Okan Tower Reaches 75% Structural Completion As Construction Passes 50th Floor in Downtown Miami
The 902-foot Okan Tower has reached 75% structural completion, with 50 of its 72 floors now in place. With construction crews ascending at the breakneck speed of one floor a week, the Hilton Hotel-anchored, tulip-shaped supertall tower is zooming toward the finish line with a top off anticipated for August.
The 902-foot Okan Tower has reached 75% structural completion, with 50 of its 72 floors now in place. With construction crews ascending at the breakneck speed of one floor a week, the Hilton Hotel-anchored, tulip-shaped supertall tower is zooming toward the finish line with a top off anticipated for August.
The tower, designed by Behar Font & Partners, is a masterful case of engineering meeting design. As the building continues its rapid ascent, its sculptural form is beginning to take shape on the skyline. Installation of the tower’s curtain wall has already advanced dozens of floors up the structure, while a series of stepped floor plates are creating the layered exterior inspired by the form of a Turkish tulip. Now rising above the surrounding Downtown buildings, the tower has quickly become one of the most visible projects reshaping Miami’s skyline.
Set to rise 902 feet, Okan Tower will be the second-largest tower in Downtown Miami. Developed by Okan Group and located at 555 North Miami Avenue, the tower is a mixed-use masterpiece, uniting hospitality, residential, wellness, and office components within a single vertical address.
The project will be anchored by a 316-key Hilton Miami Bayfront Hotel, with 236 condo-hotel units managed by Hilton Hotels & Resorts®. The tower will feature 163 Sky Residences and approximately 64,000 square feet of Class A office space.
Positioned in the urban core, Okan Tower offers direct connectivity to Miami Worldcenter and Downtown Miami’s expanding collection of cultural, dining, and entertainment destinations. From the Kaseya Center to the Frost Museum, the Adrienne Arsht Center for the Performing Arts, and Freedom Tower, the location sits at the nexus of the city’s cultural and entertainment centers.
“Reaching this stage of construction is a significant achievement for the project,” said Bekir Okan, Chairman of Okan Group. “Okan Tower represents years of planning, design, and coordination. Seeing the building take its place on the Miami skyline is both rewarding and a clear reflection of the team’s disciplined execution.”
Global buyers have taken notice. Since launch, Okan Tower has secured buyers from key domestic and international markets, including Argentina, Mexico, the United States, Colombia, Turkey, Spain, and Denmark. The steady demand reflects Miami’s continued strength as a global investment and residential market, supported by ongoing migration, capital inflows, and sustained interest in South Florida’s high-end real estate sector.
“The project’s steady construction progress reflects the consistency of buyer interest we’ve seen since launch,” said Michael Sadov, Sales Director at Okan Tower. “Purchasers increasingly view Downtown Miami condos as an asset class of their own with all the lifestyle benefits that come with living in the epicenter of the most exciting city on the planet.”
Rising as one of the most architecturally distinctive supertalls in the United States, the tower delivers a fully integrated lifestyle experience anchored in design and global hospitality. Its tulip-inspired silhouette introduces a new architectural icon to the Miami skyline. The building is anchored by a ground-floor arrival with 24-hour reception and concierge services. Residents will have access to a 72nd-floor rooftop pool and sky deck with private cabanas, among the tallest rooftop pools in the country, offering expansive views of Downtown Miami and Biscayne Bay, as well as a 12th-floor lap pool complemented by a clubroom and indoor-outdoor lounge spaces.
Wellness-focused amenities include a traditional Turkish hammam, sauna, steam rooms, and private treatment areas, alongside a state-of-the-art health and fitness center, yoga studio, and Peloton® bikes. Additional features include a children’s sensory and playroom, technology theater, wine cellar, and owner’s lounge, all supported by dedicated lifestyle services for residents and guests alike.
Exclusively marketed and sold by Fortune Development Sales, Okan Tower’s sales gallery is located at 542 North Miami Avenue.
Renderings via Okan Tower
Past PROFILEmiami articles about OKAN Tower:
For more information about Okan Tower or to inquire about purchasing a unit please fill out the form below:
Bayview PACE Provides $200 Million in C-PACE Financing for Florida’s Second-Tallest High-Rise, Okan Tower in Miami, Among the Largest Loans in the Country
Bayview PACE, a division of Bayview Commercial Mortgage Finance, has closed on $200 million in C-PACE financing for Okan Tower, a 72-story mixed-use high-rise being developed by Okan Group and designed by Behar Font & Partners.
Bayview PACE, a division of Bayview Commercial Mortgage Finance, has closed on $200 million in C-PACE financing for Okan Tower, a 72-story mixed-use high-rise being developed by Okan Group and designed by Behar Font & Partners. Having reached its 40th floor, more than halfway toward completion, Okan Tower at 555 N. Miami Ave. in downtown Miami will rise to 903 feet upon completion in 2028, becoming the second-tallest building in Florida.
Bayview PACE’s Commercial Property-Assessed Clean Energy (C-PACE) financing offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components, and it can be applied to new construction as well as renovations. C-PACE financings to date in the U.S. exceed well over $10 billion, according to the C-PACE Alliance. It has been approved through legislation in 40 states, gaining popularity among real estate owners and the financial institutions looking to serve them.
The C-PACE financing from Coral Gables, FL-based Bayview PACE completes the capital stack of financing for the new luxury skyscraper. The uppermost floors of Okan Tower include 163 luxury condo residences – branded as Sky Residences -- that will offer a new level of design, amenities and expansive views for the South Florida market. Just below the private residences will be 236 condo-hotel units available for sale and managed by Hilton. Below the condo-hotel homes will be a 316-key five-star Hilton hotel. The Okan Tower’s lower levels will offer four floors of office space totaling 56,000 square feet of space.
