Madison Realty Capital provided a $137 Million construction loan to JDS Development Group for Monad Terrace, a 59-unit luxury condo project in Miami. Douglas Heitner, Erik Nygaard and Albert Delgado of Kasowitz Benson Torres worked on behalf of JDS, while Jerold Feuerstein of Kriss & Feuerstein represented Madison Realty Capital. A JLL team led by Aaron Appel placed the financing, which will fully capitalize the 14-story project.
THE REAL DEAL
Michael Stern's JDS Development scored a $137 million construction loan for a South Beach condo project known as Monad Terrace, in what appears to be the largest financing deal in Miami's market in nearly a year.
April 24, 2018
New York City-based developer JDS Development Group has closed on a $137-millon construction loan for its Monad Terrace luxury waterfront project currently under construction here in Miami Beach. The financing, which fully capitalizes the 59'-unit project, was provided by New York City-based Madison Realty Capital. Construction is underway, with the foundation nearly complete. The tower is expected to go vertical in the spring of this year and be complete in the fall of 2019. The project was designed in collaboration with Miami-based Kobi Karp Architecture and Interior Design, Inc.
April 25, 2018
Jean Nouvel, the Pritzker Prize-winning architect, considered Miami’s climate and took steps to reduce the carbon footprint of the building when he designed Monad Terrace, his first project in Miami’s South Beach. The project features 59 luxury condominium residences, including a glamorous $7.1 million penthouse. Monad Terrace, which is developed by JDS Development Group, is designed to sit entirely above the flood plain and features a honeycomb screen integrated into the façade’s glass to reflect sunlight away from the building. The vertical gardens attached to the private terraces and patios help provide a natural climate, clean air and shade. Construction of Monad Terrace is well underway and scheduled to be completed by late 2019.
MIAMI LUXURY HOMES
JDS Development Group has secured $62.5 million dollars in construction financing for their luxury condominium project Monad Terrace in Miami Beach. The construction of the project, which is designed by Pritzker Prize-winning architect Jean Nouvel in collaboration with Miami-based architect Kobi Karp, is well underway. The foundation soil mixing is nearing completion and the building will begin to go vertical in early 2018. According to Curbed, “Monad Terrace is unquestionably among the most innovative projects in Miami’s condo pipeline.” Monad Terrace is designed with climate change in mind and is the first new construction project in Miami Beach built at 14 feet above sea level, which exceeds Miami Beach’s new requirements, in order to make the project more resilient.
Construction is underway for Atelier Jean Nouvel-designed Monad Terrace. The luxury condominium project located in South Beach, Miami, is developed by JDS Development Group. “Monad terrace innovates while integrating seamlessly into the context of Miami Beach,“ explains Michael Stern, founder and managing partner of JDS. This project brings the ingenuity and thoughtful design that is entirely appropriate to this environment, and thereby serves as an example for how we should be building and developing coastal cities - without compromising aesthetics. “Monad Terrace is an important project for Miami Beach, and I am proud that JDS is leading the way.” Monad Terrace features 59 luxury residences, each with generous indoor and outdoor living space, and ranging from two to five bedrooms. It also comes with a full suite of amenities, including a sun deck with a 116-foot swimming pool and hot tub overlooking Biscayne Bay, a wellness center, valet parking, a café and juice bar, bicycle and water sports storage room, and an in-house concierge. The penthouses feature private pools on spacious decks. The project is scheduled to be completed by the third quarter of 2019.
Ateliers Jean Nouvel is the designer of the new luxury condominium project Monad Terrace in Miami’s South Beach. The project features 59 luxury residences starting at $1.7 million and is developed by JDS Development Group. Monad Terrace’s unique sawtooth façade in combination with its lush water garden is dubbed the “reflection machine” by Nouvel himself. The French star architect is heating up Miami Beach’s cityscape with this unique new residential building.
"JDS, one of New York's best luxury residential developers, partners with Atelliers Jean Nouvel to build Monad Terrace. The architect was the winner of the 2008 Pritzker Prize. The project is one of the newest in Miami."
"Simon Koster and Michael Stern of JDS Development Group invited architect Jean Nouvel to create a visionary residential building — Monad Terrace — on the lagoon in Miami Beach. “With him, no two buildings are ever the same; Jean inspects the canvas before applying anything to it. We believe that such a collaborative process is key to sustainable design around the world,” says Koster."
"In what Nouvel calls "the reflection machine," high-tech honeycomb screens precisely calibrate views and seclusion, reflecting pools bounce dappled light deep into living spaces and the signature water garden draws the sparkling bay into the heart of the property."
