Tall & Urban News

A new condiminium project is being planned by Aria Development Group and Merrimac Ventures after acquiring a redevelopment site for US$17.5 million. 

The joint venture acquired the former HQ of the International Longshoremen’s Association at 33-55 Northwest Sixth Street for US$11 million from the labor union, records show. Aria and Merrimac also bought a connected site for US$6.5 million from developers Art Falcone and Nitin Motwani. The parcels total 1.2 acres.

Collliers represented Aria and Merrimac, which opened sales for 600 Miami Worldcenter in November 2022. The proposal calls for a 32-story tower with about 600 fully furnished units and no restrictions on short-term rentals, according to online brochures. Prices start at US$395,000.

Earlier in 2022, Merrimac teamed up with The Related Group to buy another Miami Worldcenter development site at 601 North Miami Avenue for US$12 million, which is intended to result in The Crosby, a 33-story, 450-unit condo tower designed to be hospitable to short-term rentals. 

For more on this story, go to The Real Deal.