Pagani Residences is the first residential building in the world curated by Pagani — the Modena hypercar maker — and it is rising on a 0.77-acre bayfront site at 7940 West Drive in North Bay Village. Seventy residences, four to a floor, every one a corner unit.
It broke ground in May 2026. Below is everything verifiable about it, dated and sourced, including the parts the brochure leaves out — the spec that grew after approval, the price that rose 63% before a single floor was poured, and the construction loan nobody has reported.
Key Takeaways
- Ground broke mid-May 2026 — but no source has reported any construction progress since 19 May 2026. A groundbreaking ceremony is a marketing event, not evidence of foundation work.
- Groundbreaking was already ~18 months late. At site-plan approval in September 2023 it was scheduled for Q4 2024.
- The building grew after approval: 26 storeys approved (2023) → 28 when units were sold (2024) → 30 today. Unit count stayed at 70 throughout.
- Delivery slipped 2027 → 2028, and the groundbreaking announcements stated no completion year at all.
- Entry pricing rose 63% — $2.4M at launch (March 2024) to $3.9M (May 2026) — on an unbuilt product.
- No construction loan has been reported for a 30-storey tower already under construction. The only reported debt is a $12.6M site loan modification from March 2025.
- Two penthouses ask $30M and $28.5M — records for North Bay Village.
What Is Being Built
A 30-storey, 70-residence condominium at 7940 West Drive, North Bay Village, FL 33141 — technically two folios, 7938 and 7940 West Drive, on the western frontage off the 79th Street Causeway. The developer is Riviera Horizons, founded and led by Mikael Hamaoui, which bought the site in 2021 for $4.48 million. Sales are through Fortune Development Sales.
Every residence is a corner unit — four per floor — at 2,000 to 3,300+ square feet of interior space with terraces of 800 to 1,040+ square feet, in two-, three- and four-bedroom layouts. Amenities include a rooftop pool, a 29th-floor wellness level, a private marina, a 240-foot waterfront boardwalk, and an “Auto Privata” automotive concierge run with Prestige Imports.
One address caution. The ZIP code 33141 is shared with Miami Beach, so listing feeds routinely render this as “Miami Beach, FL 33141.” It is not. The property is in the municipality of North Bay Village, which is its own permitting, zoning and building-department jurisdiction.
Where Construction Actually Stands
Ground broke in mid-May 2026. Florida YIMBY reported construction beginning on 16 May 2026; PROFILEmiami covered the ceremony on 19 May.
And nothing has been reported since. As of early August 2026, no source has published a single update — no piling, no foundation pour, no vertical progress. That is roughly two and a half months of silence following a groundbreaking. It is worth being precise about what a groundbreaking ceremony is: it is a marketing event with shovels. It is not evidence that foundation or structural work is underway.
Note also that The Real Deal did not cover the groundbreaking at all. Its most recent Pagani story is from 21 January 2026.
The schedule had already slipped badly before the shovels. When North Bay Village unanimously approved the site plan on 29 September 2023, groundbreaking was scheduled for Q4 2024. It happened in May 2026 — about eighteen months late.
“This milestone reflects a more thoughtful and enduring approach to luxury, one rooted in design integrity, craftsmanship, and long-term value.”
Mikael Hamaoui, Founder and CEO, Riviera Horizons — at the groundbreaking, May 2026
What Pagani Is Actually Doing
More than licensing a badge. Pagani Arte — Pagani’s own Made-in-Italy design division, led by CEO Brenda Basso — curates the interiors and common areas and produces a bespoke furniture collection for the building, working alongside the firm A++. Horacio Pagani provided creative direction personally. The official project material calls it “the first residential project in the world to be meticulously curated by Pagani Arte.”
“At Pagani, every creation begins with a dialogue. Just as we design a hypercar hand-in-hand with its owner, Pagani Residences invites each resident into the adventure of shaping their home.”
Horacio Pagani, Founder and CEO, Pagani Automobili — November 2025
One credit is unresolved. Revuelta Architecture International is named as architect in the 2023 approval, the March 2024 launch, the July 2025 update and the developer’s own November 2025 release. Both May 2026 groundbreaking articles instead name A++ as architect. The November 2025 release lists Revuelta as architect and A++ as an interiors collaborator, which suggests the groundbreaking coverage mislabelled it — but no source states that, so treat the architect of record as unconfirmed.
