# Rilea Group's Rider and Mohawk Rise on NE 29th Street

Published: 2026-09-17 · Updated: 2026-10-22 · Author: Jeremías Kastensmidt

_Rilea Group and Ciprés are building The Rider Residences, a 12-story furnished condo at 94 NE 29th Street, beside Rilea's 300-unit Mohawk at Wynwood rental tower. Here is what is financed, what it costs and how it compares with Midtown resales._

Rilea Group is building two projects side by side on NE 29th Street, on the line between Wynwood and Midtown. The one buyers can own is {{building:the-rider-residences}}: a 12-story condo of fully furnished units at 94 NE 29th Street, developed with Ciprés. Vertical construction began in March 2026 and completion is expected in 2027. Next door, Rilea's Mohawk at Wynwood is a 300-unit rental building due in 2028.

## The Rider Residences: what is being sold

The condo is financed with a $90 million construction loan from Mexico's Banco Inbursa, reported by [Connect CRE](https://www.connectcre.com/stories/cipres-rilea-group-obtain-90m-construction-loan-for-miami-residences/) and Commercial Observer. Rilea markets it as the first Miami residential development to accept wallet-to-wallet cryptocurrency payments.

- **Units:** reports differ. Commercial Observer and Miami Today cited 146 units. [Florida YIMBY](https://floridayimby.com/2026/03/vertical-construction-begins-on-the-rider-residences-at-94-ne-29th-street-in-miami.html) reported 152 furnished residences in March 2026, from about 386 to 1,612 square feet.
- **Mix:** studios, one, two and three bedrooms, plus penthouses.
- **Team:** Deforma Studio as architect and Beauchamp Construction as general contractor.
- **Reported prices:** from about $650,000 to about $2.5 million.

## How the asking prices compare

On September 30, 2026, eight Rider units were listed on the MLS. Their median asking price was $1,238,400, or $1,193 per square foot, with a median listed HOA fee of $1,355 a month.

That is about twice what resale condos nearby actually sell for. In {{neighborhood:midtown}}, 91 condos sold in the last 12 months at a median of $583 per square foot. With 161 active listings, that is about 21 months of supply, and our Market Index reads 24, a buyer's market. Small furnished units at a new-construction premium are the segment where that gap matters most for a future resale.

## Mohawk at Wynwood next door

Mohawk is a rental, not a condo. Its roughly $150 million financing combines $124.2 million of C-PACE money from Nuveen Green Capital with a $25 million senior loan from ABANCA USA, [Multi-Housing News reported](https://www.multihousingnews.com/rilea-group-lands-150m-for-miami-project/). Coastal Construction is the builder. Rilea is selling Mohawk's ground-floor retail space, president Diego Ojeda told Commercial Observer. He also said Rider had run out of retail space to sell.

For Rider buyers, 300 new rental apartments on the same block will compete with any unit they plan to rent out.

## Rilea's track record on our data

Rilea's best-known delivered condo is {{building:bond-on-brickell}}, the 44-story, 328-unit tower finished in 2016. Nine units sold there in the last 12 months at a median of $723 per square foot. It holds a Building Score of 64 (B+) and a Financeability Index of 71, meaning lenders still finance purchases there.

Rilea is also the project manager and development adviser, not the owner-developer, of Santander's 1401 Brickell office tower, which [broke ground in April 2026](https://www.santanderus.com/news_press_article/santander-celebrates-groundbreaking-of-1401-brickell-in-miami-and-continued-u-s-growth/).

*Updated October 13, 2026 with Own.Miami listing and market data. First published September 17, 2026.*


## Frequently asked questions

**Where is The Rider Residences?**

At 94 NE 29th Street, on the Wynwood and Midtown edge of Miami. It is a 12-story boutique condo developed by Ciprés and Rilea Group, with completion anticipated in 2027.

**How many units does The Rider Residences have?**

Reports differ: Commercial Observer and Miami Today cited 146 units, while Florida YIMBY reported 152 fully furnished residences in March 2026, from about 386 to 1,612 square feet.

**What is Mohawk at Wynwood?**

A 300-unit rental building by Rilea Group on NE 29th Street, financed with a $150 million package that includes $124.2 million of C-PACE financing from Nuveen Green Capital. Completion is slated for 2028.

## Sources

- Diego Ojeda: Developing residential projects on 29th Street in Wynwood: https://www.miamitodaynews.com/?p=86094

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