The Art of Discovery: Justine Wheeler Koons Emerges From the Shadows

By Columbus International,26 February 202526 February 2025

In the vibrant landscape of New York’s art scene, a powerful new voice has emerged – one that has been quietly developing in the wings of one of contemporary art’s most recognizable names. Justine Wheeler Koons, wife of the renowned Jeff Koons, has unveiled her debut solo exhibition “Myth” at the prestigious Salon 94 gallery, marking a significant moment not just for the artist herself, but for the cultural tapestry of New York City.

At Columbus International, where we connect discerning clients with extraordinary spaces across New York, Miami, Milan, and Florence, we understand that true luxury is found in authenticity and self-expression. Wheeler Koons’ exhibition presents twelve meticulously crafted glazed stoneware sculptures that reveal a deeply personal artistic journey.

In an essay by William J. Simons, Wheeler Koons spoke of the works in the exhibition as “a personal archaeology, a journey to uncover what lies within, hidden beneath the mass of accumulated experiences.” This sentiment resonates with our approach to real estate – every property tells a story, every space holds possibilities waiting to be uncovered.

The exhibition features what Salon 94 founder Jeanne Greenberg Rohatyn describes as “a blue torso of Venus—irresistibly covered in carved replicas of toys, shaped cookies, and beads.” This striking piece exemplifies Wheeler Koons’ unique aesthetic vision.

For those who navigate New York’s elite cultural circles, Wheeler Koons has long been a fascinating presence. While her husband’s sculptures have dominated museum spaces and broken auction records, Justine has cultivated her own creative path. Since 2015, she has run the jewelry line Gus & Al with Alison Brokaw, and her colorful artworks have been featured in Harper’s Bazaar and The New York Times.

What makes this exhibition particularly compelling is the artist’s journey. In a 2015 interview with Harper’s Bazaar, Wheeler Koons revealed how she returned to painting after suffering postpartum depression following the birth of her youngest son. “For the first time ever, I just knew I had to save myself somehow, and the only way I could think of was going back to the studio and painting so there was something of me left in the picture. Painting is quite a healing process,” she shared.

Wheeler Koons described to Harper’s Bazaar how, after taking “a ton of photos” while traveling with her family, she would composite them into a collage. “It has a narrative and a story for me—a lot about looking and being looked at and ways of masking yourself.”

When asked if her works would ever be on display in a gallery, Wheeler Koons candidly replied, “I don’t think I can. Jeff has a very big shadow. He casts a really big shadow. That’s why I wanted to do the jewelry. It’s creative but completely different from Jeff’s work.”

Now, years later, Wheeler Koons has stepped confidently into the spotlight with sculptures that speak to her unique perspective as an artist, mother, and curator.

For our clients at Columbus International, Wheeler Koons’ artistic emergence parallels the journey many take in finding their ideal home – moving beyond expectations to discover authentic self-expression. Her work reminds us that the most meaningful spaces, like the most meaningful art, reflect not just aesthetic preferences but personal histories and aspirations.

“Myth” opened on February 19th, presenting twelve glazed stoneware sculptures all produced in 2024 or earlier this year. For collectors, design enthusiasts, and those who appreciate the intersection of art and life, the exhibition offers a rare opportunity to experience the debut of an artist who has been developing her vision while balancing family life and her own creative pursuits.

Source and Images: Salon 94

Columbus International is a luxury real estate boutique with offices in New York, Miami, Milan, and Florence, specializing in exceptional properties for discerning clients who value authenticity, culture, and uncompromising quality.

NYC Retail Surge: IBM Building On Sale as Madison Avenue Booms

By Columbus International,24 February 202524 February 2025

Historic IBM Building Hits Market at $1.1 Billion While Madison Avenue Retail Flourishes

In a pivotal moment for Manhattan’s trophy office market, the iconic 590 Madison Avenue – long known as the IBM Building – has been put up for sale with an ambitious $1.1 billion price tag. The State Teachers Retirement System of Ohio, which acquired full ownership of the property in 2015 after initially purchasing it with Edward J. Minskoff Equities in 1994, has enlisted Eastdil Secured to market the prestigious asset.

The 41-story, 1-million-square-foot Midtown tower represents the first potential billion-dollar investment sale in New York City in two years. The timing is particularly significant as it coincides with a reinvigorated retail leasing landscape across key Manhattan corridors, according to the latest Real Estate Board of New York (REBNY) report.

