OKO GROUP

The OKO Group was established specifically to work in the development business in the United States and has a global track record in real estate. Working alongside many world class architects and designers, the OKO Group brings considerable financial strength to the development marketplace.

Aman Resorts Is Bringing $50 Million Condos to NYC

Scheduled to open in 2020, the resort will have 83 hotel rooms and 20 apartments.

By James Tarmy October 26, 2017, 3:31 PM EDT

Vladislav Doronin, the chairman and chief executive officer of Aman Resorts, the super-luxury hotel chain, is standing in the middle of a filthy concrete husk of a room in midtown Manhattan. “Look at this!” he says, gesturing through the dirt-stained windows of the 24th floor of the Crown Building, whose 4th through 26th stories he’d purchased with a partner for about $500 million in 2015. (The bottom three stories, which are for retail, are owned by other companies.)

“It’s not just the location,” he says, nodding to the fact that the Fifth Avenue building is on one of the most expensive, if not sought-after blocks in the world. It’s also the view. “I prefer to stay here, closer to the ground, to see real New York,” he says. “If you were on the 70th floor of some building, you’d just see clouds.”

To the right, across Fifth Avenue, is Trump Tower. The Plaza Hotel is visible to the left, and directly north, over the roof of the Bergdorf Goodman department store, a visitor can see an expansive stretch of Central Park.

In less than three years, Doronin plans to transform the building’s interior to match—and surpass—those views. 

What’s Inside

The fourth through tenth floors of the building will be occupied by New York’s first Aman hotel, which will have 83 hotel rooms, each measuring at least 70 square meters (753 square feet). 

The 11th floor and above (which will be developed by Doronin’s U.S. development arm, OKO Group LLC), will be transformed into 20, Aman-branded residences, crowned (pun very much intended) with a five-story, near-14,000-square-foot penthouse that will be priced in excess of $100 million. “When I bought Aman in 2014, the whole goal was to bring Aman into cities,” Doronin says—“to turn Aman from horizontal to vertical.”

By that, he’s referring to one of the brand’s primary and enduring allures: For years, very, very wealthy guests would make pilgrimages to Aman resorts perched on top of mountains in Greece, in canyons in Utah, or in forests in Bali, where unobtrusive service, a strong emphasis on wellness, and staggeringly expensive nightly rates (easily more than $1,500 a night) were guaranteed to make well-heeled travelers “feel like they are in a private home,” Doronin says. Visitors who have stayed at an Aman resort know this is true—provided the private homes they are accustomed to are filled with servants, chefs, and perfect minimalist furniture.

The urban pulse of a city doesn’t quite fit within that relaxed, decadent ethos, yet Doronin opened an Aman in the heart of Tokyo in 2014 and it was met with almost instantaneous success. “We’re 65 percent more expensive than the average” luxury hotel’s nightly cost, he says. “And we’re always fully booked.”

Encouraged, Doronin has begun to expand into other cities—an Aman is planned outside Shanghai, and Doronin says he’d like to see Amans in London, Paris, and other global cities in addition to New York.

Doronin is betting that the hotel’s amenities will set it apart from the competition. The Aman in New York will have a three-story spa (on its seventh, eighth, and ninth floors), an Aman member’s club, a jazz club, and a cigar bar, all available to residents. The hotel will also have a Japanese restaurant, an Italian restaurant, a piano bar, and a “Wine Library”—all available to the public, but “especially” for residents, Doronin says.

The Apartments

Building a resort in a city is very different than building one in the country. “Any hotel in the city is very expensive” Doronin says, citing the cost of labor, real estate, and construction. 

The apartment component of the hotel is therefore an effort to offset those expenses, which Doronin says can cost more than $3 million per room (which, if true, would put the price of the hotel conversion in the range of $300 million). “The residential component leverages and optimizes the price of the hotel,” he explains.

The building’s 20, Aman-branded apartments are priced at a premium, even by New York’s standards.

