Casa Cipriani Expands Beyond New York and Milan with Luxurious Florida Beachfront Development

Columbus International: Your Premier Bridge Between US and Italian Real Estate Markets

With prestigious offices in New York, Miami, Milan, and Florence, Columbus International delivers unparalleled expertise in transatlantic property investments. Contact our experienced agents today to explore exceptional opportunities on both continents.

Iconic Italian Hospitality Brand Announces First Residential Venture in Miami Beach’s Prime Oceanfront Location

Casa Cipriani, the storied Italian hospitality brand synonymous with refined luxury, is making waves in the South Florida real estate market with its ambitious expansion plans. The iconic brand is set to launch its first Florida location—a sophisticated development that will feature 23 ultra-luxury condominiums alongside a boutique 40-room hotel and an exclusive private members’ club.

According to sources close to the project, this unprecedented venture will be housed in a striking 17-story oceanfront tower at 3611 Collins Avenue in Miami Beach, positioning the development in one of the most coveted coastal strips in the country.

This marks Casa Cipriani’s strategic entrance into the luxury real estate sector, establishing its presence in a prestigious oceanfront district that recently welcomed the new Aman Miami Beach just blocks away—further cementing the area’s status as a hub for ultra-luxury branded residences.

The ambitious project represents a powerhouse collaboration between three major players: Arnaud Karsenti’s Miami-based 13th Floor Investments, Joseph Cayre’s Midtown Equities, and the legendary Cipriani family themselves.

Acclaimed architect Brandon Haw has been commissioned to design the building, which promises to masterfully blend Miami Beach’s iconic Art Deco heritage with the timeless Cipriani aesthetic—an elegance that traces back to 1931 when Giuseppe Cipriani founded the original Harry’s Bar in Venice, Italy.

A project spokesperson revealed exclusively that the luxury residences, ranging from one to four bedrooms, are expected to command starting prices in the $25 million range when sales launch later this year. Construction is slated to commence shortly thereafter, signaling confidence in Miami’s resilient luxury market despite broader economic uncertainties.

While Casa Cipriani may be new to Miami, the Cipriani family’s impressive portfolio already boasts a significant Florida presence, including the under-construction Cipriani Residences Miami, Cipriani Downtown Miami restaurant on Brickell Avenue, the completed Mr. C Residences and Mr. C Hotel in Coconut Grove, and a forthcoming Mr. C Hotel & Residences in West Palm Beach.

“Casa Cipriani is fundamentally about comfort, privacy, service and elegance,” explains Maggio Cipriani, president of Cipriani USA and fourth-generation family member. He emphasizes that the Miami location will deliver the exceptional private club experience “that our members cherish” while offering a “unique opportunity to call this extraordinary place home.”

The development will feature an impressive array of premium amenities, including a dedicated private entrance for residents, signature dining experiences, comprehensive in-home dining and catering services, exclusive private dining rooms, a swimming pool serving Cipriani’s acclaimed food and beverages, a world-class spa, a sophisticated lounge, and a state-of-the-art fitness center.

Industry analysts note that this development represents a significant vote of confidence in Miami’s ultra-luxury market, as well as the continuing trend of prestigious hospitality brands extending into the residential real estate sector to meet growing demand for branded living experiences.

Source: New York Post

“12 Yachts You Can’t Miss at the Palm Beach Boat Show 2025,” According to Forbes

According to Forbes, the Palm Beach International Boat Show is quickly establishing itself as one of the premier events in the yachting calendar. The 2025 edition promises to be the largest yet, featuring approximately €2.2 billion worth of superyachts over 82 feet for sale. With 191 vessels in that size range expected to attend—surpassing 2024’s count of 173—the show combines an impressive selection of second-hand inventory with world debuts and new model announcements.

Forbes highlights that the event’s easy navigation format and prime location along West Palm Beach make it particularly appealing to yacht enthusiasts. With the show days away from opening, Forbes has compiled a list of twelve standout vessels that shouldn’t be missed.

The Must-See Vessels

204-foot Bravissima
Builder: Benetti
Year: 2023
This highly-anticipated and secretive Benetti creation will make her world debut at the show. According to Forbes, no one has glimpsed inside this unique vessel designed by Cassetta Yacht Designers and Van Oossanen Naval Architects since her delivery.

186-foot Santosha
Builder: Heesen
Year: 2024
Forbes notes this vessel marks a new chapter for Dutch shipyard Heesen as their first in a new series of aluminum yachts in this size range. The award-winning yacht features low-profile lines, an ample swim platform, and amenities including a well-equipped sundeck with bar and dining facilities.

