The Fasano Residences + Hotel

HFZ Capital Group will begin work on the renovation of the historical Shore Club on Miami Beach, transforming it into the Fasano Residences + Hotel Miami Beach. The redesign will result in a hotel residence under the Brazilian, Fasano brand, with 67 luxury condo units and 85 hotel rooms. The renovations and redesign are being headed by Brazilian architect Isay Weinfeld and will preserve the Shore Club's original art deco facade and 22 story central tower, original hotel lobby and most of the south tower. Units will range from 800 SF to over 4,000 SF. Morgans Hotel Group will close the existing 300 hotel room Shore Club this fall and completion of the Fasano Residences + Hotel is slated for 2018. HFZ Capital Group purchased the Shore Club in December 2013 for $175.3 million. 

Setai TH-A Relists for $14.9 Million

Photo via Zilbert

TH-A in the Setai Hotel has listed for $14.9 million, back on the market after dropping from $22 million 2013 and burning through several price breaks and listing agents. The oceanfront townhouse is 3,627 SF with 4 bedrooms, 4 bathrooms, 18 foot ceilings, and LED lighting system, a cantilevered glass staircase, 3 balconies and a private pool. The unique floor plan is the only oceanfront unit with double height ceilings, allowing for breathtaking beach and ocean views from the glass living room and two 800 SF oceanfront master suites. The unit is owned and redesigned by Doug Rogers and is listed with Jeff Miller of Brown Harris Stevens. Photos via Zilbert. 

Abae Hotel Nears Completion on West Ave.

West Ave. in South Beach has a new boutique apartment-hotel opening its doors just as the summer comes to a close. Abae Hotel South Beach will be a boutique hotel-residence targeted at young, modern, technology seeking guests. The hotel is full of modern features including state-of-the-art computer systems, automized reservation system, security door, etc. Abae Hotel claims “We’ve Cracked the Code to Comfort & Glamour." The contemporary building is nearing completion and plans to open by the end of August and is across the street from the Mondrian South Beach, which recently became part of Menin Hospitality's portfolio.

Menin Hospitality to Open Al's Diner in Iconic Former Firestone Service Station

Menin Hospitality continues to grow its footprint on Miami Beach as it has added yet another project to its rapidly growing portfolio. Al's Diner, a 24 our eatery with gourmet treats will replace the iconic Firestone service station at 1500 Alton Road that opened in 1939. The shop opperated as a car service station until early 2016. The announcement brings Menin to 15 projects under operation. Late July, the Miami Beach City Design Review Board approved a variance to convert the properties' zoning to mixed-use retail/ restaurant with outdoor café seating as well as take-out window. ARRP, an affiliate of Crescent Heights will fully restore the iconic cantilevered porte-cochère and the Firestone roof sign.

Spring Chicken coming to 1439 Alton Road

The popular new eatery Spring Chicken in Coral Gables is coming to Miami Beach. John Kunkel will open his new location in 1439 Alton Road, as will Lulu's Nitrogen Ice Cream Shop. Kunkell was able to get a 15 year master-lease on the 3 units in which he previously operation his BTW and Lime concepts. Kunkell calls Spring Chicken "Shake Shack meets Chick-fil-A." He will develop the property into a fast-casual haven complete with shared courtyards to eat. The restaurants should open in late August and early September. Spring Chicken has also recently opened in Fort Lauderdale as well.   

One Ocean

From Related Group, the developers that brought you the Murano, W South Beach, and Apogee, comes the new One Ocean South Beach: a peaceful oasis in the heart of South of Fifth that rivals its sister properties with its modern glass facade. The building will have 46 residences and four oceanside villas with unique living spaces that incorporate nature and art created by architect Enrique Norten. 
Typical units will include oversized balconies, private elevators, and an exclusive beach club membership. Residents can enjoy looking out at the zen garden from the state-of-the-art fitness facility or relax in private cabanas at the Infinity Edge pool. One Ocean South Beach is being designed so that every unit will have a unique, flow-through floor plan, so each will be a one-of-a-kind. The building offers three to five bedroom options which will typically be around 3,000 SF starting at $1000/SF. 

1212 Lincoln Road

A new mixed-use development is heading to Miami Beach's Lincoln Road, with an expected completion of 2017. The Miami Beach Design Review Board approved the long awaited plans after a 1 year extension as tenants relocated. The newly approved development will be a five-story building filled with a mix of a hotel, luxury retail and dining. The hotel will include 100 boutique hotel units across 45,000 SF with a European-style market in the 93,000 SF of retail space. The building will be designed by Perkins + Will and will help upgrade the existing aging infrastructure that currently makes up Lincoln Road. The project will help expand Lincoln Road across the street at 16th and Alton. Developer Crescent Heights has plans to build 2 more developments on Lincoln Road as this neighborhood gets an exciting shake-up.  

Menin Hospitality Enters Into Agreement to Manage The Mondrian South Beach Hotel & Residences

Menin Hospitality announced that The Mondrian South Beach Hotel & Residences would join its portfolio of Miami hot spots as management of the property would transfer from Morgans Hotel Group to Menin Hospitality. The hotel will keep the Mondrian name under a licensing agreement but Menin will add a new ballroom and has already updated and facelifted the pool and restaurant.  

This stylish 335 room hotel emulates old Hollywood glamour meets sophisticated modernism. The hotel got a $200 million renovation in 2008, charged by interior designer Marcel Wanders who aptly nicknamed his masterpiece “Sleeping Beauty’s Castle.” He mixed iconic black and white details like the laser cut floating staircase with gold, oversized fixtures to create a modern fantasy. Relax in the enchanting outdoor oasis of Mondrian that is enveloped by curtains of lush, green foliage. 

The Mondrian also uniquely offers residency, providing owners the opportunity to have the property managed by its hotel management group or rent out on your own via Airbnb.com. The high-turnover flexibility offers great returns for investors and high cap-rates. The condos offer full hotel service along with various discounts throughout the Morgan’s Group properties, and are move-in ready. They offer studios, one-bedrooms, and two-bedrooms with a bay view option starting at $271,000.