Downtown Miami’s under-construction 31-story YotelPad tower is now completely sold out.
All 231 condo units have been sold, just 15 months after sales launched (75 percent of units were sold in 9 months). The developers say the project is the fastest selling high-rise condominium project in Miami, breaking records.
No parking garage is being built.
Completion of Yotelpad is scheduled for 2021. Vertical construction began last month following a foundation pour on August 10.
More than half of buyers came from Mexico, China and Colombia. Owners can place their units into a leaseback program and there will be no restrictions on short-term rentals.
OneWorld Properties oversaw sales. Since it was founded, the broker has had over $3 billion in residential sales in the U.S., with international buyers account for 80 percent and offices in Shanghai, Beijing and Shenzhen.
Developer Aria Development Group and One World Properties will be hosting a private event in October to acknowledge the sales team and outside brokers involved in the sellout of Yotelpad.
