Tag Archives: condo investments

1428 Brickell Residences

Skyward Bound: FAA Approves Towering Cranes for Miami’s 1428 Brickell Residential Marvel

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1428 Brickell Residences

Miami’s ever-evolving skyline is set to reach new heights as the Federal Aviation Administration (FAA) recently granted approval for the installation of two imposing construction cranes in the bustling neighborhood of Brickell. This monumental decision paves the way for the construction of the 71-story solar-powered 1428 Brickell residential tower, promising to redefine luxury living with its innovative design and sustainable features.

The FAA’s green light signifies a significant milestone in the development of the 1428 Brickell project. These towering cranes, standing at a height of 1,001 feet above ground level, or 1,010 feet above sea level, are poised to dominate the Miami skyline for the next 19 months. Their installation marks the commencement of a transformative journey that will ultimately culminate in the creation of one of Miami’s tallest residential skyscrapers.

What sets the 1428 Brickell tower apart is not only its remarkable height but also its commitment to sustainability. As the world’s first residential high-rise to be partially powered by the sun, this architectural marvel is poised to set new standards in eco-conscious living. With 500 photovoltaic-integrated windows harnessing the power of sunlight, the tower exemplifies the fusion of luxury and environmental responsibility.

The recent commencement of demolition work at the project site marks the beginning of an exciting chapter in Miami’s urban landscape. A 100,000 square foot office building has been vacated to make way for the development, signaling the city’s readiness for a new era of modernity. As construction permits navigate through Miami’s Building Department, including those for demolition, site work, and full vertical construction, anticipation mounts for the imminent issuance of a total demolition permit.

At the helm of this ambitious undertaking is John Moriarty, the esteemed contractor entrusted with bringing the 1428 Brickell vision to life. With a proven track record of delivering iconic structures, Moriarty’s expertise ensures that the project remains on schedule and adheres to the highest standards of quality and safety.

While the completion of the 1428 Brickell tower is slated for 2027, the impact of this architectural marvel will resonate for generations to come. As Miami continues to evolve as a global epicenter of innovation and design, projects like these serve as beacons of progress, pushing the boundaries of what’s possible in urban development.

With the FAA’s approval of towering cranes and the commencement of demolition work, the 1428 Brickell residential tower stands poised to redefine Miami’s skyline. As construction progresses and sustainability takes center stage, this monumental project promises not only to elevate the city’s architectural landscape but also to inspire a new era of eco-conscious living. As Miami looks towards the future, the 1428 Brickell tower serves as a testament to the city’s unwavering spirit of innovation and progress.

Namdar Towers Construction Update

Construction Update for Namdar Towers

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Namdar Towers Construction Update

There has just been a huge new utility agreement recorded that will add roughly 1,400 new apartments to downtown Miami. The agreement will enable Namdar Towers to start construction. The Building Department of Miami is already processing permits for the project.

The contract was signed by Ephraim Namdar on behalf of the development companies 50 North Miami LLC and 222 North Miami LLC, both of which have addresses in North Great Neck, New York. A $1,301,083.65 connection cost is anticipated.

According to a press statement from August, the project has secured a $195 million acquisition and construction loan.

In October, the Namdar Towers project was submitted to the UDRB. Miami’s Building Department is currently reviewing permits for development and demolition.

A 41-story structure with 680 units and a 43-story building with 714 units would make up the proposed Namdar Towers, which would have combined square footage of more than 1.2 million.

This project is planned in 2 phases, the 41-story tower will be part of phase 1 while the 43-story tower will be part of phase 2.

Development Information:

  • 1,394 units
  • Pools
  • Fitness center
  • Bowling rooms
  • Golf simulators
  • Co-working space
  • 7,984 sq. ft. of commercial space
  • 336 parking spaces in a five-level garage
  • 1,395 bicycle racks

The architect is identified as Behar Font. Permitting for construction and demolition is already in progress.

According to its website, Namdar is a family-owned development company that was established in 1979. Ephraim Namdar, who has previously been named in media sources as the company’s founder and CEO, is in charge of running the LLC that bought the Miami property.

Coral Gables Florida

The Constellation Group and Boschetti Group Propose a 15 Story Luxury Tower in Coral Gables

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Coral Gables Florida

A 15-story, mixed-use luxury rental property is now being proposed by the Constellation Group and the Boschetti Group in Coral Gables, located at 4241 Aurora Street.

