Building facts
- Address
- 555 N. Miami Avenue
- Neighborhood
- Downtown Miami
- Year built
- 2026
- Floors
- 70
- Residences
- 399
- Status
- Under Construction
- Developer
- Okan Group
- Architect
- Behar Font & Partners
- Pricing
- Starting at $670,000
Verified 26 August 2026Miami-Dade County Property Appraiser5 sources
Okan Tower rising over the downtown Miami skyline
Okan Tower above Biscayne Bay at dusk
The tulip-inspired crown of Okan Tower against the sky
Downtown Miami at night with Okan Tower lit on the skyline
Okan Tower on the Biscayne Bay skyline
The Hilton bar at Okan Tower
The Hilton lobby at Okan Tower
Sky residence bedroom at Okan Tower
Sky residence kitchen at Okan Tower
Sky residence bathroom at Okan Tower
Sky residence living room at Okan Tower with bay views
Residence living room at Okan Tower
Okan Tower — Building Facts
- Address
- 555 North Miami Avenue, Miami, FL 33132 — Downtown Miami
- Status
- Under construction. 50th floor and about 75% structurally complete in April 2026
- Storeys
- 70–72 — sources differ; both are cited below
- Height
- Approximately 902–903 feet
- Residences
- 399 in total — 163 Sky Residences plus 236 Hilton-managed condo-hotel units
- Hotel
- 316-key Hilton Miami Bayfront
- Also
- 56,000–64,000 sq ft of Class A office · 80,000+ sq ft of amenities · a 429-space garage
- Developer
- Okan Group (Turkey) — chairman Bekir Okan
- Architect
- Behar Font & Partners · sales by Fortune Development Sales
- Financing
- ⭐ Self-funded to the 40th floor, then a $200 million C-PACE loan from Bayview PACE, January 2026
- Topping out
- Anticipated August 2026 — ⚠️ no confirmation published as of 26 August 2026
- Delivery target
- 2028
Key Takeaways
- 🔴 This page said “Yr. Built Est. 2025” until August 2026. The delivery target is 2028. It also carried “Prices starting at $670,000”, which I could not source to any published figure and have removed.
- ⭐⭐ The most important fact about Okan Tower is how it has been paid for. When it took its $200 million C-PACE loan from Bayview PACE in January 2026, construction had already reached the 40th floor — and The Real Deal reported that the developer had “self-funded construction of the project so far.” A 900-foot tower built forty floors out of the ground on the developer’s own money is genuinely unusual in this market.
- It is moving fast. Forty floors in January, fifty floors and roughly 75% structural completion by April 2026, at a reported pace of about one floor a week.
- ⚠️ Topping out was anticipated for August 2026 — this month — and I can find no report confirming it happened. I searched The Real Deal, Florida YIMBY, PROFILEmiami and Commercial Observer. That is an absence, not a problem; it is simply the next milestone to watch.
- 🔴 This is two different products in one tower, and the distinction matters. 163 Sky Residences are conventional condominiums. 236 condo-hotel units are managed by Hilton. They are not the same purchase, they will not behave the same on resale, and the rules that govern them differ.
- ⚠️ The county still records the site as vacant land. Folio 01-0106-030-1060 is classified “Vacant Land — Commercial” with no building area and no year built, assessed at $20,079,600 — with a fifty-storey tower standing on it. There is no condominium declaration and no county price record for any home here.
Okan Tower, by the numbers
Developer: Okan Group · Architect: Behar Font & Partners · Starting at $670,000. Source: the building record on this site.
What is being built
Okan Tower is a tulip-shaped supertall at 555 North Miami Avenue, designed by Behar Font & Partners for the Turkish developer Okan Group. Its massing steps outward as it rises, and the stepped floor plates are what produce the flower shape the project is known for.
Have a question about Okan Tower? This page is built from the county record and the trade press, not a listing feed. If you want what has actually closed here, or an honest read on whether it suits you, ask me directly.
The programme stacks four uses in one building:
| Component | Detail |
|---|---|
| Sky Residences | 163 conventional condominium homes, at the top of the tower |
| Condo-hotel units | 236, managed by Hilton Hotels & Resorts |
| Hotel | 316-key Hilton Miami Bayfront |
| Office | Class A — reported at 56,000 sq ft and at 64,000 sq ft |
| Amenities | More than 80,000 sq ft |
| Parking | 429 spaces |
So 399 residential units in total, in two quite different forms. Fortune Development Sales is handling sales, led by Michael Sadov, and the developer has reported buyers from Argentina, Mexico, the United States, Colombia, Turkey, Spain and Denmark.
