Demolition Underway at Future Site of 888 Brickell by Dolce & Gabbana

A major milestone has been reached for 888 Brickell by Dolce & Gabbana, one of Miami’s most anticipated ultra-luxury condo developments. Demolition has officially begun at 888 Brickell Avenue, where the existing building—now fully wrapped and prepped for teardown—will soon make way for what is set to become the tallest residential tower in Brickell. The start of demolition signals real momentum for this high-profile project, which has already generated significant buzz for its fashion-forward branding, sky-high amenities, and record-setting pricing.

888 Brickell by Dolce & Gabbana is being developed by JDS Development Group, the New York–based firm behind other prominent South Florida ventures like Monad Terrace in Miami Beach. The tower will rise 1,049 feet and span 90 stories, establishing itself as a defining feature of the Brickell skyline. In a rare collaboration between high fashion and real estate, the project will be the first residential tower in the world fully branded and designed by Italian fashion house Dolce & Gabbana. The interiors, furnishings, and aesthetic direction of the residences and common spaces are being curated by the fashion label, infusing the building with signature opulence and craftsmanship.

Architecture for 888 Brickell is being led by Miami-based Sieger Suarez Architects, working alongside Studio Sofield, known for its ultra-luxury designs including Manhattan’s 111 West 57th Street. The tower will offer 259 branded residences, along with a members-only club, full-service spa, gourmet restaurants, and an expansive pool deck with cabanas and ocean views. Units range from one to four bedrooms, with prices starting at $2.2 million and the 3-story, crown-jewel penthouse asking $88 million.

With demolition now underway, 888 Brickell by Dolce & Gabbana is one step closer to transforming this iconic stretch of Brickell Avenue. As vertical construction approaches, the tower promises to raise the bar for luxury living in Miami and establish a new benchmark for branded residential real estate.

Miami Condo Market Slump Worsens as Sales Drop and Inventory Surges

The latest condo market statistics for Miami-Dade County, released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS), reflect a clear shift in market dynamics toward buyers. In June 2025, total existing condominium sales fell 12.9% year-over-year, dropping from 1,085 closed transactions in June 2024 to 945 last month. This marks a continued slowdown in demand as elevated mortgage rates, increased insurance costs, and tighter lending standards for certain buildings weigh on buyer activity.

At the same time, inventory continues to climb at a rapid pace. Miami-Dade condo listings surged 36.07% year-over-year, rising from 9,588 active listings in June 2024 to 13,046 in June 2025. With supply outpacing demand, the months of inventory for existing condos now sits at 14.1 months—well above the 6-to-9-month range typically considered a balanced market. The elevated inventory level gives buyers more options and greater leverage during negotiations, particularly in the mid-range and resale segments of the market.

While the surge in supply may present challenges for sellers, it also opens up opportunities for buyers who have been sitting on the sidelines. Units that are competitively priced, staged well, and located in buildings with healthy financials and flexible financing options are still attracting interest. However, sellers who fail to adjust to today’s more competitive landscape risk extended days on market and increased price reductions.

Overall, the June 2025 data underscores a notable turning point for the Miami condo market. With over 13,000 condos listed for sale and over a year’s worth of supply, the power has clearly shifted to buyers. Sellers looking to stand out must be strategic in pricing and presentation, while buyers now have a rare window to be selective, negotiate favorable terms, and find long-term value in a high-supply environment.

Jewelry Brand Ildico Buys Corner Retail Gem in Miami Design District for $35M

A prime retail property in the heart of the Miami Design District has changed hands in a major off-market transaction. The two-story commercial building located at 3800 NE 2nd Avenue sold for $35 million, reflecting the continued strength and desirability of Miami’s luxury retail corridor. The buyer, Beverly Hills-based jeweler Ildico, acquired the property through an entity tied to its CFO, Mikhail Cohen. The deal represents a significant expansion for the high-end jewelry brand as it plants deeper roots in the South Florida market.

Built in 1926, the building spans 9,445 square feet and is currently home to luxury retail tenants including Listone Giordano, L’Atellier Paris Haute Design, and CNCPTS Miami. The $35 million purchase price equates to approximately $3,701 per square foot, underscoring the premium investors are willing to pay for flagship-quality real estate in the Design District. The sellers—veteran Miami investors Sam Herzberg, David Herzberg, and Richard Do—originally purchased the building in 2015 for $11.4 million, making this transaction a 208% increase in value over a ten-year period.

