Holiday Inn Express Doral

A Louisville, Kentucky-based hospitality group picked up a Holiday Inn Express in Doral for $15.9 million, according to Miami-Dade County records.

Sunshine Hospitality, a Miami-based LLC tied to Baywood Hotels, sold the 103-key hotel to a limited partnership affiliated with Schulte Hospitality Group on June 1. It last traded for $6.4 million in 2008, property records show.

The four-story hotel was renovated in 2009, according to the website. It features 80 parking spaces, a swimming pool, business center, market, gym and breakfast bar. Out of the 103 rooms, 10 are suites, 45 have one bed, 42 have two beds, seven are disability and wheelchair friendly.

The buyer, Schulte Hospitality, owns and operates hotels across the U.S., such as Springhill Suites, Residence Inn, Courtyard and Sheraton.

The seller, a privately owned hotel management company, owns and operates more than $800 million in assets in the United States and India, according to its website, including brands such as Courtyard, Fairfield Inn & Suites, DoubleTree, Best Western and Holiday Inn, among others.

Amit N. Patel and Chris Desai are listed on the seller’s corporate records, and have been tied to other properties in South Florida, such as the recent $15.5 million sale of a development site in Brickell; the Homewood Suites in Brickell that is set to open in July; and the Keys Bay Colony Resort in the Florida Keys, which Peebles Corporation sold to Baywood for $10.5 million in March.

Baywood lists a Residence Inn in Doral, at 3450 Northwest 91st Avenue, under its developments that are coming soon.

From left: Marc Holliday and Nicholas Schorsch

From the New York website: Real estate investment trusts around the country are reforming their executive compensation formulas after facing criticism from shareholder advocates regarding big payouts to top executives.

REITs like CBL & Associates Properties, Lexington Realty and CYS Investments are among those that have changed their pay structures in the past year, with salaries, bonuses and benefits now more closely linked to long-term financial performance.

American Realty Capital Properties also changed its practices, according to the Wall Street Journal, after accounting irregularities tied in part to its record $222 million executive compensation pool led to chair Nicholas Schorsch’s resignation and threw the company into a tailspin.

SL Green Realty recently defended its executive compensation practices – including a $16.4 million payday for CEO March Holliday in 2014 – in a response to criticism by advisory firm Institutional Shareholder Services.

John Alschuler, chair of the SL Green’s compensation committee, stood by the REIT’s executive pay scale – telling The Real Deal his job is to “keep in place one of the top management teams in American real estate.” [WSJ] – Rey Mashayekhi

SLS Hotel South Beach

Los Angeles-based sbe launched its own international real estate development arm, Dakota Development, the hospitality company announced on Wednesday.

Sam Nazarian, sbe founder, chairman and chief executive

Dakota Development will focus on planning, design, development, and construction management services to developers, lenders and other financial institutions, according to a press release. The company will also form a single-family home division for acquisitions, development and repositioning.

Dakota is leading sbe’s Hyde Hotels and Resorts brand, which has more than 25 properties planned over the next five years, including Hyde Resort and Residences in Hollywood Beach and Hyde Midtown.

This week, sbe and CIM Group sold the SLS South Beach Hotel for $125 million to GoldenPeak Capital Real Estate. Sbe will continue to operate the hotel through 2030. The hospitality company also operates the Raleigh Hotel in Miami Beach, which Tommy Hilfiger purchased in 2013. — Katherine Kallergis

A rendering of Zom’s Solitair Brickell rental tower

ZOM, an Orlando-based multifamily developer, just broke ground on its new apartment tower across the street from Brickell City Centre.

The 50-story tower, dubbed Solitair Brickell, will house 438 rental units when completed. Zom purchased the site at 86 Southwest Eighth Street for $16.8 million last year, which was then occupied by a surface parking lot and some green spaces.

JP Morgan Chase gave the developer $108.35 million in financing earlier this week, according to Miami-Dade County property records, and construction work started soon after.

The tower is a joint venture between ZOM and AIG Global Real Estate, an affiliate of the insurance provider AIG that both develops and invests in real estate.

