Our Story

 

For over 30 years, Wave Group Development has specialized in delivering boutique Class-A multifamily and hospitality projects across Miami-Dade. Our work is devoted exclusively to real estate investment, ground-up development, and strategic repositioning.

 

Alessandro Ferretti founded Wave Group in 1993 with a clear vision: to permanently elevate the neighborhoods he believed in, while creating lasting value for his partners and investors. Today, that impact is woven into the fabric of Miami. Major projects include the Lord Balfour Hotel (66-key boutique hotel at 350 Ocean Drive), ArteCity (202-unit condominium at 21st Street and Washington Avenue), the Atlantic Center (40,000 SF mixed-use building at 1st Street and Washington Avenue), and The Ambassadors (28-unit condominium at 1st Street and Michigan Avenue). Our current project, Duos Wynwood, is a 49-unit lodging condominium at 335 NW 28th Street in the heart of Wynwood.

 

Over the years, Wave Group has collaborated with Arquitectonica, Brown Harris Stevens, Douglas Elliman, and Miami’s most respected consultants and contractors. We continue to seek opportunities in growing neighborhoods where we can deliver lasting value through local expertise, longstanding relationships, and deep market knowledge.

 

Our Mission

 

We deliver elegantly designed properties that uplift Miami’s most promising neighborhoods. Our Italian heritage informs everything — a deep respect for craft, an eye for detail, and the conviction that beautiful spaces create lasting value for residents, communities, and investors alike.

Duos Wynwood — Current Project

After decades of shaping the South Beach and SoFi neighborhoods, Wave Group Development made a deliberate decision to cross the causeway and explore the next chapter of Miami’s evolution. The destination was obvious: Wynwood.

 

We had been watching Wynwood’s transformation for years — from an overlooked warehouse district to one of the most dynamic and talked-about urban neighborhoods in the country. What drew us in was not just the energy of the moment, but the trajectory: a growing concentration of entrepreneurs, investors, artists, and developers, each reinforcing the other, creating a momentum that felt both genuine and enduring.

 

Finding the right site took patience. We were looking for a specific combination — proximity to Wynwood’s major cultural and commercial attractions, easy accessibility for visitors and residents, yet a setting calm enough to offer a true sense of retreat. When we found our site at 335 NW 28th Street, we knew it was the one.

 

From the beginning, we envisioned a boutique building. Not because of constraints, but by conviction — our experience has always been in delivering projects where design, detail, and human scale matter. Smaller projects done exceptionally well have always been our answer to the market.

 

The product concept emerged from close dialogue with our partners and investors. The consensus was clear: compact, beautifully designed residences with the flexibility of short-term rental income — a product that serves both the lifestyle buyer and the investor. Owners could enjoy their unit when in Miami, and generate returns when away. It was the right answer for Wynwood, and for the moment.

 

The partnership that brought DUOS to life reflects the same philosophy. We joined forces with Vitrium Capital, an Argentine developer with a strong track record in similarly scaled, design-forward lodging projects across South America. The name DUOS came naturally — in Spanish, a duo is a team of two, and the project was born from the alliance of Wave Group and Vitrium. Two firms, one vision.

 

More recently, a third partner joined the venture: Zambala, a Milan-based operator with direct experience running a lodging building in Italy with a concept closely aligned with DUOS. Their operational expertise adds a dimension that strengthens the project for buyers and investors alike — and, not coincidentally, deepens the Italian design sensibility at the heart of everything Wave Group builds.

Our Team

 

Between them, the Wave Group team brings a combined development and investment portfolio exceeding $2.5 billion — spanning ground-up development, commercial repositioning, and residential acquisition funds across Italy, New York, and Miami.

Alessandro Ferretti — Principal & Founder

Equipped with a doctorate in civil engineering and architecture from the University of Bologna, Italian-born Alessandro Ferretti first entered real estate in 1980 when he joined his family’s engineering firm in Verona. Shortly thereafter, he became lead project manager for the 100,000 SF conversion of a group of 16th-century buildings in Verona into commercial and residential space. In 1984 he founded Costruzioni Verona SRL, dedicated to residential construction and renovation in Italy.

 

In 1990, Alessandro entered the international development field, founding FAI SRL to assist international developers through preconstruction, development, and sales & marketing processes. In 1991 he opened FAI’s first US office on New York’s Madison Avenue.

His introduction to Miami came in 1993 with the purchase of The Sharon Hotel in South Beach, subsequently merged with the Shore Club Hotel. His developments in SoFi include The Balfour (81-room boutique hotel at 350 Ocean Drive), The Ambassadors (235 Michigan Avenue), and the Atlantic Center office building (designed by Arquitectonica). Other major projects include the Wave Hotel, The Traymore Hotel, and ArteCity (202 units spanning a full city block on 21st and 22nd Street, combining two ground-up mid-rise buildings and the renovation of the Art Deco Governor Hotel and Park Apartments).

Between 2012 and 2020, Alessandro also managed a series of private equity funds acquiring distressed residential properties through foreclosure auctions across the Miami market — closing nearly 150 transactions with an aggregate value of approximately $50 million, rehabilitating each asset before sale or rental.

 

Since 2005, Alessandro has been involved with Oolite Arts (formerly the Art Center South Florida), currently serving as Vice Chair of its Board of Directors. He has also served on multiple non-profit boards. Alessandro lives in Miami with his wife Paola. His two sons, Francesco and Nicola, are both active in real estate development.

Francesco Ferretti — Chief Operating Officer

Francesco Ferretti brings over a decade of experience at one of the world’s leading real estate investment firms, Tishman Speyer, where he held senior roles across acquisitions, development, and asset management.

 

During his tenure in New York, Francesco was directly involved in the development and execution of several large-scale, high-profile projects, including the 1,871-unit Jackson Park multifamily development and The JACX, a 1 million square foot Class A office campus in Long Island City. His experience spans the full lifecycle of development — from underwriting and capital raising to construction, lease-up, and stabilization.

At Wave Group Development, Francesco brings an institutional approach to a highly curated, design-forward portfolio — supporting the team across investment strategy, capital markets positioning, and execution.

 

Francesco holds a Bachelor of Arts in Economics from the University of Pennsylvania, where he graduated cum laude. He is fluent in English, Italian, and Spanish.

Selected Projects

Duos Wynwood

49-unit condo-hotel, 335 NW 28th Street, Wynwood

Lord Balfour Hotel

81-key boutique hotel, 350 Ocean Drive, South Beach

ArteCity

202-unit condominium, 21st Street & Washington Avenue

Atlantic Center

40,000 SF mixed-use, 1st Street & Washington Avenue

Traymore Hotel

Collins Avenue, South Beach

Ambassador Condominium

235 Michigan Avenue, South Beach

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Contact Us

    Address: 1680 Michigan Ave – Suite 910, Miami Beach, Florida 33139