Adam Neumann’s Flow Expands Into Condo Ownership in South Florida
October 3, 2024Adam Neumann’s startup, Flow, is branching into condominium ownership. It is starting with Flow House, a 466-unit development in Downtown Miami. The 40-story project within the Miami World Center is expected to be ready by next year.
Originally planned as a second rental tower, the building will now offer condos. This marks an expansion of Flow’s offerings, which already include the 444-unit Caoba rental tower, completed by CIM Group and Falcone Group in 2019, and its second phase, which is currently under construction.
Reflecting on Flow’s journey, Neumann shared, “Over the past two years, we realized that the needs of renters, such as a lack of community and connectivity, are similar for owners.”
Flow has partnered with OneWorld Properties to market the condos, which start at $450,000 for studio apartments and $600,000 for one-bedroom units. Each unit has floor-to-ceiling windows, an in-unit washer and dryer, and some offer private balconies.
The property, located at 697 North Miami Avenue, will boast coworking spaces, a pool with a poolside restaurant, a fitness center, a yoga studio, a spa, and a dog run.
Flow, launched in August 2022 with backing from Andreessen Horowitz, is focused on building community among its residents. The company is active in Miami and Fort Lauderdale, with 4,000 units—condos and apartments—in development and stakes in six buildings.
At Miami Worldcenter, Flow plans to add 28,000 square feet of retail space along the promenade to the 9,000 square feet already completed.
In addition to its U.S. ventures, Flow is expanding internationally. It is partnering with local investors to develop three residential projects in Riyadh, Saudi Arabia, which will provide 920 units to the Middle Eastern market.