Renderings of the tower’s lobby (left) and resident lounge (right)

Architecture firm ADD Inc., now with Stantec, designed the tower, and Balfour Beatty Construction is the general contractor. It will face a main pedestrian entrance to Brickell City Centre, and will have a covered walkway to Metromover, the developer said.

“ZOM wanted us to design a truly distinctive building that would integrate well with the ever-evolving Brickell landscape, which it will help define. Solitair will make a bold visual statement on the inside and out,” ADD Inc. Principal Jonathan Cardello said in a statement.

The developer is also working on another rental tower at Miami Worldcenter, though details for that project have yet to be released. — Sean Stewart-Muniz

The National YoungArts Foundation and its corporate partner Brickell Flatiron held a panel covering the influence of art across industries.

Panelists included developer Ugo Colombo and Oti Roberts, managing director with Deutsche Asset & Wealth Management.

Ugo Colombo’s CMC Real Estate is developing Brickell Flatiron, at 1001 South Miami Avenue. The developer filed a declaration of condominium for the project in November. CMC bought the property in October 2013 for $21 million, according to Miami-Dade property records. Flatiron will have 552 units. Sales for the 60-story residential tower launched in April 2014.

In May, Colombo listed 830 Brickell, which was the planned site for Brickell Flatiron II. CBRE is the listing agent. — Katherine Kallergis and Sean Stewart-Muniz

Jason Derulo (Credit: Adam Bielawski) and his mansion at 7555 Northwest 39th Avenue in Coconut Creek

Whatcha say, Jason Derulo?

The pop star put his Coconut Creek mansion on the market for $2.9 million, according to published reports. 

Colleen Kaye and Tim Elmes of Coldwell Banker Residential Real Estate are listing the 11,514-square-foot home at 7555 Northwest 39th Avenue, according to the MLS.

The 2.3-acre property last traded hands in December 2012 for $1.75 million, property records show. It features a 13,000-square-foot main house, a guesthouse, a pool with a waterfall, seven bedrooms, an office, and a game room, according to the listing, which was first reported in the Wall Street Journal.

After buying the home in 2012, Derulo installed marble floors and a full gym, turned the guesthouse into a studio, and created a mirrored dance studio, according to the Wall Street Journal.

Derulo is moving to the Los Angeles area, he told the newspaper, saying, “I didn’t get a chance to enjoy it as much as I would have liked. I built this masterpiece that someone else is going to enjoy.” [Wall Street Journal] — Katherine Kallergis

Exterior shots of the St. Regis Bal Harbour and Edie Laquer

Edie Laquer, one of Miami’s top commercial brokers, just took out a $5.6 million mortgage for two of her units in the St. Regis Bal Harbour.

The real estate veteran first purchased the condos for a combined $6.75 million in 2013, Miami-Dade property records show. Both were resales from investors who picked up the units from developer Starwood Hotels & Resorts Worldwide when the St. Regis opened in 2012.

The more expensive of the two is a three-bedroom, three-bathroom residence that cost Laquer $4.65 million. The other has one bedroom, one bathroom and carried a sale price of $2.1 million.

Laquer took out the financing from lender Morgan Stanley Private Bank, National Association, according to Miami-Dade County records. She had originally signed a $2.79 million mortgage for unit 500 —  the larger of the two — and rolled unit 502 into the mortgage a year later.

The broker has a litigious history in Miami’s real estate market, having sued previous partners and big name developers alike, including those of the massive Miami Worldcenter project.

Laquer started working in real estate roughly 36 years ago, and had a major hand in shaping the current face of Miami.

From left, 5801 Biscayne Boulevard and 5800 Biscayne Boulevard and Lyle Chariff and Mauricio Zapata

Two pink houses, two new deals.

Lyle Chariff and Mauricio Zapata, partners in Chariff Realty Group, just bought a mid-century revival property in Miami’s MiMo district, which they plan to renovate and turn into their corporate offices, The Real Deal has learned.

