Mana Fights Back Against Wynwood Business Improvement District Allegations

Mana fought back against the Wynwood Business Improvement District over allegations that they were cutting close to $30 million in public benefits from their Wynwood project. They saw they will still provide $45 million of public benefits with few changes to their original proposal. They were cutting a $10 million cash payment to the commission that was in exchange for a height increase to 24 stories. They will still provide $7.5 million to the Overtown CRA and $2.5 million to the commission. They also fought back about claims that they would be changing the phases of the project and were sticking to their original plan. 

Public Benefits As Per Mana:

The Mana Wynwood SAP will grow the arts and design community while preserving the community’s unique character. Beyond residences and commercial buildings, the Mana Wynwood SAP includes more than $45 million in public benefits to the Wynwood neighborhood and surrounding communities. The breakdown of public benefits and contributions includes nearly $7 million to the Overtown CRA, $5.5 million annually to the Omni CRA through tax increment funds, and $35 million to the Wynwood community — including $2.5 million in cash for bonus height to the Wynwood BID.

Benefits to the Wynwood community include:

• Nearly 2.5 acres of centralized, public open space — the Mana Commons.
• A unified and vibrant streetscape for an enhanced pedestrian experience within the SAP and bordering streets.
• Extensive road improvements, including drainage and road rehabilitation.
• A newly constructed fire station and rescue facility for the City of Miami.
• Renovated and upgraded infrastructure serving the SAP Area and Wynwood, including drainage, sewer, fire services, and water mains.
• Underground or relocated overhead FP&L power lines.
• A public transit stop, which will contain bicycle racks.

266 Cape Florida Drive on Key Biscayne Listing For $13.9 Million

With over 18,091 SF of living area, 260 Cape Florida Drive on Key Biscayne is one of the largest mansions available for sale on the MLS in South Florida. The home is a 9 bedroom, 8 bathroom and 2 half-bath layout including a chef's kitchen, home theater, library, lush landscaping, wet bar, security system and meticulous interior design. The 3/4 acre lot features 346 ft of protected waterfront with direct ocean access. It was listed for $19.8 million in 2013, but the price has now dropped to $13.9 million. Listing and photos by One Sotheby's International Realty.

Erik Spoelstra Purchases Historic Coconut Grove Home for $2.6 Million

Erik Spoelstra has purchased a beautiful, historic Coconut Grove home for $2.6 million. Spoelstra is the coach of the Miami Heat who recently announced he will marry his longtime girlfriend and Heat dancer Nikki Sapp. The home is 4,294 SF, 5 bedrooms, 6 bathrooms, a guest cottage, beautiful pool, and lush landscaping featuring oak trees throughout the property giving an enclave of privacy and a true Coconut Grove feel. The home was first built in 1937. First reported by the Miami Herald and photos via EWM. 

Tibor Hollo Files To Increase Approved Height of One Bayfront Plaza Proposal

Tibor Hollo has filed a proposal to the FAA for their One Bayfront Plaza development, which will be an ultra-tall mixed-use tower in Downtown. The proposal is for a 1,044 ft mixed-use tower with residential units, office space, retail mall and hotel units. Construction would be scheduled to begin in January 2018. Plans had previously been approved for the project at 1,005 ft in 2015, but the developers seeks to go higher as FAA restrictions has eased since. The lot has quite a bit of history and has long been expected to be developed into one of the tallest buildings in Miami and an iconic part of the future Miami Skyline. Tibor Hollo has over 50 years of experience as a real estate developer in Miami including as the president of Florida East Coast Realty

Hassan Whiteside Purchases La Gorce Contemporary for $7.3 Million

Hassan Whiteside of the Miami Heat is wasting no time putting his new $98 million contract to use by purchasing a La Gorce contemporary for $7.3 million according to The Real Deal. This should be quite the move from his previous condo in Downtown's Marina Blue. The waterfront bachelor pad is 5,406 SF with 6 bedrooms, 6.5 bathrooms and was first listed for $13 million is February 2016 before seeing several price cuts. It is designed by Borges + Associates Architects with an open floor plan to allow for water views through the structure and a detached guest house. Photos by One Sotheby's International Real Estate. 

