Related Group, Tricap and Sydell Group Complete NoMad Residences Wynwood, Miami's Arts District First Hospitality-Infused Condominium

Internationally acclaimed real estate developers Related Group and Tricap, together with Sydell Group, have officially completed the NoMad Residences Wynwood, the first residential expression of the celebrated NoMad Hotels brand. Located at 2700 NW 2nd Avenue in Wynwood’s main corridor – steps from the world-famous Wynwood Walls – the nine-story, 329-residence community is now welcoming its first residents, with more than 90% of residences already accounted for. NoMad Residences Wynwood is also home to the celebrated Casa Tua Cucina to the heart of Miami's Wynwood Arts District

The NoMad brand was born in New York City, where it anchored the evolution of a wholesale district into one of Manhattan's most coveted addresses. In Wynwood, the brand’s effortless blend of cultural sensibility, culinary vision and residential warmth perfectly complements the neighborhood's eclectic character. It elevates it.

"For Wynwood, a neighborhood built on the collision of art, culture and creative ambition, the arrival of NoMad Residences feels less like a development milestone and more like an inevitability," said Nick Pérez, President of Related Group's Condominium Division. "We only partner with names that bring genuine character and depth to a project, and NoMad does that better than anyone. What we've built here is already a community landmark, one that will define this neighborhood for generations to come."

Since announcing the vision in 2022, the development team has been singularly focused on one challenge: translating NoMad's world-class hospitality ethos into a residential setting for the very first time. The result, shaped through a close collaboration between Arquitectonica, DesignAgency and Sydell Group, has resonated from the moment it came to market. Demand built steadily throughout development, with the project setting new price records for Wynwood in the process and now approaching full sellout. Fortune Development Sales is the exclusive sales partner.

The residences reflect the brand’s “artfully lived life” philosophy, blending old-world glamour, industrial edge and Wynwood’s creative energy into a single, seamless design language. Floorplans range from 464 to 931 square feet and include studios through two-bedroom layouts, all delivered fully furnished with curated turnkey packages designed for immediate, effortless living.

Interiors balance modern and vintage-inspired details with bold accents set against a restrained palette of stone, wood and brass, creating spaces that feel both refined and lived-in. Floor-to-ceiling glass doors open onto private balconies, filling each home with natural light and extending daily life into the outdoors. Kitchens are appointed with Bosch appliances, Italian-designed cabinetry and stone countertops, while spa-like bathrooms bring a quiet, hotel-inspired sense of ease to everyday routines.

Residences are also offered with flexible ownership and no rental restrictions, supported by in-house management handling guest services and operations.

NoMad Residences Wynwood is conceived as a fully immersive residential lifestyle. Two signature lobbies anchor the arrival experience, setting the tone for the building’s design from the moment of entry. At the top of the building, a rooftop lounge features panoramic views of downtown Miami, a resort-style pool with cabanas, an indoor-outdoor fitness lounge with cold plunge, plus summer kitchens, a cozy speakeasy and a parlour lounge.

On the ninth floor, the NoMad Library and Lounge serves as a secondary resident hub, offering shared workspaces, a card room and private dining areas.

Anchoring the ground floor, Casa Tua Cucina will open this spring with its signature open-kitchen concept and curated food and retail stations, bringing one of Miami’s most celebrated dining destinations to Wynwood. A rooftop restaurant and bar is also planned for the property, with more details to be announced in due course.

Its prime location also places residents minutes from additional MICHELIN-recognized and five-star dining establishments, as well as over 70 art galleries and upscale boutiques with Miami’s downtown and beaches just a short drive away.

True to Wynwood’s identity as Miami’s preeminent arts district, the building integrates museum-quality art throughout all interior and exterior spaces, with walls featuring hand-selected works from the Jorge M. Pérez Collection alongside commissioned pieces that pay homage to Wynwood’s mural tradition. The exterior is further defined by monumental installations from two internationally acclaimed artists, each bringing a distinct vision to the building’s façade.

British sculptor Alex Chinneck, known for large-scale architectural illusions and major public commissions across the UK, created a site-specific installation of oversized tubular forms tied into sweeping knots and bows that appear to break through the building’s façade.

Complementing this, Maine-based artist and designer Dean Barger created an expansive mural at the base of the building in gold and black, weaving together palm fronds, florals, ocean waves and marine life into a layered composition that reflects Miami’s natural environment and coastal identity.