This is a watershed moment for Manhattan commercial real estate. The IBM Building sale will be closely watched as a barometer for how investors truly value premium Manhattan assets in the post-pandemic landscape.

While IBM itself has relocated to SL Green’s One Madison Avenue development, the property at 590 Madison continues to attract blue-chip tenants. Luxury conglomerate LVMH recently secured 150,000 square feet across four office floors at an impressive asking rent of $190 per square foot, with potential plans to expand into the building’s retail space.

Other notable tenants include Reverence Capital Partners, E.F. Hutton, and Crestview Partners. Edward J. Minskoff Equities, which continues to manage the property, is transforming IBM’s former client-facing space into premium amenities available to all tenants.

Madison Avenue’s Retail Renaissance

The iconic tower’s sale coincides with a remarkable retail recovery along Madison Avenue, particularly in the luxury corridor between 60th and 76th streets, where storefronts are nearly fully leased with prestigious brands like Giorgio Armani and Van Cleef & Arpels.

“Madison Avenue has maintained its position as one of Manhattan’s most in-demand retail destinations,” notes the REBNY report. The area has benefited from fashion retailers new to the city, including Boggi Milano at 527 Madison, part of a trend that accounted for 20% of major recent leasing deals.

The retail revival extends beyond Madison Avenue, with seven blocks of Bleecker Street in the West Village approaching full occupancy. Rockefeller Center’s retail space is now completely leased, with a new Eataly Cafe expected to open this year.

However, the recovery remains uneven. Despite increased demand, “asking rent in every corridor except Bleecker Street is at least 10% below its pre-pandemic peak,” according to REBNY’s research head Keith DeCoster. Certain areas, including Midtown Third Avenue, Times Square, and Herald Square, continue to face challenges.

IBM’s Strategic Relocation

IBM’s move from its namesake building to One Madison Avenue has helped energize the eastern portion of the Flatiron District. The tech giant’s relocation is part of a broader trend of companies seeking modernized office spaces with state-of-the-art amenities.

IBM’s new home at One Madison represents the evolution of corporate office demands in the post-pandemic era. This shift has created a domino effect of positive retail activity throughout the neighborhood.

All of One Madison’s storefronts are now leased, including to celebrated chef Daniel Boulud’s new La Tete D’or steakhouse, further enhancing the area’s appeal.

The REBNY report identified multiple factors driving Manhattan’s retail resurgence in the latter half of 2024, including a strong jobs market, healthy tourism, and “back-to-office momentum.” These elements have contributed to several large-scale retail deals, including Ikea on Fifth Avenue and Burlington on Sixth Avenue’s Ladies Mile, some spanning up to 80,000 square feet.

As Manhattan’s retail and office landscapes continue their evolution, the pending sale of 590 Madison Avenue stands as a critical test of investor confidence in New York City’s commercial real estate market. Whether the property achieves its ambitious $1.1 billion asking price could set the tone for trophy asset valuations throughout 2025.

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Looking for premium retail investment opportunities in New York City?

As Manhattan’s commercial real estate market shows signs of recovery with landmark properties changing hands and retail corridors thriving, now is the strategic time to position your portfolio for growth. The real estate specialists at Columbus International offer unparalleled expertise in NYC’s dynamic retail landscape.

Our team of seasoned professionals provides:

Exclusive access to off-market retail opportunities
Comprehensive market analysis and valuation services
Strategic acquisition and disposition guidance
Expert tenant placement and lease structuring
Custom investment strategies aligned with your financial goals

Whether you’re interested in Madison Avenue luxury retail, emerging neighborhood corridors, or trophy mixed-use properties, Columbus International delivers personalized service with global perspective.

Contact us today to explore NYC’s most promising retail investment opportunities:

Email: info@columbusintl.com
Phone: (+1) 212.327.0160
Website: www.columbusinternational.com

Columbus International Real Estate – Your Gateway to Premium New York City Investments

From Medieval Castles to Fashion Palazzos: Luxury Gastronomy Reshapes Italian Real Estate

By Columbus International,21 February 202521 February 2025

Columbus International, with its signature expertise in luxury real estate across New York, Miami, Milan and Tuscany, continues to witness how exceptional dining experiences are transforming historic properties into world-class destinations. Two recent developments highlight this trend that savvy real estate investors should note.

