Miami’s New and Pre-Construction Condo Update: August 2018

Miami’s New and Pre-Construction Condo Update: August 2018

Sep 19, 2018 September 19, 2018

Cover photo by: Edin Chavez © All Rights Reserved

The iconic Armani/Casa and Paramount Miami Worldcenter topped off this August. Miami’s Riverside could gain two new 50-60 story towers. Alton Road is set to gain a taller, 44-story condo building, but will it wall-in West Avenue? Read on for details on these and more condo pre-construction updates below:

Closings Underway

One Paraiso Edgewater

One Paraiso - Edgewater, Miami FL

After nailing its completion milestone last month, One Paraiso started with closings in August. The 276-luxury-condo tower is the third to begin closings in the Paraiso complex. Once settled in, residents will have access to its Michael Schwartz-helmed eatery, three pools, outdoor patio and marina, beach club, two-story gym and spa with juice bar, among other amenities.

Prices range between $600 per sq. ft. and $700 per sq. ft., with a choice of one- to three-bedroom units and penthouses

Complete

The Harbour North Miami Beach

The Harbour - North Miami Beach

The nearly complete Harbour features 330 luxury condos spread across two 25-story towers. The waterfront twin-towers aim to begin closings later this year. High-end amenities include an indoor-outdoor lobby with pool and Bay views, private marina with boat slips, full-service private beach club, private aqua club with variety of water sports, aromatherapy trail, outdoor Vita course, indoor-outdoor spa, dog park, waterfront restaurant and more.

Prices for remaining units range from $552,000 to $1.2 million, with a choice of 1,032 sq. ft. to 2,442 sq. ft. residences

Top Off

Residences by Armani/Casa Sunny Isles Beach

Residences by Armani/Casa - Sunny Isles Beach

The eagerly awaited Armani/Casa has topped off at a final height of 649 feet. This 56-story ultra-luxury tower is moving full steam ahead for a 2019 opening. Delivering 308 high-end residences, amenities at this iconic tower include a museum-quality art collection, theater, Armani Privé lounge, double story indoor-outdoor spa, children’s playroom, ocean-view restaurant and bar, pool with food and beverage service and much more.

Prices range between $2 million to $17 million, with a choice of two- to four-bedroom residences

Paramount Miami Worldcenter Downtown

Paramount Miami Worldcenter - Downtown

The 60-story signature tower at the Miami Worldcenter topped off this August. The construction milestone was celebrated with a salute to the workers and streaming of flags from over 50 countries (representing their diverse buyer repertoire). Part of a mega mixed-use development, the high-end condo tower comes with its own soccer field, a rooftop skyport to land flying cars, 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

Gone vertical

The Wave on Bayshore Fort Lauderdale Beach

The Wave on Bayshore - Fort Lauderdale

Beginning its vertical climb this August, developer Oak Tree Management is aiming for a year-end top off. This boutique condo project should be ready to move in next year. While floors 2-9 will have two units with 180-degree exposures each, floors 10-11 will feature only single units with 360-degree views. Residents can look forward to a heated pool, sundeck, picnic area, private club room and fenced dog park in this 11-story, 18-condo boutique building.

Prices range from $895,000 to $2.6 million, with a choice of two- to three-bedroom residences

Approved

44-story condo tower – South Beach

44-story condo tower - South Beach

Previously, the South Shore Hospital Site was to gain a multi-building low-rise development, but developer Crescent Heights scrapped plans for a new deal. After intense negotiations, the Miami Beach City Commission’s Finance Committee agreed on letting a single, taller, narrower structure come up instead. The vacant site at 500 Alton Road will now house a 44-story tower and 3.2 acres of a city-owned park. The narrower structure is designed to avoid walling-off West Avenue and optimize adjacent views.

Planned

Two 50 to 60 story condo towers – Miami River

Miami River - Miami, FL

Voting will take place this November to replace the Riverside Center administrative building with four new towers. If residents approve, the plot will gain two new 50-60 story condo towers, a 30-story rental tower and a replacement administrative building. One of the condo towers would be luxury and the other mid-range.

