Posts related to Mid-Beach, North Beach, North Bay Village, Sufside, Bay Harbor, Bal Harbour...etc.

Another imcompetant developer. It looks like they were pressuring people to close on 401Blu (and fining them if they didn't) before it was even legal for people to do close at all. People moved in to 25 units before the developer even got a Certificate of Occupancy.

http://www.miamisunpost.com/secondstoryfrontpage.htm

North Beach Condo Owners Evacuated From Building

“It is very questionable how they even closed [on the units] without any certificate of occupancy from the city.” — Hamid Dolikhani, Miami Beach Building Official

By Erik Bojnansky
Editor



“I have never seen anything like this.”

That was how Hamid Dolikhani, Miami Beach’s acting building official, described the situation at 401 Blu, a condominium conversion project of the former Byron Hall apartment building at 401 69th St.

Until last week 25 out of the building’s 207 units had people already residing in them even though 401 Blu is still technically a construction site, Dolikhani said. So the building department ordered the developer to evacuate the premises by June 28.

“They did not obtain any temporary certificate of occupancy. There was no final inspection so we don’t even have that right now,” Dolikhani said. “…It is very questionable how they even closed [on the units] without any certificate of occupancy from the city.”

Another object of curiosity for Dolikhani was the need for the developer, Comprehensive Management Services, to apply for more than 900 different permits for a single project. “It creates a lot of confusion on their part,” the building official said.

Leonard Cohen is more than just confused, he is emotionally stressed out. Cohen, age 61, along with his 63-year-old wife and their two kids were urged to close on their $360,000 two-bedroom, two-bathroom residence by Union Title’s Thomas Sherman, who warned that they would be fined $160 a day unless they closed on their unit. “There wasn’t any push for us to move in. … There was a push for us to close. The issue, as time went by, was financing and closing.”

Yet for most of the buyers, 401 Blu was not seen as an investment property — it was looked at as a future primary residence, Cohen said. “Naturally, if we are closing we want to move in. I asked them if we could and they said yes.”

Cohen and his family lived in their new condominium for three weeks. Then came a letter from the property manager that they would have to move out. “Unfortunately due to circumstances beyond our control, we can no longer have residents living in the building while construction is under way in the common corridors. These areas include the lobby and hallways,” wrote project manager Debra Mason. “Consequently in order for us to complete the work in these areas, for safety purposes, the City is requiring us to vacate all residents at 401 Blu as of 5 p.m. on Wednesday, June 29. When the work in your hallway is completed, you will be able to occupy your unit. During your absence we also will be testing all fire alarms, fire sprinkler systems and elevators. Again, the safety and welfare of our residents is of our utmost priority.”

The notice also informs residents that they have secured hotel rooms and will offer a “per diem allotment” of $100 a day for those seeking alternative lodging elsewhere. According to another resident, 401 Blu condo owners are being housed at Marriott Residence Inns in Aventura and Coconut Grove as well as the Golden Sands Hotel in North Beach.

Cohen said he is grateful for the lodgings provided by Comprehensive Management Services but can’t help but feeling a little screwed. And then there are his neighbors who have been uprooted: “Elderly, young people, there are people with young babies, a year or two years old or less,” he said.

Contacted by the SunPost, Thomas Sherman of the Coral Gables-based Union Title said, “Obviously there has been a misunderstanding with the city.” He referred further inquiry to Robert Fine, a Greenberg Traurig attorney retained by the developer. Fine issued this statement by e-mail: “We are investigating all aspects of the city's concerns and working diligently to resolve these to the extent they exist. In the next few days we hope to have further information regarding a timeframe for a final resolution of this matter.”

According to Mason’s notice, the needed work should be completed in two to four weeks.

what the hell? how can people close on their units without a certificate of occupancy being issued? you'd think that someone would've checked that for at least one of the closings. man...

this is one giant red flag to the public about this developer. avoid at all costs. yeesh.

Looks like the Fontainebleau could tear down the "spite wall" and build yet another tower, and the Eden Roc plans to add a 20 story tower as well. It states the the Eden Roc Project will be managed by a 25-year old whose Daddy runs the complany and his 28 year old brother runs the Riverfront (Ivy, Wind...) project.

http://www.miami.com/mld/miamiherald/business/12229828.htm

Eden Roc to shift owners, look

The Eden Roc would get new owners and a seven-figure makeover under a pending deal. A possible bonus: The Fontainebleau's ''Spite Wall'' might come down, too.

BY DOUGLAS HANKS III

dhanks@herald.com


The owners of the South Beach Marriott are buying the Eden Roc resort and plan to add a 20-story tower with 300 rooms to the 1956 oceanfront hotel, an executive with the buyers said Tuesday.

The expansion would give the Eden Roc 649 rooms and make it the third largest hotel in Miami Beach. The new tower and a planned renovation costing between $15 million and $20 million would come as its neighbor, the Fontainebleau, also adds hundreds of new rooms and prepares a major makeover of its interiors.

Key International, the Ardid family's real-estate development firm, has signed a $100 million contract for the Eden Roc at 45th Street and Collins Ave, said Diego Ardid, a vice president at the company. Owner Blackacre Capital Group declined to comment Tuesday on the reported deal, which Ardid said should close next month.

The Eden Roc and the Fontainebleau once defined Miami Beach glamour, before the glitz, stars and luxury rates headed down Collins for a stylish crop of renovated Art Deco hotels in South Beach.

During the 1950s and 60s, Harry Belafonte, Nat King Cole and Milton Berle took the stage for supper shows at the Eden Roc's Cafe Pompeii. Lucile Ball, Jerry Lewis, Ann Margaret and various Rat Packers vacationed there. Caricaturist Al Hirschfield captured the Eden Roc's star power with a 53-celebrity mural over the hotel's bar. (It was removed years later in a renovation.)

Morris Lapidus designed the Eden Roc and the Fontainebleau, but there was no love lost between the owners. In 1962, the Fontainebleau's Ben Novack built a nearly windowless 17-story tower that cast a shadow over the Eden Roc's pool. Known as the Spite Wall, it currently houses 330 rooms at the Fontainebleau.

The Fontainebleau's new owners apparently are ready to take down that wall, much to the delight of the Eden Roc's buyers.

Ardid said the two hotels have hired the same architect, John Nichols. Nichols' design for the Fontainebleau property has the Spite Wall building demolished and replaced with a tower closer to the beach and, Ardid said, mostly clear of the Eden Roc's pool deck.

''I've seen some drawings,'' said Ardid. ``The new tower will be better for the Eden Roc.''

Fontainebleau's new owners have expressed interest in razing the Spite Wall building to make way for a larger tower, but so far have not announced their intentions. A Fontainebleau spokesman remained circumspect on Tuesday, but suggested a demolition -- which would require city approval -- might amount to a neighborly reconciliation.

''We're working with the new owners of the Eden Roc, and we're in discussions with them to solve the long-standing problem of the Spite Wall,'' said Thomas Bruny, the Fontainebleau's vice president of marketing. ``We're presently in design stages and we don't have any details to announce at this point.''

Key International, a Miami-based company, built the South Beach Marriott in 2000. Ardid, 25, oversees the hotel side of the company, while his brother, 28-year-old Inigo, heads the condominium division, including the Ivy, a 1,500-unit condominium complex planned along the Miami River. Their father, Jose, 57, is president of the company.

The Eden Roc will remain in Marriott's Renaissance chain, Ardid said. The new Eden Roc tower will likely be financed as a condo-hotel, with rooms sold individually. A conversion of the 349-room main building is a possibility too, Ardid said.

New 20-story apartment building for North Beach.

http://www.miamisunpost.com/groundwork.htm

http://www.miamisunpost.com/Groundwork%202-monte%20carlo-re.jpg

Banking on Rentals

The old Monte Carlo hotel at 6551 Collins Ave., Miami Beach, is history; the vintage building was too far gone to save and was recently demolished. A new 20-story oceanfront Monte Carlo is rising in its place with about 130 to 150 (depending on city approval) luxury rental units averaging 800 square feet as well as the expected amenities such as pool, fitness center, etc. Miami architect Luis Revuelta of Revuelta Vega Leon P.A., notes his design aims at re-creating some of the architectural features of the old structure, reinterpreted in a new language. The main lobby will also display pictures and documents of the old Monte Carlo. The Spanish company Euroamerican Group is developing the project, with completion estimated for early 2008.

Looks like the Fontainebleau could tear down the "spite wall" and build yet another tower, and the Eden Roc plans to add a 20 story tower as well. It states the the Eden Roc Project will be managed by a 25-year old whose Daddy runs the complany and his 28 year old brother runs the Riverfront (Ivy, Wind...) project.Yeah, Inigo and Diego are real good guys. Their father (I guess "Daddy" works if you want to sound envious!) has had a lot of success in Miami Beach. At a young age, his sons have been involved in some very large development projects...the South Beach JW Marriott, the Belle Isle Apartments (you know all those apt buildings on the Venetian Causway at Belle Island), the 401 Lincoln Building (the corner of Wash and Lincoln with the Temperature read out), and the western part of the Riverfront project.

New 20-story apartment building for North Beach.

http://www.miamisunpost.com/groundwork.htm

http://www.miamisunpost.com/Groundwork%202-monte%20carlo-re.jpg

Banking on Rentals

The old Monte Carlo hotel at 6551 Collins Ave., Miami Beach, is history; the vintage building was too far gone to save and was recently demolished. A new 20-story oceanfront Monte Carlo is rising in its place with about 130 to 150 (depending on city approval) luxury rental units averaging 800 square feet as well as the expected amenities such as pool, fitness center, etc. Miami architect Luis Revuelta of Revuelta Vega Leon P.A., notes his design aims at re-creating some of the architectural features of the old structure, reinterpreted in a new language. The main lobby will also display pictures and documents of the old Monte Carlo. The Spanish company Euroamerican Group is developing the project, with completion estimated for early 2008.



cool....finally some luxury rentals...I hope thats becomes a trend.


thanks for the info:)

More groundwork news for the area:
http://www.miamisunpost.com/groundwork.htm

"The Fantasy-on-the-Ocean site in Sunny Isles Beach has been sold for around $26 million to a group headed by New York developer Alex Forkosh. (He is currently converting the former Beekman Towers in Surfside into Spiaggia Ocean Residences.) The planned Fantasy Hilton condo hotel never happened and the one acre tract with 150 feet of oceanfront at 15701 Collins Avenue is said to be destined for luxury condominiums without a hotel component. As an example of price appreciation in Sunny Isles Beach, the site sold for $1.75 million in 1995 and $7.75 million in 2000. Now in 2005 — $26 million!"

and

"Urbis & Key International LLP (developers of the Ivy Riverfront in Miami) and Sunny Marina LLC paid $23 million for The Sunny Isles Beach Marina have plans to develop a tower of about 200 luxury condominiums on the 2 1/2 acre site at 400 Sunny Isles Boulevard. The property which comes with a marina, has 640 feet of frontage on the Intracoastal Waterway plus 70,000 square feet of submerged land. Sellers were Fort Apache Marina LLC and Alfred R. Chouinard II. Miami real estate broker Bard Brenner of Sam Brenner, Inc. made the deal."

More groundwork news for the area:
http://www.miamisunpost.com/groundwork.htm
"The Fantasy-on-the-Ocean site in Sunny Isles Beach has been sold for around $26 million to a group headed by New York developer Alex Forkosh. (He is currently converting the former Beekman Towers in Surfside into Spiaggia Ocean Residences.) The planned Fantasy Hilton condo hotel never happened and the one acre tract with 150 feet of oceanfront at 15701 Collins Avenue is said to be destined for luxury condominiums without a hotel component. As an example of price appreciation in Sunny Isles Beach, the site sold for $1.75 million in 1995 and $7.75 million in 2000. Now in 2005 — $26 million!"
Oh yeah...and to give you another idea...when the last owners were in default of their notes...there was an offer for $17M two years ago...they let the bankruptcy proceeds continue...looks like they were not as dumb as someone that would name their project "Fantasy of the Ocean" would seem to be.
Man...at $26M...that is going to be a huge challenge to make that lot work out...he's going to have to scrap all those existing plans and go back to the drawing board...good lucks!!!!

Addition to shops at Bal Harbour planned (gotta love $25 movie tickets):

The whole article can be found at (its long) http://southflorida.bizjournals.com/southflorida/stories/2005/08/22/story1.html

Here are some quotes:
Bal Harbour Shops is set to add 200,000 square feet of retail, a boutique hotel and spa, and possibly an eight-screen, premium movie theater, according to founder and owner Stanley Whitman.
The hotel would front Collins Avenue on Bal Harbour Shops' existing property, while the additional shops, theater and a social events and catering facility would span three levels along the center's 96th Street entrance on land yet to be purchased from the city of Bal Harbour and the Church by the Sea.

The 500,000-square-foot Bal Harbour Shops, named by Women's Wear Daily as the most productive shopping center in the United States, generated $1,421 a square foot in revenue in 2004. That number is expected to rise above $1,600 a foot by the end of 2005.

Whitman, who said he has not yet selected an operator for the proposed hotel, may have timed the venture perfectly. His announcement comes as the Sheraton Bal Harbour, located across from Bal Harbour Shops, is set to be demolished. Miami-based developer The Related Group of Florida and hotel owner Starwood Hotels & Resorts Worldwide plan to build a St. Regis Resort & Residences on the site, with 340 condominiums and 285 condo-hotel rooms. The existing Sheraton has 645 rooms.

With the possible addition of a premium movie theater, Whitman hopes to take advantage of a trend that has worked well for such companies as Muvico, which provide a luxury movie-going experience. This typically includes valet parking, an on-site restaurant, gourmet concession food and beverage service, and extra wide seats with food tray areas for ticket prices ranging from $15 to $25. The nearest movie theater to Bal Harbour was the 906-seat Bay Harbor Islands theater, which closed in 2002.

ugh, a "premium" movie theater that potentially charges $25 a ticket? & here i thought $7-10 was expensive.

now if that price includes complimentary "head" during the movie, that'd be different...

now if that price includes complimentary "head" during the movie, that'd be different...[/QUOTE

HAHAHAA OMG I would be there every night :eek2:

Hold yours horses guys, it would depend on who was giving the head now wouldn't it?

http://forums.netgamers.co.uk/images/smilies/extreme/blowjob.gif

good point, logybogy. if it's Bob the theater manager, then no thanks. however, since J-Lo likes to frequent Miami (& may live there at least part time now for all i know) my vote is for her her. but that might be asking a bit much, so i'd be willing to settle for both of the Williams' sisters (Serena & Venus) instead. :booze: :D

Here is a renderring I had not seen before of the Bel-Aire on the Bay development on North Beach, companion project to the recently completed Bel-Aire on the Beach (both designed by Kobi Karp). One question...where is the parking? Underground? Or is there none?

http://www.kobikarp.com/images/BelAire%20on%20the%20Bay01.jpg

something without a parking pedestal! its beautiful! we actually have to question and look for it... i luv it... something so rare in miami

Some more projects I have run across today:
In North Bay Village:

Racquet Club & Marina, looks to be around 20 or 21 floors.
http://www.themovechannel.com/property/8/racquet/main.jpg

http://www.themovechannel.com/property/Villa/Racquet-Club-&-Marina/105855/details.htm

Bay Treasure, looks to be around 15 floors or so.
http://www.movewithusinternational.co.uk/spi.cmsx?propertyID=88273&h=225&w=300

http://www.themovechannel.com/property/Apartment/Bay-Treasure/117031/details.htm

While I'm in a rendering posting mood, here's Carribean, a 20 story addition to an existing old Miami Beach hotel. I think this is one of the mid beach ones (3000 block somewhere) but I'm not sure.

http://www.kobikarp.com/images/sw%20perspective1.jpg

http://www.kobikarp.com/images/ne%20perspective1.jpg

ooo thanks...nice buildings (esp the last one)


thanks alot dave, you're an indispensable member to us:)

good work Dave, been spending a lot of time checking all this out for us :)

I realize this is a skyscraper website, but I am curious if any of you have been to the AQUA development? I am considering purchasing a resale unit there, but need advice opinions....Thanks in advance for any input! Downtowner

If anyone is familiar with this unique development, PM me....I would love to hear your thoughts about buying for investment purposes....Talk to you soon.

great location

there are pics posted under the sobe= south beach district thread

and there are pics from Don Pancho's "Miami Beach Aerials" thread on the main page....it's great development!!:)

dont guy unless ur gonna live there... dont contribute to the apocalyptical bubble that will kill us all!!!!!!

luv u roark

The Fontainebleau and Eden Roc go before the Historical Preservation Board of MB today to add new towers. Edec Roc wants to "partially demolish" and restore the existing building and construct an additional 21-story Condo-hotel. Fontainebleau wants to demolish its "Spite-wall" on the north end of the property and build a 20-story tower.

http://www.miamibeachfl.gov/newcity/drb/agenda_history.pdf

The Sovereign Hotel at 4385 Collins Ave (the neighbor to the South of the Fontainbleau) is looking to add a 14-story tower to the rear of its property. With the new Fountainbleau towers and the new Eden Roc tower this will be a busy area in a year or two.

http://www.miamibeachfl.gov/newcity/drb/ha20060110.pdf

The Fontainebleau and Eden Roc go before the Historical Preservation Board of MB today to add new towers. Edec Roc wants to "partially demolish" and restore the existing building and construct an additional 21-story Condo-hotel. Fontainebleau wants to demolish its "Spite-wall" on the north end of the property and build a 20-story tower.

http://www.miamibeachfl.gov/newcity/drb/agenda_history.pdf

http://www.miami.com/mld/miamiherald/business/13595315.htm

MIAMI BEACH
Plans for Fontainebleau, Eden Roc get approval

The expansion plans for the Eden Roc and the Fontainebleau and have been endorsed by Miami Beach's historic- preservation board.

BY DOUGLAS HANKS III
dhanks@MiamiHerald.com

Miami Beach's historic-preservation board endorsed major expansions of the Eden Roc and the Fontainebleau Tuesday, clearing away the primary road block for the two projects.

The Eden Roc wants a new 20-story, 280-room tower right next to a new 20-story, 500-room tower by the Fontainebleau. The all-glass Fontainebleau tower would replace that resort's famous Spite Wall building, which casts a shadow over the Eden Roc's pool.

RAZING BUILDINGS

The board approved razing the 1962 building, saying its notorious back story (Fontainebleau owner Ben Novack reportedly built it as a swipe at his competitor next door) and nearly windowless north side weren't worth saving.
Both new towers were approved too, though the board will meet again on renovations to the Fontainebleau's existing Chateau building.

Though some city approvals remain, developers behind both projects viewed the historic-board votes as green lights for construction projects they hope to begin this year.

MAJOR RENOVATIONS

Both hotels plan significant renovations too, with the Fontainebleau expected to close its 535-room Chateau building for about two years. Its plans include a new live-act venue to replace the Tropigala theater, a complex of restaurants and high-end shops, and a redesigned pool deck with Versailles-style gardens and a waterfall video sculpture that will beam images into liquid.

