Mercedes-Benz Places Miami

By Josh Stein · Florida license SL3057661 · Updated 8 October 2026Leer en español →

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3-bed condo under $2M House with a pool in Miami 2-bed for rent

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Photo courtesy of Beaches MLS New For sale Photo 1 of 10

$3,295,000

5 bd 4 ba

Listed 1 day ago

3236 SW 64th Avenue, Miami, FL

Listing courtesy of Fortune Christie's International Real Estate

Photo courtesy of Beaches MLS New For sale Photo 1 of 4

$6,950,000

5 bd 5.5 ba 1,996 sqft

$3,482/sqft · Listed 1 day ago

464 NE 55th Terrace, Miami, FL

Listing courtesy of One Sotheby's International Realty

Photo courtesy of Beaches MLS New For sale Photo 1 of 10

$5,675,000

6 bd 6.5 ba

Listed 1 day ago

2380 NE 196th Street, Miami, FL

Listing courtesy of Miles Goldstein Real Estate

Photo courtesy of Beaches MLS New For sale Photo 1 of 10

$569,000

1 bd 1 ba 551 sqft

#3005 · $1,033/sqft · Listed 1 day ago

11 NE 6th Street #3005, Miami, FL

Listing courtesy of Cervera Real Estate Inc.

Photo courtesy of Beaches MLS New For sale Photo 1 of 10

$625,000

2 bd 2 ba 944 sqft

#3609 · $662/sqft · Listed 1 day ago

501 NE 31st Street #3609, Miami, FL

Listing courtesy of Brickell Brokers LLC

Photo courtesy of Miami MLS New For sale Photo 1 of 10

$719,990

5 bd 3 ba 2,451 sqft

$294/sqft · Listed 1 day ago

21221 SW 125 PSGE, Miami, FL

Listing courtesy of Lennar Realty Inc

Listing information is deemed reliable but is not guaranteed and is provided exclusively for consumers' personal, non-commercial use. Data is supplied by the MLS and may be subject to change or withdrawal without notice.

Last updated 14 minutes ago

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✓Verified 24 September 2026The Real Deal, Bisnow, Florida YIMBY +12 more15 sources

Sources

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Mercedes-Benz Places Miami at dusk above Biscayne Bay — developer rendering

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The garden pool at Mercedes-Benz Places Miami — developer rendering

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The arrival and porte-cochere at Mercedes-Benz Places Miami — developer rendering

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The residents' lobby at Mercedes-Benz Places Miami — developer rendering

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A residence kitchen at Mercedes-Benz Places Miami — developer rendering

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A bedroom at Mercedes-Benz Places Miami — developer rendering

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A primary bathroom at Mercedes-Benz Places Miami — developer rendering

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A residence living room over the bay at Mercedes-Benz Places Miami — developer rendering

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A residence living and dining room at Mercedes-Benz Places Miami — developer rendering

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The rooftop pool at Mercedes-Benz Places Miami — developer rendering

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The public park at the base of Mercedes-Benz Places Miami — developer rendering

Mercedes-Benz Places Miami is the subject of a foreclosure suit, and The Real Deal reported on 3 August 2026 that construction has stalled. Days after taking over the loan on 24 March 2026, an affiliate of Cottonwood Group filed suit in Miami-Dade Circuit Court seeking $80.4 million in principal plus interest and fees (Bisnow, 6 April 2026, which says the suit was filed the week before), with interest accruing at $53,621 per day after 30 March (The Real Deal, 6 April 2026). The suit alleges the loan was due on 15 January 2025 and was not repaid; JDS’s affiliate has filed its own suit against the lender. As of 24 September 2026 the latest report I have found is dated 3 August 2026, and I have not found a source that says the foreclosure was resolved, the new financing closed or construction restarted.

This page exists because a buyer considering a deposit here — or holding one — needs the actual record, not a rendering. Everything below is dated and sourced. If you have money in this building, the section on the deposit questions below is the one to read first.

What happened at Mercedes-Benz Places Miami, in order?