A 1,149-square-foot one-bedroom, one-bath apartment will cost a hefty $5.9 million. Another one-bedroom, which admittedly will also include a “home office/den/library” and two bathrooms is spread out over 2,109 square feet and will cost a staggering $10.6 million. A three-bedroom, two-bathroom apartment comprising 4,384 square feet will cost $26.6 million. A 6,287-square-foot four-bedroom, five-bathroom apartment near the top of the building (keep in mind that this is not the actual multi-story penthouse) will weigh in at a eyebrow-raising $58.3 million, which is $8 million more than a nearby 6,000-square-foot duplex penthouse atop the Plaza Hotel and actually facing Central Park. 

The price of the penthouse itself hasn’t yet been released, but given that the four-bedroom apartment costs more than $9,000 a square foot, it’s safe to assume that the five-story apartment, which will feature both indoor and outdoor pools, will cost in excess of $100 million.

Jean-Michel Gathy is designing the hotel’s layouts and can be contracted to do residents’ furnishings and interiors, and the hotel’s services—including that famously discreet staff—will also be available to residents. “You will be able to call for a coffee, and the cappuccino will be presented at your door, still hot,” Doronin says.

The building is expected to be complete in 2020, but OKO Group will pre-sell apartments.

The sales team will face a crowded field: The penthouse is competing at the very top of the market, amid intense competition for an increasingly thin crowd of super-high-net-worth individuals. 520 Park Avenue has a triplex penthouse listed for $130 million; 432 Park Avenue’s penthouse is listed for $82 million; downtown, the Woolworth Building’s penthouse is listed at $110 million.

The rest of the planned Aman apartments will face similarly stiff competition. Down the block at 57th street, a forest of luxury towers nearing completion will be competing for the same, finite clientele.

Doronin isn’t worried. “This is a unique product,” he says. “I don’t see any competition, because for the moment, we don’t have any similar buildings.” The historic structure, the sterling brand, and the location, he says, will be enough to sell it out. “You can live in this building and don’t need to leave it,” he says. “We’ll have everything.”

MANSION GLOBAL: 'DESIGNER WELLNESS' IS NEWEST STATUS SYMBOL FOR LUXURY BUYERS

Health gurus are getting involved in buildings from the ground up

Missoni Baia Miami Residences Gym overlooking Biscayne Bay

Missoni Baia Miami Residences Gym overlooking Biscayne Bay

To appeal to wealthy buyers who want healthy lifestyles, luxury real estate developers in New York, Los Angeles and Miami are meticulously curating holistic wellness amenities—getting starchitects, fitness gurus and branded spa chains involved.

In striking a balance between exercise and relaxation, Miami luxury developers have invested in spas and water features. At Missoni Baia, a waterfront luxury condo tower in the Edgewater neighborhood slated for completion in summer 2020, the residents-only spa, comprising of 2,825 square feet, will be one of the largest spas in Miami. It’s conceived by the designers of Aman Spas, with interiors by New York-based Paris Forino. 

Read more here: http://www.mansionglobal.com/articles/63504-designer-wellness-is-newest-status-symbol-for-luxury-buyers

OKO Group Announces Fortune Development Sales to Manage Sales & Marketing for Edgewater Portfolio

MIAMI, (MARCH 17, 2017): OKO Group, the Miami-based development company, has announced that Fortune Development Sales will be retained to lead the sales and marketing efforts for the company’s two debut residential development projects in the emerging neighborhood of Edgewater, Miami. Fortune will oversee Missoni Baia, a 57-story luxury condominium tower now in pre-sales, as well as OKO Group’s recently acquired prime waterfront site adjacent to Missoni Baia at 720 NE 27th Street.

“Edgewater is South Florida’s most exciting center of development activity, and the neighborhood continues to grow in value and reputation,” said Edgardo Defortuna, President and CEO of Fortune International Group. “Missoni Baia and its neighboring site at 720 NE 27th Street have unrivaled direct waterfront locations with unprecedented attention to design and detail applied to these projects which will elevate Edgewater to the world stage. We share OKO Group’s vision for the neighborhood and these developments, and are thrilled to be a part of Edgewater’s next chapter.”

