Tag Archives: real estate miami condos

Miami Freedom Park

Miami Freedom Park: A Visionary Urban Development in Progress

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Miami Freedom Park

Miami Freedom Park is rapidly taking shape as a transformative mixed-use development poised to redefine urban living in Miami. Designed by renowned master-planner Arquitectonica, the ambitious 130-acre project is being constructed on the site of a former public golf course and is intended to serve as a model for integrated, sustainable city planning.

According to Arquitectonica, the master plan harmonizes green spaces, cutting-edge design, and dynamic public amenities to create a vibrant community hub that will benefit Miami for generations to come. The development seamlessly blends civic, recreational, and commercial elements, offering a multifaceted environment catering to diverse urban needs.

At the heart of Miami Freedom Park, the highly anticipated stadium for Inter Miami CF is already rising from the ground. This 25,000-seat sporting facility will serve as the focal point of the development, solidifying Miami’s reputation as a premier destination for soccer enthusiasts and furthering the city’s stature in the global sports arena.

In addition to the stadium, Miami Freedom Park will include:

  • 360,000 square feet dedicated to full-service restaurants
  • 240,000 square feet of retail space
  • 750 hotel rooms to accommodate visitors and residents
  • 400,000 square feet of office space, fostering a dynamic business environment
  • A public park equipped with restroom facilities and a capacity for 500 persons
  • Multiple structured parking garages to support the anticipated influx of visitors and residents

Earlier this month, construction commenced on an eight-story, 382,592-square-foot office building, which will function as a City of Miami Administrative Building. This addition underscores the development’s role in enhancing municipal operations while contributing to the area’s overall economic vitality.

With a robust infrastructure plan and a thoughtfully designed layout, Miami Freedom Park is set to become a landmark of modern urban development. By integrating innovative architectural principles with community-centric spaces, this project aims to deliver a premier destination that embodies the future of Miami’s metropolitan evolution.

The HueHub Miami

Breaking Ground: The HueHub Revolutionizing Miami-Dade’s Landscape

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The HueHub Miami

Miami-Dade County is on the brink of a transformative urban development, as plans for a groundbreaking project, The HueHub, have been submitted to local authorities. Named after its vibrant vision and its potential to become a central hub for the community, The HueHub, also known as Holland Park, promises to redefine the Miami skyline and enhance the local lifestyle experience.

The HueHub is set to be a sprawling urban oasis, seamlessly integrating residential, retail, and recreational spaces. With 3,233 residential units, 57,260 square feet of retail space, and a whopping 4,249 parking spaces, this project isn’t just large in scale; it’s a testament to the evolving needs and aspirations of Miami-Dade’s residents.

Designed by the renowned architectural firm Arquitectonica, The HueHub promises to be a striking addition to Miami’s architectural tapestry. Multiple towers will punctuate the skyline, with the tallest soaring an impressive 37 stories high. This ambitious design is set to breathe new life into the area, replacing existing one-story buildings with a dynamic, multi-dimensional urban landscape.

Behind The HueHub stands the 27th Ave Hollandpark Ecoresidences LLC, a developer with a bold vision for Miami’s future. Their commitment to innovation and sustainability is evident in the project’s name, highlighting their dedication to creating eco-friendly living spaces that seamlessly integrate with the surrounding environment.

One of the most exciting aspects of The HueHub is its strategic location within Miami-Dade County. With the North Corridor Metrorail extension along NW 27th Avenue in the pipeline, The HueHub is poised to become even more accessible to residents and visitors alike. A proposed station at 83rd Street, mere steps from the development site, will further enhance connectivity, making it easier than ever to explore everything Miami-Dade has to offer.

As plans for The HueHub continue to unfold, anticipation is building within the Miami-Dade community. This ambitious project has the potential to not only reshape the local skyline but also to create a vibrant, thriving community where residents can live, work, and play.

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.

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
Coral Gables, Florida

Kevin Love’s Miami Real Estate Slam Dunk: Inside the NBA Star’s New Multimillion-Dollar Coconut Grove Home

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Coral Gables, Florida

Miami’s Coconut Grove neighborhood, known for its exclusivity and prestige, has recently welcomed a new high-profile resident: NBA All-Star and Miami Heat power forward, Kevin Love. His recent acquisition of a substantial property in this sought-after area marks yet another instance of NBA players investing in multimillion-dollar Miami homes, a growing trend in the world of professional basketball.

Kevin Love’s latest investment is a spec home located northeast of Main Highway, a location that boasts both prestige and prominence within Miami’s vibrant cityscape. This acquisition, facilitated through a trust, saw Love and his wife Kate secure a substantial $6.1 million mortgage from Morgan Stanley. Despite an asking price of nearly $10 million, the final deal was struck at $9.5 million.

