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

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

Feb 06, 2019 February 06, 2019

So we compiled December’s list a bit late, but better late than never! :) The year-end market for pre-construction condos saw the Ritz-Carlton topping off, quite a few approvals coming through, and developers planning a beach club for late Zaha Hadid’s one and only masterpiece in Miami. Read on for details on these and more below:

Topped-off


Ritz-Carlton ResidencesSunny Isles Beach

Ritz-Carlton Residences – Sunny Isles Beach

After beginning construction two and a half years ago, the Ritz-Carlton Residences have finally topped off at 52 stories. The beachfront development features a total of 212 luxury condos. The milestone was celebrated by developers and the contractor at separate events. Amenities include a 33rd floor private club with a media room, library, bar, lounge and guest suites, a 4th floor lap pool, two spas, an oceanfront wellness center, first-rate restaurant and kids club and more.

Prices range from $2.6 million to $30 million for penthouses, with a choice of two- to four-bedroom residences and penthouses


Approved


44-story condo tower by Crescent Heights – South Beach

44-story condo tower by Crescent Heights – South Beach

Miami Beach commissioners approved the construction of the 44-story tower proposed by Crescent Heights. The approval comes in exchange of developers agreeing to fund a 3.2-acre park and other public benefits in the vicinity. The luxury tower is slated to rise 519 feet and house a total of 410 condo units. While the park has a construction deadline of 2.5 years, the condo tower should be completed within eight years, as per the approval guidelines.


The Edge on Brickell - Brickell

The Edge on Brickell - Brickell

Brickell’s riverfront is all set to gain 70 condo units, 198 hotel rooms, and 122 parking spaces, as the Edge on Brickell wins key zoning waivers. The boutique condo hotel will occupy a narrow riverfront lot and feature a riverwalk. Developer, Brick Group also plans on including restaurants at the ground and rooftop levels of the luxury condotel.


Sunset Park - South Beach

Sunset Park - South Beach

Developer Deco Capital Group managed to gain key approvals for its Sunset Harbour development from two Miami Beach boards this past December. The scaled-back development will occupy roughly 67,000 sq. ft. of Purdy Avenue. The five-story development is set to feature 20,000 sq. ft. of retail space at its ground level, housing two cafés, two large restaurants and four traditional retail units. The next level will be dedicated to parking. And, the top three stories will feature condos ranging between 2,900 sq. ft. and 3,700 sq. ft. in space. Construction is expected to begin in 2020.


Other Updates


One Thousand MuseumDowntown

One Thousand Museum – Downtown

Adding to its kitty of five-star amenities, developers are planning on offering residents a brand-new beach club called Museum Beach. The facility is expected to be located in the South of Fifth area. This 709-feet tower is the only high-rise designed by the late Zaha Hadid in Miami, and is expected to be completed in the first quarter of 2019. Other amenities at this ultra-luxury condo tower include an 8th floor pool deck and fitness center, a 9th floor spa and relaxation sky lounge, plus a 5,600 sq. ft. ground-level restaurant, along with a host of other special features.

Prices range from $5.5 million to over $20 million, with a choice of half-floor units, two-story duplexes and full-floor penthouses


UnaBrickell

Una – Brickell

Developer OKO Group filed for a construction permit for its one-acre, waterfront development in Brickell this December. The 613-foot tower is set to feature 138 luxury condos sprinkled across 47 stories. Amenities at this ultra-luxury development include a third floor dedicated to three pools, an outdoor lounge, cabanas and grilling area, a waterfront spa and fitness center, private marina, cinema and more. Luxury residences at Una will also feature underground parking and a public Baywalk landscaped by Enzo Enea connecting to a park nearby.

Prices start at $942,000, with a choice of two- to five-bedroom residences


One River PointMiami River

One River Point – Miami River

An application has been filed, yet again, with the Federal Aviation Administration by developers of One River Point. This time, the FAA-application has been submitted for the construction of an 817-foot tower. Previously, the condo project had already received FAA approval to build a 928 feet tall tower. However, the approval was set to expire by September 2018, and it did, since the twin-story tower missed starting construction by said date. The 60-story tower is planned to include a dramatic floating Sky Bridge connecting both towers, a signature waterfront restaurant, the largest riverfront full-service pool, B&B Italia-furnished cabanas, a sculpture garden, pet spa, curated exhibition spaces and much more.


Palazzo Del Sol and Palazzo Della Luna - Fisher Island

Palazzo Del Sol - Fisher Island
Palazzo Del Sol

Palazzo Della Luna - Fisher Island
Palazzo Del Luna

PDS Development nabbed another $50 million loan to add to its previous $90 million bridge loan to fund both its luxury properties in Fisher Island. The previous loan was taken in January 2018. Just like the previous loan, this one too will be used for the sell-off of remaining units at (completed) Palazzo Del Sol, and the construction of Palazzo Della Luna. Occupying the last waterfront parcel on Fisher Island, the ultra-luxury development is accessible only by private yacht, the island’s auto-ferry or helicopter. The 10-story, 50-unit boutique building shares a “Central Park” with sister development Del Sol, which includes outdoor tea gardens, a croquet lawn, bocce ball court, yoga lawn. Other highlights include a beauty salon, multiple pools, cabanas, pool bar, spa, fitness center, massage suites and more.

Prices range from $6.5 million to $40 million, with a choice of three- to seven-bedroom residences and penthouses


2000 OceanHallendale Beach

2000 Ocean – Hallendale Beach

After breaking ground in November 2018, developer KAR Properties has secured a $103 million loan for the construction of its beachfront condo project. The luxury development is set to rise 38 stories and feature 64 condos, all outfitted with designer furnishings from Minotti. While 58 of the condos will be half-floor residences, five will be full-floor penthouses spanning 6,000 sq. ft. each.

Private beach amenities here include cabanas, chaise lounges, umbrellas, a fireplace and towel service. Other amenities include an oceanfront and sunset pool with butler service, a Spa Pavilion with Hammam and ice room, oceanside café by Wright Fit, sculpture garden with commissioned artwork by David Harber, curated gardens by Sasaki and an oceanfront library.

Prices range from $2.6 million for regular units to $12 million for penthouses, with a choice of three- to five-bedroom residences


AuroraSunny Isles Beach

Aurora – Sunny Isles Beach

The Verzasca Group secured a $25.7 million construction loan for their 17-story condo tower in Sunny Isles Beach. The 61-unit building is 70% presold and expected to go vertical in the first quarter of 2019. Amenities include a sprawling pool deck, open-air yoga garden, kid’s zone, beach concierge and a private garage with 10 electric car-charging stations.

Prices start at about $700,000, with a choice of two- to three-bedroom residences



Subscribe for monthly updates on such and more condo pre-construction news in Miami.

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...