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What The Nexo Residences Partnership Includes
Avantstay is expanding its South Florida presence through a new partnership with Nexo Residences, a professionally managed condominium project under development in North Miami Beach. The 16-story property is being developed by Fortunen International Group and Blue Road and is expected to open in the third quarter of 2026. Under the agreement, AvantStay will serve as the preferred property manager and technology platform for the development’s short-term rental operations.

What The Residential And Hospitality Concept Looks Like
Nexo Residences was designed as a hybrid lifestyle project combining residential living, hospitality services, and coworking-focused amenities within a single property. The development will include 254 residences ranging from studios to three-bedroom units, along with a limited collection of townhomes. Units will be delivered fully furnished with European-style kitchens, Bosch appliances, floor-to-ceiling windows, and private owner storage closets. Amenities planned for the property include a resort-style pool, rooftop observatory deck, yoga studio, fitness center, outdoor movie theater, coworking and tech hub, and hospitality-managed guest services. The project reflects the growing popularity of flexible living environments designed to support both residents and remote-working travelers.

What This Means For Hospitality And Residential Trends
The partnership highlights the continued convergence of hospitality and multifamily residential development across South Florida. Rather than functioning as traditional condominiums or hotels, projects like Nexo are increasingly targeting buyers seeking flexible ownership structures that allow both personal use and professionally managed short-term rentals. Developers are also leaning heavily into coworking spaces, technology integration, and amenity-driven programming as remote work continues influencing residential demand patterns. AvantStay’s role includes operational management, guest services, housekeeping, and technology systems supporting short-term rental activity within the building.

What This Signals About The North Miami Beach Market
North Miami Beach continues attracting mixed-use and hospitality-oriented development as demand expands beyond Brickell and Miami Beach. Projects blending residential ownership with hospitality operations have become increasingly attractive to both developers and investors looking to capitalize on South Florida’s tourism economy and migration growth. The addition of branded management partnerships also reflects how developers are using hospitality operators to differentiate residential projects within an increasingly competitive luxury market. Nexo Residences is located at 13899 Biscayne Boulevard and is currently targeting a Q3 2026 opening.

By Oscar Nunez June 3, 2025
Construction has officially topped off at Nexo Residences, a 16-story short-term rental condominium development located at 13899 Biscayne Boulevard in North Miami Beach. Designed by Carlos Ott in collaboration with Frankel Benayoun Architects Inc. and developed by Fortune International Group and Blue Road, the project is steadily progressing toward its anticipated 2026 completion. Nexo Residences is one of the first projects designed specifically for flexible ownership and short-term rentals, with fully furnished units and an array of hospitality-driven amenities.

Recent progress on-site has brought the structure to its full height. The topping-off milestone comes as the development reaches 90 percent in pre-sales, reflecting strong demand among both domestic and international buyers. Fortune Development Sales exclusively handles marketing and sales for the project, comprising 254 units, including studios, one- to three-bedroom residences, and a limited number of three- and four-bedroom townhomes, ranging from 531 to 2,438 interior square feet. Pricing begins in the $599,000s.

“We’re proud to celebrate the topping off of Nexo Residences, an achievement that reflects the strength of the project and the enthusiasm it’s generating among buyers worldwide,” said Edgardo Defortuna, CEO of Fortune International Group. “With buyers from more than 25 countries, Nexo is fulfilling its vision of offering something for everyone—combining flexibility, design, and service in a way that resonates globally, underscoring Fortune’s commitment to creating enduring developments defined by thoughtful innovation and attention to detail.”

Each turnkey unit will include floor-to-ceiling windows, porcelain tile flooring, built-in bedroom closets, lockable owner closets, and expansive balconies with glass railings. Kitchens will be outfitted with European-style cabinetry, quartz countertops, and matte black fixtures. A digital amenity suite will offer smart key access, Wi-Fi in common areas, a self-service package system, and additional tech-enabled property management tools.

Amenities at Nexo will include a three-story lobby and lounge with a café, a luxury pool deck with jacuzzi, three summer kitchens, a fitness center with a yoga studio and virtual trainer, and a rooftop observatory deck. Co-working spaces and a two-story tech hub cater to remote workers, while family-friendly elements include a children’s playground, an outdoor movie theater, and a multi-purpose clubroom. The property is also pet-friendly.

