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Fontainebleau Miami Beach's $975 CMBS Loan Entered Special Servicing March 30

Fontainebleau Miami Beach's $975 Million CMBS Loan Entered Special Servicing March 30

April 22, 2020

The $975 million commercial mortgage-backed security loan (CMBS) issued in November 2019 for the 846-room Fontainebleau Miami Beach, located at 4441 Collins Ave., entered special servicing on March 30. When issued the loan was the largest CMBS hotel loan in South Florida.

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In Commercial, Hotels, Invest, Investment News, Finance & Banking, Miami Beach, News, South Beach Tags Fontainbleau, Fontainbleau Development, Fontainebleau, Fontainebleau Miami Beach, Fontainebleau Development, CMBS, Mortgage, Banking, Financing, Finance, Finance & Banking, Special Servicing, Hotels, Hotel, Commercial, News, Investment News, Invest, Jeff Soffer, Jeffrey Soffer, Turnberry Associates, 4441 Collins Ave., Miami Beach, South Beach, Featured
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Beaches in Miami-Dade County have been closed.

Beaches in Miami-Dade County have been closed.

Tracking COVID-19 By The Numbers: Breaking News In South Florida

March 27, 2020

(Last Updated 6:14 AM 3/27/2020):

BREAKING: 

  • City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)

  • Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)

  • All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

Continue to check back for updates to below as we continue to track COVID-19 across South Florida:  

Stats:

  • Number of Cases in Florida: 830+ (3/23/2020)

  • Fatalities in Florida: 13+ (3/23/2020)

  • Number of Global Cases: 351,000+ (3/23/2020)

  • Global Fatalities: 15,321+ (3/23/2020)

  • Number of U.S. Cases: 35,075+ (3/23/2020)

  • Fatalities in the U.S.: 458+ (3/23/2020)

Miami-Dade County:

  • Miami-Dade County # Cases: 2900+ (3/27/2020)

  • BREAKING: Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)

  • CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)

  • Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)

    • All bars and nightclubs will be closed for 30 days.

    • Restaurants will only be able to operate at half capacity.

    • Exceptions granted if they have a capacity of 10 people or less.

    • Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.

  • Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)

    • Miami-Dade Public Schools have closed this week and next. (3/16/2020)

  • Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)

  • Officials have closed the beach from 5th to 15th Street, including Lummus Park.

  • All city parking garages are closed to non-residents.

  • In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)

    • Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.

  • An entertainment district curfew will go into effect at 11 p.m.

  • All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.

  • Ultra Music Festival has been cancelled.

  • Miami Music Week has been cancelled.

  • ArtScape Concert has been cancelled.

  • The Miami Open Tennis Tournament has been cancelled. 

  • University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)

  • University of Miami Spring Commencement postponed until December. (3/20/2020)

  • The Hardrock Seminole Hotel & Casino has suspended entertainment operations. 

  • Calle Ocho Festival has been cancelled.

  • Mayor Francis Suarez has confirmed that he has COVID-19.

Broward County:

  • Broward County # Cases: 180+ (3/23/2020)

  • Broward County Public Schools are now closed through at least April 15. (3/19/2020)

  • Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.

  • Restaurants and bars must close by 10 p.m.

  • Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.

  • The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.

  • The Wharf Fort Lauderdale is closed until further notice.

  • The listed measures will remain in effect until April 12.

Palm Beach County:

  • Palm Beach County # Cases: 59+ (3/23/2020)

  • Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)

  • Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)

  • Beaches will be closed on Tuesday 3/17/2020

  • Nursing Homes and Assisted Living Facilities are closed to visitors.

  • Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)

National:

  • BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.

  • United States of America # Cases: 35,075+ (3/23/2020)

  • United States of America Fatalities: 458+ (3/23/2020)

  • Income tax filing deadline moved to July 15 (3/20/2020)

  • Foreclosures and HUD evictions have been halted for 60 days.

  • CDC recommends ban on gatherings of 10+ people. 

  • The Players Championship was cancelled & PGA Tour is suspended.

  • NBA, NHL, MLB and MLS have suspended their seasons. 

  • All ski resorts have closed.

In Affordable Housing, Brickell, Closed, Commercial, Community, Construction, Construction News, Downtown, Education, Fort Lauderdale, Hospitality, Hotels, Key Biscayne, Market Report, Miami Beach, Miami-Dade County, Multifamily, N Miami Beach/ Aventura, New Construction, News, North Miami, Palm Beach, Palm Beach County, PortMiami, Public Health, PSA, Restaurants, Retail, Senior Living, South Beach, Travel Tags COVID-19, COVID19, Coronavirus, Mayor Carlos Jimenez, Mayor Francis Suarez, Featured
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Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

March 21, 2020

Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. The announcement comes as Miami’s next step in curbing the spread of COVID-19 which has now surpassed 560 cases in Florida and over 123 in Miami-Dade.