Missoni Baia is the first-ever branded residences from Missoni, the iconic Milan-based luxury fashion and design house. The 649-foot-tall sculptural tower, located along 200 feet of unrivaled Biscayne Bay frontage will consist of 146 expansive residences, each with waterfront views, ranging from two to four bedrooms. Missoni Baia’s contemporary architecture is the vision of New York-based Asymptote Architecture, with interiors by celebrated designer Paris Forino under the creative direction of Angela and Rosita Missoni, and landscaping by Enzo Enea. Expansive amenities – including five swimming pools, elevated tennis courts, and a fitness center and spa overlooking Biscayne Bay – will offer the comforts of a luxurious resort in a private residential setting. 

ABOUT FORTUNE DEVELOPMENT SALES

Fortune Development Sales is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having represented more than eighty of South Florida’s most successful projects. Led by visionary founder Edgardo Defortuna, Fortune has 18 offices around the world with nearly 1,000 associates and a worldwide brokerage network reaching prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris. Fortune Development Sales is an affiliate of Fortune International Group, a recognized leader in development, sales and marketing since 1983. The company’s current development portfolio includes many of the most prominent residential in South Florida including Jade Signature, The Ritz-Carlton Sunny Isles, Auberge Beach Residences and Spa Fort Lauderdale and Hyde Resort & Residences Hollywood. www.fortuneintlgroup.com

Vladislav Doronin hosts Missoni Baia Miami Residences launch event at Star Island home

On November 28th, at an event to launch Missoni Baia, the 57-story luxury condominium tower branded by Italian fashion house Missoni, Vladislav Doronin hosted 200 guests at his Star Island Home. The event was dramatically interrupted by a torrential downpour lasting approximately 20 minutes when guests hurried to find shelter under pergolas and cabanas in the garden of the international businessman and real estate magnate. Speeches were made by Alicia Cervera of Cervera Real Estate, Vladislav Doronin, Chairman and CEO of OKO Group, Jonathan Goldstein, Chief Executive of Cain Hoy Enterprises and Ottavio Missoni Jr. from the Missoni family.  Following the speeches pianist, ELEW gave an entertaining performance in which he played his own versions of Nirvana “Smells Like Teen Spirit”, Coldplay “Fix You” and The Killers “Mr. Brightside” amongst others. Food and drink was provided by Casa Tua.

Ocean Drive: Edgewater's Real Estate & Cultural Offerings Make it the Perfect Place to Live in Miami

By Jon Warech

Geographically desirable, with some of the best views in Miami, Edgewater was destined for success. But with new luxury condos and burgeoning cultural offerings, the time is now for living on (and in) the edge.

Hugging Biscayne Bay from North 17th Street to the Julia Tuttle Causeway, Edgewater is on the rise thanks to luxury developments in the works, a growing cultural scene, and the high-profile people moving in. Ocean Drive takes a look at the buildings, people, places, and things making this one of the hottest areas in South Florida.

HIGH CULTURE
Just east of Wynwood and north of an arts district home to the Adrienne Arsht Center, Pérez Art Museum Miami, and soon, the Patricia and Phillip Frost Museum of Science, Edgewater is the waterfront neighbor to some of the best events in town.

CULINARY CAPITAL
Chef and up-and-coming neighborhood connoisseur Daniel Serfer partnered with Ryan Roman on Mignonette, the popular seafood and oyster bar, launching the dining scene in Edgewater.

SKY STYLE
Missoni Baia, the first-ever branded residences from iconic luxury fashion and design house Missoni, is a 649-foot-tall tower located directly on the water. Consisting of 146 expansive residences ranging from 2,500 to 3,700 square feet, the debut Miami project of OKO Group’s Vladislav Doronin features interiors that incorporate the Missoni Home furniture collection, along with amenities like five swimming pools, elevated tennis courts, and a fitness center and spa overlooking the bay.

HIGHER ED
Rumor has it that a high-end private international school has been scouting locations in Edgewater for a Miami-based outpost.

Read the full article here: https://oceandrive.com/why-edgewater-in-miami-is-the-hottest-neighborhood-to-live-in-right-now

SOUTH FLORIDA BUSINESS JOURNAL: 5 views on real estate from ULI condo conference

By Brian Bandell

Leaders of Miami’s condominium and development industries gathered on Wednesday for an Urban Land Institute conference where they addressed pressing issues, such as how long the real estate cycle will last and what impact President-elect Donald Trump will have on South Florida.

