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
An aerial photo of Boca Lago Golf & Country Club (Google Maps, iStock)
Boca Lago Golf & Country Club owner wins approval to build a hotel on the property
Boca Lago Golf & Country Club owner wins approval to build a hotel on the property
Westime owner Jean Simonian and Washington Park Hotel. (Facebook via Westime and Washington Park Hotel)
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
3333 Biscayne Boulevard (Marcus & Millichap)
Biscayne Boulevard development site in Edgewater lists for $50M
Biscayne Boulevard development site in Edgewater lists for $50M
Renderings of the One Brickell project with Jorge Pérez  and Jon Paul Pérez (Photos via Wikipedia Commons, Related)
Related to partner with Baccarat on major Brickell high-rise development
Related to partner with Baccarat on major Brickell high-rise development
Deepak Khosa and Aaron Kurlansky with 123 Ocean Avenue, Palm Beach Shores (Google Maps, iStock)
Deepak Khosa closes on distressed hotel on Singer Island, plans to convert to multifamily
Deepak Khosa closes on distressed hotel on Singer Island, plans to convert to multifamily
Ocean Bank CEO A. Alfonso Macedo and 4238 to 4242 Northwest Seventh Street (Google Maps)
Ocean Bank sells Miami dev site for $14M, buyer plans mixed-use project
Ocean Bank sells Miami dev site for $14M, buyer plans mixed-use project
Valerio Spinaci and 1506 Collins Avenue (Google Maps)
Casa Hotels buys boutique South Beach hotel for $8M
Casa Hotels buys boutique South Beach hotel for $8M
Norman Braman and Jorge Perez score court victory against Edgewater Jai Alai fronton
Norman Braman and Jorge Perez score court victory against Edgewater Jai Alai fronton
Norman Braman and Jorge Perez score court victory against Edgewater Jai Alai fronton
arrow_forward_ios

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

Loading...