Fisher Island Penthouse Combination Sets Record With Sale Over $150 Million Posted on April 5, 2024April 7, 2024 by Sarah Elles Boggs One of the wealthiest zip codes in the United States is getting wealthier with a new-record-setting penthouse sale at Six Fisher on the famed Fisher Island in Miami Beach. The project, which gained additional notoreity as being the first new residential development to require an invitation in order to consider a purchase, has sold a combination of upper penthouses for over $150 million, according to Bloomberg. This ultra-luxurious sale follows a trend that has become prevalent across the coastal region. Miami’s business-friendly climate has attracted an inordinate amount of ultra-high-net-worth individuals as well as the companies they have founded and the high earners that work together to keep the companies fruitful. “We’re seeing a great exodus that is coming to Miami, not just to buy real estate, but for the companies to make Miami their base. That’s bringing the very high-end employment that is going to afford the condominiums,” said Related Group founder Jorge Perez in a Bloomberg interview. At the time of the interview, Perez was in Brazil, visiting with VIP clients and expanding his ever-growing art collection. He made note of the fact that Latin America has always responded well to Miami. Ultra high net worth South Americans feel safe and welcomed in the area, the location is convenient and the climate is conducive to relaxation. With that being said, he mentioned that the high-level business influx has brought unbridled competition for the residences from domestic buyers. Perez noted that of late, domestic buyers have made up half of the residence sales in his most exclusive projects, traditionally representing 20%-25% of the owners. The remaining buyers have been foreigners, most often from Latin America. Rendering of Six Fisher Island Porte Cochere “miami has become a very serious city,” Perez told Bloomberg. “Before it was a tourist city. Fun and sun.” Long gone are the days of Miami and Miami Beach being a single-faceted party destination. In years past, the city lived up to its reputation as a mecca for hard partying tourists, but the new influx of lucrative businesses has paved the way for a more refined and luxurious destination. Miami Beach is becoming the American Riviera, with elevated experiences now being commonplace and competition mounting for the most elevated and exclusive experiences possible. Fisher Island has always been on the upper crust of exclusivity and privacy, as it is accessible only by boat. Guests are security-checked at the dock and residents live a relaxed, resort-lifestyle in the confines of their domain. The island essentially operates as a small town with its own exclusive elementary school, post office, police force and EMS, a golf club, private beach, spa and multiple restaurants. With less than 600 residents, you will see plenty of people cruising around on golf carts, enjoying the countless amenities at their fingertips. Rendering of Six Fisher Island Golf Club Rendering of Six Fisher Island Pool Rendering of Six Fisher Island Deep Water Dock Six Fisher Island has been a pioneer in the new method of purchasing in the most exclusive of condo developments, selling over $300 million in residences (a third of the entire project) within the first couple of months from launch. During this launch period, there were no press releases or sales blasts, rather the project was privately offered to a list of VIP clients, who told their friends of the opportunity and viola! We will not know the concrete sales prices of the residences until the project is complete and closings commence, this is expected in 2025. Considering the Fisher Island resale market, where we do have concrete figures, the average cost of a condominium residence was $4.3 million in the fourth quarter of 2023. The most expensive recent penthouse sale was $40 Million, and tennis great Caroline Wozniacki is asking $42.5 Million for her penthouse at Palazzo Del Sol. She shares the residence with her husband, New York Knicks player David Lee. Palazzo Del Sol is among the newest developments on Fisher Island, it was completed in 2016. Rendering of Six Fisher Island Terrace Rendering of Six Fisher Island Primary Suite Six Fisher is in good company in the race to be the most exclusive development in the area. The Shore Club at 1901 Collins Avenue recently took the crown as the highest-priced penthouse sale, with an anonymous buyer signing a reported $120 million for the upper penthouse. Other jaw-dropping offerings include a $150 million penthouse combination at Michael SHVO’s Raleigh Hotel, also on Miami Beach, and Jeff Bezos’s buying spree on Indian Creek Island, which has become known as the Billionaire Bunker. Despite the offerings elsewhere, Fisher Island will always be unique as there are no other exclusive and full-service islands that are only accessible by yacht, ferry or helicopter. Even in the most exclusive of markets, each project has its own bespoke personality that caters to the exclusive buyers that are welcomed to Miami Beach. Douglas Elliman is the exclusive broker for Six Fisher. If you are interested in an invitation to consider this 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: Six Fisher by The Related Group
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
