Luxury Edgewater Rental Tower Has Been Detailed
The 38-story FiveSixty Waterfront Residences will offer high-end rentals starting in 2027.
Updated on Oct. 13, 2026 in Apartments
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The FiveSixty Waterfront Residences plus Club is taking shape as a 114-unit luxury apartment development in Miami’s Edgewater neighborhood. The tower, which will not offer short-term rentals, is expected to begin initial move-ins in spring 2027.
Why it matters
This development represents a significant addition to Miami's high-end rental market despite broader regional migration shifts. The project targets renters seeking large-format living spaces in a purpose-built waterfront community.
The tower features 114 units ranging from 2,300 to 3,000 square feet with monthly rents between $15,000 and $25,000. Financing for the project includes a $172 million loan from Apollo Global Management and $56 million in preferred equity from Sixth Street.
The players
Aimco
A major real estate investment trust and multifamily developer known for managing high-end urban rental properties across the country.
Serhant
A prominent real estate brokerage and marketing firm founded by Ryan Serhant that specializes in luxury residential sales and leasing.
Apollo Global Management
A global alternative asset manager that provided the primary construction loan for the project.
Sixth Street
A global investment firm that provided the preferred equity for the building development.
The details
The development team secured competitive marketing services from the Serhant brokerage to manage the lease-up of the 38-story tower. Located at 560 Northeast 34th Street, the building will provide residents with specialized amenities including a private marina, executive suites, and a padel court. The structure is designed to function strictly as a long-term residential community rather than a short-term rental property.
Timeline
Construction on the project broke ground in Q3 2024.
Initial move-ins for the residential tower are expected in spring 2027.
The building's waterfront restaurant is slated to open in late 2027 or early 2028.
The Home Front
The project signals a continued commitment to high-end, purpose-built rental inventory in Miami’s urban core. This development follows a period of regional demographic shifts characterized by a net loss of tax filers in Miami-Dade County during 2023.
If you are considering a move to the Edgewater area, keep this site on your watch list for updates on pre-leasing schedules as the 2027 completion date approaches. Prospective tenants should review current local lease-signing requirements to compare these large-format units against existing neighborhood stock.
The takeaway
The FiveSixty Waterfront Residences is set to introduce significant new high-end rental inventory to the Miami market by 2027. If you are tracking the local market, note that the building will specifically exclude short-term rentals to maintain a long-term residential focus.
Further reading
For more trends on local high-end housing developments, visit the Apartments section.
Source note: This article includes information reported by The Real Deal New York.
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