COVID-19’s impact on the restaurant industry and commercial real estate is beginning to show its ugly face. Just several years after their well received March 2017 opening, Le Sirenuse Restaurant & Champagne Bar at The Surf Club has permanently closed its doors citing the fallout from the COVID-19 pandemic.
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Swire Properties Sells Two Brickell City Centre Office Buildings For $163 Million Amid Pandemic
Swire Properties has sold Two Brickell City Centre and Three Brickell City Centre for a combined $163 million, $630 per square foot, amid the COVID-19 pandemic. Each Class A Office building is roughly 130,000 square feet with the pricing broken down by $80.3 million for Two Brickell City Centre and Three Brickell City Centre sold for $82.7 million.
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Terra And Crescent Heights Break Ground On Canopy Park In South Beach
Terra and Crescent Heights, along with development partner New Valley, have broken ground on Canopy Park, located at the gateway to South Beach at after winning approval from the Miami Beach City Commission last year.
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One Thousand Museum Residences by Zaha Hadid Architects Hits Over $100 Million Of Sales In 2020
One Thousand Museum, Miami's newest ultra-luxury condominium by the late Pritzker Prize-winning Zaha Hadid, has announced over $100 million in sales year-to-date. The building is defying market conditions, outpacing competitors across the city and on track for a record-setting year.
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Second Largest Lot On Allison Island To Hit Market Seeking Record $12.9 Million
A double lot on Miami Beach’s Allison Island will soon hit the market seeking a record $12.9 million. The assemblage is the second largest on the island, only behind Louis Vuitton CEO Michael Burke. The luxury home development site spans 37,800 square feet and features 175’ of water frontage.
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OKO Group Reveals New Townhome Collection At Missoni Baia In Edgewater
Miami-based OKO Group has revealed their new townhome collection at Missoni Baia in Miami’s Edgewater neighborhood. The 57-story waterfront tower is currently under construction rising alongside Biscayne Bay. Missoni Baia’s two-story townhomes will provide buyers with the best of both worlds, the feeling of life in a waterfront home and the amenities of a luxury condominium.
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Neiman Marcus To Close Worth Avenue Location After Filing Chapter 11 Bankruptcy
COVID-19 continues to shake the commercial real estate industry, especially when it comes to retail. The Dallas-based Neiman Marcus Group has announced that they will be will be closing their Worth Avenue location in Palm Beach amid the luxury retailer’s Chapter 11 Bankruptcy Protection Proceedings.
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Star Island Spec Mansion Sells For $49.5 Million In Off-Market Deal
22 Star Island has sold for $49.5 million in an off-market deal after making waves through the Miami real estate community with its whisper price of $65 million. The buyer has requested to remain unnamed. The 17,000 SF spec mansion sits on the northern tip of Miami Beach’s Star Island, an exclusive enclave off of MacArthur Causeway on Biscayne Bay.
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Terra Breaks Ground on Mr. C Residences in Coconut Grove
South Florida developer and President of Terra, David Martin, and fourth generation Cipriani brothers, Ignazio and Maggio, Co-Founders of the Mr. C brand, have officially broken ground on Mr. C Residences Coconut Grove. The 20-story tower, located at 2655 S. Bayshore Drive, will mark the first-ever, large-scale residential project for the Mr. C brand.
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Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million
Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio.
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