Developers say they have seen an “overwhelming response” at the District 225 tower planned in downtown Miami, with 100% of units now sold.
The 37-story tower is planned to be built without a parking garage.
The project is also unique in that it has a first-of-its-kind agreement with Airbnb allowing direct listing on the platform.
“We launched District 225 as an experiment of sorts. And while we knew this unique product would resonate with buyers, the demand has surpassed even our most optimistic projections,” said Jon Paul Pérez, President of developer Related. “Related has long been at the forefront of trends, and we are proud to once again be at the cutting-edge of the market.”
In a press release, the developers said that groundbreaking is now expected to take place in the third quarter of 2022.
Related Group is developing the project with partners ROVR Development and BH Group.
The developers said the buyer group was diverse, with young professionals, domestic transplants and remote workers who value flexibility among them. Latin American buyers also make up a significant portion of sales, with upwards of 50% of buyers hailing from Colombia, Mexico and Argentina.
Units are being deliver fully finished and furnished.
Atlantic & Pacific will professionally manage the building, with staff trained to handle all aspects of Airbnb hosting, including listing, marketing, maintenance and cleaning.