PROFILEmiami’s Top 5 Of 2017

It’s that time of year again. While most of the United States is stuck in a New Years icebox, the sun is shining bright on Miami. 2017 was a big year for Miami real estate as towers such as One Thousand Museum and  Panorama Tower reached for the sky, pushing Miami’s skyline to new heights while others such as Grove at Grand Bay and Brickell Heights officially opened their doors to residents. The luxury residential market also saw a huge year as many of Miami’s most lavish and exclusive estates hit the market and traded hands for record breaking prices. Here is PROFILEmiami’s Top 5 Moments from 2017:

1. Zaha Hadid's One Thousand Museum Reveals Artefacto Designed Preview Residence 

In November, the Zaha Hadid-designed One Thousand Museum revealed the first look at their uber-luxe "preview residence" furnished by Miami-based Brazilian furnishing brand, Artefacto and designed by Joao Armentano. Artefacto outfitted the fully-built out 17th floor's interiors, fusing Zaha’s futuristic aesthetic with the brand’s signature Brazilian approach to contemporary design. Paulo Bacchi, President and CEO of Artefacto, hand selected items from the brand’s newest collection, which hit showrooms last summer in celebration of their 15th anniversary. The 4,635 SF residence features 4 bedrooms and 5 bathrooms with a half-bath. The unit features elegant and timeless warm tones and clean lines to complement the building’s curvaceous architecture, floor-to-ceiling windows overlooking the bay and Museum Park, and an impressive art collection curated by Sarah Jane Bruce (SJB Fine Art Services) and Flavia Masetto (Flavia Masetto Fine Arts). Once completed the residence sold within days for $6.8 million. Tour the lavish residence here. 

2. Fly Through A Choeff Levy Fischman Designed Palm Island Mansion With A 15’ Waterfall 

Palm Island was hot with news through 2017 including 280 South Coconut Lane on Palm Island hitting the market for $10.8 million and Birdman’s estate falling into bankruptcy, but at PROFILEmiami we have to give the cake to the Choeff Levy Fischman-designed 73 Pam Avenue. 73 Palm Avenue is a 13,676 SF waterfront villa that features 9 bedrooms, 10 bathrooms and 1 powder room. The two-story contemporary also features a private rooftop terrace, disappearing sliding glass doors to optimize indoor/ outdoor living, 15' cascading water feature that empties into a reflecting pond with large stepping-stones creates a floating illusion and greets guests at the home’s main entrance, a statuesque three-story staircase, LED lighting, custom Italian kitchen, Crestron automated smart home, home theater, wine cellar, fully furnished throughout with Minotti, Poliform and other fine furnishings, 4-car garage suites and an elevator. Outdoors, the home features a 2,500 SF roof top terrace with summer kitchen, oversized infinity-edge pool, a secluded hot tub off the master bedroom terrace and 100' waterfront frontage. The home was designed around the giant Banyan tree located near the water in the backyard. 73 Palm Ave. is currently listed for $29,500,000 with Mirce Curkoski and Albert Justo of One Sotheby's International Realty. Tour the spectacular estate here. 

3. PROFILE Exclusive: Inside One Thousand Museum with Louis Birdman, Co-Developer Behind The Uber-Lux, Zaha Hadid-Designed Futuristic Tower

In August PROFILEmiami had the exclusive opportunity to sit down with Louis Birdman, one of the co-developers behind One Thousand Museum by Zaha Hadid Architects, to discuss the futuristic, ultra-luxury, condo tower. Louis tackles everything from working with legendary architect Zaha Hadid, to tackling the luxury market and the unique GFRC exoskeleton design that makes up the tower's unique, skyline changing, iconic design. Take a look inside the mind of one of the masterminds transforming Downtown Miami into a vibrant, modern, world-class city center.

PM: No developer had touched creating ultra-luxury in downtown Miami up until this point. What made you guys say let's be the first?

LB: When we started to see the market coming back. There was a period of time when the market imploded. It wasn’t just a Miami issue, it was a global banking issue. The first real estate market that started to rebound was New York, and shortly thereafter came Miami. The profile of buyers changed dramatically from the last peak in the market, where it was a highly speculative market that lots of investors highly leveraged. This time around, the buyers for condo products, particularly in Miami, were more focused on luxury. They were investors, but they were also end users. With a large flow of capital domestically and in Latin America, Miami has been one of the places that people look to invest in real estate. Continue reading the exclusive interview here. 

