Downtown Miami’s Courthouse Tower is set to undergo a $5 million renovation designed by Wynwood based architecture and interior design studio MKDA after it was acquired by New York real estate investment firm Brickman for $27.5 million in March 2016. Courthouse Tower is 162,500 SF spread over 25 floors of office space with ground-floor retail. MKDA will be tasked with upgrading the façade, signage, lobby, amenity spaces, elevator lobbies and corridors with a modern architecturual style.
Featured Listing: Pine Tree Drive Estate with Waterfrontage on Indian Creek Lists for $8.95 Million
A recently restored luxury waterfront that has 100 feet of water frontage on Indian Creek has hit the market for $8.95 million. 6401 Pine Tree Drive Circle was recently restored by owner and developer Barry Brodsky of Brodson Construction and is the previous home of producer and songwriter Desmond Child. The home is 7,000 SF spread over 6 bedrooms, 5.5 bathrooms and features old world craftsmanship and luxurious interiors. It also features a guest house with a kitchenette, full gym, an outdoor kitchen and dining area ideal for entertaining, as well as a glass-wall-enclosed infinity pool. The home is listed for $8.95 million with Eloy Carmenate, Mick Duchon and Brett Harris of Douglas Elliman Florida.
"The property was expertly crafted with standout interior and exterior elements that complement its stunning waterfront views,” said listing agent Mick Duchon of Douglas Elliman, who is representing the seller. “Quietly nestled on an expansive waterfront lot, this home offers a private retreat with resort-style amenities that will appeal to discerning buyers.” Enjoy the photo tour below.
PARAMOUNT Miami Worldcenter Unveils Penthouse Collection Featuring 26 Exclusive Residences
PARAMOUNT Miami Worldcenter has unveiled their penthouse collection of 26 exclusive penthouses. The penthouses will be located in the circular upper core of the 60-story skyrise and will consist of 18 large single-story residences and 8 two-story duplex residences ranging in price from $3.5 to $9.5 million. The tower’s core will feature penthouse residences ranging between 3,500 and over 6,000 SF in layouts consisting of four and five bedroom residences. 2 select duplex penthouses will be located on the 54th floor with another 2 premier duplexes will be located on the 55th and 57th floors. The penthouses will be part of the tower’s four-level Skydeck, which is designed to look like the helm of a magnificent Italian super yacht. The Skydeck will feature its own sky view lounge, sunrise pool, observatory, infinity pool, sundeck and Tai Chi deck. Penthouses will feature panoramic views, private elevator access, 10-foot ceilings, European kitchens and bathrooms complete with rain showers and spa tubs, as well as larger entertainment spaces. Residences also include chef's kitchens including 12-foot islands and the highest quality Gaggenau appliances including a full-size wine cooler and premium induction cooktops.
“The Penthouse Collection Series is yet another testament to the new dimension PARAMOUNT Miami Worldcenter is introducing to the market,” said developer Daniel Kodsi. “A true rarity, our penthouse residents will enjoy expansive floorplans and oversized, outdoor living rooms, designed to feel like a true single family home in the sky with sweeping 180 degree views and all of the benefits of our urban location and unmatched amenity offerings.”
Check-out our PROFILE Exclusive Interview with Dan Kodsi, the developer of PARAMOUNT Miami Worldcenter as well as our coverage of the release of the PARAMOUNT Miami Worldcenter Guest Suite Collection.
ZOM Florida and Invesco Real Estate Break Ground on Maizon at Brickell
ZOM Florida and Invesco Real Estate has broken ground on Maizon at Brickell after receiving a $52 million construction loan. Maizon at Brickell will be a Class A luxury high-rise which will feature 262 units. The project is walking distance fromMary Brickell Village, Brickell City Centre, Miami Avenue and Brickell Avenue.
“We are excited to partner with Invesco Real Estate on our first ever development venture together. Our project site has excellent pedestrian access to the numerous retail, entertainment, and employment locations available in Brickell, and is also convenient to downtown Miami via the multi-modal public transportation nearby. Maizon will bring a new level of quality, unit features and amenities to the burgeoning West Brickell neighborhood,” said Kyle Clayton, ZOM Florida’s Development Vice President.
“We are very enthusiastic about the future of the Brickell neighborhood and the Miami market as a whole. Invesco Real Estate looks forward to working with ZOM to deliver a high quality product that will be distinctive in the market. We’re hopeful that the new relationship with ZOM will bring opportunities for future high quality investments benefiting our institutional clients,” said Evan Roth, Acquisitions Director at Invesco Real Estate.
The project will include an 8-story mid-rise and a 19-story high-rise connected at the parking structure. Units are expected to be delivered in Q1 of 2019. The developers originally purchased the property for $16 million. Maizon at Brickell will be designed by MSA Architects, Inc. and Moss is the general contractor on record.
