Check Out The Bjarke Ingels-Designed Tower Terra Group Has Proposed For South of Fifth

Terra Group’s proposal to develop a 385’ Bjarke Ingels-designed tower at 300 Alton Road in Miami Beach’s South of Fifth neighborhood is headed to vote. The boutique tower would rise 30-stories and would feature 60 luxury residential units which would be sold as condos in addition to 45,000 square feet of commercial space. The project would have a total development size of 225,000 square feet and would be the first Bjarke Ingels-design in Miami Beach.

The project has been a hot-button topic over the past several months and the development team has been working with the community to present a design that would preserve view corridors and increase green space accessible by the public. The new proposal Led by David Martin, Terra Group is seeking to purchase air rights to the property from the City of Miami Beach for $55 million, in addition to the developer completing $22.5 million of public improvements including a one-acre public park and upgraded baywalk and $15 million for site residency and flood mitigation. The developer will also sign a long term lease for the city-owned Miami Beach Marina which will also see $35 million of improvements over 30 years and Suntex will be appointed as the new marina operator.

Record Breaking Class A Office Lease Signed At Yukon Miami In Miami Beach's South of Fifth Neighborhood

The Yukon Miami, a class-A commercial office building at 119 Washington Avenue in Miami Beach’s affluent South of Fifth neighborhood, has shattered office leasing records in Florida despite the Covid-19 pandemic.

J. Goldman & Co., LLP, an independent investment manager, has signed an eight-year lease for 3,318 square feet of office space and a 700-square-foot private, covered terrace for a record-breaking $92 per square foot. This is an expansion for the financial services firm, which had already been leasing 1,223 square feet on the fourth floor. The lease was overseen by The Company Real Estate and The Global Consulting Organization.

“The Yukon Miami, whose office space is now close to 100% occupancy, is an asset that continues to outperform the market, not only in Miami but in the entire state of Florida,” says Cyril Bijaoui, principal and broker of The Company Real Estate, who represented the owner in the transaction and has handled the leasing for the property for the past eight years. “This is truly a building for the discriminating tenant, the top 1%, who appreciates the character and energy of the South of Fifth neighborhood.”  

The 88,148-square-foot Yukon Miami is the only Class-A office building located in the exclusive South of Fifth enclave. In addition to its prime location, the property features an enviable 9,500-square-foot rooftop development opportunity with 360-degree views of the Atlantic Ocean, Miami Beach and Downtown Miami.

Owned by Yantra 119 LLC and managed by Giulio Rangoni and Cinzia Zanella, The Yukon relaunched its sales effort this summer and is being marketed by Amit Egan Datwani, founder and chief consultant of The Global Consulting Organization, and Mr. Bijaoui for $45 million. Final offers for the property are due by Friday, October 2nd. The building’s 9,081-square-foot ground floor retail space has also just hit the market.

“It’s an ideal location to create a restaurant concept that you would expect to experience in either the Design District or at Bal Harbour Shops,” says Mr. Egan Datwani, “a place that could be infused with the early aughts buzz of Pastis in New York, the devout clientele of Joe’s Stone Crab in Miami and the exclusivity of Le Club 55 in St. Tropez.”

“The Yukon Miami presents a visionary investor with the ultimate opportunity to transform a value-add trophy asset into an absolute gem,” adds Mr. Egan Datwani. “This really is the Salvatore Mundi of the real estate world.”

Goddard Investment Group Moves To Evict WeWork From South of Fifth Location

WeWork’s landlord at 429 Lenox Avenue, Goddard Investment Group, has moved to evict WeWork from their South of Fifth location at 429 Lenox Avenue in South Beach. The 43,500 SF building is fully leased by WeWork who skipped out on rent payments for April, May and June. An eviction notice reportedly alleges WeWork behind in excess of $650,000 in unpaid rent which must be paid by today or WeWork must vacate the property (July 7, 2020). WeWork first opened the South of Fifth location in early 2016 and is committed to the NNN lease until 2031. Goddard Investment Group financed 429 Lenox Ave. with a $23 million floating-rate loan issued by Granite Point Mortgage Trust, Inc. In Miami WeWork has other locations at 350 Lincoln Road, Brickell, Downtown Miami and Coral Gables.

