The recent approval of a phased vertical construction permit for Namdar Towers marks a significant development in the Miami real estate. This permit, green-lit on October 12 and issued the following day, sets in motion the construction of a prominent apartment tower in downtown Miami, a project initially proposed in October 2022.
This development is not just a construction project but a strategic investment opportunity. The first phase of construction includes a tower encompassing 680 multi-family rental units, complemented by 5,356 square feet of retail space and a substantial five-floor parking structure. While the main construction permit is still under review, the progress made indicates a strong potential for significant returns on investment.
Looking at the broader scope of the project, hedge fund managers should note the planned expansion to two 43-story towers, as per the UDRB filing. This expansion will further enhance the property’s value, offering a total of 1,394 apartments, 7,984 square feet of retail space, and 336 parking spaces. Such a large-scale development in a prime location like downtown Miami represents a lucrative opportunity for portfolio diversification and growth.
John Moriarty, a name associated with quality and reliability in construction, is the contractor on record for this permit. This association further underscores the project’s potential as a sound investment. For hedge fund managers seeking to expand their real estate holdings, this project offers a blend of scale, location, and quality, making it a noteworthy consideration for portfolio enhancement.
Introducing the Pinnacle of Luxury-The $60 Million Penthouse at The Residences at 1428 Brickell
1428 Brickell has just announced the unveiling of its $60 million architectural marvel: a two-story, fully-finished penthouse that crowns The Residences at 1428 Brickell. This luxurious abode spans over 12,000 square feet, with ceilings reaching an impressive 30 feet, offering a panoramic spectacle of Miami’s glittering skyline, the Fort Lauderdale cityscape to the north, the sprawling Everglades to the west, and the vast Atlantic Ocean to the east and south. Spearheaded by Ytech’s subsidiary, 1428 Brickell, LLC, this Miami-based real estate development is on track for completion in 2027.
Yamal Yidios, CEO of Ytech, has articulated a singular vision: to craft a penthouse residence that would redefine luxury living on a global scale. The Penthouse at 1428 Brickell is poised to become a benchmark of opulence and sophistication.
The design, a masterpiece curated by the renowned Milan-based ACPV ARCHITECTS, led by Antonio Citterio and Patricia Viel, pays homage to the architectural and design giants of the 20th century. The likes of Oscar Niemeyer, Luigi Caccia Dominioni, Angelo Mangiarotti, Charlotte Perriand, and Philip Johnson have inspired a space that is a symphony of light, space, and texture, redefining the essence of luxury.
The penthouse is a showcase of exquisite materials such as silk georgette marble, eucalyptus wood claddings, and fluted glass walls—each element meticulously selected by Ytech’s team from around the globe to meet the highest standards of excellence.
In crafting this residence, the development and design teams have meticulously considered every aspect, from the circulation schemes to the strategic placement of rooms, ensuring a harmonious balance between private and communal spaces. The result is a residence that not only boasts a stone-clad sculptural stairway, the result of over 32 design iterations, but also optimizes natural light, ensuring each room glows with the shifting sunlight, enhancing the stunning city views.
The penthouse’s ambitious layout includes a custom-designed library bar, a master bathroom adorned with Salvatori stone, and a walk-in wine cellar. The kitchen, a work of art in itself, will be crafted by the artisans of Vaselli, with a separate chef’s kitchen designed by Italy’s Arclinea.
The Penthouse at The Residences at 1428 Brickell features two stories with 30-foot ceilings, 7 bedrooms, 9 bathrooms, balconies with unmatched views, and three elevators, including a private one leading to the second floor.
The Residences at 1428 Brickell also offers a collection of homes priced from $2 million to $7 million, with sizes ranging from 1,800 to 4,000 square feet. The Penthouse Collection includes lower penthouses starting at $8 million, with sizes up to 10,000 square feet, all featuring water views and a design that maximizes light and space.
The property will also feature over 80,000 square feet of amenity space, including a 10,000 square foot gym, a rooftop pool, a two-story wine and fine art lounge, and more. These amenities, combined with personalized services such as valet, porter, and in-unit package delivery, set a new standard for luxury living.
