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Wyncatcher Development in Wynwood

Expanding Horizons: Morabito Properties’ Wyncatcher Development in Wynwood

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Wyncatcher Development in Wynwood

In the vibrant heart of Miami’s Wynwood Arts District, a new chapter in urban transformation is unfolding. Morabito Properties, led by developer Valerio Morabito, has embarked on an ambitious expansion of their Wyncatcher development, adding another dimension to the dynamic landscape of this iconic neighborhood.

The recent acquisition of an adjacent warehouse at 2150 NW Miami Court marks a significant milestone for Morabito Properties. This strategic move amplifies the firm’s commitment to redefining urban spaces, breathing new life into forgotten structures. With the support of a $35 million loan from BridgeInvest, Morabito Properties is poised to reimagine Wynwood’s skyline, one building at a time.

Wyncatcher is not just a development; it’s a testament to the fusion of creativity and functionality. Designed to blend seamlessly with Wynwood’s artistic flair, Wyncatcher embodies the spirit of adaptive reuse, transforming once-abandoned spaces into thriving hubs of activity. The existing Wyncatcher I, a boutique mixed-use property, is a testament to this ethos, boasting a distinctive facade adorned with murals by acclaimed artist VHILS.

Now, with the addition of Wyncatcher II, Morabito Properties is poised to set new standards in commercial innovation. Collaborating with Vagabond Architecture, known for their expertise in retrofitting existing buildings, the new structure will redefine the concept of contemporary workspace. From dynamic event spaces to cutting-edge offices and vibrant retail outlets, Wyncatcher II will cater to the diverse needs of Wynwood’s burgeoning community.

At the heart of this development lies a commitment to fostering collaboration and growth. Knotel, a flexible workspace operator backed by Newmark, has already committed to leasing Wyncatcher I, signaling confidence in Wynwood’s future as a premier business destination. With its elegant design and prime location, Wyncatcher I promises to be a magnet for innovation and creativity, offering a home for forward-thinking companies seeking to thrive in Wynwood’s dynamic ecosystem.

Valerio Morabito, CEO of Morabito Properties, encapsulates the vision driving this ambitious project. “Wynwood has evolved into a cultural hub where people want to spend their days,” he remarks. “Wyncatcher will be the community for it all.” Indeed, as Wynwood continues to attract millions of visitors annually, the expansion of Wyncatcher heralds a new era of growth and opportunity for this vibrant neighborhood.

BridgeInvest, the financing partner behind this endeavor, shares Morabito Properties’ vision for Wynwood’s future. Managing Partner Alex Horn highlights the synergy between creative financing and innovative development, underscoring the transformative impact of projects like Wyncatcher on the fabric of Wynwood’s urban landscape.

From its humble beginnings as a warehouse district, Wynwood has blossomed into a global destination for art, fashion, and innovation. With leading tech companies and top-tier hospitality offerings, Wynwood is a testament to Miami’s dynamism and diversity. And as the neighborhood continues to evolve, projects like Wyncatcher serve as beacons of progress, reshaping the city’s skyline and redefining urban living for generations to come.

Tyler Herro Pinecrest Listing

Miami Heat’s Tyler Herro Lists Pinecrest Mansion

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Tyler Herro Pinecrest Listing

Miami Heat guard Tyler Herro seems to be making headlines both on and off the court this offseason. With the recent listing of his luxurious 8-bedroom, 9-bathroom Pinecrest mansion for $12.2 million, trade rumors surrounding the young star have reached a fever pitch.

The luxurious mansion, spanning 9,505 square feet, showcases its grandeur and elegance to potential buyers. Initially listed for $13 million in late April, shortly after the Miami Heat’s disappointing loss to the Boston Celtics in Game 1 of the Eastern Conference first round, the price was later reduced to $12.2 million, possibly reflecting strategic considerations or market dynamics.