Downtown Miami's New World Tower to Undergo $10 Million Renovation, To Become 100 Biscayne
Downtown Miami's New World Tower will undergo a $10 million from East End Capital and will be renamed 100 Biscayne. The redesign of the existing 30-story, 357-foot office tower will be headed up by Zyscovich Architects with interiors by MKDA. Renovations will include the lobby, façade, hallways, common areas, parking facilities, bathrooms, new amenity spaces with conference areas and fitness centers as well as upgrading the building to fiber connectivity. At the time of completion in the 1960's, New World Tower was the tallest building in Miami. East End Capital acquired the land for $84 million in fall 2016.
Miami's Historic Preservation Board to Review Plans to Update the Miami Woman's Club
Miami’s Historic Preservation Board will review a proposal to renovate and update the Miami Woman's Club, which was originally completed in 1930. The proposal calls to bring back the original look of the building and turn the property into a restaurant, rooftop lounge and event or ballroom space. The Miami Woman's Club is located on Margaret Pace Park at 1737 North Bayshore Drive across the street from Opera Tower and adjacent to The Grand. MWC Development LLC is the developer on record.
Drama Beginning to Unfold at Island Gardens on Watson Island Between Flagstone Property Group and The City of Miami
15 years ago, the city of Miami and Turkish developer Mehmet Bayraktar's Flagstone Property Group struck a deal to the tune of a 99-year lease to allow Flagstone to develop the Island Gardens property on Watson Island. Last week, city commissioners unanimously voted 5-0 to issue a notice of default to Flagstone Property Group. The city of Miami grew frustrated after the development proposed by Flagstone, which would include 2 hotels, 221,000 SF of retail and restaurant space and a megayacht marina was never built and only the megayacht marina was completed in 2015. The project was approved by Miami voters in 2001 and had expected costs over $1 billion. Flagstone Property Group claims that they can cure any defaults and may sue the city. They also claim that terminating the lease would lead to losses over $100 million. During 15 year period, Flagstone Property Group paid only $6.3 million in rent. Mayor Tomas Regalado could veto the vote and has suggested commissioners bring in a third-party to determine if Flagstone is actually in default.
Featured Listing: Video Tour of Buena Vista Estate in Key Biscayne Listed for $33 Million
960 Harbor Drive in Key Biscayne, also known as Buena Vista, has dropped their asking price from $36 million to $33 million. The 1.4 acre estate features a 14,739 SF main house with over 720 feet of water front. It also features a 16-seat movie theater, tennis court, basketball court, saltwater pool and spa, private beach and multiple docks. The home is currently listed for $33 million with The Nash Group and The Keyes Company. Enjoy the video tour below.
Miami is Second-Fastest Growing Major City in America in 2016
According to Census data, Miami was the second-fastest growing major U.S. city in 2016. Miami's population grew 2.9% from July 1, 2015 to July 1, 2016. The city added 12,715 people which led to population growth to 453,579 from 440,864. Since 2010 Miami's population has grown 13.5%. Seattle was the country's fastest growing city at 3.1%. The Miami Metropolitan area has an estimated 5,400 people moving into South Florida per month. Miami is the 4th most densely populated major city following New York, San Francisco and Boston.
Architect Rene Gonzalez @ Louver House
Construction Update: South-of-Fifth's Louver House from Mast Capital Nears TCO
Mast Capital's Louver House, located in South of Fifth at 3rd and Meridian, is cruising towards completion. Designed by award-winning architect Rene Gonzalez, the four-story boutique property features 12 exclusive luxury residences and is on track to receive its TCO by the end of June 2017. Louver House complements the residential, walking neighborhoods lush, natural environment. The city of Miami Beach asked that the original bungalow that stood on the property be restored in some way, so Mast Capital created a public walking space via a louvered bungalow, paying hommage to the area's original beachside setting.
“Like all of my work, Louver House is designed to both reflect and respond to its environment. The building embraces the tropical qualities of the South of Fifth neighborhood and reinterprets them for contemporary living," said architect Rene Gonzalez.
“Louver House offers everything that today’s buyers are looking for, including luxurious amenities and an extremely desirable location walking distance to some of the best restaurants and our beach club,” said Camilo Miguel Jr., CEO of Mast Capital. “This milestone gets us one step closer to delivering the Louver House lifestyle.”
“This project broke ground in December 2015 and has progressed very nicely, reaching each progress point on target. Our team is excited to reach the next and final step, completion,” said Beauchamps Construction president Dean Thomas.
Louver House features a number of amenities, including a health club with an outdoor yoga area, pool deck with negative edge pool, landscaped lounge area, rooftop terrace, sunken lobby gardens as well as electric vehicle charging stations. Units at Louver House range from 2,088 to 2,432 square feet and prices range from $2.5 million to $3.9 million. All residences will be outfitted with unique kitchens from luxury Brazilian designer Ornare’s new “High Line” collection. Sales and marketing for the Louver House are exclusively handled by ONE Sotheby’s Realty and there are a few units left.
Architect Rene Gonzalez @ Louver House