The Real Deal Miami

Miami’s Krystal Tower launches preconstruction sales

10 South American buyers put down deposits
By Chris Guanche | December 01, 2014 04:40PM

An attendee tries a 3D demo of Krystal Tower renderings

An attendee tries a 3D demo of Krystal Tower

Miami condo project Krystal Tower opened preconstruction sales last week, securing 5 deposits from Brazilian buyers and five from Venezuelan buyers on the units, according to the sales director at Grand Floridian Estate Realty.

The 35-story condo will be located at 530 Northwest First Court and offer one- and two-bedroom units ranging from 907 to 1,330 square feet, with prices starting in the $200,000s. Designed by Glidden Spina + Partners, the building’s amenities will include a fitness center, rooftop pool deck, theater, club room, lounge and children’s playroom.

Krystal Tower will be located adjacent to All Aboard Florida’s proposed Grand Central Station. It’s the first U.S. project for Brazilian developer Rodolfo Ishak, founder of Krystal Investment Solution and construction company Constructora Village. Groundbreaking will happen in early 2015, with the building scheduled for occupancy in the second half of 2016.

Roderyck Reiter, the project’s sales director, told The Real Deal that Ishak has several unannounced South Florida projects planned, but right now the focus is on Krystal Tower. “He is very much concentrating on ensuring that Krystal Tower is a success,” he said in an email.