''It's going to be the most important [public] sculpture in the city, and probably in the state,'' said Glenn Schaeffer, the casino developer recruited by Turnberry Associates to reinvent the Fontainebleau with a Las Vegas feel.

Owners of both hotels waived setback protections to allow construction of the new towers, which would sit only 20 feet away from each other. Both were designed by John Nichols, a Coral Gables architect.

MEXICAN MAGNATE

Also Tuesday, the Eden Roc development team submitted new disclosure forms revealing that Mexican resort magnate Roberto Chapur was the majority owner of the hotel.

He apparently joined the Ardid family, owners of the South Beach Marriott, in buying the Eden Roc last year; the forms show the president of the Miami-based Palace Resorts owning a 70 percent share in the Eden Roc, with the Ardids owning the remaining 30 percent.

Diego Ardid, the principal developer in the project, said the Eden Roc would remain a Renaissance Marriott hotel and would not join Palace's roster of all-inclusive resorts. All six Palace resorts are in Mexico.

Ardid also said his team has dropped earlier plans to sell off the new tower's rooms as condo-hotel units. He said the Mid-Beach area has seen enough hotels converted to condominiums that it made more sense to keep the Eden Roc a standard hotel.

Rendering of the St.Regis to replace the Sheraton Bal Harbour:

http://www.condohotelcenter.com/images/st-regis.jpg

Anyone have a rendering of the new Eden Roc and Fontainebleau?

http://www.miamisunpost.com/ihosttemplates/Bal%20Harbour%20rendering.jpg

Nice rendering. We don't get many pictures of that area posted on here.

I've been looking for this one for a while. A rendering of the new hotel going up next to the Wyndham (just north of the Blue and Green Diamonds) at 48th and Collins:

Mansion on the Beach (permits for 200 feet tall)
http://www.mansiononthebeachmiami.com/demo.jpg

http://www.mansiononthebeachmiami.com/?directorymreferer=true

Some of the many small scale North Beach developments going on from the website: http://www.urbanresource.com/gonorthbeach/

Carlyle (7411 Carlyle Ave)
http://www.urbanresource.com/images/dev/gallery/155/render2.jpg

63 NoBe (6301 Indian Creek Dr)
http://www.urbanresource.com/images/dev/gallery/145/63rdhighres.jpg

Avanti (163 North Shore Dr)
http://www.urbanresource.com/images/dev/gallery/21/exterior-rendering.jpg
http://www.urbanresource.com/images/dev/gallery/21/avanti.jpg

Bay Drive Villas (948 Bay Dr)
http://www.urbanresource.com/images/dev/gallery/166/baydrivevillas-view-1.jpg

Baylights (1910 Bay Dr)
http://www.urbanresource.com/images/dev/gallery/167/baylightsrendering.jpg

Casablanca Villas (6362 Collins Ave)
http://www.urbanresource.com/images/dev/gallery/126/casablanca-villas.jpg

Deauville Parking Garage (6615 Indian Creek Dr)
http://www.urbanresource.com/images/dev/gallery/149/mainperspective(night).jpg

Enclave at North Beach (6881 Indian Creek Dr)
http://www.urbanresource.com/images/dev/gallery/158/rendering.jpg

Linx (165 South Shore Dr)
http://www.urbanresource.com/images/dev/gallery/138/linx-back-view.jpg

Lofts at Biarritz (1966 Biarritz Dr)
http://www.urbanresource.com/images/dev/gallery/148/front-persp.jpg

Normandy Place (2000 Normandy Dr)
http://www.urbanresource.com/images/dev/gallery/147/normandy1.jpg

Positano (600 76th ST)
http://www.urbanresource.com/images/dev/gallery/156/positanophoto.jpg

Privata (25 North Shore Dr)
http://www.urbanresource.com/images/dev/gallery/142/streetview.jpg

Tatum Point (7700 Tatum Waterway Dr)
http://www.urbanresource.com/images/dev/gallery/146/tatum-view-2.jpg

The Waterways (8101 Crespi Blvd)
http://www.urbanresource.com/images/dev/gallery/168/building.jpg

In Miami, a tower designed by Mr. Meier also hasn't broken ground. Real-estate brokers with knowledge of the development say the 101-unit structure, Beach House, may soon be canceled because of a lack of preconstruction sales. The developers, Lynx Strategic Development, didn't return calls seeking comment.

http://www.realestatejournal.com/buysell/markettrends/20060403-mcmullen.html

^ so lynx may have both projects as no-gos !!! thats disappointing cuz both were fantastic and brought big name architects to miami projects.

TURNBERRY TAKES OVER CONDO PROJECT

Turnberry Associates is taking over the proposed Beach House condominium project in Surfside that was designed by well-known architect Richard Meier. The planned 12-story glass building will now be called Turnberry Beach House.

Turnberry president and COO Bruce Weiner said plans are to break ground this summer. Miami-based Lynx Strategic Development -- which conceptualized the idea of Beach House -- will be a non-managing partner in the project.

Turberry Beach House, slated to go up on the site of the Beach House Hotel, is to have 101 condo units. The Aventura-based developer's other projects include condo-hotels at the MGM Grand in Las Vegas, Atlantis in The Bahamas and Fontainebleau Resort on Miami Beach.

where did you hear about Turnberry taking over the Lynx Strategic Development/Meier Site in Surfside? Man you really gave me some great news. I believe Surfside is an area way undervalued......sitting pretty between one of the most expesive area throughout Florida "Bal Harbour" Surfside is even more unique... High Risers of Twelve Floors (12) very unique indeed.

So the Beach House Hotel is being demolished? I really liked that place.

The 20-story Monte Carlo Luxury Rentals was approved

http://www.miamisunpost.com/thirdstoryfrontpage.htm

Twenty Stories High
Historic Board OKs Modern High-Rise to Replace 1940s Hotel

“I could not in good conscience support this project as it was a classic case of demolition by neglect.” — dissenting HPB member Mitch Novick

By Tiffany Rainey

Despite objections from city staff, the Miami Beach Historic Preservation Board finally granted approval for developers to add six new floors to a proposed high-rise in North Beach where a late 1940s hotel once stood, during a meeting Tuesday.

Key Monte Carlo LLC won the approval it needed to build a 20-story, multifamily tower at 6551 Collins Ave., formerly the site of architect Roy France’s 1948 Monte Carlo Hotel.

According to staff reports, the developers have been seeking a certificate of approval for the condo since November 2004. Reports stated that the project was approved last September under the condition that “Levels 15 [through] 20 of the proposed tower shall be eliminated, or redistributed to the east side of the building in a manner [that] results in a lower building and a more compatible relationship with the punctured masonry façade of the original Monte Carlo, as well as with the Sherry Frontenac and Brazil hotels, and Collins Avenue, in a manner to be reviewed and approved by staff.”

In March, developers disputed the decision on the grounds that the stipulation limiting construction of the future tower to only 14 stories came from an insufficient number of HPB members. This week’s meeting was a result of the dispute, and though all board members were present and virtually all voted in favor of the height addition, staff still had reservations.

“The board originally made the correct decision,” William Cary, director of Design, Preservation and Neighborhood Planning, said. “The relationship of a 20-story building is less desirable. Fourteen stories is more appropriate to the environment.” Cary called the presentation, including a shadow study, a “wash at best.”

“Even if it’s a wash,” replied Neisen Kasdin, attorney for the developers, “we should go for the better design.”

Most HPB members seemed to agree. The design for the 20-story development will consist of a taller, thinner tower more similar to the original design of the hotel, according to HPB Chairman Randall Robinson. As one of the three people who wrote to the city requesting a North Beach Historic District, Robinson was instrumental in having the Monte Carlo Hotel declared a “contributing” (significant) building prior to its demolition.

“They were basically vertical and they were towers,” Robinson said of the original architecture. “What’s being proposed today is more in line with that.”

Several other board members backed his sentiment about the new design.

“I am amazed how you have won me over,” said board member Gary Appel. “Slowly but surely the design of this structure has consistently improved. I feel the higher design is a more elegant solution. I support the [project] and I never thought I would.”

There was, however, one member of the public who spoke out against the additional six stories. Jonathan Simpson, of the neighboring Mimosa’s Condo Association, voiced his objections to the board.

“We don’t oppose development but we have concerns with what is being proposed,” Simpson said. “We’re afraid with the size and mass to the north it will create a giant man-made ravine. We are only three stories.”

Kasdin quickly pointed out that the Mimosa, located at 6525 Collins Ave., would be adding an additional six stories to bring it to a height of nine stories. Board members concurred, though Simpson said he had not known about the height addition.

“I’m sympathetic to your argument but no matter what, it will block your existing structure,” said Judith Berson-Levinson, a board member who said her bedroom window faces the new project. “It’ll be a canyon either way. If I was you, I’d want to go taller and thinner.”

Not all HPB members were in favor of 20 floors. HPB member Mitch Novick was the lone no vote. “I could not in good conscience support this project as it was a classic case of demolition by neglect,” Novick said.

Standing at 13 stories, the old Monte Carlo opened in 1948 and was designed by Roy France, who also created such historic landmarks as the Ritz Plaza, the National Hotel and the Cadillac. In 1951 an addition designed by Albert Anis (architect of the Clevelander) and Melvin Grossman (architect of the Deauville Hotel) was added to the Monte Carlo. The hotel has been empty since the early 1990s.

Just before the Miami Beach City Commission gave final approval for the creation of a North Beach Historic District in February 2004, then-building official Phil Azan declared the Monte Carlo “beyond repair” and an “unsafe structure.” At the time the Miami Design Preservation League asked the city to investigate whether or not the owners allowed the building to fall apart — a process known to city officials and preservationists as “demolition by neglect.”

Angel Torres, a co-owner of the Monte Carlo who reported the building’s poor condition to the city, insisted they did everything required to maintain the building. “We were doing everything the city required us to do. All we are doing is trying to do the right thing,” Torres told the SunPost in February 2004.

— Erik Bojnansky contributed to this story.

Comments? E-mail tiffany@miamisunpost.com.

Mei is under construction:

http://www.multi-housingnews.com/multihousing/search/article_display.jsp?vnu_content_id=1002385080

Foundation Work Begins on Florida Condominium Located on Last Parcel of Oceanfront Land in Miami Beach

APRIL 24, 2006 -- Miami Beach, Fla. -- A few weeks after securing a foundation permit, construction has begun on Mei, a 21-story, 134-unit luxury condominium to be erected on the last parcel of oceanfront land here.

In all, 2,400 cubic yards of concrete will be poured for the foundations, encompassing a caravan of over 120 concrete trucks. This portion of the construction process will take an estimated two to three months.

Mei is co-developed by Mitchell Schneiderman and Kevin Maloney, principals of PMG Collins LLC and local developer Bruce M. Goldstein of Hollywood. International Sales Group is handling sales onsite.

“Piles have been installed and de-watering, excavation, formwork and steel placement activities are underway,” said Daniel Diesendruck, TGI Construction’s senior project manager. The Hollywood-based company is the general contractor for Mei.

With construction well underway, the delivery of Mei is slated for July of 2007. When completed, Mei will house 134 ultra lavish residences, spanning from 900 to 2,500 square feet in living space, with prices ranging from $1 million to $2 million.

A building inspired by Asian grace and beauty, Mei will feature a tea lounge and library as well as an Asian spa and fitness center, a 24-hour attended lobby with valet and concierge and a pool deck.

The 19-story addition to the Carribean is set to begin as well:

http://www.multi-housingnews.com/multihousing/search/article_display.jsp?vnu_content_id=1002384064

Construction Begins on South Tower Foundation of Oceanfront Condo in Florida

APRIL 21, 2006 -- Miami Beach, Fla. -- A foundation permit has been secured for the construction of the new south tower, one of two that makes up Caribbean, a high-end oceanfront condo here, that will have 103 luxurious units.

General contractor GT McDonald is building the 19-story structure. Christa Construction and Development LLC is renovating the north tower, a landmark 1941 building whose facade will be restored to its original grandeur. The two buildings will be linked by a lavish outdoor recreation and pool deck.

“We have a foundation pouring date penciled in for 60 days out, however work on the site will begin almost immediately,” said John Casey, president of Christa Construction & Development LLC.

Looks nice...

http://www.biscaynelandingmiami.com/images/towers1-2.jpg

http://www.biscaynelandingmiami.com/images/towers3-4.jpg

Biscayne Landing developers unveil new vision for massive project

BY TIM HENDERSON
thenderson@MiamiHerald.com

Biscayne Landing developers have unveiled a new vision of the 6,000-unit waterfront project in North Miami that emphasizes streets, shops and parks rather than high-rises.

Developers made a presentation Tuesday to North Miami officials at Gwen Margolis Community Center.

The new plans, still in the concept stage, show broad avenues bordered by stores, with a mix of condos, townhomes and loft-style dwellings above them. Earlier plans called for high-rise condo buildings bordered by townhouses, with a central shopping center.

''The condo market is very soft,'' said Paul Eberz, who heads the project for Swerdlow Boca Developers.

''It'll be back in six months, of course. If I could change it completely, based on current conditions, I would build all townhouses, because that's where the market is right now,'' Eberz said.

Two condo towers are already under construction, under plans previously approved, and will be ready for occupancy early next year, Eberz said.

The new plans are still informal and must be approved by the city, which owns the land east of Biscayne Boulevard and south of Northeast 151st Street.

http://www.miami.com/mld/miamiherald/14490651.htm
http://www.biscaynelandingmiami.com/floorplans.html

Another Biscayne Landing article:
http://southflorida.bizjournals.com/southflorida/stories/2006/05/01/daily13.html?surround=lfn

Sources see buyout talks at Biscayne Landing

South Florida Business Journal - 7:28 PM EDT Mondayby Susan Stabley
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Boca Developers is in negotiations to buy out Michael Swerdlow's interest in their massive 6,000-unit Biscayne Landing project, according to two city officials.

Considered one of the largest redevelopment projects in the state, the Biscayne Landing development was estimated at $1 billion three years ago. The mixed-use project is on 190 acres of a former landfill. The project was bidded and won by the Swerdlow Group; work began January 2003.

North Miami Mayor Kevin Burns and Council member Michael Blynn said Deerfield Beach-based Boca Developers been in talks with major national financial firms. Frank Schnidman, the city's CRA director, did not mention the firms, but was aware of the potential partial change in ownership.

Boca Developer might have to pay about $400 million to buy out Coconut Grove-based Swerdlow Group. Swerdlow brought in Boca Developer as a partner to build the project.

Two 25-story towers are nearly complete, the project Web site states. Two more towers are nearing sell out and are expected to be developed next, along with townhomes and lofts.

Some of the sources said there has been a disagreement between the two companies over how to build out future phases with Swerdlow wanting low-rise townhomes, while Boca Developers has been pushing for more condo towers.

Any kind of ownership change might come in conflict with the development agreement with the city, the mayor said, adding that he's "not happy" about any pending swap of ownership.

"The people of North Miami hired Michael Swerdlow," Burns said. "We know Michael better that anyone else. We know the good and the bad. We did our due diligence."

The Blue and Green Diamonds are finally nearing sell out. Hey it only took them 13 years.

http://www.miamisunpost.com/groundwork.htm

wow... i remember when i was a little kid driving by those with my little water wings on, marveling at how big they were...

Look at #3b. in this agenda. It states that the Fontainebleau is trying to revise its permit so they can keep the "north tower". Does this mean the Spite Wall is staying afterall?

http://www.miamibeachfl.gov/newcity/drb/agenda_history.pdf

CANYON RANCH SALES

BEGIN ON MIAMI BEACH
http://www.miami.com/mld/miamiherald/classifieds/real_estate/14511292.htm


Sales have begun for Canyon Ranch Living, a WSG Development property at 6801 Collins Ave., Miami Beach.

The condo features a spa and fitness center and will house 430 one-, two- and three-bedroom residences and 150 hotel suites. Prices start at $1 million. Completion is expected for early 2007.

Call 1-888-987-9876 or visit www.canyonranchliving.com for details.

Expensive Mid Beach development (prices start at over $3 million):

http://www.miamisunpost.com/groundwork.htm

Ten at 100 37th St. in Miami Beach has just 10 units, created by Miami-based architecture group Arquitectonica from a gut redesign of a vintage Art Deco hotel and a neo-modern-styled new structure on the adjoining parking lot. The 10 oceanfront residences range from 2,116 square feet to 4,240 square feet and each comes with its own poolside cabana. Amenities include private elevators, private libraries and media rooms, and a beach club. Developers Michael Mailis, Scott Ross, Brandon Roth and Jay Pollak, principals of Modus Vivendi, have partnered with Fendi Casa, the home-design division of the famed Italian luxury goods company, to offer each buyer a choice of three Fendi Casa design and accessories packages — modern, classic and contemporary, worth between $600,000 and $800,000. Ten buyers also receive a Vespa Scooter to get around town — just in case they don’t want to use the property’s club car and staff driver. Price for all this luxury is about $1,500 per square foot.

Rendering of TEN from the Miami Herald:

http://specialsections.miami.com/SS/Page.aspx?sstarg=&facing=false&secid=20311&pagenum=32
http://img.travidia.com/ss-page/229674

Is it named TEN for the amount of parking spots it has?

maybe TEN stands for the number of units it will offer.

Companion project to Lexi, here's Lexi on the Bay, a 2 tower development for North Bay Village. The taller one looks to be about 25-stories.

http://www.kobikarp.com/images/lexibay01.jpg

http://www.kobikarp.com/images/lexibay02.jpg

http://www.kobikarp.com/images/lexibay03.jpg

Does anyone know exactly where the sight of LEXI ON THE BAY is in North Bay Village?

probably where rogers restaurant closed

Related is delaying the demolition of the Sheraton Bal Harbour, probably until after the Super Bowl.

http://www.miami.com/mld/miamiherald/business/14819900.htm

DEVELOPMENT
Sheraton stays open for now

The Sheraton Bal Harbour gets a reprieve as developers hold off demolishing the resort to make way for condos. A cooling real estate market helped spark the delay.

BY DOUGLAS HANKS III
dhanks@MiamiHerald.com

Demolition of the Sheraton Bal Harbour will wait until next year as developers shuffle their plans for a condominium and resort complex, an executive said Wednesday.

The oceanfront resort will remain open at least through 2006, and probably into February, when the Super Bowl comes to Dolphins Stadium. And when developers replace it with the pricey new St. Regis, they will retain ownership of most of the 230 rooms instead of selling all of them off as condo-hotel units, as earlier planned.

The change in plans comes in the face of a cooling real estate market and rising hotel room rates. Developer Jorge Perez, a partner in the project with owner Starwood Hotels and Resorts, said a slowdown in the condo market has made the lodging business look more attractive than it did a year ago.

''Everything is a reflection on returns,'' said Perez, chairman of the Related Group of Florida, the region's largest builder of condominium towers. ``What we're looking at is given the risk that's involved; what do we feel most comfortable in doing -- whether it's holding or selling.''

