Miami South Beach Waterfront Project Secures $137M Loan

MIAMI—New York City-based developers Ackerman Development and JDS Development Group has closed on a $137-millon construction loan for its Monad Terrace luxury waterfront project currently under construction here in Miami Beach.

The financing, which fully capitalizes the 59-unit project, was provided by New York City-based Madison Realty Capital. Construction is underway, with the foundation nearly complete. The tower is expected to go vertical in the spring of this year and be complete in the fall of 2019. The project was designed in collaboration with Miami-based Kobi Karp Architecture and Interior Design, Inc.

 

READ MORE

Globest

April 25, 2018


NYC Developer Gets Loan for Condo Project in Glutted Miami Area

A Jean Nouvel-designed condo project in Miami Beach, Florida, just got the area’s biggest residential construction loan in almost a year, putting the luxury tower on a path to completion in a market that’s saturated with others.

New York developers Ariel Ackerman and Michael Stern closed last week on $137 million in financing from Madison Realty Capital to build Monad Terrace, Stern said in an interview. It was the largest loan for housing construction in Miami-Dade County since June, according to property-research firm Real Capital Analytics Inc.

READ MORE

 

Bloomberg

April 24, 2018


The Real Deal

April 24, 2018

Miami’s largest condo construction loan in nearly a year

Ackerman Development & JDS Development scored a $137 million construction loan for a South Beach condo project known as Monad Terrace, in what appears to be the largest financing deal in Miami’s market in nearly a year.

Madison Realty Capital, a New York-based real estate investor and lender, provided the financing for the 59-unit, Jean Nouvel-designed project at 1300 Monad Terrace. The loan isn’t contingent upon any sales thresholds.


Curbed

March 15, 2017

Step inside Monad Terrace’s sales gallery in Miami Beach

One of Miami Beach’s most anticipated projects has yet to break ground in Monad Terrace—they’ve been experiencing some delays with the steel delivery—but their sales gallery has been in full swing. Located on the corner of Alton Road and 14th Street, a couple of blocks from the site, the gallery, which allows you to get a glimpse of what it’s like to live in the 59-unit development designed by Pritzker Prize-winning architect Jean Nouvel, will also soon be available as an event space for community organizations and Miami nonprofit groups.


THE REAL DEAL

MARCH 7, 2017

Monad Terrace project scores approval for design changes

Monad Terrace, a 59-unit luxury condominium designed by Pritzker Prize-winning architect Jean Nouvel, will have a new entrance and lobby designed to enhance its striking architecture. The Miami Beach Design Review Board on Tuesday approved plans for a double height lobby and porte-cochère lobby for the building located at 1300 Monad Terrace in South Beach. The entrance and lobby will face Biscayne Bay and, to compensate for adding height to the lobby, an additional floor of space will be added to the rear of the second structure of the complex.


The Real Deal

February 14, 2017

On the scene at Monad Terrace’s launch party: PHOTOS

JDS Development and its partners New Valley and Ackerman Development launched sales for Monad Terrace at a cocktail soiree last week. The 59-unit luxury condo project, at 1300 Monad Terrace, marks the first in Miami for architect Jean Nouvel. Douglas Elliman is handling sales for Monad Terrace, which is also registered in New York. New Valley, Ackerman Development and Mink Development are also partners on the project. Developer Michael Stern assembled the land from 13 sellers, spending more than $51 million on the 14 parcels between 2015 and 2016. He told The Real Deal last week that the project will target buyers who “appreciate great design and architecture.” Prices start at $2 million.


New York Post

February 08, 2017

Top-tier designers reject overrated Danish lifestyle fad

Star architect Jean Nouvel’s sharply drawn elegance can create a sense of warmth as well. The goal for Monad Terrace, his first project in Miami — which will feature a honeycomb exterior of glass encased metal and hard interior materials like black Zeus and Calacatta gold marble — is to direct residents’ attention to the views over Biscayne Bay. Rather than cocooning, Nouvel’s concept, with 59 units starting at $2 million, embraces the outside world. “I wanted to create a building that is like the reflection of the sun on the water. … This symbiosis of geometry and light is the key point for me,” says Nouvel, who expects the first residents to move in next year. “It’s like the light in the eye: When you see it, you know there’s life.”