About 300 people gathered in the East Hotel at Brickell City Centre for the event sponsored by the nonprofit ULI. It came at a pivotal time for the market, as condo sales have slowed and the inventory of existing units for sale has surged. Many developers are wondering whether they should move ahead with projects or fall back and wait for a more positive environment.

Here are five major issues that the panelists addressed.

Where are we in the real estate cycle?

Related Group CEO Jorge Perez said the biggest difference between this cycle and the boom of the last decade is leverage. All of his condo projects have at least 50-percent deposits and those under construction are moving forward. However, there will be a slowdown because too many developers have launched projects at once and the U.S. dollar will remain strong compared to foreign currencies, he said.

“International demand will still come to Miami but there are a lot of projects to choose from,” Perez said. “Our company is shifting into the international market in Latin America and into rental product and into government-sponsored and affordable housing. We see us having less emphasis on the condo market and we still think the rental market is very strong the next few years.”

The market for overpriced condos and houses has slowed down, but otherwise the market is in pretty good shape, said Howard M. Lorber, president and CEO of Vector Group, and chairman of Douglas Elliman Realty. There was a big run-up in pricing in Miami and Miami Beach and it has retracted, but buyers aren’t taking losses.

“It’s like you buy a stock for $10 a share and it goes to $100 and then when it goes to $80, you say ‘I lost $20,’” Lorber said. “It’s a little psychological.”

There’s no doubt that the spread of the Zika virus in Miami hurt sales, but Lorber sees that as a temporary problem.

Out of over 300 buyers with deposits, only two have had issues closings so that shouldn’t be a concern in this market, said Ugo Colombo, head of CMC Group and developer of Brickell Flatiron. That’s because they already put down 50-percent deposits. While many buyers of recently completed condos have put them on the market, Colombo doesn’t expect them to sell those units at a loss. Unlike in the 2008 meltdown where condos were heavily financed, buyers have more equity in their units.

However, Colombo said the South American model of 50 percent deposits is not sustainable over the long term. He expects a return to the 1990s model with banks providing a larger portion of project financing with the expectation that the developer can sell out the building before it’s completed.

Real estate in Miami is undervalued compared to New York and London and the city is among the most desirable in the world to live, said Vladislav Doronin, CEO of OKO Group. The Russian-born billionaire has secured several condo development sites in Miami including Missoni Baia in Edgewater — one of the few condos to launch sales this year. He said sales have done very well.

“This year, there was uncertainty during the election campaign and clients put deals on hold,” Doronin said. "I am sure next year will be much better.”

Some of the properties OKO Group has acquired will be land-banked for a few years with the expectation of future growth, he added.

Getting projects off the ground will be difficult over the next 24 months, but condos with financing in place and a substantial amount of units sold will be fine because buyers won’t walk away from 50-percent deposits, said Inigo Ardid, co-president of Key International, which is co-developing 1010 Brickell and the Harbour in North Miami Beach.

The majority of condos under construction now are sold and the next cycle will begin quickly after they are delivered, said Neil Fairman, president of the Plaza Group, which is building Marina Palms in North Miami Beach and two projects in Broward County. He’s almost sold out at Marina Palms and looking for another development sites, and he’s particularly excited about downtown Miami and Coconut Grove.

Spencer Levy, head of research in the Americas for CBRE, said the general real estate cycle is forecast to last until late 2018 or early 2019. Of course, all asset classes have a different cycle, so a property type like apartments is likely to stay positive longer, he added.


Do brand names matter for condo sales?

Increasingly, Miami developers have attracted luxury brands for their buildings from the world of fashion, cars, hospitality and famous architects. Those brands, of course, come with a price that’s passed onto the buyer.

Ardid said Key International doesn’t favor the brand strategy as it would rather spend more money on the building itself.

“We don’t believe in spending big on a brand because it costs a lot and the name tends to fade over time,” Ardid said. “You don’t need the brand. I don’t want to pay 2 to 3 percent of sales to an outside company to just put their name on it, because a lot of the time, that is just all they are doing.”

