Discover The Opulent $45 Million Penthouse At Brickell’s St. Regis Residences, Miami Posted on April 12, 2024April 14, 2024 by Sarah Elles Boggs Perched atop the 50-story St. Regis Residences, Miami in Brickell is an opulent 10,000 square foot duplex penthouse that has hit the market for $45 million. Spanning the 48th and 49th floor with a 50th floor rooftop terrace, the penthouse will overlook the Brickell Financial District upon its completion in early 2027. Penthouse A, the first of two bespoke residences will showcase a view of South Brickell, the Biscayne Bay and Coconut Grove. Each level of the residence has its own terrace, but the crown jewel of views is from the rooftop terrace, which spans 2,842 square feet. The rooftop terrace also features a private rooftop pool, spa and summer kitchen. Rendering of St Regis Residences Miami Brickell Penthouse Terrace Inside, the five bedrooms and seven bathrooms are adorned with a muted white chocolate minimalist color palette, natural materials, warm textures and is encapsulated in impact glass windows from floor to ceiling. With the designs inspired by luxury yachts, the feel of the residence offers both a beachy and a cosmopolitan vibe. The primary suite is separated into its own wing with a sitting room, midnight bar, dual bathrooms with natural stone showers, freestanding tubs and two separate boutique-style wardrobes. Rendering of St Regis Residences Miami Brickell Penthouse Primary Suite Rendering of St Regis Residences Miami Brickell Penthouse Primary Bath A gourmet kitchen in the penthouses offers bespoke Rockwell Group-designed Italian cabinetry with custom lighting and fully-integrated Sub Zero and Wolf appliance suites. “The penthouse debut at the St. Regis Residences, Miami signifies a defining moment for both the development and the neighborhood, introducing an elevated level of luxury unmatched by any other residence in Brickell, while upholding the esteemed standards set by one of the most iconic names in hospitality,” says Nick Pérez, president of Related’s Condominium Division told The Robb Report. Rendering of St Regis Residences Miami Brickell Penthouse Kitchen Rendering of St Regis Residences Miami Brickell Penthouse Family Room Owners at the St. Regis Residences will enjoy over 50,000 square feet of amenities that pay homage to the glamour and grandeur of the Brickell and Astor Families. There will be signature butler services, a professional-grade wellness center that offers Pilates and yoga, a full-sized pickleball court, a private marina and holistic healing. True to St. Regis form, there will be a St. Regis Tea Room as well as a fine dining restaurant by Michelin-starred chef Fabio Trabocchi. In total, the St. Regis Residences, Miami will offer 152 residences including the two penthouses, two waterfront garden villas, sky villas and the tower residences. Prices for the tower begin at $3.7 million and construction is already underway. If you are interested in a presentation of the St. Regis Residences, Miami in Brickell, including specific layouts and prices, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Photos courtesy of Related Group/Integra Investments
Today Is National Pet Day! Here Are Miami’s Top Pet-Friendly Condo Buildings Posted on April 11, 2024April 14, 2024 by Sarah Elles Boggs All hail our furry friends! Today is National Pet Day, which is a perfect opportunity to raise one of the more delicate issues with moving your family into one of Miami’s famous condo buildings. Depending upon the type of pet you have in your family, they may or may not be accepted by the condo board in the building of your choosing. Most of the buildings are at least somewhat pet-friendly, particularly if you are purchasing and/or have small pets. If you are renting and/or have large dogs, there are some buildings that will cater to your fur baby, and some who will be less than accepting. In honor of National Pet Day, we wanted to highlight our favorite developments who really roll out the carpet to the four-legged family members. Our Favorite Miami Condo Puppy Havens Grove at Grand Bay Beginning in or own realm of Coconut Grove, The Grove at Grand Bay was built in 2016 and is located at 2669 Bayshore Drive. It boasts large floor plans in twin twisting glass towers designed by starchitect Bjarke Ingels. The human family members will make particular note of the 12-foot ceilings with floor-to-ceiling glass as well as 12-foot deep terraces with glass enclosures, showcasing the views of Regatta Park and the Biscayne Bay. For Fido, all sizes of dogs are welcomed at Grove at Grand Bay and the building is just a stone’s throw to Kennedy Park, one of Miami’s top dog parks. This park is broken into different sections for large dogs and little