All Those Cranes You See in the Miami Skyline? Most are Apartment Buildings, Not Condos

All Those Cranes You See in the Miami Skyline? Most are Apartment Buildings, Not Condos

Jun 25, 2019 June 25, 2019

While Miami is known for its extensive array of luxury condos, not all of those new construction projects popping up everywhere are condo towers. In fact, a huge majority of them are actually apartment buildings, geared toward young urban professionals who would rather rent than buy.

According to the Miami Downtown Development Authority, in December of 2018 their Market Insights reported 4,480 rental apartments under construction in the greater Downtown area, which consists of Edgewater, Overtown, Wynwood and Brickell. That number nearly doubles the 2,317 condos that were being built in the same area at that time.

Recently Completed Rental Apartment Projects


Below are some of the most recently completed projects in the downtown area. Some are offering move-in bonuses to lure tenants, such as a month of free rent, and perks such as 24-hour concierge service.

Modera Riverhouse

1170 Northwest 11th Street

Modera Riverhouse

Modera Riverhouse - Photo credit: Modera Riverhouse


Modera Riverhouse, a brand-spanking-new building that opened in February of 2019, is located in the Spring Garden Historic District, overlooking the Miami River, and only minutes from the hustle and bustle of Brickell.

Floor plans feature studios, and one, two, and three-bedroom layouts, with rents starting at $1745 monthly. Units feature quartz countertops, tile backsplashes, stainless steel appliances, and chef’s islands in the kitchen, as well as panoramic views and walk-in closets.

Building amenities include a rooftop pool, deck, and sky lounge, as well as the historic Casa Jardin garden house, reinvented as a community lounge space with internet access and fresh coffee service.

Caoba

698 NE First Ave.

Caoba

Caoba - Photo credit: Caoba


Opened in February of 2019, Caoba is a 43-story apartment tower located at Miami Worldcenter, and is the first component to be completed at the 27-acre multi-use facility currently under construction in Downtown Miami.

According to managing principal at Miami Worldcenter Nitin Motwani, tenants at Caoba come from all walks of life. “It’s everything from corporate workers to fresh-out-of-college young people to families to empty nesters,” Motwani explained. “We’re not just targeting one demographic. We’re running the gamut.”

Caoba features 444 rental apartments that range from 500 to 1,300 square feet in size, with over half of the units designed as studios and one-bedrooms. Rents range from $1,775 to $4,275.

Caoba is located in the midst of the multi-faceted Miami Worldcenter, which will be filled with apartments, hotel rooms, offices, conference centers, retail, and food and beverage outposts. It is also one block east of the new MiamiCentral train station, which intersects the Brightline, Metrorail, Metromover, and Tri-Rail services, making this one of the best spots in the city for those who want to get around easily on public transportation.

Muze at Met

340 SE 3rd Street

Muze at Met

Muze at Met - Photo credit: Muze


Also completed and opened in February of 2019, Muze is home to studios as well as one, two, and three-bedroom apartment units with stunning views, and rents starting at $1756.

The building features a lushly landscaped sun deck with a heated salt-water swimming pool, a 24-hour Zen wellness room, yoga and cycling studios, massage rooms, onsite retailers, a museum-inspired lobby with great art, a covered outdoor pavilion with summer kitchen, an entertainment lounge, services such as 24-hour concierge, and an onsite pet salon.

Next door to Whole Foods and near Bayfront Park, Museum Park, the Arts and Entertainment District, and Miami Worldcenter, Muze has earned a walkability score of 98, a bike score of 80, and a transit score of 100, thanks to its \ proximity to the Brightline, Metrorail, Metromover, and Tri-Rail train services.

Apartment Buildings Currently Under construction


Below we’ve listed some of the buildings nearing completion in the coming months, and we can expect them to also offer move-in incentives for prospective tenants.

The Bradley

51 Northwest 26th Street

The Bradley

The Bradley - Photo credit: The Bradley Wynwood


The Bradley is located in the heart of Wynwood and slated for completion in late 2019. This 175-unit tower will be among the most affordable of the new rental developments, with studios, one, and two-bedroom units ranging from 480 to 1,000 square feet, and rents starting in the low $1,400s, with most units renting for under $2,000.

Residences feature Italian designer kitchens, stainless steel appliances, walk-in closets, in-unit washer and dryer, and a safe and convenient keyless entry system. The building will also feature over 32,000 square feet of retail, restaurant, and office space.