“Nexo is thoughtfully designed as a playground for all ages, with amenities that speak to families, leisure seekers, and professionals alike,” said Jorge Savloff, CEO of Blue Road. “From state-of-the-art coworking spaces to flexible living options, it reflects the needs of today’s dynamic, hybrid lifestyles. What truly sets the project apart is its location in North Miami Beach—a growing destination that offers the best of South Florida living, with proximity to Bal Harbour Shops, Aventura Mall, world-class beaches, and an overall sense of balance that appeals to both visitors and full-time residents.”

Urban Robot oversees the design of Nexo’s interiors, common areas, and landscaping. The Miami-based studio has contributed to high-profile projects such as the W South Beach, the Gucci flagship store in the Design District, and Oasis Wynwood.

In addition to its appeal as a primary or secondary residence, Nexo is eligible for investment under the U.S. EB-5 program. Foreign investors who invest $1,050,000 and meet U.S. Citizenship and Immigration Services (USCIS) requirements may qualify for permanent residency.

Nexo Residences is situated along Biscayne Boulevard near key neighborhoods such as Aventura, North Bay Village, Sunny Isles, and Bal Harbour. The location provides convenient access to both Miami International Airport and Fort Lauderdale-Hollywood International Airport, and is four miles from the Brightline Aventura Station.

Fortune International Group and Blue Road have officially topped off Nexo Residences, marking a significant construction milestone for the 16-story short-term rental condominium in the rapidly evolving city of North Miami Beach. Designed for modern ownership and flexible use, the project continues to gain strong market traction, reaching 90% in sales to date and on schedule for completion in 2026.

“We’re proud to celebrate the topping off of Nexo Residences, an achievement that reflects the strength of the project and the enthusiasm it’s generating among buyers worldwide,” said Edgardo Defortuna, CEO of Fortune International Group. “With buyers from more than 25 countries, Nexo is fulfilling its vision of offering something for everyone—combining flexibility, design, and service in a way that resonates globally, underscoring Fortune’s commitment to creating enduring developments defined by thoughtful innovation and attention to detail.”

With exclusive sales and marketing by Fortune Development Sales, Nexo Residences’ 254 units will be delivered fully furnished. Priced from $599,000s, studio to three-bedroom floorplans, along with a collection of three and four-bedroom townhomes range from 531 to 2,438 interior square feet.

Nexo Residences has garnered considerable interest from buyers who are drawn to the property’s convenient location and rental capabilities, an appealing feature for those seeking the freedom to use their space on their own terms. A dedicated on-site management team further supports owners by handling guest check-ins, check-outs, and housekeeping services during their absence.

Adding to the appeal is the project’s EB-5 Program. To comply, international investors must invest $1,050,000 in Nexo’s EB-5 Program and follow the required process under the United States Citizenship and Immigration Services (USCIS) for eligibility to receive a green card, officially known as a permanent resident status. A limited number of spots remain available.

Each turnkey residence features floor-to-ceiling windows, porcelain flooring, built-in-bedroom closets, dedicated lockable owners’ closets, and expansive balconies with glass railing. European-style kitchens are outfitted with quartz countertops and matte black fixtures for a modern look.

Enhanced digital features, such as smart key access, a self-service package system, and Wi-Fi throughout the common areas, provide ease for owners and guests. Additional tech-driven management systems to further elevate the transient experience will also be introduced in the future.

Blending the necessities of remote work life with inspiration from South Florida as a year-round vacation destination, Nexo Residences’ suite of amenities includes a three-story arrival lobby and lounge with a café; a two-story tech hub with coworking spaces; a luxury pool deck and jacuzzi; three fully equipped summer kitchens; a fitness center with a yoga studio and virtual trainer; and a rooftop observatory deck with unobstructed views to the south. Entertainment offerings include an outdoor children’s playground, a multi-purpose clubroom and private event area, and an outdoor movie theater. The property will also be pet friendly.

