Location Ventures Closes On South Beach Assemblage For $20 Million Where Co-Living Project Urbin Miami Beach Is Planned

The Coral Gables-based Location Ventures, led by Rishi Kapoor, has closed on the Washington Avenue assemblage where they have planned Urbin Retreat Miami Beach for $20 million. The acquisition was financed with at $14 million mortgage assumed from the seller, Fryd Properties. The assemblage includes a 10,697 SF retail property at 1260 Washington Ave. and an office building at 1234 Washington Ave.

Prior to closing, Location Ventures has had the Urbin Retreat Miami Beach project in the works since at least 2019. Urbin Retreat Miami Beach is designed by Touzet Studio was approved by Miami Beach’s Historic Preservation Board and Planning Board in August 2020. Urbin Retreat Miami Beach will be a co-living, co-working and wellness platform featuring 60 residential units for a combined 120 bedrooms, retail, co-working space, a rooftop bar and a ground floor restaurant and bar.

Related Group's Chairman Jorge Perez Sells Apogee Beach Penthouse In Hollywood For $6 Million

Jorge M. Perez, the billionaire Chairman and CEO of Related Group, has sold his Apogee Beach PH in Hollywood, FL for a record $6,000,000 to William Schwitzer, CEO of William Schwitzer & Associates, a personal injury law firm based in NYC. Perez’s penthouse 2401 at Apogee Beach in Hollywood, FL was represented by Oren Alexander of Douglas Elliman while Schwitzer was represented by Gillian Fessler of Douglas Elliman. The 5,051 SF residence traded at $1,190 PSF which equates to over 285% increase since Perez acquired the property in 2013 for about $2 million.

The full-floor penthouse features 6,307 SF of terraces, has five bedrooms, a den, five full bathrooms and one half-bathroom. The penthouse at Apogee Beach was completely custom designed to be a luxurious home for entertaining and grand living with extraordinary views in every direction from its many outdoor spaces, including the all-encompassing balconies on the east & west facades, an expansive rooftop deck with outdoor kitchen and private pool, and a private poolside cabana downstairs. The residence features custom interiors with high ceilings and pale wood floors, a massive living room, and a master suite complete with private office.

“All of South Florida is seeing huge growth, but few markets can even come close to Hollywood Beach in terms of price appreciation,” said Jorge M. Perez, CEO of Related Group. “This neighborhood was long overlooked, but this transaction, and the considerable pent-up demand for similar product, is reaffirmation of what we’ve always known – Hollywood, Hallandale and other hidden gems across the region are poised for their moment in the sun.”

Related Group completed the Apogee Beach condo tower, located at 3951 South Ocean Drive, in 2013. It was designed by architect Carlos Ott, interiors by New York-based David Rockwell and art contributions by Michele Oka Doner and Carolina Sardi. The beachfront condo was the first new construction project developed post 2008 financial crisis on the barrier Island, and has been touted as the pilot for all post-crisis developments across South Florida.

Images via Douglas Elliman

ARTE by Antonio Citterio Is The First New Development In Miami To Accept Cryptocurrency

ARTE by Antonio Citterio, the exclusive boutique condominium which recently opened in Miami’s Surfside neighborhood, has announced that it will be first new residential development in Miami to accept cryptocurrency as a form of payment. Signifying the developers’ optimism for the city's future as the cryptocurrency capital of the world, all remaining residences can be purchased with digital currency.

To streamline the sale of residences in crypto, ARTE has formed partnership with blockchain and securities trading platform SolidBlock, which provides custom solutions for buying and selling digital assets. SolidBlock will ensure that buyers paying in cryptocurrencies such as Bitcoin and Ethereum enjoy an easy and straight-forward purchasing experience. They will also be available to assist with any other crypto exchanges or real-world transactions that buyers wish to make in the future as well as legal and tax advice.

As the first Miami condominium to welcome cryptocurrency, ARTE joins Mayor Francis Suarez in the vision to transform the city into a leading technology hub. By embracing digital assets like Bitcoin as the future of business, the building has taken the lead in upending traditional real estate practices in Miami and has set an example for other developments in the market.

