More change is expected in Brickell as the owners of the lot currently occupied by the aging El Eden Motel, located at 115 Southwest Eighth Street, 726 Southwest First Court and 110 Southwest Seventh Street; are working on approvals for a new project. Tony Cho of Metro 1 Development and Robert Finvarb of Robert Finvarb Companies purchased the property last year (2016) for $18.4 million and aim to develop a mixed-use millenial-driven hotel with a retail component via a joint venture partnership. The proposed design will be designed by Arquitectonica, will rise 24-stories, cover 250,000 SF, cost about $90 million, and feature 263 keys. The project is currently in the approval process.
Related Companies Pays $12.2 Million for Equinox & Soul Cycle at Related Group's Brickell Heights
The Related Companies has paid $12.2 million for the commercial space leased to Equinox Club and SoulCycle Studio at Brickell Heights. The Equinox Club is three-stories and 30,000 SF while the SoulCycle studio spans about 6,000 SF. The Equinox Club features its own private pool and tanning area on the Brickell Heights amenity deck accessible only to members.
“The closing of Equinox and SoulCycle units Brickell Heights is another step forward in our efforts to transform South Miami Ave. into a vibrant, pedestrian friendly corridor in the same vein as Lincoln Road. Brickell is thriving, and these closings show a long-term commitment to further establish the area as a bustling neighborhood to live, work and play. Our buyers at both Brickell Heights and SLS LUX are excited about these changes and can’t wait to start living the lifestyle,” said Carlos Rosso, President of the Related Group’s condo division.
The combo fitness clubs are located in Related Group's Brickell Heights, which is a two-tower, 690-unit luxury condominium development that opened earlier this Brickell’s South Miami Avenue. Brickell Heights is located next to Mary Brickell Village, Swire's Brickell City Centre, which opened in late 2016, and SLS LUX Hotel and Residences, a joint-venture between The Related Group, The Allen Morris Company and will be operated by SBE. Brickell Heights includes a three-story, 30,000 SF Equinox Club, as well as a 6,000 SF SoulCycle studio, the first in Brickell. Brickell Heights was designed by Arquitectonica.
Mast Capital + Angelo, Gordon & Co. Purchase Conrad Miami for $72 Million
Mast Capital, a Miami-based investment and development firm, and Angelo, Gordon & Co. have purchased the Conrad Miami from Holborn LC for $72 million. They will operate the hotel as a joint venture and have agreed with HEI Hotels & Resorts to enter the first Conrad Hotels & Resorts franchise agreement within the United States. The flagship Conrad Miami is located with the iconic Brickell Arch Tower. The interest purchased includes 203 hotel keys, a rooftop amenity deck, and a condo-hotel rental program, which currently has 41 out of 116 residential units participating. The Brickell Arch Tower contains 267,000 SF of rentable Class A office, 203 hotel keys, and 116 luxury residential units.
“This property was extremely compelling because of its prominent location on Brickell Avenue and world class architectural design,” said Camilo Miguel Jr., CEO of Mast Capital. “It is exciting to have the opportunity to fully realize the potential of the property. We are confident that the Conrad brand’s concept of smart luxury will be favored by guests and residents for years to come.”
The transaction was facilitated by Christian Charre, Paul Weimer and Natalie Castillo of CBRE Hotels. Mast Capital was represented by Kimberly LeCompte (acquisition), Joel Maser (corporate), Iris Escarra (zoning), Nancy Lash (loan), Nelson Migdal (hospitality) Andrew Sharpe (acquisition) and Brian Dombrowski (zoning) from Greenberg Traurig’s Miami, Washington D.C. and Fort Lauderdale offices. Lauren Giovannone and Michael Bradford from Paul Hastings’ Los Angeles office acted as co-counsel with Greenberg Traurig. The seller was represented by Suzanne Amaducci-Adams and Alexander Roitman (disposition) from Bilzin Sumberg Baena Price & Axelrod LLP’s Miami office.
The Related Group Pays off $160 Million Construction Loan for Brickell Heights Less Than 60 Days After Project Opening
The Related Group has paid off a $160 million construction loan for Brickell Heights less than 60 days after the grand opening of the project. The twin tower, 690-unit towers were 100% sold out and are already nearly 50% closed since the June 7 opening (2017). The $160 million loan was issued by Wells Fargo Bank in April 2015 and is The Related Group’s second loan pay-off in the last year.
