It’s no secret that Miami’s luxury condo market is red hot and shows no signs of slowing! This April, we saw some of the biggest hospitality brands launch sales of new projects – namely NoMad, Cipriani, and Turnberry. Developers PMG not only proposed to build two new residential towers in Brickell but launched sales of their rental Society Biscayne apartments as condos, and is expected to be move-in ready this summer. Also, District 225 and La Baia were 100% sold out before breaking ground.

Miami developers again went bullish on assemblage sites and bulk condo buyouts this month. We had Two Roads, Related & Rockpoint join hands to buy out the Carlton Terrace condos in Bal Harbour. Two Roads Development decided to go solo in buying out Edgewater’s Biscayne 21. And, Torres Properties bought out the entire Adagio building in North Bay Village. Read on for more details on these and other updates in our Miami condo pre-construction market roundup for April 2022:

April 2022 - Miami Condo Pre-Construction Market at a Glance

Sales Launched

• Nexo Residences – North Miami Beach
• Nomad Residences – Wynwood
• ONE Park Tower by Turnberry at SoLé Mia – North Miami
• Cipriani Residences – Brickell
• Society Residences (Apartment to Condo) – Downtown Miami

Broke Ground

• La Baia – Bay Harbour Islands

Approved

• Flagler Oasis – East Little Havana

Planned/Proposed

• Two 803-unit residential towers by PMG – Brickell

Other Updates

• Casa Azzura – Coconut Grove
• Major – Brickell
• Sophie – Bay Harbor Islands
• Okan Tower – Downtown Miami
• Legacy Hotel & Residences – Downtown Miami
• Diesel Wynwood – Wynwood
• The District / District 225 – Downtown Miami
• Seville-inspired Gables Village – Coral Gables

Watchlist

• Condo project by JMH Development – Mid-Beach
• Biscayne 21 Bulk Buyout – Edgewater
• Carlton Terrace Condo Buy-out – Bal Harbour
• Waterfront Site with Plans for 1,049-Foot, Norman Foster-Designed Tower Sells – Brickell
• 42-story Miami Station Tower Site for Sale – Downtown Miami
• FAA-approved Residential Tower by AIMCO – Edgewater
• Adagio Condominium – North Bay Village
  
  

April 2022 - Miami Condo Pre-Construction Update: Sales Launched

Nexo Residences – North Miami Beach

Groundbreaking – 2022 | Completion – 2025

Bridging the gap between luxurious living and a shortage of short-term rental condos or hotel offerings in North Miami Beach, developers Fortune International & Blue Road launched sales for Nexo Residences this April. Boasting no rental restrictions, it will be the first-of-its-kind in this rapidly growing neighborhood adjacent to Aventura and Sunny Isles Beach, offering owners full rental flexibility and central connectivity to Miami and Fort Lauderdale. Located at 13899 Biscayne Blvd, the luxury condos will replace a 1958-built office building.

Designed by Frankel Benayoun Architects in partnership with the internationally-celebrated Carlos Ott, the 15-story luxury condo tower will rise with 254 fully-furnished residences. Each upscale residence will feature interiors by Urban Robot, smart key access, smart home tech integration, expansive glass balconies, fully-equipped European-style kitchens, imported porcelain flooring, and more. 

Looking to appeal to remote workers as well as vacation seekers, Nexo Residences will feature a host of tech-savvy and resort-style amenities, including a two-story tech hub with café, coworking spaces, a business center, a resort-style pool with sun shelf, two spas, an indoor-outdoor gym and yoga deck with virtual trainer, a summer kitchen with BBQ/lounge area, a rooftop open-air observatory deck, a children’s playground, electric car charging stations, and much more.

Get more details on the ready-to-move-in condos at Nexo Residences, here. 

Prices start in the $400,000s, with a choice of turnkey studios to 3-bedroom residences. 