Perez said brands are essential to selling condos and so are star architects and interior designers. The Related Group has multiple projects under development under the SLS brand and it’s about to announce another one in Cancun, Mexico. Buyers received great value for a brand when the designers are heavily involved in the projects, such as with management or selecting interior design features and artwork, Perez said.

“If everyone is building the same product and there is no differentiation then you will have a hard time selling it,” Lorber said. “Now differentiation could be architects. You have world-famous architects building residential projects in Miami and that has never happened before."

Will Trump be positive or negative for the local economy and real estate?

Perez said he knows Trump very well from when they marketed condo projects together in the past and he’s concerned that the choices Trump has made so far have not been good.

“He has surrounded himself with very right-wing small thinkers,” Perez said. “I think he will try to defeat Obamacare and will try to became an isolationist and will make trade more difficult, including with Cuba and with Latin America … Hopefully he will listen to clearer minds and will shift his positions and allow for greater trade.”

Perez said Trump’s election has caused people in Mexico and Argentina to be fearful of coming to the United States because of visa restrictions.

Doronin said most Russians are pleased with Trump’s election and he expects more of them to buy in Miami if the United States improves its relationship with Russia.

Moishe Mana, who has assembled large development sites in Wynwood and downtown Miami, said he’s fearful because he doesn’t know what Trump plans to do and the president-elect is unpredictable. He knows many wealthy people overseas who are afraid to come to the United States now because of border control.

“We are going through globalization whether we want to or not,” Mana said. “We are all part of a global economy and we should approach issues in a global manner."

Trump’s policies are pro-business and anti-regulation and that will benefit the economy, said Ziel Feldman, chairman of New York-based HFZ Capital Group, which is building the Fasano Residences at the Shore Club hotel in Miami Beach. Since the election he’s seen more interested from financial institutions and wealthy individuals in putting money back into the United States.

Feldman hopes that Trump loosens the capital regulations on banks under Dodd Frank so they have more freedom to lend. However, Perez said he’s worried that Trump will allow too much deregulation, which is what caused the last recession and hurt people in the lower and middle classes who took out bad loans.

“For the economy, last time we had a deregulatory world view, we had the crash of '08,” said Eliot Spitzer, the former New York governor and attorney general who now runs a family real estate business. “The banks kept saying they could manage risk and we saw how that worked out. They don’t know how to manage risk because they just want a bonus next quarter … This notion of getting rid of regulation structure is dangerous."

Ardid said he expects Trump will take more moderate positions than he did during his campaign.

“Overall he will be good for economy,” Ardid said. "I like the low taxes and the heavy spending on infrastructure. On his trade policies he’s been very different on those in the past and I think he will be more moderate on it."

Levy, who formerly did legal work for Trump, expects the president elect to reduce federal regulation and expand credit for home loans, which would be a positive economic driver. He expects the real estate industry will be fine under Trump.

What does Miami need to become more attractive for buyers?

Most real estate executives cited improved education as the a crucial factor in attracting new condo buyers to Miami. School quality is the first thing on the minds of many families with young children when they consider moving here, Lorber said.

Doronin said Miami needs more direct flights to Asia because then he could sell to buyers in China, as he believes they are interested in Miami.

Silvia Coltrane, CEO of development and brokerage firm Transacta Developers, said addressing sea level rise is a big concern where she is building in North Beach and Surfside. In a hotel she has proposed at Collins Avenue and 72nd Street, she designed it with extra high ceilings in the ground-floor retail space in anticipation of sea level rise.

“In case water rises we can raise the floor of the retail so it remains at street level,” Coltrane said. “We don’t want sunken retail like in Sunset Harbor.”

How the region deals with sea level rise is important to projecting the Miami brand, especially as there’s more press about the issue, said David Martin, president of Terra Group, which is developing Eighty Seven Park in Miami Beach.

What economic trends will drive future growth?

Mana said neighborhoods have become more important and people will seek to stay close to where they live and work. As he develops Mana Wynwood, he’s attracted and invested in technology startups to seed the neighborhood with innovators. That will lead to his plans or shared office space and micro units.

