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The Big Chill -- High Tax States Fear Buyers Headed to Florida

February 5, 2019

MIAMI--(BUSINESS WIRE)--Feb 5, 2019--Miami is known for its sunny, splendid year-round weather. It is also known for its tax-friendly climate. And as the Wall Street Journal reported today, high-tax states like NY fear big earners will soon bolt to low income tax states like Florida.

Fortune International Group -- a recognized leader in development has witnessed this trend and is targeting these potential buyers by most recently hosting an event at Manhattan’s chic Lowell Hotel located on the city’s Upper East Side, where they provided an exclusive opportunity to introduce over 200 leading New York real estate professionals and prospective homebuyers to a curated selection of Miami’s most prestigious properties including Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, 57 Ocean, Brickell Flatiron, Monaco Yacht Club & Residences, Missoni Baia, Una Residences, and 2000 Ocean.

Fortune’s showcase featured in-depth insight into the many advantages that tax-friendly states like Florida offer New York residents with a special discussion on the financial benefits of investing in Florida real estate by tax expert Barry Horowitz, CPA and partner at Withum. Said Horowitz, “There are a lot of rich folks trying to get out of New York.”

“The showcase provided an up-close look at our collection of prime, luxury properties in Florida. The interest was phenomenal and produced a bigger turnout than what we expected. As a result our showcase tour will continue throughout the northeast next month and the rest of 2019,” said Edgardo Defortuna, CEO Fortune International Group.

Among the properties on display included:

Jade Signature: The award-winning, 57-story, 192-unit residential tower is well-sited along 300 feet of oceanfront in Sunny Isles Beach. Developed by Fortune International Group and created by internationally renowned, Pritzker Prize-winning architecture firm Herzog & de Meuron, Jade Signature has become an architectural icon -- recently recognized as one of the Top 10 global skyscrapers for 2018 by Dezeen. The superstar team of visionaries behind the tower’s design additionally includes Parisian interior design firm PYR, led by Pierre-Yves Rochon, and premier landscape architect, Raymond Jungles. The Ritz-Carlton Residences, Sunny Isles Beach: Presented by Fortune International Group and Château Group, the 52-story tower topped off on Nov. 30 and has become a standout on the coastline. Designed by Arquitectonica with interiors by renowned Florentine designer Michele Bönan, The Residences will transcend fine living, offering a life enriched by artfully designed homes, 250 linear feet of beachfront, a private 33rd floor club, spa, state-of-the-art fitness facilities, oceanfront and sunset pools, Kids Club, and the legendary service of The Ritz-Carlton. Una Residences: Developed by OKO Group, led by Vladislav Doronin, one of Europe’s most successful developers, Una Residences is a monumental condominium tower with designs by Adrian Smith + Gordon Gill Architecture (AS+GG). The waterfront condominium will soon soar within what was once Miami’s birthplace of modern high-rise living in the 1970s at the crossroads of Coconut Grove’s Main Highway and Brickell Avenue. At 47 stories, Una will be a marvel in and of itself, with a striking sculptured facade featuring clear modern lines and ribbon-like curves, inspired by the sinuous teak decking on the iconic Riva yacht. Missoni Baia: Designed by internationally acclaimed Hani Rashid of Asymptote Architecture and developed by OKO Group, Missoni Baia will represent the legendary fashion house’s first foray into residential real estate and is poised to set a new standard for quality and sophistication in East Edgewater. Designed by New York designer Paris Forino, the tower’s 249 elegantly crafted residences will be dressed in Missoni fabrics, furnishings, and artworks that complement Asymptote’s modern architectural design. 57 Ocean: This 18-story boutique residential building will soon begin construction at 5775 Collins Avenue on Miami Beach’s renowned “Millionaire’s Row.” The oceanfront project—the newest to be built in the neighborhood—is the vision of Brazilian developer José Isaac Peres and Miami-based MultiplanREAM. Comprising 81 exquisite residences and designed by globally-acclaimed architecture firm Arquitectonica, with interiors by Anastassiadis Arquitetos, 57 Ocean captures the spirit of an exclusive coastal resort with a sophisticated emphasis on healthy living. 2000 Ocean: Conceived as a private residential enclave by Enrique Norten – TEN Arquitectos, 2000 Ocean is highly sophisticated and offers not only an elevated landscape, but an elevated life. Located just north of South Florida’s Golden Beach, this contemporary, 38-story glass tower showcases panoramic views of the Atlantic Ocean, Intracoastal Waterway, and surrounding endless sandy beaches. Proudly positioned on the beach, and closer to the ocean than any of its neighbors, it is bathed with sunlight from sunrise to sunset. Monaco Yacht Club: A taste of the Côte d’Azur on the shores of Miami Beach, Monaco Yacht Club & Residences is a new, luxury bayfront condominium by Optimum Development USA. In collaboration with two of the most esteemed names in design, Piero Lissoni and international architecture firm Arquitectonica, the nautically themed, 11-story boutique project will feature 39 exquisite waterfront residences, offering the ultimate indoor/outdoor lifestyle. Located in the highly sought-after North Beach neighborhood of Miami Beach at 6800 Indian Creek Drive, Monaco Yacht Club & Residences is situated on one of the last remaining waterfront properties in the area. Brickell Flatiron: Downtown Miami’s hottest neighborhood celebrates a true architectural icon. These luxury Brickell condos are an urban oasis developed by Ugo Colombo and designed by Luis Revuelta. The tower of soaring glass, defined by sweeping exposures, enhances the skyline with persuasive curves. Inside, Italian interior architect Massimo Iosa Ghiniintroduces a design concept of fluid, continuous space by creating a seamless transition from Brickell Flatiron’s exterior.

To view photos from the Miami Luxury Property Invitational held in New York, visit link here.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190205005911/en/

CONTACT: Sissy DeMaria

Kreps DeMaria

305.663.3543

sdemaria@krepspr.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: BUILDING SYSTEMS LUXURY TRAVEL DESTINATIONS LODGING ARCHITECTURE INTERIOR DESIGN PROFESSIONAL SERVICES LANDSCAPE ACCOUNTING REIT BANKING URBAN PLANNING CONSULTING FINANCE RETAIL COMMUNICATIONS FASHION MARKETING PUBLIC RELATIONS/INVESTOR RELATIONS OTHER COMMUNICATIONS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Fortune International Group

Copyright Business Wire 2019.

PUB: 02/05/2019 02:57 PM/DISC: 02/05/2019 02:57 PM

http://www.businesswire.com/news/home/20190205005911/en

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