CLIENT NEWS: Michael Stern’s JDS launches sales for Mercedes-Benz branded Brickell condo tower
March 4, 2024JDS Development Group is launching sales of its planned Brickell tower to be branded Mercedes-Benz, marking the German carmaker’s first North American condo project.
The previously un-branded 67-story mixed-use tower at 191 Southwest 12th Street will be called Mercedes-Benz Places in Miami, according to a press release. It comes on the heels of Mercedes-Benz debuting its first residential real estate project, Mercedes-Benz Places in Dubai. The luxury carmaker launched the 65-story, $1 billion tower in January with Emirati developer Binghatti.
New York-based JDS, led by founder and CEO Michael Stern, won approval from the city of Miami to build the tower in 2020. In exchange, he agreed to build an $8 million firehouse for the city of Miami, and $5 million into public benefits, including a redesign of Southside Park. Stern secured an $86 million construction loan for the development in 2022. He bought the site for $23.5 million in 2019. Stern commissioned SHoP Architects to design the tower, and plans have since been adapted with the Mercedes-Benz design team, according to the release.
Serhant will lead sales and marketing for the project’s 791 units, the release shows. Floor plans will range from studios to three-bedroom condos, with prices starting at $500,000, according to the project’s website. Construction has already begun and is expected to be completed in 2027, according to the release.
Representatives for the project declined to comment.
In addition to condos, the tower is part of Stern’s 1 Southside Park, which will also have a 174-key Treehouse hotel, 200,000 square feet of office space, retail space, fitness facilities and 130,000 square feet of amenities, the release shows. The project will also have EV charging stations and a car fleet for residents.
As part of the project, New York City-based Field Operations, the landscape design firm headed by CEO James Corner, will redesign Southside Park, the release shows.
Mercedes-Benz joins the pack of luxury brands stamping their logos on South Florida condo projects. JDS has another branded project in Brickell with Dolce & Gabbana, a planned supertall with 259 units. It was previously going to be a Major Food Group-branded tower, before the restaurant group exited the partnership.