The partners paid $1 million for the property at 5801 Biscayne Boulevard, in an off-market deal, Chariff told TRD. A 3,901 square-foot house, which has been converted to an office, sits on a 10,900-square-foot lot at the entrance to Morningside. The previous owner, Kirk W. B. Wagar, paid $850,000 in 2011 for the site, according to Miami-Dade property records.

“We bought this building and we are making it a Chariff Realty Group office to have a presence on Biscayne Boulevard and to be in the MiMo district,” Chariff said. The partners also want to be close to properties they are marketing, such as the planned retail space at Boulevard 57.

Chariff and Zapata also own homes in Morningside.

“What we envision is to have our children, after school, come home and literally ride their bicycles without leaving the gated community, and visit us,” Chariff said. “It a total lifestyle move.”

Across the street, Chariff Realty’s Walter Murillo this week brokered the $1.6 million sale of 5800 Biscayne Boulevard. A Latin American investor paid $1.6 million for the commercial property, which includes a 2,780-square-foot office building on a 13,912-square-foot lot. The previous owner, 5800 Biscayne Corp., headed by Samantha Greene, paid $1.2 million for the site in 2004, according to property records.

Chariff said he will begin extensive renovations on his new property, similar to what Avra Jain has done with the Vagabond Hotel, and what John Kunkel has done with his 50 Eggs headquarters, both up the street on Biscayne Boulevard.

“They have inspired us to take these properties and bring them back to their previous glory,” he said.

Chariff Realty will maintain its current office in the Design District, at 4141 Northeast Second Avenue, but move its corporate offices to the new site in about four months, Chariff said. From the new office, the firm plans to expand its residential marketing to complement its focus on commercial real estate.

“I feel like I just bought a classic car, which I’m very proud to own — Mauricio and myself, that’s going to be our place,” he said.

But “it’s not going to remain pink,” he added. “I don’t like Pepto Bismol pink.”

Rendering of 2020 Salzedo

CG Codina, an affiliate of CC Residential, obtained a $53.54 mortgage for 2020 Salzedo, a planned luxury high-rise apartment development. 

Regions Bank granted the loan for a bundle of properties in downtown Coral Gables between Navarre Avenue and Minorca Avenue on the west side of Salzedo Street, according to records filed with Miami-Dade County this week.

The 16-story residential tower will feature 214 apartments. Plans for the development also include a four-story office building, a seven-story parking garage with more than 500 spaces, and a retail component, according to plans filed with the city of Coral Gables last year. CG Codina paid $6.18 million for the four parcels totaling 1.6 acres, property records show, between December 2010 and March 2013.

Codina is also developing Downtown Doral, a master-planned community that will include eight to nine mid-rise condo towers, more than 1 million square feet of office space, a K-5 charter school, and 70 retail stores and restaurants.

The entrance to a hospital’s emergency room (Credit: Taber Bain)

The Jackson Health System expects to close on Friday on its $38.5 million purchase of 27 acres of land in Doral to build a future healthcare facility.

Jackson Health System CEO Carlos Migoya announced the imminent purchase during a report to the Miami-Dade County Commission’s Economic Prosperity Committee on Thursday.

An aerial view of the three lots that make up Jackson’s newly acquired 27 acres

The future facility, called Jackson West, will include a children’s outpatient clinic, an emergency room, an urgent care center, and other facilities. It will be built at 7800 Northwest 29th Street. The land is currently owned by AAAA Universe LLC, managed by Kiran Patel, which bought it for $37.25 million in July 2007. An AAAA Universe electronics and appliance store currently operates on the site.

Money for the land purchase will come from an $830 million general obligation bond approved by Miami-Dade County voters in 2013 to expand Jackson Memorial Hospital.

Moishe Mana and Wynwood

Miami-Dade’s Economic Development Committee on Thursday unanimously backed a pending land swap-construction deal between the county and Wynwood developer Moishe Mana.

