Category: Luxury Condos

News about luxury condos

Major Price Improvement | 4-Bed/4.5-Bath Waterfront Condo at Elysee with Sweeping Views

Posted on by Michael Light

Major price improvement on an amazing opportunity for an exquisite condo at Elysee featuring panoramic ocean and Miami Beach skyline views!

Offered at $5,275,000, Unit 4602 at Elysee features a private elevator and foyer that leads you into this bespoke flow-through unit offering nearly 4,000 sf of indoor living that seamlessly connects a private sunrise terrace to the east and an expansive sunset terrace to the west. The sunrise terrace features sweeping water views, while the sunset terrace offers a beautiful view of the vibrant Miami Beach skyline. This luxury condo boasts 4 bedrooms, 4.5 bathrooms, a great room, family room, library, staff’s lounge and a Chef’s eat-in kitchen by ItalKraft featuring gas cooking (rare in a condo building in Miami) and Wolf/Sub-Zero appliances. This unit also showcases hardwood flooring throughout, 10-foot ceilings and dramatic floor-to-ceiling windows to highlight the water views…sheer sophistication with a modern flair.

Rising 57 stories above Biscayne Bay in the Edgewater neighborhood of Miami, Elysee consists of only 94 (1/2 floor & full floor) bespoke condo residences with a splash of French-inspired modern design by renowned Jean-Louis Deniot. The ultra-luxe building offers its residents exclusive unparalleled amenities located on three full floors. The lobby level boasts a grand marble lobby and entrance and a bayfront sunrise swimming pool. The 7th floor offers a resort-style 75-foot lap pool, outdoor summer kitchen and barbecue terrace, high-tech fitness center, private yoga studio, his and her spa with private massage rooms, sauna and steam rooms, blow dry hair bar & hair bowl and kid’s play room. The 30th floor amenities include a great room with grand piano and stunning panoramic views of Biscayne Bay, Atlantic Ocean and the Miami Beach skyline, elegant dining room with wine coolers, library that converts to a private theater, social lounge bar, chef’s catering kitchen with indoor and outdoor seating, business center and game room.

If you are interested in a private viewing of Elysee Unit 4602, please contact listing broker, Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or michael@201813.com.

 

Construction Update On CMC Group’s Vita At Grove Isle In Coconut Grove

Posted on by Sarah Elles Boggs

One year has passed since Ugo Colombo’s CMC Group broke ground on Vita at Grove Isle and everything is moving along as scheduled. The seven-story boutique condominium has now surpassed the halfway mark of their 2-year build schedule and is nearing top-off.

Located on the Northern pointe of Coconut Grove’s 20-acre private island named Grove Isle, the seven-story project is deceiving in that the curved structure is actually three separate buildings that are joined. This allows for the curved exterior to maximize the view for each of the 65 private residences.

In January of 2024, CMC Group was awarded a massive $239 million construction loan from Bank OZK. This infusion of financing will complete the tower, taking into consideration the strength of the developer and the sales contracts received from the pre-construction selling period.

It is expected that the conjoined buildings will reach full height by the summer, allowing for closings to begin in the summer of 2025.

Vita at Grove Isle Construction Progress March 2024 Aerial

Aerial of Vita at Grove Isle Construction Progress March 2024

Developer Ugo Colombo’s Thoughts

One of the aspects of this project that stuck out to Ugo Colombo early on was the location at 5 Grove Isle Drive is truly unlike any other in the city. Not only is it the last available site for a project on Grove Isle, but the last waterfront development site in all of Coconut Grove.

Pairing the last waterfront development site with Coconut Grove’s new status as the “it” community for the area’s elite, something truly substantial had to be planned. The ambiance that he planned was 65 boutique residences that are evocative of living in waterfront single family estates, with the level of convenience and service that condominium living is able to offer.

In a statement, Mr. Colombo said, “Vita at Grove Isle will be the cornerstone of Grove Isle’s renaissance, bringing back the spirit of its glory days while ushering in a new era of luxury that the island has yet to see. Once complete, Vita will be a haven for residents and its island neighbors who seek a waterfront escape, complete with a Michelin-quality restaurant and clubhouse that’s just minutes from a walkable, family-friendly neighborhood with endless live-work-play options.”

Those who are curious of the quality that comes with an Ugo Colombo-developed project can see some examples of his work locally at the famed Grovernor House, which was completed in 2006. In Brickell, he added towers that include Santa Maria from 1996, Epic Residences from 2008 and Brickell Flatiron, which was completed in 2019.

One of the most notable characteristics I can point out as a professional in the local marketplace for over 15 years, the projects developed by Ugo Colombo do not show their age. Even buildings he built 30 years ago stand tall in the skyline with timeless design and quality. This will certainly ring true for Vita at Grove Isle as well as the newly announced Four Seasons Coconut Grove that will be built just across the private causeway.

Vita at Grove Isle Boat Dock Rendering

Vita at Grove Isle Boat Dock Rendering

Inside Vita at Grove Isle

As the construction wraps up on the structure, making way for the interior finishes, let’s talk about what those will entail. The project is designed to offer resort-style amenities to a select few, this includes a Vista at Grove Isle Club.

Vista at Grove Isle Club is a private club exclusive to residents. The club offers a pool and adjacent bar with night-lit tennis, padel and pickleball. Guests will also be able to enjoy gourmet restaurant and bar options and access to the private marina.

The residence-style layouts include private elevators to each home with expansive views from the 13-ft deep terraces. The kitchens are stylishly integrated with concealed appliance suites, book-matched marble backsplashes and counters and masterfully crafted stonework.

Layouts of the exclusive residences include three-, four-, and four-plus-den layouts that start at $6 million. Exclusive penthouses with rooftop terraces measuring 6,600 square feet and private pools are priced from $19.5 million.

If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman AND long-time Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com.

Image Credit: CMC Group
Vita at Grove Isle Construction Progress March 2024

Vita at Grove Isle Construction Progress March 2024

Rendering of Vita at Grove Isle Entry

Rendering of Vita at Grove Isle Entry

Rendering of Vita at Grove Isle Primary Bath

Rendering of Vita at Grove Isle Primary Bath

Rendering of Vita at Grove Isle Kitchen

Rendering of Vita at Grove Isle Kitchen

Rendering of Vita at Grove Isle Balcony

Rendering of Vita at Grove Isle Balcony

The Residences At 1428 Brickell Is Over 40% Sold, Lands $104 Million Construction Financing

Posted on by Sarah Elles Boggs

The Residences at 1428 Brickell has hit two major milestones on the lead-up to groundbreaking. This week it was announced that developer YTech has secured $104 million in construction financing for the project just as the sales team has announced that over 40% of the 189 planned residences have sold.

Ytech has had an incredibly busy year with the project. Sales were launched in January of 2023, marking just over 1 year to sell almost half of the project. This is an astounding rate of absorption for preconstruction residences that begin at $2.4 million up to $7 million.

The construction site at 1428 Brickell is currently in the demolition phase of the previous structure. We have not yet learned when the groundbreaking date could be, but we know that it will be soon. This groundbreaking date is date is contingent upon the clearing of the build site with new, more stringent demolition processes in the urban core.

Entering into the summer of 2023, YTech surprised the market by unveiling an opulent $20 million sales gallery that pays homage to Brickell’s rich history, yet with an interior that fully immerses prospective buyers into the future that 1428 Brickell will offer.

1428 Brickell Sales Gallery Sample Kitchen Layout

1428 Brickell Sales Gallery Sample Kitchen Layout

Inside the sales gallery, buyers are met with an illuminated and suspended scale model of the neighborhood as well as full-scale buildout of a residence as they will be upon completion. An LED display is also able to demonstrate the views from the different points in the 861-foot 70-story tower.

“We continue to successfully hit our targets in sales, finance, and construction for this project, surpassing 40% in sales within a year, securing $104 million in financing, and commencing the demolition process,” Yamal Yidios, CEO of Ytech said in a release. “As we approach groundbreaking, we are determined to deliver the highest-quality project in Brickell.”

Construction Financing

The receipt of construction financing is always a large stepping stone in the process of developing new towers. Not only does it offer the capital necessary to complete the project prior to closings beginning, but it is also a testament to the strength of the project itself from a business standpoint.

Before offering construction loans, banks review the previous track record of the developers, their plans for the project and the sales that have occurred in the pre-construction phase. No page is left unturned in this underwriting process and construction loans are among the most difficult loan types to obtain.

In the case of 1428 Brickell, the financing includes a $78 million refinance of the build site itself, given by Linkvest Capital. This replaced a $20 million mortgage that was used to secure the site when the project was in its conceptual phase.

An additional $26 million mortgage was issued by Banesco for the historic properties at neighboring 1500 and 1548 Brickell Avenue. 1548 Brickell is the newly-restored home of Major Food Group’s Chateau ZZ Restaurant and you will find the $20 million sales gallery for The Residences at 1428 Brickell in the historic home that is located at 1548 Brickell.

Rendering of The Residences at 1428 Brickell

Rendering of The Residences at 1428 Brickell

About The Residences at 1428 Brickell

Even in a seemingly-saturated market of lovely new condo residences, 1428 Brickell is a standout on many levels. This is the first project in Miami to put the sunshine to work with over 20,000 square feet of photovoltaic glass along the western backbone of the tower. These panels will absorb the sunlight for use as energy in the tower.

Inside the project, developers have laid out over 80,000 square feet of amenity space that includes a 10,000 square foot gym, a rooftop pool and spa, and a two-story wine and fine art lounge. The residences themselves are laid out in a way that embraces the location in Miami’s Financial District to maximize the views and usability of the layouts.

This combination of maximizing the space and location to allow estate-style living in the heart of the city and still maintaining favorable pricing without sacrificing quality or luxury is a delicate dance that Ytech has mastered beautifully. Prices range from $2.4 million for a two-bedroom plus den, to four-bedrooms plus den ranging from $5.5 million to $7 million. Lower penthouses start at $8 million with the spectacular $60 million penthouse that has 30-foot ceilings and unparalleled views and a private rooftop pool. The Residences at 1428 Brickell is slated for completion in 2027.

For more information, please download the fact sheet and floor plans here:
1428 Brickell Fact Sheet
1428 Brickell Floor Plans

If you are interested in a private presentation of The Residences at 1428 Brickell with current availability and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com. 

Image Credit: YTech Development

 

2024 Coconut Grove Real Estate Values | Year-Over-Year Numbers

Posted on by Michael Light

I am pleased to share with you my annual Coconut Grove statistics report highlighting that, yet again, Coconut Grove has outpaced a cooling national real estate market by setting new, all-time records across multiple categories!

Herein, I have compiled and analyzed the 2023 statistics, per MLS data, by hand-calculating the stats to ensure they are accurate for our readers. This information allows you to see for yourself the market trends in our community.

I would also like to note the reason I have been so passionate and adamant about publishing the Coconut Grove sales analytics annually for the past 10 years is that I am a Groveite through and through. I truly care about the health of our community and helping my neighbors, and future neighbors, fully understand where the Grove housing market has been and the direction it is headed.

Further, the Grove holds a dear place in my heart for an array of reasons…I met my wife in the Grove 15 years ago, we got married at St. Hugh with our reception held at the historic Villa Woodbine, I am currently the Executive Director of luxury Sales at Douglas Elliman Real Estate in our Two CocoWalk office, my wife and I have lived in Coconut Grove together for 13 years and are raising our daughter and 2 rescue dogs in our home in North Grove.

The overall market in South Florida exploded in 2021 and continued in 2022 due to an enormous influx of buyers from New York, Chicago and L.A. because of our favorable tax rates, Covid and “the way that Florida is being run” – (that last one being the most popular answer when asking buyers “why Florida?”). Then, in 2023, our neighborhood shattered all previous years. Many people believed we had truly hit the “top” of the market in 2022 and it would be impossible to continue…well, those people were wrong.

The Coconut Grove real estate market had increased year-over-year for 9 consecutive years until it exploded during the Covid bounce of 2020-2022…and then topped those numbers in 2023 by most metrics. Here are some takeaways from the 2023 numbers:

  • Number of sales dropped 22.6% over last year, but total sales volume in ALL of the Grove went up slightly to $858,164,400; because…
  • The average sales price in ALL of the Grove set another new, all-time high at $2,364,089, a 30% jump over 2022 and a whopping jump of 144.2% from $968,237 in 2019 (pre-Covid).
  • The average sales price per square foot in ALL of the Grove also set another new, all-time high at $929.79, a 14.3% jump over 2022 and a ridiculous 115.3% jump over the pre-Covid 2019 high of $431.92.
  • South Grove was the first neighborhood to EVER have both the average ($1,195.04) and median ($1,130.42) price per sq/ft over $1,100 in 2023!
  • The average sale price in NORTH Grove jumped 37.8% year-over-year, one of the highest jumps ever recorded.

