Faena Residences Miami

Faena Residences Miami is a 68-story, 440-unit tower planned for 90 SW 3rd Street, on the Miami River near downtown and Brickell. Fortune International Group — the sponsor behind four delivered Miami-Dade condo towers since 2004 — is partnering with KAR Properties on the project, with Rafael Viñoly Architects as architect and Bryan O'Sullivan Studio handling interiors.

The project carries the Faena name and hospitality sensibility rather than the beachfront hotel itself; this is a residential tower built around that brand's amenity language and design vocabulary. It is preconstruction today — no vertical work has started, and completion is targeted for 2029, five-plus years out.

No aggregate percentage-sold figure is published. What is on file is a data point rather than a full picture: The Real Deal reported a $30 million penthouse sale described as a record for the building, which tells you pricing is being tested and validated at the top end, even without a broader sell-through number to confirm pace across the full 440 units.

Unit sizes run from 711 to 8,200 square feet across the 440-unit building, a wide spread that covers everything from compact one-bedrooms to full-floor or penthouse-scale residences. Published pricing runs from $1.3 million to $6.8 million; no price-per-square-foot figure or neighborhood comparable band is published in the file, so in-band positioning can't be checked directly against the market.

Interiors are by Bryan O'Sullivan Studio. Beyond that assignment, specific finish packages, included appliances, or unit-by-unit floor plan detail are not in the file — worth requesting directly from the sales gallery before committing to a specific line.

The amenity program is built around Faena Rose, a roughly 45,000-square-foot social and cultural space, alongside Tierra Santa Healing House — a spa built around hydrothermal rituals, botanical steam rooms, cold plunge, red-light therapy and couples' heated stone beds. The pool program is anchored by an infinity-edge pool overlooking the Miami River, backed by resort-style pools with cabanas and full-service hospitality.

Daily-life amenities extend to a padel court, a golf simulator, dedicated fitness and movement studios, a screening room, a billiards room, a library lounge with outdoor terrace, and private boat rides. Dining includes a restaurant with bar, lounge and dining terrace, a private dining room, and The Pistil as a central bar-and-terrace venue.

The site sits on the Miami River near downtown and Brickell — waterfront frontage rather than an interior lot. The only nearby project on file, Riverside Wharf, is a 9-story development to the north expected to complete in fall 2028, cited with only a partial view impact — a minor constraint rather than a threat to the tower's principal sightlines. No flood-zone or transit data is published.

Fortune International Group, founded in 1983 and based in Miami, has delivered four Miami-Dade condo towers since 2004: Jade Residences at Brickell Bay (2004), Jade Beach and Jade Ocean in Sunny Isles Beach (2008, 2009), and Jade Signature in Sunny Isles Beach (2018). That is an actual completed track record, not a first-time sponsor profile, and it partners here with KAR Properties.

The exact controlling entity for this specific project — FRM Associates LLC, versus Fortune and KAR acting as licensors — is not fully clarified in the public record, a disclosure gap worth clarifying with the sales team rather than a mark against the sponsor's build history.

The deposit schedule totals 30% of purchase price by twelve months after groundbreaking: 5% at reservation, 5% at 45 days from contract signing, 10% at 120 days from contract signing, and 10% at twelve months after groundbreaking. No escrow percentage above Florida's statutory 10% threshold is disclosed, and no construction loan amount or named lender is on file — both worth asking for directly before funds move.

Rental and short-term leasing policy is not published, nor is an HOA or CAM figure, nor a percentage-sold number. For a preconstruction deposit at this stage, all four are reasonable questions to put to the sales team before signing.

Location (7) and developer (7) are the strongest categories: a river-facing site near downtown with minimal near-term sightline risk, backed by a sponsor with four completed Miami-Dade towers. Value (7) and market momentum (7) lean on the same data point — a reported $30M penthouse sale — as evidence of pricing traction at the top of the range, absent a full sell-through figure. Liquidity (7) reflects the Faena brand's resale and rental pull in a deep luxury market, tempered by the wide 711–8,200 sq ft unit mix that will make resale comps vary by unit type.

Delivery (4) and buyer protection (4) are the categories to weigh hardest: this is preconstruction, five-plus years from completion, with no financing disclosed and deposits reaching 30% well before any construction loan is confirmed on file. The overall score of 6.2 sits where you'd expect for a branded, well-sponsored project still at the earliest capital stage.

This suits a buyer with a long hold horizon who is comfortable underwriting brand and location ahead of full financing visibility. It does not suit a buyer who needs near-term delivery certainty, a confirmed rental policy, or published sell-through before committing capital.