Aria, Largo and Place Projects Repay $77 Million Construction Loan for 2200 Brickell

Aria Development Group, Largo and Place Projects have fully repaid the $77 million construction loan that financed 2200 Brickell, closing out the Bank OZK senior debt as residents move into the five-story condominium on Brickell Avenue.

The development team announced the payoff October 6, confirming that Bank OZK had executed a satisfaction of mortgage. The milestone follows construction and delivery of the 103-residence building at 2200 Brickell Avenue.

Bank OZK committed the financing in October 2023. Arranged by The Aztec Group, the senior construction loan covered approximately half of the project’s total cost and carried a 36-month term at a floating rate of SOFR plus 4.00 percent. Its repayment completes the financing cycle for a project built on a 1.7-acre site in the southern portion of the Brickell neighborhood.

“Seeing residents move into a project while fully repaying our construction loan is a rewarding validation of that vision and the team that brought it to life,” said David Arditi, founding partner and president of Aria Miami.

Arditi described the financing as Aria’s fourth construction loan with Bank OZK. Largo and Place Projects have also borrowed from the lender on separate developments, bringing the three firms’ combined financings with the bank to six, according to the announcement.

Designed by Revuelta Architecture International with interiors by ODA, 2200 Brickell takes a lower-rise approach to a neighborhood better known for its condominium towers. Its five-story scale accommodates 103 homes alongside indoor wellness spaces and a one-acre rooftop amenity deck.

The rooftop includes a resort-style pool, pickleball court, quarter-mile walking track and outdoor recreation areas. Fitness, recovery and children’s spaces extend the amenity program throughout the building.

The financial milestone comes as the developers transition from construction to residential occupancy. OneWorld Properties, led by president and CEO Peggy Olin, is handling exclusive sales and marketing for the building’s final collection of residences.

Images courtesy of OneWorld Properties.

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2200 Brickell Achieves Temporary Certificate of Occupancy, Releases Final Collection of Residences Ahead of Delivery At 85% Sold

Aria Development Group, Largo, and Place Projects have received Temporary Certificate of Occupancy (TCO) for 2200 Brickell and will begin welcoming residents. With delivery now underway, the development team is releasing its final collection of residences, spanning all home types, including penthouses and private garden villas, representing the last opportunity to purchase at 2200 Brickell before the building is fully occupied. The five-story, 103-residence project has also surpassed 85% sold, reflecting continued demand for move-in-ready inventory and a more residential, lower-density alternative to Brickell's traditional high-rise market.

Located at 2200 Brickell Avenue, the development arrives at a time when move-in-ready boutique inventory remains limited throughout the neighborhood. In a district defined by soaring condominium towers, 2200 Brickell offers a more intimate residential experience centered on livability, wellness, and community. The project was conceived for buyers seeking a true home within Miami's urban core.

"The receipt of our TCO is an exciting milestone, first and foremost for the buyers who believed in this vision from the beginning," said David Arditi, Founding Partner and President of Aria Miami. "2200 Brickell was conceived as a more intimate residential alternative within one of Miami's most dynamic neighborhoods. It's incredibly rewarding to see that vision come to life as we begin welcoming residents home."

Developed by Aria Development Group, Largo, and Place Projects, and designed by Revuelta Architecture International with interiors by New York-based ODA, 2200 Brickell features 105 residences across just five stories, including one-to four-bedroom homes and garden villas. The project's floorplans, family-friendly amenities, and extensive lifestyle offerings were designed to support healthy, active, luxurious living and primary residency.

"From the outset, we believed there was an underserved segment of buyers looking for a different type of product on Brickell Avenue," said Nick Werner, Managing Partner of Largo. "The response validated that thesis. Buyers consistently gravitated toward the project's scale, floorplans, and amenity program because they could envision themselves living here long term."

The TCO marks the culmination of a multi-year effort to bring a unique concept to Brickell, transforming a 1.7-acre site into one of the neighborhood's newest condominium communities. As one of the few newly completed luxury developments currently delivering on Brickell, the project offers buyers the opportunity to purchase and occupy a finished residence rather than wait years for construction to conclude.

