PTM Partners & The Estate Companies Launches Soleste Grand Central Leasing
Co-developers PTM Partners (PTM), a real estate investment and development firm with a focus on Qualified Opportunity Zones, and The Estate Companies (EIG), a leading developer of multi-family projects throughout South Florida, announced today the launch of leasing at its newest residential development Soleste Grand Central, Downtown Miami’s first large-scale opportunity zone project. Completion is scheduled towards the end of Q2 2021.
Located at 218 NW 8th Street in Miami’s Overtown neighborhood and steps from Miami Central Station, the 360-unit, 18-story Class-A multifamily development offers studios to three-bedroom residences ranging from 400 to 1,085 square feet.
“Our goal for Soleste Grand Central was to add a heightened vitality to Downtown Miami, more specifically Overtown, contributing to the area’s shift in becoming a 24-7, walkable, mixed-use community,” said Robert Suris, managing principal, The Estate Companies.
“In addition to its high-end design, we highly prioritized the amenity package at Soleste Grand Central, transforming 15,000 square feet of ground-floor retail into a sophisticated co-working, lobby, and café space,” added Jeffrey Ardizon, principal, The Estate Companies.
Designed by Florida-based architectural and engineering firm Caymares Martin, the 230,430-square-foot project features wood-style porcelain flooring and modern kitchens with stainless steel appliances, chef’s islands, custom cabinets, quartz countertops, and subway backsplashes. Residences boast master en-suites and private balconies, in-unit washer/dryer, walk-in closets, keyless electronic door entry, and more.
“We are confident Soleste Grand Central will exceed the expectations of the members of the immediately surrounding community while attracting the newcomers as part of South Florida’s steady population surge,” stated Michael Tillman, CEO of PTM. “If COVID-19 taught us anything in the real estate industry, it’s that the need for accessible housing options that provide premium amenities, especially large outdoor spaces, are valued at a premium by the resident. We have ensured to deliver that with nearly an acre of indoor and outdoor amenity spaces at Soleste Grand Central.”
In addition to its sleek design, Grand Central offers approximately 34,000 square feet of outdoor and indoor amenity space, including:
440 parking spaces, including car charging stations
Resort-style pool with spa, sun deck, and private cabanas
Rooftop lounge with bar, BBQ grills, large-screen TVs, life-size chess, etc.
A state-of-the-art fully-equipped fitness center with high-tech cardio equipment and free weights
Yoga and spin studio
Spa with steam room, sauna, and massage therapy services
Game room with billiards, poker, table tennis, and air hockey
Indoor children’s playroom
Dog spa and “bark park”
Resident lounge with cyber café
Library with conference facilities and business center
Flexible office spaces for rent
Livly mobile app for residents
Soleste Grand Central is in close proximity to entertainment venues and cultural institutions such as the American Airlines Arena, James L. Knight Center, and Pérez Art Museum Miami, as well as parks like Bayfront Park and Maurice A. Ferré Park.
As a transit-oriented development, Soleste Grand Central is situated steps from the MiamiCentral Brightline Station – a new 11-acre complex that will offer shopping, dining, and the city's first food hall. The project is also near the Metrorail, Metromover, bus lines, and soon, the Tri-Rail commuter rail.
The Downtown/Overtown area has been steadily growing its mix of residential, hotel, and retail offerings, including the opening of nationally acclaimed Red Rooster two blocks away, the celebrity chef Marcus Samuelsson’s first domestic outpost outside of Harlem in New York City. Other notable neighboring developments include Marriott Marquis Miami Worldcenter convention center and CitizenM, a 348-key micro-hotel.
Professionally managed by Rivergate KW Residential, prices for Soleste Grand Central begin in the $1,500s per month for a studio. For more information about Soleste, or to schedule a virtual or in-person tour, visit the website at www.solestegrandcentral.com.
ABOUT PTM PARTNERS
PTM Partners (PTM) is a real estate investment and development firm, with an initial focus exclusively on Qualified Opportunity Zones. PTM Partner’s Opportunity Zone Fund has already resulted in three development projects across multiple asset classes and a soon-to-be-announced fourth project. Founded by Nicholas Pantuliano, Michael Tillman, and Scott Meyer, all former executives of the Lefrak Organization, PTM seeks community-oriented development opportunities that create substantial value for its residents, partners, and investors. With an eye towards long-term value creation for all stakeholders, PTM focuses on making investment decisions that balance reputation and long-term profitability over short-term revenue maximization. The PTM team has collectively invested, developed, constructed, and managed more than $12 billion in real estate covering a broad range of mixed-use development projects in Florida, New Jersey, New York, and Washington, D.C. For more information, please visit www.ptmpartners.com.