The 6,400-square-foot mansion, completed in 2023 on a third-acre lot, is a testament to luxury and comfort. It features seven bedrooms and an equal number of bathrooms, ensuring ample space for Love, his family, and guests. Adding to the opulence is a wine cellar and a swimming pool, making this property a true symbol of luxury living. The home’s previous owners, a company led by Carlos Fontecilla and Justin Drexler, have passed on a piece of real estate that is nothing short of spectacular.

Since his NBA debut in 2008 with the Minnesota Timberwolves, Kevin Love has been a significant figure in basketball. His move to the Cleveland Cavaliers in 2014 and his recent transition to the Miami Heat, with a two-year, $7.9 million contract, highlight his impressive career. This property investment in Miami not only signifies a new chapter in his personal life but also strengthens his connection to the city and the Miami Heat.

The trend of NBA players investing in Miami real estate is not new. Tyler Herro and Victor Oladipo are among those who have recently acquired properties in the city. LeBron James, a former Miami Heat star, has also invested in the area, purchasing a unit at the Estates at Acqualina in Sunny Isles Beach for $9 million. Kevin Love’s recent investment underscores this growing trend, as Miami continues to attract basketball’s elite with its allure of luxury, lifestyle, and leisure.

New Commercial Development in Miami Beach-The Alton

Norman Foster’s Biophlic South Beach Office Building Project Approved by the Planning Board of Miami Beach

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New Commercial Development in Miami Beach-The Alton

The proposed Alton Road office project in South Beach by developer Shvo was approved by the Planning Board of Miami Beach.

The project is being designed by Pritzker Prize winner Lord Norman Foster and the crew at Foster + Partners using a biophilic approach that was influenced by Florida’s climate and vegetation. Foster and Kobi Karp Architects are listed as the architects involved in the design.

‘The Alton’ and will rise 6 stories with 170,000 rentable square feet, 17,000 square feet of ground floor retail, and 4 luxury residential units.

The hearing before the Design Review Board will take place in October. The Alton’s construction is anticipated to start in early 2024, assuming it is permitted.

Shvo is working with Foster and architect Peter Marino on three Class-A office buildings in Miami Beach, including The Alton, that have a combined square footage of about 400,000. Together with Deutsche Finance America, the developer is committing nearly $2 billion to Miami Beach.

The Alton in Miami Beach
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
Miami Riverbridge in Downtown Miami

Miami Riverbridge Development Approved

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Miami Riverbridge in Downtown Miami

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.

Terra Development Sells Grove at Grand Bay Penthouse

CEO of Terra Group Sells Grove at Grand Bay Penthouse for $17.9 Million

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Terra Development Sells Grove at Grand Bay Penthouse

CEO of Terra Group David Martin recently sold his penthouse at Grove at Grand Bay for $17.8 million.

The 9,541-square-foot, five-bedroom apartment at 2675 South Bayshore Drive was sold under the name GBPH Investments LLC.

Records show that a trust run by James Zubok and Leon Medzhibovsky purchased the penthouse. Medzhibovsky is a partner at DLA Piper and Zubok is a private equity investor.

David Martin’s penthouse had been advertised on and off for years, with a $28 million asking price at one point while the tower was still being built. Eloy Carmenate, Mick Duchon, John Gomes, and Fredrik Eklund brought it back to the market for $25 million in 2018 then for $19.8 million in late 2019. Summer of 2022, the unit was listed at $26 million.

The penthouse unit features 12-foot ceilings, floor-to-ceiling windows all around it, a rooftop pool, and 12-foot doors. Although Martin’s purchase price for the penthouse is unknown, developers frequently receive a sizable discount on their apartments. The price per square foot of the unit was roughly $1,900.

The Bjarke Ingels-designed project, a pair of 20-story twisted towers overlooking Biscayne Bay in Coconut Grove, was constructed by Martin’s Terra. The construction was finished in 2016. Billionaire Mike Fernandez, former baseball star and real estate investor Alex Rodriguez, and Martin’s father, Pedro Martin, have all purchased properties.

Since finishing Grove at Grand Bay, he has collaborated with Jorge Pérez’s Related Group to construct the three Park Grove towers in Coconut Grove and is currently constructing the Mr. C Residences condo towers close by. On the north side of U.S. 1 and 27th Avenue, a mixed-use apartment building with retail space called His Grove Central is also being built.

Outside of Coconut Grove, Terra is involved in a number of projects. The 15.5-acre land owned by Genting Group in downtown Miami is scheduled to be purchased for more than $1.2 billion by a group led by the company and Martin. The transaction, where Martin most likely intends to build a sizable mixed-use community, is anticipated to finalize later this year.

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.