2600 Biscayne Update 04/22/24

Oak Row Equities Officially Breaks Ground on 2600 Biscayne Boulevard in Miami’s Desirable Edgewater Submarket



The Mixed-Use Luxury Tower Has Pre-Leased 50% of its Commercial Space and Recently Secured $181M in Construction Financing from Bank OZK


Oak Row Equities, a vertically-integrated private equity and real estate development company with over $1.6B of development in South Florida, announced the official groundbreaking of 2600 Biscayne Boulevard, a transformative Class AAA multifamily and office tower in the rapidly-maturing Edgewater neighborhood of Miami. Coastal Construction Group, one of the largest general contractors in the Southeast, is the general contractor. Globally-renowned architecture firm Arquitectonica is responsible for the design of the luxurious 41-story building, which will be home to an original public art piece by acclaimed artist Derrick Adams. Vida, a Portland-based full service interior design and interior architecture firm, is designing the interiors. The commencement of construction follows the pre-leasing of 50% of the commercial space, and the closing of a $181M loan from Bank OZK – one of the largest multifamily construction loans to close in South Florida this year.


“We are thrilled to be breaking ground at 2600 Biscayne. We are focused on delivering the highest quality multi-family and office product to the Edgewater submarket,” said Erik Rutter, Managing Partner at Oak Row Equities. “We believe by breaking ground today we will deliver into a supply-constrained market and be well-positioned as the highest quality asset in Miami-Dade County.”


2600 Biscayne comprises an entire city block and is conveniently located one block from the planned Northeast Corridor rail stop. The tower features 187,000 square feet of prime office and retail space and 399 luxurious studio to three-bedroom (plus den) rental residences. With exceptional design, ample private outdoor space, modern finishes, stunning views, and state-of-the-art amenities, these residences will rival new condo construction homes. An elaborate mural will be displayed on the western portion of the facade visible from multiple neighborhoods by celebrated artist Derrick Adams.


"2600 Biscayne will dramatically enhance the caliber of multifamily and office space in Edgewater and really create a new upper tier for these asset classes in South Florida," says David Weitz, Managing Partner at Oak Row Equities. “We are thrilled to be breaking ground on this exciting new project, and are proud to be working with such sophisticated financial institutions who are invested alongside us in South Florida’s bright future.”


"Coastal Construction Group is honored to join Oak Row Equities in breaking ground on 2600 Biscayne Boulevard,” said Patrick Erin Murphy, Executive Vice President of Coastal Construction Group. “We are excited to contribute to the transformation of the Edgewater neighborhood with esteemed partners and look forward to playing a part in delivering this building.”


The residential portion of the tower will begin 135 feet above the ground, ideal for residents looking for the quintessential Miami view. Multiple levels of residential amenities include a pet spa, private lounge, yoga studio, and top-of-the-line fitness center. A wraparound 12th-floor amenity deck will have a lap pool, cold plunge, hot tub, well-appointed cabanas, and BBQ grills. The tower’s 41st floor will feature a coworking lounge and rooftop deck with some of the best views in Miami.


Residents will enjoy a seamless arrival experience via a dedicated residential porte-cochére with lush, covered waiting areas for ride shares. 2600 Biscayne will have EV charging stations and over 600 parking spaces for added convenience.


2600 Biscayne will be Gold Certified National Green Building Standard. The tower’s offices are almost 50% pre-leased and will be located on the first ten floors within a sculptural pyramid-like structure. Office tenants will have access to touchless entry points and elevators to easily divisible floor plates with 14’ ceilings. There will be floor-to-ceiling glass throughout the spaces, private tenant balconies, and a wide range of indoor and outdoor wellness-focused amenities.


Outdoor amenities exclusive for the office tenants include a landscaped rooftop terrace, exclusive padel court, open-air seating, covered picnic areas, an outdoor wellness and yoga deck, and more. Inside, there is a dedicated business lounge, private meeting areas, conference rooms, and an entertainment room with a golf simulator.


Vehicular arrival for office tenants will be via a private porte-cochére and a designated lobby. Dedicated valet and tenant parking will be available along with 24/7 security and access.


Edgewater offers lifestyle amenities such as the lush eight-acre Margaret Pace Park, and robust retail and culinary options. Wynwood, Midtown, and the Design District are moments away. Whole Foods and a Northeast Corridor rail station will be within blocks upon completion. Miami International Airport, I-95, Miami Beach, and Brickell are easily accessible from Edgewater.


To learn more and inquire about leasing and deal opportunities, visit: www.oakrowequities.com.


About Oak Row Equities:


Oak Row Equities is a vertically-integrated private equity and real estate development company. Founded in 2018 by Erik Rutter and David Weitz with offices in New York City and Miami, Oak Row Equities has expertise in acquisitions, development, architecture, construction, asset management, leasing and accounting. Oak Row Equities has more than $1.6B of development underway across four million square feet of Class-AAA real estate. For more information, visit www.oakrowequities.com.


About Coastal Construction:


Award-winning Coastal Construction Group and the Murphy family have been building projects throughout Florida for more than five decades and have become one of the largest general contractors in Florida. Coastal currently has operations in Miami, Palm Beach, Naples, Orlando, Tampa, and the Florida Keys. Coastal specializes in hospitality, single and multi-family residential, education, commercial and mixed-use projects. Their distinguished portfolio includes, among others: Four Seasons Hotel and Residences at the Surf Club; St. Regis Resort & Residences; Residences Bal Harbor; Ritz Carlton Hotel South Beach; Faena Hotel and Residences; 1450 Brickell; Camillus House; Porsche Design Tower; Fendi Chateau; Oceana Condos; Residences by Armani Casa; Aston Martin Residences; and The Plaza Coral Gables. In addition, the Company was the primary builder for Ocean Reef Club, Deering Bay Club, Miami Design District, Miami Worldcenter and Water Street Tampa.

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