PMG and E11even's Club Residences Is Complete After $375M Sellout and Loan Payoff

• 65-story, 457-unit E11even Club Hotel & Residences at 20 NE 11th Street is complete; roughly 400 deeds recorded as of June 2026
• Total sellout ~$375M, averaging ~$820K per unit; 90% reserved within two months of 2021 presales
• $149M Starwood Property Trust construction loan paid off in May 2026
• Second tower, E11even Club Residences Beyond (550 units, 90 NE 11th St), on track for May 2027 delivery

The Tower That Sold Out in Two Months Is Done

In 2021, Marc Roberts, Michael Simkins, Dennis DeGori, and PMG's Ryan Shear did something no Miami developer had managed in the post-pandemic frenzy: they reserved 90 percent of a 65-story, 457-unit condo tower within two months of opening presales. Five years later, the building is delivered.

E11even Club Hotel & Residences at 20 Northeast 11th Street in downtown Miami's Park West district is complete. Closings began in March; about 400 of the 457 deeds have been recorded. The roughly $375 million sellout works out to approximately $820,000 per unit on average. The $149 million construction loan from Starwood Property Trust was paid off in May.

"Straight Out of Las Vegas"

The amenity package is built entirely around the E11even brand. The 11th floor holds a day club and pool deck with 22 hot tubs. Below that is an E11even after-hours lounge; above is a rooftop bar operated by Riviera Dining Group. A casino-style sports lounge, a luxury spa, and a Fireman Derek's pie shop outpost round out the commercial program. A hotel component opens later this year. Shear expects around 75 percent of owners to put their units into the hotel pool, a revenue structure that puts the building in the same conversation as Miami's top short-term hospitality plays.

Who Bought

The priciest deed on record: $9 million for a 63rd-floor unit acquired by a company managed by Jeff Walker, president of Alliance Entertainment, the electronics distribution firm. DJ Irie spent nearly $2 million. Spanish soccer player Jesús Fernández Collado paid $340,000. Felix Sabates, a partner in the Chip Ganassi Racing teams, bought a unit on the 38th floor for $650,000; it is now listed for resale at $895,000, a 38 percent premium over his 2021 entry.

The Sky Bridge, the Helipad, and What Comes Next

The second tower, E11even Club Residences Beyond at 90 Northeast 11th Street, is expected to wrap in May 2027. At 65 stories and roughly 550 units, it adds a rooftop helipad, a residents-only E11even social club, The Clayton private social club, staffed executive office suites, and a second pool deck. A sky bridge will connect both towers, giving residents access to shared amenities across the combined two-building campus. PMG backed the second build with $262 million in construction financing in 2023.

PMG's Park West footprint keeps expanding: the firm is also developing 38 West Eleventh Residences, a planned 44-story, 659-unit Airbnb-friendly tower a block away. South of Park West, PMG and partners Greybrook, Mohari Hospitality, and S2 Hospitality are under construction on the Waldorf Astoria Hotel & Residences at 300 Biscayne Boulevard Way, a 1,049-foot supertall that, when complete, will be the tallest building in Miami.