South Florida roundup

Shore Club now Fasano

Brazilian hospitality firm Fasano will operate the Shore Club in Miami Beach, replacing Morgans Hotel Group, developers said.

New York-based HFZ Capital Group, which acquired the Shore Club for $175.3 million in December 2013, will reopen the hotel at the end of 2017. Brazilian architect Isay Weinfeld is designing the redevelopment, which will become the Fasano Hotel & Residences at Shore Club.

The deal marks the brand’s first property in the United States, and Weinfeld’s first hotel project in the country, the developers said.

In July, HFZ received approval from the city’s Historic Preservation Board for demolition of a significant portion of the 1939 Cromwell Hotel, the original structure at the site. A portion of the building will be rebuilt as part of the 100-room hotel and 75-condo Shore Club project at 1901 Collins Avenue.

Fasano opened its first hotel in 2003 in São Paulo and now has four hotels and 15 restaurants. The company has broad plans to open hotels in Salvador, Belo Horizonte and Trancoso in Brazil, and in New York City, but does not yet have a New York site.

Bath Club Estates no longer pencils out for the Peebles Corp.

Peebles selling site

In a sign of the times, the Peebles Corp. is putting its Bath Club Estates project site in Miami Beach up for sale.

Peebles, headed by developer Don Peebles, planned to build a 15-story tower at 6747 Collins Avenue, an oceanfront site it acquired when it bought a Canadian development group.

The company said the size of the project, with only 13 units and a total of 100,000 square feet of space for sale, made it cost-prohibitive to develop.

“Over the past six months or so, we’ve received several unsolicited offers to purchase the site at compelling prices,” spokesperson Adriana Aragon wrote in an email. “So we’ve decided to expose it to the market as a whole before accepting one of them.”

Peebles isn’t alone in the fast-changing Miami market. Veteran developer Ugo Colombo decided to put his Brickell development site on the market in May. CBRE is marketing both sites.

A rendering of the Elysee tower

Elysee tower launched

The developers behind Biscayne Beach are launching a new condominium in Miami’s Edgewater neighborhood.

Elysee Residences will be a 100-unit, 57-story waterfront development at 700 Northeast 23rd Street. South Florida-based Two Roads Development, a company affiliated with Eastview Development, will break ground on the project in the first quarter 2016.

Units will range from three-to-five bedrooms, duplexes and full-floor penthouses, and from 2,660 to 4,000 square feet. Preconstruction prices start at $1.65 million and go up to more than $10 million.

Miami architect Bernardo Fort-Brescia, founder of Arquitectonica, is designing the project with French interior designer Jean-Louis Deniot. Cervera Real Estate is handling marketing.