Office condos planned at Russell Galbut and Harvey Hernandez’s Natiivo

Airbnb is no longer branding the project amid litigation between the developers

Miami /
Mar.March 09, 2020 08:45 AM
Russell Galbut and Harvey Hernandez, with Natiivo

Russell Galbut and Harvey Hernandez, with Natiivo

UPDATED, March 9, 1:15 p.m.: The commercial arm of One Sotheby’s International Realty is launching sales of office condos at Harvey Hernandez and Russell Galbut’s mixed-use Natiivo project in downtown Miami.

One Commercial Real Estate will be starting sales this month for 104 office condos at the project planned for 159 Northeast Sixth Street. The office component, called Creative HQ, will be on floors five through eight of the 51-story building. The office condos, which total 130,000 square feet, start in the $290,000s.

They’ll range in size from 431 square feet to 2,499 square feet. Amenities will include open floor plans and 13-foot ceilings.

The project, designed by Arquitectonica with interiors by Urban Robot, also includes 412 residential condos and 192 hotel rooms. It was previously planned to be an Airbnb-branded hotel project, where unit owners would be able to put individual rooms or entire units on the Airbnb platform. A spokesperson said Natiivo is no longer an Airbnb-branded project. It’s now open to all home sharing companies.

That announcement comes a month after Airbnb sued a company tied to Hernandez over a partnership between the two to offer Airbnb-branded apartments at Niido projects. Airbnb alleges Hernandez siphoned off $1 million in the form of a loan from the partnership into the Natiivo project. Hernandez has filed a counter suit and disputes that the loan was illegal.

Natiivo is expected to break ground in the summer and open in late 2022, according to the spokesperson. The project is about 50 percent sold.

Other examples of office condos in South Florida include TSG Group and BF Group’s 54-unit, nearly 100,000-square-foot office condo building in Coral Gables, in addition to projects in the Aventura area.

Correction: A previous version of the story incorrectly reported the square footage of the office component. 


Related Articles

arrow_forward_ios
1500 Concord Terrace and Atal Bansal, founder and CEO of Chetu (Photos courtesy of Chetu)
Software firm Chetu buys Sunrise office property for $25M
Software firm Chetu buys Sunrise office property for $25M
Terra’s David Martin and 1177 Kane Concourse (Google Maps)
Terra paid $32M for Bay Harbor Islands development site
Terra paid $32M for Bay Harbor Islands development site
T-Mobile store logo (Getty) and 4850 Northwest 103rd Avenue in Sunrise, Florida (Google Maps)
Des Moines investment firm pays $26M for T-Mobile data center in Sunrise
Des Moines investment firm pays $26M for T-Mobile data center in Sunrise
Fuse Group Investment CEO Eyal Peretz and attorney Michael Ehrenstein (Fuse, Ehrenstein Sager, Twitter via GUT Miami)
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Developers David Martin, Russell Galbut and renderings of the project.
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
Moishe Mana and one of the properties that's located on Flagler Street. (Getty, Google Maps)
Moishe Mana expands downtown Miami assemblage with $27M purchase
Moishe Mana expands downtown Miami assemblage with $27M purchase
Brookfield Property Group CEO Brian Kingston and  a rendering of 15800 Southwest 25th Street (Brookfield, Rendering courtesy of Newmark)
Brookfield buys Comcast-leased Miramar building for $29M
Brookfield buys Comcast-leased Miramar building for $29M
arrow_forward_ios

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

Loading...