Past PROFILEmiami articles about NoMad Residences Wynwood:

For more information about NoMaD Residences Wynwood or to inquire about purchasing a unit please fill out the form below:

NoMad Residences Wynwood Nears Completion, Bringing Old-School Glamour, Industrial Edge and Enduring Design to Miami’s Most Colorful Neighborhood

NoMad Residences Wynwood, the first-ever residential property for the world-renowned NoMad Hotels brand, is one step closer to redefining Wynwood’s art-driven lifestyle. Envisioned by Related Group and Tricap, the hospitality-infused condominium is now entering the final straight of its development process, with completion slated for late 2025.

“With vertical construction now complete, we turn our focus to the interiors - where the true character of the property begins to take shape,” said Nick Perez, President of Condominium Development at Related Group. “NoMad properties worldwide are celebrated for their seamless fusion of art, design, and hospitality. That same philosophy defines this new residential concept, where every space is meticulously curated, featuring bespoke details, museum-quality art, and an effortless sense of sophistication.”

Designed by the renowned Arquitectonica, with interiors by DesignAgency, the nine-story condominium tower presents an exceptional collection of 329 fully furnished homes, from stylish studios to elegant two bedrooms. Designed to embody the luxury that defines the NoMad brand, the tower will feature breathtaking floor-to-ceiling windows, private balconies and premium finishes. With no rental restrictions, owners can enjoy the flexibility to rent out their homes effortlessly, with a dedicated in-house management team that expertly manages guest check-ins and check-outs.

Much like the original NoMad Hotel transformed New York City’s Midtown District, NoMad Residences Wynwood’s public amenities are set to bring a new level of prestige to the surrounding neighborhood. These include the signature rooftop restaurant and NoMad Bar, led by James Beard Award-winner Leo Robitschek, and Casa Tua Cucina, one of the city’s most popular Italian and Mediterranean concepts.

“This property will quite literally become the heart of Wynwood,” adds Perez. “It’ll be a place to see and be seen, and our residents are set to have a front-row seat.”

Residents and guests will also enjoy a robust suite of private five-star amenities. These resort-inspired touches include a fully serviced pool with private cabanas, a state-of-the-art fitness lounge, and the NoMad Library and Lounge, which will host curated events and shared workspaces. Additional features include a card room, private dining room and museum-quality art hand-selected from the Jorge M. Pérez Contemporary Art Collection.

“As we prepare to welcome our residents home, we’re thrilled to see our vision take shape and contribute to Wynwood’s evolution as a global hub for art, culture, and elevated urban living,” says Nick Perez.

Nestled in a vibrant, walkable community, residents of NoMad Residences Wynwood are just steps away from an eclectic art scene, trendy boutiques and lively nightlife. With over 70 art galleries, luxury shops and MICHELIN-starred restaurants nearby, a rich cultural experience is available. The iconic Wynwood Walls, adorned with large-scale murals by renowned artists, enhance the neighborhood's creative atmosphere, making the project’s location a haven for those seeking an inspired urban lifestyle.

Now over 90% sold, the remaining homes at NoMad Residences Wynwood start in the $700,000s. Fortune Development Sales is the exclusive sales partner. For more information or to arrange a private tour of the sales gallery, please visit nomadwynwood.com or call 786-437-3368.

Images via NoMad Residences Wynwood

Related Group and Tricap Top Off NoMaD Residences Wynwood, The First Residential Concept from NoMaD Hotels

Leading real estate developer, Related Group, together with Manhattan-based developer Tricap, held a “topping off” ceremony for NoMad Residences Wynwood, the first residential concept by global hospitality icon NoMad Hotels and its parent company, Sydell Group. Located in the heart of Miami’s vibrant Wynwood Arts District, the nine-story condominium tower has over 80% of residences already under contract. Beauchamp Construction is managing the build, with completion slated for Q4 2025.

Crafted by the renowned Arquitectonica with interiors by DesignAgency, NoMad Residences Wynwood presents an exceptional collection of 329 fully furnished homes, from stylish studios to elegant two bedrooms. Designed to embody the luxury that defines the NoMad brand, the tower features breathtaking floor-to-ceiling windows, private balconies and premium finishes. With no rental restrictions, owners can enjoy the flexibility to rent out their homes effortlessly, with a dedicated in-house management team that expertly manages guest check-ins and check-outs.

