Prosper Group and Versluys Group Announce $650M Ultra-Luxury Tower on the Miami River

Prosper Group, a Miami-based real estate development firm, has partnered with Belgium’s Versluys Group, one of Europe’s leading luxury property developers, to deliver a $650 million waterfront residential tower on the Miami River in Brickell, the city’s financial district. The collaboration marks Versluys Group’s official entry into the U.S. market and adds another world-class project to Miami’s expanding skyline.

The development will rise 60 stories across three prime parcels — 99 SW 7th Street, 66 SW 6th Street, and 625 SW 1st Avenue — which Prosper Group acquired earlier this year. Plans call for 158 ultra-luxury residences with over 300 feet of direct river frontage, offering residents a blend of urban sophistication and waterfront living. Delivery is anticipated for 2028.

“We’re honored to partner with Versluys Group, led by CEO Bart Versluys and COO Peter De Decker, whose century-long legacy of craftsmanship aligns perfectly with Prosper’s forward-looking vision for Miami’s next great waterfront address,” said Jay Roberts, CEO of Prosper Group.

Founded in 1908, Versluys Group brings more than a century of development expertise to the joint venture. The firm is known across Belgium and the Netherlands for its luxury coastal projects that pair refined European design with meticulous attention to detail. Versluys also completed the full renovation of La Réserve, a five-star superior hotel in the exclusive seaside town of Knokke-Heist, recognized as one of Belgium’s most prestigious hospitality destinations.

“That Versluys Group was selected from a range of internationally renowned developers is no coincidence,” said Bart Versluys, CEO of Versluys Group. “Since 1908, uncompromising quality standards, unmatched attention to detail, and a deeply rooted customer focus have formed the foundation of our company—values that align seamlessly with Prosper Group’s vision.”

Peter De Decker, COO of Versluys Group, added: “Jay Roberts and his exceptional team mirror our passion for innovation and our commitment to excellence. Having explored the Miami market, I’ve witnessed firsthand the extraordinary energy and momentum of this city. Together, we’re uniting European finesse with American drive to create something truly remarkable.”

Situated along the Miami River, the development will combine walkability, waterfront access, and connectivity, placing residents within steps of Brickell City Centre’s retail and dining destinations and minutes from Biscayne Bay’s boating and yachting lifestyle. The site also offers easy access to I-95, Miami International Airport, and Brightline, providing seamless mobility throughout South Florida and beyond.

Nearly 1,000' (300m) Suptertall Cipriani Residences Miami Reaches Halfway Milestone In Brickell, Now Standing 44 Stories

Cipriani Residences Miami, the first-ever ground-up residential building by the world-renowned Cipriani brand in the Americas, has surpassed a major construction milestone underscoring not only its rapid vertical ascent but also its emergence as Miami’s definitive premier tower. With construction, overseen by Moss & Associates, now surpassing its halfway point and standing at 44 stories, the 80-story tower has completed its 37th floor, which will be home to an exclusive resident-only Cipriani speakeasy.

Reaching this milestone illustrates the building’s strong focus on a curated, experiential lifestyle, and places the project on track to become the tallest building in Brickell. Upon completion in 2028, Cipriani Residences Miami will rise close to an astounding 1,000 feet, ushering in a new era of supertall residential towers in the neighborhood.

“This is a pivotal moment that represents far more than the halfway mark toward the building’s crown,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “With the completion of the 37th floor, we are celebrating our work redefining luxury living through record-setting vertical scale and lifestyle-driven design. We are also proving that our ambition is matched by our commitment to a swift delivery, as construction moves perfectly on schedule.”

At the heart of Cipriani’s 50,000-square-foot amenity collection lies a hidden gem: the speakeasy — an intimate, cinematic retreat that sets the tone for a lifestyle steeped in sophistication. Envisioned as a discreet social club in the sky, this resident-only lounge will serve signature Cipriani cocktails and refined light bites in an atmosphere of sophistication and connection. Here, culinary artistry merges effortlessly with spaces dedicated to wellness, leisure, and entertainment. Beyond the speakeasy, residents gain privileged access to a private Cipriani restaurant, 24/7 in-home dining, a resort-style pool deck, luxury spa with treatment rooms and sauna, pickleball court, golf simulator, screening room, and more—all conceived to create a fully immersive residential lifestyle. Every detail has been meticulously conceived to envelop residents in a world where elegance, comfort, and Cipriani’s legendary heritage converge.

