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1 Hotel South Beach
The 1 Hotel South Beach has been sold for $610 million to Host Hotels & Resort, according to the SFBJ. The seller was Starwood Capital Group and the LeFrak Family.
Location at 2341 Collins Avenue, the 1 Hotel South Beach has 429 rooms, but does purchases doesn’t include the 155 condos.
Starwood Capital Group purchased the hotel in 2012 for 100.3 million and renovated it at a cost of $300 million.
Miami's Omni District
TBT (February 2, 2015) - Four years ago, the Miami Herald had an article about the revival of Miami’s Omni District, now rebranded the Arts & Entertainment District. Previously, the area was run down with vacant lots and was even used as a set for the movie Rock of Ages featuring Tom Cruise. Fast forward four years and the area now has the completed Square Station, Canvas Condo, the under construction Art Plaza and Miami Plaza with more future development on the way.
After many purchases of vacant land in Miami's Omni District, the area looks to be heading towards a rebirth, according to the Miami Herald.
The neighborhood is located just North of Downtown, but South of Wynwood, Midtown and the Design District. Recent purchases in the area include 1400 Biscayne (Auberge Residences & Spa), Melo Group's land at NE 14th St & NE 1st Ave, and a $64 million transaction just South of the Miami Cemetery.
Land prices were around $60 a square foot five years ago have increased to $390 a square foot, but developers believe condos can be cheaper than Downtown, Brickell and Edgewater.
Perricone's Marketplace And Cafe
After 22 years, Perricone's Marketplace And Cafe is closing its Brickell location today. The restaurant will be demolished, after being sold for $16 million, to make way for a 19 story CitizenM Hotel with 252 hotel rooms.
Perricone's Restaurant and Gourmet Market will open at 1700 SW 3rd Ave in April that will have over 5,000 square feet of space.
Panorama Tower In Brickell
TBT (February 27, 2015) - 4 years ago, the tallest building in Miami - Panorama Tower was just starting to go vertical with two cranes installed at the site. The building would top off in April 2017 at 868 feet with incredible 360 views of all of Miami. Panorama Tower would eventually open in May 2018.
Since starting construction and pouring the foundation at Panorama Tower, the building is slowly making its way above ground level.
Two cranes have been added to the site at 1101 Brickell Bay Drive.
South Tower At ParkLine Towers
The South Tower At ParkLine Towers at MiamiCentral has topped off at 33 stories. The North Tower topped off in September 2018 at 30 stories.
Both towers will have a total of 816 rental units and is expected to be completed by this year.
Previous construction photos of the ParkLine Towers can be viewed here.
Aston Martin Residences in Downtown Miami
Two cranes have been installed at the Aston Martin Residences site in Downtown Miami as the 66 story luxury condo is about to go vertical.
The onsite sales center was completed June 2017 and foundation work began November 2017.
With 390 residential units, the Aston Martin Residences is expected to be completed in 2021.
Monad Terrace Topped Off
The under construction Monad Terrace in Miami Beach has topped off with one tower at 7 stories and the second tower at 14 stories. In March 2018, construction was just beginning on the site.
With only 59 residential units, the Jean Nouvel designed Monad Terrace is being developed by JDS Development Group.
Construction is expected to be completed third quarter 2019.
Previous construction photos of Monad Terrace can be viewed here.
