Ricardo Dunin, Edifica propose 29 – story condo -hotel in Brickell

Project would be developers’ second planned Domus-branded building in Miami’s financial district

Oak Capital’s Ricardo Dunin and Edifica’s Juan Carlos Tassara with a rendering of the project in Brickell (Oak Capital, LinkedIn, Zyscovich)

Developer Ricardo Dunin and Peruvian firm Edifica propose a 459-unit condo-hotel in Brickell, marking the partners’ second Domus-branded project in Miami’s financial district.

Dunin, founder of Miami-based Oak Capital, and Edifica want to develop a 29-story building on a half-acre lot at 221 and 229 Southwest 11th Street, according to the developers’ application filed to Miami-Dade County in June. They have the site under contract for an undisclosed amount.

The pair, who plan the project through their North Development firm, are asking Miami-Dade for a pre-application meeting with county departments’ staff members. Generally, the meetings are held before developers file official applications.

A rendering of the project in Brickell (Zyscovich)

The project, called Domus Flats II, would consist of 303 studios, ranging from 247 square feet to 453 square feet; 121 one-bedroom units at roughly 520 square feet; and 35 two-bedroom units, ranging from 662 square feet to 709 square feet, the filing shows.

All will be condos that buyers can rent out through hotel operator Domus Management.

Designed by Zyscovich, the project also would include 1,500 square feet of restaurant space.

The development site is a block west of the Brickell Metrorail station and consists of two lots. Angela and Maria Sharkey and Peter Formica own one of the parcels, and the other is owned by a trust led by Donald and Sophie Schrager, according to property records. The property now is home to a pair of one-story apartment buildings with five units combined.

The project would rise about four blocks north of the developers’ first planned Domus-branded condo-hotel at 1611 Southwest Second Avenue. That project, called Domus Brickell Park, would consist of a 12-story, 171-unit condo hotel, with prices ranging from the $400,000s to about $1 million. It is not yet under construction.

Dunin started Oak Tree, a development, investment and acquisition firm, in 2020. He previously was a founding partner at Lionheart Capital, according to his LinkedIn. One of the projects he co-developed was Ritz-Carlton Residences, Miami Beach. In the 1990s, he developed the Mutiny Hotel and former Sonesta Coconut Grove condo-hotels.

More recently, his Oak Capital and Edgardo Defortuna’s Fortune International Group are partnering on the two-tower Ritz-Carlton Residences, Pompano Beach, which is under construction.

Edifica, led by Juan Carlos Tassara, is a developer and fund manager based in Lima that has built more than 64 projects, according to a North Development news release issued in March announcing the Domus Brickell Park project.

Brickell, historically an office hub for financial firms with some condo towers, has morphed into more of a residential neighborhood in recent years. This year, developers have filed a flurry of apartment and condo project applications, which promise to add more towers to Brickell’s growing canyon of skyscrapers.

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