“The topping off of NoMad Residences Wynwood marks a significant step in delivering a truly unique lifestyle experience that reflects the creative spirit of this neighborhood,” said Nick Pérez, President of Related Group’s Condominium Division. “As we get closer to welcoming our first residents to the NoMad brand’s debut residential project, we’re excited to see our vision come to life and play a part in shaping Wynwood’s future as a destination for art, culture and sophisticated urban living.”

NoMad Residences Wynwood’s appeal extends beyond its luxurious homes, offering the public access to world-class food and beverage experiences. Highlights include the signature rooftop restaurant and NoMad Bar, led by James Beard Award-winner Leo Robitschek, and Casa Tua Cucina, a high-end open-kitchen concept serving Italian and Mediterranean dishes. Residents and guests can also enjoy five-star resort-style amenities, including a rooftop lounge with panoramic views, a fully serviced pool with private cabanas, a state-of-the-art fitness lounge, and the NoMad Library and Lounge, which hosts curated events and shared workspaces. Additional features include a card room, private dining room and museum-quality art from the Jorge M. Pérez Collection displayed throughout the building.

Nestled in a vibrant, walkable community, residents of NoMad Residences Wynwood are just steps away from an eclectic art scene, trendy boutiques and lively nightlife. With over 70 art galleries, luxury shops and MICHELIN-starred restaurants nearby, a rich cultural experience is available. The iconic Wynwood Walls, adorned with large-scale murals by renowned artists, enhance the neighborhood's creative atmosphere, making the project’s location a haven for those seeking an inspired urban lifestyle.

Pricing for available homes at NoMad Residences Wynwood begins in the $600,000s. Fortune Development Sales is the exclusive sales partner.

Images via TAMZ

For more information about NoMaD Residences Wynwood or to inquire about purchasing a unit please fill out the form below:

Related Group and Tricap Break Ground On Hospitality-Infused Wynwood Condo 'NoMad Residences Wynwood'

Miami-based real estate developer Related Group (Related), together with Manhattan-based developer Tricap, has broken ground on NoMad Residences Wynwood, the first residential concept from the global hospitality icon, NoMad Hotels, and its parent company, Sydell Group. Located just steps from Miami’s world-famous Wynwood Walls, the nine-story condominium tower boasts an eclectic, modern design crafted by the world’s preeminent design talents with architecture by South Florida-based Arquitectonica and interiors by the renowned DesignAgency. With over 75% of its homes now in contract, NoMad Residences Wynwood is expected to reach completion in 2025. Pricing for NoMad Residences Wynwood begins in the $600,000s with Fortune Development Sales exclusively overseeing sales and marketing.

“No hospitality brand is better suited for Wynwood than The NoMad Hotels, a concept that pairs artistry with luxury to offer an inspired way of living,” said Nick Pérez, President of Related Group’s Condominium Division. “Much like how NoMad New York helped to transform Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, Related believes that the NoMad Residences Wynwood is poised to unveil the next chapter in Wynwood’s celebrated history.”

Designed to embody every luxury associated with the NoMad name, NoMad Residences, Wynwood brings the essence of a well-traveled, artfully-lived life to each home. The collection of 329 residences ranges from studios to two bedrooms, each featuring floor-to-ceiling windows, private balconies, open layouts and spa-like showers. Modern kitchens include premium Bosch appliances, Italian-style cabinetry adorned with brass hardware, and sleek stone countertops.

"The NoMad Hotels team has a reputation for crafting exemplary hotels featuring stand-out designs inspired by their surroundings,” said Andrew Zobler, Founder & CEO of Sydell Group. “We took the same approach with NoMad Residences Wynwood. We didn’t want to just create homes — we wanted to foster a sense of unity in a neighborhood known for its diverse, artistic energy.”

Each home comes fully furnished with packages curated by DesignAgency. Uniquely developed with no rental restrictions in mind, buyers will have the option to rent their homes to guests for any period of time, while a skilled in-house property management team will efficiently manage check-in and check-out processes.

Central to the property’s appeal are its world-class food and beverage offerings, which will be open to the public and include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, Vice President, Food & Beverage at Sydell Group, and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park. The property will also include an exceptional anchor destination on the ground floor, Casa Tua Cucina. A lighthouse brand that sets the standard for experiencing high-end social dining, ‘Cucina’ is an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare.