4. PROFILE Exclusive: Transforming Coconut Grove with David Martin of Terra

In March PROFILEmiami had the exclusive opportunity to sit down with David Martin, one of the founders of Terra and the mastermind behind Park Grove and Grove at Grand Bay. Find out how he is helping transform Coconut Grove into one of Miami's hottest neighborhoods.

PM: You guys have been integral in transforming Coconut Grove. What do you think of the recent new developments in Coconut Grove and the new energy they have brought?

DM: I think it is about time. I think that the world and the city is realizing a lot of the amazing assets thats Coconut Grove has. It has amazing parks, amazing schools, amazing people. Geographically it is strategically located to a lot of different other neighborhoods as well. Now with the Grove at Grand Bay project that we did, it was big, and now Park Grove with Related, I think that this is developing into a neighborhood with new architecture as well as with some of the old Florida architecture as well. It has a good diversity and design and I think that there is a lot of new restaurants that are coming and a lot of new retail. Coconut Grove is a neighborhood that has a lot of components but it is very quite and peaceful. That quiet innocence is what people are looking for to raise their families, or spend time with their families. A lot of our buyers are empty nesters so they're looking for urbanism and walkability so that tree canopy here and walkability is very important as well. Continue reading the exclusive interview here.

5. Inside PROFILEmiami’s Five Star Stay at The Residences at W Fort Lauderdale

In September PROFILEmiami had the exclusive opportunity to stay at W Residences Fort Lauderdale, located directly on Fort Lauderdale's pristine beaches and the Atlantic Ocean. After a $60 million renovation overseen by Related Companies and Meyer Davis Studio, W Fort Lauderdale is one of the finest options on Fort Lauderdale's seaside A1A strip. The two-tower property features luxurious, nautical private condominium residences and hotel, all with direct ocean views. W Fort Lauderdale’s five-star amenities and services feature a high-end beach club, full-service pools, multiple restaurants and eateries, spa, fitness center, nightlife and full-service staff. Buyers at W Residences Fort Lauderdale are investing in the brand’s lifestyle offerings. They can enjoy the quality service, amenities and hospitality that W Hotels are internationally known for. Whether you are looking for a beachside weekend escape, full-time residence, part-time residence or rental-income property, W Residences Fort Lauderdale is a prime beachfront option. Read PROFILEmiami’s full review of our five-star stay here. 

Featured Listing: Peek Inside the La Gorce Contemporary Asking $3,499,999

Villa Yola 2, a new Eduardo Padro-Fernandez designed contemporary on La Gorce Golf Course is currently asking $3,499,999. The home is 3,250 SF and spread over 4 bedrooms, 4 bathrooms and 2 half-baths. Villa Yola 2 also features a 1,600 SF roofdeck complete with BBQ, high ceilings, pool with jacuzzi, firepit, and is outfit with the latest technology throughout. 5344 Lagorce Drive is currently listed for $3,499,999 with Cassis Burke Colection. 

Featured Listing: Oceanfront Condo Unit in South Beach's Il Villaggio Hits the Market for $3.999 Million

A stunning oceanfront condo unit in South Beach’s Il Villaggio has hit the market for $3.999 million. The The 3 bedroom, 3 bathroom open floor plan is spread over 1,781 SF and also boasts 324 SF of outdoor terrace space. The residence was fully renovated by Sojo Design and is completely turnkey featuring a custom chef's kitchen with Quartzite countertops and backsplashes, complimented by Wolf & Subzero appliances, new bathrooms and showers, private elevator, low maintenance Italian porcelain flooring throughout, custom cabinetry and fully built-out closets. The residence also provides full smart home integration allowing the owner to control the Lutron lights, security cameras, surround sound, electronic window treatments and thermostat from a tablet or phone. 1455 Ocean Drive #1506, Miami Beach is listed for $3.999 million with Devin Kay of Douglas Elliman.