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In Hotels, Hospitality, Miami Beach, Miami-Dade County, News, Public Health, South Beach, Brickell, Downtown, Doral, Sunny Isles, Coral Gables Tags Miami Beach, South Beach, News, COVID-19, COVID19, COVID, Coronavirus, Public Health, Mayor Dan Gelber, Miami, Miami-Dade County, Jimmy Morales, Carlos Gimenez, Coral Gables, Downtown, Downtown Miami, Sunny Isles, Sunny Isles Beach, Brickell, Featured
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The Grand Hyatt Selected as Flag for New Miami Beach Convention Center Hotel

February 24, 2020

The development team behind Miami Beach’s new Convention Center hotel announced today that the 800-room property will be operated by Hyatt under the luxury Grand Hyatt brand, when it opens to guests in 2023. Grand Hyatt Miami Beach will create a new hospitality option for visitors attending events at the adjacent Miami Beach Convention Center, which underwent a $600 million renovation that was completed last year, and will anchor the Convention Center District.

The new hotel will become the second Grand Hyatt property in Florida, joining Grand Hyatt Tampa Bay. Grand Hyatt hotels are designed to connect guests with iconic experiences, landmarks and cultural touchstones in captivating destinations around the world. Hallmarks of the brand include bold and vibrant design and architecture, elevated amenities and welcoming service that creates moments of more.

The hotel development is being led by David Martin of Terra and Jackie Soffer of Turnberry, whose plans for the hotel were overwhelmingly approved by Miami Beach voters in 2018. The 17-story hotel will be situated at the intersection of 17th Street and Convention Center Drive, within walking distance of the beachfront, Lincoln Road Mall, New World Symphony, The Bass Museum and The Fillmore Miami Beach.

“For years, Miami Beach has served as a global destination for arts, culture, shopping, dining and entertainment, but the City has lacked a true headquarters hotel for top-tier conventions and meetings,” said Martin and Soffer. “South Florida’s first Grand Hyatt hotel will maximize Miami Beach’s investment in its re-imagined Convention Center while bridging the physical gap that exists between the Convention Center District and surrounding neighborhoods.”

 Grand Hyatt Miami Beach will be designed by architect Bernardo Fort-Brescia and his firm, Miami-based Arquitectonica. The development team also includes partner Craig Robins of Dacra, who is the visionary behind the Miami Design District and helped revive Miami Beach’s Art Deco District in the 1990s; Stonehill Taylor, which is designing the hotel’s interior lobby and lounges, ballroom and meeting rooms, hotel rooms and all common areas; EOA, which is designing the pool deck hospitality features of the hotel; and Arquitectonica GEO, which is creating lush pedestrian promenades and landscapes.

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Hotel features are expected to include 12 floors of guest rooms offering views of Miami Beach, two floors of meeting spaces and ballrooms that will complement the Convention Center, a resort-style pool deck with panoramic views, and limited retail space that will activate the district at street level. An elevated skybridge will enable event attendees to move freely between the hotel and Convention Center in a climate-controlled, art-filled corridor. 

Plans also include landscaped pedestrian promenades on surrounding streets, bike sharing stations, connectivity with public transit routes, dedicated ridesharing pick-up and drop-off zones, and direct access between the Convention Center and Lincoln Road. The project’s resiliency and sustainability measures include storm water management and reuse, flood risk mitigation, and the use of solar power – all of which are designed to ensure operational continuity during weather events.

“The Greater Miami Convention & Visitors Bureau (GMCVB) joins Terra, Turnberry and The City of Miami Beach in welcoming the Grand Hyatt Miami Beach as the newly named brand for the 800-room headquarter hotel connected to the Miami Beach Convention Center,” said William D. Talbert, III, CDME, President of the GMCVB.  “Grand Hyatt Miami Beach makes it possible to better compete for citywide conventions which fuel jobs in our community and generates business for all of Greater Miami’s hotels and merchants. We look forward to the hotel ground-breaking which once completed will finalize the Miami Beach Convention Center District.” 


By Katya Demina

In City Owned Land, Commercial, Community, Construction, Government Contracts, Hospitality, Hotels, Miami Beach, New Construction, Public Space, South Beach, Travel Tags Grand Hyatt, Hyatt, Convention Center Hotel, Miami Beach Convention Center, Convention Center District, David Martin, Jackie Soffer, Bernardo Fort-Brescia, Arquitectonica, Craig Robins, Dacra, Stonehill Taylor, EOA, ArquitectonicaGeo, Greater Miami Convention & Visitors Bureau, GMCVB, William Talbert, Featured
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Legacy Hotel & Residences Reveals New Renderings With Construction Set To Begin Summer 2020

Legacy Hotel & Residences Reveals New Renderings With Construction Set To Begin Summer 2020

February 17, 2020

On the heels of Miami-based real estate developer Royal Palm Companies (RPC) officially launching sales for Downtown Miami’s newest mixed-use tower, Legacy Hotel & Residences, las month, the developer has now released new renderings and plans on breaking ground in the Summer of 2020 with completion estimated for the Fall of 2023.