“Nexo is thoughtfully designed as a playground for all ages, with amenities that speak to families, leisure seekers, and professionals alike,” said Jorge Savloff, CEO of Blue Road. “From state-of-the-art coworking spaces to flexible living options, it reflects the needs of today’s dynamic, hybrid lifestyles. What truly sets the project apart is its location in North Miami Beach—a growing destination that offers the best of South Florida living, with proximity to Bal Harbour Shops, Aventura Mall, world-class beaches, and an overall sense of balance that appeals to both visitors and full-time residents.”
The project’s design was envisioned by Carlos Ott and realized by the project’s architect, Frankel Benayoun Architects Inc. Its common areas, residence interiors, and landscaping are curated by Urban Robot, the local, full-service design collective behind some of the city’s leading hotels and retail concepts, including W Hotel South Beach, the Gucci Flagship in Miami’s Design District, and Oasis Wynwood.

Nexo, meaning “nexus” in Spanish, is the brand’s ethos as a central point that links two or more things. Located at 13899 Biscayne Blvd., Nexo Residences is near a plethora of business and leisure offerings in Miami, Bal Harbour, Aventura, North Bay Village, Sunny Isles, Hollywood Beach, and beyond. The property is set along the main thoroughfare of Biscayne Boulevard, minutes from the Intracoastal, and is nearly equidistant to Miami International Airport and Fort Lauderdale-Hollywood International Airport, as well as being four miles away from the Brightline Aventura station.

Construction Milestone: Nexo Residences has officially topped off at 16 stories, marking significant progress toward its anticipated 2026 completion.

Strong Sales Performance: The development has achieved 90% in pre-sales, with units starting from the $599,000s, attracting buyers from over 25 countries.

Flexible Ownership Model: Designed for short-term rentals, Nexo offers fully furnished units with no leasing restrictions, catering to modern, hybrid lifestyles.

Nexo Residences, a pioneering short-term rental condominium in North Miami Beach, has reached a key milestone by topping off at 16 stories. This innovative development is redefining condo ownership with its short-term rental-friendly model and international sales appeal.

Breaking Ground, Breaking Molds
Located at 13899 Biscayne Boulevard, Nexo is being developed by a joint venture between Fortune International Group and Blue Road.

The 254-unit building includes fully furnished residences ranging from studios to four-bedroom
townhomes.

Unlike traditional condos, Nexo allows for daily, weekly, or monthly rentals, offering owners complete freedom to lease as they choose.

The building will feature a suite of modern amenities, including a two-story lobby, resort-style pool, co-working spaces, a gym, and electric vehicle charging stations.

Completion is slated for 2026, with construction now shifting focus to interior and amenity buildouts. Why Nexo’s model is drawing international buyers and local investor buzz.

Pre-sales have hit 90%, a strong signal of market appetite, especially among international buyers from Latin America, Europe, and Canada.

Prices start from the high $500,000s, making it a relatively affordable entry point into Miami’s hot short-term rental market.

This model appeals to investors looking to capitalize on South Florida’s tourism economy without the headaches of traditional property management.

The hands-off management style and built-in flexibility also cater to digital nomads and seasonal residents, a growing demographic in the region.

The Bigger Picture: A Sign of the Times

Nexo Residences isn’t just another condo project—it’s a marker of shifting lifestyles and the growing investor appetite for short-term rental-ready units. With its topping-off, Nexo underscores how real estate in South Florida is evolving to meet the demands of a more flexible, globalized market.

Miami real estate has long led the nation in international investment, thanks to its global profile, warm climate, multiculturalism and business friendly environment. Recently, short-term rentals have taken off there due to their ease of ownership and ability to generate income while their owners are in their home countries.

South Florida Agent recently spoke with one of Miami’s biggest developers, Fortune International President and CEO Edgardo Defortuna, about the current market.

Why does Miami remain such an attractive U.S. market for foreign buyers?

It’s really a blend of the lifestyle, economic opportunity and cultural diversity. With year-round warm weather, a thriving job market and a booming economy, it continues to be an ideal place to live, work and invest.

Equally important is its connectivity and cultural openness — a city with a rich mix of cultures where people from around the world feel welcome and at home.

How have the preferences of international buyers in South Florida evolved over the past few years, and which regions are currently driving the most demand?

Over the past few years, we have seen a shift largely influenced by evolving lifestyle patterns post-pandemic. The rise of remote and hybrid work has made flexibility more essential than ever, and as international buyers travel more frequently, they are increasingly drawn to luxury short-term rental opportunities that offer both investment potential when not in use and convenience. These fully serviced, low-maintenance condominiums provide the ideal “lock-and-leave” appeal, ensuring owners can come and go from their home country without worrying about property upkeep.

