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Demolition Under Way on NeoVertika Site

MIAMI-Two warehouses are being destroyed to clear the way for the $80-million, 36-story loft condo tower on the Miami River here. Coastal Construction has been hired to build the 443-unit project.

By Melissa Bogdany | Updated on May 27, 2004

MIAMI-Demolition has begun on two warehouses on the future site of NeoVertika, an $80-million, 36-story, 443-unit loft condominium tower planned for the city. The demolition is taking place on a 2.2-acre site at 690 S.W. 1st Court in Brickell Village, on the South Bank of the Miami River. NeoVertika is locally based developer Neo Concepts LLC’s second project on the river.Coastal Construction plans to begin construction after the demolition is complete. The project also is planned to include flats and about 20,000 sf of ground-floor retail space.NeoVertika is more than 90% sold with prices of the two-bedroom, two-story splits starting in the low $300,000s. The units have 20-ft ceilings and floor-to-ceiling windows. Amenities include a volcanic rock sauna, an aromatherapy steam room, thermal waterfalls, a fitness center, a racquetball court, a cigar parlor, a rooftop lounge and a dog park.Neo Concepts also developed Neo Lofts, a 199-residence loft condominium development completed recently Downtown at 10 S.W. River Dr.

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