Castello di Fighine: A Medieval Marvel Reborn Through Gastronomy

In the heart of Tuscany’s Val d’Orcia, an extraordinary transformation has occurred. What began in 1266 as a fortress granted by Frederick II of Swabia to Tancredi Campiglia has evolved into one of Italy’s most exclusive gastronomic destinations.

The once-abandoned medieval hamlet of Fighine has been meticulously restored to offer 34 luxury accommodations spread across five elegantly designed villas, two apartments, and various historic structures including a consecrated 18th-century church. The conservative yet luxurious interior design by international designers David Mlinaric and Hugh Henry creates an atmosphere of authentic country elegance with functional luxury.

At the heart of this renaissance is the Michelin-starred restaurant Castello di Fighine. Under the guidance of three-starred chef Heinz Beck (of Rome’s La Pergola) and led by talented head chef Francesco Nunziata, the restaurant offers sophisticated tasting menus (€130 for 5 courses, €150 for 7 courses) featuring locally sourced ingredients, many from the property’s organic garden.

Dining here means experiencing culinary mastery within two-meter thick stone walls, where dishes like the “Cappelletti alla Genovese with balsamic vinegar and Parmigiano fondue” blend regional Italian influences with technical precision. The restaurant’s intimate setting, with well-spaced tables and views of the surrounding greenery, creates an atmosphere of protected exclusivity.

Louis Vuitton Brings Luxury Dining to Milan’s Fashion District

Meanwhile, in Milan’s prestigious Quadrilatero della Moda, luxury fashion house Louis Vuitton is extending its brand into the culinary world with the opening of “DaV by Da Vittorio Louis Vuitton” this April. Located in Palazzo Taverna on Via Montenapoleone, the restaurant will be accessible from both the maison’s showroom and Via Bagutta.

This collaboration with the three-Michelin-starred Da Vittorio restaurant group marks Louis Vuitton’s first gastronomic venture in Italy, following successful dining establishments in France, Japan, China, and the United States. The Cerea family, owners of Da Vittorio, promise a blend of Italian culinary tradition with international creativity in a contemporary setting.

The restaurant will feature Louis Vuitton’s Art de la Table collections and design elements that blend the brand’s aesthetic with Italian cultural influences. While described as “casual dining,” this venture represents the growing intersection of high fashion and fine dining in premium real estate locations.

Columbus International: Pioneering Luxury at the Intersection of Real Estate and Lifestyle

For Columbus International’s discerning clients, these developments represent more than culinary news—they signal lucrative investment opportunities. Properties adjacent to such prestigious culinary destinations often see significant appreciation in value.

In Tuscany, Columbus International has long specialized in identifying and representing historic properties with restoration potential similar to Castello di Fighine. Our expertise in navigating Italian restoration regulations and sourcing authentic materials has helped numerous clients transform ancient structures into luxury accommodations.

In Milan, our team’s intimate knowledge of the fashion district allows us to identify properties with potential for luxury brand partnerships or high-end commercial conversions. The Louis Vuitton restaurant exemplifies how historic palazzos can be reimagined for contemporary luxury experiences while maintaining their architectural integrity.

Whether you’re seeking a Tuscan estate with culinary potential or a Milan property in proximity to luxury retail and dining experiences, Columbus International’s boutique approach ensures personalized guidance through every aspect of acquisition, restoration, and potential commercial partnerships.

As these two distinctive developments demonstrate, the intersection of historic properties and exceptional dining creates a uniquely compelling value proposition in luxury real estate—an area where Columbus International continues to lead with unparalleled expertise and vision.

Palm Beach’s Luxury Real Estate Boom: How New York’s Elite Transformed a Market

By Columbus International,20 February 2025

Columbus International: Your Gateway to Premier Real Estate Markets

As a distinguished real estate boutique connecting the vibrant markets of New York, Miami, Milan, and Florence, Columbus International presents exclusive insights into luxury real estate trends. Our expertise in facilitating cross-market investments positions us uniquely to analyze emerging patterns in high-end property movements.

The transformation of Palm Beach’s real estate landscape tells a compelling story of wealth migration that began during the COVID-19 pandemic and continues to reshape Florida’s luxury property market. What started as a temporary exodus from Manhattan has evolved into a permanent shift in how high-net-worth individuals view their residential choices.