This transaction further solidifies the Miami Design District’s status as one of the nation’s top-tier luxury retail destinations. Home to internationally renowned brands like Louis Vuitton, Gucci, Saint Laurent, and Hermès, the neighborhood has been strategically transformed by development firms such as Dacra, Brookfield, and L Catterton. As demand for retail space in the district continues to climb, so do prices—both in terms of lease rates and sale values.

The deal was brokered by Joe Fernandez, Tony Arellano, and Devlin Marinoff of DWNTWN Realty Advisors, who have facilitated more than 40 deals in the Design District over the past 15 years. Their deep understanding of the area’s market dynamics played a key role in bringing the off-market deal to fruition.

Located at the intersection of NE 2nd Avenue and NE 38th Street, the 3800 NE 2nd Avenue property sits just one block from Palm Court and within walking distance to the district’s most trafficked luxury boutiques and art installations. The building’s strategic corner location and historic character further elevate its value in a district known for architecturally significant properties and experiential retail environments.

This sale also comes amid a broader wave of investment activity in the area. Just blocks away, plans have been filed for a 20-story residential and retail tower, while nearby developments such as Cassi—a $125 million luxury apartment and retail project—signal ongoing momentum in the district’s evolution.

With this acquisition, Ildico joins a growing list of private and institutional investors targeting the Miami Design District for long-term positioning. As retail trends continue to favor experiential, luxury-driven environments, properties like 3800 NE 2nd Avenue are proving to be some of the most valuable and resilient assets in Miami’s commercial landscape.

Miami Tops Altrata’s 2025 Report as the Global Epicenter for Ultra-Wealthy Second Homes

According to Altrata’s newly released Residential Real Estate 2025 report, Miami has officially cemented its position as the top destination in the world for ultra-high-net-worth (UHNW) individuals seeking second homes. With over 13,200 UHNW individuals owning secondary residences in the Magic City, Miami now outranks all other U.S. cities—including New York and Los Angeles—in this category. Globally, it ranks #1 as the most popular second-home destination for the ultra wealthy, a testament to its rising global status and appeal among elite buyers.

Several factors continue to make Miami an irresistible draw for the ultra-wealthy. Florida’s tax-friendly policies—particularly the absence of a state income tax—have long made Miami a haven for wealth preservation and strategic investing. But beyond financial benefits, Miami offers a lifestyle that few global cities can match. Its year-round sunshine, vibrant arts and culture scene, thriving culinary destinations, and pristine beaches combine to create an ideal environment for both full-time living and seasonal retreats. Furthermore, Miami’s geographic location and international airport offer unmatched access to Latin America, Europe, and key financial hubs, making it a practical and prestigious base for international UHNW individuals.

The report also places Miami among the top five cities worldwide in total UHNW residential footprint, alongside global heavyweights like London, Hong Kong, New York, and Los Angeles. This reinforces a growing trend: the ultra wealthy are increasingly viewing Miami not just as a vacation destination but as a cornerstone in their global real estate portfolios. As the global UHNW population is projected to grow by more than 33% over the next five years, Altrata anticipates that demand for high-end residential real estate will follow suit—and Miami is poised to absorb a significant portion of that surge.

For Miami’s real estate professionals, developers, and investors, the data presents clear opportunities. Demand is expected to skyrocket for luxury condos, waterfront estates, and gated communities—particularly in neighborhoods like Miami Beach, Brickell, Coconut Grove, and Coral Gables. New development projects that prioritize privacy, design sophistication, top-tier amenities, and global branding will have a distinct edge in this new landscape. Additionally, marketing strategies must be tailored to UHNW sensibilities, highlighting security, exclusivity, and long-term asset value.

Looking ahead, Miami’s luxury real estate market is entering a new era of international significance. With the UHNW population projected to grow rapidly and Miami emerging as a clear favorite, we can expect a rise in upscale development, increased buyer competition, and a greater emphasis on properties that deliver both lifestyle and legacy value. For agents, investors, and developers, now is the time to double down on Miami’s unprecedented momentum.

The Residential Real Estate 2025 report from Altrata doesn’t just confirm what many in the industry already suspected—it quantifies it. Miami isn’t just hot. It’s global, it’s elite, and it’s leading the charge in the future of luxury residential real estate.

