Times right after launching its initial Fort Lauderdale condominium undertaking, Residence Marketplaces Group reported it will kick off profits for a 34-story planned residential tower in Miami’s Brickell subsequent month.
The 240 units prepared for the setting up, to be identified as Just one Twenty Brickell, at 120 Southwest 8th Road, will arrive totally furnished, according to a push launch. Just about every apartment will arrive with a furnished business office suite as properly, the release shows.
Floor plans selection from studios to three-bedrooms, and 450 sq. feet to 1,400 sq. feet, the release demonstrates. Rental prices will array from $600,000 to about $1.5 million, PMG running principal Ryan Shear verified. Miami-based Sieger Suarez Architects is coming up with the undertaking. PMG Household will guide sales of the challenge, which will split floor afterwards this calendar year and is expected to be concluded in early 2028, he mentioned.
Facilities in the tower will include a pool, conditioning centre, spa services, a pickleball court, kid’s club, cafe and juice bar, canine operate and a wellness concierge, the release demonstrates. The place of work suites will be spread across a dozen floors in the making that will be managed by a individual office HOA, and will consist of reception regions with concierge secretary products and services, in accordance to Shear and the press release.
He sees the buyers for the constructing as people today who are looking for a superior operate-everyday living stability.
The New York and Miami-based mostly organization, led by Shear and taking care of principal Dan Kaplan, declared strategies very last week for a 18-tale, 44-unit condominium in Fort Lauderdale, with prices starting up at $3 million. It marks the developer’s very first Fort Lauderdale venture.
The launches appear amid a tighter lending market, but Shear is nevertheless betting on PMG’s odds for landing funding for South Florida condos.
“South Florida condos are just one particular of the less difficult if not best asset classes,” he claimed. “With the correct margin, you should get financed. I really don’t assume this need to be a ridiculous obstacle.”
Before this month, Ytech landed $104 million in funding for its prepared 1428 Brickell Residences, a 70-tale, 189-unit task with asking prices starting up at $2 million.
Other condo towers prepared in Brickell incorporate Mast Capital’s Cipriani-branded 80-story, 397-unit tower, which landed a record $600 million development loan last thirty day period. Also previous thirty day period, Michael Stern’s JDS Development launched revenue of its Mercedes-Benz-branded 67-tale tower, which will have 791 units beginning at $500,000.
Shear stated PMG has a different project set to launch in Wynwood afterwards this spring, but declined to remark even further on the task.
