kobi karp Archives | FIP Commercial

Mar 31 No Comments

Regency Development Group Proposes Five-Story Townhomes In South Beach

Author: Admin

Categories: Commercial News,Development,Miami Beach,Multifamily

Villas On Jefferson Rendering_Image Credit Kobi Karp 1170x435

Regency Development Group wants to build townhomes near Lincoln Road in Miami Beach.

The Chicago-based developer has filed a proposal for a 10-unit project at 1701 Jefferson Avenue, at the corner of 17th Street, a block north of the Lincoln Road shopping promenade.

Called the Villas on Jefferson, the Kobi Karp-designed development would be split between two buildings, each housing five units spanning roughly 2,800 square feet. All residences will be five stories high and include a two-car garage on the ground floor.

The Miami Beach Historic Preservation Board will hear the proposal April 9.

Regency Development Group, led by Michael Troyanovsky, bought the half-acre site for $4.4 million last year, according to property records. The vacant parcel is now used as a parking lot for the nine-story office building at 1688 Meridian Avenue.

A representative for Regency Development Group did not immediately respond to a request for comment.

The previous owner had proposed a 40-unit residential building with a workforce housing component that the Historic Preservation board approved.

Source: Commercial Observer

Dec 07 No Comments

Shvo Secures Approval For The Alton In Miami Beach

Author: Admin

Categories: Commercial News,Development,Miami Beach,Multifamily,Offices,Retail

the alton miami beach_photo credit sfbj 1170x435

Final approval was obtained by Michael Shvo for his mixed-use project in Miami Beach, which was created by the renowned architect Norman Foster.

The Alton, a six-story building, will have five luxury apartments, 17,000 square feet of ground-floor retail space, and 170,000 square feet of rentable office space. It’s unknown if the residential buildings will be rentals or condominiums.

This Monday, the Miami Beach Design Review Board unanimously approved the construction, after the city’s Planning Board’s approval three months earlier. Foster + Partners, the company that Foster started in 1967, is designing the complex, and Kobi Karp will be the local architect for it.

Construction is expected to begin next year.

Source: Commercial Observer

Oct 19 No Comments

Developer Under Contract To Buy 17,000-SF Lot In Wynwood For $7.7 Million

Author: Admin

Categories: Commercial News,Retail,Wynwood

Clara Homes is the latest developer to seek a piece of Wynwood.

The Miami-based company is under contract to buy a 17,000-square-foot lot for $7.7 million, with plans to build a luxury rental building on the site under Florida’s newly enacted Live Local Act, according to a company spokesperson. The sale is expected to close by the end of 2023.

The parcel holds a single-story retail building that’s home to the Austin Burke men’s clothing store at 2601 NW Sixth Avenue, located between the Interstate 95 and the 545 Wyn office building,

The clothing retailer owns the property and will remain there for now, as the deal includes a sale leaseback for one year. Austin Burke purchased the property, completed in 1967, for $340,000 in 1988, according to property records.

Clara Homes plans to build a 152-unit luxury rental building with ground-floor retail designed by Miami architectural firm Kobi Karp. The developer plans to utilize a provision from the Live Local Act, a state housing law enacted earlier this year, that allows added density in return for designating at least 40 percent of apartments as workforce housing.

Source: Commercial Observer

Aug 15 No Comments

Ritz Carlton Owner Proposes 15-Story Tower, Lincoln Road Rebuild

Author: Admin

Categories: Commercial News,Development,Miami Beach

The owners of the Ritz Carlton South Beach have submitted plans to build a new residential tower while rebuilding a portion of Lincoln Road.

The project is proposed to include:

The rebuilding of Lincoln Road in front of the Ritz Carlton
A new 15-story, 212-foot tower with 30 residential units

The Ritz Carlton is also planned to get a single-story rooftop addition to its cabana building, a redesigned pool deck, rear yard and restaurant area, and a new entry canopy on Lincoln Road.

At the Sagamore building (part of the Ritz Carlton property), improvements will include the restoration of the façade, modifications to the lobby, and a new outdoor seating area and corridor.

The hotel room count on the property is currently at 477, but will be reduced by 43 rooms after the renovation.