Plans Filed for Mama Hattie’s House, a Supportive Housing Project in Overtown Miami

A meaningful new housing project is moving forward in Miami’s historic Overtown neighborhood. Plans have officially been filed for Mama Hattie’s House, a seven-story, 88-unit affordable development proposed for 430 NW 9th Street. Designed to serve vulnerable young women—specifically those aging out of foster care or rescued from human trafficking—the project also includes 17,280 square feet of office and academic space for Girl Power Rocks, Inc., the nonprofit organization behind the initiative.

The development is planned for what is currently a vacant lot. Once complete, Mama Hattie’s House will offer more than just shelter—it will provide a stable, supportive environment with onsite services tailored to help its residents heal, grow, and thrive. Girl Power Rocks had set out to raise $25 million to bring the project to life, highlighting the community’s deep investment in this mission.

A Tribute to Mama Hattie

The building is named in honor of Hattie Williams—known lovingly as “Mama Hattie”—a longtime community leader in Overtown who dedicated her life to mentoring at-risk youth. She was a mother figure to many, offering guidance, love, and structure to girls navigating extremely difficult circumstances. This new project is a tribute to her legacy, continuing her life’s work in the neighborhood she called home.

Designed with Purpose

The project’s architectural design is being led by REPRTWÄR, a Miami-based firm known for its innovative, community-focused work. The design for Mama Hattie’s House incorporates housing alongside academic, administrative, and wellness spaces, creating a cohesive environment where young women can access the tools and support they need under one roof.

Girl Power Rocks, Inc. has long been a driving force for change in Miami, offering girls ages 11 to 17 programs focused on academic support, counseling, self-esteem, and leadership development. With Mama Hattie’s House as its future headquarters, the organization will be able to expand its impact and offer on-site services to girls in urgent need of both housing and healing.

Community and Context

Located at 430 NW 9th Street, the site sits in a highly accessible part of Overtown, close to public transit, the Health District, and Downtown Miami. Its central location ensures residents will have access to essential services while remaining rooted in a neighborhood with deep cultural and historical significance.

By filing for administrative site plan review, the team has taken the next step toward making this vision a reality. If approved, Mama Hattie’s House will become a vital resource in the community—one that not only provides housing, but helps rebuild lives, restore dignity, and honor a legacy that still inspires.

Miami Luxury Real Estate Nearly Doubled in Value Over the Past Five Years, Knight Frank Report Reveals

Knight Frank’s Wealth Report 2025 reveals that Miami has emerged as one of the top-performing luxury real estate markets globally, outpacing nearly every other major city outside Dubai. The report highlights that a $1 million investment in Miami’s prime residential market in January 2020 would have grown to $1.9 million by January 2025, reflecting a remarkable 90% increase in value.

This explosive growth underscores Miami’s evolution into a magnet for global wealth—driven by favorable tax policies, an influx of remote workers, and high-net-worth individuals seeking lifestyle, climate, and investment advantages. The report notes that Miami, along with Palm Beach and Aspen, has benefited from “super-charged growth” as global wealth becomes increasingly mobile.

Over the past five years, geopolitical upheaval, the COVID-19 pandemic, and shifting economic patterns have redefined global property markets. Yet, amid that uncertainty, Miami has thrived. The city’s robust performance aligns with broader global trends noted in the report: luxury real estate continues to be viewed as a cornerstone of both wealth preservation and growth, with 44% of global family offices planning to increase their real estate exposure over the next 18 months.

What’s driving Miami’s continued ascent? According to the Wealth Report, it’s a confluence of factors:

• Affluent migration from high-tax states like New York and California.
• Lifestyle shifts accelerated by remote work, making Miami an appealing primary residence.
• Limited supply of prime properties in coastal neighborhoods.
• Strong interest from international buyers, particularly from Latin America and Europe.

With Miami forecasted to continue its upward trajectory in 2025, the city remains a beacon for luxury property investment. Whether as a primary residence, second home, or long-term investment, Miami continues to prove its value to the world’s wealthiest investors.

