Aston Martin and global property developer G&G Business Developments have broken ground on Aston Martin Residences at 300 Biscayne Boulevard Way in Miami, confirming that construction of the 66-story luxury tower is set for completion in 2021. The milestone marks the development of Aston Martin’s first real estate project, and the iconic brand’s expansion into luxury residential design. Aston Martin Residences at 300 Biscayne Boulevard Way has become the first condominium tower to break ground in Downtown Miami this year, underscoring the development team’s strength and market confidence. The striking building of curvilinear glass and steel is set to rise on one of the last parcels of developable land on the Downtown Miami waterfront and has been designed by Revuelta Architecture and Bodas Miani Anger, renowned for creating visually impressive and exceptionally well-engineered landmark properties. General contractor Coastal Construction Group will now begin work on the tower. The 391 condominiums will combine breathtaking design aesthetic with an ideal location, featuring spectacular panoramic vistas of Biscayne Bay and the Atlantic Ocean. The development’s seven penthouses and one triplex penthouse – all of which will enjoy private pools and spacious terraces – will be complemented by a range of expansive one- to five-bedroom apartments. Aston Martin’s design team, led by EVP and Chief Creative Officer, Marek Reichman, will design the interior and amenity spaces throughout the development. Key Aston Martin design elements, such as the signature carbon fibre reception desks, will adorn each of the tower’s two private lobbies. Highlight features will include doors with bespoke artisan Aston Martin handles, number plinths and kestrel tan leather door tabs.Residents will be able to relax and unwind just steps from their front doors, with 42,275 square feet of outstanding Sky Amenities spanning four full levels between the building’s 52nd and 55th floors. Amenities will include a double-level fitness centre overlooking the ocean, spinning studio, boxing gym, virtual golf room, art gallery, two cinemas, as well as a full-service spa, beauty salon and barber shop. These exquisite spaces will be encased in a bold sail-shaped building reflecting the marina setting and offering superb views of the local surroundings. Residents will also be able to enjoy direct access to the turquoise waters of Miami via an exclusive yacht marina. Representing Aston Martin at the groundbreaking ceremony, Simon Sproule, Aston Martin Vice President and Chief Marketing Officer, said: “Aston Martin is on a growth trajectory globally and across the United States. Our partnership with G&G Business Developments to create Aston Martin Residences Miami, forms an important part of that growth story and of our desire to bring our brand to new audiences across the world.” German Coto, CEO of G&G Business Developments said: “In October 2016 we announced the partnership with Aston Martin and our plan to break ground in October 2017. Exactly one year later we are here to celebrate the start of construction which is confirmation of our commitment to follow our own strict timeline. This development has been extremely well received, in part due to the unique offer but also due to the outstanding job our official broker Cervera is doing. I am confident we will deliver on our promise to create the ultimate residential tower and I’m looking forward to admiring the view from the top of this special building when it is complete.” Coto concluded: “The success of this collaboration is a testament to the team work, mutual trust and dedication of everyone involved, both at G&G and Aston Martin.” The residences and penthouses, which range from 700 to 19,000 square feet, are priced from $600,000 to upwards of $50 million. The sales centre for the Aston Martin Residences at 300 Biscayne Boulevard Way in Miami, Florida is open daily from Monday to Friday from 10am to 6pm and Saturday and Sunday from 11am to 5pm. To speak to a member of the sales team, or book an appointment, please call (305) 456-7376 or email email@example.com.
