Bruce Eichner with a rendering of the Bay Harbor Islands project (Credit: Hayes Davidson)
UPDATED, May 18, 9:35 p.m.: Continuum South Beach developer Ian Bruce Eichner acquired two waterfront sites from Bay Harbor Islands-based Taubco, with plans to build two condo projects.
Eichner’s Continuum Company paid $29.5 million for the land at 9201 and 9461 East Bay Harbor Drive, according to a press release. He’s planning to build two buildings with a combined 142 units with 34 boat slips on the sites. Eichner expects there will be a six-month to one-year lag before he begins on the second project.
The land sale, years in the making, “really puts me back in Miami,” Eichner said. He completed the Continuum South Beach towers in 2002 and 2008. The New York developer has also been searching for a site in downtown Miami and joined TSG Group on a planned project in Brickell.
Stephen Ross (Getty, Related)
Formula One’s plan to race in Miami starting next year has developers and brokers ready to kick their marketing efforts into high gear to appeal to the fast-driving crowd.
Efforts to bring the elite race to Miami culminated this month with a city vote that clinched a 10-year deal at Hard Rock Stadium with Related Companies’ chairman and founder Stephen Ross. The approval followed years of negotiations and opposition.
Exotic cars are synonymous with high-end Miami real estate and nightlife, and F1’s fan base could bring thousands of new prospective buyers to South Florida. For developers, brokers and hotels, the opportunities for sales, sponsorships, booths, events, partnerships and more seem endless.
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“I’ve always loved the city, but the most interesting parts aren’t in the center. They’re at the edges. The edges are where the city relaxes, where you find a sense of perspective. At the edge of possibility.” (Valerio Morabito on Onda Residences)
There was a time in the months after the pandemic began when roughly 1,000 Northerners moved to Florida every day. Miami is healthy, safe and peaceful. It offers new opportunities. It has lovely weather and water access.
Valerio Morabito, CEO of developer Morabito Properties, and Ugo Colombo, president of CMC Group, have long been drawn in by Miami’s beauty, and in 2018 they staked a plot on the West Island in Bay Harbor Islands and began to develop 41 luxury bayfront residences in a seven-story building. This would be a boutique building with an intimate feel. It would be close to parks and the beach, fronting the water, with 16 private slips for boating and direct ocean access through Haulover