Economists seek approval for new waterfront homes in Miami Beach

Economists seek approval for new waterfront homes in Miami Beach

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The Miami Beach Board of Planning Review could vote down more than half a dozen projects

Private equity investor Elliott Weinstein is among property owners seeking approval from the Miami Beach Planning Review Commission on Tuesday amid a surge in new construction.

Weinstein, a partner at New York-based Searchlight Capital, is seeking a four-foot height exemption for a single-family home already under construction at 6455 Pine Tree Drive. Weinstein acquired the property from New York developer and Florida transplant Steve Witkoff for $20 million in April of last year.

Witkoff’s sale marked a 188 percent increase over its purchase price in early 2021. Weinstein’s ownership had been kept under wraps until his trust filed plans with the city for a 9,700-square-foot home he’s building on a 0.6-acre lot . Kobi Karp Architecture & Interior Design is the project architect.

In Sunset Islands, Jason Wright of Apax Partners is seeking a three-foot height exemption for a planned two-story residence on a waterfront lot at 1400 West 23rd Street. Wright, through an LLC, paid $14 million for the property in April of last year. The venture capitalist acquired it from Anatomy Fitness co-owner Chris Paciello, who gave it to Wright for a 50 percent price increase in a month.

315 West San Marino Drive

Wright owns the house next door at 1420 West 23rd Street, which he acquired from home spec developer Todd Michael Glaser and his partner Rony Seikaly in early 2021 for $18.5 million.

Wright wants both homes to match, according to his application. AI2 Design Corp. he is the architect.

In Belle Isle, Venice, real estate owners Steve and Jessica Rhodes are trying to remodel a circa-1941 house into a four-story, nearly 5,600-square-foot, tropical modern home. Rene Gonzalez is the architect for the project at 8 Farrey Lane, near the Standard Hotel.

The Rhodes, who previously received Planning Review Board approval in 2016 for a three-story residence, are seeking variances regarding front yard setback, interior side yards, stairs and landings, maximum rear lot coverage and the projection of a pergola in the backyard. Steve, a real estate investor, and his wife Jessica paid $770,000 for the 0.1-acre property in 2011, records show.

Some property owners are also seeking approvals from the city to expand or remodel their homes. Other projects up for a vote include the non-waterfront homes planned for 315 West San Marino Drive and 401 West 30th Street, and the waterfront home planned for 1275 North Biscayne Point Road, according to the agenda.

The board may also vote on plans for the site at 1920 Alton Road, where a company owned by Bruce Beal, Wayne Boich and Andrew Mathias of Associated Companies is proposing a five-story, 50,000-square-foot commercial building with two restaurants. places. New York-based Related is taking the lead on the project, although the three partners each hold equal stakes.

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