Nomad Residences – Wynwood

Groundbreaking – Q4 2022 | Completion – 2024

Bringing another New York favorite to Miami, developer Related Group partnered with Manhattan-based Tricap to launch sales for the world’s first Nomad Residences. Backed by Sydell Group, the parent company behind global hospitality icon NoMad Hotels, the 9-story building will be crafted to appeal to digital nomads, in the essence of Wynwood’s eclectic vibe and the brand’s art-infused aesthetic, and feature signature hospitality.

Designed by Arquitectonica, the mid-rise will be home to 329 modern condos. Each turnkey condo will feature avant-garde interiors by Design Agency. Highlight amenities include a rooftop NoMad Bar and restaurant helmed by the James Beard Award-winning Leo Robitschek, a 13,000 square-foot Casa Tua Cucina restaurant on the ground floor, and a NoMad library and lounge with curated events. Other amenities will include a fully-serviced pool deck with private cabanas, an indoor-outdoor fitness center, co-working spaces, an outdoor theater with lawn seating, and museum-quality art from Jorge M. Pérez’s private collection.

Owners will also be allowed to rent short-term via Nomad’s in-house team, which will also provide property management services. Find more details about the short-term rental-ready condos as NoMad Residences, here or watch this video. 

Prices start in the mid-$500,000s, with a choice of fully-furnished 464 to 931-square-foot residences.

ONE Park Tower by Turnberry at SoLé Mia – North Miami

Groundbreaking – Tail-end 2022 | Completion – NA

Bringing the 184-acre, master-planned community of SoLé Mia its first condo building, developers Turnberry Development and Carlos Rosso launched sales for One Park Tower. Designed by the award-winning architecture firm Arquitectonica, the luxury condo tower will rise 32 stories with 303 bespoke residences overlooking the community’s Crystal Lagoon. Currently under construction, the 7-acre Crystal Lagoon is set to stand as the centerpiece of SoLé Mia - a swimmable, crystal-clear lagoon the size of 21 Olympic-sized pools.

With interiors by New York-based Meyer Davis Studio, all residences at One Park Tower will feature high ceilings, oversized private wrap-around terraces, porcelain floors, oversized master bedrooms, spacious walk-in closets, master bathrooms with soaking tubs, and much more.

Future residents can look forward to enjoying private access to the lagoon-front beach next door, complete with a Turnberry beach concierge, umbrellas, and beach chairs. Aimed at young professionals and growing families, other amenities at the gated One Park Tower will include a private swimming pool, pickleball courts, a state-of-the-art wellness center with spa and massage facilities, a climate-controlled wine room, dedicated children’s playroom, a library, private event rooms, co-working facilities, and electric car charging stations.

Prices start in the low $500,000s, with a choice of one- to three-bedroom residences.

Cipriani Residences – Brickell

Groundbreaking – Late 2022 | Completion – Late 2025

Hosting a launch party at Cipriani Restaurant, developers Mast Capital and the Cipriani brothers officially celebrated unveiling of the Cipriani Residences. Located at 1420 S. Miami Avenue in South Brickell, the luxurious Cipriani Residences will be part of a 3-tower project. The other two towers, developed in association with Boston-based Rockpoint Group, will house 850 rental apartments and rise to a height of 59 and 50 stories each.

Submitted to the Federal Aviation Administration (FAA) for a height approval of 940 feet above ground, the 80-story Cipriani Residences Miami are designed by Arquitectonica. Built to evoke the spirit of the Italian hospitality brand, the tower will be home to 397 ultra-luxury residences. All condo residences will feature expansive terraces, custom Italian kitchen cabinetry, Wolf/Sub-Zero appliances, an intelligent interface with access to building services, and much more.

Amenities at the Cipriani Residences are planned to deliver the legacy brand’s world-class services and distinguished style in Miami’s financial district. Future residents will gain access to a two-pool deck with cabanas and food service, a sun terrace, a spa, fitness center, pickleball court, golf simulator, screening room, library, children’s playroom, round-the-clock Cipriani dining services including a Cipriani bar and private dining rooms, salon, 10,000 square feet of retail, a dog park, and much more.

Find more details on the Cipriani Residences, here.