The Sheraton, the region's second-largest hotel, had been slated to close in August, and the loss of its nearly 700 rooms prompted several large conventions to steer clear of Miami Beach this year, tourism officials said.

Perez said only between 50 and 80 of the 230 rooms at the St. Regis will be individually owned. The cutback in condo-hotel units for sale reflects the hotel industry's growing unease with the financing mechanism.

''There is hotel brand anxiety at the moment right now with condo-hotels,'' said Scott Berman, a Miami-based analyst with PricewaterhouseCoopers.

Condo-hotels, where rooms are sold at a premium in exchange for giving owners about half of the unit's rental revenue, provide profits upfront for developers, but some hoteliers say they can be problematic to operate.

A hotel can't force owners to rent out their rooms, leaving operators to guess how many beds will actually be available to guests. And when it comes to maintenance and capital improvements, hotels must rely on condo owners for much of the funds.

Hyatt Hotels and Resorts this year decided not to operate any condo-hotels unless at least 100 rooms were left off-limits to buyers. A Starwood spokeswoman said the company had adopted a similar policy for future projects.

In deciding to keep most of the St. Regis for themselves, Starwood and Related are asking some buyers to drop their contracts for smaller units and upgrade to the large condo-hotel apartments still on the market. And architects may redraw plans to create more rooms with smaller floor plans -- the kind of design that hotels usually find the most profitable.

Joel Greene, a broker who runs condohotelcenter.com, said the $1 million the St. Regis wanted for its studio apartments, some under 800 feet, seemed too high for the market.

''There really hasn't been a whole lot of interest since I put it up on the site,'' Greene said of the St. Regis. ``A lot of that, I think, is due to price.''

Perez said about a third of the project, which includes roughly 270 standard condominium units, are sold. That pace, Perez said, shows just how much the real estate market has slowed down since the project launched.

''It's a good response in today's market,'' he said. ``Compared to a year ago, it's not.''

THERE ARE A LOT OF BUILDINGS IN NORTH BAY VILLAGE THAT DON'T GET ANY COVERAGE CAN ANYONE POST NEW RENDRINGS OR UPDATES ON THE FOLLOWING...BAYWALK, SUNSET BAY ( NEXT TO SPACE 01 ), CASA MARINA SUPPOSED TO BE 2 21 STORY BUILDINGS, THE RACQUET CLUB ( ACROSS THE STREET FROM CIELO ) THE ASTOR AND THE ADAGIO, PRISMA, LEXI ON THE BAY, WHAT EVER HAPPENED TO SPACE 02, IS THAT HISTORY? IF SO IT IS A GREAT AVAILABLE SITE, WHAT ABOUT BAY TREASURE CONDOS (NOT TREASURES ON THE BAY). THERE IS ALSO THE SITE ACROSS THE STREET FROM GRANDVIEW PALACE. IF THIS STARTS TO HAPPEN AND THE BUILDINGS ARE GOOD NBV COULD END UP AS THE MOST BEAUTIFUL NEIGHBORHOOD AROUND

It looks like One Bal Harbour is going to have a long delay. They are actually dismantling the top few floors of the building to investigate the construction accident:

http://www.miami.com/images/miami/miamiherald/14920/222621125040.jpg

http://www.miami.com/mld/miamiherald/14918416.htm

BAL HARBOUR
Fatal rooftop scene to be 'deconstructed'
To find out why three men died in a construction accident last month, investigators are taking apart the top three floors of a Bal Harbour high-rise.

BY SCOTT HIAASEN AND DAVID OVALLE
shiaasen@MiamiHerald.com

Construction crews are dismantling the upper floors of a Bal Harbour condominium as part of an investigation into the deaths of three construction workers crushed in a roof collapse last month.

Under the supervision of the Occupational Safety and Health Administration and Miami-Dade County police, workers are slowly taking apart the top three floors of One Bal Harbour, where the three men were consumed by a deluge of wet cement that was being poured for the building's roof.

County police and OSHA investigators would not discuss the details of the inquiry, though they confirmed the rooftop is being removed. Bal Harbour officials described the job as ``forensic demolition.''

Investigators will be looking for evidence buried in the concrete that could explain the May 6 accident, and they may try to reconfigure the rooftop elsewhere, not unlike the reconstruction of a downed plane, said Bal Harbour Building Director Daniel Nieda, who has been briefed by police.

''They're looking at it still as a homicide case,'' Nieda said of the police investigation.

The accident killed workers Menes Daniel, 48, of North Miami; Torivio Acevedo, 36, of Pompano Beach; and Endy Guirand, 34, of Biscayne Gardens. At least one other worker was injured.

Relatives of Guirand and one injured man have filed lawsuits accusing the main contractor on the building, Boran Craig Barber Engel Construction, of negligence. More lawsuits are expected.

Officials initially said the framework used to hold and shape the wet cement appeared to fail.

''We think it wasn't assembled properly, or inspected properly. It was put up in a haphazard way,'' said attorney Stuart Grossman, who represents Guirand's family and survivor Cornelio Ruiz.

Two private inspectors who approved the framework also have been accused of negligence in one suit.

Lawyers for Boran Craig could not be reached for comment on Tuesday.

The accident happened as workers were using a pump to push the cement through a hose and pour it to make the roof. The framework gave way, pouring the cement onto the men below.

''It all looks like it came down at once,'' said attorney Alex Reboso, who represents the Daniel family. Reboso recently visited the accident scene to take photos. ``There wasn't any time to get out.''

Lawyers involved in the lawsuits won a court order to have engineers and other experts present to observe the dismantling of the condominium's top three floors. Reboso described the deconstruction as ''very methodical'' and said it could take several weeks to complete.

After the floors are removed, the contractors will be able to complete the construction of the 26-story high-rise at 10295 Collins Ave., Nieda said.

Does anyone know of the changes to these businesses? I thought these were becoming healthier to accommodate Canyon Ranch.

Here is a webcam showing construction of the 36 and 25 story Canyon Ranch Living towers:

link (http://www.oxblue.com/client/wsg/canyon/)

those are great webcams of the construction site! thanks for sharing. anyone know what building is almost completed on the second webcam there?

From July 13, 2006 MiamiSunpost.com:

For North Beach, There’s Still Pancakes

In still more development news, Murmurs has long heard about the pending demise of the Denny’s at 6901 Collins Ave. According to North Beach resident Daisy Lee Myers there is now a last day: August 17. Myers summed up the dramatic conclusion of the 24-hour eatery: “END OF OUR HOOD.”

“Canyon Ranch is using it for its conference offices,” Myers explained in her e-mail, referring to the condo/health resort complex that’s being developed across the street. The fact that Denny’s food likely would be an unwelcome temptation for Canyon Ranch’s future customers and residents is of little consequence to Myers. “There’s no Denny’s except 173rd Street after our Denny’s is gone. Corporate Denny’s never buys the land [their] stores [restaurants] sit on; therefore, they must leave. Very stupid [for Denny’s] CEO not to purchase the land that [its restaurants] sit on. Well, there’s IHOP... not.”

For those who just moved to the North Beach hood and who don’t mind pancakes for breakfast, lunch or dinner, there’s an International House of Pancakes at 6928 Collins Ave. And, according to IHOP’s corporate Web site, “Although IHOP restaurants are best known for their award-winning pancakes, omelettes and other breakfast specialties, IHOP restaurants are open throughout the day and evening hours and offer a broad array of lunch, dinner and snack items as well.” So don’t despair, Ms. Myers. There’s still an alternative corporate diner stop in North Beach — at least for now.

From July 13, 2006 MiamiSunpost.com:

For North Beach, There’s Still Pancakes

In still more development news, Murmurs has long heard about the pending demise of the Denny’s at 6901 Collins Ave. According to North Beach resident Daisy Lee Myers there is now a last day: August 17. Myers summed up the dramatic conclusion of the 24-hour eatery: “END OF OUR HOOD.”

“Canyon Ranch is using it for its conference offices,” Myers explained in her e-mail, referring to the condo/health resort complex that’s being developed across the street. The fact that Denny’s food likely would be an unwelcome temptation for Canyon Ranch’s future customers and residents is of little consequence to Myers. “There’s no Denny’s except 173rd Street after our Denny’s is gone. Corporate Denny’s never buys the land [their] stores [restaurants] sit on; therefore, they must leave. Very stupid [for Denny’s] CEO not to purchase the land that [its restaurants] sit on. Well, there’s IHOP... not.”

For those who just moved to the North Beach hood and who don’t mind pancakes for breakfast, lunch or dinner, there’s an International House of Pancakes at 6928 Collins Ave. And, according to IHOP’s corporate Web site, “Although IHOP restaurants are best known for their award-winning pancakes, omelettes and other breakfast specialties, IHOP restaurants are open throughout the day and evening hours and offer a broad array of lunch, dinner and snack items as well.” So don’t despair, Ms. Myers. There’s still an alternative corporate diner stop in North Beach — at least for now.

I have the feeling that NOBODY gets in the way of Daisy Lee Myers when it's "Pancake Eatin' Time" and lives to tell the tale.

I've had a few late night meals at that Dennys. I had a friend that lived in LaGorce Palace at 6301 Collins.....ah the memories.

Miami Sun Post just seems militantly anti-development.

those are great webcams of the construction site! thanks for sharing. anyone know what building is almost completed on the second webcam there?

The second webcam shows the first, shorter Canyon Ranch building, on the left in this picture:

http://img529.imageshack.us/img529/4117/canyonranchpicfm9.jpg

Has anyone seen any plans regarding the Golden Sands? I wonder how well it will fit with the other Canyon Ranch properties.

Eloquence on the Bay in North Bay Village has started sales. Here is an add from the Herald. Looks to be priced will below most of the other NBV projects.

http://img.travidia.com/rop-ad/3262978

"Eloquence" on the Bay?? Man, this is a sure sign that these guys must be running out of names.

Maybe "Rapier Wit on Brickell" or "Spelling Bee Champion Towers" is coming next.

My vote, however, would be for "Brazen Hussy on the Boulevard."

"Eloquence" on the Bay?? Man, this is a sure sign that these guys must be running out of names.

Maybe "Rapier Wit on Brickell" or "Spelling Bee Champion Towers" is coming next.

My vote, however, would be for "Brazen Hussy on the Boulevard."
How bout for the design district.. "Anorexic Transexual at the Point"... a bit edgy, no?

Hmm Im likeing your names guys, they are brave and truthful. Along 79th street they can have "Poor and downtroden on the Curb" and "Nearly homeless by the canal"

I am contacting every bank between here and Shanghai to fund both "Anorexic Transexual at the Point" and "Nearly Homeless By The Canal."

Right after "Menopausal Ridge at Aventura" and "Pistolas Y Oxycontin Towers"

How about "We Ran Out of All Other Possible Names So Now We Are Stuck With This Shitty Name On the Sidewalk the Nine Hundredeth"? Location: Everglades.

How about "We Ran Out of All Other Possible Names So Now We Are Stuck With This Shitty Name On the Sidewalk the Nine Hundredeth"? Location: Everglades.

"Floodwater Estates"

Is Cielo rising? It is across the street from Eloquence. Does anyone know about Lexi on the Bay, or Baywalk?

Progress photo of Lexi from May:

http://i.pbase.com/o4/97/87197/1/62719366.4QHeIaSQ.LEXIMay063.jpg

You know it is pretty incredible what is going on in North Bay Village. Here is a new developments list that I know of. Any others to add?


Indigo Lofts
Prisma
Eloquence on the Bay (2 towers)
Bridgewater
the Lexi
Lexi on the Bay (two towers)
Aqua Vista
American Prime


all of those above are Kobi Karp

360
Bay Treasure Condos (not Treasures on the Bay)
Space 01
Space 02 (it was in play at one point)
Blue Bay Tower
The Astor
The Adagio
Cielo
8000 West Avenue 2 21 story towers
Sunset Bay

That is amazing considering they are all smack dab in the middle of the bay, NBV will have its very own considerable skyline-- bigger than many American cities-- and rising out of the water, it could be very interesting.

Another Kobi Karp project will start construction in North Miami Beach this December. This coming from GlobeST (http://www.globest.com/news/694_694/miami/148597-1.html), who says the 78 unit, 15 floor Bel Aire on the Bay has sold 25% of its units since April.

Developer Unveils Plans for $78M Condo Project
By Natalie Keith
MIAMI- Atlantic Sunset Bay LLC, an Aventura-based developer, plans to begin construction in December on the 15-story, 78-unit Bel Aire on the Bay condominium project at 6800 Indian Creek Dr.

The project will contain units with two bedrooms; two bedrooms and a den; and penthouses with three-bedrooms. The units will range in size from 1,214 sf to 3,174 sf. Among unit amenities will be 9.5-ft ceilings with floor-to-ceiling windows, stainless steel appliances and built-in espresso machines. Building amenities will include an 18-slip marina, Zen garden, library and cigar and wine cellar. The architect is Kobi Karp.

Fernando DeNunez, of Miami-based Fortune International which is the exclusive sales and marketing firm on the project, tells GlobeSt.com that prices for the units range from $560,000 to $1.1 million for the two-bedroom units. The prices for the penthouses are $2.4 million and $2.5 million. The estimated sell-out of the project is $78 million. Sales began in April and 25% of the units have been sold.

Among attributes of the project are its central location in North Beach, close to Aventura, Bal Harbour shops and Lincoln Road. Another attribute is the views of the Biscayne Bay. “The views are a very strong asset of the project because we have striking views of the Miami skyline,” DeNunez says.


Image from Kobi Karp's website (http://www.kobikarp.com/site/):
http://www.kobikarp.com/images/BelAireontheBaynew.jpg

Here's some update photos of the nearly completed Bridgewater Condo in North Bay Village:

Lexi in the background top-left:
http://www.kobikarp.com/images/BridgewaterUC11.jpg

http://www.kobikarp.com/images/BridgewaterUC12.jpg

http://www.kobikarp.com/images/BridgewaterUC10.jpg

-Canyon Ranch's quest to remake North Beach in its image continues. They are proposing a 5-story "mixed-use, residential/retail/convention center development" on the block including 6900-6924 Collins Ave, 201-239 69th Street, and 6901-6925 Harding Ave.

-Also a 7-story multifamily building is planned for 4100-4130 PineTree Dr and 300-344 42nd Street (the backside of the Aurthur Godfrey Road lots).

http://www.miamibeachfl.gov/newcity/drb/agenda_design.pdf

Some images I found of 'Grandview West', another North Bay Village building:

http://www.2dimes.com/gallery/images/zclients/grandviewwest/gv-west_v23-001.jpg

http://www.2dimes.com/gallery/images/zclients/grandviewwest/gv-west-after.jpg

Hey! Thanks for those renderings. It is a huge addition to North Bay Village. Where did you find those renderings? Are there any floor plans available to be seen? It's unfortunate that they felt the need to add those neo-classical elements to the design. Probably done by the guys who did 360 and put those ridiculous shell, cake decorations all over the top of it. I suppose that those little touches make reference to the fabulously tasteful Grandview Palace lobby. It is continually amazing to me that people see such gestures as opulent, and 'rich'. In 2006 there are still people trying to make Miami look like a Palace from some stupid romance novel. I know they are somewhat subtle features, but they really bastardize a modernist tropical urban tower. See Oasis on the bay as well. I hope this is not a trend for North Bay Village, it could be disastrous if it continues. Isn't there any way to forward this kind of thinking or these thoughts to those on the NBV design review board?

The site however is 'the wall' that I think is interesting because the south facing units have such an incredible view of downtown, the cruise ships and the entire beach, what I call the neclace of light ringing the nighttime bay views. It will be beautiful to watch the city continually rise and become illuminated over the next 10-20 years. So Kobi Karp new projects, that look like nice buildings, Aqua Vista, Lexi on the Bay, all of the sites on the North side of the causeway will have their views partially blocked by the south wall. The view North is obviously beautiful as well, but not as much for an architecture lover.

Dave, Good catch on the Canyon Ranch West DRB application:

"-Canyon Ranch's quest to remake North Beach in its image continues. They are proposing a 5-story "mixed-use, residential/retail/convention center development" on the block including 6900-6924 Collins Ave, 201-239 69th Street, and 6901-6925 Harding Ave." [former Denny's and parking lot]

Does anyone know if Agenda Item detail is available on line, or if some one could obtain a copy of the application or city analysis thereof?

They also acquired the Golden Sands Hotel on north side of 69th St; I don't think its renderings have made it to this forum either.

Few developers have the ability to play such an important role in the improvement of an area. It's probably more good news for North Beach.

I learned today that this Canyon Ranch application which was to be heard today has been continued to the November 7 DRB meeting as it must first go before the Planning Board for Conditional Use approval.

Does anyone have a rendering of this 5-story retail/ residential/ convention center project to be located at the 69th St. Denny's?

Is the Denny's architecture considered MiMo, such that its demolition may not receive approval? North Beach and other nearby communities are trying to preserve this unique style.

http://img225.imageshack.us/img225/5226/97687202006atlantikrenderingni5.jpg (http://imageshack.us)

Found a rendering of Altlantik Condominiums at 8000 West Avenue in North Bay Village. It looks quite promising and again will seem to rise out of the bay as it is the last site at the end of the horseshoe. The way the towers are offset is nice for everyone and their views, and the units in floors 16-21 will have a cool view of the rooftop pools at Blue Bay, Space 01, Bay Treasure, and Sunset bay. Directly across the waterway at the other tip of the horseshoe is a 2 story complex which I have heard refuses to sell to a developer, so this building won't have its beach view blocked, of course that is always subject to change.

Hey Dave,
Do you know who the developer of Grandview West is, and or the architect, or where you found those renderings? I wanted to see if I can find out anything more about it.

Thanks

Hey Dave,
Do you know who the developer of Grandview West is, and or the architect, or where you found those renderings? I wanted to see if I can find out anything more about it.

Thanks

I found it on a graphics/rendering companies website. They list the architect as Kobi Karp and the developer as "Grandview Plaza Development"

(near the bottom of the page)
http://www.2dimes.com/on_boards/index.html

Also, if you were wondering where Aqua Vista is going to go, 1755 Kennedy Causeway was purchased by "Aqua Vista LLC" in April so I guess thats the spot. Its where Space02 was proposed originally.

Thanks Dave! But now you have created a monster. Do you know the site for American Prime, or Lexi on the bay? I think that Kennedy Causeway is going to be a strip of 20 story towers, like the Biscayne wall's little brother, I love it. I will say however that the garage pedestals on both the Grandview and Aqua Vista are pretty grim, should someone get in touch with the NBV approval board and remind them what liner units are before its too late? Most of these buildings look anywhere between good and really good, some beautiful, it would be awful to drive through a cavern of bad parking pedestals!!!! Alert NBV PLANNING Board!!

Even if they put a threee inch tall strip of glass into those negative spaces in the parking pedestals it would reiterate the balcony glass and bring some continuity of color and a shift of materials from all concrete all the way down to the street. It would also be nice to break up the 'light absorbing' mass of concrete with some 'light reflecting' glass.