• November 2020 — JDS closes on the assemblage: $9 million for 191 SW 12th Street and $14.5 million for adjacent land, about $23.5 million in all (The Real Deal, 25 November 2020). The Real Deal’s February 2024 article gives the year as 2019; the county’s deed dates are November 2020.
• 2022 — Maxim Credit Group provides an $86 million loan (Bisnow, 6 April 2026; The Real Deal, 13 May 2026). Its maturity, late 2023, is repeatedly extended. The Real Deal’s 6 April 2026 article gives $85 million and July 2015 for the loan; the sources are not reconciled.
• 26 February 2024 — the Mercedes-Benz branded project launches sales, with prices from $500,000 per the project’s website and completion expected in 2027 (The Real Deal).
• 15 January 2025 — the maturity date given in the foreclosure suit; the suit alleges the loan was not repaid (Bisnow, 6 April 2026).
• March 2025 — formwork is rising above ground on Tower 1 (Florida YIMBY, 24 March 2025). The Real Deal later reported that construction stalled in 2025 (3 August 2026).
• 24 March 2026 — the loan is taken over by CWRE SSF Flamingo Capital, an affiliate of Los Angeles-based Cottonwood Group (The Real Deal, 6 April 2026).
• Early April 2026 — foreclosure suit reported on 6 April (Bisnow says it was filed the week before), seeking $80.4 million in principal plus interest and fees. Bisnow, citing the South Florida Business Journal, reported six construction-lien foreclosure suits against the JDS affiliate named as borrower. The Real Deal reported on 8 April 2026 that the 2027 completion is delayed.
• April 2026 — the City of Miami notifies JDS that its affiliate has defaulted under the public benefits agreement, which requires an $8 million fire station; the deadline was 15 March (The Real Deal, 3 August 2026).
• May 2026 — on 6 May JDS’s affiliate sues the lender, alleging it breached a non-disclosure agreement (Bisnow, 12 May 2026). In its court filings JDS says it has received requests for rescission and expressions of concern from approximately 10 percent of buyers; The Real Deal (13 May 2026) describes the project as partially built yet stalled.
• June 2026 — The Real Deal reports (11 June) that JDS is nearing a deal to bring in Fontainebleau Development as a partner alongside a $1.06 billion financing package; the deal has not closed. Also in June an investor entity in the project, GV Development Group LLC, sues JDS and entities it manages over its investments in three JDS projects, including $30 million in this one, and asks the court to remove JDS’s chief executive from control of this project; JDS says it expects the suit to be dismissed (Bisnow, 8 July 2026).
• 3 August 2026 — The Real Deal writes that JDS is still in talks with Fontainebleau Development, that the financing could close later in the summer, and that subcontractors have filed lis pendens. I have not found a later report.

Financing and Court Record

The numbers matter here, so take them slowly.

The loan was made by Maxim Credit Group, reported as $86 million in 2022 (Bisnow, 6 April 2026; The Real Deal, 13 May 2026, which says an earlier $43 million loan was refinanced); The Real Deal’s 6 April 2026 article gave $85 million and July 2015 instead, and the sources are not reconciled. The maturity, late 2023, was repeatedly extended. The foreclosure suit gives 15 January 2025 as the maturity date and alleges the loan was not repaid. On 24 March 2026 the loan was taken over by CWRE SSF Flamingo Capital, an affiliate of Los Angeles-based Cottonwood Group, and days later that affiliate filed to foreclose (reported 6 April 2026). It claims $80.4 million in principal plus nearly $20 million in interest — close to $100 million in total, with interest accruing at $53,621 a day after 30 March 2026, which is roughly $1.6 million a month by my arithmetic. Those are the lender’s claims, not findings. JDS told The Real Deal and Bisnow that the action relates to a routine loan maturity and that it was in discussions to reach a resolution.

Alongside it, subcontractors have filed liens: Bisnow (6 April 2026), citing the South Florida Business Journal, reported six construction-lien foreclosure suits against the JDS affiliate named as borrower, and The Real Deal (3 August 2026) reports that subcontractors have filed lis pendens to mark their place in line for repayment.

