Miami Homeownership Ranks Among Lowest in U.S., Redfin Study Finds

When people talk about housing affordability in Miami, the challenge is often framed in terms of rent being too high. However, a recent Redfin study reveals something more striking: Miami ranks relatively low among U.S. metropolitan areas in homeownership rates. In some ways, the city is more of a “renters’ town” than many might expect.

Miami’s Homeownership Ranking in 2025

Redfin’s Q2 2025 homeownership study paints a clear picture: Miami’s homeownership rate is just 57.5%, meaning more than 42% of households rent. By comparison, the national homeownership rate stands at 65%.

Among the 75 largest U.S. metro areas studied, Miami ranks near the bottom. While not the lowest, Miami is grouped with other expensive, high-demand coastal cities where homeownership is out of reach for many residents.

Cities With Even Lower Homeownership Than Miami

Despite Miami’s affordability challenges, several major metros report even lower rates of homeownership:

• Los Angeles, CA – 46.4%
• New York, NY – 49.4%
• San Francisco, CA – 54.0%
• San Jose, CA – 53.9%

Among these, Los Angeles has the lowest homeownership rate of any major U.S. city, with fewer than half of households owning their home.

Why Homeownership Is So Difficult in Miami

Miami’s relatively low homeownership rate is the result of several overlapping pressures:

• High Home Prices

The national median home price reached $443,867 in July 2025; however, in Miami, prices frequently surpass this benchmark. Many local neighborhoods — especially coastal and luxury markets — are priced far beyond what middle-class families can afford.

• Rising Mortgage Rates

With mortgage rates hovering around 6.5%, even qualified buyers face steep monthly payments. Higher rates reduce affordability and trap more households in long-term renting.

• Wage and Affordability Gap

Local wages haven’t kept pace with housing costs. Many Miami residents work in service-based industries, such as hospitality and retail, where incomes often fall well below what’s needed to afford a mortgage comfortably.

• Insurance Costs and Climate Risk

Miami’s property insurance crisis adds another layer of financial burden. Homeowners pay thousands more per year compared to the national average, and climate-related risk factors, such as hurricanes and flooding, further increase premiums.

• Limited Housing Supply

Geography constrains Miami’s housing market — the Atlantic Ocean to the east and the Everglades to the west limit buildable land. Add zoning restrictions and lengthy permitting, and the result is limited new supply and higher prices.

• Wealth Inequality

Generational wealth plays a significant role in homeownership. In Miami, many households lack the savings or family resources needed for down payments, even if they could afford the ongoing mortgage payments.

What Miami Would Need to Change

If Miami wants to improve its homeownership rate and give more residents the chance to buy, several systemic changes are needed:

• Increase Affordable Supply – Streamline zoning, permit approvals, and incentivize the development of starter homes and “missing middle” housing.
• Expand Buyer Assistance – Provide stronger down payment assistance, low-interest loan programs, and financial education for first-time buyers.
• Address Insurance Costs – Reform Florida’s insurance market to stabilize premiums and invest in climate resilience projects that reduce property risk.
• Boost Local Wages – Diversify Miami’s economy into higher-paying sectors, such as tech and finance, thereby giving residents greater purchasing power.
• Improve Lending Access – Encourage banks to adopt more flexible underwriting criteria and expand credit-building programs for renters.

Conclusion

Miami has long been a magnet for international buyers and luxury investors; however, this global demand has left many locals priced out of the market. With a homeownership rate of just 57.5%, the city falls well below the national average and sits alongside other expensive coastal metros where renting remains the dominant housing option.

While cities like Los Angeles and New York show even lower homeownership rates, Miami’s unique mix of high prices, stagnant wages, and skyrocketing insurance costs creates significant barriers.

If Miami is to shed its reputation as a “renter’s city,” policymakers and developers must collaborate to expand affordable housing, stabilize insurance markets, and create genuine pathways to homeownership for local families. Without those changes, Miami risks becoming a place where owning a home remains a dream for many — and a reality for only a privileged few.

How to Buy Real Estate with Crypto Without Triggering a Tax Event

In the world of real estate financing, a revolutionary option has emerged for cryptocurrency holders. Milo, a Miami-based fintech company, is transforming how crypto investors buy property—without having to sell their digital assets or incur a taxable event.

What Is Milo?