The tower is climbing one level every three working days, one of the fastest vertical construction paces in Miami’s history. Behind this momentum is a next-generation, self-climbing slip form system, an advanced hydraulic technology that allows the building’s core to ascend continuously without crane dependency. This method maximizes efficiency and precision, enabling the tower to achieve supertall status safely and at speed.

In a district where land is scarce and values are soaring, Mast Capital’s decision to build upward reflects both necessity and ambition, transforming verticality into a new symbol of the city’s economic and cultural rise.

“In a neighborhood defined by skyrocketing land values and finite development opportunities, we chose to look upward and embrace verticality as both a necessity and an opportunity,” continued Camilo Miguel, Jr. “The result is a soaring architectural landmark that is a symbol of Miami’s global ascent as a leading hub for wealth, culture, and innovation.”

As Cipriani Residences Miami races skyward, its dual narrative—engineering excellence and experiential luxury—positions it not just as a building, but as a new status symbol for Miami. By marrying record-setting vertical scale with Cipriani’s legendary service, Mast Capital is delivering a project that will forever mark Miami’s ascent on the global stage.

Cipriani Residences Miami features 397 one- to four-bedroom residences with interiors designed by 1508 London to be aesthetically genuine to the renowned hospitality brand’s distinguished style. The top 18 floors feature The Canaletto Collection, a limited assemblage of six penthouses and 74 ultra-luxury homes. The Canaletto Collection offers priority access to amenities like the private speakeasy, exclusive global concierge services by BHB, and for purchase custom furniture and accessory packages crafted by 1508 London in two distinct styles.

Sales and marketing efforts for the project are handled exclusively by Fortune Development Sales, with Residences starting from $1.7 million and The Canaletto Collection Residences starting from $4.1 million.

Renderings via The Boundary

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

PMG, Lion Development Group and LNDMRK Development Break Ground on One West Twelve Residences in Downtown Miami

National developer PMG, Lion Development Group, and LNDMRK Development have broken ground on One West Twelve Residences (ONE W12), a luxurious residential building in the heart of Historic Overtown, which officially commenced on October 1. The property features 372 bespoke residences boasting captivating views of both Miami’s iconic skyline and vibrant sunset vistas. Residents will have access to a dynamic lifestyle with centralized proximity to one of Downtown Miami’s fastest-growing neighborhoods. ONE W12 will additionally evoke iconic Miami glamour through a curated selection of engaging amenities and entertainment-oriented experiences for residents and the surrounding community. PMG Residential is leading sales for the project, which is currently 97% sold, and John Moriarity & Associates is the general contractor. Completion of ONE W12 is slated for 2028.

“This neighborhood has experienced tremendous growth and transformation over the past decade, and as a local business owner, it’s been a privilege to witness and to contribute to that with meaningful projects like ONE W12,” said Michael Simkins, CEO of Lion Development Group. “I couldn’t be prouder of the work that we are doing alongside our partners, PMG and LNDMRK. We are excited to celebrate this milestone and look forward to the many more ahead as we bring our vision to life.”

Notably, ONE W12 will be home to Vibe BBQ, an inviting quick-serve restaurant from acclaimed chef and eight-time James Beard Foundation award winner Marcus Samuelsson. Samuelsson’s restaurant Red Rooster Overtown further solidified the neighborhood as a top dining destination in South Florida while the concept has become a favorite among Miamians. The Vibe BBQ concept at ONE W12 will feature elements of ‘Miami flair’ in the form of an expanded lounge area and cocktail offerings. True to its core, Vibe BBQ will embody an all-day celebration of American comfort classics.

