Ocean Drive Magazine

Condo Market Surges in Sunny Isles Beach

Tue, 21 May 2013 00:00:00 -0400

Call it a luxury boomlet. The city of Sunny Isles Beach, a straight shot up Collins Avenue 20 minutes from South Beach, is geographically tiny, clocking in at a mere one square mile, yet in the last year six luxury high-rises have stepped into the market. What’s more, the area is seeing soaring prices to match.

Take the Porsche Design Tower (18555 Collins Ave., 305-974-0500). Since it started sales in May of 2012, the building—132 units constructed around three car elevators that travel all 60 stories and make up the core of the building—has converted more than $400 million in reservations into contracts. This includes its two penthouses.

“We sold them [each] for $22.5 million,” says Gil Dezer, president of Dezer Development, which is developing Porsche Design. “One came in early on as a reservation; now he’s under contract. The other was a walk-in, a foreign national, no broker, no nothing. He fell in love with the building, and he bought the penthouse and a cabana and a man cave.” (A man cave being a 2,500-square-foot haunt with a living room, bar, ocean views, and an up-tonine- car garage. The building has six of them.) The total sale was $25.5 million.

Over at The Mansions at Acqualina (17749 Collins Ave., 305-933-6666), 69 of the 794,600-square-foot-plus residences starting at $7.8 million have sold since the sales office opened in March last year. What’s more, Michael Goldstein, president of The Trump Group Residential, the developer on the project, says he has not one but two parties interested in the $55 million Palazzo d’Oro penthouse. The penthouse in question has two stories, 20,000 square feet, and comes complete with a $5 million Fendi Casa furniture package and a glass-bottomed outdoor pool that cantilevers out 12 feet, for a 649-foot view straight down.

And the list goes on: Regalia (19505 Collins Ave., 305-405-3270), whose 37 full-floor and two double-floor units came on the market in May 2012 (the building was just topped off), has remaining units priced in the $7 million range and up, and is “over 60 percent sold,” says Louis R. Montello, president of Regalia Beach Developers LLC. 400 Sunny Isles, a two-tower, 230-unit project on the Intracoastal, has presold close to 90 percent of its units with available residences priced from $750,000 to $3.5 million. And Chateau Beach Residences (17475 Collins Ave., 305-944-4440), which is currently tiling the foundation of the building, has 70 percent of its 84 units under contract for $1,000 to $1,100 a square foot, according to Manuel Grosskopf, CEO of the Chateau Group, the developer on the project.

These last two buildings represent a more accessible price point for Sunny Isles, around $1,000 a foot compared to The Mansions’ $1,750 to $3,500 a foot or Porsche’s average of $1,200 a foot.

“It’s a great price for us and a great price compared to the competition,” says Grosskopf. “The competition is above the $1,200 [-a-foot mark], but the difference between us is we have an absolute price that is more reasonable.”

What’s luring buyers to Sunny Isles is the opposite of what they might find in South Beach, namely large units and a preponderance of quiet.

“The only similarity between Sunny Isles and South Beach is that they’re both on the beach, and they’re both in Miami,” says Edgardo Defortuna, CEO (as well as founder and president) of Fortune International, which is developing the Jade Signature (16901 Collins Ave., 305-940-0335), a 57-story tower with 192 units and the last of the six out of the gate. Presales began in April at about $1,200 a foot. “The South Beach customer is trendy and less family oriented, and they want relatively smaller units.”

There’s a significant Russian contingent in the area, but Defortuna sees other trends building. “When you move up the beach to Sunny Isles, it becomes more Latin American, Brazilians,

Argentines, Mexicans looking for larger apartments to accommodate their families,” he says. “They spend a long time here even if they come fewer times a year.”

Sunny Isles wasn’t always so suited for families. In the ’90s, before the city was incorporated, it was a haven for cheap motels frequented by spring breakers, affected by crime, and had a less desirable quality of life. What it needed was someone seeing its potential.

“I’m a New Yorker, and I came down and saw a city that was located between three of the most expensive neighborhoods in the area,” says Dezer, referring to Bal Harbour, Aventura, and Golden Beach. “People were driving by the motels and poopooing Sunny Isles. We saw oceanfront.”