148-foot Go
Builder: Tankoa
Year: 2024
Making her world debut, this Italian model was purchased by an American client who requested subtle layout changes to maximize space and volume. Forbes reports the yacht has remained largely out of the spotlight until now.

196-foot Alfa G
Builder: Oceanco
Year: 2004
Fresh from an extensive refit, Alfa G sports a completely new exterior with a distinctive dark hull and scarlet trim. The interior has undergone a comprehensive overhaul featuring classic art pieces, Art Deco touches, and clean lines.

155-foot M
Builder: Sanlorenzo
Year: 2024
Forbes describes this vessel as balancing hardy explorer capabilities with fresh, elegant design. Studio Indigo created interiors with a soft, warm ambience featuring touches like a pink-velvet walk-in wardrobe and a crisp espresso and ivory color palette.

130-foot Riva Bellissima
Builder: Riva
Year: 2023
This 299-GT model carries signature Riva design elements into the interior, with large windows in the saloon, gleaming wood finishes, and multi-functional entertainment spaces.

114-foot Fox
Builder: Pendennis
Year: 2024
One of Pendennis Shipyard’s first pocket explorers, Fox features an 1,114-square-foot main deck aft designed for carrying toys and tenders—including a submersible—and a bridge deck with a DJ station.

191-foot Diamond Binta
Builder: Tankoa
Year: 2024
Making her US debut, this yacht features automotive-inspired design by Francesco Paszkowski with dark marbles, contrasting light panels, and cream accents. Forbes highlights the beach club with triple openings and an engine room with a transparent corridor.

180-foot Gene Machine
Builder: Amels
Year: 2014
Owned by DNA sequencing scientist Dr. Jonathan Rothberg, this vessel and her support yacht Gene Chaser will be displayed as a pair. Forbes notes they were equipped to support scientific discoveries, featuring a molecular biology laboratory with 3D printers.

62-foot Grand Banks 62
Builder: Grand Banks
Year: 2024
Forbes recommends this vessel for classic boat lovers, noting its timeless appeal and downeast styling. The yacht features the brand’s V-Warp Technology for fast, efficient performance with top speeds of 30 knots.

95-foot Pearl 95
Builder: Pearl
Year: 2024
This British vessel features Kelly Hoppen interiors with an impressive five-cabin layout. Forbes describes its penthouse-inspired interior that utilizes timber veneers, onyx marbles, and metal details.

50-foot De Antonio D50 Coupe
Builder: De Antonio
Year: 2024
Forbes calls this dayboat “sleek yet robust,” noting its extended hard top makes it ideal for use in Florida and the Bahamas, while its two-cabin layout suits it for longer passages.

Photo Credit: Palm Beach Boat Show + Instagram

Miami’s Real Estate Transformation: Million-Dollar Mansions Rise as Affordable Homes Vanish

Miami’s skyline isn’t the only thing reaching new heights. As ultra-wealthy buyers flood the South Florida market, they’re reshaping the entire real estate landscape, creating a city where luxury properties abound while entry-level homes become relics of the past.

The Vanishing Starter Home

As per The Wall Street Journal, the statistics tell a startling story. Between 2019 and 2024, single-family homes priced below $500,000 in Miami-Dade County have plummeted by an astonishing 79.6%, according to research firm Analytics Miami. This dramatic shift coincides with hedge-fund titan Ken Griffin’s historic $100 million home purchase—the first of its kind in Miami—which seemingly opened the floodgates for similar high-end transactions.

The data reveals the complete transformation of Miami’s housing market. What was once a city with diverse housing options has rapidly evolved into a playground for the ultra-wealthy, with profound implications for everyone else.

The Griffin Effect

Griffin’s record-breaking purchase wasn’t just a headline—it was a harbinger. Since that landmark transaction, Miami has experienced an unprecedented surge in eight and nine-figure home sales, reshaping market expectations and pricing strategies throughout the region.

Griffin’s statement purchase validates Miami as a true luxury destination on par with New York, London, and Hong Kong. This landmark transaction has influenced other wealthy individuals to see Miami differently—not just as a vacation spot but as a place to establish a significant presence.

The trend has accelerated further with Russian billionaire Vladislav Doronin’s recent sale of his Star Island estate for a staggering $120 million—setting a new record for Miami-Dade County. The property, which Doronin purchased from retired NBA star Shaquille O’Neal for $16 million in 2009, represents a remarkable 650% return on investment. According to reports from The Real Deal and the South Florida Business Journal, the luxurious residence is rumored to be a teardown purchase, signaling that even trophy properties may be viewed as merely land acquisitions in today’s ultra-luxury market.

Economic Ripple Effects

This transformation extends far beyond real estate statistics. As affordable inventory disappears, Miami’s workforce—the teachers, healthcare workers, and service industry employees who keep the city functioning—face increasingly untenable housing situations.

