search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealGlossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsLandlords to Rent Board: The Bronx will burn againLandlords to Rent Board: The Bronx will burn again
Development
South Florida

Falcone proposes 53-story condo-hotel at Miami Worldcenter

City board expected to vote Wednesday on project with 280 hotel keys, 351 condos, retail and restaurant

Falcone Plans Nichols-Designed Miami Worldcenter Condo-Hotel
A photo illustration of Falcone Group's Art Falcone and renderings of the proposed 53-story condo-hotel at Miami Worldcenter (Getty, Nichols Architects, Falcone Group)

Falcone Group wants to build a 53-story condo-hotel at Miami Worldcenter, marking the latest planned addition to the 27-acre mixed-use complex. 

The Boca Raton-based firm, led by Art Falcone, proposes a tower with 280 hotel keys, 351 condos, 3,500 square feet of retail and an 8,000-square-foot restaurant on a 0.7-acre site at 155 Northeast 10th Street in Miami, according to a proposal filed to the city last month. The Miami Urban Development Review Board is expected to vote on the project on Wednesday. 

Designed by Nichols Architects, the tower would offer units ranging from studios to three-bedrooms, six levels of parking, a gym, spa and meeting spaces, a Nichols news release says. The design would be broken into several sections, starting with retail and a two-story restaurant on the ground-floor and mezzanine. The tower also would have a pool deck on the 10th and 25th floors. 

The project would be branded, though the brand hasn’t been announced. 

Miami Worldcenter is a $6 billion development at the intersection of downtown Miami and the city’s Park West neighborhood. The master developer is Miami Worldcenter Associates, led by Falcone and Nitin Motwani of Fort Lauderdale-based Merrimac Ventures, in partnership with Los Angeles-based CIM Group. Over the years, the master developers have sold off sites at Miami Worldcenter to other developers, while building out other lots on their own. 

Sign Up for the undefined Newsletter

Merrimac and Aria Development Group plan the 32-story 600 Miami Worldcenter tower with 606 fully furnished short-term rental condos. Last month, the developers landed a $95 million construction loan for the project at 600 Northeast First Avenue. 

New York-based Naftali Group, led by Miki Naftali, and Cara Real Estate Management launched condo sales last fall of their planned 67-story tower at 106 Northeast Second Avenue. The project will consist of 535 apartments and 259 condos. The condos will start on the 43rd floor, and prices begin in the $540,000s. 

Read more

In September, the Miami Urban Development Review Board greenlit Lalezarian Properties’ three-tower project with 2,040 apartments at 10 and 20 Northeast Eighth Street and 777 North Miami Avenue, as well as Abbhi Capital’s 61-story, 558-unit residential tower and a 35-story building with 370,000 square feet of offices on the northeast corner of Northeast First Avenue and Northeast 10th Street. 

Completed portions at Miami Worldcenter include the 569-unit Paramount Miami Worldcenter condo tower, the 434-unit Bezel apartment tower and the 444-unit Caoba apartment tower. 

Miami Worldcenter also has 300,000 square feet of retail space, including the 80,000-square-foot glass-encased Jewel Box. 

Tags
Art FalconeCondo MarketCondosDowntown MiamiHotelsMerrimac VenturesMiami WorldcenterMiami-Dade CountyRestaurantsRetail