320 S Hibiscus has sold for 11.6 million after the former owners donated the luxurious property to Mt. Sinai Medical Center. Douglas Elliman agents Eloy Carmenate and Mick Duchon agreed to a very reduced commission to represent the sale and all proceeds and most commissions earned will be donated to the hospital.
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Trump Group Affiliate Secures $558 Million Loan For The Estates At Acqualina In Sunny Isles Beach
The development team behind The Estates at Acqualina has closed on a $558 million construction loan on September 28, 2018 that will fund the vertical construction and completion of both residential towers at The Estates at Acqualina.
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Concierge Auctions and ONE Sotheby’s International Realty to Sell $159 Million Florida Estate Without Reserve
Playa Vista Isle, a Neoclassical work of art, is spread out on five acres on one of the highest points of Florida's "Millionaires Mile," and is one of the most expensive real estate listings in the country at $159 million.
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River Landing Shops & Residences Unveils Waterfront "Restaurant Row" On The Miami River
The already under-construction River Landing Shops & Restaurants, being developed by River Landing Development including the Coral Gables-based UrbanX Group and Coralee Penabad along with H&R REIT, and Matthews Southwest, have revealed a waterfront “Restaurant Row,” further engaging the Miami River.
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University Bridge Residences Closes On $231 Million In Bond Financing
University Bridge GP, LLC, a partnership between between Miami-based Global City Development, RER Ventures and Toronto-based Podium Developments that is developing the off-campus 20-story student housing rental tower University Bridge Residences, has closed on a $231 million bond issuance.
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Construction At OKO Group's Missoni Baia Goes Vertical In Edgewater
OKO Group, the Miami-based development company founded by international real estate magnate and hotelier, Vladislav Doronin, has announced that the foundation work for Missoni Baia is now complete and construction crews have taken the tower vertical.
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PMG To Bring Waldorf Astoria Hotel & Residences To 300 Biscayne, Set To Become Miami's Tallest Tower
PMG, S2 Development, and Greybrook Realty Partners will build Miami’s tallest tower at 300 Biscayne, which will also feature Miami’s first Waldorf Astoria Hotel & Residences. The 1,049’ tower is being designed by Sieger Suarez and is expected to have a sell-out over $1 billion.
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Metronomic Place lobby.
Developer Celebrates Plans to Revitalize Coconut Grove with Groundbreaking at Metronomic Place
Miami-based development company Metronomic Inc., led by Ricky Trinidad, broke ground last Thursday for the new, mixed-use office, retail and hotel project on Grand Avenue in Coconut Grove. The groundbreaking ceremony for Metronomic Place was attended by commissioner Xavier Suarez and is set to spearhead the long-awaited revival of this corridor.
The five-story building will have about 5,000 square-feet of Class A office space, 3,200 square-feet of ground floor retail space, and a 44-key boutique hotel. The lobby and hotel interior was developed by local firm One Design Build. Designer Hugo Mijares combined metal, concrete, wood and other raw elements to create a modern industrial design with Old American style. It will also feature an activated “green” rooftop with a pool and garden area that echo the natural aura Coconut Grove in known for. Metronomic Place has an estimated completion date of Winter 2019.
Ricky Trinidad, President of Metronomic, Inc., is a developer and resident himself in West Coconut Grove, and has deep roots to the community. He hopes the project will enhance the vitality of Coconut Grove’s commercial and entertainment core.
He also just closed on a 7,200 square-foot site at 3110 Commodore Plaza called Commodore Place. The boutique hotel will offer loft-style, short-term suites with attractive amenities, a rooftop pool and garden deck area, and a two-story duplexed retail venue on the first floor.
Renderings for Commodore Place.
Miguel Pinto of Apex Capital Realty brokered the deal and represented Metronomic Inc. Like Ricky, Miguel is focused on working on projects and deals that enhance communities and positively impact the commercial real estate industry.
As part of Metronomic’s larger plan to revitalize Grand Avenue, they also have over ten new construction projects in the works in Coconut Grove. This includes a large-scale comprehensive development of multiple properties of mixed-income, affordable housing, retail, office, park plazas, and sustainable living concepts.
Article by: Katya Demina
Pitusa Signs a New Lease to Open Their First Flagship Store in Wynwood
Pitusa is a multimillion dollar, Peruvian-inspired clothing company founded in 2010, with the goal of providing high quality, affordable and comfortable beachwear.
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Petition to Annex Two of Six Islands Along Venetian Causeway
Residents of San Marco and Biscayne Islands are circulating a petition to move the islands outside of the jurisdiction of the city of Miami and into Miami Beach. The two artificial islands are located on the westernmost side along the Venetian Causeway, between South Beach and Downtown.
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