How are sales going at the 70-story Okan Tower, one of the few condo launches in Miami this year?
Kasim Badak, CEO of Okan Development Group, told The Real Deal last week that 45 units have already been reserved by buyers in Turkey and the U.S. since the project launched in May.
The 890-foot tower will include a total of 389 condo and condo-hotel units. There will also be 294 hotel rooms managed by Hilton, which aren’t for sale.
Buyers are required to place a 10 percent deposit to make a reservation, and up to 50 percent will be required during construction.
Okan will break ground in the fourth quarter of 2018, with completion in 40 to 45 months, Badak said. The developer will self fund construction.
Update: The tower height is 890 feet, not 956.