Lil Wayne Lists Allison Island Mansion for $29.5 Million

Grammy Award winning rapper Lil Wayne is selling his Miami mansion on Allison Island for $29.5 million after purchasing the home in 2018 for $17 million.

The seven-bedroom, nine-bath, and two-half-bath residence located at 6480 Allison Road features 10,632-square-feet of living space with 110 feet of water frontage, a pool, and a cabana. A wine cellar, a movie theater, and a great room with 22-foot ceilings are all included with the mansion.

It is situated on a little more than half-acre, the mansion was created by spec-home developer Laurent Harrari in 2017.

Before purchasing the Allison Island estate, Lil Wayne paid $10 million for a La Gorce Island mansion in 2017.

According to records, in January, Lil Wayne’s Allison Island property’s neighbor, kitchen, bath, and flooring tycoon Alan Courey, sold his beachfront mansion for $16.5 million.

On Allison Island, recent transactions include developer Todd Michael Glaser’s $7.9 million acquisition of a waterfront parcel on the opposite side of the island with partners Scott Robins and Jonathan Fryd. On the property, Glaser intends to erect a 10,000 square foot mid-century modern home.

Triple Tower Development Proposed by Hyatt and Gencom on the Miami River

Hyatt and Gencom Proposed 3 Tower Development

Hyatt and Gencom have recently formed a partnership with the goal to redevelop downtown Miami’s Hyatt Regency into a 3 tower development site located directly on the Miami River. This development is expected to enhance access in and out of the city, and revitalize a major section of Miami’s riverfront.

The proposal calls for a privately funded makeover that includes a reinvented Hyatt Regency hotel with over 1,500 residential apartments, meeting space, and open-air public space along the Miami River.

Three skyscrapers are planned for the site. 682 multifamily apartments, a 615-room Hyatt Regency with over 100,000 square feet of conference space, and 264 serviced apartments will be housed in Towers 1 and 2, which will rise 61 stories.

Tower three, which is expected to have 860 residential units, will be one of South Florida’s highest structures dubbing it a supertall tower. According to a spokesperson of the joint venture, the supertall tower would be 1,049 feet tall, which is the highest height allowed by Miami’s zoning standards.

The towers will be above a podium structure with 190,000 square feet of Class A conference space, which is a 50 percent increase over the James L. Knight Center’s current capacity.

Tower Proposal

1,806 apartments
20,000 sq. ft. of co-working space
615 rooms under the Hyatt Regency hotel brand
190,000 sq. ft. of meeting space
12,000 sq. ft. of food and beverage/retail space
Restaurant and lounge located in a skybridge linking the two shorter towers just 700 ft high
50,000+ sq. ft. of public space
1,100 parking spaces
Rebuilt riverwalk spanning 480 feet
Covered pedestrian bridge connection to Metromover’s Knight Center Station

Arquitectonica is listed as the architect. Construction on the Hyatt Regency Miami property is planned to begin in 2025 if voters approve the project in November 2022.

JMH Development to Build 7 Story Luxury Tower in Miami Beach

The long-awaited Miami Beach condo project by JMH Development can finally move forward after the lawsuit against the developer was dismissed. The lawsuit included the actual condo site where the plans for this new tower would be constructed.

The project has been put on hold for 5 years due to a dispute between the original partnership of Jason Halpern (Managing Partner for JMH Development) and companies owned by Dhruv Piplani. In 2017, Piplani filed suit again Halpren and accused them of selling the property without permission of the co-investors.

When originally purchased, the property was purchased for $7.75 million by 29 ICD LLC, managed by Gerard Longo, who is noted as a longtime business partner of Halpren.

To add fuel to the fire, in 2020, Halpern filed for a $5.25 million mortgage foreclosure against the property. The original case was dismissed due to a breach of contract because PSB Indian Creek failed to make the $800,000 contribution toward the project in 2016.

