YotelPad Miami, the condo/hotel mixed-use project under construction in downtown Miami, has sold out all of its residential units only 15 months after breaking ground.
The joint venture between Aria Development Group and AQARAT, located at 227 NE Second Street, features 231 residential units, ranging in size from 417-square-foot studios to 708-square-foot two-bedrooms, on floors 15-30 in the 31-story tower.
Another 222 units, branded by the Yotel British chain of boutique airport and city hotels, occupy the lower floors.
Prices on the condo units ranged from $300,000-$499,000. More than half of the buyers were from foreign countries, including Mexico, China and Colombia.
“YotelPad Miami brought the market what it demanded, and to be successful in sales we really had to embrace the local community,” said Peggy Olin, CEO of OneWorld Properties, the firm that handled sales. “Each agent was committed to leveraging our firm’s national and international connections and worked tirelessly to create new relationships in order to and make this monumental milestone possible.”
“YotelPad Miami is important to the diversification of Downtown Miami,” said David Arditi, principal of Aria Development Group, in a release. “It was imperative to bring on a sales team who understood this, which is why we partnered with OneWorld Properties. They truly understand our brand and Downtown Miami’s evolving landscape. We are thankful for the hard work and creativity put forth from their team and are excited to move into the next stages of development.”