Introducing Continuum Club & Residences in Miami’s North Bay Village

We are thrilled to announce the official launch of sales for Continuum Club & Residences, a groundbreaking luxury condominium in Miami’s exclusive North Bay Village. This project heralds the advent of Continuum 2.0 – the second-ever Continuum branded residence. It’s a testament to the visionary prowess of developer Ian Bruce Eichner, who has transformed Miami’s South of Fifth neighborhood into a prestigious community.

This remarkable venture is a collaborative effort between Continuum Company and Aksoy Holdings, the Turkish developer behind The Ritz-Carlton Residences, Bodrum. Their partnership has resulted in the creation of a residential marvel that is set to redefine luxury living in Miami.

Continuum Club & Residences is a splendid addition to Miami’s real estate portfolio, slated to break ground in the winter of 2024. This project will stand as a curvaceous 32-story beacon, featuring 198 residences ranging from one to four bedrooms, including lavish penthouses. With prices starting just under $1,000,000, these homes range from 800 to 4,000 SF, offering unrivaled views of the Atlantic Ocean, Biscayne Bay, Indian Creek, and Downtown Miami.

Ian Bruce Eichner, the Chairman and CEO of Continuum Company, sees North Bay Village as the next South of Fifth – ripe with growth potential. His dedication to pioneering neighborhood evolutions makes this project an exciting opportunity for investors.

The project is a blend of exquisite design and architecture by Arquitectonica, with interiors by Durukan Design and landscaping by Martha Schwartz Partners (MSP). Each residence boasts private terraces, Subzero/Wolf appliances, and luxurious primary baths. Over 50,000 SF of amenities include a waterfront resort pool, marina, indoor fitness studio, resident spa, and much more.

Residents will enjoy a destination waterfront restaurant, private dining room, outdoor dining pavilion, and exclusive Continuum 24/7 Marketplace and Minibar. The development also includes a Continuum Resident’s App, E/V Charging Stations, and Tesla House car for unmatched convenience.

The development caters to all ages with an arcade, virtual lounge, children’s playroom, and outdoor splash pad. For adults, there are workspaces with WiFi, a waterfront boardroom, and an executive lounge. Pet amenities include an outdoor dog park and indoor dog wash and spa.

Continuum Club & Residences is not just a residence; it’s a lifestyle. It’s an opportunity to be part of a community that redefines luxury and convenience.

Monarch Alternative Capital Buys 801 Brickell Office Tower for $250 Million

The 801 Brickell office tower in Miami is being purchased by Monarch Alternative Capital and Tourmaline Capital Partners for roughly $250 million.

This 28-story building is anticipated to close in the next week. According to property records, the building was finished in 1984 and has a total square footage of 695,000 square feet, 415,000 of which are offices. The building was purchased in 2002 for $80.3 million by Nuveen, the financial division of the Teachers Insurance and Annuity Association of America, or TIAA. Over 90% of units at 801 Brickell are leased.

Among the tenants are the bank Cassel Salpeter, the investment business Selvatra, and Swiss Re AGroup. The 7,000 square foot office will be opened in the fourth quarter by BNP Paribas Securities Corporation, a division of the European bank BNP Paribas. Komodo, a restaurant owned by Groot Hospitality, has a location at 801 Brickell as well.

Approximately 60% of the purchase price is being financed by 801 Brickell’s buyers.

Apollo Capital Management, Canadian asset management CI Financial, and private equity company Thoma Bravo are three financial institutions that have recently leased space in Brickell. Also relocating from Chicago to Brickell is billionaire Ken Griffin’s Citadel and Citadel Securities.

Since Griffin’s $286.5 million purchase of the structure at 1221 Brickell Avenue in the summer of last year, Monarch and Tourmaline’s acquisition is the largest office transaction in South Florida.

With some asking rentals over $100 per square foot, the number of tenants has driven Brickell rents to all-time highs. The 801 Brickell acquisition is partially a bet on rental growth at the tower because, according to sources, new leases are signing for over $100 per foot, which is significantly more than the rates for existing leases.

According to its website, Tourmaline is an office investment company created in 2021 that has made $3 billion in deals and has 1.4 million square feet under construction. Brandon Huffman is in charge of it.

The Citigroup Center in downtown Miami, located at 201 South Biscayne Boulevard, is likewise a property owned by Monarch and Tourmaline. The 34-story tower also has CP Group, formerly known as Crocker Partners, is listed as a co-owner.