Okan Tower in October 2026: 50 Floors Up, Top-Off Unconfirmed, 2028 Finish

As of October 2026, Okan Tower at 555 North Miami Avenue is still under construction and has not been reported as topped off. The last published progress reports, from April and May 2026, put the concrete frame at the 50th of 72 floors and about 75% structurally complete, with completion scheduled for 2028. On June 1, 2026, a worker was killed at the site when a column fell from the top floor, and authorities said OSHA would investigate.

How far the tower has climbed

Okan Group's Hilton-anchored tower reached its 35th floor, about halfway up, in fall 2025. In January 2026 it reached the 40th floor, and by late April Florida YIMBY and South Florida Agent Magazine both reported 50 floors in place, rising at about one floor a week, with the top-off then expected in August. We found no published report of a topping out as of October 13, 2026, so treat the August target as unconfirmed.

The finish line has also moved. Coverage in 2025 pointed to 2027; the January 2026 financing reports and Florida YIMBY now say 2028. The planned height is given as 902 to 903 feet, which would make it the second-tallest building in Florida.

The June accident

On June 1, 2026, a structural column being set on the top floor fell and trapped two workers. Police identified the worker who died as 25-year-old Maria Fernanda González Garcia; a second worker was hospitalized. NBC Miami reported that OSHA would investigate and that the probe would take six months. No cause has been published, and no report we found says whether work paused or for how long.

Financing, program and sales

In January 2026, Bayview PACE closed a $200 million C-PACE loan on the project, which Commercial Observer described as its first construction financing. The plan includes a 316-key Hilton Miami Bayfront hotel, 236 condo-hotel residences managed by Hilton, 163 Sky Residences and roughly 56,000 to 64,000 square feet of office space, depending on the report. Commercial Observer reported that 62% of units had presold as of January; Fortune Development Sales handles sales.

Why it matters for buyers and owners

A buyer considering a condo-hotel unit here is buying into a building that is still at least a year from delivery, in a Downtown market that already has plenty of supply. Own.Miami's Downtown market report, as of October 13, 2026, counts 923 condos for sale and 30.1 months of supply, a buyer's market, with 368 closed sales in the last 12 months at a median of $587 per square foot. About 37.8% of active listings have had a price cut.

Nearby branded and short-term-rental buildings show the gap between asking and closing prices. At Natiivo Miami, 97 active listings ask a median of $1,037 per square foot, while its 16 MLS closings in the last 12 months settled at a median of $853. E11EVEN Hotel & Residences, delivered in 2026, recorded 417 developer first-sale deeds since March and now has 73 resale listings asking a median $1,473 per square foot.

For existing Downtown owners, Okan's 399 residences (236 of them Hilton-managed condo-hotel units) would arrive in a delivery wave of condo-hotel and flexible-rental inventory. Buyers under contract should watch for an official topping-out announcement and any change to the 2028 date.