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First large-scale Downtown Miami Opportunity Zone development begins leasing

by R. Michael Brown

First large-scale Downtown Miami Opportunity Zone development begins leasing

Soleste Grand Central has launched leasing sales and is scheduled to complete development by the end of 2021.

Located at 218 NW 8th Street in Miami’s Overtown neighborhood and steps from Miami Central Station, the 360-unit, 18-story Class-A multifamily development offers studios to three-bedroom residences ranging from 400 to 1,085 square feet.

“Our goal for Soleste Grand Central was to add a heightened vitality to downtown Miami, more specifically Overtown, contributing to the area’s shift in becoming a 24-7, walkable, mixed-use community,” said Robert Suris, managing principal, The Estate Companies in a press release.

The development has a leasing team run by RKW Residential; but, they do offer commission to tenant brokers so agents are welcome. Prices for Soleste Grand Central begin in the $1,500s per month for a studio.

Soleste Grand Central Interior

Soleste Grand Central Interior 📸: Images Courtesy of Cavmares Martin

Designed by Florida-based architectural and engineering firm Caymares Martin, the 230,430-square-foot project features wood style porcelain flooring and modern kitchens with stainless steel appliances, chef’s islands, custom cabinets, quartz countertops and subway backsplashes. Residences have master en-suites and private balconies, in-unit washer/dryer, walk-in closets, keyless electronic door entry and more.

Co-developers on the project are PTM Partners (PTM), a real estate investment and development firm with a focus on Qualified Opportunity Zones, and The Estate Companies (EIG), a leading developer of multifamily projects throughout South Florida.

“We are confident Soleste Grand Central will exceed the expectations of the members of the immediately surrounding community while attracting the newcomers as part of South Florida’s steady population surge,” said Michael Tillman, CEO of PTM. “If COVID-19 taught us anything in the real estate industry, it’s that the need for accessible housing options that provide premium amenities, especially large outdoor spaces, are valued at a premium by the resident.”

Grand Central offers approximately 34,000 square feet of outdoor and indoor amenity space, including:

• 440 parking spaces, including car charging stations
• Resort-style pool with spa, sun deck and private cabanas
• Rooftop lounge with bar, BBQ grills, large-screen TVs, life-size chess, etc.
• State-of-the-art fully equipped fitness center with high-tech cardio equipment and free weights
• Yoga and spin studio
• Spa with steam room, sauna and massage therapy services
• Game room with billiards, poker, table tennis and air hockey
• Indoor children’s playroom
• Dog spa and “bark park”
• Resident lounge with cyber café
• Library with conference facilities and business center
• Flexible office spaces for rent
• Dry-cleaning services
• Livly mobile app for residents

Soleste is near entertainment venues and cultural institutions such as the American Airlines Arena, James L. Knight Center and Pérez Art Museum Miami, as well as parks like Bayfront Park and Maurice A. Ferré Park.

As a transit-oriented development, Soleste Grand Central is situated steps from the Miami Central Brightline Station – a new 11-acre complex that will offer shopping, dining and the city’s first food hall. The project is also near the Metrorail, Metromover, bus lines and soon, the Tri-Rail commuter rail.

The Downtown/Overtown area has been steadily growing its mix of residential, hotel and retail offerings, including the opening of nationally acclaimed Red Rooster two blocks away, the celebrity chef Marcus Samuelsson’s first domestic outpost outside of Harlem in New York City. Other notable neighboring developments include JW Marriott Marquis, Miami Worldcenter Convention Center and CitizenM, a 348-key micro hotel.

For more information about Soleste, or to schedule a virtual or in-person tour, visit the website at www.solestegrandcentral.com

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