The Lincoln Road rebuild will include:

Pedestrian and vehicular access changes to both sides of Lincoln Road to maximize the pedestrian experience and safety while retaining full vehicular access
The installation of a new gateway element at the street end
Improvements to the beach access walk, including the widening of the walkway to improve visibility
The introduction of new open space and landscaping on the Beach Walk.

The public-private development agreement would need approval from the Miami Beach Commission. The developer would assume maintenance of Lincoln Road, beach access, and the Beach Walk in front of the hotel, which currently are the City’s obligations.

Kobi Karp is the architect of record for the new tower and renovations.

Naturalficial is overseeing landscape design, including the Lincoln Road rebuild.

The Historic Preservation Board is set to review the proposal on September 12.

Source: The Next Miami

Feb 15 No Comments

Gateway At Wynwood Gets $113 Million Refi

Author: Admin

Categories: Commercial News,Offices,Wynwood

Berkadia has arranged a $113 million loan to refinance Gateway at Wynwood, a 220,000-square-foot, Class A office and retail project designed by Kobi Karp in Miami’s Wynwood District. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Associate Director Robert Iudice of Berkadia South Florida arranged the loan on behalf of New York-based Rose & Berg Realty Group LP (“R&B Realty”), a family-owned real estate management, leasing and construction company. The property is leased to a diverse tenant roster including BoConcept, OpenStore and Veru.

Berkadia also secured the original construction loan for the project in early 2020 through lender 3650 REIT.

This time, A10 Capital, a vertically integrated, full service commercial real estate lender, provided the three-year loan, with two, one-year extension options.

“The volatility in the lending environment made this office refi transaction challenging, but our relationships with the lending community and the strength of this asset helped us secure one of South Florida’s largest office refis in recent times,” said Foschini. “We are proud to have played a key role in helping our client move forward with its plans as it continues to attract strong office and retail tenants to the trophy property in the highly desired Wynwood area north of downtown Miami.”

Designed by ‘starchitect’ Kobi Karp, Gateway at Wynwood is located at 2616 North Miami Avenue, in the epicenter of Miami’s Wynwood corridor, one of the most desirable 24-hour submarkets in the nation. It features approximately 220,000 square feet of Class A office space encompassing roughly 27,700 square feet of space on each of its floors. It features a private rooftop terrace with panoramic views, as well as 512 on-site parking spaces. The project also features 24,000 square feet of retail space and is centrally located at the convergence of the Midtown and Wynwood submarket’s’ high-traffic retail corridor, with immediate access to thousands of new residential units.

Gateway at Wynwood is just minutes away from Miami’s Central Business District (CBD), Midtown, Edgewater, the Arts and Entertainment District, Brickell, Miami Beach, and a variety of mass transit options including I-195, the Miami Metrorail and the new Brightline commuter rail line connecting Miami to Fort Lauderdale and Palm Beach.

Oct 19 No Comments

Shvo Wants To Redevelop Aging Lincoln Clock Tower Building

Author: Admin

Categories: Commercial News,Development,Miami Beach,Offices

Shvo is betting big on Miami Beach.

Michael Shvo’s firm is seeking to redevelop a 13-story office tower at 407 Lincoln Road, according to plans filed with the city.

The aging tower is one of the tallest office buildings in Miami Beach and is known for its clock display on the top. It sits directly in front of SoundScape Park.

The tower would mark Shvo’s third office project in the city.

But first Shvo’s firm has to acquire the property. An entity called EuroAmerican Group owns the building, which is split into 12 office condos, according to property records. Shvo’s filing with the city likely means a sale will soon be finalized. Shvo declined to comment and Michael Shvo could not be reached for comment.

Shvo tapped Foster + Partners and Kobi Karp as architects. Shvo will seek to completely renovate the exterior of the building and renovate the lobby, elevators and clock display, plans show. The renderings of the building look unrecognizable from the building’s current design.

Wealthy people have long flocked to Miami Beach, but mostly to live, not work. In recent years, developers have sought to capitalize on the wealth migration by building more office space for family offices and headquarters, as well as for the influx of tech and financial firms to the Miami area.