Levy said automation is the biggest economic issue in the world today and the main reason that global trade has slowed down. Jobs in transportation, production, repair and construction are most at risk to automation. Countries that depend on manufacturing less complex goods and producing commodities will struggle, Levy said.

“We must advance to providing services and more complex goods because the value of less complex goods and commodities is dropping,” Levy said.

Read the Full Article: http://www.bizjournals.com/southflorida/news/2016/11/30/5-views-on-real-estate-from-uli-condo-conference.html

THE REAL DEAL SOUTH FLORIDA: Vlad Doronin adds to Edgewater assemblage with $54M purchase

Property is north of OKO Group's planned Missoni Baia condo tower

By Ina Cordle

The Edgewater property and Vladislav Doronin

The Edgewater property and Vladislav Doronin

Vladislav Doronin’s OKO Group just paid $54 million to buy a 2-acre parcel fronting Biscayne Bay, adding to the Russian billionaire developer’s assemblage in Miami’s Edgewater neighborhood.

The property, at 720 Northeast 27th Street, is north of OKO Group’s Missoni Baia, a 57-story, 146-unit luxury condominium planned for 777 Northeast 26th Terrace.

London and New York-based private investment firm Cain Hoy partnered with OKO on the purchase. An OKO spokesperson told The Real Deal that Cain Hoy is also a partner on Missoni Baia and all OKO’s other developments in Miami. 

OKO Group and its partner bought the Edgewater property from Jesuit Fathers of the Province of the Antilles, a Jesuit group that had used the site for educational purposes and a retreat, the OKO Group spokesman said.

The property, on a corner lot surrounded by water on two sides, has a total of 475 feet of water frontage, “providing a prime development opportunity,” according to a release. OKO declined to provide more information on its development plans.

Brokers from various firms were involved in the deal, including HFF, Fairchild Partners, Global Investments Realty, and Shelton & Stewart Realtors, according to attorney Steven Carlyle Cronig, a partner in the Coral Gables office of Hinshaw & Culbertson, who represented OKO Group.

Cronig said negotiations lasted more than two years. Security Benefit Life Insurance Company provided the financing. Steven Bassin of Greenberg Traurig advised OKO on organizational and tax matters. The deal closed on Monday and has not yet been recorded.

OKO Group’s 649-foot Missoni Baia will be the Italian fashion brand’s first residential project. The condo tower is designed by Asymptote Architecture and Revuelta Architecture, with landscaping by Swiss architect Enzo Enea and interiors by Paris Forino Design. Units range from two to four bedrooms and will each have private terraces overlooking Biscayne Bay and two parking spaces. Miami’s Urban Development Review Board approved zoning waivers for the project in September.

OKO is also planning to build a 48-story residential tower at 175 Southeast 25th Road to be designed by Adrian Smith + Gordon Gill Architecture, and a retail and residential tower at 830 Brickell Avenue. Doronin, chairman and CEO of OKO Group, is also the chairman of Aman, a luxury hotel brand.

Read the full article here: http://therealdeal.com/miami/2016/11/23/vlad-doronin-adds-to-edgewater-assemblage-with-54m-purchase/

PRESS RELEASE: OKO GROUP PURCHASES PRIME WATERFRONT PROPERTY IN MIAMI’S EDGEWATER NEIGHBORHOOD

Transaction marks second major acquisition in the neighborhood for developer Vladislav Doronin’s OKO Group, following Missoni Baia

MIAMI, Florida | November 23, 2016 – OKO Group, the Miami-based development company founded by international real estate developer Vladislav Doronin, along with its partner, London- and New York-based private investment firm Cain Hoy, announced today that the partnership has closed on the purchase of 720 N.E. 27th Street in Edgewater. The two-acre property boasts 475 feet of frontage along Biscayne Bay on a rare corner lot surrounded by water on two sides, providing a prime development opportunity for the two firms in one of South Florida’s most exciting up-and-coming neighborhoods. The property was purchased for $54 million from the Jesuit Fathers of the Province of the Antilles, Inc.

