The office, with retail component including a rooftop venue, will bring sophisticated work/play experiences to Coral Gables’ Merrick Park district; groundbreaking is scheduled for Q4 2023 with completion in 2025 

Constellation Group, a Miami-based commercial real estate investment and development firm, is excited to announce it has secured a $33M construction loan from Miami-based Banesco USA and Abanca, for its upcoming office and retail development located at 4225 Ponce de Leon Boulevard in South Florida’s renowned City Beautiful. This Class A+ boutique office and retail development is poised to elevate the heart of Coral Gables' Merrick Park district, the premier shopping and entertainment destination in South Florida. Colliers, a renowned real estate services firm committed to delivering exceptional experiences, will be handling leasing for both the office and retail spaces.

"We are very excited about the latest milestone in creating 4225 Ponce. We are also proud of our partnership with Abanca and Banesco USA which has entrusted us to develop a Class A+ destination that embodies the true essence of Coral Gables' elegance and sophistication," said Eduardo Otaola, Managing Principal at Constellation Group. "This development will provide a well-located boutique-style Class A office building to Coral Gables in a complicated yet supply-constrained environment.”

The eight-story property, which is strategically located in Coral Gables’ premier shopping district, will be between 4225 and 4311 Ponce de Leon and will span approximately 85,000 square feet. Renowned for its innovative designs, the internationally renowned architectural firm, Arquitectonica, has designed the luxury boutique-style Class A Office to include 5,500 square feet of ground floor retail space, parking, premier office space, and a 6,500 square foot rooftop food and beverage venue offering stunning panoramic views of the city.

“Given the area’s sustained economic vitality, Banesco USA remains bullish on South Florida and is excited to grow our portfolio with Constellation Group by providing the financing for 4225 Ponce,” said Amelia Rodriguez, Senior Vice President of Banesco USA. “Coral Gables is in the midst of a residential and commercial building boom that continues to attract more residents and businesses. 4225 Ponce will add new product to the market, merging innovative Class A+ office spaces with dynamic ground-floor retail offerings, poised to further enhance the City Beautiful’s standing as a premier business and cultural destination. Banesco USA is proud to play a role in making this vision a reality and look forward to financing more innovative projects like this one in the future.”

"We are delighted to collaborate with Constellation Group and Banesco USA on this transformative endeavor to reinvigorate The City Beautiful,” said Monica Vasquez, General Manager at Abanca. “This partnership reflects ABANCA's commitment to supporting visionary projects that not only redefine the urban landscape but also contribute to the cultural and economic vitality of the community, and we look forward to witnessing the positive impact it will have on Coral Gables' dynamic and vibrant atmosphere."

The project represents a significant revitalization initiative that is taking place around Coral Gables’ Merrick Park district, with a development plan that aims to elevate the business and consumer fabric of Coral Gables. The estimated groundbreaking date is set for Q4 2023 and is expected to be completed in 2025. The Boschetti Group served in an advisory role on this agreement.

Interior Architects, Inc. is responsible for creating functional and aesthetically pleasing spaces within the building. Naturalificial, a leading landscape architecture firm, will design outdoor spaces to blend nature and modernity harmoniously.

Notable features include four stories of premier class A+ office space, a rooftop restaurant offering panoramic views of the city, outdoor terraces on each floor, ground-floor retail spaces, and a 1,500 square foot lounge. A covered pedestrian plaza and paseo on the ground floor will also offer valet parking service, enhancing the overall experience for tenants and visitors alike.

For more information on this exciting development, visit groupconstellation.com or call (305) 377-8333.

An exclusive collection of 14 oceanfront single-family homes redefines laid-back luxury

in Florida’s most sought-after destination

Constellation Group, a Miami-based commercial real estate investment and development firm,  and Ironwood Venture Group, a real estate development firm, have started construction on SeaGlass Cove, a new, luxurious island enclave consisting of just 14 single-family homes in Marathon, Fla., in the heart of the Florida Keys. Banesco USA provided the $17 million construction loan to build SeaGlass Cove Residences.

Located at 59720 Overseas Highway in Grassy Key, the commencement of construction comes on the heels of SeaGlass Cove’s recent sales launch from the last quarter of 2022. With over 40 percent of the residences – which start at $3 million – under contract or reserved, the oceanfront development is enjoying extraordinary sales success.

“SeaGlass Cove introduces a new dimension in waterfront living in one of Florida’s most sought-after destinations,” said Eduardo Otaola, Principal at Constellation Group. “The initial success of the sales process is a true testament to the demand buyers have for the Florida Keys and our well-conceived private enclave focused on barefoot luxury.”

“We are truly proud to be growing our portfolio of properties with Constellation Group, who we have been working with for seven years,” said Amelia Rodriguez, Senior Vice President, Banesco USA. “We are also very excited to be part of the development of SeaGlass Cove and bringing these exclusive residences to life in the middle of paradise.”

“Our design intent since the inception of the project has been to offer buyers new luxury construction residences in the Florida Keys,” said Everett Atwell, Director of Ironwood Venture Group. “Taking into account the strict standards and stringent building codes these homes have to adhere to, SeaGlass Cove presents an especially rare and unique opportunity.”

Nestled amongst colorful coves and turquoise waters in a private gated community, SeaGlass Cove features three-story homes comprised of 4,800+ square feet of living and entertainment space that offer stunning views of the Atlantic Ocean.  Residences will feature a two-car garage, chef’s kitchen, and spa baths that will be luxuriously appointed with MiaCucina finishes and Wolf/Subzero appliances (or Stone International finishes and KitchenAid appliances). Additional highlights include a private covered cabana and an optional summer kitchen replete with beach access.  

The oceanfront enclave features a myriad of resort-style amenities, including a pool overlooking the ocean, an on-site pickleball court, and activities that include paddleboarding, swimming, fishing, snorkeling, biking, and much more. SeaGlass Cove is minutes from fine dining, shopping, spas, marinas, and much more.  The project is slated for full completion in 2024.

Sea Glass Cove is 20 minutes South of Islamorada, is in close proximity to the Florida Keys/Marathon International Airport, and offers convenient access to Overseas Highway, which spans the entire chain of the Keys, and over the Atlantic Ocean, Florida Bay, and the Gulf of Mexico.

The Sea Glass Cove Sales Gallery is located at 27217 Overseas Highway in Ramrod Key, and is open Monday through Friday from 9 a.m. to 5 p.m., Saturday from 10 a.m. to 4 p.m., and Sundays by appointment.  Appointments can be booked by calling 305.872.5000. For additional information, call or visit SeaGlassCoveFL.com or Facebook or Instagram.