Developers Ugo Colombo and Nadim Ashi are moving forward on their planned Four Seasons-branded luxury condo project in Miami’s Coconut Grove.
Sales are already underway, with buyers skipping reservations and signing contracts for units at the planned 20-story, roughly 70-unit building, a source said.
Colombo’s CMC Group is partnering with Ashi’s Fort Partners to develop the Four Seasons Private Residences at 2699 South Bayshore Drive, The Real Deal previously reported. CMC owns the property, which is home to the former Offices in the Grove building that’s being demolished. Mast Capital sold the site to CMC for an undisclosed amount, by trading the company that owns the property, records show.
New information shared by real estate brokers states that interior designer Michele Bönan was hired to work on the project. The units will range from three to four bedrooms and from nearly 3,000 square feet to about 4,000 square feet, plus terraces.
Fort Partners owns all of the Four Seasons properties in South Florida. The firm developed the uber successful Four Seasons Hotel and Residences at the Surf Club in Surfside, the Four Seasons Hotel and Residences Fort Lauderdale, and owns the Four Seasons Miami hotel in Brickell and Four Seasons Resort in Palm Beach. Fort Partners typically handles sales in-house.
The Coconut Grove tower will include a restaurant on the first floor, a gym, spa, yoga room, children’s room, lounge and bar, with access to Four Seasons amenities, including dining, spa, housekeeping and grocery services.
It could be completed in 2027, according to marketing information, though construction on the new building has not yet begun.
Representatives for CMC did not respond to a request for comment.
In Coconut Grove, Colombo’s CMC is also developing the nearby Vita at Grove Isle luxury condo building on the waterfront site at 4 Grove Isle. CMC scored a $239 million construction loan for Vita from Bank OZK in January.
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Coconut Grove has undergone significant redevelopment over the past decade. David Martin’s Terra developed the two-tower Grove at Grand Bay condo project in 2017. Terra partnered with Related Group on the nearby three-tower Park Grove development, the final phase of which was completed in 2020. Terra’s Mr. C Residences, a two-building condo project also nearby, is almost completed.
Across the street from the Four Seasons site, the Treo Group developed the mixed-use marina on city-owned land, which includes the Regatta Harbour and Bayshore Club restaurant.
Branded residences have also boomed across South Florida, with most concentrated in Miami-Dade County. Brands partnering with developers include Ritz-Carlton, Bentley, Aston Martin, St. Regis, Baccarat, Auberge Resorts, Pagani, Mercedes-Benz and the Standard.