No Comments

Oldest Public Building In Miami Beach Gets New Life

Carl Fisher Clubhouse 1170x435

Miami Beach’s oldest surviving public building, most recently called the Miami Beach Municipal Golf Course Clubhouse, has been restored as the Carl Fisher Clubhouse along with an adjoining annex building as part of the Miami Beach Convention Center complex.

The clubhouse, opened originally in 1916, and the annex, opened in 1937, have been restored as a single entity by R.J. Heisenbottle Architects and now host a restaurant and meeting space.

Under the management of Spectra Venue Management, the 5,000-square-foot clubhouse offers public parking and public transportation accessibility on Washington Avenue. The new Rum Room restaurant and Venu meeting space opened this year in the restored structures.

The clubhouse was constructed in 1916 for flamboyant promoter Carl Fisher, the developer of Miami Beach, and was designed by August Geiger, a prolific Miami architect. Records from the time say “the clubhouse was designed in an eclectic revival style with Spanish and Dutch Colonial elements.”

The City of Miami Beach brought in the Heisenbottle firm in 2016 to restore the clubhouse after years of neglect. In 2018, the city approved clubhouse renovations for more than $3.2 million.

“It’s a great historic building in Miami Beach that can continue to be enjoyed by generations to come thanks to its new use,” Mr. Heisenbottle said in a written release.

That use is Venu, which the Heisenbottle firm describes as “a newly renovated space for elegant private events and upscale meetings” in the clubhouse and the Rum Room, in the annex building, “a 1920s restaurant with an enticing tapas-style menu and local South Florida rums.”

 

Source:  Miami Today

No Comments

Construction Permit In Process For 289-Unit Wynwood Urby, Contractor Named

The Wynwood Urby Apartment and Retail Project Planned At 60 N.E. 27th St., Miami 1170x435

The permit was applied for in May, with the full plans filed on June 27 and now in review.

The hard construction cost is estimated on the permit at $69,800,000. Beauchamp Construction is listed as the contractor.

The project was first reviewed by the Wynwood Design Review Committee in April 2022.

A total demolition permit to clear the site was applied for last July. Then in August, a utilities deal for water and sewer was signed.

Wynwood Urby is planned to include:

  • 289 apartments
  • 8,000 square feet of full service restaurant
  • 9,200 square feet of retail
  • 1,450 square feet of office
  • 193 parking spaces

Urby is a joint venture between David Barry and Brookfield Properties.

Amsterdam’s Concrete is the design architect, with 5G Studio the architect of record.

 

Source:  Next Miami

1 Comment

Longtime Wynwood Developer Proposes New Office Project

w3_photo credit The Next Miami 600x225

A developer has proposed a skinny, 8-story office building on a small lot in the Wynwood neighborhood of Miami.

BLP153 LLC, managed by Jared Brunnabend of Bayshore Investment Partners in Miami, owned the property but the application was filed by Miami-based Lombardi Properties. David Lombardi is one of the earliest developers who helped transform Wynwood into a popular spot for dining, retail, apartments and, increasingly, office.

The vacant property was acquired for $2.5 million in October.

The Doris would total 20,419 square feet, with 1,218 square feet of commercial space on the ground floor and 19,201 square feet of office space on the seven floors above it. Each office floor would total about 3,994 square feet and have an outdoor terrace. There would also be a roof terrace.

The building would have no on-site parking, as the developer would pay into the Wynwood Parking Fund that is used to fund parking improvements in the neighborhood.

 

Source:  SFBJ

No Comments

Newmark Arranges $91 Million Financing Of Kushner Companies, Block Capital Group’s Wynwood 27 & 28

Newmark announced it has arranged a $91 million loan on behalf of Kushner Companies and Block Capital Group for the refinancing of Wynwood 27 & 28. The property is on NW 27th Street (adjacent to NW 2nd Ave) in Miami’s highly trendy Wynwood submarket.