Star Holdings Management LLC Submits Plans for the Gateway Development in Miami
In the heart of Miami-Dade County’s bustling Ojus Urban District, a significant development shift is on the horizon. Star Holdings Management LLC, a prominent developer, has recently unveiled revised plans for their ambitious project, the Gateway. Initially envisioned in 2020 as a 12-story mixed-use edifice, the latest blueprints suggest a grander vision: an 18-story tower encompassing over 645,000 square feet.
This revamped design proposes a diverse mix of 210 upscale apartments, cutting-edge office spaces, and vibrant retail outlets. Accommodating the needs of modern urbanites, the development also includes a spacious six-story parking structure with the capacity to house over 400 vehicles. Its strategic location offers unparalleled convenience, being in close proximity to the renowned Aventura Mall.
In a nod to inclusivity and community development, the project earmarks ten percent of its residential units as workforce housing. This initiative not only broadens the project’s appeal but also enhances its initial design. Potential residents can anticipate a range of apartment sizes, from cozy 750 square-foot units to expansive 1,750 square-foot spaces, with configurations ranging from single to three-bedroom layouts.
The Gateway promises more than just living spaces. Residents and visitors alike can indulge in a plethora of communal amenities. The highlight is a lavish seventh-floor deck, complete with a state-of-the-art swimming pool, all set on a sprawling 1.4-acre plot.
The brains behind this transformative project include the esteemed Star Holdings Management LLC as the developer, with legal representation by Attorney Javier L. Vazquez. The architectural marvel that is the Gateway has been conceived by IDEA Architects.
South Florida’s Luxury Real Estate Landscape: A Glimpse into the Recent Transactions of Industry Titans
In the ever-evolving world of South Florida’s luxury real estate market, industry leaders from diverse sectors have recently sealed some notable deals. These transactions span the tri-county region, with property values ranging from a commendable $7.8 million to a staggering $10 million.
In the heart of Miami Beach, renowned actor Marjorie O’Neill-Butler parted ways with her cherished waterfront residence, fetching a price of $8.3 million. The new owners of the property at 603 East Dilido Drive on the Venetian Islands are Marcio Pacheco Ferreira and Luciana Augusto Mattoso Ferreira. Pacheco Ferreira is a distinguished partner and senior portfolio manager at Pharo Management, a hedge fund headquartered in New York City. The property, a classic built in 1935, boasts five bedrooms, three bathrooms, two half-bathrooms, and luxurious amenities like a pool and a dock. It was initially listed for $9.5 million last year.
Venturing further into Miami-Dade County, a prominent figure from Disney’s elite circle, Rich Frank, along with Leslie Frank, invested $8.7 million in a condo situated at Estates at Acqualina. Rich Frank’s illustrious career includes his tenure as president of Disney Studios and later as chairman of Walt Disney Television and Telecommunications. The couple’s current venture is the acclaimed Frank Family Vineyards in Napa. This property has also seen other high-profile transactions, including those by a dairy magnate and a jeweler.
Lastly, in the exclusive Admirals Cove community in Jupiter, financiers Tim Garry and Amanda Link sold their waterfront residence for a cool $10 million. The property, now under the ownership of the CKMH Family Trust, is a modern marvel built in 2020. Garry, a pivotal figure at the New York City-based Senator Investment Group, had initially purchased this property in 2021 for $6.5 million.
These transactions underscore the dynamic nature of South Florida’s luxury real estate market, reflecting the preferences and investment strategies of industry moguls.
Tesla to Open 3rd Florida Sales Center in Miami
The third service and sales facility for Tesla is slated to open in Miami-Dade County. The multi-million dollar project would need to renovate a 78,026-square-foot warehouse that was originally built in 1984.
Additionally, 150 parking spaces are planned, with 2/3 of them being outside the structure. The 5.3-acre construction site was purchased by EV 9900 LLC in late 2021 for $19.75 million. The building wasn’t occupied when it was purchased.