Milo offers a crypto-backed mortgage that allows buyers to use Bitcoin or Ethereum as collateral. Unlike traditional methods where crypto had to be sold—triggering capital gains taxes—Milo lets clients retain ownership of their digital assets. The crypto is placed in a secure, escrow-like account with Milo as collateral for the loan.

How It Works: Pre-Construction vs. Existing Properties

For pre-construction condos, Milo can even cover your deposit payments, giving investors early access to South Florida’s hottest developments. Interest rates for these loans typically range from 11–14%*.

For existing properties, Milo provides a more traditional 30-year mortgage, with interest rates in the 9–10% range*. This flexibility allows crypto investors to enter the real estate market without liquidating their holdings.
*Disclaimer: Interest rates are subject to change and depend on many variables. Prospective customers should request a custom quote.

The Benefits for Crypto Holders

The biggest advantage? No taxable event. By using crypto as collateral instead of converting it to fiat, Milo clients avoid capital gains taxes and stay invested in their digital portfolios. This structure is especially attractive for international buyers, long-term crypto holders, and investors seeking to diversify into real estate.

Comparing Milo to Traditional Options

Traditionally, purchasing real estate with crypto meant converting it into cash—incurring taxes and missing out on potential future gains. Milo flips the script: your crypto stays intact, is safely held, and can be reclaimed once the loan is paid off. It’s a future-focused financing solution for a new generation of wealth.

Meet the Visionary Behind Milo

At the helm of Milo is Josip Rupena, the company’s founder and CEO. A former J.P. Morgan executive, Rupena set out to bridge the gap between traditional real estate lending and the fast-moving world of digital assets. Under his leadership, Milo launched the first crypto mortgage product of its kind, reshaping what’s possible for crypto-savvy buyers.

Founded in Miami and headquartered in Wynwood at 545 NW 26th Street (545 Wyn)—the same building that houses the MIAX Sapphire options trading floor—Milo has quickly gained traction as a category-defining fintech. To date, it has closed over $65 million worth of crypto mortgage transactions, helping buyers around the world unlock real estate ownership without selling their Bitcoin or Ethereum.

As cryptocurrency becomes increasingly mainstream, Milo remains at the forefront, empowering a new wave of investors to diversify into real estate—securely, tax-efficiently, and without compromise.

Ready to Use Your Crypto to Purchase a Dream Property?

If you’re a crypto holder looking to buy real estate in Miami without selling your digital assets or triggering a taxable event, I can guide you through the entire process. Whether you’re interested in a pre-construction opportunity or a luxury condo that’s move-in ready, I’ll help you explore the best options for leveraging your crypto as collateral.

Contact Lucas Lechuga — Miami real estate expert and founder of MiamiCondoInvestments.com — to learn how to make your crypto work for your real estate goals.

Email: [email protected]

Or browse Miami real estate listings at your own leisure

Let’s unlock your next property using the power of crypto — safely, strategically, and tax-efficiently.

AVA MediterrAegean Restaurant Sets Sail for Coconut Grove: A Luxe Mediterranean Dining Debut This November

Get ready, Miami food lovers: this November, AVA MediterrAegean will open its doors at 2889 McFarlane Road, Coconut Grove — the location formerly occupied by Peacock Garden Café. Nestled in the heart of the Grove, this expansion marks Riviera Dining Group’s bold move to bring its signature Mediterranean-Aegean hospitality into one of Miami’s most storied neighborhoods.

Riviera Dining Group: The Ambitious Hospitality Brand Behind the Concept

Before diving into AVA’s arrival, it’s worth spotlighting the team behind it. Riviera Dining Group (RDG) is a luxury hospitality collective that operates a portfolio of elevated restaurant, lounge, and members-club concepts across South Florida. Their current brands include:

• MILA – a multi-venue rooftop restaurant, lounge, mixology bar, and omakase concept in Miami Beach
• Casa Neos – a waterfront/Miami River Mediterranean venue with beach-club and dock-&-dine offerings
• Claudie – a recent French/Mediterranean sister concept launched in Brickell in February 2025
• AVA MediterrAegean – their Aegean-driven brand, currently with one location in Winter Park, Florida, and soon in Coconut Grove.
• MM – the members-club platform that often integrates with their restaurant venues

RDG’s business model is as much about lifestyle and experiential hospitality as fine dining — blending design, service, culinary craft, and exclusivity. Their expansion is backed by outside capital: in December 2021, Mohari Hospitality (founded by Mark Scheinberg) took a significant minority stake in RDG to support concept development and growth. This partnership helps explain the financial muscle behind AVA’s ambitious rollout and the property acquisition in Coconut Grove.

