Miami’s New and Pre-Construction Condo Update: April 2018
May 11, 2018 May 11, 2018
From skyports for flying cars to ground breakings attended by the Mayor, and townhomes being swapped for condos, there was much going on this April in Miami’s condo pre-construction market. Read on for details…
Closings have started for the first tower in the quadruple condo complex in Edgewater. Featuring 53 stories and 325 luxury units, this condo tower gives residents access to two acres of landscaped gardens, tennis courts, multiple pools, an elevated resort deck, a Michael Schwartz-helmed restaurant and bar, private residents’ club, clubroom and much more.
Gale Residences – Fort Lauderdale
With its temporary certificate of occupancy in place, the condo side of Gale Residences is complete and ready to open. Developer Newgard Development Group expects to have the hotel component open by year-end as well. Residents will now have access to the on-site pool, gym, movie theater, club room, valet and electric car-charging stations.
Prices range from $450,000s to $1.4 million, with a choice of one to three bedroom residences
Sales are now open for the waterfront OPUS, flaunting a single residence per floor. This lavish, boutique condo building will come up eight stories and house only seven condos. Designed by award-winning Bermello Ajamil, expect ground breaking to begin this September. The luxurious project will feature a rooftop kitchen, sundeck and pool, along with a gym, private lobby, docks for residents’ boats, bicycle storage and more.
Prices range from $4.4 million to $6.4 million for four-bedroom plus den residences
Mayor Francis Suarez attended the ground breaking ceremony for the only new waterfront, luxury development coming up in Coconut Grove. The Max Strang-designed, tropical residency will house only 26 residences. Amenities include a wellness spa with Turkish bath, rooftop pool with cabanas, floating dock with paddleboards, bayside lounge, outdoor cinema, private dog park, private boat slips, serenity gardens, rainforest path and more.
Prices start at $1.6 million, with a choice of two- to four-bedroom plus den residences
Monroe Residences – Downtown Hollywood
Developers Ricardo Grinberg and Eduardo Jakubowicz are planning to add 40 new condos to Downtown Hollywood. The 5-story project has already received a thumbs up from the Hollywood Planning and Development Board. Once all approvals are in place, the proposed condo building will feature 4 three-bedroom units, 16 two-bedroom units, and 20 one-bedroom units. Amenities would include a rooftop green space, pool, gym, barbecue and picnic arena and 44 access-controlled parking spots.
Eleven on Lenox Turns into Condo Project – South Beach
Masood Shojaee’s Shoma Group has decided to scrap its townhome project in favor of lower-priced condos. The shift in plans cost the group $1.2 million, with a million spent on sales gallery relocation, and the rest on marketing. The new condo project will feature 550 sq. ft. studios, 756 sq. ft. one bedroom units and 1,200 sq. ft. two bedroom residences. 24 of the 43 units will feature porches. With a completion date of late 2019, the project will also include a rooftop barbecue area and dog park.
Prices will average at $750 per sq. ft.
If you want to live like the Jetsons, the developers at Paramount have you covered! Staying ahead of the curve, developer Dan Kodsi has modified the rooftop to incorporate a 5,000 sq. ft. skyport to land vertically descending flying cars (or passenger drones). It will become the first residential skyport upon completion in 2019. Other amenities include access to the country’s first outdoor soccer field in a residential high-rise, a dog park, yoga studio, racquetball court, basketball half-court, food market, jam room with recording studio and sky-high observation deck.
Prices range from $3.5 million to $9.5 million, with a choice of four to five bedroom penthouses and duplexes.
Grab your spot, now, in one of Miami’s tallest condo buildings, as just over 100 residences remain to be sold! Halfway complete, the 64 floor project stands 75% sold. The 549-unit, 736-foot-tall tower will offer residents their own entertainment hub with a wine room, cellar, library, billiard and cigar room. Other amenities include artwork by Schnabel in public spaces, a sky gym and spa, sky pool plus lounge, rooftop garden, ground-level retail, personal concierge and more.
Prices range from $500,000 to $2.5 million, with a choice of one to five bedroom residences
New York-based JDS Development Group managed to secure a $137 million construction loan from Madison Realty Capital for a fully capitalized project. This happens to be the largest financing deal in almost a year in Miami. The 59 waterfront residences represent the first built works in Miami by Pritzker Prize-winning architect Jean Nouvel. Aiming for a Fall 2019 completion, residents will have access to a central lagoon, reflecting pools, climbing gardens, sun deck with pool service, café and juice bar, residents’ lounge, water sports storage and much more.
Prices start at $1.7 million, with a choice of two to five bedroom residences
Developers Terra and Related Group secured a $112.1 million construction loan for their joint venture, One Park Grove. This is the third and final tower in the luxurious Park Grove complex. The condo building will rise 20 stories featuring 71 residences. Amenities at the three-tower complex include a Michael Schwartz-helmed, 3,500 sq. ft. restaurant, signature spa, aromatherapy sauna and steam rooms, a wine tasting room, rooftop pool deck, 5 acres of landscaped gardens and more.
Prices start at $4 million, with a choice of one bedroom plus den to five bedroom residences
Cavache Properties closed on a $17 million construction loan for their boutique condo development. The five story, 24-unit condo building will feature two parking spaces per residence. Other amenities include a two-story Club House with adjoining resort-style pool, gazebos, spa and membership to the Club at Harbor Beach Marriott Resort & Spa.
Prices range between $1.2 million and $1.55 million, with a choice of 2,100 to 3,100 sq. ft. three-bedroom residences
Which of these updates has you excited? Does Paramount’s Skyport sound too futuristic or something you could need? Comment and share your thoughts below!