Miami’s New and Pre-Construction Condo Update: June 2019

Founder, Condoblackbook.com & Owner/Broker, HB Roswell Realty
Miami’s New and Pre-Construction Condo Update: June 2019
Founder, Condoblackbook.com & Owner/Broker, HB Roswell Realty

Jul 15, 2019 July 15, 2019

The market is abuzz with condo pre-construction updates this July. We have the late Zaha Hadid-designed One Thousand Museum finally moving ahead with closings. Natiivo (Powered by Airbnb) launched sales. And, the Related Group has a new condo proposal for Terminal Island. Read on for details on these and more updates below:

Foundation Pour

Aston Martin ResidencesDowntown

300 Biscayne Boulevard Way, Miami, Florida, 33131

Aston Martin Residences - Downtown Miami


This first-ever residential undertaking by Aston Martin witnessed the
largest concrete foundation pour to date in Miami. After all, it is designed to rise 66 stories and become the tallest residential development South of New York City. This unique windsail-design building features the only deep-water superyacht marina in Downtown Miami, along with signature Aston Martin touches throughout its common spaces. Other amenities include an infinity pool, sky lounge, two cinemas, kids’ rooms, an art gallery, spa and barber station, optional personal butler service and direct access to the Bay via the marina. Developers are aiming for a 2022 completion.

Prices start at $750,000 for condo units, while penthouses are available for $50 million

Sales Launch

Natiivo - Downtown

190 NE 6th St, Miami, FL 33132

Natiivo - Downtown Miami


The first-ever Airbnb-backed hotel condo project in South Florida
launched sales this July. Looking forward to a Spring 2022 opening, the 48-story tower is set to feature about 600 units. With interiors designed by Urban Robot, the first-of-its-kind project will be home to 400 condo residences and 200 Natiivo hotel units.

One of the biggest highlights of this condo-hotel is that unit owners will directly be able to place their individual rooms or entire residences on the Airbnb platform. The property will naturally be a part of the ‘Powered by Airbnb’ program, which is the popular home-sharing platform’s consulting business for new buildings. Residents can look forward to access to co-working spaces and hotel-style food and beverage programs.

Prices start at $300,000, with a choice of studios to three-bedroom residences

Approved

Capri CondoNorth Beach

13899 Biscayne Blvd, North Miami Beach, FL 33181

Capri Condo - North Beach


Developer
Blue Road won approval to build a 16-story condo tower in place of a 61-year-old Senator Building on Biscayne Boulevard. The mid-rise is expected to break ground by June 2020. Occupying 1.7 acres of land, it will feature 252 condo residences plus seven townhomes. A variance approved by the North Miami Beach City Commission also enables the construction of a 15-foot-high, fifth-floor amenities deck complete with garden space, a pool and two spas. Residents will also get to enjoy a first-floor bar lounge, multipurpose tech center, a rooftop observation deck, private children’s park and a 399-space garage upon completion.

Prices expected to range between $400 per sq. ft. and $500 per sq. ft., with a choice of 609 sq. ft. studios to 1,901 sq. ft. townhouses

Proposed

One Island ParkSouth Beach

120 MacArthur Causeway, Miami Beach, FL 33139

One Island Park - South Beach


Miami Beach’s Terminal Island is set to gain
90 new condo units at One Island Park if all goes well for the Related Group’s latest proposal. The Group hopes to acquire land from the city and win land use plus zoning alteration approvals to build the 400-foot tower offering 360-degree views. The Group is also pushing for these to be the only residential component on Terminal Island in order to get the square footage it needs.
 

Other updates

One Thousand MuseumDowntown

1000 Biscayne Blvd, Miami, FL 33132

One Thousand Museum - Downtown Miami


As scheduled,
closings started taking place this month for the late Zaha Hadid-designed skyscraper. This scorpion-like tower received its Temporary Certificate of Occupancy in July, post breaking ground in December 2014. The 62-story, 84-unit ultra-luxury condo tower offers amenities such as a rooftop helipad, outdoor wellness garden, yoga deck, spa with relaxation pods, two pools, third-floor sundeck, pool bar and lounge, club room, library, vertical gardens, underground parking, a bank vault, off-site beach club and more.