ones and plenty of shade and seating areas for tired doggie parents to rest while the pets run off their energy. If you’re looking for agility equipment, there are also A-frames and tunnels as well as doggy water fountains in both areas. Grove at Grand Bay Apogee On the Southern tip of Miami Beach at 800 South Pointe Drive is another glamorous and glassy tower across from an expansive and manicured park. South Pointe Park is one of Miami Beach’s most iconic parks, showcasing the glittering skyline in many shots that are featured on television and movies based in the Magic City. It has an off-leash area and follows the Government Cut Inlet all the way to the South Pointe Pier, where you can watch the cruise ships come and go as your furry friend plays fetch and chase. Apogee itself is the pinnacle of luxury in the South of Fifth neighborhood and is a regular on the “Best of” lists. The 22-story tower has just 67 residences, making availability a challenge, but the effort is well worth it. The floor-to-ceiling glass and large terraces offer the perfect backdrop for waterfront relaxation and the condo community is very welcoming to pets. Apogee South Beach Condos Ten Museum Park Downtown Miami is arguably one of the most pet-friendly neighborhoods in the Magic City, they even have a “Dogs and Cats Walk Sculpture Garden” in the Maurice A. Ferre Park at Tenth Street and Biscayne Boulevard. Just across from Ferre Park at 1040 Biscayne Boulevard is Ten Museum Park, the 100-residence tower designed by Chad Oppenheim in 2007. The loft-style floorplans in Ten Museum were among the first to herald in the new, glassy and contemporary style that is so prevalent today. Ten Museum Park Condo Paramount Bay Just blocks away in Edgewater, Paramount Bay is another haven for pups. Its location at 2020 North Bayshore Drive is situated almost directly across from Margaret Pace Park, another of the top dog parks in the Miami area. Margaret Pace Park is an 8-acre fun zone for dogs and people alike. It has two activity zones for off-leash play. There is one area for large and more active dogs and a separate enclosure for smaller or older pups. There are also plenty of water fountains for animals and people alike and a large walking trail for on-leash bayfront strolling. Paramount Bay Condos in Miami Eighty Seven Park Venturing into North Beach at 8701 Collins Avenue, we find the ultra-luxurious Eight Seven Park at one of the most advantageous locations on the beach. The private tower borders North Shore Park, a public gathering spot that boasts the North Beach Oceanside Park Bark Beach, one of the only dog-friendly beaches in the area. Within the Renzo Piano-designed tower, there is a separate and private park solely for the residents and their family (pets included). Eighty Seven Park Condos Pool and Beach View If you are interested in a private presentation and specific pricing for these or similar pet-friendly buildings, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Peek Inside David Grutman’s $7.2 Million Condo At One Thousand Museum Posted on April 10, 2024April 13, 2024 by Sarah Elles Boggs Miami nightlife impresario Dave Grutman and Mrs. Isabella Grutman, Dave’s wife who has enjoyed success as a fashion and jewelry designer, have listed their iconic four bedroom residence at One Thousand Museum in Downtown Miami for $7.2 Million. The building is arguably one of the most over-the-top residential towers in Miami, having been the first residential project designed by Zaha Hadid in the Western Hemisphere. Its unique structure features a scorpion-like exoskeleton which gives One Thousand Museum its trademark style as well as facilitates 60 stories of half- and full-floor residences that do not have interior columns or load-bearing walls. In addition to the added space, the stylish exoskeleton also ensures that no two homes in the ultra-luxury tower are alike. In all, there are 84 bespoke residences in the Downtown Miami building. Within the Grutman’s 17th-floor residence, they have a layout that boasts 4,600 interior square feet with four bedrooms, five and a half baths and a deep 820-foot terrace overlooking the Biscayne Bay, Kaseya Center and Bayfront Park. Without the need for interior columns, the new owners will be able to enjoy a jaw-dropping 48-foot social gallery. The tower’s exoskeleton allows for spacious layouts without load bearing walls or columns. David Grutman – 1000 Museum Condo Terrace As Grutman has made a career out of chic celebrity hotspots, it is only natural that he would make his home in One Thousand Museum, which is no stranger to celebrity residents. When the development opened in 2019, David and Victoria Beckham purchased the penthouse and became neighbors with Marc Anthony. Reggaeton star