888 Brickell By Dolce & Gabbana Releases New Renderings And Details Of Their New Supertall Tower Posted on March 27, 2024March 28, 2024 by Sarah Elles Boggs After garnering approval from the FAA to built to a staggering height of 1,049 feet above Brickell Avenue, JDS Development and Dolce & Gabbana have released new details on their first real estate project in the United States. A Unique Condo Hotel Offering 888 Brickell by Dolce & Gabbana is not only the first collaboration between JDS and the eponymous fashion house, it is also the first tower of flexible condo/hotel residences that can be simultaneously rented and enjoyed by the owners. Not to be confused with a typical condo/hotel which allows owners to participate in a hotel program when not in use by the owners themselves, owners at 888 Brickell can actually transform their residences into hotel rooms as well as a hotel suite. This Grand Private Residence allows for a minimum of two ensuite bedrooms plus a powder room as well as a great room with access to a large loggia with an outdoor kitchen. The secondary bedrooms are able to transform into standalone hotel rooms when needed through exterior doors to a private foyer, and the separate primary bedroom combined with the great room operating as either a residence or a hotel suite. Through a statement Alfonso Dolce, CEO at Dolce & Gabbana said, “After the launch of our Casa Collection in 2021, it was natural to follow with a hotel and residential strategy ensuring the very best of Italian hospitality. For us, the cultural vibrancy of Miami is the perfect backdrop for our world debut in the real estate sector with ‘fatto a mano’ (handmade) craftsmanship at its heart. The project will embody the very essence of the Dolce&Gabbana universe – a luxurious, timeless design experience.” Rendering of 888 Brickell by Dolce & Gabbana Lounge Bar The Design As the project moves through the planning phase, we are also learning more about the interior design concept and amenities that are coming to fruition. Michael Stern’s JDS Development Team has chosen Milan’s M2Atelier Studio to harness the ideas from Domenico Dolce and Stefano Gabbana for the interiors and bring them to life. Their bespoke minimalist style has traveled from Milan throughout the world on some of the most prestigious yachts and into high-design buildings through architecture, design and even furniture design. With sumptuous palettes of black marble and bookmatched burgandy marble under dramatic handmade Venetian chandeliers, the interior design is expected to fully embody the couture brand for an elevated experience throughout the lavish project. The fashion house’s signature leopard print is worked into the design through glamorous textiles and custom-made furniture. Rendering of 888 Brickell by Dolce & Gabbana Lounge The Amenities Within the new super-tall tower, the ample list of amenity offerings begins with a host of private food and beverage options. Residents and guests of 888 Brickell by Dolce & Gabbana will enjoy a total of six food and beverage outlets. These include a signature restaurant on the ground level, two bars in the expansive grand lobby, the 888 Pool Club restaurant and bar is inviting for day-to-night alfresco dining with a gelateria and a palette of rich green terrazzo and green and white striped lounge chairs. For more private gatherings, there will be a demo kitchen and private dining. Wellness amenities will be equally thorough with a fitness center, golf simulator, 44′ lap pool as well as yoga and pilates studios. A recovery spa will be a welcome oasis of serenity in the city with a thoughtfully curated menu of massages and spa therapies that include facials, IV therapy, thermal circuits, a juice bar and a barber shop. Lounging amenities are also included in the form of a private theater/screening room, lounge, billiard’s room, a children’s playroom, and a comprehensive business center. Rendering of 888 Brickell by Dolce & Gabbana Lobby Developer Michael Stern, Founder and CEO of JDS Development said, “The global real estate spotlight is shining on Miami and Brickell, in particular due to many prominent businesses relocating to the area. This extraordinary, branded condo hotel for Miami will ensure that the demand for world leading, design led spaces with unparalleled views can be fulfilled; we are extremely proud to launch the collaboration with Dolce&Gabbana in this iconic tower. The fashion house’s pursuit of quality and detail in design — together with their ability to create a beautiful world of authentic lifestyle filled with incredible hospitality — guarantees we are embarking on a successful, creative journey for our future visitors, guests, and residents alike.” The groundbreaking of 888 Brickell by Dolce and Gabbana has not yet been announced, construction is currently underway at their exclusive preview gallery nearby. Residences at 888 Brickell by Dolce & Gabbana are slated to range from one to four bedrooms and Tier 1 (friends and family) prices are set to range from $1.6 million to $11 million. Penthouse prices and details have not yet been released. If you are interested in a private presentation 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: Recent Spaces for Dolce & Gabbana/JDS Rendering of 888 Brickell by Dolce & Gabbana