Designed by CUBE 3, ONE W12 will offer amenities focused on promoting a vivid, experiential lifestyle for residents and the local community. These amenities include an elegant lobby inspired by the glamour and playful spirit of the storied locale, an atmospheric rooftop garden and pool with lounge areas, a state-of-the-art fitness center, curated art installations throughout the property, the latest smart-building technology, and house cruiser bikes with storage.

“One West Twelve Residences underscores our continued commitment to creating engaging, community-focused developments that elevate and redefine the residential experience for years to come,” said Ryan Shear, Managing Partner at PMG. “This project is a fresh and design-forward concept that we are confident will complement Downtown Miami’s lively atmosphere with the historic charm of the area. We look forward to this next chapter of the development and its contribution to the evolution of modern Miami living.”

ONE W12 offers fully furnished and finished studio and one-bedroom residences, along with a limited collection of one-, two-, and three-bedroom townhomes. Short-term rental flexibility will allow residents the option to customize and optimize their living experience to fit their lifestyle.

“ONE W12 has been incredibly well received by the community, which is a testament to how it answers the demand for quality, highly activated luxury developments to meet the ongoing evolution of the neighborhood,” said Alex Karakhanian, Principal of LNDMRK Development. “We’re excited to officially break ground and be one step closer to delivering on that promise.”

Stand-out residence features include fully-integrated kitchens with custom countertops, backsplashes, and a contemporary under-mount sink, fully built-out closets bedrooms, custom shades, a Miele appliance package, imported and custom kitchen and bathroom cabinetry by Italkraft, custom bathroom countertops and finished floors and walls in wet areas, modern bathroom fixtures, features, and accessories, a contemporary lighting package, and a built in top-of-the-line washer and dryer.

The property's centralized location gives its residents the best of both worlds, culture and entertainment through its proximity to the area known as the historic Overtown, Park West, and Miami's Arts and Entertainment District. Connectivity between South Florida’s largest metros is also made easy thanks to the property’s location nearby the MiamiCentral Station, a home base for South Florida’s rail systems including Brightline.

Renderings via ARX Creative

For more information about ONE W12 Residences or to inquire about purchasing a unit please fill out the form below:

Witkoff and Ocean Terrace Holdings Launch Sales For 'Ocean Terrace' in North Beach, Miami Beach

Witkoff Group, in partnership with Ocean Terrace Holdings, a partnership between Alex Blavatnik and Sandor Scher, has officially launched sales for Ocean Terrace, a highly anticipated oceanfront mixed-use development in North Beach, Miami Beach. With architecture by Revuelta Architecture International and interiors by RAMSA (Robert A.M. Stern Architects), Ocean Terrace offers carefully envisioned residences that embrace Miami Beach’s scenic beauty and sophisticated coastal lifestyle. Located directly on the ocean between 74th and 75th Streets with 350 feet of shoreline, the project includes a rare collection of 52 private condominium residences, and a separate tower featuring 24 resort residences all perched above curated retail spaces that enrich the local streetscape. The project also features a separate RAMSA designed historic hotel that has 42 luxury guestrooms.

“True to its name, Ocean Terrace is a development deeply connected to its surrounding ocean vistas,” said Alex Witkoff, Chief Executive Officer of Witkoff Group. “Framed by cinematic views of the water and park, the project features 350 feet of direct ocean frontage and uninterrupted views stretching a mile to the north — with amenities that float above the ground, overlooking the ocean.”

With a focus on craftsmanship and timeless design, Ocean Terrace is accentuated by signature touches from the esteemed RAMSA, also known for designing interiors for projects such as Shore Club Private Collection in Miami Beach, as well as 20 East End Avenue and 30 Park Place in New York. The residences include thoughtful finishes such as Parquet de Versailles white oak flooring, custom RAMSA-designed cabinetry, natural stone countertops and chef-caliber Gaggenau appliances, as well as unique features such as private elevators in each home. Ranging from one-bedroom-den configurations to expansive five-bedroom homes in the condo tower to fully furnished one-to four-bedroom residences and penthouses in the resort residences, the interiors combine elements of Miami Modern and Art Deco while taking inspiration from mid-century Brazilian modernism, known for its use of tropical woods, and French modernism. Each home will boast expansive private terraces and uninterrupted views of the Atlantic Ocean, lush parklands, and the Miami skyline—delivering a rare trifecta of ocean, park, and skyline views, a highly sought-after combination in South Florida.

