Carless 31-Story Yotelpad Breaks Ground After Quickly Selling More Than Half Of Units

Yotelpad building is now under construction in Miami, becoming the latest building to break ground without a parking garage. A groundbreaking ceremony was held by the developers this morning.

It is selling fast, with more than 50 percent of units sold in six months. More than 40 percent of buyers are investors from Mexico and China, with a substantial amount of investors also coming from Argentina, Colombia and other South American markets.

“Our team has sold over 18 units per month over the last six months – that is 111 units and counting. This is something we have not seen in Miami in a long time,” said Peggy Olin, president and CEO of OneWorld Properties. “Buyers understand the value and freshness of the YOTEL brand and are looking for flexibility and a prime location. Miami serves as a significant gateway to global markets and has one of the largest financial districts in the U.S. Our team was able to take all the incredible elements of this project and the Downtown area to deliver the right product for this market.”

The project includes two components, with hotel rooms on the lower floors and condos on the upper floors. In total, Yotelpad will include 231 residential units (PADs) and 222 hotel rooms (cabins).

Only the residential units are being sold, located on level 15-31. Sizes range from 417-square-foot studios to 708-square-foot two-bedrooms, with pricing starting in the $300,000s and an average price of $650 per square foot.

Upon completion of the project, Yotelpad Miami will include three Techi robot butlers capable of delivering beverages, food, gifts, documents and more. Two of the robots will be available to residents and one will be designated to guests of the hotel. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings.

Other amenities include concierge services, secure bike storage, matcha bar, full-service restaurant and bar with outdoor seating and private dining, fitness center, co-working space, a lounge, pool deck and pet salon. In addition, each PAD will come with a dedicated storage unit.

Stantec is the lead architect, interior designer and engineer for the project.

“We are thrilled to render our unique integrated services at Miami’s first YOTEL brand,” said Adriana Jaegerman, senior principal in Stantec’s Miami office. “The building’s modern, stylish architecture and sophisticated interiors will make a bold design statement in downtown Miami.”

Completion is scheduled for early 2021.

 

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Anonymous
1 year ago

“latest building to break ground without a parking garage”

Awesome because we need less buildings with giant parking pedestals in the urban core, but also awesome because it means less people posting about buildings with giant parking pedestals in the urban core on this blog.

Not sure which gives me more relief

Anonymous
1 year ago

For this being a building without a parking garage, they sure did a shit job at not making it look like it has a big ass parking garage.

Anonymous
1 year ago

Don’t know Miami 21 that well, but doesn’t the code have weird increasing setbacks as the height of a building goes up?

Miami
1 year ago

SO TRUE!

Anonymous
1 year ago

Why is there a prison at the base?

Anonymous
1 year ago

Hotel units.
This building is a great addition to the downtown core.
Happy it’s under construction.
It will bring lots of foot traffic and hopefully get momentum going that parking in the CBD should be optional and not mandatory

Anonymous
1 year ago

kind of small to really impact an area already full of foot traffic from MDC. Real question is how hotel will perform at this location. Cheers

Anonymous
1 year ago

It looked like a prison in previous renderings when the window placement had that stupid shifting effect which makes buildings look cheap. Undeniably an improvement here.

Anonymous
1 year ago

Ok this made me literally LOL

Sgt. Sapingo
1 year ago

$650/ft for that project is ridiculous.

Anonymous
1 year ago

for small units though

Anonymous
1 year ago

Beautiful infill and its in between to metro mover station so i’m glad it doesn’t have any parking on site.

Anonymous
1 year ago

The hotel portion would have looked a lot nicer with floor to ceiling windows instead of those port holes, and some of their signature purple color on the roof top. Designers take note.

Anonymous
1 year ago

More expensive to build, electricity, cleaning,

Anonymous
1 year ago

Money well spent

Really???
1 year ago

Actually not, at the Yotel price point people aren’t paying extra for a hotel room for the outside of the building to look better. Most people don’t hang out on real estate blogs and focus on the exterior of the building and then pay more for a hotel room because of it. Location, nice lobby, nice amenities, etc. are what they are looking for.

Anonymous
1 year ago

Clearly you haven’t seen that it’s been done before in most of their properties

Anonymous
1 year ago

Centro not yotel pad is biggest building without parking garage

Anonymous
1 year ago

Loft 2

Magazine
1 year ago

700sq ft two bedroom apartments at $650/sq ft? hahaha 🙂

Anonymous
1 year ago

“The building’s modern, stylish architecture and sophisticated interiors will make a bold design statement in downtown Miami.”
such a not true statement!!!

Anonymous
1 year ago

The robots will solve all the problems

Anonymous
1 year ago

700 SF 2 BR units!! Closet sized bedrooms?

Anonymous
1 year ago

Reminds me of Vancouver BC where some bedrooms measure out about 8 1/2 by 9 in so called luxury buildings in the suburbs and can be priced at nearly $1000 cdn per sq foot.

Anonymous
1 year ago

How did commenters miss this?

Anonymous
1 year ago

Condo units this size not having parking is not such a leap, but not so for the hotel.

POLO
1 year ago

Another BOX!

Anonymous
1 year ago

Great Building ..this is the only Building I would think about buying ..the short term rental rights are gold !

Anonymous
1 year ago

What a great investment! NOT

Anonymous
1 year ago

Love it!! Welcome to the future!