According to Halpren, “In addition to Justice Masley’s ruling in favor of JMH Development across the board, the court awarded our client attorneys’ fees. This is a big win for our client, and demonstrates the egregious nature of the claims made against them.”

The project itself will be located at 2901 and 2911 Indian Creek Drive in Miami Beach. It is approved to rise up to 7 stories with 22 luxury condo units. The property itself will have to stay under 17,150 square feet and will also feature a rooftop pool, as well as a parking garage for 22 cars.

Groundbreaking Officially Scheduled for District 225

Developers for one of the newest pre-construction towers in downtown Miami, District 225, have officially scheduled the groundbreaking for the third quarter of this year.

The Related Group along with ROVR Development and BH Group have been working tirelessly on the sales ever since the launch of the tower in 2021. Since then the development has 100% sold out.

District 225 will rise 37 stories tall and be built without a parking garage and will also be one of the first tower with direct listings on Airbnb.

The buyers for the tower included domestic transplants, remote workers, and domestic transplants as well as 50% of the buyers coming from South America.

According to Jon Paul Pérez, President of Related, “We launched District 225 as an experiment of sorts. And while we knew this unique product would resonate with buyers, the demand has surpassed even our most optimistic projections. Related has long been at the forefront of trends, and we are proud to once again be at the cutting-edge of the market.”

What makes this project unique is its home-sharing capabilities as well as its resort-style amenities. Siegler Suarez Architects partnered with Meshberg Group will be responsible for the design.

District 225 will total 343 unit spanning over 288,400 square feet with studios to 2 bedroom floor plans. Studio pricing will begin around $350,000 up to $700,000 for the 2 bedroom floor-plans. There will also be 2,297 square feet of commercial space located on the main floor.

District 225 Amenities

Rooftop pool
Fitness center
Indoor/outdoor basketball court
Racquetball court
Rock-climbing wall
Yoga/spinning studio
Coworking spaces
Lounge with billiard tables
Summer kitchen

Residence Amenities

Views of Biscayne Bay and Miami skyline
Fully finished and furnished studios, one-, and two-bedroom residences
9.8-foot-high ceilings
Smart-home technology experience for seamless personalization with the touch of a button
Interiors designed by award-winning interior design firm Meshberg Design
Fully built-out closets in all residences curated by Meshberg Design
Includes integrated audio, video, window treatment, and lighting systems
Equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
Built-in, top-of-the-line washer and dryer
Flooring selections included with specifications recommended by Meshberg Design
Pre-wired for high-speed communications and data connection
Kitchens featuring custom Italian cabinetry curated by Meshberg Design
Smeg appliance package including an integrated, paneled microwave; dishwasher; built-in convection oven; and refrigerator/freezer
Master baths featuring rainfall showerhead and custom Italian vanities
Dornbracht and Duravit bathroom fixtures, features, and accessories

The building will be professionally managed by Atlantic & Pacific, which will have staff educated in all elements of Airbnb hosting, including listing, marketing, maintenance, and cleaning.

ROVR Development and Related Plan to Build 48 Story Tower in Downtown Miami- College Station

College Station by ROVR and The Related Group

The Related Group is at it again with another tower proposed in downtown Miami. Along with the Miami Parking Authority, The Related Group, and ROVR Development are proposing to replace a downtown Miami parking garage with a 48-story development.

On Feb. 2, the Miami Off-Street Parking Board, or MPA, will vote on a 99-year lease and development agreement for the College Station Garage at 190 N.E. Third Street which is very close to Miami Dade College.

When the MPA received an unsolicited proposal for the property in July 2021, the process began. It solicited public bids for the property and received bids from College Station Partners LLC, a joint venture with The Related Group and ROVR Development, as well as Terra of Miami. On January 19, an MPA review committee gave College Station Partners’ bid a higher grade for the development.

The College Station project would include 1.88 million square feet of space and include 1,200 residences, 8,214 square feet of retail space, 33,865 square feet of public service space, 30,000 square feet of amenities, and 1,357 parking spots.

