By Emily Christensen

57 OCEAN MIAMI BEACH

Take yourself on a virtual reality tour of 57 Ocean Miami Beach’s dreamy penthouse.  Potential buyers can seemingly walk down the halls of this $38 million glamorous penthouse through the power of video.  This state-of-the-art footage captures the 7,800-square-foot five-bedroom, six-bathroom home with a personal guided tour that showcases the luxurious life-style of this lush penthouse is a spacious, sunlit living area while outside is fashioned with a 360-degree view of the ocean, pearl-white beach and vibrant city—the dazzling details are endless.  On the terrace, residents can enjoy an ultimate relaxation zone by taking a dip in the pool, indulging in an outdoor massage or host a candlelit dinner at sunset.  The penthouse is located on Miami Beach’s historic Millionaire’s Row and is the perfect living space for high-society gatherings, lavish lunches and private pool parties.  Sales gallery: 5775 Collins Ave., Miami Beach, @57ocean

“This $38 million penthouse is truly the jewel in the crown of Millionaire’s Row.  There is nothing like it on the market in the area, and we are thrilled to be innovatively showcasing it virtually to the world for the first time.  The home’s connection to the ocean is unparalleled- as is its private, resortlike feel in the epicenter of this tranquil, family friendly neighborhood.”

-EDGARDO DEFORTUNA, PRESIDENT AND CEO OF FORTUNE INTERNATIONAL GROUP, THE EXCLUSIVE BROKER OF 57 OCEAN

To read the full “Space: SURREAL ESTATE” article, as featured in the March 2021 issue of Ocean Drive, click here.

By Brian Bandell

South Florida’s wealthy condo buyers are demanding more space, and this dramatic departure from past trends is shaking up projects across the region.

Buyers, mostly from high-tax states in the Northeast and California, have surpassed foreign purchasers as the primary source for condo sales during the Covid-19 pandemic. As people move down with their families, and often work from home, they increasingly seek more than one or two bedrooms. However, the local supply of three-bedroom condo units and apartments in new buildings is limited, as the prior trend was to build smaller units.

“We definitely had a shortage of larger inventory [condos] because, as Miami, Palm Beach and Broward have attracted more affluent people, there was more of a demand for luxurious, larger inventory,” said Alicia Cervera Lamadrid, managing partner of Miami-based Cervera Real Estate. “They are thinking of spending more time in Miami and moving here permanently.”

If developers are able to attract more of these high earners into their buildings, it could mean a big spending boost in the surrounding neighborhoods. Full-time residents tend to spend more time in town, and more money on services, than part-time international owners. Service businesses in many of South Florida’s biggest condo markets, downtowns and the beaches, have been hurt especially hard by the drop in customers during the pandemic, so attracting more families could provide them with a much-needed lift.

Condo developers also benefit as the once-sluggish condo market is now red hot, and they can charge significantly higher prices for the larger spaces.

When Miami-based Shoma Group broke ground on its Ten30 South Beach condominium in March 2020, the project was slated for 43 units, each with one or two bedrooms. Shoma CEO Masoud Shojaee found many buyers were people relocating from the Northeast and California seeking bigger units, so he started combining the spaces to create townhouses and penthouses. Three units were converted into a three-bedroom condo.

When the dust settles, Ten30 South Beach will have about 25 units, Shojaee said. The prices for a two- or three-bedroom penthouse are $1.4 million and $1.9 million, respectively.

“They want bigger spaces to create an office, a bar and a wine cooler,” he said. “It’s not so much the mentality of a second home here anymore. They are thinking of moving permanently. This will be a primary residence, so they want a bigger space to entertain their friends.”

Many people from the Northeast are used to condo living, but it’s impossible for working families to hold two Zoom calls in the same room, so the solution is more space, said Arden Karson, managing principal of Miami-based real estate consulting firm Karson & Co. Many developers are talking to her about larger units, or creating flexible spaces that are easy to expand.

“The way we developers are looking at projects is changing,” Karson said. “You can get premiums now for having more bedrooms. That’s both on the rental side, as well as the condo sales side.”