The Newmark team was led by Jordan Roeschlaub and Dustin Stolly, Co-Presidents of Debt & Structured Finance, along with Executive Managing Directors Christopher Kramer and Nick Scribani, as well as Senior Managing Director Danny Matz from the Miami office, who provided regional support on the transaction. Valley National Bank and Israel Discount Bank provided the loan.

The project commenced construction in Q4 2021 and recently obtained its certificate of occupancy. At completion, the development will deliver 52,000 square feet of commercial office space, 33,000 square feet of ground-floor retail, 152 residential units and parking for 232 vehicles. Wynwood 27 & 28 rivals any asset in the area regarding product quality, build construct, design appeal and offering diversity. The property has been creatively designed and constructed with a modern style driven by smart, leading-edge amenities, including a full-scale garage, high-energy retail with innovative cuisine and fashion-driven qualities, spacious mid-rise apartments, modern open floor office configurations and outdoor terrace availability.

Wynwood 27 & 28 are surrounded by a diverse package of public amenities and attractions at the center of Wynwood – directly adjacent to the famous Design District and proximate to all major Miami destinations and minutes from primary beaches, Edgewater, Brickell, Downtown and Miami International Airport. The site location is highly advantageous, on a desirable plot seamlessly becoming an instant focal point of the popular submarket. Wynwood has emerged as a cultural epicenter, offering the trendiest locales and destinations for the new-era urban consumer.

 

No Comments

Recertification Voting Continues For Miami’s Wynwood Business Improvement District

After approval by the City of Miami Commission, starting Apr. 14, the Wynwood Business Improvement District (BID) has been up for a recertification vote by all property owners within its boundaries.

The Wynwood BID, which began in July 2013, is the largest one of its kind in Florida, covering a 50-city-block neighborhood that has experienced an exciting transformation, taking it from an abandoned industrial zone to a bustling arts and nightlife destination.

More recently, Wynwood has become a desirable location for new office and residential developments, and now, major new hotels from the world-renowned Arlo brand and the soon-to-be-launched Moxy by Marriot.

For three weeks, all 400-plus property owners within the BID’s boundaries have been asked to sign affidavits supporting its renewal, which the BID will then collect and count. To proceed with the recertification process, more than 50 percent of the votes, plus one, must be in favor. Once the three-week voting period has concluded, all affidavits will be forwarded to the City of Miami Commission and Mayor Francis Suarez for review and final approval.

“We are excited to collect votes from our area property owners to recertify the BID,” said Manny Gonzalez, long-time executive director of the Wynwood Business Improvement District. “The district has entered a new phase, with the ongoing expansion of residential and office capacity that did not exist previously. Our goal is to have another successful decade of embracing change like urban planning and landscape design while also working to maintain Wynwood’s place as an appealing cultural destination and creative center.”

BIDs function as special tax districts that allow for an additional assessment to support initiatives and programs that governments cannot fully cover. In addition to Wynwood, they have been successful locally in places such as Miami Beach, Coconut Grove and Coral Gables, and other major cities like New York.

In partnership with area businesses, owners, developers and residents, working with the City of Miami, the Wynwood BID has been a significant catalyst in the neighborhood’s growth, improving quality of life, and in ongoing synergies between new investors, and existing businesses and cultural venues.

During the past decade, Wynwood has experienced an exponential increase in visitors, with the number rising from 240 thousand in 2013 to 15 million annually in 2023. Today, Wynwood supports 5,000 new jobs and generates more than 20 percent of the City of Miami’s parking transactions.

In partnership with the City of Miami Planning Department and Plusurbia, the Wynwood BID developed Miami’s first Neighborhood Revitalization District (NRD) plan to maintain the neighborhood’s distinctive street art and industrial feel, while encouraging a 24-hour community for live, work and play lifestyles.

The BID has accomplished significant successes through its partnership with the City of Miami Police Department, resulting in a 60 percent reduction in crime. Additionally, the BID has made a substantial contribution of $3.5 million towards Wynwood Works, a program aimed at developing 5,000 micro units of affordable housing and invested $1 million towards office development in the area.

