Construction Update: Mast Capital's Rene Gonzalez Designed Louver House Officially Completes in South of Fifth

Mast Capital has completed their first luxury condo development, South-of-Fifth's Louver House. Designed by award-winning Miami-based architect Rene Gonzalez, the 4-story building features 12 residences which pay homage to the rich history of Meridian Avenue. Gonzalez started by preserving the memory of a historic Belvedere bungalow that was once on the Louver House site by creating a louvered bungalow that will be the focal point of the entrance. Mast Capital also brought on artist Michele Oka Doner to create artwork that will hang in the lobby area. The space will be draped with plants from landscape architect Savino & Miller. Only 4 residences remain for sale. Louver House will commence closings mid-August. Buyers, who are predominantly end-users, can now move in and start enjoying their large, landscaped terraces; proximity to the beach; the property’s beach concierge service as well as its neighboring shops and restaurants. Remaining residences start at $2.5 million to $3.1 million. Sales and marketing for the Louver House are exclusively handled by ONE Sotheby’s International Realty.

“We’re excited to finally present Louver House because it has all the key elements buyers are looking for in today’s luxury residential real estate market,” says Camilo Miguel Jr., CEO of Mast Capital. “To us, luxury is about amazing finishes, expansive spaces and the ability to enjoy a sense of privacy. This building offers a unique lifestyle that places residents in one of Miami Beach’s most exciting neighborhoods, but because of its small scale, also serves as an exclusive, family-friendly enclave.”

“The architectural design for Louver House has everything to do with the beauty of the building’s surroundings; we wanted to create a substantial and substantive piece of architecture that pays deference to its environment and urban condition,” says architect Rene Gonzalez.

Construction Update: The Optimum, Coconut Grove's New Arquitectonica Designed Office Development Breaks Ground

Optimum Development USA celebrated the ground-breaking and start of construction of The Optimum, a 5-story, class A office tower in the heart of the Grove. The Optimum is being developed by Optimum Development USA, led by Ricardo Tabet, and was designed by Arquitectonica. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed in 12 to 14 months. 

Construction Update: CANVAS Tops off In Miami's Arts + Entertainment District

CANVAS Condominium from NR Investments has topped off their 37 story residential tower in Miami’s burgeoning Arts + Entertainment District (A+E). The announcement was made August 10, 2017 in tandem with general contractor Stiles Construction and the project’s exclusive broker, Fortune International Realty. Prices for the remaining inventory ranges from $345K to $654K, with sizes encompassing 620 SF to 1,110 SF. With CANVAS being Fannie Mae approved, prospective buyers are able to capitalize on reduced deposit requirements and other benefits of the program, furthering access to millennials and first-time buyers. The sleek, contemporary tower with ocean, bay, sunset and Miami skyline views. In a nod to the surrounding local influence including Wynwood, one of the newly unveiled hallmarks of the tower will be a massive, collaborative installation involving 22 globally renowned street artists and yielding more than 200 original works of art for the building’s residential corridors and common areas. CANVAS is expected to be delivered to residents next spring (2018) after the project originally broker ground in February 2016. 

CANVAS is located at 1630 N.E. 1st Avenue, in the heart of of Arts + Entertainment District. Developer NR Investments and its principals are the founders of the Arts + Entertainment District, an enclave flanked by Wynwood, Edgewater and downtown Miami. At CANVAS, amenities include sunrise and sunset pool decks, a serene indoor/outdoor yoga garden, a state-of-the-art gym, a glass-enclosed racquetball court, Zen spa/sauna treatment rooms, and a multimedia screening and theater facility.

“Buyers have been flocking to this project from across the globe,” said Ron Gottesmann, Principal of NR Investments. “We know this neighborhood presents a great deal of appeal among those looking for a central location in a neighborhood being fueled by the arts – one that puts residents within walking distance of area landmarks and top entertainment venues. For those seeking a second home or primary residence, CANVAS represents the opportunity to be at the epicenter of everything Miami has to offer.”

“What we’ve built in the Arts + Entertainment District has been transformative…and CANVAS is a direct reflection of that,” said Nir Shoshani, Principal, NR Investments.  “Overall, this is an important moment for the city as it is another example of the strong interest among buyers to live in the urban core of Miami and take advantage of its art-infused offerings.”

Enjoy the Top-Off Video Below:

Photos & Video Via Golden Dusk Photography

Tour the Penthouse Collection at Riva Fort Lauderdale Which is Aiming for September Completion

Riva Fort Lauderdale is powering towards completion and sales have continued to be strong, reported to be over 55% sold in May with a penthouse unit recently selling for $3.75 million. Construction is in the home stretch after topping off in February 2017 and is expected to be completed in September. Riva is being developed by Premier Developers who obtained a $65 million construction loan to finance completion of the tower in May. Riva will rise 15-stories and feature 100 condo units ranging in size from 1,538 SF to 8,788 SF and in price from $645,000 to $1.75 million with penthouses starting at $2 million. Amenities include water taxis, state-of-the-art fitness center, ground floor retail with a restaurant, a private dock and a watersports center. Riva is located at 1180 North Federal Highway. 

