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Harvey Hernandez

Cashflow In Miami
October 4, 2021
Harvey Hernandez's Newgard buys land on the Miami River and starts Lofty Miami!!

99 SW 7th St, Miami River, FL 33130

The purchase price was $50,5 million. And preconstruction friends and family is being offered at this time.

Tower 1 – branded luxury apartments

Tower 2 – branded condos

Tower 3 – branded hospitality

There will also be a marina on the Miami River, along with restaurants and a connection to the Underline.

In total, there will be close to 2 million square feet of development. Buyers will be allowed to rent their units on a short-term basis through platforms such as Airbnb.

The first tower will rise 34 stories high, overlooking the river, and will feature 320 fully furnished and finished units. These units will be fully furnished and are fully licensed for daily, weekly, and monthly short-term rentals. Owners can utilize platforms like AirBnb, VRBO, as well as manage on their own. The units will feature 800 to 1,200 square-foot floor plans with studio to 2 bedrooms options. Prices will start in the low $500,000.

Internationally acclaimed architecture firm, Arquitectonica is behind the design of the development.

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