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

Society Residences (Apartment to Condo) – Downtown Miami

Accepting non-binding reservations, developer PMG is looking to convert its nearly-complete rental tower into a luxury condo product. The 49-story Society Biscayne tower, due for a Summer 2022 opening, is rising with 646 luxury residences. The short-term-rental-approved tower will offer studios to three-bedroom residences. Each luxury residence will feature porcelain wood-grain tile flooring throughout, smart keyless entry systems, smart home tech, custom kitchen cabinetry by Italkraft, stainless-steel appliances by Frigidaire, frameless glass-enclosed showers, and more.

The tower will also be renamed Society Residences to complete the conversion process. Amenities are to include a lobby-level cocktail bar and restaurant by Jaguar Sun, curated art and green walls throughout its common spaces, a 132-foot resort-style pool with private lounge areas, a 16-foot poolside screening LED wall, a sky entertainment lounge, a two-level coworking lab, a two-level gym, access to a custom Society Residences app, electric vehicle charging stations, and more.
 

April 2022 - Miami Condo Pre-Construction Update: Broke Ground

La Baia – Bay Harbour Islands

Groundbreaking – April 2022 | Completion – November 2023

The highly anticipated and fully sold-out La Baia residences broke ground this April. Developed by Ian Bruce Eichner - the developer behind the famous Continuum condos in South Beach - sales for the luxury boutique condo projects launched last October in 2021.

Designed by Revuelta Architecture, La Baia will be an 8-story, boutique bayfront development housing only 68 luxury residences. Rising with a light, airy aesthetic, the surreal waterfront condo mid-rise will feature its own private, 20-boat marina. All fully finished residences will feature interiors by New York’s Durukan Design with 10-foot-high ceilings, custom Italian cabinetry by Snaidero, Miele appliances, Hansgrohe fixtures, wide-plank European wood flooring, large walk-in closets, and private balconies with glass railings.

Affording future residents over 30,000 square feet of resort-style amenities, La Baia will feature a rooftop pool with sundeck, heated soaking spa and kids’ interactive splash pad, an outdoor bar, a residents’ club room, a ground-floor wood deck terrace with hammock coves, a meditation lawn, a pet grooming center, and more.

Prices start at $810,000, with a choice of one- to four-bedroom residences.

April 2022 - Miami Condo Pre-Construction Update: Approved

Flagler Oasis – East Little Havana

Miami’s Urban Development Review Board approved developer Gamla Cedron’s proposal to build the Flagler Oasis project this April. Designed by Behar Font, the project will be rolled out in three phases. The first phase with 100 residential units is already under construction. Tower two will feature 248 residential units, while the third will be an office tower.

Located at 1150 NW 1st St, Flagler Oasis will rise with a total of 348 residential units, 73,828 square feet of office space, 19,950 square feet of retail space, and 573 on-site parking spaces in multiple garages.
 

April 2022 - Miami Condo Pre-Construction Update: Planned/Proposed

Two, 803-unit residential towers by PMG – Brickell

Replacing a 3-story office building and a 4-story apartment complex in Brickell, developer PMG plans to build a two-tower residential tower at 120 SW 8th Street. Perched on 1.5 acres of land, the dual-tower project would lie a block north of the Brickell Metrorail Station and within walking distance to the Brickell City Centre. The developer has filed a pre-application with Miami-Dade planners for zoning approvals.

Designed by Miami’s award-winning Sieger Suarez Architects, the two towers will be connected by a parking podium. The north tower is planned to rise 46 stories (550 feet), while the south tower is expected to rise 31 stories (380 feet). The two towers will offer a total of 803 residential units along with 15,791 square feet of commercial space and 832 parking spaces. With an average unit size of 841 square feet, the building will also carry pool decks on the 13th, 31st, and 39th floors plus a sky bridge on the 31st floor for residents to crossover and share amenities.
 

April 2022 - Miami Condo Pre-Construction Update: Other News

Major – Brickell

Submitted to the Federal Aviation Administration (FAA) for a height approval at 1,049 feet above sea level (the highest height allowed), developer JDS is moving ahead with its plans for Major condos. Designed by Studio Sofield in collaboration with ODP, the supertall planned for 888 Brickell Avenue will rise 82 stories with a total of 259 residences.

