From New York To Miami, The Rinaldi Group Is Making Waves With High-Profile Construction Projects
Two of the nation’s largest construction markets, New York City and Miami, are both inching upward, each shaped by their own distinct economies and development needs.
New York City remains in recovery mode after the pandemic, but a resurgence in investment activity and an uptick in construction have given commercial real estate professionals a sense of cautious optimism.
Miami, on the other hand, is witnessing a construction boom. Miami-Dade County recorded an 8.2% gain in construction jobs from 2024, signaling that development in the region is flourishing.
Whether it’s new development in Bay Harbor, Florida, or interior fit-outs, conversions or renovations in Midtown Manhattan, The Rinaldi Group, a New Jersey-based general contractor, has brought its expertise to both markets. Since 2003, the firm has delivered 7.4M SF of commercial projects across New York, Florida and New Jersey, working predominantly in the multifamily, high-end condo, office and hotel spaces.
“I couldn't be more proud of our team,” said Anthony Rinaldi, president and CEO of TRG. “They're not only hard workers, but they're smart. They live the job, breathe and eat the job. They’re constantly looking at how to make us even more efficient. We’re problem-solvers.”
TRG recently completed projects in New York City, including the ultra-luxurious Mandarin Oriental Residences on Fifth Avenue and a Marriott Hotel in the Financial District comprising two Marriott Brands: The Courtyard and The Residence Inn.
The Mandarin Oriental Residences, Fifth Avenue
Situated in the heart of Manhattan’s Plaza District, the Mandarin Oriental Residences was converted by TRG to high-end condominiums from office space previously occupied by Gucci’s New York corporate headquarters.
After an extensive and complex conversion of the 115K, 20-story office space, the building now stands at 135K SF with 30 stories and 69 residences. True to form, these Mandarin Oriental residences are draped in luxury, with prices running from almost $1.9M to $15M.
“To do this project, a number of things had to happen,” said Rinaldi. “We took an existing 24-story office and tore down the top four floors. To accomplish this, we had to build a structural steel cantilever platform at the second floor eyebrow above the ground-level retail store Coach. In their lease, they were never to have any obstruction in front of their store.”
Rinaldi added that after the building had been partially demolished, his team strengthened the foundation and the structure up to the 20th floor before 10 additional stories were added.
These new floors became the space for some of the building's new residences and mechanical operations as well as new amenities, including a Michelin-starred restaurant called Boulud Privé, a spa, a fitness center and a rooftop pool.
The Dual-Flagged Marriott Hotel, FiDi
In the Financial District, TRG also completed a ground-up construction project comprising 165K SF, 40 stories and 320 guest rooms — 200 rooms under the Courtyard flag and 120 rooms under the Residence Inn flag. Located at 215 Pearl St., property amenities include a fitness center, restaurant, rooftop garden and meeting rooms.
“The logistics were as complicated as they could be,” Rinaldi said. “It’s a 40-story tower with two stories below grade in a very tight area of the city. We put a dewatering system in the ground so that we could get to the bottom elevation.”
Another logistical challenge concerned lifting materials to the top floors. In New York City, Rinaldi said, general contractors “try everything” to avoid using a tower crane because of the added insurance costs.
“You have to have a minimum mandated insurance policy of $80M for your project,” he said. “Once you add a tower crane, you add about $3M to your cost. What we did instead was use a number of different spider cranes, or mobile cranes that can fold up and go into the cab of a hoist, and then bring it up to the desired floor. The shell and core of this building was the most challenging. The interior work was the easy part.”
THE WELL Bay Harbor Islands
TRG is wrapping up construction of THE WELL Bay Harbor Islands — a mixed-use development in the Miami-Dade market consisting of retail, condominium and office space.
Owned by the Coral Gables-based Terra Group, this nine-story development features 65 luxury condominiums, each designed to optimize the residents’ health and wellness. There will be more than 22K SF of amenity space, including a fitness and wellness club that houses vitality treatment rooms, saunas, a bath house, an infrared and sound dome, as well as Miami’s first caldarium — a room designed for hot baths and relaxation.
In addition, THE WELL comprises 95K SF of commercial office and retail space in a U-shaped design to create an open-air feel, Rinaldi said. THE WELL’s office space has even caught the eye of former New England Patriots quarterback Tom Brady, who is moving his investment firm, TEB Capital Management, to the development.
“This project is nearly complete, but it didn’t come without its challenges,” Rinaldi said. “We had restricted work hours because it’s a high-density residential community, so we had to make up what time we missed with extra manpower. There was also an existing storm and sanitary main that went through the footprint of our building. We weren't able to get it relocated prior to really starting construction, so we had to build around it.”
i5 Wynwood, Miami
Wynwood is one of Miami’s trendiest neighborhoods, its streets decorated with murals, boutique shops and restaurants, nightlife and art galleries. In the middle of the neighborhood, TRG constructed an eight-story, concrete coliving building called i5 Wynwood.
Residents can rent a furnished private bedroom and bathroom in a large three- to four-bedroom unit. Similar to a college dormitory, residents live with other apartment mates, Rinaldi said. The building comprises 63 apartment units with 217 bedrooms, encompassing a total of 125K SF.
“Even though this was a coliving space, it really didn't change our approach to multifamily construction,” Rinaldi said. “It was a different type of product for the client, The Related Group, to sell in an area where coliving is popping up more. It's a beautiful building with great amenities, and it's in a hot market. They're doing well with it so far.”
In all of its projects — whether they involve multifamily construction, office repositioning, new hotel or affordable housing — Rinaldi said TRG shines the most when there are high stakes.
“We’re problem-solvers,” Rinaldi said. “When they have a specialty or problematic projects that are impacting their bottom line, that is when developers give us a call.”
This article was produced in collaboration between Studio B and The Rinaldi Group. Bisnow news staff was not involved in the production of this content.
Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.