Starting in 1997, developers began buying up those old motels. Dezer Development, for one, bought 17 different parcels. And slowly new product was built. The first wave included the Acqualina, sister to The Mansions.

Now, well into the second wave, restaurants and services are following.

“You have Timo, which is a high-end Italian restaurant, Epicure [Market], there are a lot of things now,” says Goldstein. “Before there was nothing. People went to McDonald’s and KFC.”

While vacant parcels are few and far between today, there are a handful of projects still on the horizon. Dezer Development has nine plots left to develop. And the Chateau Group has approval on a building called Chateau Ocean designed by Arquitectonica, at 94 Collins Avenue, a couple of blocks south of Bal Harbour. “It’s one of the only sites that’s within walking distance to the shops and restaurants,” says Grosskopf.

If the last year is any indication, Sunny Isles still has room (and interest) to grow.

“Ninety-five percent of all the inventory has been bought up there,” says Goldstein. “There were 6,500 units available [during the real estate bust of 2005 to 2008]. Now there are fewer than 400 units.”

Montello is similarly bullish: “The distinction between the New York buyers and the international buyers is that [New York buyers] think we’re still in 2008. That ship has long sailed. All the stuff on the ocean, the high end, those prices are back up where it was, and that inventory has dried up.”

Getaway: An Insider's Guide to Aspen

Mon, 13 May 2013 00:00:00 -0400

There’s an old local adage in Aspen that the town’s bestkept secret is its summers. The jig is up, however (sorry, Aspenites), and come June through August, increasing numbers of in-the-know Miamians trade azure seas and oppressive heat for hiking boots and mountain trails. The tiny resort of Aspen may have staked its international renown via superb skiing, but an Aspen summer has its own glory: active mornings, lazy alfresco lunches, and a heady mix of art and culture. The chic mountain town’s bevy of affluent second-homeowners includes top Miami players who just so happen to also influence Aspen’s bustling summer scene.

Miky Grendene, the celebrated owner and founder of Casa Tua, first visited Aspen 20 years ago on a ski trip with Turnberry Associates principal Jeffrey Soffer. “Jeff invited me and [Miami developer] Ugo Colombo to his house,” Grendene says. “I love the nature of Aspen. It’s a great ski station and a great little town, but has a cosmopolitan culture.” In 2010, Grendene decided to bring his Northern Italian cuisine and private club to Aspen, drawing on his famous Casa Tua brand in Miami to lure the jet set in the mountains. A three-story building in the heart of downtown was redesigned to accommodate the impeccably appointed Casa Tua Aspen, a central hub for Miamians looking to wine and dine while in the Rockies. Grendene’s decision to open there was driven more by quality of life than by dollars and cents. “I opened Casa Tua Aspen simply because of my desire to spend time here,” he explains. “It may make more sense to open in New York City, as it doesn’t have Aspen’s off-season, but I started a business so I could live here and be part of its special community. I also thought the town was lacking a good Italian restaurant. I have seen an increase in Miamians over the last three years, and they like to come to Casa Tua Aspen because it feels like home to them.”

Grendene has gone so far as to form his own Casa Tua ski team, which participates in several charity events, including the Ajax Cup, and his Aspen restaurant and private club hosts highprofile events, including fundraisers by another prominent Miami couple, Mark and Robin Levinson, of Levinson Jewelers. Last summer, the Levinsons gathered friends, many from Miami, in support of the music-education programs at Jazz Aspen Snowmass, which stages the anticipated June festival (June 21 to July 6) and Labor Day festival (August 30 to September 1). The Levinsons first visited Aspen 30 years ago and now spend every summer in the mountains. “It’s so captivating and beautiful, you can’t not be there,” says Robin Levinson. “And I love all the boutiques, including P.E. 101, Nuages, Max, and Chequers.”

The Aspen-Miami connection first ramped up during the ’70s. A yen for partying often found Miamians of ambiguous employment touching down in private jets, with wads of money to spend. Dressed to impress, they would dance into the wee hours at Aspen’s former Andre’s nightclub, famous for its retracting roof and a mix of A-list celebrities and rowdy town locals. Recalls entrepreneur and lensman Larry Sands, who in 1972 launched the Optical Shop of Aspen (which eventually grew into a nationwide chain of stores, including a current Miami outpost), “The Miami clientele has always been strong. Some of my first big customers in the ’70s were rich Miamians. Those were the drug days, and the Aspen-Miami scene was often related to it. It was almost a competition on [which city] had the biggest party scene. These guys would always stop off for sunglasses, God bless them, and pay cash, and then went on to open up successful, legitimate businesses across the country.”