RDG is often lauded for “record-breaking success” with MILA. Their success with that flagship has given them a strong platform from which to expand into other neighborhoods and concepts.

MILA’s Performance: Is It Truly One of the U.S. Top-Grossing Restaurants?

Is MILA among the highest-grossing restaurants in the United States? The short answer is yes — within its niche.

In Restaurant Business’s “Top 100 Independents” rankings for 2024, MILA placed #2, with reported sales of about $49,088,032. That positions MILA as one of the top-grossing independent (i.e. non-chain) restaurants in the U.S.

To give additional context:

• In 2023, MILA reported roughly $31.2 million in annual sales, per Restaurant Business.
• Its rising trajectory and positioning in a competitive, high-stakes Miami market have drawn industry attention.
• News and hospitality trade coverage frequently refer to MILA as “high-earning” or “record-breaking” when discussing RDG’s expansion.

So while MILA might not be the single absolute highest-grossing restaurant in the U.S. (many comparisons are tricky depending on chains vs independents), it indisputably ranks among the top in its class — a feat that adds credibility and buzz to AVA’s impending launch.

The 2889 McFarlane Road Site: From Peacock Garden to AVA’s Next Chapter

The address chosen for AVA — 2889 McFarlane Road — has a rich local history and strategic appeal:

• The property is a 6,369-square-foot ground-floor commercial condo within the Mutiny on the Park / Hotel Arya condominium development.
• In 2022, the site (then housing Peacock Garden Café) was sold by developer Ricardo Dunin and restaurateur Lalo Durazo for $9.5 million (about $1,500 per square foot) to Mohari Coconut Grove, connected to Mohari Hospitality.
• Following that acquisition, Riviera Dining Group (via its partnership with Mohari) was slated to operate a future restaurant concept in the space.
• Riviera Dining Group announces that AVA MediterrAegean will open this November at 2889 McFarlane Road — the spot formerly occupied by Peacock Garden.
• The Peacock Garden Café itself was a well-known Grove institution (alfresco garden dining, drinks, event space) and longtime community favorite before its closure.

This means that AVA isn’t just opening a restaurant — it’s reviving a high-profile, beloved location with a deep residential and culinary pedigree. The transition from garden-style café to immersive Mediterranean destination will be watched closely by locals and foodies alike.

What AVA MediterrAegean Will Bring to Coconut Grove

When AVA opens, it will likely offer:

• A Mediterranean / Aegean culinary program — building on the brand’s design and ethos of blending Greek traditions with contemporary flair (as hinted in their “coming soon” announcement)
• An immersive ambiance — Riviera’s prior venues emphasize design, ambiance, and multi-sensory experience
• A membership or private space component (MM Club) — reports suggest AVA will include its own members’ club space akin to those in other RDG venues
• A new dimension for the Grove’s dining scene, attracting both locals and destination diners

Coconut Grove’s Dining Scene Levels Up

With AVA MediterrAegean’s arrival, Coconut Grove is set to welcome another high-profile restaurant to its flourishing culinary roster. The neighborhood has already attracted major names like Carbone Vino, Major Food Group’s Italian concept, along with local standouts such as Ossobuco Coconut Grove, Level 6, and Amal Miami. Together, these destinations highlight Coconut Grove’s evolution into a serious culinary hotspot. AVA’s debut will not only introduce an Aegean-inspired dining experience but also reinforce the Grove’s reputation as one of Miami’s most dynamic dining neighborhoods, drawing both locals and visitors in search of world-class cuisine.

Trump Presidential Library Proposal Advances at Miami Dade College Site

Florida is moving forward with plans to establish the Donald J. Trump Presidential Library in Downtown Miami. Earlier today, Miami Dade College voted to transfer a 2.63-acre parking lot on its Wolfson Campus to the state, setting the stage for the Florida Cabinet to vote next week on dedicating the land for the library. The property, currently used as an employee parking lot, sits adjacent to the historic Freedom Tower and in the heart of Downtown Miami, making it a highly visible and symbolic location for what would be the first presidential library in Florida.

