SUNNY ISLES BEACH | St. Regis Sunny Isles Beach | 744 + 743 FT | 56 FLOORS x2

[chris08876]

Something tall could go here. Like many sites which have been bought, and eventually a 600+ foot tower was built. Something to keep our focus on.
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Fortune and Chateau buy condo development site for $113M

Fortune International Group teamed up with Chateau Group to buy a hotel condominium complex in Sunny Isles Beach and they plan to replace it with a luxury condo project.

The joint venture between Miami-based Fortune and Chateau, which was founded in Argentina, paid $112.5 million for the four buildings on 4.7 acres at 18801 Collins Ave. It appears the developers reached an agreement with the individual owners of the 347 units in the La Playa de Varadero, which was built in 1965, to buy them out. These were hotel condo units, so most of the owners probably didn't live there.

The developers have yet to reveal the details of their plans for the site, which has 430 feet of beachfront.
"Leveraging our 30 years in South Florida, we have identified Sunny Isles Beach as a real estate market with the potential for long-term sustained growth and we look forward to building on the strong and mutually prosperous relationship with the Chateau Group," Fortune International CEO Edgardo Defortuna said in a news release.

Current Site:


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http://www.bizjournals.com/southflor...-site-for.html

[chris08876]

Just as a reminder, they are the same group that have us the Jade Signature. There record is solid when it comes to delivering 600 foot towers. Given that the height ceiling for the area is about 640-650 feet, expect something around that height. The condo market is booming in S. Florida at the moment. This location is also by the Porsche Design Tower, which is under construction at the moment.

[chris08876]

SUNNY ISLES BEACH | 18801 Collins Ave | 643 + 642 FT | FLOORS

Fortune And Chateau Working On 649-Foot, Twin Tower Project In Sunny Isles

Chateau Group and Fortune International are preparing to build a twin-tower project in Sunny Isles.

Last year, the two partners paid $112.5 million for a 4.7 acre site at 18801 Collins Ave where the towers will be built. They have demolished the 347-unit La Playa de Varadero condo on the site.

According to plans submitted to the FAA, the south tower would rise 643 feet above ground, while the north tower would top out at 642 feet. Both towers would rise to the maximum 649 feet above sea level permitted in the area.

The two developers are also partners on the Ritz Carlton residences project in Sunny Isles, designed by Arquitectonica. Sales there began earlier this year.

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NXT

[chris08876]

PDF with diagrams: http://www.scribd.com/doc/288502786/varderochat

[chris08876]

Sunny Isles Approves Twin, 56-Story Condo/Hotel Towers Proposed By Fortune & Chateau

Despite opposition from area residents, Sunny Isles commissioners voted last week to approve twin 649-foot towers at 18801 Collins Avenue.

Developers Chateau Group and Fortune International are building a project with 431 condo units, 90 condo/hotel, and 60 hotel units. The two towers will be built to the maximum height permitted for the area, and is being built as of right.

One speaker at the meeting who claimed to be an engineer questioned the structural integrity of tall towers being built on the beach. She said that she watched engineers at Porsche Design Tower struggle to remove water from the foundation there, and said she feared that building would topple.

UNStudio and Trachtenberg architects are design consultants for the project.

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http://www.thenextmiami.com/16522-2/

[chris08876]

So along with city approval, this also was granted FAA approval. So both towers will be 643 feet.

[chris08876]

Proposed La Playa Towers In Sunny Isles Revised, Hotel Component Eliminated

Chateau Group and Fortune International want to remove a hotel component from their proposed twin tower La Playa project at 18801 Collins Avenue in Sunny Isles.

The previously approved plan included 431 residential condo units, 90 condo/hotel units, and 60 hotel units. Instead, the developers are requesting approval to build 490 residential units. A bridge between the two towers is also being removed.

The Sunny Isles Beach commission is scheduled to consider the changes at a meeting tomorrow.

[chris08876]

Twin-Tower Varadero In Sunny Isles Gets Utilities For 502 Units

Chateau Group and Fortune International have signed a deal that would bring utilities to their proposed twin-tower Varadero Condominium project in Sunny Isles.

