JEM Private Residences Rises Past Its Podium at Worldcenter

JEM Private Residences, Naftali Group's 67-story condo tower in Miami Worldcenter, finished its 11-story podium in February 2026 and has been climbing since. The developer still targets completion in the fourth quarter of 2027. The condos themselves start high: the 273 residences begin on the 43rd floor, above 530 rental apartments in the lower part of the same tower.

Where construction stands

The podium at 1016 NE 2nd Avenue topped off in February, with the lobby, ground-floor retail and parking garage complete, according to PROFILEmiami and Florida YIMBY. By March 22, several residential levels were rising above the base. We found no later public floor count as of October 13, 2026.

Construction started in April 2024. In November 2025 Naftali closed $465 million of construction financing: $235 million in C-PACE funding from Nuveen Green Capital and $230 million in loans from Bank Hapoalim.

One tower, two products

JEM Private Residences is a block-sized building with two different products inside:

• Rentals below: 530 apartments, 10,244 square feet of retail and 591 parking spaces.
• Condos above: 273 residences from studios to four bedrooms, starting on floor 43, plus Sky Villas at the crown with interiors by FENDI Casa.
• Team: Arquitectonica designed the tower, Rockwell Group the residence interiors, EDSA the landscape, and Coastal Construction is building it.
• Amenities: on the 50th floor, including a 60-foot pool.

For a condo buyer, a large rental component under the same roof can mean more traffic in shared spaces. Ask how the condominium shares and separates elevators, amenities and costs with the rental part before signing.

What happens when a Worldcenter tower delivers

County deed records show what delivery looks like a few blocks away. E11EVEN Hotel & Residences recorded 417 developer closings between March 6 and September 30, 2026, at a median price of $450,000. 501 First Residences recorded 440 between December 2025 and September 2026. Those buyers then become sellers: E11EVEN had 66 units listed in October against 4 MLS sales in the past year.

Older neighbors show the same backlog. Paramount Miami Worldcenter had 74 listings and 25 sales over 12 months, about 36 months of supply. Across Downtown, 923 condos were listed against 368 closed sales in the past year, about 30 months of supply. The median sale was $587 per square foot, and our Market Index reads 24, a buyer's market.

What JEM is asking

JEM's few MLS listings asked a median of $1.2 million, or $1,392 per square foot, on September 9, 2026. That is well above Downtown's median sale. Contract buyers who plan to resell after delivery will be competing with Worldcenter towers that already have deep resale inventory. Buyers who plan to live in the unit can use those resale listings as a benchmark for what the same money buys in a finished tower today.