Is Fed Chairman Jerome Powell on the Way Out? What a 300 Basis Point Cut Would Mean for Miami Real Estate

Federal Reserve Chairman Jerome Powell is once again in the political crosshairs. This time, the controversy surrounds a $2.5 billion renovation of the Fed’s Washington, D.C. headquarters. Critics, including several Republican lawmakers, have accused Powell of misleading Congress about the cost and scope of the project, claiming the renovation includes unnecessary luxury upgrades. President Trump has reportedly seized on the issue as political leverage to push Powell out of office—either through resignation or by invoking a rarely used provision to fire him “for cause.”

President Trump has made no secret of his dissatisfaction with Powell’s handling of interest rates. Since returning to the national spotlight, Trump has advocated for a dramatic 300 basis point (3%) rate cut, arguing that slashing rates from around 4.5% down to 1.5% would save the federal government hundreds of billions of dollars in debt servicing costs. According to his allies, such a cut could result in up to $360 billion in annual savings, although more conservative estimates put the figure closer to $174 billion in the first year alone. Trump’s goal appears to be replacing Powell with a Fed Chair who will aggressively pursue this monetary policy shift.

If implemented, a 300 basis point rate cut would be unprecedented in modern U.S. economic history. The last time the Fed enacted such a large move was during the 2008 financial crisis and again during the COVID-19 emergency response—both times with cuts closer to 100 basis points. A three-point reduction would significantly lower borrowing costs across the board, from mortgages to credit cards to business loans. This would likely lead to a surge in consumer spending, business investment, and home buying. Financial markets would almost certainly rally on the news, with equities, cryptocurrencies, and even gold seeing sharp gains in anticipation of looser monetary conditions.

But such a drastic move isn’t without risks. A key concern is the resurgence of inflation. Many economists warn that a rate cut of this magnitude could reignite inflation, potentially pushing it back above 5% after months of moderation. Another issue is the value of the U.S. dollar. Lower interest rates tend to weaken a country’s currency, and a sudden 300 basis point cut could lead to a rapid 10% drop in the dollar’s value—raising the cost of imports and exacerbating inflation pressures. There’s also the possibility of asset bubbles forming, especially in real estate and tech stocks, as cheap money floods the market.

In Miami, the implications of such a rate cut would be immediate and dramatic. Mortgage rates, currently hovering around 7%, could drop to the low 4% range or even lower. This would significantly boost purchasing power, particularly among first-time buyers and investors. Historically, even a 100 basis point cut can increase housing affordability by 10%; a 300-point cut could make homeownership viable for thousands more buyers practically overnight. Demand would spike, fueling a new wave of bidding wars, rapid price appreciation, and increased development activity—especially in high-growth neighborhoods like Edgewater, Little River, and Wynwood.

However, the downside in Miami would be a further deterioration in affordability. Home prices, already inflated due to limited inventory and migration from higher-cost states, could surge another 20% or more. That would likely push more locals out of the market and exacerbate the region’s housing inequality. On the investment side, commercial real estate—especially multifamily—would benefit from cheaper debt and renewed investor appetite, but office space and retail may see less of a bounce due to ongoing structural challenges.

From a macro perspective, such a cut could energize U.S. GDP growth, potentially pushing it above 3.5% annually. But the long-term consequences could be destabilizing. The move would almost certainly raise concerns about the Federal Reserve’s independence if it appears that political pressure—rather than economic data—is guiding monetary policy. Financial institutions, global markets, and U.S. allies could begin to question the stability and predictability of the Fed, which has long been a cornerstone of global financial confidence.

In conclusion, the rumors of Powell’s resignation—fueled by scandal and political pressure—could mark a turning point in U.S. economic policy. A 300 basis point rate cut would bring short-term relief to borrowers and spark a new wave of growth in places like Miami, but the risks to inflation, market stability, and Fed independence are considerable. Whether this is sound economic strategy or reckless short-termism remains to be seen—but the impacts, particularly on the real estate market, would be both swift and significant.

Florida Appeals Court Upholds Holdout Owners’ Rights at Biscayne 21, Setting Major Precedent for Condo Terminations

In a major win for Florida condo owners, the state’s Third District Court of Appeal ruled in favor of a group of unit owners at Biscayne 21, a 13-story, 192-unit condominium complex in Miami’s Edgewater neighborhood. The court upheld a previous decision that invalidated a developer-led amendment to the condo’s governing documents, which had attempted to lower the required vote to terminate the condominium from 100% to just 80%. On July 10, 2025, the court denied a motion for rehearing, affirming that the original declaration of condominium required unanimous approval to terminate the association and could not be modified unilaterally.