JDS’s affiliate has sued Cottonwood. Its complaint, filed 6 May 2026, alleges Cottonwood breached a non-disclosure agreement by using confidential refinancing information to deal with the original lender and start the foreclosure (Bisnow, 12 May 2026); those are JDS’s allegations, and the articles I read carry no response from Cottonwood. This is contested litigation, not a settled outcome, and nothing on this page should be read as predicting how it resolves.

The unpaid debt is also accruing $53,621 in interest daily after March 30.

The Real Deal, 6 April 2026

What This Means If You Have a Deposit In

This is not legal advice. But if you are holding a contract here, these are the questions to work through, in this order:

• Where is your deposit held, and under what escrow terms? The answer is in your purchase agreement and the offering documents you were given.
• What is your outside date, and has it passed? In its court filings JDS says it received requests for rescission and expressions of concern from approximately 10 percent of buyers (The Real Deal, 13 May 2026). Whether that right is available to you turns on your contract, not on the news.
• Does a foreclosure or a change of sponsor trigger any right on your side? Ask specifically about lender-consent provisions and assignment clauses.
• If a new partner recapitalises the project, what happens to your contract and your price? A rescue is not automatically a bad outcome for a buyer — but the terms are everything.

Do not take the answer from the sales office. Take it from your actual contract and from the escrow agent named in it, in writing.

Inside the residences as planned

Interiors as the developer has presented them — renderings, not photographs.

The Possible Rescue

On 11 June 2026 The Real Deal reported that JDS was nearing a deal to bring in Fontainebleau Development as a partner alongside a financing package of more than $1 billion, put at $1.06 billion and including a C-PACE component, from lenders that include BDT & MSD, according to sources. Earlier, sources had described a $750 million package to The Real Deal (6 April 2026) and a $755 million loan to Bisnow (12 May 2026).

That has not been reported as closed. On 3 August 2026 The Real Deal wrote that JDS was still in talks with Fontainebleau Development, which had yet to confirm and declined to comment, and that financing for this project and for 888 Brickell could close later in the summer. The article says such a deal, if it closes, would rescue the project and preserve buyers’ deposits; that describes what a closing would do, and I have not found a source that says it happened. As of 24 September 2026 that is the latest report I have found, and I have not found a source that confirms the deal closed, construction restarted or the foreclosure resolved.

If you are watching this building, that is the single item to watch.

The amenity levels as planned

The pools and the lobby, from the developer’s own materials.

What Was Planned

The scheme is two towers with 791 condominium residences, a 174-key hotel, about 200,000 square feet of office, health and wellness space and about 130,000 square feet of amenity and hospitality space (Bisnow, 12 May 2026; The Real Deal, 26 February 2024). The Real Deal’s 6 April 2026 article said 800 units and JDS’s own website lists 821; the three figures are not reconciled. JDS’s website credits SHoP Architects for the architecture, Woods Bagot for the interiors and Field Operations for the landscape.

Sales launched in February 2024 (The Real Deal, 26 February 2024), with prices from $500,000 per the project’s website, or $550,000 for studios to $4 million for three-bedrooms per Florida YIMBY (27 February 2024). I have not found a published count of units sold or in contract; The Real Deal reported on 8 April 2026, citing a source, that presales were about $450 million.

Note also that JDS is the developer behind 888 Brickell by Dolce&Gabbana, a planned 250-unit tower where The Real Deal reported on 3 August 2026 that construction has not begun and that JDS was working on $640 million in financing, according to a source.

The tower as planned

Mercedes-Benz Places shown from the bay, the park and the arrival.

Brickell Around It

The site is at 191 SW 12th Street next to Southside Park (The Real Deal, 3 August 2026). JDS’s website says the redesigned Southside Park is meant to connect to The Underline’s Brickell Backyard and to Metrorail, and the county files these folios under the neighbourhood name Brickell West.

For context on how this project compares with the rest of the market, the Miami Pre-Construction Delivery Tracker records 38 South Florida towers as of 4 August 2026: 22 have moved their delivery date at least once and 14 are selling with no construction loan reported by any source.

In the research: Miami Pre-Construction Update — August 2026