"One of the biggest advantages of a completed building is that buyers no longer have to imagine the lifestyle," said Peggy Olin, President and CEO of OneWorld Properties, the project's exclusive sales and marketing partner. "They can walk the property, experience the rooftop, tour the residences, and understand exactly what they're purchasing. We've seen that confidence translates directly into demand. Today's luxury buyer is increasingly focused on quality of life, convenience, and certainty, and 2200 Brickell delivers on all three in a way that resonates with both local buyers and those relocating to Miami."

Anchored by a one-acre rooftop amenity deck, the project emphasizes wellness, recreation, and community. Residents enjoy a resort-style pool and spa, outdoor fitness spaces, social lounges, co-working areas, a quarter-mile walking track, pickleball court, children's play areas, and outdoor grilling and dining spaces.

Additional amenities include the Vitality Club fitness center by Homage Fitness, which includes a Pilates studio by Nofar, a treatment suite and infrared sauna; dedicated work-from-home suites, a cycling lounge, valet service, optional self-parking on your floor, electric vehicle charging stations, and children's spaces designed by Silver Hill Arts. The development also holds a WELL Building Standard™ designation, reflecting its focus on health and well-being.

Residences range from one- to four-bedroom layouts, spanning approximately 590 to 2,070 square feet, including a limited collection of private garden villas. Homes feature floor-to-ceiling impact glass, expansive terraces, custom Italian kitchens designed by ODA New York, Thermador and Bosch appliances, spa-inspired bathrooms, and spacious custom closets.

Situated along Brickell Avenue, 2200 Brickell offers convenient access to Brickell City Centre, Mary Brickell Village, Coconut Grove, Key Biscayne, and Miami's cultural institutions while providing a more intimate residential environment rarely found within the neighborhood's urban core.

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Merrimac Ventures and Aria Development Group Lock Down $95 Million Construction Loan for Sold-Out 600 Miami Worldcenter

A joint venture between South Florida-based developers Merrimac Ventures and Aria Development Group is preparing to break ground on 600 Miami Worldcenter, a 32-story condominium tower set within Downtown Miami’s Miami Worldcenter 27-acre mixed use development, following locking down a $95 million construction loan from Banco Inbursa. Located at 600 NE 1st Ave., 600 Miami Worldcenter will deliver 606 fully furnished units with no restrictions on short-term rentals. Construction is expected to be completed in 2026.

Buyers are responding to 600 Miami Worldcenter’s short-term “turn-key” rental model, with all of the development’s units already pre-sold to residents hailing mostly from the U.S., Colombia, Turkey and Argentina. Residences will range from 407-square-foot studios to 830-square-foot two-bedroom units where prices started in the $400,000s.

OneWorld Properties, led by CEO Peggy Olin, is managing sales and marketing for 600 Miami Worldcenter. Newmark’s Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Daniel Matz and Holden Witkoff, along with the law firm of Bilzin Sumberg LLP’s Joseph Hernandez, Salomé Bascuñan, and Anthony De Yurre, represented the developers in the transaction.

“600 Miami Worldcenter has been one of our most anticipated and fastest-selling developments, which was appealing for our lenders at Banco Inbursa,” said Nitin Motwani, Managing Partner of Merrimac Ventures. “Heightened demand for the project’s ideal location and fully furnished turn-key residences are just some components that will make it a standout addition to our city-within-a-city at Miami Worldcenter.”

"600 Miami Worldcenter blends best practices from our most successful luxury residential developments with the excitement of Downtown Miami. We look forward to growing our relationship with Banco Inbursa through the construction of this beautiful project in our vibrant submarket," said David Arditi, Managing Partner of Aria Development Group.

600 Miami Worldcenter is the latest residential offering within Miami Worldcenter, the $6 billion mixed-use development transforming the heart of Downtown Miami. As the second largest urban development in the U.S. after Hudson Yards, the ‘city within a city’ features a diverse mix of residential, commercial and hospitality uses complemented by approximately 300,000 square feet of retail, restaurant, and entertainment space.

Merrimac Ventures’ presence in Downtown Miami also includes the development of Miami Worldcenter, which is being developed by master developers Miami Worldcenter Associates, led by Managing Partners Nitin Motwani and Art Falcone, in partnership with CIM Group.