"Our firm is known for designing buildings, but we were excited to focus our efforts at Ocean Terrace on the interior spaces,” said Paul Whalen, Partner at RAMSA. “We are creating our vision of an authentic Miami Beach life with references to the multiple modernisms that have together created the city we love."

Designed to perfectly balance discretion and connection are Ocean Terrace’s over 18,000 square feet of interior amenities. RAMSA envisioned a sculpted lobby with custom detailing, a state-of-the-art fitness center with ocean views, a curated library, and a tea room with wood-paneled walls, stone flooring, and custom antique-style millwork. Outdoors, approximately 50,000 square feet of amenity space includes a private residential porte-cochere and motor court, a resident-only sunrise lap pool, a sunset pool with cabanas and dining service, and a variety of open-air gathering spaces designed for both relaxation and social connection. Landscape design by ENEA further enhances the harmonious connection between the built environment and the native charm of North Beach.

"Ocean Terrace is a testament to our vision of enhancing North Beach with a blend of timeless architecture and modern living," said Alex Blavatnik, Co-Founder of Ocean Terrace Holdings. "From the curated amenities to the expansive oceanfront views, every detail has been thoughtfully considered to create an undisturbed residential experience that captures the essence of Miami Beach’s sophistication and natural beauty."

At the heart of Ocean Terrace lies a five-acre Raymond Jungles-designed park, a reimagined public space that blends nature, art and community. Inspired by iconic urban oases, the park features an art installation by acclaimed Parisian sculptor Prune Nourry. Now open, the park is the first part of Ocean Terrace to debut, leading a resurgence in the neighborhood and setting the tone for its transformation into a lively destination.

“With acres of beachfront, unobstructed ocean views, a world-class park, luxury retail and hospitality there is truly nothing comparable on Miami Beach," said Sandor Scher, Co-Founder of Ocean Terrace Holdings. “Our goal was to create an iconic residential development that is one-part private oasis and one-part impeccable placemaking. We set out to create a destination elevated to the highest standards while embracing its historic charm and sense of community.”

In addition to the retail, residential and hotel offerings, Ocean Terrace features an exclusive private Members Club, designed as a refined retreat for residents seeking a more intimate and personalized experience. With dedicated social, dining, and wellness spaces, the club provides a seamless extension of the Ocean Terrace atmosphere in a secluded and refined setting.

Sales for Ocean Terrace are now underway, with pricing starting at $6.3M and completion expected in 2029. Douglas Elliman Development Marketing is the exclusive sales and marketing team for the project.

Renderings via The Boundary

For more information about Ocean Terrace or to inquire about purchasing a unit please fill out the form below:

Transformative $2 Billion Midtown Park Wins City Approval, Ushering in New Era of Walkable Urban Living

Rosso Development, Midtown Development, and Proper Hospitality announce that the transformative $2 billion Midtown Park master plan—a multi-tower, two phase development introducing residences, offices, dining, retail, parks, and one of the most ambitious racquet and padel destinations in the U.S.—has officially received approval from the City of Miami’s Urban Development Review Board. This milestone clears the way for the first phase of the five-acre mixed-use community that will reshape Midtown into a vibrant, walkable hub connecting Wynwood and the Design District.

The approved master plan will bring 924 residential units, 60,000 square feet of office space, and over 120,000 square feet of designer retail, anchored by two major public plazas and a network of pedestrian-oriented streetscapes that prioritize walkability and public life. It will also introduce a world-class racquet and padel club featuring 8 courts, operated by ULTRA Padel. The project will rise across two 28-story towers, two 17-story towers, and a low-rise retail structure, with phased delivery and a temporary two-acre ULTRA Padel pop-up set to activate the site as construction begins.

