HomeTravelMiami’s first nightlife-branded condo: Live in Drake’s club
Miami’s first nightlife-branded condo: Live in Drake’s club
December 9, 2021
Ever been home alone, bored, thinking how great it would be to see Drake perform live or get a lap dance from a topless lady? If so, you might want to head to downtown Miami.
That’s where the group behind E11EVEN — an “ultra” club so exclusive that Halsey couldn’t get a table during last year’s Super Bowl, featuring jiggling breasts, world-famous DJs and a cult-like following — is creating a first-of-its-kind branding concept.
They are partnering with New York developer Property Markets Group to create the first nightlife-branded residential tower in Miami — and possibly anywhere.
Originally conceived as a condominium that functioned as a hotel, the 375 units in the 65-story E11EVEN Hotel & Residences have already sold out, earning north of $350 million.
By the time they broke ground on that project on Nov. 11, the developers were already launching the next step: the 461-unit E11EVEN Residences Beyond.
“It’s the first time in PMG’s history that we’ve launched a Phase 2 before breaking ground on the first phase,” said Ryan Shear, PMG managing partner.
Built directly across the street from the original nightclub, the two towers (to be linked together by a sky bridge) will offer residents an affordable place to keep the party jumping. Prices start in the mid-$300,000s and, for the real ballers, head to upward of $25 million.
Rowdy residents will enjoy exclusive perks: a 20,000-square-foot pool venue on the 11th floor operating like a Las Vegas beach club; the country’s only officially licensed Deepak Chopra spa; a wellness center offering yoga, meditation and customized treatments (for the morning after); a casino-style sports lounge with stadium seating and possibly sports betting (depending on changing Florida laws); a state-of-the-art fitness center; a 3,500-square-foot performance space; even a rooftop landing pad for a helicopter.
But the ultimate perk for these drippy buyers is “expedited access” to the original club across the street, where Drake has performed five times — and which has hosted other big names, including 50 Cent, Cardi B, Naomi Campbell and Pitbull.
It’s all scheduled to open sometime between 2024 and 2025.
“We really feel great that we’re in the middle of what in the future people will consider downtown Miami, the best of Miami,” said Michael Simkins, who owns E11EVEN Partners along with Dennis DeGori and Marc Roberts. “E11EVEN is a lifestyle brand, not solely a nightclub. We thought there would be verticals, and now we have clothing and merchandise, an audio/speaker component, even a vodka — but at its core, E11EVEN is a hospitality company.”
Maria Paula Jimenez, a 27-year-old real estate investor from Cali, Colombia, who now calls South Florida home, has bought into the concept. She just dropped $1.13 million in crypto for a two-bedroom, two-bath in the second tower.
“I liked E11EVEN so much,” she said. “They allow short-term rentals and there’s always something going on in Miami, so it will always be booked. But the thing I like most about it is that E11EVEN is the first project allowing crypto sales.”
Jimenez won’t live on-site full-time but will definitely visit, appreciating a property she imagines “like Vegas in Miami.”
Ronnie Sudman is also pumping up the sales volume. The fiftysomething real estate professional who’s been visiting Miami for two decades said he regularly dances away his nights at the club and sees an opportunity to be a part of an “entertainment destination … like Vegas and Dubai fused together.
“The feature I like the best is that the people who are buying in, they’re doing awesome things in business and in life,” he said.
As an “investment,” Sudman bought two units: He paid $900,000 for a one-bedroom in the first tower and $610,000 for a smaller, junior suite in the second. He compares buying at E11EVEN today to his purchase at Miami Beach’s Setai resort 17 years ago, which he said was then on “the city’s outskirts.”
“People thought I was a little crazy then, but they don’t think I’m crazy anymore,” he said. “But I think E11EVEN is going to have a good run.”