Monthly Archives: January 2017

Trump National Doral Miami reportedly settles bed bug case

Trump National Doral Miami. Inset: a bed bug and Donald Trump

Court records show President Donald Trump’s lawyers in Miami have reached a tentative settlement with the business traveler whose bed bug wounds were reportedly so severe that he sued the Trump National Doral Miami golf resort.

Welts allegedly covered the man’s back, face, and arms after spending the night at the recently renovated resort.

A one-page report in the court documents filed by court-appointed mediator Frank Allocca states simply, “an agreement was reached.” No further details were reported, according to GossipExtra.

The New Jersey insurance executive Eric Linder, 63, whose March 2016 stay at the resort’s $300-a-night Jack Nicklaus-themed villa resulted in an express-care clinic visit, filed suit in late July.

Photos of his back and neck accompanied the filings. He also chose to leave behind several business suits at the Trump resort, for fear of harboring the bugs upon his return home, GossipExtra reported.

“I was deceived by Trump’s image,” Linder told the Miami Herald earlier this year. “It’s a 5-star resort where this shouldn’t happen. It was really traumatic.”

Neither Linder, nor lawyers from either side returned calls for comments, GossipExtra reported. [GossipExtra] — Gabrielle Paluch

Source:: The Real Deal

PriceSmart pays $46M for Flagler Station development site

Flagler Station land. Inset: PriceSmart CEO Jose Luis Laparte

PriceSmart, a publicly traded warehouse chain and operator of membership warehouse clubs, paid $45.56 million for the site of its new Medley facility.

Records show Section 31 Holdings LLC, an affiliate of Florida East Coast Industries subsidiary Flagler Global Logistics, sold 18.6 acres at 11255 Northwest 106th Street. PriceSmart financed the deal with a $35.7 million loan from Union Bank.

Flagler Global Logistics is the developer behind Flagler Station, the three-phase industrial park at 10800 Northwest 100th Street. PriceSmart contracted Flagler to build a 330,000-square-foot facility at Flagler Station III in late July, and announced it would keep 100,000 square feet at Flagler Station II for refrigerated and frozen space.

The warehouse chain, the largest operator of such clubs in Central America and the Caribbean, hired Transwestern to sublease the remaining 260,000 square feet for $8.25 per square foot.

The last phase of Flagler Station will be the Class A distribution center with a planned delivery date of the second quarter of next year. Freight company Gap Forwarding also leased space at Flagler Station III.

Source:: The Real Deal

French investors buy New Hotel and Lou’s Beer Garden in North Beach

The New Hotel, with Laurent Ben Soussan on left and Thierry Sportich on right

A French investment group just bought the New Hotel and Lou’s Beer Garden in North Beach, with plans to upgrade the historic property and rename the restaurant and bar, The Real Deal has learned.

The buyer, 83 Invests LLC, led by Thierry Sportich and Laurent Ben Soussan, paid $2.4 million for the 10-unit hotel built in 1937, as well as the restaurant/bar. The price equates to $320 per square foot for the 7,500-square-foot lot or $515 per square foot for the 4,662-square-foot building.

The seller was Oscar and Me Inc., led by Ann Castellano and Illych “Lou” Ramirez of Miami Beach. Records show the couple paid $700,000 for the property at 7337 Harding Avenue in 2007.

Sportich and Ben Soussan’s Marseilles, France-based real estate group owns shopping centers and multifamily projects in France, and more recently has been active in North Beach, attorney Melissa Groisman, partner Rosenthal Rosenthal Rasco, who represents them, told TRD.

Melissa Groisman

“They represent a large group of investors from Marseilles and have been purchasing property in Miami Beach, multifamily for the most part,” she said, “and this is their first hotel venture.”

Brigitte Benichay of Rich Homes of Florida represented both sides of the deal.