"This stunning full renovation by Sojo Design offers a buyer the ultimate turnkey property located at one of the most prestigious addresses in Miami Beach. This is currently the only residence on the market at Il Villaggio offering a high-end renovated product with all of the modern day amenities, in which a buyer can just bring their clothes and move right in. The desirable flow-through layout offers both direct ocean views as well as the downtown city skyline and sunsets. The attention to detail is simply unmatched," said Devin Kay, Senior Director of Luxury Sales/The Carroll Group at Douglas Elliman.

PROFILE Exclusive: Inside One Thousand Museum with Louis Birdman, Co-Developer Behind The Uber-Lux, Zaha Hadid-Designed Futuristic Tower

PROFILEmiami had the exclusive opportunity to sit down with Louis Birdman, one of the co-developers behind One Thousand Museum by Zaha Hadid Architects, to discuss the futuristic, ultra-luxury, condo tower. Louis tackles everything from working with legendary architect Zaha Hadid, to tackling the luxury market and the unique GFRC exoskeleton design that makes up the tower's unique, skyline changing, iconic design. Take a look inside the mind of one of the masterminds transforming Downtown Miami into a vibrant, modern, world-class city center.

PM: No developer had touched creating ultra-luxury in downtown Miami up until this point. What made you guys say let's be the first?

LB: When we started to see the market coming back. There was a period of time when the market imploded. It wasn’t just a Miami issue, it was a global banking issue. The first real estate market that started to rebound was New York, and shortly thereafter came Miami. The profile of buyers changed dramatically from the last peak in the market, where it was a highly speculative market that lots of investors highly leveraged. This time around, the buyers for condo products, particularly in Miami, were more focused on luxury. They were investors, but they were also end users. With a large flow of capital domestically and in Latin America, Miami has been one of the places that people look to invest in real estate. 

When we saw this resurgence, we zeroed in on this site, which was a former BP station. We always looked at this site as one of the best development sites in Downtown. You have Museum Park with nothing built in front of it, you have great views of the bay and great views of Miami Beach. We had a unique site that a lot of people had interest in and is high-density. We could have put 500 units on it, but instead we decided to scale down the number of units and create an ultra-luxurious property. We wanted to create a type of unit that didn’t exist in the market place. As the market bottomed out and then moved back up, the units that were bringing the greatest premium and spending the least days on market were units that were over 3,000 SF. Less than 5% of the inventory were units over 3,000 SF and many of those were combined or the premium units like penthouses and tower suites; units that made up a small segment of the inventory in Downtown and Brickell. 

We set out to create a building that fit that profile, and started looking at Miami Beach and what people were buying single-family units on the islands (Palm Island, Star Island, Hibiscus Island, Venetian Islands, Sunset Islands), and in the South of Fifth neighborhood. If we were going to attract a buyer that would otherwise be purchasing there, we had to create a building that would attract the top segment of the market. That is how we decided to create this product type in this location. Since we paid a lot of money for the site and wanted to build a few units that were very large, we knew we were going to look at absolute prices just above $5 million. 

PM: Where did the idea and concept to build such an architecturally stunning building come from? When did this all of this start to come together?

LB: Because of the record number of homes being sold over $5 million and $10 million, we felt that there was enough of the market to create that type of inventory but in a luxury high-rise building. That is where the idea of bringing in someone like Zaha Hadid came from. We wanted to bring in an architect that was very high profile, maybe even controversial, who had never done anything in Miami before. Herzog & de Meuron and Rem Koolhaas already had projects here, we didn’t want someone that had already left their mark. We wanted to do something different. 

Zaha was at the top of our list when we created our fantasy list of top architects. We didn’t even know whether she would have any interest or if we could get her to do a high-rise condo in Miami. As it turned out, when we pitched the project to her and her firm, they were immediately interested. Unbeknownst to us she really wanted to do something big in Miami. She had competed to get the Frost Museum of Science, she was one of the architects that submitted proposals and they ultimately went with Grimshaw Architects, a contemporary of hers from the U.K. I think for her own personal reasons it was important for her to do something like this in Miami. It was an opportunity that presented itself at the right time and her style fit our idea to create these large, out-of-the-box units. 

PM: With the New York building that she did as well, 520 West 28th Street, it becomes iconic to where it becomes the “Zaha Building."

