PPG Development, led by Ari Pearl, have acquired Bay Harbor Towers, located at 10141 and 10143 East Bay Harbor Drive. The 1.03-acre property sold for $32 million, which equated to a price of $1,066,667 per existing unit. The transaction was overseen by Cary Cohen of Blanca Commercial Real Estate and Deme Mekras of MSP Group.
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Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo
The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.
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Shoma Group Delivers Mixed-Use Multifamily Shoma Village In Hialeah
Miami-based developer Shoma Group has completed its two-tower, 304-unit multifamily rental community in Hialeah, Shoma Village. They will begin welcoming residents to their brand new apartments on August 1. Leased by KW Property Management & Consulting and managed by Shoma MGMT, the development is 65% rented and expected to be fully leased by the end of summer.
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Macken Companies Secures $16.5 Million Construction Loan For Koya Bay Luxury Waterfront Townhome Community In Eastern Shores, North Miami Beach
Macken Companies has secured a $16.5 million construction loan from LV Lending for Koya Bay, a luxury waterfront townhome community directly on the Intracoastal Waterway within the exclusive neighborhood of Eastern Shores at 4098 NE 167 St. in North Miami Beach. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the loan on behalf of the developer, Alan Macken, principal of Macken Companies.
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Photo credit: The Louis Collection
New Middle Eastern Restaurant Mazeh Opens in Downtown Miami
NYC-based hospitality powerhouse group, GPG Hospitality, has introduced a brand-new Modern Middle Eastern concept to the Miami dining scene with Mazeh, which officially opened its doors to the public July 15th. Located at the sleek and modern YOTEL Miami hotel, Mazeh’s relaxed yet refined ambiance and unparalleled culinary approach will extend a unique modern flair to traditional Middle Eastern cuisine.
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RELATED, ROVR AND BH GROUP BEGIN VERTICAL CONSTRUCTION ON SOLD OUT DISTRICT 225 CONDOMINIUM
Real estate industry leaders Related Group, ROVR Development and BH Group have officially broken ground on the sold-out District 225. Located at 225 North Miami Avenue in Downtown Miami, the 343-unit property is a new luxury condominium tower offering residents the ability to host their condos on Airbnb for any stay length (subject to applicable laws and restrictions). Completion is slated for 2024.
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WeWork Bought Out Of 146,000 SF Lease At 830 Brickell By OKO Group And Cain International
WeWork has been bought out of their lease to occupy 146,000 square feet covering 10-floors at 830 Brickell by developers OKO Group and Cain International. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF representing a 42% rise year-over-year.
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Gazit Horizons And Atlantic Pacific Reveal New Renderings Of Corwil Architects-Designed Brickell Gateway
Gazit Horizons and Atlantic Pacific have revealed new renderings for Brickell Gateway, a proposed 61-story tower set to rise 747’. Located at 90 SW 8th Street on a ½ acre hard corner development site, the current Corwil Architects-designed proposal includes 504 multifamily units, 18,287 SF of retail and 348 parking spaces.
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Major Food Group And JDS Development Part Ways at MAJOR, Rebranded As 888 Miami
Major Food Group (MFG) and JDS Development Group (JDS) have revealed the first images of MAJOR, the highly anticipated 90-story residential and hospitality tower, located at 888 Brickell Avenue. MAJOR will feature 259 custom residences conceived as fully hybrid layouts. Each Major Residence is designed to enable the seamless conversions into Major rooms and suites for guests.
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Carrot Express Aventura Gets an Upgrade Doubling in Size
Miami’s fan-favorite eatery, Carrot Express in Aventura is getting an upgrade and a new location. The health-conscious concept will relocate one block South from their previous outpost which opened in 2018. Their new home will occupy a larger space with revamped interior boasting a bigger dining room and alfresco dining.
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