"The embrace of cryptocurrency and emerging technologies across all sectors of industry is precisely how Miami will become the city of the century,” said Mayor Francis Suarez. “ARTE is setting an important precedent and I won't be surprised to hear similar stories in the near future."

The announcement also comes at a unique time in Miami, when many of the top Silicon Valley companies and venture capital firms have opened satellite offices or have expanded into the city. According to the developers, this migration has played a role in the decision to launch a cryptocurrency offering at Arte.

“Miami is becoming a true city of tomorrow,” said Alex Sapir, Chairman of Sapir Corp LTD, whose Israel-and New York-based subsidiary, SC 8955 LLC, developed the project. “As the most exclusive luxury building in the city, we’re positioning ourselves for a future where half the world’s billionaires are crypto billionaires, which will happen once Bitcoin reaches $200,000. With cryptocurrencies already creating incredible worldwide wealth, it’s real estate that will sustain that wealth and provide buyers with a legacy. Cryptocurrency is an important and valuable asset, and we believe it’s only natural to set the pace in the real estate industry for these types of transactions at Arte, not just keep up with it.”

“Cryptocurrency is not only a viable and sustainable new asset, it’s also the future of wealth,” said Giovanni Fasciano, co-developer. “As more technology executives move to Miami and bring cryptocurrency along with them, it is crucial that buildings start to devise plans to make blockchain transactions easier and more secure for investors. Arte is the only Miami condominium positioning itself to attract this community at the moment, and we’re proud to take the lead in partnership with SolidBlock.”

ARTE’s collaboration with SolidBlock is the first of its kind. The company pioneered the field of tokenization, spearheading the world’s first successful commercial real estate security token offering (STO), raising $18M for the Aspen St. Regis Resort in 2018. Customizing solutions for private entities to purchase residential real estate in tokens is a new frontier for the platform, and one that could set an exciting precedent for future large-scale luxury developments.

“We are thrilled to have the opportunity to partner with the developers of one of Miami’s most sought-after buildings,” said Yael Tamar, co-founder and co-CEO of SolidBlock. “Discerning and tech-savvy buyers both local and international will appreciate having access to a platform that streamlines the process and helps them invest in this amazing opportunity.”

Nestled in Surfside, the seaside enclave between Bal Harbour and Miami Beach, ARTE is a boutique, oceanfront development at the center of the city’s most vibrant cultural, culinary and shopping destinations. Featuring a stunning design by Italian master architect Antonio Citterio, the building offers impeccable interiors and finishes, as well as ten-star amenities and service. The development was built to cater to an exclusive selection of buyers who have not found quality design, exclusive privacy or outstanding service anywhere else in Miami.

ARTE residents enjoy a robust suite of amenities not found in other Miami luxury condominiums. They include a 75-foot indoor swimming pool, an outdoor swimming pool and beachfront meditation pond, a rooftop tennis court, state-of-the-art fitness center and yoga studio and sauna and steam room. Additional facilities include a children’s playroom with space for remote learning, residents’ lounge, catering kitchen for out-of-home entertaining, and private temperature-controlled parking spaces.

Prices at ARTE by Antonio Citterio start at $10.3 million, or the equivalent cryptocurrency rate, and the spacious three- to five-bedroom plus residences range in size from approximately 3,150 to 7,550 square feet. Sales are exclusively handled by Douglas Elliman Development Marketing.

For more information about ARTE by Antonio Citterio, private showings or purchasing/ leasing information please fill out the form below:

The New York-Based Fisher Brothers Acquire Wynwood Development Site For $17.59 Million

The New York City-based real estate development and investment firm Fisher Brothers has acquired a Wynwood development site for $17.59 million. The property is a 1.5 acre assemblage including the former Miami Rescue Mission located at 2201-2159 NW 1st Ct. and 2200-2250 NW 1st Ave. There are four existing industrial buildings which span 43,440 SF. The seller was a partnership between RedSky Capital and JZ Capital Partners, who acquired the assemblage in 2016 for $22 million.

