Naftali Group Tops Out Podium at 67-Story JEM Private Residences With $465M Construction Loan

Key Points:

•  Naftali Group topped out the podium at JEM Private Residences, advancing vertical construction on the 67-story tower
•  The 273-unit luxury condo project is backed by $465M in construction financing
•  Located in Miami Worldcenter, residences will begin on the 43rd floor to maximize skyline and water views

Vertical Construction Underway in Miami Worldcenter

Podium construction has officially topped out at JEM Private Residences, marking a major milestone for the 67-story condominium tower rising at 1016 NE 2nd Avenue in Downtown Miami. Developed by Naftali Group, the project has completed its 11-story podium structure, which houses the lobby, retail space, and structured parking. Crews are now advancing the reinforced concrete superstructure as the tower climbs higher within Miami Worldcenter. Groundbreaking began in April 2024, and completion is targeted for Q4 2027.

$465M Construction Financing Signals Confidence

In 2025, Naftali Group secured $465 million in construction financing, reinforcing lender confidence in Miami’s luxury condominium pipeline despite moderating sales velocity across parts of South Florida. The podium completion de-risks the project structurally and marks the shift into full vertical build-out, a key inflection point for both buyers and capital partners. For investors, large-scale condo projects backed by strong sponsorship and institutional debt continue to move forward in prime urban nodes like Downtown Miami.

 Design and Luxury Positioning

The tower is designed by Arquitectonica, with interiors by Rockwell Group and landscape architecture by EDSA. JEM will deliver 273 condominium units, ranging from studios to four-bedroom residences. A limited collection of Sky Villas featuring interiors by FENDI Casa will occupy the uppermost floors. Notably, residential units begin on the 43rd floor, positioning owners above much of the surrounding skyline with views of Biscayne Bay and the Atlantic Ocean.

 Miami’s Condo Pipeline Holds Momentum

Miami Worldcenter remains one of the largest urban master planned developments in the country, attracting institutional capital, hospitality, retail, and high-end residential investment. The podium milestone at JEM reflects continued momentum in Miami’s luxury condo sector, even as financing markets remain selective nationwide. Well-capitalized developers with premium products and strong branding continue to break ground and climb.

Final Thoughts

With its podium complete and $465M in financing secured, JEM Private Residences is officially moving into its vertical phase. For developers and investors watching Miami’s condo market, the message is clear. Trophy product in core districts with experienced sponsorship still commands capital and buyer demand in today’s cycle.