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
(305) 697-7667
sep@blackbookproperties.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

The Most Luxurious Condo Buildings in Downtown Miami
Real Estate News The Most Luxurious Condo Buildings in Downtown Miami
Downtown is, and continues to evolve as, one of Miami’s top neighborhoods, especially because of its central location to all that Miami has to offer, its views of Biscayne Bay, and its major public transportation hubs. In recent months, developers have been delivering world-class projects with unmatched luxuries in this urban core.  Today, a host of ultra-luxury buildings call Downtown Miami home, and we’ve listed the 5 Most Luxurious Condo Buildings in the neighborhood that set the bar for top-notch living. We’ve also included a few bonus pre-construction condo buildings that will provide even more luxurious lifestyle options for you to choose from if you’re looking to move to Miami or invest in this international city. Last updated on June 23, 2022 Why Choose Downtown Miami? Downtown is home to some of Miami’s best art, culture, shopping, entertainment, and social hotspots. It not only ties for #1 on our 11 Most Walkable Neighborhoods in Miami report, but is also the best...
Video: Agent Faves - Our 3 Favorite Condo Buildings in Sunny Isles Beach, Miami
Video Blog Video: Agent Faves - Our 3 Favorite Condo Buildings in Sunny Isles Beach, Miami
Close enough to all the action in Aventura and Miami Beach, yet far enough removed from touristy chaos, Sunny Isles Beach has turned into a darling for luxury developers in recent years. This upscale seaside community is home to an enviable collection of luxury-branded, high-rise condo towers, such as the Porsche Design Tower, Estates at Acqualina, Mansions at Acqualina, Turnberry Ocean Club, Muse, Jade Signature, and each one more luxurious and beautiful than the next. But we have a few that top our list of favorites. Check out Blackbook Properties’ Condo Specialist and licensed agent Vera Berezhnaya talk about her top 3 favorite luxury condo buildings in Sunny Isles Beach: Residences by Armani/Casa What we love about this building? Every unit in this oceanfront high-rise features a summer kitchen.  Milan couture meets Miami charm in this 66-story ultra-luxury high-rise. Besides affording private beach access, this 649-foot glass tower features 308 designer condos with interiors...
The Top 10 Miami-Area Beachfront Condos in Preconstruction Right Now!
Real Estate News The Top 10 Miami-Area Beachfront Condos in Preconstruction Right Now!
What’s more popular than Miami and South Florida’s sensational beaches these days? It’s our upcoming beachfront properties that are topping wishlists across the globe – luxury created for buyers from New York to New Zealand!  Regardless of whether you’re looking to move to the beachside for dazzling morning-to-night water views, instant access to a yachting lifestyle, or simply for bragging rights – an oceanside home in South Florida tops the wishlist for many - there are several upmarket projects on the horizon that offer you an oceanfront address. With developers eager to stay relevant in Miami and South Florida’s growing condo market, there are plenty of luxury, oceanfront condo preconstruction projects in the pipeline. Here’s our list of the Top 10 Upcoming Luxury Beachfront Condo Projects in Miami and Pompano Beach: Miami and South Florida’s Beachfront Condo Preconstruction projects at a glance: The Perigon - Mid-Beach Bentley Residences - Sunny Isles Beach St. Regis Residences...
Video: Comparing Miami’s Best Neighborhoods - Coconut Grove vs Brickell
Video Blog Video: Comparing Miami’s Best Neighborhoods - Coconut Grove vs Brickell
When most people are thinking about moving to Miami, two super popular neighborhoods are Coconut Grove and Brickell. These two neighborhoods are pretty much neighbors, and only about a 5-10 minute drive separates them. But they are very different and offer completely different lifestyles and vibes. So, how can you know if Brickell - the Manhattan of the South – is right for you? Or will the laid-back and tropical Coconut Grove neighborhood be better? Check out our video comparing these two Miami neighborhoods to help you decide which one could be your next home.  Coconut Grove vs Brickell While both areas provide plenty of variety in housing options, they also offer differing lifestyles and benefits. We’ve provided a comparison of these two popular Miami neighborhoods based on categories we think are important to living a good quality of life – things like lifestyle, parks and green space, shopping, entertainment and culture, walkability and transportation, and cost of living...
42 Pine: Boutique luxury and Kosher-friendly in Miami Beach
Preconstruction 42 Pine: Boutique luxury and Kosher-friendly in Miami Beach
It’s beautiful. It’s boutique. It’s Kosher-friendly. And, it’s in Miami Beach. Developer JP Roosevelt LLC, an entity managed by New York’s Boylmelgreen family, recently launched early sales and secured a $35.5 million loan to start the boutique condo project in the exclusive Pine Tree Drive area of Miami Beach. At only 8 stories, 42 Pine will offer 1 - 3 bedrooms residences, starting at 700 square feet and going to 2,700 square feet. Set for a 2023 completion, early friends and family pricing start at $700,000. Its eight exquisite penthouses start from $4 million.  Designed to offer modern luxury for Jewish residents, 42 Pine will feature gourmet Kosher kitchens, offerings two sinks, two sets of appliances, and separate cabinets for meat and dairy dishes – a true one-of-a-kind condo project in Miami Beach. 42 Pine: A Luxurious Hill Town in Miami Beach  42 Pine will be an 8-story condo community with 50 move-in-ready residences. Designed by Miami’s award-winning Arquitectonica,...
MAJOR Residences: Brickell Supertall to Have Gold Pool, “Major” Dining Concepts
Real Estate News MAJOR Residences: Brickell Supertall to Have Gold Pool, “Major” Dining Concepts
From ruling the restaurant scene to conquering Miami’s residential landscape, launching a supertall condo project is a “MAJOR” leap for Major Food Group - New York’s famous hospitality company behind some of America’s most celebrated restaurants. Major Food Group or MFG, the company behind well-known names in the culinary world such as Carbone, Dirty French, The Flamingo Grill, ZZ’s Club and more, has joined forces with JDS Development to bring the world its first-ever residential venture. Aiming high, the co-developers are already approved to build the 1,049-foot supertall at 888 Brickell Avenue – competing with the 100-story Waldorf Astoria (built to the same height) for the title of the “tallest-ever in Miami”. MFG’s MAJOR Residential Ambitions Major will rise 82 stories with 259 luxury condos. Designed by Studio Sofield in collaboration with ODP, the supertall will feature Gatsby-style energy and exuberance, with a distinctly New York city facade. Starting at the porte...