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Miami's Miami River Neighborhood

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AVERAGE LIST PRICE
$
895,188
AVERAGE LISTING $/SQ FT
$
663
RENTAL LIST PRICE
$
3,881
AVERAGE RENTAL $/SQ FT
$
3.65

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Welcome to Miami River

the experts

Our condo expert agents live and breathe Miami condos and South Florida area condos every day. We never stop learning, so that we can guide you to the Miami or South Florida condo that suits you best. Browser our site full of exclusive insider info at your leisure, and reach out anytime. We are here to help.
Expert Sep Niakan

Sep

Niakan

President / Lic. Real Estate Broker
Expert Evan Schechtman

Evan

Schechtman

Lic. Real Estate Associate
Expert Eric Lieberbaum

Eric

Lieberbaum

Lic. Real Estate Associate
Expert Stephanie Bienstock

Stephanie

Bienstock

Director of Luxury Sales
Expert Jessica Turner

Jessica

Turner

Lic. Real Estate Associate
Expert Vera Berezhnaya

Vera

Berezhnaya

Lic. Real Estate Associate
Expert Tatiana Rodriguez

Tatiana

Rodriguez

Lic. Real Estate Associate
Expert Katia Bon

Katia

Bon

Lic. Real Estate Associate
Miami River District Gets Long-Awaited Transformation with $185M Wharf Redevelopment

Real Estate News

Downtown Miami

Miami River District Gets Long-Awaited Transformation with $185M Wharf Redevelopment

Bringing mega hospitality and entertainment to the Miami River District just west of Downtown, Miami voters approved a 50-year lease extension on The Wharf, and in doing so, have given co-developers MV Real Estate Holdings, Driftwood Capital, and Merrimac Ventures the green light with their plans to create $185 million hospitality and entertainment destination for this industrial area of Miami. Located at 114 SW North River Drive, the parcel in question is currently home to an outdoor entertainment venue called The Wharf. While the Miami River district is a favorite for dining by boat and yacht at the likes of Kiki on the River and SeaSpice, this new approval by voters means the otherwise industrial marine area can now be redeveloped to include a world-class entertainment complex that would help revitalize the Miami River district – one of the last few undeveloped areas of Downtown that have been waiting to get a facelift. ### Get Ready to Welcome Miami’s new Riverside Wharf by 2025 Designed by Jon Cardello of Cube3 architects, the waterfront hospitality project will be known as the Riverside Wharf. Housed in two 10-story buildings, developers aim to build and deliver: * A 165-key Dream-branded luxury hotel, also managed by the Dream Hotel Group * A 30,000-square-foot nightclub and rooftop day club * A 12,000-square-foot event hall * 16,000 square feet of signature restaurants * A private marina with room to dock megayachts * A new seawall and connection to the public riverwalk that links to Brickell and Downtown * A revamped and extended version of The Wharf Miami Expected to break ground by the second quarter of 2023 and be completed by 2025, The Wharf will remain shut during the course of construction. ### What does The Wharf’s redevelopment mean for Miami River and its Neighbors? Developers in Miami have been in overdrive over the past two years, trying to satiate the heightened demand for luxury housing created by businesses and wealthy families relocating from the likes of New York, San Francisco, and Los Angeles. And while Downtown Miami has already entered its next phase of gentrification with the Flagler Street renovations almost complete and the Bayside Marketplace closing for an upgrade, the Miami River district has been in need of revitalization. The addition of this brand-new entertainment and hospitality complex will not only help connect the riverfront project to the rest of Downtown but also be a bonus for residents in neighboring condo buildings. Residents of the 32-story Flagler On The River next door and the 18-story Neo Lofts across the river stand to gain the most. Also, those in the newly launched and completed Elser Residences & Hotel, upcoming Aston Martin Residences, plus Waldorf Astoria Hotel & Residences will now be less than 5 minutes from yet another world-class attraction. ### Terms of the New Wharf Lease In return for accepting the new lease and referendum allowing the 58,000-square-foot hospitality facility to be built, the developer trio agreed to a significant hike in rent and private investment. Miami voters agreed to approve the 50-year lease extension in exchange for a 50% increase in base rent or “fair market rent, if greater.” They also hiked the minimum private investment on the waterfront site from $7 million to $30 million. MV and Driftwood had already been paying more than $200,000 a year in rent to the city since 2016, as part of a 30-year deal. Looking for a luxury residence in the thick of Miami? Want more details on Downtown or Brickell? Call, chat, or email us for direct consultation. Or, subscribe to this blog to stay up-to-date on all the latest preconstruction, lifestyle, and condo-related news in Miami. **ARE WE FRIENDS ON SOCIAL MEDIA?** 📣 Connect with us on Instagram, TikTok and Youtube. 📣

Weekly 6.10.25

Weekly 6.10.25

Weekly 29.09.25

Real Estate News

Weekly 29.09.25