Image via LPG/ The Inside Network/ Alyssa Jansheski
Miami Beach’s exclusive Star Island has emerged as the leader among the most expensive neighborhoods in the United States, leading Port Royal in Naples, FL and Beverly Hill’s Beverly Hills Gateway and Trousdale Estates, according to sales data from Zillow Group Inc. The average home sale on the ritzy island in 2022 traded for $40.2 million, up $16.7 million and 71% from 2019 when the average home sale on the island was $23.5 million.
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The personal Miami Beach waterfront estate of Albert Reichmann, the late billionaire property patriarch of the Reichmann real estate dynasty that built the World Financial Center in New York City, has hit the market for $29.9 million. The Reichmann family, an Orthodox Jewish family who fled Vienna in 1938 and founded Olympia & York Developments, became the largest private owner of commercial real estate in New York City for a period of time.
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As demand for apartment living in Miami Beach continues to reach record levels, Mast Capital, led by Camilo Miguel Jr., in partnership with Rockpoint, have launched its latest multifamily community set to transform the entry to Miami Beach at the intersection of the Julia Tuttle Causeway and Alton Road. Mast Capital and Rockpoint plan to develop a nine-story multifamily development with 178 units, located just off the Julia Tuttle Causeway.
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A recently completed tropical modern spec-mansion on Miami Beach’s exclusive Palm Island has sold for a record $32 million, ringing in as the most expensive sale ever on the island. The buyer was represented by David Pullman with The Waterfront Team at ONE Sotheby's International Realty, while the seller was represented by Lourdes Alatriste with Douglas Elliman.
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South Beach classic award winning seafood hotspot A Fish Called Avalon has revealed its recent renovation at the iconic art deco Avalon Hotel, primed to spearhead the revitalization of Ocean Drive. A Fish Called Avalon first opened in 1989 in the glory days of Ocean Drive’s Art Deco District, becoming one of the most identifiable properties on the strip, and after thirty-three years in operation has become an icon on the beach.
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New York-based restaurant Philippe by Philippe Chow has signed a 15 year lease to occupy the coveted restaurant space at One Ocean South Beach which was acquired by Robert Rivani’s Black Lion Investment Group in November 2022. With plans to open the flagship outpost in Q2 2024, Abraham Merchant and Richard Cohn are bringing the brand's legacy of sophisticated Beijing-inspired dining to One Ocean in the heart of the South of Fifth neighborhood.
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JMH Development, a full-service development firm, has launched sales for Twenty-Nine Indian Creek, a landmark residential project redefining luxury living in one of Miami Beach’s most sought-after neighborhoods. Set to rise at the nexus of Indian Creek Drive and Collins Avenue in the heart of the thriving Faena District, the boutique collection of only 11 private residences are meticulously crafted to deliver a bespoke lifestyle.
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Queen Miami Beach celebrated the grand opening of the new, luxury restaurant and lounge with a sophisticated, black-tie soirée on January 26, 2023. Taking over the iconic Paris Theater revealing its $40 million renovation, attendees were greeted by live statues and interactive performances, ranging from musical ensembles to aerial acrobatics, from Italian-based production NuArt.
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Immerse yourself into a nostalgic world of decadence, glamour, power, and inimitable magnificence at Queen Miami Beach, South Florida’s newest luxury dining experience, set to open February 2nd, in the 5th street corridor of Miami Beach. Celebrating the city’s history, Queen Restaurant & Lounge breathes new life into the iconic Paris Theater, built in 1945 by famed Art Deco architect Henry Hohauser, restoring the property to its original intended glory with over-the-top 21st-century splendor.
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For decades the Shore Club hotel has been an iconic presence on Miami Beach, a three-acre playground in the sand known all over the world. Now the Shore Club’s exciting future as a centerpiece of South Beach for the next century takes a major step forward with the launch of the Shore Club Private Collection, 49 residences designed by Robert A.M. Stern Architects.
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