CLIENT NEWS: Miami Beach site sells for $20M, 7-story hotel planned (Photos)

June 14, 2024

A developer purchased a mixed-use building in Miami Beach for $20 million, with plans to replace it with a hotel. Washington Gardens Inc. and Washington Gardens MB LLC, both managed by James Resnick in Miami Beach, sold 1509 and 1515 Washington Ave. with a 11,458-square-foot retail building and a 13-unit apartment building to 1515 Washington Acquisition LLC, co-owned by Xaver Kriechbaum and Gavin Crescenzo of Aventura-based Keyah Real Estate Group. The deal included $15 million in seller financing. The land[...]

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CLIENT NEWS: Site Work, Phased Vertical Permits Applied For At Former Miami Arena Site

May 16, 2024

Construction of a massive apartment project at the former Miami Arena site continues to move closer with new permits filed in recent days. On April 8, a site work permit was applied for with Miami’s Building Department. Coastal Construction is listed as the contractor, and the plan was accepted for review on April 25 (it isn’t yet approved). On May 6, a phased vertical permit was applied for, with Coastal also the contractor. Review isn’t yet underway. The master permit[...]

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CLIENT NEWS: New Images of Brickell’s Mercedes Tower; 100 Units Sold In Just 4 Days

May 13, 2024

New renderings of the 67-story Mercedes Benz Places tower under construction in Brickell were unveiled at an event last week. The building “has already set a sales record,” with 100 units sold in just the first four days of marketing. The image reveal event took place last week at The Concours Club ahead of the Formula 1 Miami Grand Prix weekend. It was attended by Toto Wolff (CEO of Mercedes AMG Petronas F1 Team), Michael Stern (CEO of JDS Development)[...]

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CLIENT NEWS: Michael Stern pays $61M for Brickell site of Dolce & Gabbana supertall

April 29, 2024

As questions swirl about the future of Michael Stern’s Brooklyn supertall, the developer appears to be all in on Miami. Stern’s JDS Development Group paid $61.2 million for the half-acre site at 888 Brickell Avenue, where the firm plans a Dolce & Gabbana-branded condo-hotel tower, property records show. A company tied to Grupo Mezerhane, led by Mashud Mezzerhane, sold the site, according to records and real estate database Vizzda. New York-based JDS has been in contract for years to acquire[...]

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CLIENT NEWS: Homestead Will See Construction of 1,100 Unit Mixed-Use Development

April 26, 2024

The Homestead Commission is discussing a large development which will be known as Sandero Landing. This is set to have 1,100 units, along with restaurants and stores. The development will be located on 90 acres of land. The project in question will be built on 90 acres on South 328th Street. The goal is to create a place where many people can live, work and play. There will be office spaces designed for people who live in the apartments. People[...]

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CLIENT NEWS: Brickell tower slated for Dolce & Gabbana condo/hotel sold to project’s developer

April 26, 2024

A 52-year-old office building in Miami's Brickell Financial District was sold to the developer who plans to replace it with a Dolce & Gabbana-branded tower. The 888 Brickell Ave. building, on 0.52 acres, was acquired by a subsidiary of Michael Stern's JDS Development Group on April 23 for $61.23 million, according to a report from Vizzda, a Tempe, Arizona-based real estate data provider. The seller was Alphatur Inc.. headed by Mashud A. Mezerhane, which acquired the building for $6.3 million[...]

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