Articles by Oscar Nunez

FAA Building Permits Approved For 497-Foot-Tall Structure At 526 NE 34th Street In Edgewater

8:00 am on July 11, 2022 By Oscar Nunez

The Federal Aviation Administration has approved building permits for a 497-foot-tall structure in Edgewater, Miami. According to the included coordinates, the building would occupy a 22,000-square-foot assemblage of lots including 510, 522, 526 and 532 Northeast 34th Streets. The property is located across the street from the Hamilton on the Bay rental tower, and is just steps away from a dead end on Northeast 34th Street fronting Biscayne Bay. Three of the lots are owned by Nardware Properties LLC, and the other by 510 34th LLC; Hamilton on the Bay III, LLC is listed as the applicant, all of which are affiliates of Denver-based real estate developer AIMCO. The permits were applied for on April 13, 2022, and were approved by the FAA on July 8, 2022, lasting only three months for approvals.

Construction Completes On Villa Valencia At 515 Valencia Avenue In Coral Gables

8:00 am on July 10, 2022 By Oscar Nunez

Construction is complete on Villa Valencia, 13-story luxury residential high-rise building at 515 Valencia Avenue in Coral Gables, Miami-Dade County. Designed by local architect Hamed Rodriguez Architects with Miami-based L&ND as the landscape architect and developed by Miami-based Location Ventures, the approximately 154-foot-tall structure comprises a distinguished collection of just 39 luxury condominiums ranging from two to three-bedroom units. The development integrates the revolutionary Delos’ DARWIN Home Wellness Intelligence network which provides advanced air purification, water filtration, lighting solutions and enhanced sleep systems. Villa Valencia recently received its Temporary Certificate of Occupancy (TCO); closings are currently underway, and residents have begun to occupy their residences. Winmar Construction served as the general contractor.

PMG And Greybrook Shift 49-Story Downtown Miami Project To Condos And Short-Term Rentals, Launched As The Elser Hotel & Residences

8:00 am on July 9, 2022 By Oscar Nunez

National investment and development firm Property Markets Group and Toronto-based real estate private equity firm Greybrook have changed the programming for a newly completed 49-story project once known as Society Biscayne on the southwest corner of Biscayne Boulevard and Northeast 5th Street. The developers rebranded and launched the 571-foot-tall tower as The Elser Hotel & Residences and the property is now addressed as 398 Northeast 5th Street. The newly completed tower offers 646 fully furnished residences, over 19,000 square feet of curated amenities and 5,000 square feet of prime retail space. PMG Residential is the exclusive sales team for the property, with residences priced from the $600,000’s or the equivalent cryptocurrency exchange rate.

OKO Group And Cain International Get $97.2 Million In Construction Financing For 34-Story One River In Fort Lauderdale

8:00 am on July 8, 2022 By Oscar Nunez

OKO Group and Cain International have secured $97.2 million in construction financing for their next joint venture development: One River, a new 34-story luxury multifamily tower located addressed as 629 Southeast 5th Avenue in Fort Lauderdale, Florida. Financing is broken down into two loans, a senior construction loan provided by Bank OZK, and a mezzanine construction loan provided by JVP Management, which will fund the construction of the tower. One River will encompass 251 high-end apartments and 2,600 square feet of ground level retail space. Vertical construction is scheduled to begin this summer, with delivery expected September 2024.

Berkadia Arranges $100M Construction Loan For Omega Real Estate To Develop The Gardens Residences In North Miami

8:00 am on July 7, 2022 By Oscar Nunez

Berkadia announces it has arranged $100 million in construction financing, provided by Churchill Real Estate, for Omega Real Estate Management to develop The Gardens Residences, a 9-story, 358-unit mid-rise apartment community designed by Behar Font & Partners with 1,100 square feet of ground floor retail in North Miami, Florida. Located on a 4-acre site at 1155 Northeast 126th Street, just off the Biscayne Boulevard corridor at the gateway to Bay Harbor Islands and Bal Harbour, The Gardens Residences is the first phase of Omega’s plan to transform seven contiguous acres in North Miami into a live-work-play community called “The Gardens District.” Ground breaking is scheduled for July 11, 2022, and is expected to create 828 jobs.