The deal, which Miami-Dade County Commissioner Audrey Edmonson described as a “win-win,” will come before the full Miami-Dade County Commission for a vote on June 30. It involves the county giving Mapton Holdings, a subsidiary of Mana Wynwood, 1.4 acres of 60,560 square feet of land valued at $6.8 million, located at 270 Northwest 23rd Street, 251 Northwest 22nd Lane, 205 Northwest 22nd Lane, and 2268 Northwest Second Avenue.

Mana Wynwood already owns 30 acres in Wynwood, as well as the massive Dade Foreign Trade Zone, which is located “directly adjacent to the county property,” according to a county memo.

From left, Gustavo Berenblum of Berenblum Busch Architecture, Bruce Fischman of The Bruce Fischman Law Firm, Mana Wynwood VP David Lederman, Mana Wynwood Managing Director Dylan Finger, and Puerto Rican Chamber of Commerce President Luis De Rosa

In exchange, Mana Wynwood will give the county 15,715 square feet of land at 2153 Northwest Second Avenue and 2145 Northwest Second Avenue valued at $3 million.

Mana Wynwood will also build a $7.37 million, three-story, 45,912 square foot county facility with 29 indoor parking spaces that will include an office for Edmonson (whose district includes Wynwood), a Puerto Rican Community Center, and an office for the Puerto Rican Chamber of Commerce. About $2.5 million of the facility’s cost will be paid for by a county general obligation bond. The rest of the facility’s bill will be footed by Mana Wynwood.

“They will also give us a line of credit for $5 million,” Edmonson told her colleagues. “So, if they renege [on the deal], the county keeps the $5 million.”

Rendering of ICA Miami

The Institute of Contemporary Art on Thursday won a key preliminary nod from the city of Miami Commission in its quest to build a new home.

By a 3 to 1 vote on first reading, city commissioners authorized zoning and land designation changes on four properties in the Design District and the Buena Vista historic neighborhood to make way for a 52,500- square-foot museum and sculpture garden.

The city commission is scheduled to take a second and final vote on the land designation and zoning changes later this month. But the institute, or ICA, still needs to get separate approvals for a site plan that details the actual layout of the project.

Commissioners Frank Carollo, Willy Gort, and Francis Suarez voted in ICA’s favor, despite a request from their colleague, Keon Hardemon, whose district includes the properties, to delay the matter because he is out of town.

“This is a minor step in a very long process,” Suarez said. “The applicant still has to submit a site plan where they will lay out how all this is going to look.”

Added Carollo: “It is still very, very early in the process. It’s definitely not the final decision.”

However, Commissioner Marc Sarnoff voted no in deference to Hardemon. “I am not comfortable when the district commissioner is not here and requested a delay,” he said. “I don’t know what Commissioner Hardemon is thinking, who he has met with and what questions he has.”

Since ICA’s main benefactors — billionaire auto dealer and his wife, Norman and Irma Braman, and Design District developer and DACRA President and CEO Craig Robins — unveiled plans for the Aranguren & Gallegos Arquitectos-designed project last year, the museum has met stiff resistance from homeowners and residents in the historic Buena Vista neighborhood.

To accommodate the sculpture garden that would front the entrance of the new museum, ICA plans to demolish three duplexes located on Northeast 42nd Street between Northeast First Avenue and North Miami Avenue that were purchased by the Bramans and Robins between December of last year and January for a combined $1.6 million.

“My quality of life is being impacted for the first time in the 15 years I have lived in Buena Vista,” said Antonio Giron. “It is very clear this sculpture garden is an intrusion to the neighborhood.”

Last week, the city’s Historic and Environmental Protection Board gave ICA the green light to tear down the houses, but Miami’s Planning and Zoning Appeals Board recommended that city commissioners reject the land designation and zoning changes.

However, Miami’s planning and zoning department joined ICA as a co-applicant in its request to approve changing the residential properties and a commercial parcel from “duplex” and “commercial” to “civic institutional” use.

Stephen Helfman, a land use attorney representing ICA, told city commissioners he and his client have been working with the Buena Vista East Historic Neighborhood Association since November of last year to reach a compromise. “We have done the best we can to strike a balance,” he said. “We still have a long road ahead of us. Let us move forward.”