At Fortune, we’ve seen this shift reflected in Nexo Residences, our short-term rental project in North Miami Beach. With buyers from over 25 countries — particularly a strong influx from Colombia and Mexico — many are drawn to the convenience of a dedicated property management team handling everything from maintenance to cleaning while they’re away.

What are the biggest obstacles international buyers face when purchasing real estate in the U.S., and how can agents help navigate these challenges?

One of the biggest challenges international buyers face when purchasing real estate in the U.S. is navigating the financial and regulatory landscape, from financing and taxation to legal requirements. Agents play a critical role by providing expert guidance at every stage of the process. A well-connected agent can introduce buyers to trusted legal and financial advisors who specialize in cross-border transactions, ensuring compliance with U.S. regulations and structuring purchases in a way that aligns with the buyer’s financial goals. Educating clients on market trends, local real estate laws and investment strategies also helps them make informed decisions. At Fortune International Group, we’ve built a strong network of professionals who streamline the buying process for international clients, making it as seamless and transparent as possible.

Given Fortune International Group’s expertise, what international markets do you see as the biggest opportunities for U.S. agents looking to expand their business globally?

Latin America continues to be the strongest source of international buyers for South Florida. Markets like Mexico, Colombia, Argentina and Brazil present significant opportunities, with buyers seeking both primary and secondary residences that offer stability and long-term value.

What strategies have been most effective in attracting and closing deals with high-net-worth international buyers, and how can agents differentiate themselves in this competitive space?

Successfully attracting and closing deals with high-net-worth international buyers requires a strategic, on-the-ground presence in key foreign markets. Being at industry events, hosting presentations and fostering relationships in these regions are essential. Buyers want to engage with professionals who understand their unique needs and can offer opportunities that align with their lifestyle and investment goals.

For example, our sales team representing ELLE Residences Miami, another project seeing great demand from international buyers, recently attended an event in Mexico during ZonaMaco, capitalizing on the influx of affluent buyers in the city for the event. In a competitive market, it’s about being in the right place at the right time, building trust through direct engagement, and, most importantly, offering the ideal product that meets their expectations.

Given the importance of foreign investment in South Florida real estate, how does it influence the types of properties developers choose to build (ex. EB-5 designated projects)?

Miami remains a top choice for affluent foreign buyers from countries facing political and financial instability who are looking to relocate, fueling demand for secure and efficient permanent residency pathways, such as EB-5 investments. So, in response, developers have increasingly incorporated EB-5 opportunities into their projects. At Nexo, we combined two key drivers for international buyers — short-term rental flexibility and EB-5 designation — resulting in great success in the international market.

Development of the Year: Nexo Residences, Fortune International Group

Nexo Residences features 15 stories and 254 residences and is the first condo project with short-term rental capability in the rapidly growing area of North Miami Beach. Located at 13899 Biscayne Blvd., it presents move-in-ready residences with full home-sharing capabilities, coupled with resort-style amenities.

The property has witnessed remarkable sales success since its launch in 2022, and 70% of the units are currently sold. It continues to attract buyers, too, through its short-term rental offerings, idyllic location and EB-5 investment component. With prices beginning at $600,000, options range from studios to four-bedroom townhomes including 525 to 2,190 interior square feet.

Fortune Development Sales is selling and marketing the development exclusively.

Edgardo Defortuna started his real estate company, Fortune International Group, in Brickell as a platform to sell, and later develop and finance, top real estate in South Florida. Over time, the firm has grown to attract high-earning international buyers to Miami, especially from Latin America and Europe, helping make the area the global hub that it has become. Celebrating 40 years since its creation, Fortune International Group is developing several projects, including Ora by Casa Tua in 1300 Brickell Ave.; Nexo Residences in North Miami Beach; ONE Park Tower by Turnberry, part of the Sole Mia mixed-use community in North Miami; St. Regis Residences in Sunny Isles Beach; and Casa Bella and NoMad Wynwood. Fortune International recently joined forces with Christie International Real Estate to form Fortune Christie’s International Real Estate to service the brokerage side of business.

