courtesy of Elysee Miami/Two Roads Development
Two Roads Development closed on a $22-million purchase of waterfront land on Biscayne Bay that will house Edgewater's newest luxury tower in the 57-story Elysee, which is scheduled to break ground by the second quarter of 2016.
Located at 700 NE 23rd Street, the financing for the land was provided by DW Commercial Finance, LLC and other entities managed by DW partners. Elysee will be designed by Miami architect Bernardo Fort-Brescia of Arquitectonica and interior designer Jean-Louis Deniot. The project will contain 100 luxury residences ranging in size between three and five bedrooms and 2,600 and 4,000 square feet. The building will display a three-tiered telescoping shape with only two units per floor. Prices range from $1.65 million to over $10 million.
"We are pleased that the project site can be cleared now and look forward to proceeding with construction in the months ahead," said Jim Harpel, senior partner and chairman of Two Roads Development. "This is a special waterfront property in one of Miami's most desirable neighborhoods, and we believe Elysee's prime location, price point and boutique design puts the project in an ideal position."
Elysee is pegged for completion in 2018.