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.