January 2022: Miami’s New and Pre-Construction Condo Update

January 2022: Miami’s New and Pre-Construction Condo Update

Feb 04, 2022 February 04, 2022

Miami’s building boom continues into 2022 with strong buyer demand supporting developer plans. The first month of the year kicked off with two major sales launches - Miami Worldcenter’s The Crosby and Sunny Isles’ Bentley Residences. Koya Bay broke ground in North Miami Beach. Ytech won approval for its 1,049-foot supertall, putting it at the same height as the preconstruction Waldorf Astoria condo-hotel. 

Fueled by surging buyer demand, Lofty Brickell and Downtown’s E11even Residences Beyond were both 50% sold out within weeks of launching sales. We also have quite a few developments under our watchlist such as Edgewater’s Denny’s site sale, demolition of the Deauville Resort, and more as developers have turned bullish on acquiring parcels for luxury condo developments to meet buyer demand.

Read on for details on these and more updates in our Miami condo pre-construction market roundup for January 2022:
 


January 2022 - Miami Condo Pre-construction Market at a Glance



Sales Launched

Broke Ground

Approved

Construction Updates

Other Updates

Watchlist

 


January 2022 - Miami Pre-construction Condo Sales Launched



The Crosby (Miami Worldcenter) – Downtown Miami

Groundbreaking – Q1 2023 | Completion – Q1 2025

The Crosby (Miami Worldcenter) – Downtown Miami


Launching sales for Miami Worldcenter’s latest addition, developer Related Group and Merrimac Ventures unveiled select units with promotional pricing this January. Part of the 30-acre city-within-a-city, the Miami Worldcenter, The Crosby joins the Paramount and Legacy condo towers in Downtown. 
Paramount Miami Worldcenter is America’s (if not the world’s) most amenitized building, while the Legacy Hotel & Residences stands out for its 50,000 square-foot medical center for health and performance.

The Crosby will be a 33-story, 450-unit luxury tower with no rental restrictions. Owners will also have access to an optional in-house management program and third-party management service. Designed by Cohen Freeman Encinosa, the sophisticated condo building will feature interiors and furniture by New York’s AvroKo. The fully finished and furnished residences will house gourmet kitchens with custom Italian cabinetry and Bosch appliances, rain showers and custom Italian vanities, contemporary lighting packages, smart home tech, smart keyless entry systems, and balconies with 180- and 360-degree views.

Built to offer an iconic, high-end urban living experience, the ready-to-rent tower will include an expansive rooftop pool deck with BBQ stations, private rooftop restaurant-bar, fitness center with plunge pools, juice and coffee bar, a fire pit lounge, a gaming lounge, a coworking space, Italian-inspired trellis gardens, and more.

Prices start in the $300,000s, with a choice of studios to two-bedroom residences.

Bentley Residences – Sunny Isles Beach

Groundbreaking – Early 2023 | Completion – 2026 

Bentley Residences – Sunny Isles Beach


After making waves with its supercar branding and being the tallest residential building on a U.S. coastline, developer Gil Dezer launched sales for the highly anticipated Bentley Residences this January. The 60-story statement tower, designed by Sieger Suarez, will stand out for its cylindrical shape and, the brand’s reflective, diamond-motif façade created using triangulated glass. The glass will also be as tough as diamonds, withstanding winds up to 175 miles per hour.

The world’s first Bentley Motors-branded residences will stand 62 stories tall with 216 ultra-luxury condos. A real game-changer, each residence at this oceanfront tower will come equipped with a swimming pool on its balcony, access to the patented car elevator called the Dezervator, and a 4-care, in-unit garage right next to their home in the sky. With just 4 units per floor, residences will also feature direct ocean views, custom lighting, signature scenting by Bentley Motors, and use of sustainable materials.

Amenities at this one-of-a-kind tower will include a life-size speeding Bentley sculpture at the building’s entrance, an indoor-outdoor fitness center, spa, two pools, whisky bar, private restaurant, cigar lounge, cinema, landscaped communal gardens, and more.

Read more about Bentley Residence’s commitment to sustainability, other standout features, and location here.

