Author: Mattoni Group

Soleste Club Prado Video look

Take a look inside one of our residential projects, Soleste Club Prado in West Miami offering luxury residences for rent in the heart of West Miami- minutes from Coral Gables, Coconut Grove and Downtown Miami.

With state of the art amenities and finishes, Soleste Club Prado bring you the style and conveniences of urban living while maintaining the essence of a boutique neighborhood.

Soleste Club Prado is an eight-story, mid-rise multifamily asset completed in 2016. The 196-unit community offers a mix of one-, two- and three-bedroom units. The average unit is 862 square feet. The average market rent is $2,170 ($2.52 per square foot). The property is currently 80 percent leased.

Soleste Club Prado has an expansive amenity package and caters to a wide variety of residents ranging from young professionals to families who seek an upscale lifestyle. Community features include a hotel-inspired pool with spa, sun deck, and private cabanas; outdoor kitchen and bar; resident lounge complete with cyber café, business center and demonstration kitchen; kids gaming zone; rooftop serenity garden; state-of-the art health and fitness club, high-tech cardio equipment and free weights; Fitness On Demand, yoga and spin studio; dry sauna and steam room; and controlled-access garage parking

“Soleste Club Prado is located in a community steeped in rich Miami culture and near the historic Biltmore Hotel. The dynamics of the location will appeal to investors from New York and around the globe. We are anticipating significant interest.” Robert Given, Cushman + Wakefield

For the full article and more info : www.meyer.media/2017/01/27/cushman-wakefield-selected-market-soleste-club-prado/

Avra Jain, Mattoni Group’s plans for the Bayside Motor Inn in MiMo move forward

The Miami Historic and Environmental Preservation Board signed off on Tuesday on redevelopment plans for the Bayside Motor Inn, a shuttered hotel in the city’s MiMo neighborhood.

A partnership between the Mattoni Group and Avra Jain plans to convert the property into a mixed-use site with retail, restaurants and offices.

The historic preservation board granted a request by 5101 RE CO LLC, a company owned by Mattoni Group principal Ricardo Caporal, to demolish a 6,430-square-foot building on the northern part of the property at 52nd Street and Biscayne Boulevard. 5101 RE CO wants to replace it with a new three-story building totaling 18,994 square feet that would have ground floor retail and offices on the top two floors. The existing three-story hotel on the southern part of the property at 5101 Biscayne Boulevard will be preserved.

“Having been involved in MiMo, this is an opportunity to create things people have asked for,” Jain told the board members. “We have put down an ambitious project within the constraints of MiMo standards.”

Built in 1952, the Bayside Motor Inn has 40 rooms in a building totaling 13,511 square feet. Under its plan, 5101 RE CO would convert the ground floor into restaurants, enhance the courtyard and keep a small number of hotel rooms on the second floor. The project also includes 60 parking spaces, of which 37 are underground. Jain sold the site to 5101 RE CO for $4.05 million in June of last year.

During the hearing, MiMo Biscayne Association President Deborah Stander questioned whether the demolition of the northern building was really necessary. “Our main concern is really primarily questioning if the demolition was unavoidable,” Stander said. “I believe there is legitimate concern whether that north wing should be demolished.”

Jain told the board that the northern building had sustained significant fire, water and termite damage, necessitating the teardown. “I can tell you without a doubt that the building is not worth saving,” she said.

https://therealdeal.com/miami/2017/02/08/avra-jain-mattoni-groups-plans-for-the-bayside-motor-inn-in-mimo-move-forward/

Historic Miami redevelopments: Jain proposes changes to MiMo hotel, revamp for Design District building

Developers for two major redevelopment proposals will seek final approval for their projects before the Miami Historic and Environmental Preservation Board on Feb. 7. One partnership aims to build a hotel redevelopment in MiMo with neighborhood pioneer Avra Jain and another applicant wants convert a building near the Design District to full retail.

The MiMo (Miami Modern) neighborhood along Biscayne Boulevard north of downtown Miami has attracted new restaurants and retail as older properties, such as Jain’s Vagabond Hotel, have been revamped. Now she wants to take the Bayside Motor Inn at 5101 and 5125 Biscayne Blvd., which has been closed for several years, and reinvigorate the site with retail, restaurants and offices.

Built in 1952, the two-story hotel totals 13,511 square feet and previously had 40 rooms. A company controlled by Jain sold the 29,360-square-foot site in June 2016 for $4.05 million to 5101 RE CO LLC. The owner is a partnership between Ricardo Caporal-led Mattoni Group and Jain.

