Brom Inmobiliaro, a real estate company that got its start in Mexico, just closed its $13 million purchase of a Hallandale Beach development site being eyed for a new office tower.
County records show a Brom affiliate picked up four parcels along Southeast 10th Street and at 1010 South Federal Highway, which straddles the line between Aventura and Hallandale Beach.
The contiguous parcels total about 1.74 acres and include two vacant lots, a preschool, parking lot and a basketball court
The sellers are a pair of companies name I & A Miami LLC and Star Holdings Management, which list their managing members as Aharon Vaknin and Raphael Ammar, respectively. They paid a combined $4 million, or $52 per square foot, to assemble the parcels between 2005 and 2006.
Star and I & A filed an application with Hallandale Beach in January to build Optima Plaza North, a new 28-story office tower with 269,556 square feet of space, a ground-floor bank location and 1,013 parking spaces.
Directly to the south, Brom Inmobiliaro has already built Optima Plaza South, a long eight-story building with 346,161 square feet located at 21550 Biscayne Boulevard.
According to its website, Brom Inmobiliaro was founded in Mexico City in 1972 and has since expanded its reach to South Florida. The firm has developed 10 condominium projects in Mexico, and currently has 970,000 square feet of office space under management.
Optima Plaza South was its most recent project outside of Mexico.
Related Group has started pre-construction sales of condos at the Auberge Residences & Spa Miami at lower prices than many rival condominium developments. Auberge Miami is a 60-story, 290-unit building that Related plans to build at 1400 Biscayne Boulevard in Miami, near the Adrienne Arsht Performing Arts Center.
It is the initial phase of a three-tower project that would have 1,430 units and 13,280 square feet of retail space. Carlos Rosso, president of Related’s condo division, said the company is selling Auberge Miami units at an average price of $575 per square foot. Many condo developments in downtown Miami are selling at unit prices exceeding $700 per square foot.
“We weren’t planning on launching this job, but we had partners that said, ‘We don’t mind making a little less profit for the lower price. We want to get closer to getting the [construction] loan,” Rosso said. “It was a unique situation.”
He also said the first five days of sales produced 50 unit reservations, and Related needs reservations for 60 percent of the units, or 174 of them, to obtain construction financing and break ground. Related requires a 50 percent deposit to reserve a unit at Auberge Miami, 10 percent initially and the rest in stages as the development advances. Units at Arquitectonica-designed Auberge Miami range in size from 515 square feet to 1,964 square feet.
“Gran Paraiso and SLS LUX are suffering because we are going out at a great price on this project [Auberge Miami]. But we are fine with that because at those other jobs we already have met our pre-sales,” Rosso said. “Now if you sell condos, it has to be at an attractive price.”
Property records revealed Friday the price of a Massachusetts-based company’s hotel acquisition in Pompano Beach: $24.8 million. In September, the Claremont Companies acquired the Residence Inn by Marriott for an unknown amount and began managing the property, which has a litigious history dating back to 2002.
At the time of the sale, $21.5 million in financing for the deal was issued by U.S. National Bank. The newly released price breaks down to $281,818 per room. The beachfront hotel, at 1350 North Ocean Boulevard, has 88 hotel rooms, a wedding chapel, two swimming pools, an on-site restaurant and 2,500 square feet of conference space.
Its largest amenity is a 20,000 square foot fitness and spa facility. It was once an independent condo-hotel called the Spa Atlantis Ocean Resort, where investors purchased units and leased them back to the management, which would then rent them out to guests. But a 2003 federal lawsuit alleged the management, Spa Atlantis LLC and Chai Development LLC, stiffed the owners for their payments.
The suit was eventually dismissed in 2005: it’s unknown what agreement the two parties reached, but Chai sold off all the units in bulk to a Minnesota company that same year. Mercury Investment, the property’s new owner, re-branded the condo-hotel as Ocean Sands Spa & Resort Residences, and later brought on Concord Hospitality Enterprises and Aztec Group as partners in 2009.
Then in 2010, the hotel underwent its final re-branding as the Residence Inn by Marriott Pompano Beach/Oceanfront, under which it operates today.
The apartments, to be called Towpath Trail, are expected to be ready for occupancy by the first quarter of 2018, said Seth Meltzer, principal of Hudson Partners Development.
The name was inspired by the bike path near the property that, at certain points, was the towpath for the Erie Canal.
Rents for the 800-square-foot to 950-square-foot units will range from $1,000 to $1,200.
"We're bullish on the city of Schenectady multi-family demand, especially in light of the Rivers Casino and Resort," said Meltzer.
The casino is about 1.5 miles away, off Erie Boulevard.
The property where the apartments will be built is the same area where a previous townhouse development, Maxon Pointe, failed.