The Spec Moved After People Bought
This matters more than it sounds, and it is the clearest thing on the record.
| When | Storeys | Source type |
|---|---|---|
| October 2023 — site plan approved | 26 | Approval coverage |
| March 2024 — sales launch | 28 | Launch release and trade press |
| March 2025 | 27 | Lender release |
| July 2025 | 30 and 28 | Two outlets, same week, disagreeing |
| January – May 2026 | 30 | Trade press and groundbreaking coverage |
Anyone who signed a contract in 2024 bought into a 28-storey building that is now marketed as 30 storeys. The unit count never changed — 70 throughout — so the extra floors changed the massing and, by definition, where units sit in the stack. Nobody has explained the change publicly.
Two further gaps worth knowing: no source has ever published this building’s height in feet — only storey counts. And a 30-storey tower with 70 units, a private marina, a 240-foot boardwalk and a display garage is being built on 0.77 acres. That is a very tight site.
Pricing
Entry pricing has risen 63% in twenty-six months, on a building that did not exist for any of them:
- March 2024 — from $2.4 million at launch
- January 2026 — from $3.7 million
- May 2026 — from $3.9 million
The two penthouses were released in November 2025. Penthouse 01 asks $30 million — 12,200 total square feet (7,000 interior, 5,200 outdoor), five bedrooms, six baths, 13-foot ceilings, dual-level with an ensuite elevator. Penthouse 02 asks $28.5 million — 10,700 total square feet, four bedrooms. Both were marketed alongside a limited-edition Pagani Utopia Roadster.
No source has published a price per square foot for this building, and there is no public per-unit price list. Treat “$3.9 million and up” as a marketing floor rather than a price sheet. And on the car: the terms of the penthouse-and-Utopia pairing — whether the vehicle is included in the price, how allocation works, and what happens if it is not delivered — are not disclosed anywhere. Ask in writing.
What to Verify Before You Sign
None of this makes Pagani Residences a bad building. The design is serious and the Pagani Arte involvement is real. These are the questions I would want answered in writing.
1. Is there a construction loan? No source has reported one — no lender, no amount, no closing date — for a 30-storey tower that has already broken ground. The only reported debt is a $12.6 million loan modification from Linkvest Capital in March 2025, described as refinancing the site and funding pre-development costs. That is a site loan, not construction financing. For comparison, another North Bay Village project reported a $350 million construction loan in April 2026, so this is a reporting gap that would normally be filled.
2. Where is your deposit held? Florida Statute 718.202 governs condominium deposit escrow. Nothing has been published about the escrow agent, the deposit ladder, or what is held versus released. Get the escrow agreement.
3. Which storey count and delivery date are contractual? Not the marketing number — the one in your purchase agreement, plus the outside date and your remedies if it passes.
4. What is the developer’s delivery record? Riviera Horizons is a relatively young Miami firm and no source documents a previously completed condominium tower by it. That is not a criticism; it is a question worth asking directly.
5. Pull the permit record. Ask North Bay Village whether a full vertical construction permit has been issued, or only a foundation permit. Those are different things and only one of them lets a tower rise.
North Bay Village Around It
North Bay Village is a three-island municipality on Biscayne Bay served by a single road spine — the 79th Street Causeway. It is currently absorbing an unusual concentration of simultaneous towers: the Continuum project (which secured a $350 million loan in April 2026), Related Group and Macklowe’s two 43-storey Ritz-Carlton-branded towers at 8000 East Drive, El-Ad’s Harbor Island project which won a height increase in April 2026, an MG Developer project, and two 498-foot towers under Miami-Dade shoreline development review.
That is a lot of concrete arriving on one causeway. Concurrent construction is a documented practical risk to access and to timelines — worth factoring into any delivery expectation. The Village is also pressing developers to include public space and contribute to an affordable housing fund.
For the wider picture see new construction, the Miami luxury condo market and North Bay Village. If you want the current file on this building read honestly rather than sold to you, start a conversation.
