CLIENT NEWS: MG Developer, Prosper propose 30-story condo on waterfront site
December 30, 2025MG Developer and Prosper Group filed plans for a 30-story luxury condo tower along the water in North Bay Village.
MG Prosper NBV LLC, a partnership between MG Developer, led by Alirio Torrealba, and Prosper Group, led by Jay Roberts, filed an application to Miami-Dade County’s Shoreline Development Review Committee for the 0.98-acre site at 1681 and 1725 N. Bay Causeway. It currently has an 18,758-square-foot office building that was constructed in 1961.
The developers purchased the property for $30.9 million in 2024.
They are now seeking approval for a 30-story condo with 147 units, 12 guest rooms (often for guests of condo residents), 3,308 square feet of restaurant space, 6,433 square feet of offices, and 272 parking spaces. Miami-based Revuelta Architecture International designed the project.
The condos would be fairly large, with the standard units ranging from 1,027 square feet with one bedroom and a den to 2,701 square feet with three bedrooms. Plus, there would be four penthouses on the upper floors ranging from 2,519 to 3,793 square feet, each with a private pool on the roof of the building.
The unit mix would be 21 one-bedroom units, 31 two-bedroom units, 74 three-bedroom units and four four-bedroom penthouses.
The condo would have pool/amenity decks on the sixth floor and the rooftop.
As for the restaurant, it would be positioned facing Biscayne Bay, near a public “Island Walk” pedestrian path. The office space would be on the second floor. The guest rooms would be on the same floors as the parking deck.
“The project has been designed as a resilient project that benefits the public through superior access to the Island Walk and Biscayne Bay in a manner that consistent with the goals of the Countyʼs Shoreline Development criteria,” Miami-based attorney Graham Penn stated in the application.
There’s been more luxury condo development in coastal Miami-Dade in recent years as more wealthy people move to the area and seek out larger living spaces. The luxury condos also meet the needs of wealthy empty nesters who are looking to sell their expensive single-family homes and “downsize” to a condo with many amenities and services.
North Bay Village has attracted many luxury condo projects in recent years, including Shoma Bay with a Publix, the Continuum Club & Residences, Pagani Residences, and a massive mixed-use project by Sunbeam Properties.