In addition to 600 Miami Worldcenter, Merrimac Ventures is also developing two more residential towers within Miami Worldcenter: The Crosby, a sold out 450-unit condominium with no rental restrictions in partnership with Related Group, and the second phase of Caoba, a 40-story tower with 420 apartments.

Aria Development Group’s Downtown Miami portfolio includes the nearby YOTEL Miami, a 31-story condominium and hotel, and 501 First, a 476-unit condominium in partnership with AQARAT – both of which have no rental restrictions and are completely sold out.

Residences at 600 Miami Worldcenter will be curated by the award-winning design company, The Design Agency, and are equipped with floor-to-ceiling glass windows with custom window treatments, expansive balconies, flooring and furnishings on all residential interiors. Kitchens and bathrooms will include custom Italian cabinetry and countertops, top-of-the-line appliances with speed ovens, integrated paneled refrigerators/freezers, dishwashers, in-unit washers and dryers, and fully built-out spacious closets.

Designed by Revuelta Architecture, 600 Miami Worldcenter will boast luxury amenities including a summer kitchen, rooftop swimming pool with resort seating, a state-of-the-art fitness center with an outdoor private training area by Homage Fitness. 600 Miami Worldcenter will also feature a covered porte-cochère, 24-hour attended lobby, dedicated co-working space, resident lounge, and entertaining space, air-conditioned resident storage, and bike storage.

Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Pérez Art Museum Miami and the Frost Museum of Science; the Kaseya Center, the home of the Miami Heat; the Adrienne Arsht Center for the Performing Arts; and Miami Dade College’s Wolfson Campus. It is also adjacent to Brightline’s MiamiCentral station, which offers direct train service from Downtown Miami to Aventura, Fort Lauderdale, Boca Raton, West Palm Beach and Orlando, together with access to Tri-Rail, the Metromover, and the Metrorail – making Miami Worldcenter the largest and most connected transit-oriented development in Florida.

2200 Brickell Secures $77 Million Construction Loan from Bank OZK

Aria Development Group, Largo and Place Projects have secured $77 million in construction financing for 2200 Brickell, a five-story luxury condominium development on Brickell’s lush Millionaire’s Row. The construction financing was provided by Bank OZK which was represented by King & Spalding. Hunton Andrews Kurth and The Aztec Group represented the developers. 2200 Brickell is slated to break ground in Q4 2023. Residences are priced from $1.2 million with One World Properties as the exclusive developer sales brokerage representing 2200 Brickell.

“We are thrilled to continue our partnership with Bank OZK to bring this amazing project to life,” said David Arditi, Managing Partner of Aria Development Group. “Brickell remains a top market within Miami’s luxury sector. 2200 Brickell will play an instrumental role in continuing Brickell’s success thanks to its focus on residential wellness, tailored amenities in a boutique setting. Together with our partners, we look forward to welcoming residents into an exciting building in this thriving neighborhood.”

Situated along Brickell’s historic Millionaire’s Row, 2200 Brickell offers two, three, and four-bedroom condominiums and garden villas ranging from 1,200 to 2,100 square feet. Designed by Revuelta Architecture International, with interiors by the award-winning team at ODA New York, it is meticulously crafted to enhance the quality of life for all who live there through a harmonious fusion of organic and geometric design. Additionally, 2200 Brickell is being designed as a WELL Certified building, meaning it adheres to the WELL Building Standard™. This standard is focused on ensuring the health and wellness of residents by creating a positive human experience centered around 10 core concepts ranging from light, movement, and nourishment to materials, mind, and community.

“Bank OZK is pleased to provide construction financing for 2200 Brickell,” stated Greg Newman, Senior Managing Director of Originations at Bank OZK. “Aria and its partners are developing a trophy asset that is destined to be one of the premier condominium developments in Miami. This combination of top-tier sponsorship, marquee asset and dominant location aligns perfectly with our real estate lending strategy.”

2200 Brickell will offer an array of amenities including its one-acre rooftop haven, a sun-drenched lush landscape of exquisitely elevated amenities. This one-of-a-kind rooftop space includes a resort-style pool and outdoor spa with pool-side cabanas, a pickleball court, a summer kitchen with multiple seating areas, an outdoor fitness area designed by HOMAGE Fitness, a children’s play area designed by Silver Hill Arts, and a quarter-mile walking track.

