January 2023: Miami’s New and Pre-Construction Condo Update

January 2023: Miami’s New and Pre-Construction Condo Update

Feb 06, 2023 February 06, 2023

Just as it’s been confirmed that Miami's luxury condo market is far from losing steam (take a look at the 2022 annual numbers here), our condo pre-construction market started 2023 on a robust note. This January, two new oceanfront condo projects launched sales – Bal Harbour’s Rivage and South Beach’s Shore Club Private Collection. Both high-design projects will make an iconic addition to Miami’s oceanfront, adding new luxury to iconic neighborhoods.

In addition to new launches, the short-term-rental-friendly Lofty Brickell and The Crosby Downtown broke ground. Plans for a Brickell Key supertall and a Surfside condo addition were revealed. Also, demolition work finally started on 729 Edge, giving the Edgewater condo project a definitive timeline. 

Read on for more details on these and other updates in our monthly Miami condo pre-construction market roundup for January 2023:

Table of Contents - Miami Condo Pre-Construction Market

January 2023 - Miami Condo Pre-Construction Market- Sales Launched

January 2023 - Miami Condo Pre-Construction Market - Broke Ground

January 2023 - Miami Condo Pre-Construction Market - Approved

January 2023 - Miami Condo Pre-Construction Market - Planned/Proposed

January 2023 - Miami Condo Pre-Construction Market - Other Updates

— January 2023 - Miami Condo Pre-Construction Market - Sales Launched

Rivage – Bal Harbour

Groundbreaking – Mid-to-Late 2023 | Completion – N.A.

Rivage - Bal Harbour

After about a decade, Bal Harbour will get its first set of brand-new luxury condos, fine-tuned to deliver a new standard of condo living in this upscale neighborhood. Developed by the Related Group, Two Roads, and Rockpoint, the Rivage oceanfront condo project was initially submitted as The Residences at Bal Harbour in October 2021.

Looking to replace the 1956-built Carlton Terrace condos, the co-developers acquired the 2.55-acre site at 10245 Collins Avenue for $115 million in a bulk buyout deal.

Designed by New York’s Skidmore, Owings & Merrill in collaboration with Miami Lake’s CFE Architects, this once-in-a-generation luxury tower will rise 24 stories with only 61 “sky villa” condos. Fronting 200 feet of pristine ocean, the tower will carry a tropical modern aesthetic, featuring three interconnecting glass ovals evoking a crystalline coral reef while maximizing water views.

With interiors by Rottet Studio, residents will be treated to custom kitchens with Sub-Zero and Wolf appliances, as well as custom-designed bathrooms and closets with imported Italian finishes. All residences will be built to offer a single-family home experience with open-concept floorplans, oversized terraces, and direct water views.

Dedicated to the well-being of its residents, Rivage will feature over 25,000 square feet of wellness-related amenities, including a fitness pavilion with panoramic views, a hammam spa, hot/cold plunge pools, pickle and paddle ball courts, and more. Other amenities will include a pool, a cocktail lounge with chef-driven food & beverage services, a VR game simulator, a kid’s playroom, plus a 24/7 residential butler and dedicated lifestyle concierge.

Prices range from $8 million to $64 million, with a choice of 3,300-square-foot residences to 13,000-square-foot penthouses.

The Shoreclub Private Collection  – South Beach

The Shoreclub Private Collection  – South Beach

Developers Witkoff and Monroe Capital recently launched The Shoreclub Private Collection of residences starting at $6 million. Designed By Robert A.M. Stern Architects (RAMSA), in collaboration with Kobi Karp, the 18-story, 200-foot-tall oceanfront tower will include only 49 luxury residences – with no two floorplans alike. RAMSA’s first-ever oceanfront project, the view-focused tower will feature a rounded design inspired by waves, underscored by a nautical spin on Miami Beach’s iconic MiMo-style (Miami Modern) architecture.

RAMSA will be collaborating with Miami’s celebrated Kobi Karp Architecture & Interior Design. All residences will feature nautical and yachting references, including the use of rich woods like mahogany and oak, nickel and brass accents, plus swooping walls and arched windows. Large glass walls will open up to oversized terraces with direct ocean views.