South Florida-based Two Roads Development has secured $16.5 million in financing from Mosaic Real Estate Credit, LLC (MREC) for the first phase of construction of Elysee, the firm’s newest luxury condominium project in downtown Miami’s East Edgewater neighborhood. The loan is part of a larger financing facility for the waterfront property, located at 788 NE 23rd Street along Biscayne Bay, and will provide for the immediate advance and installation of pilings and subterranean excavation work, followed by the pouring of the building’s concrete foundation. Vertical construction of the 57-story tower will follow in the first quarter of 2018, with completion estimated for 2019. Elysee is being developed in partnership with entities managed by DW Partners, a New York-based investment firm with more than $3 billion in assets, and marks the second East Edgewater tower for developer Two Roads Development. In June 2017, the firm celebrated the grand opening of its nearly sold-out Biscayne Beach condominium, a new 52-story luxury tower located at 2900 NE 7th Avenue, which was capitalized by a joint venture with New York-based GTIS Partners. “Now more than ever, today’s lenders are putting added emphasis on properties benefitting from well-capitalized sponsors with credible track records. Two Roads has proven its ability to deliver landmark towers following the success of the firm’s Biscayne Beach project, which was completed earlier this year on time and on budget,” said Kevin O’Grady, principal with capital brokerage firm Walker Dunlop. Mosaic Real Estate Credit, LLC (MREC) is a California-based lender which provides first mortgage, mezzanine, and preferred equity financing for developers looking to add significant value, often through ground-up construction, to their properties across the United States. Mosaic was founded in 2015 by Ethan Penner and Vicky Schiff and since inception has originated approximately $500 million of real estate financing for properties in California, Nevada, Hawaii, Washington, New York, South Carolina, and Florida. “Our ability to secure favorable construction financing for Elysee stems from the strength of the project’s development team, the uniqueness of its waterfront location, and the caliber of our design team led by two of the world’s most talented minds in architecture and interior design, Bernardo Fort-Brescia and Jean-Louis Deniot,” said James Harpel, senior partner and chairman at Two Roads Development. Two Roads Development has assembled a world-class design team for Elysee. Designed by architect Bernardo Fort-Brescia of Arquitectonica, Elysee’s striking three-tiered telescoping shape will provide direct 180-degree bay and city views from every residence. The tower’s elegant design concepts are the creation of Paris-based interior architect and designer Jean-Louis Deniot, who has signed on to imagine the building’s common area amenity spaces. Elysee will include 100 half-floor residences measuring between 2,300 and 4,000 square feet in size. Unit prices at the luxury tower range from about $1.5 million to upwards of $10 million. Luxury residences at Elysee will include floor-to-ceiling glass windows and sliding doors, private elevators and foyers, 10- to 12-foot ceiling heights, designer finishes and fixtures, premium appliances, top-of-the-line Italian cabinetry, as well as two expansive east/west-facing terraces with 180-degree sunrise and sunset views. The development’s seventh-floor amenity level will include a resort-sized lap pool with a poolside refreshment bar, outdoor summer kitchen and barbecue terrace; waterfront fitness center and yoga studio; spa facilities with private sauna, steam and massage rooms; children’s lounge; and a blow-dry bar. The 30th-floor Owners Sky Lounge will feature sky-high amenities designed for entertaining, home to a Grand Salon lounge area and full bar; a Grand Dining Room with seating for up to 30 guests; a professional-grade chef’s kitchen and chef’s table; and a library/private theater, game room, and wine room. Elysee’s position in downtown Miami’s up-and-coming East Edgewater neighborhood, where more than a dozen new residential projects are in development, boasts one of the most convenient and geographically-desirable locations in the South Florida region. The four-block-wide piece of land is situated just north of downtown’s central business district and stretches one-and-a-half miles along the city’s bayfront between the Venetian and Julia Tuttle Causeways – two main arteries connecting Miami Beach to the Greater Downtown Miami area. The surrounding neighborhoods of the Miami Design District, Wynwood Arts District, Midtown, and Miami Beach are all within close proximity, providing easy access to Miami’s top destinations for luxury shopping, high-end dining, and world-class arts, culture and entertainment.