The case, brought by eight unit owners represented by attorney Glen Waldman, challenged the termination plan led by Two Roads Development and its affiliate, Empira Group. The developer had acquired 86% of the units in a $150 million bulk buyout and sought to redevelop the property into a luxury condo project—Edition Residences Edgewater. After several owners refused to sell, the developer-controlled board amended the termination clause, a move the court ruled violated the contractual rights of the remaining owners.

The appellate court’s decision not only preserves the rights of the Biscayne 21 holdouts but also establishes a significant precedent with potential statewide implications. According to legal experts, the ruling confirms that developers cannot retroactively change essential voting rights in a declaration—particularly when it involves something as consequential as terminating a condominium association. The decision is expected to complicate bulk buyout efforts across Florida, especially in cases where the original governing documents require unanimous consent for termination.

For developers, this decision adds a new layer of legal risk when pursuing aging condo properties for redevelopment. Florida has seen a wave of such efforts in recent years, especially following the collapse of Champlain Towers South in Surfside, which raised concerns about aging buildings and spurred legislative changes. However, this ruling signals that even amid redevelopment pressures, courts are willing to protect owners’ contractual rights and block attempts to dilute those protections.

Two Roads Development has stated its intention to appeal the decision to the Florida Supreme Court. However, until or unless the state’s highest court overturns the appellate ruling, the current decision stands as binding precedent. The outcome strengthens the position of holdout owners and may force developers to offer more favorable terms—or abandon termination plans altogether.

Ultimately, this case underscores the importance of understanding and respecting the original terms set forth in a condominium’s declaration. Boards and developers alike must tread carefully when altering foundational governance provisions. As Miami’s real estate market continues to evolve, the Biscayne 21 ruling will likely influence how future terminations are approached—not just in Edgewater, but throughout the state.

The Alley: A Boutique Preconstruction Opportunity in Miami’s Booming Little River

Miami’s Little River neighborhood is experiencing a renaissance—and The Alley is at the forefront of it. This boutique, 5-story condo development is the first lodging building in Little River to be offered for individual ownership, giving early investors the chance to claim a stake in one of the city’s most exciting up-and-coming districts.

Developed by Saxum International—an experienced and visionary team known for reshaping Little River’s residential landscape—The Alley offers 50 fully finished junior studios starting from just $315,000. Designed for maximum flexibility and rental potential, each residence is optimized for short-term stays with thoughtful layouts, clean modern finishes, and optional division for added guest privacy. Residences range from 358 to 382 square feet, with east and west-facing views and a payment structure tailored to ease: 20% at contract, 20% at groundbreaking, 10% at the third floor, and 50% at delivery in Q3 2026.

The building is rich in features that appeal to today’s traveler and digital nomad. Highlights include a rooftop coworking lounge, high-speed WiFi throughout, 24/7 parking for residents and guests, and vending machines for added convenience. HOA dues are a modest $1.37 per square foot and include reserves, making The Alley a hassle-free income-producing asset.

What makes The Alley truly special, however, is its location. Nestled at 183 NE 78th Street, residents will enjoy seamless access to the creative pulse of the city. The buzzing Wynwood Arts District is just 7 minutes away, the high-fashion Design District in 8, and Midtown Miami in 10. Even Downtown, Brickell, and Miami International Airport are within a 20-minute drive. And with a future Tri-Rail station planned as part of Swerdlow Group’s massive 7,500-unit development, Little River’s connectivity is only going to get better.

This is more than just a smart investment—it’s a front-row seat to transformation. With over $3 billion in approved development, Little River is evolving into Miami’s next cultural and investment hub. Projects from heavyweights like AJ Capital Partners, B Developments, and CEDARst Companies are bringing thousands of new residences, retail destinations, and creative spaces to the area. Property values here are appreciating faster than in more saturated markets like Brickell or Miami Beach.

If you’re looking for a high-yield opportunity in a neighborhood poised for explosive growth, The Alley delivers. With limited inventory, rising demand for short-term rentals, and a future-proof location, this is your chance to get in early on Miami’s next big thing.

Contact us today at [email protected] to schedule a presentation or to reserve your unit at The Alley.