The first tower will be an approximately $42-million glass tower with 118 luxury residences, plus 12 lofts. Plans call for Onyx 2 to have 122 units. The number of stories planned was not available. Onyx 2 is being developed on the 1.5-acre former site of the historic Bliss Residence and will have 270 feet of bay frontage. BAP-GGM is buying the land from Intrepid Realty and plans to close on the purchase April 15. Pointe Bank is providing the acquisition financing.

BAP-GGM Developers, a joint venture between BAP Development and GGM Developers, is developing both towers. BAP Development is headed by Willy A. Bermello and Luis Ajamil, and Gustavo Miculitzki heads GGM Developers. Bermello, who co-owns the architecture firm B&A, anticipates construction of Onyx 2 to begin in January.

"With the remarkable response to Onyx, we are confident that Onyx 2 will fulfill the demand for attractively priced urban condominiums in Miami," Miculitzki said in a statement.