The completed facility would contain the same number of public parking spots as the present garage, which will be demolished. The MPA would own these spaces.

The developer stated that 20% of the units would be affordable housing for seniors earning up to 50% of the local median income, while the other 15% would be worker housing for those earning up to 140% of the area median income. Miami’s current median family income is $39,000.

According to the proposal, the public service space might be used for a fire station or an urgent care clinic to support the downtown’s fast-rising population, including a not-for-profit art’s center.

The units would range from 360 to 1,310 square feet in size. There would be 138 studio apartments, 636 one-bedroom apartments, 354 two-bedroom apartments, and 72 three-bedroom apartments.

The lease is expected to be signed in the first quarter of 2023, taking up to 60 months to construct. The application said that the developers would have to establish alternate parking arrangements for tenants of the adjoining Downtown Lofts I and II condos, which would use this garage for parking, during the construction time.

According to the lease’s proposed financial terms, College Station Partners would pay the MPA $500,000 upfront, about $2 million per year during construction to compensate for missed parking revenue and 10% of the project’s net cash flows for rent following completion. According to the developers, this would equate to a $1.27 billion economic gain to the MPA over the life of the 99-year lease, not including the value of the new public parking garage.

Wynwood’s First Mixed-Use Project with Over 1M Square Feet

L&L Holding Co. and Carpe Real Estate Partners are partnering for one of the largest mixed-use projects to rise in Wynwood. Working with the City of Miami Planning Department, the approval process is officially in the final stages.

Dubbed the name, The Wynwood Plaza, formerly 29N, will be sited on 95 NW 29th Street in the heart of Wynwood. The plan was originally brought in from Miami’s Urban Development Review Board in October where it was recommended for denial. The development team didn’t take no for an answer and continued to work on the board’s concerns over the project.

The concerns of the project included massing along 30th Street and the cross-block passage car access along NW 29th Street. The one-way vehicle passage was refined with a small footprint. One of the mitigations included the midblock access point would be limited to visitor cars managed by the valet.

The project, designed by Gensler, would feature two towers, one 12 and one 8 stories with 509 apartments. There would also be 266,000 square feet of offices, 32,000 square feet of commercial/retail spaces, 688 parking spaces, and 954 bike spaces.

The design itself will incorporate indoor and outdoor spaces that will benefit not only the residents but also the surrounding neighborhood. This design will include 25,000 square feet of a public plaza on the ground floor.

The groundbreaking for the project is scheduled for early this year with an anticipated completion date in 2024.

Aston Martin Residences Construction Update

Aston Martin Residences New Construction

Aston Mar t in Residences is nearing the top off of the 66-story ultra-luxury tower located at 300 Biscayne Boulevard Way. Situated in Downtown Miami, this remarkable tower will be one of the Miami skyline’s most unique towers. Designed by BMA Arquitectos & Asociados with Revuelta Architecture International, the 816-foot tall sail-shaped skyscraper will vertically span 1.9 million square feet making it the 2nd tallest tower in Miami.

With Miami-based developer G&G Business Developments and the general contractor as Coastal Construction, the tower is progressing quickly. In October, the tower had already reached the 63rd floor. Now construction is at the 65th floor with netting taking the place of the floor-to-ceiling windows that will eventually be installed.

Vegetation is currently appearing on the pool deck located on the 55th floor as well. We are also seeing contractors carrying large sheets of floor-to-ceiling glass windows and installing them on the 52nd floor. Most of the mirrored siding/windows have been installed from the main to the 52nd floor. Rebar is also being placed on the perimeter columns of the top-floor penthouses.

Units range from studio to 4 bedroom floor plans with square footage beginning at 698. The largest square footage is 27,191 square feet for a penthouse unit that spans over three floors. Sales for Aston Martin Residences began in 2020 and since then a majority of the inventory has sold. River and Panoramic units start at $750,000 and rise to $8+ million depending on the floor plan and unit location. As for the Sky and Penthouse residences, units begin at $14 million reaching well over $50 million.