Upper Penthouse(s)

The recently sold penthouse was located as part of the collection located on the upper half of the building. The 2 story unit has 4,479 SF of interior living space spread over 3 bedrooms with 2 master suites and an additional 2,600 SF of outdoor space including a rooftop deck with a spa and summer kitchen. The unit also features private elevator within the residence, an enclosed garage, and a 35' boat slip with direct river access to the intracoastal. The unit is under contract for $3.75 million. 

River Loft

Riva's premier unit is its unique, 12,085 SF River Loft, which is asking $5.25 million. The 2-story, 4 bedroom, loft-style penthouse unit is located on the 2nd and 3rd floors, just 25' above the Middle River with over 250' of riverfront and 83' of outdoor-space. The unit features an outdoor dining room, summer kitchen, private pool terrace, private 2 car garage, gourmet kitchen, story master suite, and library.

Construction Update: 321 at Water's Edge in Fort Lauderdale to Begin Infrastructure Development on July 31

321 at Water's Edge in Fort Lauderdale has announced that they will begin infrastructure development on July 31 and will go vertical soon after. The 11 story building is being developed by Jeffrey and Samuel Sobel and features 23 condo units with interiors by Steven G. Sales are reportedly over 20% and units are priced starting at $2 million. Units range from 2,600 SF to over 4,100 SF with 3 penthouses that feature an additional 1,434 SF. Units feature floor-to-ceiling glass, expansive living areas, designer kitchens with exclusive Italian furniture, Hansgrohe faucets, quartz countertops and Gaggenau appliances. Amenities include pool with pool bar, jacuzzi, wine tasting room, fitness center with sauna, docks for yachts up to 70'. 321 Water's Edge is located at 321 N Birch Road which is walking distance to the beach and just across from Las Olas Boulevard. 

Construction Update: 3550 South Ocean Breaks Ground, The 1st Residential Project on Palm Beach in Over A Decade

Integrated real estate firm DDG announced earlier this month (July 2017) that construction is officially underway at 3550 South Ocean in Palm Beach after hosting an exclusive ground-breaking ceremony attended by South Palm Beach Mayor Bonnie Fischer, Douglas Elliman Chairman Howard M. Lorber and DDG CEO and Chairman Joe McMillan. The project is a rare new addition to the Palm Beach shoreline. The groundbreaking follows the launch of sales earlier this year; the project is already over 20% sold.

“3550 South Ocean signifies DDG’s foray into Florida and we couldn’t be more excited to see this project come to life as construction gets underway. Between the location, ocean views and selection of amenities, 3550 South Ocean will introduce a new luxury lifestyle to the Palm Beach condominium market,” said Joe McMillan, CEO and Chairman of DDG.

“There has been a strong interest in 3550 South Ocean since sales have launched,” said Howard M. Lorber, Chairman of Douglas Elliman Realty, LLC., whose Douglas Elliman Development Marketing team is the exclusive marketing and sales agent for 3550 South Ocean. “This project has addressed the buyers’ needs for ground-up new luxury homes on the beach with an elevated level of design that this area of Palm Beach has not seen before.”

The 7-story building was designed by local starchitect Kobi Karp in collaboration with Garcia Stromberg of Palm Beach and interiors by Champalimaud of New York. 3550 South Ocean will feature 30 units which come in 2 and 3 bedroom layouts, range in size from 2,700 SF to 3,000 SF and start at $1.875 million. Units will feature private elevator access with private entry foyers, amazing views of the Atlantic Ocean and Intracoastal Waterway, floor-to-ceiling glass, expansive chef's kitchens, and will be delivered move-in ready. A collection of five penthouses will also feature rooftop terraces.

Amenities include private beach access, a beachfront salt water swimming pool and sun terrace, a fitness studio with eastfacing natural light, on-site surf board and stand-up paddleboard storage, private gated access and private parking. Additionally, DDG has a partnership with The Wright Fit, to provide custom, on-demand lifestyle services including in-residence massages, indoor and outdoor private training, and yoga and youth fitness for residents. Ownership perks also include an exclusive relationship with on-demand charter service, Star Jets International which provides residents with custom-tailored concierge jet services, with the resident experience inclusive of door-to-door car transfers, itinerary customization, jet selection, onboard catering and more. Construction is currently under way with KAST as the general contractor. Delivery expected in late 2018. 

