Unit 2802 in the Setai has sold for $5.5 million and the unit is absolutely stunning. The unit is 3 bedrooms, 3.5 bathrooms and covers 2,354 SF. The unit is a rare combination unit which has views that face southwest and southeast, allowing for unique views of the Atlantic Ocean, Miami Beach skyline and Downtown Miami skylines alike. The Setai is a 5-stary, 40-story, glass, beachfront hotel tower with 3 oceanfront pools, beach services, oceanfront grill, 24 hour room service, gym, concierge and full service spa. 101 20th Street Unit 2802 Miami Beach was listed by Eloy Carmenate and Mick Duchon of Douglas Elliman’s Carmenate + Duchon Residential Group. Carmenate and Duchon are no strangers to the ultra-high net worth buyer. They oversee a $300 million portfolio and specialize in top-end luxury homes with architectural significance. Recently adopting a new name, Carmenate + Duchon Residential, the duo have closed on over $70 million worth of deals just this year alone.
Construction Update: New Renderings of SLS LUX Yabu Pushelberg-Designed Spaces Include Lobby & Katsuya
SLS LUX is cruising towards completion as construction is just about done and is expected to wrap up this winter (winter 2017/18). They have released new renderings that include the Yabu Pushelberg-designed lobby, lush 9th floor garden, dramatic entrance and Katsuya by sbe. SLS LUX is a collaboration between The Allen Morris Company, Related Group and SBE Group. SLS LUX will be a five-star experience with world-class amenities and personalized VIP service. SLS LUX will be a 58-story tower designed by Arquitectonica with a unique LED façade by lighting artist Ana Isabel Martinez. It will feature 450 residences and 85 luxury suites designed by Yabu Pushelberg complete with world-class art. SLS LUX will include private elevators, a wine cellar and cigar room, a rock climbing wall, limousine services to a private beach club, and two ground floor dining experiences, Katsuya and Sbar. The condo/hotel is located right down the street from SLS Brickell Hotel & Residences, and is the more elevated series from the SLS Hotels & Residences brand.
Edgardo Defortuna, President and CEO of Fortune International Group & Founder of Vaster Capital (L), Shown with Carlos Rosso of Related Group (R). Photo via TAMZ
Fortune International Group & Rialto Announce Launch of Vaster Capital to Help Foreign Nationals Close on Pre-Construction Condo Units
Fortune International Group & Rialto have announced the launch of Vaster Capital, a private bridge lender specializing in residential and commercial real estate. The goal of the company will be to fill a void in the marketplace for South Florida real estate investors seeking bridge loan products, including foreign nationals. Vaster Capital will have a major impact helping foreign nationals close on pre-construction condo units in which they are in with a 50% deposit. Fortune International Group (Fortune) is a Miami based real estate development company behind iconic towers such as Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, and Auberge Beach Residences and Spa Fort Lauderdale; Rialto Capital Management is a Miami based real estate investment and asset management firm, which invests and manages assets throughout the capital structure in real estate properties, loans and securities, boasts a deep-rooted background in institutional lending and financial services. Vaster Capital has the ability to close loans much faster when compared to other lenders due to less bureaucracy and the use of technology. The firm plans to lend a substantial amount of capital in South Florida, with a goal to expand geographically in the near future. Vaster Capital has also formed a joint-venture with the Related Group, known as Vaster Capital II, to provide financing for buyers purchasing at Related’s portfolio of projects such as Paraiso Bay, Brickell Heights, Hyde Midtown, and SLS Lux.
“Our goal has been to satisfy a long-standing gap within our marketplace, providing professional and customized bridge lending products while better servicing the Miami real estate investor,” said Edgardo Defortuna, President and CEO of Fortune International Group & founder of Vaster Capital. “This is a need I have always sought to address, appreciating that numerous buyers – both in the U.S. and beyond -- are interested in buying and selling real estate offerings in Miami, but do not have access to customized loan offerings that meet their specific needs.”
“Given both Rialto and Fortune’s knowledge of the real estate industry, along with Rialto’s extensive experience in real estate lending, Vaster Capital is structured to become an important lender in South Florida as well as other key markets, allowing borrowers to accomplish their financing needs through a seamless and efficient process,” said Eric Feder, Vice Chairman of Rialto Capital Management.
Featured Listing: Tour the Newly Unveiled Penthouse 1612 of 1 Hotel & Homes Designed by Artefacto
1 Hotel & Homes unveiled Penthouse 1612 yesterday (June '17) designed by Brazilian design-house Artefacto. The oceanfront penthouse spans 2,810 SF Over 3 bedrooms plus den and 3.5 bathrooms. The unit features a spacious balcony that accentuates the residence’s stunning ocean views and is designed to invite ocean breezes and sunlight into every room. Aguiar’s nature inspired aesthetic and airy interiors epitomizes soothing and splendid living. Penthouse 1612 is listed for $6,195,000 by Douglas Elliman Development Marketing. Enjoy the photo tour below.