“The speed at which we paid off this loan is further validation of our effort to finance these projects in a responsible manner,” said Ben Gerber, Vice President of Finance for The Related Group. “It also speaks to the strength of the Related brand and the South Florida condo market as a whole.”
“Closing is easy after buyers see that today’s Brickell matches up to what they saw in renderings a few years ago. They bought into a walkable, metropolitan downtown lifestyle, and now they’re excited to start living it. We look forward to delivering SLS LUX in the winter and completing our vision for South Miami Avenue.” said Carlos Rosso, President of The Condominium Development Division of The Related Group.
The 47-and 49-story towers were designed by globally acclaimed architectural firm Arquitectonica and interiors by David Rockwell of the Rockwell Group. Amenities include a state-of-the-art fitness center, men's & women's spas, each building has a lounge room, curated art throughout, 4 swimming pools and a garden. The property will also feature a 30,000 SF Equinox Club, as well as a 6,000 SF SoulCycle studio. Brickell Heights marks the third Related Group project to open on South Miami Avenue, following SLS Brickell Hotel & Residences and 1100 Millecento. Photos via TAMZ.
Brickell Flatiron Unveils New Renderings of Their Exclusive Penthouse Collection Series
CMC Group’s Brickell Flatiron and its developer Ugo Colombo have released a limited collection of penthouses as part of their exclusive Penthouse Collection Series. Brickell Flatiron is a 64-story luxury tower designed by Luis Revuelta with interiors by Iosa Ghini that is currently under construction in Brickell. Brickell Flatiron’s newly-unveiled Penthouse Collection, located on floors 50 through 64 of the tower, include expansive single-story residences along with two-story duplex and three-story triplex upper penthouses. Layouts measure up to 6,500 SF and residences will include 10- to 11-foot-high ceilings, premium finishes and fixtures, and panoramic views of the Miami skyline and Biscayne Bay. Two triplex penthouses will feature private terraces with rooftop pools, summer kitchens and changing rooms, as well as private elevator vestibules within each unit providing access to all three levels. Penthouse Collection residences are also designed for maximum functionality including upgraded kitchens featuring Snaidero motorized cabinetry, Miele under-counter wine coolers and integrated appliances, Bosch laundry room appliances, and floor-to-ceiling windows and sliding glass doors. Every penthouse unit is also fully equipped with state-of-the-art technology systems, including a private wireless network and a secure smart-lock system.
Penthouse residences are priced from about $1 million to $2.5 million, with upper penthouse duplex and triplex residences priced from $6 million to $15.5 million. Approximately 60% of the development’s 549 units have already been sold and are under hard contract, with a total sales volume in excess of $300 million. Brickell Flatiron is located at 1001 South Miami Avenue, just blocks from Brickell Avenue, Brickell City Centre and Mary Brickell Village. With its prominent position at the epicenter of the Brickell Financial District, the over 700' building will become one of the tallest residential towers in the U.S. upon its completion in 2019.
“Brickell Flatiron’s penthouse collection will embody the elegance and sophistication of Italian design. We are sparing no detail and no expense to deliver a memorable product offering our residents the highest caliber of quality and design that will withstand the test of time,” said developer Ugo Colombo, founder of CMC Group.
Construction Update: New Renderings of SLS LUX Yabu Pushelberg-Designed Spaces Include Lobby & Katsuya
SLS LUX is cruising towards completion as construction is just about done and is expected to wrap up this winter (winter 2017/18). They have released new renderings that include the Yabu Pushelberg-designed lobby, lush 9th floor garden, dramatic entrance and Katsuya by sbe. SLS LUX is a collaboration between The Allen Morris Company, Related Group and SBE Group. SLS LUX will be a five-star experience with world-class amenities and personalized VIP service. SLS LUX will be a 58-story tower designed by Arquitectonica with a unique LED façade by lighting artist Ana Isabel Martinez. It will feature 450 residences and 85 luxury suites designed by Yabu Pushelberg complete with world-class art. SLS LUX will include private elevators, a wine cellar and cigar room, a rock climbing wall, limousine services to a private beach club, and two ground floor dining experiences, Katsuya and Sbar. The condo/hotel is located right down the street from SLS Brickell Hotel & Residences, and is the more elevated series from the SLS Hotels & Residences brand.
