Black Salmon, the Boschetti Group, and Constellation Group are collaborating with hospitality executive Sam Nazarian to develop a new branded condominium tower in Miami’s Edgewater neighborhood. The project, called HQ Residences Miami, will be managed and branded by HQ Hotels & Residences by sbe. This announcement was made by Nazarian during The Real Deal’s Miami Forum on Wednesday. Grammy-winning artist Marc Anthony is also a partner in the project.
The development team includes South Miami-based Boschetti family firm and Coral Gables-based Constellation, led by Eduardo Otaola. Mauricio Umansky and Santiago Arana of The Agency have been selected to lead sales and marketing efforts for the building.
Nazarian explained that HQ Residences aims to address a gap in the local real estate market between more affordable short-term rental-friendly condos and high-end units priced above $3 million. “There’s a lot of luxury residential projects today. One thing we saw was there was a lack of personality and connectivity and collaboration in these towers,” he said.
Camilo Lopez, managing partner and co-CEO of Black Salmon, noted that over 10 brands were considered before selecting HQ for this venture. He stated that nearly 65 developments are currently planned or underway in Greater Downtown Miami, most of which are focused on short-term rentals. In contrast, HQ Residences will function as a traditional condo building with prices starting at $850,000 and averaging $1.5 million.
Lopez added that the project targets Millennials, Gen Zers, and Latino/Hispanic buyers. Units will range from one to three bedrooms with sizes between 721 square feet and 2,074 square feet; eight penthouses will also be included. “One of the biggest challenges in Miami is the entry level [price] is becoming extremely high,” Lopez said. “This opportunity to design this product in this price point makes sense.”
This marks the first residential tower under the HQ brand launched by Nazarian last year. Marc Anthony will play an active role not only in this development but also future branded residential projects for HQ Hotels & Residences by sbe. “[Marc] is somebody who is the face of Miami,” Nazarian said. “Having him be a validator for the largest buyers of residential, the Hispanic and Latino market, it’s very exciting for me to partner with Marc and bring him into his first residential project in South Florida.”
Construction may start as soon as September next year with an estimated completion timeline of about 30 months according to Lopez. Construction costs are expected to range from $1,100 to $1,200 per square foot while presales are projected at around $1,400 per square foot.
The top two floors—about 16,000 square feet—will offer wellness-focused amenities such as yoga studios; hammam; sauna; steam room; plunge pools; bath house treatments; fitness center; treatment rooms; pool deck lounges designed by Kane Sarhan (Founder of The Well); entertainment spaces including Sofia Vergara’s Toma Gourmet restaurant operated with her son Manolo Vergara; Jack’s NYC Coffee; plus Marc’s—a speakeasy curated by Anthony.
Arquitectonica (led by Bernardo Fort Brescia) has been appointed architect while Enzo Enea will oversee landscape architecture duties. DesignAgency along with Craft are responsible for interior design work.
Nazarian previously partnered with Related Group on several branded condo projects across South Florida such as SLS Lux and Hyde Midtown in Miami as well as Hyde buildings elsewhere regionally—and says discussions continue regarding further collaborations under the HQ brand.
