Caoba Miami Worldcenter Opened In January With 444 Apartments, Now 75-80% Leased

The 43-story Caoba Miami Worldcenter is nearly full just months after opening.

Caoba opened in January with 444 apartments for rent. Pricing is above $3 per square foot, with the least expensive units starting at close to $2,000 per month.

In two separate interviews this week, Worldcenter managing partner Nitin Motwani said the building was mostly occupied.

The Herald reported that Caoba is 75 percent leased, in an article published October 22.  In Miami Today, Motwani was quoted as saying that Caoba was 80% leased in an article published October 15.

A high occupancy rate could spur the developers to begin building the second tower at Caoba, which will rise 40 stories and include 411 units. Permitting for the second tower is complete and the project is shovel ready.

Also at Miami Worldcenter, the 43-story Luma apartment tower is now rising with 431 units, while others are in the planning stages including Kenect.

Paramount Miami Worldcenter is now either 90 percent or 95 percent sold, according to separate account in Miami Today and the Herald. There have been 250 closings as of earlier this month.