The developers of a One Thousand Museum doppelganger tower closed on land for the project in Miami’s Edgewater.
Longtime Edgewater investors Joel and Michelle Rodriguez sold three properties on Northeast 29th Street to the developers of 729 Edge, Joel Rodriguez said. The developers are a partnership led by Michael Konig, Alex Posth, Kevin Venger and Louis Birdman. Venger and Birdman were part of a development team that constructed One Thousand Museum in 2019, the last building designed by the late architect Zaha Hadid.
729 Edge would be built immediately south of the condo tower Biscayne Beach.
The properties at 483, 485 and 501 Northeast 29th Street sold for $6 million, Rodriguez, a broker with Global Investments Realty, said. He and his wife began assembling the properties in 1997, before they were married.
They include two single-family homes and an eight-unit apartment building that the couple renovated and leased out over the years. The Rodriguezes paid $157,500 for the apartment building in 1997, $135,000 for the home next door in 2010, and $402,000 for the second home in 2013.
The 18,000 square feet of land will be used for a 33-space, nine-story parking garage, across the street from the condo tower site. The garage will also include retail and an activity space on the top floor that could be used for tennis courts, a pool or another amenity, the architect said at a city of Miami board meeting in October.
729 Edge is designed by ODP Architecture & Design.
The Urban Development Review Board approved plans for the 649-foot-tall, 70-unit waterfront condo tower, at 710 Northeast 29th Street, last year. Like One Thousand Museum, the building will have a helipad on the roof. It will also have about 13,000 square feet of retail space, and 160 parking spaces on site.
The developers have not yet closed on that waterfront site, currently home to an older condo tower, records show. Rodriguez is brokering the majority of the sales of the condo units.
One Thousand Museum, developed by Birdman, Gilberto Bomeny, Venger, Gregg Covin, and Todd Michael Glaser, is nearly sold out after being completed in 2019.
Condo and apartment developers have flocked to Edgewater in recent years. Projects under construction include Missoni Baia and Elysee Miami, as well as thousands of other units planned or in the pipeline.
In June, Melo Group launched sales of the first tower at Aria Reserve Miami, a planned two-tower development at 711 Northeast 23rd Terrace in Edgewater that will have 800 condos combined.
More recently, Fifteen Group sold a historic church in Edgewater for $20 million to a trio of developers that plan a mixed-use project on the site.
Chicago-based Trilogy Real Estate Group also closed on an assemblage in the neighborhood for nearly $10 million, where it plans to build a mixed-use project with an apartment tower.
Read more
Commercial
South Florida
Respark Residential acquires Wynwood Bay apartment building for $67M
Commercial
South Florida
Kushner scores $127M financing for Edgewater dev site