Miami-based developers Rilea Group and Ciprés have finalized the $1.19 million sale of a 702-square-foot retail space on the ground floor of their latest development, The Rider Residences. Located at 94 NE 29th Street, at the intersection of Miami’s Midtown and Wynwood neighborhoods, this 12-story, 146-unit luxury condominium is set to become a landmark in the area. The retail space was purchased by Sunkan LLC for approximately $1,700 per square foot, setting a new record price for both the Midtown and Wynwood neighborhoods, according to CoStar. Construction is slated to begin later this year, with groundbreaking expected in early 2025 and delivery in late 2026.
Andres Andrade and Jake Lecce of Cervera Real Estate, the exclusive sales and marketing brokerage for The Rider, represented the development team in the transaction, while Ivana Trachter of EXP Realty represented the buyer.
“This sale marks a pivotal moment for Wynwood,” said Diego Ojeda, President of Rilea Group and Owner of Ciprés. “As a member of the Wynwood Business Improvement District, I’ve had the privilege of witnessing the neighborhood’s evolution firsthand, and we’re excited to see The Rider continue to attract forward-thinking investors and businesses that share our vision for Wynwood’s future.”
Sunkan’s Alejandro Kacheroff, owner of OPTIUSA—a luxury optical company specializing in high-end eyewear—and the recently opened Michelin-recognized Italian restaurant Ossobuco in Wynwood, is the buyer. “Wynwood is where creativity meets culture, and it’s the perfect home for OPTIUSA’s next chapter,” said Kacheroff. “Purchasing retail space at The Rider is about more than expanding our brand—it’s about becoming part of a dynamic community that shares our passion for quality, craftsmanship, and innovation.”
Designed by Miami-based architecture firm Deforma Studio, with interiors by RADYCA, The Rider will offer fully furnished, turn-key studios, 1-, 2-, and 3-bedroom residences, with select floor plans featuring dens and half baths. Units will range in size from 386 to 1,612 square feet, with prices starting in the $400,000s and going up to $1.8 million.
The Rider will be located just one block away from Wynwood’s upcoming high-speed rail station on 27th Street, providing easy access to regional destinations such as Aventura, Fort Lauderdale, Boca Raton, West Palm Beach, and Orlando, without the need for a car.
The Rider is a joint venture between Rilea Group and Ciprés, a new real estate development firm founded by Rilea Group President Diego Ojeda, specializing in high-end residential projects across South Florida. Ciprés is also developing a 324-unit multifamily project in Port St. Lucie at 3043 SE Port St. Lucie Boulevard, just minutes from downtown Port St. Lucie, downtown Stuart, and the Treasure Coast beaches.
Rilea Group is also developing Mohawk at Wynwood, a 12-story, 300-unit multifamily building with 31,000 square feet of ground-floor retail, located at 56 NE 29th Street, adjacent to The Rider.
Please contact Miami Real Estate Agent David Freed, for all of your Brickell and Miami real estate services.