The proposals will be reviewed by the city’s development review board on Friday, according to Constellation Group Principal Eduardo Otaola. Approximately 70 apartments, 20,000 square feet of office space, 10,000 square feet of retail space, and a 5,000 square foot park would be present at the development site.

The location, which takes up an entire city block, is located west of Ponce de Leon Boulevard and immediately north of the Nordstrom shop at Brookfield Properties’ Merrick Park mall.

The project’s architects are listed as Bernardo Fort-Brescia and Raymond Fort of Arquitectonica, who were chosen by the Miami-based Constellation and Coral Gables-based Boschetti. According to Otaola, the design is the Mediterranean with an “innovation” twist because the location is located within the city’s Design and Innovation Overlay District. The building’s creators are aiming for a Mediterranean-inspired addition.

According to Otaola, they met with the neighborhood to obtain input on the designs and are proposing the taller building in exchange for the park.

According to the developers’ proposal, Constellation and Boschetti are requesting a transfer of development rights at the meeting on Friday that will add 26,000 square feet to the floor area ratio and offer remote parking for around 60 of the 200 required parking places. The developers are being defended by Greenberg Traurig’s lawyer Jorge Navarro.

At 4225 Ponce de Leon Boulevard, an adjacent office and retail complex is also being built by Constellation and Boschetti. It’s anticipated that construction will begin then.

Constellation is expected to close on its share of the property at 4241 Aurora early next year. Property records show Brookfield Properties sold the 0.7-acre site to a Boschetti affiliate in January for $6.1 million.

After going before the development review committee, Otaola said the project will be heard by the Coral Gables Board of Architects. He intends to break ground by the second or third quarter of next year.

Just east of Merrick Park and south of Bird Road in Miami, a number of apartment complexes have already been completed or are in the planning stages. The Watermark at Coral Gables on LeJeune Road and Belmont Village Senior Living next to the Collection dealership are two other high-end senior living projects that developers are currently working on to the north and south of the mall.

According to public records, Boschetti also owns a site close to the Watermark project.

The LifeTime-branded mixed-use multifamily development at 237 South Dixie Highway in Coral Gables was purchased by Hines for $430 million in August.

Gallery at Lummus Parc

Related Group Requesting Permission to Develop Mixed Use Project on Miami River

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Gallery at Lummus Parc

The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.

The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.

The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.

In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.

The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.

The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.

It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.

On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.

Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.

Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.

The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.

The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.

The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.

1755 Kennedy Causeway Waterfront Tower

Developers File Coastline Review for a 30 Story Mixed Use Tower

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1755 Kennedy Causeway Waterfront Tower

In North Bay Village at 1755 Kennedy Causeway, B Developments under the LGE NBV, LLC submitted a request to Miami-Dade County for a coastline review. Arquitectonica was hired by the developer to create a mixed-use structure that would be 345 feet tall, 30 floors tall, and directly face Biscayne Bay.

Due to the property’s frontage on Biscayne Bay and its compliance with Article III, Section 33D of the Miami-Dade County Code of Ordinances, the application is necessary. The coastline setback and side setback are subject to variance requests from the developer. A structure with 30 floors must be 75 feet away from the main shoreline and 25 feet away from the side shorelines, according to the County Code’s setback requirements.

The property can’t be developed strictly in accordance with the criteria due to the tower’s height, the property’s size, and the lot’s proportions. To build in compliance with the site plans, the setback from the beach would have to be decreased to 25 feet, resulting in a 50-foot variance.

The developer is offering to construct a public bay walk behind the property along Biscayne Bay as leverage to get the variances allowed for the project because the County standards cannot be met. On the plus side, the proposal complies with the 2020 Island Walk Design Criteria as well as the North Bay Village Unified Land Development Code.

According to floor designs submitted in February 2022 to the North Bay Village Planning & Zoning Board, the distinctive two-story waterfront restaurant would occupy 19,455 square feet of area between the ground floor and mezzanine level. From the mezzanine level to floors 2 through 5, 8 and 9, the majority of the west podium would be occupied by offices. There are five storeys of parking on the podium’s remaining surface.

On the 6th and 7th floors are the residential amenity levels, which have a landscape deck with three pools, barbecue spaces, fire pits, kids’ splash pads, party lounges, residential lounges, game rooms, sky lobbys, and fitness centers. On the south and west sides of the sixth level, there will be a separate amenity deck that the office tenants can use.