The site is well situated to take advantage of increasing development activity and demand in the waterfront residential enclave of Edgewater, which is located between the financial hub of Downtown Miami and the culture-rich Design District and Wynwood neighborhoods. Edgewater’s appeal has been bolstered by luxury residential developments in the immediate neighborhood, including Doronin’s OKO Group, which is currently developing the 649-foot-tall Missoni Baia waterfront luxury condominium tower at 777 N.E. 26th Terrace. The Missoni Baia development stands directly across from the 720 N.E. 27th Street parcel.

Missoni Baia, the first ever residential collaboration from the storied Italian fashion brand Missoni, is an unprecedented development for Edgewater, bringing together a world-class design team that includes renowned architect Hani Rashid of Asymptote Architecture, interior designer Paris Forino and members of the Missoni family. The sculptural tower’s 146 expansive residences are complemented by an impressive array of lifestyle amenities and services curated by Missoni.

Plans for the 720 N.E. 27th Street property will be announced at a later date. Other projects in OKO Group’s Miami development pipeline include a 48-story residential tower at 175 S.E. 25th Road to be designed by Adrian Smith + Gordon Gill Architecture, and a retail and residential tower at 830 Brickell Avenue. Doronin, Chairman and CEO of OKO Group, is one of the most prolific luxury real estate developers throughout the world, and he is also the Chairman of Aman, one of the world’s leading luxury hotel brands.

***

About OKO Group
OKO Group is an international real estate development firm established by Chairman and CEO, Vladislav Doronin. OKO Group builds on the formidable expertise of Mr. Doronin, one of the most successful and respected developers in Europe, and his peerless track record in constructing more than 75 million square feet of world-class commercial, retail and luxury residential space over a total of 71 buildings as Founder of Capital Group.

OKO Group brings not only considerable financial strength to the U.S. market, but also a passion for working with the very best architects and designers in the world, including Pritzker Prize–winning architect Zaha Hadid, the preeminent American architecture firms Skidmore, Owings & Merrill, Asymptote Architecture and Adrian Smith + Gordon Gill Architecture, Italy-based Iosa Ghini Associati and the acclaimed French designer Jacques Grange. OKO Group’s current U.S. portfolio includes prime properties and development projects in Miami and New York City. As owner and Chairman of Aman, one of the most admired hospitality brands in the world, Mr. Doronin’s global business portfolio spans across Europe, Asia and the U.S. More information about OKO Group is available at okogroup.com

About Cain Hoy Enterprises
Cain Hoy Enterprises is a private investment company financed with permanent capital that owns a diversified portfolio of real estate investments. Headquartered in London and New York, it is run by its Chief Executive Jonathan Goldstein. Cain Hoy won Financier of the Year at the Property Week Property Awards 2016. Further information is available at cainhoyenterprises.com

Press Contacts
M18 Public Relations:
Joey Arak / joey@m18pr.com / 212-604-0318
Katherine McPherson / mailto:katherine@m18pr.com/ 212-604-0318

The Next Miami: Russian Developer Hires Architect Of World’s Tallest Tower For Brickell Condo

By TNM Staff on October 13, 2016

Vladislav Doronin’s OKO Group has announced that Adrian Smith + Gordon Gill Architecture will design an upcoming Brickell condo project at 175 SE 25th Road. The new tower will top off at 47 stories, or 613 feet above ground. It is the second tower in OKO’s $1bn pipeline of projects in Miami, which also includes developments in Edgewater and across from Brickell City Centre. AS+GG is also designing the under-construction Jeddah Tower in Saudi Arabia, set to become the world’s tallest at 3,307 feet.

OKO Group Announces Adrian Smith + Gordon Gill Architecture for South Brickell Residential Tower Development is the First Building in Miami for Adrian Smith + Gordon Gill Architecture Second Project for Vladislav Doronin’s Miami-based OKO Group MIAMI, Florida | October 13, 2016: OKO Group has appointed Adrian Smith + Gordon Gill Architecture (AS+GG) as the Design Architects of a new ultra-luxury condo tower in Miami’s Brickell neighborhood. AS+GG is known for their high-performance architecture in a wide range of typologies and scales, from low- and mid-rise residential, commercial, and cultural buildings to mixed-use high-rise buildings. Current AS+GG projects under construction include the world’s next tallest building Jeddah Tower in Saudi Arabia and Wuhan Greenland Center, a highly sustainable supertall tower in China, and the Astana Expo City in Astana, Kazakhstan. AS+GG Design Partner Adrian Smith also designed Burj Khalifa in Dubai, the world’s current tallest building, while he was Design Partner at SOM Chicago, prior to the founding of AS+GG.

