Palma Miami Beach

About the Project

Few developers arrive in a neighborhood with a fully articulated long-term vision, but Lefferts -- the New York-based private real estate firm founded by Mendy Chudaitov -- has done exactly that in Miami Beach's North Beach. Armed with a $730 million three-project commitment and a quiet confidence built over two decades of residential and mixed-use development in New York, Lefferts identified North Beach as an undervalued coastal district long before broader market consensus caught up. The catalyst was a 2017 voter-approved increase in allowable floor area ratio within the North Beach Town Center, which suddenly made modern large-scale development financially viable in a neighborhood that had been largely unchanged for decades. Lefferts moved first, moved decisively, and is now the single developer most responsible for North Beach's architectural reinvention. PALMA Miami Beach Residences is the firm's second act in the neighborhood -- following the successful delivery of 72 Park, a 22-story, 206-unit tower completed in March 2025 -- and it signals a deliberate shift toward a more intimate, wellness-focused residential product. A third project, 72 Carlyle, designed by Italian master Piero Lissoni, will complete the trilogy and firmly establish North Beach as a credible address within the broader Miami Beach luxury conversation.

Designed by Built Form, a full-service architectural practice with studios in Chicago, North Carolina, and Miami, PALMA represents sixteen years of the firm's accumulated expertise distilled into a single purpose-built luxury address. Built Form operates at the intersection of boutique creative sensibility and large-firm technical rigor -- a balance that shows in the building's 14-story massing, which is scaled to feel contextually appropriate within the North Beach streetscape rather than imposing over it. The architecture draws its palette and proportions from the neighborhood's midcentury heritage while incorporating thoroughly contemporary materials: floor-to-ceiling impact-resistant glass doors that dissolve the boundary between interior and exterior, clean geometric balcony lines that create visual rhythm across the facade, and a double-height lobby that announces the building's ambitions without resorting to spectacle. The project is pursuing LEED Gold certification, reflecting a commitment to environmental performance that complements rather than competes with its luxury positioning.

The name PALMA is not incidental. It evokes the languorous coastal character of the neighborhood -- the palm-lined streets, the tropical light, the particular unhurried quality that draws residents to North Beach precisely because it is not South Beach. Interior designer Ruby Ramirez of Studio Ramirez, a Miami-based international studio with more than twenty years of practice spanning residential, interior architecture, and hospitality design, translated that sensibility into a 10,000-square-foot amenity program that is self-consciously Miami without being clicheed. Her philosophy -- described by the studio as "Not The Miami You Think It Is" -- rejects the chrome-and-marble maximalism associated with the city's earlier luxury boom in favor of thoughtfully curated, globally sourced pieces that feel as though they evolved organically within the space. The centerpiece is a custom ceramic pool deck mural that captures the tropical energy of Miami Beach with an artist's eye rather than a developer's instinct, making the outdoor amenity space genuinely distinctive rather than simply well-appointed.

The 126 residences -- comprising one- and two-bedroom layouts plus seven penthouses -- range from approximately 405 to 1,342 square feet and are delivered fully furnished and finished, a specification that reflects the building's dual appeal as both primary residence and investment asset. Every home features private balconies, high ceilings, and floor-to-ceiling impact-resistant glass that frames views of the surrounding neighborhood and, depending on orientation, the Atlantic Ocean or Biscayne Bay. Interior finishes are calibrated to the price point without compromise: European cabinetry paired with Bosch appliances, stone countertops and backsplashes, frameless glass showers with premium fixtures, in-unit washer/dryer, energy-efficient HVAC systems, and high-speed Wi-Fi infrastructure throughout. Pricing begins in the $650,000s, and with approximately 50 percent of residences pre-sold at the time of the December 2025 groundbreaking -- driven predominantly by South American buyers who account for over 64 percent of sales, followed by domestic purchasers at roughly 20 percent -- the remaining inventory represents a closing window into a building that is already more than half committed.

The amenity program at PALMA is structured around the convergence of wellness, sociability, and outdoor living that defines contemporary luxury expectations in South Florida. The resort-style pool deck serves as the building's social heart, complemented by a wellness hot tub and an arctic cold plunge that speaks to the growing buyer appetite for recovery-oriented amenity infrastructure. An outdoor summer kitchen and a private lounge with an indoor/outdoor bar extend the social program for residents who want to entertain within the building rather than immediately decamping to a restaurant. A dedicated media and game lounge provides a counterpoint -- a space for quieter, more intimate gatherings -- while a Technogym-equipped fitness center gives the health-conscious resident access to the kind of equipment typically reserved for private training studios. The 24-hour attended double-height lobby anchors the residential experience with a level of service that the North Beach market had not previously offered at scale.

The North Beach location places residents within walking distance of the Atlantic Ocean while keeping them genuinely connected to the neighborhood's emerging commercial infrastructure. The Miami Beach Bandshell, Normandy Shores Golf Club, and the Miami Beach Tennis Academy are all within easy reach, as is the expanding dining and retail corridor along 71st Street that has benefited directly from Lefferts' investment in the area. The building's 8,500 square feet of ground-floor retail will further animate the street and add another layer of everyday convenience for residents. Crucially for investors, PALMA imposes no minimum rental restrictions, allowing owners to place units on short-term rental platforms from day one of delivery -- a policy that, combined with the building's fully furnished specification and professional amenity program, positions each residence as an operationally straightforward income-generating asset in a market where international demand for quality short-term accommodation continues to outpace supply. With construction underway at 600 71st Street and delivery targeted for late 2027, PALMA offers the rare combination of a credible developer, a proven architect, a thoughtful interior program, and an address whose moment is already here.

Amenities

Location

7200 NE 1st Ave, Miami Beach, FL 33141