The Related Group, one of South Florida’s most active condo developers, and Merrimac Ventures, led by the Motwani Brothers, have teamed up for the development of The Crosby, a 31-story residential tower announced to rise at 601 North Miami Avenue within the 27-acre Miami Worldcenter complex. The project is comprised of 450 fully furnished units ranging between 350 square feet to 825 square feet, configured in studio, one-bedroom and two bedroom floor plans; over 22,000 square feet of amenities and 4,000 square feet of ground floor commercial space. Residences at The Crosby will have no rental restrictions, meaning owners will have the option to offer their units as short-term rentals. Miami Lakes-based Cohen Freedman Encinosa & Associates, the architect behind the 43-story Caoba tower, is leading the design with New York City-based AvroKO named as the interior designer.
The development site is specifically located on the northeast corner of the intersection between North Miami Avenue and Northeast 6th Street, made up of two parcels of land spanning 24,000 square feet which was acquired by Miami First LLC, the joint venture between Related and Merrimac, for $12 million back in December 2021. At 31 stories, YIMBY estimates the structure will likely range between 290-feet to 320-feet in height, based on the standard 9-foot ceiling heights plus any additional enclosures or crown features built above the roof level. The project will sit directly across the street from the 70-story Okan Tower site at 555 North Miami Avenue and south of Caoba at 698 Northeast 1st Avenue.
“The sales launch of the Crosby comes during a period of immense activity for Miami’s real estate market, with downtown Miami one of the key beneficiaries,” said Nick Pérez, senior VP of Related. “Buyers are looking for multiple ways to live and invest, and the Crosby allows them to do both within the city’s most notable address, Miami Worldcenter.”
“Our vision for The Crosby at Miami Worldcenter will capture significant appetite among domestic and international buyers in the market for residential product in the heart of downtown Miami,” said Nitin Motwani, managing partner of Merrimac Ventures. “Our team at Merrimac is looking forward to joining forces with Related on what will be a transformative residential development at the center of Miami Worldcenter’s ‘city within a city’ setting.”
Residences will feature 9-foot-high ceilings with floor to ceiling glass windows, private balconies with every residence, finished interior and exterior flooring, gourmet kitchens with 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 package including recessed lighting, dimmers, and lighting control; brilliant smart-home systems offering seamless personalization with the touch of a button including the ability to control audio, climate, window treatments, and, lighting systems; and a smart keyless entry system allowing you to unlock your door via smart app, door code, keycard, or Apple Watch.
Residential amenities include an expansive rooftop resort-style pool with jacuzzi, cabanas, and grilling stations perfect for entertaining as well as a private rooftop restaurant/bar Italian inspired trellis garden, a fire pit lounge with breathtaking views of the Biscayne Bay and the Miami skyline, a state-of-the-art fitness center featuring saunas and plunge pools, a clubroom with private dining, convenient juice and coffee bar, spacious co-working areas, and a gaming lounge. All common areas will display curated museum quality art. There will be 24/7 security services, high-speed elevators, and controlled property access with 24/7 concierge services.
Related and Merrimac plan to break ground in Q1 of 2023, last approximately two years to complete with an expected delivery date in Q1 of 2025. Units will start from $300,000.