Amenities at this oceanfront project will include a residents-only pool, a private world-class fitness center, a library, a lounge, access to Auberge Resorts Collection’s tailored services with in-home offerings, Auberge’s world-class beach club, a signature restaurant, poolside café and bar with dedicated cabana service, double-height café and bar, plus lush botanical gardens designed by Island Planning Corporation.

The original Shore Club Hotel will be preserved and renovated into a 5-star resort with 75 modern suites designed by Bryan O’Sullivan Studio – all managed and operated by the Auberge Resorts Collection.

The Cromwell, another building in the complex, will also be renovated and integrated as a private entrance for residents, with four duplex residences on its upper floors.

Prices start at about $6 million, with a choice of 49 distinct floorplans plus a 6,000-square-foot single-family beach house.

— January 2023 - Miami Condo Pre-Construction Market - Broke Ground

Lofty Brickell – Brickell

Groundbreaking – January 2023 | Completion – 2024

Lofty Brickell – Brickell

88% sold and approved by FAA to be built at a height of 574 feet above ground, developer Newgard Development Group celebrated the ground-breaking of its riverfront condos this January. To be delivered fully furnished and allowing short-term rentals, Lofty Brickell will be the first of three towers planned for the waterfront site. Together, the towers will house 782 residences, 11,364 square feet of a full-service restaurant, and 13,928 square feet of office space.

Designed by Arquitectonica, the minimalist, postmodern tower will rise 42 stories along Brickell’s riverfront. Constructed using green building tech, the tower’s 362 fully furnished condos will feature high-end interior touches curated by INC.NY.

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 key amenities will include a resort-style pool with cabanas, a poolside bar and grill, a LOFTY rooftop experience, a fitness center with private Peloton studios, a yoga lounge and terrace, a ground-level 5-star restaurant, an indoor/outdoor cigar lounge, a 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 this.

Prices start at about $600,000 for 500-square-foot units up to $3.5 million for a 1,300-square-foot residence.

The Crosby (Miami Worldcenter) – Downtown Miami

Groundbreaking – January 2023 | Completion – Q1 2025

The Crosby (Miami Worldcenter) – Downtown Miami

On track for a 2025 completion, The Crosby broke ground on schedule this January. Fully sold out, the 33-story is also submitted to FAA for a height approval at 377 feet above ground. Developed by Related Group and Merrimac Ventures, the ready-to-rent tower will be built without parking and owners will easily be able to list on any home-sharing site.

Designed by Cohen Freeman Encinosa, the 33-story Crosby will feature interiors and furniture by New York’s Avro Ko. It will also be home to 3,370 square feet of retail space. Each of its 450 residences will be delivered fully furnished - complete with gourmet kitchens, 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.

Owners at The Crosby will further have access to an optional in-house management program and third-party management services to handle short-term rentals. Boasting over 22,000 square feet of amenities, residents will gain access to an expansive rooftop pool deck with BBQ stations, juice and coffee bar, a fire pit lounge, a private rooftop restaurant-bar, a fitness center with plunge pools, a gaming lounge, co-working spaces, museum-quality art, Italian-inspired trellis gardens, and much more.

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

— January 2023 - Miami Condo Pre-Construction Market - Approved

Naftali Group’s Two Supertalls for Miami Worldcenter – Downtown Miami

Naftali Group’s Two Supertalls for Miami Worldcenter – Downtown Miami

Securing a height approval from the Federal Aviation Administration, New York-based developer Naftali Group will be moving full steam ahead with its plans for the Miami Worldcenter. Its twin-tower project will now rise 691 feet above sea level, replacing Paramount Miami Worldcenter’s former sales center at 1016 Northeast Second Avenue.

The site was previously owned by Akara Partners. Naftali Group purchased the parcel for $40.5 million this March. Although the group is yet to name a design firm for the proposed project, it has Robert A.M. Stern Architects working on multiple projects in New York.

One River Point – Miami River

One River Point – Miami River

Approved by FAA, once again, to rise to a height of 797 feet above sea level, co-developers Shahab Karmely of KAR Properties and Edgardo Defortuna of Fortune International Group can now move ahead with their plans for the riverfront site. The co-developers purchased the site for $58.85 million last November.