Prices start at $4.2 million, with a choice of residences starting at 3 bedrooms


January 2022 - Miami Pre-construction Condos - Started Construction 



Koya Bay – North Miami Beach

Groundbreaking – Early 2022 | Completion – Q1 2023

Koya Bay - North Miami Beach


Developer Macken Companies broke ground on its limited edition, guard-gated, waterfront community of smart townhomes in North Miami Beach this January. Redefining waterfront living, each 4-story townhome will feature a private boat dock, rooftop terrace, a private elevator, and a two-car garage with optional car lift. Residents will have privileged access to the community’s beach and boat clubs.

Designed by Randall Stofft Architects, each minimalist residence will come equipped with thoughtfully-designed wide floor plans and timeless finishes. Each luxurious townhome will feature private, waterfront terraces on every level, outdoor jacuzzi and kitchen, enclosed rooftop lounge, expanses of Calacatta porcelain, wood flooring, Wolf kitchen appliances, Caesarstone countertops with waterfall island, built-in wine storage, spa-like bath accented by a soaking tub, Hansgrohe fixtures, smart home tech, and more.

Prices start at $2.2 million for a limited collection of 10 four-story townhomes with 3 to 5 bedrooms


January 2022 - Miami Pre-construction Condo Projects Approved



Ytech’s 1,049-foot Luxury Supertall – Brickell

Ytech’s 1,049-foot Luxury Supertall – Brickell


Winning approval from the Federal Aviation Administration for a 1,049-foot-tall luxury condo tower, Ytech will be building 
Waldorf Astoria’s equivalent (in height) at 1428 Brickell Avenue. The luxury residential project will offer hotel-like services. More details to follow soon.


January 2022 - Miami Pre-construction Condo Projects - Construction Updates



Waldorf Astoria Hotel and Residences – Downtown Miami

Groundbreaking – Q1 2022 | Completion – 2026

Waldorf Astoria Hotel and Residences – Downtown Miami


Demolition work at Miami’s first Waldorf Astoria condo-hotel began this January. 72% sold within just 9 months of launching sales, the buyer mix at Florida’s first supertall represents 55% domestic buyers and 45% foreign buyers.

Designed by Burj Khalifa-architect Carlos Ott in association with the famed Sieger Suarez, this 100-story supertall will look like a staggering stack of nine glass cubes. With the hotel suites in its bottom 3 cubes and condos plus amenities in the upper 6, the all-glass skyscraper will feature a total of 306 condos and 205 hotel rooms.

Interiors will be curated by San Francisco’s award-winning BAMO, and residents will come home to fully finished units with gourmet kitchens, custom Italian cabinetry hand-picked by BAMO, a high-end appliance package, fully built-out closets, flooring selections recommended by BAMO, Savant premium smart-home tech systems with custom mobile app access, and more.

Amenities at the 5-star supertall will include an immersive, resort-style pool with outdoor café and private cabanas, the brand’s famous Peacock Alley lounge, a signature restaurant, an all-day dining brasserie, signature spa, fitness center with private training studios, private wine tasting room, owner’s lounge with billiards, kids’ club, preferred rates and access to the hotel’s services, and more.

For more information on Waldorf Astoria’s legendary brand and what it expects to deliver in its 100-story supertall in Miami, go here.

Prices start at $650,000 for Junior Suite Residences, $1 million for a 1-bedroom, $1.7 million for a 2-bedroom, $3,100,000 for a 3-bedroom, and $4,900,000 for a 4-bedroom residence


Lofty Brickell – Brickell

Groundbreaking – Q4 2022 | Completion – 2024

Lofty Brickell - Brickell


Announcing a
Q4 2022 groundbreaking date, developer Newgard Development Group has also confirmed a 50% sell-out of its ready-to-rent luxury tower. Rising 42 stories along Brickell’s dynamic riverfront, the minimalist postmodern condo building will feature 364 condos.

Designed by the award-winning Arquitectonica, Lofty Brickell will be the first of three towers planned for the waterfront site. Built with green building technology to reduce its carbon footprint, the tower’s turnkey units will feature high-end interior touches curated by INC.NY.

Rising 400 feet along Miami River, amenities at Lofty Brickell will include a “jewel box” double-height glass lobby with access to the Underline, 12,000 square feet of commercial space, and a private marina. Other amenities will include a riverfront 5-star restaurant, resort-style pool with cabanas, poolside bar and grill, a LOFTY rooftop experience, fitness center with private Peloton studios, a yoga lounge and terrace, co-working lounge with private meeting rooms, event room, access to the LOFTY concierge app, and more.