The BID also has created a Clean Team to remove trash and debris daily to maintain a clean and attractive neighborhood. These notable achievements have garnered national recognition for the BID in the past decade, with awards such as being one of the greatest neighborhoods in America and being recognized for its Economic Development Planning by the American Planning Association (APA).

In the arts, Wynwood continues to thrive and be the home of the iconic Wynwood Walls, Museum of Graffiti, Margulies Collection, Mana Wynwood, Gary Nader Art Centre, the recently opened Paradox Museum, and many more.

The neighborhood remains a center for over 3,000 units of unique retail, restaurant and nightlife businesses, including Zak the Baker, Oasis Wynwood, 1-800-Lucky, Gramps and UNKNWN. Annual special events such as Miami Art Week, Miami Music Week and Wynwood Pride fill the community with pedestrian traffic and excitement.

Major developments in the area include the recently opened Arlo Wynwood hotel and The Dorsey, as well as upcoming projects such as The NoMad Residences, 29N Wynwood, 545 Wyn and The Wynwood Plaza.

Additionally, the neighborhood is experiencing growth in mixed-use residential and office spaces with developments including Strata Wynwood, WYND 27 & 28, Society WynwoodSentral Wynwood and The Gateway at Wynwood. Currently, there is 600,000 square feet of commercial retail space under construction as Wynwood continues to evolve.

Companies committing to office space in Wynwood include Founders Fund, Spotify, Technology SA and Pricewaterhouse Coopers.

The BID supports its City of Miami partners and surrounding communities by running numerous safety and cleanliness initiatives, including state-of-the-art interactive outdoor digital kiosks, neighborhood-wide security cameras and a dedicated Clean Street Team.

“Wynwood property owners and businesses believe in the wisdom of investing in infrastructure enhancements, safety initiatives, forward-thinking planning and destination branding that are key to the BID’s work,” Gonzalez concluded.

For more information, visit wynwoodMiami.com.

 

Source:  Community News

No Comments

Electrical Union Looks To Rezone Its Allapattah HQ For New Mixed-Use Development

A union representing electrical workers could rezone its headquarters in Miami’s Allapattah neighborhood to set up a mixed-use development.

The city’s Planning, Zoning and Appeals Board was scheduled to consider the application from the Brotherhood of Electrical Workers, part of International Brotherhood of Electrical Workers Local No. 349, on April 19. It concerns the 1.83-acre site at 1544, 1649 and 1650 N.W. 16th Terrace; 1657, 1601 and 1667 N.W. 17th Ave.; and 1700 N.W. 15th Street Road.

The IBEW has owned the property since 1948. The main structure there is a 27,144-square-foot building that houses its union hall and apprenticeship school.

The union wants to change the zoning from “T6-8-O” and “high-density residential” to “T6-12-O” and “restricted commercial.” The density would be 150 units per acre, which would equate to 275 units on a site of this size.

In the application, the IBEW stated it wants to redevelop the property with a newly designed union hall and apprenticeships schools, plus professional offices, convention spaces, affordable/senior living and workforce residential units.

This would follow the trend of nonprofit organizations and religious groups in Miami capitalizing on long-held property with redevelopment as property values in the city soar.

 

Source:  SFBJ

No Comments

The Dorsey Mixed-Use Project Gets $165M Refi

Berkadia has arranged a $165 million loan to refinance the construction loan for The Dorsey, a recently completed, mixed-use development located in Miami’s Wynwood neighborhood.

The 306-unit property was co-developed by Related Group, LNDMRK, and Tricera Capital. Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.

The lender, MF1 Capital, delivered a quick and certain closing despite recent market volatility and provided the 30-month, interest-only loan to take out the existing construction financing.

“Despite the macro headwinds, lender confidence remains high for those projects of the highest quality,” said Jon Paul Perez, President of Related Group. “In the case of The Dorsey, we had several factors working in our favor: namely an unmatched location in the world’s most desirable neighborhood, gorgeous designs and a development team that’s second to none.”

