Pacaso Launches Luxury Second Home Co-Ownership Platform In The Florida Keys

Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, has announced that it has expanded its service to the Florida Keys. The company has begun expanding its regional team in addition to an existing Miami and Fort Lauderdale-based team, and is working with a variety of local businesses to support its operations.

“From breathtaking ocean-side scenery to world-class fishing, rich culture and local cuisine, the Keys have long been a popular getaway destination full of endless island activity,'' said Pacaso CEO and Co-Founder, Austin Allison. “We’re thrilled to be expanding our South Florida presence into the Keys and empowering more second home buyers to own a slice of this coastal haven. Our service helps make more efficient use of available housing stock by creating new inventory, allowing a small group of families to become part of a community as unique as the Florida Keys through co-ownership of a luxury home.”

“Pacaso is leading the charge on fractional ownership, and I’ve witnessed firsthand their success in Miami and Fort Lauderdale and am excited they are expanding their business down to the Florida Keys,” said Josh Dotoli, a founding Compass broker in South Florida and leader of one of the top-producing sales teams in the Southeast Region. “I loved the idea of owning part of a Pacaso home in Islamorada so much that I bought a share myself. The property is a new waterfront home with a pool and access to a private beach just 100 miles from Miami. It's a fun boat trip for my family down to the Keys, and we will be able to pull right up to the dock of our Pacaso. We can't wait to create memories at the house, and we have Pacaso to thank for making this dream of a Keys home a reality for us and many others in the near future.”

Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% referral commission in addition to 500 RSUs of Pacaso stock as a referral equity bonus. Agents in South Florida who are interested in working with Pacaso can learn more on the company’s website.

Pacaso’s first listing in the Keys is a 5-bedroom, 3.5 bathroom coastal-inspired home nestled along a canal in White Marlin Beach. The Islamorada home spans 2,900 SF and features open-concept living spaces with soaring ceilings, oversized windows and glass doors that seamlessly connect the interiors to the pool, swaying palms and waterway beyond. The main floor primary bedroom includes a custom closet and opens to the pool and patio. The main bedroom upstairs has a large closet and a Jack & Jill bath leading to another guest bedroom. With two additional bedrooms, the home easily accommodates family and friends. The home comes fully furnished and professionally decorated.

1/8 ownership of the home is asking $444,000 with the whole home price at $2,790,000.

Tap 42 Continues Rapid Growth With 9th South Florida Location In Kendall

Coming off their 8th South Florida location in Davie in March of 2021 the Tapco team is opening the 9th South Florida Tap 42 Craft Kitchen & Bar location today January 5th, 2022 in Kendall. The Tap 42 Kendall outpost is located in the Palms at Town & Country Center at Kendall Drive & 117th Avenue, taking over the former Cadillac Ranch space. The local restauranteurs have continued to focus on regional, organic growth as a company, and are proud to continue to serve their South Florida community.

"Kendall has always been a market that we have felt was the perfect fit for Tap 42. Our loyal guests have been asking for us to open in Kendall for years, specifically in the Palms at Town & Country, which we feel is the premier center in Southwest Miami-Dade. When the opportunity came around to have our own, freestanding building with a huge patio overlooking the lake, it was a “no-brainer”. We look forward to continuing our expansion throughout South Florida, and hopefully becoming the local restaurant/bar staple, and favorite for all of Southwest Miami Dade and beyond," explained Alex Rudolph, Partner and VP of Development at Tapco.

The new Kendall location will be the brand's largest location to date at 7,850 square feet, with a sweeping covered patio area overlooking the Palms Town & Country lake. As always, Tap 42 will feature elevated gastropub fare under the culinary direction of Executive Chef, Andrew Balick, handcrafted cocktails, weekly specials, and their signature Bottomless Brunch every weekend.

Tap 42’s Kendall will be opening Wednesday, January, 5th, at 11:30AM for Lunch and Dinner.

Chris Bosh's Former North Bay Road Estate Sells To Crypto Industry CEO Of MoonPay For $38 Million

Ivan Soto-Wright, the co-founder and CEO of crypto payment system MoonPay, has acquired Miami Heat icon Chris Bosh’s former Miami Beach estate on North Bay Road for $38 million. MoonPay is a London-based online payment system for cryptocurrencies which just recently MoonPay hit a $3.4 billion valuation following a new $555 million funding round led by Tiger Global Management and Coatue. Albert Justo and Mirce Curkoski with The Waterfront Team at One Sotheby’s International Realty were the listing agents and Dina Goldentayer of Douglas Elliman represented the buyer. No comment has been made about the method and terms of transaction.