Carlos Rosso and Jorge Perez of The Related Group
The Related Group Celebrates the Grand Opening of Brickell Heights in Style
The Related Group celebrated the grand opening of Brickell Heights, their third tower to open on South Miami Avenue, solidifying the road as the urban center of Downtown Miami and Brickell. Famed Cuban Grammy-award-winning singer/songstress, Cucu Diamantes, while enjoying unparalleled views of the city from Brickell Height's lush pool deck. At the event, attendees had the opportunity to preview the Brickell Heights lifestyle and were invited to tour the stunning David Rockwell-designed interiors and amenity spaces. Guests were also treated to acrobatic performances curated by Equinox, which is set to open Miami’s newest and largest fitness club on-site. Notable guests included Jorge Pérez and Darlene Perez, Chairman, CEO and Founder, The Related Group; Carlos Rosso, President of the Condominium Development Division, The Related Group; Jon Paul Pérez, Vice President, The Related Group; Cucu Diamantes, Grammy-award winning Singer/Songstress; Fabian Burgos, Artist; Omar Rodriguez Graham, Artist; Eduardo Capilla, Artist; George Goodrich, Artist; Gil Dezer, President, Dezer Development.
Cucu Diamantes, Grammy-award winning singer performs
Brickell Heights features 690 condo units spread over two towers. Amenities include a movie theater, numerous party rooms, state-of-the-art fitness centers, gorgeous spas and more. The property features unique pieces by some of the most world’s best known artists, including a striking outdoor mural by Argentine artist Fabian Burgos and original works by Eduardo Capillo, Omar Rodriguez Graham and more. Downtown Miami’s first SoulCycle studio will also occupy a 6,000 SF ground level retail space in addition to a 30,000 SF Equinox. Brickell Heights is adjacent to Brickell City Centre, Brickell's new 2 million square foot mall from Swire Properties as well as SLS LUX Brickell, from Related Group and The Allen Morris Company. Enjoy the gallery of the event courtesy of TAMZ Photography below.
Jorge Perez Introduces Brickell Heights
John Paul Perez, Gil Dezer and Eric Fordin
ZOM Florida and Invesco Real Estate Break Ground on Maizon at Brickell
ZOM Florida and Invesco Real Estate has broken ground on Maizon at Brickell after receiving a $52 million construction loan. Maizon at Brickell will be a Class A luxury high-rise which will feature 262 units. The project is walking distance fromMary Brickell Village, Brickell City Centre, Miami Avenue and Brickell Avenue.
“We are excited to partner with Invesco Real Estate on our first ever development venture together. Our project site has excellent pedestrian access to the numerous retail, entertainment, and employment locations available in Brickell, and is also convenient to downtown Miami via the multi-modal public transportation nearby. Maizon will bring a new level of quality, unit features and amenities to the burgeoning West Brickell neighborhood,” said Kyle Clayton, ZOM Florida’s Development Vice President.
“We are very enthusiastic about the future of the Brickell neighborhood and the Miami market as a whole. Invesco Real Estate looks forward to working with ZOM to deliver a high quality product that will be distinctive in the market. We’re hopeful that the new relationship with ZOM will bring opportunities for future high quality investments benefiting our institutional clients,” said Evan Roth, Acquisitions Director at Invesco Real Estate.
The project will include an 8-story mid-rise and a 19-story high-rise connected at the parking structure. Units are expected to be delivered in Q1 of 2019. The developers originally purchased the property for $16 million. Maizon at Brickell will be designed by MSA Architects, Inc. and Moss is the general contractor on record.
Brickell Financial Centre Gains Approval for Brickell World Plaza
The Brickell Financial Centre has come to an agreement with the Miami-Dade Water and Sewer to supply utilities their new Brickell World Plaza initiative. The project calls for a new 12-story project, followed by a second, 904' tower. The initial, 12-story project will include 7,340 SF of restaurant space, 7,809 SF of office space. The development is expected to expand the pedestrian activity generated by Brickell City Centre and Brickell Mary Village.
Construction Update: Brickell Flatiron Passes 6th Level, On Track for Top-Off in Late 2018
The 64-story Brickell Flatiron from Ugo Colombo's CMC Group is starting to take form as downtown Brickell continues to evolve into a modern, waterfront metropolis. Construction on Brickell Flatiron is being headed up by Moss & Associates who have reached passed the building's 6th floor and expect to reach the 17th floor by the end of 2017. The 736 foot building is expected to top-off in late 2018 and features a distinct, iconic Flatiron shape that was designed by architect Luis Revuelta and interior architect Massimo Iosa Ghini of Italy’s Iosa Ghini Associati.
Brickell Flatiron features 549-unit luxury condominiums with units ranging from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron's amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc. Read about CMC Group closing on their a $236 million construction loan for Brickell Flatiron in April.