Buyers think bigger The strong demand from out-of-state buyers and the low inventory of single-family homes in South Florida is unprecedented, said C

CrossCountry Mortgage VP Matt Weaver, who works in Boca Raton and has been in the industry for 21 years. With so few single-family homes to choose from, buyers are increasingly looking to condos, but smaller units won’t cut it.

“It’s not simple to come down to Palm Beach or Broward and find condos that will support a family of four,” Weaver said. “Most were constructed for secondary residences. These developers weren’t forecasting a family of four with younger children coming down in this quantity.”

Three-bedroom condo units at Solemar in Pompano Beach are virtually flying off the shelves, while sales of two-bedroom condos are lagging, said Patrick Campbell, executive VP at the Related Group, which is developing the oceanfront project. The Covid-19 pandemic delayed the main sales launch to September, but the project is already 40% presold. In several cases, buyers combined neighboring units to create 4,000- to 5,000-square-foot condos.

“It’s usually the opposite of that because people try to get a home on the ocean for the lowest price possible,” Campbell said. “People are leaving big homes in other states and creating homes, instead of vacation places.”

When designing new condominiums in South Florida, the Related Group will use flexible floor plans so it’s easier to combine units, he added.

November through January have been the best sales months at Turnberry Ocean Residences in Sunny Isles Beach, primarily because of buyers from the winter-stricken Northeast, said Jim Cohen, president of Fontainebleau Development. The larger units in the recently completed tower are selling faster than the smaller ones, and they’ve even combined some units to create duplex-style condos.

A similar trend occurred at Fontainebleau Development’s SeaGlass Jupiter Island project, where the larger condos were the first to be presold, Cohen said.“In our SeaGlass project, in two recent sales, the clients came out of 20,000- or 30,000-square-foot homes,” he said. “They still demand a large space. They are just tired of upkeep for the home. They are downsizing, but still buying 6,000 to 8,000 square feet.”

Fontainebleau Development is strongly considering more luxury projects in South Florida, as the demand for larger units will continue and few projects are under construction now, Cohen added.

Coming out of the Great Recession, South Florida condo developers built smaller units priced at under $1 million to attract Latin American investors, who would mostly rent them out, Fortune International Group President and CEO Edgardo Defortuna said. That’s why there were few three-bedroom condos in that development cycle.

“All of a sudden, three- and four-bedroom units are in more demand,” Defortuna said. “The full-time resident, or at least a resident who will spend a significant amount of time here, will need more space. And they need more space because children might study at home, and the head of the household may need extra space for an office.”

Supersizing condos

Defortuna said he’s looked at increasing the sizes of condos in his future projects along the beach to accommodate people moving to South Florida. Projects with units that were previously 2,000 to 4,500 square feet are now about 4,400 to 5,000 square feet. He’s already combined some units at 57 Ocean in Miami Beach, which Fortune International represents, to create a four-bedroom “sky residences” – home-size condos on an upper floor.

“The numbers look better if you do that,” Defortuna said. “The price is more expensive per unit, but the total dollars are better [for the developer] on larger units than by dividing it into three.”

The only question Defortuna has before launching a condo with larger units is whether people primed to move here can wait three or four years for a project to be completed. Many are racing to hit the South Florida sand now.

When creating larger condos, developers don’t need to build huge amenity centers because residents already have space for hosting friends in their units, said John Farina, CEO of New Jersey-based U.S. Construction, which is building the Ocean Delray and 1625 Ocean boutique condo projects in Delray Beach. He focuses on a fitness center, spa and pool.

Beachfront condos aren’t necessarily competing with smaller condos, but with single-family homes in the same neighborhood. A 3,300-square-foot unit at Ocean Delray priced at about $5 million might sound expensive at first, but consider a relatively new oceanfront home in Delray Beach would cost well over $10 million.

“In certain markets, you really have a shortage of this type of product,” Farina said.

Group P6 Managing Partner Ignacio Diaz, who is building Royal Palm Residences in Boca Raton, said he wouldn’t build a condo unit smaller than 2,000 square feet in a luxury project because buyers want more space. Since the Covid-19 pandemic, interest in his project spiked and all the buyers intend to live there, he said.

“It’s not feasible anymore, the investor model with smaller units,” Diaz said. “That model will slowly disappear.”