Average earners now commute from ever-distant suburbs, with some traveling more than 90 minutes each way to reach jobs in Miami’s core. This migration creates additional pressure on transportation infrastructure while simultaneously altering the demographic makeup of Florida’s most dynamic city.

There’s a real risk of Miami becoming a tale of two cities—one populated by the ultra-wealthy and the other by those who serve them, with very little in between. The ongoing middle-class exodus threatens the diversity and vibrancy that made Miami special in the first place.

Investment Drivers

Several factors fuel this market transformation. Florida’s favorable tax environment, combined with Miami’s international appeal and lifestyle amenities, creates perfect conditions for wealth migration. The pandemic accelerated these trends, as remote work capabilities allowed executives from high-tax states to relocate permanently.

Miami offers what wealthy individuals from New York, California, and international locations seek: financial advantages, cultural dynamism, and extraordinary quality of life. This isn’t a temporary trend—it’s a fundamental realignment of where capital and influence concentrate in America.

The New Normal?

Industry experts debate whether this market shift represents a permanent change or a cyclical extreme. Some point to similar patterns in cities like San Francisco and New York, suggesting Miami will eventually reach a new equilibrium that accommodates diverse income levels.

Others see Miami’s transformation as more profound and potentially irreversible. The combination of limited developable land, strong international demand, and climate-related challenges to new construction creates unique pressures that may permanently alter the city’s housing ecosystem.

The $500,000 single-family home in Miami-Dade isn’t just endangered—it’s practically extinct. Looking ahead, the market will need to completely rethink how housing functions in this region, because the old paradigms simply no longer apply.

For now, the city continues its remarkable metamorphosis, with each eight-figure transaction further cementing Miami’s status as America’s newest ultra-luxury real estate capital—and pushing the prospect of affordable homeownership further beyond reach for everyone else.

This article represents analysis based on current market conditions and expert opinions. Real estate investments involve risk, and market conditions may change.

For inquiries regarding distinguished Miami properties—whether for acquisition or divestment—the esteemed real estate professionals at Columbus International remain at your service. info@columbusintl.com

Case quartiere Palm Beach

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

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

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

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

Miami

Miami’s Luxury Developers Pioneer New Era of Affordable Housing

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

Il mercato dei condomini a Miami Beach

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

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

Case quartiere South Beach

Pharrell Williams Expands His Empire with Two High-End Japanese Restaurants in Miami

Music mogul and Louis Vuitton creative director Pharrell Williams is making his mark on Miami’s culinary scene with two Japanese dining ventures that promise to redefine luxury dining in the Design District.

In partnership with Launchpad Hospitality, Williams has launched an ambitious dual-concept project at 156 NE 41st Street. The crown jewel, Matsuyoi, is an intimate upstairs sanctuary featuring a coveted 10-seat chef’s counter where Chef Taka Sakeda crafts meticulously prepared multi-course experiences. The space, complete with a bespoke cocktail program and an exclusive 14-seat private terrace, exemplifies the high-touch hospitality that Miami’s elite have come to expect.

Downstairs, Williams has brought New York’s acclaimed Nami Nori to Miami, offering a more accessible but equally sophisticated take on Japanese cuisine. The restaurant specializes in temaki, with standout dishes including expertly prepared vegetable rolls and innovative small plates like furikake fries and mushroom dip that elevate the casual dining experience.

This culinary venture marks Williams’ latest successful diversification play, following his groundbreaking appointment at Louis Vuitton and continued dominance in music production. With both establishments already generating significant buzz among Miami’s tastemakers, Williams appears poised to replicate his track record of turning creative ventures into commercial successes.

Source: Time Out Miami

Lopez e Affleck

Gianluca Vacchi’s $4 Billion Miami Real Estate Play: From Social Media Star to Development Mogul

In a landmark partnership reshaping Miami’s skyline, Italian business titan Gianluca Vacchi and acclaimed developer Michael Stern have joined forces to lead $4 billion in transformative South Florida projects, marking an unprecedented alliance in the region’s real estate history.

COLUMBUS INTERNATIONAL – HOME FOR SALES AND FOR RENT IN MIAMI

Personal Portfolio

Before his major development partnership with Stern, Vacchi made significant personal investments in Miami real estate. In a notable move, he acquired a waterfront Miami Beach home for $24.5 million from developer Valerio Morabito and model Vita Sidorkina-Morabito. The luxurious property features:

  • 150 feet of water frontage
  • Seven bedrooms across 12,700 square feet
  • A screening room
  • 7,400 square feet of terrace space
  • A 90-foot swimming pool
  • Reflecting pools framing the entry
  • A roof terrace with ocean views

The teak, glass, and stone house represents Vacchi’s commitment to architectural excellence. His Miami portfolio previously included a 7,000-square-foot Miami Beach penthouse, which he listed for $10.9 million in April.

