NoBe Bay Condos Get New Owners; Resorts World Miami Selects Arquitectonica

By Georgiana Mihaila, Associate Editor The partially finished waterfront condominium tower NoBe Bay has been monopolizing headlines since last week when it changed ownership. A joint venture formed by 13th Floor Investments and Key International has successfully closed the deal on [...]

The partially finished waterfront condominium tower NoBe Bay has been monopolizing headlines since last week when it changed ownership. A joint venture formed by 13th Floor Investments and Key International has successfully closed the deal on the project, that includes both the tower and its nearby garage, through a bank-ordered sale.

The terms of the sale have not been disclosed, but the joint venture partners have declared that they plan on investing up to another $10 million within the next year in the completion of the project. The tower at 6700 Indian Creek Dr. has 98 one-, two- and three-bedroom units, ranging from 650 sq. ft. to 1,800 sq. ft., and will include upon completion amenities such as a pool deck and cabanas overlooking the bay, a garden patio, a gym and valet parking. The parking garage has 453 spaces, and 12,000 sq. ft. of street-level commercial space are also included. Designed by renowned architect Kobi Karp, the NoBe Bay tower is currently 80 percent completed.

In other real estate news, an architecture firm has been selected for the $3 billion Resorts World Miami project. Genting Malaysia Berhad, the new owner of the 14-acre waterfront parcel surrounding the Miami Herald headquarters, has chosen one of Miami’s own to design the major mixed-use project. Internationally known Arquitectonica will create the master plan for the mixed-use project that will include restaurants, shopping, residential towers, entertainment and other commercial facilities—further details on the project will be released by the end of August.

Resorts World Miami will create thousands of jobs and reshape the northern edge of downtown Miami. The project will have a major impact on the city’s tourism, entertainment and real estate landscape. According to The Miami Herald, Arquitectonica gladly accepted the challenge.