In Aston Martin Residences in Miami, which Cervera Lamadrid represents, there has been more interest in larger units and some buyers have combined condos for more space as construction continues. While larger inventory is selling faster, there’s still a market in Miami for smaller units that are more affordable, she said.

“The new construction will either skew smaller than the typical two-bedroom units, or go larger,” Cervera Lamadrid said. “Developers are thinking of both bookends, but less in the middle.”

Read the full post here.

By Shivani Vora

Call it pro-gramming.

When Chuck Roberts was looking for a new waterfront home on Miami Beach, he had no shortage of amenity-loaded luxury buildings to pick from. But one building left the 52-year-old finance worker star stuck.

Former NFLer Troy Aikman, golfer Greg Norman and French soccer player and World Cup-winner Blaise Matuidi are just a few of the top athletes who were touching down at 57 Ocean, an 18-story new construction tower, located on Miami Beach.

It’s all part of the condo building’s celebrity athlete program which, at no additional cost, hooks up residents with pro players for meals and to play sports.

Although 57 Ocean doesn’t officially open until September, the program is already in full swing for those in contract on one of its units, which range in price from $1.5 to $38 million.

Marcelo Kingston, a managing partner at Multiplan, the building’s developer, added that the VIP events will happen regularly, “which could be small meet-and-greets, games or one-on-one sessions.”

Roberts loved the perk so much that he bought a penthouse unit.

Read the full post here.

Inter Miami CF star and World Cup champion Blaise Matuidi celebrated his Haute Living Miami cover with Ulysse Nardin at 57 Ocean.

By Laura Schreffler

The Saturday event began with a lovely cocktail reception, where 57 Ocean Developer Marcelo Kingston greeted guests and welcomed Blaise to Miami.

This was followed by a soccer demonstration on the beach, where the French MLS player played alongside two ‘next generation’ players, Francisco Raggio and Edison Azcona.

Custom soccer balls were on hand from Inter Miami CF artist, Alexander Mijares, adorned with the logos of event partners Ulysse Nardin, Haute Living and 57 Ocean; they served as collector’s pieces from event.

Blaise, who is a fan of Ulysse Nardin and wears his Freak X Gold every day, appears on Haute Living’s Miami cover proudly wearing the new brand’s daring Blast Tourbillon.

Blaise then led a procession from the beach to the second floor of 57 Ocean for a second cocktail reception, which then opened to a French-themed brunch from Inedit Gourmet, both outdoor, with hand sanitizers from eOn Mist liberally dotting each surface to ensure the safety of each guest.

Menu items included cured red salmon tartare with fennel vichyssoise; Croque Madame and poached egg, served with hollandaise sauce; lamb chops, grilled and served with aged mustard sauce and roasted potatoes with rosemary and garlic; and a classic caramel flan for dessert.

Team artwork from Alexander Mijares was then presented to Blaise by Haute Living‘s CEO, Kamal Hotchandani and Vice President, April Irene Donelson.

Team artwork from Alexander Mijares was then presented to Blaise by Haute Living‘s CEO, Kamal Hotchandani and Vice President, April Irene Donelson. All guests — including Francois-Xavier Hotier, President Ulysse Nardin Americas and Kering Luxury Watches shared services; Severine Chalet, Marketing and Communications Director Ulysse Nardin Americas; North Bay Village Commissioner Julianna Strout; and Inter Miami CF player Rodolfo Pizarro; Haute Living‘s Seth Semilof; Brad Cutler, CEO of The Cut; Jacob Rey of The Cut; Luciana and Marcelo Kingston of 57 Ocean; John Utendahl, Executive Vice Chairman, Investment Banking for Bank of America Merrill Lynch; John’s fiancée Radmilla Lolly, opera singer, fashion designer and Haute Living Miami ambassador, received gift bags with Ulysse Nardin plush beach/bath towels, hats and candles.

Blaise, who spent time graciously greeting each guest, had one last treat in store: a surprise appearance from his childhood hero, NBA legend Scottie Pippen, who arrived at the event after Hotchandani learned of how much Matuidi admired him.

All in all, it was a warm, safe and very Miami welcome to the Magic City.