One can’t help but wonder how images of Hurricane Irma turning the Brickell financial district and downtown Miami streets into rivers will influence foreign buyers in the coming months. Fortunately, Irma brought with her valuable lessons to help the region’s community of real estate practitioners address subsequent doubts left in her wake. Here’s what we learned. While initial reports of Irma’s impact painted a dark cloud over Miami real estate, the reality for South Florida’s condo market is much brighter. Florida Power & Light reported that 4.45 million customers lost power when Irma made landfall Sept. 10. Further research, however, from one high-rise condominium management company indicates that many condominiums across the region lost power only briefly, if at all, during or immediately after the storm. FirstService Residential, which represents 350 properties in Miami-Dade, Broward and Palm Beach counties, reported that 69 percent of its properties powered up within four hours of the storm. Furthermore, 93 percent of its condos reported as powered up within 72 hours after the storm. Eighty-one percent of its buildings in the Brickell financial district and 100 percent of its condos in downtown Miami — the same two neighborhoods whose waterlogged streets were telecast to the farthest corners of the globe — did not lose power, according to FirstService. As of Sept. 18, 171,230 FPL customers remained without power, including 43,010 in Miami-Dade, Broward and Palm Beach counties. By comparison, 99 percent of condos managed by FirstService reported being powered up. Other factors that contributed to the positive performance of South Florida’s condos include the 2008 introduction of the Miami 21 Zoning Code, which received the American Planning Association’s “Award of Excellence for Best Practice” and resulted in more stringent construction practices by developers. No major structural damage was reported to condos in Brickell, downtown Miami or Edgewater. Cervera Management, Inc., a subsidiary of our brokerage that offers property management services to absentee owners, received fewer than 25 condo incident reports from its 300-plus properties. International real estate buyers often tell us U.S.-based brokers and agents that solid government, law enforcement and infrastructural strength are the primary reasons for their decision to invest in America. The effectiveness of our authorities’ disaster preparedness, response and relief (elements that often don’t exist in their home countries) was on full display before, during and after Irma. Gov. Rick Scott deserves praise for his swift action in declaring a state of emergency a full six days before the storm’s landfall. Proactive measures taken at the national, state and local levels allowed residents to prepare with time and maximize safety. These included a lift of the moratorium on fuel tankers to allow more fuel to enter the state, and coordination of more than 19,000 utility companies from around the U.S. to provide power recovery efforts immediately after the storm. By Sept. 11, authorities had sent an aircraft carrier and other Navy ships to the Keys to assist in search and rescue efforts. Also, mobilization of the National Guard helped protect evacuees’ property from looters. Florida real estate buyers can also take comfort in the fact that existing federal laws and programs provide financial relief after storms like Irma. Federal law requires mortgage holders to give homeowners a three-month forbearance on mortgage payments (in certain cases, at no cost and with no credit implications). Fannie Mae works with its mortgage servicers to ensure that homeowners impacted by hurricanes and other natural disasters get help. Last but not least, the Internal Revenue Service announced relief measures for Hurricane Irma victims in parts of Florida and elsewhere, allowing until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments. Locally, cleanup after the storm was swift and organized. Police officers directed traffic at all intersections that were without power, curfews were enacted to ensure public safety, and shelters for displaced residents of the Florida Keys and elsewhere were opened. While the loss of life and the impact on South Floridians can’t be ignored, we can find reassurance in the overall performance of our government and our condos after Irma. The strength and spirit after Irma provided again our community’s tremendous resolve. Miamians banded together to pick up the pieces and support more than 180,000 people in need. Hundreds of local business and residents donated water, nonperishable food items and supplies in disaster relief to Keys residents, along with other affected residents elsewhere in the region. Just like any destination in the world where one may choose to live, the possibility of a natural disaster is all too real. The recent earthquakes in Mexico and the devastating hurricanes that have rocked Puerto Rico and the U.S. Virgin Islands are stark reminders of this point. As such, we in the real estate and business community must be diligent in reminding our elected officials of the need for prudence, planning and preparation in all aspects of flood prevention. And we must keep reminding the world that the sun has returned to Miami and that our future continues to look bright. This article originally appeared in The Miami Herald
