The Galbut family, through their affiliate GFO Investments, has completed the Gale Miami Hotel & Residences, a 51-story short-term rental condominium and hotel tower located at 601 Northeast First Avenue in downtown Miami. The development, managed by Sixth Street Miami Partners and led by cousins Keith Menin and Marisa Galbut, received a temporary certificate of occupancy, with sales already closed on 265 of the 448 units within the Natiivo building, which includes the Gale.
The Gale Miami reflects the growing trend of short-term rental condo projects in Greater Downtown Miami, with more than two dozen similar developments planned. Another project, 14 Roc, was recently launched by GFO Investments in Miami’s Arts & Entertainment District.
Sales for the Gale’s condo-hotel units began last fall, following a dissolved partnership with Airbnb. The building, designed by Arquitectonica with interiors by Urban Robot, offers 70,000 square feet of amenities, including a gym, spa, and three restaurants. Prices for the units, which range from 410 to 910 square feet, start in the mid-$500,000s.
The project’s success underscores a strong demand for short-term rental-friendly condos, which offer owners the flexibility to rent out their units and generate income. This trend is exemplified by other developments like One West Twelve Residences in Miami’s Overtown, catering to buyers seeking affordable, versatile living spaces.