For more information on Lofty Brickell and its short-term rental investment opportunities, read here or watch our in-depth video here 

Prices start at about $500,000 for studios, $554,000 for one-bedrooms, and $903,000 for two-bedroom residences


January 2022 - Miami Pre-construction Condo Projects- Other Updates



Casa Bella by B&B Italia (previously Auberge Residences) – Arts & Entertainment District

Groundbreaking – Late 2022 | Completion – Late 2025

Casa Bella by B&B Italia (previously Auberge Residences) – Arts & Entertainment District


Developers Related Group and Alta Developers announced that their Italian living-inspired Casa Bella was 20% sold within the first month of launching sales. Casa Bella by B&B Italia will be a 57-story tower with 306 luxury condo units, housing only 6 to 7 residences per floor.

Designed by Arquitectonica, the high-rise will flaunt a distinctive wave-like façade. Its angled balconies will enhance the rippled effect while maximizing views at every level. With internationally-acclaimed Italian designer Piero Lissoni on board, future residents can expect a curated Italian lifestyle along with signature interiors. Residences will feature high-end touches like imported porcelain flooring, sleek Italian cabinets by ITALKRAFT, a top-of-the-line black glass appliance package, lavish master baths designed by Piero Lissoni, and more. 

Owners at Casa Bella will be allowed to rent their units up to 6 times a year, with a minimum stay restriction of 30 days. 

Owing to their branded partnership, future residents will find B&B Italia’s plush furnishing in common areas and also have the option to get a custom furnishings package for their residence. Amenities will include contemporary artwork and sculptures by Italian masters, a sky pool terrace and private observatory with a high-tech telescope, a 12th-floor pool deck with Italian-style gardens, a Bay-view 78-foot lap pool, a poolside Mediterranean café, open-air yoga lawn, luxury spa, a pickleball court, game room, children’s playroom, beauty salon, comfortable work-from-home (WFH) lounge, and more.

For more information on the branding partnership, features, and location of Casa Bella by B&B Italia condo residences, go here. Or watch the in-depth video, here. 

Prices start in the high $600,000s, with a choice of one- to four-bedroom residences and an exclusive penthouse collection 

729 Edge (also 710 Edge) – Edgewater

729 Edge (also 710 Edge) – Edgewater


Getting closer to building 729 Edge, developers (including part of the team behind Downtown’s 
One Thousand Museum) completed their assemblage by closing on the 15-unit Harbor 29 building. With their demolition and FAA approvals already in place, the developers will be looking to break ground soon in the busy Edgewater neighborhood.

Designed by ODP Architecture & Design - also locals architects at Zaha Hadid’s One Thousand Museum - the 55-story 729 Edge will rise with a similar-looking exoskeleton and rooftop helipad. With a total of 70 luxury residences, the boutique tower will feature no more than two residences per floor. Amenities expected of the waterfront tower include 16,489 square feet of commercial/restaurant/retail space above ground level, a private dock, top-floor sky lounge, juice bar, indoor pool, spa, fitness center, residents’ lounge/bar, theater, private dining room, business center, and salon. There will also be a separate 9-story garage with 193 parking spaces, rooftop activity space, and commercial space.


E11even Residences Beyond – Downtown Miami

Groundbreaking – Q1 2022 | Completion – Summer 2025

E11even Residences Beyond – Downtown Miami


With their sales center expected to open in a few weeks, developers E11EVEN Partners and PMG announced that the luxury tower is 50% sold after launching sales in November 2021. E11even Residences Beyond will rise 65 stories a few blocks from the fully sold out first tower called 
E11even Hotel & Residences.

With the same team as the first tower, E11even Residences Beyond will be designed by Sieger Suarez Architects, sharing the same all-glass structure. This highly exclusive twin to E11even Hotel & Residences will house 461 ultra-luxury residences. The award-winning, New York-based AvroKo Hospitality Group will be handling interiors for the turnkey units. The fully furnished residences will feature flooring selections curated by AvroKo, custom imported ITALKRAFT millwork and cabinetry, custom countertops & backsplashesPMG's smart home technology system, and more.