“This is Miami’s most significant mixed-use redevelopment and will transform the future of urban living in the area,” said Carlos Rosso, Founder & CEO of Rosso Development. “We envisioned a landmark destination where culture, wellness, and open green space come together to enhance Midtown’s walkable character. This project will transform a long-vacant five-acre site into an activated social hub that seamlessly links the Design District, Midtown, and Wynwood.”

Midtown Park Residences by Proper, located at 3055 N Miami Ave, is the first building within the approved master plan. Designed by Arquitectonica with interiors by Meyer Davis Studio, the 28-story tower will deliver 288 Proper-branded residences, ranging from studios to three-bedroom homes, plus exclusive penthouses with private rooftop gardens and pools.

The tower’s 40,000 square feet of private amenities include a tropical pool deck with a signature restaurant and bar, private pickleball court, state-of-the-art fitness center, yoga and meditation garden, spa pool, co-working spaces, a kids club, and a communal vegetable garden designed by Naturalficial. Residents will also enjoy curated programming and cultural experiences through a Proper Culture Concierge, plus exclusive access to events across Proper Hospitality’s global portfolio, including the newly opened Shelborne by Proper on Miami Beach.

“Congratulations to Carlos Rosso, Proper, and the entire development team on receiving Urban Development Review Board approval for Midtown Park,” said Iris Escarrá, Co-Chair of Greenberg Traurig's Miami Land Use practice. “This marks a major milestone for Midtown Miami as the first phase of a visionary mixed-use plan that serves as a gateway between Wynwood and Midtown. Having a brand like Proper enter the market is a tremendous vote of confidence in the neighborhood’s continued evolution, solidifying its status as one of Miami’s most vibrant and design-forward districts.”

Midtown Park Residences by Proper is exclusively represented by Fortune Development Sales. Pricing starts in the lower $600,000s, with completion expected in 2028. For more information or to schedule a private appointment at the Midtown Park sales gallery located at 3171 NE 1st Ave, Miami, FL 33137

For more information about Midtown Park Residences by Proper or to inquire about purchasing a unit please fill out the form below:

META Development Launches Colette Residences, a Boutique Luxury Address Redefining South Brickell Living

META Development, the Miami-based firm known for its “Go Boutique” philosophy, has officially launched sales for Colette Residences, a new boutique luxury condominium in South Brickell. Partnering with the Eklund | Gomes Team at Douglas Elliman Development Marketing, META introduces an intimate residential concept that blends architectural sophistication with a serene, neighborhood-centric lifestyle.

Located in South Brickell—an area increasingly recognized as Miami’s next luxury residential frontier—Colette offers a refined alternative to the district’s high-rise energy. The five-story development features just 38 residences, including two signature penthouses, designed for those who value privacy, connection, and design integrity. Residences range from two to four bedrooms starting at 2,145 square feet, with pricing beginning at $3.3 million.

Designed by acclaimed Brazilian architecture studio OSPA, the building reflects a human-centered design ethos that seamlessly integrates indoor and outdoor living. This marks OSPA’s Miami debut and builds on META’s track record of architecturally distinct projects such as OPUS Coconut Grove.

“Colette represents the next evolution of our philosophy, curating residences that feel personal, tailored, and refined,” said Andrew Rasken, Founder and CEO of META Development. “In a district known for its high-rise energy, Colette is intentionally exclusive—crafted for those who value a calmer, more connected way of living without compromising on design or amenities.”

As part of its commitment to community impact, META Development will donate $10,000 for every residence sold to Friendship Circle of Miami, a nonprofit supporting children and young adults with special needs.

Despite its intimate scale, Colette offers a robust amenity program rivaling larger-scale towers. Indoor amenities span approximately 5,000 square feet, complemented by 7,000 square feet of outdoor spaces designed for relaxation and entertaining. Highlights include:

• A 50-foot swimming pool with private cabanas

• A 5,200-square-foot sun deck

• A wellness spa with jacuzzi, sauna, and steam room

• A screening room, children’s playroom, and meeting suite

• 24/7 valet service and covered parking for two or three cars per residence, with EV charging stations

• Private storage units for each homeowner

“Miami buyers are increasingly seeking boutique-scale projects that combine privacy with sophistication,” said Fredrik Eklund, co-founder of the Eklund | Gomes Team. “Colette delivers exactly that—an intimate collection of residences in one of the city’s most dynamic neighborhoods, blending global design with the lifestyle today’s buyers demand.”