Joe McMillan (CEO and Chairman of DDG), Howard Lorber (Chairman of Douglas Elliman Realty, LLC.) [shown left to right]

Construction Update: Auberge Beach Residences & Spa Tops-Off in Fort Lauderdale

Auberge Beach Residences and Spa has officially topped-off the north tower. The north tower is almost sold out, with just 3 residences for sale remaining, and the south tower is over 60% sold. Auberge Beach Residences & Spa features 171 flow-through condominium residences spread over two towers designed by Nichols Brosch Wurst Wolfe & Associates with interiors by Meyer Davis Design Studio. Units feature private elevator access, sunrise and sunset terraces, and floor-to-ceiling glass for unobstructed ocean views. The project is being developed by PRH Fairwinds, a partnership between Related Group, Fairwinds Group and Fortune International. The building's amenities include 2 beachfront swimming pools, full-service spa, 2 restaurants, golf simulator and a state-of-the-art fitness center. Delivery is expected in the summer of 2018.

Sales Update: Renzo Piano's Eighty Seven Park Passes 60% Sold, To Break Ground Next Month

Terra's Eighty Seven Park in Surfside, designed by the legendary Renzo Piano, is reporting that pre-sales at the tower have passed the 60% mark and the developers are aiming to break ground next month (August 2017). Douglas Elliman Development Marketing is overseeing sales where reportedly among notable buyers is Million Dollar Listing New York's Fredrik Eklund. Eighty Seven Park is a joint venture headed up by Terra with Bizzi & Partners Development, New Valley and Pacific Eagles Holdings Corporation. 

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.

Construction Update: Three MiamiCentral, MiamiCentral's First Office Building, to Open by End of Summer

Three MiamiCentral, the first building to open as part of the 11-acre, mixed-use MiamiCentral initiative by Florida East Coast Industries in Downtown Miami, is expected to open by the end of the summer (2017). The second office building, Two MiamiCentral, is expected to open in the fall (2017). Three MiamiCentral features 90,000 SF of rentable Class A Office Space, 35,000 SF of rentable ground level retail space and is adjacent to the MiamiCentral transit station. Two MiamiCentral will feature 190,000 SF of Class A Office Space with tenants including Ernst & Young, Cisneros, Moss & Associates, Venevision International Enterprises, Fortress Investment Group, Florida EAst Coast Industries and Regus. Rental rates at Two MiamiCentral are around $33 to $35 SF triple net; and $29 per square foot at Three MiamiCentral. MiamiCentral will feature All Aboard Florida's Brightline station for rail service connecting Fort Lauderdale, Palm Beach and Orlando. 

Construction Update: The Related Group & East End Capital Close on $58 Million Construction Loan & Breaks Ground on Wynwood 25

After closing a $58 million construction loan from Bank of the Ozarks, The Related Group and East End Capital have broken ground on Wynwood 25, the area's first major residential project to be built under the 2015 Neighborhood Revitalization District plan's zoning changes. Wynwood 25 is slated to bring 289 rental apartments, a host of embedded amenities, 31,000 square feet of retail and 340 parking spaces to Wynwood. The efficiently-sized units are designed to add desperately-needed reasonably priced living options to the city’s most creative and artistic neighborhood. Projected to rent for under $2,000 per month. East End Capital announced in May that The Related Group has acquired a 50% partnership interest in its Wynwood 25 project and they both co-control the development. 

"Projects like Wynwood 25 are key for the neighborhood to reach its full potential. Wynwood already has some of the city's favorite restaurants, coffee shops and other designations, but we saw a huge demand for urban living options. People have fallen in love with the neighborhood's unique, walkable culture and now it can be their permanent lifestyle. We look forward to setting the stand for all future projects in the area and delivering a project that complements the vibrant and walkable Wynwood Arts District," said Jon Paul Perez, Vice President, The Related Group.

“We are extremely proud to partner with The Related Group, who bring unparalleled development expertise to the endeavor,” said Jonathon Yormak, founder of East End Capital. “More importantly, Related shares our commitment to Wynwood and building a project that contributes to the existing fabric of the community.”

Floorplans will come in studio and one bedroom layouts. Units will feature 10' to 12’ ceilings, luxurious kitchens and bathrooms, and full-sized washer/dryers. Amenities will include a large state-of-the-art fitness center with yoga studio, collaborative work-from-home spaces, a coffee lounge opening onto the building’s 12,000 square foot green courtyard, bike storage, package storage, and dog wash facilities. It will also feature a landscaped roof terrace that includes a pool, barbeque, movie screen, outdoor and covered work areas, and green areas from which to take in the best views in Wynwood. Substantial art programming will be integrated into the building exterior, the paseo and the building interiors, creating a distinctive living experience.

"The vision behind creating the masterpiece of Wynwood 25 was to design a project that truly enhances the creative neighborhood of Wynwood. The Wynwood community is always evolving. Out goal was to create a project that has a sleek and modern design to become an iconic building in this thriving, vibrant community," said Kobi Karp, founder and Principal of Kobi Karp Architecture and Interior Design, Inc.