“In France, it has become more difficult to develop real estate because of political bureaucracy, inflation, depreciation of the currency,” Groisman said, so they have started additional operations in Florida. In North Beach, they have focused on buying small garden-style apartment buildings, upgrading them, raising the rent and then holding them, she said.

Ben Soussan, who visited New Hotel on Tuesday, told TRD that the group will continue to keep the hotel open, with plans to renovate it in the future.

In the meantime, Lou’s Beer Garden will re-open the weekend after next as a new restaurant and bar called Blue Beer Garden or B.B.G., which is being developed with culinary partner Jean-Philippe Bernard of Villa Azur Restaurant and Lounge in South Beach, Ben Soussan said.

The 40-seat outdoor restaurant will be similar to bars and restaurants in South Beach, like the Broken Shaker, he said. The restaurant’s menu and staff training will be overseen Chef Fred Joulin of Semilla Eatery & Bar in Miami Beach.

Ben Soussan said he has faith in North Beach. “In five or 10 years it will be a good place for tourists, for people living here…. It’s a good chance to change the face of North Beach.”

Miami Beach commissioners have enacted various new measures as part of an effort to revitalize North Beach. Last year commissioners agreed to raise height limits along 71st Street and parts of 72nd Street to allow new buildings for a “town center.” They also approved a short-term rental district along Harding Avenue that will allow many small, older, economically unviable MiMo buildings to be preserved. Other major infrastructure projects in the works include the complete renovation of North Shore Park along the ocean and building a new skate park across from the North Shore Band Shell.

Source:: The Real Deal

Sunsations sells South Beach retail building to New York investor for $7M

919 Collins Avenue. Inset: broker Susan Gale

Ocean City, Maryland-based Sunsations sold a retail building on Collins Avenue in South Beach to a Staten Island-based investor for $7.1 million.

The beachwear company, a tenant of the building, sold the property at 919 Collins Avenue for less than $1,000 a foot. Silver Hill One LLC, controlled by investor Kathleen Rampaul, is the buyer. The LLC put down more than 50 percent in cash and financed the balance with a local bank, One Commercial agent Susan Gale told The Real Deal.

Gale represented the buyer and seller. The 7,941-square-foot building was listed for $7.7 million for slightly less than six months before it closed.

Sunsations has about two years left on its nearly 3,000-square-foot lease, and the remaining two tenants, Mango’s Tropical Cafe and Artisan Coffee have about five years left on their leases – renewals included. Mango’s uses the 4,206-square-foot space for office and storage, and Artisan Coffee takes up 746 square feet, according to marketing materials. They are all triple-net leases.

The three-story building was built in 1924. Records show S&P Properties, an affiliate of Sunsations, bought the property out of foreclosure in 2010 for $1.1 million, built an addition and renovated the building. It sits on a 7,000-square-foot lot that’s zoned MXE, short for mixed-use entertainment, which Gale said is “the most liberal zoning on all of South Beach.” It could eventually be developed into a five-story project.

“It was a deal that made financial sense,” she told TRD. “Prices are going between $1,000 and $1,500 per square foot on Collins Avenue. I think they’re too high. There’s properties on Collins that have been on the market for years and they haven’t sold.”

Earlier this month, a New York company paid $12.5 million, or $964 per square foot, for the 13,000-square-foot Charming Charlie building nearby at 735 Collins Avenue. At an even higher price, the Club Monaco building at 624 Collins Avenue sold for more than $2,800 per square foot in September of last year.

Gale said a correction is coming for retail in South Beach, but that the market is still very hot. “What I think stands out about this is it’s a moneymaker. Very few properties on South Beach have a good return,” she said. “This had over a 7 percent return.”

Source:: The Real Deal

Pair of retail leases signed for Centro in downtown Miami

Centro’s 37-story tower (Credit: Newgard Development Group)

Jon Smith Subs, a Palm Beach County-based sandwich chain that touts “bigger portions” and “better subs,” and Bellamia, the global Italian gelato franchise, have both signed leases at $75 per square foot to occupy spaces on the ground floor of Centro.