The $30 million, 43 unit, Privata Town Homes development is starting construction according to GlobeSt (http://www.globest.com/news/738_738/miami/149412-1.html).
Developer Begins Construction of 43-Unit Project
By Natalie Keith

MIAMI BEACH-Fort Lauderdale-based developer Akron Development Corp. has started construction for Privata Town Homes, a $30-million, 43-unit townhome project in Normandy Shores.

“Demolition is complete and the former buildings are cleared,” says Jason Jones, vice president/project manager with Normandy Shores LLC, a subsidiary of the developer. “Construction crews are mobilized to start the pile and site work. Immediately following, the foundation will be poured and then vertical development will begin.”

The project is located at 25-135 North Shore Dr. Privata Town Homes will be a gated community consisting of seven, four-story buildings. Floor plans will range in size from 3,086 sf for a two-bedroom, two- and-a-half bath unit to 3,642 sf for a four-bedroom, four-and-a-half bath unit with two balconies and a rooftop terrace. Preconstruction prices range from $800,000s to more than $1.5 million. The architect on the project is Miami Beach-based Beilinson & Gomez Architects P.A. and the interior designer is Fort Lauderdale-based Interiors by Steven G.

Among unit features will be floor-to-ceiling hurricane impact-resistant glass windows, two-car garages, private elevators and private balconies. Waterfront units will have private docks with water and electric hookups. Complex amenities include a pool with cabanas, tennis and basketball courts, bike paths and walking trails.

http://miamirealestatetrends.com/Images/StarterImages/Images3/PrivataMain.gif

http://www.hansenhomesaventura.com/blogmiamirealestate/archives/Privata%20Townhomes.jpg

http://img369.imageshack.us/img369/3689/img1968th5.jpg (http://imageshack.us)


NICE...BUT HOW CAN YOU LIVE IN MIAMI WITHOUT A BALCONY? OPENING YOUR WINDOWS DOES NOT A BALCONY MAKE.

Mid Beach news:
http://www.miamitodaynews.com/news/061012/fyi.shtml

EDEN ROCKS: Ground was broken Tuesday for the new tower at the Eden Roc resort, beginning construction of 283 ocean-view guest rooms and 20 bungalow suites that will bring total rooms to more than 650 when the $110 million renovation is completed in 2008, said Suan Lightbourne, sales and marketing director. "This hotel is already a legendary property, so this will make it a top destination and resort," he said. The event, he said, was to be "high-tech and interactive; not your father's groundbreaking."

http://img388.imageshack.us/img388/5423/360vl1.jpg (http://imageshack.us)

It is really too bad about those huge honking decorative (I use the term loosely) things atop 360. It is goodlooking except for that. Do even architects not realize that if something is well designed, it doesn't require decoration??

http://img211.imageshack.us/img211/4401/bayviewloftsce7.jpg (http://imageshack.us)

I have heard that a new building will be going in on the left side of the blue and white building does anyone know anything about it. Does anyone know if there is a five story building cap in that neighborhood? That would explain why Bayview lofts stopped at five, as well as Baylights just down the road, is nearly topped off at five. There are a lot of units for sale in that blue and white building, presumably before they lose their views to new construction.

Diffenent section of North Beach, but I ran across this rendering on the Revuelta Vega Leon site. Its for a building called 'Regatta II' (Regatta I is a Kobi Karp building that just went up at 6580 Indian Creek):

http://www.rvlarch.com/images/bldgs/Regatta.jpg

Topped out Lexi (from Kobi Karp site):
http://www.kobikarp.com/images/lexinew003.jpg

http://www.kobikarp.com/images/lexinew002.jpg

Also on Revuelta's new website:

New fourth building at Canyon Ranch:
http://www.rvlarch.com/images/bldgs/prive.jpg

Monte Carlo oceanfront rentals in North Beach:
http://www.rvlarch.com/images/bldgs/Monte%20Carlo.jpg

http://img211.imageshack.us/img211/4401/bayviewloftsce7.jpg (http://imageshack.us)

I have heard that a new building will be going in on the left side of the blue and white building does anyone know anything about it. Does anyone know if there is a five story building cap in that neighborhood? That would explain why Bayview lofts stopped at five, as well as Baylights just down the road, is nearly topped off at five. There are a lot of units for sale in that blue and white building, presumably before they lose their views to new construction.

Nobe Bay and Bel Aire on The Bay and Regatta 2 are going up to the right and left of these buildings. They are taller than 5 stories.

Really?Is regatta 2 already U/C?

That new green and white building is not regatta, it is Bayview Lofts. The blue building is 2016 Bay drive, and a 2 story building that buts up against 71st st is next to it, being torn daown and I don't know what is being built. That is the bay at Kennedy Causeway entrance.

So does anyone know about building heights in that area of Normandy Isle? Where Bayview Lofts and Baylights are? Not over on Indian Creek, I realize that Bel Aire Bay and Nobe Bay are around 18 stories.

as a post script. Regatta 2 will be so cool if it happens, Revuelta gives us a cutout to see right through the building.

That new green and white building is not regatta, it is Bayview Lofts. The blue building is 2016 Bay drive, and a 2 story building that buts up against 71st st is next to it, being torn daown and I don't know what is being built. That is the bay at Kennedy Causeway entrance.

Doah.... :bash: My mistake. Kobi's designs are so similar!

So does anyone know about building height limits in that area of Normandy Isle. Does all the silence mean nobody knows, or nobody cares?

Maybe both??

Well, I dont know but would assume that it is as high as that Kobi Karp building. Knowing how developers think, and knowing Kobi design, I would make an educated guess that they pushed for the max allowed.

So does anyone know about building height limits in that area of Normandy Isle. Does all the silence mean nobody knows, or nobody cares?

A battle brewing in the 41st Street/MidBeach area:

rendering from http://savemid-beachsavemiamibeach.blogspot.com/
http://bp2.blogger.com/_oT_R3ALadNg/RZSGeBmUauI/AAAAAAAAAAM/MaWxfLNqRbA/s400/night1.jpg

http://www.miami.com/mld/miamiherald/news/local/states/florida/counties/miami-dade/cities_neighborhoods/beaches/16523635.htm

MIAMI BEACH
Residents question midrise's scale

A controversial mid-Beach condo project has some residents accusing the developer of perpetrating what one of them calls `uglitude.'
BY ELINOR J. BRECHER
ebrecher@MiamiHerald.com

The developers planning a seven-story midrise on 42nd Street between Pinetree Drive and Sheridan Avenue call their project Naya.

Some neighbors have another name for it: the Monstrosity.

Since November, a coalition of residents has been fighting Cabi Development's project at City Hall on a blog called Save Mid-Beach Save Miami Beach and on their lawns, where blue yard signs proclaim, ``Say No to 42nd St. condo.''

They're complaining about the building's scale, its blocky design, the traffic they fear it will generate and the privacy they're sure it will invade (as upper-floor occupants will be able to peer into fenced back yards).

''Miami Beach has overdeveloped so much that we have to draw the line somewhere,'' said Nick Spill, a private investigator who lives in the 4200 block of Royal Palm Avenue. Spill said he is not necessarily anti-development but, ``putting a huge building in will change the entire neighborhood.''

Cabi, the U.S. subsidiary of Mexican mega-developer GISCA, bought the 40,000-square-foot site for $16.5 million in April, encompassing the HBNS Bank building and a parking lot.

The company's Miami-Dade projects include the residential Parc at Turnberry Isle, the commercial Country Club Center in Aventura, and downtown Miami's Everglades on the Bay, under construction.

On the Naya drawing board: 42 condo and town house units and a 138-space garage with driveways on Sheridan and Pinetree.

The surrounding Orchard Park neighborhood is single-family homes and garden apartments, mainly Art Deco and Mediterranean.

Naya project manager Victorina Jimenez said that pending approval from Miami Beach's Planning Department and Design Review Board ''in the next three or four months,'' construction should begin by early fall.

Mindful of the opposition -- voiced loudly at a Jan. 18 neighborhood meeting -- she said, ''we are constantly redesigning the building,'' concentrating on its ``massiveness.''

She disputed residents' claims that Naya would cause gridlock at a notoriously bottle-necked intersection. A company traffic study showed ''no significant impact,'' she said.

Cabi will submit ''a completely revised'' design to the Planning Department next week, said Jimenez.

Some neighbors prefer the plan ''over any other that has a right to be built on the site,'' she said.

``There are one or two that have supported it.''

Many more don't.

Among the most vocal: lawyer/businessman Henry Lowenstein, who's been living in the 600 block of 46th Street for a quarter-century and has seen dramatic growth, good and bad.

''I like the change but you've got to be smart about it,'' said Lowenstein, 48, who calls Orchard Park ``old Beach. . . . We're about to lose that to this type of development.''

It's not the first time that neighbors have battled developers in the area.

Tower 41, a high-rise on the northeast corner of 41st Street and Pinetree Drive, sparked a fierce zoning battle in the 1960s.

Mark Derr, 57, an author who lives in the 4200 block of Sheridan and maintains the residents' blog, calls Tower 41 ''the mother of all monstrosities,'' setting a precedent for Naya: ``a blob of uglitude.''

One problem, said Miami Beach Commissioner Saul Gross, is that there's no ''transitional zoning'' buffering 41st Street's commercial corridor and the residences on 42nd Street.

At its Jan. 13 meeting, the commission passed an ordinance that Gross introduced requiring developments over 50,000 square feet in commercial zoning districts to get a conditional-use permit from Planning before seeking Design Review Board approval.

Jorge Gomez, planning board director, said that while Cabi has not maxed out its development rights, having ``knocked off 8,000 square feet [by] shaving away at it . . . we think there's still some way to go, but maybe not as much as the community wants.''

Neighbors found out about Naya last fall when Cabi presented renderings to the Design Review Board. That made Tobi Ash, of the 4200 block of Sheridan, ``feel we were railroaded into it.''

Ash, a member of the Satmar Hasidic community, thinks Naya clashes with Orchard Park's ''quirky charm.'' And while she's ''not adverse to new neighbors, this has turned on the spigot for development,'' which an aging infrastructure can't support.

Ash, 41, has lived in the neighborhood since childhood and worries about the elderly people and Orthodox families with pushing strollers depend on the Sheridan and Pinetree sidewalks.

She favors moving the garage entrance to 42nd St., making it ``safer for everyone.''

Progress photo of 360 from December with Eloquence on the Bay & Cielo under construction in the background:

http://www.360condos.com/images/photos/pic_02.jpg

http://img230.imageshack.us/img230/6973/lexdo6.jpg (http://imageshack.us)

So this building was topped off in the beginning of Jan. And is now getting painted at the beginning of March they are up to five floors painted now, but you can see inside all the units and thre are walls missing. It will be delivered designr ready, no floors not painted. But they are advertising Occupancy July 07?? Is that possible or will it be more like occupancy November/December 07!!!

^^
The Lexi.
July if feasible. Walls, glass, paint can be done quickly if enough people are put to the task.

Construction pics from Kobi karp showing Eloquence (and Cielo in the background):

http://www.kobikarp.com/images/eloquence01.jpg

http://www.kobikarp.com/images/eloquence02.jpg

http://www.kobikarp.com/images/eloquence03.jpg

http://img69.imageshack.us/img69/1201/canyonranchen0.jpg (http://imageshack.us)

http://img339.imageshack.us/img339/7066/greensq5.jpg (http://imageshack.us)


Canyon ranch looking good, and 6000 looks pretty sweet as well. Regatta2
is launched, I went to the sales center in regatta. NICE unit, then went to the sixth floor, nice views. The 2 buildings together has a fantastic presence for North beach

http://img145.imageshack.us/img145/4291/canyonranchlivingmiamibhu9.jpg

NoBe Bay getting started (from Kobi Karp site):

http://www.kobikarp.com/images/Deauvilleonthe%20Bay.jpg

http://www.kobikarp.com/images/nobe01.jpg

http://www.kobikarp.com/images/nobe02.jpg

http://www.kobikarp.com/images/nobe04.jpg

Got all the piles driven...looks like they are ready to start going vertical...

A new hotel for Bay Harbor Islands:

http://southflorida.bizjournals.com/southflorida/stories/2007/03/26/daily35.html?surround=lfn

Aloft planned for Bay Harbor Islands
South Florida Business Journal - 1:17 PM EDT Thursday, March 29, 2007

A proposed hotel in Bay Harbor Islands may be among the first under a new brand from Starwood Hotels & Resorts Worldwide.

The hotel said a groundbreaking is expected later this year at 1177 Kane Concourse for a 135-room hotel with office and retail space, restaurants and residential units.


Starwood (NYSE: HOT) is a worldwide hospitality chain that includes the St. Regis, Sheraton and Westin brands. Its new Aloft brand was introduced in 2005 as moderately priced, select-service hotels. As many as 500 locations are planned by 2012.

"Aloft is infused with the DNA of W (Starwood's modern luxury brand) to create a new destination sensation, conceived in response to a mega-mundane marketplace," said Ross Klein, president of Starwood Luxury Brand Group and Aloft Hotels. "Aloft brings style and atmosphere to a segment of the industry that has been anything but fashionable, offering guests a fun way to play and stay."

The developer is Miami-based Martin W. Taplin & Associates, the real estate investment and development firm that redeveloped the oceanfront Sagamore Hotel on South Beach in 2002. The company is affiliated with Harbour Realty Advisors, an investment firm that owns and manages a large portfolio of rental apartments in Florida and Connecticut.

http://img79.imageshack.us/img79/4698/canyonzg8.jpg (http://imageshack.us)

Does anyone know what the holes are for in the floor and ceiling of all of these balconies?? First I thought it was for trash chutes but then I thought maybe it would be covered over with glass so there would be a straight visual shot down to the street from each balcony, mirroring the cutouts in the Carillon Building, can anyone help to shed some light on this????

I have no idea what those holes are for but I doubt they could just leave them there like that. I'm sure it would be against every building safety law there is to just have gaping holes in the floor with a 200 foot drop. I wonder if they are planning on running columns (maybe even glass ones, that would be cool) down through the holes?

Construction pics of Baylights (1910 Bay Dr in the Normandy area):

from Kobi Karp site
http://www.kobikarp.com/images/baylightsnew01.jpg

http://www.kobikarp.com/images/baylightsnew02.jpg

http://img79.imageshack.us/img79/4698/canyonzg8.jpg (http://imageshack.us)

Does anyone know what the holes are for in the floor and ceiling of all of these balconies?? First I thought it was for trash chutes but then I thought maybe it would be covered over with glass so there would be a straight visual shot down to the street from each balcony, mirroring the cutouts in the Carillon Building, can anyone help to shed some light on this????

Those holes are "WaCoS". As you know Canyon Ranch focuses on healthy living in a spa environment. http://www.canyonranch.com/living/miami-home.aspx Amenities include restaurants serving healthy food with only the finest, locally-grown organic products. To facilitate fast delivery of fresh produce, many of the fruits and vegetables will be grown on-site. Instead of wasting landscaped areas with high-maintenance, non-native plants whose only function is decoration, the developers are planting mini-farms, picture rows of tomato, spinach, and free-range chickens.

Now to the holes ... to help fertilize the organic gardens, the "WaCoS" or Waste Collection Sites, enable residents to use their balcony holes as modern outhouses. The organic material travels down each hole until it is collected below, and promptly used to enrich the soil at the mini-farm.

The City of Miami Beach has subsidized the cost of the WaCoS and depending on the success of this sustainable building pilot project, may require the retro-fitting of all Beach condos.

My advise to future Canyon Ranch residents ... keep looking up.

You gotta be kidding me. I was going to suggest that the holes were a modern take on an art deco theme (see picture below)...

http://www.fileden.com/files/2006/6/25/88959/DSCN3722.JPG

lol, that has to be a joke. do they put that in the brochure for my million dollar condo? Hate to be the guy on the bottom floor.

April Fools...four days late.

Miami Beach press release on upcoming community workshop:

http://www.miamibeachfl.gov/newcity/press/press07/nb_town_center.pdf

Should the Town Center include bigs? let your opinions be known. Is the current height limit near 71 St. and Collins 17 stories?

The 5-story Lofts at Biarritz (1966 Biarritz Dr) goes before the Design Review Board on May 1st.

http://www.urbanresource.com/images/dev/gallery/148/front-persp.jpg

Interesting reading:
The North Beach Town Center Plan
http://www.miamibeachfl.gov/newcity/press/press07/Town%20Center%20Plan%202007%20final.pdf

That was great Dave! Thanks. it gives me so much hope as the rest of the beach hurries toward revitalization. Canyon ranch, Belaire Ocean and Bay, Regatta 1 and 2, Nobe Bay, Privata, and the other one that starts with an A , , NOBE modern and many many other small projects Like Biarritz Lofts all within walking distance, this area will become as beautiful as any on the beach with some careful planning. I just CAN"T WAIT 5 YEARS!!

Construction updates on some North Beach area projects from the Kobi Karp site (don't you wish every architect kept progress pics of all their projects on their websites??):

Nobe Bay getting above ground:
http://www.kobikarp.com/images/nobenew03.jpg

Lexi getting a paint job:
http://www.kobikarp.com/images/lexinewest02.jpg

Eloquence on the Bay & Cielo:
http://www.kobikarp.com/images/eloquencenewer01.jpg

Baylights topped off:
http://www.kobikarp.com/images/baylightsnewer01.jpg

The Beach house hotel has closed this week for demolition and construction of the Richard Meier project. In addition, the Sheraton Bal Harbour will be closed at the end of June to make way for the St. Regis.

http://buyit.miami.com/findit/announcements/garage_sales/O813567a.htm?query=beach%20house#

HOTEL DEMOLITION SALE

THE BEACH HOUSE HOTEL IS COMING DOWN AND ITS ENTIRE CONTENTS ARE AVAILABLE FOR SALE. COMPLETE BEDROOM PACKAGES $400, KITCHEN, LAUNDRY, RESTAURANT AND POOL FURNITURE, PLUS MORE. DAILY SALE UNTIL SOLD OUT. WWW.ROSE-GRP.COM. 954-591-4585

Have they stared actual demolition of the beachhouse yet?

Canyon Ranch:
http://farm2.static.flickr.com/1314/677731677_727db01916_b.jpg

http://farm2.static.flickr.com/1137/678761122_72522957d2_b.jpg

View from North Miami Beach (through a very dirty window):
http://farm2.static.flickr.com/1108/678761168_26a415e7c9_b.jpg

Paul 305:) , My friend,
Great updates on the " Canyon Ranch Living " towers:banana: ,
This tower and the " Continnum 2 " are the last Two grandfathered in Towers above 22 floors LAW:bash: of miami beach city limits.
That's it^^ , No more tall tower construction cranes over 300 feet on Miami Beach anymore after these two Tall towers.:nuts: :ohno: :nuts:

in 2008, There will be a very few tower construction cranes left in the City limits of MIAMI BEACH,
two will be at the new " W " hotel, which the height ther only reaches 250 feet !!!

