Terra Beachside Villas, the once-distressed Miami Beach condo building that has sat empty for two years, is searching for new life as its owners look to complete a rapid turnaround from foreclosure to full health.

In the past nine months, Miami Beach-based partnership BH III has bought the distressed property from the bank, restarted construction and secured buyers for more than half of the units, said Gregory Freedman, a principal at BH III. After weeks of waiting, the condo developers received a Temporary Certificate of Occupancy this week, opening the door for contracts to be finalized and new owners to start moving in to the condos at 6000 Collins Ave.

BH III -- a partnership between Freedman, Charles Phelan and Daniel Lebensohn -- had to reduce prices drastically from what the original developer asked for back in 2004, but has seen interest spike as a result, Freedman said.

About 65 percent of the 117 units -- priced between about $250,000 and $685,000 -- have found buyers since sales kicked off in March, capitalizing on interest spanning from Coral Gables to Colombia, according to Freedman.

``We've really exceeded our expectations, considering that we had construction still going on,'' said Mark Pordes, president of Pordes Residential, the sales arm for Terra. ``Our goal is to be completely sold out by year's end -- that's what we're shooting for.''

If Pordes' optimistic sales projections pan out, Terra would represent one of the swiftest transitions to full health for a distressed property during this economic downturn.

``Price is certainly the motivator,'' said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors. ``In the last 24 months, inventory has dropped in half and sales have doubled, and most of that new activity is because of price reductions.''

Freedman said he decided to buy Terra shortly after its lenders foreclosed in 2008, believing there would be a strong market for new Miami Beach condos even in a recession -- if the price was right.

``There is no competition for us at our price point,'' he said.

BH III was initially outbid by other investors in 2008, but, with the uncertainty of the market, none of the deals materialized, Freedman said. A year later, his group came back with another offer, lower than the first, and Regions Bank accepted it.

BH III did not disclose how much it paid to acquire the condo building, which features a 400-foot long atrium, 18-foot ceilings inside units and a 3-story cone-shaped lifestyle center. Construction on the project was recently completed, nearly seven years after Terra originally broke ground.

Terra launched in the early stages of the housing boom, quickly selling out all of its units during construction. As soon as the property -- designed by architecture firm Seiger Suarez -- went up, problems began.

First, hurricanes in the summer of 2005 stalled construction and increased material costs. Then the recession took hold, leaving the under-funded project seeking more cash and fighting liens from contractors. The lender, which itself had been sold to another financial institution, chose not to pour more money into the project, and construction on the nearly-completed project sputtered to a halt.

Buyers demanded their deposits back, with some filing suit against the stalled developers, and the lenders eventually decided to foreclose in December 2008.

Terra sat idle and empty for almost two years before BH III bought it and restarted construction and sales.

In the months since, Pordes' team has launched a sales campaign from a trailer on the property, targeting buyers in countries like Brazil, Colombia and Venezuela.

About half of the buyers are from South America, yet another instance in which foreign buyers are propping up South Florida's troubled real estate market.

The sales have come at a price far below what the original developers asked for: between $600,000 and $1.5 million six years ago.

In May, BH III bought up the last 25 units at the Fountainbleau Sorrento, about two miles south of the Terra Property, for $7.2 million, about $288,000 per unit. According to Freedman, four of those units have already been purchased.

SEPT 10. 2010
MIAMI DESIGN DISTRICT 6-10 PM

**FOR THE RECORD: I dream with Chef Michael's Chocolate Cremoso - YUM**

Joe’s Famous Key Lime Pie at Joe’s Stone Crab

For 98 years, no visit to Miami has been complete without stopping in at Joe’s Stone Crab. From the beginning, it has always been the love of food, family, and key lime pie that has brought in customers and kept them coming. Also known as the official “Florida State Pie,” Joe’s Famous Key Lime Pie is a signature standout. Made with fresh limes, its ingredients are as simple as they are delish. Need your key lime fix at home? Joe’s generously shares their signature key lime pie recipe here.

11 Washington Ave., Miami Beach; 305.673.0365; http://www.joesstonecrab.com/Download/SummerMenu10.pdf

Carnival Fun Cakes at Barton G.