Life is returning back to normal in South Florida, but cleanup after the storm isn’t over yet. Residential brokers now face a cleanup of their own – trying to polish the appeal of homes in hurricane-prone coastal communities. “Florida is still on [buyers’] radar,” Jay Parker, CEO of Douglas Elliman Florida said. “Had we faced the damage Irma was proposing, it would have been a different story.” Major industry players agree: South Florida’s luxury real estate market remains intact, but the close call made an impression on prospective buyers. John Warsing of the Verzasca Group, which is developing the Aurora condominium that is under construction in Sunny Isles Beach, as well as condo projects in Bay Harbor Islands, said he was fielding calls from concerned buyers inquiring about the status of the buildings. “I told buyers just to be patient,” Warsing said, noting a number of deals may be delayed as a result of lenders requiring re-inspection of properties under contract. “Hurricanes are part of the life that we live year-to-year, but this one was unique because it took up the whole state.” Warsing arranged securing the construction sites before the storm and reports no damage. He said the only negative impact of Hurricane Irma would be having to convince buyers that Florida is still a great place to live. Waterfront communities in Miami-Dade, Broward and Palm Beach counties are some of the most susceptible to damage caused by hurricanes. Come hurricane season, which runs from June through November, residents living in coastal communities have to deal with the possibility of evacuating their homes when a hurricane is approaching. Last week, when floodwaters surged into Greater Downtown Miami’s Brickell financial district and Coconut Grove, as well as Fort Lauderdale’s Las Olas Boulevard, Cervera Real Estate’s marketing team kick-started a campaign called “Keep Calm Miami Is Still Strong.” Following the hurricane, Cervera posted pictures of sunny, dry streets and clean, pristine beaches on social media outlets with hashtags #MiamiOpenForBusiness and #CondosWithPower. “We definitely increased our marketing efforts last week,” said Alicia Cervera Lamadrid, managing partner at Cervera. “Our outreach was very pointed and got the message out quickly, because we were fine quickly.” The message was that Miami’s infrastructure held up strongly. “Condos were the big winner this round,” Lamadrid said, noting construction codes played a large role. “We [brokers] need to embrace the codes and be more grateful and maybe less annoyed by these things.” FirstService Residential, a condo-management company that represents 350 high-rises in South Florida, reported 240 of its buildings had power — some from generators — just one day after Hurricane Irma blew through South Florida. Just two high-rises experienced major damage, according to the report. Over the years, barrier islands in South Florida have tried to mitigate potential property damage caused by hurricanes. Miami Beach has a $400 million storm pump system in place, and Palm Beach regulations call for a 7.5-foot building elevation, which is half a foot taller than the federal height requirement. City commissioners in Fort Lauderdale recently considered a proposal to nearly double the city’s storm water fees. Jeff Miller, an agent with Brown Harris Stevens, doesn’t see any reason to panic because buyers are still interested in coastal communities. “For someone who arrives two or three weeks from now, they’re not going to see any effects,” he said, adding that home showings will continue even with mounds of debris in front of properties. “You wouldn’t even know a hurricane passed by, if you didn’t watch it, like we all did.” Miami Beach real estate agent Jill Eber, of Coldwell Bankers’ the Jills, said last week that she had an interested buyer from the West Coast. She tells her clients the allure of living near the coast outweighs the risks, citing the proximity to nightlife, access to boating, hospitals and privacy, as well as a lack of state income tax. “We live in a paradise,” Eber said, “and sometimes you have to deal with Mother Nature.” This article originally appeared in The Real Deal
University Developments today introduced plans for the development of University Bridge Residences, a premier condominium purpose-built for student tenants located across the street from the main campus of Florida International University (FIU). With a direct connection to campus via the new 8th Street pedestrian bridge, University Bridge Residences will serve the school’s rapidly growing student population’s housing demand. Florida International University is the fourth-largest university in the United States by enrollment, with more than 55,000 students, but only eight percent of the student body lives in college owned, operated or affiliate housing. University Bridge Residences comprises of 20 floors, 492 units, and a dedicated connection to the pedestrian bridge from the building providing a secure, direct route to the campus. Scheduled for completion in time for the 2020-2021 academic year, the residences will be fully finished inclusive of specialized student furnishings. Each unit will have its own washer and dryer as well as a dedicated bathroom for each bedroom. Offering