Fortune International Group and Blue Road delivered Nexo Residences, a 16-story short-term rental condominium in North Miami Beach. Built by KAST Construction, the development will soon welcome its first owners and guests.
Located at 13899 Biscayne Blvd., the 254 units are delivered fully furnished. Studio to three-bedroom floorplans, along with a collection of three- and four-bedroom townhomes, range from 531 to 2,438 interior square feet.
Owners will take advantage of Nexo’s rental flexibility, with AvantStay, a hospitality management company and technology platform with a portfolio of 2,700 short-term rental properties across 65 markets. An on-site hospitality team will handle guest check-ins, check-outs and housekeeping on behalf of owners.
Nexo Residences’ suite of amenities includes a three-story arrival lobby; a two-story tech hub with coworking spaces; a luxury pool deck and jacuzzi; three fully equipped summer kitchens; a fitness center with a yoga studio and virtual trainer; and a rooftop observatory deck with unobstructed views to the south.
PTM Partners closed on a $125 million construction loan from GID to finance EDGE Collective II, a 330-unit Class AA multifamily high-rise including 19,000 square feet of retail space in downtown St. Petersburg’s EDGE District. Berkadia arranged the three-year, floating-rate construction loan on behalf of PTM Partners. The financing was arranged by Scott Wadler and...
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Boston continues to be a hub for office conversion enthusiasts, with Kendall Capital planning to convert a landmark office building in Boston’s Financial District into a 155-unit residential property. The 155,000-square-foot project would be financed through historic tax credits, according to a report by Banker & Tradesman. Kendall Capital manager Mai Luo acquired the property...
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A local developer has purchased a commercial unit in Long Island City for $6.1 million, or approximately $407 per buildable square foot, with plans to redevelop the building into high-end condos. Marcus & Millichap negotiated the sale of the now-vacant property at 49-03 Fifth St., which was formerly home to an auto repair shop. The...
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