Designed by Uruguayan architect Rafael Viñoly, the 60-story twin luxury towers will be connected at the top. Featuring a total of 300 condo residences, proposed amenities for the riverfront development include an 8,000 square-foot waterfront restaurant and lounge, landscaped sculpture garden designed by Sasaki Associates, an indoor kids’ club, the largest riverfront leisure pool (more than 130 feet long), a half-Olympic-sized lap pool, B&B Italia-furnished cabanas, fitness facility and wellness center provided by The Wright Fit, rotating art exhibits, and more.

— January 2023 - Miami Condo Pre-Construction Market - Planned/Proposed

First-ever Supertalls – Brickell Key

Submitted to FAA for a height of 1,049 feet and 700 feet each, Brickell Key could end up gaining two new supertalls. The two towers are planned to stand on the southern tip of the island. More details on the developer and buildings are yet to be revealed.

New Oceanfront Condos – Surfside

An affiliate of Fort Partners purchased the 0.54-acre site at 9163 to 9165 Collins Avenue for $41.5 million this January. Fort Partners is best known for developing the Four Seasons Residences at the Surf Club in Surfside.

The oceanfront site is currently home to the Hillcrest by the Sea co-op building and sits north of the Surf Club. Built in 1949, the 24-unit building will be torn down to make way for a new luxury condo tower. Designed by Hollywood-based ODP Architecture, the mid-rise tower will house luxury residences ranging from 10,000 to 12,500 square feet in size along with 32 parking spots in an underground parking garage.

— January 2023 - Miami Condo Pre-Construction Market - Other Updates

Cipriani Residences – Brickell

Groundbreaking – Early 2023 | Completion – Late 2025

Cipriani Residences – Brickell

Those visiting the Cipriani Residences’ sales center will now be greeted by a scale model of the ultra-luxury residences, a full-size kitchen, and master bathroom. Designed by Arquitectonica, the 80-story tower will rise with 420 bespoke residences.

The Cipriani Residences will be built to embody the Italian standards of hospitality known of the house of Cipriani, with interiors by 1508 London. All condo residences will feature expansive terraces, custom Italian kitchen cabinetry, Wolf/Sub-Zero appliances, an intelligent interface with access to building services, and much more.

Besides delivering the legacy brand’s world-class services and distinguished style, amenities will include a two-story, two-pool deck with cabanas and food service, a sun terrace, a spa, a salon, a fitness center, a pickleball court, golf simulator, a screening room, a library, children’s playroom, round-the-clock Cipriani dining services inclusive of a Cipriani bar and private dining rooms, 10,000 square feet of retail, a dog park, and more.

Developer Mast Capital has further applied for a construction permit for its three-tower development at 1420 S. Miami Avenue. Together, while the three towers will deliver 1,300 residential units (inclusive of the 420 condos in Cipriani) along with an 18,300 square-foot full-service restaurant, 1,646 car parking spaces, and 2,472 bike parking spaces.

While the Cipriani tower will rise 80 stories, the other two, which are not Cipriani branded, will be built to a height of 50 and 60 stories only. The other two towers, developed in association with Boston-based Rockpoint Group, will house 880 luxury rental apartments.

Find more details on Brickell’s landmark-in-the-making Cipriani Residences, here.

Prices start at $1.1 million, with a choice of one plus den- to four-bedroom residences.

729 Edge (also 710 Edge) – Edgewater

Groundbreaking – 2023 | Completion – NA

729 Edge (also 710 Edge) – Edgewater

Demolition is now underway at the 
One Thousand Museum-inspired 729 Edge condo tower in Edgewater. Having signed its utilities agreement last August, plans were sealed for a 55-story, 649-foot tower.

Designed by ODP Architecture & Design - also architects at Zaha Hadid’s One Thousand Museum - the ultra-luxury tower will rise with a prominent exoskeleton and Edgewater's first rooftop helipad. The boutique tower will feature 70 luxury condos, with no more than two residences per floor.

Amenities at the bayfront tower will 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.

Casa Bella by B&B Italia (previously Auberge Residences and 1400 Biscayne) – Arts & Entertainment District

Groundbreaking – Early 2023 | Completion – Late 2025

Casa Bella by B&B Italia (previously Auberge Residences and 1400 Biscayne) – Arts & Entertainment District

After relocating its sales center to the Design District (4141 NE 2nd Avenue), Casa Bella by B&B Italia won approval to demolish the 3-story office building on-site at 1400 Biscayne Boulevard. Co-developers Related Group and Alta Developers had applied for a demolition permit last September.