a wide array of floorplans ranging in size from 317 square feet to 1,634 square feet, the residences include studios, one, two, three and four bedroom units, as well as three and four bedroom townhouses. Prices range from the $190,000’s to the high $600,000’s. The project is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. Acclaimed architecture and interior design firm Arquitectonica designed the project while Landmark Properties, one of the top US firms specialized in off-campus student housing, will manage the property once completed. Global City has developed over $2 billion in real estate within the USA and abroad, while Reichmann International is renowned for large international projects such as New York’s World Financial Centre and Canary Wharf in London. Podium Developments has over a decade of expertise in the student housing arena. “FIU has enjoyed tremendous growth in both students and reputation as one of the region’s top universities,” said Brian Pearl, principal of Global City Development. “As with many schools located within dense urban or suburban environments, there is a great need for housing. With its rapid growth, FIU has even more need than most, and we feel privileged to be part of the long-term solution.” “This is a truly unique opportunity for condominium buyers looking to diversify their real estate portfolio,” adds Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate, the exclusive sales and marketing brokerage for University Bridge Residences. “The project is ideally priced and the demand is compelling.” As part of the City of Sweetwater’s newly-designated University City, ownership of the units is open to all qualified buyers; however residents must be university affiliated. University Bridge Residences will offer a stunning amenity deck with a landscaped recreational area boasting a resort-style pool with beach entry and pool volleyball with lap area, cabanas, sun deck with daybeds, BBQ and dining areas, a state-of-the-art fitness room, and a 5,500-square-foot indoor lounge and game room. The building’s rooftop will also feature a sunset terrace complete with dining areas, large yoga lawn and performance stage. To aid in residents’ academic pursuits, students will enjoy complete access to all university online tools directly from their condominium, just as if they were on campus. Other student-focused amenities include shared study areas on each residential floor, a business center complete with four fully equipped conference rooms, and an outdoor video screen that can show movies or sporting events. An on-hours concierge will be available in the main lobby for the convenience of residents while security staff will be on hand 24-hours. University Bridge will also offer approximately 7,000 square feet of ground floor commercial space available for future retail or restaurants curated to support the student residents’ needs and lifestyle. Located at 740 SW 109th Avenue, University City, Sweetwater, an on-site sales center is currently under construction and will open in September. For more information, please visit www.UniversityBridge.com or contact sales director, Ruben Alvarez of Cervera Real Estate at 305.962.6496 or via email at firstname.lastname@example.org. Brought to you by
Thom Filicia, interior designer for Biscayne Beach, talks city-meets-beach inspiration behind Miami’s newest luxury tower
Odds are that if you are in the market for a second, third (or fourth) home in Miami, you’re probably looking for a waterfront location, security and close proximity to the Miami’s best dining, culinary and retail destinations. If that’s you, then East Edgewater’s newest luxury tower Biscayne Beach, needs to be on your radar. Located on Biscayne Bay in the heart of Miami’s fast-growing East Edgewater neighborhood, Biscayne Beach sits at the crossroads of art, theater, retail and great dining. High-fashion brands like Hermes, Louis Vuitton, and Bulgari of Miami’s Design District; the SoHo-esque art galleries, restaurants and boutiques in Wynwood Arts District, and world-class museums and performing arts centers of Downtown Miami are all minutes away. Featuring resort-style amenities and the mainland’s first bay front Beach Club, the 52-story tower has redefined how Miamians live and play by bringing the beach to the city. Biscayne Beach marks the Miami debut for celebrity designer and former TV star Thom Filicia – famously known for his role on Bravo’s Emmy Award-winning show Queer Eye for the Straight Guy – as the brainchild behind the project’s sophisticated ‘beach chic’ designs. Thom was among the select group of VIPs on-hand as Miami’s top brokers and Biscayne Beach buyers gathered to celebrate the project’s grand opening, hosted by developers Two Roads Development and GTIS Partners. We sat down with him to get his insight on inspiration for the city-meets-beach design for Biscayne Beach, as well as his perspective on how Miami has evolved in the process. Here’s what Thom had to say! Q: What is your role as the designer for Biscayne Beach? A: This is our first commercial project in Miami. I’ve done homes here — a house on La Gorce Island many years ago, a condo on Collins in the 50s on the ocean. This is our biggest project so far and probably the most fun. I remember touring the site a few years ago now, when it was a two-story, motel-y thing. It’s been fun to conceptualize what we were going to do with the building, the lifestyle of it, its identity – and now, finally seeing it come to life! My role included everything from uniforms to materials to what restaurateur we’ll have, to logos and colors and branding. I’m the person who’s saying, ‘This is our vision, and we have to make sure that all of these pieces contribute to the vision.’ I couldn’t be happier to be part of this. Q: Why did you choose Miami as the location of your first-ever residential building design project? A: I think Miami has gone through a series of moments, dating from the 1920s. They hit and then they disappeared. Fifteen years ago, Miami was an adolescent, hip and young and fun, a party town. But now Miami is a beautiful woman in her 20s, more mature and interesting. I’ve been coming here since college and remember thinking that you could visit five or six times and be exhausted by it, or outgrow it, but now you can come at every stage and there’s something for you and it’s a place that you can call home. Miami has transcended South Beach, and emerging neighborhoods like East Edgewater are the foundation for what will make the city iconic. Q: Tell us how Miami’s global appeal influenced your vision for the style of Biscayne Beach. Miami has committed itself to a multitude of influences. And over the years, Miami has evolved and matured so that the food and culture and theater and museums and arts from people living and traveling here from so many different parts of the world have provided the layers that make this a true global city. Even though Miami is becoming one of the most important American cities, people when they’re here still want to feel like they’re on vacation. Nobody really wants to feel like that in L.A. or New York City. There’s an element of Miami connected to the idea of surrendering yourself to relaxing. It’s something playful and authentic. Some of the most interesting places in Miami for me have that sense of ease, an organic element connected to the water and the idea that flip-flops are not off-limits. For the design of Biscayne Beach, I was inspired by the sand, the sea and most of all – the city. The concept is based around finding a perfect balance between a resort-style beach setting and the vibrant neighborhoods surrounding East Edgewater. By mixing natural elements with raw and refined materials, we created common areas that are bold and sophisticated, yet inviting and approachable. You can feel comfortable in a sarong and sandals or dressed for a New Year’s party. Q: Tell us more about the design concept... A: The story we’ve created is sort of city-meets-beach. We wanted the building to feel connected to the water but have a different point of view on this side of the bay near the Design District and Wynwood. We wanted it to feel friendly and approachable, yet sophisticated and stylish enough to be in a city. For our design, we selected materials that show a balance of urban and earthy. We use travertine as opposed to marble, because it’s more organic. We use honed stones as opposed to polished. We use shell stone, which is shells ground up into concrete, as pavers to bring in that beach element. To counter-balance the steel and glass, we’ve chosen a lot of woven elements – linens, walls with a grass-cloth kind of look, window treatments that are mesh, not shiny or silky. We designed all the public, common areas like the reception, the beach areas, hallways, elevators, and on the fit and finish of the units like the doors, trim, kitchen cabinets, faucets and bathroom finishes. We may also offer furniture and interior packages to the people moving in. Q: What makes Biscayne Beach unique among the dozens of other luxury condos on the market? A: Biscayne Beach is innovative in its layout, architecture and approach to waterfront living. I love that it’s sandwiched between Biscayne Bay and the Design District, so it’s centrally located from an urban standpoint – but we designed it to have a man-made beach so that you don’t lose a very important aspect of living in South Florida. It’s the first residential property to be designed on the city side of Miami to have a private Beach Club, and I think residents will appreciate that. And I love that it’s on the bay because there’s such a movement toward using the water in a different way than it’s been used before, with water sports and activities. It’s different from the beach lifestyle of catching some rays, jumping in the water – and then you start drinking. People want to do something healthy and active. I’m a boater. I love kayaking and paddle boarding. I’m one of those people who want a bay lifestyle. Luxury has a different meaning than it used to – not just pampering and comfort, but access. Q: Where else are you working now? A: We’re doing projects in Montana, Colorado, Connecticut, the Hamptons, New York City, Turks and Caicos and in Mexico. And we’re in talks for another commercial building near Miami but closer to Palm Beach. Construction of Biscayne Beach was officially completed in May 2017 with approximately 99% of the project's 391 units already sold and under hard contract. Only three developer residences remain, including the Beach House and two penthouses. For more information on Biscayne Beach, click here.
