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Shay Kostiner Sells Star Island Lot For $10 Million

Shay Kostiner Sells 44 Star Island Lot For $10 Million

June 14, 2020

Shay Kostiner, managing director of Fifth Avenue Capital Partners, has sold his vacant lot at 44 Star Island for $10 million to Hartstone Investments. Techrin Hijazi of Brown Harris Stevens, who had previously co-listed the property, represented the buyer and seller in the transaction.

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In Acquisitions, Luxury Real Estate, Miami Beach, News, Residential, Sales Update, South Beach, Traded Tags Fifth Avenue Capital Partners, 44 Star Island, Shay Kostiner, DOMO Architecture + Design, Techrin Hijazi, Brown Harris Stevens, Sales Update, Traded, Closed, Acquisitions, Hartstone Investments, Luxury Real Estate, News, Residential, Miami Beach, South Beach, Star Island, Featured
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A Major Retailer Just Vacated Thor Equities' 663 Lincoln Road

A Major Retailer Just Vacated Thor Equities' 663 Lincoln Road

June 9, 2020

COVID-19’s impact on commercial real estate is beginning to show its ugly wake. In late April Steve Madden reportedly notified Thor Equities, led by founder and CEO Joseph Sitt, that they would not be renewing their 2,269 SF lease at 663 Lincoln Road, which represents roughly 45% of the building.

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In Commercial, Invest, Investment News, Leasing, Leasing Update, Miami Beach, News, Retail, South Beach, Finance & Banking, Private Equity Tags Thor Equities, Joseph Sitt, Tony Arellano, Devlin Marinoff, DWNTWN Realty Advisors, Commercial, Retail, COVID-19, COVID19, COVID, Leasing, Leasing Update, Investment News, Invest, News, Lincoln Road, Miami Beach, South Beach, Featured, CMBS, Lending, Pizza Rustica, 663 Lincoln Road, 605 Lincoln Road, 667 Lincoln Road, Private Equity, Financing, Finance, Finance & Banking
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MiamiBeachMonorailConsortium.jpg

Meridiam Becomes Lead Investment Partner in Miami Beach Monorail Consortium’s Beach Corridor Plan 

May 13, 2020

The Miami Beach Monorail Consortium has announced that the global infrastructure investment firm Meridiam has become the lead investment partner for the Consortium’s proposed mass transit monorail that would connect Downtown Miami and Miami Beach.

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In Invest, Investment News, Miami Beach, News, South Beach, Transportation, Travel, PortMiami, Downtown Tags Public Transportation, Transportation, Miami Beach, South Beach, Strategic Miami Area Rapid Transit Beach Corridor Plan, SMART, News, Miami Beach Monorail Consortium, Port of Miami Tunnel, Christopher Hodgkins, Genting Group, Aqualand Development, Jamie Rubin, Meridiam Infrastructure North America Corp., United Nations Sustainable Development Investment Partnership, Macarthur Causeway, Investment News, Invest, Travel, Isabella Zimmermann, Downtown, Downtown Miami
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Gianluca Vacchi, Italian Millionaire Turned Instagram Sensation, Lists Sunset Harbour Penthouse In Miami Beach

Gianluca Vacchi, Italian Millionaire Turned Instagram Sensation, Lists Sunset Harbour Penthouse In Miami Beach

May 2, 2020

Instagram dance celebrity Gianluca Vacchi has listed his Sunset Harbour penthouse in Miami Beach. From a successful multimillion dollar packaging and machinery company to an Instagram sensation with over 14 million followers going by the title of being a “Pop Artist of a Global Lifestyle.”

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In Celebrity Real Estate, Featured Listing, Luxury Real Estate, Miami Beach, News, Residential, South Beach Tags Luxury Real Estate, Featured, Featured Listings, Featured Listing, News, Miami Beach, South Beach, Celebrity Homes, Celebrity Real Estate, 1800 Sunset Harbour, 1800 Sunset Harbour TS2, Douglas Elliman, Dina Goldentayer, IMA Group, Luxury Condo, Residential, Sunset Harbour
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Fontainebleau Miami Beach's $975 CMBS Loan Entered Special Servicing March 30

Fontainebleau Miami Beach's $975 Million CMBS Loan Entered Special Servicing March 30

April 22, 2020

The $975 million commercial mortgage-backed security loan (CMBS) issued in November 2019 for the 846-room Fontainebleau Miami Beach, located at 4441 Collins Ave., entered special servicing on March 30. When issued the loan was the largest CMBS hotel loan in South Florida.

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In Commercial, Hotels, Invest, Investment News, Finance & Banking, Miami Beach, News, South Beach Tags Fontainbleau, Fontainbleau Development, Fontainebleau, Fontainebleau Miami Beach, Fontainebleau Development, CMBS, Mortgage, Banking, Financing, Finance, Finance & Banking, Special Servicing, Hotels, Hotel, Commercial, News, Investment News, Invest, Jeff Soffer, Jeffrey Soffer, Turnberry Associates, 4441 Collins Ave., Miami Beach, South Beach, Featured
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Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

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

March 27, 2020

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.