The Power Partnership

The collaboration brings together two distinct forces in business: Michael Stern, founder and CEO of JDS Development Group, known for architectural landmarks like New York’s 111 West 57th Street, and Vacchi, a social media titan with over 47 million followers who recently made headlines for selling his stake in IMA Group at a $7 billion valuation.

Landmark Projects

Their partnership has already launched two of Miami’s most ambitious branded real estate projects:

888 Brickell Dolce&Gabbana

This luxury development represents Dolce&Gabbana’s first venture into the U.S. real estate market. The project will become Miami’s tallest tower, featuring:

  • 259 residences
  • Six food and beverage outlets
  • A signature ground-floor restaurant
  • Two bars in the Grand Lobby
  • A Pool Club restaurant and bar
  • Demo kitchen and private dining facilities

Mercedes-Benz Places

Currently the largest mixed-use development under construction in Miami, this 67-story project includes:

  • Over 130,000 square feet of amenities and hospitality space
  • 250,000 square feet of commercial space
  • A 174-key hotel
  • Retail outlets
  • Innovative mobility solutions
  • Reimagined Southside Park

The Mercedes-Benz project has already broken Miami sales records, with over 100 condominiums sold within weeks of launch.

From Manufacturing to Real Estate

Vacchi’s entry into real estate follows an impressive business trajectory. During his tenure at IMA Group, he helped grow the company from $100 million to over $2.5 billion in sales. His first Miami property purchase in 2015 marked the beginning of his investment in the region, operating through GV Development Group, a U.S. real estate division of his Cofiva Holding.

Beyond Real Estate

The partnership extends beyond traditional real estate development. Vacchi and Stern, along with partner Rafi Gibly, are launching Sunset Padel, a members-only indoor padel club in Miami Beach’s Sunset Harbour neighborhood, scheduled to open in late summer 2024.

Future Expansion

The duo isn’t limiting their vision to South Florida. Plans are in motion to announce additional Miami projects later this year, with future developments planned for New York and the West Coast in the coming months.

Market Impact

Located in Miami’s Brickell district, these projects are transforming what was historically a business and financial center into a vibrant 24/7 lifestyle neighborhood. The developments have attracted significant interest from local, domestic, and international purchasers, indicating strong market confidence in the partnership’s vision.

Looking Ahead

“The quality of life is unmatched to any place in the world. The city is growing and Michael has the greatest vision for the city that I love,” Vacchi explained, emphasizing his commitment to Miami’s future. With their combined expertise in development, branding, and luxury lifestyle, Stern and Vacchi are positioned to significantly influence the future of Miami’s real estate landscape.

Their partnership represents a new model in real estate development, one that combines traditional development expertise with modern branding and lifestyle elements. As Miami continues its evolution into a global city, this collaboration between a construction veteran and a media-savvy entrepreneur might well set the template for future development partnerships.

Miami

Miami Real Estate Market Shows Signs of Stabilization in 2025

The Miami residential real estate market is experiencing significant shifts as inventory levels rise and prices stabilize. Single-family home inventory jumped 26% year-over-year to 5,041 units in December 2024, while condominium availability surged 48% to 10,425 units.

Despite increased inventory, transaction volumes declined. Single-family home sales dropped 9.1% in Q4 2024, while condo sales fell 24%. The median single-family home price held relatively steady at $660,000 in November, down slightly from July’s peak of $670,000. Condo prices saw a more substantial decline, falling 7.6% from $449,000 in March to $415,000 in November.

The market currently shows eight months of single-family home supply, indicating equilibrium. However, the condo market’s 18-month supply suggests oversaturation, potentially driven by investor-heavy ownership – only 35-40% of condo owners occupy their units.

Berkshire Hathaway President Ron Shuffield emphasizes the long-term value proposition, noting that Miami’s median single-family home prices have quadrupled since 2011, rising from $150,000 to $650,000. The increased inventory offers more choices for buyers while helping stabilize prices after the pandemic-era surge that saw monthly supply drop to 1-3 months.

Recent changes in condominium association regulations across South Florida have impacted buyer interest in multi-unit properties, contributing to the sector’s softening sales despite increased availability.


Columbus international

Columbus International offers top experts in the real estate field that will make your quest for a property as seamless as possible.

CONTACT

OFFICE

Rockefeller Center
1270 Sixth Avenue, 8th floor,
New York, NY 10020

Newsletter

Receive our latest news and updates.

1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right

Columbus International operates in the United States under the aegis of Keller Williams NYC and Living RE srl in Italy