Limestone Asset Management Expands to Add Residential Development Division
The Miami-based company focuses on investing and acquiring real estate properties in North America
Limestone Asset Management has added a residential development division to expand its real estate portfolio. The first residential properties under the firm’s new division are in Morningside, a historic and gated residential community in Miami. Limestone will partner with Brandon Brugal and Uccio Zecchini of Miami’s BZG International Real Estate, which specializes in investment sales and property management on these two projects at 531 and 510 NE 52nd Street.
“Working together with Limestone on the homes at 531 NE 52nd Street and 510 NE 52nd Street in Morningside, we are offering stunning homes ideal for the luxury buyer who desires modern elegance,” Brugal says.
The first property at 531 NE 52nd St. is a 4,480-square-foot home with five bedrooms, five bathrooms, a den, an outdoor pool and a one-car garage. The property is situated on an 8,363-square-foot lot, and it is currently under constriction with an expected completion date in the fourth quarter of 2022.
Designed by the Miami architecture firm Preschel + Bassan Studio, the residence will be a two-story contemporary home that features top-of-the-line fixtures and finishes. The home’s open floor plan and double-height ceilings will provide abundant natural light. At the same time, the oversized kitchen will offer a surplus of cabinet and storage space, gas appliances and a built-in dining bench for eight. In addition, the expansive principal bedroom suite will boast a terrace overlooking the pool and backyard.
The second home at 510 NE 52nd Street features 3,500-square-foot of living space offering four bedrooms, four full bathrooms and one half-bathroom, an outdoor pool and a one-car garage. It sits on a 5,500-square-foot lot and is designed by award-winning Miami architecture and interior design firm Taylor & Taylor Inc. Construction on the residence is slated to begin by mid-March 2022 and is scheduled to be completed in the second quarter of 2023.
The two-story ultra-modern home will feature an open flow-through floor plan with 10-foot ceilings on the first floor and up to 14-foot ceilings on the second floor with tongue and groove finishes. Outside, the home will be surrounded by lush, natural landscaping.
Miami’s Morningside community is between The Design District, El Portal/Miami Shores and just a short trip to Miami Beach. The neighborhood’s Upper East Side has undergone a drastic change in recent years and is home to some of Miami’s best restaurants and bars.
“Morningside is a unique community that has garnered tremendous interest over the last few years,” says Ibrahim Al-Rashid, chairman of Limestone Asset Management. “Anyone passing through would realize quickly that Morningside rivals some of the most popular addresses in Miami-Dade County. We are pleased to work with Brandon Brugal in the sales of our first spec homes in the community.”
Limestone Asset Management is an affiliate of Orion Real Estate Group. Limestone Asset Management uses Orion Real Estate Group’s expertise to complete its North America-based transactions.