This lavish estate boasts an array of amenities, including an outdoor kitchen and a “resort-style” pool, creating an ideal setting for relaxation and entertainment. Additionally, the home features an elevator, wine cellar, state-of-the-art kitchen, media room, summer kitchen, and cabana, embodying luxury and sophistication at every turn. Tyler Herro acquired this modern mansion in December 2022 for $10.5 million, setting a record for the highest sale in Pinecrest at the time of purchase.

Interestingly, Herro’s decision to list his mansion comes on the heels of his four-year, $120 million contract extension with the Miami Heat, signed just two months prior. With an additional $10 million in incentives, Herro’s lucrative deal underscores his value and potential in the NBA, further accentuating the significance of his mansion listing in the context of ongoing trade discussions and personal considerations.

Summit Brickell in Miami

Summit Brickell Development Secures FAA Approval, Moves Forward with Updated Plans

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Summit Brickell in Miami

The highly anticipated mixed-use development, Summit Brickell is set to redefine the skyline of Miami’s Brickell neighborhood. Located at 1015 Southwest 1st Avenue, this ambitious project recently achieved a significant milestone by securing approval from the Federal Aviation Administration (FAA). With this approval, the development is poised to rise 765 feet above ground, reaching a total height of 769 feet above sea level at its highest point. Designed by Corwil Architects and developed by Lore Development Group—a joint venture between Brazilian billionaire Daniel Dantas’ Opportunity investment firm and Leste Group—Summit Brickell promises to bring a dynamic blend of residential and commercial spaces to the heart of Miami.

Filed on April 5 and swiftly approved on May 21, Summit Brickell is planned as a 60-story structure with a total floor area ratio (FAR) of 717,740 square feet. The updated plans for the tower to include:

  • 500 residential units
  • 1,583 square feet of commercial space
  • 500 parking spaces

Documents recently filed with Miami-Dade County in April provided updated renderings and plans for Summit Brickell. One of the notable changes is the reduction of the proposed structure from 69 to 60 stories. The updated plans also indicate the elevator bulkhead will now rise to 750 feet, significantly lower than the initially planned 843 feet, falling well within the heights approved by the FAA.

Summit Brickell is currently under review by Miami-Dade County planners as part of its Rapid Transit zoning plan, allowing it to bypass city review. However, a construction permit for the project has not yet been filed with the county.

The project’s material board highlights the variety of architectural features and elements that contribute to the overall design and aesthetic of the structure. Key features include:

  • Fine sand stucco/textured finish used throughout the elevations
  • Horizontal concrete pours/sculpted to exterior walls
  • Impact-resistant guardrail systems
  • Sliding glass doors with impact-resistant aluminum frame and glass
  • Fixed-lite, clear safety glass and impact-resistant guardrail system on balcony rails

Additionally, the building will feature:

  • Impact-resistant glass doors
  • Storm-resistant mesh screens
  • Parking garage breezeway
  • Perforated aluminum garage system panels
  • Decorative metal claddings
  • Aluminum sunshade systems

Summit Brickell will offer various unit types from the 14th through the 58th floor, including studios, one-bedroom, two-bedroom, and three-bedroom floor plans ranging from 500 to 1,418 square feet. The penthouse units on the 59th floor will range from 1,288 to 2,618 square feet. Residents will enjoy amenities on both the 13th floor and the 60th-floor rooftop. The parking garage is designed to occupy floors 2 through 12, ensuring ample space for residents and visitors.

While it remains unclear when the developer plans to break ground on the project, it is still navigating through the approval process, and no permits have been submitted as of May. Initially, groundbreaking for the project was tentatively scheduled for June 2024, with completion expected by summer 2027. However, given the current status, a groundbreaking towards the end of the year seems more likely, with completion potentially extending into late 2027.