Bosh sold the same home in January 2021 for $14.4 million to AquaBlue Group, led by Philippe Harari, who would renovate the home before relisting it for $42 million and selling to Soto-Wright for $38 million. The massive price increase reflects the strong demand for waterfront real estate in Miami.

Upon arrival into the lushly landscaped property, guests will be greeted by a living green wall and a garden courtyard area with water installations that highlight the home's perimeter. The gut-renovated home features seven bedrooms and eight bathrooms, with wood and stone finishes throughout. The double-height great room is surrounded in glass, highlighting the captivating views of the bay and garden. Each corner of the home is intentionally and perfectly positioned to flow seamlessly together with high-end finishes from custom millwork to Italian marble slabs.

The grand master suite offers large closets, oversized bathroom with tub and dual sinks, morning kitchen and of course, stunning views. The kitchen features a custom Italian expansive chef’s kitchen with a huge island. The outdoors offers a mosaic tile infinity pool, a detached outdoor kitchen and cabana bathroom plus a separate guest quarters. The fully automated smart home also features a commercial-grade elevator and more.

Celebrity neighbors include Cindy Crawford and Rande Gerber, Karlie Kloss and Joshua Kushner, with former star owners including Dwyane Wade and Gabrielle Union. The home is seeking an overall record, but still lower price per square foot ($3,500) when compared to other recent sales like the sale of Phil Collins and Jennifer Lopez’s former home at 5800 North Bay Road which sold for $39 million at about $4,000 per square foot.

Imagery via ONE Sotheby’s International Real Estate

Jake Paul and Logan Paul Revealed As Purchasers Behind E11EVEN Residences Beyond Penthouses Asking $20.5 Million Each

Jake and Logan Paul have been revealed as the purchasers of two penthouses atop the planned E11EVEN Residences Beyond condo tower in Downtown Miami. Jake Paul and Logan Paul are social media and YouTube personalities who turned into professional boxers. In 2021 Logan Paul faced boxing legend Floyd Mayweather Jr. in an exhibition match. The penthouses are 3 bedroom, 3.5 bathroom residences that are currently asking $20.5 million each. The penthouses include an outdoor kitchen and plunge pool. It was not revealed how much each paid. Other celebrity buyers include WNBA star Candace Parker, ESPN co-host Sage Steele and MMA fighter Luke Rockhold.

E11EVEN Residences Beyond is being developed by E11EVEN Partners and PMG. Rising 65 stories, E11EVEN Residences Beyond offers a highly exclusive, "members only" experience designed to cater to high profile buyers who seek the VIP, entertainment-driven lifestyle of E11EVEN Hotel & Residences and the privacy of a private condominium. Units range from 318-square-foot studios to 993-square-foot two-bedrooms, as well as a presidential collection ranging from 1,167 to 2,762 square feet and penthouses starting at 2,213 square feet, totaling 461 luxury residences.

Designed by Sieger Suarez Architects, E11EVEN Residences Beyond boasts private amenities available only to residents in the tower. They include a helipad, a resort-like sun lounge deck with 93-foot pool, a state-of-the-art fitness center and fully staffed executive office suites. E11EVEN Residences Beyond buyers will also have access to the first tower’s amenities, including the Chopra Spa & Studio, day club, beach club, gourmet food hall, and sports lounge. A private, access-controlled walkway bridge will provide residents direct entry. Owners will also enjoy exclusive access to E11EVEN Residences Beyond Members Social Club.

Starting in the mid $300,000, or the equivalent cryptocurrency rate, all interiors and residences are fully furnished and finished by award-winning design firm AvroKO. Each features custom imported ITALKRAFT millwork and cabinetry, including fully-integrated kitchens and bathrooms with custom countertops and backsplashes and fully built-out closets in the master bedrooms featuring all shelving and drawers pre-installed for absolute convenience. Subzero and Wolf appliances and finishes and flooring selections curated by AvroKO ensure that each residence offers supreme form and function. PMG's smart home technology system will offer unprecedented efficiency through seamless personalization with the touch of a button that includes integrated audio, video and lighting systems.

