A new luxury condo is coming to Bay Harbor Islands, as OPUS Bay Harbor has revealed new renderings of the Bermello Ajami-designed boutique waterfront building. The ultra-exclusive offering features only 7 full-floor units and rises 8 stories.
Read MoreBarneys New York To Open First Florida Location As Anchor At Bal Harbour Shops $400 Million Expansion
Barneys New York has announced that they will open their first Florida location as one of the anchor tenants at Bal Harbour Shops $400 million, 350,000 SF expansion. The location will span 53,000 SF and will include the popular Freds at Barneys New York restaurant.
Read MoreFeatured Listing: Kick-Back In This Lavish Condo In St. Regis Bal Harbour Complete With A $400K Chinese Art Collection
Miami is a hotspot for art and this unit is St. Regis Bal Harbour has no shortage for the highly curated, coming complete with a $400,000 Chinese art collection featuring works by Yu Han Xi, Li Gang, Yang Tao, Lui Bolin, Tsui Tin Yun, Stella Shang, Lu Yanpeng, and Irene Kung.
Read MoreBrick O. Real Estate Officially Opens The Ivory On Bay Harbor Islands
Brick O. Real Estate has officially opened their new Bay Harbor Islands condo project, The Ivory, located at 9261 East Bay Harbor Drive. The residential condo building, designed by Frankel Benayoun Bodas Mani Anger, rises 9-stories and features 40 residences. Residences are priced from the low $700,000's to $2.6 million.
Read MoreFeatured Listing: Explore A Palatial, Sophisticated Bal Harbour Full-Floor Penthouse Spread That Spares No Expense to Detail
Step inside this palatial, sophisticated full-floor penthouse spread at The Palace at Bal Harbour. The penthouse features designer finished millwork throughout with direct ocean views. The residence is spread over 7,380 SF spread over 4 bedrooms, 5 full-bathrooms and 1 half-bath.
Read MoreAbility by Acierto Closes on $14 Million Construction Loan For Bijou Bay Harbor
Ability by Acierto just closed on a $14 million of construction loan for Bijou Bay Harbor, their new luxury condominium development on Bay Harbor Islands. The Miami-based LV Lending is providing the financing. Ability by Acierto is led by Juan Carlos Gonzalez and the developer broke ground on the 41-unit building located at 9521 East Bay Harbor Drive in December 2016.
Read MoreLegal Drama Ramps Up at Privé a Court Rules Sidewalk Built Through Homeowners Properties As Easement is Illegal
The legal drama at Privé at Island Estates as Circuit Court Judge William Thomas has ruled that the sidewalk, built through homeowners’ properties, is illegal. Thomas ruled that the sidewalk, which was built as a "utility easement," is illegal and is trespass.
Read MoreTerra, New Valley, Great Eagle Holdings and Bizzi & Partners Secure $155 Million In Construction Financing for Eighty Seven Park, Prepare to Commence Vertical Construction
Terra, New Valley, Great Eagle Holdings and Bizzi & Partners, the partners behind Eighty Seven Park, Renzo Piano’s first residential project in the U.S., have finalized a construction loan that will open the door to vertical construction. The loan is for $155 million in construction financing from United Overseas Bank. Terra has reported that the building is now over 60% sold with a sales volume of over $250 million. The start of vertical construction follows initial site work that involved placing 300 foundation pilings into the ground.
“Local and international buyers are responding to Eighty Seven Park’s brand of intelligent luxury, with more than sixty percent of our sixty-six units now sold,” says Terra president and co-founder David Martin. “Eighty Seven Park’s singular location, combined with Renzo Piano’s sophisticated design and the equity we’ve built through pre-construction sales, have created a powerful combination that put us in position to secure construction financing.”
“Buyers seeking oceanfront living in Miami Beach have many options, and Eighty Seven Park is the most desirable among them as evidenced by our sales success,” says Howard M. Lorber, chairman of Douglas Elliman Real Estate and CEO of Vector Group, the parent company of New Valley. “Our project offers the amenities, exclusivity and sophisticated design that today’s most discerning buyers are looking for.”
“IRR Miami’s market forecasts indicate that the only new projects that will get started over the next 24 months are those sponsored by the strongest developers,” explains Anthony Graziano, chairman of Integra Realty Resources and senior managing director for IRR-Miami/Palm Beach. “The strength of Eighty Seven Park lies in its location, design, and the experience of the development team that Terra has assembled. This is another example of Terra’s ability to deliver bold projects in irreplaceable locations.”
Eighty Seven Park is located on Collins Avenue in North Beach at 87th St. and Collins, which is the northern-most parcel of land in Miami Beach. Eighty Seven Park will be an 18 story glass tower with expansive, unobstructed views of the Atlantic Ocean, Miami Beach and Biscayne Bay. The building was designed by famed designer and Pritzker Prize-winning architect Renzo Piano Building Workshop in collaboration with RDAI, West 8 designed the landscape architecture and Ruben and Isabel Toledo will handle branding and marketing material. Eighty Seven Park will feature 68 residences that range from 1 to 5 bedroom layout and 1,400 SF to over 7,000 SF. Pricing ranges from $1.6 million to $15.2 million. There will also be a full-time concierge and butler service, smart home and building technology and five-star amenities including a salon, resort style pool with full-service bar, valet, security, library and on-site enoteca complete with on-site wine tasting. Eighty Seven Park is expected to be completed in 2018.
Saks Fifth Avenue is Considering Leaving Bal Harbour Shops Amid Approved Expansion Plan
Saks Fifth Avenue considering leaving Bal Harbour Shops after a recently approved expansion plan. The plan calls for $400 million of work including 430,387 SF of new retail space with a new flagship anchor location which is expected to become a Barneys New York. The existing Neiman Marcus location will also expand. The expansion plan is being designed by Zyscovich Architects and Whitman Family Development hopes to break ground by the end of 2017 with an expected completion in 2023. Saks Fifth Avenue's opposition to the plan comes amid the developer, Whitman Family Development's, lack of attention and possible expansion that was offered to the Saks location. Saks Fifth Avenue would also lose parking and be forced to rely on valet for customers. Whitman Family Development also owns a minority stake in Brickell City Centre, where Saks Fifth Avenue also just opened up a flagship location.
Thomas Keller, Founder & Chef of Manhattan's Per Se, to Open Concept in Surf Club Four Seasons
Thomas Keller, the award-winning chef who founded Per Se in Manhattan and French Laundry in California, amongst others, will open a new concept in Surfside's Surf Club Four Seasons. Keller has looked at Miami for over five years, finally deciding to open in Surf Club Four Seasons after learning of the project and sites former history and beautiful new construction that has become a stunning additon to the Surfside community. Keller maintains that while his Surf Club Four Seasons concept will be upscale, it will not be another very fine dining restaurant but a more accessible restaurant for all to enjoy. As he told the Miami Herald, “I don’t think I’ll ever open another fine dining restaurant in America. Trying to replicate that energy, I’m not going to do that, not at my age, the Surf Club will not be about my personality.”
Surf Club Four Seasons is a luxury hotel and residential condo project that spans 9 acres with 965 feet of beach frontage. The development includes a 77-room Four Seasons Hotel as well as two 12-story residential buildings with 150 condos. Amenities include four swimming pools, a spa and gym, and 40 beach cabanas. Condo prices range from $3.4 million to $18 million and the project is over 80 percent sold as reported by ISG Miami. Surf Club Four Seasons is expected to open in 2018.