An aerial photo of Broad Key in Florida, which is listed for $20 million (Credit: Private Islands Online)

1. Check out these 10 private islands for sale in Florida [Sun Sentinel]
2. All Aboard Florida talks of expanding downtown Miami project [Miami Herald]
3. Testa’s project in Palm Beach moves ahead despite legal cloud [Palm Beach Daily News]
4. The green rooms of Facundo Bacardi’s Miami Gardens [Curbed Miami]

— Sean Stewart-Muniz

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The Clinton Hotel in South Beach

The Clinton Hotel in Miami Beach sold for $28.5 million, more than four times its last sale in 2007, county records show. 

LLCs tied to Think Hotel Group, which owns hotels in Miami Beach, were the buyers.

“This is the third hotel that Think Group has purchased with us in the last two years. (The Plymouth and the Ansonia Hotels are currently under development),” David Restainer of Douglas Elliman said in a statement. “It is a great pleasure working with Shawn Vardi and his team. They have great vision, a knack for unlocking value, are aggressive and get to the closing table. They are going to do amazing things to the hotel that will invigorate Washington Avenue.”

The seller, Rockville, Maryland-based East Coast Realty Ventures, paid $6.9 million for the 19,500-square-foot site in July 2007, according to property records.

Douglas Elliman’s commercial division, led in South Florida by Restainer, marketed the property. It was listed in November with an asking price of $31.5 million. Elliman’s Michael Hartman also worked on the deal, according to a press release.

The hotel, at 825 and 835 Washington Avenue, has 88 rooms and was originally built in 1934 with architectural design by Charles Neilder. It recently underwent a restoration that included the addition of two new stories and more than 5,500 square feet of retail space and upgraded food and beverage facilities.

The boutique property joins a number of commercial properties on Washington Avenue that have recently sold.

In March, the Waldorf Building, at 1334 Washington Avenue, sold for $6.2 million, six times its last sale price in 1993. Also in March, a pair of New York real estate investors purchased a Miami Beach hostel at 235 Washington Avenue for $8.28 million. And this week, a Firehouse Subs sold for $2.5 million.

Improvements to the area are coming soon. The Miami Beach Land Use and Development Committee recently approved a series of wide proposals designed to breathe new life into Washington Avenue. The proposals include raising height limits for buildings on Washington Avenue , widening sidewalks, adding bike lanes and closing down one lane of traffic along much of the avenue to allow parklets — parking spaces converted to temporary patios for outdoor dining.

An aerial view of Palm Beach County

While foreign buying of homes isn’t as important in Palm Beach County as Miami-Dade — representing a little more than 50 percent of total sales in the former, compared to more than 70 percent in the latter — activity is growing in the north.

Realtors Association of the Palm Beaches (RAPB) counted 409 home sales closed in the county since the beginning of 2014, with 305 of them listing country of origin. Of that 305, Canada easily topped the list, with 142, or 47 percent. Argentina placed second with 30, or 10 percent; Brazil third with 20, or 7 percent; and Finland fourth with 13, or 4 percent.

Suzanne Stoll

So why does Canada dominate?

“They all tell me everything is cheap around here compared to Canada, and they love to spend time down here because of the weather,” Suzanne Stoll, a Palm Beach-based realtor who specializes in foreign buyers for Illustrated Properties, told The Real Deal.

“They also hear Palm Beach County is quieter than Miami-Dade, and they like that lifestyle,” she said. And, of course, Palm Beach County represents a shorter trip for Canadians than Miami-Dade.

To be sure, the U.S. dollar has soared 13 percent against its Canadian counterpart over the past year, making the purchases more expensive for Canadians. But if the greenback continues its rise, it will make the homes worth more in Canadian dollars if the buyers want to sell in the future.

While Canadians head the foreign buying parade in Palm Beach County, Latin Americans rule the roost in Miami-Dade, accounting for 68 percent of foreign and domestic purchases combined.

“Miami gives the Latin home buyer everything they are looking for—the language is familiar, the culture is familiar, and it’s clean and safe compared to Latin America,” David Cobb, regional director of Metrostudy South Florida, told TRD.