According to the paperwork, Varadero will include:

502 residential units
10,237 square feet of restaurant
1,850 square feet of retail
7,780 square feet of office
Manuel Grosskopf signed the agreement on June 22 as an authorized representative of La Playa Beach Associates, LLC.

The project site is 18801 Collins Avenue. UNStudio/Trachtenberg is the design architect, with West8 as landscape architect and ODP as architect of record.

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NXT

[Urbannizer]

Very sexy. These will turn out great, no doubt about that.

[ATLksuGUY]

Damn, Chris thanks again for the updates. Sunny isles is like that kid who you never knew in school who grew up to become a brain surgeon and you're like, "Damn nice job kid!". I've been to Miami a bunch growing up with family but was never familiar with Sunny Isles. Good for them! Keep them comming!

[chris08876]

Originally Posted by ATLksuGUY

Damn, Chris thanks again for the updates. Sunny isles is like that kid who you never knew in school who grew up to become a brain surgeon and you're like, "Damn nice job kid!". I've been to Miami a bunch growing up with family but was never familiar with Sunny Isles. Good for them! Keep them comming!

Thanks.

Yeah the coastal region outside of the Miami CBD and its proxy neighborhoods is a bastion of development. Quite a large, extensive skyline, and one that extends 25+ miles across the barrier islands that make up S. Florida.



Panoramic view of the skyline of Miami Beach, Florida, U.S.A. by jorge molina, on Flickr


The skyline of Miami, Florida, U.S.A. along Bscayne Bay by jorge molina, on Flickr


The skyline of Miami, Florida, U.S.A. / The Magic City by jorge molina, on Flickr


View of downtown Miami, Florida, U.S.A. / The Magic City by jorge molina, on Flickr

[chris08876]

Sales Center Under Construction For Twin 56-Story Towers In Sunny Isles

Another big project is preparing to launch sales in Sunny Isles Beach.

Chateau Group and Fortune International are building a sales center at the Varadero site at 18801 Collins Avenue.

The developer purchased the property in 2014 for $113 million. Site plan approval was granted in 2015, and it was revised in 2016 to remove a hotel component.

According to the city of Sunny Isles, a construction permit for the sales center is active, with the size to exceed 7,000 square feet.

Eventually, the project will consist of two 56-story towers, each at 649 feet in height. There will be a total of 490 condominium units, 12 cabanas, 7,181 square feet of restaurant space, 7,780 square feet of office space and 1,850 square feet of retail space. Total floor area ratio is 1,228,154 square feet.

ODP Architects is the architect of records, with design overseen by Unstudio and Trachtenberg. Landscape design is by West8.

Down the block, Chateau and Fortune have the Ritz Carlton Residences under construction, with the tower recently passing level 15 (photos are coming later this week).

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NXT

[JMKeynes]

This is going to be amazing.

[chris08876]

Fortune, Château JV Lands $119M Refi on 1.2-SF Oceanfront Development

May 5, 2020

NKF arranged a $119-million loan for the refinancing of La Playa de Varadero, an oceanfront development site encompassing 4.72-acres in the heart of the City of Sunny Isles Beach, Florida. The borrowers, Miami-based Fortune International Group and Château Group, secured the financing via Bank OZK.

Located at 18801 Collins Ave., the project boasts 435 feet of direct beach frontage on the Atlantic Ocean and is fully approved, as of right, for development of 1.15 million square feet and 490 residential units. As proposed, the development is inclusive of two phases, comprising of two condominium towers with direct beach access and five-star resort amenities.

Project sponsorship received site plan approval for the development from the City of Sunny Isles in 2015, and recently secured final approval for the last set of modifications to the original design. So far, a portion of the pre-development work has been completed, including demolition of the existing structure and a structural build-out of the sales center.

NKF’s Dustin Stolly, Jordan Roeschlaub, Nick Scribani, Chris Kramer, and Dominick Calisto represented the borrower.

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https://www.connect.media/fortune-ch...t-development/

[chris08876]

Keep an eye out for Chateau and Fortune related ventures in Miami. Folks will use the pandemic as a foothold to secure some sites, and lay the cross hairs on long term developments. We're seeing a similar dynamic in NYC, I'd expect the same for NYC South (Miami-Dade).




