Developer completes Edgewater assemblage for Urbanica Hotel

Urbanica spent $15.3M on the properties since October

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

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

Elysee building at 788 Northeast 23rd Street

Edgewater’s tallest building tops off at 57 stories

Madison Realty Capital'a Josh Zegen and Fort Partners' Nadim Ashi  

Four Seasons in Fort Lauderdale scores $210M loan

Christopher Nassetta and Doubletree by Hilton Doral managed by Driftwood Acquisitions and Development

Hilton CEO warns against ignoring global warming threat

Rattan Chadha, Executive Chairman & Founder of CitizenM

CitizenM scores $48M loan to build Brickell hotel

Placeholder image

Blackstone sells Weston hotel for $12M

Rendering of One Eleven Wynwood Hotel by Sonder and Eduardo Vargas, Andres Hogg and Andres Klein

Sonder inks lease for flagship Wynwood hotel

A conceptual rendering and Lon Tabatchnick

Margaritaville developer plans another Hollywood hotel despite opposition