Read the full post here.

By Veronica Beltran

We have entered a new reality in the real estate industry: videos sell. Multiplan Real Estate Asset Management, the developer behind 57 Ocean, located on Miami Beach’s historic Millionaire’s Row, got the buzz last year by shipping a pair of Oculus glasses to a potential buyer in California. Buyer who, without having to travel to see the residence in person, ended up buying it for a million dollars, something never seen before. 

Now, Multiplan Real Estate Asset Management is betting big on the power of video, debuting 57 Ocean’s spectacular penthouse in a $ 180,000 video featuring the latest technology that fuses reality with the virtual world.

The video was produced by DBOX, an internationally awarded creative agency. The 90-second video – 1,100 hours of work – showcases this $ 38 million masterpiece as a bright, airy oasis in the sky. The video most realistically captures the property’s best attributes, which include a 360-degree view of the ocean, white beaches and the vibrant city from the 7,100-square-foot terraces, along with the airy, sunny and spacious areas. of the home, each designed to maximize a fluid connection to the outdoors, designed by Sofia Joelsson of SofiaJoelsson Design.

By watching the video, buyers can simulate walking the hallways of this 7,800-square-foot home with five bedrooms, plus private areas, and six full bathrooms, through a personal guided tour that shows the lifestyle and unique moments that exemplify what daily life is like in the penthouse, such as soaking in the ethereal shades of blue of the sky and sea from the private pool, or entering a state of total relaxation with a massage surrounded by the gentle sea breeze and the sound of the waves. Shoppers partake in a candlelit dinner surrounded by the most spectacular hues of the sunset and experience first-hand what it’s like to host under a star-studded sky in their social area without having to, physically, set foot in the penthouse.

“Currently we are all living in a virtual world. The pandemic has had a profound effect on the psyche of shoppers, impacting their ability and willingness to travel. Just as supermarkets are facing a new reality with Instacart, and art fairs and boat shows are happening online, real estate is also experiencing a moment of transformation, ”says Marcelo Kingston, Managing Partner of Multiplan Real Estate Asset Management . “We have created a virtual desire to live on top of 57 Ocean, and we believe that only a video can truly embody that living in the greatest luxury has no limits.”

As one of the most anticipated projects to enter the global property market, 57 Ocean, to be completed in 2021, is hailed for its designs by Arquitectonica and interior architect Patricia Anastassiadis, as well as for its holistic amenities inspired by the ocean. With health and wellness in mind, the building’s proximity to the water along with all its health benefits, coupled with Miami Beach’s Beach Walk, make it an attractive backyard.

Inside the penthouse, the main room will boast a spacious entertainment room with a gourmet chef’s kitchen and a sculptural wine cellar overlooking the ocean. It will also feature a “behind-the-scenes” kitchen for special culinary events, and a seating area that will connect indoor and outdoor spaces. The master bedroom will feature his and hers walk-in closets and a unique bathroom with a shower and floating bathtub overlooking the ocean. Beyond the master suite, there will be a special spa area, comprised of plunge pools, a massage area, and an outdoor sauna for relaxation and extended therapies. An ideal space for fitness lovers, the home will have a private gym, as well as an ideal area to practice golf shots. Entertaining guests in the penthouse will be a dream thanks to a clubroom area complete with a pool table, antique bar, and a comfortable home theater. In addition to all of the above, the residence will include a private oceanfront office, a fully-equipped summer kitchen, an art gallery wall, and an infinity pool.

“This $ 38 million penthouse is truly the jewel in the crown of Millionaire’s Row,” says Edgardo Defortuna, president and CEO of Fortune International Group, 57 Ocean’s exclusive broker. “There is nothing like it on the market in the area and we are excited to be able to innovate, introducing the world to the world for the first time in a virtual way. The home’s connection to the ocean is unmatched, and neither is the private resort feel at the epicenter of this quiet, family-friendly neighborhood. ”