⚠️ Two specifications do not reconcile across the sources and I am not going to pick one. The Real Deal reports 70 storeys and 903 feet; Florida YIMBY and PROFILEmiami report 72 storeys and 902 feet. Office space is given as 56,000 square feet in January 2026 and 64,000 in April. Both figures are published; take the ranges as the honest state of the record.
The tower
Nine hundred and two feet, seventy floors, and a crown the architects say was drawn from a tulip — the flower of the developer’s home country. It is the tallest thing going up on this block of North Miami Avenue.
How it has been paid for — the part worth knowing
In a Miami market where several large towers have stalled over financing, this is the fact I would put in front of a buyer first.
On 7 January 2026, Okan Group closed a $200 million C-PACE loan from Bayview PACE, the Coral Gables lender. At that point construction had already reached the 40th floor — and The Real Deal reported that Okan had “self-funded construction of the project so far.”
⭐ Read that carefully, because it is unusual. Most Miami towers of this size are built on a construction loan closed before the first pour; a developer that gets forty storeys of a 900-foot building out of the ground on its own balance sheet is in a materially different position from one that is drawing against a lender from day one. It does not guarantee anything — nothing does — but as evidence of capacity it is about as concrete as public information gets.
It is also worth understanding what C-PACE is, because it is not an ordinary construction loan. Commercial Property Assessed Clean Energy financing is repaid through a special assessment on the property tax bill and is secured against the property rather than the borrower, typically funding energy, water and resilience elements of a build. It sits ahead of conventional mortgage debt in the payment stack. That is a legitimate and increasingly common structure — it is simply a different instrument from the $340 million bank loans behind comparable towers, and worth knowing about if you are comparing projects.
Where construction stands
| Date | Milestone | Source |
|---|---|---|
| 8 March 2017 | Site acquired — $18,095,000, recorded as a qualified sale | Miami-Dade County |
| 7 January 2026 | $200 million C-PACE financing from Bayview PACE; construction at the 40th floor, self-funded to that point | The Real Deal and Florida YIMBY, January 2026 |
| March 2026 | Nearing the 50-storey mark | Florida YIMBY, March 2026 |
| April 2026 | Passes the 50th floor — about 75% structurally complete, 22 floors remaining, curtain wall climbing, pace of roughly one floor per week | Florida YIMBY and PROFILEmiami, April 2026 |
| August 2026 | Topping out anticipated — ⚠️ no confirmation found | — |
| 2028 | Delivery target | The Real Deal, January 2026 |
Bekir Okan, the company’s chairman, on reaching the 50th floor: “Reaching this stage of construction is a significant achievement for the project.”
On the topping-out: the trade press expected it this month. I searched The Real Deal, Florida YIMBY, PROFILEmiami and Commercial Observer on 26 August 2026 and found no report of it. I am stating that plainly rather than assuming either way — a construction milestone anticipated for a given month frequently lands a few weeks either side of it, and the coverage follows the event rather than the plan. ⚠️ One caveat: the South Florida Business Journal blocks our requests, so that outlet is unchecked rather than clear.
Arrival and the hotel
The lower floors are a Hilton. That is not incidental to the purchase: the hotel operation is what makes the short-term rental programme upstairs possible.
What the county holds — and what it does not
I pulled the Miami-Dade County Property Appraiser record on 26 August 2026. The project resolves to folio 01-0106-030-1060, recorded under the plat Miami North, Lots 6 through 10, Block 63, on a lot of 33,466 square feet. ⚠️ The county’s address for it is 501 North Miami Avenue; 555 is the marketed address, and a search for 555 returns nothing. That is worth knowing if you go looking for the record yourself.
The owner of record is Miami 6th Street LLC, care of Okan Group Inc. The last qualified sale was $18,095,000 on 8 March 2017.
