowned interior design firm 1508 London.

Starting at $1.7 million, Cipriani Residences Miami offers one- to four-bedroom residences ranging from 1,123 to 3,495 square feet, in addition to penthouses with private pools, with completion slated for 2028. As the crowned jewel of Cipriani Residences Miami, the Canaletto Collection will offer a boutique experience to residents that includes priority access to the tower’s private speakeasy and dining spaces, exclusive global concierge services and custom finish and furniture packages available for purchase, designed by 1508 London. The Canaletto Collection, which comprises six penthouses, will also feature direct elevator entry and a limited number of residences per floor appealing to discrete residents who prioritize privacy. Pricing for the penthouses starts at $17 million. The condominium will offer all residents exclusive access to around-the-clock dining services by Cipriani available in the private restaurant, 24-hour in-home dining and catering services. Dining services will extend to the elevated resort deck featuring multiple swimming pools, lounge and cabanas.

Residents will also have access to a fully equipped state-of-the-art fitness center, as well as a holistic spa including an ice plunge and sauna. The condo tower’s robust amenity package will also include a golf simulator, a pickleball court, a screening room, as well as a library and salon for beauty services. Residents will also have the convenience of a private dog park, children’s playroom and à la carte services like plant care, away-from-home maintenance, pet grooming and walking, luxury house limousine transport within a three-mile radius, in-residence spa treatments, personal training and more.

Mast Capital has emerged as one of Florida’s most active real estate development and investment firms today, with a diverse portfolio of residential, hospitality, and commercial properties throughout the State. The firm continues to expand its portfolio, with acquisitions representing over $3.5 billion in total project capitalization. These investments include new-build up development of over 4,000 residential units in South Florida, as well as the Fort Myers and Tampa metro areas.

Newmark arranged the transaction with a Debt and Structured Finance team led by Co-Presidents Jordan Roeschlaub and Dustin Stolly alongside Executive Managing Director Nick Scribani. Harry Silvera and Yehuda Auman of Gibson, Dunn & Crutcher LLP and Kimberly LeCompte and Eric Fisher of Greenberg Traurig P.A. served as legal counsel for the developer. Aron Zuckerman and Norian Watson of Cleary, Gottlieb, Steen & Hamilton LLP served as legal counsel for Banco Inbursa. Evan Kaufman and Andy Auerbach of Bryan Cave Leighton Paisner LLP served as legal counsel for Ascendant Capital Partners. Ilana Strickon of Holland & Knight served as legal counsel to both lenders. Sales and marketing for the condominium development is handled exclusively by Fortune Development Sales.

Renderings via Mast Capital