Situated minutes from Brickell’s business core yet set within a peaceful, park-filled enclave, Colette residents enjoy walkable access to waterfront promenades, fine dining, and cultural destinations, all while maintaining the tranquility of a low-rise community. “We’re seeing interest from buyers who’ve outgrown the hustle of Brickell’s high-rise district,” explained Sales Director Pietro Belmonte. “They still want proximity to the city’s restaurants and nightlife, but they crave a calmer, more livable environment with a neighborhood feel.”

The Colette Sales Gallery will open on November 12, 2025, at 3390 Mary Street, Suite #124, Coconut Grove, FL 33133. Visitors can experience an immersive virtual tour, scale model, and full-size model kitchen and bath to preview the building’s design vision and lifestyle offering. Completion is slated for summer 2028. Ownership inquiries are now being accepted. For more information, fill out the form below.

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

Newgard Group and Two Roads Secure $513 Million in Construction Financing for One Brickell Riverfront in Miami

Newgard Group and Two Roads Development closed on $513 million in construction financing for their One Brickell Riverfront project in Miami’s financial district, making it one of the largest residential construction loans in the South Florida market this year. The development includes LOFTY Brickell and The Standard Residences, Brickell condominium towers where construction is months ahead of schedule on the Miami River.

An undisclosed private lender provided $370 million in senior financing while 3650 Capital originated a $143 million mezzanine loan.

Located at 99 SW Seventh St. next to Brickell City Centre, the master-planned development features two high-rise condominium towers rising from a shared podium. LOFTY Brickell is a 44-story tower with 362 residences, while The Standard Residences, Brickell will stand 46 stories and include 422 residences.

Construction is more than halfway complete, with both towers expected to deliver months ahead of their targeted August 2027 completion. G.T. McDonald is the project’s general contractor.

“This financing reinforces the market’s confidence in the strength of our vision for One Brickell Riverfront,” said Harvey Hernandez, CEO of Newgard Group. “Together with Two Roads, we are creating a destination that combines world-class design, unmatched amenities, and the flexibility today’s buyers demand.”

Hernandez continued: “3650 Capital has been instrumental to the success of this extraordinary project, having supported us since the initial acquisition of the property. We are thrilled to continue to grow our relationship with the firm, who has helped finance several of our new condominium developments in the past.”

“Brickell is one of the most dynamic urban neighborhoods in the country, and this project reflects our shared commitment to delivering best-in-class residential experiences,” said Taylor Collins, Managing Partner of Two Roads Development. “Securing this loan is another important milestone as we move quickly toward topping off early next year.”

Newgard and Two Roads formed a strategic partnership in November 2024 to transform one of Brickell’s last undeveloped riverfront sites into a vibrant, integrated community.

“One Brickell Riverfront is poised to bring highly desirable luxury condominiums with two distinct concepts to Miami’s financial district,” said Jonathan Roth, Co-Founder and Managing Partner of 3650 Capital. “The successful closing of this transaction speaks to 3650’s local market expertise, special servicing function and ability to help our borrowers from site assemblage through construction and sellout—core tenets of our capabilities that enable us to generate strong investor returns. The sponsors have robust track records of developing high-end residential projects, and we’re pleased to have helped them navigate the complexities of the project, which we believe is situated in one of the most attractive locations in all of Florida.”

Designed by Arquitectonica, LOFTY Brickell features studios and one- and two-bedroom residences and penthouses furnished by INC. Its 40,000 square feet of amenities include a private marina, resort-style pool deck, fitness center, spa, cigar lounge and co-working spaces. The highly acclaimed New York City-based restaurant AVRA Estiatorio will open a location on LOFTY’s ground floor, providing owners and guests with an elevated Coastal Greek dining experience with waterfront views.