LB: Exactly. That project actually came after One Thousand Museum. She was commissioned on that project by Related Companies in New York well after the announcement of this project. We got her into that type of space, and I think Related Companies saw that we got a tremendous amount of PR as a result of getting her to do this project in Miami. They thought it was a good fit for New York. That project is really nice. It is different for that area and on a beautiful site. It is not a high-rise, but it is very unique. You see the building is immediately recognizable as a Zaha design, and I have been there on a typical weekend seeing people on the high-line walk by and take pictures all day. It is very iconic. 

PM: Your background is as an architect…

LB: I’m an architect and moved to the development side in the early 1990s-2000s. On One Thousand Museum, Zaha Hadid Architects did all of the design. With my experience as an architect I am able to participate in the decisions that are being made, but they were given a free hand to design the building as they saw fit. The original design and the final design didn’t deviate very much from Zaha’s original concept.

PM: What have been some of the challenges about building such a unique, artistic structure and all of the teams and moving parts of the project?  

LB: The structure is very complex. We are utilizing a system that has never been used before to build a high-rise building. We are using a pre-cast GFRC, which is a glass-fiber-reinforced-concrete, as formwork to create the construction of the building. This formwork is actually used in the construction and left in place. It is not like typical formwork where you use formwork that you pour concrete then you strip the formwork away. The building from the 15th floor up is utilizing this GFRC as formwork and from the 14th floor down we are using it as a cladding over concrete. The lower portion of the building will be covered with the same material that is used to cover the upper portion of the building. The actual product is being manufactured from the architect’s 3D model that they created in Dubai. 

Examples of the GFRC Panel Exoskeloton 

LB CTND: About 5,000 panels that range anywhere from 2,000 lbs. to 5,000 lbs. are “dryfit” together in Dubai and then shipped to Miami in containers in an ongoing 18-month process. The panels come into the Port of Miami and are taken to a yard in Doral where they are inventoried and checked for damage. The steel cages of rebar are fitted inside 2 GFRC panels together make the column and the brackets that you see on the corner of the building. We bring the put together pieces to the building as we work on each level. It is a process that can go on for almost 2 years from beginning to end. We are completing a floor each week on average and are up to the 50th floor right now.

The process has actually gone really well. One of the concerns we had was what if one of the panels got damaged in shipping or while being hoisted into place. We have only had 3 damaged out of nearly 4,000 panels. One was damaged being put in place and 2 were damaged in shipping to the point where they couldn’t be used. We planned ahead for these obstacles by building the lower part as cast-in-place concrete that would then be clad later, giving us a head start so that we could have 8 or 9+ floors at any one time. That way if something got damaged, we had time to have another panel replacement made and shipped back over here. They can make a panel in about a week to 10 days, but it takes a while to ship it here. We didn’t want to stop and miss a pour because we were waiting for a piece. 

The whole process is being filmed for a documentary by Discovery Channel and PBS called Impossible Builds. We are going to be one of five buildings around the world that are featured in a documentary series that they are doing on buildings that are highly-complex and difficult to build. 

PM: Where does the GFRC start?

LB: It starts on the first half-floor unit right above the townhouse level. The townhouse levels have big 2-story balconies formed by very round holes, which is all done in cladding. It was logistically impossible to do it as formwork. By using this GFRC form process, we are able to create very precise shapes and finishes that we could never get out of cast-in-place-concrete, at least not in a high-rise building. Everyone was wondering how it would come out and the results are really impressive. 

PM: It’s interesting how style and technology can go hand-in-hand.

LB: You could never build a tower like this without the current technology that exists with computers and 3D modeling. Every time they make a change they are modifying the entire 3D model for the building. When we make a change as we are going up in the building, it affects the entire structure. 

PM: How do you think this Park West area of Downtown will change over the next five years and how will One Thousand Museum contribute to this change?

