Miami’s new construction condo market was buzzing with announcements this July. From 72 Park soft launching sales to Terra Group going bullish on a condo bulk buyout deal, there was plenty to watch out for as the market stepped into the second half of 2023.

This July, about 8 new residential projects were proposed, of which we’ll be keeping a close eye on Ugo Colombo’s Four Seasons in Coconut Grove, Lefferts’ second “72” condo tower in North Beach, and South Beach’s filler condo between the Sagamore and Ritz-Carlton. 

There were plenty of approvals to accelerate development at some highly anticipated projects such as E11even Residences Beyond and 600 Miami Worldcenter. Australian ATP Pro tennis player Nick Kyrgios could be your new neighbor if you plan on moving into the E11even Residences Beyond. Genting received four new bids for its massive waterfront parcel in Downtown Miami. And, Location Ventures’ Rishi Kapoor landed in a major soup with litigations and bribe allegations. 

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

July 2023 - Miami Condo Pre-Construction Market at a Glance

Sales Launched

• 72 Park – North Beach

Approved

• E11even Residences Beyond – Downtown Miami
• 600 Miami Worldcenter – Downtown Miami
• Casa Bella by B&B Italia – Arts & Entertainment District

Planned/Proposed

• Lefferts’ 72B – North Beach
• RFR Holding’s Supertall – Downtown Miami
• Ugo Colombo’s Four Seasons – Coconut Grove
• Mixed-use W2 & W9183 – Wynwood
• Hakimian South Tower – Arts & Entertainment District
• Sagamore-Ritz-Carlton Gap Condo – South Beach
• Summit Brickell – Brickell
• Riviera Horizons’ High-end Condos – North Bay Village

Construction Updates

• 501 First Residences – Downtown Miami
• Aria Reserve – Edgewater
• 65-Story Tower at the Miami Worldcenter – Brickell
• Una Residences – Brickell
• Waldorf Astoria Hotel and Residences – Downtown Miami 

Other Updates

• Cipriani Residences – Brickell
• Lofty Brickell – Brickell
• Rosewood (Raleigh) Residences – South Beach
• Baccarat Residences (also 444 Brickell) – Brickell
• The Avenue – Coral Gables
• Seville-inspired Village at Coral Gables – Coral Gables
• Shore Club Private Collection – South Beach
• Damac Properties’ 57-story Luxury Condo Tower – Surfside

Watchlist

• Genting’s $1B+ Resorts World Miami Site – Downtown Miami
• Location Venture’s Rishi Kapoor Caught in $25M Lawsuit
• Terra Group and Crescent Heights’ New Residential Tower – South Beach
• Terra Group Bids for Amethyst Condo Site – Mid-Beach
• Former White House Inn Property Re-sale – North Miami
  
  

— July 2023 – Miami Condo Pre-Construction Market – Sales Launched

72 Park – North Beach

Groundbreaking – N/A | Completion – June 2024

With completion inching closer, NYC and Miami-based development firm Lefferts’ soft launched sales for 72 Park. The short-term rental-approved condo tower is on track for an early 2024 delivery with top-off expected next month. In addition to no rental restrictions, owners will have unparalleled beach access just three blocks away.

Designed by Built Form and Arquitectonica, 72 Park will rise 22 stories with 206 condos. Galbut and Cohen have joined forces with Lefferts to build this spectacular condo project at 580 72nd Street in North Beach. All residences at 72 Park will be privy to spectacular 360-degree views, spanning from the Atlantic Ocean to the Intracoastal Waterway.

Interiors and landscaping at this LEED Gold-certified tower have been handled by Urban Robots Associates. Each fully furnished residence will feature high ceilings, deep balconies, Italian cabinetry, imported stone, energy-efficient appliances, keyless entry systems with SALTO and smart access controls premium bathroom fixtures, and more.

Outfitted with about 64,000 square feet of luxurious amenities, residents will enjoy access to a 35,000-square-foot amenity deck with about an acre of tropical landscaping, a 150-foot-long resort-style pool with cabanas, a bar and lounge with indoor-outdoor seating, a private outdoor barbecue area, a private rooftop with sun deck, an outdoor screening area for movie nights, a kid’s playroom, 24/7 coworking lounge with private “pods,” 8,500 square feet of ground-floor retail space, and more. There will also be an 8,500-square-foot ground-floor retail space including a restaurant and pizzeria named “Roberta’s,” imported from Brooklyn by the Michelin-star Chef Carlo Mirarchi.