Urban Robot Associates designed the MiMo project.

Under the plans, the 6,430-square-foot building on the northern part of the site along Northeast 52nd Street would be torn down, as the city considers it a non-contributing structure to the historic building to the south. That building is in really bad shape, Jain said.

In its place, the developer would build a three-story building of 18,994 square feet. The new building would have 4,908 square feet of retail on the ground floor and 14,086 square feet of offices on the top two floors.

“They want more activity for neighborhood and office is a really nice fit,” Jain said. “People are there during the day and supporting the restaurants and local businesses.”

Jain recently converted the South Pacific hotel in MiMo to office space and her group owns the 5555 Biscayne Blvd. office building. She said office tenants like MiMo because it’s easier to access than Brickell and many restaurants that are attractive to employees.

The developer would provide 60 parking spaces, including 37 in a new underground garage. While the underground garage would be expensive, Jain said it was important to provide enough parking so the project doesn’t negatively impact the neighborhood.

“Because of the rents and demand for retail and office in the neighborhood, the market has told us it supports spending the money,” Jain said. “Given the demand for Biscayne Boulevard, a lot more things are economically feasible to do.”

As for the existing Bayside Motor Inn building, Jain said she would convert its ground floor to restaurants, enhance the courtyard, and keep two or three hotel rooms on the top floor. That building previously had 18 hotel rooms.

“You can’t really run a hotel with 18 rooms,” Jain said. “The fixed costs are too high. That is why a lot of motels lend themselves to adaptive reuse.”

Attorney Iris Escarra represents 5101 RE CO LLC.

Building near Design District could be converted to retail

A building in the Buena Vista East Historic District, on the northern end of the Design District, could be almost completely revamped for retail use.

Luxury retailers have flocked to the Design District as Craig Robins’ Dacra has redeveloped much of the neighborhood. The district has some of the highest rents and property values in Florida.

In April 2016, 4141 Design LLC, owned by Remy Jacobson, paid $10.5 million for the 15,901-square-foot office building at 4141 N. Miami Ave. The three-story building was built on the 9,700-square-foot lot in 1961. In November 2016, the developer started interior demolition of the building, according to county records.

The application seeks to lift a restriction that the building have no more than 4,000 square feet of commercial use so that it could be completely retail in use.

Under the plan crafted by Shulman + Associates, the developer would remove the building’s existing masonry and replace it with glass panels, leaving only the “turning forks” that line its walls. A rooftop terrace would be built for open-air events. The stairs at the main entrance would be removed and the doorway would be lowered to ground level. Behind the building on the east side, the developer would add two entrances, new windows and balconies and a garden patio. On the south side of the building, the developer would install a window spanning all three stories.

Essentially, the enclosed office building could become a glass-encased retail space.

Miami attorney Ryan Bailine, who represents 4141 Design LLC in the application, declined comment.

http://www.bizjournals.com/southflorida/news/2017/02/03/historic-miami-redevelopments-jain-proposes.html

ZOM Florida Break Grounds on Luxury Garden Apartments in Tampa

ZOM Florida, in partnership with affiliates of The Mattoni Group and New York-based Clarion Partners, LLC on behalf of a commingled fund managed by the firm, recently broke ground on AZOLA AT MAGNOLIA PARK, a 366-unit multifamily apartment community located on Progress Boulevard near the Interstate 75/Highway 301 interchange and South Falkenburg Road. This expanding south Brandon/Riverview submarket is home to a growing number of corporate employers, such as Progressive Insurance, Spectrum (formerly Brighthouse), and USAA, which is bringing over 1200 new jobs to the area. An array of retail and entertainment venues is anchored by the nearby Westfield Brandon Mall and has attracted new merchants such as Bass Pro Shop and Top Golf.

“We are excited to partner again with Clarion Partners on a Florida project and start a new capital partner relationship with The Mattoni Group,” said Kyle Clayton, ZOM Florida’s Development Vice President. “Our project site has excellent access to retail and employment centers and is also convenient to downtown Tampa via the Selmon Crosstown Expressway. Azola will bring a new level of quality, unit features and amenities to this desirable suburban neighborhood.”

Mattoni Group’s President Ricardo Caporal added, “We are very bullish on the Tampa market. This is our second development venture here. ZOM will deliver a first class project, and we are excited to be partnering with both ZOM and Clarion Partners.”

Azola is expected to deliver first units in Q4 2017, with pre-leasing starting in late summer 2017. Construction financing was provided by the Orlando office of Synovus Bank.

http://www.prweb.com/releases/2016/12/prweb13932950.htm