Rilea Group is hoping to tap into buyers’ rock ‘n’ roll energy with its latest condo project, where buyers and residents can drive a fleet of Harley-Davidson motorcycles and relax in a vinyl record lounge.
The Miami-based firm is launching sales of a short-term rental-friendly project in Wynwood called The Rider at Wynwood, according to Rilea President Diego Ojeda. Ojeda said he even trademarked the phrase, “Take a ride on the wild side,” a play on Lou Reed’s “Take a walk on the wild side.”
The 12-story, 146-unit building, planned for 94 Northeast 29th Street, will be next to Rilea’s Mohawk at Wynwood, a planned 12-story, 300-unit apartment building at 56 Northeast 29th Street. Coastal Construction will be the general contractor for both, Ojeda said. Construction is expected to begin this year.
The Rider at Wynwood, which got its name in part because of its proximity to Brightline’s planned Wynwood station, will have units priced from the $600,000s to $1.8 million. Buyers will face no rental restrictions and can enter their units into a rental program or manage them themselves. Cervera Real Estate is handling sales and marketing.
The units will be delivered furnished, with high-end amenities that include Bertazzoni appliances, Cosentino Dekton countertops and Porcelanosa bathroom fixtures.
Condos offering short-term rental options have become a favorite for investors across South Florida because iInvestors can profit more from renting their units out for shorter periods of time than traditional rentals.
The Rider will have 11,000 square feet of retail space, divided between 5,000 square feet on the ground floor and the remainder for a 6,000-square-foot rooftop speakeasy lounge inspired by Sugar at East, Miami, that will be accessible via two private elevators. The rest of the rooftop will be for residents only.
In addition to the five Harley-Davidson motorcycles the developer purchased, residents will have access to Vespa scooters and electric bikes. He said the Rider is a boutique project “with a lot of soul” that is pushing the edge.
Amenities will include a “reset” spa with cold plunge pools, saunas and IV therapy. Similar to The Bond on Brickell, Rilea’s previous condo project, the developer will display prints from the Morrison Hotel Gallery, Iconic Images and Modern Rocks Gallery, according to the release.
Rilea previously partnered with the Saline, Michigan-based Promanas Group on the Wynwood condo building, but Promanas is no longer involved, a spokesperson for Rilea said.
Property records show the 0.7-acre assemblage for the Rider at Wynwood site previously traded for $12.2 million in 2021. Rilea is working on securing a roughly $45 million construction loan for the project, Ojeda said.
Construction is booming in Wynwood, where more than 2,200 apartments and condos are in the pipeline, according to an analysis by The Real Deal.
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