Chuck you're breaking my heart!

Nice shots Paul 305! They got the much needed 2nd coat of titanium white on the short tower grid and now it really POPs. But we still don't know what those circle cutouts in the balconies are for??

What floor is that skyline shot from??

Chuck there will still be.

Ritz Carlton at 29th st 17 and 20 stories

Cipriani/Saxony 18 stories at 32nd st

Carribean rising

Nobe Bay 16

Bel Aire Bay 18

Beach House 12

They're not supertalls, but in my book anything over 12, well, maybe 15, stories has a big impact on your experience of the city and the skyline

Oh, the holes are to separate the balconies. Otherwise they would be continuous and you could just hop a rail to get to your neighbor's balcony.

A City Committee is consider this on July 10th. Does anyone have any drawings they could post?

I'm sure this will be another awesome Canyon Ranch project right on the Beach on 69th Street. Is there anyone other developer that has 3 or 4 hi-rise buildings all together in one stretch of beach?

REQUESTS FOR VARIANCES
HPB File No. 2527, 6901 Collins Avenue – Golden Sands Hotel. The
applicant,, WSG 34th Street, L.L.C., is requesting a Variance, pursuant to
Section 118-564(c) of the City Code, from Sections 118-532(f) and 118-
564(f)(11) in order to request and obtain an Extension of Time to obtain a
Building Permit for a previously issues Certificate of Appropriateness for the
partial demolition, restoration and renovation of an existing 3-story hotel, and the
construction of a new 18-story multifamily building. The applicant has already
received the maximum time permitted of thirty (30) months in order to obtain a
Full Building Permit for the project. The previously approved project is nonconforming
with regards to the City’s parking requirements.

This is from the Herald. Somehow I can't picture David Caruso owning a Knotted Chair.

_______________

Moooi, 3438 N. Miami Ave., Miami, 305-573-4041, www.moooi.nl. If there was any question about Miami's status as a design destination, the debate is settled -- Moooi (''extra beautiful'' in Dutch) is in our midst. Midtown, to be exact, across the street from way mainstream West Elm. At the primarily black and cream space, dramatic lighting fixtures, curvaceous armoires and ornate chandeliers cost from $500 to $8,000. All have a sense of fun with a few helpings of European sophistication thrown in.

This is the first U.S. showroom for the Netherlands' Marcel Wanders, Elle Decor's 2006 Designer of the Year, who is currently working on David Caruso's pad at the soon-to-open Canyon Ranch condo in Miami Beach. Known for his iconic Knotted Chair, which he produced for the Droog collective in 1996, Wanders was also the creative force behind the fantasy-like Mondrian South Beach hotel residences

http://www.globest.com/news/976_976/miami/163373-1.html

http://www.globest.com/newspics/mia_stregisbalharbour.jpg

UPDATE Last updated: August 21, 2007 03:01pm

Fall Groundbreaking Set for St. Regis Condo Hotel
By Natalie Keith

BAL HARBOUR, FL-The Related Group and Starwood Resorts & Hotels are planning to break ground by the end of the year on the St. Regis Resort & Residences, Bal Harbour. The project, on nine acres at 9701 Collins Ave. at the site of the Sheraton Bal Harbour, includes 268 condominiums, 36 condo-hotel suites, 183 hotel rooms and 24 St. Regis Club Residences in three all-glass towers. The project is expected to be completed in 2010.

Related Cervera Realty Services is the exclusive sales agent for the project. The sales gallery was recently relocated from inside the Sheraton to 1133 Kane Concourse in Bay Harbor Islands. The Sheraton will be imploded in September and construction will begin shortly after that, Related Cervera Realty Services CEO Alicia Cervera tells GlobeSt.com.

Cervera says that more than 30% of the for-sale units have been sold. The project has an estimated sell-out of over $1 billion. For-sale units will have 10-foot ceilings, pre-wiring for smart technology and 11-foot-wide all-glass balconies. The project will include a 15,000-sf spa and fitness center.
When the project was announced more than two years ago, plans called for building 340 condominium units, 250 hotel-condo units and 50 fractional-ownership hotel-condo rooms. Although the size of the project has not changed, the mix of units has. “It’s a signature site for Starwood,” Cervera says. “They wanted to have more control over the hotel units.”

A new 7-story office/retail center proposed for 71st Street corridor at 7135 Harding Ave:

http://www.miamibeachfl.gov/newcity/drb/agenda_design.pdf

Eloquence on the Bay topped off (from Kobi Karp site):
http://www.kobikarp.com/images/eloquencenewest02.jpg

http://www.kobikarp.com/images/eloquencenewest01.jpg

That section of North Bay Village looks like it would have awesome views from all buildings in all directions. But is there any retail or shops in that area? it just doesn't seem as pedestrian friendly as the Normandy Village or North Beach section. Is Cielo near Eloquence on the Bay?

That section of North Bay Village looks like it would have awesome views from all buildings in all directions. But is there any retail or shops in that area? it just doesn't seem as pedestrian friendly as the Normandy Village or North Beach section. Is Cielo near Eloquence on the Bay?

That is Cielo right behind Eloquence in those pictures. As far as I know there isn't much retail at all in NBV except for a couple of restaurants.

I can't believe they got Eloquence up so fast. It was announced 2 or 3 years after Cielo after the market was already cooling. I can't imagine much is sold in there...any info...anyone??

Have some construction photos of Privata Miami Beach (the new town homes in Normandy Shores) to share...construction is going vertical now with a schedule for completion Spring of next year! Pretty exciting as it coincides with the improvements that the city is doing in Normandy Shores. North Shore Drive and all of Normandy Shores is going to be paradise...

Click on links to see photos...

http://img266.imageshack.us/img266/7066/8607nwzz4.jpg
(8.6.07 NW View Privata)

http://img515.imageshack.us/my.php?image=8607nele6.jpg
(8.6.07 NE View)

http://img515.imageshack.us/img515/7136/8607swwz5.jpg
(8.6.07 SW View)

http://img411.imageshack.us/img411/663/9407bldg1jl9.jpg
(Building1 View from site level)

http://img515.imageshack.us/img515/3636/9407bldg1beamformta5.jpg
(Build1 View from site level 2)

http://img515.imageshack.us/img515/9073/9407bldg1intrk9.jpg
(Build 1 Interior)

I have some more aerials to coming in this week. Will post then.

Update pic from Kobi Karp site of Nobe Bay:
http://www.kobikarp.com/images/nobesept01.jpg

http://www.kobikarp.com/images/nobesept02.jpg

This is to go next door to the Nobe Bay building from the previous post:

http://cggazette.com/absolutenm/templates/indextemp.aspx?articleid=8&zoneid=1

http://cggazette.com/absolutenm/articlefiles/3234-Regatta-2-marina-view-300-DPI.jpg

Regatta 2 enters contract phase



G&D Developers and The Weintraub Companies have announced that Regatta 2, a waterfront condominium in Miami Beach is now in the contract phase. Condo docs have been finalized and buyers can now secure their purchases.

Another milestone, demolition of the existing structure on the site has begun at 6644 Indian Creek Dr. next door to the Ronald W. Shane Watersports Center. “In a market where projects are getting scratched, we are converting our reservations into actual purchases,” said Fernando Levy Hara, principal of G&D. “We as developers along with our buyers have faith in the real estate market and the forward progression is a testament to that.”

The 115-unit Regatta 2 is hailed for its ultra contemporary design fused with historic MiMo architecture. Regatta 2 will have, as part of its structure, the façade of the legendary Queen Elizabeth Apartment Hotel, being integrated it as a recreation room featuring a gourmet kitchen, lounge and entertainment area. And because Regatta 2 boasts its own private marina, a feature unique to Miami Beach condos, residents will be able to walk right out onto the dock where their boat is moored.

“Miami Beach is singular in character and allure the world over,” added Catherine Noyes-Rodstein, director of sales. “Regatta 2 personifies all that is so loved – the water, the beaches, the architecture. There’s a lifestyle of dining, shopping and luxury living that is beyond compare and that is why there has been so much interest.”

Prices for the residences range from $270,000 to $1.56 million. Studios, one- to three-bedroom residences and penthouses with private rooftop terraces range from 651 to 2,267 square feet. In addition to individual units, the developers are selling eight rooftop terraces, priced from $50,000; 18 boat slips, priced from $125,000; and additional parking spaces at $25,000 each. Completion is expected in March 2010.

The developers were recently honored by the North Beach Development Corporation with the 2007 Henri Levy Distinguished Leadership Award for the positive impact they have made on the community. Regatta, the predecessor to Regatta 2, was awarded the North Beach Development Corporation’s “Best Project 2006” and the City of Miami’s “Beautification Award 2006.” The developers are also sponsoring the Miami Beach Architecture Cruise, which showcases the spectacular architecture and fascinating history of Miami Beach, and are releasing, in conjunction with NBDC, NoBe, a colorful coffee table book illustrating the history of the area. The book will be distributed to a select group of buyers, project supporters and a who’s who in the community.

The sales lounge is located in suite 309 at 6580 Indian Creek Drive, at Regatta. Miami Beach-based CNR Properties is the exclusive sales agent for Regatta 2. For more information, call (305) 864-7899 or visit www.regatta2.com.

^^ Nice design! Almost "retro" in a cool way. And in addition to looking good, a "breezeway" like that serves a useful purpose in helping a structure better withstand storms (or at least I think it does...I'm no structural engineer!) :lol:

It must help with hurricanes. You can see the sight in this photo...as well as Nobe Bay rising.

http://img225.imageshack.us/img225/3057/nbvlg8.jpg (http://imageshack.us)

Has construction on Beach house bal harbor started yet??I sure hope so cause its an awesome project!!

No but the site is entirely cleared- just recently.

It must help with hurricanes. You can see the sight in this photo...as well as Nobe Bay rising.

http://img225.imageshack.us/img225/3057/nbvlg8.jpg (http://imageshack.us)

Wow Arch you always post great pics, but this one is stunning to me. This picture illustrates better than words why I want a boat very badly!

Should I name her the "Biscayne lady" lol. Im sure someone already snatched that one (even though Im joking).

Has beach house bal harbor or st. regis bal harbor started construction yet??

Nobe Bay getting more vertical from Kobi Karp site:
http://www.kobikarp.com/images/nobeoct03.jpg

demolition work for Regatta2 getting started at the top left
http://www.kobikarp.com/images/nobeoct01.jpg

has beach house bal harbor started yet?

topped off Eloquence and Cielo from Kobi Karp site:
http://www.kobikarp.com/images/eloquencenov01.jpg

Have beach house or regatta started yet?

No.

BH they saaid late 2008, but they just built a new hot little sales center and based on beachfront and Meier I would bet it will definitely happen.

Regatta 2 is still clearing the site.

thanks for the info. I'm really excited for regatta 2! I hope it gets off the ground.

On 360:

http://southflorida.bizjournals.com/southflorida/stories/2008/01/21/story2.html

Friday, January 18, 2008

Lennar offers units for sale at bulk price

South Florida Business Journal - by Oscar Pedro Musibay

Lennar Corp.'s 360 Condominium in North Bay Village is seeking a vulture fund to purchase about 50 units whose buyers defaulted on contracts.

The developer has closed on all but 12 percent of the 414 units at its first vertical project, said Craig Studnicky, principal of International Sales Group, which is managing project sales.

Lennar will continue to work to sell units in the 15-story towers one at a time, but would prefer to sell them to a bulk buyer, he said.

Studnicky added that it's a $20 million deal - about $400,000 a door - and he's alerting his network of brokers. So far, a European and an American buying group are interested, he noted.

"They are buying for 30 percent less than it costs to replace the units," Studnicky said. "If they sell for what they sold for at preconstruction plus the deposits, Lennar ends up OK. It still makes a nice profit."

But the sales are still eating into initially expected profits, according to Studnicky, who added: "Whatever profits somebody wrote down on a piece of paper is just profits on a piece of paper."

Lennar (NYSE: LEN) is "liquidating," trying to increase cash flow, said Peter Zalewski, a principal of Condo Vultures Realty. He pointed to the Miami-based home builder's recent joint venture with Morgan Stanley as evidence of its push for better cash flow.

Lennar created a joint venture with the real estate arm of Morgan Stanley & Co. (NYSE: MS) on Nov. 30, forming a new land investment firm, MSR Holding Co. LLC. Lennar sold 11,000 home sites in 32 communities nationwide to MSR for about $525 million. Lennar retains a 20 percent interest in MSR and the option to buy back the sites in the future.

At the time of the deal, Lennar President and CEO Stuart Miller said partnering with Morgan Stanley would "provide a footprint to capitalize on inefficiencies in today's residential real estate market. This transaction provides us with increased liquidity and flexibility at an opportune time."

Lennar also completed a couple of deals to unload nearly 20,000 home sites nationwide, including more than 1,200 in Central Florida.

Tampa-based Metro Development Group LLC, which has an office in Orlando, paid Lennar an undisclosed sum for 8,300 home sites in seven Florida counties, including more than 1,200 lots in Brevard and Polk counties. Metro Development was also considering land from Lennar in Volusia and Osceola counties.

Industry experts see the move as a way for Lennar to back away from developing land and focus on what it does best: build homes.

Lennar has suffered considerably since the housing market swung downward.

The company grew from a $545.1 million profit in 2002 to a $1.4 billion profit in 2005. But by 2006, its profit was cut in half - to just under $600 million.

And, in the first three quarters of 2007, Lennar lost $689.4 million, compared to a $789.5 million profit for the same period in 2006. In addition, Lennar's stock tumbled from a 52-week high of $56.54 on Feb. 2 to a 52-week low of $13.02 on Jan. 9.

Lennar's second vertical project is the 296-unit Colonnade near Dadeland Mall. Studnicky has closed about 30 units since the process began six weeks ago. He said he expects half the walk-away rate because, unlike 360, Colonnade was not populated by investors and was sold mostly to local empty-nesters and other users.

has beach house bal harbor started yet?

Well this really hurts, this was going to be a really gorgeous project.

Surfside-based Beach House Property sought bankruptcy protection. The developer is involved in Beach House Designed by Richard Meier at 9449 Collins Ave., a project that will feature 101 units in Surfside with prices starting at $1.5 million. The 12-floor glass building was to break ground last year on the property of the Beach House Hotel.

Beach House's 20 largest unsecured creditors are owed $4.6 million. The company's attorney, Robert Furr, didn't immediately return a call seeking comment after business hours.

We dont need a "Glass House" on the beach. It was a ridiculous project.

Are you kidding, that was the one project (along with Premiere Towers) that I wanted to go up. That was a work of art...

Well this really hurts, this was going to be a really gorgeous project.

Surfside-based Beach House Property sought bankruptcy protection. The developer is involved in Beach House Designed by Richard Meier at 9449 Collins Ave., a project that will feature 101 units in Surfside with prices starting at $1.5 million. The 12-floor glass building was to break ground last year on the property of the Beach House Hotel.

Beach House's 20 largest unsecured creditors are owed $4.6 million. The company's attorney, Robert Furr, didn't immediately return a call seeking comment after business hours.

If Richard Meier projects on the ocean are facing bankruptcy then there's no use putting any "happy faces" on anything.

The market situation isn't just bad---it's horrific.

This stuff does affect me. I'm not a RE agent like Roark who lives it every day but I do have partial ownership of properties in Miami Lakes and Miami Shores that probably will see a third of their value (roughly a 400,000 loss) disappear because of the reality of the situation.

Still, I'm in it for the long haul. The "boom" was a bunch of phony, nonsensical foolishness anyway. The market is simply returning to reality. I can wait.

We don't need an Art Museum either but we want it because it's beautiful.

We dont need a "Glass House" on the beach. It was a ridiculous project.

If Richard Meier projects on the ocean are facing bankruptcy then there's no use putting any "happy faces" on anything.
The market situation isn't just bad---it's horrific.
This stuff does affect me. I'm not a RE agent like Roark who lives it every day but I do have partial ownership of properties in Miami Lakes and Miami Shores that probably will see a third of their value (roughly a 400,000 loss) disappear because of the reality of the situation.
Still, I'm in it for the long haul. The "boom" was a bunch of phony, nonsensical foolishness anyway. The market is simply returning to reality. I can wait. C'mon, you should know by now that I'm not just a RE Agent!!!
Anyway, the Beach House was a project envisioned and started by Lynx Development (with ties to Rodrigo Nino). I posted back then about Beach House and the Lynx office tower next to the Bank of America building....that it was VERY unlikely that either property would be built.
My reasoning and opinion was that Prodigy was a sales/marketing company without necessary development experience.
The fact that Beach House tried for 4 years in a booming market to get off the ground and didn't has more to do with the development team than the market.

The "boom" was a bunch of phony, nonsensical foolishness anyway.

That is true in terms of how big the "boom" got, but too much actually made it out of the ground for it to be completely that. The "boom" was definitely for real.

When I call it phony and nonsensical I'm just talking about the hyperinflated prices and oversupply that resulted from greatly overestimating actual demand. The current depressed market will likely get even worse before it recovers but a "bust" cycle is really just the market finding its true value.

Anyone know the name of the condo being built around 63rd Street where Collins Avenue splits? Its right between Collins and Indian Creek, surrounded by each road. Only maybe 3-4 stories high made of glass, but with no views. Strange location and I never even see a sign.

^^ Terra Beachside Villas.

Roark, if I misstated your job title my bad. I simply meant to illustrate that even for some of us not involved in the market on a day-to-day basis the downturn is having a tangible effect...even sitting 1200 miles away in my case.

Like I said, though, nothing about the current situation surprises me in the least. It was inevitable given all the wild (borderline insane) speculation a few years ago. It's happened before and will happen again. I'm not gonna freak out about it. Life is too short for that. When/if I sell it'll be based on my own desire to cash out rather than worry endlessly about the roller-coaster boom/bust cycle that has always existed.

Roark, if I misstated your job title my bad. I simply meant to illustrate that even for some of us not involved in the market on a day-to-day basis the downturn is having a tangible effect...even sitting 1200 miles away in my case. Ah no worries! Certainly the credit markets and to a large extent over building has put a big ole damper on the US housing market. But real estate remains local, and there are definitely good places to be...buying today in Miami's CBD at 2006 or 2007 prices is not advisable. Buying today in Miami's CBD at 2004 prices will bring you a high quality of life and some nice appreciation if you are an end user.

^^ Terra Beachside Villas.

Thanks. I drove by this site again today. I can't believe how close the units are to the road.

It probably should be called "Terra Roadside Villas", as I don't even think you can see the beach from these units. There is a huge wall-like condo spanning the entire east side of Collins.