Verified 4 August 2026
- Address — 7940 West Drive, North Bay Village, FL 33141 (folios 7938 and 7940), 0.77-acre site
- Storeys — 30 (approved at 26; sold at 28)
- Height in feet — never published by any credible source
- Residences — 70, four per floor, all corner units
- Developer — Riviera Horizons (Mikael Hamaoui) · Interiors — Pagani Arte with A++ · Architect — Revuelta Architecture International (A++ named in 2026 coverage; unresolved)
- Status — ground broke May 2026; no construction progress reported since 19 May 2026
- Delivery — 2028 per January 2026 reporting; groundbreaking coverage gave no date
- Pricing — from $3.9M (May 2026); penthouses $30M and $28.5M
- Construction loan — none reported
Checked 4 August 2026 against the sources listed below. Pre-construction specifications change — ask me to re-verify before you rely on any line of it.
Pagani Residences: frequently asked questions
Is Pagani Residences under construction?
Ground broke in mid-May 2026. However, no source has reported any construction progress since 19 May 2026 — no piling, no foundation pour, no vertical work. A groundbreaking ceremony is not the same as active structural construction.
When will Pagani Residences be completed?
2028, per January 2026 reporting. The original target was 2027. Notably, the May 2026 groundbreaking announcements gave no completion year at all. Given the tower broke ground in mid-2026, treat 2028 as the earliest plausible date rather than a commitment.
How many floors and units does Pagani Residences have?
30 storeys and 70 residences, four per floor, all corner units. The building was approved at 26 storeys in 2023 and sold as 28 storeys in 2024 — the unit count never changed, but the height did.
How much does a residence at Pagani Residences cost?
From $3.9 million as of May 2026, up from $2.4 million at the March 2024 launch — a 63% rise. The two penthouses ask $30 million and $28.5 million. No price per square foot has been published by any credible source.
What does Pagani actually design in the building?
Pagani Arte, the company’s own design division, curates the interiors and common areas and produces a bespoke furniture collection, with Horacio Pagani providing creative direction. It is more than a naming deal. The architect of record is less clear — Revuelta Architecture International is named in most coverage, A++ in the 2026 groundbreaking articles.
Where exactly is Pagani Residences?
7940 West Drive in North Bay Village, on Biscayne Bay off the 79th Street Causeway. Listing feeds often show it as “Miami Beach, FL 33141” because the ZIP is shared — it is not in Miami Beach. North Bay Village is its own municipality with its own building department.
Has a construction loan been reported?
No. No lender, amount or closing date has been published for the tower’s construction financing. The only reported debt is a $12.6 million loan modification from Linkvest Capital in March 2025 covering the site and pre-development costs.
Sources and further reading
- Florida YIMBY — Construction Begins On 30-Story Pagani ResidencesGroundbreaking, 30 storeys, 70 residences, pricing from $3.9M. Published 16 May 2026 — the most recent construction report on this project.
- PROFILEmiami — Riviera Horizons Breaks Ground on Pagani ResidencesGroundbreaking ceremony coverage, project team and Pagani Arte’s role. Published 19 May 2026.
- The Real Deal — Pagani Residences Taps Prestige Imports to Drive SalesThe 2028 delivery date, pricing from $3.7M and the automotive concierge partnership. Published 21 January 2026.
- Florida YIMBY — North Bay Village Unanimously Approves Riviera Horizons’ 26-Story ProjectThe original 26-storey approval, the Q4 2024 groundbreaking target, site size and land basis. Published 1 October 2023.
- Florida YIMBY — Riviera Horizons And Pagani Team UpLaunch details, 28 storeys, architect credit and Horacio Pagani’s statement. Published 7 March 2024.
- The Real Deal — Riviera Horizons to Launch Sales of Pagani ResidencesLaunch pricing from $2.4M and the 2027 completion target. Published 6 March 2024.
- The Real Deal — Development Activity Ramps Up in North Bay VillageThe concurrent development picture and the Village’s public-benefit conditions. Published 27 July 2025.
- Florida YIMBY — Hypercar-Focused Garage Design UnveiledThe display garage and the 2027 delivery still in circulation mid-2025. Published 30 July 2025.