Miami’s New and Pre-Construction Condo Update: April 2020

Miami’s New and Pre-Construction Condo Update: April 2020

May 06, 2020 May 06, 2020

With construction in Miami considered an essential business as part of the COVID-19 shut-downs, Miami’s pre-construction condo market continued with announcements, planned new development and building completions. South Beach’s Raleigh Hotel is ready for a facelift along with the addition of a brand-new tower of condos. Sunny Isles’ Ritz Carlton Condo Residences celebrated their completion and loan pay-off. And, one Coral Gables condo developer has a limited time offer for buyers.

Read on for details on these new buildings in Miami and more updates in our condo pre-construction roundup for the month. View and search our list of available Miami pre-construction condo units and penthouses, which is updated daily.


Now Open - Miami Pre-Construction Condos


Ritz-Carlton Residences - Miami Beach 

Ritz-Carlton Residences - Miami Beach


At about 75% sold, developers Lionheart Capital celebrated the grand opening of the ultra-luxury oceanfront development of The Ritz-Carlton Residences, Miami Beach, including 111 condo units and 15 stand-alone villas designed by Piero Lissoni. Given the social distancing requirements of the COVID-19 pandemic, the sales team is offering virtual tours via Facetime. 

Amenities at the boutique development include a 36-slip private marina, a fitness center with an open-air yoga studio, a rooftop pool deck with private cabanas, a restaurant, an indoor-outdoor spa with a sauna, a meditation garden, a waterfront bar, a club and social room, a children’s room, an art studio, a cinema room, and pet grooming facilities. Works of art are displayed throughout the property, and buyers also receive medical concierge service with Dr. Arthur Agatston, the creator of the South Beach Diet.


Loan Completion - 
Miami Pre-Construction Condos


Ritz-Carlton ResidencesSunny Isles Beach

Ritz-Carlton Residences – Sunny Isles Beach


A second Ritz-Carlton Residences property also is making progress. Developers Fortune International and Chateau Group have paid off their $212 million construction loan just weeks after opening. For closings and showings, the sales team complied with social distancing norms by conducting virtual tours and proceedings.

Managed by The Ritz-Carlton Group, and designed by Arquitectonic with interiors by Florentine architect Michele Bönan, the building received its TCO in February. At that time, all of the penthouse units were sold out. The 52-story tower sits along 250-feet of pristine beach, and features amenities such as a 33rd-floor private club level with guest suites, beachfront restaurant, full-service spa, pool deck, fitness and wellness center, kids’ club, plus hotel-level butler, turndown and concierge services. 

Prices start at $2.6 million, with full-floor penthouses priced at $40 million 

Planned - Miami Pre-Construction Condos


Raleigh Hotel Restoration plus 18-story Condo Tower - South Beach

Raleigh Hotel Restoration plus 18-story Condo Tower - South Beach

Photo courtesy of SHVO


Owner of the Raleigh Hotel plus its adjacent Richmond and South Seas Hotels has filed
plans with Miami Beach’s Historic Preservation Board to upgrade to the favorite historic luxury hotel, pool and gardens, and add a new residential component. The masterplan has been submitted to develop an oceanfront, 200-feet tall, 18-story condo building on the adjacent properties.

Additionally, initial plans reveal that the hotels will retain their iconic façade, designed by famous Art Deco architect L. Murray Dixon in 1941, the Raleigh gardens, and other notable interior space while offering a unified frontage with the addition of a pool towards the rear of the building and new beach pavilion with an open-air restaurant.


Buyer Incentives - 
Miami Pre-Construction Condos


Villa ValenciaCoral Gables

Villa Valencia - Coral Gables


For those hesitant to part with their cash during the pandemic, developer Location Ventures launched an
attractive new financing program for the next five buyers this April of their Coral Gables condo project, Villa Valencia. Buyers can receive a zero-interest loan from the developer to finance a 50% deposit on condos in the boutique building. It is likely that buyers will be required to keep their primary homes as collateral and pay back the loan 90 days after closing, however, concrete details are yet to be shared.