These days, Aspen is certainly less of the freewheeling Wild West, and several lucrative businesses with a Miami flagship or a Miami owner are integral to the resort’s retail and dining scene.

“Aspen is summer camp for adults,” says former longtime Miamian and Belly Up Aspen owner Michael Goldberg. As Aspen’s music man and partner in Matsuhisa restaurant, Goldberg is at the center of the town’s diverse summer culture scene, a three-month offering of world-class art, music, dance, food, and theater unlike any other mountain town in North America. “It isn’t just the musical offerings that make this place special,” he adds. “You can’t be at a loss for cultural or intellectual challenges.” As with the Levinsons, Goldberg advocates the Jazz Aspen Snowmass events, as well as the Aspen Ideas Festival and the USA Pro Cycling Challenge (August 19 to 25), all interesting events that add to the amazing season of classical music put on by The Aspen Music Festival and School (June 27 to August 18). Additionally, an Aspen summer is bookended by the Food & Wine Classic in Aspen (June 14 to 16), a three-day epicurean extravaganza of grand tastings, seminars, and cooking demos headlined by the who’s who of the culinary and wine world, including Mario Batali and José Andrés, among others. Launched in 1983, the success of the Aspen event helped spawn Miami’s South Beach Wine & Food Festival. Lee Brian Schrager, the mastermind behind the SBWFF and vice president of corporate communications and national events at Southern Wine & Spirits of America, says of Aspen’s fest, “Since I’m not involved in producing the event, the Classic is really a time for me to enjoy myself as I visit with great friends and colleagues.”

ART BOOM
Perhaps the strongest Miami-Aspen connection is a burgeoning contemporary art scene that involves a staggering list of Aspen and Miami collectors, curators, artists, and gallerists. Fulland part-time Aspenites, including Nancy and Dr. Robert (Bob) Magoon, and John and Amy Phelan regularly attend Art Basel Miami Beach. Conversely, the Aspen Art Museum’s annual ArtCrush (July 31 to August 2), chaired by Amy Phelan, attracts the top tier of Miami taste makers, including Debra and Dennis Scholl, who have owned five Aspen homes and are involved in both art scenes. They first searched for the perfect escape from Miami in 1989. “We had begun this methodical search for a place to get out of Miami in July and August,” Dennis says. “We went to Park City, Whistler, Telluride, Vail, just about every ski place you can think of. When we found Aspen, we knew we were done right away. There are many wonderful ski towns, but there’s only one Aspen when it comes to cultural opportunities.”

In the summer months, Aspen’s art scene is at its peak, with the Aspen Art Museum and Anderson Ranch Arts Center luring top collectors from around the globe. Both institutions have become powerhouses on the international art circuit. “In the summer, Aspen has the greatest aggregation of American collectors anywhere,” notes Scholl. “To spend the summer hanging out and talking about art with collectors of such high caliber is incredible. Heidi Zuckerman Jacobson (CEO and director of the Aspen Art Museum) and Barbara Bloemink (executive director of Anderson Ranch Arts Center) have really changed the level of engagement possible when it comes to contemporary art. And there is an incredible number of Miamians engaged in the art community in Aspen.”

Among them are Chad and Ilona Oppenheim, Sandy and Tony Tamir, Gabi and Tato Garza, Miami’s Bass Museum of Art President of the Board of Directors George Lindemann, Aaron and Dorothy Podhurst, and Don and Mera Rubell, who own one of the greatest private contemporary art collections in the world. In fact, the abovementioned Magoons were one of the first Miami couples to flock to Aspen. “When they came and stayed, a lot of Miamians took note. People certainly follow Bob and Nancy in matters of taste,” says Scholl.