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In Construction News, Construction Update, Construction, Finance & Banking, Miami Beach, New Construction, News, Residential, South Beach Tags Shoma Group, News, Construction News, Construction Loan, Construction Update, Ten30, Ten30 Condo, Ten30 South Beach, Masoud Shojaee, Financing, Finance, Finance & Banking, Banking, Lending, ACRES Capital, Cooper Horowitz, Michael Horowitz, Mark Fogel, South Beach, Miami Beach, New Construction, Residential
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Beaches in Miami-Dade County have been closed.

Beaches in Miami-Dade County have been closed.

Tracking COVID-19 By The Numbers: Breaking News In South Florida

March 27, 2020

(Last Updated 6:14 AM 3/27/2020):

BREAKING: 

  • City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)

  • Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)

  • All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

Continue to check back for updates to below as we continue to track COVID-19 across South Florida:  

Stats:

  • Number of Cases in Florida: 830+ (3/23/2020)

  • Fatalities in Florida: 13+ (3/23/2020)

  • Number of Global Cases: 351,000+ (3/23/2020)

  • Global Fatalities: 15,321+ (3/23/2020)

  • Number of U.S. Cases: 35,075+ (3/23/2020)

  • Fatalities in the U.S.: 458+ (3/23/2020)

Miami-Dade County:

  • Miami-Dade County # Cases: 2900+ (3/27/2020)

  • BREAKING: Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)

  • CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)

  • Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)

    • All bars and nightclubs will be closed for 30 days.

    • Restaurants will only be able to operate at half capacity.

    • Exceptions granted if they have a capacity of 10 people or less.

    • Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.

  • Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)

    • Miami-Dade Public Schools have closed this week and next. (3/16/2020)

  • Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)

  • Officials have closed the beach from 5th to 15th Street, including Lummus Park.

  • All city parking garages are closed to non-residents.

  • In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)

    • Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.

  • An entertainment district curfew will go into effect at 11 p.m.

  • All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.

  • Ultra Music Festival has been cancelled.

  • Miami Music Week has been cancelled.

  • ArtScape Concert has been cancelled.

  • The Miami Open Tennis Tournament has been cancelled. 

  • University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)

  • University of Miami Spring Commencement postponed until December. (3/20/2020)

  • The Hardrock Seminole Hotel & Casino has suspended entertainment operations. 

  • Calle Ocho Festival has been cancelled.

  • Mayor Francis Suarez has confirmed that he has COVID-19.

Broward County:

  • Broward County # Cases: 180+ (3/23/2020)

  • Broward County Public Schools are now closed through at least April 15. (3/19/2020)

  • Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.

  • Restaurants and bars must close by 10 p.m.

  • Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.

  • The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.

  • The Wharf Fort Lauderdale is closed until further notice.

  • The listed measures will remain in effect until April 12.

Palm Beach County:

  • Palm Beach County # Cases: 59+ (3/23/2020)

  • Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)

  • Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)

  • Beaches will be closed on Tuesday 3/17/2020

  • Nursing Homes and Assisted Living Facilities are closed to visitors.

  • Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)

National:

  • BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.

  • United States of America # Cases: 35,075+ (3/23/2020)

  • United States of America Fatalities: 458+ (3/23/2020)

  • Income tax filing deadline moved to July 15 (3/20/2020)

  • Foreclosures and HUD evictions have been halted for 60 days.

  • CDC recommends ban on gatherings of 10+ people. 

  • The Players Championship was cancelled & PGA Tour is suspended.

  • NBA, NHL, MLB and MLS have suspended their seasons. 

  • All ski resorts have closed.

In Affordable Housing, Brickell, Closed, Commercial, Community, Construction, Construction News, Downtown, Education, Fort Lauderdale, Hospitality, Hotels, Key Biscayne, Market Report, Miami Beach, Miami-Dade County, Multifamily, N Miami Beach/ Aventura, New Construction, News, North Miami, Palm Beach, Palm Beach County, PortMiami, Public Health, PSA, Restaurants, Retail, Senior Living, South Beach, Travel Tags COVID-19, COVID19, Coronavirus, Mayor Carlos Jimenez, Mayor Francis Suarez, Featured
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Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

March 21, 2020

Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. The announcement comes as Miami’s next step in curbing the spread of COVID-19 which has now surpassed 560 cases in Florida and over 123 in Miami-Dade.

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In Hotels, Hospitality, Miami Beach, Miami-Dade County, News, Public Health, South Beach, Brickell, Downtown, Doral, Sunny Isles, Coral Gables Tags Miami Beach, South Beach, News, COVID-19, COVID19, COVID, Coronavirus, Public Health, Mayor Dan Gelber, Miami, Miami-Dade County, Jimmy Morales, Carlos Gimenez, Coral Gables, Downtown, Downtown Miami, Sunny Isles, Sunny Isles Beach, Brickell, Featured
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Art Deco Condo In Apogee South Beach Hits The Market For $16.95 Million

Art Deco Condo In Apogee South Beach Hits The Market For $16.95 Million

March 10, 2020

An Art Deco-designed unit at Miami Beach’s most prized condominium, Apogee South Beach, has hit the market for $16,950,000 with Bill Hernandez & Bryan Sereny of Douglas Elliman. Unit 2004 is owned by a Swiss investor and entrepreneur who selected French architect and interior designer, Michel Gamard, to design the unit.

