|
Getting your Trinity Audio player ready...
|
(Photo courtesy Tamz)
A joint venture between South Florida-based developers Merrimac Ventures and Aria Development Group has broken ground on 600 Miami Worldcenter, a 32-story condominium tower set within Downtown’s Miami Worldcenter 27-acre mixed use development, which will deliver 606 fully furnished units with no restrictions on short-term rentals.
The groundbreaking, which took place on Mar/ 8, was made possible by a $95 million construction loan from Banco Inbursa which the development team secured earlier this year to help fund the sold-out tower’s development at 600 NE First Ave. Construction is expected to be completed in 2026.
Buyers are responding to 600 Miami Worldcenter’s short-term “turn-key” rental model, with all of the development’s units already pre-sold to residents hailing mostly from the U.S., Colombia, Turkey and Argentina. Residences will range from 407-square-foot studios to 830-square-foot two-bedroom units, with prices starting in the $400,000s.
OneWorld Properties, led by CEO Peggy Olin, is managing sales and marketing for 600 Miami Worldcenter.
“As a growing cosmopolitan city, Miami is seeing incredible demand for residences with no rental restrictions, with the city among the top 10 highest markets in the U.S. for short-term rental average daily rates. We are thrilled to break ground on 600 Miami Worldcenter, providing flexible ownership and living options for a new generation of buyers coming to South Florida,” said Nitin Motwani, managing partner of Merrimac Ventures.
600 Miami Worldcenter is the latest residential offering within Miami Worldcenter, the $6 billion mixed-use development transforming the heart of Downtown Miami. As the second largest urban development in the U.S. after Hudson Yards, the “city within a city” features a diverse mix of residential, commercial and hospitality uses complemented by approximately 300,000 square feet of retail, restaurant, and entertainment space.
Merrimac Ventures’ presence in Downtown Miami also includes the development of Miami Worldcenter, which is being developed by master developers Miami Worldcenter Associates, led by managing partners Nitin Motwani and Art Falcone, in partnership with CIM Group.
In addition to 600 Miami Worldcenter, Merrimac Ventures is developing two more residential towers within Miami Worldcenter: The Crosby, a sold out 450-unit condominium with no rental restrictions in partnership with Related Group, and the second phase of Caoba, a 40-story tower with 420 apartments.
“We are thrilled to continue growing our residential footprint at the heart of Miami’s most dynamic neighborhood. 600 Miami Worldcenter clearly illustrates the alignment of supply and demand for the right product at the right price and in the right location,” said David Arditi, managing partner of Aria Development Group.
Aria Development Group’s Downtown Miami portfolio includes the nearby YOTEL Miami, a 453-unit condominium and hotel, and 501 First, a 476-unit condominium in partnership with AQARAT – both of which have no rental restrictions and are completely sold out.
Residences at 600 Miami Worldcenter will be curated by the award-winning design company The Design Agency, and are equipped with floor-to-ceiling glass windows with custom window treatments, expansive balconies, flooring and furnishings on all residential interiors. Kitchens and bathrooms will include custom Italian cabinetry and countertops, top-of-the-line appliances with speed ovens, integrated paneled refrigerators/freezers, dishwashers, in-unit washers and dryers, and fully built-out spacious closets.
Designed by Revuelta Architecture, 600 Miami Worldcenter will boast luxury amenities including a summer kitchen, rooftop swimming pool with resort seating, a state-of-the-art fitness center with an outdoor private training area by Homage Fitness. 600 Miami Worldcenter also will feature a covered porte-cochère, 24-hour attended lobby, dedicated co-working space, resident lounge, and entertaining space, air-conditioned resident storage, and bike storage.
Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Pérez Art Museum Miami and the Frost Museum of Science; the Kaseya Center, the home of the Miami Heat; the Adrienne Arsht Center for the Performing Arts, and Miami Dade College’s Wolfson Campus.
It is also adjacent to Brightline’s MiamiCentral station, which offers direct train service from Downtown Miami to Aventura, Fort Lauderdale, Boca Raton, West Palm Beach and Orlando, together with access to Tri-Rail, the Metromover, and the Metrorail – making Miami Worldcenter the largest and most connected transit-oriented development in Florida.
For more information about 600 Miami Worldcenter, or to schedule a tour of the sales gallery, visit www.600mwc.com or call 305-684-0600.
ABOUT US:
For more Miami community news, look no further than Miami Community Newspapers. This Miami online group of newspapers covers a variety of topics about the local community and beyond. Miami’s Community Newspapers offers daily news, online resources, podcasts and other multimedia content to keep readers informed. With topics ranging from local news to community events, Miami’s Community Newspapers is the ideal source for staying up to date with the latest news and happenings in the area.
This family-owned media company publishes more than a dozen neighborhood publications, magazines, special sections on their websites, newsletters, as well as distributing them in print throughout Miami Dade County from Aventura, Sunny Isles Beach, Miami Beach, Coral Gables, Brickell, Coconut Grove, Pinecrest, South Miami, Kendall, Palmetto Bay, Cutler Bay and Homestead. Each online publication and print editions provide comprehensive coverage of local news, events, business updates, lifestyle features, and local initiatives within its respective community.
Additionally, the newspaper has exclusive Miami community podcasts, providing listeners with an in-depth look into Miami’s culture. Whether you’re looking for local Miami news, or podcasts, Miami’s Community Newspapers has you covered. For more information, be sure to check out: https://communitynewspapers.com.
If you have any questions, feel free to email Michael@communitynewspapers.com or Grant@communitynewspapers.com.