Swire Properties Announces Brickell City Centre a Success to Shareholders.

Swire Properties announced to shareholders in August that Brickell City Centre was a success. The development is yet to be complete yet has sold 349 out of the 390 condo units at Reach and 174  of 390 condo units at Rise, the projects two residential high-rises. They also just received their Temporary Certificate of Occupancy (TCO) for their Rise condo tower, allowing buyers to start closing on their units. This marks the end of the residential and hotel parts, as well as the Three Brickell City Centre office building part of the project completed, and just the shopping mall and second office tower are still under construction. The Shops at Brickell City Centre, the retail mall, is scheduled to open in November and they recently released a list of stores with luxury names including Saks Fifth Avenue, Audemars Piguet, Richard Mille, Bally, Agent Provocateur and many more. 75% of the office space is under-contract to lease. WeWork signed a deal for close to 50% of the total office space last week. As Miami continues to evolve, commercial rates continue to rise. The residential rental rates remain to be seen. Swire properties is committed to completing two more phases of the project over the next 8 years.  

Palm Island Contemporary Lists for $32 Million

30 Palm Ave. is a Miami Beach dream house. Direct access to Biscayne Bay views of Port of Miami and Downtown. The beautiful contemporary home was built in 2014 is 8 bedrooms, 8 full baths and 1 half-bath with 14,000 SF in living area. I features over 100 feet of waterfront with a private dock, a master suite, movie theater, 4 car garage, gym, tennis and basketball courts and a summer kitchen. It is currently listed for $32 million by Albert Justo of One Sotheby's International Realty. Photos by One Sotheby's International Realty.

Macy's Shopping Around Remainder of Lincoln Road Leasehold

It's no secret that the major department stores are in for a major shake-up. The Real Deal is reporting that Macy's is quietly marketing the remainder of leasehold for their Lincoln Road location. The 98,610 SF at 1675 Meridian Avenue has 34 years left on the lease and could go for about $80 million. It is one of the largest retail spaces available in the area and it is reported that both Nordstrom Rack, HomeGoods, Saks Fifth Avenue OFF 5th and Old Navy have inquired about the space. HFF has the listing on the space. Macy's had reported earlier this year that they would be closing 100 stores, but would not comment on what would happen to the Miami locations. 

Bakara "SESTO SENSO" Listed on N Bay Rd. For $35.9 Million

Located at 5004 N Bay Rd., Bakara "SESTO SENSO" is a 17,055 SF luxury palace located directly on Biscayne Bay. The home is an architectural masterpiece and resort in itself, featuring a rooftop swimming pool 35-feet above ground, resort style pool with summer kitchen, beautifully designed interior and stunning master-bath with a marble bathtub. It is 7 bedrooms and 10 bathrooms, 6 car garage, 2 kitchens, an open atrium with vertical garden, movie theater, wine cellar and gym. There are bay views throughout with perfect sunsets and direct water access. Bakara "SESTO SENSO" is currently listed for $35,900,000. Listing by Mirce Curkoski of One Sotheby's International Realty. Bakara "SESTO SENSO" is owned by Christian de Berdouare, the founder of Chicken Kitchen, who owns two other homes along N Bay Rd. One of those is the famed former house of Pablo Escobar, at 5860 N Bay Rd. Photos by One Sotheby's International Realty. 

288 S Coconut Ln. On Palm Island Currently Listed for $21,800,000

288 S Coconut Ln. on Palm Island is a 9 bedroom, 11 bathroom 17,737 SF behemoth currently on the market for $21,800,000. The estate is designed by Ramon Pacheco was built in 2011. It includes 100 ft of waterfront on Biscayne Bay with a private dock and amazing views of the Miami skyline. The house also includes smart house technology, beautifully designed foyer, chef's kitchen and 4 car garage. Photos and listing by Douglas Elliman.