The original structure will be transformed into a service center, showroom, and office space in accordance with Tesla’s concept. This would entail that the facility would be open for the transfer of new cars to owners, the acceptance of end-of-lease vehicles, and the provision of basic services like tire repair and software upgrades.
The project was created by Stantec. It shared conceptual illustrations of a mid-rise glass structure with many web outlets. The proposal will be presented to Miami-Dade city officials on August 23, 2023, according to Tesla North.
If permitted, the business would complement the Tesla service centers that are already located in Delray Beach, West Palm Beach, and Fort Lauderdale. The business may be found in Miami-Dade County at 9950 N.W. 25th St., Miami, FL, 33172. The construction would be located north of Dolphin Expressway.
Hakimian South Tower Proposed in Downtown Miami
A 42-story residential tower with a central location in Downtown Miami has just had its plans submitted to the city’s Urban Development Review Board. Rising 42 floors or 467 feet tall, the Hakimian South Tower is planned to have the following features:
631 residential units
3,140 square feet of commercial space
469 parking spaces on 8 levels
The submittal did not include any plans for the north tower. A property to the north of it is designated for potential development. A 30% parking reduction is among the seven coning waivers that are being asked for.
The architect is Corwil Architects with the developer listed as 16th Street Partners, LLC. The next hearing is scheduled for the Urban Development Review Board on July 19th.
Miami Riverbridge Development Approved
The lease between the City and the joint venture led by Hyatt and Gencom was unanimously authorized by the Miami City Commission with a vote of 5-0. This choice represents an important step forward for the ambitious Miami Riverbridge project at 400 Southeast 2nd Street, paving the way for the revitalization of Downtown Miami’s riverside area.
The agreed lease deal opens the door for joint initiatives between Hyatt and Gencom to improve accessibility, encourage walkability, and bring a variety of offerings to the bustling city. The joint venture may now go forward with finalizing the construction plans in close collaboration with the City thanks to this significant endorsement.
The Miami Riverbridge project has already had resounding public support, garnering an amazing 64% of voters’ approval in the November election. This broad acknowledgment of the project’s transformative potential emphasizes its significance to the local community and visitors alike, sparking excitement for Downtown Miami’s future.Riverbridge in Miami. Credit: Gencom and Hyatt.
Both Phil Keb and James Francque, speaking on behalf of Gencom and Hyatt respectively, acknowledged how grateful they were that the City Commission had approved the lease. They reaffirmed their steadfast dedication to bringing about a great development that satisfies the community’s ambitions while also making a major contribution to Miami’s economic development.
Now that the leasing arrangement is finalized, the Miami Riverbridge project can move forward, realizing the riverfront’s full potential and creating a vibrant urban environment. The joint venture’s goal is to accommodate the rising demand for homes, hotel rooms, and event venues while also bringing in a sizable sum of money for the City in the form of taxes, fees, and ground rent.
Three towers affording residents and hotel visitors sweeping views of Downtown Miami and Biscayne Bay are part of the site’s plans, which were created by Miami-based Arquitectonica. 682 multifamily apartments, a 615-room Hyatt Regency with more than 100,000 square feet of conference space, and 264 serviced apartments will be housed in Towers One and Two, which will rise 61 stories. A Skybridge with an upscale destination restaurant and lounge positioned 700 feet above the city will connect the towers at their highest point. Tower three will rise 1,049 feet in the air and contain 860 residential apartments, making it one of the tallest structures in South Florida.
Michelin Names 8 New Miami Restaurants to The Florida Michelin Guide
Eight new Miami additions to the Florida Michelin Guide were unveiled by Michelin. The Michelin Guide classified the businesses as “New,” encouraging diners to try new and exciting restaurants in Miami.
The yearly Michelin announcement of Bib Gourmands and stars has yet to be released and Michelin occasionally “teases” its annual guides by presenting brief lists in prominent cities.
The announcement was explained in a statement by Gwendal Poullennec, the international director of the Michelin Guides, “We improve our digital tools to further strengthen the bonds that unite us to food lovers. By revealing some of the new additions made by our inspectors throughout the year.”
According to the press release, any of the 8 restaurants on the list may be awarded a Bib Gourmand or star during the annual star ceremony.