To enhance the hospitality-focused experience, residents and their guests can indulge in a full-suite of resort-style amenities, including an expansive rooftop lounge with panoramic views of downtown Miami, a fully-serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. The signature NoMad Library and Lounge, located on the ninth floor, will serve as a secondary resident hub, featuring NoMad-curated experiences and events, ample shared workspaces, and more.

Additional on-site highlights include a card room and private dining room. For art enthusiasts, many of the walls throughout the building will showcase museum-quality works from the Jorge M. Pérez Collection, with sections of the building commissioned to artists in ode to Wynwood. Surrounding the property is a vibrant, walkable community that boasts over 70 art galleries, luxury boutiques, seven MICHELIN-star and many five-star restaurants, and the world-famous Wynwood Walls.

“Wynwood isn’t just a neighborhood. It’s an ever-evolving hub of culture, cuisine and opportunity,” said David Edelstein, Principal at Tricap. “As a result of our collaboration with best-in-class partners, Related and Sydell Group, today’s groundbreaking marks the beginning of an immersive, hospitality-centric residential experience at the core of Miami’s famed art district.”

Recently, NoMad London, a flagship within the esteemed NoMad Hotels brand, secured a coveted spot on 'The World’s 50 Best Hotels’ list for 2023. This prestigious recognition reinforces Sydell Group’s commitment to upholding the highest standards in hospitality and design — a commitment that NoMad Residences Wynwood will reflect as it introduces the same level of exquisite craftsmanship to Miami's dynamic Wynwood neighborhood.

Images via NoMad Residences Wynwood

New York-Based Hospitality Concepts Add a New Level of Sophistication to Wynwood’s Culinary Scene

As the Wynwood Arts District continues to evolve into a vibrant enclave marked by world-class restaurants, stylish cocktail bars and eclectic cafes, some of the most notable names in New York City hospitality are now making a play for the neighborhood.

Offering a diverse mix of dining options, designer boutiques and a thriving arts scene, including more than 70 art galleries, Wynwood inspired many Silicon Valley companies such as Founders Fund and Atomic to relocate in recent years. New restaurant and hospitality concepts — several with New York origins — soon followed, adding to Wynwood’s dining and nightlife.

“Wynwood is swiftly becoming the SoHo of South Florida,” said Nick Pérez, Senior Vice President for Related Group, the developer behind the forthcoming NoMad Residences Wynwood and the single most active developer in the neighborhood. “The culinary transformation is pretty incredible, especially when you consider that seven of the restaurants listed in Miami’s Michelin guide are located in Wynwood, alongside many five-star restaurants. The impact that’s having on the neighborhood’s appeal cannot be understated.”

Among the many world-class culinary offerings now calling Wynwood home is Pastis, which will open its doors at New York-based developer Tricap’s 380 Northwest 26th Street in 2023. Driven by two James Beard Award-winning restaurateurs, Keith McNally and Stephen Starr, the Wynwood restaurant signifies Pastis’ first South Florida location, and will feature the classic bistro fare for which the Manhattan institution is known.

Other New York transplants include the Brooklyn import, Freehold, a unique hospitality concept that offers a hotel-like experience without hotel rooms. Encompassing more than 10,000 square feet, Freehold Miami includes a cafe, two bars, a coffee shop and ample co-working space. Wynwood residents can now also snag a slice of New York-style pizza, thanks to the arrival of Shelter, a popular Brooklyn shop, along with iconic eateries Joe’s Pizza and Prince Street Pizza.

The most highly anticipated New York arrival is the NoMad Residences Wynwood, the first hospitality-infused residential concept from global hospitality icon, NoMad Hotels. Developed by Related Group in partnership with Tricap and co-created with the acclaimed hospitality firm Sydell Group, NoMad Residences Wynwood will soon set the standard for the area’s food and beverage experiences.

“Similar to how NoMad New York is credited for transforming Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, we feel strongly that the NoMad Residences Wynwood will contribute to Wynwood’s explosive growth, leading it to become a top destination within Miami,” said Pérez.

At the heart of this promise is the property’s best-in-class food and beverage offerings, which will be open to the public and include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, Vice President, Food & Beverage at Sydell Group and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park. On NoMad Wynwood’s ground floor, residents and the community can enjoy a Casa Tua Cucina, an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare. 