Call, chat, or email us directly to take advantage of first pricing and grab your preferred unit early at this stunning short-term rental condo project!

Prices start from the $700,000s to $2.4 million, with a choice of junior, one- to three-bedroom residences.

— July 2023 – Miami Condo Pre-Construction Market – Approved

E11even Residences Beyond – Downtown Miami

Groundbreaking – June 2023 | Completion – 2026

Securing approval from Miami’s Urban Development Review Board (UDRB) this July, developers PMG and E11EVEN Partners can move ahead with construction of the highly anticipated E11even Residences Beyond. Last month, the ambitious development broke ground along with securing a $262 million construction loan. Over 80% of the building was sold out at that point. 

In July, controversial Australian tennis star Nick Kyrgios also went shopping for a home in this iconic tower. The star and his girlfriend were spotted trying out YUPIX’s Meta-Reality Experience, which allowed them to virtually walk through their probable future crash pad. 

The highly exclusive E11even Residences Beyond will rise 65 stories with 558 ultra-luxury, turnkey residences as well as 13,647 square feet of commercial space, 7,920 square feet of office space, and 216 parking spots, as per the latest UDRB filing. Boasting the same epic team as its sister tower, E11even Hotel & Residences, this exclusive tower is designed by Sieger Suarez Architects, bearing the same sleek, all-glass structure.

New York’s award-winning AvroKo Hospitality Group is handling interiors at E11even Beyond. Each fully furnished residence will feature flooring selections curated by AvroKo, custom imported ITALKRAFT millwork and cabinetry, custom countertops & backsplashes, PMG's smart home technology system, and more.

The highly exclusive, “members-only” experience at Beyond will give residents access to E11even Hotel and Residences’ amenities via a one-way-only access-controlled sky bridge (but not the other way around). Exclusive amenities will include a rooftop helipad, resort-like sun lounge deck with a 93-foot pool, fully-staffed executive office suites, and more.

Developers recently announced that the Beyond tower will also be home to The Clayton - a Chicago-based elite social club. The private club will occupy 10,000 square feet of social space on its second floor.  

Owners at E11even’s Beyond tower will also be allowed short-term rentals with a minimum stay restriction of 30 days to maintain a sense of privacy. Follow the link for more details on the location, building amenities and features of E11even Residences Beyond.

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

600 Miami Worldcenter – Downtown Miami

With its UDRB approval in place, 600 Miami Worldcenter is all set to rise 31 stories with 606 fully furnished condos, 3,750 square feet of restaurants, 1,261 square feet of office space, and just 5 parking spaces. Allowing short-term rentals, this sophisticated tower will be part of the mega Miami Worldcenter development site.

Designed by Revuelta Architecture International, the interiors at 600 Miami Worldcenter will be designed by The Design Agency. Amenities at this Airbnb-ready condo tower will include a resort-style rooftop pool, a bistro and bar by GPG Hospitality (one of New York City’s premier restaurateurs), an artfully designed residential lounge, world-class fitness center with an outdoor private training area by Homage fitness, a spa, summer kitchens & entertainment spaces, an arcade, a game room, a media room, plus dedicated co-working spaces.

Merrimac Ventures and Aria Development Group have partnered to develop this short-term rental-focused tower.

Prices start from the $400,000s, with a choice of studios to 2-bedroom residences.

Casa Bella by B&B Italia – Arts & Entertainment District

Groundbreaking – Summer 2023 | Completion – Late 2025 

With its site & soil permit in place and demolition work complete, developers Related Group and Alta can move ahead with breaking ground this summer. Designed by Arquitectonica, Casa Bella by B&B Italia will rise 57 stories with only 6 to 7 residences per floor for maximum owner privacy. The branded tower will feature a wave-like façade with angled balconies maximizing view corridors and enhancing the tower’s rippling effect.

With interiors by the internationally-acclaimed master of design, Piero Lissoni, all 317 luxury residences at the Casa Bella will flaunt a highly curated Italian aesthetic. 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.

As part of its partnership with B&B Italia, the 57-story tower will feature signature furnishings in its common spaces and provide buyers with the choice of custom furnishing packages.

Highlight amenities 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 requirement of 30 days to maintain privacy. Casa Bella will eventually be part of a 3-tower complex, offering a total of 1,430 residential units and 1,629 parking spaces - all connected by a podium. For more on the Italian features, B&B Italia-curated luxuries, and location provided in this spectacular tower, watch our exclusive and in-depth video on the Casa Bella by B&B Italia. 

