Music mogul and rap superstar Rick Ross has officially closed on 37 Star Island Drive for $35 million. Ross says the purchase was "a major piece to the puzzle" in building his already robust real estate portfolio. 37 Star Island Drive is a 12,374 square foot, 6 bedroom home situated on a manicured 40,000-square foot lot with 100-feet of waterfront on Miami Beach’s exclusive and ritzy Star Island.
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Cher's Former La Gorce Island Home Hits Market For $42.5 Million In Miami Beach
A legacy home on La Gorce Island which was once owned by popstar Cher in the 90’s, has hit the market for $42.5 million. The Spanish contemporary estate is draped in bougainvillea with an idyllic courtyard and was stylishly elevated to modernity by Menin Homes + Designs. The six-bedroom, nine-bathroom abode features grand dual staircases, Brazilian oak flooring and a foyer with ceilings over 19-feet greet you upon arrival.
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Lefferts Files Plans For 72B Miami Beach Luxury Condominium Across From Recently Revealed 72 Park
Just weeks after launching 72 Park in Miami Beach, Lefferts, a real estate development firm with properties in Miami and NYC, has submitted an application submission to Miami Beach’s Design Review Board to develop 72B, a 20-story luxury condominium located just south of Surfside. Tentatively named 72B, the condominium is one of four developments the New York City and Miami-based real estate developer is spearheading in Miami Beach.
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SHVO Locks Down $190 Million In Financing For The Raleigh Hotel & Residences, Miami Beach
SHVO, the ultra-luxury real estate development and investment firm led by Michael Shvo, has secured $190 million in new financing for The Raleigh Hotel & Residences, Miami Beach, a significant milestone in the next chapter of the iconic art-deco storied property. The loan, provided by BH3 Debt Opportunity Fund II, L.P. led by BH3 Management through its opportunistic credit platform, closed earlier this week. Construction is well underway and the property is on-track to open in 2026.
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Elysee Investments Acquires Retail Property Across From Former Deauville Development Site For $5.5 Million
Elysee Investments, one of Miami Beach’s largest retail owners, $5.5 million sale of 6644 Collins Ave. in Miami Beach, an 8,700-square-foot corner retail property with four tenants. The one-story, freestanding building is located directly across the street from the famed, 3.8-acre Deauville Hotel site, which features 500 feet of beachfront. The Deauville Hotel site has made headlines for years as the famed hotel fell into an unsalvageable state before controversially being demolished.
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Alex Witkoff of Witkoff Group and Shore Club Private Collection (Photo by Glen Allsop, Rendering via The Boundary)
Witkoff Group and Monroe Capital Close On Record-Breaking Loan For Shore Club Private Collection
Witkoff Group, a Miami-based development and investment firm, and Monroe Capital, a premier asset management firm, have closed on a $430 million construction loan for Shore Club Private Collection, which is on track to be one of the fastest-selling luxury developments in Miami Beach’s history. Financed by J.P. Morgan, the loan is believed to be the largest for a residential construction project in South Florida.
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Arquitectonica-Designed Boutique Condo 'Ella Miami Beach' Launches Sales In Miami Beach
Miami-based real estate development firms, Constellation Group, The Boschetti Group, and Vietmar have officially launched sales on Ella Miami Beach, a 10-story boutique condominium that will soon rise in the heart of Miami Beach, at 6940 Abbott Avenue. The new construction building is expected to break ground in the first quarter of 2024 and is slated for completion in 2026.
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Lefferts To Launch Short-Term Rental Approved Tower '72 Park' In Miami Beach
The NYC and Miami-based development firm, Lefferts, has revealed 72 Park, a short-term rental approved condominium tower coming to Miami Beach. Slated for completion in early 2024, this will be the first new luxury tower on Miami Beach to permit vacation (or short-term) rentals and will offer 206 units ranging from 470 to 1,177 square feet with prices starting from the $700,000s. The topping-off ceremony for 72 Park is estimated to take place in July 2023.
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Black Lion's Robert Rivani Lists Penthouse at The Ritz-Carlton Residences, Miami Beach For $8.8 Million
Real estate investor Robert Rivani of Black Lion has listed his penthouse at The Ritz-Carlton Residences, Miami Beach for $8.8 million with Dina Goldentayer of Douglas Elliman. Rivani acquired the penthouse in May 2022 for $7.5 million. The listing comes on the heels of selling his ground floor restaurant space at One Thousand Museum for $7.9 million which he acquired in October 2022 for $6.4 million.
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Image via Golden Dusk Photography
Arquitectonica-Designed 42 Pine Tops Off Luxury Boutique Condo In Miami Beach
The Arquitectonica-designed 42 Pine, the highly anticipated boutique residential building at the nexus of iconic Pine Tree Drive and 42nd Street, has topped off, marking a milestone along its timeline for completion, which is estimated for Q1 2024. The eight-story building will reflect timeless sophistication and serve as a beacon for the neighborhood. The project secured $35.5 million in financing from BridgeCity Capital to begin building last year.
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