Come one, come all! Barton G.’s Carnival Fun Cakes are a desert of circus-sized proportions.When it comes to style and spectacle, event impressionado Barton G. Weiss – Barton G.- has mastered the art of environmental transformations. The desert is comprised of golden delicious funnel cakes with fun dipping sauces of chocolate, strawberry, caramel spiced powdered sugar and fresh whipped cream.

1427 West Ave., Miami Beach; 305.672.8881; http://www.bartong.com/

Grand Marnier Souffle at Palme d’Or

Served with Blue Mountain coffee, few deserts in Miami measure up to Palm d’Or’s Grand Marnier Souffle. As the Biltmore’s signature restaurant, Palme d’Or brings a taste of France to Coral Gables and Chef Philippe Ruiz has won accolades for his ingenious interpretation of French Nouvelle Cuisine. Made with fresh orange segment, creme anglaise, orange marmalade ice cream, this souffle is as decedent as it is delicious.

1200 Anastasia Ave. in Coral Gables; 305.913.3201; http://www.biltmorehotel.com/dining/palme.php

Chocolate Zucchini Cake at Canyon Ranch Grill

For the healthy foodie, desert is often a skipped element in the dining experience. But at Canyon Ranch Grill, the most health conscious of health conscious can indulge in a creative yet utterly delicious Chocolate Zucchini Cake. Healthy and beautiful, this desert consists of of chocolate zucchini cake and candied zucchini strings. And because this sweet little number weighs in at only 160 calories, you can have your (zucchini cake) and eat it too.

6801 Collins Ave.; 888.987.9876; http://www.canyonranchmiamibeach.com/

Chocolate Cremoso at Michael’s Genuine Food & Drink

At Michael’s Genuine Food & Drink, pastry chef Hedy Goldsmith serves up a chocolate cremoso to die for. Made of sea salt, olive oil, sourdough costini and espresso parfait, this desert is perfect with a cup of tea. A laid-back bistro with seriously good food and deserts, Michael’s Genuine has won the hearts of Miami diners, especially desert enthusiasts.

130 NE 40^th Street in Miami’s Design District; 305.573.5550; www.michaelsgenuine.com; www.thegenuinekitchen.com

NBC's The Marriage Ref -- which relies on a panel of celebrities to weigh in on the marital conflicts of bickering couples -- is holding an open casting call in Miami Beach starting Friday.

All happy, or perhaps unhappy, that have a long-standing argument or issue that must be resolved can try out.

The casting team for the comedy panel show, created by Jerry Seinfeld, is searching the country for ``outgoing and opinionated married couples,'' notes the show's press release, which also notes:``No problem is too small or too strange!''

OPEN CASTING CALL LOCATION:

Miami Home Design & Remodeling Show

Friday-Tuesday at the Miami Beach Convention Center.

Hours: Friday 6-10:30 p.m.; Saturday and Sunday, noon-10:30 p.m.; Monday (Labor Day) noon-7:30 p.m.; Tuesday 6-10:30 p.m.

There are two ways to be considered for casting:

• Interested couples can show up to the Casting Booth at the Home Design & Remodeling Show without an appointment.

• Set an appointment time to interview with us by e-mailing your request to: Casting@themarriageref.tv

If you make an appointment, include your contact info, photos and a paragraph about why you are the perfect couple for this show and a brief explanation about your arguments.

Maria Tettamanti8/19/2010

The lowdown: Locals are loving Midtown Miami. Between its fresh mix of residences, retailers (Target! West Elm! Imagine!), restaurants (Sugarcane! Cheese Course! Five Guys!), offices and activities such as Miami Children’s Music, there’s a palpable energy here. The latest addition? Cherry Bomb Boutique. Like its SoBe-based sister locale, the shop is chockfull of contemporary clothing, swimwear, handbags, jewelry, shoes and even candles.

Co-owner Rosilyn Leon says, “We present modern, attainable, on-trend apparel in a contemporary, service-oriented setting.”

The ‘hood: The everything-in-one-place mecca — Midtown Miami. Located in the back of the shopping blocks, Cherry Bomb is a saunter away from Lime, Loehmann’s, Mercadito, NailBar, Dog Bar and more.

