Serhant Selected for New Miami Luxury Waterfront Tower
The brokerage will handle leasing and marketing for the 38-story FiveSixty Waterfront Residences plus Club in Edgewater.
Updated on Oct. 13, 2026 in Apartments
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Aimco has tapped the Serhant brokerage to lead leasing for the new FiveSixty Waterfront Residences plus Club. Located at 560 Northeast 34th Street, the development will feature 114 high-end apartment units.
Why it matters
The development represents a significant expansion of luxury rental offerings in Miami as the city balances new construction with shifts in regional migration patterns. The project secured $228 million in financing to support its construction and upscale amenities.
The tower contains 114 units ranging from 2,300 to 3,000 square feet with monthly rents starting at $15,000. Construction financing includes a $172 million loan from Apollo Global Management and $56 million in preferred equity from Sixth Street.
The players
Serhant
This real estate brokerage firm was selected to manage the leasing and marketing efforts for the luxury rental tower.
Aimco
This real estate investment trust is the developer responsible for the FiveSixty Waterfront Residences plus Club project.
Apollo Global Management
This investment firm provided $172 million in construction financing for the residential tower.
Sixth Street
This investment firm supplied $56 million in preferred equity to support the development.
The details
The 38-story building will offer three- and four-bedroom floor plans and amenities such as a private marina, a padel court, and executive suites. Aimco, which selected Serhant through a competitive bidding process, has confirmed that the property will not permit short-term rentals.
Timeline
Aimco announced the Edgewater multifamily project in 2022.
Construction at the site broke ground in the third quarter of 2024.
Miami-Dade County experienced a net loss of 21,400 tax filers in 2023.
The developer expects initial move-ins to begin in spring 2027.
The building's waterfront restaurant is slated for a late 2027 or early 2028 opening.
Culture Shift
The project reflects a broader trend of upscale, long-term residential construction designed to cater to high-income earners in major urban markets. This positioning attempts to capture demographic interest in Miami's luxury waterfront segment despite recent regional fluctuations in tax filer populations.
Prospective tenants looking for long-term luxury housing in Edgewater can anticipate monthly lease costs beginning at $15,000 for large, multi-bedroom floor plans. Residents will benefit from exclusive building amenities, though the restriction on short-term rentals ensures the property functions primarily as a permanent living space.
The takeaway
The development emphasizes high-end, long-term residential stability rather than the transient rental models seen in other parts of the city. Future residents should verify lease terms carefully, as the property specifically bans short-term rentals to maintain a consistent community environment.
Further reading
For more on the local rental market, explore our Miami Apartments section.
Source note: This article includes information reported by The Real Deal New York.
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