Designed by Arquitectonica, the luxury branded tower will rise with only 6 to 7 residences per floor for maximum privacy. It will feature a unique, wave-like façade with angled balconies meant to enhance its rippling effect and maximize views.

Affording a highly curated Italian aesthetic, all 317 luxury residences at the Casa Bella will flaunt interiors by the internationally-acclaimed Piero Lissoni. Residents will be treated to high-end touches such as imported porcelain flooring, sleek Italian cabinets by ITALKRAFT, a top-of-the-line black glass appliance package, lavish master baths custom-designed by Piero Lissoni, designer fixtures, and more.

Owing to its branded partnership with B&B Italia, the luxury tower will feature signature furnishings in common areas as well as give buyers the option to get a custom furnishings package for their residences.

Highlight amenities will include a sky pool terrace and private observatory with a high-tech telescope, a Bay-view 78-foot lap pool, a poolside Mediterranean café, a 12th-floor pool deck with Italian-style gardens, an open-air yoga lawn, a luxury spa, contemporary art by Italian masters, a pickleball court, game room, children’s playroom, beauty salon, comfortable work-from-home (WFH) lounge, and more.

Owners will also be allowed to rent their units up to 6 times a year, with a minimum stay restriction of 30 days. Casa Bella will be part of a 3-tower complex, ultimately including 1,430 residential units and 1,629 parking spaces - all connected by a podium. For more on the B&B Italia-curated luxury, Italian features, and location of Casa Bella by B&B Italia condo residences, read here. Or watch an 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.

The Residences at 1428 Brickell – Brickell

Groundbreaking – Q3 2023 | Completion – 2027

The Residences at 1428 Brickell – Brickell

Developer Ytech has filed for a demolition permit to build the world’s first partly-solar-powered residences. With Cosentini Associates as its solar energy consultants, this will be the first-ever, residential high-rise to be partially powered by solar energy.

Featuring a 20,000-square-foot “solar backbone” on its western façade, the condo tower will be capable of generating 170 megawatts of clean energy per year. With this, developers aim to reduce about 4,700 tons of CO2 emissions and save about 3,000 barrels of oil per year.

Designed by Italian starchitects Antonio Citterio & Patricia Viel (ACPV Architects) in association with Arquitectonica, The Residences at 1428 Brickell will rise 70 stories with 189 ultra-luxury residences. Besides flaunting a flowing, nature-inspired design, the bayfront tower will afford earthy interiors by ACPV Architects. All residences in this LEED-certified tower will be plus-den. They will further feature expansive floorplans balanced for day- and night-time use as well as socially-charged and private settings. 

Watch our exclusive video for The Residences at 1428 Brickell here.

Built around the resident, amenities at this high-design tower will include a 7th-floor resort deck with two pools, aquatic therapy, a children’s splash pad, plus a club bar and lounge. There will also be a teen’s sports simulator, a children’s interactive playground and creativity room, a children’s learning center, a cinema room, 10,000 sq. ft. of dedicated gym and spa space, a wellness concierge, a golf simulator, a beauty suite, barbershop, plus an outdoor sun terrace with yoga pavilion.

Additionally, residents will gain access to a two-story owner’s club and rooftop observatory, a double-height wine and spirits lounge, a two-story atrium with lush planting, a rooftop lounge bar, plus a library lounge with tea, coffee, and champagne offerings. For more information on the exquisite, solar-powered, ultra-luxury Residences at 1428 Brickell, go here.

Prices range from $2 million to $7 million, with a choice of 2- to 4-bedroom plus den residences, including a Penthouse Collection priced from $8 million to over $40 million.

St. Regis ResidencesSunny Isles Beach

Groundbreaking – Early 2023 | Completion – 2026

St. Regis Residences - Sunny Isles Beach

The St. Regis Sunny Isles sales gallery was abuzz this January for two reasons. First, it unveiled new renderings and a sculpture by Italian artist Lorenzo Quinn at its entrance, which will later be installed within the residences. Second, it achieved nearly $750 million in reservations in under 6 months.

Developed by Fortune International Group and Chateau Group, the St. Regis Residences in Sunny Isles Beach will rise as a pair of oceanfront towers. With sales for the south tower launching first, the tower will rise 739 feet above ground or 62 stories with 194 luxury residences. The north tower will rise 744 feet above the ground with 180 luxury condos.