St. Regis Bal Harbour breaks ground:

http://www.globest.com/news/1108_1108/miami/168830-1.html

UPDATE Last updated: March 5, 2008 03:23pm

Dirt Moves on St. Regis Condo Hotel
By Natalie Keith

BAL HARBOUR, FL-The Related Group and Starwood Resorts & Hotels have started construction of the St. Regis Resort & Residences, Bal Harbour. The condo-hotel project will rise on the site of the former Sheraton Bal Harbour.
The project, on nine acres at 9701 Collins Ave., includes 268 condominiums, 36 condo-hotel suites, 183 hotel rooms and 24 St. Regis Club Residences in three 27-story all-glass towers on 1,000 feet of beachfront. The project is expected to be completed in 2010. Each tower will have its own private lobby entrances, security, valet and covered parking.

Related Cervera Realty Services is the exclusive sales agent for the project. The sales gallery is located at 1133 Kane Concourse in Bay Harbor Islands. The project has an estimated sell-out of over $1 billion. For-sale units will have 10-foot ceilings, pre-wiring for smart technology and 11-foot-wide all-glass balconies. The project will include a 15,000-sf spa and fitness center.

When the project was announced more than two years ago, plans called for building 340 condominium units, 250 hotel-condo units and 50 fractional-ownership hotel-condo rooms. Although the size of the project has not changed, the mix of units has.

NobeBay update from Kobi Karp site:
http://www.kobikarp.com/images/01-29-08-Nobe-Bay-aerials-c.jpg

http://www.kobikarp.com/images/01-29-08-Nobe-Bay-aerials-b.jpg

"During the fourth quarter we commenced closings at One Bal Harbour which is comprised of 185 luxury condominiums and 115 luxury hotel condominium suites. To date, we have closed 85% or 157 of the condominiums and 42% or 48 of the hotel condominium suites sold. The five star hotel operated by Regent opened on March 1st and we hope its opening will facilitate closings and stimulate new sales of any defaulted units," said Jerry Starkey, President and CEO of WCI Communities.

http://money.cnn.com/news/newsfeeds/articles/primenewswire/138357.htm

"During the fourth quarter we commenced closings at One Bal Harbour which is comprised of 185 luxury condominiums and 115 luxury hotel condominium suites. To date, we have closed 85% or 157 of the condominiums and 42% or 48 of the hotel condominium suites sold.
Wow...that is going to surprise a hell of a lot of people. 85% Closed is very nice...

Wow...that is going to surprise a hell of a lot of people. 85% Closed is very nice...

I've heard that it's not the up-scale residences that are doing bad in closings, it's the upper middle-class residences that are hurting, so that might be way it's doing so good. Atleast I hope I'm wrong lol.

http://www.miamiherald.com/news/miami_dade/beaches/story/489897.html

MIAMI BEACH
Dubai firm buys half of Fontainebleau

The Fontainebleau deal added one of the country's best-known hotels to Dubai's growing portfolio of tourist favorites in the United States and abroad.

BY DOUGLAS HANKS
dhanks@MiamiHerald.com

A Dubai firm has bought half the Fontainebleau resort for $375 million, putting Miami Beach's most iconic hotel partly into the hands of an oil-rich Middle Eastern government.

Nakheel Hotels, whose parent company is managed by the Dubai emirate, will partner with developer Jeffrey Soffer as he prepares to reopen the Fontainebleau this fall following two years of renovations at the 1,500-room complex.

The deal adds one of the country's best-known hotels to Nakheel's growing portfolio of tourist favorites in the United States and abroad.

It also could speed the Fontainebleau's expansion around the world, with Nakheel's CEO predicting another deal for a Fontainebleau in Dubai itself.

Nakheel owns the QE2 cruise ship and a stake in the Atlantis mega-resort in Nassau and the MGM casinos but gets the most attention for ambitious projects off the Dubai coast: a chain of man-made islands shaped to look like palm trees and the seven continents from the air.

Its parent company, Dubai World, helps invest the emirate's vast oil wealth and sparked controversy in 2006 when another subsidiary tried to buy a company running several U.S. ports, including Miami's.

The deal also signals a broader partnership as Soffer tries to launch a global chain of resorts based on the 1954 hotel designed by famed Miami Beach architect Morris Lapidus. Construction is under way for the Fontainebleau Las Vegas, but Soffer's team so far has not yet announced definitive plans for an overseas Fontainebleau.

In addition to a possible Fontainebleau Dubai, Nakheel CEO Joe Sita hinted at other joint ventures. ''Hopefully this is one of more we will do with them,'' he said.

The deal, which closed Wednesday morning, comes amid mounting anxiety over real estate values in South Florida and hope that its booming hotel industry will be immune from the residential meltdown.

Nakheel's investment ''says that this continues to be an attractive market for existing hotel acquisitions,'' said Guy Trusty, a commercial broker. ``It's a very slow market. But the hotels that do sell are selling for very high prices.''

Even with Nakheel disclosing its acquisition price, the financials of the deal aren't clear since the Dubai company also assumed an undisclosed amount of the Fontainebleau's debt.

AVENTURA RESORT

Sita said the deal began about a year ago when Nakheel explored buying Aventura's Fairmont resort. That's owned by Turnberry Associates, the Soffer company whose corporate umbrella includes the Fontainebleau.

As interest shifted to the Fontainebleau, Sita said Nakheel saw the resort as a way to solidify its presence in the American hospitality landscape.

''Miami is one of the key gateway markets in North America, and one in which we've actively been trying to get a foothold into for quite sometime,'' he said. Now ``we have Miami, we have New York, we have Washington, D.C., and we have Los Angeles.''

The Miami Beach deal unites two sprawling enterprises, albeit ones operating on different financial planes.

Turnberry got its start when Donald Soffer mapped out a new South Florida community in the 1960s called Aventura.

The company still owns the Aventura Mall and the Fairmont resort there, as well as commercial and residential projects throughout the country. It paid $275 million for the Fontainebleau in 2005, Soffer said, and is spending about $500 million on the renovations and the two new condo-hotel towers on the oceanfront complex.

Sultan Ahmed Bin Sulayem serves as chairman of Dubai World, one of the world's largest holding companies with a portfolio spanning 100 countries and five continents. It's a major stakeholder in Kerzner International, which owns the Atlantis.

NO PRESSURE

Soffer said he was under no pressure to refinance debt on the Fontainebleau or find a partner.

''We weren't desperate sellers. They weren't desperate buyers,'' he said.

Even so, ''in the markets we live in today, it's not a bad thing to have extra capital,'' he said.

Its parent company, Dubai World, helps invest the emirate's vast oil wealth and sparked controversy in 2006 when another subsidiary tried to buy a company running several U.S. ports, including Miami's.

Dubai World didn't "try" to buy british P&O, they bought it without any problems. Then out of the blue people didn't like the fact that american ports were owned by foreigners despite the fact that the british owned them before DW bought them... And even after that offense Nakheel continues to invest in America how about that :okay:

The proposed buidings from Kobi Karp site:
http://www.kobikarp.com/images/lexibay01.jpg

http://www.miamiherald.com/news/miami_dade/beaches/story/517995.html

NORTH BAY VILLAGE
North Bay Village commission defers decision on highrise condo

The North Bay Village Commission put off making a decision to allow a developer to build on the island that is home to Channel 7.

BY LAZARO FRAGA
lfraga@MiamiHerald.com

Some North Bay Village residents are fearful a proposed high-rise condo project will drag down area real estate values even farther, while others argue the developer would be a good neighbor and help keep taxes low.

Both sides got a hearing at Tuesday's city commission meeting, when residents received a chance to weigh in on a proposal by Isle of Dreams LLC to build two 21-story condominium towers on the village's Broadcast Key.

The Lexi On the Bay project, which will have 216 units, is opposed by Sunbeam Television Corp., which owns WSVN-Fox 7.

The station would share the key and is concerned about parking and access to its side of the small island.

At Tuesday's city commission meeting, attorneys for the developer and station presented their arguments, and then residents spent more than two hours giving their opinions.

In the end, the only consensus the commission reached was to defer a decision until September.

Some residents, like Anna Bakst, think the village isn't ready for another high-rise. ''Let him come back later to ask for a permit,'' Bakst said, referring to Isle of Dreams owner Scott Greenwald. ``Now is ridiculous.''

Bakst reminded the commission that another North Bay Village project by Greenwald, named the Lexi, is having trouble selling most of its units. ''I don't think we need another project,'' Bakst said.

Manford Cetner, who said he has been in the real estate business for more than 30 years, agreed.

''Instead of a boon, it turned out to be a boondoggle,'' he said of the Lexi.

Cetner took issue with the promises of lower tax and water bills once condo developments were finished.

''My taxes and water went up,'' Cetner said. ``Everybody's did.''

But Fane Lozman, community activist and former resident, said he considered the project a great way to clean up the small island along the Kennedy Causeway.

Lozman left when the marina where he docked his houseboat was condemned after damage done from Hurricane Wilma.

He now lives in Riviera Beach but attended the meeting.

''Broadcast Key is a garbage dump,'' Lozman said. ``They're going to clean that place up.''

Lozman called Greenwald, who owns several undeveloped properties in North Bay Village, a ''good neighbor,'' citing his willingness to let the village use his land to store debris after hurricanes. ``This man should be given a key to the city.''

Frank Rodriguez, who has lived in the village for 15 years, said he is tired of seeing the empty buildings but is not opposed to a new development on the island.

He thinks the village needs a ''signature project'' on Broadcast Key that provides residents access to the bay.

Mayor Joseph Geller agreed the village has suffered from overdevelopment in recent years, but said Lexi on the Bay, which includes some commercial and retail space, could help ``expand the village's retail offerings.''

''All the parties have to work it out,'' Geller said.

``A project like this could turn into a win for everybody.''

Well this really hurts, this was going to be a really gorgeous project.

Surfside-based Beach House Property sought bankruptcy protection. The developer is involved in Beach House Designed by Richard Meier at 9449 Collins Ave., a project that will feature 101 units in Surfside with prices starting at $1.5 million. The 12-floor glass building was to break ground last year on the property of the Beach House Hotel.

Beach House's 20 largest unsecured creditors are owed $4.6 million. The company's attorney, Robert Furr, didn't immediately return a call seeking comment after business hours.

Beach House apparently worked out a deal, because they started construction last week and are driving pilings. If I remember, it was reported that Turnberry had taken over the project.

Beach House apparently worked out a deal, because they started construction last week and are driving pilings. If I remember, it was reported that Turnberry had taken over the project.The Lynx/Prodigy people bought the Beach House from the Rubell family about 4-5 years ago. They tried to sell and build at then, but even when the market was hot, no one would lend them the money to build. This was about the same time as Lynx/Prodigy were involved with the Lynx project downtown. Also a non-starter.
They brought in a partner on Beach House (presumably to gain development credibilty) but that partner left. Then, Turnberry came in to partner up with them. Turnberry has since left.
If that project is going ahead with that same Lynx/Prodigy group behind it, then congratulations on their first development project! It's nice to see that perservearance.

Well there is definitely construction (ground work going on) and brand new printed (expensive) signage covering the chain link fence in front of the site. Haven't been seeing that much lately, except at the St. Regis Bal Harbor

Topped off at 16 stories, NobeBay from Kobi Karp site
http://www.kobikarp.com/images/80523354.JPG

http://www.kobikarp.com/images/80523352.JPG

Some info on St.Regis. Its about to get vertical with the foundation complete and all 3 towers will go up at once. Also interesting to see a new condo development going vertical in this market:

http://www.cggazette.com/index.cfm/index.cfm?dsp=news.view&nid=280

http://www.cggazette.com/upload/public/n_280_1.jpg

St. Regis Resort & Residences gets building permit

St. Regis Resort & Residences, Bal Harbour has secured its building permit from the Village of Bal Harbour, enabling Starwood Hotels & Resorts Worldwide, Inc. to proceed with vertical construction on the two million square feet of oceanfront property across from Bal Harbour Shops. The foundation permit was secured late last year, and site work has been progressing steadily. Construction of the three all-glass towers will be simultaneous, with completion scheduled for the end of 2010.

The St. Regis Resort & Residences, Bal Harbour is located on the former site of the historic Sheraton Bal Harbour. The award-winning resort and residences, being developed and managed by affiliates of Starwood Hotels & Resorts Worldwide, Inc., will be one of the largest developments of its kind in Florida.

Sergio Rivera, president and managing director, real estate development, Starwood Vacation Ownership, noted, “We are thrilled to reach yet another important milestone in one of the largest mixed use development projects in Florida. The St. Regis Resort & Residences, Bal Harbour is the preeminent address in South Florida and will redefine luxury living and personalized service.”

The sales gallery is located at 1170 Kane Concourse. Operating hours are 10 a.m. to 6 p.m., Monday through Saturday and 11 a.m. to 5 p.m. on Sunday. For more information, call (305) 993-6000 or visit stregisbalharbour.com.

nice looks like the icon vallarta towers in mexico.find it on google it should have been built in bal harbour.

Any comments on Belaire on the Ocean and Akoya? seems to be some deals in these buildings and looking for some feedback. Thanks.

http://southflorida.bizjournals.com/southflorida/stories/2008/08/11/daily25.html?surround=lfn

Wednesday, August 13, 2008 - 9:28 AM EDT

Fontainebleau announces October reopening

A Miami Beach icon is planning a soft reopening on Oct. 18.

The Fontainebleau Miami Beach announced that guests can take advantage of a special introductory rate beginning at $239 a night.

The official grand opening of the 22-acre resort will take place Nov. 14, with a Victoria's Secret fashion show broadcast on CBS.

Aventura-based Turnberry Associates announced the two-year, $150 million renovation in 2005.

In April, Dubai-based Nakheel Hotels bought a 50 percent interest in the Fontainebleau for $375 million.

The Dubai emirate manages Nakheel, the hotel group's parent company. It developed the Palm Islands in Dubai.

Fronting the Atlantic Ocean, the 1,504-room resort's most distinguishing features will include two new towers, 11 restaurants and lounges, three nightlife venues, a 40,000-square-foot spa with mineral-rich water therapies and co-ed swimming pools, and an oceanfront pool area.

The resort is noted for architect Morris Lapidus' emblematic curvilinear facade and whimsical interior elements like the front lobby’s “staircase to nowhere.”

Through the 1950s and 1960s, the Fontainebleau hosted many famous stars, including Bob Hope, Lucille Ball, Jackie Gleason, Judy Garland, Milton Berle, Jerry Lewis, Marlene Dietrich, Frank Sinatra and Debbie Reynolds.

http://southflorida.bizjournals.com/southflorida/stories/2009/03/02/daily11.html?surround=lfn

Merco Group faces another foreclosure

South Florida Business Journal - by Brian Bandell


A 16-story condominium under construction in Miami Beach has drawn the fourth foreclosure action against Miami-based Merco Group.

The foreclosure, filed Feb. 26 in Miami-Dade County Circuit Court by Regions Bank, names Indian Creek Holdings, 67th Street Holdings and Merco Group principal Homero Meruelo.

They were developing the 98-unit NoBe Bay Condo, at 6700 Indian Creek Drive, along the Intracoastal Waterway.

Construction began in 2006, but was never completed. Units were preconstruction priced from $450,000 to $1.1 million.

Indian Creek Holdings owns 59,700 square feet along the water, while 67th Street Holdings owns the parking lot on the east side of Indian Creek Drive.

In 2006, Birmingham, Ala.-based Regions Bank gave Indian Creek Holdings a $42.9 million mortgage and a $12.9 million mortgage to 67th Street Holdings. The loans included both properties as collateral.

In 2007, when the balance on 67th Street Holdings’ loan was down to $2.1 million, Regions Bank provided the developer with an additional $12.9 million.

Fort Lauderdale attorney James W. Carpenter, who represents Regions Bank in the lawsuit, did not immediately return a call seeking comment.

A call to Meruelo was not immediately returned.

Merco Group faces foreclosure lawsuits against its Terzetto at Aventura condo project and Diegon/Merco Group at Palm Beach Lakes. It also lost an unbuilt condo project in West Palm Beach to a lender.

^^Man, this "Merco Group" sounds like a real bunch of winners. Cripes. :ohno:

I wonder what will happen to the building which is topped off but not finished? I guess the bank would try to find someone to finish it, but would there be any takers in this market for a project with those prices on the western side of North Beach?

I wonder what will happen to the building which is topped off but not finished? I guess the bank would try to find someone to finish it, but would there be any takers in this market for a project with those prices on the western side of North Beach?

DAVE:), Our Best UPDATE Friend:banana:, Gosh , Do I missed your Updates,
the 16 floor unfinished tower here will be completed in the near future by another investor group from a foriegn country, I see this tower completed as rental apartments in my dreams of 2012 :cheers:!!!

Bal Harbor shops looking to expand:

http://www.miamiherald.com/2011/03/08/2104873/bal-harbour-shops-proposes-major.html

Bal Harbor shops looking to expand:

http://www.miamiherald.com/2011/03/08/2104873/bal-harbour-shops-proposes-major.html

so three new movie theatres coming?

downtown (met square)
midtown (entertainment block)
bal harbour shops

Bal Harbor shops looking to expand:

http://www.miamiherald.com/2011/03/08/2104873/bal-harbour-shops-proposes-major.html

Good to see. My family has been close friends with the Whitman's for many, many years and it's remarkable how they've maintained control over Bal Harbor shops in an industry that is heavily consolidated in a few big corporations. It's a huge part of what's made it a unique destination. I hope they get the expansion they seek.

I hope they get the expansion they seek.

i hope not. it takes away a little from south beach and downtown, which is where new retail should be going. not into highly congested bal harbour.

i hope not. it takes away a little from south beach and downtown, which is where new retail should be going. not into highly congested bal harbour.

Could possibly affect South Beach to a small degree but the kind of VERY high-end retail they're talking about wouldn't be seen downtown whether or not they got the nod.

Could possibly affect South Beach to a small degree but the kind of VERY high-end retail they're talking about wouldn't be seen downtown whether or not they got the nod.

there is a major project going through approvals at 5th and alton on the former vitri/south shore hospital site that would be affected, since they plan high end retail.

additionaly, high end retail will eventually come to downtown, in the not so distant future. it will follow the high end restaurants and hotels that are already downtown.

Could possibly affect South Beach to a small degree but the kind of VERY high-end retail they're talking about wouldn't be seen downtown whether or not they got the nod.

Agreed. Lincoln road is more focused on lifestyle brands and Downtown couldn't possible be considered for the types of shops in Bal Harbor for yeeeears.

Plus concentrating everything is on place is a bad ideal. South Beach is an internation destination in it own right, we need to be giving people a reason to leave the beach.

Agreed. Lincoln road is more focused on lifestyle brands and Downtown couldn't possible be considered for the types of shops in Bal Harbor for yeeeears.

Plus concentrating everything is on place is a bad ideal. South Beach is an internation destination in it own right, we need to be giving people a reason to leave the beach.

it is now, but dont forget that bal harbour lured saks away from lincoln road.

there is an h&m and forever 21 under construction on lincoln road - but they coexist with higher end retail.

lincoln road has the highest retail rents south of nyc. there are many retailers who would like to be there, there just is no available space. that is why the alton road retail project will be successful.