The ambience: White walls with pops of reds exude a modern vibe. Large windows beckon passersby to pop in and browse.

Highlights: Scoop up labels such as Joie, Myne, Alice + Olivia, J Brand, BB Dakota, Dolce Vita, Indah, J.J. Winters, Sabina NY, Gemma, Aaron Ashe, Splendid, Kendra Scott Jewelry, Ella Moss, Ark & Co, J and Ali Ro. Light up your life with Voluspa and Archipelago candles. Up-and-coming jewelry designers are also de rigueur.  

The co-owner says: “Cherry Bomb offers clothing and accessories that exude a sense of ease, edginess and femininity,” Leon adds.

**but.. but... I liked the white helmet! I liked the old uniform (pout) ** <<this is my own comentary by the way

Never mind Danielle, Earl and Fionna. Miami's real Hurricane season kicks off tomorrow as the University of Miami takes on FAMU. Though, a day before the kickoff there's two interesting tidbits of Hurricanes news. At an event earlier today in NYC, Nike unveiled a new special edition uniform that, at first glance anyway, is burning our eyes. Also out of New York: rumors that the Canes may schedule a 2013 game at Yankee Stadium.

For the second year in a row Miami has been chosen as one of a handful of teams to receive a special edition Nike Pro Combat Series uniform. The high-tech, light weight uniforms are designed specifically for each team, and Miami liked last year's rather simple white uniform so much they wore it twice.

This year's however is heavy on the Orange and is giving us visions of Aquaman. Actually, the uniform's color scheme rather resembles one already worn, coincidentally, by the FAMU Rattlers. We've talked to some people who like it though, so maybe it's a matter of personal opinion.

We do however very much like the sweet looking all green helmet and shoes. You can view a slideshow of the uniform here. If you look closely you'll see that a palm frond print is incorporated into various elements. The Canes will wear the uniform during the November 20th game against Virginia Tech, though they have the option to use the new get up during other games as they did last year.

via Hurricane Sports

Another bit of Hurricane news out of NYC: The Hurricanes are in discussion about playing a 2013 game in Yankee Stadium. We bet A-Rod is excited. The Canes once played a Bowl game back in the '60s in the old Yankee Stadium, but like much of College football hasn't returned to the Big Apple. No word on who the opponent would be. Outside of ACC play the Canes already have games scheduled in 2013 against USF and, of course, Florida.

Giving us more reason to rename this column ``LeBron in the Tropics,'' LeBron James was seen eating at the Prime Hotel Thursday night with New Orleans Hornets player Chris Paul. The night before, the New York Knicks' newest superstar, Amare Stoudemire, pulled up at Prime 112 in a limousine bus full of 20 friends. Stoudemire put his five-year, $100 million contract to good use as he and his entourage sat in the center of the star-studded steakhouse eating dinner, taking shots and drinking bottles of champagne.

On Friday, James threw a surprise birthday party for his girlfriend, Savannah Brinson, at Red, The Steakhouse, bringing in a mixologist who prepared Atlantico rum cocktails for his guests, including Paul, Udonis Haslem and Dolphins receiver Brian Hartline, among others.

Meanwhile, the Heat's boss, Pat Riley, was seen leaving Blue Door at Delano hand-in-hand with his wife, Chris, Thursday after a late afternoon lunch on the terrace.

Jeffrey Donovan and his Burn Notice co-star, Bruce Campbell, were at Anise Waterfront Saturday night for dinner and omnipresent Kim Kardashian was spotted noshing at The Forge.

Have you always dreamed of running with a boy band? Join Joe Jonas at his eponymous 1Win 5K Fun Run/Walk benefiting Special Olympics Florida on Monday at the main campus of Nova Southeastern University in Davie. Registration fees are $30 per person between now and Sept. 5, or $45 per person for day-of registration. Fees include a commemorative racing bib and finisher's prize. For more information, or to register please visit www.jonasfunrunfl.com or call 954-262-2150.