Building Plans Description

  • 473,252 square feet project
  • 201 residential units
  • 32,654 square feet of amenities
  • 19,455 square feet for a 2-story restaurant with a waterfront terrace
  • 1,860 square feet of office space
  • 408 parking space in a parking structure podium

The landscape architect is listed as Arquitectonica and the civil engineer as Kimbley-Horn.

Residential units would start on the 10th level and range in size from 670 to 2255 square feet, including 104 one-bedroom, 83 two-bedroom, 8 three-bedroom, and 6 four-bedroom units.

New Construction on Biscayne Bay by B Developers
710 Edge in Edgewater

Demolition Permit Filed and Renderings Revealed for 710 Edge Tower

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New Construction 710 Edge

In October 2021, developers announced plans for a 55-story tower, 710 Edge that will be located in Edgewater. Months later the plans were approved by the Miami Review Board and now permits have been filed with new renderings attached.

The permit that was filed will allow total demolition of the site which would include several buildings that are currently on the property.

Two adjacent waterfront buildings were submitted on July 29th with one of the buildings as Harbor 29. A total of 16,000 square feet will be demolished costing the developers $151,000.

The second permit is for 530 NE 29th Street which totals 4,590 square feet estimating $25,250.

On both permits, Dade Wrecker Service is identified as the demolition contractor.

The projected height of 710 Edge is 55 stories, or 646 feet (649 feet) above sea level. 710 Edge will include 70 residential units, 193 parking spaces, 16,000+ sq. ft. of commercial and retail, a rooftop helipad, and a public baywalk.

Proposed by 710 Edge LLC, owned by Kevin Venger, Michael Konig, Louis Birdman, and Alex Posth were also a part of the development of One Thousand Museum. Sales have not yet been announced.

710 Edge in Edgewater
710 Edge Tower
YotelPad Rendering

YotelPad Has Officially Opened to Guests

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YotelPad Miami in Downtown Miami

As of yesterday, YotelPad has officially opened to guests for the first time since construction has been completed. Sales for the tower began in late 2020 and the development sold out within 15 months after breaking ground.

Developed in a joint venture between Aria Development Group and AQARAT, YotelPad Miami is located at 227 NE Second Street in downtown Miami. The tower include 231 residential units while the hotel features 222 hotel rooms.

Condo units that range from 417 SF studios to 708 SF two-bedrooms. These units are located on floors 15 through 30. There are also 222 hotel units branded by the Yotel Britsh chain that occupy the lower levels of the tower. 

Although the units have sold out even without a parking garage, prices for the condo units ranged from $450,000 to $500,000 and the developers have confirmed that more than half of the buyers were from China, Mexico, and Columbia.

The units will also feature high-end appliances including an Electrolux washer and dryer, Grohe and Toto bath fixtures, Smart thermostats, Smart Lock System, and custom furniture packages.

Tower Amenities:

  • Elevated deck with pool, hot tub, and bar
  • Full-service restaurant and bar with outdoor paseo
  • Organic matcha bar
  • State-of-the-art fitness center
  • Private meeting rooms with co-working space
  • Valet parking
  • TransitScreen displays all your mobility options,
    in real-time
  • Private residential lobby with destination dispatch elevators
  • 24-hour security and concierge
  • Secure storage unit for each residence
  • Enclosed bicycle storage
  • Skytop Lounge featuring a game area and chef’s kitchen
  • Digital package concierge

Stantec is the architect behind Yotelpad. Each unit offers carefully cultivated floorplans with integrated living and dining areas.  The fully-finished interiors feature contemporary flooring with floor-to-ceiling glass windows with a European kitchen and baths showcase custom cabinetry with stone finishes as well as Smeg Designer Italian appliances. 

Rendering for Major Residences Brickell

First Rendering Revealed of New Supertall Tower by Major Food Group-Major Residences

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Rendering for Major Residences Brickell

JDS Development Group has partnered with Major Food Group to build one of the tallest residential towers in Brickell. Today, the developer has released the first official rendering along with some construction updates.

The project (now renamed 888) will be located at 888 Brickell Avenue with 259 branded units. Rising 82 stories or 1,049 feet tall and just over 1 million square feet in, this will be Major Food Groups’ first residential project.