Backed by the famous Major Food Group, the condo tower will include restaurant space on at least four or five floors, claiming to offer “the most impressive collection of food and beverage amenities of any building in Miami, if not the United States.” Besides housing 50,490 square feet of commercial/food and beverage spaces, the condo tower will also feature three floors dedicated to sports and wellness – inclusive of a spa with mineral pool and champagne pool, a paddle court, a boxing area, an F1 simulator, plus a golf simulator. Other amenities will include a 35th-floor pool and party room, wine storage, a cigar room, event spaces, plus 250 parking spots. 

Sophie – Bay Harbor Islands

Groundbreaking – NA | Completion – Summer 2023

After years of stalled construction, Allure Development is ready to revive its 7-story boutique condo project in Bay Harbor Islands. In the process of obtaining a building permit and paying for code violations, the developer will be set to continue construction of its 26-unit condo project with updated plans and additional funding.

Designed by Frankel Benayoun Architects, Sophie will feature only 4 to 6 residences per floor. The mid-rise will offer a mix of one- to three-bedroom residences. Amenities will include flowing water features, beach club access, a rooftop pool deck, picnic space, and valet parking.

Prices range between $735,000 and $2.2 million, with a choice of one- to four-bedroom plus den residences.

Okan Tower – Downtown Miami

Groundbreaking – June 2022 | Completion – 2026

Reactivating phased foundation permits and closing $39 million in sales in just 30 days (March-April), developer Okan Group is on the fast track to breaking ground, as scheduled, in June 2022. Designed by Behar Font Architects, the Tulip-like tower will rise 70 stories with 163 residential condos, 236 condo-hotel residences, and a 316-room 5-star Hilton Hotel & Resort. The tower is planned to carry the hotel rooms on its lower levels, condo-hotel units starting at the 36th floor, and sky condos above the 51st floor – all with a separate elevator for each type of residence.

Residents of the “sky” condos will have exclusive access to the 70th-floor rooftop pool and sky deck, a 12th-floor lap pool with indoor-outdoor lounges and clubroom, a fitness center with yoga studio and Peloton bikes, a dedicated wellness spa, a theater room, an owner’s lounge, wine cellar, and a fully-equipped children’s sensory and playroom.

The condo-hotel owners will have separate access to amenities on floors 27, 28 & 30 – inclusive of an outdoor pool with indoor-outdoor lounges and private cabanas, a signature wellness spa featuring Turkish treatments and a marble Hamman, a high-tech fitness center, over 4,500 square feet of ballroom space, a chef-grade gastro-kitchen plus grab-and-go-café, multiple bars, and conference and meeting rooms. 

Owners of both the condo-hotel and sky residences will be privy to a wide range of premier services managed by Hilton Hotels & Residences, inclusive of in-room private dining, in-room spa treatments, professional housekeeping services, on-site laundry and dry-cleaning services, personal fitness specialists, and lifestyle concierge.

Prices start at about $400,000 for condo-hotel residences and at $587,000 for the sky (condo) residences.

Legacy Hotel & Residences – Downtown Miami

Groundbreaking – August 2021 | Completion – 2024

All prepped for an end-of-May foundation pour, this 100% sold-out condo-hotel by developer Royal Palm Companies is on track for a 2024 completion. Designed by Kobi Karp, the neo-futuristic tower will rise 50 stories with 310 luxury residences emulating trademarked microLUXE living. The tower will also be the first to feature an Accor (Morgans Original hotel), a pandemic-ready 10-story wellness retreat with the world’s first Blue Zones, and Downtown’s largest (1-acre) hotel pool deck.

Office spaces at Legacy will sit above the pool deck, followed by hotel and condos. The Legacy tower will also feature a business lounge, ballroom space, restaurant, retail, and giant wellness center at its base. Its 9th-floor pool deck will include an indoor lounge/breakfast area outlined by villas.