= = = = = =




Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Developer Edgardo Defortuna could launch sales of an oceanfront project in Sunny Isles Beach by the end of 2020, despite the pandemic.

Defortuna, president and CEO of Fortune International Group, is partnering with Château Group on the La Playa de Varadero condo development at 18801 Collins Avenue, which has been in the works for years.

Defortuna said there will be opportunities to launch some “well-positioned projects” possibly before the end of the year “just to capture the momentum of the pent-up demand that may be coming.”

La Playa de Varadero is zoned for two 56-story condo towers with 490 residential units and 1.15 million square feet. Defortuna said the developers could take advantage of reduced construction costs, which would bring unit prices down.

Fortune is also on the hunt for land, looking for waterfront sites in Miami, Palm Beach, Naples and Tampa, he said. The company is in talk with funds and financial institutions to deploy capital.

“We did that very, very effectively in the past crisis,” Defortuna said. “I think our source of capital is such that if the opportunity is right – either through private investors or some of the funds – the money wouldn’t be the bigger issue. The issue is finding the right opportunity.”

[...]


The Miami-based firm has offered letters of intent for a couple of properties on the west coast of Florida, but Defortuna said both sellers and Fortune “want to see what the world is like in a couple of months.” Both projects would be residential, including a condo building in the Tampa Bay market and another development in Naples.

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TRD

[JMKeynes]

[Altoic]

Hotel/Condominium To Start Construction In 2022 Located At 18801 Collins Avenue, Sunny Isles, FL, 33160
https://floridayimby.com/2021/05/hot...-fl-33160.html

Varadero (also called La Playa de Varadero in some sources) is a luxury condo/hotel that is expected to begin construction sometime in 2022. The project has been underway since 2014, when Fortune International Group and Chateau Group teamed up to build the hotel-condominium in Sunny Isles, FL.

[chris08876]

Fortune International Group And Château Group Announce The St. Regis Residences In Sunny Isles Beach

Fortune International Group and Château Group have officially announced the highly-anticipated St. Regis Residences in Sunny Isles Beach, an oceanfront ultra-luxury residential development comprised of two standalone 62-story towers planned to rise at 18801 Collins Avenue. Designed by global architecture firm Arquitectonica with interiors by São Paulo-based Anastassiadis and landscaping by EDSA, the development will be situated on 435 linear feet of waterfront property with panoramic views of both the Atlantic Ocean and Intracoastal Waterway. The South Tower will be the first to enter the market with 194 residences ranging from two-to-four bedrooms and including penthouses. With development sales that have consistently outpaced the rest of the area’s ultra-luxury condominium market, the project is yet another success story from the renowned partnership of Fortune International Group and Château Group.

“With our extensive experience in the luxury residential condo market in South Florida, we continue to deliver distinguished personalized service and next-level amenities packages to our discerning buyers who crave the lifestyle that can be provided by a recognized, trusted global brand,” said Manuel Grosskopf, CEO of Château Group. “Without a doubt, The St. Regis Residences, Sunny Isles Beach, Miami embody these coveted touchpoints and we look forward to releasing more details of the project as we come to market.”

With the announcement of The Residences, the collaboration between Château Group and Fortune International Group – two seasoned developers with a robust track record of success in delivering high-quality craftsmanship and iconic, sophisticated designs – continues to create special and remarkable living spaces filled with refined and modern elegance. Between the developers, they have completed six projects in the Sunny Isles Beach area.

Last November, applications were filed with the FAA for building permits to construct two structures of 739-feet and 742-feet, or 750-feet above sea level, in Sunny Isles Beach. The coordinates listed in the filings match perfectly with 18801 Collins Avenue, where the St. Regis Residences are proposed to rise. The property spans approximately 4.71-acres, or 205,424 square feet and is owned by La Playa Beach Associates LLC, an entity formed in 2014 as a joint venture between Chateau Group and Miami-based Fortune International Group to redevelop the property into massive residential project. The applications remain under review, and the developers have yet to announce or confirm any of these details.

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FLYimby

[JMKeynes]

It’s a good thing that there’s plenty of dirty money from Israel because all of the dirty money from Russia is frozen. Thus, without the former, Sunny Isles development would collapse.

[chris08876]

This was approved by the FAA.

744 ft for tower one and the second at 739 ft.