Times have not been good to WeWork following its failed IPO in 2019. The coworking giant recently announced that it will being closing its first location to ever open in New York City and saw its valuation slashed from over $47 billion to $2.9 billion.

In May 2020, a group of WeWork’s members moved toward suing the co-working giant demanding that WeWork cease collecting rental fees. Many tenants had already requested rent relief, cancelled their leases or stopped paying, which put over $5.5 billion of CMBS loans backed by WeWork occupied properties at risk. Some of the CMBS loans back WeWork flagship locations in New York and San Francisco. WeWork has retained Newmark Knight Frank and JLL to try to renegotiate leases and negotiate concessions from landlords at some of their properties as the firm try to stave off a potential bankruptcy.

WeWork’s problems do not end there. Former CEO and co-founder Adam Neumann is reportedly under investigation for self-dealing by the New York State Attorney General. In addition, the Tokyo-based SoftBank led by Masayoshi Son and a special committee of WeWork board members have been locked in a legal battle after Softbank walked away from a $3 billion tender offer in April 2020 which was part of the $9.5 billion bailout package SoftBank signed with WeWork following WeWork’s failed IPO.

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

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 which includes a total of 19 different colors in the home’s interior which was used to speak to the vibrant art deco “language” South Beach conveys. With pieces of furniture selected from some of the most iconic and skilled designers from around the world the unit houses a unique glass dining table from the famed, Carlo Santambrogio who is known for the “see-through glass home” in Milano Italy, an original couch of the late Zaha Hadid worth $13,000 and original Ludwig Mies van der Rohe Barcelona chairs.

The residence offers 4 bedrooms and 3.5 baths, spanning 4,154 SF interior with over 2,446 SF of terrace. The unit offers breathtaking views overlooking the Port of Miami, Fisher Island and open ocean views from the master bedroom. An 11’ of deep terraces make for an outstanding outdoor entertainment area with a built-in summer kitchen, private movie theater, private elevator foyer, 11’ elevation between units, floor to ceiling glass walls and airconditioned private garage.

Heralded as Miami’s most luxurious residence, Apogee, which is located at 800 South Pointe Drive, defines the ultimate in luxury living. Residents enjoy unparalleled personalized service and security. Located on South Pointe Drive in the heart of SoFi steps from South Point Park and the beach, the location exceeds expectations and offers the best in dining, shopping and entertainment. Apogee South Beach, 800 S Pointe Drive, Unit 2004, is currently listed for $16,950,000 with Bill Hernandez & Bryan Sereny of Douglas Elliman.

Images via Douglas Elliman

For more information about Apogee Unit 2004, private showings or purchasing/ leasing information please fill out the form below:

$45 Million Trophy Office Building for the 1% Hits the Market in South of Fifth

The Yukon Miami, which commands one of the highest per square foot rents in Florida at $78 per square foot, is located at 119 Washington Avenue in Miami Beach’s affluent South of Fifth neighborhood. The Arquitectonica-designed office building has just hit the market for $45 million. Amit Egan Datwani of The Global Consulting Organization and Cyril Bijaoui of The Company Real Estate are representing the seller. 

The 43,140-square-foot commercial office building is the only Class A office building located in the South of Fifth enclave steps away from world-class, record revenue breaking restaurants, including Joe’s Stone Crab, Estiatorio Milos, and Prime 112.

In addition to its prime location, The Yukon Miami features more than 8,000 square feet of available rooftop terrace space with 360-degree views of the Atlantic Ocean, Miami Beach, and Downtown Miami, the largest commercial roof and deck space in South of Fifth.

