Nexo Residences just announced a partnership with AvantStay to run its turnkey short-term rental program. Inside the Fortune International + Blue Road project delivering this quarter from $599K.
Key Takeaways
- Nexo Residences just announced AvantStay as the operating partner for its short-term rental program — one of the strongest STR operators in the U.S. market.
- The 254-unit tower from Fortune International Group and Blue Road delivers Q3 2026 with prices from $599K for condos and $1.23M for townhomes.
- Combined with the rooftop observatory deck and two-story tech hub, this is one of the most amenity-rich STR-friendly buildings in the North Miami Beach pipeline.
The single biggest determinant of whether a Miami short-term rental investment actually generates the cash flow the proforma promises is not the building. It's not the unit floor plan. It's not even the location. It's the operator running the rental program.
That's why the news this week from Nexo Residences in North Miami Beach matters: Fortune International Group and Blue Road just announced AvantStay as the official operating partner for the building's turnkey short-term rental program. AvantStay is one of the three or four most credible STR operators in the U.S. market — and the partnership materially upgrades the investor case for this project.
This is the breakdown of why that partnership matters, what the project actually delivers, and the case for an early position in one of the better STR-friendly plays delivering in Q3 2026.
The Project Snapshot
Location: 13899 Biscayne Boulevard, North Miami Beach Developers: Fortune International Group (Edgardo Defortuna) + Blue Road Architecture: Sieger Suarez Architects Units: 254 condominium residences + townhomes Stories: 15 stories Price range: From $599,000 (condos) to $1.23M+ (townhomes) Status: Completion Q3 2026 (now); STR partnership with AvantStay announced May 2026 Targeted occupancy: Q4 2026
- Key amenities:
- Resort-style pool with sun shelf
- Two spas (one hot, one cold) with cold plunge
- Rooftop observatory deck (a relatively rare amenity in the North Miami Beach corridor)
- Two-story tech hub with coworking spaces and meeting rooms
- Fitness center with daily classes
- Children's play area and family lounge
- Bike room and EV charging
- Pet spa
- Owner storage
- 24/7 concierge and security
- AvantStay-managed short-term rental program
- Miami Market Snapshot — June 2026:
- Median North Miami Beach condo price: $385,000 (up 3.1% YoY)
- Average North Miami Beach condo cap rate (long-term rental): 5.8%
- Average North Miami Beach condo cap rate (top-quartile STR): 6.4%-8.2%
- Active North Miami Beach condo inventory: 290 units
- Q3 2026 expected new construction deliveries in NMB submarket: 3 projects, ~620 total units
The AvantStay Detail That Changes the Math
Most pre-construction projects in Miami that market themselves as "short-term rental friendly" deliver with no committed operating partner. The developer cuts the ribbon, the building turns over to HOA management, and individual unit owners either run their own STR program (badly, usually) or contract with whatever local property manager is available.
- That structure kills returns. Independent owner operation generates roughly 60-70% of the gross revenue a professionally operated comparable unit produces. The difference is the result of:
- Dynamic pricing engineering
- Distribution channel optimization (Airbnb, VRBO, Booking.com, direct, plus corporate channels)
- Linen and operations at scale
- Photography and listing optimization
- Guest service and review management
- Maintenance coordination
AvantStay is a top-tier institutional STR operator with operations across the U.S. and a track record of generating 25-35% revenue premiums over independent-owner-operated comps. The fact that Fortune International negotiated an institutional partnership with AvantStay as part of the building's amenity package is unusual — and it's the single most meaningful underwrite for Nexo's investor case.
For investors evaluating the project, the AvantStay partnership is the difference between buying an apartment and buying a professionally operated income asset.
Why Fortune International's Track Record Matters
Fortune International Group, led by Edgardo Defortuna, is one of the most established condo developers operating in Miami. The firm has been delivering luxury and mid-luxury product for over three decades and has a particular strength in international (LATAM-focused) buyer marketing and structured pre-sales.
- Recent and current Fortune projects include:
- Auberge Beach Residences Fort Lauderdale
- Hyde Resort Hollywood Beach
- Ritz-Carlton Residences Sunny Isles
- Jade Beach and Jade Ocean (Sunny Isles)
- St. Regis Residences Sunny Isles (joint venture)
- Multiple Latin American condo developments
What this track record means for buyers: Fortune delivers on schedule, runs disciplined pre-sale processes, and supports international buyers through the close. For LATAM and European investors entering Miami pre-construction, Fortune is among the lowest-friction developers to transact with.
Blue Road is a Miami-based developer with multiple recent projects in the North Miami Beach corridor, including The William Residences (which I covered earlier this week). The Fortune + Blue Road partnership combines Fortune's institutional marketing depth with Blue Road's local execution experience.
North Miami Beach: The Submarket Repricing
North Miami Beach (NMB) is one of the more interesting submarkets in greater Miami right now. The neighborhood sits between Aventura and Sunny Isles, has substantial new transit and infrastructure investment underway, and offers a price-per-square-foot that's 30-40% below comparable Sunny Isles oceanfront product.
For the next 24 months, expect the NMB pricing gap versus Sunny Isles to compress as multiple new luxury and mid-luxury projects deliver. As I covered in the William Residences breakdown — Blue Road's 374-unit tower in the same neighborhood — institutional capital has clearly identified NMB as the next-wave value play in the broader North Miami corridor.
