Prosper Group’s Ambitious Plans for Luxury Condo Towers in Miami-Dade

Prosper Group, a development firm led by Jay Roberts, is making significant moves in Miami-Dade County with plans for luxury condo towers and is under contract to acquire two prime sites in the area.

Prosper Group has inked a contract for a development site in Brickell at 1040 South Miami Avenue in Miami for $40 million. This 0.6-acre property was previously slated to become a Virgin Hotel with a co-living component, a project spearheaded by Richard Branson’s Virgin Hotels and Blue Jay Capital. However, those plans fell through. Roberts signed the contract for the property in June and expects to close the purchase in the first half of 2026. The property is currently owned by FX South Miami LLC.

Roberts envisions partnering with a local condo developer to construct a condo-hotel with up to 300 residential units, aiming to build "the healthiest building in Miami." The site is also part of a proposed expansion of Miami-Dade County’s rapid transit zone, potentially allowing for increased residential density.

In North Bay Village, Prosper Group is under contract to buy adjacent properties at 1681 and 1725 Kennedy Causeway for $30.5 million. These properties are immediately west of Ian Bruce Eichner’s planned Continuum Club and the Shuckers site, which Eichner’s firm recently acquired for redevelopment. Prosper plans to close on these sites later this year and will work with developer John Jacobson, known for co-developing the Six Senses resort in Ibiza.

The North Bay Village assemblage will be developed into a luxury condo tower with up to 147 units, including a waterfront restaurant. Presales for this project could launch in the first half of next year. Property records show that 1681 North Bay Village LLC, led by Tharani Haresh, and 1725 Kennedy Causeway Owner LLC are the sellers.

These projects mark Prosper Group’s first developments in South Florida. The Miami Beach-based firm is also co-developing a $600 million condo-hotel in Tampa called Ora Hotel and Residences. With these acquisitions, Prosper Group is poised to make a significant impact on the South Florida real estate market.

North Bay Village is experiencing a development surge. In addition to Prosper Group’s plans, Ian Bruce Eichner has multiple projects in the pipeline, Mikael Hamaoui’s Riviera Horizons is planning a Pagani-branded condo building, and Related Group and Macklowe Properties are assembling land for a phased luxury condo development. Additionally, the Ansin family’s Sunbeam Properties is planning a major mixed-use development north and south of the 79th Street Causeway.

Prosper Group’s ambitious plans for luxury condo towers in Brickell and North Bay Village signal a strong entry into the South Florida market. With a focus on high-end developments and strategic partnerships, Jay Roberts and his team are set to reshape the skyline and offer new luxury living options in these prime locations.