CLIENT NEWS: Alta Developers begins closings at Quadro at Design District

A year after completing a residential project near the Miami Design District, Alta Developers started recording closings at Quadro.

The firm, led by principal and CEO Raimundo Onetto, originally planned the 198-unit, 12-story development as a rental tower, then changed course and launched sales earlier this year as a condo project offering long-term and short-term leases. Plans for the building at 3900 Biscayne Boulevard were first announced in 2016.

Onetto said in a press release that the move-in ready units are “incredibly desirable” and offer flexibility with length of lease “in these uncertain times.” Buyers can purchase units furnished with amenities for short-term renters.

Projects with short-term rental options such as YotelPad and Natiivo Miami are not yet completed.

Units at Quadro start at $300,000 and include studios, one-bedroom and two-bedroom units ranging from 548 square feet to 1,280 square feet. The two-tower project connects at the shared sixth-floor amenity level that features a pool deck with views of Biscayne Bay and the Design District.

Fortune International Group’s Fortune Development Sales is handling sales of the project. Last month, Quadro announced that it secured New York registration to market and sell units in New York.

Behar Font & Partners designed Quadro at Design District. Alta also included more than 500 art pieces and installations created by artist Francisco Del Rio. The building has more than 26,000 square feet of ground-floor retail space. Interlude Home is leasing nearly 4,000 square feet. The Comras Co. is handling retail leasing. – Jordan Pandy

Published December 4, 2020 in TheRealDeal.com

Note: The firm provided subdivision and permitting advice to Alta for the Quadro project.