Other key amenities at the ultra-luxury Legacy will include a Singapore-inspired pool hanging 500 feet in the sky, America’s largest rooftop glass atrium with 7 stories of palm trees, a members-only international business lounge, signature international restaurant, grand ballroom, shul with kosher kitchen, multiple water features, plus a wide range of wellness facilities ranging from cryotherapy chambers to IV nutrition therapy, sports medicine, and supporting physical therapy. 

Diesel Wynwood – Wynwood

Groundbreaking – Summer 2022 | Completion – Q3 2024

After launching sales in November, the world’s first Diesel-branded condos are closer to materializing, as developer Bel Invest closed a utilities deal for 159 residences and 17,415 square feet of retail this May. Designed by Zyscovich Architects, the 8-story Diesel Wynwood will rise as a LEED-certified building offering a range of WELL-certified amenities. These wellness facilities will ensure pure air and customizable, smart-sensing climate control solutions for every home in the mid-rise.

In line with the denim brand’s eclectic image, the condo building will feature playful design elements such as steel pillars and neon structural beams. Each loft-style unit at Diesel Wynwood will be crafted to feature extra-high concrete ceilings, optional modular walls, luxe European brand finishes, rugged materials, and edgy textural treatments. Select turnkey units will further come complete with furnishings by Diesel Living – the denim brand’s home décor line.

Diesel Wynwood will also feature a fantastic mix of statement amenities, including a two-story lobby with steel mesh walls and unusual geometries, a rooftop pool deck doubling up as an energetic social gathering space, a residents’ lounge featuring custom Diesel Living furnishings, a European-inspired spa, a TechnoGym hooked up to a wellness app, a space-inspired Sensory Room, a wine cellar with a selection of spirits, and a dedicated Art Studio for artists and sculptors of every caliber.

Read more about Diesel Wynwood’s lifestyle, location, and more features here 

Prices range from $320,000 to $4.8 million, with a choice of micro-studio to 3-bedroom residences, ranging from 395 to 4,411 square feet in size.

The District / District 225 – Downtown Miami

Groundbreaking – Q3 2022 | Completion – 2024

100% sold out and set for a third-quarter groundbreaking, developers Related Group, ROVR Development, and BH Group are moving ahead with this experimental tower. This first-of-its-kind tower is not only approved for short-term rentals but will also allow owners to list their units directly on Airbnb.

Designed by Sieger Suarez, the 37-story tower will rise with 347 luxury condos and no car parking. All residences will be delivered fully finished and furnished by Meshberg Design with smart home tech. Amenities will include an expansive resort-style rooftop pool deck with plunge swim-spa and a fire pit, multi-purpose lounges, basketball and racquetball courts, an on-site café, co-working spaces, museum-quality art, electric bike parking with charging stations, and access to the custom-developed ‘District’ app for smart-home management on the go. 

Prices start at $352,900 for studios, $385,900 for 1-bedroom residences, and $574,000 for 2-bedroom residences. 

Seville-inspired Gables Village – Coral Gables

Groundbreaking – 2022 | Completion – 2024

Sealing the deal for its $50 million project, MG Developer completed the purchase of a 2.6-acre assembly to begin construction on Gables Village. To be built as a tribute to George Merrick’s legacy, the village will comprise of duplexes, townhouses, and condos set through 17 lots at 535 Santander Avenue. The Seville-inspired village will also feature tree-lined streets, plazas, fountains, and parks.

Designed by De La Guardia Victoria Architects & Urbanists, Gables Village will be built in the Mediterranean Revival style of architecture, with the tallest building topping off at four stories. The $50 million village will be bordered by gardens inspired by the alcoves in the Plaza de España. With residences built for modern-day comforts, each 1,750 to 3,100 square-foot unit will come elegantly appointed with luxurious touches. Amenities at this lavish project will also include a pool, a wellness center, and a multipurpose room.

April 2022 - Miami Condo Pre-Construction Update: Watchlist

Condo project by JMH Development – Mid-Beach

After being stalled for 5 long years due to litigation, Jason Halpern’s JMH Development can finally move forward with its condo plans for 2901 and 2911 Indian Creek Drive. The 17,150-square-foot property was originally planned to hold a 7-story building with 22 condo units and a rooftop pool. In the months ahead, we will be keeping an eye on whether the New York-based developer sticks to its original plans or revives the project with new details.