Cassia New Construction Coral Gables

Alta Developers Announces New Short-Term Rental-Friendly Condo Project in Coral Gables

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Cassia New Construction Coral Gables

Alta Developers, a prominent Miami-based real estate firm, has officially launched sales for its latest venture, a short-term rental-friendly condominium known as Cassia, located in the vibrant heart of Coral Gables. This announcement marks a significant shift from the company’s initial plans of developing an apartment complex at 4011 Salzedo Avenue.

Originally intended as a multifamily apartment building, the project’s direction shifted about six months to a year ago, amidst challenging market conditions. “The multifamily market is pretty tough today. With interest rates and costs, it’s very difficult to launch a multifamily project,” explained Raimundo Onetto, CEO of Alta Developers. He further noted the sustained demand in the condo market, which influenced the strategic redirection towards developing Cassia as a condo project suitable for short-term rentals.

Cassia is set to rise as a 12-story building offering 174 residential units, with sizes ranging from 662 to 1,439 square feet. The units, which will include options from one to three bedrooms, are priced starting in the $700,000s, stretching up to about $1.8 million. Each condo will be delivered fully finished and furnished, featuring elegant interiors by RH (formerly Restoration Hardware), ensuring a premium living experience.

The development is designed to attract a diverse group of buyers, including foreign investors and families with children attending the University of Miami, as well as medical professionals working at nearby hospitals. “People can use it when they’re here, and when they’re not here they can put it into a management program that allows them cash flow. … This is a great way to start your real estate portfolio,” said Jesse Ottley, President of Development Sales, highlighting the project’s flexibility.

Set to open a sales center this month at 4201 South LeJeune Road, Cassia is strategically located near top shopping destinations like the Shops at Merrick Park and luxury automotive dealer The Collection. The project promises a rich array of amenities including a café, gym, multiple pools, and a landscaped garden on the fifth floor, not to mention a striking $1 million tree sculpture within a serene paseo.

With plans to break ground by year-end, Alta Developers aims to secure construction financing by selling approximately 40% to 45% of the units—roughly 70 units in total. The anticipated loan amount is around $60 million, with construction expected to last about 18 to 20 months.

Alta Developers purchased the 1.5-acre site for $17.5 million in late 2020 from Baptist Health South Florida. The site’s history includes a previous development plan by Ugo Colombo and Masoud Shojaee, which was later sold to Baptist in the wake of a legal dispute.

Cassia represents a significant addition to Coral Gables and South Florida’s growing portfolio of short-term rental-friendly developments, joining other noteworthy projects like 600 Miami Worldcenter and Natiivo Fort Lauderdale. As Alta Developers embarks on this exciting project, Cassia is poised to become a cornerstone of flexible urban living in Coral Gables.

Cassia Coral Gables
The Julia Residences in Miami

Unveiling The Julia Residences in Miami

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The Julia Residences in Miami

Miami’s skyline is a testament to its ever-evolving narrative, each tower a chapter in the city’s vibrant history. And now, a new landmark joins the ranks, marking not just another building but a new beginning for Allapattah. The Julia Residences, standing tall at 14 stories, has officially opened its doors, welcoming its first residents into a world of luxury and convenience.

Developed by Lissette Calderon’s visionary Neology Life Development Group, The Julia Residences represents a $100 million investment in the heart of Miami. With 323 meticulously crafted units and 13,000 square feet of street-level retail space, this towering marvel promises to redefine urban living in the Allapattah district.

Inspired by the legacy of Julia Tuttle, the city’s founding mother and businesswoman, every aspect of The Julia Residences pays homage to her vision and tenacity.

Day one saw 25 eager residents call The Julia home, marking the beginning of a vibrant community that promises too flourish with each passing day.

Behind every great building lies a team of dedicated professionals, and The Julia Residences is no exception. Spearheaded by JAXI Builders, Inc. as the general contractor, with Behar Font Architects lending their expertise in design, and designBAR crafting interiors that blend elegance with functionality. Meanwhile, Witkin Hultz Design has masterfully curated the outdoor spaces, creating lush green retreats amidst the urban landscape.