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Mill Street Offices is a very desirable office property located on Mill Street and just north of Diehl Road. Diehl Road is a main east-west artery that parallels I-88. The Property boasts easy access to I-88 via Winfield Road to the west and Naper Boulevard to the east, providing an easy commute from the Property.
The building features a recently renovated common area lobby, quality office finishes and easy access to surrounding area amenities. The Property exemplifies high tenant retention. Mill Street Offices can accommodate small to mid-sized companies currently leased to nine tenants with only two remaining move-in ready vacant suites.
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Colliers International is pleased to present the opportunity to occupy a sublease in the Pompano Business Park, a ±119,000 SF industrial warehouse building in Pompano Beach. 1520 NW 5th Court is located in the city of Pompano Beach, immediately west of Interstate 95, just south of Atlantic Boulevard, with easy access to the Florida’s Turnpike.
FEATURES
Retail Building and Vacant Land Available
Located in the Upper Eastside emerging neighborhood surrounded by the Arts & Entertainment District, Midtown, Wynwood and world renowned Design District. In the heart of the Biscayne Boulevard Historic District, MiMo with direct access to all the expressways and the beaches.
This eight-story luxury condominium offers the ultimate in privacy in an upscale environment with only one hundred and five exclusive residences. The featured floor plans include one, two, three and four bedrooms layouts with den and Family room options as well as exclusive penthouses
with private rooftop terraces. Boulevard 57 will boast an extensive array of social amenities including an infinity edge pool with cabanas, Jacuzzi, grill and bar, state-of-the-art fitness center and Residents Lounge. Smart automated home system and integrated digital concierge services available to all residents.
Property Features
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Is located on 1.8 acres of Oceanfront on Fort Lauderdale Beach. It enjoys close proximity to Las Olas Boulevard with its many shops and restaurants, as well as the Broward Center for the Performing Arts, and the Fort Lauderdale International Airport. Both the Four Seasons Residences and Private Residences enjoy a full site of Four Seasons Legendary Services and a host of Five-Star amenities. All Residences have panoramic ocean and Intracoastal Waterway views from their outdoor terraces and expansive living spaces as imagined by noted architect Kobi Karp.
Features of the property will include separate hotel and residential lobbies, as well as dedicated hotel guest and resident swim- ming pools. Additional amenities will include poolside cabanas, pool deck with ocean views, valet parking, Four Seasons spa, fitness center, children’s club, ballroom, business center and meeting facilities. Food and beverage offerings will include a destination restaurant with interior and alfresco seating, an all-day restaurant on the pool deck, bar and lounge, and a cafe´ with indoor and outdoor seating, nestled in a landscaped garden.
Design of the Four Seasons Hotel and Residences is a thoughtful collaboration of hand-chosen international talent. British designer Tara Bernerd’s signature aesthetic of texture and color will create a welcoming sense of warmth and atmosphere within the hotel and Four Seasons Residences. The Four Seasons culinary experience will be transformed under the design approach of international interior designer and architect Martin Brudnizki. Martin’s distinctive and unique approach to design will welcome guests to an inviting experience in the restaurants and lounges, continuing outdoors to the terrace space, done in collaboration with locally famed landscape architect Fernando Wong. Expanding beyond the terraces, Fernando envisions lush, tropical landscapes that envelope the pool deck and property.
THE FIRST AND ONLY LUXURY BOUTIQUE TOWER IN EAST EDGEWATER
Rising directly from the shores of Biscayne Bay in the wonderful emerging neighborhood of East Edgewater, Elysee Miami sets a new standard for refined luxury with its masterful confluence of design, luxury and waterfront location. At 57 stories, Elysee is tall and impressive, but with only 100 residences -- no more than two per floor – Elysee maintains the intimacy and sophistication of living in a boutique-style building. Each residence has the unique distinction of having an unobstructed, breathtaking view of Biscayne Bay.
World-renowned architect Bernardo Fort-Brescia, of Arquitectonica, has designed Elysee to be instantly recognizable yet discreet. This is not an ordinary residential tower. From its three-tiered telescoping shape and alluringly light tones to the fine materials used to construct it, Elysee is an exquisite tribute to the power of design to lift the soul. Inside, France’s top interior designer, Jean-Louis Deniot, introduces his rich signature style. At once timeless, elegant and entirely fresh, Deniot’s vision brings a new level of fine living to Miami.
NEIGHBORHOOD
Elysee Miami is located in the fast-growing neighborhood of East Edgewater. East of Biscayne Boulevard and between the Venetian and Julia Tuttle Causeways, East Edgewater is at the “center of it all”. No other neighborhood can claim adjacency to more of Miami’s best districts. Miami Design District, Wynwood Arts District, Miami Beach, Midtown and Downtown Miami neighborhoods are all within easy reach providing the top destinations for luxury shopping, high-end dining, sports activities and world-class arts, culture and entertainment.