In addition to the Lincoln Road project, Shvo is building a six-story office building on Washington Avenue, and a 250,000-square-foot office building on Alton Road, both in Miami Beach. Shvo’s plans follow two major, controversial Miami Beach office proposals, one by Don Peebles, former Miami Beach mayor Philip Levine and Scott Robins, and another by Integra Investments, Barry Sternlicht’s Starwood and Michael Comras’ The Comras Company. The proposals, to be built on city-owned parking lots under 99-year leases, are heading to a referendum on Nov. 8.

An entity tied to Key International founder Jose Ardid bought the Lincoln Road office tower from the Financial Federal Savings & Loan Association in 1982, records show. In 2003, Key International sold the property to EuroAmerican Group, which lists Ivan Gonzalez Ruiz as president.

Shvo’s other major project in Miami Beach is the redevelopment of the oceanfront Raleigh and two other neighboring hotels. Shvo is planning to redevelop the historic Raleigh and build a 44-unit luxury condo tower. Rosewood Hotels & Resorts was tapped as the branding partner for the hotel.

Source: The Real Deal

Sep 15 No Comments

Michael Shvo Plans Second Miami Beach Office Project

Author: Admin

Categories: Commercial News,Development,Miami Beach,Offices

Michael Shvo is doubling down on Miami Beach’s office market.

Fresh off obtaining city approval for an office project along Alton Road, Shvo has filed plans for a six-story office building at 1665-1667 Washington Avenue, according to city records.

The Kobi Karp-designed development would have 21,000 square feet of offices on the top five floors, 58 parking spaces, a 1,000-square-foot ground-floor coffee shop and a 5,500-square-foot rooftop amenity deck. The site is just over a quarter of an acre.

The Miami Beach Planning Board is expected to vote on the proposal Sept. 20.

Shvo’s eponymous New York-based company, through an affiliate, bought the property at 1665 Washington for $4.5 million in February, property records show. It currently houses a three-story office building spanning 10,000 square feet. The vacant lot at 1667 Washington Avenue was included in Shvo’s $103 million purchase of the Raleigh Hotel in 2019.

In his other South Beach office development, Shvo wants to build a 250,000-square-foot project that will include retail on the site of a commercial strip at 1656-1680 Alton Road — including the former home of Epicure Gourmet Market & Café — as well as an adjacent parking lot at 1677 West Avenue.

In June, the Miami Beach Planning Board approved vacating an alley to allow the project to proceed. The Alton Road building still needs design approval from the city.

Shvo’s office projects come as South Beach approaches a crossroads. Developers and some city officials are calling for office construction that would help shed the area’s party image. Yet, others are pushing back over traffic concerns and questions regarding demand to lease the space.

In November, Miami Beach voters will cast ballots on plans by two development teams — one led by Don Peebles, and the other by Integra Investments and including Barry Sternlicht as a partner — to build offices on separate sites near Lincoln Road.

Shvo, who started out as a broker before becoming a developer in New York, initially set his sights on Miami Beach’s oceanfront hotel market, with plans for redevelopment. He and his partners, Turkish investor Serdar Bilgili and Deutsche Finance, bought the Raleigh, South Seas and Richmond hotels for a total of $243 million in 2019. The partnership hit rough patches, with heated lawsuits erupting between Bilgili and Shvo. The suits were settled, with Shvo and Deutsche pursuing their plans for the hotels.

They plan to restore the properties and develop a 17-story, 44-unit condo tower on part of the Raleigh site. The high-end Rosewood Hotels & Resorts will manage the Raleigh and brand the new tower.

Source: The Real Deal

Jan 14 No Comments

AMAC Acquires 1800 Alton For $32.5M, Showcases Strength In Miami Retail

Author: Admin

Categories: Commercial News,Miami Beach,Retail

AMAC has acquired 1800 Alton, a trophy urban retail center in Miami Beach for $32.5 million from Saber 1800 Alton, LLC.

Acquired in partnership with Daniel Neary, a Miami Beach real estate developer, the property is prominently located in Sunset Harbour at the intersection of Alton Road and 18^th Street with great visibility on one of Miami Beach’s busiest intersections.

