Mercedes-Benz Lends Its Name to JDS Development Tower in Brickell
It’s the carmaker’s first branded real estate project in the United States
By Julia Echikson February 26, 2024 3:58 pm
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Now Mercedes-Benz wants to race to the front of Miami’s branded condo competition.
The German car manufacturer is partnering with Michael Stern’s JDS Development Group for a mixed-use development in Brickell, marking Mercedes-Benz’s first foray into branded real estate projects in the United States — joining rivals Porsche, Aston Martin and Bentley, which already have towers of their own.
The 67-story project, called Mercedes-Benz Places, will feature 791 condo units, in addition to a 174-key hotel, 200,000 square feet of office space, 130,000 square feet of amenities and hospitality space, and a parking garage that will include charging stations for electric vehicles.
The 2.5 million-square-foot development is set to rise at 1 Southside Park, just west of Miami’s Metrorail line and just east of Interstate 95. The neighborhood is currently considered the less fashionable section of Brickell, which is known for its glistening office and residential high-rises.
In 2020, JDS Development paid $23 million for the site, which abuts Southside Park. The New York-based developer had initially envisioned the development as a rental, housing 1,175 units.
In 2022, JDS Development secured an $86 million loan to fund the early stages of construction. Initial occupancy is scheduled to start in 2027. Brokerage Serhant is leading sales with prices starting at $500,000.
The project is JDS Development’s second Brickell tower in the pipeline. It’s in the early stages of developing a 90-story tower with luxury fashion house Dolce & Gabbana near the district’s waterfront.
Mercedes-Benz is the latest car manufacturer to strike a license agreement to brand a South Florida condo tower. Gil Dezer kicked off the trend with the Porsche Design residential building in Sunny Isles Beach, which was completed in 2017.
Dezer has now launched sales for a Bentley building, also in Sunny Isles Beach. Other car-branded condos that have sprouted in the region include the Aston Martin Residences in Downtown Miami.
Julia Echikson can be reached at jechikson@commercialobserver.com.
