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Developers Plans Onyx 2 Condo Tower

MIAMI-BAP-GGM Developers, currently selling the $42-million, 28-story waterfront condominium project Onyx, have decided to develop another tower with 122 units two blocks down the street. The first tower is set to break ground in June, while Onyx 2 has a January ground-breaking planned.

By Melissa Bogdany | Updated on March 30, 2004

MIAMI- BAP-GGM Developers , the developers of Onyx, a 28-story, waterfront condominium project under way in the city, are planning to launch a second tower this summer. Like Onyx, the second tower also will be located on Biscayne Bay, two blocks to the north from the original Onyx on Northeast 28th Street in Miami’s emerging Arts District.

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.

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