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

— July 2023 – Miami Condo Pre-Construction Market – Planned/Proposed

Lefferts’ 72B – North Beach

Groundbreaking – 2024 | Completion – 2027

A few short weeks after launching sales for 72 Park in North Beach, developer Lefferts submitted plans for its sister development, 72B to Miami Beach’s Design Review Board this July. Tentatively named 72B, the Arquitectonica-designed tower will rise 20 stories with 125 condo residences.

Located at 600 72nd Street Miami Beach, just down the street from 72 Park, the 0.1-acre site is currently home to several two-story apartment buildings. 72B is likely to carry one- to three-bedroom units, with an average size of 1,200 square feet per residence. In addition to some commercial space for restaurants on the ground floor, the condo tower is expected to include 45,000 square feet of indoor and outdoor amenities, including a swimming pool, fitness center, spa, lounge, pickleball court, and basketball half-court.

RFR Holding’s Supertall – Downtown Miami

Looking to replace the 17-story Yve Hotel, a 12-story office building, plus an adjacent parking garage, developer RFR Holding has filed an application to build a supertall at 141 NE 3rd Avenue. Designed by Zyscovich Architects, the proposed tower will rise 104 stories or the maximum height of 1,049 feet with 1,074 condo units, each averaging 1,268 square feet. Facing Bayfront Park, the tower will also be home to 252 hotel rooms and 1,013 parking spots.

The New York-based developer paid a combined $131.8 million for the three properties last year. Three separate demolition permits have already been submitted to Miami’s Building Department to expedite the process.

Ugo Colombo’s Four Seasons – Coconut Grove

Following in the successful footsteps of Surfside’s Four Seasons Hotel and Residences at The Surf Club, developer Ugo Colombo plans to build another Four Seasons condo-hotel, this time in the tropically lush Coconut Grove. Colombo teamed up with Nadim Ashi’s Fort Partners to announce the project. Fort Partners is known to own and operate all Four Seasons properties in South Florida.

Located at 2699 South Bayshore Drive, Colombo’s CMC Group purchased the 9-story, brutalist architecture Kaufman Rossin office building in 2020. Built in 1972 and also known as the Offices in the Grove building, the site sits fronting the bayfront Regatta Park. The property is currently under demolition.

Mixed-use W2 & W9183 – Wynwood

Tentatively called W2 & W9183, developers Kushner and Block Capital submitted plans for two separate mixed-use projects to Wynwood’s Design Review Committee this July. Designed by Miami’s award-winning Arquitectonica, the mixed-use buildings will feature a green metal architectural frame, green aluminum railings, and green stucco with scorelines, along with gray and clear glass. 

Both of the 5-story towers will rise with 34 residential units, an activated rooftop, 5,250 square feet of ground floor retail space, but no onsite parking. Located at 91 NW 26th Street, the developments will stand within walking distance from the Wynwood Walls.

Hakimian South Tower – Arts & Entertainment District

Submitted with Miami’s Urban Development Review Board, a 42-story residential tower could soon be coming to Miami’s urban core. Proposed with 631 units, of which 125 are expected to be micro-units, the high-rise will likely be home to 3,140 square feet of commercial space, ground floor retail, amenity spaces, plus 469 parking spaces spread across 8 levels. 

Designed by Corwil Architects, the development seeks seven zoning waivers, inclusive of a 30% parking reduction. A north tower has been marked, but not yet been proposed by developer 16th Street Partners, LLC. 

Sagamore-Ritz-Carlton Gap Condo –South Beach

Pending approval from the Miami Beach Historic Preservation Board, developers Lionstone, Flag, and the Ben-Josef Group plan on completing their Sagamore-Ritz-Carlton parcel by building a condo to fill the gap. Designed by Miami’s prolific Kobi Karp, the 15-story luxury condo will rise with 30 residences right between and east of the hotels, which are already scheduled for redevelopment. 

Located at 1617 Collins Avenue, the condo building will stand behind the Sagamore and cantilever over part of the Ritz-Carlton lot. Lowensteins’ Lionstone Development, Kanavos family’s Flag Luxury Group, and the Ben-Josef Group aim to breathe new life into a portion largely dominated by hotels by introducing this residential product. The group also has submitted plans to redevelop the area of Lincoln Road where it meets Collins Avenue and the beach. 

