Miami World Trade Center

Miami has become known internationally as the Gateway to the Americas, and this project is located in its central urban core, utilizing the City’s highest available zoning. It will be one of several major projects that will transform the area into a world class showplace with every possible amenity within footsteps of the front door. We anticipate that the appeal of the International Trade Center in the building, with a 5 star hotel as an ancillary attraction, will propel Unit Sales to exceed $1000 per square foot, making this building one of the most desirable in South Florida.

Miami is rapidly evolving, and the central core will soon become its mecca for dining, shopping, and entertainment, making it the most desirous neighborhood in Miami Dade County. The weather is spectacular; the taxes are low; and the prices are relatively affordable compared to other major cities, making the area exceptionally appealing to South and Central Americans, Europeans, and wealthy citizens from all parts of the United States. The Project will benefit dramatically from the accelerated changes in Miami’s overall economy and well being, as well as its increasingly opulent lifestyle.

The project is anticipating sales at a blended average of $1000 per square foot for all components of the building: residential, condo hotel, and condo office. The expected sellout is estimated at a minimum of $860 million, and with a projected cost of $487 million, the projects expects a net profit of at least $217 million (rounded figures throughout). The land, the current Holiday Inn, and all the approved plans and associated permits are for sale currently for $105 Million USD.

The plan has calculated hard construction costs, including all FF&E at $327 million, or approximately $380 per net salable square foot. Soft costs, including Marketing and Sales, and Financial costs, are estimated at $160 million, or approximately $185 per net salable square foot for a total project cost of $592 million, leaving a profit of $268 million, or 30.58% of Sales. The current value of the Property is approximately $129MM based on the existing approvals in place to build a 75 story, multi use building with 1,439,352 FAR square feet.