Of course, the numbers show that Latin Americans are beginning to come to Palm Beach County too, and that trend will continue, local real estate professionals say.

“Miami-Dade and Broward are pretty much all built out. The majority of vacant land in South Florida is in northern and western Palm Beach County,” Jack McCabe, CEO of McCabe Research & Consulting in Deerfield Beach, told TRD. That equates to more space and lower prices in Palm Beach County. “So we will see Latin American buyers move up north,” he said.

Local broker Teresita Gutierrez-Reoyo said that China is the next country to buy in Palm Beach County.

“Chinese buyers now focus on Miami, Orlando and Tampa, but my business contacts indicate there will be interest in Palm Beach,” Gutierrez-Reoyo, a broker with Keller Williams Realty Boca Raton and chairman of RAPB’s Global Business Alliance, told TRD.

An aerial rendering of Century Park West

A local homebuilder just took out an $11.2 million mortgage, likely to finance the first stages of a housing community.

Apollo Bank made the loan to the Century Homebuilding Group, headquartered in Doral, Miami-Dade County records show.

Century Homebuilding mortgaged a 7.2-acre lot that’s adjacent to the Miami Christian School at 200 Northwest 109th Avenue. The school used the lot as a baseball field, but sold it to Century last year for $300,000, according to Miami-Dade property records.

Now, the company is marketing the apartment community as Century Park West, which will include 163 units ranging from 1,000 square feet to 1,500 square feet.

Century is also in the midst of building Midtown Doral, a planned mixed-use project similar to Miami’s Midtown with 300,000 commercial space, 100,000 square feet of office space, a hotel component with about 100 rooms, and more than 1,500 residential units, Sergio Pino, Century Homebuilders president and founder, told TRD.

From the New York website: Panelists at The Real Deal‘s New Development Forum & Showcase on May 12 predicted a second wave of Chinese investment in New York City real estate, following a record year of capital flow that saw more than $3 billion pumped into the market.

Xinyuan Real Estate’s John Liang, Allied Capital and Development president Nicholas Mastroianni, EB-5 immigration lawyer Mona Shah, Kuafu Properties’ Jeffrey Dvorett and Sotheby’s International broker Nikki Field joined TRD Editor-in-Chief Stuart Elliott for a discussion on foreign investment, which is helping fuel the rapid growth of New York City’s real estate market. In the above video, our panelists riff on the future of EB-5 financing, how brokers can appeal to foreign buyers and more. — TRD 

The top three most expensive listings to hit each of the tri-county real estate markets — Miami-Dade, Broward and Palm Beach — over the past week ranged from $2.9 million to nearly $15.5 million, according to Zillow data. Miami-Dade had the priciest property and a home in Broward was on the low end.

Miami-Dade

#1 A seven-bedroom, seven-and-a-half bathroom mansion at 97 La Gorce Circle in Miami Beach was listed for $15.5 million. The 7,849-square-foot home includes a gourmet kitchen, wine cellar and rain showers. The property features a separate guest house with a home theater, a dock for up to a 160-foot yacht, and a pool and patio deck. Iris Klein of Macken Realty has the listing.

#2 Architect Max Strang designed this new Venetian Islands home at 708 West Dilido Drive in Miami Beach. The six-bedroom, six-and-a-half bathroom house includes limestone floors, white oak floors and an open floor plan. It was built in 2015. The listing includes interior design by Gachot. Iris Klein of Macken Realty is the listing agent for the 6,400-square-foot home, which is on the market for $13.8 million.

#3 Unit 3400 at Asia, a Brickell Key condo tower, is on the market for $8.75 million. The 4,635-square-foot residence has five bedrooms, seven bathrooms, maid’s quarters, and is furnished by Artefacto. Carlos Jaen of Real Estate Sales Force is the listing agent for the condo at 900 Brickell Key Boulevard.