Penthouse and presidential collection residences feature expansive outdoor terraces with top-level audio systems, towering 8-foot interior doors, upgraded custom ITALKRAFT kitchens with marble countertops and Sub-Zero wine storage, a midnight bar in each master suite, motorized roller shades, and expansive views of the Miami skyline, Biscayne Bay and Atlantic Ocean. Owners of these exclusive units enjoy access to the building through a private lobby entrance.

Taking luxury and style to even greater heights, the penthouses feature fully finished & custom interior layouts to be selected under one-on-one consultation with PMG’s in-house interior architectural design team and include marble flooring throughout the interiors and floor-to-ceiling impact-resistant windows.

PMG Residential is the sales team for the project, led by Raquel Kaufman alongside team members Pablo Rodriguez, Reiner Perez, Adam Freeman, Liza Hernandez and Lauren Negrin.

The first phase of the project comprises 375 turnkey residences. Each unit comes equipped with fully-integrated “smart building” features and 24/11-style amenities, including celebrity-chef dining experiences throughout the property, a casino-style sports lounge, an E11EVEN Members rooftop experience, and a world-class Chopra Spa & Studio wellness center curated by Dr. Deepak Chopra. E11EVEN Hotel & Residences Miami is a lifestyle experience and destination, the first of its kind in the United States. Completion is expected for the first tower in 2023.

E11EVEN Partners is led by Michael Simkins, Marc Roberts, and Dennis DeGori, who own the neighboring E11EVEN Nightclub. PMG is led by Managing Partners Ryan Shear and Kevin Maloney.

E11EVEN Hotel & Residences and E11EVEN Residences Beyond are two of the first pre-construction condos to accept cryptocurrency as a deposit through a first-time-ever real estate partnership with FTX, the world’s leading cryptocurrency exchange.

E11EVEN Hotel & Residences is located at 29 NE 11th Street and E11EVEN Residences Beyond will be located on the same block at 90 NE 11th Street.

For more information about E11EVEN Residences Beyond or E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Related Group and Merrimac Ventures Joint Venture Acquires Miami Worldcenter Development Site For $12 Million

A joint venture between Related Group and Dev Motwani’s Merrimac Ventures has acquired a development lot in Miami Worldcenter for $12 million from Miami Worldcenter Associates. The .6 acre lot is located at 601 North Miami Avenue and 25 Northeast Sixth Street and is currently used as a surface parking lot. The site is one of the last remaining parcels available at Miami Worldcenter.

“Related Group and Merrimac Ventures are proud to align for the first time on a transformative project within Miami Worldcenter. More details will be shared in the coming weeks.” Said the development partnership in a statement.

Miami Worldcenter Associates is led by Art Falcone and Dev Motwani’s brother Nitin Motwani. The $4 billion, 27-acre mixed-use project in Downtown Miami is currently under development spanning 10 city blocks. Miami Worldcenter will feature a diverse mix of residential, commercial and hospitality uses complemented by approximately 300,000 square feet of retail, restaurant and entertainment space. These include two completed residential buildings--the 60-story PARAMOUNT Miami Worldcenter condominium and the 43-story Caoba luxury apartment tower. Approximately 150,000 square feet of retail has been completed for tenant build-outs, and another 130,000 square feet is currently under construction and nearing delivery. Construction is nearing completion at ZOM’s 43-story Bezel Miami Worldcenter residential tower and at the 351-room citizenM hotel, both of which are expected to open later this year.

Complementing Miami Worldcenter’s open-air retail will be World Square, a 20,000-square-foot public plaza and park. Designed as a central gathering place and outdoor event space, World Square will serve as the heartbeat of the city-within-a-city featuring an abundance of shade trees, works of art by local and international artists, and oversized, pedestrian-friendly sidewalks lined with dining, entertainment, and retail concepts.

Miami Worldcenter is within walking distance of Museum Park, home to Pérez Art Museum Miami and the Frost Museum of Science; FTX Arena; the Adrienne Arsht Center for the Performing Arts; and Miami Dade College’s Downtown Miami campus. It is also adjacent to Brightline’s MiamiCentral station, which will soon offer direct train service to Fort Lauderdale, West Palm Beach and Orlando, together with access to TriRail, the Metromover and the Metrorail – making Miami Worldcenter the largest and most connected transit-oriented development in Florida.

