arts
Kushner, Cain pay $43M for Edgewater site amid apartment rent-growth predictions
By Grace McClung at The Real Deal
· June 17, 2026
· 1 min read
Cain and Kushner paid $43.1 million for a site in Edgewater where they’ve been planning a 364-unit luxury apartment tower. The firms bought the 1.5-acre property at 614 and 720 Northeast 27th Street from an entity tied to a joint venture between Miami -based OKO Group and Cain. London-based Cain, led
Key takeaway BDT & MSD Partners provided a $42 million loan for the development, with construction expected to start late next year, The Real Deal previously reported.
Why this matters in The Miami
The purchase of the Edgewater site by Kushner and Cain for $43.1 million signals a significant investment in Miami's luxury apartment market, which is expected to see rent growth. This development will add to the area's stock of high-end housing, potentially attracting more affluent residents to the neighborhood. As a major hub for Latin American and Caribbean communities, Miami's housing market is shaped by the city's unique cultural and economic landscape. The fact that construction is not expected to start until late next year suggests that the developers are taking a deliberate approach to bringing this project to fruition. Given Edgewater's proximity to other vibrant neighborhoods like Wynwood and Miami Beach, it will be worth watching how this new development contributes to the area's ongoing transformation and whether it will put additional pressure on the existing housing stock and infrastructure in the surrounding communities.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit The Real Deal . Have a tip or correction? Contact our newsroom .
Category: arts ·
Published: June 17, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
Get more The Miami stories like this
Free weekly briefing covering arts and other local news. Curated by our editorial team. No spam.
By subscribing you agree to our privacy policy . Unsubscribe anytime.
Frequently asked about this story
What is this story about? Cain and Kushner paid $43.1 million for a site in Edgewater where they’ve been planning a 364-unit luxury apartment tower. The firms bought the 1.5-acre property at 614 and 720 Northeast 27th Street from an entity tied to a joint venture between Miami-based OKO Group and Cain. London-based Cain, led
When was this published? This article was first published on June 17, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Grace McClung at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
← Back to all news
More arts →
Today’s briefing
Subscribe to newsletter