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PMG to launch sales of 34-story Brickell condo tower
240-unit One Twenty Brickell will include office suites with every condo
Days after launching its first Fort Lauderdale condo project, Property Markets Group said it will kick off sales for a 34-story planned residential tower in Miami’s Brickell next month.
The 240 units planned for the building, to be called One Twenty Brickell, at 120 Southwest 8th Street, will come fully furnished, according to a press release. Each condo will come with a furnished office suite as well, the release shows.
Floor plans range from studios to three-bedrooms, and 450 square feet to 1,400 square feet, the release shows. Condo prices will range from $600,000 to about $1.5 million, PMG managing principal Ryan Shear confirmed. Miami-based Sieger Suarez Architects is designing the project. PMG Residential will lead sales of the project, which will break ground later this year and is expected to be completed in early 2028, he said.
Amenities in the tower will include a pool, fitness center, spa facilities, a pickleball court, kid’s club, cafe and juice bar, dog run and a wellness concierge, the release shows. The office suites will be spread across a dozen floors in the building that will be managed by a separate office HOA, and will include reception areas with concierge secretary services, according to Shear and the press release.
He sees the buyers for the building as individuals who are looking for a better work-life balance.
The New York and Miami-based firm, led by Shear and managing principal Dan Kaplan, announced plans last week for a 18-story, 44-unit condominium in Fort Lauderdale, with prices starting at $3 million. It marks the developer’s first Fort Lauderdale project.
The launches come amid a tighter lending market, but Shear is still betting on PMG’s odds for landing financing for South Florida condos.
“South Florida condos are just one of the easier if not easiest asset classes,” he said. “With the proper margin, you should get financed. I don’t think this should be a crazy challenge.”
Earlier this month, Ytech landed $104 million in financing for its planned 1428 Brickell Residences, a 70-story, 189-unit project with asking prices starting at $2 million.
Other condo towers planned in Brickell include Mast Capital’s Cipriani-branded 80-story, 397-unit tower, which landed a record $600 million construction loan last month. Also last month, Michael Stern’s JDS Development launched sales of its Mercedes-Benz-branded 67-story tower, which will have 791 units starting at $500,000.
Shear said PMG has another project set to launch in Wynwood later this spring, but declined to comment further on the project.