The popularity of the NoMad brand has directly translated into robust sales activity at NoMad Residences Wynwood. Related reports having signed contracts on more than 50% of the building’s condominium homes, including a unit at roughly $2,000 per square foot, which shattered neighborhood price records.

“We know that buyers appreciate the luxury and exclusivity that comes with living in a hotel-branded residential property, especially one that is associated with an established flag such as NoMad,” adds Pérez. “We are confident that the NoMad Residences Wynwood will exceed their expectations for a hospitality-centric living experience.”

Designed in collaboration with globally-renowned partners DesignAgency and Arquitectonica, the nine-story building offers 329 turnkey homes. Layouts range from studios to two bedrooms, each featuring floor-to-ceiling windows and private balconies. All units will come fully furnished, with packages thoughtfully curated by DesignAgency. 

Uniquely developed with no rental restrictions, buyers will have the option to rent their homes to guests for any period of time. A skilled in-house property management team will efficiently manage check-in and check-out processes. 

Adding to the hospitality-focused experience, residents and their guests can take advantage of a full-suite of resort-style amenities, including an expansive rooftop lounge with panoramic views of downtown Miami, a fully serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. 

Additional on-site highlights include a card room and private dining room. For art enthusiasts, many of the walls throughout the building will feature museum-quality works from the Jorge M. Pérez Collection, with sections of the building commissioned to artists in ode to Wynwood.

Pricing for NoMad Wynwood’s available units begins at $600,000. For more information or to arrange a private tour of the sales gallery, please visit nomadwynwood.com or call (786) 437-3355.

Related Group And Tricap Launch NoMad Residences Wynwood With A Casa Tua Cucina

One of Florida’s leading developers Related Group, together with Manhattan-based developer Tricap, have unveiled plans for the NoMad Residences Wynwood, the first residential concept from the global hospitality icon NoMad Hotels and its parent company, Sydell Group.

Known for thoughtfully designed properties, grounded in the idea of ‘creating an artfully lived life,’ NoMad Hotels have captured the imagination of world travelers. The brand’s curated approach has earned countless accolades from media and industry organizations, including NoMad London being honored as one of the city’s top hospitality destinations by Architectural Digest, Conde Nast Traveler and Vogue, as well as the AHEAD Global Ultimate Award for “Best New Hotel in the World” and “Hotel of the Year” at the AHEAD Europe 2021 awards.

“There is no brand better suited for Wynwood,” says Jon Paul Pérez, President of Related Group. “Each NoMad Hotel embraces and elevates its surrounding communities with an artistic spirit that fuels excitement, energy and growth. Along with our partners at Tricap and NoMad, we are set to deliver the only residential experience worthy of this incredible neighborhood.”

Presenting experiences rich in style and mastery of craft, the NoMad Residences Wynwood is the first hospitality infused condominium in the market, drawing inspiration from the brand’s inaugural property in New York City, as well as its award-winning sister hotels in London, Las Vegas and Los Angeles. At the heart of this promise is the property’s best-in-class food and beverage offerings, which include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, VP of Food and Beverage at Sydell Group and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park.

Andrew Zobler, CEO at Sydell Group and recent Miami transplant, says, "Our team is known for creating unique hotels that feel like home and tell stories of their neighborhoods. As our first fully residential experience, we intend for the NoMad Residences Wynwood to become central to our residents’ life stories and set a new bar for condominium living."

The project will also include an exceptional anchor destination on the ground floor – Casa Tua Cucina. A lighthouse brand setting the standard for a new way of experiencing high-end social dining, ‘Cucina’ is an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare. A brand whose intention is set on offering meaningful and authentic experiences, Casa Tua Cucina brings soul, craftsmanship and a strong-rooted community to the heart of Wynwood.

“My team and I love Wynwood. The neighborhood is blooming and quickly asserting itself as one of the world’s great communities,” says Casa Tua founder Miky Grendene. “It’s been incredible to work with all the talented teams involved in the NoMad project, all of which share our commitment to simplicity, quality, and service. We cannot wait to deliver a gathering space that’s as vibrant and soulful as Wynwood itself.”

