April 2022

 Blue Road and Fortune International Group have teamed to launch sales of a condo in North Miami Beach that will allow short-term rentals. 

Nexo Residences would have 254 units at 13899 Biscayne Blvd. Bay Harbor Islands-based Blue Road and Miami-based Fortune have the 1.74-acre site under contract from Aventura-based Tomaja LLC. The 36,661-square-foot office building, which was constructed in 1958, would be demolished. 

The developers said Nexo Residences would be the first condo in North Miami Beach with short-term rentals permitted. Some investors prefer short-term rentals as a way to gain additional income by listing the units on home-sharing platforms such as Airbnb. 

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