Aston Martin Residences Tower Construction

Development Information

Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina

Residence Features

Private service entrance at basement level for all move-ins and personnel
Bulthaup custom cabinetry in kitchens
White marble floors throughout the entire unit and porcelain in all balconies
Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
Gagganeau appliances in all residences: (sizes depends on units)
Duravit wall-mounted toilets in all units throughout the building and bidets in select units
All bathrooms feature marble floorings and walls (Thassos or similar
Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
Italian Bertolotto doors with AGB hardware in all units
Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
Floor soundproofing system installed throughout all units including all bathrooms
Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
German Schuco hardware on sliding glass doors
ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
High-speed elevators going up to 1200 feet per minute
High-speed internet and Wi-Fi hotspots in all common areas
Cast iron pipes and risers avoiding Waterflow noises

Amenities

Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation
Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with a helipad on the rooftop
24-hour valet and covered garage self-parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators
and separate dedicated service elevators
Digital connection to concierge and all building
amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space,
Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow-dry station, pedicure chair,
manicure table, and wash stations

Construction for Aston Martin Residences is expected to be completed in 2022. If you or someone you know have an interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.

Developer Relaunches Sales for Okan Tower in Downtown Miami

Originally launched in May 2018, Okan Tower was put on hold in early 2020 due to the pandemic. Now the developer, Okan Group, is relaunching plans for the development. This comes at a time where international travel has open to the U.S. and new developments are selling out in record time.

Sales have now officially started for the 70-story tower with 163 condos and 263 condo-hotel units. The site located at 555 North Miami Avenue in Downtown Miami will include luxury resort-style amenities, office spaces, entertainment areas, and a 316-key Hilton Hotel.

Prices for units at Okan Tower will begin at $387,000 for the condo-hotel units and $587,000 for the condos and will go up to $2 million. The hotel units will start on the 36th floor with studio to 2 bedroom floor plan options. These floor plans range from 445 to 1,250 square feet.

The condos will then begin on the 51st floor and will feature 1 to 3 bedroom floor plans. These units will have 695to 2,075 square feet of living space.

The tower will also feature 2 floor penthouse with 1,875 to 2,040 square feet of living space.

Okan will also include luxury resort-style amenities.

Amenities

70th floor rooftop pool
Sky deck with cabanas
12th floor lap pool
Club room and lounges
Health and fitness center
Spa
Children’s room
Theater
Wine cellar
Owner’s lounge
Amenity deck on floors 27-30
Cafe
Bars
Conference and meeting space
Ballroom
Spa with a marble Hamman

The developer stated that with the low inventory, now is the perfect time to begin sales and construction of Okan Tower. This will be the developer’s first real estate project ever.

Presales have already started with construction on Okan beginning in 2022. If you or someone you know have an interest in purchasing at Okan Tower, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.

Groundbreaking for Onda Residences Officially Scheduled

Onda Residences Groundbreaking Scheduled

The long-awaited Onda Residences has officially set a groundbreaking date for the beginning of November. According to a press release, the groundbreaking will take place on November 3 at 10:30 am located at 1135 103rd Street in Bay Harbor.

‘Onda Residences will rise 8 stories tall along the shore of Bay Harbor Islands. The tower is designed by award-winning architect Bernardo Fort-Brescia that will harness Italian-style finishes.

‘Onda’ itself in Italian means wave, and that’s exactly the effect the tower will have once seen off the shore. Developers include Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties. The lush landscaping will be designed by Enzo Enea who is responsible for the projects One Ocean and Icon.

This boutique waterfront tower will provide more than 300 feet of bay frontage with a private marina and views of Biscayne Bay and the Atlantic Ocean. The 41 luxury residences feature 2 + den to 4 bedroom options from 1,809 to 3,523 square feet floor plans. There are also 4 penthouses currently available as well.