Designed by Arquitectonica with interiors by Sao Paulo-based designer Anastassiadis, future residents can expect to be treated to exceptional attention to detail at these stunning towers. Furnishings in both towers will be curated by
Artefacto, while EDSA will handle landscape design. Besides access to the hospitality brand’s benchmark butler services, amenities will include access to private beach facilities, oceanfront and sunset pools, a wellness center & spa, an athletic club, a signature restaurant, 1,000 parking spots, and much more. Rising against 435 linear feet of pristine oceanfront, the ultra-luxury residences will offer a purely residential experience with no transient use (hotel use).

Prices start at about $3 million, with a choice of two- to five-bedroom residences. 

The Elser Hotel & Residences – Downtown Miami

Groundbreaking – 2019 | Completion – November 2022

The Elser Hotel & Residences – Downtown Miami

The recently completed Elser Hotel & Residences has successfully garnered
$80 million in sales in less than 60 days. Developed by PMG and Greybook, The Elser is one of the only new, fully furnished, short-term-rental-approved, move-in-ready towers in Downtown Miami.

Designed by Sieger Suarez Architects, the Elser is a 49-story tower with 646 luxury residences. Each turnkey residence is going to feature porcelain wood-grain tile flooring throughout, smart keyless entry systems, smart home tech, custom kitchen cabinetry by Italkraft, stainless-steel appliances by Frigidaire, frameless glass-enclosed showers, and more.

Owners at The Elser are allowed daily rentals with the option to enroll in the in-house, short-term rental program. Those opting in will benefit from having their properties professionally managed by New York-based Highgate.

Amenities at the move-in-ready Elser include a lobby-level cocktail bar & restaurant by Jaguar Sun, coffee lounge by Cafe Domino, a 132-foot resort-style pool with private lounge areas, a 16-foot poolside screening LED wall, a sky entertainment lounge, a bi-level coworking lab, a bi-level gym, access to the custom Society Residences app, curated art murals and green walls throughout its common spaces, electric vehicle charging stations, and more. The tower is also home to 48,000 square feet of office and 5,000 square feet of prime retail space.

Prices start in the $600,000s, with a choice of studios to 3-bedroom residences.

Aman Hotel and Residences – Mid-Beach

Aman Hotel and Residences – Mid-Beach

Securing a $242 million construction loan this January, developer OKO Group is all set to soon break ground on Aman Resorts’ first U.S. location for a luxury condo-hotel. This brings the developer’s loan total to about $277 million.

Designed by famous Japanese architect, Kengo Kuma in partnership with Revuelta, this Aman-branded condo-hotel will include a restored version of the 14-story, historic Versailles Hotel and a new, 18-story residential tower. The hotel tower will rise with 56 rooms and 22 condos. The stand-alone condo tower will feature 41 residential units. Expected amenities include a rooftop pool deck, rooftop restaurant and bar, world-class spa, plus a ground-floor restaurant.

Chetrit Group’s River District Condos – Brickell

Groundbreaking – Early 2023 | Completion – 2026

Chetrit Group’s River District Condos – Brickell

With painting now underway at its first rental tower out the ground, New York-based developer Chetrit Group announced plans to soon break ground on its luxury condo offering part of the four-tower district. Sales for the riverfront luxury condo residences are expected to launch early in 2023.

Designed by Miami’s award-winning Kobi Karp, the entire project aims to transform over 6 acres of Miami River’s waterfront into a premier destination. Interiors at the luxury condo tower will be handled by New York’s award-winning Rockwell Group.

The remaining towers at The River District will include a Class A office tower, two premier rental buildings, plus a pair of two-story waterfront retail buildings. Developer Chetrit Group will also build a riverwalk, marina, and lush new streetscapes inspired by Brazil’s tropical modernism aesthetic. All restaurant and nightlife venues will be curated/managed by David Grutman of Groot Hospitality.

In all, The River District will feature about 1,600 world-class residences, Class A office spaces, 30,000 square feet of curated retail, a boat marina capable of accommodating 60-foot vessels, 2,000 covered parking spots, along with vibrant restaurants and nightlife venues. 

Like a pre-construction project you see? Call, chat, or e-mail us to purchase your next home in any of your favorite pre-construction condos - from Miami through to Fort Lauderdale.

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