Development is on the rise in North Bay Village, a small town in Miami’s Biscayne Bay.
At a town commission meeting earlier this month, a joint venture between the Pérez family’s Related Group and Harry Macklowe Properties secured approval for their planned two-tower luxury condo development.
The Harbor Island project will include two 498-foot, 43-story waterfront buildings at 8000 East Drive and 7946 East Drive. The partnership will return to the commission for a final vote. The developers’ assemblage of this site was complicated, and Macklowe’s involvement was shrouded in mystery, but Related is now taking the lead.
Nearby, investors Christian and Brooke Torres recently acquired a 15-unit condo building at 7939 East Drive. The Torreses initiated a foreclosure against the sellers in May. Could they sell the property to Related or another developer? I think so.
At the same meeting, Masoud Shojaee (married to new “Real Housewives of Miami” cast member Stephanie Shojaee) received an extension for his company’s Shoma Bay condo tower, a delayed project rumored to have an uncertain future. Masoud reinforced his commitment to completing the project. He received an extra month to secure a master building permit for the tower, which will include a Publix grocery store.
The two developments are part of a wave of new construction that will eventually transform North Bay Village into another luxury hub, though the town is working to ensure that developers include public spaces and invest in an affordable housing fund.
Andy Ansin, of the billionaire Ansin family that owns WSVN Channel 7, has been working on plans for his giant, phased project that includes land north and south of the 79th Street Causeway, which bisects the town. North Bay Village is even getting its own car-branded condo: Mikael Hamaoui’s Riviera Horizons plans a 28-story, 70-unit Pagani Residences, the first ever condo development for the Italian hypercar maker.
The Eichner family’s Continuum Company also has grand plans for North Bay Village. Continuum, which owns the former Shuckers (now Palm Tree Club) will eventually redevelop the site into more than 500 condos, 200 hotel rooms and a marina. Keep an eye out for my profile on Allie Eichner, who has played a key role in the company’s North Bay Village approvals, in our next magazine.
What we’re thinking about: How has Trump’s immigration crackdown affected the workforce at big projects? Send me a note, or an anonymous tip, at [email protected].
CLOSING TIME
Residential: Massimo Musa sold the 17,100-square-foot mansion at 2325 South Ocean Boulevard in Delray Beach to a trust linked to Eugene and Olga Nonko for $51.1 million.
Commercial: Grant Cardone closed on his acquisition of 101 Via Mizner in Boca Raton for $235 million via a bankruptcy court’s ruling. Cardone’s Aventura-based Cardone Capital bought the apartment building through a joint venture with the existing owner, Penn-Florida Companies.
— Research by Mary Diduch
NEW TO THE MARKET
A five-bedroom, six-and-a-half-bathroom condo at Fendi Château Residences in Surfside hit the market for $32.5 million. The 6,726-square-foot unit at 9349 Collins Avenue also has an 1,885-square-foot wraparound terrace. Unit 1101 is listed with Jon Mann, of Coldwell Banker’s The Jills Zeder Group. Property records show a company tied to Jose Roberto Chimenti Auriemo of Brazil paid nearly $9 million for the condo in 2016, the year the oceanfront tower was completed.
A thing we’ve learned
Each bed at the migrant detention center Alligator Alcatraz is expected to cost about $245 a day, according to the Miami Herald. That’s roughly the same price as a one-night stay at the InterContinental Hotel in downtown Miami in the off-season. Gov. Ron DeSantis’ administration has already committed $200 million to private contractors, of the estimated $450 million cost.
Elsewhere in Florida
- Visit Florida, a public-private partnership that promotes tourism, approved Gov. Ron DeSantis’ pick Bryan Griffin to become the state’s chief tourism official, replacing Dana Young, according to the Tallahassee Democrat.
- Rodney Barreto, chair of the Florida Fish and Wildlife Conservation Commission, the state agency that investigates fatal boat crashes, asked his executive director if officers messed up when they failed to test commercial real estate broker George Pino in the fatal 2022 boat crash, the Miami Herald reports. “Roger, we need to understand if we missed anything in this investigation,” Barreto said in his email “The [Herald] article makes it sound like we dropped the ball. I’m not passing judgment. I was told that a lot of witnesses didn’t want to cooperate.”
Roy Black, one of the top criminal defense attorneys in the country, died last weekend at the age of 80. Black, of the Miami law firm Black Srebnick, represented clients who included William Kennedy Smith and Jeffrey Epstein, according to the New York Times’ obituary.