57 Ocean is the brainchild of Dr. José Isaac Peres, the founder of Multiplan Real Estate Asset Management and one of the world’s most acclaimed developers. The condo will feature two- to four-bedroom residences, starting at a price of $ 1.5 million and ranging in size from 1,200 to 3,600 square feet, as well as 18 Sky Residences (prices available by inquiry.) These homes will feature large terraces, each one 12 feet deep, as well as contemporary Italian kitchens and baths by Poliform. Five-star amenities will include a holistic spa by One Ocean Beauty and skincare products from its line with marine ingredients, a wellness pavilion with a thermal suite and a meditation area, along with treatment cabanas, a fitness center with the latest technology equipment from MyIsle training from MyEquilibria and a fitness center from Technogym. It will also have an activity area for children, 24-hour concierge services, shops and waiters in front of the beach, direct access to theMiami Beach Beach Walk and more. Fortune Development Sales is the exclusive residential brokerage . For more information call 305.800.5775 or visit www.57ocean.com

Read full post here.

By Kareni Zafra

Starting in 2020, the world changed and technology took on great relevance, to the point that now videos are crucial in the real estate industry to achieve sales. Such is the case of Multiplan Real Estate Asset Management, the developer behind 57 Ocean, located in the historic Millionaire’s Row in Miami Beach, who last year sending virtual reality glasses to a potential buyer in California, managed to finalize a sale for one million dollars, without the need for the buyer to visit the residence in person; made never seen before. 

That is why the company is betting big on the power of videos, the spectacular 57 Ocean penthouse goes on sale with a video that fuses reality with the virtual world. 

The video was produced by DBOX, an internationally awarded creative agency, and has a duration of an hour and a half where it exhibits the architectural value of the property of $ 38 million dollars. 

The video realistically captures the property’s best attributes, including a 360-degree view of the ocean, white beaches, and vibrant city from the 7,100-square-foot terraces, along with airy, sunny, and spacious decks. the home, designed by Sofia Joelsson of SofiaJoelsson Design. 

By viewing the video, shoppers can simulate walking the corridors of the 7,800-square-foot five-bedroom home, learning about private areas and six full bathrooms, through a personal guided tour showing the lifestyle and unique moments that They exemplify what daily life is like in the penthouse, like listening to the gentle breeze of the sea and the waves. In addition, shoppers are part of a candlelit dinner surrounded by the most spectacular hues of the sunset and experience first-hand what it is like to host under a star-studded sky in their social area without having to , physically, set foot in the penthouse. 

“Currently we are all living in a virtual world. The pandemic has had a profound effect on the psyche of shoppers, impacting their ability and willingness to travel. Just as supermarkets are facing a new reality with Instacart, and art fairs and boat shows are happening online, real estate is also experiencing a moment of transformation, ”says Marcelo Kingston, Managing Partner of Multiplan Real Estate Asset Management .

 “We have created a virtual desire to live on top of 57 Ocean, and we believe that only a video can truly embody that: living in the greatest luxury has no limits.” 

The penthouse, “is truly the jewel in the crown of Millionaire’s Row,” says Edgardo Defortuna, president and CEO of Fortune International Group, 57 Ocean’s exclusive broker. 

“There is nothing like it on the market in the area and we are excited to be able to innovate, introducing the world to the world for the first time in a virtual way. The home’s connection to the ocean is unmatched, and neither is the private resort feel at the epicenter of this quiet, family-friendly neighborhood. ” 

The project is the brainchild of José Isaac Peres, founder of Multiplan Real Estate Asset Management, and will be completed in 2021.

Read the full post here.

GOING ONE-ON-ONE WITH THE MIAMI HEAT’S HOTTEST RISING STAR, BAM ADEBAYO

By Laura Schreffler

BAM ADEBAYO DOESN’T NEED TO CLICK HIS SIZE 16 KICKS AND SAY, “THERE’S NO PLACE LIKE HOME” THREE times to arrive at his favorite spot in the Magic City: more often than not, he’s already there. And by “there” we mean his couch. The Miami Heat’s hottest young rising star is a bona fide homebody.

But he comes by it honestly. “Where I’m from, in the middle of the country, there were no clubs or parties. You had to make your own fun. [You were limited to] sitting in the house or going outside,” Adebayo explains. He typically chose the first option while waiting for his single mother, Marilyn Blount, to come home from an all-day shift at the Acre Station Meat Farm in Little Washington, N.C., where she earned $12,000 a year as a cashier. “My mom and I would just kind of hang out at the house, and now that’s all I want to do,” he says.