Located on the corner of NW 29 Street and NW 3rd Avenue, The Dorsey is at the epicenter of the Wynwood neighborhood. The property features 73,000 square feet of office space, and 36,000 square feet of ground floor retail. The office portion is fully leased to Schonfeld Strategic Advisors, a New York-based hedge fund making The Dorsey their second headquarters, and Industrious, a leading coworking provider with over 160 locations globally.

The Dorsey also includes 306 luxury apartments, with floor plans ranging from 450 to 1,600 square feet. Residents will enjoy a highly curated set of on-site amenities, like a fitness center with a spin and yoga room, a first-class pet spa, a resort-style rooftop pool, an outdoor courtyard, and more. The development also boasts a collection of world-class art displayed across all common areas.

“The Dorsey is the premier mixed-use development in one of the most desirable 24-hour submarkets in the nation,” said Wadler. “The Property’s strong lease-up velocity and best-in-class features and finishes led to significant lender interest in the refinance.”

The Dorsey’s modern mixed-use design blends with Wynwood’s walkable, urban neighborhood. The project’s impactful integration into the neighborhood has already brought accolades as it was named the Multifamily Development of the Year for South Florida at the 2023 CoStar Impact Awards.

 

No Comments

One-Acre Office Building Dev Site In Aventura Trades For $10 Million

MG3 Group bought a development site in Aventura in a bet on the city’s growth as an office market.

MG3 paid $10 million for the assemblage at 21001 Biscayne Boulevard near Aventura Hospital, according to records and real estate database Vizzda. The firm plans to include medical office space in its project.

The deal breaks down to $9.5 million per acre.

Selling entity Jewish Outreach Center is tied to the Aventura Chabad based in the building immediately east of the purchased site. It had paid $781,800 for the land and other lots in 2019, records show.

No Comments

Tricera Capital, Related Group Announce Schonfeld Strategic Advisors Lease Expansion At Wynwood’s The Dorsey

Tricera Capital, the Miami-based commercial real estate firm led by Ben Mandell, Alex Karakhanian’s LNDMRK Development and market leader Related Group finalized a lease expansion with New York-based hedge fund Schonfeld Strategic Advisors at the partnership’s Dorsey in the Wynwood neighborhood.

Schonfeld is doubling its office space at the Dorsey, adding a second floor to its previous lease at the mixed-use development. The lease expansion brings the Dorsey’s office component to 100-percent occupancy.

The roughly 18,000-square-foot lease expansion brings Schonfeld’s total Dorsey footprint to about 37,000 square feet. Terms of the lease were not disclosed.

“This is a testament to the quality of not only the Dorsey, but the Wynwood neighborhood as a whole,” Related President Jon Paul Perez said. “Firms like these can go anywhere in South Florida, but Wynwood is at the top of every list. The neighborhood has truly hit its stride and we look forward to continuing to drive its thoughtful growth.”

Tricera, LNDMRK and Related teamed up to develop the Dorsey, with renowned Arquitectonica designing the project. The property includes more than 300 apartments, 78,000 square feet of office, 33,000 square feet of retail and ample parking and open space.

“This is another example of high-profile financial firms showing their commitment to the Miami office market, with Wynwood remaining especially attractive to these firms,” Tricera President/Head of Leasing Dustin Ballard said. “The pandemic-era corporate migration to South Florida continues to take shape, as our region’s office sector keeps outperforming other major U.S. metropolitan areas. Relocation demand is still incredibly high as we begin 2023.”

Randy Abend and Paul Mas of JLL’s New York office and Matthew Goodman, formerly with JLL’s Miami office, represented Schonfeld in the Dorsey lease, while Cameron Tallon, Emily Brais, Eric Groffman and Randy Carballo of CBRE represented ownership.

 

© 2023 FIP Commercial. All rights reserved. | Site Designed by CRE-sources, Inc.