Biscayne 21 Bulk Buyout – Edgewater

With plans to build a 3-tower luxury condo complex, Two Roads Development is in the process of buying out Biscayne 21. The developer expects to close the bulk buyout deal within the month of May with an average price of $1 million per unit. The bayfront mid-rise was built in the 1960s on a peninsular in Edgewater. The 11-story vintage building is currently home to 191 condos.

Opposite Margaret Pace Park, at 2121 North Bayshore Drive developer Two Roads plans to build a very high-end luxury product on the 3.4-acre waterfront site – likely powered by a well-known brand. The new three-tower complex is expected to hold about 680 to 750 residential units in 60-story skyscrapers. The gated mid-rise currently features a lap pool, tennis courts, BBQ facilities, a penthouse recreation room, and two exposures with unobstructed water views.

Carlton Terrace Condo Buy-out – Bal Harbour

Miami’s Related Group has joined forces with West Palm Beach-based Two Roads Development and Boston-based Rockpoint to buy out the 88-unit Carlton Terrace. 81 units of the 15-story building have already been purchased for a combined cost of $114.74 million. We’ll be keeping a close watch as developers are yet to reveal redevelopment plans for the oceanfront property.

Waterfront Site with Plans for 1,049-Foot, Norman Foster-Designed Tower Sells – Brickell

Developer Florida East Coast Realty sold its 2.5-acre waterfront development site for a record $363 million. Purchased in 2000 for $15.5 million, the 2.5-acre Brickell site registered a 2,242% appreciation. The transaction aced the previous record set by the $236 million sale of the Miami Herald site in Downtown Miami (now owned by Genting Group for the Miami World Resorts project). 

An entity managed by Chicago-based Randall Davis is the buyer of the Brickell site. The waterfront site at 1201 Brickell Bay Drive was intended to feature a 660-unit, 1,049-foot supertall condo tower designed by the Pritzker Prize-winning architect Norman Foster of Foster + Partners. We’ll be keeping a watch on whether the Chicago-based firm decides to move forward with the original plans or reveals a new design for one of the last waterfront sites in Brickell. 

42-story Miami Station Tower Site for Sale – Downtown Miami

The 1-acre, shovel-ready site adjacent to the Brightline Station is up for sale. Located at 533 NW 2nd Ave, the site was scheduled to hold the 42-story Miami Station rental tower. The 1-acre parcel is approved to rise 539 feet above ground with 301 multifamily rental units, 247,322 square feet of office space, 5,951 square feet of ground-floor retail, and 6 floors of parking. We’re keeping this prime spot under our watchlist as several developers have chosen to convert their rental buildings into condos, given the insatiable demand for luxury housing in Miami.

FAA-approved Residential Tower by AIMCO – Edgewater

Approved by the Federal Aviation Administration, developer Hamilton on the Bay II, LLC will now be able to build a 645-foot residential tower at 640 Northeast 34 Street in Edgewater. The developer, with a Denver address, is said to be an affiliate of Aimco.

The developer is also pushing for approval of a second tower next door, set to rise 497 feet above ground. This would help the developer go through with its plans to build a two-tower residential complex at the waterfront site. The developer also needs approvals to create a public plaza on the site by closing off 34th Street. The project makes our watchlist as several developers have opted to build luxury condo offerings in Miami, given the highly lucrative market for such housing product.

Adagio Condominium – North Bay Village

The entire Adagio condo building was sold to the founders of Torres Properties from Vancouver, Washington for $17 million. The sale equated to a price of $1.13 million per unit. For now, the waterfront condo building will continue to operate as a short-term rental, as it is under a 5-year lease with Sextant Stays. The 15-unit building features a pool, fitness center, and sauna. The deal makes it to our watchlist since developers have been aggressively buying out condo buildings, especially waterfront, to make room for newer, more luxurious condo offerings, and the Adagio checks all the boxes for redevelopment.

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