“The Aspen Art Museum was very smart to invite artists, museum directors, curators, and collectors, during a time of year when Aspen is at its best,” notes Silvia Karman Cubiñá, executive director and chief curator of Miami’s Bass Museum. “The shows are always great, and the residents and people close to the museum make a beautiful effort in hosting everyone. For these reasons, Aspen has become an art moment in the art-world calendar.”

TRAILBLAZERS
Just about every Miamian with a passion for Aspen touts the grandeur of the mountains, and the outdoor adventures, as the reason for first visiting, and ultimately buying a second home. From June through September, Aspen’s trails are humbling and exhilarating, whether on foot, horse, or bike. Like many, Miami real estate magnate Ugo Colombo and his wife, interior-design maven Sara, first visited Aspen as avid skiers, but soon fell in love with the rewards of summer. They purchased a home near Aspen Highlands and now spend as much time as possible there. “Summer in Aspen is a complete change of mind, and perhaps more interesting than winter, as there’s a wider variety of things to do—hiking, biking, kayaking,” says Ugo. “It’s a very healthy lifestyle. The restaurants and shops are of high quality, and it doesn’t have a highway running through the middle of it, like Vail. It’s a cozy mountain town and is more difficult to access, which makes it exclusive.”

Sara, who owns the über-chic home-design store Nest in the Miami Design District (a Bal Harbour location is set to open the end of June), credits Aspen’s small-town vibe for quality time with their two children. “Aspen is much more conducive to family time than Miami,” she says. “It’s a slower pace of life and much more intimate.” (Shoppers, take note: Sara scours Aspen’s Paris Underground Antiques for rare vintage pieces, and Lee Keating’s Performance Ski is a must-stop, too. “Lee has such great style, and a great eye for both summer and winter,” she says.)

Surprisingly, the adrenaline-fueled sport of dirt biking is Ugo Colombo’s current outdoor obsession when in town: “We bike [more than 30 miles] to Maroon Bells and Crested Butte.”

Colombo’s wilderness rides are just the kind of connection with the land, the scale of the continent, that makes Aspen and the raw mountains around it so special. It’s a place where you can be dwarfed by the Rockies, yet return to a sophisticated town whose cuisine and culture are avant-garde—a tale of two quite lovely realities that Miamians can’t seem to resist.

The Ultimate Parking Space

Fri, 10 May 2013 18:25:00 -0400

For our April issue car feature, “Speed of Sight,” Ocean Drive brought some of the most sophisticated vehicle brands together to present their latest ultra-luxury, exclusive models. But photographing these mammoths of opulence presented an interesting challenge. A group composed of a Bentley Continental GT Speed, an Audi R8, a Porsche 911 Carrera, and a Maserati GT Sport would swallow an ordinary studio space. They required an equally elevated level of luxury—so Ocean Drive turned to 1111 Lincoln Road.

Barely three years old, the Herzog & de Meuron-designed structure rising above Lincoln Road and Alton Road has already become a signature landmark in Miami Beach, with its stark elegance and dramatic lines. “I thought it would be interesting to juxtapose the sleek surfaces and lines of these incredible cars against the raw interior of the building,” says award-winning architectural photographer Claudia Uribe, who shot these vehicles on the garage’s seventh floor.

That level in the structure, with its 34-foot-high ceilings, 25,000 square feet of space, and sweeping views of Miami Beach, doubles as a highly coveted event location—and Ocean Drive has not been the first to make use of it to highlight luxury autos. Ferrari hosted an exclusive party there during Art Basel Miami Beach 2011, where it unveiled the 458 Spider; days later, BMW launched its line of electric cars, including the BMW i3 and BMW i8 Concept cars there. The space, in fact, is a favorite of the Art Basel crowd, hosting the most exclusive events during the art week; this last December, the Moncler 60th anniversary dinner—hands-down the most sought-after invitation during Art Basel—was held there.

The Ocean Drive shoot took two days, with two cars being shot each morning. Once the vehicles arrived at the garage, they were driven to the seventh floor and positioned accordingly, with the team of 1111 Lincoln Road making sure that every need for the shoot was met, including preparation of the surrounding areas and helping to coordinate the safe transport of the vehicles, as well as any additional catering needs. The end result? A stunning eight pages of glossy cars, powerful interiors, and Miami flavor. 1111 Lincoln Road, Miami Beach, Ste. 760, 305-538-9320, ext. 101