Moishe Mana Closes On Five Properties In Downtown Miami's Flagler District For $59.62 Million

Moishe Mana is steaming forward on plans for Downtown Miami’s Flagler District after closing on five properties in the past week for $59.62 million. Construction is progressing at several other of his properties in the neighborhood as the demand for office, retail and entertainment spaces in Miami increases. Moishe Mana first acquired three buildings at 100 N Miami Avenue, 173 NE 1st Street and 124 NE 2nd Avenue for $25,375,000. Together the properties total 50,197 sq. ft., situated on 28,750 sq. ft. of land. One week later Mana acquired the Shoreland Arcade building and 1 West Flagler following the acquisition of another three buildings in the neighborhood just last week. The Shoreland Arcade is located at 120 NE 1st Street. and spans 89,994 sq. ft., situated on a 37,994 sq. ft. lot of land. It was acquired for $29.5MM and 1 West Flagler, a 7,900 sq. ft. building was acquired for $4,750,000.

“The Flagler District is the only destination fully equipped to respond to the sky-rocketing demand for office, retail and entertainment space. We’re moving forward with development and approaching completion of key assemblages, adding historic pieces that are central for carrying out our vision for this neighborhood,” said Moishe Mana.

Colliers Urban Core Division Executive Managing Director Mika Mattingly and Senior Associate Cecilia Estevez represented both the buyers and sellers in each off-market transaction. The sellers of the first three building assemblage were SG&S Inc and Flexini Investments Inc. and the second properties were sold by Broks Center LTD.

“Transformative developments taking shape in downtown Miami, along with organic growth of quality retail and restaurants in the area, have resulted in a migration of people seeking a true work, live, play environment,” said Mattingly. “After years of being ignored by the investment community, everyone is rushing to own a piece of downtown Miami, fueling an insatiable desire for real estate in this submarket. Transactions like this are reducing the inventory available for investment, with very few opportunities of this size and scale remaining in downtown.”

Moishe Mana, CEO of Mana Common, is the largest private landowner in Miami with a significant assemblage of over 60 properties spanning more than 1.3 million square feet in downtown Miami’s Flagler District. Under his real estate division, Mana Properties, the visionary entrepreneur has begun construction on several sites in downtown Miami including at the Nikola Tesla Innovation Hub, the first building on track for completion.

“The Flagler District is on its way to becoming the best neighborhood in America,” said Moishe Mana. “We are turning the downtown core into Miami's economic engine. What the people of Miami really need are jobs-- high-paying, long-term, wealth-creating jobs, so those that built Miami into a global destination can benefit from its prosperity.”

As downtown Miami continues to flourish with the return of global capital and major developments underway, Moishe Mana intends to transform the neighborhood into a global hub for tech and innovation, connecting North and Latin American markets. The vision comes from a thoughtful intent to support commercial development in the downtown core as the demand for office and retail spaces in Miami increases.

‘The sleeping giant that was Downtown Miami is finally roaring awake after a hundred years of slumber,” said Mika Mattingly. “Downtown is evolving organically into the coolest place in Miami. What other location has those exquisite historical buildings?”

Douglas Elliman Lists On The NYSE Under Ticker Symbol 'DOUG'

Douglas Elliman Inc. (NYSE: DOUG) (“Douglas Elliman”) has completed its previously announced spin-off from Vector Group Ltd. (NYSE: VGR). On Thursday December 30, 2021 Douglas Elliman officially began trading on the New York Stock Exchange under the symbol “DOUG” and has been added to the S&P SmallCap 600®.

Douglas Elliman Realty, LLC is one of the largest residential brokerage companies in the New York metropolitan area and the sixth largest in the U.S. Douglas Elliman has an established and growing presence in most major luxury markets – primarily international finance and technology hubs that are densely populated and offer housing inventory at premium pricing points. Douglas Elliman’s attractive financial profile includes a strong balance sheet with $200 million of net cash and significant operating leverage, supported by a track record of impressive revenue growth, disciplined expense management led by seasoned industry executives, healthy margins and limited capital expenditures.

As a standalone company, Douglas Elliman will leverage these core competencies and differentiated market focus to pursue profitable growth opportunities through market expansion, retention and recruitment of best-in-class talent and acquisitions and acqui-hires. Douglas Elliman will also source, use and invest in early-stage, disruptive property technology (“PropTech”) solutions and companies that easily integrate into its technology foundation, allowing Douglas Elliman to remain flexible, nimble and asset-light while providing cutting-edge solutions that improve client, customer and agent experience.