The Downtown Miami Underdeck Lands $60 Million US Department Of Transportation Grant Posted on March 26, 2024March 28, 2024 by Sarah Elles Boggs The new I-395 Underdeck and Heritage Trail project is one step closer with a $60 million grant that has been earmarked by the US Department of Transportation. This federal grant will make up the majority of the $83 million needed for the landmark project and is the largest federal grant ever received by the City of Miami, according to Mayor Francis Suarez. About the Downtown Miami Underdeck Not unlike The Underline, which stretches under the Miami Metrorail lines south from the Miami River, The Underdeck will bring jogging trails, bicycle lanes, sports parks and active-urban activation to the community. The Underdeck is located under the I-395 bridge and is comprised of 33 acres that is currently considered dead space. Community leaders and locals have long complained that I-395 and I-95 have created a waste of space and a division between the neighborhoods. The space had previously been a catch-all of litter and despair, which is also an opportunity to create a family-friendly urban greenspace. When completed, The Underdeck will tie together the Overtown, Downtown Miami, The Miami Arts’ District, Miami Worldcenter and on into Edgewater. Not only will the communities be brought together, property values will increase as well with the ease of access between the districts. Renderings have been released for the project that is being designed by Hargreaves Jones, whose name has become synonymous with activating urban open spaces and streetscapes. Their previous work can be found in New Orleans’ Crescent Park as well as South Pointe Park in Miami Beach. Rendering of the Downtown Miami Underdeck – Landscape Architecture Scope of the Project When completed, The Underdeck will transform a mile-long deadspace into a public park that stretches from Overtown to the Biscayne Bay. There are four main components that include Neighborhood Green, Active Heart, Live Work Play and the Civic Waterfront. Rendering of Downtown Miami Underdeck – Heritage Trail From the Neighborhood Green to the West, The Underdeck will add a play areas with splash pads for kids, an event lawn for yoga or concerts, plazas and the beginning of the Heritage Trail. Crossing over the Florida East Coast Railway tracks, the Active Heart area offers the signature pedestrian bridge so that joggers and bicyclists can safely cross over the railway as well as a pet playground and sport courts. Continuing to the East, Live Work Play and Civic Waterfront are home to more playgrounds, cafes and concession areas, beautiful water features and the new iconic Signature Bridge that will redefine our skyline. The redesign of I-395 and addition of the new Downtown Miami Signature Bridge was the project that spurred discussion of activating the space below the highway and making the area a fully-designed and activated urban community. Rendering of Downtown Miami Underdeck – Wildflowers Rendering of Downtown Miami Underdeck – Bicycle Trails Rendering of Downtown Miami Underdeck – Pedestrian Bridge The new Signature Bridge is scheduled to be complete in 2027. If you would like to have first-hand accounts as the project comes together, Community Meetings are open to the public and take place virtually or in person. You can access a schedule and reserve a spot here. Maps of The Downtown Miami Underdeck Rendering of Downtown Miami Underdeck – Neighborhood Green Rendering of Downtown Miami Underdeck – Active Heart Rendering of Downtown Miami Underdeck – Civic Waterfront Rendering of Downtown Miami Underdeck – Scope of Project
The Ritz Carlton Residences South Beach Contributes To Historical Transformation Of Morris Lapidus’ Lincoln Road Beachwalk Entrance Posted on March 25, 2024March 25, 2024 by Sarah Elles Boggs The developers of the new Ritz Carlton Residences South Beach are teaming up with the City of Miami Beach to bring Morris Lapidus’ vision of the Lincoln Road beachwalk to fruition. Utilizing a $4.85 million grant from the state of Florida and contributions from the developers and the City of Miami Beach, locals will soon enjoy a new street redesign with an Art Walk, beachwalk beautification and general pedestrian-friendly redesign all the way from the sand to Washington Avenue. Rendering of Ritz Carlton Residences South Beach Beachwalk For those who are new to Miami Beach, Morris Lapidus is the famed architect behind Miami Beach’s historic MiMo designs. You will recognize his work throughout Lincoln Road, the Fontainebleau Hotel, and the Eden Roc, among others. He is one of the most important architects in Miami Beach’s history. Rendering of Ritz Carlton Residences South Beach Entrance The project has been approved by the developers of the Ritz Carlton Residences South Beach, Historic Preservation Board, Florida Legislature and Governor DeSantis. City leaders are working to ensure that improved traffic flow and pedestrian safety are maintained throughout the redesign, which will revive Morris Lapidus’ vision of the “Lapidus Arch” that was meant to connect the South Beach sand to Lincoln Road. Status of the Project Now that funding and support for the 100 block of Lincoln Road has been obtained, the final development agreement will be presented to the City Commission in early summer, followed by a Request for Proposals so that construction may begin. Rendering of the South Beach Lincoln Road Beachwalk The team is garnering support to extend the improvements through the 200 and 300 blocks of Lincoln Road, which would connect the sand to Washington Avenue and complete the vision. The community’s support for this expansion is very important for the beautification, increased safety and flow of traffic that residents and property owners will soon enjoy. The New South Beach When completed, the new beachwalk entrance will compliment the exclusive feel of the Ritz Carlton Residences South Beach while incorporating the history of Lincoln Road and South Beach with Morris Lapidus’ touch. Additionally, South Beach in general is experiencing a renaissance. Recent investments into luxury residences, Class A office spaces and a nationwide public relations campaign all distance the area from its hard-partying tourist destination reputation. Going forward, South Beach will be synonymous