Other Updates

YotelPad Downtown

YotelPad - Downtown, Miami FL

Plans for the first Yotel-branded residential project on the East Coast have been submitted to FAA for approval. Developers Aqarat and Aria Development Group seek permission for a 30-story tower rising 341-351 feet above ground. Once approved, the 208-condo, 250-key YotelPad will come with a fully loaded sky lounge with game zone, a coffee bar, co-working space, pool deck, pet spa, bike storage and more. Unit owners will also have the choice to participate in the condo-hotel’s short-term rental program or rent out to the likes of Airbnb without restrictions.

Prices begin at $250,000, with a choice of 425 sq. ft. studios to 700 sq. ft. two-bedroom residences

Elysee Miami Edgewater

Elysee - Edgewater

Just two months after beginning vertical ascent, Two Roads Development nabbed a $138 million loan. This makes it the largest condo construction loan of the year, so far. Aiming for a 2020 opening, the 57-story glassy tower comes with 100 half-floor condos, a 7th floor amenity deck with pool, bar, yoga studio and children’s playground. There will also be a 30th floor Owners Sky Lounge equipped with a private theater/library, game room, wine room, bar and lounge area.

Prices range between $1.5 million and upward of $10 million, with a choice of three- to five-bedroom residences

Have you booked a spot in one of these pre-constructions? Or, are you planning to? Comment and share your thoughts below!

Contact Sep Niakan
Founder, Condoblackbook.com & Owner/Broker, HB Roswell Realty
(786) 930-4220
contact@condoblackbook.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Recent Posts

