The developer planning the 67-story JEM Private Residences at Miami Worldcenter has given an interview to the WSJ where new details were revealed.

The project is valued at $580 million, the report said.

As previously reported, condos will be located on the top half of the tower, and will have a separate entrance and amenities.

Completion of the project will take around four years.

Developer Naftali Group is said to have a strong following in New York, and is known for building luxury residential products with ‘robust amenities’ and beautiful lobbies. “He always gets financing,” a broker told the paper.

Miki Naftali told the paper that now is a good time to build condos in Miami, with the city now “competing head-to-head with any major city around the world.” Construction prices appear to be also now be softening, he noted.
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