North Development Introduces Domus, a New Condo-Hotel Brand Brand’s First Property, Domus Brickell Park to open in Miami

MIAMI, FL, USA, March 22:Ricardo Dunin, CEO of Oak Capital and the Miami developer who pioneered the South Florida condo-hotel industry in the 90s, and Edifica, one of the largest developers and builders in Peru, have joined forces for the creation of North Development and the launch of DOMUS, a new condo-hotel brand. North Development’s first project in Miami, Domus Brickell Park, is located the booming Brickell area, at 1611 SW 2nd Avenue, and features 171 fully furnished condo-hotel units in 12 stories. The studios, one and two-bedroom units, ranging from 330 to 979 square feet, and with prices from the $400,000’s to the $900,000’s, were masterfully designed by Zyscovich Architects, with interiors by Urban Robot. This is the second project between Mr. Dunin and Zyscovich, after working together at The Meridian Lofts in Miami Beach. “Domus Flats is a new condo-hotel brand that will offer the ultimate solution for buyers that want to enjoy their property when in town and maximize rental income when not in residence,” said Ricardo Dunin. “We have incorporated innovative features that have never been seen before and are putting a strong focus on efficiency and hospitality. We have always worked on high end hotels, like when we created the Le Sereno brand in St. Barth and when we developed two Ritz Carlton Residences in South Florida, and we will bring those elevated standards to Domus.” “Our Domus reservation system allows access to over 85 sales channels, that receive over 700 million monthly visits, including all the major channels such as Airbnb, Booking, Expedia, Marriott, which includes the use of Bonvoy points, and several airlines” added Juan Carlos Tassara, managing partner of Edifica. “Our automated dynamic pricing algorithm uses real-time market data to maximize revenue and occupancy.” Guests can check-in online and receive their unit's access key on their phone before arrival. This not only offers convenience but also increases the building's security by allowing it to get familiar with the guests in advance. The access key is required for elevator use, ensuring that only owners and guests have access to the units. A 24/7 call center for guests will also be available. By eliminating the developer’s ownership of the common areas (commonly known as the “desk”), but still offering professional management for the individual units, owners will pay substantially less in fees without compromising the integrity of the high-end hospitality concept. Another competitive advantage of the project is that yearly occupancy for more than 6 months and one day in not allowed. This eliminates the natural conflict between permanent residents and the transient rental business, while still allowing for out-of-towners enjoyment of their units when in Miami. At the heart of the building, in the oversized lobby, is The Peacock Room. This space includes an all-day food and beverage experience, with gourmet coffee, wine, specially brewed beers, and a market. It includes co-working spaces, high speed internet and chill music, which will attract both locals and guests. Domus Brickell Park boasts a wellness center, including a steam room and state-of-the-art fitness equipment. There is also a rooftop pool deck with cabanas, a jacuzzi hot tub, a grilling and entertainment area. The building is expected to open late 2025, and North Development has a long-term interest in utilizing the Domus brand in multiple locations. The project’s sales and marketing will be exclusively by Cervera Real Estate. Sales Center is located at 1200 Brickell Avenue, 18th Floor | Miami, FL 33131 For more information, visit www.domusbrickellpark.com About North Development North Development was founded by two partners, both with ample knowledge and experience gained from successfully developing innovative projects. Oak Capital is a real estate investment and development company, whose founder Ricardo Dunin has over 35 years of experience in the US & Brazil. He was responsible for the development of three Ritz Carlton Residences (Miami Beach, Singer Island and Pompano Beach), the development and brand creation of Le Sereno Hotel in St. Barth and the development of 12 hotels with Accor in Rio de Janeiro. Edifica, is a real estate developer builder and fund manager from Peru, with over 17 years of experience and 64 delivered projects, is the foremost developer for investor driven, short term rental friendly, condo projects in the country. Given their very complementary experiences and skill sets, together they bring a wealth of expertise for the creation of a sophisticated brand. North Development’s mission is to ground-up develop short-term rental condo-hotel buildings that maximize value for investors and create comfortable experiences for guests. With a focus on quality and innovation, it aims to set itself apart in the marketplace and become a trusted name in the hospitality industry. Visit www.northdevelopment.com for more information.