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In Featured Listing, Luxury Homes, Luxury Real Estate, Miami Beach, Residential, South of Fifth, South Beach Tags Douglas Elliman, Apogee, Apogee South Beach, Michel Gamard, Miami Beach, Luxury Real Estate, Luxury Homes, Luxury Condo, 800 S Pointe Drive, 800 S Pointe Drive 2004, Bill & Bryan Team, Bill Hernandez, Bryan Sereny, Residential, South of Fifth
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The Grand Hyatt Selected as Flag for New Miami Beach Convention Center Hotel

February 24, 2020

The development team behind Miami Beach’s new Convention Center hotel announced today that the 800-room property will be operated by Hyatt under the luxury Grand Hyatt brand, when it opens to guests in 2023. Grand Hyatt Miami Beach will create a new hospitality option for visitors attending events at the adjacent Miami Beach Convention Center, which underwent a $600 million renovation that was completed last year, and will anchor the Convention Center District.

The new hotel will become the second Grand Hyatt property in Florida, joining Grand Hyatt Tampa Bay. Grand Hyatt hotels are designed to connect guests with iconic experiences, landmarks and cultural touchstones in captivating destinations around the world. Hallmarks of the brand include bold and vibrant design and architecture, elevated amenities and welcoming service that creates moments of more.

The hotel development is being led by David Martin of Terra and Jackie Soffer of Turnberry, whose plans for the hotel were overwhelmingly approved by Miami Beach voters in 2018. The 17-story hotel will be situated at the intersection of 17th Street and Convention Center Drive, within walking distance of the beachfront, Lincoln Road Mall, New World Symphony, The Bass Museum and The Fillmore Miami Beach.

“For years, Miami Beach has served as a global destination for arts, culture, shopping, dining and entertainment, but the City has lacked a true headquarters hotel for top-tier conventions and meetings,” said Martin and Soffer. “South Florida’s first Grand Hyatt hotel will maximize Miami Beach’s investment in its re-imagined Convention Center while bridging the physical gap that exists between the Convention Center District and surrounding neighborhoods.”

 Grand Hyatt Miami Beach will be designed by architect Bernardo Fort-Brescia and his firm, Miami-based Arquitectonica. The development team also includes partner Craig Robins of Dacra, who is the visionary behind the Miami Design District and helped revive Miami Beach’s Art Deco District in the 1990s; Stonehill Taylor, which is designing the hotel’s interior lobby and lounges, ballroom and meeting rooms, hotel rooms and all common areas; EOA, which is designing the pool deck hospitality features of the hotel; and Arquitectonica GEO, which is creating lush pedestrian promenades and landscapes.

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Hotel features are expected to include 12 floors of guest rooms offering views of Miami Beach, two floors of meeting spaces and ballrooms that will complement the Convention Center, a resort-style pool deck with panoramic views, and limited retail space that will activate the district at street level. An elevated skybridge will enable event attendees to move freely between the hotel and Convention Center in a climate-controlled, art-filled corridor. 

Plans also include landscaped pedestrian promenades on surrounding streets, bike sharing stations, connectivity with public transit routes, dedicated ridesharing pick-up and drop-off zones, and direct access between the Convention Center and Lincoln Road. The project’s resiliency and sustainability measures include storm water management and reuse, flood risk mitigation, and the use of solar power – all of which are designed to ensure operational continuity during weather events.

“The Greater Miami Convention & Visitors Bureau (GMCVB) joins Terra, Turnberry and The City of Miami Beach in welcoming the Grand Hyatt Miami Beach as the newly named brand for the 800-room headquarter hotel connected to the Miami Beach Convention Center,” said William D. Talbert, III, CDME, President of the GMCVB.  “Grand Hyatt Miami Beach makes it possible to better compete for citywide conventions which fuel jobs in our community and generates business for all of Greater Miami’s hotels and merchants. We look forward to the hotel ground-breaking which once completed will finalize the Miami Beach Convention Center District.” 


By Katya Demina

In City Owned Land, Commercial, Community, Construction, Government Contracts, Hospitality, Hotels, Miami Beach, New Construction, Public Space, South Beach, Travel Tags Grand Hyatt, Hyatt, Convention Center Hotel, Miami Beach Convention Center, Convention Center District, David Martin, Jackie Soffer, Bernardo Fort-Brescia, Arquitectonica, Craig Robins, Dacra, Stonehill Taylor, EOA, ArquitectonicaGeo, Greater Miami Convention & Visitors Bureau, GMCVB, William Talbert, Featured
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