The deals are among the highest retail rents in downtown Miami, according to Newgard Development group, the developers behind the newly built 37-floor mixed-use project.

Landlord Gil Blutrich of the Israel-based publicly-traded Mishorim Development Group, along with local partner Shai Ben Ami of Sterling Equity Realty, represented themselves in the lease negotiations, according to a release. Blutrich and Ben Ami bought the 4,350 square-foot ground floor at 151 Southeast First Street from Newgard Development group in August 2016 for $615 per square foot, in a deal totaling $2.65 million.

Shai Ben Ami and Gil Blutrich

“With rising demand for Centro, we are diverting tenants to other downtown retail sites,” Ben Ami said in a statement, “there is tremendous interest in our remaining 2,150-square-foot prime corner space.” Ben Ami has negotiated several deals in Miami’s urban core involving high-profile Israeli businessmen, such as Moishe Mana’s acquisitions on East Flagler Street.

Because of zoning rules which allow developments without parking if they are located near mass transit, Newgard was able to build the condo tower without parking, which reduced costs. Unit prices range from the mid $300,000 to the $500,000, and the developer began turning over units to owners in late July.

Mishorim owns property in Israel, Canada, and in the U.S., where it owns, among other properties, the Hyatt Regency in Cleveland.

The leases mark the first Miami-Dade County location for Jon Smith Subs, with 1,200 square feet, an is an expansion for Bellamia’s, which has taken 1,000 square feet, and has 44 worldwide locations. Bellamia also has stores under development in Wynwood, Westfield Mall, and on Ocean Drive in Miami Beach, according to the release. — Gabrielle Paluch

Source:: The Real Deal

Owner of Pine Tree Drive manse wants to flip it for $23M

4395 Pine Tree Drive. Inset: Jill Hertzberg and Jill Eber

The owner of a recently completed spec home in Miami Beach is looking to flip the property after about a year for $22.95 million.

The Pine Tree Irrevocable Trust, controlled by Lisa A. Schneider, paid $19.48 million for the 11,500-square-foot mansion at 4395 Pine Tree Drive in December 2015, a record price for the high-end street. Schneider leads the trust and estates practice at Gunster. She declined to comment on owner’s identity.

Now, the Jills of Coldwell Banker are listing the eight-bedroom home, which was developed by Todd Glaser and Jarrett and Sean Posner. Jill Hertzberg and Jill Eber declined to comment on the owner’s identity, saying only that “they made a decision to move.”

The house, designed by Domo Design, sits on a nearly 1-acre lot and has 100 feet of water frontage. The property features a wood deck, tropical garden and pool, boat dock, and a driveway and motor court with space for about 15 cars. Completed in 2015, the home also has a gourmet kitchen with marble countertops and a walnut butcher block table, a media room, and Creston smart home features.

“Originally, Pine Tree Drive was the golden place to be,” Hertzberg said, referring to the nearly acre-sized waterfront lots between 41st Street and 49th Street.

Hertzberg said the owners wanted to price it to sell it. The Pine Tree Drive home is priced slightly higher than what the developers were asking in 2015. The current $22.95 million listing price breaks down to about nearly $2,000 per square foot.

Source:: The Real Deal

New condo development proposed for Singer Island

Rendering of Singer Island Gateway. (Credit: Singer Island Gateway LLC)

Singer Island may soon get its third new condominium development in recent years.

The Riviera Beach City Planning and Zoning Board last week reviewed a proposed plan for a condo tower to be named the Singer Island Gateway, along the Intracoastal Waterway.

The 259,800-square-foot, eight-story project is planned for a 1.86-acre site at 2525 and 2429 Lake Drive, the South Florida Business Journal reported. It would have 135 mostly one- and two-bedroom units, a pool and amenity deck, as well as a renovated 16-slip marina that would be available for public lease. The project’s architect is Torti Gallas and Partners, and the project’s developer is Singer Island Gateway LLC, a company managed by Palm Beach resident and dentist Richard J. Lazzara.

