May 8, 2018 by Brittany Wiggins
Turkish developer and leading enterprise Okan Group announced yesterday the official sales launch of its first U.S. development – Okan Tower. The distinctive architecture planned for the 70-story mixed-purpose property is meant to emulate the silhouette of a blossoming tulip (Turkey’s national flower). Located in Downtown Miami at 555 North Miami Avenue, this innovative addition to the Miami skyline will feature a 294-key hotel by Hilton Hotels & Resorts, 64,000 square feet of ‘Class A’ office space, 236 condo-hotel units starting on the 36th floor, 149 condominium residences starting on the 51st floor, plus four duplex penthouses.
Okan Group Chairman and billionaire, Bekir Okan, credits the city of Miami’s vibrant energy and international fusion for his choice in the project’s location. “It is with great pleasure that we unveil Okan Tower as we embark on a journey to present a bold real estate product in one of the world’s leading destinations,” he added. “In selecting our projects throughout the world, we always seek to establish an impact that will make history. Not only in its design but through its level of experiential elements, Okan Tower will have a transformative effect on the metropolis that will forever change Miami’s skyline”.
The architecture firm behind the tower’s bold design in tribute to Turkish culture is Behar Font & Partners. Okan Tower’s studio, one-, and two-bedroom condo-hotel units will be delivered turnkey furnished, ranging in size from 447 to 1,245 square feet, while its condo-residence offerings will include one- to three-bedroom units plus a den, ranging from 698 to over 2,071 square feet; and 4 duplex-style penthouses ranging from 1,873 to more than 2,142 square feet. Okan Tower will also offer world-class amenities, including high-speed elevators with separate access for various mixed-use components, a sky pool with panoramic views from the 70th floor, outdoor lounge, Hammam spa, state-of-the-art health and fitness center, kids’ playroom, chef and gastro kitchen, movie theater, wine cellar and cigar room, as well as a rooftop restaurant located on the 67th floor.
There’s no doubt that this project will cater to the taste of the foreign buyers so highly accounted for in the past several years of Miami’s residential real estate sales. A 3,000 square-foot sales gallery for the tower already opened in Istanbul, Turkey on May 2nd, complete with a full model residence. The U.S. sales gallery will open on May 10th. Promising sophistication and convenience, Okan Tower’s location is close in proximity to business, entertainment, culture, and the arts – with Perez Art Museum, Phillip and Patricia Frost Museum of Science, American Airlines, the upcoming Miami Worldcenter, and the Brightline Train all within blocks.
Privately funded, the project is already slated to break ground this fall. Pricing for units at Okan Tower starts from $318,500.