North Development is leveraging the soccer craze the FIFA World Cup has unleashed to sell the last units in its nearly delivered short-term rental condo project.
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The Miami-based developer is offering two tickets to one of the FIFA World Cup games to be played in Miami for buyers of units at Domus Flats Brickell Park.
Since starting to offer the tickets with the condos about four months ago, the developers sold roughly 20 of Domus Flats' 45 remaining units, Domus Brickell Park Vice President of Sales Lorenzo De Santis said Friday.
About 90% of the buyers at the 12-story, 171-unit project are Latin American investors, making the World Cup a perfect incentive for potential buyers, De Santis said.
"They love it," he said. "They are saying, 'Really? You're going to give me two tickets?' Some of them try to ask us for more tickets."
North Development, a joint venture between Ricardo Dunin’s Oak Capital and Miami-based Edifica Construction, is celebrating the grand opening of the building on Thursday, less than three months ahead of the June kickoff of the 2026 FIFA World Cup
Domus Brickell Park, at 1611 SW Second Ave., is less than 20 miles away, or about a 23-minute car ride, from the Hard Rock Stadium. The stadium will host seven World Cup matches, including the bronze medal game.
While the developers initially partnered with FIFA to secure tickets for the incentive, they have lately been purchasing the tickets individually, which allows buyers to request the games they want to attend, De Santis said.
Since Miami is hosting the games between Saudi Arabia, Uruguay, Cabo Verde, Scotland, Brazil, Colombia and Portugal, Colombians and Brazilians have been the most prominent buyers since the incentive launched, De Santis said.
"That was the part of the incentive, that the buyer can be the one that tells us which game they want to go," De Santis said.
There are still about 25 fully furnished one- and two-bedroom units left to sell. De Santis said he expects to keep the incentive active for another month or so, depending on which tickets are available.
More than 4,000 condos are under construction in Miami's central business district, adding a major chunk of inventory to a market that has more than 10,000 existing units, according to Miami Condo Supply Tracker.
But not all of those buildings will be ready to welcome residents or guests by the time the world's largest sporting event starts, which De Santis said gives Domus an advantage.
"We think that this would not work as good as it's working if our unit or our building was not finished before the World Cup," he said.
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