Curbed

January 13, 2017

Jean Nouvel’s Monad Terrace expected to break ground shortly in Miami Beach

Monad Terrace is expected to break ground by the end of January, Curbed has learned, with the highly anticipated Jean Nouvel development also opening its sales gallery to the public on a similar timeframe. Located off Monad Terrace and West Avenue in Miami Beach, directly south of the Waverly (14th Street), the luxury waterfront development is unique in that it was designed with Climate Change and rising sea levels at the forefront, as we learned in the announcement last February.Its “Reflection Machine,” a giant lagoon of sorts at the heart of the complex, is designed to invite the rising waters of Biscayne Bay and is capable of withstanding the heavy flooding that typically devours waterfront developments on West Avenue. The project will be comprised of 59 residences, ranging from two to five bedrooms and starting at $1.7 million.


FORBES

DECEMBER 31, 2016

10 Billionaire-Style Projects Designed By Pritzker Prize Architects

The USA is getting its über Pritzker on. Foreign-born Pritzker Prize-winning starchitects are waving their magic wands over American condominiums, hotels, and mixed-use complexes—creating sleek towers and contemporary living spaces that are redefining urban luxury living for millionaires and billionaires (especially in New York and Miami). New projects are getting the Pritzker Prize touch with spellbinding glass façades, exclusive amenities, expansive terraces, and spectacularly efficient landscaping for the benefit of sophisticates addicted to the high life. Here are some of the dazzling projects emerging from the minds of architectural geniuses.


The Real Deal

DECEMBER 8, 2016

Northwind, partners buy the Esplanade for nearly $150M

Ran Eliasaf’s Northwind Group, Harrison Street Real Estate Capital and the Engel Burman Group jointly picked up a 14-story Upper West Side luxury senior housing facility at 305 West End Avenue for nearly $150 million, or about $800 per square foot, The Real Deal has learned. The seller, Alexander Scharf’s Esplanade Venture Partnership, parted ways late last week with the 185,000-square-foot property in the wake of recent controversy. Scharf and his company were charged in September over a façade collapse that killed a 2-year-old girl in May 2015.


Dezeen

December 06, 2016

Miami architecture finally addresses "visible and tangible impacts of sea-level rise"

Architects and developers working in Miami are belatedly responding to climate change, amid a growing sense of alarm over how rising sea levels are affecting the city. Design Miami chief creative officer Rodman Primack told Dezeen that climate change is "actually happening" in Miami while Vanity Fair's architecture critic Paul Goldberger said rising sea levels are affecting the Florida city "more than any place else in the United States". The comments came amid concerns that Miami Beach's historic Art Deco district could be lost to the sea, with a panel of preservation experts agreeing earlier this year that "things don't look good".


Dezeen

December 06, 2016

Jean Nouvel elevates Miami Beach residences to avoid rising sea levels

French architect Jean Nouvel's first residential project in Florida is raised over 11 feet above sea level to address the growing risk of flooding in Miami Beach. Monad Terrace will be located in the city's South Beach area, which is home to a swathe of Art Deco buildings that have been revamped over the past few years, but is under threat from rising sea levels due to climate change. The new development, which will include 59 waterfront residences overlooking Biscayne Bay, will aim to combat the risk by following the city's recently instated codes requiring structures to be elevated over six feet (1.83 metres) above sea level.


Designboom

NOVEMBER 30, 2016

Jean Nouvel Presents Plans for Monad Terrace Residences in Miami Beach

At Design Miami/ 2016, French architect Jean Nouvel has revealed more information about his first project in Miami — monad terrace. Located on the west side of Miami beach, overlooking biscayne bay and downtown, the scheme sees 59 individually designed waterfront residences positioned around a man-made lagoon. Dubbed ‘the reflection machine’, the project provides brilliant light, while private outdoor space is sheltered by climbing gardens.


WORLD RED EYE

NOVEMBER 29, 2016

JDS Development Hosts Exclusive Brunch in Honor of Jean Nouvel at Design Miami

JDS Development and Ackerman Development hosted an exclusive brunch in honor of Jean Nouvel at Design Miami/ before the fair opened its doors for the press and collectors preview. JDS, Ackerman and Ateliers Jean Nouvel are collaborating to bring the residential real estate project — Monad Terrace — to Miami. Composed of 59 individually designed waterfront residences around a glittering lagoon, Monad Terrace provides brilliant light and expansive private outdoor space sheltered by climbing gardens of native plants and flowers. Simon Koster Principal of JDS and Jean Nouvel both spoke at the event about the unique attributes of the groundbreaking project.