Citadel Revealed As Buyer Of 2.5-Acre Development Site At 1201 Brickell Bay Drive In Miami

8:00 am on July 6, 2022 By Oscar Nunez

The buyer behind the last remaining prime water front development site in Brickell, 1201 Brickell Bay Drive, has been revealed to be Citadel, a multinational hedge fund and asset management company led by CEO Ken Griffin. The 2.5-acre site sold for a record-breaking $363 million back in April 2022, but the buyer’s identity was hidden behind a Chicago-based limited liability company. Miami-Dade County property records now show the site was sold by TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida East Coast Realty (FECR), to 1201 Brickell Bay LLC. Hollo paid $15,500,000 for the site nearly 22 years ago, yielding an approximate 2300% profit.

FAA Permits Filed For 44-Story LOFTY Brickell Tower At 99 SW 7th Street In Miami, $170 Million Construction Loan Secured

8:00 am on July 5, 2022 By Oscar Nunez

FAA building permits have been filed for LOFTY Brickell, a 44-story residential building planned for 99 Southwest 7th Street along the Miami River in Brickell, Miami. Designed by Arquitectonica with landscape architecture by Urban Robot Associates and interiors by INC for real estate developer Newgard Development Group (Newgard), the 574-foot-tall tower will ultimately contain 364 fully-finished residences in a variety of studio, one- and two-bedroom units, as well as 40,000 square feet of thoughtfully curated amenities. Newgard has also secured a loan valued at $170 million from 3650 REIT to begin construction at the site.

HTG Completes Father Marquess-Barry Apartments, An Affordable Housing Community In Overtown, Miami

8:00 am on July 4, 2022 By Oscar Nunez

Housing Trust Group (HTG), an award-winning multifamily developer and one of the nation’s largest developers of affordable housing, recently held an official grand-opening for the completion of Father Marquess-Barry Apartments, a $18.5 million affordable housing community for seniors located at 301 Northwest 17th Street in the historic Overtown neighborhood of Miami. Designed by Modis Architects with interiors by B Pila Design Studio and landscaping from JBC Planning and Design, Father Marquess-Barry Apartments contains 60 one- and two-bedroom residential units with rents ranging from $372 to $1,200 per month for income-qualifying seniors ages 62 and up who earn 40 percent and 60 percent of area median income. The property leased up rapidly and is 100 percent occupied.

Innovation Tower’s Exterior Nears Completion At 225 E. Rollins Street In North Orange, Orlando

8:00 am on July 3, 2022 By Oscar Nunez

Exterior work is nearing the finish line on Innovation Tower, a 12-story state-of-the-art medical office building at 225 East Rollins Street in North Orange, Orlando. Designed by HuntonBrady Architects and developed by Peachtree Corners, Georgia-based Meadows & Ohly, the 149-foot-tall structure will yield 326,000 square feet of space housing a mix of medical offices, research and testing centers, healthcare centers and hospital uses. The project is part of AdventHealth’s 172-acre Health Village community just minutes north of Downtown Orlando that comprises apartments, a hotel, additional hospital beds, medical office spaces, general office space and retail shops. Batson-Cook Construction is the general contractor.

Oak Row Equities (Formerly Carpe Real Estate Partners) Acquires 2.1-Acre Edgewater Assemblage For Mixed-Use Development

8:00 am on July 2, 2022 By Oscar Nunez

Carpe Real Estate Partners, a vertically integrated real estate private equity and development company, founded by Erik Rutter and David Weitz in 2018, announced a rebrand to Oak Row Equities. The name change comes as the company continues to mature from its launch in 2018 with one property under management to now over three million square feet under development and one billion dollars of assets under management. In addition to the rebrand, Oak Row Equities announced that it has closed on the acquisition of a 2.1-acre site on one of the last remaining undeveloped city blocks in the urban core. The firm acquired 2600 Biscayne Boulevard in Miami’s popular Edgewater neighborhood for $35 million to develop a mixed-use project designed by architecture firm Arquitectonica. Oak Row Equities is one of Miami’s fastest-growing real estate development firms with active projects in Wynwood, North Miami Beach, Edgewater, and the Design District.

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