“Nestled between Fisher Island (the richest zip code in the United States) and the revitalized Washington Avenue only enhances the locational appeal of the South of Fifth neighborhood,” said Amit Egan Datwani, founder and chief consultant at The Global Consulting Organization. “The Yukon Miami is the ideal opportunity for a visionary investor that understands this and has the ability to transform the property from a trophy asset to an absolute gem.”

Premier tenants include One Sotheby’s International Realty, Red Steakhouse, W5 Group (a global real estate investment platform), and several financial companies, including Boston-based Raptor Capital Management, Manhattan-based York Capital Management, and Sero Capital.

A private launch party to promote the building hitting the market will be held on The Yukon’s rooftop terrace next month.

By Stephanie Warren

Multiplan R.E.A.M. Launches Ocean Park South Beach In South of Fifth

Multiplan Real Estate Asset Management (MultiplanREAM) has announced plans to develop Ocean Park South Beach, an exclusive boutique condominium featuring a limited collection of 10 luxury beach residences in the prestigious South of Fifth (SoFi) enclave. Already, two homes are under contract in the 10-residence building. The exclusive four-story project will not only be located on the famed Ocean Drive thoroughfare and across from the sparkling Atlantic Ocean and its powder-white beaches, but it will be just steps from the lush green gardens of Marjory Stoneman Douglas Park, which feature paved promenades, outdoor exercise areas, and children’s play areas -- perfect for families, friends, and pets.  Thanks to the unparalleled location of the boutique building, both the ocean and the park will double as two of the most coveted and accessible amenities for residents’ year-round enjoyment, essentially giving well-heeled homebuyers the rare ability to enjoy the best of both worlds.

“Ocean Park South Beach is a beautiful addition to the Miami Beach coastline and we look forward to a successful marketing and sales campaign led by two of our finest agents, Eloy Carmenate and Mick Duchon,” said Howard M. Lorber, Executive Chairman, Douglas Elliman.

“Luxury living is defined by tangible and intangible elements and experiences – which will be the very essence of Ocean Park South Beach,” said Marcelo Kingston, Managing Principal of Multiplan Real Estate Asset Management, the visionary developer behind the exquisite 57 Ocean condominium on Millionaire’s Row.  “The ability to wake up every morning, take in the sights, sounds, and refreshing breezes of the ocean, and enjoy an invigorating walk along the beach, are truly some of life’s greatest pleasures.  A seaside setting as incredible as this one -- coupled with the splendor of the South of Fifth surroundings and the adjacent park -- will epitomize oceanfront living at its finest.”

Designed by globally acclaimed architect Revuelta Architecture International, with interiors by Marcela Lombana and landscaping by Gardner Semler Landscape Architecture, the property, which is slated for completion in December 2021, is already being singled-out for its chic yet relaxed South Beach lifestyle, encapsulated by thoughtfully designed floorplans, sophisticated organic interiors, expansive terraces, and curated amenities.

Residences at Ocean Park South Beach come in Two- to three-bedroom residences, starting at $1.5 million, and will range in size from 1,117 SF to 1,715 SF, with large terraces providing an additional 267 SF to 1,194 SF feet of outdoor living space. Highlights will include private elevators that open directly into home foyers, 10’ ceilings, floor-to-ceiling windows with 10’ sliding doors, light solid oak wood and natural stone flooring, and kitchens by Poliform with Matte Touch cabinets, Wolf and Sub-Zero appliances, and Silestone Calcatta Gold stone grooved waterfall edge countertops and backsplashes. Sumptuous master baths will be complete with floating vanities with marble showers, floating European-designed standalone bathtubs and double-sinks.

Two four-bedroom penthouses, priced upwards of $6 million, will comprise 2,393 SF of interior space as well as 1,564 SF of expansive terraces.  Each will additionally be marked by 12’ ceilings, floor-to-ceiling windows with 12’ sliding doors, an upgraded appliance package with a tower wine cooler and double-fridge unit, and a rooftop deck with a private spa pool, summer kitchen, and dedicated powder room.

