The Rider Residences Topped Off in Wynwood at 50 Percent Sold, With Furnished Units From $550,000

Construction topped off on The Rider Residences, a 12-story condominium at 94 NE 29th Street in Wynwood, Florida YIMBY reported on September 15. The building will yield 152 fully furnished units. Residences are priced from $550,000 to $2.4 million, sales have reached 50 percent with buyer interest from Europe, South America, California and New York, and completion is anticipated in the second half of 2027.

What is in the building

• Furnished from day one. The mix is fully furnished studios, one-, two- and three-bedroom residences, plus penthouses.
• Who is behind it. Ciprés and Rilea Group are the developers, Deforma Studio designed the building and RADYCA handled interiors.
• Where it sits. 94 NE 29th Street, 12 stories, in the middle of Wynwood rather than on a tower row.
• Half sold at structural completion. Fifty percent sales with roughly a year of finish work ahead of delivery.

Put that entry price next to the resale market and the picture gets clearer. The Miami-Dade condo median was $400,000 in July with 125 days on market and roughly 12 months of supply. New construction does not price off that number, and it should not be compared to it directly. But $550,000 for a delivered, furnished studio in Wynwood is the narrowest gap between new and resale that I have seen quoted on a Miami preconstruction project this year.

My read

This is the most realistic new-construction pitch I can make to a first-time Miami investor right now, and I still would not sign anything on the press release. A furnished delivery means no build-out budget and no six weeks of waiting on furniture before the unit can produce income, which is a real advantage over buying a shell. What is not in any article, and what I would demand before a deposit, is three things: the projected monthly carrying cost including the association budget and taxes, the building's actual rules on rental terms, and exactly what the furniture package includes in writing inside the purchase contract. Those three numbers decide whether $550,000 in Wynwood works, and none of them are public yet. One more caution. Fifty percent sold is a sales number, not a closing number. Contracts at this stage are deposits, and the meaningful test comes at delivery in the second half of 2027 when buyers have to qualify and fund.