Domus Brickell Park, a 12-story condominium development by North Development—a strategic joint venture between Ricardo Dunin’s Oak Capital and Edifica, one of Peru’s most prominent developers and builders—is gearing up to break ground next month. This milestone follows the successful conversion of reservations to contracts, with over 50% of the 171 residential units already sold, including the project’s sole commercial space. Located at 1611 Southwest 2nd Avenue in Miami’s Brickell Financial District, the project introduces the Domus FLATS concept (Flexible Apartments for Temporary Stays), blending luxury hotel convenience with rental income opportunities for owners, sparking significant interest in the community.
Designed by Zyscovich Architects with Urban Robot Associates as the interior designer, Domus Brickell Park will feature 171 fully-furnished studio, one, and two-bedroom units, each offering a sense of home with private balconies, keyless entry, premium appliances, and finishes, including in-unit washers and dryers. The building’s amenities are set to include a 4,200-square-foot central space, a café, a wine bar, a gourmet market, a lush garden lounge, a gym, a steam room, a rooftop pool deck, cabanas, a hot tub, and a bike share program.
Domus Brickell Park. Credit: North Development.
Domus Brickell Park. Credit: North Development.
Founding Partner of North Development, Kurt Kehoe, remarked on the project’s success, stating, “This is a major milestone – a defining moment punctuated by tremendous marketplace demand. We have taken our collective decades of experience in high-touch hospitality and exclusive branded condominium residences to reimagine the outdated condo-hotel concept through this new and innovative form. The subsequent interest has been overwhelming, as evidenced by these results.”
With delivery expected in the winter of 2025, units are available ranging from $500,000 to $1.2 million and from 330 square feet to 947 square feet. The Domus FLATS model emphasizes operating efficiencies to reduce owner costs, featuring high-level hotel management and services such as a 24-hour valet by a company with luxury hotel experience in the U.S., a reservations platform comparable to major hotels and airlines, and the Domus App for seamless check-ins and services, complemented by a 24/7 concierge. Exclusively brokered by Cervera Real Estate, Domus Brickell Park launched sales less than a year ago and has now achieved over $55 million in sales.
Domus Brickell Park. Credit: North Development.
Domus Brickell Park. Credit: North Development.
Juan Carlos Tassara, cofounder of Edifica, highlighted the uniqueness of Domus FLATS, stating, “There is simply no concept quite like Domus FLATS. Buyers can enjoy the property, and when they opt to rent their units, guests benefit from a concept envisioned not just as a condominium but as a hotel, promoting future business and stability for owners.”
Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate noted the project’s exceptional appeal among buyers, crediting the developer for leveraging the advantages of short-term rentals while mitigating potential downsides.
Domus Management, a subsidiary of North Development created to service Domus-branded projects, brings decades of industry experience to ensure consistency, efficiency, and professionalism in the short-term rental process, aiming for repeat guests. Dunin concluded, emphasizing the win-win nature of the project for both owners and renters, rooted in the team’s extensive hospitality experience.
The developer signed a water and sewer agreement with Miami-Dade earlier this month to connect the development to the city’s utility system. Thornton Construction Company Inc. will serve as the general contractor. MTCI Private Provider is the permit expediter.
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