“Today marks an exciting new chapter for Douglas Elliman,” said Howard M. Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “As a standalone company, Douglas Elliman will leverage its differentiated approach, portfolio of innovative technology services and a best-in-class team of employees and agents to capitalize on growth opportunities in the highly attractive U.S. residential real estate market. We believe there is a bright future ahead for our company as a standalone entity.”

“We are thrilled that Douglas Elliman has reached this milestone – one that would not be possible without the hard work and dedication of our incredible agents and employees,” said Scott Durkin, Chief Executive Officer of Douglas Elliman Realty, LLC. “As a standalone company, we look forward to building on Douglas Elliman’s leading luxury brand and longstanding tradition of excellence, while continuing to drive long-term value for stockholders.”

Mast Capital Acquires Prime 2.8-Acre Site In Brickell To Develop 3-Tower Luxury Mixed-Use Project

Miami-based developer Mast Capital closed on the 2.8-acre site located at 1420 S Miami Ave for $103 million. The site is located on the southern edge of the Brickell Central Business District market and represents one of the last remaining raw parcels of land available to build a high-rise development of scale in the area. Mast Capital partnered with private equity real estate firm Rockpoint for acquisition of the multifamily component, the third joint venture between the two firms in 2021.

Mast Capital submitted site plans for a master-development totaling 2.6 million square feet across three residential towers, including an 80-story luxury condominium tower with 400 residences, and two multifamily towers, 50 stories and 60 stories each, with a combined 850 luxury apartments. The condominium tower will be affiliated with a luxury lifestyle brand with plans to provide resort-style amenities, including food and beverage services exclusively for resident use. The development will also include 1,650 parking spaces and ground-floor retail on South Miami Ave.

The site has been highly anticipated and coveted for development dating back 15 years. In the mid-2000s, the site was planned as “Capital at Brickell”, a two-tower project consisting of residential, office, hotel, and retail uses. Foundation work began in 2007, but the project was abandoned during the Great Recession. In 2014, a China-based corporation acquired the site and received plan approvals for a project that included two towers spanning 75- and 73-stories. However, this development was also shelved after years of uncertainty regarding the future of the project. Mast Capital and the seller agreed to an off-market purchase of the site earlier this year.

“We are excited by the potential to create a thoughtful, iconic project that will define and anchor south Brickell. This project will transform the character of the neighborhood and it is a great privilege to be given this rare opportunity,” said Camilo Miguel, Jr., CEO and founder of Mast Capital. “We believe Brickell will continue to outperform from the ongoing demographic shift. Our vision is to offer a differentiated product that stands out from the current offerings and appeals to a wide variety of residents.”

Brickell has achieved robust rent growth and outpaced the market at large in 2021. Since Q1 2021, rents for condos built in Brickell over the last five years increased over 30% on the back of strong in-migration to Miami. While the influx of new residents to the area seeking a cosmopolitan lifestyle, warm weather, and favorable tax environment is not new, this trend has dramatically accelerated since mid-2020.

”While South Florida was seeing strong growth prior to the pandemic, it became evident to us early on that the pandemic would result in further tailwinds for South Florida. We worked hard to identify attractive investment opportunities and as a result have had a very active 18 months. The closing of the Brickell site is the culmination of a very exciting 2021 for Mast Capital,” added Camilo Miguel, Jr.

Black Lion Investment Group Acquires Commercial Units In South of Fifth's Marea Featuring RED Steakhouse And KoSushi Spaces

Black Lion Investment Group (“Black Lion”) has acquired an entire block of commercial condo units at the base of the iconic Marea building in the heart of Miami Beach’s South of Fifth (“SoFi”) neighborhood. The six-story building at 801 South Pointe Drive was originally developed by the famed Related Group and features 30 luxury residential condos atop the commercial units. Black Lion purchased the 19,100 square feet of premium commercial real estate space for $19,000,000 on December 17, 2021. President and Chief Executive Officer, Fabio Faerman, and Executive Director, Sebastian Faerman, of FA Commercial facilitated the transaction.

Existing tenants include RED Steakhouse, a Miami Beach mainstay for over a decade, and KoSushi, the establishment that debuted the Michelin-starred restaurant in the United States after being awarded the distinction in Brazil upon its opening in 2015. Black Lion has the intent of introducing additional flagship restaurants to the property.