Nicky Jam had also been a neighbor before selling the residence directly below for $7 million earlier this year. If you have spent any amount of time in Miami’s nightlife scene, you have no doubt come across one of Grutman’s Groot Hospitality brands. You will see his mark in such Miami staples as Komodo (the #1 highest grossing restaurant in Brickell), Swan, Papi Steak, Key Club, Strawberry Moon (a partnership with Pharrell Williams), and Gekko (a Brickell partnership with Bad Bunny). Of course, no visit to Miami is complete without celeb-sightings at LIV on Miami Beach. LIV consistently holds the title of the highest-grossing nightclub in the United States. David Grutman’s 1000 Museum Condo Primary Suite David Grutman’s 1000 Museum Condo Primary Bath Owners at One Thousand Museum enjoy a vault of the most exclusive amenities in the South Florida area. There is a double-height sky lounge with stylish seating areas and swimming pool, the wellness center offers two-room treatment spa, acai and juice bar, a sunbathing area and more. For travel, there is an Escalade house car or even a rooftop helipad, the only residential rooftop helipad in the city at this time. If you are interested in a private tour of One Thousand Museum #1702, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: Become Legendary / Dina Goldentayer David Grutman’s 1000 Museum Condo Helipad
The Perigon Miami Beach Hosts Groundbreaking Celebration At 5333 Collins Avenue Posted on April 3, 2024April 6, 2024 by Sarah Elles Boggs Just five months after the unveiling of their luxurious preview gallery, MAST Capital and Starwood Capital have broken ground on The Perigon Miami Beach, their much-anticipated ultra-luxury beachfront development at 5333 Collins Avenue. The project’s developers gathered on the sand yesterday to toast to their progress and welcome the new elegant development with a handful of elite brokers and clients. “Breaking ground on The Perigon marks a new era for luxury living on Miami Beach – one that is characterized by sophisticated design and highly curated experiences,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “We’ve partnered with some of the most brilliant visionaries in the world to create a new marvel located within the most coveted destination in the market. It’s evident by our tremendous sales that the concept is resonating with today’s discerning buyers.” The Perigon Miami Beach Groundbreaking What Makes The Perigon Stand Out The Perigon Miami Beach is the embodiment of quiet luxury or “stealth wealth” that has become so popular over the last year. Offering the pinnacle of privacy, the development offers just 73 residences in 17 floors on the Miami Beach oceanfront. While owners at The Perigon will have fewer neighbors, they will not sacrifice on amenities in the least. The boutique tower offers over 20,000 square feet of exclusive amenity space that includes an oceanfront restaurant helmed by the Michelin Starred Chef Shaun Hergatt, an idyllic waterfront setting with 200 linear feet of private beach and a 25-meter pool with a private club. Inside the glistening tower, guests will find indoor dining and a private speakeasy, also helmed by Chef Hergatt as well as an extensive wellness center. Rendering of The Perigon Miami Beach Oceanfront Pool The residences feature interiors designed by Tara Bernerd & Partners. With a palette of white chocolate minimalism, the understated elegance leads to a peaceful and decadent blissful experience. Rem Koolhaus’s unique design of The Perigon is actually a series buildings that are connected into one. The towers are oriented to maximize the views from each residence, offering a combination of Ocean, Biscayne Bay and Miami skyline views. The bespoke 2- to 4- bedroom layouts range in size from 2,100 to 6,700 square feet and each residence offers a dramatic view. The ceilings are 10-feet throughout with floor-to-ceiling impact glass windows and 10- to 12-foot-deep terraces to offer indoor/outdoor living in the American Riviera. Rendering of The Perigon Miami Beach Oceanfront Living Room Rendering of The Perigon Miami Beach Oceanfront Primary Bath Purchase opportunities at The Perigon Miami Beach start at $4.5 million. Delivery is anticipated in 2026. Douglas Elliman is the exclusive broker for The Perigon Miami Beach. If you are interested in a private presentation of the project, with specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images Courtesy of Mast Capital/The Perigon Collaborators of The Perigon Miami Beach Architect: OMA – Office of Metropolitan Architecture, Founded by Rem Koolhaas Developer: Mast Capital & Starwood Capital / 5333 Collins Acquisitions, LP Interiors: Tara Bernerd & Partners Landscaping: Gustafson Porter + Bowman The Perigon Miami