The proposal, championed by Governor Ron DeSantis, has gained momentum with strong support from state officials, including Florida Attorney General James “Jim” Uthmeier, who has already announced he will vote in favor. If approved, the library would become a landmark institution dedicated to preserving the legacy of the 45th and 47th President of the United States. State leaders argue that the site’s central location in Miami not only underscores Trump’s deep ties to Florida but also positions the project to attract significant tourism, research interest, and economic activity.

The location of the proposed Trump Presidential Library is particularly significant. Situated near the Freedom Tower, a National Historic Landmark often referred to as Miami’s “Ellis Island,” the site adds symbolic weight to the project. Supporters say it could bring prestige and international attention, boosting Miami as both a political and cultural hub. Critics, however, may raise concerns about traffic congestion, land use priorities, and whether the site might have been better used for educational or community purposes given Miami Dade College’s central role in the city.

The next major milestone will come when the Florida Cabinet, acting as the Board of Trustees of the Internal Improvement Trust Fund, votes on the matter. That decision, expected on September 30, 2025, will determine whether the land is formally dedicated for the Trump Presidential Library. Until then, Miami—and the nation—will be watching closely to see how the proposal unfolds.

Homestead Lands Miami FC’s $300M Stadium and Sports Performance Hub

Miami FC – LaBella

Miami FC is making a major move. The club announced that it will relocate from FIU’s Pitbull Stadium to a brand-new, purpose-built stadium in Homestead, as part of a massive mixed-use development known as the Sports Performance Hub (SPH). Here are all the facts, projections, and what this means for the club, Homestead, and the broader region.

Miami FC – LaBella

Key Facts: What Has Been Approved

• Development size & cost: The Sports Performance Hub is an ~$300 million project over 80 acres in Homestead.
  Stadium capacity: The stadium will seat 15,000 spectators.
• Other facilities included: Youth boarding school, training academy, public sports & recreation facilities, a sports-themed hotel, sports medicine center, and other sports courts.
• Lease approval: The City of Homestead approved an 80-year lease / ground lease to enable the project.

Who’s Behind It

• Miami FC’s co-owner Riccardo Silva is a SPH shareholder.
  A broader investor/developer group includes various former professional sports stars, including Argentinian legends, who are helping fund / support the development.

Miami FC – LaBella

Location & Context

• Where: Homestead, Florida — about 35 miles south of downtown Miami
• The site is part of Homestead Regional Park. The project has been sited within land owned by the city.

What’s New vs Earlier Proposals (and Some Discrepancies)

There are slightly different numbers floating from different reports:

• Some earlier reports talked about a 10,000-seat multipurpose stadium in a $275 million development.
• More recent announcements from Miami FC & SPH put the stadium closer to 15,000 seats as part of a ~$300 million project.

These differences partially reflect the project’s evolution—scope increasing, or design changes, or simply varying reporting. The most official and recent figure seems to be the 15,000-seat stadium in the 80-acre, ~$300 million Sports Performance Hub.

Economic & Community Impact

• The lease deal and project are projected to create thousands of construction jobs and hundreds of permanent roles.
• Homestead’s Mayor Steve Losner and the City Council emphasize that the project offers more than just stadium use: training, youth development, wellness, public recreation, hotel/tourism, and likely economic spillover in nearby businesses.
• Importantly, the deal is structured “at no cost to taxpayers” for many of the core facilities, according to Miami FC’s communications.

Timeline & What to Watch For

• Construction has been approved via the ground/lease agreement.
• Some reports suggest the SPH will open within 18 months.
• Renderings and design work (by LaBella Associates) are underway.

What It Means for Miami FC & Regional Soccer

• A dedicated, modern stadium of 15,000 capacity is a major upgrade for Miami FC, moving away from sharing or renting FIU’s Pitbull Stadium.
• Better facilities, academy, youth boarding school help the club build infrastructure for long-term talent development.
• For fans, this means closer, better experiences, new amenities, better access, likely more media visibility.
• For Homestead and South Miami-Dade, it means putting the area more clearly on the sports map, with more foot traffic, visitors, and associated economic development.

Marc Anthony’s Team Miami to Host Electrifying E1 World Championship in November

Mark your calendars: the E1 World Championship electric powerboat race is arriving in Miami on November 7-8. This will mark one of the most anticipated events of the year for fans of speed, sustainability, and celebrity-powered sport. Tickets go on sale September 24 at 12 PM. Team Miami, co-owned by Latin music star Marc Anthony, will be one of the competitors in this stunning new wave of water racing.