Strategically located within walking distance of a Metrorail Station and just blocks away from Jackson Memorial Hospital, The Julia Residences offers unparalleled connectivity and convenience. It’s not just a place to live; it’s a gateway to everything Miami has to offer.

But Neology Life Development Group’s vision extends far beyond The Julia. With the impending completion of Fourteen Allapattah Residences slated for Q3 of 2024, the developer is set to further redefine the district’s skyline. With a portfolio boasting over 1,000 apartments recently built or under construction in Miami’s urban core, and plans for an additional 1,600 units in the pipeline.

Rosewood Hotel and Residences

Rosewood Hotel and Residences Reveals $150 Million Penthouse in South Beach

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Rosewood Hotel and Residences

Rosewood Residences, a 17-story luxury condo tower in the heart of Miami’s South Beach, designed by renowned architect Peter Marino. This project includes a record-setting penthouse, poised to be Miami Beach’s most valuable property, with a valuation exceeding $150 million. Scheduled for completion in 2026, this asset represents a rare opportunity in one of the world’s most desirable real estate markets.

The development, a fusion of high-end hotel, restaurant, and residential spaces, spans three acres on 18th Street and Collins Avenue, incorporating the historic Raleigh Hotel. Managed by the prestigious Rosewood Hotels & Resorts, this project is designed to redefine luxury living, offering unparalleled amenities and exclusive experiences.

At $10 million for a three-bedroom residence, with larger and more exclusive units available, the condominium promises substantial returns. The project’s pricing strategy aligns with luxury real estate trends in major cities like New York. The unique location and high-end offerings of this development present a compelling value proposition for discerning investors.

In 2019, developer Michael Shvo, in partnership with Deutsche Finance Group, acquired and envisioned a transformative project for the iconic Raleigh Hotel and adjacent properties. Shvo’s vision, endorsed by Miami Beach’s mayor, combines historic preservation with modern luxury, creating a unique investment proposition.

Peter Marino’s design emphasizes simplicity, elegance, and unobstructed ocean views, offering a refreshing contrast to typical Miami architecture. The building’s design is a testament to innovation, with units featuring high ceilings and premium materials, curated for an elite clientele.

Managed by Rosewood, the Residences promise a lifestyle of unrivaled luxury. Residents will enjoy hotel-style services, including the US outpost of the famed Milanese restaurant Langosteria. This holistic approach to luxury living makes the Rosewood Residences a standout investment in Miami’s property market.

Michael Shvo’s commitment to creating an unmatched product in Florida’s luxury real estate landscape is evident.

Miami Real Estate Market

South Florida’s Luxury Real Estate Landscape: A Glimpse into the Recent Transactions of Industry Titans

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Miami Real Estate Market

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.

Hakimian South Tower

Hakimian South Tower Proposed in Downtown Miami

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Hakimian South Tower

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.

Hakimian South Tower Aerial Rendering
Vita Residences at Grove Isle in Coconut Grove

Vita Residences at Grove Isle Breaks Ground

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Vita Residences at Grove Isle in Coconut Grove

Ugo Colombo of the CMC Group, one of Miami’s most well-known luxury developers, has started construction on Vita Residences at Grove Isle. The opulent boutique condominium is situated on the gated 20-acre private island of Grove Isle, which is close to the city’s fashionable Coconut Grove neighborhood.

The 65 exquisitely designed houses in the seven-story building, which is being constructed on the island’s final remaining beachfront parcel, will showcase unhindered panoramic bay views, exquisite detailing, and the finest materials and craftsmanship. The project is now under construction, and completion is anticipated in 24 to 28 months.

The majority of Vita at Grove Isle’s customers are from America, and more than 40% of the units there have already been pre-sold. The homes will range in size from 2,500 to 6,500 square feet and feature three-, four-, and four-bedroom units with dens. A group of twelve upscale penthouse houses will have private rooftop terraces with full-size swimming pools, full bathrooms, and summer kitchens that are each 3,400 to 6,600 square feet in size. Penthouses start at $12 million, with units starting at $5.5 million.

