The first purpose-built Class A office space will rise in the Sunset Harbour district of Miami Beach after a mixed-use project won approval from the city commission last week.
With an influx of business and wealth migration to South Florida, many are looking at Miami Beach as a place to relocate.
Eighteen Sunset will span more than 60,000 square feet and offer luxury residential, retail and residential accommodations in one building. The five-story building will have two floors of Class-A office space, a residential penthouse with a rooftop, 32,000 square feet of indoor and outdoor space with a deck overlooking Biscayne Bay, and street-level retail and restaurant space.
“We haven’t even begun marketing this and yet we’ve had a lot of interest and demand from various folks for all aspects of the project. I think we’re hitting it just at the right time,” said Brad Colmer of Deco Capital Group, the development firm behind Eighteen Sunset.
The third and fourth floors will be 32,000 square feet of office space for finance and investment firms, family offices, technology firms, and professionals seeking waterfront views. Deco Capital Group has enlisted a best-in-class team to represent Eighteen Sunset, with Stephen Rutchik of Colliers International leasing the building’s office space, and Sara Wolfe of Koniver Stern marketing the retail offerings.
The penthouse has 15,000 square feet of indoor space and sits one floor above the office space, where an executive can live and work under the same roof. The rooftop deck will have a pool, hot tub and outdoor dining area. The penthouse owner will also have a private garage that has room for at least six cars on the building’s second floor and direct elevator access.
“The Penthouse at Eighteen Sunset will be the pinnacle of luxury and exclusivity in Miami Beach, making it unlike any private residence the city has seen,” said Oren Alexander of Douglas Elliman, which is selling the penthouse. “This is perfect for a buyer drawn to the idea of taking an elevator down to the ground floor and being immersed in a vibrant, walkable neighborhood that offers everything from sidewalk cafes and coffee shops to trendy boutiques and a marina across the street. All of this is available in a building offering beautiful views and the amenities and security features of a world-class building.”
Eighteen Sunset, located between Purdy Ave. and Bay Road, will overlook Biscayne Bay and Maurice Gibb Park, close to dining and retail destinations. The project is the newest development by Deco Capital Group, a Miami-based real estate development and investment firm.
“We have a covered breezeway as well as covered sidewalk space,” Colmer said. “I can’t think of many other buildings in South Florida that are going to have the amount of covered outdoor space that we have and the indoor and outdoor connectivity for ground-level activation. I think that offers a lot of exciting opportunities.”
Colmer says construction is expected to start around September and is scheduled to be completed in 2023.
Source: GlobeSt.