Here’s everything you need to know.

What Is the E1 Series?

• Full name: UIM E1 Series (or E1 World Championship). It’s an all-electric offshore powerboat racing series, using hydrofoil craft (“RaceBirds”) that lift off the water to reduce drag and boost efficiency.
• Founders: The idea came from Rodi Basso (former Formula One engineer) and Alejandro Agag (who also founded Formula E and Extreme E), in partnership with others.
• Goals: To blend cutting-edge marine tech, sustainability (zero emissions), gender balance (female & male pilots share driving duties) and high-profile locations.

The inaugural season was in 2024. Team Brady won the first UIM E1 World Championship.

Where Has E1 Raced — and Where It’s Going

E1 is global, with races staged in major waterfront cities (or ones willing to host). Some race locations past and future include:

These locations are chosen not just for spectacle, but also to showcase innovation in marine tech, environmental consciousness, and iconic waterfronts. The Miami race will be held on Virginia Key, next to the historic Miami Marine Stadium.

Celebrity and Star-Power: Who Owns E1 Teams?

One of E1’s key draws is its roster of celebrity owners and high-profile figures. Having famous names helps boost visibility, attract sponsors, media coverage, and also reflects the crossover between sport, entertainment, and sustainable tech. Here are some of the owners and teams:

Each team fields two pilots (one male, one female) per race, who share driving duties across sessions.

The Miami GP: What to Expect November 7-8

Some key details about the Miami stop:

• Dates: November 7 & 8
• Venue: Virginia Key
• Team Miami will compete (co-owned by Marc Anthony)
• The event is being put on in partnership between E1 and Marc Anthony’s company, Magnus

Additional fan-friendly features:

• General admission seating and VIP club around the stadium.
• Live music, food & drink stands, fan festival elements, panel discussions.
• Sustainability initiatives local to Miami are also in development.

Tickets: When, Where, and What to Know

• On-sale date: September 24 at 12 PM EST
• Where: Through official E1 ticketing partners — likely via E1’s website or Miami-specific pages. For example, the Miami GP has a waitlist page on FeverUp.
• Pricing expectations: According to Robert Jakobi (co-founder of Team Miami), tickets should be more affordable than a typical Formula 1 event.
• Ticket types: Expect general admission, VIP options, likely reserved seating near the water, plus extras like paddock or behind-the-scenes access. (Some of this will depend on what the organizers reveal nearer to the date.)

Why This Matters: Beyond the Racing

This event isn’t just about speed. It’s part of several larger trends:

1. Sustainability in Motorsport – E1 pushes electric power, cleaner tech, and reduced environmental impact. Clean energy on water is a newer frontier compared to cars.
2. Gender equality – Each team fields one female and one male pilot. That’s built into the structure.
3. Celebrity & global culture – Having big names gets people talking, makes for crossover appeal (music, entertainment, sports), helps spread awareness of new technologies.
4. City branding & tourism – Hosting the event gives Miami another high-profile international event, leveraging its coastline, climate, existing infrastructure, and appeal.

Quick FAQ

How to Get Ready

• Mark September 24 at 12 PM in your calendar so you can get tickets early. Popular events often sell out fast.
• Decide what type of experience you want: general admission or VIP. VIP may include better views, more amenities, possibly access to restricted areas.
• If traveling, plan logistics: where to stay, transport to Miami Marine Stadium (on Virginia Key), parking, etc.
• Follow Team Miami, E1’s official social channels, and FeverUp to get exact pricing, seating maps, and special offers.

Final Thoughts

The E1 World Championship in Miami is shaping up to be a spectacle: sleek electric boats, star power (Marc Anthony among team owners, plus international celebs across the field), environmental ambition, and entertainment. Whether you’re a motorsport fan, someone interested in sustainability, or just looking for something thrilling to do in Miami in November, this could be one of the must-attend events.

Best Restaurants in Brickell (2025 Edition)

Brickell has transformed into one of Miami’s top culinary destinations, with world-class dining that rivals any major city. From refined French cuisine to modern Japanese hand rolls and Miami-inspired comfort food, the neighborhood’s restaurant scene continues to thrive and diversify. And while technically its own island, Brickell Key is often considered part of the greater Brickell neighborhood—adding to the area’s appeal with some of Miami’s most exclusive dining. Below, we’ve curated a list of the 10 best restaurants in Brickell (2025 Edition) that capture the energy, flavor, and sophistication of this vibrant district.

