A ground breaking schedule has been announced for The District, a 37-story mixed-use skyscraper set to rise at 225 North Miami Avenue in Downtown Miami. Developed by the Related Group and designed by Sieger Suarez Architects with interiors by the Meshberg Group, the structure should rise to 394-feet and yield 343 units, bounded by bounded by NE 3rd St. to the north, NE 1st Ave, to the east and NE 2nd St. to the south. The developer has unveiled ground breaking will occur in Q4 of 2021, which is later this year.
Sales are already underway, with the deposit and contract plan following a similar structure to many projects rising in Miami now, where up to 40% of the deposit is required throughout the construction phase, and 60% due at closing. The initial 40% is broken up into intervals of 10% during contract signing, 60 days after contract, ground breaking and top off.
The District. Courtesy of ArX Solutions USA LLC.
The District. Courtesy of ArX Solutions USA LLC.
The District. Courtesy of ArX Solutions USA LLC.
The District, also known as District 225, will join the short-term rental condo market, which allows buyers to easily rent out their units through platforms like Airbnb, Vrbo and Flipkey. Units will range from 446 square feet for a studio, with 1-beds starting at 557 square feet and 2-beds at 778 square feet. Pricing for the units start from $352,000 for studios, 1-beds from $385,900 and 2-beds from $573,900. All units will come fully furnished and ready to rent out. Amenities include an expansive resort-styled rooftop deck with a pool and spa, fire pit, bbq and kitchen areas, and gorgeous views of Downtown Miami and Biscayne Bay. There will also be other amenities such as a full-height indoor basketball court and regulation-size racquetball court, a rock climbing wall, co-working spaces with multiple seating options, high-speed internet connectivity, private meeting rooms, conference room, and state-of-the-art fitness center.
The District. Interiors by Meshberg Group.
The District. Interiors by Meshberg Group.
The District. Interiors by Meshberg Group.
The District. Interiors by Meshberg Group.
The District. Interiors by Meshberg Group.
The District. Interiors by Meshberg Group.
Topping off of the structure is anticipated for the Q4 of 2022, approximately a year after ground breaking, and hoping for completion by the fourth quarter of 2023. The entire development should take about 2 years to complete.
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Does these buildings have conceirges doormen alike and whats the monthly maintainence/overhead fee for 1-2 bedroom apts
You may want to check with their sales team once the building is complete.
What’s the monthly HOA or maintenance fees?
What’s the tax bracket or % for such development?