Photo Credit: One River Point
In Market

Miami’s Rafael Viñoly-Designed One River Point Development Gets Full Approval; Nearly $2 Billion Spent on Metaverse Land in the Last 12 Months

By: Ameena Walker

Nearly $2 Billion Spent on Metaverse Land in the Last 12 Months

Researchers at metaverse analyst firm DappRadar say that an astounding $1.93 billion of cryptocurrency was used to purchase virtual land in the past year as people and companies vie to secure their spot in the land of virtual reality, reports the BBC

The 3D virtual platform Decentraland, launched in 2020, is one of the most popular virtual worlds for purchasing land, with companies like Sotheby’s, Samsung, and UPS all spending big bucks to buy in. Voxels, a metaverse platform operating on the Ethereum blockchain, saw about $22 million in sales for around 3,000 parcels of land in its virtual world. 

“There will be for sure a mass market in this because if you think about the younger generation, they already play games,” said Amber Jae Slooten, lead designer and cofounder of The Fabricant, a digital-only fashion house that only makes clothing for avatars in various metaverses. “For them there’s no distinction between virtual and real. But it still needs to be built.”

Miami’s Rafael Viñoly-Designed One River Point Development Gets Full Approval

Plans have been fully approved for One River Point, a Rafael Viñoly-designed mixed-use development comprising two 65-story-tall residential towers along the Miami River waterfront. Developers Shahab Karmely of KAR Properties and Edgardo Defortuna of Fortune International Group announced a new partnership to develop the 1.8-acre site, which will also welcome a hotel, commercial offices, retail space, and a multistory parking garage.

The buildings will house 350 residences—most with their own private terraces—and a collection of bespoke penthouses, sky lofts, and sky villages spanning between 5,000 and 12,000 square feet of space and encompassing private pools. Interior designs are slated to include ceilings at least 10 feet high, honed stone flooring, private elevator landings in select residences, floor-to-ceiling windows, and smart home technology. 

One River Point will offer residents a hefty amenities package that includes an open-air pool deck with cabanas, a spa, fitness center, residents’ lounge, children’s playroom, and three-story Sky Club with panoramic views of the city, as well as an exercise studio, hotel suites, restaurants, and retail. 

Residences are expected to hit the market sometime in 2023, though pricing details have not yet been disclosed.

220 Central Park South Penthouse Sells for $72 Million

A full-floor penthouse at Robert A.M. Stern’s uber-expensive 220 Central Park South skyscraper along Manhattan’s Billionaires’ Row has sold for a hefty $72 million, reports the Wall Street Journal. The pricey abode spans 5,000 square feet with three bedrooms and was sold to an unknown buyer, who also purchased a smaller residence in the building for $3 million.

220 Central Park South remains the site of the priciest home ever sold in the US, where hedge funder Ken Griffin purchased a $238 million penthouse in 2019. Back in January, billionaire Daniel Och sold his four-bedroom penthouse at 220 Central Park South for $190 million, more than double what he purchased it for in 2019.

Developer Jeff Greene Plans Two Waterfront Condo Towers in West Palm Beach

Billionaire investor and developer Jeff Greene is planning to erect a pair of 30-story condominium buildings in West Palm Beach along the Currie Park waterfront. According to The Real Deal, Greene’s proposal would utilize land that he already owns and would feature 182 three- to six-bedroom apartments averaging 3,700 square feet with floor-to-ceiling windows and oversized balconies.

Greene is also developing One West Palm in Downtown West Palm Beach, with 188 apartments spread across the two towers, a 200-key hotel, and 200,000 square feet of office space.

First Look Inside Madison House Home with Striking Views of the Empire State Building

At the Handel Architects-designed Madison House, located in Manhattan’s NoMad neighborhood, Residence 55C has come to market, asking $5.8 million, with interior designs by Gachot Studios, DDC, and Minotti furniture throughout. The 1,788-square-foot home offers two bedrooms and two-and-a-half bathrooms, but the real highlight is the uninterrupted views of the Empire State Building and One World Trade Center to the south and west.

Additional perks include a private entry foyer, five-inch white oak flooring, and an open kitchen with custom walnut cabinetry. A spa with a 75-foot lap pool, a sports lounge with a golf simulator, and a 2,800-square-foot roof garden are among the building’s amenities.