The church will remain intact and is expected to sell the site to the developers for about $240 million<\/a>.\u00a0<\/p>\n Construction could begin by the second quarter of next year and take about four and a half years to be completed, according to Ardid.\u00a0<\/p>\n He called it a good time to launch sales in part because their main competition is all \u201csubstantially sold by now.\u201d\u00a0<\/p>\n Units at the Nobu project range from $3 million to more than $60 million for the penthouses. Pricing is averaging between $2,500 and $2,700 per square foot. Condos will range from one to five bedrooms and from 1,160 square feet to 5,500 square feet.\u00a0<\/p>\n \u201cWe\u2019ve been looking at the calendar and the natural inclination is to get a lot of business done before the summer,\u201d Karsenti said. \u201cBut we\u2019re finding the summer has picked up dramatically because of the World Cup and other action.<\/a>\u201d\u00a0<\/p>\n The branded condo development will add to the surge of branded residential buildings in the mix in Miami. It will mark the first Nobu-branded residential building in South Florida, but Nobu has residential projects in Cabo San Lucas, Mexico, and Toronto. It also has planned developments around the world.\u00a0<\/p>\n Developers and brokers generally agree that the branded condo market<\/a> in South Florida is oversaturated, but most also say a project\u2019s success depends on the type of brand, location and execution of the project.\u00a0<\/p>\n \u201cWhile Miami is a very hot market, it is a sophisticated market. The buyers are very rational. I do think they can detect the difference between substantive quality product and what is strong on marketing,\u201d Karsenti said.\u00a0<\/p>\n The developers are doubling down on wellness with a $25 million budget allocated for the amenities, focused on biohacking and wellness. Residents will have access to Nobu\u2019s menu of services, including cryotherapy chambers, an e-salt cabin, a neural rest therapy pod, hyperbaric oxygen therapy suites, IV and peptide therapy, ozone therapy, and physical therapy facilities, according to a news release. The amenities will total more than 90,000 square feet, including four pools, padel courts, game rooms and sports simulators.\u00a0<\/p>\n Foster + Partners is designing the tower alongside Sieger Suarez, the architect of record. Nobu Hospitality, which is led by CEO Trevor Horwell, is designing the restaurants and cafes.\u00a0<\/p>\n Foster + Partners is also designing Citadel\u2019s planned headquarters tower in Brickell. Ardid complemented the architecture firm\u2019s use of space and said Miami has never had a building like this.\u00a0Nearby, the Related Group plans the 75-story Baccarat condo tower<\/a> across Brickell Avenue, fronting the Miami River. Also nearby on Brickell Avenue, residential developer the Melo Group paid $211.5 million<\/a> for the 2.8-acre development site where Swire Properties and Steve Ross once planned an office supertall.<\/p>\n \tRead more \t\t\t\t\t\t\t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t\tResidential\t\t\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n 13th Floor, Key International launch Nobu-branded Brickell condo project<\/p>\n
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