The classification is where it gets interesting:
| Tax roll year | Assessed value |
|---|---|
| 2024 | $23,209,312 |
| 2025 | $20,079,600 |
| 2026 | $20,079,600 |
The parcel is classified “Vacant Land — Commercial”, with zero building square footage and no year built — while a fifty-storey tower stands on it. That is a county-records lag, not a statement about the building, and it is the same pattern I have found this month at E11EVEN, 2200 Brickell and Oasis Hallandale: the Property Appraiser updates classifications and creates folios on its own annual cycle, well behind physical construction.
⚠️ I would not read anything into the assessed value falling from $23.2 million to $20.1 million and then holding flat, either. Land assessments move for reasons that have nothing to do with a project’s health, and this parcel has been assessed as vacant land throughout.
🔴 The practical consequence is firm: there is no condominium declaration, no residential folio, no assessed value and no county sale history for any home in this building — and there will not be until well after delivery. Any comparable you are shown here comes from a listing service, not the public record.
Sky Residences and condo-hotel units are not the same purchase
This is the distinction I would want a buyer to understand before looking at a floorplan.
The 163 Sky Residences are conventional condominium homes at the top of the tower. You own the home; the usual condominium rules apply.
The 236 condo-hotel units are managed by Hilton. In that structure an owner typically buys a unit that participates in a hotel rental programme run by the operator, with the operator controlling booking, housekeeping and standards, and revenue shared on terms set out in a management agreement. That agreement, not the brochure, is the document that determines what you actually get.
Practical differences worth asking about explicitly:
- How many nights a year may an owner personally occupy the unit? Condo-hotel programmes commonly cap this.
- What is the revenue split, and what is deducted before it? Gross versus net matters enormously.
- Can you opt out of the rental programme, and on what notice?
- How is the unit financed? Lending on condo-hotel units is a narrower market than on conventional condominiums, and terms are usually different.
- What happens if the operator changes? Hotel management agreements have terms and termination provisions.
⚠️ And on short-term rental generally: a Hilton-managed condo-hotel unit is a hotel product by design, but that is a matter of the management agreement and the eventual declaration — not something a county use code settles. What governs is Florida’s state preemption, the City of Miami’s zoning and certificate-of-use position, and the condominium’s own recorded declaration, which does not exist yet. Get all three in writing before a rental assumption becomes part of your purchase.
The Sky Residences
Floors fifty-one to seventy. These are the conventional condominiums — owned outright, occupied on your own terms, and the part of the building that behaves like a home rather than an operating asset.
The condo-hotel residences
Floors thirty-six to fifty. Smaller, furnished, and bought to be let when you are not in them. Read the section above before you read these images as the same product.
What to check before you sign
Which product you are buying. Sky Residence or condo-hotel unit. Everything else follows from that.
The management agreement, if it is a condo-hotel unit. Ask for the actual document, not a summary. The occupancy cap and the revenue split are the two numbers that decide whether the purchase makes sense.
Current pricing, dated and in writing. This page previously showed “starting at $670,000”; I could not source that to anything published and have removed it rather than repeat it. No current price list has been published in The Real Deal, Florida YIMBY or PROFILEmiami, so whatever you are quoted, get it dated.
The deposit schedule and the outside date. Delivery is targeted for 2028 — two years out from a tower that is not yet topped out. Read the outside date and your remedy.
How C-PACE affects you as an owner. C-PACE is repaid through an assessment on the property tax bill. Ask specifically whether, and how, any portion is passed through to individual unit owners, and get the answer in writing. This is a fair question and it has a documented answer.
Who this suits
It suits a buyer who weights execution risk heavily. Forty floors self-funded, fifty floors by April, roughly a floor a week, and a $200 million facility behind it. Against the backdrop of what has happened to some Downtown Miami towers, that record is the strongest argument this building has.
It suits a buyer who actively wants hotel branding and hotel services — a Hilton flag, a 316-key hotel in the building, and more than 80,000 square feet of amenities carried by uses other than the residences.
It suits an office or hotel-adjacent user, given the Class A office component and the Downtown location.
It does not suit a buyer who wants a purely residential building. Four hundred homes sit above a 316-key hotel with the lobby traffic, service operations and turnover that implies. Some people want exactly that; others should look elsewhere on this list.
It does not suit anyone buying a condo-hotel unit as though it were an apartment. It is a different instrument with a different lending market and a different exit, and the management agreement governs.
And it does not suit a buyer who needs certainty on 2028. The topping-out anticipated for this month has not been publicly confirmed, and two years remain after it.