For more than a decade, local and federal authorities have taken a Band-Aid approach to Miami Beach's swiftly eroding 63rd Street beach, repeatedly and expensively replenishing the shoreline with hundreds of thousands of cubic yards of sand.

But it soon might be time for surgery.

The US Army Corps of Engineers has $1.2 million available in federal funds and is currently seeking a permit for an offshore breakwater in the vicinity of 63rd Street, considered an erosion ``hot spot'' by local and federal authorities.

Using a unique design, engineers have put together a plan to install three swaths of reef balls parallel to the shoreline at about 500 feet out. The mostly six-foot-tall reef balls -- which look a bit like concrete whiffle balls -- are generally associated with reef restoration. But the Beach plan calls for them to be anchored on a flat platform to buffer wave power and help restore the shoreline.

The three sections could be as long as 1,250 feet and as wide as 41 feet, according to a July report.

``This area was one of the two worst areas in the entire county that we identified back in the '90s, and we've been looking forward to getting something done here,'' said Brian Flynn, head of beach renourishment for the Department of Environmental Resources Management, which would eventually monitor and maintain the structure. ``We feel this breakwater project is something that from a long-term perspective will help us deal with the area.''

Todd Barber, chairman of the Reef Ball Foundation, a not-for-profit that constructs the domes, said the structures are ``full of holes shaped to create whirlpools'' that drag the flow of water down and allow sand to drop and build up along the shore.

But opponents of the proposal question the research surrounding the experimental breakwater and say it may be a dud, or actually make matters worse.

``It appears more like wishful thinking,'' said Michael Walther, president of Coastal Tech in Vero Beach and a member of the Surfrider Foundation, an environmental organization opposed to artificial structures in the ocean.

Walther and other opponents note that there has been no scientific peer review of the use of reef balls as breakwaters. They also say structures such as the one planned off of North Beach don't create sand, but affect its movement, meaning if the 63rd Street area is restored it is likely an area of the beach downstream will begin to erode.

Barber said people are rightfully skeptical, noting past breakwaters have caused problems.

Longtime residents may remember the numerous jetties -- 130 at one point according to Flynn -- that decades ago jutted out perpendicular to the shore, stopping the flow of sand and creating erosion problems downstream, leading to additional jetties. And more recently, a 2002 county breakwater project at 32nd Street began to create issues, leading at one point to calls for removal of the three stone structures.

But Barber and engineers with the US Army Corps say newer projects are more specialized, and the alternatives -- doing nothing or continuing to replenish -- aren't practical.

The issue: throwing sand at the problem is costly, and resources are limited.

``One of the reasons we're looking more toward structures on this particular project is that offshore sand resources have almost been exhausted,'' said Charlie Stevens, project manager for the US Army Corps of Engineer's shore protection projects. ``We're looking for more permanent solutions.''

Stevens said that if everything runs on schedule, the beach would be renourished next spring or summer and the project would begin some time in 2012.

 

6300 block Collins Avenue, Miami Beach FL

To help you make your coffee break even more fabulous, Café Sambal, M Coffee Bar and illy caffè will host Coffee Sense, a special event on from 8 to 11 a.m. on Wednesday, September 8, 2010. Meet Master Barista Giorgio Milos and discover all that goes into making authentic Italian illy espresso, from the history and origin of the coffee to the agronomy and chemistry of the coffee bean.

Awarded Master Barista status by the Specialty Coffee Association of Europe, Milos placed among the world’s top craftsmen in the World BaristaChampionships. With unparalleled knowledge, Milos is on faculty at Università del Caffè, a dedicated facility at illy caffè’s Trieste headquarters where the world’s leading restaurateurs, chefs and café owners attend master coffee training. Milos will demonstrate proper consumption technique and presentation of espresso and espresso-based beverages.

Guests will enjoy Italian specialty beverages and receive a complimentary illy recipe booklet. Stop by anytime between 8 and 11 a.m. at M Coffee Bar located in the lobby of Mandarin Oriental or at Café Sambal, the hotel’s waterfront restaurant.

Cafe Sambal and M Coffee Bar are located Mandarin Oriental at 500 Brickell Key Dr., Miami. For more information, call 305.913.8358. There is no charge to attend the event.