A joint venture between Merrimac Ventures and Aria Development Group is set to break ground on 600 Miami Worldcenter, a 32-story condominium tower in the 27-acre Miami Worldcenter mixed-use development.
The project’s 606 furnished units, which have no short-term-rental restrictions, are already sold out, mostly to buyers from the U.S., Colombia, Turkey and Argentina. Residences will range from 407-square-foot studios to 830-square-foot, two-bedroom units, with prices starting in the $400,000s.
OneWorld Properties, led by CEO Peggy Olin, is managing sales and marketing for the tower, which is located at 600 NE 1st Ave. Construction is expected to wrap up in 2026.
Miami Worldcenter is a $6 billion mixed-use development in Downtown Miami. It is the second-largest urban development in the U.S. after New York’s Hudson Yards. It occupies 10 city blocks and is adjacent to Brightline’s MiamiCentral station, which also offers access to Tri-Rail, the Metromover and the Metrorail, making it the largest and most connected transit-oriented development in Florida, according to a release.
The residences, to be designed by The Design Agency, will have floor-to-ceiling windows, balconies, custom Italian cabinetry and countertops, integrated paneled refrigerators/freezers, in-unit washers and dryers and fully built-out closets.
Community amenities will include a summer kitchen, rooftop swimming pool with resort seating, fitness center with an outdoor private training area by Homage Fitness, co-working space, resident lounge and entertaining space.
Development is being funded with a $95 million construction loan, recently obtained from Banco Inbursa. Newmark’s Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Daniel Matz and Holden Witkoff, along with the law firm of Bilzin Sumberg LLP’s Joseph Hernandez, Salomé Bascuñan and Anthony De Yurre, represented the developers in the transaction.
“600 Miami Worldcenter has been one of our most anticipated and fastest-selling developments, which was appealing for our lenders at Banco Inbursa,” Merrimac Managing Partner Nitin Motwani said in a press release. “Heightened demand for the project’s ideal location and fully furnished turn-key residences are just some components that will make it a standout addition to our city-within-a-city at Miami Worldcenter.”
Besides 600 Miami Worldcenter, Merrimac is developing two more residential towers within Miami Worldcenter: The Crosby, a sold-out, 450-unit condo tower with no rental restrictions in partnership with Related Group, and the second phase of Caoba, a 40-story tower with 420 apartments.