Amenities
The amenity programme runs across several levels rather than one deck — pools inside the crown, a spa with a Turkish hammam, an owners’ clubroom, a wine cellar and a fitness floor.
Okan Tower — Frequently Asked Questions
Is Okan Tower still under construction?
Yes. It passed the 50th floor and reached about 75% structural completion in April 2026, moving at roughly one floor a week. Topping out was anticipated for August 2026, but I could find no published confirmation that it has happened. Delivery is targeted for 2028. ⚠️ This page said “Est. 2025” until August 2026, which was wrong.
How many units does Okan Tower have?
399 residences in total — 163 Sky Residences (conventional condominiums) and 236 condo-hotel units managed by Hilton — above a 316-key Hilton Miami Bayfront hotel, with Class A office space, more than 80,000 sq ft of amenities and a 429-space garage.
How tall is Okan Tower?
Approximately 902 to 903 feet over 70 to 72 storeys — the sources genuinely differ. The Real Deal reports 70 storeys and 903 feet; Florida YIMBY and PROFILEmiami report 72 storeys and 902 feet. It is a tulip-shaped design by Behar Font & Partners.
How is Okan Tower financed?
⭐ Unusually. Okan Group self-funded construction to the 40th floor, and only then closed a $200 million C-PACE loan from Bayview PACE on 7 January 2026. C-PACE is repaid through an assessment on the property tax bill rather than as a conventional mortgage. Ask in writing whether any portion passes through to individual unit owners.
What is the difference between a Sky Residence and a condo-hotel unit?
A great deal. The 163 Sky Residences are conventional condominiums. The 236 condo-hotel units are managed by Hilton — typically meaning the operator controls booking and standards, revenue is shared under a management agreement, and owner occupancy is capped. The management agreement, not the brochure, decides what you get. Financing terms and resale markets differ too.
How much do units cost?
No current price is published. This page previously showed “starting at $670,000”; I could not source that figure to any published report and it has been removed. Nothing current appears in The Real Deal, Florida YIMBY or PROFILEmiami. Ask Fortune Development Sales for a dated price list in writing.
Are there county records for Okan Tower?
None for the homes. The site — folio 01-0106-030-1060, which the county addresses as 501 North Miami Avenue, not 555 — is still classified Vacant Land — Commercial with no building area and no year built, assessed at $20,079,600 for 2026, despite the tower standing on it. There is no condominium declaration and no residential folio, so no comparables exist.
Sources and further reading
- Miami-Dade County Property Appraiser — Property Search (folio 01-0106-030-1060, county address 501 N Miami Avenue: ownership by Miami 6th Street LLC c/o Okan Group Inc, plat and block, lot size, land-use classification, zoning, 2024–2026 assessed values, the 8 March 2017 qualified sale, and the absence of any condominium declaration; retrieved 26 August 2026)miamidade.gov
- Okan scores $200M C-PACE loan for downtown Miami condo-hotel tower — The Real Deal, 7 January 2026 ($200 million from Bayview PACE, construction at the 40th floor, the developer having self-funded to that point, 70 storeys and 903 feet, 316-key Hilton, 236 condo-hotel units, 163 condos, 80,000+ sq ft amenities, 56,000 sq ft office, 429-space garage, 2028 delivery, Fortune Development Sales)therealdeal.com
- Okan Tower Reaches 75% Structural Completion As Construction Passes 50th Floor in Downtown Miami — PROFILEmiami, 27–28 April 2026 (72 storeys, 902 feet, 50th floor, 75% structural, 64,000 sq ft office, Behar Font & Partners, Bekir Okan quote, buyer nationalities)profilemiamire.com
- Construction Reaches 50th Floor on Okan Tower at 555 North Miami Avenue in Downtown Miami — Florida YIMBY, April 2026 (22 floors remaining, curtain wall progress, tulip massing, August topping-out expectation)floridayimby.com
- $200 Million C-PACE Financing Secured for Okan Tower as Construction Reaches 40th Floor in Downtown Miami — Florida YIMBY, January 2026floridayimby.com
Considering Okan Tower?
The Sky Residences and the Hilton-managed condo-hotel units are two different purchases with two different exits. Let me make sure you know which one you are being shown.
Thinking about Okan Tower?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comRelated coverage
Part of South Florida New Construction.