Downtown Miami’s Okan Tower will be the state’s tallest building when it opens in 2027, seizing the title from the Panorama Tower with a height of more than 900 feet.
The 85-story Panorama Tower has held the title since 2018 when it opened in downtown Miami. The aptly named Panorama stands 868 feet high.
The Okan, a 70-story luxury skyscraper currently under construction, will be even taller at nearly 908 feet.
Built by Turkish developer Okan Group, the tower’s striking curves are meant to emulate the silhouette of a tulip, Turkey’s national flower.
The $500 million project calls for a 294-key hotel by Hilton Hotels & Resorts, 236 condo-hotel units and 163 “sky residences” condos along with extensive amenities.
Taller buildings are in the pipeline, including the One Brickell City Centre office tower at 1,000 feet, the 888 Brickell by Dolce & Gabbana condo-hotel tower at 1,049 feet and the Waldorf Astoria Residences Miami, also at 1,049 feet, the maximum height permitted by the Federal Aviation Administration.
“That 1,049 is the limit,” Miami Mayor Francis Suarez told the South Florida Sun Sentinel. “All the buildings in Miami are limited by the FAA height restrictions so planes can land safely.”
Miami is home to many of the tallest buildings in the state. There’s a few reasons for that, Suarez says.
“These guys are paying a lot of money for the parcels,” he said.
The higher you go, the more units you can build and the more money you can make. But it’s not just about the money, he added.
“Maybe a little bit of ego,” Suarez said. “I’m sure it’s some of that too.”
The Okan Tower in Miami, shown under construction on Monday, will stand more than 900 feet tall when it opens in 2027. Crews are now working on the 36th floor. (Amy Beth Bennett/South Florida Sun Sentinel)
There’s another reason the sky’s the limit for developers building projects in Miami.
“We’re not controversial when it comes to building height,” Suarez said. “It’s easy to build tall buildings here without having to jump through a bunch of hoops.”
The Okan tower, built by Turkish developer Bekir Okan and designed by Behar Font & Partners, is on the rise at 555 N. Miami Ave.
Construction on the Okan broke ground in 2022 and reached the halfway mark in October, said Ana Povarchik, a sales executive with Fortune Development Sales, residential broker for the tower.
The Okan is expected to open in the second quarter of 2027.
“It’s going to transform the skyline of Miami,” Povarchik said. “It’s going to be iconic and recognizable. There is a fascination with tall skyscrapers. Everyone wants to live on the top of the world. So the taller the better.”
The Okan Tower, still under construction in downtown Miami on Monday, broke ground in 2022. (Amy Beth Bennett/South Florida Sun Sentinel)
The Okan is being marketed as having the tallest rooftop pool in the country.
“No other tower has a pool on the 70th floor,” Povarchik said. “It will have 360 degree views of the sunset and sunrise, which is very unique in Miami.”
Most of the buyers are from South America, Povarchik said.
“I would say 80% of our buyers are from South America,” she said. “We are also selling to people from New York, Toronto and Turkey.”
The Okan Tower in downtown Miami is expected to open in the second quarter of 2027. (Amy Beth Bennett/South Florida Sun Sentinel)
Prices for the condo residences, located on floors 51 to 68, start at $1.25 million. The condos range from 695 to 2,075 square feet.
The hotel-condo residences, located on floors 36 to 50, start at $750,000. They range from 450 to 1,060 square feet.
Amenities include a pool deck with bay views, cabanas and outdoor lounge; fitness center and yoga studio; wellness spa with sauna, steam room and private treatment rooms; a theater; wine cellar and owner’s lounge overlooking the city; a children’s play room; and a full-service business center.
The developer has 62% of Okan Tower pre-sold, Povarchik said.
“We still have 40% to sell,” she said. “But sales are picking up now.”
Susannah Bryan can be reached at sbryan@sunsentinel.com. Follow me on X @Susannah_Bryan