The Sky Residences’ high-end amenities feature a 24-hour concierge, rooftop pool and outdoor lounge area with private cabanas, wine cellar, owners lounge, a spa including sauna, steam, and massage rooms, and a 429-space on-site parking garage. Sales of the Sky Residences and condo-hotel units are well underway led by Fortune International Group.
“We are pleased to provide this C-PACE financing to help complete Okan Tower’s capital stack and support Okan Group’s objectives,” said Jeff Klar, Vice President of Bayview PACE. “Bayview crafted a creative financing solution that was accretive to the sponsor’s goals and aligned with the project’s construction timeline. This nine-figure C-PACE transaction underscores both Bayview’s structuring expertise and the financial strength of the broader Bayview platform.”
“The closing of Okan Tower’s $200 million C-PACE financing is a defining milestone that validates both the project and the strength of the Miami market. This level of lender commitment—particularly in today’s disciplined capital environment—confirms confidence in the capital stack, the long-term fundamentals, and the vision behind what will be one of Downtown Miami’s most spectacular and architecturally significant luxury towers. For buyers, this reinforces that the time to invest in Downtown Miami is now, while pricing, product, and global demand are aligning at an exceptional moment,” said Michael Sadov, Sales Director at Okan Tower.
Okan Group, a Turkish-based group of companies founded in 1972, is a leading multi-national firm active in healthcare, finance, food, textiles, tourism, energy, education and real estate including the development of dozens of projects around the world. One of the firm’s commercial property entities, Okan Construction, is the general contractor for Okan Tower.
Bayview PACE, a division of Bayview Commercial Mortgage Finance, LLC, provides creative financing solutions that combine C-PACE lending with construction and bridge capital. Unlike most PACE-only providers, Bayview PACE partners with commercial property owners and developers to deliver a full capital stack solution. Their OKAN Tower financing follows two other major Florida deals by Bayview PACE in recent months including $180 million in C-PACE for Domus Brickell Center and $137 million in C-PACE for the Westin Cocoa Beach Resort & Spa.
PROFILE Project & Developer Pages:
Past PROFILE Articles about Okan Tower:
Renderings via Okan Tower
For more information about Okan Tower or to inquire about purchasing a unit please fill out the form below:
Master Construction Permit Issued For 70-Story Okan Tower in Downtown Miami
Okan Tower, Downtown Miami’s transformative new branded hospitality and residential development anchored by the 316-key Hilton Miami Bayfront Hotel, has reached a pivotal milestone with the issuance of its master construction permit.
Okan Tower, Downtown Miami’s transformative new branded hospitality and residential development anchored by the 316-key Hilton Miami Bayfront Hotel, has reached a pivotal milestone with the issuance of its master construction permit. The permit allows the development team to move forward with all interior and mechanical systems—including plumbing, HVAC, electrical, elevators, and life safety—marking the final step before full vertical completion and interior buildout.
Soaring to 70 stories, once completed, Okan Tower is on track to become one of the tallest buildings on Miami’s skyline at 902’. Construction of the project, led by Okan Construction LLC, has already reached the 30th floor of vertical construction, with the 50th floor expected by the end of the year. The team is currently working on the hotel mezzanine level located on the 30th floor. Just weeks away from the halfway mark, the tower is rising at a pace of approximately one floor per week. The building is projected to top off in 2026 and welcome residents and guests in 2027.
The master permit, issued by the City of Miami, is one of the most important approvals in any major construction project, consolidating all key trades into one comprehensive authorization, enabling work to advance across every level of the tower simultaneously. For developer Okan Group, this milestone signals accelerated momentum toward delivering one of Miami’s most ambitious and dynamic new buildings.
“With this permit in hand, we now have the green light to complete every element of the building,” said Bekir Okan, Chairman of Okan Group. “It’s a defining step that moves us from structure to experience—bringing to life the Hilton hotel, luxury residences, office space, and amenities that will make Okan Tower a destination in itself.”
The Hilton Miami Bayfront Hotel, which spans floors 14 through 30, is now structurally completed and is being built to a five-star standard. With Miami posting record hotel occupancy in 2024 and visitor demand continuing to surge, the Hilton Miami Bayfront is a much-needed addition to the city’s hospitality offerings—especially in the fast-growing Downtown Miami area.
Beyond hospitality, Okan Tower will include 236 condo-hotel units managed by Hilton Hotels & Resorts®, 163 luxury Sky Residences, nearly 68,000 square feet of Class A office space, and more than 80,000 square feet of amenities. All amenity spaces—excluding the highly anticipated rooftop pool—have already been completed to date.
Strategically located at 555 North Miami Avenue, Okan Tower places residents and visitors at the nexus of culture, entertainment, and commerce. The tulip-inspired tower, designed by Behar Font & Partners, pays homage to the developer’s Turkish heritage and represents a bold architectural statement in one of America’s most dynamic cities.
Exclusively marketed and sold by Fortune Development Sales, Okan Tower’s sales gallery is located at 542 North Miami Avenue.
Renderings via Okan Tower
For more information about Okan Tower or to inquire about purchasing a unit please fill out the form below:
The 902-foot Okan Tower has reached 75% structural completion, with 50 of its 72 floors now in place. With construction crews ascending at the breakneck speed of one floor a week, the Hilton Hotel-anchored, tulip-shaped supertall tower is zooming toward the finish line with a top off anticipated for August.