Beach Features & Amenities 17-story oceanfront condo designed by highly-acclaimed architecture firm OMA Gold level LEED building certification Comprehensive amenity program for residents offering the best of beachfront living 200 expansive linear feet of beachfront Direct entry to the dedicated beach, equipped with lounge chairs, umbrellas and service Beachside swimming pool with cabanas and sunbeds Outdoor spa Pool and beach food and beverage services Signature oceanfront restaurant by a celebrated chef, exclusive to residents Sprawling conservatory offering daily breakfast bar Chic cocktail lounge and speakeasy Dramatic double-height lobby with lounge area Sunrise lounge with catering kitchen for entertainment and private events Private spa with saunas and treatments rooms High-tech fitness center with high-impact training room overlooking the Atlantic Ocean Bespoke wine room Residents’ salon for personalized beauty services Cinema Kid’s playroom Meditation lounge areas and intimate gardens overlooking the ocean 9 Luxury guest suites for family and friends Bicycle storage Services at The Perigon Miami Beach Residential butler Dedicated lifestyle concierge 24-hour security and valet parking House car On-site general manger In-residence dining and catering from the signature on-site restaurant Pool and beachside food and beverage services Home management services from cleaning and maintenance to floral and grocery stocking The Perigon Miami Beach Condo Features 73 signature OMA-designed residences, including 9 guest suites 2 to 4-bedroom layouts ranging in size from 2,100 to 6,700 square feet Direct, private elevator entrances to each residence 10-foot ceilings with floor-to-ceiling windows Private 10 to 12-foot-deep terraces offering stunning ocean views Open-concept living, dining and entertaining areas perfectly accented with linear cove lighting Italian kitchens custom designed by Tara Bernerd & Partners Kitchens feature honed marble countertops, backsplashes and islands and premium Sub-Zero and Wolf appliances Primary bathrooms boast natural stone flooring and wet walls, custom bathtubs, bespoke mirrors and light fixtures Each bedroom offers walk-in wardrobes Deposit Structure for The Perigon Miami Beach 20% of Purchase Price at Contract 10% of Purchase Price 60-90 days after Contract 10% of Purchase Price at Top Off (Est. Q4 2025) 60% of Purchase Price at Closing (Est. Q4 2026) Downloads for The Perigon Miami Beach The Perigon Miami Beach – Fact Sheet The Perigon Miami Beach – Keyplan (Lobby Level & Resident Amenities) The Perigon Miami Beach – Keyplan (Second Level & Lifestyle-Wellness) The Perigon Miami Beach – Floor Plans (3rd Floor) The Perigon Miami Beach – Floor Plans (4th – 10th Floors) The Perigon Miami Beach – Floor Plans (11th – 15th Floors)
Auberge Resorts Tapped To Manage The Shore Club Private Residences In Miami Beach Posted on April 1, 2024April 6, 2024 by Sarah Elles Boggs New details are being revealed about the historic redevelopment and renovation of Miami Beach’s iconic Shore Club Hotel at 1901 Collins Avenue. Last January, it was revealed that Miami-based Witkoff Group and Monroe Capital had planned an elegant renovation of the iconic Art Deco style hotel as well as The Cromwell Hotel, adding a third 18-story residential tower into the redevelopment that brings the project into the twenty-first century while paying homage to the property’s roots that date back to the original heyday of Miami Beach. Since the announcement, we have learned that the exclusive Auberge Resorts Collection has been tapped to manage the amenities and the resort portion of The Shore Club Private Residences upon its completion in 2027, bringing another example of the level of luxury that is to be expected from the project. With properties throughout the United States, Mexico and Europe, Auberge Resorts Collection prides itself upon offering one-of-a-kind experiences in extraordinary destinations. Their level of service is unmatched and The Shore Club will certainly shine among its Auberge peers with the finishes and amenities planned in Miami Beach. “We are excited to expand our urban footprint with the addition of Shore Club in Miami Beach, a place where nature, art, culture and entertainment come together in uniquely compelling ways. Our proven skill in elevating historic properties through exceptional service and experiences together with Witkoff’s vision and Robert Stern’s exquisite design will transform this legendary address into a dynamic new destination that embodies the unique spirit of Miami Beach. We can’t wait to bring this vision to life,” said Dan Friedkin, Auberge Resorts Collection’s chairman in a release. Rendering of The Shore Club Residences Pool When completed, the 1949-built