With an expected delivery date of August 2021, the 39-unit luxury development will feature 19,000 sq. ft. of amenities besides a lobby lounge and garden. Highlighted amenities include pool deck with summer kitchens, entertainment areas, library, and dog park. 

Prices range between $1.65 million to $14.9 million, with a choice of three- to six-bedroom residences


COVID-19 Violation, Loan Secured


57 OceanMid-Beach

57 Ocean – Mid-Beach


With the 18-story building starting its vertical ascent only this January, construction was halted for 14 days. The City of Miami Beach issued a ‘stop work’ order to developer Multiplan Real Estate Management citing “failure to comply with the CDC safety regulations during the COVID-19 emergency period.” Authorities claimed that the construction site did not keep proper employee health logs, failing to comply with CDC safety regulations issued to restrict the spread of COVID-19. While the order put a two-week pause on construction, it remains to be seen what’s decided at the end of the prescribed period.

The building is more than 50% sold and also is half-way through its construction, with a planned completion of Fall 2021. Developer Multiplan also received a $58.5 million construction loan from Bank OZK. The company said it has sold 11 units in the last 45 days, with more than $46 million under contract. Once construction is completed, buyers can look forward to amenities such as a private resort spa, two beachfront infinity-edge swimming pools, outdoor bar and lounge, indoor Technogym, outdoor MyEquilibria gym, club room with chef’s kitchen and summer kitchen, poolside and beachfront concessions services and more, in addition to 81 luxury condos coming up on the site.

Prices range from $6.95 million to $8.5 million, with a choice of two- to four-bedroom residences. Penthouses range between $15 million and $35 million



Find a Miami pre-construction condo you'd like more information on? Call an expert today at (786) 930 4220.

Looking for more relief like the zero-interest down-payment loan above? Find a complete list of financial and real estate resources available during the coronavirus crisis here.