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In Architecture, Amenities, Commercial, Construction, Construction News, Construction Update, Design, Downtown, Hospitality, Hotels, Mixed Use, New Construction, News, Residential Tags OneWorld Properties, Peggy Olin, Legacy Hotel & Residences At Miami Worldcenter, Legacy Hotel & Residences, Dan Kodsi, Royal Palm Companies, Downtown, downtown, News, New Construction, Commercial, Hotels, Hotel, Hospitality, Mixed Use, Design, Design Update, Architecture, Miami World Center, Miami Worldcenter, Residential, Micro-Units, microLUXE, Amenities, Construction Update, Construction News, Construction, 942 NE 1st Ave., 942 Northeast First Avenue, Featured
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Touzet Studio-Designed Urbin Retreat Miami Beach Proposed on Washington Ave.

Touzet Studio-Designed Urbin Retreat Miami Beach Proposed on South Beach

January 20, 2020

Urbin Retreat, designed by Touzet Studio, has submitted its final proposal to Miami Beach’s Historic Preservation Board and Planning Board. The proposal says that Urbin Retreat will offer “affordable global mobility through responsible green living and working in urban centers.”

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In Commercial, Historic, New Construction, News, Miami Beach, Hotels, Hospitality, Residential, Retail, Restaurants, South Beach Tags Touzet Studio, Urbin Retreat, Urbin Retreat Miami Beach, South Beach, Miami Beach, Co-Living, Hotel, Hotels, Hospitality, Commercial, News, New Construction, Retail, Restaurants, Residential, Historic Preservation Board, Historic, Miami Beach Historic Preservation Board, Featured
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Rannan Katz's RK Associates Proposes R.K. Center Megaproject in Fort Lauderdale

Rannan Katz's RK Associates Proposes R.K. Center Mega-Project in Fort Lauderdale

January 16, 2020

Rennan Katz’s RK Associates has proposed R.K. Center, a 5-tower mega-project in Fort Lauderdale. The proposal would replace a former Sears and is currently being reviewed by Fort Lauderdale’s Design Review Committee. R.K. Center would feature restaurants and street front retail along with 5 mixed-use towers featuring office space, retail, hotel and residential apartments.

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In Commercial, Fort Lauderdale, Hospitality, Hotels, Mixed Use, New Construction, News, Retail, Restaurants, Office Space Tags Mega Project, Rennan Katz, RK Associates, R.K. Center, Fort Lauderdale, Commercial, Retail, Office Space, Hotels, Hotel, Hospitality, News, New Construction, Fort Lauderdale Design Review Committee, Mixed Use, Featured
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One Eleven Wynwood Hotel - Side View.jpg

Here Comes Wynwood’s First Hotel: One Eleven Wynwood by Sonder

December 13, 2019

BH Investment Group (BHIG), a US-based real estate private equity, investment and development company, along with partners Andres Hogg and Eduardo Vargas have announced One Eleven Wynwood Hotel by Sonder, which will be the first hotel delivered in the burgeoning Wynwood neighborhood.

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In Hospitality, Hotels, Wynwood, New Construction, News, Commercial Tags Sonder, BH Investment Group, Andres Hogg, Eduardo Vargas, One Eleven Wynwood, wynwood hotel, DSS Construction, RDR Architects, Alain Bartoli, Sam Artmann, Wynwood, New Construction, News, Hotels, Hotel, Commercial
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OKO Group and Access Industries To Develop Aman Hotel & Residences At Versailles Hotel Completing Faena District

OKO Group and Access Industries To Develop Aman Hotel & Residences At Versailles Hotel Completing Faena District

December 9, 2019

OKO Group and Access Industries announced today a joint venture to develop and build an Aman hotel and Aman-branded residences on Miami Beach, on the site of the former Versailles Hotel, in two buildings at 3425 Collins Ave. 

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In Commercial, Hotels, Hospitality, Miami Beach, News, New Construction, Residential, South Beach Tags 3425 Collins Ave., Faena Versailles, Faena District, Faena, Aman, Aman Hotel, Aman Hotel South Beach, Versailles Hotel, News, Commercial, Hotels, Featured, OKO Group, Aman Hotel & Residences Miami Beach, Access Industries, Len Blavatnik, Jonah Sonnenborn, Vladislav Doronin, Hotel, Hospitality, Miami Beach, South Beach, Residential, New Construction
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Check+Out+The+Hotel+Addition+Proposed+Atop+The+Sterling+Building+On+Lincoln+Road

Check Out The Hotel Addition Proposed Atop The Sterling Building On Lincoln Road

November 22, 2019

Sam Herzberg has proposed a 144 room hotel addition atop The Sterling Building located at 927-929 Lincoln Road, home to the popular Books and Books Cafe. The Miami Beach Planning Board will review the proposal at their December 17th meeting, which came following the city approving an increase in building height from 50’ to 75’ on the north side of Lincoln Road as well as to allow smaller units down to 200 SF.

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In Commercial, Design, Hotels, Hospitality, Miami Beach, News, New Construction, South Beach Tags The Sterling, News, Lincoln Road, Miami Beach, South Beach, Historic, Miami Beach Planning Board, Hotel, Hotels, Commercial, Kobi Karp, Hospitality, Sam Herzberg, Books And Books, Design, Design Update, New Construction, Featured
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