Greater Downtown Miami Luxury Condo Market Report -- Q3 2019
Real Estate News Greater Downtown Miami Luxury Condo Market Report -- Q3 2019
CondoBlackBook.com’s luxury condo market report for Q3 2019 outlines how sales increased in Miami overall, median prices went down, and heavy inventory kept buyers in control. This report breaks down how neighborhoods in the Greater Downtown area fared individually, as well as compared to the Miami market as a whole. For the purpose of this report, we’ve included areas with the Zip codes 33129, 33130, 33131, 33132, 33136, 33137 – essentially Downtown, Arts & Entertainment District, Edgewater, Midtown, Wynwood, Brickell, Brickell Key, and more. Further, this luxury condo market report only features properties priced $1 million and above. Greater Downtown Miami Luxury Market at a Glance (year over year) Greater Downtown Miami Luxury Condo Market Q3 2019 Highlights: Sales down year-over-year in all neighborhoods Trailing 12-month sales trendline positive for all neighborhoods, except Edgewater Price per sq. ft. lower than Q3 2018 in all neighborhoods Median sales price higher than...
The average Miami Preconstruction Condo buyer lost 14% in resales through Q3 2019
Real Estate News The average Miami Preconstruction Condo buyer lost 14% in resales through Q3 2019
This year, CondoBlackBook.com again teamed up with HB Roswell Realty to analyze the latest new construction resale data across Miami. We tracked new condo units built between 2017 and 2019 in Miami’s urban core and beach areas that have since been sold by the original owner in the first three quarters of 2019. What we found builds upon last year’s report and is surprising—most sellers lost money. On average, Miami new construction condo resales lost around 13.9% when factoring in costs (1.7% at purchase and 6.8% at sale).*  This follows our analysis conducted over the same period last year in which we found sellers lost 11% on average. Our team analyzed 116 new construction resales in Greater Downtown Miami, Coconut Grove, Miami Beaches and the surrounding islands (except Fisher Island and Key Biscayne) that closed in 2019 and found that 40 broke even or made a profit, while 76 resales lost money—nearly 65% of the owners in our study (compared to a similar figure of 63% in last...
Coral Gables and Coconut Grove Luxury Condo Market Report -- Q3 2019
Real Estate News Coral Gables and Coconut Grove Luxury Condo Market Report -- Q3 2019
The latest from CondoBlackBook.com’s Q3 2019 report for luxury condos in Miami shows some slight shifts from the previous quarter -- while overall sales and the median sales price increased, the median price per square foot dropped and a sustained inventory surplus means we’re still in a buyer’s market. This report breaks down how the combined Coral Gables and Coconut Grove fared in the third quarter. For the purpose of this luxury condo market report, we’ve only featured properties priced $1 million and above. Coral Gables and Coconut Grove Luxury Condo Market Q3 2019 Highlights: Sales slightly short of last year’s outstanding performance Positive sales trendline, showing sustained market momentum Price per sq. ft. is lower compared to Q3 2018 Overall inventory drops significantly Coral Gables and Coconut Grove Luxury Condo Market Summary - Fig. 1 Slight Slip in Overall Luxury Condo Sales YoY sales decline marginally, but are higher than 2017, 2016 and 2015 with positive...
Miami’s New and Pre-Construction Condo Update: October 2019
Real Estate News Miami’s New and Pre-Construction Condo Update: October 2019
Supertalls took over pre-construction news this Halloween month. The tallest in the city – Okan Tower won construction approvals. The fourth tallest in Miami, Brickell Flatiron celebrated its completion milestone. The Turnberry Ocean Club, one of the tallest on the Atlantic Coast, topped off. And, the tallest in Edgewater, Missoni Baia snagged a $243 million construction loan. Read on for details on these and other condo pre-construction updates for the month of October below:  Completed Brickell Flatiron - Brickell At 736 feet above ground, Brickell Flatiron now stands complete. It is the fourth tallest building in Miami, just behind Panorama Tower (868 feet above ground), Four Seasons (around 800 feet), and the Southeast Financial Center (764 feet). With closings beginning shortly, 95% of the tower is already sold out. The 64-story skyscraper is home to 527 ultra-luxury condo residences, offering high-end amenities such as a sky pool with lounge, rooftop gym and spa, urban...
Miami Beach Luxury Condo Market Report -- Q3 2019
Real Estate News Miami Beach Luxury Condo Market Report -- Q3 2019
In our overall Miami luxury condo market report for Q3 2019, we saw an increase in sales, a decline in median prices, and heavy inventory keeping things in favor of the buyer. This report breaks down how the neighborhoods in Miami Beach and the barrier islands reacted over the quarter individually, as well as against the market as a whole. For the purpose of this report, we’ve included the sub-neighborhoods of South Beach, Mid-Beach, Sunny Isles Beach, Surfside, and Bal Harbour as part of this Miami Beach grouping. Also, this luxury condo market report only features properties priced $1 million and above. Miami Beach Market at a Glance Miami Beach Luxury Condo Market Q3 2019 Highlights: Miami Beach sales almost match Q3 2018 Sales trendline positive for all neighborhoods Year-over-year sales improve in South Beach, Surfside & Bal Harbour  Miami Beach price per sq. ft. is same as Q3 last year Surfside & Bal Harbour report highest jump in quarter-over-quarter median sales...
The Most Luxurious Condo Buildings in Coconut Grove
Real Estate News The Most Luxurious Condo Buildings in Coconut Grove
Coconut Grove is not just about rich foliage, but is also home to quite a few luxury condo residences. To get a taste of this historic neighborhood plus its plush properties, we’ve enlisted the 5 Most Expensive Condo Buildings in Coconut Grove and bonus pre-constructions that set the bar high for phenomenal living in the city. Why Choose Coconut Grove? Coconut Grove Main Highway. Photo courtesy of MiamiAndBeaches.com The partly coastal neighborhood of Coconut Grove is characterized by lush, tropical foliage and a relaxed Bohemian vibe. Its bouquet of rare boutiques, unique shops, colorful cafés, diverse restaurants, historical venues, lush parks, and easy access to water sports plus a nautical lifestyle make it a breezy neighborhood to live in. The Best of the Best Condos in Coconut Grove  Ritz-Carlton Coconut Grove – 3300, 3340, 3350 and 3400 SW 27th Avenue, Coconut Grove Avg. sales price $624 per sq ftBacked by the world-famous hospitality brand, this waterfront...