PROFILE Exclusive: Bringing Eco-Friendly Living to Coconut Grove at Arbor
PROFILEmiami had the exclusive opportunity to sit down with Nick Hamann of Urban Atlantic Group and Jeremy Waks of Oak Ventures, LLC. to discuss their new development shaking-up Coconut Grove, Arbor. Arbor is an eco-living inspired development that will rise 5-stories and feature 52 units. The building is being designed by Behar Font & Partners with with interiors by Smauel Amoia andlandscape design by Witkin Hults and Tyler Nielsen. Units will come in 2 and 3 bedroom layouts and range from 1,400 SF to 2,000 SF. Find out how they used the lush landscape of Coconut Grove to bring family friendly and ecologically friendly, green living to the historic neighborhood.
Nick Hamann, Principal of Urban Atlantic Group
Jeremy Waks, Principal of Oak Ventures, LLC.
NH - Nick Hamann (Urban Atlantic Group, Managing Principal)
JW - Jeremy Waks (Oak Ventures, LLC., Principal)
PM: Arbor seems to bring a truly Coconut Grove vibe. Where did the idea and concept come from?
NH: Jeremy and I are Miami natives and we share a tremendous appreciation for Coconut Grove, its historic roots and unique offerings. We have specifically drawn inspiration from these hallmarks to build something that pays homage to the social threads of the neighborhood, its ‘green’ composition and community-centered attributes.
JW: Our vision has been to create large, house-like residences that capitalize on wide views, special amenities and walkable access to restaurants, recreational spaces, and top-rated schools – essentially, the quintessential home-sites for long-term members of this vibrant community.
PM: What makes Arbor so unique? What sets it apart from some of the other great new buildings that have been built in Coconut Grove recently?
NH: What sets us apart is our strong emphasis on livability and sense of place, a place where you can get to know your neighbors. Arbor is a midscale building with 52 residences, which we recently have not seen in Coconut Grove. This scale allows us to focus on the elements, design, and facilities that connect residents in a livable space and where they can get to know each other.
JW: Our amenities, which are geared toward end-users that enjoy an active lifestyle and sense of community, are specifically designed to feel more like an extension of your living space, rather than an offering that is underutilized. Throughout the building, we’ve focused on creating spaces that encourage residents to engage with each other and the surrounding neighborhood.
For example, our bike share program, which offers residents 24-7 access to bikes and provides an additional option for getting around the neighborhood. Our lobby will also be active and inviting. Also, our pet-walk, rooftop terrace, outdoor cinema, Yoga & Pilates deck, and backyard-like amenity deck (which features a landscaped courtyard, outdoor summer kitchens, social spaces and seating, a lap pool, and water fountain) are all designed to encourage engagement, livability, and to complement a well-balanced lifestyle and maximize indoor-outdoor living.
PM: What is the best feature that residents will enjoy? When they move into Arbor, what sets the residences apart from the other buildings? What makes Arbor a great place to live?
NH: The best feature about Arbor is that it feels like a large home. It’s a place where you can live in a condominium residence that offers family-friendly living spaces -- large open floorplans, high ceilings, and chef-style kitchens – with neighborhood-like qualities and amenities that are an extension of your livable space.
PM: Arbor is an eco-living inspired residences; can you explain what that means and what makes it eco-friendly?
JW: The environment is a passion. Arbor’s design is inspired by the tree-shaded setting of the surrounding neighborhood, carefully pulling the outdoors in through floor-to-ceiling windows and private gardens. There will be ample green space and landscaping throughout the property, including many trees that will provide plenty of shade and add to the property’s overall ambiance.
Our residences are equipped with energy efficient appliances. Our electric car charging stations and bike share program provide a green alternative to transportation. We will also be incorporating recycling throughout the building and using some recycled building materials during construction. Our irrigation system will be eco-friendly and conserve water. We are also exploring the use of solar energy to power some of our common areas and reduce the building’s energy consumption, and are seeking to obtain a green building certificate.
PM: What was one difficulty that you ran into or what was one of the hardest obstacles to overcome to help bring Arbor to reality?
NH: We haven’t run into any unusual challenges. All of our buyers are end-users that really care about the space, and we’ve worked closely with each of them to deliver a unit that they can call home. It’s exciting to see that they are designing their spaces to be specifically conducive to their lifestyles, in both the short- and long-term, and not simply just an investment. However, this adds a certain level of complexity to the building and design process.
PM: What do you think of the recent new developments in Coconut Grove and the new energy they have brought to the neighborhood?
NH: Coconut Grove is one of Miami’s oldest and most diverse neighborhoods, known for its verdant parks, bayside walks, and year-round festivals. The new developments are an improvement to the neighborhood, have brought positive attention to the Grove, and placed it at the forefront of many conversations. The area’s revitalization in general has helped educate people on the neighborhood’s historic roots and unique offerings, which is attracting younger families seeking to take advantage of the area’s great public spaces and parks.