Contact Us
Sep Niakan
Broker / Team Lead
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Video: Inside Tour of The Residences at Mandarin Oriental Miami
Video Blog Video: Inside Tour of The Residences at Mandarin Oriental Miami
Eager to bring you an exclusive preview of the interiors, finishes, and other unique offerings available at The Residences at Mandarin Oriental Miami, we gathered our crew and headed straight to their newly opened sales gallery perched onsite surrounded by Biscayne Bay where the new residential tower will rise. Join us for an insider look at all the spoils and luxuries that await you in Brickell Key’s finest, most exclusive, and thoughtfully designed residences yet. In this video, Sep Niakan, veteran Miami real estate agent and Founding Broker of Blackbook Properties & condoblackbook.com, sits down with Adrian Gonzalez of the Mandarin Oriental Miami Residences for a quick chat and in-depth tour and review of the interiors, finishes and fixtures. Watch now to discover what sets this island sanctuary apart and why it deserves to be your prized residence.   — Sky Homes at The Residences at Mandarin Oriental With no more than five residences per floor and two-bedroom floor plans...
Brickell vs South Beach: Which Miami Neighborhood is Best for Luxury Living?
Lifestyle Brickell vs South Beach: Which Miami Neighborhood is Best for Luxury Living?
One is known for its legendary beaches and nightlife, the other for being the Manhattan of the South. But what’s it like to live these two famous Miami neighborhoods? Should you live in Brickell or South Beach? If you’re considering a move to Miami or the South Florida area, and want to know more about the basic differences between living in Brickell vs South Beach (SoBe), here’s our exclusive Insider review of these two iconic Miami neighborhoods to help you decide. — Lifestyle Differences Between South Beach and Brickell South Pointe - South Beach Of course, there is going to be some differences between these two neighborhoods, despite being less about 6 miles away from each other. The Brickell lifestyle is definitely more urban and corporate-chic compared to the laid-back beachy lifestyle of South Beach. Living in Brickell, like any metropolitan and financial district in a big U.S. city, you’ll see your fair share of Miami’s best-dressed professionals darting back and forth...
Q3 2024 Miami Luxury Condo Market Summary: Sales Down, Prices Up in Buyer’s Market
Real Estate News Q3 2024 Miami Luxury Condo Market Summary: Sales Down, Prices Up in Buyer’s Market
What’s Miami’s luxury real estate market been up to? Well, with an expected slowdown after a high-paced second quarter, Miami’s luxury housing market downshifted into a softer cycle in Q3 2024.  While there was a decline in sales volume, prices increased and the average number of days on the market remained consistent year-over-year. This indicates that Miami's luxury condo market remained steady even as it has transitioned into a buyer's market with moderate surplus of luxury inventory. But another trend has emerged, and that is the Miami market has established a new definition of luxury.   This third quarter, the combined neighborhood of Coconut Grove & Coral Gables, continued outperforming all other neighborhoods in our quarterly analysis by reporting the highest percentage sales growth, fastest time to sell/lowest days on market, and lowest levels of inventory.  As we head into the 4th quarter, which is historically known to be the slowest of the year, and with the...
Video Blog: Top 5 Luxury Condos in South of Fifth, Miami Beach
Real Estate News Video Blog: Top 5 Luxury Condos in South of Fifth, Miami Beach
Miami Beach attracts residents with its vibrant energy and stunning beaches, Art Deco architecture, and nightlife, but for those seeking an exclusive haven of luxury and tranquility, South of Fifth (SoFi) is the neighborhood to be in. This coveted area, nestled at the southern tip of Miami Beach, boasts pristine beaches, upscale dining, a beautiful park, and a collection of the most prestigious condo residences in the city. In our latest video, Sep Niakan, founding broker of Blackbook Properties & condoblackbook.com and veteran Miami real estate agent, gives you a rundown of the five most luxurious (and expensive) South of Fifth condos for your consideration. Take a look!   If one (or more!) of the buildings in the video has caught your eye, don’t hesitate to reach us by phone, email, or text and we’ll be happy to help you explore available residential options.  For a more detailed look, these are the most luxurious South of Fifth condos that make up our list: 5. ICON...
Video: Viceroy Residences Miami, Your Luxury Oasis in Brickell
Video Blog Video: Viceroy Residences Miami, Your Luxury Oasis in Brickell
Dive into a world of luxury at Viceroy Residences Miami, a new condo development redefining sophisticated living in the heart of Brickell. More than a high-rise, Viceroy offers a haven of tranquility and exclusivity, with a resort-style experience in the middle of the vibrant energy of Miami's financial district. In our latest video, Sep Niakan, veteran Miami real estate agent and Founding Broker of Blackbook Properties & condoblackbook.com, sits down with Valeria Lugo, VP of Sales for Viceroy Brickell to get an inside scoop on all the details that make this project one of the most anticipated in the city. Take a look! The new Viceroy Brickell will rise 45 stories and have 442 fully finished residences, including studios, one-, and two-bedroom units, with the penthouse collection featuring three bedrooms. Units will range from 485 square feet to 1,286 square feet, excluding penthouses. Also, the building will be part of a three-tower luxury complex which includes the opulent...
September 2024: Miami New Development and Pre-Construction Condo Update
Preconstruction September 2024: Miami New Development and Pre-Construction Condo Update
A total of six Miami pre-construction projects broke ground this September, of which three are located in Miami’s coveted Bay Harbor Islands – Solina Bay Harbor, the Bay Harbor Towers, and La Maré Signature Collection. After almost a year of inactivity, Abbhi Capital’s condo-hotel planned for Downtown Miami pushed for new permits. Midtown Development proposed a massive redevelopment of Coral Gables’ popular Sunset Place. And, three new condo projects secured key approvals. This month, we also had Midtown’s Standard Residences and Grove Isle’s Vita Residences top off ahead of their 2025 completion. Read on to find out which other condo projects broke ground this month, along with details on other updates, in our monthly Miami condo pre-construction news roundup for September 2024: September 2024 – Miami Condo Pre-Construction Market at a Glance Broke Ground Rivage – Bal Harbour West Eleventh Residences – Downtown Miami Residences at Six Fisher Island – Fisher Island Solina...