Summit Brickell – Brickell

Groundbreaking – June 2024 | Completion – Summer 2027

Dubbed an “architectural work of art,” the Lore Development Group revealed plans for its 69-story tower this July. Located across from the Brickell Metrorail and Metromover station, the 825-foot tower will rise with 500 residential units, amenities on levels 13 and 69, 2,174 square feet of ground floor commercial space, plus 480 parking spaces on levels 2 through 12.

Designed by Corwil, the contemporary building is expected to elevate Brickell’s skyline with its shifting volumes and rounded corners. Located on the southeast corner of SW 1st Avenue and SW 10th Street, the elegant tower is expected to offer a variety of residences, including studios and three-bedroom floorplans ranging from about 496 to 1,436 square feet in size. The tower will also feature a rooftop pool deck. We will be watching to see if this becomes apartments or condos. 

Riviera Horizons’ High-end Condos – North Bay Village

Submitted to the village’s Planning & Zoning Board, developer 7940 NBV Partners LLC (managed by Mikael Hamaoui of Miami Beach-based Riviera Horizons and Paul Bensabat), proposed a condo at 7940 West Drive. Designed by Revuelta Architecture International, the 26-story condo tower will rise overlooking Biscayne Bay.

Aimed at long-term residents looking for larger, family-oriented condos, the 70-unit waterfront tower will be home to 16 two-bedroom units, 32 three-bedrooms, and 16 four-bedroom units – with its smallest starting at around 2,000 square feet. There will also be two rooftop penthouses with private pools and hot tubs. 

Affording panoramic views, the 26-story tower is planned as one of North Bay Village’s most luxurious condo developments. Amenities will likely range from a rooftop pool deck with gym and spa to a second amenity deck featuring a children’s playroom, movie room, library, coworking space, and lounge.

— July 2023 – Miami Condo Pre-Construction Market – Construction Updates

501 First Residences – Downtown Miami

Groundbreaking – December 2022 | Completion – Late 2025

After breaking ground past December, Aria Development Group and Kuwaiti real estate company Aqarat completed the fully sold-out tower’s foundation pour this July. The 40-story tower will be built without any parking and no rental restrictions.

Designed by Revuelta, the short-term rental approved 501 First Residences will rise in Downtown with 448 fully furnished residences. Featuring interiors by Shim Projects, all luxury residences will sport a balcony and a range of high-end touches including custom Italian cabinetry, innovative appliances by Smeg, Hansgrohe bathroom fixtures, and more. 

Besides 10,000 square feet of retail, future residents will be treated to a fully integrated ButterflyMX digital property access system, a rooftop deck with a 75-foot resort-style lap pool, an oversized swim-spa, grill and chill sunrise-sunset decks, a rooftop with year-round Greenhouse, a rooftop movie theatre experience, a bistro and bar concept by New York’s GPG Hospitality, an indoor gym designed by HOMAGE Fitness, a media room & library, an outdoor game lawn, a club suite with game tables, co-working spaces, pet lounge, and more. Aria Group has further agreed to build a 22-seat classroom for Miami-Dade County Public Schools to meet the demand generated by additional housing.

Click the link to discover more details on the Airbnb-ready 501 First Residences.

Prices started from the $300,000s.

Aria Reserve – Edgewater

Groundbreaking – May 2022 | Completion – Summer 2024

With its foundation pour completed this February, the south tower at Aria Reserve is already 16 stories out of the ground. Developer Melo Group is pushing for construction permits to break ground soon on the north tower, thus adding it to the impressive list of Edgewater new developments. 

Rising along Edgewater’s dazzling bayfront, the 62-story Aria Reserve will become the tallest, dual-tower residential development on a U.S. coastline upon completion. Designed by Arquitectonica, both towers will boast a unique zigzag pattern – affording them distinction on the shoreline. 

Owners at Aria Reserve will be allowed to rent up to 4 times a year. While Aria’s south tower will carry 383 luxury residences, the north tower will be home to 399 stunning units. All residents will gain access to direct water views, 11-foot-deep terraces, East-to-West flow-through floorplans, a dedicated office/bonus room, and interiors by MORADA Haute Furniture Boutique.

A 2-acre recreation deck will be the centerpiece of the bayfront development, inclusive of a semi-Olympic-sized lap pool, a children’s splash pad, a whirlpool spa, a gaming center, a teen lounge, and a playground. Other amenities at Aria Reserve will include a signature two-level waterfront restaurant and café, a telescope observatory area, a solarium, miniature golf, tennis courts, basketball courts, paddle courts, an indoor-outdoor wellness center, meditation gardens, a wine cellar, a theater room, dog park, and custom-designed water sports dock with rentable equipment.