“Landscape is an architectural material. It is part of the architecture,” Nouvel says, shrugging, as if this was patently obvious. At 71, he’s immediately recognizable: with brooding eyebrows beneath a shining dome, he wears his pride as boldly as he does his jet-black, film noir overcoat."
"The sales gallery for JDS Development’s new luxury Miami residence, Monad Terrace, is now open at the corner of Alton Road and 14th Street, allowing visitors to catch a glimpse of what its sleek and sophisticated interiors will look like."
March 15, 2017
SOUTH FLORIDA LUXURY GUIDE
"Bayfront monad Terrace marks Pritzker Prize-winning architect Jean Nouvel's debut in South Florida."
"There are even more star-quality projects about to break ground. Terra Group has hired its third celebrated architect, Pritzker winner Renzo Piano, for a beachfront condo in North Beach. Work is about to start on New York-based JDS Development Group’s Monad Terrace, by the Frenchman Nouvel, along West Avenue."
March 6, 2017
THE REAL DEAL
"New York developer Michael Stern is making his first entry into Miami Beach. Stern’s JDS Development is officially launching sales for Monad Terrace, a 59-unit luxury condo building designed by Pritzker Prize winning architect Jean Nouvel. It’s slated to be delivered in two years, Stern told The Real Deal."
February 9, 2017
Mention in Editor’s Letter & featured in “Pritzker Appeal"
February 9, 2016
"Miami's Monad Terrace from architect Jean Nouvel marries water, light and spare geometry to create a home bathed in tranquility.”
February 8, 2017
"Located off Monad Terrace and West Avenue in Miami Beach, directly south of the Waverly (14th Street), the luxury waterfront development is unique in that it was designed with Climate Change and rising sea levels at the forefront, as we learned in the announcement last February."
January 13, 2017
Michael Reynolds (Wallpaper*’s US Editor and Contributing Editor to Arch. Digest, Conde Nast Traveler and T Magazine) included Monad in his “Diary of Design Miami / Art Basel / Miami Beach” slideshow.
"Jean Nouvel needs little introduction. The 71-year-old Pritzker Prize laureate, whose work ranges fromthe Institut du Monde Arabe in Paris toBarcelona’s Torre Agbartower, is widely regarded as one of the great living architects. Though he has built projects around the world,the architect recentlybroke ground on his first in Miami Beach, a cityexperiencing significant economic and cultural growth."
"The USA is getting its über Pritzker on. Foreign-born Pritzker Prize-winning starchitects are waving their magic wands over American condominiums, hotels, and mixed-use complexes—creating sleek towers and contemporary living spaces that are redefining urban luxury living for millionaires and billionaires (especially in New York and Miami)."
December 31, 2016
"French architect Jean Nouvel's first residential project in Florida is raised over 11 feet above sea level to address the growing risk of flooding in Miami Beach."
December 6, 2016
"Jean Nouvel is often described as an architect without a signature style. His buildings can be decidedly eccentric, whether robustly theatrical or impressionistic and lyrical. Surveying the many notable projects the Pritzker Prize winner has completed over his nearly five-decade career—a dizzying array of cultural buildings, office towers, residential high-rises, hotels and wineries—it is almost hard to believe they were all designed by the same hand."
"At Design Miami/ 2016, French architect Jean Nouvel has revealed more information about his first project in Miami — Monad Terrace. Located on the west side of Miami Beach, overlooking Biscayne Bay and downtown, the scheme sees 59 individually designed waterfront residences positioned around a man-made lagoon. Dubbed ‘the reflection machine’, the project provides brilliant light, while private outdoor space is sheltered by climbing gardens."
November 30, 2016
"Monad Terrace is arrayed across two long but relatively low-slung glass volumes. At the center of the site, Nouvel has included a naturally filtered lagoon with lush, native plantings."
May 25, 2016
"The enlightened architect can offer new visions and allegories, even if they are only small parts of an evolving narrative — what might be deemed “urban poetics.” But sometimes, the urban geographer is obliged to dig deeper and reveal the prevailing threads of invention, no matter how arbitrary they may seem on first impression."
May 13, 2016
"Curbed got an exclusive first peek at the 95-page condo filing for the project, which is being developed by JDS and designed by the French starchitect Nouvel and Kobi Karp Architecture and Interior Design in Miami. The photos show a glassy building surrounded by water with a sheet of leaves down one side."
February 1, 2016