Indoors, additional amenities include a cycling lounge and workshop with bicycle storage, custom indoor children’s playroom designed by Silver Hill Arts, a world-class state-of-the-art fitness center designed by HOMAGE Fitness, a wellness lounge with a treatment room and sauna, dedicated work from home suites with a conference room, a resident lounge and entertaining space, Luxer One automated parcel storage featuring a contactless digital package delivery system with cold storage, and a double-height, 24-hour attended lobby. For further convenience, residents will enjoy above-ground parking on all levels with direct access to their residences, on-site valet parking, electric vehicle charging stations, and a covered porte-cochère.

Images via 2200 Brickell

Aria Development Group Delivers The Sold-Out YOTELPAD Miami In Downtown Miami

New York and Miami-based Aria Development Group is pleased to announce the completion of YOTELPAD Miami, a 31-story condominium and hotel in the heart of Downtown Miami. The stylish mixed-use project was the first new construction condominium in the area to offer buyers the option to rent out their units for short-term stays without restrictions. The developer partnered with AQARAT, one of Kuwait’s leading real estate companies, to deliver this project as the first YOTELPAD on the East Coast.

“YOTELPAD Miami paved the way for other developers to offer short-term rentals and was an early project in the recent explosion of new development in Downtown that has transformed the neighborhood into an exciting, vibrant place to live,” said David Arditi, principal of Aria Development Group. “After selling out all of YOTELPAD Miami’s condos in just 15 months, we saw that there was incredible demand for this type of product, and there couldn't be a better time to deliver it.”

Located at 227 NE 2nd Street, YOTELPAD Miami offers the ultimate urban lifestyle for young professionals and like-minded individuals looking for the convenience of having the best of everything right at their doorstep, as well as the flexibility to rent out their unit when they’re not using it. Owners of the 231 residential “PADs” have the ability to participate in a short-term rental program through YOTEL, which also manages the 222 hotel “cabins” in the development. The project has led to a boom of new short-term rental condominiums in Miami, including another by Aria Development Group, 501 First, which is nearly sold out after launching sales last year.

YOTELPAD features an array of ultra-modern amenities as well as spectacular views of the Miami skyline. Comprising floors 15-30, residences include studios, one- and two-bedroom residences with thoughtfully designed floor plans showcasing integrated living, kitchen, and dining areas with top-of-the-line flooring, lighting and custom ITALKRAFT Italian cabinetry for an urban chic lifestyle.

Amenities include concierge services, secure bike storage, a gourmet coffee bar, two on-site restaurants and bars, co-working space, pool deck, state-of-the-art fitness center designed by New York-based celebrity training studio HOMAGE, and a pet spa. Residents also exclusively have access to a penthouse level Sky Lounge, which offers a game area, a sophisticated living room with a fireplace, and a chef's kitchen with a private dining space that can host 12 guests.

YOTELPAD Miami boasts two restaurants, giving residents and guests the ideal live-work-play experience. On the ground floor, Mazeh, a modern Middle Eastern restaurant by New York City-based GPG Hospitality, serves tapas-style shareable dishes and craft cocktails in an elevated yet relaxed setting. Fourteen floors up on the property’s pool deck, an elevated outdoor lounge called Float offers beverages and light fare that merge classic American tiki culture with the unique flavors of the Middle East.

Understanding the value of offering tech-forward amenities that enhance the residential experience, development also incorporates three Techi robot butlers by Techmetics, which can deliver loads up to 77 pounds, including food, beverages, gifts, documents, and more. Two robots are available to residents, and one is designated for hotel guests. Residents and guests can easily contact and track the robots through a user-friendly app control. The robots will roam the lobby during their downtime, engage in conversation, play music, and pass out treats.

