The Real Deal Miami

Auberge Beach, GranParaiso and other resi towers top off in South Florida

Two projects had cranes collapse during Hurricane Irma
January 26, 2018 12:30PM

Auberge Beach Residences & Spa Fort Lauderdale, CAOBA and The Bristol

UPDATED, 4:45 p.m., Jan. 26: A handful of high-rise residential towers In South Florida reached new heights and topped out.

Auberge Beach Fort Lauderdale’s south tower

The 23-story south tower at Related Group’s 171-unit beachfront condo project in Fort Lauderdale topped off at 70 percent sold.

Related, along with its partners Fortune International Group and Fairwinds Group are developing Auberge Beach Residences & Spa Fort Lauderdale, a two-tower project at 2200 North Ocean Boulevard. The 17-story north building topped out a few months ago and is nearly sold out, according to a press release. Construction began in 2015.

Nichols Brosch Wurst Wolfe & Associates and interior design firm Meyer Davis designed the development. Condos range from one to five bedrooms units and from 1,500 square feet to 5,000 square feet. Former Miami Dolphins quarterback Dan Marino and Winnipeg Jets’ Jacob Trouba purchased units at Auberge. Sales are being handled between Related Realty and Fortune Development, according to a spokesperson.

Hurricane Irma toppled a construction crane at the development in September, but it did not cause any damage or injuries, according to a spokesperson.

First building at Miami Worldcenter

Miami Worldcenter developers Nitin Motwani and Art Falcone, along with Taubman Centers and Forbes, just topped off the first building of their massive $2 billion project, according to a press release.

The CAOBA building, named after the spanish word for mahogany, will be a market-rate 43-story, 444-unit apartment tower at 698 Northeast First Avenue, a block away from All Aboard Florida’s MiamiCentral. The building, previously known as the Seventh Street Apartments, is slated to open this fall. Pre-leasing will launch this summer.

Apartments will range from 500-square-foot studios to 1,300-square-foot three-bedrooms. Amenities will include a pool deck, fitness center, clubroom and an outdoor lawn for dogs.

The 27-acre, mixed-use development will include Paramount Miami Worldcenter, a 562-unit condo tower; the 1,700-key Marriott Marquis Miami Worldcenter Hotel & Expo, and a 600,000-square-foot office tower. It’s one of the eight submitted sites in South Florida for Amazon’s second headquarters.

The Bristol in West Palm Beach

The Bristol in West Palm Beach topped off at 25 stories. Developers Al Adelson, principal of Flagler Investors, and Gene Golub of Chicago-based Golub are building the 69-unit building at 1100 South Flagler Drive. Douglas Elliman is handling sales for the units, priced between $5 million and $22 million.

Condos at the Bristol range from 3,600 square feet to 14,000 square feet and feature views of the Intracoastal Waterway, Atlantic Ocean and Palm Beach Island. As of November, sales at the luxury condominium project hit 85 percent, according to the Palm Beach Daily News. The total sellout is estimated at about $550 million, according to the New York Attorney General’s Real Estate Finance Bureau.

In March, the developers closed a $206 million construction loan for the project. It’s set to be completed by the second quarter of 2019. Suffolk Construction is the general contractor.

Gran Paraiso in Edgewater

Gran Paraiso at the Related Group’s Paraiso complex in Edgewater is topping off next week, according to a spokesperson.

Related launched sales for the 317-unit tower at 480 Northeast 31st Street with Fortune International Group in 2015. The complex, designed by Arquitectonica, will be home to former New York Yankees hitter Alex Rodriguez, DJ and record producer David Guetta, San Antonio Spurs player Manu Ginóbili and tennis champion Arantxa Sánchez Vicario.

GranParaiso’s amenities will include a pool, children’s pool, gym and spa, bowling lanes, virtual golf, theater and access to Amara at Paraiso Bay, a Michael Schwartz restaurant.

Related nabbed $92.7 million in financing for Gran Paraiso in 2016 from Bank of the Ozarks.

During Hurricane Irma, a construction crane snapped at the construction site.

Correction: A previous story misrepresented the firm marketing sales for Auberge Beach Residences & Spa Fort Lauderdale.