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Yotelpad Miami is about to launch sales for its 215 condo units.
Sales will begin in April, with construction to get underway in October 2018.
Prices will start in the $260,000 range, with average prices of $650 per square foot for fully finished PADs, according to a spokesperson for the developer Aria Development Group (parking is not being built).
It is the first Yotelpad to launch on the East Coast. The building will accommodate short term rentals, but details of a rental program have yet to be finalized, the spokesperson said. A two-year leaseback program will be offered.
Luis Chacon of OneWorld Properties will lead sales, the developer said.
“It is very exciting to be a part of a development that is truly unique from anything previously offered in Downtown Miami,” said Peggy Fucci of OneWorld Properties. “We’re seeing a great deal of interest from investors and young professionals who are looking for reasonable square footage at an attainable price point. I believe this project is meeting a much-needed demand in the market for buyers who live a transient lifestyle and want to be in the middle of a bustling, downtown setting.”
A hotel will be on the lower floors of the building, with the PADs located on floors 15-30. The PADs will be finished with “top-of-the-line flooring and lighting,” as well as a dedicated storage unit, according to a press release. Unit sizes range from 425-square-foot studios to 700-square-foot two-bedrooms.