Developer Melo Group will also be building a public park along 23rd Street and adding 550 linear feet to the Miami Baywalk, offering residents direct access to a 5-mile-long, bicycle and pedestrian-friendly waterfront promenade. Follow the link for more details on how Aria Reserve offers the best-priced waterfront residences in Miami’s Edgewater.

Prices range from $920,000 to over $2 million, with a choice of one- to four-bedroom condo residences. Penthouses start at $12 million.

65-Story Tower at the Miami Worldcenter – Brickell

With demolition work all wrapped up, the Naftali Group can now move onto prepping the ground for its 65-story residential tower to rise at 1016 and 1044 N.E. 2nd Avenue. Part of the city-within-a-city style Miami Worldcenter development site, the 65-story residential tower will share ground with the likes of the highly-amenitized Paramount Miami and the medically relevant Legacy Hotel & Residences.

Located just west of the Eleventh Street Metromover Station, the 1.02-acre site will be home to 786 residential units (condo and rental), about 3,600 square feet of retail, and 591 parking spaces in an 8-story garage (of which more than 100 spaces will be equipped for electric vehicle charging). Designed by Miami’s award-winning Arquitectonica, the 65-story tower will also feature two amenity pool decks on both its 9th as well as 44th floor. Units are likely to range from 471-square-foot studios to 2,045 square feet with three bedrooms.

Una Residences – Brickell

Groundbreaking – May 2020 | Completion – May 2024

With construction reaching the 32nd floor, South Brickell’s much-awaited Una Residences are closer to topping off. Developed by OKO and Cain International, the nautically-inspired tower has only eight units remaining.

Designed by the award-winning Adrian Smith + Gordon Gill Architecture (AS+GG), Una will rise 45 stories with 135 stunning residences. All residences feature unobstructed water views along with high-end touches such as Chef’s kitchens with Gaggenau appliances, marble and hardwood flooring options, private elevator access, and more.

Besides Miami’s deepest-ever parking garage - 3 stories below sea level - the ultra-luxury condo tower offers amenities such as three swimming pools, a separate kids’ splash and play area, an owner’s lounge, an outdoor lounge, a private dining room/party room, a kids’ indoor playroom, a movie theater, spa, beauty salon, high-efficiency, noise-reducing floor-to-ceiling exterior glass, a dog-walk area, private marina, direct access to the Baywalk, and more.

Prices for the remaining 8 units start at $3.8 million.

Waldorf Astoria Hotel and Residences – Downtown Miami

Groundbreaking – October 2022 | Completion – 2026

With their vertical structure expected to emerge out the ground in the first quarter of 2024, the highly anticipated Waldorf Astoria Hotel and Residences are on track for a 2026 completion. Developed by PMG and Greybrooks, the all-glass skyscraper will be one of the first supertalls, rising to a height of 1,049 feet, to grace Miami’s skyline. 

Designed by the world-famous Carlos Ott in association with Sieger Suarez, the 100-story skyscraper is conceptualized to look like a staggering stack of nine glass cubes. Home to a total of 306 condos and 205 hotel rooms, Miami’s first Waldorf Astoria will feature hotel suites in its bottom three cubes and condos plus amenities in the upper six. The all-glass skyscraper will further feature interiors by San Francisco’s award-winning BAMO.

Residents at the Waldorf Astoria condo-hotel will enjoy coming 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 much more.

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

Follow the link to find out how Waldorf Astoria’s hotel and residences is expected to set the bar higher for branded luxury in Miami. 

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.

— July 2023 – Miami Condo Pre-Construction Market – Other Updates

Cipriani Residences – Brickell

Groundbreaking – Late 2022 | Completion – 2026

Just weeks after hitting the market, Cipriani Residences’ first penthouse sold for $16.2 million – a record-setting price of $3,333 per square foot. Part of the “Canaletto Collection” unveiled by developer Mast Capital, the penthouse represents the highest tier of living at the condo tower. The high-end residence features 4,888 square feet of interior space or four bedrooms with five-and-a-half bathrooms, plus 4,333 square feet of outdoor terrace.