PM: Where do you see Coconut Grove's place in Miami in the next 5 to 10 years?
NH: Coconut Grove will continue to strengthen its position as a balanced community where people can live, work and play. It is becoming more of a complete neighborhood with irreplaceable elements.
JW: The revitalization, increased development and growing business community will continue to make the Grove a desirable location for young professionals, young families and empty-nesters seeking an alternative to high density neighborhoods, such as downtown and Brickell, and a true walkable community. You cannot replicate the historic aspects of the Grove, which is what makes this community so unique.
About Urban Atlantic Group:
Urban Atlantic Group is a real estate development and investment company focused on creating value in urban neighborhoods including repositioning and development of urban core residential, retail and office properties. Urban Atlantic Group believes value maximization is achieved through a combination of core and opportunistic strategic investments in key underserved urban submarkets. UAG is led by founders Nick Hamann as well as Daniel Buraglia. Prior to founding UAG, Nick Hamann worked as Southeast Region Assistant Development Director for the New York-based Rockefeller Group Development Corporation.
About Oak Ventures, LLC.:
Oak Ventures is a Florida based real estate development firm led by Jeremy Waks. He has developed Heathrow Lounge and Treehouse, which brought world-class artists to Miami. Waks aims to construct the cultures around his development to ensure that a new concept seamlessly ties itself to the neighboring community. Waks is also the co-founder of Debris Free Oceans, a non-profit which produces educational programs for teachers and children to host beach cleanup event and raise awareness for the negative effects of pollution of marine life.
Skyrise Releases New Renderings, Nears Completion of Wind-Tunnel Tests
Skyrise has completed their wind-tunnel testing and have released new renderings of the project as they near the potential groundbreaking. The new renderings show greater detail of the proposed attractions including bungee jumping and a stunning observation deck. The entertainment and observation tower is being designed by Arquitectonica and under development by Berkowitz Development Group.
Penthouse 1406 in the Miami Beach EDITION has Sold for $5.4 Million
Penthouse 1406 at the Miami Beach EDITION has sold for $5.4 million. The unit features 2 bedrooms and 3 bathrooms over 2,255 SF and 2-stories. It also features breathtaking ocean and bay views, whitewashed teak floors, Smart Home technology, a European Bulthaup kitchen, as well as a private rooftop deck with plunge pool and outdoor kitchen. Both sides of the transaction were overseen by Douglas Elliman, with Eloy Carmenate and Mick Duchon of Douglas Elliman’s Carmenate + Duchon Residential group representing the buyer and Bill Hernandez and Bryan Sereny acting as the list agents. Continue below for a photo tour of the immaculate penthouse.
Featured Listing: Coral Gables Estate in Tahiti Beach with Chanel Style Master Bedroom Lists for $19.995 Million
12 Tahiti Island Road in Tahiti Beach, an ultra-private enclave of Coral Gable's Cocoplum, has hit the market for $19,995,000. The home features a unique, Chanel styled master bedroom that features Chanel pillows and a headboard styled after the purses including the same quilted, lambskin. The estate is 6 bedrooms, 7.5 bathrooms spread over 10,441 SF. The home also features a movie theater, views of the Miami Skyline and 127 feet of waterfront complete with a pool and private dock. The home is currently listed with Dora Puig of Luxe Living Realty. Enjoy the photo tour below.
More New Renderings Released of Aston Martin Residences, Sales Center to Open Tonight (6/22/17)
New renderings of Aston Martin Residences have been released just as they prepare to open their brand new, luxurious, three-level gallery style Sales Center. The Sales Center will showcase the signature Aston Martin elements and materials that will be incorporated into the design of the building, along with a $2.5 million limited edition Aston Martin Vulcan, one of only 24 in the world will be on permanent display at the sales center’s entrance. The tower's interiors will feature lighting and handmade detail based on the car in addition to hand-adorned residence door numbers from the same jewelers that place the logo on the hood of Aston Martin cars. The building will features floor-to-ceiling glass with no visible concrete, including glass encased support beams. Units start at $500,000 and range up to $7,000,000 for the "River and Panoramic Residences" part of the building and $14,000,000 to $35,000,000 for the "Penthouses." The ultimate unit will be a triplex penthouse that comes complete with a private pool, helipad and Aston Martin Vulcan.
Ellipsis in Edgewater Approved by Miami's Planning and Zoning, Ready to Break Ground
Ellipsis is coming to Edgewater and is now ready to break ground after gaining approval from Miami's Planning & Zoning Department. The 13-story project is designed by Kobi Karp and will feature 34 units. Ellipsis is under development by One World Properties. Units will range from 756 SF for a 1-bedroom unit to 1,368 SF or a 2-bedroom unit. Check-out our December coverage of Ellipsis' initial application for review by Miami's Urban Development Review Board.