# Melo's Downtown 6 Rental Tower Tops Out Near Worldcenter

Published: 2026-08-26 · Updated: 2026-10-22 · Author: Jeremías Kastensmidt

_Melo Group's 824-unit Downtown 6 has topped out with a late-2026 target. It is a rental tower, arriving in a Downtown condo market with about 30 months of supply._

Melo Group's Downtown 6, an 824-unit residential tower at 46 NE 6th Street, has reached its full height and is scheduled to finish in the fourth quarter of 2026, according to Florida YIMBY's March 2026 report. It is a rental building, not a condo: Miami Today reported in 2023 that the developer presented it to the city as a rental project, and Hoodline describes it the same way. For {{neighborhood:downtown}} condo owners, that is 824 new apartments competing for the same tenants.

## What has been built

Florida YIMBY and Hoodline both reported in March 2026 that the tower had topped out roughly a year after vertical construction began in early 2025. Florida YIMBY now describes it as a 60-story tower; the 2023 filings that Miami Today and Florida YIMBY covered described 54 stories, so the final floor count is best confirmed when the building opens. Miami Today and Florida YIMBY gave 824 units in 2023, and Florida YIMBY and Hoodline gave the same count in 2026. The site is near Miami Worldcenter.

The completion date above is the schedule reported in March 2026. We have not found a later public update confirming a temporary certificate of occupancy, so treat late 2026 as a target, not a fact, as of October 13, 2026.

## Why a rental tower matters to condo owners

Many Downtown condo units are owned by investors who rent them out. A large new rental building with on-site leasing and move-in specials tends to set the asking rent that nearby condo landlords compete with, at least during its lease-up.

That arrives in a market already tilted toward buyers. Own.Miami's market data for Downtown, as of October 13, 2026:

- **923** condos listed for sale, against **368** closed sales over the last 12 months, about **30.1 months of supply** (six months or less is usually read as a seller's market).
- A median closing price of **$587 per square foot** over those 12 months, roughly flat on the prior year, while the number of closings fell **10.9%**.
- Sellers accepted a median **91.6%** of the asking price, and **38%** of active listings have had a price cut.
- A median HOA fee of **$1,184 a month** on listed units.

Our Buyer/Seller Market Index for Downtown is **24 of 100**, which reads as a buyer's market.

{{chart:neighborhood_ppsf downtown}}

For a buyer, that combination means room to negotiate. For an owner who plans to rent, it means pricing the lease against new apartments, not only against other condos in the building.

## Melo Group's condo track record

Melo builds both rentals and condos. Its condo towers in {{neighborhood:edgewater}} give a read on how its buildings hold up once owners take over. Melo's Developer Score on Own.Miami is **70 (A−)**, scored from six buildings.

- {{building:aria-on-the-bay}} (built 2018): 29 sales in the last 12 months at a median $686 per square foot; regulated lenders financed 41% of its recorded sales.
- {{building:bay-house}} (built 2015): 55% of recorded sales bank-financed over the last 12 months, Financeability Index 78 of 100.
- {{building:aria-reserve}} (built 2025): 37 sales in the last 12 months at a median $997 per square foot.

Closer to Downtown 6, existing condo towers include {{building:paramount-miami-worldcenter}} (74 units for sale, about 35.5 months of supply) and {{building:the-elser}} (58 units for sale, a median $1,106 per square foot on its last 12 months of sales).


## Frequently asked questions

**When will Downtown 6 be finished?**

Florida YIMBY reported in March 2026 that the tower had topped out and was on track for completion in the fourth quarter of 2026.

**Is Downtown 6 a condo or a rental building?**

It is a rental building with 824 residential units, developed by an affiliate of Melo Group.

**Where is Downtown 6?**

At 46 NE 6th Street in Downtown Miami, near Miami Worldcenter.

## Sources

- Melo Group's Downtown 6 Tops Out at 46 NE 6th Street in Downtown Miami - Florida YIMBY: https://floridayimby.com/2026/03/melo-groups-downtown-6-tops-out-at-46-ne-6th-street-in-downtown-miami.html

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Source: Own.Miami — https://own.miami · data as of 2026-10-22
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