Former Space Club owner Louis Puig recently purchased a multi-family apartment complex for $5.567 million at 333 Jefferson Avenue in the South of Fifth neighborhood in South Beach, Miami Beach, with the intentions of converting it in a boutique apartment hotel licensed for short-term stays/rentals. The property is bounded by 4th Street on the north, Meridian Court on the east, 3rd Street on the south and Jefferson Avenue on the west. As per public record, Susan Gale & Serena Joaquim with ONE Sotheby’s International Realty represented the seller, 333 Jefferson Holdings. Gema Ruiz of Cedano Realty Advisors and Jose Maria de Guzman represented the buyer.
Developers Terra Group, lead by David Martin and GFO Investments, lead by Russel Galbut, have started sales on their upcoming condo tower titled Five Park, a 48-story skyscraper that will soon hold the title of the tallest building in all of Miami Beach. Addressed as 500 Alton Road, the structure is anticipated to rise 519-feet, towering over the entrance to South Beach. Designed by Arquitectonica with Gabellini Sheppard handling interiors, the development will yield approximately 278 residences and nearly 40,000 square feet of amenities.
New York City-based JDS Development Group, one of the country’s leading companies in real estate development, has announced 80% of the inventory at Monad Terrace has been sold including all four penthouses. Designed by world-renowned design firm Ateliers Jean Nouvel, Monad Terrace is a high end residential development comprised of two structures of 7 and 14 stories, addressed as 1300 West Avenue and located along Biscayne Bay with it’s interior lot nestled between 13th Street and 14th Street. This sales milestone has been reached with the recent closing of one of the building’s crown jewels, the opulent PH-A, which sold for $11.8 million.