The plans must now proceed to the Community Redevelopment Agency and city council, according to Jeff Gagnon, Riviera Beach Assistant Director of Community Development.

The property was acquired out of foreclosure in 2013, according to the developer’s application, and contains an old condo building damaged by hurricanes in 2004, according to the South Florida Business Journal. The application estimates construction cost at $55 million, and the eventual annual real estate taxes to the city at $600,000 to $650,000.

Other similar new condo-developments on the island include VistaBlue Singer Island broke ground in late 2015 and Harbor Point, which is in pre-construction. Both of those projects are on the beach. [South Florida Business Journal] – Gabrielle Paluch

Source:: The Real Deal

Miami Beach agreement with Bakehouse Brasserie over Sunday brunch music has critics crying foul

Bakehouse Brasserie. Inset: Menin Hospitality’s Jared Galbut and Keith Menin

The music is back on at the Bakehouse Brasserie in Miami Beach’s hip South-of-Fifth neighborhood.

Just over two weeks ago the Bakehouse, at 808 First Street, was cited by the city of Miami Beach for having a jazz saxophonist play at it’s weekend brunch on Saturdays and Sundays. They said the music violated an ordinance in the mixed-use district that bans restaurants from playing anything but piano or stringed instruments “that does not interfere with normal conversation.”

The Bakehouse sued, saying the ordinance “constitutes an unreasonable restraint on protected speech or other expression protected by the First Amendment to the United States Constitution, including the production of reasonable sound.”

On Friday, Miami Beach city commissioners received a letter from city attorney Raul Aguila informing them that the city had reached a temporary agreement with the Bakehouse, that the restaurant would waive its potential claim for damages and costs associated with litigation in exchange for allowing the jazz saxophonist to play during the Sunday brunch “at a level that does not interview with normal conversation.”

But in his letter, Aguila also told commissioners the city will fight attempts by the Bakehouse to overturn the ordinance in court, saying the city had moved the case to federal court.

The Bakehouse is the latest venture from Menin Hospitality led by Jared Galbut and Keith Menin, scion’s of two of Miami Beach’s leading real estate and hospitality industry families. Since it opened in November, the 87-seat restaurant has been a popular addition to Miami Beach’s South-of-Fifth neighborhood.

Attorney Ron Lowy of Lowy & Cook, who is representing the Bakehouse, told The Real Deal that even though the city has reached a temporary agreement to allow jazz music to be played at the Bakehouse, his clients feel their constitutional rights have been violated and they want the courts to ultimately decide the matter.

“The Bakehouse may decide a month from now or three months from now that the saxophone player has been wonderful but they may choose to bring in a harmonica player, and we don’t want to have to start all over again,” said Lowy who added that there’s no reason why the lazz saxophonist can’t also play on Saturday.

“The city agreed to Sunday; they made no agreement as to any other day. Now that doesn’t mean that we can’t perform on other days, it just mean that the city has acquiesced to Sunday and they will do what they think is right as far as Saturday is concerned and we will react accordingly,” he said.

Frank Del Vecchio, a resident of the area and a long time civic activist, is a strong critic of the agreement, calling it an attempt to “muzzle city commissioners and keep the public in the dark.”

“Since city commissioners basically have a gag order from the city attorney not to discuss what’s happened, they are not in a position to inform the public or express what’s happening and what they think about it,” Del Vecchio told TRD.

Del Vecchio also said that he also doesn’t think the Bakehouse will prevail in the federal court system “There is a whole succession of zoning cases which hold that districts can be zoned to zone out uses which are incompatible with the district, and in our case, since we have a predominantly residential district, the city has the power to prohibit entertainment.”

Source:: The Real Deal

Trump heading to Mar-a-Lago this weekend

Mar-a-Lago and Donald Trump

UPDATED Jan. 30, 4:55 p.m.: As chaos ensues at major airports following President Donald Trump’s travel ban, the new POTUS is apparently making weekend plans to visit his sunny Palm Beach home.

