Residential

Alchemy ABR-Investment Partners Acquires Wynwood Development Site For 12-Story Luxury Residential Project

Alchemy-ABR Investment Partners (Alchemy) a fully integrated New York-based real estate development and investment firm, announced the acquisition of 18 NW 23rd Street in Miami’s Wynwood Arts District. The 36,079-square-foot property was purchased by Alchemy for $18,000,000 in a deal that closed on September 29, 2022. The mixed-use site will be developed into a 12-story luxury residential building with 186 units, multiple retail spaces, and a parking garage. Local architects Arquitectonica and MKDA have been commissioned to design the building with construction commencing in 2024.

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Okan Tower Gets Slight Height Reduction In New FAA Filing, Permits For Tower Cranes Filed

An October 5th filing at the Federal Aviation Administration (FAA) reveals Okan Tower, the 70-story mixed-use skyscraper planned for 555 North Miami Avenue in Downtown Miami, has gotten a slight height reduction. New building permit applications show the massive tower would rise 893 feet, or 906 feet above sea level, a decrease of 9 feet from the previously planned 902 feet and 915 feet above sea level. The tulip-inspired tower is designed by Behar Font & Partners for developer Okan Group. It will be anchored by Hilton Hotel & Residences and yield 399 residential units mixed between condos and condo-hotel units, a five-star resort-hotel with 316 rooms, 67,588 square feet of Class A office space, and nearly 3,000 square feet of retail/commercial space. Civic Construction is the project’s general contractor, located on the southeast corner of the intersection between North Miami Avenue and Northeast 6th Street.

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