Key Takeaways

  • Miami’s STR market will soon be getting 49 new hotel condos priced $500K-$1M with no minimum stay restrictions for owners and operators
  • Wave Group, Vitrium Capital and Zambala target 2028 completion in Miami’s Wynwood arts district
  • The project adds to a pipeline of competing STR-friendly developments in the same neighborhood and delivery window

Miami’s STR market just gained a new boutique entrant.

Wave Group Development, Vitrium Capital, and Zambala Luxury Apartments have launched sales for , an eight-story project that will offer 49 hotel condominiums designed for short-term rental operations.

Construction starts later this year with completion targeted for 2028.

The units allow stays as short as one night.

According to The Real Deal, prices range from $500,000 to over $1 million for studios through two-bedrooms spanning 400 to 900 square feet.

What investors are buying into

MKDA and AvroKO designed the project with hospitality-style operations in mind.

Amenities include a fitness center, coffee bar, and co-working spaces, plus 3,000 square feet of ground-floor retail.

Related: 7 insurance gaps that leave most STR owners exposed

Wave Group principal Alessandro Ferretti leads the Miami Beach-based developer.

Vitrium Capital, headed by CEO Federico Gagliardo, operates across Miami, Paraguay, Uruguay and Argentina.

Property management platforms increasingly support these turnkey condo-hotel models that reduce owner involvement.

The latest round of construction joins a growing pipeline of STR-friendly developments in Wynwood.

PMG and Lndmrk Development launched sales in January for Frida Kahlo Wynwood Residences, a 244-unit project that also permits short-term rentals.

Investors betting on Wynwood’s tourism draw now have multiple branded options entering the same delivery window.