One of Miami’s buzziest broker teams is sliding into Edgewater. Douglas Elliman’s Eklund‑Gomes group is taking over sales for Cove Residences, the planned bayfront condo tower in Edgewater, as the developers prepare to put shovels in the ground. SB Development and Hazelton Capital Group are swapping in the star brokerage crew just as the project pivots from the presale phase to full-on construction, a timing play that speaks to a changing pool of condo buyers in Miami.
Broker swap ahead of groundbreaking
SB Development and Hazelton have tapped Douglas Elliman’s Eklund‑Gomes Team to lead sales and marketing for Cove Residences, according to The Real Deal. Joseph Stern, a principal at SB, told the outlet that OneWorld “did a lot of the heavy lifting getting us to a place where we can close on construction financing and break ground.” Handing the baton to a marquee listings team at this stage gives the developers fresh firepower to move the remaining units as the site edges toward active construction.
Financing, design and timeline
The developers have locked in a $170 million construction‑and‑land loan to fund the 40‑story, roughly 134‑unit tower at 456 NE 29th Street, the financing outlet reported. As reported by Florida YIMBY, the loan was announced in September 2025, and the partners are targeting a 2028 completion. The building, designed by Kobi Karp Architecture and Dieguez Fridman, is slated to feature a waterfront pool, fitness center, theater, gaming area and shared workspaces, according to Cove Miami project materials.
Sales history and buyer mix
Sales first hit the market in 2023 under Peggy Olin’s OneWorld Properties. Since then, developers say the buyer mix has shifted from predominantly Latin American purchasers to a more domestic crowd. Remaining residences start at about $900,000, and the team has opened a two‑story sales center ahead of a groundbreaking that reportedly has more than 500 people registered to attend, sources told The Real Deal.
What it means for Edgewater
Edgewater’s skyline is already filling up with cranes, with a deep pipeline of residential towers proposed and under construction. Cove’s switch to a headline‑grabbing sales team is one more sign of the fierce competition for buyers on the bay. With lenders insisting on strong presales before releasing construction funds, the Eklund‑Gomes team’s national reach could serve as a real‑time stress test of demand at the $900,000‑and‑up price point through the project’s planned 2028 delivery, market watchers note via Florida YIMBY.
