Miami-based developer Jay Roberts, CEO of Prosper Group, recently closed on a $50 million site along the Miami River in the city’s Brickell district, according to a September 10, 2026 Commercial Observer interview. The 1-acre parcel includes 66 Southwest Sixth Street and 625 Southwest First Avenue, with about 300 feet of river frontage. Roberts described plans for a residential luxury high-rise of about 60 stories and 181 units on the property, located just outside Brickell City Centre, though pricing has not yet been announced.
Roberts said Prosper Group has a $2.8 billion pipeline spanning three projects in Miami and one in Tampa, with a focus on waterfront development sites. Before entering real estate, he worked on Wall Street at Bank of America Merrill Lynch, where he was involved in the $2.6 billion initial public offering of Paramount Group Real Estate Investment Trust. He also cited a move to Tampa in 2022, where he assembled a city block development near Water Street after observing Bill Gates and Jeff Vinnick investing $4 billion in the downtown district.
The interview highlights a shift in how developers build investor relationships. Roberts has grown his Instagram following from 5,000 in March 2025 to 187,000, with more than 32 million views, and hosts a podcast called “The Long Game.” He said social media now brings investor relationships that previously would have come through word of mouth or industry conferences, positioning the platform as a form of free marketing and market education.
What remains unknown is the project’s financing structure, unit pricing, and construction timeline. Roberts said more than 80 consultants are working on the Miami River project and that announcements are forthcoming, but the Commercial Observer piece does not include details on capital partners, debt, or expected delivery dates.