His rented Miami digs, on the 48th floor of a downtown high-rise, are a far cry from the single-wide trailer of his youth. He finally has room to breathe; his bachelor pad has all of the necessary space and then some to accommodate his towering 6’9” frame. And because his mother lives in the same building, a mere 43 floors down — and still frequently does his laundry — he really does have all his creature comforts in one place. It’s understandable that he’d be loath to leave.

For the record, the newly minted All-Star is far from a recluse. He’s 23; it’s almost his civic duty to indulge in the hedonistic delights that Miami offers. He most certainly isn’t in North Carolina anymore.

For one of the city’s most recognizable and feted residents, it’s likely that just about any and every door is wide open. But that doesn’t mean he has to step behind the curtain. Bam splashes out on a very small scale: a special steak dinner at Prime 112, or, more frequently, a “quality” waffle and mango smoothie at midtown eatery Angelina’s or a “calm situation” at Tap 42.

“[I was raised] to be laid-back,” he explains. “If I have friends in town visiting, we’ll go get dinner, but if I’m just by myself, I’m at the house, watching random TV shows. Right now I’m into this thing on Disney+, Brain Games [an Emmy-nominated show featuring games and experiments designed to mess with your mind]. I know it sounds crazy, but it’s [actually] pretty cool. I’m [also] starting to learn to play chess. I said, ‘I’m going to learn to play chess, because I want to win.’”

NBA, and, yes, an anomaly. Where most young players are flaunting their multimillion-dollar contracts at Joia Beach, KYU, Swan, Papi Steak and Komodo, dropping G’s on flashy cars, bling and expensive timepieces, Adebayo is cut from different cloth. He’s at home, playing mind games and doing crossword puzzles, quietly explaining that his first big purchase after signing with the Heat was a leased Range Rover because it was “too early” for him to commit to anything more expensive.

It would seem that he’s cautious about his newfound wealth, as if someone might snatch it away at any moment, but really, this is who he is: a kid who was raised without, but, now that he has, remains unpretentious. On his nightstand there’s a framed picture of the trailer he grew up in, engraved with the words “Never forget where you came from, and never lose sight of where you are going,” a reminder to stay that way.

BY LAURA SCHREFFLER
PHOTOGRAPHY NICK GARCIA
STYLING LINA PALACIOS
GROOMING CESAR FERRETTE
SHOT ON LOCATION AT 57 OCEAN

Read the full post here.

SOUTH FLORIDA’S FOREMOST EXPERTS ON BIOPHILIA AND DESIGN DISCUSS THE IMPORTANCE OF LIVING GREEN.

By Patricia Tortolani

Biophilia–a desire to be close to nature–is a term that continues to grow in popularity since it was first introduced several decades ago. The benefits of surrounding yourself with nature include stress reduction, memory retention and mood elevation, among many others. So it comes as no surprise that biophilia is a growing trend in interior design among forward-thinking developers. One of those developers is Marcelo Kingston, whose 57 Ocean (57ocean.com)–an ultraluxury boutique residential building on Miami Beach–is set for completion in 2021. Ocean Drive sat down with Miami’s premier experts on biophilia to discuss the future of design and development. The panel included Paloma Teppa, founder and creative director of Plant the Future (plantthefuture.com); Yair Marcoschamer, who leads the development of the company alongside his wife, Paloma; Craig Morell, director of The Kampong national tropical botanical garden; and Margarita Blanco, co-founder and director of the award-winning ArquitectonicaGEO landscape architectural firm. What follows are highlights of the discussion.

ON PRIORITIES
“Businesses and developers should think differently about how they choose a space and how they plan that space. We need to think [about how] to prioritize the level of biophilia in spaces from both a budget perspective and a space consideration–If we can add a little bit more life, a little bit more plants, rather than putting a piece of furniture that maybe costs $50,000. I think that it’s about priorities shifting a little bit.” -Yair Marcoschamer, chief executive gardener, Plant the Future

Download the full article as featured in the November 2020 issue of Ocean Drive here.