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
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Video: Take a Walking Tour of Edgewater, Miami
Lifestyle Video: Take a Walking Tour of Edgewater, Miami
Having spent almost 17 years in this mainly residential locale, Blackbook Properties’ luxury condo expert Sep Niakan takes you on his bright and sunny morning walk through this Edgewater, Miami, one of the city’s most popular waterfront neighborhoods.   Filmed in December, with a balmy winter morning temperature of 79° F/ 26° C, this scenic walking tour takes you through Margaret Pace Park and onto the Venetian Causeway. Besides being popular among walkers, joggers, and runners, the bayfront Margaret Pace Park is also a hot favorite among dog lovers, picnickers, and sports enthusiasts. The 8-acre park features two lighted tennis hard courts, two sand volleyball courts, one basketball court, personal fitness equipment, a gated playground, and more. The Venetian Causeway connects the mainland to Miami Beach, and again, makes a scenic seaside escape to clear your mind or simply absorb the sights and sounds of Miami. Watch the video to walk along. If you want see available units...
Miami Condo Development Guide: 52 New Pre-Construction Projects in 2021
Real Estate News Miami Condo Development Guide: 52 New Pre-Construction Projects in 2021
It’s a trend we’ve been talking about since the last quarter of 2020 - waves of buyers are contributing to one of the biggest real estate booms in Miami history. As individuals and businesses escape high tax states like New York and California, and have the freedom to work from any location, luxury condo developers in Miami are announcing new project after new project.   Miami condo developers announced more than xx new and relaunched condo projects last year in 2021. In an attempt to appeal to a wide range of new residents, each new project aims to be taller, more luxurious, and offer the most exciting set of amenities imaginable, and could bring more than 10,000 residential units to Miami over the next few years. With the real estate market in Miami in one of its most lucrative cycles yet, here’s a look at the latest condo projects proposed in Miami in 2021 (till the time of this post): New Miami Condo Development Projects 2021 - Table of Contents New Downtown Miami Condo...
Get to Know Brickell, Miami: Comparing North Brickell vs South Brickell vs Brickell Key
Real Estate News Get to Know Brickell, Miami: Comparing North Brickell vs South Brickell vs Brickell Key
Brickell is one of Miami’s most desirable and popular neighborhoods, known the world over. Starting at the junction of the Miami River and Biscayne Bay, extending from Downtown Miami south along the water to the Rickenbacker Causeway that leads to Key Biscayne, Brickell is now known as the “Manhattan of the South.”  Indeed, Brickell is one of the world’s most important international financial hubs, home to many transnational companies and professionals from around the world. But Brickell is more than just Miami’s Financial District and the largest global banking center in the US south of New York. It’s an ultimate live, work, and play destination, and many celebrities have made their home in Brickell, including such Latin pop icons as Luis Miguel, Jennifer Lopez, and the late José José, as well as salsa legend Marc Anthony. To really get to know Brickell, and also know where you might want to live, Brickell actually consists of subdivisions that exist as distinctly different...
Video: Waldorf Astoria Residences, New Heights of Luxury Comes to Miami
Preconstruction Video: Waldorf Astoria Residences, New Heights of Luxury Comes to Miami
Combining the luxuries of New York City’s oldest hotel brand with Miami's first residential supertall tower, the Waldorf Astoria Residences Miami will transcend and transform luxurious living in Miami – all in the heart of Downtown. Moreover, a joint venture between the developers (PMG) and city will including expanding the green spaces in front of the luxury tower along Biscayne Boulevard, transforming the main boulevard of the Miami.  Waldorf Astoria Residences will be the tallest building south of Manhattan, transcending the skyline here and the heights of Miami luxury as we know it today.  Watch the video for more information.   Waldorf Astoria Residences Miami Key Details Groundbreaking: Early 2022 ​​Completion: 2025 Architecture by: Carlos Ott (conceptual artist) & Sieger Suarez (Miami’s award-winning architects). Designed to look like 9 offset crystal cubes, this sculptural condo-hotel is set to redefine Miami’s skyline. Interiors by: San Francisco’s...
Miami’s New and Pre-Construction Condo Update: December 2021
Real Estate News Miami’s New and Pre-Construction Condo Update: December 2021
Developers have turned bullish in Miami, and not without reason. Considering the booming luxury housing market with heightened buyer demand from the Northeast, California, and other high-tax areas, along with strong international interest as well, developers are on the fast track to bringing condo projects to life. This December, sales for Midtown’s Standard Residences and Smart Brickell’s third tower were launched. Downtown’s Aston Martin Residences topped out, becoming Miami’s tallest-ever condo (at least for the time being, before more supertalls top off). Developers announced a slew of luxury condo projects from Brickell to South Beach. Edgewater’s Aria Reserve and Downtown’s E11even Hotel & Residences filed for construction permits. Also, Melo Group bought an entire block in Downtown Miami, while Little River is ripe for redevelopment. Read on for details on these and more updates in our Miami condo pre-construction market roundup for December 2021:   December 2021 -...
10 Most Exclusive Oceanfront Condos in Miami Beach
Real Estate News 10 Most Exclusive Oceanfront Condos in Miami Beach
For anyone accustomed to or looking to live in Miami or Miami Beach, an oceanfront residence is usually at the top of their list. For many, this type of luxury is complete only when it offers five-star amenities in an outstanding location with utmost privacy. And while there are plenty of Miami Beach condos that give access to breathtaking water views, fine sand beaches, world-class dining and entertainment, there are a handful of exclusive residences that make for the most sought after buildings, including the best designer interiors, expansive floor plans, high-end amenities, and an exclusive lifestyle. This article was last updated on January 4, 2022. Here’s our list of the Ten Most Exclusive Oceanfront Condos in Miami Beach that deliver the crème de la crème of beachfront living: Setai - 2001 Collins Ave, South Beach Average sales price - $2,732/sq. ft.Making a bold and lavish statement are the residences at the Setai condo-hotel. Its 163 ultra-luxury residences are housed...