73 Palm Ave. located on Miami Beach’s prestigious Palm Island and designed by Choeff Levy Fischman, has been sold for $24.57 million. The tropical modern mansion offers 9-bedroom and 10.5-bathrooms spread over 14,200 SF with a large rooftop terrace and water views.Read More
Brazilian billionaire developer Jose Isaac Peres of Multiplan Real Estate Asset Management, has proposed 312 Ocean Park in South Beach’s South-Of-Fifth neighborhood. 312 Ocean Park will be a luxury, boutique condo building located at 304 and 312 Ocean Drive, the 11,500 SF lot vacant lot across from Marjory Stoneman Douglas Park.Read More
One Thousand Museum has announced Museum Beach, an exclusive private beach club for residents in South Beach’s South of Fifth neighborhood. The offering is yet another five-star amenity available to residents at the ultra-luxury condo tower designed by Zaha Hadid in Downtown Miami’s Park West neighborhood.Read More
Miami Beach commissioners have officially voted in favor of finalizing the proposed deal with Crescent Heights and its co-founder Russell Galbut to redevelop the former South Shore Hospital site on Alton Road in South Beach.Read More
Miami Beach has struck a deal with Crescent Heights co-founder Russell Galbut to bring a 3 acre park to Alton Road in exchange to allow Galbut to up-zone the old South Shore hospital site in South Beach.Read More
In the highly anticipated election on Tuesday night, Miami Beach residents approved the construction of an 800-room convention center hotel. The referendum needed a 60 percent vote in order to lease public land from the city and passed at 64 percent in its third attempt to bring a headquarter hotel to Miami. The hotel will be built on a city-owned parking lot adjacent to the newly renovated convention center.
The previous attempt in 2016 failed due to concerns over the size, originally twice as large as the current proposal, and traffic congestion. The tourism bureau estimates Miami Beach lost at least $250 million in economic revenue over the last several years because it was unable to accommodate larger scale conventions.
South Beach resident Andres Montejo, 43, said that the convention center hotel was one of the issues that drove him to the polls. Montejo, a businessman who travels frequently for work, said that the other cities he visits already have hotels connected to their convention centers.
“A convention center is great, but without a hotel it’s just another convention center,” he said after casting his ballot at Miami Beach Senior High School. “Anybody that travels ... you know that’s how the game works. It’s like that all over the world.”
Other residents, annoyed with the constant flow of construction and resulting noise and traffic in the area, decided to vote against the hotel.
The hotel will connect to the convention center via a pedestrian bridge and include a 53-foot podium containing parking, meeting spaces and ballrooms as well as two 185-foot-tall wings of hotel rooms. Voters authorized the lease and the construction of an 800-room hotel with a maximum height of 185 feet, but specifics of the hotel design will be evaluated by the city’s Design Review Board at a later date.
The group behind the proposal — Turnberry’s Jackie Soffer, Terra Group’s David Martin, Miami Design District developer Craig Robins and architecture firm Arquitectonica — emphasized that the hotel would be roughly 100 feet shorter than the previous proposal and include six times more space for cars to queue on the property so that they don’t spill onto the street.
“This is the right project for our city at the right time, and Jackie, Craig and I look forward to working with the community to deliver a hotel that will make Miami Beach proud,” said developer David Martin.
On a related ballot item, residents voted to earmark the guaranteed hotel rent payments for traffic reduction measures, stormwater projects and education initiatives, rather than sending the money to the city’s general fund where it could be used for a broader range of expenses.
According to the terms of the lease agreement, the hotel will have to pay Miami Beach either fixed rent totaling $16.6 million over the first 10 years or a percentage of hotel revenue, whichever is greater. Miami Beach estimates that the city will also collect $96 million in taxes from the hotel over the next 30 years.
Article by: Katya Demina
Barry Sternlicht’s Starwood Capital Group has proposed a 6-story office building designed by Gensler on Collins Avenue in Miami Beach. The proposal calls for 136,342 SF of Class A Office Space and 8,088 SF of retail as well as 305 parking spots.Read More
Miami Beach’s Planning & Zoning Department and the Collins Park Neighborhood Association have selected the 28 words which will adorn the façade of the new Collins Park Garage in Miami Beach.Read More
Celebrity restauranteur Myles Chefetz, who is known for turning South Beach’s South of Fifth neighborhood into the luxury enclave it is known as today with his successful and celebrity famed restaurants Prime One Twelve, Prime Italian, Big Pink & Forte De Marmi, has listed his condo in Continuum South Beach for $14 million. Chafetz’s restaurants are frequented by Hollywood A-listers such as Simon Cowell, Owen Wilson, Vera Wang, Kim Kardashian, Kourtney Kardashian, Oprah Winfrey, Bill Clinton, Tom Brady and Giselle Bundschen, Leonardo DiCaprio, Alex Rodriguez, Dwayne Wade etc., and are in walking distance of his Continuum South Beach condo.
The residence spans 3,030 SF of interior space and 1,216 SF of outdoor space spread over 3 bedrooms and 3.5 baths. The residence was custom designed by Briggs Solomon to embody the definition of timeless and cool with no expense spared, featuring furnishings by Christian Liagre and Luminaire. The residence offers planked French roasted Oak flooring, floating baseboards, Porsche lighting, extensive custom millwork, a Boffi Kitchen with all Gaggenau appliances, Bardigilo marble slabs encompassing the master bathroom with TV’s built into the mirrors, an impressive art collection and a fully integrated state of the art savant audio visual system. 50 S Pointe Drive, 3502, Continuum South Beach, is currently listed for $14,000,000 with Eloy Carmenate & Mick Duchon of Douglas Elliman Real Estate.
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320 S Hibiscus has sold for 11.6 million after the former owners donated the luxurious property to Mt. Sinai Medical Center. Douglas Elliman agents Eloy Carmenate and Mick Duchon agreed to a very reduced commission to represent the sale and all proceeds and most commissions earned will be donated to the hospital.Read More