A limited number of penthouse residences remain available for sale with prices ranging from $2.4 to $3.5 million. The building has proven to be very attractive to individuals seeking a 5-star lifestyle in Miami’s urban core. Another strong attraction is LOFTY’s flexible ownership model allowing owners the ability to rent out their units on their own terms.

The Standard Residences, Brickell, designed by Arquitectonica with interiors by GOOD.RICH, offers 422 homes including studios, one-bedrooms and two-bedrooms. Prices start in the mid $600s.

Multi-level amenities include a rooftop pool with beverage and towel service, The Standard Club Lounge and Café, co-working spaces, and a 10th-floor spa with Hammam, saunas and a cold plunge. Additional offerings include a fitness center, bowling alley and lounge, pet spa and screening room, along with signature dining on the ninth floor and a riverfront restaurant at street level. Sales are being led by ONE Sotheby’s International Realty.

For more information about LOFTY Brickell / The Standard Residences, Brickell or to inquire about purchasing a unit please fill out the form below:

Constellation Group Acquires Development Site Along U.S. 1 in Miami’s Coconut Grove for $12 Million

Constellation Group, a leading Miami-based real estate investment and development firm, announces the acquisition of a nearly 28,000-square-foot development site fronting U.S. 1/South Dixie Highway in Miami’s Coconut Grove neighborhood. The strategic acquisition gives Constellation Group high-visibility site near Metrorail station and Underline in one of Miami’s hottest neighborhoods.

The lot, located at 3000 SW 28 Street in Miami, is currently occupied by Farrey’s Lighting & Bath, a 100-year-old family-run business. Constellation purchased the site for $12 million from owner John Farrey. The closing took place on Oct. 1, 2025. Constellation Group, which is evaluating the highest and best use for the property with a focus on long-term value creation, will disclose plans for the site at a future date.

“This site represents a unique, long-term investment opportunity in one of Miami’s oldest, most dynamic commercial corridors,” said Eduardo Otaola, Managing Principal at Constellation Group. “This acquisition underscores our bullish perspective on both Coconut Grove and the role of transit-oriented development in Miami’s future.”

The 27,973-square-foot lot is located on the southbound side of U.S. 1, just steps from the Grove Central mixed-use center and the Coconut Grove Metrorail station. Farrey’s Lighting & Bath will continue operating at the property for up to 120 days under the terms of the agreement, allowing the company to manage the next phase of its transition.

The Coral Gables-based developer and its joint venture partner The Boschetti Group are currently building two boutique condo projects in Miami – Ella Miami Beach in Miami’s North Beach neighborhood, and Cora Merrick Park in the high-barrier-to-entry Coral Gables neighborhood – as well as an ultra-luxury boutique office project called 4225 Ponce, across from Shops at Merrick Park, that will complete later this year.

Vertical Construction Commences at Witkoff and PPG Development's The Residences at Shell Bay, One of Florida's Most Exclusive Club Destinations

Witkoff Group and PPG Development have announced that The Residences at Shell Bay, a new Auberge-branded condominium inside the private 150-acre, Mediterranean-inspired Miami enclave, has gone vertical, with the first few levels of the 20-story tower now complete. On track to open in 2027, the project is set to become South Florida’s most exclusive residential community, delivering a unique combination of club offerings, views and amenities. The Residences’ rapid construction progress signifies its strength in the marketplace as discerning luxury buyers increasingly prioritize momentum and also underscores the development team’s ambition.

“Shell Bay represents a generational opportunity—the first property of its kind,” said Alex Witkoff, CEO of Witkoff. “With our golf and racquet clubs already established among the world’s finest, we are proud to commence this next chapter of development as we go vertical on our residential tower and five-star Auberge resort.”