Designed by Miami’s highly acclaimed Arquitectonica design firm, Brickell’s Cipriani Residences will rise 80 stories with 420 ultra-luxury residences. All luxury residences and common spaces will be crafted to embody the Italian standards of hospitality known of the brand Cipriani. Residents will enjoy coming home to lavish interiors by 1508 London, 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-pool deck with cabanas and food service, a sun terrace, a spa, a salon, a fitness center, a pickleball court, golf simulator, screening room, 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 remaining buildings at the three-tower development located at 1420 S. Miami Avenue. Together, the three towers will deliver 1,300 residential units (inclusive of the 420 condos at Cipriani) along with an 18,300 square-foot full-service restaurant, 1,646 car parking spaces, and 2,472 bike parking spaces. The other two will be built to a height of 50 and 60 stories only. Developed in association with Boston-based Rockpoint Group, the remaining two towers will house 880 rental apartments.

Follow the link for more details on Brickell’s landmark-in-the-making, the Cipriani Residences. 

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

Lofty Brickell – Brickell

Groundbreaking – January 2023 | Completion – 2024

After successfully introducing meta-reality tours at Lofty’s sales gallery using YUPIX’s immersive tech capabilities, Newgard Development has now unveiled plans for the building’s impressive Skydeck. The versatile rooftop space will house 10,000 square feet of event space, capable of hosting small corporate gatherings to wedding receptions. The 44th-floor Skydeck will also feature a private pool, modular furniture, portable bars, plus a catering kitchen. When events are not scheduled, owners will have exclusive access to the space.

Designed by Arquitectonica, the minimalist, postmodern Lofty Brickell will rise 42 stories along Brickell’s stunning riverfront. Constructed using green building tech, the tower’s 362 fully furnished condos will feature high-end interiors curated by INC.NY. One of Miami’s most successfully sold condo buildings, this short-term-rental-friendly tower will be delivered move-in-ready.

Amenities at Lofty Brickell will further 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, co-working lounge with private meeting rooms, event room, access to the LOFTY concierge app, and more.

Lofty Brickell will also feature a Rockwell Group-designed outpost of New York’s acclaimed Greek restaurant, AVRA Estiatorio. It will be the first of three towers planned for Brickell’s busy riverfront. Together, the towers will house 782 residences, 11,364 square feet of full-service restaurant, and 13,928 square feet of office space.

Follow the link for more information on Lofty Brickell and its short-term rental investment opportunities.

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

Rosewood Residences – South Beach

Shortly after launching invitation-only pre-sales, developer Michael Shvo and partners secured a $190 million construction loan for their Raleigh Hotel redevelopment and new construction condo. The 3-acre oceanfront project entails redeveloping the historic Raleigh, South Seas, and Richmond hotels, along with building a brand-new 17-story condo tower.

Designed by New York’s Peter Marino and Miami’s Kobi Karp, the redevelopment project will include a 60-key hotel and 44-unit condo. Marking the first Rosewood-branded development in South Florida, the hospitality brand will manage and operate the restored hotel. Fronting 220 feet of pristine ocean at 1751, 1757 and 1775 Collins Avenue, the condo-hotel property will further feature a revamped version of Raleigh’s Martini Bar and Tiger Room, along with a private member’s club with beachfront dining.

Baccarat Residences (also 444 Brickell) – Brickell

Groundbreaking – Fall 2022 | Completion – Fall 2025

Miami’s Historic & Environmental Preservation Board voted to grant a preliminary archeological designation to a portion of the Baccarat Residences site, with an unclear effect on the project’s design or future. Considering the archeological findings excavated from the site, developer Related Group could be required to create a “preservation action plan,” which could entail creating an onsite, riverfront exhibition of all the findings.

Designed by Arquitectonica, Baccarat Residences is planned to rise 75 stories with 318 luxury residences, 28 riverfront flats and duplexes, and a 10,000-square-foot restaurant. The riverfront tower will feature an undulating façade as reflective as French crystals. Managed by Barry Sternlicht’s SH Hotels & Resorts, each of its luxury condos will boast high-end interiors by Meyer Davis Studio, characterized by a unique blend of 18th-century Paris, 21st-century Miami, and 1930s Art Deco influences.

Amenities at this waterfront tower will include a marina with yacht dockage, a luxury house yacht, plus a riverfront restaurant. Other amenities will include a pool, game room, spa, beauty salon and barber, wine cellar, children’s playroom, clubroom, grand salon for events, private workspaces, business center, and more. 

The ultra-luxury Baccarat will be the first in a three-tower complex. Tower II is proposed to rise 897 feet above ground with 506 rental apartments. Tower III is planned to rise 82 stories with a 249-room five-star hotel plus 103 residential units. All in all, the riverfront complex is expected to house 1,400 residences, a 249-room five-star hotel, and 24,463 square feet of retail. 