Miami is a town of visionaries, from the original pioneers like Julia Tuttle and Mary Brickell to modern-day trail blazers like Tony Goldman, the urban place-maker responsible for emerging neighborhoods like New York’s SoHo, Miami Beach and the Wynwood Arts District. The “Magic City” has been erected on the dreams and determination of few. It has been built on a philosophy embodied in Goldman’s immortal words: “If you just look at what you see, you won’t go anywhere. You’ve got to look beyond what you see to be able to know you can realize the dream you imagine.” Before it was one of the most valuable destinations in the world, Miami Beach’s South of Fifth neighborhood was a rundown neighborhood. Those of us in the industry who have been around Miami real estate long enough will remember that 20 years ago, the tall glistening towers that welcome cruise passengers to our city were but a glimmer in the eye of a few forward-thinking developers that saw the potential of this area. Alongside those developers, our firm’s strategic sales and marketing efforts contributed to the transformation of this neighborhood, which runs south from Fifth Street to Government Cut. Apogee, Icon South Beach, Murano Grande, Ocean House, 321 Ocean, Portofino Tower and Yacht Club at Portofino were among the 90 percent of the waterfront buildings we represented in the South of Fifth area. In the process, we helped brand this exclusive neighborhood, now known as SoFi. It wasn’t easy, but the developers, brokers and buyers who believed in SoFi’s potential were the beneficiaries. For example, the residences at Apogee, the pinnacle of SoFi luxury living, had an average price per square foot just more than $1,000 at launch in 2004. Today, Apogee’s residences average $2,500 per square foot, with penthouses well over $4,000 per square foot. Two decades removed and two miles west across the shimmering waters of Biscayne Bay, another SoFi is emerging. East Edgewater, with its strategic waterfront location, proximity to Miami’s most in-demand zones and amazing value proposition, is the best opportunity Miami has seen since abandoned dog tracks and retirement homes called South Beach home. We find ourselves again staring down opportunity and potential. East Edgewater is immediately north of downtown, between the Venetian and Julia Tuttle Causeways, east of Biscayne Boulevard adjacent to Biscayne Bay. With the beaches to its east, Wynwood Arts District and the airport to the west, downtown Miami to the south and the Design District to the north, it sits at the crossroads of luxury retail, high-end dining and world-class arts and culture. In the 1930s, East Edgewater was home to the city’s most affluent individuals. By the 1980s, as other areas of Miami developed, the once highly regarded zone had fallen into disrepair. In the early 2000s, with the zoning changes allowing high-rises, came forward-thinking developers: Quantum on the Bay set the pace for the resurgence of this area, and today it sits as the only neighborhood in downtown Miami with waterfront that is zoned for high-rise condominium residences, presenting a rare opportunity. Miami’s major developers — Terra Group, Melo Group, Two Roads, OKO and RELATED, among others — have doubled down. When the smart people of Miami set their eyes on an area, smart money follows. Since 2011, 10 pre-construction projects have launched in East Edgewater, putting it among Miami’s fastest-growing neighborhoods. Of those, Crimson, Paraiso Bay, Icon Bay and Bay House have been delivered. Another five projects are expected to be delivered by the end of 2017, bringing 1,500 new residences to East Edgewater. As demand for the neighborhood increases, so has the level of ultra-luxury offerings. Elysee Miami (starting at $1.5 million) and Missoni Baia (starting at $2 million), which my firm represents, have launched sales in the last 12 months. 