"Made in South Beach" Coming to 600 Alton Road

Crescent Heights proposed project at 600 Alton Road will officially be called "Made in South Beach." The project includes 501 rental units with 70,000 SF of amenities and 60,000 SF of indoor/outdoor retail space with beautifully landscaped courtyards. Units will come in 1 and 2 bedroom layouts. Currently no construction permits have been applied for but Crescent Heights has been focusing on designing, branding and building the concept for the project. They're goal is to transform the entrance to Miami Beach as 600 Alton Road is the first residential and commercial lot seen when entering South Beach. The project was originally called "The Waves" and was to include 485 rental units before before Crescent Heights expanded their plans. The footprint will envelope the 500, 600 and 700 blocks of Alton Road. 

Weekly Construction & Real Estate News Round-Up 12/28

1. Santander Bank and Fifth Third Bank have issued an $89 million for the first tower at Miami Worldcenter’s Seventh Street Apartments. The first phase of the project includes 444 units in a 43-story tower and a second tower is planned with 413 units.
2. Gil Dezer won court approval for the $28.5 million purchase of a Hillsboro Beach development site, which is being sold out of bankruptcy by embattled home builder John Kennelly.
3. Swedish firm Contentus AB has purchased Related Group’s newly built Davie apartments for $59M.
4. Nightingale has paid $80M to purchase Miami Beach’s Lincoln Place office building which is fully leased to LNR Partners until 2021.
5. Lennar has completed the purchase of another development site at American Dream Miami for $51M to add to their adjacent lot immediately south which they paid $41M for in January. Their total invested in the assemblage is now $96 million.

Featured Listing: Golden Beach Waterfront Mansion Listed for $14.95 Million

Miami real estate developer Paul Groll has listed his Golden Beach mansion for $14.95 million and the home looks to be worth every penny. Meticulous and modern design is evident throughout the 11,531 SF home that covers 6 bedrooms and 7 bathrooms. The mansion is located directly on the Intracoastal waterway with water views and water access. The interior was designed by Steven G. and includes Aster Italian finishes and marble floors. The home also includes a movie theater, chef's kitchen and an inanity-edge pool. The home is located at 170 South Island in Golden Beach and the listing price equates to roughly $1,297 SF and is the fourth most expensive home for sale in the neighborhood. Currently listed with Denver Bright of Douglas Elliman Real Estate.

Ritz-Carlton Residences Penthouse Listed for $40 Million

The eight-bedroom penthouse of the Ritz-Carlton Residences has been listed at $40 million by Lionheart Capital as the building cruises towards a Q2 2017 completion. The units features over 12,300 SF of livable space along with two pools and two hot-tubs and 13,000 SF of outdoor space. The unit also features a wine tasting room and two summer kitchens. The unit can also be split into two with Penthouse 11 listed for $17 million and Penthouse 12 listed for $20 million. The raw space can also be purchased for $37 million.

Read our August Construction Update. 

Aston Martin Residences to Feature Helipad and Private Pools for Penthouse Units

Downtown's new luxury project, Aston Martin Residences, continues to come to fruition as sales are now underway. Details of their various proposed amenities include a rooftop helipad, a super-yacht marina and private outdoor pools on penthouse balconies. Penthouse units will be located on floors 56-60 and units with a private pool can cost up to $35 million. Levels 52-55 will feature four floors of amenities for residents including an infinity edge pool overlooking Biscayne Bay from the 55th floor. Top-off is expected for 2020 and closings are expected to take place in 2022.

Florida was 2nd Fastest Growing U.S. State in 2016

Florida was named the second fastest growing U.S. state by the United States Census, following only Texas. Over 1,000 people moved to Florida per day on average in 2016. Utah, Nevada and Idaho beat Florida on a percentage basis, which ranks fourth at 1.82% population growth. People have been leaving northern states such as Connecticut, which feature high-tax and cold weather. In 2015 Florida took over from New York as the third most populous U.S. state, a gap that is now over 1 million people. In 2016 Florida saw 367,525 people move to the sunshine state to bring the population to 20,612,439.

One Bayfront Plaza Plans Submitted by Tibor Hollo

Plans for One Bayfront Plaza have been submitted for review for the 92-story, 1049-foot tower. Tibor Hollo had filed in September to raise the permitted height to 1,044-feet from the original approved 1,005-feet. The updated plans show the tower will feature 902 apartments, 200 hotel rooms, 532,000 SF of Class A Office Space, 103,959 SF of lower level retail, a pedestrian bridge to the Metromover, and 1,055 parking spaces. One Bayfront Plaza will be designed by architect Kohn Pedersen Fox. Demolition of existing buildings could begin in 2019 and construction could be completed by 2023. 

The One by Related Group is Coming to Brickell

Related Group's The One is going to Brickell. Related Group president Carlos Rosso told The Real Deal that sales are expected to launch in Q3 of 2017. One Brickell features three towers designed by Arquitectonica that will be built over two phases. The megaproject will have 1,400 residential condo units and 249 hotel units. The buildout includes a residential 57-story condo tower and a 75-story hotel and condo tower. A third, 82-story residential condo tower will follow. Residents will have access to private beach frontage and over one hundred exclusive amenities according to Related Group. 

Featured Listing: Duplex Penthouse in La Gorce Palace Asks $5 Million

La Gorce Palace's penthouses have found themselves in a unique position, as they are listed separately for a combined $5.9 million, but the seller has made it known that a buyer can have them both for $5 million. Currently the units are connected via a rooftop terrace, but the buyer will have the option to knock-down the walls to create a mansion high-in-the-sky. Penthouse 1-2, already a combined duplex, is 3,825 SF and asking $3,695,000. Next door, Penthouse 3 is asking $2.25 million for its 2,280 SF. The rooftop terrace is over 3,100 SF. The price comes to roughly $650 SF including half of the outdoor space in the number. Listing and photos by Justin Rubin of The Rubin Group, Douglas Elliman Real Estate. 

Weekly Construction & Real Estate News Round-Up 12/19

1. SLS LUX Brickell has topped off at 58 stories.
2. PARAMOUNT Miami Worldcenter is closing in on a construction loan to complete the project after  they officially completed acquisition of the site for $26.275 million from Art Falcone and Miami Worldcenter Associates. The project is over 55% sold.
3. One Thousand Museum secures $225 million construction loan.
4. Midtown 5's first residents move-in. Rent's around $3 SF.
5. Genting’s Resorts World have taken over operations at the Gulfstream Park casino in Hallandale Beach. Genting is trying to have those casino operations moved to downtown Miami.
6. The developer of the Metropica master-planned community in Sunrise, YOO, has launched pre-construction sales of six loft-style condos with prices starting just under $400,000.
7. Alan Faena’s companies hit with second lawsuit from dissatisfied buyer
   Suit alleges $7.3M unit had cracked mirrors, missing appliances and no kitchen cabinets