The trip will mark his first to Mar-a-Lago since his inauguration Jan. 20.

The Federal Aviation Administration issued a notice of flight restrictions for the area for the coming weekend, the Palm Beach Daily News reported.

According to the notice, posted to the FAA website, Trump will arrive at his Mar-a-Lago Club on Friday and depart on Monday. Trump is expected to attend the annual Red Cross Ball being held at Mar-a-Lago on Saturday night.

Already, more than 600 protesters have pledged to march across the Southern Boulevard Bridge during the ball to protest the Red Cross having its event there, according to the protest’s Facebook page March to Mar-a-Lago for Humanity, the Palm Beach Daily News reported.

Palm Beach County officials expressed concern last week that flight restrictions for a Trump visit would hurt the area, as the Secret Service will in effect call for a shutdown of the local Lantana airport, according to the Palm Beach Daily News. The general aviation airport — listed as one of the 10 busiest in the country — sits within 10-nautical miles of Mar-a-Lago, making it subject to strict flight controls.

The flight restrictions will be tighter than those that were in effect when Trump visited while president-elect. There now will be a 1-mile “no-fly” zone over Mar-a-Lago. That will force commercial flights arriving and taking off from Palm Beach International Airport to angle themselves north or south to fly away from the estate.

A Coast Guard advisory for the waters surrounding Mar-a-Lago has not yet been announced. In past visits, the Coast Guard has restricted access to both the Intracoastal and Atlantic Ocean adjacent to the property, posting patrols in both waterways.

Protests were held at airports across the United States over the weekend following Trump’s executive order on Friday that temporarily bans entry into the United States for migrants from seven Muslim-majority countries and refugees from all over the world. [PalmBeachDailyNews] — Ina Cordle

Source:: The Real Deal

Codina sells out second condo tower in Downtown Doral for $88M

Rendering of 5300 Paseo. Inset: Armando and Ana Codina

Codina Partners has sold out 5300 Paseo, the second condo tower in Codina’s Downtown Doral mixed-use development, for $88 million.

The 219-unit building sold to a majority of buyers from Venezuelan, Colombian and South Florida, Oswaldo Betancourt, executive vice president of construction and development at Codina Partners, told The Real Deal. The developer completed 5252 Paseo, a 203-unit 20-story tower at Downtown Doral, about a year ago.

Betancourt said most buyers at 5300 Paseo were looking for second homes. He said that because of the project’s charter school, “we leave a portion of the building at the end to try to push local buyers.” Those require only 20 percent deposits, pending bank approval. Fortune International Realty handled sales for the building, which was completed in October.

Overall, the $1 billion, 250-acre master-planned community will include a city hall, charter school, townhomes and eventually, eight condo towers. When completed, Downtown Doral will have a total of 70 retail stores and restaurants; more than 1 million square feet of commercial space; 400,000 square feet of Class A office space and 2,840 residential units.

Codina will break ground on a 231-unit apartment tower and the second, 52,000-square-foot phase of retail at the beginning of April, Betancourt told TRD. A 50,000-square-foot Publix is also underway, and Betancourt said it’s also likely that a public library will be incorporated into community.

Sieger Suarez Architects designed 5300 Paseo and 5252 Paseo. Amenities at 5300 Paseo include a gym, yoga and aerobics studeo, sauna and treatment areas, social room, playroom and meeting room, an infinity pool and resort-style pool deck.

Next in the pipeline is 5350 Park, which is about 50 percent sold. Codina will break ground on that tower sometime during the second quarter of this year and complete it about 18 months from then. Interest at 5350 Park is coming from Ecuador, Bolivia and Peru, Betancourt said.

Other big-name developers like the Related Group, Shoma Homes and Sergio Pino are all building large, mixed-use projects in Doral.

Source:: The Real Deal