Located at 2700 NW 2nd Avenue, steps from the world-famous Wynwood Walls, the NoMad Residences Wynwood continues the brand’s tradition of blending iconic heritage with new, cutting-edge ideas. The brand’s focus on eclectic, modern design remains a priority, with all interior spaces envisioned by DesignAgency – known for their work with world-renowned brands. Working together with the development team and global award-winning architecture firm Arquitectonica, DesignAgency is committed to delivering spaces that honor and complement Wynwood’s free-thinking aesthetic.

The meticulous attention to detail extends to the bespoke on-site amenities, hand-selected by NoMad’s world-class team. In addition to the showstopping eatery and bar, the expansive rooftop will feature striking panoramic views of downtown Miami, a fully serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. The signature NoMad Library and Lounge, located on the ninth floor, will serve as a secondary resident hub, featuring NoMad-curated experiences and events, ample shared workspaces, and more. Additional on-site highlights include an outdoor theater with a seating lawn and grilling area, 24/7 valet service, and museum-quality art handpicked from the Jorge M. Pérez Collection.

The 329-units within the nine-story building range from 464 to 931 square feet and come standard with high ceilings and floor-to-ceiling sliding glass doors leading out to private balconies. Kitchens will be equipped with premium Bosch appliances, Italian-style cabinetry adorned with brass hardware, and sleek stone countertops. All units will also come fully furnished, with packages curated by DesignAgency. Buyers will also have the option to rent their units to guests, with the expert in-house property management team spearheading check-in and check-out.

The surrounding Wynwood neighborhood – praised as one of the country’s hottest neighborhoods by Tripadvisor and the most walkable area in Miami – frames the property. Residents enjoy easy access to countless office hubs, including a WeWork location, 70+ art galleries and countless street-level murals, trendy boutiques featuring a mix of eclectic and couture fashion, as well as well-known retailers, such as Marine Layer and Warby Parker. The property is also steps from Miami’s most exciting culinary scene, featuring nationally recognized outposts such as KYU, Panther Coffee, Uchi, Zak the Baker and many others.

“There are no compromises here,” says David Edelstein, Principal at Tricap. “Between the unmatched location, The NoMad Bar, Casa Tua, the first-class amenities, and exclusive thoughtful offerings, the NoMad Residences Wynwood sets the standard for all future residential concepts in the area.”

With prices starting in the mid $500,000s, reservations for the NoMad Residences Wynwood are set to begin in April 2022, with groundbreaking targeted for the last quarter of 2022. Fortune Development Sales is the exclusive sales partner.

Images via Related Group

For more information about NoMad Residences Wynwood, private showings or purchasing/ leasing information please fill out the form below:

TriStar Capital and RAL Development Acquire Final Piece Of Wynwood Assemblage For $13 Million

David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave., financed by a $12.1 million mortgage provided by Comerica Bank. The property currently has a 20,239 SF building that will be demolished to make way for an office campus that includes the adjacent 39,732 SF lot at 2661 NW 5th Ave. which TriStar Capital acquired in 2018 for $18 million. Combined the assemblage totals 70,932 SF and cost $31 million.

The developers are planning to build a modern, technologically advanced office campus targeted at Miami’s fast growing tech sector. The campus will feature two Arquitectonica-designed mixed-use 8-story office towers with roughly 300,000 SF of Class A office space.

Images via TriStar Capital

RFR Holding And Tricap Partnership Acquire 12 Units At W South Beach For $10.78 Million

A partnership between Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap, who also co-developed W South Beach, have closed on the purchase of 12 units at the iconic beachfront condo-hotel for $10.78 million. The acquisition was financed with a $6.9 million loan from Citibank and Deutsche Bank and brings the partnership’s holdings to 225 units at the condo-hotel and plans to roll the newly acquired units into the hotel program.

The seller was a group of entities tied to Ralph and Joseph Nakash who initially purchased the units in 2014/ 2015 for roughly $9.85 million. The Nakash family are the owners of Jordache Enterprises which owns the Versace Mansion and Setai Miami Beach Hotel.

The deal was in the spotlight in the summer of 2020 after the RFR and Tricap partnership nearly did not close on the units during the COVID-19 pandemic and sued for their deposit back. The dispute was reportedly solved amicably.

The 20-story, 408-key W South Beach was developed in 2009 and just underwent an eight-month, $30 million renovation. W South Beach is located at 2201 Collins Ave.