The RedSky Capital and JZ Capital partnership has been unloading their Wynwood portfolio including the sale of Wynwood Block for $24 million. RedSky Capital also recently sold Cube Wynwd to a development partnership between Tricera Capital and LNDMRK Development.

Fisher Brothers was founded in 1915 by Martin Fisher and was later joined by brothers Larry and Zachary Fisher. Today Fisher Brothers is led by Arnold, Kenneth, Steven and Winston Fisher. Fisher Brothers is a diversified, real estate firm active nationally and recently developed 111 Murray, a 60 story luxury condominium located in the heart of Tribeca; House39, a 372-unit luxury rental tower in Manhattan’s Murray Hill neighborhood; and Station House, a 378-unit luxury rental apartment project in Washington.

Lavish Coconut Grove Waterfront Estate Casa Bahia Designed by Filmmaker Alejandro Landes Sells For $45.91 Million

Casa Bahia, a hyper-luxurious tropical contemporary located at 3085 Munroe Drive designed by Zyscovich Architects in partnership with filmmaker Alejandro Landes, has sold for $45.91 million in an off-market transaction. The purchase was financed with a $25.3 million mortgage provided by First Republic Bank.

Casa Bahia spans 13,843 SF spread over 7 bedrooms, 8 full-bathrooms and 1 half-bath with interiors designed by Landes’ mother, Catalina Echavarria, of CES Studio. The estate also features a 2 bedroom guest house, theater, custom wine cellar, stunning floor-to-ceiling glass offering panoramic views of Biscayne Bay, rooftop deck, smart home technology, 8 car garage, 4 kitchens, 518' of waterfront with private dock and a 73-foot heated pool.

Casa Bahia first hit the market for $50 million in September 2016. The home won the Architizer Popular Choice A+ Award in the Architcture + Water category.

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Check Out This Residence At Four Seasons At The Surf Club Which Just Sold For $8.7 Million

A unit at Four Seasons at The Surf Club has sold for $8.7 million, a record $3,952 PSF for a non-penthouse unit. Residence #S705 sold is a 2 bedroom, 3.5 bathroom direct oceanfront residence which spans 2,201 SF. The residence was furnished with built-in shades, closets, travertine flooring, Richard Meier-designed kitchens by Boffi, Sub Zero & Miele appliances, gas cooktop, millwork & cabinetry throughout designed by the famed interior designer. Joelle Oiknine with ONE Sotheby’s International Realty represented the sellers and Jackie Dickstein represented the buyer.

The Surf Club has been an integral part of the cultural history of Miami Beach since its inception as a private social club founded by Harvey Firestone in the 1930's. Located at 9001 Collins Ave, the redevelopment of The Surf Club was led by Nadim Ashi’s Fort Partners and broke ground in March 2014. Four Seasons at The Surf Club sits on 9-acres with 965’ of direct beachfront on the Atlantic Ocean. The building features a 77 room Four Seasons hotel and 150 private residences across 3 glass towers, 2 of which are residential and 1 hotel. The newly restored development also includes full five star amenities including oceanfront dinging, spa, gym, shopping, private and hotel pools and beautifully landscaped gardens.

For more information about private residences at Four Seasons at The Surf Club, private showings or purchasing/ leasing information please fill out the form below:

The Estate Companies Sells Soleste Twenty2 Multifamily In West Miami For $97 Million

The Estate Companies, a subsidiary of Estate Investments Group (EIG), has sold the Soleste Twenty2 multifamily apartment complex in West Miami for $97 million. Soleste Twenty2 is located at 2201 Ludlam Rd. and was developed by The Estate Companies in 2019. The buyer was the Dallas-based Westdale Real Estate Investment & Management Co. and the deal was overseen by Neyda Bravo and Luis Gonzalez of Bravo & Partners Realty. The stabilized multifamily property was 95% leased at the time of sale. Soleste Twenty2 rises 8 stories and features 338 units with amenities which include a rooftop lounge, pool deck with cabanas, sauna, fitness center, yoga room, jogging/walking trail, dog park, coworking space, game room and playground.

