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Downtown Miami Condo Towers Begin Construction

The soldout property will include 606 turn-key residences, free of rental restrictions. 

Developers Merrimac Ventures and Aria Development Group have begun construction on 600 Miami Worldcenter, a 32-story residential tower located within Miami Worldcenter’s 27-acre mixed-use development in Downtown Miami. The building will consist of 606 fully furnished units with no restrictions on short-term rentals. The project, which was entirely sold before breaking ground, is being funded by a $95 million construction loan from Banco Inbursa. The loan was secured earlier this year and the groundbreaking occurred last month. The tower is expected to be completed in 2026.

The short-term “turn-key” rental model of 600 Miami Worldcenter has garnered a positive response from buyers. All of the units in the development have already been pre-sold to residents, mainly from the U.S., Colombia, Turkey, and Argentina. The residences available in the development will vary 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, manages sales and marketing for 600 Miami Worldcenter.

“As a growing cosmopolitan city, Miami is seeing incredible demand for residences with no rental restrictions, with the city among the top ten-highest markets in the U.S. for short-term rental average daily rates,” Nitin Motwani says, Managing Partner of Merrimac Ventures. “We are thrilled to break ground on 600 Miami Worldcenter, providing flexible ownership and living options for a new generation of buyers coming to South Florida.”

With a budget of $6 billion, Miami Worldcenter is the second largest urban development in the U.S. after Hudson Yards. This ‘city within a city’ features a variety of uses, including residential, commercial, and hospitality, along with approximately 300,000 square feet of retail, restaurant, and entertainment space. 600 Miami Worldcenter is the latest addition to this impressive development, offering a new option for those looking for a residential space in the heart of Miami.

“We are thrilled to continue growing our residential footprint at the heart of Miami’s most dynamic neighborhood. 600 Miami Worldcenter clearly illustrates the alignment of supply and demand for the right product at the right price and in the right location,” David Arditi says, Managing Partner of Aria Development Group. 

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.