Although the cost of land and construction is a major issue, there is still much development to be done in South Florida, Mr. Defortuna said. Miami offers the lifestyle that is much desired by international investors and buyers. Mr. Defortuna spoke with Miami Today reporter Monica Correa.
Unique Monthly

He pioneered sales and market aimed at buyers from Latin America. Now he’s seeing a shift in interest. BY JULIA ECHIKSON JUNE 6, 2023
EDGARDO DEFORTUNA AT HIS FORTUNE INTERNATIONAL GROUP HEADQUARTERS IN MIAMI IN APRIL 2023.
By the end of the 1990s, Defortuna and wife Ana Cristina Defortuna took things to the next level by adding a development division to the company. Today, the firm is one the most prominent builders of condos in Miami. Its portfolio spans boutique enclaves like the Herzog & de Meuron-designed Jade Signature condominium in Sunny Isles Beach to high-rise towers across Brickell and branded lifestyle projects with St. Regis and Ritz-Carlton.

Even in this turbulent market, the firm is not slowing down. Case in point is the project branded after Casa Tua, a popular Italian culinary concept that hails from the Magic City. First pitched as a 70-story condo tower geared toward short-term rentals, Fortune in March filed plans to build a development that would feature offices, more condos, and — at 930 feet tall — become one of the tallest buildings in Miami.
Defortuna sat down with Commercial Observer in April to discuss his latest projects, a $500 million condo takeover in Miami Beach that did not work out, and the state of the Miami market.

This interview has been edited for length and clarity.

Commercial Observer: How did you get into real estate?
Edgardo Defortuna: I moved here when I was 23 — like everything else, almost by accident, in the sense that my sister wanted to come here to study to become a medical doctor. My dad convinced her to never go by herself, so she convinced me to come for three months. I’m still waiting for me to come back.
I saw the opportunity to target the Latin American market. Nobody was really focused on it at the time. I realized that people from South America weren’t properly served. I teamed up with lawyers and bankers to make the purchase and selection easy for them and structure it the right way.

How would you say the profile of the Miami condo buyer has changed since you moved here?
It was 60/40 foreign-domestic or 70/30 depending on which location and the project, always the majority being South American, especially for the new product. Since COVID, it’s now more 50/50 or even 60/40 on the other side. For the Ritz-Carlton project we’re doing in Pompano Beach, it’s 85 percent domestic.
For foreign buyers, the developments were more investor-driven. Domestic buyers usually seek primary homes for families. But there are many people like me, who have been living in the U.S. Am I a Latin buyer or an American buyer?