original Shore Club Hotel and the Cromwell Hotel, which was constructed in 1939, will offer 73 total guest rooms and 49 residences on a three-acre beachfront location. Given the historic nature of the project, no two residences will be exactly alike. While the Art Deco-style Shore Club will be home to the hotel portion, the 8-story Cromwell Hotel is being transformed into a discreet private residential entrance leading to the newly-designed 18-story glass tower by Robert A.M. Stern’s RAMSA. The glass encased tower is designed to emulate the ocean waves among Art Deco architecture and celebrate the project’s vibrant past and position in South Beach’s new glamorous era. In addition to the rooftop penthouse, which recently went into contract with a price of $120 million, the developers have also planned a $37 million free-standing beachfront home on the property. The beach house will span 8,000 square feet and three levels. Residences within the development range in size from 2,400 square feet up to 7,000 square feet and are priced in the range of $6 million with the average price rumored to be around $20 million. Rendering of The Shore Club Residences Primary Bathroom The resort amenities at The Shore Club Private Residences are set to include direct beach access, a menagerie of 5-star amenities and personalized service for each resident and guest. Guests can expect to enjoy several food and beverage venues, an indoor/outdoor spa, a wellness center as well as a beach club and three swimming pools. A historic landmark both architecturally and socially, The Shore Club Private Residences will offer the ultimate Miami Beach experience, ushering residents and guests through the most glamorous and luxurious eras from the Art Deco heyday into the “Art Basel Era” that we are experiencing in modern times. Douglas Elliman is the exclusive broker for The Shore Club Residences, Miami Beach. Because The Shore Club is an ultra-exclusive, private collection of residences, we are only releasing floor plans, additional information and renderings to pre-qualified buyers. If you are interested in a private presentation of the project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images Courtesy of The Shore Club Private Collection Rendering of The Shore Club Residences Beach Entry
Major Price Improvement | 4-Bed/4.5-Bath Waterfront Condo at Elysee with Sweeping Views Posted on March 21, 2024 by Michael Light Major price improvement on an amazing opportunity for an exquisite condo at Elysee featuring panoramic ocean and Miami Beach skyline views! Offered at $5,275,000, Unit 4602 at Elysee features a private elevator and foyer that leads you into this bespoke flow-through unit offering nearly 4,000 sf of indoor living that seamlessly connects a private sunrise terrace to the east and an expansive sunset terrace to the west. The sunrise terrace features sweeping water views, while the sunset terrace offers a beautiful view of the vibrant Miami Beach skyline. This luxury condo boasts 4 bedrooms, 4.5 bathrooms, a great room, family room, library, staff’s lounge and a Chef’s eat-in kitchen by ItalKraft featuring gas cooking (rare in a condo building in Miami) and Wolf/Sub-Zero appliances. This unit also showcases hardwood flooring throughout, 10-foot ceilings and dramatic floor-to-ceiling windows to highlight the water views…sheer sophistication with a modern flair. Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater Miami UNit 4602Elysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater MiamiElysee Edgewater Miami Rising 57 stories above Biscayne Bay in the Edgewater neighborhood of Miami, Elysee consists of only 94 (1/2 floor & full floor) bespoke condo residences with a splash of French-inspired modern design by renowned Jean-Louis Deniot. The ultra-luxe building offers its residents exclusive unparalleled amenities located on three full floors. The lobby level boasts a grand marble lobby and entrance and a bayfront sunrise swimming pool. The 7th floor offers a resort-style 75-foot lap pool, outdoor summer kitchen and barbecue terrace, high-tech fitness center, private yoga studio, his and her spa with private massage rooms, sauna and steam rooms, blow dry hair bar & hair bowl and kid’s play room. The 30th floor amenities include a great room with grand piano and stunning panoramic views of Biscayne Bay, Atlantic Ocean and the Miami Beach skyline, elegant dining room with wine coolers, library that converts to a private theater, social lounge bar, chef’s catering kitchen with indoor and outdoor seating, business center and game room. If you are interested in a private viewing of Elysee Unit 4602, please contact listing broker, Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or michael@miamiluxuryhomes.com.
