David Martin, the leader of Terra, and Major Food Group (MFG) have recently collaborated to create a lavish waterfront condominium tower in Miami's Edgewater neighborhood, known as The Villa. This exceptional project, located at 710 Northeast 29th Street, will consist of around 50 units within a towering structure at 649 feet. Initially named 729 Edge, this development promises to be a remarkable addition to the area.
The project was approved approximately two years ago for the development team, which consists of Louis Birdman, Kevin Venger, Michael Konig, and Alex Posth. Birdman and Venger, who were involved in the development of the Zaha Hadid-designed One Thousand Museum, are collaborating with Terra and MFG as part of One Thousand Group to develop this tower.
Jeff Zalaznick, Mario Carbone, and Rich Torrisi established MFG intending to oversee the branding and operation of various establishments within the building. The ground floor will showcase a restaurant with a waterfront view, while Carbone will be responsible for designing the in-unit kitchens, adding to the project's overall aesthetic. The Villa represents MFG's initial venture into the residential building sector, as their previous endeavor to brand a 90-story tower at 888 Brickell Avenue was ultimately abandoned.
Douglas Elliman has been selected to oversee the condominium sales for the 58-story Edgewater tower. The starting price for full-floor units is anticipated to be $8.5 million for a 6,200-square-foot condo. The tower will offer luxurious amenities such as a rooftop helipad and a private dock. The Miami Urban Development Review Board has given the green light to the initial plans, which include 13,000 square feet of retail space and 160 parking spots. ODP Architecture & Design and Charles & Co. are responsible for the architectural and interior design aspects, respectively. A demolition permit has been secured for the current structure on the site, and additional land has been acquired for the project's parking garage.
In addition to The Villa, Terra has been actively involved in various developments across South Florida, including a proposed new luxury condo project in Miami Beach. Terra and AB Asset Management have also secured a loan for a luxury condo project in Coconut Grove. In partnership with Russell Galbut, Terra is developing the Five Park condo tower at the entrance to South Beach.
MFG's expansion into branded luxury real estate mirrors a growing trend in Miami, where high-end branded residences like the Porsche Design Tower and Casa Armani Residences have become prominent. The concept extends beyond Miami, with similar branded residences in New York and other locations. MFG's initiative represents a strategic move to blend high-end dining experiences with luxury living, catering to a specific clientele focused on exclusivity and convenience.
Please contact David Freed, Luxury Real Estate Agent, for all of your Miami home needs and questions.