The surge in demand for Palm Beach properties has been nothing short of extraordinary. By April 2022, the median home price in this exclusive enclave of fewer than 10,000 residents reached an astounding $4.15 million. While prices have slightly adjusted since then, they remain significantly elevated compared to pre-pandemic levels.

This wealth migration from New York City has fundamentally altered the market dynamics in Palm Beach. Analytics reveal a striking trend: in 2019, New York-based viewers accounted for just 6.5% of Palm Beach County listing views. By 2023, this figure had surged to 19.6% – representing one in five potential buyers.

The impact of this migration becomes even more apparent when examining driver’s license data. In 2022 alone, 8,059 New Yorkers exchanged their licenses for Florida credentials in Palm Beach County. Perhaps more telling is that in 2021, 41% of all transplants to the area originated from New York City, bringing with them an average annual income of $728,000.

Entrepreneurship always flows to some new place, and COVID-19 broke long-established habits long enough to allow the formation of new ones, supercharging these migration patterns. The results are evident in the numbers: Palm Beach County’s median single-family home price jumped from $370,000 in 2019 to $665,000 in 2024 – an 89% increase.

The luxury segment has experienced even more dramatic growth. Between 2019 and 2024, sales of homes priced at $2,000 per square foot surged by 640%. Ultra-luxury properties, valued at $20 million or more, saw a 500% increase in sales during the same period. January 2025 alone recorded six transactions exceeding $20 million – more than the entire year of 2019.

The inventory landscape further reflects this transformation. From September 2019 to January 2025, while the median listing price nearly doubled to $2.9 million, the number of available homes priced above $1 million dropped by half, from 313 to 137.

This unprecedented market evolution stems from wealthy New Yorkers creating an appetite for product price points that basically didn’t exist before. The combination of limited buildable land and rising construction costs ensures that this high-end market transformation will likely persist, reshaping South Florida’s luxury real estate landscape for years to come.

Columbus International expertly navigates these evolving market dynamics, offering investors unique opportunities to establish roots in four of the world’s most prestigious real estate markets. Our boutique approach ensures personalized service while leveraging deep market knowledge across New York, Miami, Milan, and Florence.

Contact Columbus International to explore premium investment opportunities in these thriving markets: info@columbusintl.com

Source: New York Post

Investing in Milan’s Premier Real Estate? Salt Bae’s Latest Venture Highlights City’s Growth

By Columbus International,19 February 2025

For expert guidance on Milan’s luxury real estate market, contact Columbus International Real Estate, with offices in Milan, Florence, New York, and Miami. Our team of multilingual specialists offers unparalleled insights into Milan’s investment landscape.

Salt Bae Signs Deal for Luxury Milan Location, Confirming Italy’s Appeal to Global Investors

The expansion of celebrity restaurateur Nusret Gökçe—better known as Salt Bae—into Milan’s luxury hospitality scene represents more than just another dining establishment. It signals Milan’s continued strength as a prime location for premium commercial real estate investment.

After much speculation, the Turkish butcher-turned-global phenomenon has officially signed an agreement to open his newest restaurant in Casa Brera, a recently launched luxury hotel in Milan’s historic Piazzetta Bossi. This development marks a significant vote of confidence in Milan’s high-end commercial property market.

The luxury hospitality sector in Milan has shown remarkable resilience in recent years, with premium brands continuing to seek flagship locations in the city center. Salt Bae’s expansion follows this trend, with the restaurateur strategically establishing his Italian presence after previous openings in Rome and Naples.

The property deal was signed with real estate developer Giuseppe Statuto, owner of the Casa Brera property, rather than with the Marriott Group who manages the hotel operations. This arrangement highlights the complex ownership structures often seen in Milan’s premium hospitality sector.

Casa Brera, which opened in 2024 as the debut property for Marriott’s “Casa Brera” brand within its Luxury Collection, occupies a meticulously restored twentieth-century palazzo designed by Pietro Lingeri, with interiors by acclaimed designer Patricia Urquiola. The property already houses multiple dining concepts overseen by renowned chefs Andrea Berton and Haruo Ichikawa.

Industry observers note that Salt Bae’s restaurant will likely occupy the rooftop space currently home to Etereo, taking advantage of Casa Brera’s panoramic views and statement swimming pool. This strategic positioning aligns with the showmanship that has made Nusret’s restaurants global destinations.