Designed by award-winning, Miami-based architect Kobi Karp and built in 2018, the five-story urban center contains 31,840 square feet of class “A” retail and 136 parking spaces across the three-level parking garage. The property currently contains two long-term tenants and two vacant spaces on the ground floor measuring 2,233 and 1,803 square feet.

“We are thrilled to complete the acquisition of the class A property developed by Saber in one of Miami’s most desirable locations,” said Maurice Kaufman, Founding Principal at AMAC. “We are committed to the long-term future of Sunset Harbour and have already received strong interest in the property.”

1800 Alton is ideally positioned in Sunset Harbour, the vibrant neighborhood at the gateway into South Beach, with many high-end residential buildings, retail spaces, and the Sunset Harbour Marina.

Jordan Gimelstein and David Spitz of the Koniver Stern Group were the sole brokers on the sale of 1800 Alton Road. Jordan and David are the Directors of the Investment Sales division at Koniver Stern Group and have been involved in many high street transactions throughout the Urban Core of Miami and Miami Beach.

Source: REW

Nov 18 No Comments

Wynwood Just Got A Little More Vibrant

Author: Admin

Categories: Commercial News,Development,Offices,Wynwood

As the The Gateway at Wynwood building nears completion, the long-awaited exterior garage cladding, which depicts a vibrant mural, has been fully installed just in time for Art Basel next month. Additionally, the rooftop deck has been completed and signage is going up around the building.

The Class A office building, developed by R&B Realty Group and designed by renowned Miami architect Kobi Karp, has helped turn Wynwood into a mini-city.

The office building, which found inspiration in Wynwood’s innovative spirit and modern vibe, will allow Wynwood’s new residents to walk to their offices and shops without having to get in their cars. Wynwood, which used to be home to neglected warehouses, is seeing a construction boom of condos and apartments and, now, office buildings as well.

The Gateway at Wynwood offers about 195,000 square feet of leasable Class A office space and nearly 25,900 square feet of prime street-level retail space at the intersection of Wynwood and Midtown. This summer, R&B Realty Group announced the building’s first office lease signed with biotech company Veru Inc. The eight-year, 12,155-square-foot lease will serve as the company’s global headquarters and triple Veru’s current office space.

Mar 02 No Comments

Downtown Miami Revitalization Takes Flight

Author: Admin

Categories: Commercial News,Development,Retail

The revitalization of Downtown Miami is continuing to evolve.

New York-based developer Time Century Holdings has entered the Miami market to transform the Metro Mall into a luxury jewelry center. The developer secured a $23.6 million construction loan for the $50 million project through City National Bank of Florida.

Time Century Holdings is working with architect Kobi Karp on the project to create a destination for “luxury jewelry retailers, wholesalers, consumers and watch enthusiasts.” Phase one includes a basement, ground, mezzanine and second floors, while the second phase—set to start later this year—will include the development of four stories of office space. The wholesale retail portion of the project is already 60% leased by jewelers from Europe, South America and Asia. The leasing helped to secure the loan, which Yair Levy of Time Century called a “true endorsement” of the project and of Downtown Miami.

The jewelry center itself will take up four floors with a three-story atrium. There are retail spaces ranging from 500 to 2,000 square feet with rental rates ranging from $65 to $150 per square foot.

The jewelry center is just one of several ongoing projects transforming Downtown Miami and big real estate players are getting involved.

Source: GlobeSt.

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Tag: <span>kobi karp</span>

Regency Development Group Proposes Five-Story Townhomes In South Beach

Shvo Secures Approval For The Alton In Miami Beach

Developer Under Contract To Buy 17,000-SF Lot In Wynwood For $7.7 Million

Ritz Carlton Owner Proposes 15-Story Tower, Lincoln Road Rebuild

Gateway At Wynwood Gets $113 Million Refi

Shvo Wants To Redevelop Aging Lincoln Clock Tower Building

Michael Shvo Plans Second Miami Beach Office Project

AMAC Acquires 1800 Alton For $32.5M, Showcases Strength In Miami Retail

Wynwood Just Got A Little More Vibrant

Downtown Miami Revitalization Takes Flight

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