with class, luxury and artistic decor that pays homage to the rich history of the exclusive neighborhood. The Ritz-Carlton Residences South Beach is expected to be completed at in the Spring of 2027. Douglas Elliman is the exclusive broker for this private collection of units at The Ritz-Carlton Residences South Beach. If you are interested in a private presentation of the building, in person or via zoom, please contact Michael Light, Executive Director of Luxury Sales at Douglas Elliman and member of the elite Sports and Entertainment Division. Only qualified buyers will be able to view floor plans, renderings and have access to site tours. You may reach Michael directly at 786.566.1700 or via email at michael@miamiluxuryhomes.com. Image Credit: Instagram/Florida of Tomorrow Rendering of the South Beach Lincoln Road Fountain Rendering of Ritz Carlton South Beach Lincoln Road Aerial
A Sneak Peek Inside Michael Shvo’s The Raleigh Rosewood Residences Posted on March 21, 2024March 21, 2024 by Sarah Elles Boggs Rendering of The Raleigh Miami Beach | Image Credit: DBOX for SHVO The iconic Raleigh in Miami Beach is having a renaissance at the hands of famed developer Michael Shvo and award-winning architect Peter Marino. Always a visionary, Mr. Shvo has undertaken a full restoration of the famed 60-suite boutique hotel and private member’s club, adding a modern 17-story residential tower at 1775 Collins Avenue on Miami Beach. In order to bring this vision to fruition, Shvo has tapped Peter Marino to oversee the design of the tower with the highest of expectations. “There is only one architect in the world that I would entrust to restore The Raleigh to its original splendor, and that is Peter Marino,” Michael Shvo told Robb Report. “Drawing from his work with the world’s most glamorous fashion houses, such as Chanel, Dior, and Louis Vuitton, to name a few—and taking inspiration from The Raleigh’s original art deco design and its storied history, Peter Marino has created a unique aesthetic that will be felt in every element of the three-acre estate across the residences, hotel, and beach club.” Rendering of The Raleigh Residences Miami Beach | Image Credit: The Boundary for SHVO About The Rosewood Residences at The Raleigh While the finished project will no doubt capture the epitome of elegance and luxury, details are purposefully quiet. Specific prices of Rosewood Residences at The Raleigh are being kept private and detailed presentations are offered by invitation only. This lack of specifics is a testament to the desire for privacy that modern buyers of super-luxury real estate have. In addition to the desire for privacy, there is simply no need to overshare every detail of a new project with the recent onslaught of the global elite in Miami Beach. Rendering of The Raleigh Residences Miami Beach Oceanfront Terrace | Image Credit: The Boundary for SHVO With that being said, small details here and there are being released. The Robb Report was able to obtain a preview of the interiors of The Raleigh this week. Within the preview, it was said that the tower will include 40 waterfront homes and eight elegant penthouses. Layouts of the new residences will range from two- to five- bedroom layouts and the penthouses will encompass 4,574 square feet up to 13,218 square feet. The penthouse floor plans will offer four- to seven- bedroom plans. In December of 2023, Bloomberg reported that the 13,000 square foot penthouse would set a new record as the most expensive in Miami Beach history. It is reported to be priced “over $150 million.” When completed in 2026, the ultra-exclusive project will be managed by Rosewood Hotels. Owners will enjoy 215 linear feet of private oceanfront that Shvo is calling the “Billionaire’s Beach.” Rendering of The Raleigh Residences Miami Beach Primary Bathroom | Image Credit: The Boundary for SHVO Outside of their homes, owners of Raleigh’s Rosewood Residences will enjoy exclusive amenities that include Marino-designed lobbies, four swimming pools, and a private club and famed Italian restaurant Langosteria. This will be the first U.S. location for the hospitality group, which will also offer in-residence dining as well as beachside cabana service. The double-height wellness center will also feature a 4,000-square-foot spa. Raleigh’s Rosewood Residences is meant to bring South Beach’s glamorous history from the Art Deco era into the new glory days as the Billionaire’s Beach. This is a wonderful time for South Beach and Michael Shvo is creating a true showpiece that embodies the past, the present and ushers us into the future. Rendering of The Raleigh Residences Miami Beach Kitchen & Breakfast | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Living Area | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Dining Room | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Kitchen View | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Primary Suite View | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Private Residential Lobby | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Porte Cochere | Image Credit: The Boundary for SHVO Rendering of The Raleigh Residences Miami Beach Historic Pool | Image Credit: DBOX for SHVO Rendering of The Raleigh Residences Miami Beach | Image Credit: DBOX for SHVO Rendering of The Raleigh Residences Miami Beach | Image Credit: DBOX for SHVO Disclaimer: Information within this article was obtained from The Robb Report and Bloomberg News as well as published statements by the developer. Information herein is believed to be accurate, is for informative purposes only and should not be relied upon.
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