Project Spotlight: 600 Miami Worldcenter, a Sold-Out Condo Tower in the Making

How will this 606-unit development be different? Merrimac Venture’s Nitin Motwani weighs in.

The condominium market in Downtown Miami has evolved a lot lately, reflecting changing buyer preferences and the city’s dynamic growth. Though some have expressed concerns over the market’s potential saturation, demand hasn’t paused. Against this backdrop, 600 Miami Worldcenter—part of the $6 billion transit-oriented, mixed-use Miami Worldcenter project—has recently broken ground, with the 606-unit development already sold-out.

Merrimac Ventures, along with Aria Development Group, the companies behind the 32-story condo tower, is capitalizing on the continued demand for condos, particularly for those that are free of rental restrictions. Multi-Housing News caught up with Merrimac Ventures’ Managing Partner Nitin Motwani five years after the first condo community opened at Miami Worldcenter. Motwani cast a light on the constantly changing demands of condo buyers and expanded on what will make 600 Miami Worldcenter stand out in a highly competitive market.

How has the condo market in this area evolved over the past few years, and how does your project fit into the future of Downtown Miami?

Motwani: We’re seeing an increase in buyers who want flexibility—they want to be able to use their units when they want and rent them out without any restrictions. Downtown Miami’s tourism market has grown tremendously on a global scale—hotels are full, restaurants are packed and local businesses are thriving. Alongside our partners at Aria Development Group, we saw the demand for turnkey short-term rentals in the heart of Miami’s urban core, just steps away from the best arts, culture, shopping, dining and entertainment the city has to offer, so that was always the idea in designing 600 Miami Worldcenter.

We’re also seeing buyers interested in smaller sized units at attractive price points given there’s so much ultra-luxury product on the market right now. Next door, our firm is also developing The Crosby, another short-term rental condominium in partnership with Related Group, which sold out at a record pace in just a few short months.

The 600 Miami Worldcenter project is also completely sold out two years before completion. What do you think are the top elements that made it so appealing to buyers?

Motwani: We can attribute the project’s fast sellout to two things: a flexible lifestyle and an unmatched location in the heart of Downtown Miami’s urban core. We’re seeing buyers who want the option to live in Miami for months at a time but still have the option to rent out their units at their leisure and take advantage of the city’s thriving tourism market. We’re also seeing buyers who place value on the development’s walkability to dozens of restaurants, bars, museums and parks as well as multiple transit options that take you all around South Florida.


READ ALSO: Post-Messi, Global Interest for South Florida Multifamily Is Skyrocketing


What are some of the architectural and interior design choices you made for this project?

Motwani: Residences at 600 Miami Worldcenter will be curated by the award-winning design company The Design Agency and are equipped with floor-to-ceiling glass windows with custom window treatments, expansive balconies, flooring and furnishings on all residential interiors. Kitchens and bathrooms will include custom Italian cabinetry and countertops, top-of-the-line appliances with speed ovens, integrated paneled refrigerators/freezers, dishwashers, in-unit washers and dryers and fully built-out spacious closets.

Walk us through the amenities and features that will be available to residents.

Motwani: Designed by Revuelta Architecture, 600 Miami Worldcenter will boast luxury amenities including a rooftop deck with a pool, outdoor kitchen area, resort lounge seating and a state-of-the-art fitness center with an outdoor private training area. The building will also feature a covered porte-cochere, 24-hour attended lobby, dedicated coworking space, resident lounge, entertaining space, air-conditioned resident storage and bike storage.

  • 600 Miami Worldcenter will boast luxury amenities including a rooftop deck with a pool, outdoor kitchen area, resort lounge seating and a state-of-the-art fitness center with an outdoor private training area. Image courtesy of Merrimac Ventures and Aria Development Group.
  • A rendering of 600 Miami Worldcenter
  • 600 Miami Worldcenter apartments
  • 600 Miami Worldcenter game room
  • 600 Miami Worldcenter lobby
  • 600 Miami Worldcenter resident lounge
  • 600 Miami Worldcenter pool

You recently received $95 million in construction financing for the development, but was it difficult to secure project financing, considering the tight lending environment?

Motwani: 600 Miami Worldcenter has been one of our most anticipated and fastest-selling developments, which was appealing for our lenders at Banco Inbursa. Merrimac and Aria Development Group’s strong relationships with financing partners from numerous projects across South Florida also helped us secure the financing for 600 Miami Worldcenter.

Once completed, Miami Worldcenter will also feature commercial and hospitality spaces, making it the second-largest urban development in the U.S. after Hudson Yards. How will this massive project be able to foster a sense of community and livability?

Motwani: We have transformed 27 acres of land that sat vacant for more than five decades into the largest transit-oriented development in the Southeast and a thriving mixed-use neighborhood with residential, commercial, retail, hospitality, food and beverage, and entertainment uses playing a critical role in our appeal among residents, tourists and office users in the future. Miami Worldcenter will be the ultimate destination to live, work and play in South Florida.

At the heart of Miami Worldcenter will be World Square, a 20,000-square-foot outdoor public plaza and park. Designed as a central gathering place, World Square will serve as the heartbeat of the development featuring an abundance of open space, shade trees and oversized, pedestrian-friendly sidewalks lined with dining, entertainment and retail concepts.

The ownership team has also invested more than $5 million into its public art program to not only display museum-quality works to attract art-loving locals and tourists, but also to foster a sense of community and cement Miami Worldcenter as a place where people come together.

You May Also Like