Real Estate

Billionaires Mega Yacht Attessa IV Docked in Miami

Billionaires Mega Yacht Attessa IV Docked in Miami

Miami has been a destination to over 13 millions visitors every year.

Late last month, we were visited by the super yacht Atessa IV, a 337-foot mega-yacht owned by Dennis Washington. Built in 1998, the super yacht has gone through a total redesign and renovation since its purchase in 2007, featuring helipad, a fifth-floor sky lounge and bar, a grand staircase flanked by Henry Moore sculptures, a lit pool and deck that includes a spa, and a completely redone engine room. Four rooms were transformed into a gym, a spa, and a massage room.

The Super yacht was moored at the Miami Bayfront Park adjacent to the American Airlines Arena. There aren’t many choices today for docking a ship of this size other than the Port of Miami in between the cranes.

There is a lot going on in Miami lately, new projects are changing the scene of this vibrant city, yet to debut with super luxury amenities and services cater to the super wealth. We are not talking just about building luxury condominiums but creating a whole infrastructure for a sustainable future.

According to the Knight Frank Report (2015) Miami ranked 6th as a destination for High Net Worth Individuals, and among the many planned projects we have a super yacht Marina underway, Island Gardens.

The Island Garden is an audacious project that will feature a super yacht marina on its 1st phase scheduled for completion late 2015, followed by 2 hotels, world class retail and restaurants for completion late 2017.


The Deep Harbor at Island Gardens will feature 5,000 liner feet of capacity, accommodating an average of 50 yachts stretching up to 550 feet with drafts between 18-25 feet deep. The Marina will include in slip fueling, customs and immigration clearance, 24 hours concierge and dock masters and much more.

According to the developer Flagstone Property Group, the project is scheduled for completion late 2015 for the Miami Boat Show, introducing a new show the Superyacht Miami by Show Management catered exclusively to SuperYachts. The project will contribute to a great economic impact of 98.1 million in sales tax during the first three years.

Click here for more information about Island Gardens Project

Development Real Estate

Miami’s sustainable growth by Nitin Motwani

Miami’s sustainable growth


Downtown Miami.jpgFort Lauderdale native and Wall Street veteran Nitin Motwani, 34, is the economic development and marketing chairman of Miami’s Downtown Development Authority and We spoke with him about Miami’s evolving economic engine and why developing intellectual capital is key to our future.

OCEAN DRIVE: How has downtown’s reputation changed?
NITIN MOTWANI: When we first got involved with Miami Worldcenter, we used to have to show people that one day the performing arts center will be completed, one day there will be a museum of art and science, a tunnel to get the 18-wheelers off the street. There were a lot of “what ifs.”

Are we growing too fast?
While there was never more excess than during the last boom, it was heavily leveraged. But the flip side is, this go around, most of it is equity. There’s very little leverage.

How is the DDA looking at sustainable growth?
Today, there are 1,000 units [in downtown] under construction that are paid for with cash. So there’s been a lot of development, but our city as a whole can sustain more. The city and county need to continue collaborating on big things such as infrastructure—the last thing you want to do when people want to invest here is tell them they can’t because we’re having a problem with infrastructure, and that goes for water and sewer, bridges and tunnels, etc. Also, by the FECI [Florida East Coast Industries] creating Grand Central Station and a train hub downtown that connects into the Metrorail and Metromover, you won’t need a car. There are talks about expanding the Metromover at the county, which I think is great if they connect it to the Beach and up into Midtown, Wynwood, and the Design District.

What about developing intellectual capital?
We’ve been trying to figure out other economic drivers for Miami. The Venture Hive building is a perfect example. Miami Worldcenter contributed the space and the build-out. The DDA is funding the accelerator itself. And the county is funding $1 million—$25,000 per 10 companies for four years. There are also 25 other companies that are “friends of,” so they benefit from the mentors, the programming, the attorneys, the collaboration. So in this building, there are more than 35 companies and over 70 employees that weren’t here two months ago in downtown. The only way to create a sustainable city is to have a diversity of people. When you walk through these spaces, these entrepreneurs are from all over
the world. And they have nothing in common except that all of them are making sacrifices to create a great company in Miami.

Ocean Drive, April 2013
by Aimee Dingwell