JV Sells Out 32-Story Miami Condo Tower Before it’s Built
Construction on the project won’t be completed until 2026. But a team of Merrimac Ventures and Aria Development Group has already sold out 606 fully furnished units on 600 NE 1st Avenue. To be called 600 Miami Worldcenter, the tower is set within Downtown Miami’s Miami Worldcenter 27-acre mixed-use development and will have no restrictions on short-term rentals. The group is utilizing a $95 million construction loan from Banco Inbursa to fund the development of the sold-out tower. The project is designed by Revuelta Architecture.
The turn-key rental models will range from 407-square-foot studios to 830-square-foot two-bedroom units, starting in the $400,000s.
Merrimac’s Nitin Motwani added, “Heightened demand for the project’s ideal location and fully furnished turn-key residences are just some components that will make it a standout addition to our city-within-a-city at Miami Worldcenter.”
Miami World Center is the second largest urban development in the U.S. after Hudson Yards.
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Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.