Monad Terrace Plans VIP Groundbreaking Ceremony and Secures $62.5M Construction Loan
The developer of Monad Terrace, JDS Development, has officially secured $62.5 Million in construction financing for the ultra-luxury condo tower in South Beach, and with construction underway, a VIP Groundbreaking Ceremony is scheduled for October 25th.
The construction financing includes $42.5 Million in mezzanine financing from the Vanbarton Group and a $20 Million senior loan from the Bank of Ozarks. Moreover, JDS Development, together with New Valley, invested a fresh $40+ Million in equity to show their deep commitment to this project and secure the construction financing.
Construction on the luxury condo project began a few months ago with a process dubbed ‘foundation soil mixing’ where they inject cement into the ground to create the solid, waterproof foundation. The foundation soil mixing is more than 50% complete, and the project is expected to go vertical by March of 2018 with completion slated for Q3 of 2019.
Monad Terrace is Truly Unique…
Monad Terrace is truly an architectural masterpiece composed of only 59 bespoke waterfront residences, including 4 awe-inspiring penthouses-one of which has already been sold, beautifully wrapped around a glittering lagoon on Biscayne Bay, providing natural light indoors that seamlessly flow through the expansive outdoor spaces while being sheltered by climbing gardens.
Each residence at Monad Terrace is strategically oriented to maximize the views, while simultaneously providing privacy. Residences boast 10-foot ceilings, floor-to-ceiling windows, custom oak wood flooring, custom flush doors and a unique black Zeus marble and black mirrored entrance. Gourmet kitchens and bathrooms at Monad Terrace are exclusively custom designed by Ateliers Jean Nouvel, striking a balance of discretion and boldness. Kitchens feature Calacatta Gold marble surfaces, sculptural cantilevered marble islands, mirrored honeycomb glass cabinets and fully-integrated premium Gaggenau appliances. Master bathrooms boast Calacatta Gold marble flooring and slab walls, free-standing soaking tub, steam showers and Vola fixtures, while secondary bathrooms offer floating wood vanities, Sugar Gold marble countertops and concealed lighting and powder rooms feature Verti Capri stone.
Monad Terrace also offer bespoke, luxury amenities to effortlessly suit the residents of this creative residential work of art. Amenities include a lagoon fitness and wellness center, exclusive bicycles and paddle boards, residents’ social lounge, café and juice bar, a sun deck overlooking Biscayne Bay that offers a 116-foot-long swimming pool, hot tub and pool service, in addition to 24-hour security, concierge services and full-service valet parking.
1. Remarkable Design by Pritzker-Prize-Winning Ateliers Jean Nouvel
When someone first told me about Monad Terrace, my first reaction was that it was just another new condo building in Miami Beach. But, it is NOT…not at all. This development is exceptional. Not only is it designed by Pritzker-Prize-winning Ateliers Jean Nouvel, but it is his only residential project in Florida, and this is important because he is very meticulous about what projects he takes on.
By collaborating with JDS Development Group and Miami-based Kobi Karp Architecture & Interior Design, Nouvel was allowed to freely see his true ingenious vision through for this project. Most developers do not allow architects to have free rein with their design, thereby affecting the overall product; however, because Jean Nouvel could fully design this project with little to no pushback, he created a truly unique special development specifically for the area surrounded by Biscayne Bay. “A building must have the vision of its city,” said Jean Nouvel. “In Miami, you have the blue horizon which is beautiful, and you have the downtown skyline across the water which is beautiful. In South Beach, you have nature, composed by architecture.”
Nouvel meticulously designed Monad Terrace to embrace the tropical weather and water views that so entice people to live in South Florida. Specifically, Nouvel artfully directs the play of daylight and water throughout the project. “Of course, it’s all about the water. And all the design work is to create a vision framing the lagoon and the bay. And the reason is because there is so much to see, from the lagoon to the bay, to boats at the dock to the skyline of downtown and the sunset and the fantastic view across the water.” Nouvel successfully achieved this by strategically placing high-tech honeycomb screens on the exteriors of the residences to precisely calibrate views and seclusion. Further, the placement of reflecting pools on select residence terraces bounce dappled light deep into living spaces, while the signature water garden—the central lagoon, reflection pools and adjacent swimming pool—draws the feeling of sparkling Biscayne Bay into the heart of the property. Light and water, glass and steel, gardens and façades all combine into what Nouvel has dubbed “the reflection machine”. Pure genius.
2. Flood Proof – 11.5 Feet Above Sea Level & Waterproof Parking Garage
Monad Terrace was meticulously designed with innovative climate resilience features and will be the very first new condo tower on West Avenue to meet Miami Beach’s stricter elevation requirements to adapt to our changing climate. For example, the bottom floor of the luxe tower will be elevated 11 and a half feet above sea level, which will far exceed the height of the flood plain. The developer then went further to include a parking garage that will use a “waterproof bathtub” design that will make it flood-proof.
3. Coconut Grove Vibe in South Beach
Anyone who knows me, knows that I absolutely love Coconut Grove (I am a resident), commonly referred to as “The Grove.” The Grove is a bayfront, boating community that has a laid-back, Bohemian-style feel amid an abundance of parks, organic lush foliage, historic tree canopies and an assortment of marinas, while also offering an eclectic variety of shopping, restaurants, art galleries and entertainment. Coconut Grove just has an overall different feel than Miami Beach…usually…Monad Terrace has a Grove vibe, which makes it truly unique. Although Monad Terrace is situated in the heart of vibrant South Beach, the architectural intelligence by Jean Nouvel allowed this boutique development to really embrace the natural beauty of South Florida, unlike other developments on the beach. From the placement of native plants throughout including the climbing Bougainvillea gardens, to the utilization of the honeycomb screens to reflect the water and the natural light, the overall design of the building exudes a sense of calmness and relaxation, while maintaining a rich luxurious feel.
Sales and Marketing for Monad Terrace
If you, or someone you know, are interested in purchasing a luxury condo at Monad Terrace in the heart of South Beach and would like an exclusive presentation of the iconic development, please contact Broker Associate Michael Light, Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman Real Estate and Senior Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at email@example.com.
Miami Luxury Homes
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