You have a bunch of projects in the pipeline. How’s financing going?
Banks have also seen that the pipeline of multi- family projects has somewhat diminished because of higher interest rates and higher construction costs. That makes the numbers significantly tighter. The big hedge funds and people that love to call these assets for ego purposes have somewhat disappeared from the market.
So the condominium financing is more attractive for some of the banks that understand. They look for experience, pre-sales, a concept they like, and they see if the strength of the sponsorship in terms of capital is as committed as them.
I was pleasantly surprised. Last month, two banks called me and said, “Don’t forget us, because we’re in the market.” The reality is that banks have to place, so they’re just trying to choose the better projects.
Have you secured any loans recently?
We don’t have construction loans — not because the banks aren’t there, but because we don’t have the costs tied up. Some of the prices are totally out of mind.
Can you talk about your partnership with Casa Tua, a popular Italian concept originally from Miami?
We thought that being in the heart of the financial district we should have a building that is the city’s amenity. I told Miky [Grendene, co-founder of Casa Tua] that we should try to do something on my site that has a lobby that is inviting and is open to the public, that can create traffic for the younger crowd that’s coming to Brickell.
Miky came up with the concept of a market in the lobby that has breakfast and is open 24 hours. There will be an area for people to sit down. It won’t feel like the lobby of the condominium.
In 2018, you completed the Jade Signature, which was designed by Herzog & de Meuron. How was it like working with the star architects?
I had a great experience with Herzog & de Meuron.
Me and my wife gave a wish list to the architects of what the units and the public spaces should look like. We had a normal competition between three or four architects to give us their ideas and met with a few in New York.
Then we went to Switzerland to meet with Herzog & de Meuron. We flew eight hours to Zurich and drove an hour to Basel. It was snowing. When we were in the car, Cristina, my wife, said “Why are we doing this? We had two wonderful options in New York. It’s crazy to have to come here.” But then we walked into the conference room and they had a presentation; when they opened their mouths, we knew this was it.
We told them we didn’t want to see a pedestal for the parking and a pool on top. Instead, we want a wall that is connected to the ground, so that the lobby, pool and beach are all on the same level. They said they could certainly put the parking underground. I was shocked since we’re right next to the ocean. But they do it all the time in Germany. There are parking spots that are 10 stories underground right next to the river. It’s expensive and you have to really commit to it.
Another wish was for all the units to have both ocean views and city views. We also asked that the pool not be shaded by the building after 1 o’clock, which is common in Miami. So they tilted the building 30 degrees — without tilting the units.
They came up with every single answer for everything that we wanted to do.
Last year, you launched sales for a St. Regis development in Sunny Isles, but not with other star architects. Why is that?
There were two things. The building was completed in 2018. Unfortunately, the market wasn’t there yet. Buyers, as sophisticated as they may be, don’t want to pay extra for these architects.
The buyer is also looking for a lifestyle. That’s provided by the service and attention to detail of the people that eventually manage and run the building. So you have to associate yourself with a brand. It provides a certain level of certainty.
Those architects also don’t like to do five buildings in the same city. In the case of Herzog & de Meuron, they get between 500 and 600 requests a year, and they take 30 to 40 projects max. So it’s as much a selection process for us as it is for them.
I’d be remiss if I didn’t ask you about One River Point in Downtown Miami, where you’re planning to build a condo tower. The site is across the river from Related Group’s Baccarat site, where prehistoric remains and artifacts were discovered. You sat through the full six-hour city meeting about whether the project could move forward. You’ll be required to do a full excavation, which could be expensive, cause delays and, at worst, cancel the entire project. Are you worried?
We hired the same archaeologist as Related, Bob [Carr]. So far, he hasn’t found anything of significance.
I think what happened with Related was really taken out of proportion. Related did exactly what they were required to do. You can’t take away zoning rights — unless you can pay for it. The city doesn’t have the funds to do anything significant. But, of course, you have to follow the procedures and take real good care of potential artifacts that may be there.
Your son was also at the meeting. Will he take over the business at some point?
I’m very careful about making sure that my children earn it. My oldest, Andres, is now 19. He comes out here to the office and loves it. His face lights up about business.
You’ve been developing in Miami for decades. I’m curious to know your opinion on Terra offering $500 million for Castle Beach Club, an oceanfront condo complex in Miami Beach, after a similar offer from Related Group fell through. (Condo terminations are big these days, with developers paying to buy out owners, then terminate the condo association, and redevelop the site. It’s a tricky proposition because it usually requires buy-in from over 90 percent of unit owners as well as negotiations over each unit’s price.)
We put in an offer for that piece of property and we were relatively close to that number.
Do you mind telling me how much exactly?
It was between $425 to $450 million. But we wanted certainty. We wanted everyone to sign. I’m not going to waste two years of my life arguing with people. That’s what happens in general. If you put one number globally, it’s almost impossible. That’s why the prior offer [from Related Group] fell through. It’s like having a child — it’s the most handsome. If there are so many units, you think yours is better.
There’s also a greed factor. “If they don’t buy my unit, they can’t do this. So I’m going to ask double.” But we have done those types of deals. At the St. Regis residences in Sunny Isles, we bought 346 units and terminated the condo. David [Martin of Terra] is capable.
$500 million is a lot of money for essentially just land. Had you bought it, how would such a deal pencil out?
The price tag is obviously a big issue. There are risks associated with it. But the location and the exclusivity could generate sales over $2.5 billion or something like that. Even though it’s a very high price for land, if you are aggressive in your pro forma you can sell at $3,500 or $4,000 a square foot. There are some small projects in Miami Beach getting those prices per square foot. Then obviously the numbers work.
But obviously you’ve got to have very strong assumptions and a very strong product.
Still, if you told me today that it’s guaranteed for $500 million and everybody signed up, I would have a hard time saying no.
Are you eyeing any condo terminations?
Yes.
Can you tell me more?
Of course