Designed by Arquitectonica under the creative direction of Kravitz Design, the Bradley is a project of renowned artist Lenny Kravitz.

Amenities include a gated entrance, 24-hour concierge service, a rooftop deck and pool, outdoor kitchen with barbeques, a formal dining area, bicycle storage, and a fully equipped fitness center and health club that serves residents as well as their guests.

All common areas are equipped with high-speed Internet, as well as a curated collection of art and murals by an assortment of local and international artists.

Wynwood 25

252 NW 25th Street

Wynwood 25

Wynwood 25 - Photo credit: Wynwood 25


Scheduled for completion in Summer 2019, Wynwood 25 is located on NW 25th Street just west of NW 2nd Avenue, smack dab in between the famous Wynwood Walls and Panther Coffee. The project includes an eight-story, 425,000 square foot building, housing 289 rental apartments, along with 31,000 square feet of ground level retail, and a parking lot accommodating 340 vehicles.

The goal of the new developments in Wynwood is to create vibrant, walkable communities inhabited by professional millenials. Layouts at Wynwood 25 range from studios to 3-bedrooms and rents will begin at around $1610.

Amenities at Wynwood 25 include a world-class fitness center with a yoga studio, collaborative spaces designed for working from home, a coffee lounge surrounded by a 12,000 square foot courtyard, and such extras as bike storage, package storage, and dog bathing facilities.

The building also features a garden roof terrace with a pool, spa, barbeque, as well as work areas, and green spaces with beautiful city views.

Modera Bay

411 Northeast 21st Street

Modera Bay

Modera Bay - Photo credit: Modera Bay


Slated for completion in 2021, Modera Bay will house luxury rental units, with rents starting at around $1905.

Sitting on the shoreline overlooking Biscayne Bay, this 8-story building will encompass 297 studio, one-, two- and three-bedroom apartments with features like natural quartz countertops and custom cabinetry.

The building includes amenities such as a rooftop pool deck with dazzling views, and is located near all of the local hot spots in Downtown, Midtown, Wynwood, and the Design District, including Margaret Pace Park, Museum Park, the Arsht Center and Ziff Opera House, and a bevy of eateries and boutiques.

The Cranes Ain’t Condos


So now you know that most of the cranes you see everywhere aren’t condo buildings, but rather apartment rental buildings. :)



