The party continues: developers of E11even Hotel & Residences Miami launch second tower

Prices start in the mid-$300Ks

Miami /
Nov.November 11, 2021 06:00 PM

From left: Ryan Shear, Marc Roberts and Michael Simkins in front of a rendering of E11even Hotel & Residences’ Tower 2 (E11even Hotel & Residences, MarcRoberts.com)

The developers of E11even Hotel & Residences are keeping the party alive and launching sales of a second tower.

E11even Partners and Property Markets Group, which sold out the first phase of the development, unveiled plans for a second tower that will connect to the first tower at the ground level and via a sky bridge. The second 65-story tower, called E11even Residences Beyond, is planned for 29 Northeast 11th Street in the Park West neighborhood in downtown Miami.

The developers are breaking ground on phase one, a 65-story, 375-unit hotel and condo tower, on Thursday evening at an event that will include a special performance at the nightclub.

Marc Roberts and Michael Simkins, the owners of E11even, a 24/7 nightclub, teamed up with PMG to soft-launch sales of the first building at the start of the year, and sold out quickly, with an average price per square foot of about $1,150, Roberts said.

Buyers in the first building include “people in their 20s, crypto buyers, celebrities and influencers, and a lot of our clientele” at the nightclub, Roberts said. The celebrities include WNBA player Candace Parker, ESPN co-host Sage Steele and MMA fighter Luke Rockhold, according to a release.

The first tower will feature the amenities for the entire project, including a casino-style sports launch, a rooftop, a spa and wellness center by Dr. Deepak Chopra, and a number of chef-driven restaurants. It’s expected to be completed in 2023.

The second 461-unit tower could break ground next summer, with both connecting buildings under development at the same time, Roberts said.

At the second building, units will range from 318-square-foot studios to 993-square-foot two-bedrooms, along with a “presidential collection” of units ranging from 1,167 square feet to 2,762 square feet. Penthouses will start at 2,213 square feet. It will also have a pool deck, fitness center, and office suites.

Prices start in the mid $300,000s and the developers are accepting cryptocurrency through a partnership with FTX. The in-house sales team is led by Raquel Kaufman. (PMG is also accepting cryptocurrency via FTX for deposits on units at the nearby Waldorf Astoria Residences Miami project.)

Sieger Suarez Architects is designing the E11even development. The units will all be finished and furnished. Roberts said the sales center is opening in about two to three weeks. The developers are also working on finalizing a construction loan, he said.

“There’s a lot of bidders on it,” Roberts said, pointing to the fact that the developers are sold out. Buyers have put down 30 percent deposits, with another 10 percent due one year after groundbreaking.

The site is part of Simkins and Roberts’ larger 11-plus acre assemblage in Park West, which was one of the properties Amazon considered while on the hunt for its second headquarters.





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