Studio Sofield is the architect designing the tower, lobby, and units. Ken Fulk Inc. will be responsible for the club, food, and beverage spaces.

With Major Food Group expansion in South Florida with Carbone, ZZ’s, and many more, you can expect to have 2 to 3 Major Food Group restaurants and bars.

Major Food Group has more than 30 restaurants, clubs, and hotels in the United States and overseas. This project is currently being reviewed by Miami-Dade planners for approval.

There are currently 8 supertall towers planned for Miami including:

Aria Reserve Announces Ground Breaking

Construction Begins at Aria Reserve Miami

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Aria Reserve Announces Ground Breaking

Today marked the official start of construction for Aria Reserve Miami with a groundbreaking ceremony. In attendance were the developers, the Melo Group, Mayor Suarez, and many others. The groundbreaking took place near the ocean at the Edgewater site just steps away from the sales center.

Speakers included Guopo Melo, Mayor Suarez, and sales staff for Aria Reserve. Refreshments and appetizers were served along with a mini-presentation of Aria Reserve.

Aria Reserve will rise 62 stories tall reaching 627 feet, making it the tallest twin waterfront residential development in the United States. The project will feature two towers, each with 390 units and 1,608 parking spaces.

Sales for Aria began in June 2021 for South Tower. According to the Melo Group, over $40 million of all 12 penthouses have sold within the first 90 days of the launch. Now more than 90% of the units have sold with a total sales of over $600 million.

Residential units begin at $750,000. Although sold out, the penthouses started at $12 million. Units will feature 1 to 4-bedroom floorplans with 1,100 to 2,600 square feet of options. The penthouses themselves range from 3,500 to 9,000 square feet with each of them featuring a 3-car garage.

Tower Amenities:

  • 2-acre recreation deck
  • Lap pool and spa
  • Gaming center
  • Playground
  • Tennis courts
  • Basketball courts
  • Paddle courts
  • Miniature golf course
  • Wellness center
  • Gym
  • Meditation Garden

Residence Features

  • Unobstructed views of Biscayne Bay and Ocean
  • Finished residences with two flooring options
  • All residences include 2 high-speed elevators
  • All residences include an office/media room
  • All residences are sunrise-sunset flow-through from East to West
  • 3-month seasonal rentals allowed up to 4 times per year

Construction is anticipated to be completed in 2024. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

YotelPad Rendering

Closings Begin at YotelPad Miami

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YotelPad Miami in Downtown Miami

YotelPad Miami is one of the newest condo-hotel developments in downtown Miami. Sales began in late 2020 and the entire tower sold out just 15 months after breaking ground. Now, closings are beginning for the 31-story tower.

Developed in a joint venture between Aria Development Group and AQARAT, YotelPad Miami is located at 227 NE Second Street in downtown Miami.

The tower features 231 residential condo units that range from 417 SF studios to 708 SF two-bedrooms. These units are located on floors 15 through 30. There are also 222 hotel units branded by the Yotel Britsh chain that occupy the lower levels of the tower.

Prices for the condo units range from 4300,000 to $499,000 and the developers have confirmed that more than half of the buyers are from China, Mexico, and Columbia.

Stantec is the architect behind Yotelpad. Each unit offers carefully cultivated floorplans with integrated living and dining areas.  The fully-finished interiors feature contemporary flooring with floor-to-ceiling glass windows with a European kitchen and baths showcase custom cabinetry with stone finishes as well as Smeg Designer Italian appliances.

The units will also feature high-end appliances including an Electrolux washer and dryer, Grohe and Toto bath fixtures, Smart thermostats, Smart Lock System, and custom furniture packages.

Tower Amenities:

  • Elevated deck with pool, hot tub, and bar
  • Full-service restaurant and bar with outdoor paseo
  • Organic matcha bar
  • State-of-the-art fitness center
  • Private meeting rooms with co-working space
  • Valet parking
  • TransitScreen displays all your mobility options,
    in real-time
  • Private residential lobby with destination dispatch elevators
  • 24-hour security and concierge
  • Secure storage unit for each residence
  • Enclosed bicycle storage
  • Skytop Lounge featuring a game area and chef’s kitchen
  • Digital package concierge

According to the sales team, “YotelPad Miami brought the market what it demanded, and to be successful in sales we really had to embrace the local community.”

The hotel side of YotelPad is scheduled to open on June 1, 2022.

YotelPad Rendering