Buyers entering NMB pre-construction or near-delivery product in 2026 are positioning ahead of a likely 12-25% price compression over the next 3-5 years as the submarket's macro story plays out.
The Investor Case
Let me run the numbers on a typical Nexo Residences condo at the $599K entry point:
Purchase price: $599,000 Down payment (25%): $149,750 Mortgage at 6.97%, 30-year: $449,250 loan, monthly P&I roughly $2,985 HOA + assessments + utilities + insurance: estimated $880-$1,200/month Total monthly carry: approximately $3,865-$4,185
- Now the income side. Comparable AvantStay-operated STR product in similar submarkets:
- Average daily rate: $215-$285 depending on season and unit type
- Average occupancy: 68-74% trailing 12-month under AvantStay operation
- Gross annual revenue per unit: $53,000-$68,000
- Net after AvantStay operating fee (25-28%) and operating expenses: $32,000-$44,000
Net monthly rental income: roughly $2,650-$3,650 against carry of $3,865-$4,185. The deal is mildly negative cash-on-cash at the entry price point in Year 1 — which is normal for new-construction STR product before stabilization.
What makes the deal work over the holding period: 1. AvantStay operational lift (typical 15-25% revenue premium vs. independent operation) 2. Cost segregation Year-1 depreciation (substantial paper losses against other income for material-participating STR owners) 3. North Miami Beach submarket appreciation (expected 12-25% compression vs. Sunny Isles over 3-5 years) 4. Q3 2026 delivery means immediate cash flow (no extended pre-construction wait)
That last point is critical. Most Miami pre-construction product carries 18-30 months of capital lock-up before delivery. Nexo delivers this quarter. Buyers contracting now can begin generating rental income within 90-120 days — a fundamentally different return profile than a 2027 or 2028 delivery.
Who Nexo Residences Is Right For
- This project makes sense if you're:
- A Miami business owner with substantial taxable income looking for STR product that delivers within 90-120 days
- A 1031 exchange buyer needing to identify and close on replacement property within IRS deadlines
- A first-time Miami STR investor wanting institutional operating partnership from day one
- A second-home buyer wanting personal-use flexibility with professional rental management when away
- A Latin American or European investor seeking Miami exposure with a credible operator running the income side
- It's probably not the right fit if you:
- Need positive Year-1 cash flow without leveraging tax structuring
- Prefer to self-operate your STR product (Nexo's value is institutional partnership)
- Want oceanfront product (Nexo is in NMB, not on the beach)
- Need a longer holding period to optimize entry (this is a delivery-now deal, not a deep pre-construction position)
The Risks Worth Naming
Three concerns worth weighing:
- 1AvantStay's contract structure with Nexo is multi-year but not perpetual. If the partnership terminates at some future point, building economics could shift. Standard institutional STR partnerships typically run 5-10 years with renewal provisions.
- 1North Miami Beach STR ordinance compliance is generally permissive but subject to municipal evolution. Verify current zoning and licensing requirements with my office before contracting.
- 1Three new buildings delivering simultaneously in the NMB submarket in late 2026 could pressure short-term rental rates during the stabilization window. AvantStay's operational lift mitigates but doesn't eliminate this dynamic.
Explore the full Nexo Residences project on my website: carloscabalerealtor.com/new-development
Frequently Asked Questions
Q: How much does it cost to buy a unit at Nexo Residences in North Miami Beach? A: Condominium pricing at Nexo Residences starts at $599,000 with townhomes starting at $1.23M. Final closeout pricing varies by floor plan and orientation as the building approaches Q3 2026 delivery.
Q: Can you Airbnb a unit at Nexo Residences? A: Yes — Nexo Residences is short-term-rental friendly, and the building has just announced AvantStay as the official operating partner. Owners can opt into the AvantStay-managed turnkey rental program or self-operate if preferred.
Q: When will Nexo Residences in North Miami Beach be completed? A: Nexo Residences is scheduled for completion in Q3 2026 with owner occupancy and the AvantStay rental program beginning in Q4 2026. This is one of the few near-term-delivery STR-friendly buildings in the Miami pipeline.
Q: Who are the developers of Nexo Residences? A: Nexo Residences is being developed by Fortune International Group (led by Edgardo Defortuna) and Blue Road. Fortune has 30+ years of South Florida luxury condo experience; Blue Road has substantial recent North Miami Beach project depth including The William Residences.
The Bottom Line
If you want immediate Miami STR exposure without the 18-30 month pre-construction wait, Nexo Residences is one of the most credible Q3 2026 delivery options in the broader pipeline. The combination of Fortune International's developer execution, Blue Road's local expertise, AvantStay's institutional operating partnership, and the North Miami Beach submarket repricing story makes this one of the cleaner near-term plays for serious Miami investors.
The window to position before the building fully delivers and closes out remaining inventory is short. By Q4 2026, the better unit positions will be gone. For business owners with capital ready to deploy and tax positioning ready to absorb cost seg, this is the immediate-delivery STR-friendly play of the summer.
Let's find your next property together.
Partnership Realty / Partnership Realty Inc / +1 (561) 629-0358 / carloscabalerealtor.com
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