National developer PMG, Michael Simkins’ Lion Development Group, and Marc Roberts Companies have secured $215 million in construction financing for 38 West Eleventh Residences Miami, a 44-story, 659-residence condominium in Miami’s Park West neighborhood. Rising at 38 Northwest 11th Street and currently 99% sold, this property will offer fully furnished luxury residences along with short-term rental flexibility and an opportunity for owners to enjoy the ability to host guests 365 days a year on Airbnb*. Financing was provided by GoldenTree Asset Management. PMG Residential exclusively represents sales for 38 West Eleventh Residences Miami. John Moriarity & Associates is the general contractor behind the project, which is slated for completion in Q1 2028.
Josh Winefsky, Adrian Diaz, and Celeste Williams at Kramer Levin Naftalis & Frankel LLP served as the lead transactional counsel. Randy Barcelo at Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. served as local counsel. Javier Avino and Andres Rivero at Bilzin Sumberg Baena Price & Axelrod LLP served as land use counsel, and Evan Wagowski at Greenberg, Trager & Herbst, LLP served as construction counsel.
"The Park West neighborhood is growing in prominence, and we are thrilled to have GoldenTree's support in bringing 38 West Eleventh Residences to the forefront," said Ryan Shear, Managing Partner at PMG. "With its dynamic energy and robust sales momentum, this project is well-positioned to make a positive impact on Miami’s real estate market. Together with our partners and our stellar capital markets and legal teams comprised of Lowell Plotkin, Scott Buscemi, Jon Blank, Andrew Warman, and Paton Marion, we are eager to deliver a vibrant and flexible living experience that embodies the spirit of this remarkable development for future residents and guests alike."
Designed by internationally renowned architecture firm Sieger Suarez Architects, with residential interiors by Cotofana Designs, 38 West Eleventh Residences Miami will offer the best of both city living and access to nearby beaches. Each of its fully-finished and fully-furnished studio and one-bedroom units will feature top-of-the-line appliances, sweeping views of the Miami skyline, Biscayne Bay, and the Atlantic Ocean, as well as PMG smart home technology, delivering seamless personalization with the touch of a button for integrated audio, video and lighting systems.
“Miami’s ongoing transformation into a truly unparalleled culinary, entertainment, and residential destination makes it the perfect location for a development such as 38 West Eleventh Residences,” said Michael Simkins, President and CEO of Lion Development Group. “Not only does this project embody Park West’s spirit, but it deftly complements its lively live, work, play atmosphere to create a wholly dynamic living experience. We are excited to join PMG and Marc Roberts Companies in watching its world-class lifestyle take effect.”
Unique to 38 West Eleventh Residences Miami is its distinctive 30,000 square foot, tri-level experiential entertainment venue, which will bring an impressive array of experiences right at residents’ doorstep and seamlessly integrate with the entertainment district’s vibrant atmosphere. Additionally, each owner at 38 West Eleventh Residences Miami will have the opportunity to host on Airbnb year-round, marking the first time this feature is offered at a residential condominium in Miami.
“38 West Eleventh Residences presents a one-of-a-kind opportunity to live in the heart of one of Miami’s most up-and-coming and entertainment-filled neighborhoods,” said Marc Roberts of Marc Roberts Companies. “Alongside our partners, PMG and Lion Development Group, we are proud to receive the trust from the Capital Markets to deliver a transformational project of its caliber. We look forward to witnessing the lasting impact 38 West Eleventh Residences Miami has on Miami and its residential market for years to come.”
Over 20,000 square feet of amenities are available at 38 West Eleventh Residences Miami, specially curated to extend owner comfort and provide a luxurious lifestyle. Whether it’s relaxing by the expansive pool overlooking the Miami skyline, savoring culinary delights at the signature supper club restaurant on the main floor, or unwinding in private lounge areas, there is something for everyone. The state-of-the-art fitness centers, wellness features, and co-working space additionally ensure that residents will have access to every comfort and convenience right from home.
With more than three decades of experience in luxury residential developments nationwide, PMG continues to passionately transform skylines with impeccable attention to detail throughout each of its projects. In addition to its extensive portfolio of over 175 projects, the developer is famed for thoughtfully designed condominium developments including 111 West 57th Street in New York City; E11EVEN® Club Hotel & Residences & E11EVEN® Club Residences Beyond, Waldorf Astoria Hotel & Residences, One West Twelve Residences, One Twenty Brickell Residences, and The Elser Hotel & Residences in Miami; Sage Intracoastal Residences in Fort Lauderdale; as well as One Park Sarasota and One Park West on Florida’s west coast.
Renderings via ARX Creative
*Hosting is subject to local laws and other restrictions.
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