Construction is underway on Miami Starlite, a 39-story residential tower in Brickell being developed by Focus and Group Fox Management and designed by Gensler. The project will rise on the former Miami Starlite Motel property at 128 Southwest 7th Street, where Suffolk Construction recently confirmed that they broke ground in January and has already advanced through several early foundation milestones.
An affiliate of Miami Lakes-based Florida Value Partners has filed plans that involve demolishing a 1990s-era office building and replacing it with a residential project in Kendall. The venture is following a larger trend of developers filing under the Live Local Act to gain various boosts and financial incentives.
Swire Properties has announced the sale of the two uppermost penthouses at The Residences at Mandarin Oriental, Miami, a two-tower branded residential and hospitality development planned for Brickell Key in Miami. Each penthouse sold for $49.9 million, totaling $99.8 million across the two transactions. According to Swire Properties, the deals mark the highest-priced condominium sales recorded on mainland Miami and establish a benchmark of approximately $6,300 per square foot. The development is designed by Kohn Pedersen Fox, with Fortune Development Sales exclusively handling sales.
Merrimac Ventures has acquired a retail and office assemblage spanning 400, 416, 424, and 412-414 North Andrews Avenue in Fort Lauderdale’s Flagler Village neighborhood. The South Florida-based investment and development firm’s latest purchase totals 20,200 square feet of existing commercial space and was reported at $7.35 million, including $5.75 million for 400 North Andrews Avenue and $1.6 million for 412-414 North Andrews Avenue. 
Ytech has announced plans to expand the historic Nolan House at 1548 Brickell Avenue in Brickell into the firm’s permanent corporate headquarters and a multi-project Experience Gallery. Led by CEO Yamal Yidios, the Miami-based developer has secured $25 million in construction financing from Banesco USA for the project, which will add a five-story expansion adjacent to the estate’s west façade and bring the property to a total of 32,686 square feet. Recreational Design & Construction, Inc. will serve as general contractor. The property was originally completed in 1926 as the residence of banker George E. Nolan. 
