Related Group and Merrimac Ventures are now teaming up to develop a residential tower with no rental restrictions in the heart of Miami, The Crosby Miami Worldcenter.
The Crosby Miami Worldcenter will sit on 0.55 acres in the Park West neighborhood of Miami. Rising 31 stories tall, the residential tower will feature 450 condo units. The units themselves will be fully furnished and finished from studios to two-bedroom floor plans. Square footage will range from 350 to 825 square feet and pricing will begin in the low $300,000. Interiors will be curated by AvroKo.
Residence Features Include:
- 9-foot-high ceilings with floor to ceiling glass windows
- Balcony with every residence
- Finished interior and exterior flooring
- Gourmet kitchens featuring custom Italian cabinetry
- Bosch appliances, including paneled refrigerator/freezer, dishwasher, built-in convection oven/microwave, and cooktop
- Rain showers in primary bathrooms and custom Italian vanities
- Full-size washer and dryer in unit
- Fully built-out closets
- Contemporary lighting packages, including recessed lighting, dimmers, and lighting control
- Brilliant smart-home system offering seamless personalization with the touch of a button, including the ability to control audio, climate, window treatments, and lighting systems
- Smart keyless entry system allowing you to unlock your door via smart app, door code, keycard, or Apple Watch
The Crosby will be designed by Cohen Freeman Encinosa (CFE) Architects. The design of the tower appears modern with floor-to-ceiling glass windows on every floor and expansive terraces throughout. The Crosby features over 22,000 square feet of luxury amenities from a rooftop pool to a ground-floor restaurant.
Tower Amenities Include:
- Expansive rooftop resort-style pool with jacuzzi, cabanas, and grilling stations perfect for entertaining
- Private rooftop restaurant/bar Italian inspired trellis garden
- Inviting fire pit lounge with breathtaking views of the Biscayne Bay skyline
- State-of-the-art fitness center featuring saunas and plunge pools
- Clubroom with private dining and stunning water views
- Convenient juice and coffee bar
- Spacious coworking center
- Gaming lounge
- Curated museum quality art throughout all common areas
- 24/7 security services, high-speed elevators, and controlled property access
- 24/7 concierge services European porcelain flooring
According to Nick Pérez, a Senior Vice President at Related, it took around two years to come to terms for the project with the managing partner at Merrimac and a co-developer, Nitin Motwani. The developers paid $12 million for the site.
The Crosby will have no rental restrictions and the buyers are able to rent out their units using any available platform for as many days as they would like. In the announcement, Related expects the buyers to be mostly investors due to there being no restrictions.
According to Motwani of Merrimac, “This will be the only for-sale product at Miami Worldcenter.”
The construction costs have not been disclosed and construction is expected to begin in 2023 with a completion date of 2025.