The Residences at Shell Bay is a 20-story tower by award-winning firm Kobi Karp, blending contemporary design with a timeless coastal sensibility. Its 108 private residences are framed by wraparound terraces and expansive glass, emphasizing light, views, and connection to the landscape. Interiors by AvroKO, the visionaries behind projects such as 1 Hotel Central Park, The Ritz-Carlton New York, NoMad, and The Londoner in Macau, feature bespoke detailing and a sophisticated material palette that elevate each home into a sanctuary of tranquility and refinement. G.T. McDonald Enterprises is serving as the general contractor for the project.

“Shell Bay is more than a collection of residences, it’s an entirely new standard for private club living in South Florida,” said Ari Pearl, Founder and CEO of PPG Development. “From the golf course to the marina to the bespoke amenities, every detail has been designed for a level of privacy and quality that simply doesn’t exist elsewhere in the market. We’re building something timeless.”

The project is seamlessly integrated into Shell Bay Club, an exclusive private members’ club already accessible to future residents. The club offers an unmatched lifestyle anchored by a championship 18-hole Greg Norman–designed golf course, a 12-acre practice facility, and a nine-hole Par 3 course.

Additional amenities include a Racquet Club with all four Grand Slam surfaces, as well as pickleball and padel courts, basketball courts, batting cages, and a children’s discovery playground. The property also features a 48-slip private marina with direct access to the Intracoastal Waterway, a private members’ clubhouse with an indoor-outdoor wellness spa, elevated event spaces, multiple dining venues, and more.

Shell Bay presents a rare opportunity to live within one of South Florida’s most exclusive communities, offering a range of one- to four-bedroom floor plans with sweeping views of the championship golf course and the Intracoastal Waterway. Designed with a refined approach to indoor-outdoor living, each residence features open-concept layouts that balance elegance with functionality. Residents will also enjoy access to a dedicated collection of private amenities within the building, thoughtfully curated to complement those of the Shell Bay Club and the future 60-key Auberge hotel and spa. Highlights include a world-class culinary program led by Michelin-starred Chef Julien Jouhannaud, offering in-residence dining and house sommelier services, as well as a resort-style pool, full-service medical day spa, and a fitness center with indoor and outdoor training areas for a personalized wellness experience.

The Residences at Shell Bay are slated for completion in 2027. Sales and marketing efforts for the project are handled exclusively by Douglas Elliman Development Marketing, with prices starting at $2 million.

Images via Aerial Photography, Inc. G.T. Construction & Development | Renderings via MARCH

For more information about The Residences at Shell Bay or to inquire about purchasing a unit please fill out the form below:

The Standard Residences, Brickell Reveals New Renderings of Penthouses

The Standard Residences, Brickell has revealed new renderings highlight the building’s 32 penthouses, including eight upper penthouses with 10-foot ceilings and panoramic skyline and water views. True to The Standard’s DNA, the design brings a laid-back, social energy to vertical living, paired with 34,000 square feet of amenities from a rooftop pool and bar to co-working spaces and a spa, with easy access to Miami’s Underline and Brickell City Center shopping.

The Standard Residences, Brickell - Being co-developed by Two Roads Development and  Newgard Development Group , in partnership with Standard Hotels, The Standard Residences, Brickell marks the second only standalone residence for the brand. Located at 690 SW 1st Avenue, the 46-story luxury development will offer 422 residences ranging in size from 500-square-foot studios to 1,100-square-foot two-bedroom residences.

Centrally located and situated in a secluded residential corner of Brickell by the river, the dynamic community offers shopping, dining, culture and entertainment given its proximity to Brickell City Centre. What’s more, residents will have a range of amenities including the 46th floor rooftop pool with beverage service, towel service and sun-care kiosk, private dining summer kitchens, the Standard Club Lounge and Café and a co-working lounge with meeting and Zoom rooms. In addition to the rooftop, residents will have access to the 10th floor amenities including a spa with sunset infinity plunge pools, hammam, saunas, cold plunge and more; along with a fitness room, yoga/Pilates/dance flex space, bowling alley and lounge, pet spa and screening room. A key pillar for the residents will be the exceptional food + beverage offering including a signature restaurant and bar on the 9th  floor and Avra Estiatorio on the ground floor.

For more information about The Standard Residences, Brickell or to inquire about purchasing a unit please fill out the form below: