Conrad Hotel Brickell Sells For $72M

July 14, 2017 in Brickell, Brickell Avenue, Hotel, Mast Capital, Miami, Real Estate

Conrad Hotel Brickell in the Brickell Arch

The Conrad Hotel in the building Brickell Arch has sold for $72 million, according to The Miami Herald and was purchased by Mast Capital.

The Conrad Hotel with 203 guest rooms, is located at 1395 Brickell Avenue and is within the building Brickell Arch, which sold for $142 million in September 2015 to Dallas based Gaedeke Group. The hotel has been listed for sale since July 2015 and was expected to sell for over $100 million at the time.

Originally called Banco Espiritu Santo, the 36 story building was completed in 2004 and designed by Kohn Peterson Fox Associates. The building is known for its 30 story arch on the front façade of the glass.

Mast Capital is planning on renovating the lobby, pool, restaurant and guest rooms.

Melo Group Purchases Downtown Miami Lot For $10M

July 13, 2017 in Downtown Miami, Melo Group, Miami, Real Estate

Melo Group has purchased a 45,433 square foot lot located at 501 North Miami Avenue for $10 million, according to The Real Deal.

The lot was sold by the First Baptist Church and as part of the deal, Melo Group must build a 300 space parking garage for the Christ Fellowship Baptist Church.

Zoning allows for an 80 story building to 1,131 feet with up to 1,043 residential units.

The Northern 35,992 square foot part of the lot was sold for $18.1 million in March to Okan Group with plans to build a mixed use building.

Demolition Underway At 3480 Main Highway

July 12, 2017 in Arquitectonica, Coconut Grove, Demolition, Miami, Office Building

Demolition has started on two buildings located at 3480 Main Highway in Coconut Grove.

The two buildings being demolished were built in 1937 and 2010. Plans are to build a five story class A office building with a rooftop restaurant. The site is located next to the abandoned Coconut Grove Playhouse.

The properties were purchased by Optimum Development USA in 2014 for $8.5 million. Optimum Development USA also purchased the Starlite Motel in Brickell for $25 million in 2014.

Brickell Flatiron Reaches 10th Floor

July 11, 2017 in Brickell Flatiron, Brickell, CMC Group Inc., Condo, Construction, Golden Dusk Photography, Miami

When we last looked at Brickell Flatiron in May, construction reached the 6th floor. Construction has now reached the 10th floor and will rise 65 stories over Brickell.

Brickell Flatiron started going vertical in February of this year and groundbreaking starting March 2016.

Previous construction photos of Brickell Flatiron can be viewed here.

June 2017 Construction Progress Video

Demolition Begins At Bayside Motor Inn

July 10, 2017 in Demolition, Hotel, Miami, Office Building, Bayside Motor Inn

Demolition has begun at 5101 Biscayne Boulevard at the Bayside Motor Inn.

Developed by Mattoni Group and Avra Jain, the redeveloped Bayside Motor Inn will have a new three story building on the North part of the site at 18,994 square feet with ground floor retail and offices on the top two floors. The South part of the hotel will be renovated and restored to be used as a restaurant. The designs were done by Urban Robot Associates.

Built in 1952, the Bayside Motor Inn was purchased for $4,050,000 million in June 2016 by Bayside 5101 LLC.

The Miami Historic and Environmental Preservation Board approved of the plans in February 2017.