Ocean Park South Beach will also offer amenities and services which will be lavish and state-of-the-art. In addition to lushly landscaped tropical outdoor areas, replete with vibrant species of flora and fauna, there will be a 36’ pool with Italian-designed poolside chaise lounges and umbrellas, an outdoor relaxation spa with a Jacuzzi, a poolside summer kitchen and outdoor dining area, a relaxation lounge on a sunset pool deck, and beach service. The property’s central location will furthermore put residents well within reach of Oceanfront Park and South Beach’s myriad of gourmet restaurants, nightlife venues, and boutique shops.

The property’s beautifully-appointed sales gallery loft is located at 135 Ocean Drive in Miami Beach. Douglas Elliman is the exclusive residential brokerage for the project with Eloy Carmenate and Mick Duchon overseeing sales.

Images via Lifestyle Production Group (LPG)

For more information about Ocean Park South Beach, private showings or purchasing/ leasing information please fill out the form below:

One Thousand Museum By Zaha Hadid Architects Announces Museum Beach, A Private Beach Club Exclusively For Residents

One Thousand Museum by Zaha Hadid Architects has announced Museum Beach, an exclusive private beach club for residents in South Beach’s South of Fifth neighborhood. The offering is yet another five-star amenity available to residents at the ultra-luxury condo tower designed by Zaha Hadid in Downtown Miami’s Park West neighborhood. Residents will be offered luxury transportation from the condo tower to the beach club, which will offer residents a lavish beach experience including lounge chairs, surfboards, etc.

The 62-story One Thousand Museum by Zaha Hadid Architects is the late-starchitect Zaha Hadid's first residential skyscraper in the western hemisphere. The project is being developed by Louis Birdman, Gilberto Bomeny, Gregg Covin, Kevin Venger and the Regalia Group with Plaza Construction as the general contractor. One Thousand Museum's design features an exoskeleton design which acts as the buildings structural support. This allows the developer to remove columns from the units, creating expansive glass views of Biscayne Bay. The tower will feature only 83 units ranging from $5.8 million to over $20 million and 4,600 SF to over 10,000 SF. Additional amenities to Museum Beach will include Miami's only private rooftop helipad, a state-of-the-art fitness center, spa, two pools, an indoor aquatic center, and a sky lounge. Construction topped off in February 2018 and the tower is on track for delivery in early 2019.

Check out PROFILEmiami’s full coverage of One Thousand Museum

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

ATM Clothing Designer and Founder Anthony Thomas Melillo Purchases Unit at Three Hundred Collins

ATM clothing designer and founder, Anthony Thomas Melillo has purchased a unit at Three Hundred Collins, a project that has been attracting big names who are looking for that walkable New York City lifestyle found in the South of Fifth neighborhood.

Three Hundred Collins is a project by Jason Halpern of JMH Development and NYC’s designer for the one percent, Thomas Juul-Hansen, and has become South of Fifth’s newest icon attracting some of NYC’s biggest fashion luminaries. A few months ago it was reported that Richard Ferretti and James Gager, Estee Lauder executives, purchased a $5.8M unit. Myles Chefetz, owner of the iconic Prime 112 restaurant also purchased a unit in the same building.

Last Friday, ATM clothing designer and founder, Anthony Thomas Melillo closed on the largest two-bedroom residence in the building that features a 12-foot deep wrap around terrace with Miami Beach Sunset views, private elevator access, and a top-of-the-line Miele kitchen. Melillo closed for just over $2M and was represented by Dina Goldentayer & Joseph Schafer of Douglas Elliman Real Estate, who held both sides of the deal.

The 19-unit boutique building is 95% sold and is in the heart of South of Fifth, home to the most iconic restaurants and shops, and is steps away from the beach. Three Hundred Collins offers the amenities NYC’s luxury buyers are looking for including a concierge, fitness center, rooftop deck with cabanas, and a 75-foot saltwater pool.

Article by: Katya Demina