Tula Residences Tops Out as North Bay Village's First New Condo in Over a Decade

• Bayshore Grove Capital topped off Tula Residences, a 21-story, 54-unit luxury condominium in North Bay Village.
• The project secured a $67 million construction loan from S3 Capital and is expected to deliver in Q3 2027.
• Pacific & Orient Properties is serving as project developer, with Compass Development Marketing Group joining Brown Harris Stevens for sales.

North Bay Village’s New Luxury Condo Milestone

A new waterfront condominium is moving closer to completion in one of Miami’s emerging luxury residential markets.

Tula Residences has reached its topping-off milestone, marking a major construction achievement for the boutique project that is expected to become the first new condominium delivered in North Bay Village in more than a decade.

Led by Bayshore Grove Capital with Pacific & Orient Properties as project developer, the 21-story tower will introduce 54 private residences overlooking Biscayne Bay and the Miami skyline.

Construction Momentum Builds After $67M Financing

The construction milestone follows Tula’s recent $67 million construction loan from S3 Capital, helping advance the project toward its anticipated 2027 completion.

As the building moves closer to delivery, the development team has expanded its sales efforts by bringing in Compass Development Marketing Group to join Brown Harris Stevens as co-listing broker.

The brokerage partnership will focus on marketing the remaining residences as buyers increasingly seek boutique waterfront properties outside Miami’s most established luxury corridors.

Inside Tula Residences

Designed by M77R (“matter”) with interiors by Shannon Farrell Design, Tula Residences is positioned as a private waterfront retreat with a highly curated amenity package.

The building will feature a limited collection of two- to five-bedroom residences, including six penthouses across the upper three floors.

Residences range from approximately 1,590 to 2,440 square feet, while penthouses will span approximately 3,700 to 4,140 square feet.

Every residence is designed as a corner unit, allowing for expansive views of the bay and Miami skyline. Pricing begins below $2 million, offering a lower entry point compared with many new luxury condo developments across Miami’s waterfront markets.

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Resort-Style Amenities Drive Buyer Appeal

Tula will offer approximately 18,000 square feet of amenities focused on wellness, entertainment and resident gathering spaces.

The sixth-floor amenity level will include a resort-style pool deck with private cabanas overlooking Biscayne Bay.

Additional features include a 2,400-square-foot fitness center, sauna, great room with marble fireplace, private dining room, Skyline Club Room, theater, waterfront lounge and 24-hour concierge services.

The project aims to combine the privacy of a boutique condominium with the lifestyle offerings typically found in larger luxury developments.

North Bay Village Attracts New Investment

North Bay Village continues to gain attention as developers look for waterfront opportunities with access to Miami’s major employment and lifestyle destinations.

Located between Miami and Miami Beach, the neighborhood provides proximity to the Miami Design District, Wynwood Arts District, Downtown Miami and Miami International Airport.

For investors and landlords, Tula Residences reflects the broader trend of luxury development expanding into emerging Miami submarkets where buyers are seeking waterfront living, limited inventory and new construction.

With construction now topped out, Bayshore Grove Capital’s project moves into its final phase as North Bay Village prepares for a new wave of residential growth.