Major Food Group exits Michael Stern’s Miami condo tower venture

Major Food Group exited an agreement with JDS Development Group to manage a forthcoming 90-story tower, 259-unit tower in Miami. Apartment prices will range from $1.6 million to $11 million.

Originally named Major, the hotel-condo will now be called 888 after its location, 888 Brickell Avenue. JDS is moving forward with the development and launch sales in the fall, according to a company representative. It will likely announce a new hotel partner by end of year and break ground early next year, says to a source close to the project.

“In mutual alignment, Major Food Group and JDS Development Group have come to the decision not to proceed in their collaboration on the MAJOR tower,” a joint statement read. “Both JDS and MFG wish each other the best as each company continues to expand and evolve in Miami and beyond.”