The Rider Residences, a rock ‘n’ roll-themed condominium project in Wynwood, has started converting its reservation agreements to hard contracts.  

Contracts are being mailed out to the project’s buyers, most of whom come from Miami, Latin America and Europe. The project’s sales model follows a buyer-deposit structure where payments are staggered, requiring 20% down at contract and 10% down in two remaining increments at varying stages of construction, with the balance due at closing. 

The 12-story development, which is being developed by a joint venture between Miami-based real estate developers Rilea Group and Ciprés at 94 NE 29th St., will feature 146 furnished residences. Unit prices range from the $500,000s to $1.8 million and come in studio, one-, two- and three-bedroom floor plans ranging from 386 to1,612 square feet. 

Construction is expected to begin later this year as initial site work gets underway. A formal groundbreaking is expected to take place early next year, with delivery slated for late 2026. Rilea Group is also developing an adjacent property, Mohawk at Wynwood, a 12-story, 300-apartment community at 56 NE 29th St. 

“The overwhelming excitement we’ve received from buyers at The Rider is a testament to the unique appeal of a boutique building, which is truly one-of-a-kind, in one of Miami’s most desirable and exciting new areas,” Rilea President Diego Ojeda said in a press release. “Aside from the love for the project itself, we’re seeing buyers are also attracted to our proximity to Wynwood’s upcoming high-speed rail station, which will give future residents and guests the freedom to access other destinations throughout South Florida, like Palm Beach, Orlando and beyond.”