Step Inside This Lavish Tahiti Beach Estate Designed By Ramon Pacheco Which Just Sold For $28.9 Million

The ultra-luxe Ramon Pacheco-designed 4 Tahiti Beach Island Road has sold for $28.9 million, the highest price ever for the highly coveted, waterfront neighborhood of Tahiti Beach. The rare, lavish waterfront estate is located on the exclusive gated Tahiti Beach Island of Coral Gables, which is home to less than 30 estates with neighbors including NBA star Ray Allen and baseball player Manny Machado. The property was listed with Chad Carroll with The Carroll Group at Compass and Constantin Gorges, also from Compass, represented the buyer.

4 Tahiti Beach Island Road sits on 1.42 acres of lush, stunningly landscaped land complete with a private, sandy beach. The massive Tuscan estate designed by Ramon Pacheco features 10 bedrooms and 10.5 bathrooms spread over 21,235 SF along with 2 kitchens, a gym, media room with theater seating, a spa complete with a sauna, wine cellar, breakfast area overlooking the private beach, multiple luxurious en-suite bedrooms, and enormous master suite with private balcony overlooking the beach and a master-bathroom finished with exotic stone and a soak-in tub.

The home features multiple living areas on a grand scale seamlessly spread throughout the inside and outside. Every inch is finished with the finest, meticulous detailing, stonework and furnishings throughout including custom lighting, iPad control for the lighting, air conditioning and TV's of the entire property. 4 Tahiti Beach Island Rd. offers expansive ocean views throughout the property and from many of the living areas. Outside features a large heated pool overlooking the ocean, a grand covered summer kitchen and large dining area, lounge seating and sandy private beach.

Images via The Carroll Group with Compass

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Tricera Capital And Alex Karakhanian's LNDMRK Development Acquire Cube Wynwd For $28 Million

Scott Sherman and Ben Mandell’s Tricera Capital in partnership with Alex Karakhanian’s LNDRMK Development have acquired the recently completed Class A office building Cube Wynwd for $28 million. The transaction was financed with $19.6 million in financing split between a senior loan from Amerant and a mezzanine loan from Glacier Credit Strategies which were arranged by Scott Wadler of Berkadia. Cube Wynwd was developed in 2019 by Redsky Capital in partnership with JZ Capital Partners and was financed by Bank OZK and Lionheart Strategic Management.

The building is located at 222 NW 24th St. in Wynwood. Cube Wynwd was designed by Arquitectonica and rises eight stories and offering 100,000 square feet of commercial space. Coworking operator Spaces had leased roughly 30% of the property prior to the sale. The New York-based restaurant group Kissaki also recently signed a lease for the rooftop restaurant space. Other tenants include local retailer ILLIMIT and Bonci Pizzeria.

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Ironstate Development Closes On Wynwood Development Site For $15.6 Million

Ironstate Development has closed on the acquisition of a 1.29-acre development site in Miami’s trendy Wynwood neighborhood for $15.6 million. Miami Beach-based developer Lucky Shepherd had put the development site under contract prior to the pandemic but the contract was ultimately assigned to Ironstate Development. Lucky Shepherd had planned to build an eco-friendly project with a 150-key hotel, and up to 48 private residences.

Real estate broker Andy Charry, with Metro 1, represented the seller, Art By God, Inc. Real estate brokers Mika Mattingly and Cecilia Estevez with Colliers International Florida’s Urban Core Division represented Lucky Shepherd.

“My client had a great property located on a great street, and it became even better because of the proposed Brightline station,” said Andy Charry.

The development site is currently home to Art By God, a 30-year-old business that has become one of the largest retailers of nature products, artifacts and wildlife items in the U.S., from a wide collection of fossils and bones, to an assortment of rough or polished rocks and minerals, and unique art and sculptures from all over the world. The 21,155-square-foot Art By God is located at 60 NE 27th St. The acquisition also includes the following addresses: 26 NE 27 St., 25 NE 26 St., and 61 NE 26 St.

“This is one of the last great sites in Wynwood,” Ms. Mattingly said. “This transaction is a prime example of a Covid-ravished deal that, at the end of the day, came back to life thanks to Miami’s tidal wave market.”