La Petite Maison

A Brickell staple, La Petite Maison continues to impress with its refined take on Mediterranean cuisine rooted in the flavors of the French Riviera. Expect vibrant dishes like whole sea bream baked en papillote, burrata with tomatoes and basil, and their signature roasted baby chicken. The bright, chic setting paired with a lively atmosphere makes it perfect for both business dinners and celebrations.

Claudie

New to Brickell, Claudie has quickly become a hotspot for modern French dining with a Miami twist. The restaurant combines a sleek design aesthetic with elevated cuisine, offering indulgent dishes like foie gras torchon, lobster risotto, and a curated wine list that emphasizes French vintages. Claudie sets the tone for Brickell’s next chapter of fine dining.

Naoe

For an intimate and unforgettable omakase experience, Naoe on Brickell Key is in a class of its own. Helmed by Chef Kevin Cory, this highly praised restaurant offers a personalized tasting menu that changes daily, spotlighting the freshest seasonal ingredients flown in from Japan. With just a handful of seats, dining at Naoe feels exclusive and private—more culinary journey than simple meal. Each course is meticulously prepared, from sashimi to house-made miso soup, creating a once-in-a-lifetime experience for serious sushi enthusiasts.

 Motek Brickell

Expanding from its Downtown Miami flagship, Motek Brickell has brought its award-winning Israeli-Mediterranean flavors to the neighborhood. Beloved for its crispy schnitzel, shakshuka, and hummus plates, Motek adds a fresh, approachable option to Brickell’s diverse dining scene. With a bright, casual atmosphere, it’s perfect for lunch or a relaxed evening out.

Omakai Hand Roll Bar

Sushi lovers flock to Omakai Hand Roll Bar, where the focus is on simplicity, quality, and speed. Hand rolls are served directly to the guest one at a time, ensuring each bite is fresh and crisp. The menu emphasizes traditional Japanese techniques with a modern, minimalistic setting that keeps the spotlight on the fish.

Kaori

Kaori blends Mediterranean and Asian influences in a modern, design-forward dining space. Its menu is perfect for adventurous diners—think wagyu gyoza, tuna tartare with yuzu kosho, and saffron-infused seafood paella. With its sultry interiors and crafted cocktails, Kaori has cemented itself as a date-night favorite in Brickell.

The River Oyster Bar

A longtime Miami institution, The River Oyster Bar has maintained its reputation as the go-to spot for fresh oysters and seafood. Now in its expanded Brickell location, the restaurant serves everything from Gulf oysters and stone crab claws to pan-roasted local fish. Its relaxed yet refined setting makes it an anchor in the community.

Mamo Miami

Straight from the French Riviera by way of New York, Mamo Miami has made a splash in Brickell with its Italian-Mediterranean cuisine. Signature dishes like truffle pizza, homemade pastas, and branzino carpaccio have quickly turned it into a must-visit. The combination of upscale comfort food and a stylish setting creates an irresistible dining experience.

Lafayette Miami

For a taste of Paris in Miami, Lafayette Miami delivers with classic French brasserie fare served in an elegant, romantic setting. From steak tartare and escargot to duck à l’orange, the restaurant celebrates timeless French cuisine. Pair that with an impressive wine program, and Lafayette adds an unmistakably European flair to Brickell’s dining roster.

Casa Tua Cucina

Located in Brickell City Centre, Casa Tua Cucina is part Italian marketplace, part fine-dining destination. Guests can choose from multiple food stations featuring handmade pasta, artisanal pizza, fresh seafood, and gourmet desserts. The space’s warm design and communal atmosphere reflect the Casa Tua brand’s signature style, making it an elevated but casual Brickell staple.

Final Thoughts

From Michelin-caliber experiences to casual yet sophisticated eateries, Brickell’s restaurant scene continues to evolve in 2025. Whether you’re craving Mediterranean flavors, hand-rolled sushi, or Miami-inspired comfort food, this neighborhood offers some of the best dining in the city.

Amancio Ortega Acquires Atlas Plaza in Miami Design District for Approximately $110 Million

Billionaire Amancio Ortega, founder of Inditex and owner of global fashion powerhouse Zara, has expanded his South Florida real estate portfolio with the purchase of Atlas Plaza in the Miami Design District. The transaction, valued at approximately $110 million, underscores Ortega’s continued commitment to high-profile investments through his family office, Pontegadea.