It mostly indicates that the Michelin team of inspectors is actively looking for restaurants in Miami to include in the 2023 Florida Michelin Guide. A restaurant also needs to merit its inclusion in the annual guide. Ten restaurants in Miami received one star when the Florida Guide was published in June 2022, giving them a total of 65 spots. The only establishment to be awarded two stars was L’Atelier de Jol Robuchon. The coveted three-star rating only goes to a select few great restaurants like the French Laundry, Alinea, and Eleven Madison Park. No Miami eateries have ever received this honor.
No location or date for the 2023 Michelin Florida Star Reveal Ceremony has been determined. The ceremony was previously Orlando in June 2022.
Michelin Guide Florida: New Miami Additions, February 2023
Brasserie Laurel- French-inspired cuisine inside downtown Miami’s new Miami Worldcenter.
Rosie’s- Brunch garden in Little River with Akino West as Chef.Fiola Miami- Coral Gables Italian restaurant by Michelin-starred, Fiola D.C.
Walrus Rodeo- Wood-fire cooking by the Boia De team.Lido- Surf Club with a champagne bar and delectable Italian food.
Lion & the Rambler- Chef Michael Bolen makes a classic spin on American cuisine.
Tambourine Room by Tristan Brandt- Modern/classic French and Asian inspired dishes.
The Gibson Room- American fare with modern inspired cocktails.
Why Choose Miami for Your Next Real Estate Venture?
The Miami real estate market is one of the most vibrant and dynamic in the country, with a wide range of properties available for buyers, sellers, and investors. Whether you’re looking for a luxurious waterfront mansion, a sleek and modern high-rise condominium, or a cozy single-family home, you’re sure to find something that fits your needs and budget in Miami.
One of the key factors driving the Miami real estate market is its location. The city is situated on the Atlantic coast of Florida, with easy access to beautiful beaches, world-class shopping and dining, and a wide range of recreational and cultural activities. This makes it a popular destination for both residents and visitors, which in turn helps to support a strong and stable real estate market.
Another important factor that contributes to the strength of the Miami real estate market is the city’s diverse and growing population. Miami is home to a large and diverse community of residents from all over the world, which helps to create a unique cultural scene. This diversity also makes Miami a popular destination for international buyers and investors, who are drawn to the city’s unique blend of cultures and styles.
Despite the ongoing global pandemic, the Miami real estate market has remained resilient and continues to thrive. In 2020, the prices for luxury real estate in Miami increased by around 20%, despite the economic downturn caused by the pandemic.
Miami is a fantastic place to buy, sell, or invest in real estate. With its location, growing population, and diverse range of properties, Miami offers something for everyone. Whether you’re looking for a primary residence, a vacation home, or a rental property, Miami is a great place to invest your money in real estate.
Uber and Miami’s Brightline Joining Forces
Uber and Miami-based Brightline have teamed together to give customers more transportation choices throughout South Florida.
The collaboration aims to satisfy client demand and improve Brightline+, a door-to-door service that already offers electric golf carts, airport and event shuttles, and door-to-door transportation.
According to the passenger rail firm, Uber will increase the number of vehicles available to passengers on the Brightline+ network. In the United States, this is the first time Uber has connected to a faster intercity rail service.
The Brightline app or website now allows users to add shared or private Uber rides when purchasing rail tickets. By guaranteeing a driver is waiting curbside to take passengers to their next location, the new in-app booking function aims to eliminate wait periods.
While Smart users can pay to add additional journeys to and from the station without distance limits, Brightline Premium passengers will receive complimentary rides within a 5-mile radius.
The fixed-route and electric vehicle shuttles of Brightline+ will still offer walkup rides. Destinations in Miami Beach, Miami International Airport, and Fort Lauderdale-Hollywood International Airport can all be reached via fixed-route shuttles.
In order to make it simpler for users to reach the stations and destination points, Brightline+ was introduced in 2021. Currently, Miami, Aventura, Fort Lauderdale, Boca Raton, and West Palm Beach all have Brightline stations. This year, it intends to start offering service to Orlando.
