Shoma set to launch “11,” a townhome project near Lincoln Road
Townhomes will be priced from $3.2M to $4M, or about $1,000 psf
April 04, 2016 05:00PMBy Ina Cordle
Rendering of “11”
Shoma Group is about to launch its first residential project in Miami Beach, a luxury townhome development near Lincoln Road.
Called “11,” the project will offer 11 three-story townhomes priced from $3.2 million to $4 million, or about $1,000 per square foot, Masoud Shojaee, president of Shoma Group, told The Real Deal. Units will average 3,600 square feet under air conditioning, or 4,300 square feet including garages and balconies.
The townhomes, at 1030 15th Street — at the corner of Lenox Avenue and 15th Street — are being designed by Zyscovich Architects, with interiors by Charles Allem.
Shojaee said sales will launch in three weeks. ONE Sotheby’s International Realty will be the exclusive sales and marketing firm.
Among 11’s features: each townhome will have its own elevator and two-car garage, as well as a rooftop deck with pool and summer kitchen. The townhomes will also offer smart home technology, customized interior doors and windows, glass garage doors and Italian flooring, he said.
“This project is very unique in architecture and design and the features we are providing,” Shojaee said, “and the good thing is it’s a very boutique project.”
The development will be built on a segment of an AT&T parking lot. Shoma bought the 32,000-square-foot site in May 2015 from AT&T for $6 million, Miami-Dade property records show. Construction is expected to begin in late fall, once permits are secured. Shoma recently filed plans with the city, the Next Miami reported.
“There are not that many townhouses on the market that are two blocks from Lincoln Road, walking distance to the beach and to a lot of restaurants,” Shojaee said.
In addition to 11 in Miami Beach, Shoma Group is currently active in Doral. The company is partnering with the Related Group on the mixed-use development CityPlace Doral. Shoma also is planning two new condominium towers at Oasis Park Square Doral, as well as another project on Northwest 36th Street in Doral.
Source: The Real Deal