Merrimac Ventures and Aria Development Group, two prominent developers based in South Florida, have successfully obtained a $95 million construction loan for their latest project, the 600 Miami Worldcenter condominium. This 32-story tower will be situated within the 27-acre mixed-use development in Downtown Miami's Miami Worldcenter. The development will offer a total of 606 fully furnished units, allowing for unrestricted short-term rentals. The groundbreaking for this highly anticipated project is set to take place soon, with completion expected by 2026.
The unique rental model of 600 Miami Worldcenter, offering turn-key short-term rentals, has attracted significant interest from buyers. All the units in the development have already been pre-sold to residents primarily from the United States, Colombia, Turkey, and Argentina. The residences will range from studios spanning 407 square feet to two-bedroom units measuring 830 square feet.
Nitin Motwani, Managing Partner of Merrimac Ventures, expressed his satisfaction with the project's popularity and the strong demand it has generated. He stated, "600 Miami Worldcenter has been one of our most anticipated and fastest-selling developments, which was appealing for our lenders at Banco Inbursa. Heightened demand for the project's ideal location and fully furnished turn-key residences are just some components that will make it a standout addition to our city-within-a-city at Miami Worldcenter."
David Arditi, Managing Partner of Aria Development Group, also expressed excitement about the project, highlighting the incorporation of successful luxury residential development practices and the vibrancy of Downtown Miami. He emphasized the desire to strengthen the relationship with Banco Inbursa through the construction of this remarkable project.
600 Miami Worldcenter is the latest addition to Miami Worldcenter, a $6 billion mixed-use development that is transforming the heart of Downtown Miami. With an impressive 27-acre footprint, Miami Worldcenter ranks as the second-largest urban development in the United States, second only to Hudson Yards. The development features a diverse mix of residential, commercial, and hospitality offerings, accompanied by approximately 300,000 square feet of retail, restaurant, and entertainment space.
Merrimac Ventures has a significant presence in Downtown Miami, including the development of Miami Worldcenter in collaboration with master developers Miami Worldcenter Associates, led by Managing Partners Nitin Motwani and Art Falcone, along with CIM Group. Apart from 600 Miami Worldcenter, Merrimac Ventures is undertaking the development of two additional residential towers within Miami Worldcenter: The Crosby, a 450-unit condominium developed in partnership with Related Group, and the second phase of Caoba, a 40-story tower featuring 420 apartments.
The residences at 600 Miami Worldcenter will be meticulously curated by the acclaimed design company, The Design Agency. They will feature floor-to-ceiling glass windows with custom window treatments, expansive balconies, and high-quality flooring and furnishings throughout. The kitchens and bathrooms will showcase custom Italian cabinetry and countertops, top-of-the-line appliances, in-unit washers and dryers, and fully built-out spacious closets.
Designed by Revuelta Architecture, 600 Miami Worldcenter will offer an array of luxury amenities. These include a summer kitchen, a rooftop swimming pool with resort-style seating, a state-of-the-art fitness center with an outdoor private training area provided by Homage Fitness. Additional features encompass a covered porte-cochère, a 24-hour attended lobby, dedicated co-working space, a resident lounge and entertaining area, air-conditioned resident storage, and bike storage.
Situated within walking distance of prominent attractions such as Museum Park, the Kaseya Center, the Adrienne Arsht Center for the Performing Arts, and Miami Dade College's Wolfson Campus, Miami Worldcenter occupies 10 city blocks. The development is conveniently adjacent to Brightline's MiamiCentral station, offering direct train services to Aventura, Fort Lauderdale, Boca Raton, West Palm Beach, and Orlando. With access to Tri-Rail, the Metromover, and the Metrorail, Miami Worldcenter stands as Florida's largest and most connected transit-oriented development.