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His JDS Development had in the past planned a Major Food Group-branded condominium assignment for the Miami site.
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While questions revolve around the long-term of Michael Stern’s super-tall Brooklyn, the developer turns out to be totally interested in Miami.
Stern’s JDS development firm paid $61. 2 million for the half-acre at 888 Brickell Avenue, where the company plans a Dolce-branded condominium tower.
New York-based JDS has been under contract for years to take over the property, which includes a seven-story construction site that will be demolished. JDS financed the transaction with a $35. 7 million loan from G4 Capital Partners.
The high-rise project, dubbed 888 Brickell, will be the first residential construction of the Dolce brand.
The condo-hotel tower will feature 250 rooms and suites; six food stalls, adding a place to eat on the floor; Two lobby bars and a place to eat and a bar at the pool club. Other amenities will include an indoor paddle tennis court, a golf simulator, a yoga and pilates studio, a spa, a theater, a lounge, and a lap pool.
Official, the brokerage backed by Side and co-founded by no-nonsense agents Oren and Tal Alexander, leads condo sales. Owners can enroll their outfits in the hotel’s rental program or live in it. The complexes will have up to 3 bedrooms.
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Branded luxury condo projects have exploded in South Florida. Other projects that have been completed or are in the works include Aston Martin Residences, Bentley Residences, Baccarat Residences and Mandarin Residences.
Stern, who owns an oceanfront mansion on North Bay Road in Miami Beach, is also planning a mixed-use master assignment with a Mercedes-Benz-branded condominium component in Brickell. His company announced sales of the car allocation of approximately 800 units. in February with Serhant. It is designed through SHoP Architects.