“Over the last two and a half decades I have built some of the tallest skyscrapers in Europe; a great synergy exists between Adrian Smith + Gordon Gill architects and OKO Group.” said Vladislav Doronin, Chairman and CEO of OKO Group. “This project, OKO Group’s second in our $1bn pipeline of projects in Miami, further demonstrates our commitment to the City and the people of South Florida. I am personally looking forward to working closely with AS+GG as we transform the South Brickell skyline.”

The project, a 47-story luxury residential tower, will be located on one of the finest streets in Miami, at 175 SE 25th Road, often referred to as ‘the Fifth Avenue of Miami’. The site is directly on Biscayne Bay and will replace an existing building. The design will take full advantage of this rare waterfront site and will leverage the features that bring people to Miami, namely expansive views, access to sun, and an indoor-outdoor lifestyle. AS+GG will infuse the project with their performance-based design approach, which considers the climate and environmental context.

“We are thrilled to be appointed for this project for OKO Group and to be designing AS+GG’s first Miami project,” said Adrian Smith. “We are impressed with OKO Group’s commitment to thoughtful design and quality construction and we look forward to creating a world-class building for them.”

This marks the second residential development for OKO Group in Miami. They are currently developing Missoni Baia in the Edgewater neighborhood, which will be the first residential building from the famed Italian fashion house. The 146-residence luxury building recently launched sales and is slated for completion in 2019.

Read the full article here: http://www.thenextmiami.com/russian-developer-hires-architect-worlds-tallest-tower-brickell-condo/

South Florida Business Journal: Billionaire developer taps architect of world's tallest building to design Brickell condo tower

Oct 13, 2016, 10:01am EDT

OKO Group, led by billionaire Russian-born developer Vladislav Doronin hired Adrian Smith + Gordon Gill Architecture to design its condo tower planned in Miami’s booming Brickell neighborhood.

Vladislav Doronin, OKO Group

Vladislav Doronin, OKO Group

The developer hasn’t revealed the details of the proposed tower other than to say it would be 47-story tall, so it’s up to AS+GG to create the building. This will be the firm’s first project in Miami.

Other projects by the Chicago-based firm and its principals include Burj Khalifa in Dubia (the world’s tallest building), Jeddah Tower in Saudi Arabia (the world’s second-tallest building), and Wuhan Greenald Center in China.

“We are thrilled to be appointed for this project for OKO Group and to be designing AS+GG’s first Miami project,” said Adrian Smith. “We are impressed with OKO Group’s commitment to thoughtful design and quality construction and we look forward to creating a world-class building for them.”

In 2015, OKO Group paid $48 million for a 44-year-old condo building at 175 S.E. 25th Street, which is on Biscayne Bay just north of the Rickenbacker Causeway. After terminating the condo association, it plans to tear down the building and construct a luxury tower. Security Benefit Corp. provided a $34 million loan to the developer in February.

“Over the last two and a half decades I have built some of the tallest skyscrapers in Europe; a great synergy exists between Adrian Smith + Gordon Gill architects and OKO Group.” said Vladislav Doronin, Chairman and CEO of OKO Group. “This project, OKO Group’s second in our $1 billion pipeline of projects in Miami, further demonstrates our commitment to the City and the people of South Florida. I am personally looking forward to working closely with AS+GG as we transform the South Brickell skyline.”

OKO Group also plans to build the Missoni Baia condo in Edgewater. It is one of the few developers to launch condo sales this year, which has seen fewer sales for many new and existing condos in Miami.

Read the full article here: 
http://www.bizjournals.com/southflorida/news/2016/10/13/billionaire-developer-taps-architect-of-worlds.html


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