Market Implications

The continued investment in Milan’s luxury commercial properties reflects the city’s enduring appeal as a fashion and design capital. High-profile restaurant openings like Salt Bae’s establishment tend to enhance surrounding property values and attract additional investment to neighborhoods.

The timing of this expansion is particularly notable as it demonstrates confidence in Milan’s post-pandemic recovery and long-term growth prospects in the luxury sector.

Source: Milano Today
Image: Instagram Nusr_et

The New Gold Coast: Miami’s Ultra-Luxury Real Estate Defies Market Logic

By Columbus International,16 February 202516 February 2025

Columbus International, your trusted real estate boutique specializing in Miami’s most exclusive properties, has witnessed firsthand the transformation of South Florida into a global ultra-luxury destination. With decades of experience in facilitating transactions for clients with various wealth levels and a deep understanding of local market dynamics, Columbus International stands out as the premier choice for discerning investors looking to capitalize on Miami’s unparalleled real estate boom.

What some might call a bubble, market experts define as the new normal in South Florida’s ultra-luxury real estate sector. As the region continues to attract global wealth and corporate relocations, nine-figure properties have become increasingly common in Miami-Dade and Palm Beach counties.

The first quarter of 2025 has already seen several properties commanding astronomical prices, both on and off the market. Among these prestigious offerings is the magnificent Banyan Ridge Estate, a 11,855-square-foot masterpiece in Coconut Grove, currently available at $135 million. Meanwhile, a rare three-house compound in Miami Beach has hit the market at $150 million, offering an unprecedented opportunity for the ultra-wealthy buyer seeking the ultimate in privacy and luxury.

The northern corridor of South Florida’s luxury real estate market is equally robust, with a remarkable spec house in Manalapan commanding attention at $285 million. Adding to the intrigue, sources indicate that a custom-built residence on the prestigious Indian Creek Island, owned by a prominent sports figure, might be quietly available at $150 million.

These stratospheric prices, while striking, reflect a fundamental shift in South Florida’s luxury real estate landscape since the pandemic. The region’s appeal to ultra-high-net-worth individuals, attracted by the favorable tax climate and year-round sunshine, has created a new benchmark for luxury properties. This trend was solidified when a prominent hedge fund billionaire acquired portions of his Palm Beach compound for over $100 million in separate transactions during 2019 and 2022.

In Naples, on the Gulf coast of the peninsula, a vast estate at 100 Bay Road, known as Gordon Pointe, made headlines last year when it was listed for $295 million. The asking price was subsequently reduced to $210 million. The latest record was set in Miami when an Australian infrastructure investor purchased 10 Tarpon Isle in Palm Beach for $152 million last May. Miami’s condo market is seeing similar prices. Notably, a well-known tech entrepreneur is said to be considering a $100 million condo in West Palm Beach.

Billionaires bring their businesses with them. Along with several Fortune 500 companies that have relocated to South Florida in recent years, last month Amazon signed a lease for 50,333 square feet of space at Miami’s Wynwood Plaza. But while some link the sky-high listings to a real estate bubble that experts warn is growing in Miami, according to the CEO of a major appraisal firm, these properties are in a category of their own.

“The super-luxury market segment has very little to do with the local real estate market,” says an expert. “A $150 million sale is a global listing.”

Agents are capitalizing on this momentum. There were seven closings over $100 million in 2024, the second-highest per year in US history after nine in 2021. And for every shocking list price that gets media attention, several other properties are kept secretly off-market.

The values of these properties haven’t quintupled overnight. A large amount of wealth has poured into Florida and the perception of value has changed.

The elections have also given confidence to the market. As is common nowadays, value is often perceived in terms of how little work a home needs. Defining the phenomenon as the “Uber or Amazon effect,” buyers want instant gratification: “A billionaire, for whom money is not an issue, seeks to save time and have the perfect home.”

With 13 bedrooms and 18 bathrooms, 3585 Anchorage Way boasts more than 180 feet of waterfront across seven lots on Biscayne Bay. The estate also features a century-old banyan tree, waterfalls, a saltwater fish pond, and an infinity pool.

The property on Indian Creek Island Road was built from scratch after purchasing the lot for $17 million in 2020. The bayfront home has a pool, a separate gym, and a cabana.

The property at 190 Palm Avenue comprises three mansions with a total of 21 bedrooms, plus three pools, parking for 20 cars, and 300 feet of waterfront with multiple docks.