Cover photo credit: Phillip Pessar
Contact Us
Sep Niakan
Broker / Team Lead
(305) 697-7667
sep@blackbookproperties.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Introducing Downtown Miami’s Okan Tower - Luxury Miami Condos
Preconstruction Introducing Downtown Miami’s Okan Tower - Luxury Miami Condos
Meet Downtown Miami’s latest supertall condo tower that is sure to become an icon of the Magic City’s skyline for years to come - Okan Tower. With sales relaunched in November 2021 and buyers going straight to contract, after putting the project on hold, Turkish developer Okan Group is determined to make up for lost time. Back in action with revamped floor plans and the addition of an all-weather, glass-enclosed rooftop deck and observatory, the Okan Tower will feature 70 stories of luxury Sky Residences, world-class amenities, and 5-star Hilton Hotel & Resort. The Okan Residences Experience - Unfolding the Tulip Tower of Miami On track for a June 2022 opening, the condo-hotel marks Turkey-based Okan Group’s first development in the U.S. Designed by the Coral Gables-based Behar Font & Partners (the architects behind Quadro), the glass tower will feature a tulip-inspired façade as an ode to Turkey’s national flower. Certain to stand out on Downtown’s skyline, the...
Video: Take a Walking Tour of Edgewater, Miami
Lifestyle Video: Take a Walking Tour of Edgewater, Miami
Having spent almost 17 years in this mainly residential locale, Blackbook Properties’ luxury condo expert Sep Niakan takes you on his bright and sunny morning walk through this Edgewater, Miami, one of the city’s most popular waterfront neighborhoods.   Filmed in December, with a balmy winter morning temperature of 79° F/ 26° C, this scenic walking tour takes you through Margaret Pace Park and onto the Venetian Causeway. Besides being popular among walkers, joggers, and runners, the bayfront Margaret Pace Park is also a hot favorite among dog lovers, picnickers, and sports enthusiasts. The 8-acre park features two lighted tennis hard courts, two sand volleyball courts, one basketball court, personal fitness equipment, a gated playground, and more. The Venetian Causeway connects the mainland to Miami Beach, and again, makes a scenic seaside escape to clear your mind or simply absorb the sights and sounds of Miami. Watch the video to walk along. If you want see available units...
Miami Condo Development Guide: 52 New Pre-Construction Projects in 2021
Real Estate News Miami Condo Development Guide: 52 New Pre-Construction Projects in 2021
It’s a trend we’ve been talking about since the last quarter of 2020 - waves of buyers are contributing to one of the biggest real estate booms in Miami history. As individuals and businesses escape high tax states like New York and California, and have the freedom to work from any location, luxury condo developers in Miami are announcing new project after new project.   Miami condo developers announced more than 52 new and relaunched condo projects last year in 2021. In an attempt to appeal to a wide range of new residents, each new project aims to be taller, more luxurious, and offer the most exciting set of amenities imaginable, and could bring more than 10,000 residential units to Miami over the next few years. With the real estate market in Miami in one of its most lucrative cycles yet, here’s a look at the latest condo projects proposed in Miami in 2021: New Miami Condo Development Projects 2021 - Table of Contents New Downtown Miami Condo Development...
Get to Know Brickell, Miami: Comparing North Brickell vs South Brickell vs Brickell Key
Real Estate News Get to Know Brickell, Miami: Comparing North Brickell vs South Brickell vs Brickell Key
Brickell is one of Miami’s most desirable and popular neighborhoods, known the world over. Starting at the junction of the Miami River and Biscayne Bay, extending from Downtown Miami south along the water to the Rickenbacker Causeway that leads to Key Biscayne, Brickell is now known as the “Manhattan of the South.”  Indeed, Brickell is one of the world’s most important international financial hubs, home to many transnational companies and professionals from around the world. But Brickell is more than just Miami’s Financial District and the largest global banking center in the US south of New York. It’s an ultimate live, work, and play destination, and many celebrities have made their home in Brickell, including such Latin pop icons as Luis Miguel, Jennifer Lopez, and the late José José, as well as salsa legend Marc Anthony. To really get to know Brickell, and also know where you might want to live, Brickell actually consists of subdivisions that exist as distinctly different...
Video: Waldorf Astoria Residences, New Heights of Luxury Comes to Miami
Preconstruction Video: Waldorf Astoria Residences, New Heights of Luxury Comes to Miami
Combining the luxuries of New York City’s oldest hotel brand with Miami's first residential supertall tower, the Waldorf Astoria Residences Miami will transcend and transform luxurious living in Miami – all in the heart of Downtown. Moreover, a joint venture between the developers (PMG) and city will including expanding the green spaces in front of the luxury tower along Biscayne Boulevard, transforming the main boulevard of the Miami.  Waldorf Astoria Residences will be the tallest building south of Manhattan, transcending the skyline here and the heights of Miami luxury as we know it today.  Watch the video for more information.   Waldorf Astoria Residences Miami Key Details Groundbreaking: Early 2022 ​​Completion: 2025 Architecture by: Carlos Ott (conceptual artist) & Sieger Suarez (Miami’s award-winning architects). Designed to look like 9 offset crystal cubes, this sculptural condo-hotel is set to redefine Miami’s skyline. Interiors by: San Francisco’s...
Miami’s New and Pre-Construction Condo Update: December 2021
Real Estate News Miami’s New and Pre-Construction Condo Update: December 2021
Developers have turned bullish in Miami, and not without reason. Considering the booming luxury housing market with heightened buyer demand from the Northeast, California, and other high-tax areas, along with strong international interest as well, developers are on the fast track to bringing condo projects to life. This December, sales for Midtown’s Standard Residences and Smart Brickell’s third tower were launched. Downtown’s Aston Martin Residences topped out, becoming Miami’s tallest-ever condo (at least for the time being, before more supertalls top off). Developers announced a slew of luxury condo projects from Brickell to South Beach. Edgewater’s Aria Reserve and Downtown’s E11even Hotel & Residences filed for construction permits. Also, Melo Group bought an entire block in Downtown Miami, while Little River is ripe for redevelopment. Read on for details on these and more updates in our Miami condo pre-construction market roundup for December 2021:   December 2021 -...