Nahla Capital seeks approval from the Miami Beach Planning Board to add 66,000 square feet to its Raleigh Miami Beach redevelopment project.
Nahla Capital, a private equity firm led by managing principal Genghis Hadi, is petitioning the Miami Beach Planning Board for project amendments that would increase the floor area ratio of its Raleigh Miami Beach development from 2.0 to 2.5. If approved, the expansion would allow for two additional residential floors, adding more than 66,000 square feet to the project.
Nahla Capital acquired the 3-acre oceanfront site for $270 million in October 2025, succeeding previous developer Michael Shvo. The proposal is scheduled for review at the June 2 planning board meeting to determine if code amendments will be granted for the expanded residential tower plans.
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