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CLIENT NEWS: Celebrity-favorite restaurant from Dubai coming to Miami Beach

December 11, 2024

Gaia, a globally renowned Greek-Mediterranean dining destination from Dubai, is set to debut its first U.S. location in Miami Beach’s South of Fifth community come summer 2025. Conceptualized by British-Nigerian Chef Izu Ani and hospitality entrepreneur Evgeny Kuzin, the restaurant is a flagship of Fundamental Hospitality, with existing locations in Dubai, London, Qatar, Monte-Carlo and Marbella. The upscale eatery, which is named after the Greek goddess of the earth, will open on the ground floor of the Marea Condominium, 801[...]

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CLIENT NEWS: South Beach retail slump: Investors buy Collins Avenue building at 75% discount

July 28, 2023

Amid a South Beach retail slump, Northeast investors bought a Collins Avenue building at a deep discount, with plans for a Michelin-starred chef to open a restaurant at the long-vacant site. Garfield and Rebecca Spencer bought the two-story building at 624 Collins Avenue in Miami Beach for $6 million, or 75 percent less than the property’s sale price seven years ago, according to the broker and records. “It’s more indicative of the neighborhood conditions,” broker Drew Kristol said, adding that[...]

CLIENT NEWS: Coral Way Office-Retail Building Seeks Zoning OK

July 27, 2023

A new mixed-use commercial development is targeted for Coral Way with over 120,000 square feet of class-A offices and retail shops. Miami City Commissioners are to hear the second reading of a resolution to rezone the corner lot on Coral Way and Southwest 31st Avenue where the Brito Miami Private School sits. If the city votes to rectify the zoning discrepancy, a proposed five-story office building will rise alongside the neighborhood’s existing commercial corridor. The acre lot, at 3030 SW[...]

CLIENT NEWS: Witkoff, Monroe score record $430M construction loan for Shore Club

July 26, 2023

Witkoff and Monroe Capital secured $430 million in construction financing for their Shore Club project in Miami Beach, likely marking the largest such loan for a residential development in South Florida — at a challenging time in the market. J.P. Morgan provided the financing for the luxury condo and resort development planned for 1901 Collins Avenue, according to a press release. New York-based Robert A.M. Stern is designing the oceanfront project alongside Kobi Karp Architecture & Interior Design. The 49[...]

CLIENT NEWS: Hospitality Tracker: Philippe Chow plans South Beach location

July 25, 2023

New York-based Philippe Chow hopes to occupy the coveted restaurant space at One Ocean South Beach, according to site plans submitted to the city of Miami Beach. The eatery would offer its Beijing-inspired cuisine in the entire ground-floor space at the condominium in the heart of the South of Fifth neighborhood. The building is owned by Los Angeles-based Black Lion Investment Group. Founded by its namesake chef, the first Philippe Chow restaurant opened in Manhattan in 2005. In 2019, a[...]

CLIENT NEWS: Coral Rock Development Group Unveils Plans For Mixed-Use Project ‘Dulce Vida’ In Allapattah, Miami

July 21, 2023

Coral Rock Development Group, a leading real estate development company based in Coral Gables, has unveiled plans for Dulce Vida, a transformative mixed-use, mixed-income development located at 1785 Northwest 35th Street in Miami’s Allapattah neighborhood. The project aligns with Florida’s SB 102 law, which aims to promote mixed-income developments and increase access to affordable housing. Dulce Vida will encompass 200 rental units designed to cater to a diverse range of residents. Of these units, 85 will be designated as affordable[...]