Construction Update On CMC Group’s Vita At Grove Isle In Coconut Grove Posted on March 20, 2024March 20, 2024 by Sarah Elles Boggs One year has passed since Ugo Colombo’s CMC Group broke ground on Vita at Grove Isle and everything is moving along as scheduled. The seven-story boutique condominium has now surpassed the halfway mark of their 2-year build schedule and is nearing top-off. Located on the Northern pointe of Coconut Grove’s 20-acre private island named Grove Isle, the seven-story project is deceiving in that the curved structure is actually three separate buildings that are joined. This allows for the curved exterior to maximize the view for each of the 65 private residences. In January of 2024, CMC Group was awarded a massive $239 million construction loan from Bank OZK. This infusion of financing will complete the tower, taking into consideration the strength of the developer and the sales contracts received from the pre-construction selling period. It is expected that the conjoined buildings will reach full height by the summer, allowing for closings to begin in the summer of 2025. Aerial of Vita at Grove Isle Construction Progress March 2024 Developer Ugo Colombo’s Thoughts One of the aspects of this project that stuck out to Ugo Colombo early on was the location at 5 Grove Isle Drive is truly unlike any other in the city. Not only is it the last available site for a project on Grove Isle, but the last waterfront development site in all of Coconut Grove. Pairing the last waterfront development site with Coconut Grove’s new status as the “it” community for the area’s elite, something truly substantial had to be planned. The ambiance that he planned was 65 boutique residences that are evocative of living in waterfront single family estates, with the level of convenience and service that condominium living is able to offer. In a statement, Mr. Colombo said, “Vita at Grove Isle will be the cornerstone of Grove Isle’s renaissance, bringing back the spirit of its glory days while ushering in a new era of luxury that the island has yet to see. Once complete, Vita will be a haven for residents and its island neighbors who seek a waterfront escape, complete with a Michelin-quality restaurant and clubhouse that’s just minutes from a walkable, family-friendly neighborhood with endless live-work-play options.” Those who are curious of the quality that comes with an Ugo Colombo-developed project can see some examples of his work locally at the famed Grovernor House, which was completed in 2006. In Brickell, he added towers that include Santa Maria from 1996, Epic Residences from 2008 and Brickell Flatiron, which was completed in 2019. One of the most notable characteristics I can point out as a professional in the local marketplace for over 15 years, the projects developed by Ugo Colombo do not show their age. Even buildings he built 30 years ago stand tall in the skyline with timeless design and quality. This will certainly ring true for Vita at Grove Isle as well as the newly announced Four Seasons Coconut Grove that will be built just across the private causeway. Vita at Grove Isle Boat Dock Rendering Inside Vita at Grove Isle As the construction wraps up on the structure, making way for the interior finishes, let’s talk about what those will entail. The project is designed to offer resort-style amenities to a select few, this includes a Vista at Grove Isle Club. Vista at Grove Isle Club is a private club exclusive to residents. The club offers a pool and adjacent bar with night-lit tennis, padel and pickleball. Guests will also be able to enjoy gourmet restaurant and bar options and access to the private marina. The residence-style layouts include private elevators to each home with expansive views from the 13-ft deep terraces. The kitchens are stylishly integrated with concealed appliance suites, book-matched marble backsplashes and counters and masterfully crafted stonework. Layouts of the exclusive residences include three-, four-, and four-plus-den layouts that start at $6 million. Exclusive penthouses with rooftop terraces measuring 6,600 square feet and private pools are priced from $19.5 million. If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman AND long-time Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: CMC Group Vita at Grove Isle Construction Progress March 2024 Rendering of Vita at Grove Isle Entry Rendering of Vita at Grove Isle Primary Bath Rendering of Vita at Grove Isle Kitchen Rendering of Vita at Grove Isle Balcony