10The number of pre-construction projects that have launched in East Edgewater since 2011. neighborhoods. Buyers have flocked from all around the world: Venezuela, Argentina, Brazil, Colombia, Mexico, France, Italy and Turkey being among the top international countries of origin. Emerging Latin American markets such as Ecuador and Peru, as well as markets farther east from China, Singapore and UAE, have also begun to take interest in the area’s ultra-luxury inventory. Easy access to major transit links, spectacular waterfront views and close proximity to Miami’s in-demand zones only add to the appeal of East Edgewater’s value proposition. By far, the major motivator for buyers has been the opportunity to purchase ultra-premium luxury residences significantly below comparable premium waterfront in Miami, Miami Beach and most of the world’s leading global cities. The average per-square-foot for ultra-luxury waterfront residences in East Edgewater ranges from the low $700’s to the high $800’s, more than three-times lower than SoFi’s $2,805 average per square foot. Simply put, East Edgewater offers an unprecedented value proposition, with an outlook toward exalted appreciation. We need look no further than the thriving Wynwood Arts District to realize the power of Goldman’s words. From his singular restaurant (Joey’s) has emerged an epicenter of art and culture. This history, this promise for the future, is all around us. It was the case in SoFi, and it is the case today in East Edgewater. This article originally appeared in The Miami Herald
Two of the country’s most successful, residential brokerage firms, Stribling & Associates in New York Cityand Cervera Real Estate in Miami, today announced they are forming a strategic partnership to bridge the gap between their respective markets and deliver an elevated customer service experience. Both firms are family owned and operated, specializing in premiere properties across re-sale and new development. Together they leverage over 600 agents in 14 offices located in prime submarkets such as Manhattan, Brooklyn, Miami and Palm Beach, and a combined global real estate network reaching across five continents. The partnership was designed to benefit clients by providing exclusive access to shared market expertise, marketing resources and the industry’s top agents. The formal agreement represents a major milestone in an ongoing relationship between Stribling and Cervera that began nearly a decade ago. The partnership opens key distribution channels for both firms in complementary markets. “With so many clients looking to expand their real estate portfolio between New York and Miami, and globally, we saw an opportunity to merge our respective resources in order to provide intelligent counsel and a seamless experience,” said Elizabeth Ann Stribling-Kivlan, president of Stribling & Associates and the second generation to manage the firm. Stribling’s foothold in Europe and the Middle East, combined with Cervera’s deeply rooted Latin America and Europe networks plus recent inroads to China, results in a global distribution network that has been cultivated over four decades of relations. “47 Years ago my grandmother created a specialized field in the real estate brokerage industry by offering project developers full-service sales and marketing on an international scale. Together with my mother, we had the vision to increase the power of our global reach while simultaneously offering a-la-carte services for our clients in New York,” said Alexandra Goeseke, the third generation in the management team. “We know our clients are in good hands when they are with Stribling. They have integrity, knowledge and sophistication. As family run businesses, we are able to provide personalized services and can truly go above and beyond for our clients.” Stribling - a family owned and operated firm - is well known for its decades of record-setting sales in the Manhattan luxury market. The Plaza Hotel & Residences is among the premier addresses they have exclusives represented and sold in their 37-year history. This article originally appeared in New York City Biz List