Atlas Plaza is a prime luxury retail complex located in the heart of the Design District, one of Miami’s most prestigious shopping and cultural destinations. The property is anchored by global brands such as Rolex, Longchamp, and Oliver Peoples, and also features the popular restaurant Michael’s Genuine, a long-time staple of the neighborhood. The retail center benefits from steady foot traffic and strong demand from both tourists and locals, making it a trophy asset within Miami’s growing luxury retail landscape.

The property includes multiple buildings along Northeast 39th and 40th Streets, combining historic architecture with modern retail design. Atlas Plaza was fully leased at the time of Ortega’s acquisition, ensuring strong income stability and immediate returns. The deal also marks a significant increase in valuation compared to its prior sale a decade ago, reflecting the surging demand for investment opportunities in Miami’s prime districts.

For Ortega, this acquisition aligns with a broader strategy of acquiring high-quality real estate in major global cities. Pontegadea’s portfolio already includes office towers, retail centers, and residential properties across North America and Europe, and the addition of Atlas Plaza further solidifies its presence in Miami. The purchase follows a string of recent acquisitions in South Florida, such as his purchase of the Sabadell Financial Center this past July,  reinforcing Ortega’s confidence in the region’s long-term growth.

The transaction highlights the Miami Design District’s position as one of the world’s premier luxury shopping destinations. Over the past decade, the neighborhood has transformed into a hub for high-end fashion, art galleries, and fine dining, attracting both international visitors and affluent residents. Ortega’s investment signals confidence in the continued strength of luxury retail and serves as a benchmark for future deals in the area.

With Atlas Plaza now under Pontegadea’s ownership, expectations are high for the property to remain a cornerstone of the Design District’s retail mix. The acquisition not only enhances Ortega’s global portfolio but also underscores Miami’s growing appeal as a magnet for international capital and luxury-driven real estate investment.

Sales Launch Announced for 72 Carlyle Miami Beach Residences

The long-anticipated 72 Carlyle Miami Beach Residences officially launched sales last night with a VIP broker event, marking the debut of one of Miami Beach’s most exciting new preconstruction projects. Developed by Lefferts with architecture and interior design by acclaimed Italian designer Piero Lissoni, the tower will rise 20 stories and feature 134 luxury residences and penthouses. Completion is currently estimated for Q4 2028.

Project Overview

72 Carlyle is set to become a new landmark in North Beach, soaring 250 feet above the shoreline and offering sweeping views of the Atlantic Ocean, Biscayne Bay, and nearby waterfront parks. With its modern architecture and sophisticated interior design, the development promises to bring the elegance of the Italian Riviera to Miami Beach.

Residences & Starting Prices

72 Carlyle Miami Beach will offer a collection of one-, two-, and three-bedroom residences, along with a limited Penthouse Collection. According to the newly released 72 Carlyle price list:

• One-bedroom residences start at $1,116,500
• Two-bedroom residences start at $1,630,225
• Three-bedroom residences start at $3,874,500

Each home is thoughtfully designed with expansive private terraces, floor-to-ceiling glass, Italian cabinetry, imported stone finishes, and Gaggenau appliances. Select residences include outdoor wet bars and wine storage, while the penthouses feature soaring ceiling heights and wraparound glass walls. See 72 Carlyle Miami Beach floor plans.

Amenities & Lifestyle

72 Carlyle will offer more than 45,000 square feet of curated amenities by Piero Lissoni, including a resort-style pool with cabanas, spa with treatment rooms, sauna, steam rooms, Technogym fitness studio, yoga and Pilates studios, wine cellar with chef’s kitchen, co-working lounge, music and library rooms, and a landscaped sky terrace with panoramic views of the ocean, Intracoastal, and Miami skyline.

Miami Beach Location

Located at 600 72nd Street in Miami Beach, 72 Carlyle sits just steps from the ocean and minutes from Surfside, Bal Harbour Shops, and the Faena District. Residents will enjoy both a serene coastal lifestyle and easy access to some of Miami’s premier dining, shopping, and cultural destinations.

With its prime location, elegant design, and full suite of luxury amenities, 72 Carlyle Miami Beach condos are expected to attract strong interest from both local and international buyers. Contact us today at [email protected] if you have an interest in reserving a unit.