YOTELPAD Miami Reaches 50% Sold Six Months After Launching Sales In Downtown Miami

Aria Development Group, a New York and Miami-based real estate investment and development company, along with joint venture partner, AQARAT, one of Kuwait's leading real estate companies, has announced that YOTELPAD Miami is now 50% sold just six months after launching sales in June 2018. OneWorld Properties led by Peggy Olin is the exclusive sales and marketing team for YOTELPAD Miami. The mixed-use hotel and residential development, which will be the first YOTELPAD on the East Coast, is located in Downtown Miami and is slated for completion in early 2021. The development’s attractive short-term rental options without any restrictions and leaseback program offer owners flexibility. More than 40% of YOTELPAD Miami’s buyers are investors from Mexico and China with a substantial amount of investors also coming from Argentina, Colombia and other South American markets.

“Our team has sold over 18 units per month over the last six months – that is 111 units and counting. This is something we have not seen in Miami in a long time,” said Peggy Olin, president and CEO of OneWorld Properties. “Buyers understand the value and freshness of the YOTEL brand and are looking for flexibility and a prime location. Miami serves as a significant gateway to global markets and has one of the largest financial districts in the U.S. Our team was able to take all the incredible elements of this project and the Downtown area to deliver the right product for this market.”

“The realization of YOTELPAD is a major milestone for Downtown Miami,” said David Arditi, principal of Aria Development Group. “It’s the first time a global hospitality brand will offer luxury living at an attainable price point. The innovative PAD concept, with its clever and adaptable floorplans and flexible rental options, is being received with great enthusiasm by local and international buyers alike. We are excited to forge ahead with construction and bring this highly-anticipated project to life.”

Upon completion of the project, YOTELPAD Miami will incorporate three Techi robot butlers capable of delivering beverages, food, gifts, documents and more. Raising the standard for residential amenities, two robots will be available to residents and one will be designated to guests of the hotel. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings. Other amenities include concierge services, secure bike storage, gourmet matcha bar, full-service restaurant and bar with outdoor seating and private dining, state-of-the-art fitness center, co-working space, a lounge, pool deck and pet salon. In addition, each PAD will come with a dedicated storage unit. Global design and engineering firm Stantec is the lead architect, interior designer and engineer for the project.

“As global experts in the residential real estate market, we believe in YOTEL’s new ‘live smarter’ PAD concept,” said Fahad Al-Shamlan, vice president of Investments & Acquisitions for AQARAT. “Our partnership with Aria Development Group on this project will transcend the boundaries of luxury in high-end resort destinations for the modern person.”

The 31-story YOTELPAD Miami, which is located at 227 NE 2nd Street and designed by Stantec, will feature 222 Yotel-branded “cabins” (hotel rooms), 231 “PADs” (condominiums) and amenities such as a Skytop Lounge, pool deck with restaurant and bar, fitness center, co-working space and pet spa. The hotel portion is located on floors 2-12 with the condominiums on floors 15-30. Condominium owners and residents will have access to exclusive amenities such as a 2,000 SF “Lounge in the clouds” with game area and chef’s kitchen. The high-tech units include studios to one- and two-bedrooms and range in size from 417 SF to 708 SF with top-of-the-line flooring and lighting, floor-to-ceiling glass windows, custom European cabinetry and Smeg brand Italian appliances. YOTELPAD Miami is scheduled for completion in early 2021.

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Downtown Miami's Planned YOTEL Will Launch As Residential-Hotel Hybrid Concept YOTELPAD Miami

YOTEL, which was approved in July by Miami's Planning & Zoning Department, will launch as the first East Coast location of their new YOTELPAD concept. Located at 227 NE 2nd Street in Downtown Miami, the YOTELPAD will be a 29 story tower designed by Stantec which will include both 208 residential units and 250 micro-sized hotel units. The building will be split with the residential units on top of the hotel units. Residential units come in 425 SF studios, one-bedroom and 700 SF two-bedroom floor plans; pricing starts at $250,000 and units will come fully furnished and move-in ready. Residential units will have the ability to be rented for short term via the hotel's rental pool. The YOTEL is being developed as a joint venture between AQARAT, a Kuwaiti real estate company, and Aria Development Group.

“Downtown Miami is emerging as a high-energy place to live, shop and work. With YotelPad Miami, we are meeting the strong demand for service-oriented, urban-chic apartments. In addition, owners have the unique opportunity to participate in a short-term rental program. Together with the Yotel brand, we are delivering a thoughtful, value-luxury experience in a dynamic location,” said David Arditi, Principal of Aria Development Group.