The Miami-based Location Ventures, an integrated real estate platform that delivers thoughtfully-designed and fully-connected residential and mixed-use projects, has announced the sell-out of URBIN Miami Beach. The mixed-use development will deliver a combination of 69 turnkey residences, coworking space, and ground-floor retail at 1260 Washington Avenue, an area of Miami Beach with revitalization underway. The project, exclusively represented by ONE Sotheby’s International Realty, commanded an average price of $1,350 per square foot for its residences comprised of micro-style units, comparable to nearby luxury condominiums. The property is slated to break ground this summer and is anticipated to deliver by 2025, once constructed by Winmar Construction.
When complete, URBIN will join the renaissance and expansion currently underway on Washington Avenue and Commodore Plaza – two streets situated in two of the city’s most thriving and in-demand districts. URBIN Miami Beach, designed by architect Touzet Studio and New York interior design studio Meyer Davis, will offer turnkey residences that include 275-square-foot studios, as well as two- to four-bedrooms up to 1,334 square feet. There will be a variety of shared spaces, including an indoor / outdoor living area to foster community, South Florida style. Units are part of a leaseback program that allows owners to stay on property for up to 90 nights per year. While away, the fully furnished residence generates income as part of a managed rental system.
“This sellout showcases the continued demand for an all-in-one product, geared toward professionals who work remote and travel frequently,’ said Rishi Kapoor, CEO of Location Ventures. “The price per square foot is a sign of the times, where high-quality product is dominating the market.”
URBIN is a first-to-market, mixed-use brand that unites design-forward residences for short- or long-term rent with an all-inclusive wellness amenity programming, social activations, lifestyle-oriented F&B outlets and an adjacent co-working space, all in one central address. The URBIN portfolio includes URBIN Miami Beach, as well as URBIN Coconut Grove, where residential sales are also underway, with 60 percent pre-sold in the transformative neighborhood.
URBIN is backed by investors David Martin, CEO of Terra Group; Rudy Touzet, CEO of Banyan Street Capital; the Murphy family of Coastal Construction; former New York Jets and New Orleans Saints linebacker Jonathan Vilma; Gabriel Navarro, Marcel Navarro and Martin Pico of MMG Equity Partners; Marty Halpern of UnitedTranzactions; and a group of owners from Location Ventures.
