Developer completes Edgewater assemblage for Urbanica Hotel

Urbanica spent $15.3M on the properties since October

Miami /
Feb.February 25, 2019 11:30 AM

Renderings of Urbanica’s Edgewater project

UPDATED, Feb. 26, 9:10 a.m.: Urbanica Management completed an assemblage in Edgewater where the company is planning to build a 220-room hotel.

Urbanica Management, led by Charlie Porchetto and Diego Colmenero, paid $7.3 million for the adjacent lots at 3023 Biscayne Boulevard and 3030 Northeast Fourth Avenue, adding to the land it acquired in October at 3200 Biscayne Boulevard $7.95 million.

Coldwell Banker’s Rosy Cancela represented the seller, Biscayne Edge Inc., as well as the buyer. Biscayne Edge, controlled by Alberto Mariano Erviti and Caridad Crispina Gonzalez, paid $5.9 million in 2015 for the two lots, which include El Otro Tiesto, a Dominican-Japanese restaurant.

The developer plans to break ground on the hotel this year. The project will have about 5,000 square feet of retail on the ground floor and a 7,000-square-foot rooftop bar and entertainment space, Porchetto said last year.

The development firm, which owns Urbanica The Meridian Hotel in Miami Beach, also plans to expand in South Beach and to Chicago, according to a press release.

Across the street at 3000 and 3050 Biscayne Boulevard, Crescent Heights is moving forward with plans to build a major mixed-use project on more than 5 acres of land with up to 754 residential units, nearly 269,000 square feet of office space, about 17,000 square feet of retail space, a 38,450-square-foot grocery store, parking and fitness space. The developer recently requested the city replat those properties.


Related Articles

arrow_forward_ios
(Facebook via Hotel Astor Miami Beach)
Shuttered Hotel Astor in Miami Beach gets a new owner
Shuttered Hotel Astor in Miami Beach gets a new owner
Miami allegedly granted improper height increase for Design District hotel project: lawsuit
Miami allegedly granted improper height increase for Design District hotel project: lawsuit
Miami allegedly granted improper height increase for Design District hotel project: lawsuit
The Fairwind Hotel and Joseph Chetrit (Getty, Fairwind)
Chetrit Group sells Miami Beach hotel for $42M
Chetrit Group sells Miami Beach hotel for $42M
Vivian Dimond with Bay Park Towers (Elliman)
Developers rush in: Vivian Dimond-led group offers $150M for older bayfront Miami condo building
Developers rush in: Vivian Dimond-led group offers $150M for older bayfront Miami condo building
Renderings of the project Courtesy of Pebb Capital
JV plans high-end offices at old Bancroft Hotel in South Beach
JV plans high-end offices at old Bancroft Hotel in South Beach
JHSF's Fábio Auriemo with Como Metropolitan Miami Beach hotel (Susan Gale Group / One Sotheby’s International Realty)
Brazilian real estate giant JHSF buys oceanfront Miami Beach hotel, plans first Fasano
Brazilian real estate giant JHSF buys oceanfront Miami Beach hotel, plans first Fasano
The Variety Hotel (Getty)
Lender acquires Variety Hotel in Miami Beach following foreclosure suit
Lender acquires Variety Hotel in Miami Beach following foreclosure suit
Branden Muhl, James Vosotas and Hotel Greystone at 1920 Collins Avenue, Miami Beach (Google Maps, Mahaska, Trans Inns)
Hotel Greystone to reopen in September amid partnership break-up
Hotel Greystone to reopen in September amid partnership break-up
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...