LB: This area is changing at a very fast pace. The big catalysts for this are the numerous public projects. The first big one was the Adrienne Arsht center that goes back about 10 years, but the planning of it began even earlier. There was also Museum Park, which used to be called Bicentennial Park, that was going to be redeveloped to create a whole arts center. The idea of putting museums in the park, came in the early 2000s. This was an area of Downtown that was very unique. It is not often that there is an opportunity to do a major downtown redevelopment and have so much land that was ripe for development all in one place. Miami WorldCenter aggregated almost 32 acres when you add in the former arena site. 5 years from now you are going to see a very mature, developed area of Downtown because Miami WorldCenter already has seven or eight projects under various stages of development. We were the last Biscayne front piece on the park. This whole neighborhood is filling in and from the point of access, we have always felt that this end of the Biscayne corridor is much more suited for the type of intensive development that is going on. The museums are now a reality and the number of visitors that they are getting at the Frost Museum of Science has exceeded everyone’s expectations. There has been discussion about getting Museum Park into a conservancy like Millennium Park in Chicago and Central Park in New York. They have made so many improvements and activated the space for people. You are going to see more of a push to continue to improve the area. 

About Louis Birdman, Co-Developer, One Thousand Museum by Zaha Hadid Architects:

For nearly three decades, real estate industry veteran Louis Birdman has taken a leadership role in the development of over 70 residential projects, comprising more than 18,000 residential units nationwide. Mr. Birdman has a significant background in property acquisitions, dispositions, entitlements, financing, planning, design, construction, sales and marketing. Mr. Birdman has been a principal investor and developer in numerous real estate developments projects throughout Florida and nationwide, including Las Vegas, Arizona, Colorado and Texas. He is also the founder and principal of Louis Birdman Architect, an architectural consulting practice that provides consulting services to developers of real estate in both related and unrelated entities. He has been a registered architect licensed in Florida since 1989 and has held architectural licenses in multiple jurisdictions in the United States, including Chicago, New York and Nevada.

Louis Birdman is currently the Co-Developer of One Thousand Museum by Zaha Hadid Architects, a 62-story, ultra-luxury high-rise condominium Tower in Miami, FL with 83 half-floor and full-floor residences. One Thousand Museum is currently under construction and scheduled for completion in mid-2018, slated to be Miami’s most iconic tower and the centerpiece of Miami’s Museum Park.

The Sales Center at One Thousand Museum

PROFILE Exclusive: Exploring W Fort Lauderdale & The Fast Growth of Fort Lauderdale Beach with ISG Principal Craig Studnicky

PROFILEmiami had the exclusive opportunity to sit down with Craig Studnicky, Principal and Co-Founder of ISG Realty and leads sales at The Residences at W Fort Lauderdale. Take a look inside Related Group and Related Companies $60 million renovation of the iconic property and find out how the Fort Lauderdale Beach real estate market is on the move.

PM: Fort Lauderdale and Fort Lauderdale Beach have seen an influx of high-end condo and hotel developments in recent years. What sets The Residences at W Fort Lauderdale apart?

CS: The W Fort Lauderdale was completed in 2009. It was designed and developed as part hotel and part condo, essentially a condo hotel. A lot of the developments on the ocean in Fort Lauderdale, like Auberge and Paramount, are being developed for the end-user. Auberge and Paramount have typical rental restrictions for end-user condominiums. The Residences at W Fort Lauderdale, by contrast, has the ability to be rented short-term. The original developer designed the W as two towers, with the hotel in the east tower, and the condo residences in the west tower. 

What really sets The Residences at W Fort Lauderdale apart is the flexible use of the units. You can buy a unit as a second home and never rent it, buy it as your permanent residence and live there year-round, or you can buy it as a combination second home and rental property. Most of the people who buy at the W use their condo as a combination of a second home and rental property. When owners are not in town, they sign a management contract with Starwood and Starwood manages the unit as a “hotel residence” which generates income for the owner.

W Fort Lauderdale was acquired by Related in 2014. Related has developed more than 80,000 condos over the past thirty years, and are clearly the largest condo developer in the U.S. After taking ownership, Related decided to do a $60 million renovation to the entire property. The W, Starwood and Related agreed to use New York-based design firm Meyer Davis to head up the redesign. Meyer Davis has also been hired by Related for Auberge Beach Residences & Spa, the Paraiso Bay Beach Club in Edgewater, Park Grove in Coconut Grove and 1 Hotel & Homes in South Beach.  

PM: Do you see a need for more hotel branded residences in Fort Lauderdale?