Prices range from around $1.1 million to $3.5 million per unit, with a choice of one- to four-bedroom residences. Penthouses will be upwards of $14 million.

The Avenue – Coral Gables

Groundbreaking – Fall 2023 | Completion – Early 2025

Coral Gables’ first luxury condo building approved for Airbnb-style short-term rentals hit 65% in pre-construction sales this July. Developed by Roger Development Group, The Avenue will carry a short-term rental management office on-site for owner convenience. 

Designed by Bermello Ajamil & Partners, the Parisian-inspired, neo-classical building will rise 8 stories with only 48 luxury residences. All residences will be delivered fully furnished with interiors by the Adriana Hoyos Design Studio. Built using green building tech, the residences will further feature luxurious and thoughtful layouts, 9 to 11-foot ceilings, and options for porcelain flooring, baseboards, plus designer paint. 

Located right across from Merrick Park Mall, The Avenue will feature amenities such as an artfully landscaped pool deck on Level 9, poolside lounge chairs and daybeds, a hammock garden, an outdoor rain shower, summer kitchens and family dining area, plus 3,861 square feet of ground-floor luxury retail space.

Prices start in the low $700s for a one-bedroom residence, while two-bedrooms start in the higher $900s.

Seville-inspired Village at Coral Gables – Coral Gables

Groundbreaking – Summer 2023 | Completion – Q4 2025

After securing a $67.5 million construction loan this July, MG Developer announced that it will soon be breaking ground on its 2.6-acre, landmark project. The Seville-inspired enclave will feature tree-lined streets, plazas, fountains, parks, and gardens inspired by the alcoves in the Plaza de España.

Paying homage to George Merrick’s legacy, the boutique 48-residence enclave will comprise of duplexes, townhouses, and condos set through 17 lots at 535 Santander Avenue. Designed by De La Guardia Victoria Architects & Urbanists, Gables Village will be built in the Mediterranean Revival style of architecture, with its tallest building topping off at four stories. With residences built for modern-day comforts, each 1,750 to 3,100-square-foot unit will come elegantly appointed with several luxurious touches.

A 4,000-square-foot wellness club will stand as the centerpiece of amenities at this Spain-inspired enclave. The lavish club will feature a contemporary and tropical ambiance, complete with an indoor-outdoor terrace lounge for events and gatherings, a fitness wing, a luxurious plunge pool, a library, plus a conference center.

Prices start at $2.03 million, with a choice of condos, duplexes, and townhomes.

Shoreclub Private Collection – South Beach

Groundbreaking – Late 2023 | Completion – 2026 

Closing on one of the largest residential construction loans in South Florida, ever, developers Witkoff and Monroe Capital cemented plans for their recently launched Shoreclub’s Private Collection of residences. With a $430 million construction loan in tow, developers can look forward to starting construction on the new condo tower and boutique hotel later this year.

Designed By Robert A.M. Stern Architects (RAMSA), the 18-story, 200-foot-tall oceanfront tower will carry 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.

For its interiors, 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 and a 6,000-square-foot single-family beach house.

Damac Properties’ 57-story Luxury Condo Tower – Surfside

Voting against an ordinance submitted by Damac Properties, Surfside commissioners shot down the developer’s plans to tweak setback requirements that would help accommodate a memorial built on 88th Street. The memorial would stand in honor of the tragic passing of residents of the collapsed Champlain South Tower. Commissioners argued that the setback would lead to the developer maximizing profits in the name of building the memorial.

Dubai-based Damac Properties has proposed building a new, luxury-branded development at the site of the collapsed Champlain Tower South. Designed by the internationally acclaimed Zaha Hadid Architects, the site will be home to two visually appealing towers connected by a 100-foot, glass-bottomed pool at the top.

Damac’s stunning pair of condo buildings will rise 12 stories with “cloud-like” design elements and a “precision-engineered” façade. Carrying a total of 57 luxury residences, buyers can expect to come home to extra-large units ranging from 4,000 to 15,000 square feet in size. Looking to deliver “the most luxurious project ever in Surfside,” Damac is yet to finalize a luxury brand partner for its waterfront residences.

Follow the link for more details on Damac’s global footprint as well as the Zaha Hadid Architects-designed Luxury Condo Tower.