Offering a highly exclusive, “members-only” experience, Beyond residents will gain access to the first tower’s amenities via a one-way, access-controlled sky bridge. Amenities will include a rooftop helipad, resort-like sun lounge deck with a 93-foot pool, fully-staffed executive office suites, access to the E11EVEN Residences Beyond Members Social Club, and more.

Owners at this second tower will be allowed short-term rentals with a minimum restriction of 30 days. Read more about the location, building amenities and features of the newly launched E11even Residences Beyond here that also accepts cryptocurrency.

Read more about residence features and building amenities at the fully sold-out first tower, E11even Hotel & Residences here.

Prices start in the mid $300,000s or equivalent cryptocurrency rate, with a choice of studios to two-bedroom residences, penthouses, and a presidential collection

 


Watchlist



Denny’s Restaurant Site Sold – Edgewater

Denny’s - Edgewater


Closing on Edgewater’s famous eatery, Denny’s, a developer has paid $24 million for the 1.18-acre corner property at the intersection of Biscayne Blvd and 36th Street. The reason this sale makes it to our watchlist is that is zoned for the development of 500 residential units per acre and it’s a key location the boundaries of Edgewater, Midtown and the Design District.


Witkoff Group’s 3-Tower Residential Project – Downtown Miami

Witkoff Group’s 3-Tower Residential Project – Downtown Miami


After announcing its plans to redevelop the iconic Shore Club Hotel and adjacent Cromwell Hotel in South Beach, developer Witkoff Group announced plans to build a mixed-use project at the former Miami Arena site at the Miami Worldcenter. It has not been clarified whether the residential development will feature condos or apartments.

The project is proposed to feature 3 separate tower structures rising above the 8th-floor amenity deck. Designed by Miami’s prolific Kobi Karp, the towers will rise to a maximum of 57 stories with vertical greenery and a U-shape orientation with a total of 2,351 residential units. The development will also likely include a 40,000 square-foot supermarket, office space, some retail, a lush park buffering it from the railroad, and 2,457 parking spaces.


Brightline Supertowers - Downtown Miami

Brightline Supertowers - Downtown Miami


Approved to build twin 83-story supertowers at Brightline’s MiamiCentral, developer J3T Ventures, LLC of New York has the green to go ahead with plans. The proposed development is expected to include 2,007 residential units and 49,634 square feet of retail. The 10-story podium in the building will house 2,136 parking spaces from levels 2 through 10. The twin towers come designed by Zyscovich.


Terra Group’s 5-story Mixed-use Project – Bay Harbor Islands

Terra Group’s 5-story Mixed-use Project – Bay Harbor Islands


The Terra Group has locked down a $141.8 million construction loan to build its mixed-use project at 1177 Kane Concourse. The 1.83-acre development will include a 5-story boutique building with 90 residential units, 14,900 square feet of commercial space, 98,800 square feet of Class A offices, retail space with a signature food and beverage experience, and about 500 parking spaces. Amenities will include a rooftop pool deck and recreation terrace for the office tower. It has not been confirmed whether the residential portion will feature condos or rental apartments.


Demolition of Deauville Resort – North Beach

Demolition of Deauville Resort – North Beach


Declared unsafe, the historic Deauville Resort in Miami Beach is scheduled for a demolition by implosion. The resort shutdown in 2017. The reason we’re keeping a watch is that the historics and storied oceanfront site is ripe for luxury condo development and the sort developers have been picking up lately.


Massive 1,441-unit Tower – Arts & Entertainment District

Massive 1,441-unit Tower – Arts & Entertainment District


P
lanned next door to the Signature Bridge, Miami-Dade has initially approved a massive mixed-use tower to be built at 1370 NE 2nd Ave. Designed by Rafael Viñoly architects, the 649-foot, 43-story tower will feature 1,441 residential units, 5 floors of amenities, and 9 levels of parking. The development will also be home to ground floor commercial, 19,673 square feet of office space, and an auditorium for The School Board of Miami-Dade County. 

If you are interested in investing in or purchasing a pre-construction project in Miami and would like more information or to schedule an appointment, please call, chat, or e-mail us anytime. We are experts in new and pre-construction projects in South Florida from Miami to Fort Lauderdale and the Palm Beaches.

 

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