That's true aboput Saks but don't forget that happened in an era when Lincoln Road was down on its luck and had become a fairly depressed area. Little doubt Saks was eager to vacate at the time.

Understand your position, but I don't think an expanded BH Shops will have a really dramatic impact elsewhere in the market.

And, yes, guilty as charged of some bias here. I know the Whitman's and they're truly good people.

it is now, but dont forget that bal harbour lured saks away from lincoln road.

there is an h&m and forever 21 under construction on lincoln road - but they coexist with higher end retail.

lincoln road has the highest retail rents south of nyc. there are many retailers who would like to be there, there just is no available space. that is why the alton road retail project will be successful.

Lincoln Road ranks in the top 10 in the world for highest retail rents, so I agree there. But Bal Harbor does the top sales per square foot in all of america. It's a different kind of experience. And if they don't get bigger its going to fall apart.

Bal Harbor is about sales and Lincoln road is about experience. There are retailers at Lincoln Road who aren't really worried about sales because to them operating a store on Lincoln is really part of there international marketing budget.

International visitors come for South Beach and can walk along Lincoln and there are a range of options. If they are really looking to spend serious money why not have those people leave the rowdy vacationers and head up the street to Bal Harbor for a real luxury buying experience?

Miami needs to grow as a city and not just as South Beach.

Lincoln Road ranks in the top 10 in the world for highest retail rents, so I agree there. But Bal Harbor does the top sales per square foot in all of america. It's a different kind of experience. And if they don't get bigger its going to fall apart.

Bal Harbor is about sales and Lincoln road is about experience. There are retailers at Lincoln Road who aren't really worried about sales because to them operating a store on Lincoln is really part of there international marketing budget.

International visitors come for South Beach and can walk along Lincoln and there are a range of options. If they are really looking to spend serious money why not have those people leave the rowdy vacationers and head up the street to Bal Harbor for a real luxury buying experience?

Miami needs to grow as a city and not just as South Beach.

Bal Harbour has highest sales per sq. foot of any MALL in this country. But it does not beat 5th avenue or lincoln road in sales per sq. foot. It also is very small - it does not even approach the gross sales number of Aventura mall, which now has sales figures that dwarf the GDP of many African nations. And yes, retailers are at lincoln road because of the very high sales #s, and not just for marketing. Some chains have their most profitable stores on lincoln rd.

Things change very quickly in Miami. Ten years ago, Bal Harbour was probably Miamis most prestigious address, and Sunny Isles up the street was mostly crack houses. Today, South of Fifth is Miamis most prestigious address, and Bal Harbour might not even crack the top five. Even in Sunny Isles, there is more high end lux real estate than Bal Harbour. I wouldn't be sad to see Bal Harbour shoppes demolished.

Bal Harbour has highest sales per sq. foot of any MALL in this country. But it does not beat 5th avenue or lincoln road in sales per sq. foot. It also is very small - it does not even approach the gross sales number of Aventura mall, which now has sales figures that dwarf the GDP of many African nations. And yes, retailers are at lincoln road because of the very high sales #s, and not just for marketing. Some chains have their most profitable stores on lincoln rd.

Things change very quickly in Miami. Ten years ago, Bal Harbour was probably Miamis most prestigious address, and Sunny Isles up the street was mostly crack houses. Today, South of Fifth is Miamis most prestigious address, and Bal Harbour might not even crack the top five. Even in Sunny Isles, there is more high end lux real estate than Bal Harbour. I wouldn't be sad to see Bal Harbour shoppes demolished.

Who cares if its only the highest per square foot mall. The point still remains, it's a great destination away from Lincoln road and Lincoln road isn't really going after this high end market.

I don't understand why you're comparing Bal Harbour to SoFi. You're talking about real estate when were talking about retail sales. If you fly into Miami for vacation and you want to shop at Louis, D&G, Hermes, Gucci, Saks, etc. then your probably going to head up to Bal Harbour and away from South Beach which I think is a good thing.

You're argument was that expanding Bal Harbour would hurt South Beach and downtown. If they don't expand, these stores aren't headed to either of those locations. More likely places like Aventura. Why leave Bal Harbour a place where you already may $$$ but is small to a place like lincoln road which also doesn't have space.

Who cares if its only the highest per square foot mall. The point still remains, it's a great destination away from Lincoln road and Lincoln road isn't really going after this high end market.

I don't understand why you're comparing Bal Harbour to SoFi. You're talking about real estate when were talking about retail sales. If you fly into Miami for vacation and you want to shop at Louis, D&G, Hermes, Gucci, Saks, etc. then your probably going to head up to Bal Harbour and away from South Beach which I think is a good thing.

You're argument was that expanding Bal Harbour would hurt South Beach and downtown. If they don't expand, these stores aren't headed to either of those locations. More likely places like Aventura. Why leave Bal Harbour a place where you already may $$$ but is small to a place like lincoln road which also doesn't have space.

you are coming from a perspective of augmenting the existing mall.

imagine that you were king of miami. both lots - alton and bal harbour - are empty. where does it make most sense to build your ultra-lux shopping center? most urban planners would say alton. the only argument for bal harbour was that it used to be miami's premier address, which is no longer the case.

and i do not know anything about the movie theater business, but there is no doubt that building one in bal harbour must mean diminished prospects for the two new theaters in downtown and midtown, even if it is possible for all three to survive and thrive.

I have also heard that work on Nobe Bay may resume soon.
Any update?

I have also heard that work on Nobe Bay may resume soon.
Any update?

Are you refering to that failed kobi karp project in North Shore? The Regatta 2?

There's also the Golden Sands thing, the old Golden Sands Hotel is being demolished for a new one to be part of Canyon Ranch Miami Beach. It will be the fourth building for it.

There's also a ready to be demolished building next to Akoya.

I live in North Shore. It's very quiet compared to the rest of Miami Beach, or anywhere in the Miami area for that matter. There are empty lots, a break in the ocean front high rises, a Publix grocery store, and a bunch of old, not quite art deco 2 story rental apartments. I live in one. It's as cheap as you could ever expect to find for a Miami Beach address. There's also a few dead projects like the Regatta II, there is one building that is new, topped out, and unfinished, and the remnants of an old two story pink building with just front wall left next to it. Around these two things is a bunch of empty land. It's a quiet location.


Ohh yeah, I forgot about the new two story north shore senior center by the bandshell that's U/C. They just started the second story and it looks like they are gonna make the ground floor bigger, that or there is going to be a concrete slab outside.

^^
Here is the new north beach bandshell senior center I was talking about "going vertical," this one is two stories instead of one.
http://farm6.static.flickr.com/5131/5545143679_6fe5e11698_z.jpg
http://farm6.static.flickr.com/5092/5545143701_f276cf6489_z.jpg
http://farm6.static.flickr.com/5297/5545753406_30732094be_z.jpg

Look at this cute little Akoya:

http://farm6.static.flickr.com/5066/5551978083_637ae896fd_z.jpg

You should see the cute little Akoya I have in the Urban Photo Contest. When this was originally planned as the White Diamond, it was slated to be 565 feet tall.

This model is actually pretty big. It's at least four feet tall. Is the one you have a model, too? This is on display in a window on Collins Avenue somewhere around 65 Street. Here's a better picture:

http://farm6.static.flickr.com/5189/5556450958_461f21c67e.jpg

All right, here's the motherpost:

Somewhat on the contrary but also agreeing I just took tons of pictures in a very small area around my apartment of the deadness around north shore, including tons of two story permanent residence rental apartments and places that are still completely undeveloped. I said i'd take a couple, I took more like 100 lol.

There's just sooo much of it here. It's like 85 degrees, Friday afternoon, and there's like no one's on the beach, not even in front of the WORLDS, no not just Miami's or Florida's, the World's PREMIER health and wellness residence, Canyon Ranch Miami Beach. The rusty leaking pipes on the half demolished Golden Sands next door say otherwise. At night you can count on one hand the amount of lights on in Canyon Ranch.

I'm not really complaining that I get the privilege of living in Miami Beachbut not feeling like I'm in grand central, but it really is surprising how dead it is. Even on these spring break weekends there aren't many people on the beach at night. A trash can was lit on fire with the smoke blowing straight inland through one of the access walkways for over an hour an no one cared. Some people even sat by it and enjoyed the heat. I watched the fire and helped it burn the trash down. It went from overflowing to almost empty. Now the trash can is all charred and burnt looking. It's still there a week later, though :lol:

So why is the population of Miami Beach not rising....

Let's have a look


http://farm6.static.flickr.com/5017/5559304008_ce4c96d28b.jpg
^^
What did that say??

http://farm6.static.flickr.com/5174/5558724721_46cc1debc4.jpg
^^
Better stop off for some gas


Oh look, someone left a note on our door:
http://farm6.static.flickr.com/5253/5558725081_65911642c2.jpg


LOL our bon fire can:
http://farm6.static.flickr.com/5270/5558726657_86ab1e3d15.jpg


Code enforcement warning:
http://farm6.static.flickr.com/5269/5558725229_04b51cede4_z.jpg

Such development...
http://farm6.static.flickr.com/5291/5559306502_c38d550325.jpg

Failed Kobi Karp:
http://farm6.static.flickr.com/5107/5559291886_894226cb5e.jpg

They couldn't even finish demolition:
http://farm6.static.flickr.com/5253/5558709153_4e4f874f07.jpg

Kobi Karp is even pretentious enough to have someone guard this garbage:
http://farm6.static.flickr.com/5255/5558705853_567c67dafc.jpg

Even this two story rental apartment couldn't make it:
http://farm6.static.flickr.com/5094/5559290452_c2e01916bb.jpg

So why is the population falling?

Maybe this bird knows.
http://farm6.static.flickr.com/5092/5558714349_c99532743f.jpg


Two story rental apartment time:
http://farm6.static.flickr.com/5014/5559276454_774c566267.jpg
^^
There's about 500 of those, the street is so dead you can stand in the middle of it:
http://farm6.static.flickr.com/5145/5559278528_0a1b9d331c.jpg
^^At 800 a pop they're not makin' much off a these. There aren't even parking meters in this area.

How about some space, huh?

Here's a MiamiBeach Meadow:
http://farm6.static.flickr.com/5182/5559282056_0cc08291fc.jpg

A completely empty level parking lot:
http://farm6.static.flickr.com/5179/5558701741_c5ec8091d5.jpg
^^That's a Publix across the street

Empty lake, empty ________
http://farm6.static.flickr.com/5303/5558703803_505bfce0d1.jpg
^^The sun goes down alone

Oh I was wrong a couple people:
http://farm6.static.flickr.com/5227/5558704085_de708c7527.jpg
On an 80's and sunny afternoon

Canyon Ranch, finsish what you started...
http://farm6.static.flickr.com/5309/5559283512_b45cc26477.jpg

Front:
http://farm6.static.flickr.com/5264/5558702639_32c71efc59.jpg

More parking lot
http://farm6.static.flickr.com/5174/5559279716_ba0f583936.jpg



More of that 7140 Abott Avenue abandoned place with the Code Compliance notices:
http://farm6.static.flickr.com/5135/5558698215_a1a5867be1.jpg

I smell foreclosure:
http://farm6.static.flickr.com/5056/5559277716_60753cce30.jpg

A completely undeveloped lot; that is water work not construction in the background; over the last few weeks they've been tearing up all sorts of sidewalks and side roads.
http://farm6.static.flickr.com/5061/5559275810_0c478a9693.jpg

Wanna bike? I swear they're not stolen. They even come with this nifty rack:
http://farm6.static.flickr.com/5252/5558728395_75852dc3be.jpg

Undeveloped oceanfront:
http://farm6.static.flickr.com/5063/5558705255_67939454c3.jpg

Closed plaza storefront:
http://farm6.static.flickr.com/5060/5558704443_f4e568e425.jpg

Low demand area = low gas prices:
http://farm6.static.flickr.com/5141/5559303578_59e9353ef5.jpg

and stations that can't even make it:
http://farm6.static.flickr.com/5022/5559276276_96b420f7f7.jpg


^^North Beach is a dead area

My guess/hope/prediction:

I think we can bank on North Beach being the focus of the next major development shift. I mean where else would you want to put your new condo rather than North Shore where there is a huge break in the condos = no demolition necessary. Empty, available lots. As for the low capital neighborhood, just raise those taxes so those trailer like two story rental apartments can't afford to hold out unless the rent gets raised to over grand and no one wants to pay that much for those POS's and they fold.

*No way Miami Beach can hold out much longer the way it is. When I moved here I was surprised to see it was like this. I thought it would all be so high demand that half of it would be gated off rich celebrity home communities and the other half would be high rise luxury condos.

Looks like LVMH brands are leaving Bal Harbour in favor of the Design District and Aventura

http://blogs.sun-sentinel.com/features_fashion/2011/03/video-louis-vuitton-expands-into-aventura-mall-and-miami-design-district.html

Citi Centre and Worldcenter will likely make plays for them as well.

This is excellent news. Hopefully a death knell for BH Shops, an idea whose time has come and gone.

A "death knell" for Bal Harbour Shops? That's pretty funny.

Looks like LVMH brands are leaving Bal Harbour in favor of the Design District and Aventura

http://blogs.sun-sentinel.com/features_fashion/2011/03/video-louis-vuitton-expands-into-aventura-mall-and-miami-design-district.html

Citi Centre and Worldcenter will likely make plays for them as well.

This is excellent news. Hopefully a death knell for BH Shops, an idea whose time has come and gone.

They want to leave Bal Harbour because the don't have room for a bigger store. Which is why Bal Harbour is trying to expand. With the money that is made at Bal Harbour this is definitely not the end. More than likely Bal Harbour will start to get bigger then if a few years LV will be back.

They want to leave Bal Harbour because the don't have room for a bigger store. Which is why Bal Harbour is trying to expand. With the money that is made at Bal Harbour this is definitely not the end. More than likely Bal Harbour will start to get bigger then if a few years LV will be back.

Read the article again. This move by LVMH is very significant.

Until now, Bal Harbour has forced tenants to sign leases which did not allow them to open any other stores in the Miami market.

The LVMH PR states that the Miami market is large enough for more than one store.

After many decades, the Bal Harbour monopoly is finally crumbling. Expect more stores to follow. This means that downtown, design district and other areas will now have a chance at these stores.

LVMH alone owns the following brands, each of which could possibly operate individual stores:

Vuitton is part of a huge holding company called LVMH Moet Hennessy Louis Vuitton SA, which – among many other labels – owns Fendi, Donna Karan, Givenchy, Kenzo, Marc Jacobs, Loewe, Celine, Thomas Pink, Bulgari, TAG Heuer, Guerlain, Sephora as well as wine-makers such as Dom Perignon, Veuve Clicquot, Moet et Chandon, Hennessy and Krug.

Read the article again. This move by LVMH is very significant.

Until now, Bal Harbour has forced tenants to sign leases which did not allow them to open any other stores in the Miami market.

The LVMH PR states that the Miami market is large enough for more than one store.

After many decades, the Bal Harbour monopoly is finally crumbling. Expect more stores to follow. This means that downtown, design district and other areas will now have a chance at these stores.

LVMH alone owns the following brands, each of which could possibly operate individual stores:

Vuitton is part of a huge holding company called LVMH Moet Hennessy Louis Vuitton SA, which – among many other labels – owns Fendi, Donna Karan, Givenchy, Kenzo, Marc Jacobs, Loewe, Celine, Thomas Pink, Bulgari, TAG Heuer, Guerlain, Sephora as well as wine-makers such as Dom Perignon, Veuve Clicquot, Moet et Chandon, Hennessy and Krug.

Maybe you should read the Miami Hearald article about Bal Harbour expanding again.

LV first choice was to expand their store at Bal Harbour. It wasn't until Bal Harbour told them that wasn't possible that they decided to go elsewhere.

Bal Harbour Mall has the higest sales per sqft in the country. Predicting that LV leaving because they don't have enough room for them to expand as the death of Bal Harbour seems pretty premature (as in ridiculous). Especially when Bal Harbour currently has plans to expand.

They are currently in talks with Bergdorf Goodman, Bar*ney’s New York and Bloom*ingdale’s Soho for another 90,000 sqft specialty department store. And another 100,000 sqft of smaller retail space for 50 new luxury retailers. The also have plans for a luxury Cobb theater with reclining chairs and a Barton G event space.

Also if LV feels Miami can only support one store then why are they planning an addition stand alone store in the Miami Design District?

Also their other labels have nothing to do with LV leaving Bal harbour. Again the only reason they are leaving is because of space. You make it seem like they left Bal Harbour becasue of bad feelings and for some reason no allow the other brands to be sold there.

Maybe you should read the Miami Hearald article about Bal Harbour expanding again.

LV first choice was to expand their store at Bal Harbour. It wasn't until Bal Harbour told them that wasn't possible that they decided to go elsewhere.

Bal Harbour Mall has the higest sales per sqft in the country. Predicting that LV leaving because they don't have enough room for them to expand as the death of Bal Harbour seems pretty premature (as in ridiculous). Especially when Bal Harbour currently has plans to expand.

They are currently in talks with Bergdorf Goodman, Bar*ney’s New York and Bloom*ingdale’s Soho for another 90,000 sqft specialty department store. And another 100,000 sqft of smaller retail space for 50 new luxury retailers. The also have plans for a luxury Cobb theater with reclining chairs and a Barton G event space.

Also if LV feels Miami can only support one store then why are they planning an addition stand alone store in the Miami Design District?

Also their other labels have nothing to do with LV leaving Bal harbour. Again the only reason they are leaving is because of space. You make it seem like they left Bal Harbour becasue of bad feelings and for some reason no allow the other brands to be sold there.

Please reread what I wrote again.

The Miami market most definitely can support multiple locations for these store brands.

Bal Harbour was not allowing this though. Tenants were forced to sign exclusivity deals, and for decades Bal Harbour could get away with this.

Now, this monopoly has finally been broken. If Bal Harbour wants LVMH back, they will be forced to concede this point. Whether or not LVMH does come back, existing tenant are also going to demand out of the clause or threaten to leave. The door is finally open for others to compete.

Bal Harbour does currently boast the highest sales psf in the country, because this is the only place in Miami to shop these stores. Even in the best case scenario, BH will only be adding a few hundred thousand sf. - tiny compared to their new competitors. In the future, when shoppers are given the choice to shop these exact same brands at the fabulous 5M SF Citicentre, magnificent 18M SF Worldcenter, thriving Design District or Aventura, or even South Beach, will Bal Harbour still be the #1 destination for luxury shoppers? The answer is getting clearer and clearer.

Looks like LVMH brands are leaving Bal Harbour in favor of the Design District and Aventura.That isn't true.
LVMH will have several brands represented in Bal Harbour Shops after they expand their Louis Vuitton store elsewhere. LVMH is not leaving, Louis Vuitton is leaving Bal Harbour. Several of the Louis Vuitton Moet Hennessy brands remain.

That isn't true.
LVMH will have several brands represented in Bal Harbour Shops after they expand their Louis Vuitton store elsewhere. LVMH is not leaving, Louis Vuitton is leaving Bal Harbour. Several of the Louis Vuitton Moet Hennessy brands remain.

At least until the lease expires... This move signals that LVMH is unlikely to re-sign an exclusive lease at Bal Harbour for any of their brands.

Please reread what I wrote again.

The Miami market most definitely can support multiple locations for these store brands.

Bal Harbour was not allowing this though. Tenants were forced to sign exclusivity deals, and for decades Bal Harbour could get away with this.

Now, this monopoly has finally been broken. If Bal Harbour wants LVMH back, they will be forced to concede this point. Whether or not LVMH does come back, existing tenant are also going to demand out of the clause or threaten to leave. The door is finally open for others to compete.

Bal Harbour does currently boast the highest sales psf in the country, because this is the only place in Miami to shop these stores. Even in the best case scenario, BH will only be adding a few hundred thousand sf. - tiny compared to their new competitors. In the future, when shoppers are given the choice to shop these exact same brands at the fabulous 5M SF Citicentre, magnificent 18M SF Worldcenter, thriving Design District or Aventura, or even South Beach, will Bal Harbour still be the #1 destination for luxury shoppers? The answer is getting clearer and clearer.

A few hundered thousand sqft (new space) not including the 500,000 sqft already there is tiny for luxury retail???????

What in the world are you talking about. Bal harbour is exclusively lusury retailers. Most of these brands don't want to be in huge mega complexes next to a GAP store with countless people who can't afford to buy anything walking in because they just bought a $20 shirt next door. Have you ever been to Bal harbour? Unless you're there to spend $$$ they really isn't anything to do.

And for the love of god, Citicentre will not have 5 million sqft. Where do these people get these ridiculous notions from??? You'll be lucky when it's all said and done if they even get 1 million sqft of actual retail. And then of that amount, most of it will be non luxury approachable retail. A major department store like a Macy's as the Anchor with smaller in-line retailers feeding of the traffic from them.

I love Brickell, I live in Brickell, and I'm rooting for it all the way. But it's not going to be the center for luxury retailers. I've spoken directly with the Vice President of Development at Swire and this isn't even their focus. They are trying to bring the needed day to day retail so support the new residents. They want places where people can go buy daily necessities. I wouldn't be suriprised if the put a Target in there.

And Miami WorldCenter??? Are you kidding me. If it even ever does happen, under the best of circumstances a considerable portion won't be here for another decade. You can't really be predicting the death of Bal harbour to a project that won't be here until a decade later.

The Miami design district does have that up and coming feel to it but it's still a long way off. And even then it's still more of a place to put a small boutique store.

And what monopoly are you talking about. The argeement was that they couldn't operate another LV within a certain distance of the Bal Harbour location. Aventura happened to be within that distance. If LV wanted to open up anoter location Merrick for example, they would have been free to do so. More than likely Aventura will have the same agreement, meaning once they are in at Aventura they can't also operate at Bal Harbour.

Besides which Bal Barbour is not the only location that you can purchase these brands. For example, Merrick Park has a Neiman Marcus and a Nordstrom which both carry LV. As well as Saks at Dadeland.

I suspect that a few of these places will eventually get a few luxury retails but will be more from the growth of the market than from these retailers leaving Bal Harbour.

At least until the lease expires... This move signals that LVMH is unlikely to re-sign an exclusive lease at Bal Harbour for any of their brands.

Again completely false and completely ridiculous. Most of these other brands don't have leases with Bal Harbour. If they are sold at Bal Harbour then they are sold through other retailers like Saks and Neiman Marcus. Celine and Fendi are the only ones that do and these brands aren't likely to do better anywhere else as a standalone store. Larger brands are able to do this like Gucci who also has a standalone store at Merrick Park and Bal Harbour.

If you don't know about something and simply want to add your opinion that cool, but writing complete nonsense as if you actually know about the subject doesn't help the forum.

^^

I am not sure if this is some kind of joke, but you really need to educate yourself regarding the underlying reality before launching into such a debate.

In fact, you seem to be missing the basic facts regarding this move, much of which can be found in an unusually well researched Miami Herald article.

The article can be found here:
http://www.sun-sentinel.com/business/mh-louis-vuitton-20110328,0,1697095.story

Here are some relevant highlights, please read closely:

Geoffroy Van Raemdonck, president of Louis Vuitton North America, said the brand decided it needed a bigger store in South Florida than Bal Harbour could accommodate and also did not want to be limited to one store in the market. Bal Harbour's leases prohibit tenants from opening a second store within 20 miles unless Bal Harbour's owners receive a percentage of the additional store revenue.

"We believe that this market deserves more than one free-standing store," Van Raemdonck said. "We feel that we are not reaching the customers if we have only one store in the market. We want to give them multiple chances to experience the brand in its full notoriety."

The move is particularly dramatic because Louis Vuitton was one of Bal Harbour's oldest and most successful tenants. The brand has been there for about 30 years, when it chose the site for its first U.S. location outside of New York.

"We believe that the Design District has huge potential," Van Raemdonck said. "We feel that we can be the first large brand to go in there and we have no doubt that others will follow."

At least some of those followers are expected to come from among the nearly dozen other LVMH brands that currently have stores at Bal Harbour, a lineup that includes Dior, Marc Jacobs, Fendi, Celine, Emilio Pucci, Thomas Pink and De Beers.

Matthew Whitman Lazenby, one of the owners of Bal Harbour, says his family was told by LVMH executives that the company plans to pull all brands out of the shops as their leases expire. But Lazenby also said they have been told by individual brands that is not the case.

The only other LVMH brand with a lease expiring this year is Dior, whose lease expires at the end of May. Dior has not renewed its lease with Bal Harbour, and the mall is taking steps to find another tenant for the space, Lazenby said.

The last time Miami's luxury retail market faced a potential shakeup along this order came with the construction of the Village of Merrick Park in Coral Gables. Merrick Park's developers sued the Bal Harbour Shops' owners over the radius restriction clause. The case settled, and Bal Harbour Shops agreed to waive the radius restriction with respect to Merrick Park. But for retailers such as Gucci and Tiffany that opened second stores in Merrick Park, the owners of Bal Harbour Shops relocated them to the mall's second, less desirable floor when their existing leases expired.

...and as you can undoubtedly understand, Merrick Park does not represent the same threat to Bal Harbour that these upcoming districts will.

You might do well to actually visit Bal Harbour. The existing Saks is woefully undersized and outdated in design, and NM is not much better. In fact a Gap did exist at the mall, at least until recently. The mall is way behind the curve when it comes to expansion and renovation.

^^

I am not sure if this is some kind of joke, but you really need to educate yourself regarding the underlying reality before launching into such a debate.

In fact, you seem to be missing the basic facts regarding this move, much of which can be found in an unusually well researched Miami Herald article.

The article can be found here:
http://www.sun-sentinel.com/business/mh-louis-vuitton-20110328,0,1697095.story

Here are some relevant highlights, please read closely:


...and as you can undoubtedly understand, Merrick Park does not represent the same threat to Bal Harbour that these upcoming districts will.

You might do well to actually visit Bal Harbour. The existing Saks is woefully undersized and outdated in design, and NM is not much better. In fact a Gap did exist at the mall, at least until recently. The mall is way behind the curve when it comes to expansion and renovation.

Maybe you should also read all of the actual articles you post a little more closely.

"Industry experts say that just like with Merrick Park's opening, Bal Harbour Shops will adjust even if it means its sales numbers come down from the stratosphere. The shopping mall's sales in 2010 were $2,013 per square foot; that's more than five times the national average and believed to be the highest at any mall in the country."

"Bal Harbour is not going anywhere," Weiner said. "It's a sparkling jewel. There will be brands that come and go. The difference is that those brands will now have choices."

Bal Harbour is using the departure of LV as the basis of its argument to justify expansion. But it's pretty obvious that whether they expand or not they are going to do well. So maybe their sales per foot drops to 4 times the national average instead of 5. But they'll claim they need the expansion to compete.

"Bal Harbour's owners used news of Louis Vuitton's imminent departure earlier this month when it presented plans for expansion to the Village Council. Bal Harbour claims it had no space for Louis Vuitton to expand. Stanley Whitman, who built the 46-year-old project, told the council that if he could not expand he ran the risk of losing tenants to Aventura Mall, South Beach and other locations around South Florida."

"Matthew Whitman Lazenby, one of the owners of Bal Harbour, says his family was told by LVMH executives that the company plans to pull all brands out of the shops as their leases expire. But Lazenby also said they have been told by individual brands that is not the case."

And let's point out that a lot of the information in both articles are not FACTS.

Facts are things like Bal Harbour's sales per sqft is $2,013.

The owner saying to the village council that all LVMH brands are pulling out we need to be allowed to expand and then turning around and saying that the individual brands are saying they staying and oh yeah by the way I've got a list of luxury retailers dying to come to Bal Harbour as soon as one leaves isn't fact. That's speculation.

Merrick park caters toward luxury retailers. You think Citicentre which doesn't even currently exists and most likely wont cater towards luxury retailers posses more of a threat to Bal Harbour than Merrick Park. :lol:

LV is leaving Bal Harbour. A news articles hypes it up that POSSIBLY more brands might leave. And then you hype up the article that Bal Harbour is now finished.

Just like you read the article hyping up Citicentre and make comparisons like they'll have a "fabulous" 5 million sqft when most of that wont be retail.

Reading articles on the internet is great, but you have to have some knowledge of the market to understand it.

Easy guys.

North Shore senior/oceanfront center, yesterday
http://farm6.static.flickr.com/5148/5564879353_aa55ddd773.jpg
http://farm6.static.flickr.com/5099/5564844921_dd436926d8.jpg

Dead development on Collins Ave
http://farm6.static.flickr.com/5021/5565058215_4301ddae8a.jpg

All right, here's the motherpost:



So why is the population of Miami Beach not rising....

Let's have a look


^^North Beach is a dead area

My guess/hope/prediction:

I think we can bank on North Beach being the focus of the next major development shift. I mean where else would you want to put your new condo rather than North Shore where there is a huge break in the condos = no demolition necessary. Empty, available lots. As for the low capital neighborhood, just raise those taxes so those trailer like two story rental apartments can't afford to hold out unless the rent gets raised to over grand and no one wants to pay that much for those POS's and they fold.

*No way Miami Beach can hold out much longer the way it is. When I moved here I was surprised to see it was like this. I thought it would all be so high demand that half of it would be gated off rich celebrity home communities and the other half would be high rise luxury condos.

Its also never a good sign when your streets are literally blowing up and spewing raw sewage at the neighboring businesses:

http://www.miamiherald.com/2011/04/06/2154540/sewage-line-explodes-leaving-beach.html


Road and traffic a mess after sewage line explodes in Miami Beach

Its also never a good sign when your streets are literally blowing up and spewing raw sewage at the neighboring businesses:

http://www.miamiherald.com/2011/04/06/2154540/sewage-line-explodes-leaving-beach.html


Road and traffic a mess after sewage line explodes in Miami Beach

Yeah that happened right outside my apartment. I never saw it until after it was all settled down. I was wondering why there were so many (at least 5) TV vans there. The officer blocking the street said "must be a slow night for news, nothing else to cover," and that it wad a "water main break."

Since they ran out of money and quit construction on the North Shore Senior Center a couple weeks ago, they are now having a festival to try to fund it. It's a music concert, it costs 25 dollars, and there's no bathrooms. It's the ninth annual Heiniken something.

http://farm6.static.flickr.com/5183/5671183046_5be03b845c_z.jpg

They have now rebegun work on the north shore senior center.

http://www.miamiherald.com/2011/06/14/2266575/2-firms-combine-to-complete-condo.html


2 firms combine to complete condo

A stalled condo project in Miami Beach traded hands this week. The new owners plan to spend $10 million completing it and a nearby parking garage.

By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com

Two Miami-based companies joined to buy an unfinished condo project in Miami Beach this week, setting the stage for completion and sales after a lengthy foreclosure process left the project stagnant for two years.

The 98-unit NoBe Bay at 6700 Indian Creek Drive in Miami Beach was purchased by 13th Floor Investments and Key International, both based in Miami. The sales price, which was not disclosed, included a 463-space unfinished parking garage near the property.

“I think they got a very good price,” said Mark Pordes, who brokered the deal and has been active in the North Beach section of Miami Beach.

“They have purchased the building in its entirety and they have no internal competition.”

The buyers said they plan to put an additional $10 million into finishing the 15-story tower and nearby parking garage over the next year and marketing it to new buyers.

“We identified an opportunity to buy an irreplacable asset for well below replacement cost,” said Arnaud Karsenti, managing principal with 13th Floor Investments. “And more importantly, the opportunity to deliver that product and that value to the user at an outstanding price.”

Miami Beach-based Merco Group broke ground on the bayfront project during the housing boom in 2005, but was not able to launch before the economy tanked. The project stalled and its lenders began foreclosure proceedings, eventually obtaining a $47 million judgment in May.

Merco Group, which owns the nearby Deauville Beach Resort Hotel on Miami Beach, had planned to use to parking garage for hotel guests and condo owners. Both the garage and the condo are about six months away from completion, Karsenti said.

The condo has one-, two- and three-bedrooms, with an average unit size of 1,150 square feet.

Pre-construction prices ranged from $400,000 to $1.1 million during the boom, but price tags will be lower when the condo comes on line next year.

The 1 acre empty lot next door (two lots north) also has a CREC for sale sign on it now in addition to the old wooden Kobi Karp sign.

Article on the status of Biscayne Landing:

http://www.bizjournals.com/southflorida/news/2011/09/22/swerdlow-plan-for-landing-site-could.html

If Miami can get out of its own way and let these developers get going on these projects we could be in for a fun decade. But some how I know they'll find a way to screw it up.

This is excellent news. Hopefully a death knell for BH Shops, an idea whose time has come and gone.

After many decades, the Bal Harbour monopoly is finally crumbling. Expect more stores to follow. This means that downtown, design district and other areas will now have a chance at these stores.


September 26, 2011
Hermès to Relocate Miami Store
By Sharon Edelson

Hermès is trading the established Bal Harbour Shops for the burgeoning Miami Design District, an 18-square-block area with a hip undercurrent that’s in the throes of gentrification.

http://www.wwd.com/retail-news/designer-luxury/herms-to-relocate-miami-store-5225516

Hermès is trading the established Bal Harbour Shops for the burgeoning Miami Design District, an 18-square-block area with a hip undercurrent that’s in the throes of gentrification.This story continues to amaze me...

^^ It will really amaze you then that the Hermes store in the Design District will be double the size of the current Bal Harbour store.

The Bal Harbour monopoly is just about dead now.

^^ It will really amaze you then that the Hermes store in the Design District will be double the size of the current Bal Harbour store.That it is bigger isn't amazing. It is probably bigger and half the cost.
The amazing part is that luxury brands would leave a place with such a critical mass of luxury stores in favor of a place that is still not luxurious. "Hip undercurrent" isn't a phrase normally associated with Hermes.

I didn't get the article...is it going in the Moore Building?

I doubt BH Shops will cry. I have heard there's a 2 year backlog of tenant's for that place. And while indoor malls are dying around the nation, someone forgot to give that memo to Aventura mall!

Did the town ever give permission for Bal Harbour Shops to expand? I have not come across any news since March. The town could have denied it or put off the decision.

That it is bigger isn't amazing. It is probably bigger and half the cost.
The amazing part is that luxury brands would leave a place with such a critical mass of luxury stores in favor of a place that is still not luxurious. "Hip undercurrent" isn't a phrase normally associated with Hermes.

I didn't get the article...is it going in the Moore Building?


The full article is now available here: http://www.dacra.com/article.php?articleID=212

I am not sold yet on the Design District either...

Marni, Christian Louboutin, Louis Vuitton, and now Hermes. That's pretty impressive.

Marni, Christian Louboutin, Louis Vuitton, and now Hermes. That's pretty impressive.Impressive...but an extraordinary risk. The rent is low (for a reason). Check out the demos in 1 mile, 3 mile and 5mile.
Anchor tenants such as Sax 5Ave and Neiman bring a lot of wallets to BHS. 4 stores in the neighborood that closes on weekends can't match up in my opinion...Bon Chance!

Now Cartier has closed the Bal Harbour store and will be opening in the design district in a few months.

BH might as well shut down now. Demolish the building and donate a park to the city.

For does of you that dont know LVMH isnt just opening stores in the Design District, they are the equity partner behind the entire redevelopment. I agree that department store(s) work as anchors bringing in the mass thats why they have made sure to leave space for not (1) but (2) high-end department stores: I'll let you guys guess who they are...

Interesting...but the Design District...??? why cause of word "Design" I haven't been to the area in about 3 yrs...maybe I need to check it before making a comment about the area....:)

are you saying you haven't been to the art walks on saturday nights?.... ^^^ your missing out (worlds best food trucks)!

are you saying you haven't been to the art walks on saturday nights?.... ^^^ your missing out (worlds best food trucks)!

Not even a mention of the wynwood revolution :ohno:

I agree that department store(s) work as anchors bringing in the mass thats why they have made sure to leave space for not (1) but (2) high-end department stores: I'll let you guys guess who they are...Interesting....

Now Cartier has closed the Bal Harbour store and will be opening in the design district in a few months.

BH might as well shut down now. Demolish the building and donate a park to the city.

Bal Harbour Shops welcomes new, exclusive tenants

Bal Harbour Shops welcomes new luxury tenants, sticks to its ‘allure’ of exclusivity.

Read more: http://www.miamiherald.com/2011/12/01/2527481_p2/bal-harbour-shops-welcomes-new.html#ixzz1fOsHWLlV

"As the luxury market continues to rebound, the mall’s sales are on track to hit what is expected to be a national record in 2011 of $2,277 in sales per square foot. Bal Harbour same store sales are up this year 26 percent compared to the same period last year."

So exactly how long after they post record sales should they shut down????

...
So exactly how long after they post record sales should they shut down????

Industry standard is eight weeks.

Industry standard is eight weeks.

I thought that was only after record square footage lease rates had been accomplished.

Either way, I can already hear those wrecking balls approaching. We're going to miss you, immensely profitable and expanding Bal Harbour Shops!

Bal Harbour Shops welcomes new, exclusive tenants

Bal Harbour Shops welcomes new luxury tenants, sticks to its ‘allure’ of exclusivity.

Read more: http://www.miamiherald.com/2011/12/01/2527481_p2/bal-harbour-shops-welcomes-new.html#ixzz1fOsHWLlV

"As the luxury market continues to rebound, the mall’s sales are on track to hit what is expected to be a national record in 2011 of $2,277 in sales per square foot. Bal Harbour same store sales are up this year 26 percent compared to the same period last year."

So exactly how long after they post record sales should they shut down????

The economy in Miami is booming and Bal Harbour is benefiting from it. The new tenants are clearly second tier brands, and the loss of their exclusivity agreements will lead to continued erosion in market share.