— July 2023 – Miami Condo Pre-Construction Market – Watchlist

Genting’s $1B+ Resorts World Miami Site – Downtown Miami

Although talks of building a SmartCity with Terra fell through this June, Genting continues to attract bidders for its waterfront parcel. Currently, the Malaysian casino giant has received four offers for its 15.5-acre site, where it had previously hoped to build a multibillion-dollar resort. All offers are upwards of $1.2 billion. The Related Group, one of South Florida’s most prominent developers, passed on the deal as Genting expects to receive the whole acquisition price up front rather than in stages. 

Location Venture’s Rishi Kapoor Caught in $25M Lawsuit

As CEO of Location Ventures, Rishi Kapoor, resigned from his post at the real estate development firm this July, the future of many condo developments went up in the air. There are multiple condo, co-living, and coworking projects being developed by Location Ventures and its Urbin affiliate in Miami, including Edition Residences Fort Lauderdale, Urbin Coconut Grove and Urbin Miami Beach.

Here's a quick peek into how this affects Rishi Kapoor, Location Ventures, and their condo projects:

• Rishi Kapoor is entangled in allegations that Location Ventures made multiple payments to Miami Mayor Francis Suarez for a private consulting gig as the company was seeking permits for its condo projects. This is being investigated by Miami-Dade’s ethics commission and the state attorney’s office.
• A trio of investors has sued Kapoor to get back the $25 million they invested in some of Location Ventures’ condo projects.
• In May, Location Ventures’ CFO, Greg Brooks sued the company, seeking unpaid commissions and accusing them of violating the Florida Whistleblower Act.
• SB Architects also filed a lawsuit in June, claiming the firm did not pay up for their design services.
• Construction at Urbin Miami Beach has been suspended due to a lack of building permits.
• The future of Edition Residences Fort Lauderdale remains uncertain as the firm launched sales for the project but has yet to close on the land.
• With the firm embroiled in litigation, Location Ventures’ new boss, Alan Fine (a retired Miami-Dade Circuit Court judge) is looking to avoid bankruptcy proceedings by going ahead with an orderly liquidation of the company and finding buyers willing to pay top dollar for its new construction projects.

Terra Group and Crescent Heights’ New Residential Tower – South Beach

Developers Terra and Crescent Heights are working on a deal with Miami Beach to rebuild a public health clinic in exchange for the right to construct a brand-new residential tower along Alton Road. The new residential tower will rise north of Terra’s Five Park condos and Canopy Park at 710 Alton Road, where the Miami Beach Community Health Center sits.

As per the proposed agreement, the developer duo is willing to build a 13,000-square-foot Community Health Center plus a 7,000-square-foot library at 663 Alton Road. In exchange, the duo has proposed redeveloping the former health center site into a 150-foot residential tower with up to 158 units. They are also willing to deed 6,838 square feet of this site to further expand Canopy Park.

For 710 Alton Road, Arquitectonica is developing an elegant design language that blends seamlessly with its existing landscape and the lush canopy of Canopy Park. Terra and Crescent Heights are leaning towards building a condo project on the site rather than a rental tower. 

Terra Group Bids for Amethyst Condo Site – Mid-Beach

Terra Group has entered the chat at the Amethyst! Where Mast Capital had been working on a bulk buyout for years, David Martin’s Terra Group decided to go bullish on acquiring a majority stake in Miami Beach’s Amethyst condo tower. So far, Mast Capital has managed to close on only 8 units in the building and is in contract for the remaining.

The 11-story, 120-unit Amethyst sits on Mid-Beach’s historic Millionaire’s Row. Affiliates of Terra recently started sending offers to unit owners at the 1964-built tower. In the meanwhile, unit owners have sued Mast Capital for dragging out the condo buyout deal with contract language that left them feeling trapped. With Terra in the picture, it is yet to be seen whether the two firms will work together on acquiring a majority to terminate the condo association and redevelop the property or move forth individually.

Former White House Inn Property Re-sale – North Miami

With rising construction, insurance, and labor costs, developers Related, BH, and Sagi decided to list their 1.1-acre, North Miami development site for sale. Seeking more than $25 million for the parcel located at 2305 Northeast 123rd Street, the developer trio previously planned a luxury condo project for the waterfront site. The partners had purchased the parcel for $11 million about two years ago.

The former White House Inn site stands approved to carry a 10-story luxury condo called Sky Villas at Bay Harbor with 53 units. Boasting 500 linear feet of water frontage, right off the Broad Causeway, the property was supposed to be home to an Arquitectonica-designed luxury condo tower, inclusive of a rooftop pool, spa, baywalk, and other amenities.

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