CS: Absolutely. We are welcoming the Four Seasons, just two blocks north of the W, which promised to break ground this fall. The Four Seasons is the most recent addition to the high-end branded residences in the area, including W Fort Lauderdale and Ritz-Carlton.

PM: So, you guys were selling strong when a lot of other projects were slowing down?

CS: We are selling strong because Fort Lauderdale Beach is selling strong. The pricing gap between oceanfront properties in Miami Beach vs. oceanfront properties in Fort Lauderdale Beach has never been greater, and developers and buyers from around the world have noticed. Historically, the price difference from Miami Beach to Fort Lauderdale Beach has been about 25 to 30 percent, with Miami always getting the premium. Today, Miami Beach is about 200 percent more expensive than Fort Lauderdale Beach.  

In the last three years, $1.5 billion in new development has taken place in Fort Lauderdale, 70 percent of which has already been sold. 

PM: Where do you see most of the buyers coming from? Are there a lot of New Englander’s and New Yorkers who want a second home and like the supplemental income and the ability to show up with their golf clubs?

CS: The United States is the number one market for The Residences at W Fort Lauderdale. The overwhelming majority of buyers are from the northeast, including New York, Boston, Philadelphia, Washington D.C., Chicago but also Canada, Toronto and Montreal. The next market after that is Brazil. Brazilians have discovered Fort Lauderdale and the price difference between Miami Beach and Fort Lauderdale is very appealing to them. They love the beach, and the beach in front of the W is the nicest beach in Fort Lauderdale. Even though the dollar is high, they love the idea of buying into a condo hotel because they get their rental income in U.S. dollars, which is valuable for Brazilians. 

PM: So how did you start to connect with Chinese buyers?

CS: I have owned my company for 25 years and we have done lots of work for developers, but I can honestly say, this is the first time I have ever sold to Chinese buyers. About 18 months ago, I started a division called ISG Asia and currently have 20 Mandarin-speaking agents working with me. A majority of China has not been exposed to South Florida and needs a lot of education on what Florida is and the different markets it includes. They are starting to discover South Florida and interest is rising because Florida is a bargain compared to pricing in Los Angeles, New York and San Francisco. The Chinese are only investing so far, mostly looking for income-producing properties. Of all of the properties I show them, The Residences at W Fort Lauderdale is one that they like the most because of its brand. 

When President Xi visited President Donald Trump at Mar-A-Lago in Palm Beach in April, travel websites from China were completely sold out of availability for Florida. The visit was really big for Florida real estate in terms of introducing Florida to the biggest country in the world. By the end of 2017, we are supposed to have a non-stop flight from Tokyo, and by the end of 2018, we are supposed to have non-stop flights from Beijing and Singapore, which will be a real game changer for South Florida real estate. 

PM: Can they move money freely out of China? How easy is it for them to invest their capital in the United States? 

CS: Currently there is a $50,000 restriction per individual on foreign investments annually, which is a challenge. There are ways of getting around it, but it is very challenging. The Chinese government is watching them very closely at the moment. 

PM: What else does Related Group and Related Companies have in store for Fort Lauderdale Beach?

CS: I think you will see Related develop more high-end condos like Auberge Beach Residences & Spa. The value difference between Miami Beach and Fort Lauderdale Beach makes this Fort Lauderdale’s time.

About Craig Studnicky:

Craig Studnicky is a principal of International Sales Group, ISG, and has been a real estate broker for more than 25 years. Studnicky began his career in New York City as a sales associate in residential real estate for JPS Associates. In 1984, he founded Steven Craig Realty in Atlantic City  where his firm became Atlantic City’s leader in real estate, cornering two thirds of the market. In 1992, Studnicky relocated to Florida to work as Director of Sales for Country Club Estates in Aventura from 1992 to 1994. In partnership with Philip J. Spiegelman, he co-founded International Sales Group. Under Studnickys’ leadership, ISG maintains the areas top-producing sales force who have posted record real estate sales. Studnicky is a licensed real estate broker in states of New Jersey and Florida. He holds a degree from Virginia Tech.

Take our tour of Related Group & Related Companies' $60 million renovation of W Fort Lauderdale HERE