In order to create one-of-a-kind interior and amenity spaces for Vita at Grove Isle, Ugo Colombo collaborated with international architecture and design firm CallisonRTKL, regional architectural firm S & E Architects, and Italian designers Carlo and Paolo Colombo of A++ Architecture. The three buildings—Mare, Luce, and Sole—are designed to exhibit a singular architectural design and will provide a boutique living environment surrounded by beautiful, local vegetation. The graceful, curving shape of the structure, which was inspired by the island’s natural contours and maximizes views of the glittering Biscayne Bay, is a reflection of its distinctive Grove Isle position.

The waterfront retreat will offer a wide range of carefully chosen interior and outdoor amenities, including a private bayfront pool for residents exclusively, a poolside bar and lounge, a cutting-edge fitness facility, spa, and kids’ play area. Residents of Vita will also be given a house membership to the “Vita at Grove Isle Club,” which has lighted tennis, padel, and pickleball courts in addition to a club pool and a bar nearby. Additionally, residents will have access to the island’s private marina as well as a gourmet restaurant and bar offering lunch, supper, and cocktails that will be open to the general public.

Only the attention to detail in its design matches the level of preparation put into Vita at Grove Isle’s location and facilities. Each home will have a private elevator, a private foyer, modern open concept kitchens with hidden top-of-the-line appliances, elegant bathrooms with hand-selected book matched marble, masterfully crafted Italian stonework, custom Italian cabinetry, and pre-installed smart home technology like lighting, climate control, and water/air filtration systems, as well as at least 10-foot-high ceilings.

In addition to 24/7 valet service, private, individually covered garages with EV charging stations, accessible bike storage, and the most cutting-edge technology and WiFi capabilities installed throughout the building, residents also enjoy additional amenities.

Residents will also profit from Vita at Grove Isle’s personal concierge service, which will be available to help with a variety of arrangements and services, including home provisioning, housekeeping, child and pet care, personal shopping, private events, private drivers and transportation, car detailing, mail collection and forwarding, package deliveries, and more. This service is in addition to Vita at Grove Isle’s restaurant.

Additionally, Vita at Grove Isle residents will have access to the ‘Vita Linc’ app, a digital concierge service, which will enable them to register visitors and give them electronic keys, get in touch with the building’s management, send each other private messages, check on pending and delivered packages, access appliance manuals and condo documents, and request vehicles from valet.

If you or someone you know have an interest in purchasing at Vita Residence at Grove Isle, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.

Shakira Moves to Miami

Shakira is On the Move to Miami

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Shakira Moves to Miami

Shakira has recently relocated to Miami with her children after leaving Barcelona, the hometown of her ex-boyfriend, Gerard Piqué.

The Colombian singer, who lived in Barcelona for eight years, explained in a farewell Instagram post that she was leaving following her breakup with Pique, 36, so she could begin “a new chapter.”

Shakira and Piqué first became acquainted while working on the music video for her song “Waka Waka (This Time for Africa),” which served as the FIFA World Cup 2010’s anthem. In March 2011, the pair announced their relationship for the first time. Last June, they made their breakup public.

Piqué, who was born in Barcelona, had a fruitful career with FC Barcelona, the illustrious team representing the city. Before the defender announced his retirement from the game in November 2022, his teams won eight La Liga championships and three Champions League trophies.

With the recent news of her departure, Shakira has been seen looking at homes across Miami and plans to spend up to $50 million for a mega-mansion.

Pictures of the glam pop diva and her brother visiting more than six potential properties in Florida’s wealthy neighborhoods were captured.

The 46-year-old is apparently renting a $15 million waterfront mansion while searching for a larger place to settle down with her kids Milan and Sasha, ages ten and eight.