The Residences At 1428 Brickell Is Over 40% Sold, Lands $104 Million Construction Financing Posted on March 12, 2024March 13, 2024 by Sarah Elles Boggs The Residences at 1428 Brickell has hit two major milestones on the lead-up to groundbreaking. This week it was announced that developer YTech has secured $104 million in construction financing for the project just as the sales team has announced that over 40% of the 189 planned residences have sold. Ytech has had an incredibly busy year with the project. Sales were launched in January of 2023, marking just over 1 year to sell almost half of the project. This is an astounding rate of absorption for preconstruction residences that begin at $2.4 million up to $7 million. The construction site at 1428 Brickell is currently in the demolition phase of the previous structure. We have not yet learned when the groundbreaking date could be, but we know that it will be soon. This groundbreaking date is date is contingent upon the clearing of the build site with new, more stringent demolition processes in the urban core. Entering into the summer of 2023, YTech surprised the market by unveiling an opulent $20 million sales gallery that pays homage to Brickell’s rich history, yet with an interior that fully immerses prospective buyers into the future that 1428 Brickell will offer. 1428 Brickell Sales Gallery Sample Kitchen Layout Inside the sales gallery, buyers are met with an illuminated and suspended scale model of the neighborhood as well as full-scale buildout of a residence as they will be upon completion. An LED display is also able to demonstrate the views from the different points in the 861-foot 70-story tower. “We continue to successfully hit our targets in sales, finance, and construction for this project, surpassing 40% in sales within a year, securing $104 million in financing, and commencing the demolition process,” Yamal Yidios, CEO of Ytech said in a release. “As we approach groundbreaking, we are determined to deliver the highest-quality project in Brickell.” Construction Financing The receipt of construction financing is always a large stepping stone in the process of developing new towers. Not only does it offer the capital necessary to complete the project prior to closings beginning, but it is also a testament to the strength of the project itself from a business standpoint. Before offering construction loans, banks review the previous track record of the developers, their plans for the project and the sales that have occurred in the pre-construction phase. No page is left unturned in this underwriting process and construction loans are among the most difficult loan types to obtain. In the case of 1428 Brickell, the financing includes a $78 million refinance of the build site itself, given by Linkvest Capital. This replaced a $20 million mortgage that was used to secure the site when the project was in its conceptual phase. An additional $26 million mortgage was issued by Banesco for the historic properties at neighboring 1500 and 1548 Brickell Avenue. 1548 Brickell is the newly-restored home of Major Food Group’s Chateau ZZ Restaurant and you will find the $20 million sales gallery for The Residences at 1428 Brickell in the historic home that is located at 1548 Brickell. Rendering of The Residences at 1428 Brickell About The Residences at 1428 Brickell Even in a seemingly-saturated market of lovely new condo residences, 1428 Brickell is a standout on many levels. This is the first project in Miami to put the sunshine to work with over 20,000 square feet of photovoltaic glass along the western backbone of the tower. These panels will absorb the sunlight for use as energy in the tower. Inside the project, developers have laid out over 80,000 square feet of amenity space that includes a 10,000 square foot gym, a rooftop pool and spa, and a two-story wine and fine art lounge. The residences themselves are laid out in a way that embraces the location in Miami’s Financial District to maximize the views and usability of the layouts. This combination of maximizing the space and location to allow estate-style living in the heart of the city and still maintaining favorable pricing without sacrificing quality or luxury is a delicate dance that Ytech has mastered beautifully. Prices range from $2.4 million for a two-bedroom plus den, to four-bedrooms plus den ranging from $5.5 million to $7 million. Lower penthouses start at $8 million with the spectacular $60 million penthouse that has 30-foot ceilings and unparalleled views and a private rooftop pool. The Residences at 1428 Brickell is slated for completion in 2027. For more information, please download the fact sheet and floor plans here: 1428 Brickell Fact Sheet 1428 Brickell Floor Plans If you are interested in a private presentation of The Residences at 1428 Brickell with current availability and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: YTech Development