“The entire Miami market has rapidly evolved into the epicenter for fine dining and high-end nightlife experiences over the last several years,” said Robert Rivani, president of Black Lion. “Our objective for the investment in Marea is to invite more fine dining restaurants to this culinary and cultural mecca to further elevate Miami’s reputation on a global scale. We have multiple world-renowned food and beverage concepts in the works and anticipate that even more international and domestic visitors will be attracted not only to our restaurants but to the vibrancy of this burgeoning market overall.”

Other notable restaurants in the SoFi neighborhood include Joe's Stone Crab, Smith & Wollensky, Carbone, Papi Steak, and Estiatorio Milos. Celebrity chef Gordon Ramsey recently announced that he'll be opening his first-ever Miami restaurant, Lucky Cat, just steps from the Marea building.

MV Real Estate Holdings and Driftwood Capital Announce JV On $185 Million Riverside Wharf Featuring Dream Hotel On Miami River

Miami Developer Alex Mantecon of MV Real Estate Holdings (MVREH), in conjunction with Driftwood Capital, one of the country’s leading hospitality sponsors, has revealed plans for the Riverside Wharf, a hospitality-driven entertainment complex situated along the historic Miami River that will push the limits of what is known today as hospitality in Miami. The 200,000-square-foot, two-tower development will offer a fully immersive Miami experience anchored by the highly amenitized 165-key Dream Miami luxury hotel. The complex will feature the rebirth and expansion of The Wharf Miami, 16,000 square feet of signature restaurants, a 12,000-square-foot event hall, a world-class 30,000-square-foot nightclub and rooftop dayclub, and a private deep water marina capable of accommodating megayachts.

“Riverside Wharf will be a destination for entertainment unlike any Miami has seen, bringing together world-class entertainment and hospitality offerings to a unique waterfront destination with direct Intracoastal access to the ocean,” said Mantecon. “We are excited to finally bring to fruition the dream and vision Miami has had for its riverfront entertainment district which until now has historically sat vacant and underutilized.”

Added Carlos Rodriguez Jr., COO of Driftwood Capital, “As Miami continues to attract new capital, new world-class tech and financial firms, and new talent from other parts of the country, the demand for one-of-a-kind destinations combining elements of luxury, nature, outdoor adventure and unique dining experiences is poised to escalate rapidly. We’re pleased to be able to contribute several decades of hospitality development and operational expertise to this truly unique development which will enhance Miami’s skyline and elevate the entire Miami River District.”

“Miami is a top international destination for world-class hospitality and entertainment, and continues to set the bar with exciting new experiences for travelers unlike anything else in the world,” said Mayor of Miami Francis Suarez. “Dream Miami at Riverside Wharf will be an unparalleled development in the heart of Miami for visitors and locals alike, and I couldn't be more excited to see it launch."

At 10 stories, the $185 million mixed-use development will rise on the current site of The Wharf Miami and the abutting vacant parcel. The 1.5-acre assemblage is the culmination of the vision established in the City of Miami’s 2016 voter referendum approval, obtained by MVREH, for the development of food and beverage establishments along the waterfront. The roughly 600 linear feet of water frontage will provide for the continuity of the publicly accessible Riverwalk, seamlessly connecting Riverside Wharf between Downtown Miami and Brickell. Riverside Wharf will take on the benefits of MVREH and Driftwood Capital’s best-in-class partners, including Dream Hotel Group’s growing success in highly amenitized luxury food and beverage oriented hotel properties, and Breakwater Hospitality Group’s ongoing success of high-volume entertainment venues.

“There is a natural synergy between Dream Hotel Group and the city of Miami,” said Dream Hotel Group CEO Jay Stein. “Our leading lifestyle brand Dream Hotels continues to expand quickly, just like Miami, offering international hospitality, vibrant entertainment and one-of-a-kind experiences sought by local residents, as well as business travelers and pleasure seekers from across the globe. We are thrilled to take part in this extraordinary project and can’t wait to open our doors in 2025.”

Riverside Wharf will transform the storied Miami River district while paying homage to the historic fishing culture of the neighborhood by celebrating the area’s beloved Garcia’s Fish Market with a pop-up seafood market on the grounds, where locals can get the freshest catch daily.

The development is slated to break ground in 2022 and be completed by 2025. It is designed by Jon Cardello of Cube3 architects with landscape design by Savino-Miller Design Studio.