Coconut Grove Real Estate – Months of Supply (February 2024)

Months of supply means how long it would take for the market to absorb all real estate, if no additional real estate came to market. This stat determines whether it is a Buyer’s Market or Seller’s Market. When looking at statistics, having a 6-month supply or less favors sellers while more than 6 months favors buyers. Any supply that is 6-9 months is considered a stable market.

Single-Family Homes: 8.5-Month Supply (Buyer’s Market)

92 Currently Available
65 Sold in Past 6 Months

Condos: 8.9-Month Supply (Buyer’s Market)

104 Currently Available
70 Sold in Past 6 Months

Townhomes: 6.5-Month Supply (Balanced Market)

24 Currently Available
22 Sold in Past 6 Months

Below, I have laid out all of the 2023 Coconut Grove real estate statistics and then a year-over-year comparison of 2023 versus 2022.

2023 Coconut Grove Real Estate Sales by the Numbers:

  • Total Number of Sales: 363
  • Total Sales Volume: $858,164,400
  • Average List Price: $2,567,773
  • Median List Price: $1,649,900
  • Average Sales Price: $2,364,089 (92.1% of List Price)
  • Median Sales Price: $1,530,000 (92.7% of List Price)
  • Average Sales Price Per SQ/FT: $929.79
  • Median Sales Price Per SQ/FT: $810.81
  • Days on Market: 71 Average / 36 Median
  • Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft)
  • Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft)

Download: 2023 ALL Coconut Grove Real Estate Sales Data

2023 vs. 2022 ALL Coconut Grove Sales Year-Over-Year Numbers:

  • Total Number of Sales: DOWN 106 (-22.6%) | 363 in 2023 vs. 469 in 2022 (800 in 2021)
  • Total Sales Volume: UP $2,393,354 (+0.3%) | $858,164,400 in 2023 vs. $855,771,046 in 2022 ($1,452,047,154 in 2021)
  • Average List Price: UP $670,891 (+35.4%) | $2,567,773 in 2023 vs. $1,896,882 in 2022 ($1,913,996 in 2021)
  • Median List Price: UP $250,900 (+17.9%) | $1,649,900 in 2023 vs. $1,399,000 in 2022 ($1,172,500 in 2021)
  • Average Sales Price: UP $539,417 (+30.0%) | $2,364,089 in 2023 vs. $1,824,672 in 2022 ($1,815,059 in 2021)
  • Median Sales Price: UP $180,000 (+22.7%) | $1,530,000 in 2023 vs. $1,350,000 in 2022 ($1,100,000 in 2021)
  • Average Sales Price Per SQ/FT: UP $176.65 (+14.3%) | $929.79 in 2023 vs. $813.28 in 2022 ($636.63 in 2021)
  • Median Sales Price Per SQ/FT: UP $155.80 (+14.5%) | $810.81 in 2023 vs. $708.44 in 2022 ($552.64 in 2021)
Coconut Grove Neighborhoods Map

Coconut Grove Neighborhoods Map

To local Groveites looking to sell, and buyers purchasing property in Coconut Grove, I have broken down the statistics of the different areas of the Grove. Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk and Mr. C Hotel are both located in Center Grove and Kennedy Park is located in North Grove).

2023 vs. 2022 NORTH Coconut Grove Sales by the Numbers:

  • Total Number of Sales: 125 in 2023 | 155 in 2022 (281 in 2021)
  • Average List Price: $3,438,991 in 2023 | $2,368,218 in 2022 ($2,080,521 in 2021)
  • Median List Price: $2,300,000 in 2023 | $1,975,000 in 2022 ($1,349,000 in 2021)
  • Average Sales Price: (+37.8%) $3,109,000 in 2023 | $2,255,965 in 2022 ($1,954,750 in 2021)
  • Median Sales Price: (+14.6%) $2,100,000 in 2023 | $1,833,000 in 2022 ($1,300,000 in 2021)
  • Average Sales Price Per SQ/FT: (+14.6%) $996.95 in 2023 | $869.96 in 2022 ($649.80 in 2021)
  • Median Sales Price Per SQ/FT: (+6.4%) $863.42 in 2023 | $811.79 in 2022 ($596.97 in 2021)
  • Days on Market: 90 Average | 54 Median in 2023 (50 Average | 30 Median in 2022)
  • Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft)
  • Lowest Priced Sale of 2023: 2539 S. Bayshore Dr. #228E Closed on 10/18/2023 @ $265,000 ($815.38 per sq/ft)

2023 vs. 2022 SOUTH Coconut Grove Sales by the Numbers:

  • Total Number of Sales: 31 in 2023 | 40 in 2022 (112 in 2021)
  • Average List Price: $5,042,430 in 2023 | $4,239,297 in 2022 ($3,792,882 in 2021)
  • Median List Price: $3,175,000 in 2023 | $3,172,500 in 2022 ($2,287,450 in 2021)
  • Average Sales Price: (+8.4%) $4,409,871 in 2023 | $4,069,500 in 2022 ($3,602,096 in 2021)
  • Median Sales Price: (+3.8%) $3,010,000 in 2023 | $2,900,000 in 2022 ($2,286,060 in 2021)
  • Average Sales Price Per SQ/FT: (+14.6%) $1,195.04 in 2023 | $1,042.48 in 2022 ($764.06 in 2021)
  • Median Sales Price Per SQ/FT: (+16.1%) $1,130.42 in 2023 | $973.45 in 2022 ($671.69 in 2021)
  • Days on Market: 126 Average | 99 Median in 2023 (40 Average | 21 Median in 2022)
  • Highest Priced Sale of 2023: 3323 Poinciana Ave. Closed on 10/19/2023 @ $18,000,000 (LAND SALE)
  • Lowest Priced Sale of 2023: 4145 Bonita Ave. Closed on 04/10/2023 @ $1,120,000 ($1,258.43)

2023 vs. 2022 CENTER Coconut Grove Sales by the Numbers:

  • Total Number of Sales: 157 in 2023 | 201 in 2022 (289 in 2021)
  • Average List Price: $1,546,931 in 2023 | $1,209,295 in 2022 ($1,239,859 in 2021)
  • Median List Price: $1,079,500 in 2023 | $850,000 in 2022 ($729,000 in 2021)
  • Average Sales Price: (+25.9%) $1,477,797 in 2023 | $1,173,432 in 2022 ($1,184,823 in 2021)
  • Median Sales Price: (+28.6%) $1,050,000 in 2023 | $816,563 in 2022 ($700,000 in 2021)
  • Average Sales Price Per SQ/FT: (+18.2%) $884.52 in 2023 | $748.28 in 2022 ($614.85 in 2021)
  • Median Sales Price Per SQ/FT: (+21.8%) $767.86 in 2023 | $630.58 in 2022 ($499.68 in 2021)
  • Days on Market: 49 Average | 20 Median in 2023 (48 Average | 18 Median in 2022)
  • Highest Priced Sale of 2023: Two Park Grove #UPH-A Closed on 07/13/2023 @ $17,500,000 ($2,526.35 per sq/ft)
  • Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft)

2023 vs. 2022 WEST Coconut Grove Sales by the Numbers:

  • Total Number of Sales: 49 in 2023 | 75 in 2022 (119 in 2021)
  • Average List Price: $2,160,277 in 2023 | $1,630,657 in 2022 ($1,384,312 in 2021)
  • Median List Price: $1,499,000 in 2023 | $1,237,562 in 2022 ($1,200,000 in 2021)
  • Average Sales Price: (+30.1%) $2,049,373 in 2023 | $1,575,181 in 2022 ($1,329,108 in 2021)
  • Median Sales Price: (+12.2%) $1,375,000 in 2023 | $1,225,000 in 2022 ($1,140,000 in 2021)
  • Average Sales Price Per SQ/FT: (+6.6%) $784.52 in 2023 | $736.28 in 2022 ($540.77 in 2021)
  • Median Sales Price Per SQ/FT: (-0.4%) $684.37 in 2023 | $686.81 in 2022 ($494.14 in 2021)
  • Days on Market: 58 Average | 40 Median in 2023 (50 Average | 31 Median in 2022)
  • Highest Priced Sale of 2023: 3258 Bird Ave. Closed on 06/30/2023 @ $16,000,000 (BULK SALE – 8 TOWNHOMES)
  • Lowest Priced Sale of 2023: 3741 Thomas Ave. Closed on 10/30/2023 @ $575,000 ($735.29 per sq/ft)

If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Light Group at Douglas Elliman Real Estate. I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market.  You may reach me directly at my CocoWalk office at 786-566-1700 or via email at michael@201813.com.

 

Looking for past Coconut Grove market statistic articles? Here they are:

2022 Coconut Grove Market Report

2021 Coconut Grove Market Report

2020 Coconut Grove Market Report

2019 Coconut Grove Market Report

2018 Coconut Grove Market Report

2017 Coconut Grove Market Report

2016 Coconut Grove Market Report

2015 Coconut Grove Market Report

2014 Coconut Grove Market Report

Disclaimer: The statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on February 28, 2024.  Any closed sales not listed in the MLS are not included in the statistics referenced herein. The MLS search criteria used was 33133 zip code + map outline + city not equal to “Coral Gables.”  The statistics separated into North, South, Center and West Grove were separated according to the map shown above and may not be accurate. In addition, the information contained herein is for informative purposes only and should not be relied upon.

Five Park On South Beach To Feature Private Dining By Michelle Bernstein And Jeffrey Chodorow

Posted on by Sarah Elles Boggs

Miami-renowned chef Michelle Bernstein and modern day renaissance man/restauranteur Jeffrey Chodorow are teaming up to bring private dining to the restaurant space in Five Park Miami Beach. The project has hinted at a signature restaurant since the official launch in the summer of 2021, and now we have details.

The Culinary Concept

The new eatery will be located on the 6th floor amenity terrace, which is convenient to both the main pool and the family pool. With an open air indoor/outdoor design, guests will enjoy vibrant Mediterranean fusion dishes in the restaurant or poolside overlooking the Biscayne Bay and Downtown Miami skyline. There are seating options for intimate and romantic celebrations or for spirited groups. For larger parties or family-style events, a separate outdoor dining area is available. The signature pedestrian bridge will connect here, allowing guests to take a leisurely stroll to South of Fifth before or after visiting the restaurant.

On the 26th floor, Five Park will also offer the exclusive Canopy Club. This is an exclusive social club for residents of Five Park Miami Beach and their guests only. The food and beverage offerings at the Canopy Club will also be curated by Bernstein, who is known for her dynamic and inspired menu offerings.

Rendering of Five Park Miami Beach Pool

Rendering of Five Park Miami Beach Pool

Rendering of Five Park Miami Beach Sky Lounge

Rendering of Five Park Miami Beach Sky Lounge

The Culinary Team

Many locals will already be familiar with Michelle Bernstein. As a Miami native, many of her restaurants are local staples and she has also earned a coveted James Beard Award for “Best Chef in the South.” She also beat Bobby Flay on Iron Chef early in her career, so she is a force to pay attention to in the kitchen.

You can currently find her dishes at the Michelin-starred Cafe la Trova in Little Havana as well as Sweet Liberty, La Cañita or Little Liberty. She is also a regular at culinary festivals throughout the county.

Jeffrey Chodorow is also well-known in the world of restaurants, getting his first taste of success in New York City with mega-establishments like China Grill and Bond Street in Hudson Yards. Although his first career successes came in New York, Chodorow is a Miami-area native.

He was raised in Miami Beach and has had an extremely colorful career. He is something of a modern-day renaissance man, starting out as the CEO of an airline before pivoting into restaurants. The culinary industry offered the opportunity for risk taking and flashy concepts, both of which excited Chodorow. If you have a penchant for drama, you can find one of his culinary adventures on the Netflix movie, “Bad Vegan.”

Although Bad Vegan ended dramatically, it demonstrated Chodorow’s eagerness for adventure and being cutting-edge. This was also just one of dozens of concepts he has helmed.

The two will be pairing up for their debut into the private dining scene that has taken off over the last year as the hot new amenity to include in new developments. The private restaurant in Five Park will be unique and cutting-edge with one of the best views the city has to offer.

Rendering of Five Park Miami Beach

Rendering of Five Park Miami Beach

Five Park Tower

Having recently topped-off at 48-stories and 519-feet, Five Park will be the tallest tower on South Beach. In addition to the panoramic views, developers Terra Group and GFO Investments have contributed a 3-acre park to the City of Miami Beach. This “Canopy Park” creates a backyard community feeling with art installations, a Monstrom Playground, pet play areas and performance pavilions.

Inside the tower at 500 Alton Road, residents will find 98 condo residences and 180 park residences. The condos are located on floors 30 to 48 with park residences being located on the mid-level floors. Select residences are available for purchase with prices from $2.7 million for a 1,357-square-foot layout with two bedrooms, tw0 and a half baths and direct bay views from each room. 

The project is slated for completion later this year.

If you are interested in a presentation of the project with special pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com.

Image Credit: Terra Group/Five Park Miami Beach
Rendering of Five Park Miami Beach Living Area

Rendering of Five Park Miami Beach Living Area

Rendering of Five Park Miami Beach Bedroom

Rendering of Five Park Miami Beach Bedroom

Rendering of Five Park Miami Beach Views

Rendering of Five Park Miami Beach Views

Rendering of Five Park Miami Beach Terrace

Rendering of Five Park Miami Beach Terrace

Rendering of Five Park Miami Beach Dining

Rendering of Five Park Miami Beach Dining

Rendering of Five Park Miami Beach Purple Lounge

Rendering of Five Park Miami Beach Purple Lounge

Four Seasons Residences in Coconut Grove | Floor Plans, Pricing & Details

Posted on by Michael Light

As we reported last week, the Four Seasons Residences in Coconut Grove is launching sales…finally. Much speculation has been swirling about height of the building, number of units, size/layouts of each unit and, most importantly, price point. Well, I have laid out most of those details, below.

***Please contact me directly for pricing & floor plans***

Four Seasons Coconut Grove Residences Building Features

  • Total of 72 private residences – 68 residences & 4 penthouses
  • 22 stories tall
  • 4 residences per floor
  • 3+ bedroom floor plans, ALL with water views
  • 2,895 – 3,974 square footage range (excluding penthouses)
  • Private secured elevators and foyers in all residences
  • 10.5′ minimum ceiling heights in all residences
  • Developed by Ugo Colombo & Fort Partners
  • All owners will receive a membership to the Surf Club Four Seasons Beach Club in Surfside, Florida
  • NO hotel component

Four Seasons Coconut Grove Residences Amenities

  • Signature Restaurant offering in-residence dining
  • Serviced pool deck
  • Premier pool and yoga
  • Spa with jacuzzi, hammam, cold plunge, aquatherapy, sensory showers and lounge area
  • Serviced lounge and bar
  • Kids’ area
  • Party room
  • Bicycle storage

Four Seasons Coconut Grove Residences Property Services

  • Appointed Director of Residences
  • Residential Concierge
  • Doorman and Bellman services
  • 24/7 Security
  • 24/7 Valet
  • 24/7 On-call emergency service/repair
  • Dedicated private arrival and valet entry
  • Although no hotel component, this development will still offer its residents the luxury lifestyle experience that Four Seasons is so globally known for

Four Seasons Coconut Grove Residences A La Cart Services

  • In-residence Dining
  • In-residence spa services
  • In-residence laundry and valet services
  • Grocery Provisioning
  • Housekeeping services
  • Butler services
  • Wellness programs and personal trainers
  • Dog grooming
  • Private catering
  • Car wash

If you want to be one of the few VIP’s to have an opportunity to own an iconic piece of the Coconut Grove skyline, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com.

Four Seasons Residences in Coconut Grove - Building Rendering

Four Seasons Residences in Coconut Grove – Building Rendering

Four Seasons Residences in Coconut Grove - Lobby Rendering

Four Seasons Residences in Coconut Grove – Lobby Rendering

Four Seasons Residences in Coconut Grove - Library Rendering

Four Seasons Residences in Coconut Grove – Library Rendering

Four Seasons Residences in Coconut Grove - Primary Bathroom Rendering

Four Seasons Residences in Coconut Grove – Primary Bathroom Rendering

Four Seasons Residences in Coconut Grove to Launch Sales Next Week

Posted on by Michael Light

UPDATE 02/25/2024: Pricing and floor plans have been released – Click Here for Details

The rumors that you all have been asking about are true…the Four Seasons Private Residences in Coconut Grove is finally going to launch sales next week!

The tower will stand 22 stories and include approximately 70 residences with NO HOTEL COMPONENT. The Four Seasons Coconut Grove will be developed by a collaboration of Ugo Columbo, who is also developing Vita at Grove Isle in Coconut Grove, and Fort Partners, the same group that brought us The Surf Club Four Seasons, in Surfside, Florida.

If you want to be one of the few VIP’s to have an opportunity to own an iconic piece of the Coconut Grove skyline, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com.

 

Site of Four Seasons Residences in Coconut Grove

Site of Four Seasons Residences in Coconut Grove

St. Regis Residences Sunny Isles Sales And Construction Update

Posted on by Sarah Elles Boggs

The last time we checked in with the St. Regis Residences in Sunny Isles, the developers were breaking ground on the development and releasing the timelines for the twin-tower development. As we enter the Spring of 2024, Cheateaû Group and Fortune International are prepared to open sales of the second tower.

Groundbreaking

When they broke ground with a lavish ceremony and celebration in August of 2023, the development announced that the first tower had sold 75% of its 170 residences with prices starting at $3 million. Demonstrating the strength of their confidence in the project, construction commenced on both towers despite the fact that sales in the second tower had not even been released yet.

Developers typically build multi-tower projects in phases as the residences are placed into contract. It is not uncommon for these residences to be constructed even years apart as the sales timelines allow. The sales at St. Regis Sunny Isles have proven to be so brisk that the developers have opted to begin construction on the entire project at once, so that buyers can realize the entire development at once.

“It’s significantly more attractive to have both towers going up at the same time and delivering close to each other,” the developer told The Real Deal.

Rendering of The St. Regis Residences Sunny Isles North Tower Terrace

Rendering of The St. Regis Residences Sunny Isles North Tower Terrace

St. Regis Sunny Isles North Tower Debut

It has been a busy season for the super-luxury development as 80% of the 170 residences in the South Tower have been sold, including the $55 Million upper penthouse. This has prompted the developer to begin offering the final tower as demand has remained high.

Listening to market feedback over these last months, the floor plans of the North Tower residences are larger without sacrificing the level of security, privacy, service and luxury that buyers of the St. Regis Residences have come to recognize. Floor plans range from 1,800 square-foot plans with two bedrooms up to 5,500 square-foot plans with as many as 5 bedrooms.

Prices begin at $4.5 Million up to $15 Million for the North Tower residences.

The St. Regis Residences Sunny Isles North Tower Infinity Pool

The St. Regis Residences Sunny Isles North Tower Infinity Pool

St. Regis Sunny Isles Amenities

Being situated on a sprawling beachfront location, owners at the St. Regis Residences Sunny Isles will enjoy a draw-dropping 435-foot fully-serviced private beach.

Those residents who prefer swimming pools will enjoy three ocean-facing pools with cabanas and lounge areas as well as an infinity-edge sunset pool. Facing the ocean, residents will have the choice of a tower pool, a beachfront club members pool as well as a family-friendly area that adds a splash pad.

The 5-acre development also boasts a host of amenities for those with active lifestyles. The fitness club features both pickleball and padel courts, yoga, pilates, weights, spinning and virtual fitness classes in the indoor/outdoor facility that maximizes any weather we may encounter.

For a relaxation kick, the spa concierge handles reservations for massages, beauty salon/barber services as well as a host of spa treatments.

When you are feeling social, there will also be an area of the 5-acre development that caters to your group. There are dedicated lounges for adults, teens and smaller children. Adults will enjoy several lounges that include the Ellipse Club that adds a cognac room, wine bar and gaming.

In total, there are over 70,000 square feet within the amenity levels. They are designed by São Paulo-based Anastassiadis and exclusively managed by the St. Regis Hotel Company.

Although the tower bears the St. Regis name and services, there is no on-site hotel. This is a residential-only location in order to add to the exclusivity of the project.

Rendering of The St. Regis Residences Sunny Isles North Tower Dining Lounge

Rendering of The St. Regis Residences Sunny Isles North Tower Dining Lounge

When completed in early 2027, the 62-floor development will reach 817 feet above the Sunny Isles Beach and bring 336 ultra-luxury residences to the exclusive enclave of South Florida. At 750-feet, the towers will be among the tallest on the beachfront strip.

“The St. Regis brand is rooted in superior service and The St. Regis Residences, Sunny Isles Beach will execute this lifestyle effortlessly, with every detail carefully considered,” said Manuel Grosskopf, CEO of Château Group. “With infinite 360-degree views, this extraordinary oceanfront site is stunning from entrance to pinnacle. With a dramatic two-story lobby entrance to extensive amenities including a jaw-dropping infinity pool, the magic of the St. Regis brand is evident throughout the property.”

If you are interested in a private presentation of the project, with specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@201813.com.

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