The comparable prices are there because there have been, in the last six months, highly publicized and significant deals in this order of magnitude. Linear feet of ocean frontage are the new luxury, the new bragging rights.

Source: New York Post

Atelier Jolie: A Revolutionary Fashion Space Where Sustainability Meets Craftsmanship

By Columbus International,14 February 202514 February 2025

In the heart of New York City’s SoHo district, at 57 Great Jones Street – once Jean-Michel Basquiat’s studio – Angelina Jolie has launched a groundbreaking fashion venture that challenges industry norms. Atelier Jolie isn’t just another celebrity fashion brand; it’s a creative sanctuary where sustainability meets craftsmanship, bringing together diverse talents and innovative approaches to fashion.

https://www.youtube.com/shorts/4vjwmGHurSg

The historic building’s graffitied facade, a tribute to its artistic legacy, slides back during operating hours to reveal modern glass windows. Inside, the space is staffed by Parsons School of Design students and alumni, creating an environment where education meets innovation. The ground floor houses screen printing facilities, while the basement serves as a painting room. Upstairs, an airy atelier space with exposed wooden beams and vintage sewing machines welcomes clients for bespoke tailoring.

What sets Atelier Jolie apart is its democratic approach to luxury fashion. Customers can collaborate with skilled artisans to customize pieces from the house collection, which includes everything from fluid trench coats to crisp suiting, with prices ranging from $15 for customizable T-shirts to $575 for intricately designed maxi dresses. The space also showcases collections from various sustainable fashion brands, all available for personalization.

The atelier also partners with Eat Offbeat, a women-founded café that employs refugee chefs, adding another layer to its community-focused mission. The space features workshops on innovative upcycling techniques, proving that sustainable fashion can be sophisticated rather than simply “shabby chic.”

“There is so much happening that divides us, and it’s essential that we create and share time together,” Jolie explains. The atelier stands as a testament to this philosophy, offering not just a retail space but a creative hub where sustainability, craftsmanship, and community converge. Through collaborations with various visionaries and designers, Atelier Jolie is proving that ethical fashion can be both luxurious and accessible, paving the way for a more inclusive and sustainable fashion future.

Sources: Harper’s Bazaar | Forbes

Milan’s Real Estate Market in 2025: Premium Properties Soar as Older Buildings Decline

By Columbus International,13 February 2025

Italy’s financial hub continues to dominate the national real estate landscape, with growth projections cementing its position as a leader in the premium property market. A comprehensive analysis by Tecnocasa reveals an evolving market where property quality increasingly dictates valuation.

Market Overview

Milan continues to lead the Italian real estate sector, with projected price increases of 2-4% for 2025. This upward trajectory extends across most of Lombardy, with Sondrio being the only exception, facing a potential 3% decline.

Market Catalysts

According to Fabiana Megliola, Tecnocasa’s Head of Research, two key factors are driving market momentum: “Lower mortgage rates combined with recent Revenue Agency data point to a rebound in transactions for 2025.” The sector receives additional support from the Consap Fund’s mortgage guarantee program for young buyers, extended through 2027, which could stimulate entry-level market activity.

Growing Market Divide

A clear pattern is emerging: the market is splitting between high-quality properties and aging ones. Premium properties featuring superior energy efficiency and prime locations are expected to appreciate steadily. In contrast, properties requiring substantial renovation may face value depreciation, particularly given new European energy regulations and reduced renovation tax incentives.

Rental Sector Dynamics

The rental market exhibits robust growth, with rates trending upward due to strong demand. A notable shift is occurring as property owners consider moving from short-term to long-term rentals, potentially reshaping the sector’s landscape.

Investment Prospects

Milan’s real estate sector remains highly attractive to investors across both short-term and traditional rental markets. Tourist destinations continue to draw international investment, underscoring the resilience of the luxury property segment.

Strategic Outlook

2025 appears poised to be a year of market maturation in Milan’s real estate sector, with property quality emerging as the key determinant of investment success. Investors should prioritize construction standards and location – factors that will increasingly influence long-term value appreciation.

Miami’s Luxury Developers Pioneer New Era of Affordable Housing

By Columbus International,11 February 2025

South Florida’s explosive growth has intensified its housing affordability crisis, with Miami Homes For All reporting a shortage exceeding 90,000 homes for households earning below $60,000 annually. But an innovative state program is transforming how developers approach affordable housing in Miami, yielding communities that rival their market-rate counterparts in quality and amenities.