Palm Beach

#1 An equestrian estate in Wellington was listed for $7.5 million. Located at 14269 Belmont Terrace, this 6-acre property includes a 4,488-square-foot, three-bedroom, three-bathroom home. Its main feature is a 30-stall farm that’s currently being built out. The listing says when completed, it will have a grand prix jump field, lounging ring and all-weather ring, all within a short trot to the Winter Equestrian Festival showgrounds. Travis Laas of Engel & Voelkers has the listing.

#2 Another equestrian estate in Wellington has just hit the market for $7.25 million. The 6-acre property at 2389 King Terrace has a 7,762-square-foot home with five bedrooms and four bathrooms, along with a 30-stall facility. Described as a “professional farm,” the home has an Olympic all-weather ring, grass jumping field and a detached storage garage. Carol Sollak of Engel & Voelkers has the listing.

#3 The waterfront mansion at 15106 Palmwood Road in Palm Beach Gardens is up for sale at $5.9 million. Arguably its most interesting feature is a wooden boat dock, which crosses to a nearby island with its own sun deck and thatch-roofed hut. The 11,822-square-foot home has five bedrooms, seven bathrooms, an insulated wine room, a home office and three balconies with water views. The property is listed by Danielle Munson of Platinum Properties.

Broward

#1 The contemporary home at 2523 Castilla Isle in Fort Lauderdale was just listed for sale at $3.2 million. Its listing says it was completely rebuilt in 2005, and includes a floating staircase, imported Italian Bazaza glass tiles and stone floors. The 5,173-square-foot home sits on a waterfront lot and has four bedrooms and four-and-a-half bathrooms. Marika Hartman of Coldwell Banker Residential Real Estate is marketing the property.

#2 A Fort Lauderdale home steps away from the beach is on the market for $3 million. The 6,950-square-foot residence is across the street from the beach at 1799 North Fort Lauderdale Beach Boulevard. Each of its five bedrooms have ocean views, and the entire house was renovated in 2006. The listing also says a new roof and AC units were installed two years ago. Anja Hessert of Engel & Voelkers has the listing.

#3 Jason Derulo’s Coconut Creek mansion can be yours for $2.9 million. Located at 7555 Northwest 39th Avenue, the 10,637-square-foot home occupies a 2.5-acre lot with its own nature preserve. It has nine bedrooms, nine bathrooms and a four-car garage. The home’s floors are Italian marble, its appliances are modern and rooms include a recording studio to a dance area. Tim Elmes of Coldwell Banker and Colleen Kaye are the listing agents.

Renderings of the condo-hotel at 6080 Collins Avenue

A joint venture between Urbis Real Estate and Domus Group, led by a group of Argentine developers and architects, announced the launch of 6080 Collins Avenue Beach House, a new condo-hotel project in Mid-Miami Beach.

The proposed $30 million, six-story hotel residence with Streamline Moderne architecture, will have 70 studios and one-bedroom residences, starting at $263,000.

Studios will average 385 square feet; one-bedrooms 460 square feet, with varied floor plan configurations, according to a release. Each unit will have a deep private balcony, with corner units featuring a wrap-around terrace. Three ground level residences will have a private garden.

The project, which is across the street from waterfront properties, is designed by Chisholm Architects, with execution by Charles H. Benson Associates.

The Sandberg Nortmann Group at Douglas Elliman Real Estate is handling sales. So far, more than 30 percent of the units have been pre-sold to investors from Latin America and the United States, the release said.

Among its features, the development will have a rooftop pool and gym, water wall, Jacuzzi hot tubs, lobby entrance, café, Wifi, housekeeping, concierge app and valet parking. Each unit will have designer furnishings and high-end finishings, the release said.

Groundbreaking is scheduled for the fall, with completion projected by winter 2016.

Alex Rakover, Flavio Rossato and Pablo Hoberman lead 6080 Collins, LLC, a joint venture of Urbis Real Estate and Domus Group.  6080 Collins Avenue Beach House will be affiliated with the hospitality company Eskape COLLECTION- apartments + hotels, headed by Rossato. The company specializes in managing single-family and boutique properties, including 1215 on West and 1818 Meridian House, both in South Beach.  — Ina Cordle