The Florida Live Local Act has emerged as a catalyst for change, offering tax incentives to developers who designate at least 71 units in their projects for households earning up to 120% of the area median income. This initiative marks a decisive break from Miami’s previous affordable housing model, which often compromised on design and amenities to minimize costs.

Today’s affordable developments showcase amenities previously reserved for luxury properties: pickleball courts, rooftop lounges, modern fitness centers, and children’s play areas. Inside the units, residents find high-end finishes including stainless steel appliances, expansive windows, and premium cabinetry.

“Miami-Dade faces the nation’s most severe affordability crisis,” says Michael Swerdlow of SG Holdings. His firm’s flagship project, Sawyer’s Walk, exemplifies this new approach. Located in historic Overtown, Miami’s oldest African-American neighborhood, this 1.5-million-square-foot mixed-use development stands as the country’s largest affordable housing project in the past decade. The community, designed for low-income seniors, integrates retail amenities like Target and Aldi while offering convenient access to multiple public transit options.

Laguna Gardens in Miami Gardens represents another milestone as one of the first developments completed under the Live Local Act. Developer Asi Cymbal partnered with renowned architectural firm Jo Palma and Partners to create 341 units that blend modern design with community-focused amenities, including lakeside trails and outdoor gathering spaces.

Looking ahead, Whitman Family Development’s planned Bal Harbour Shops project will dedicate 40% of its 600 upscale residences to workforce housing, targeting essential workers like teachers, first responders, and hospitality staff. Meanwhile, SG Holdings is developing an ambitious project in Little Haiti’s Little River District, planning 7,500 residential units across various affordability levels, complemented by retail space, green areas, and a new transit station.

“At this stage in my career,” reflects Swerdlow, “delivering quality housing to those who need it most creates the greatest impact in our community.” This sentiment captures the transformation underway in Miami’s affordable housing sector, where luxury developers are redefining standards while addressing critical community needs.

Source: Forbes

Miami’s Skyline Reaches New Heights With $850M Luxury Tower Project

By Columbus International,7 February 2025

In a bold move that signals continued confidence in Miami’s luxury real estate market, Mint Developers has unveiled plans for an ambitious $850 million supertall development in downtown Miami, partnering with hospitality giant Sonesta International Hotels. The project, dubbed the James Hotel & Residences, is poised to become one of the city’s most distinctive mixed-use developments when it reaches completion in early 2028.

The 82-story tower, stretching approximately 1,000 feet into the Miami skyline, will feature 336 fully furnished luxury residences and marks the first residential venture for Sonesta’s James brand. The development team, a powerhouse collaboration between AD1 Global, Big Development, and To The Stars, is positioning the project to capitalize on Miami’s growing reputation as a luxury lifestyle destination.

“We’re witnessing a transformation in Miami’s luxury residential market,” says Daniel Berman, who leads Hollywood-based AD1 Global, though he remained strategic about revealing the exact location of the development. The property acquisition is expected to close within 30-40 days, underscoring the rapid pace of development in the area.

The project’s ambitious amenity package reflects the evolving demands of ultra-luxury buyers, featuring a four-story private club, extensive wellness facilities including snow and rain rooms, and multiple dining venues. Douglas Elliman, tapped to handle sales launching in Q2 2024, will offer units ranging from studios to four-bedroom residences.

In a notable twist on the traditional residential model, approximately 60% of the units will participate in a hotel leaseback program, potentially offering investors a revenue stream in Miami’s robust tourist market. This hybrid approach mirrors a growing trend in luxury real estate, where branded residences command premium valuations.

The James Hotel & Residences joins an elite group of supertall projects reshaping Miami’s skyline, including the under-construction Waldorf Astoria Hotel & Residences and Ken Griffin’s planned 1,039-foot Citadel headquarters. However, the market has shown signs of selectivity, as evidenced by Swire’s recent decision to terminate plans for the One Brickell City Centre office supertall.

For Sonesta, which currently manages about 10 properties in South Florida, the project represents a significant expansion of their luxury portfolio and a strategic bet on Miami’s continued appeal to high-net-worth buyers and visitors. The development adds to a growing roster of branded residential projects in South Florida, where luxury brands from various sectors are vying for a piece of the region’s lucrative real estate market.

Source: TRD