Prices range between $1.5 million and $31 million, with a choice of two- to four-bedroom residences

Okan TowerDowntown

555 N Miami Avenue, Miami, FL 33136

Okan Tower - Downtown MiamiOkan Tower - Downtown Miami


The first-ever approved condo-hotel for Downtown has
started taking contracts. Aimed at becoming one of the tallest in Miami, this 70-story mixed-use tower features 153 private condo residences, 236 condo-hotel residences and 316-key hotel suites. Residents get access to a full spectrum of amenities including a full-service spa with Hammam, three swimming pools, a pool bar and lounge, cigar room, screening room, kids’ club, co-working spaces and more.

Prices start at $359,000, with a choice of studios to three-bedroom residences

YotelPadDowntown

227 NE 2nd St, Miami, FL 33132

YotelPad - Downtown MiamiYotelPad - Downtown Miami

This 31-story condo-hotel has become one of the fastest selling projects in Miami at 90 percent sold, after sales being launched in April last year. Scheduled to open in 2021, the development will feature 231 condo units and 222 Yotel cabins. Amenities include a fully-loaded skytop lounge with game zone and chef’s kitchen, coffee bar, three Techi robot butlers, full-service restaurant and bar, lounge, co-working spaces, pool deck, bike storage, pet salon and more. The garageless building will have condos on level 15 and upwards, with unit owners getting the choice to participate in the condo-hotel’s short-term rental program, or even rent to Airbnb without any restrictions.

Prices average at $650/sq. ft. and begin in the $300,000s, with a choice of 417 sq. ft. studios to 708 sq. ft. two-bedroom residences.



Does one of these pre-constructions interest you? Share your thoughts in the comments below!

Recent Posts

The Most Luxurious Condo Buildings in North Beach
Real Estate News The Most Luxurious Condo Buildings in North Beach
Luxury means different things to different people, but high-end living usually demands high-end prices. So, to gauge which are the most luxurious condo buildings in North Beach, we’ve ranked the top 5 most expensive buildings of the neighborhood and given you a sneak peek into the kind of lifestyle you can expect in North Beach condo living. Why Choose North Beach? Bandshell - North Beach, Miami FL. Photo courtesy of MiamiAndBeaches.com North Beach is best known for its family-friendly vibe and is positioned firmly between the sensationalism of South Beach and high-end shopping at Bal Harbour. Historically, this has been the sleepy cousin to South Beach, but has been going through a renaissance of late with the addition of new constructions and planning of the city center. Away from the chaos, this laidback part of town boasts of crowd-free beaches, a great golf course, musical events at the North Beach Bandshell and scenic walks along the boardwalk.  The Best of the Best Condos...
Miami’s New and Pre-Construction Condo Update: July 2019
Real Estate News Miami’s New and Pre-Construction Condo Update: July 2019
July has been a month of many beginnings in the world of Miami pre-construction condos. Villa Valencia made its debut with a ground breaking. YotelPad started its vertical ascent. And, the condo tower at Miami Worldcenter marked its completion after four years of being pre-construction. However, some of the most shocking news came in from the developers at Le Jardin, who went ahead and filed for bankruptcy without their project actually being insolvent. Read on for details on these condo pre-construction updates and more below: Now Open One Thousand Museum – Downtown After breaking ground in December 2014, this Zaha Hadid-designed ultra-luxury tower is finally open to receive residents. Each of its 83 units are designed to maximize views, since its unique exoskeleton supports the tower with zero internal pillars. Residents will now be able to enjoy a host of spectacular amenities including its private helipad, outdoor wellness garden, yoga deck, world-class spa with relaxation...
A Short Guide to VA Approved Condos in Miami
Real Estate News A Short Guide to VA Approved Condos in Miami
It only makes sense that those who have served the country get some perks and benefits to make life easier. A VA home loan is one of those benefits. It is the best kind of mortgage available, since it requires no down payment (up to a certain limit), no mortgage insurance, has low interest rates, low closing costs and is easier to qualify for than any other loan out there. Veterans can use their VA home loan to finance a condo, townhome, or single-family home. However, financing a condo comes with a little twist. Since you can only use your VA home loan to finance a VA approved condo, here are a couple of things you should know:  We’ve included a complete list of VA approved condos in Miami at the end of this article to give you a jumpstart on your home owning process. If you want to see a list of VA approved condos in Miami, jump down here :) Cité - Edgewater, Miami FL What is a VA Approved Condo? A condo development submitted to and approved by the Department of Veteran...
The Most Luxurious Condo Buildings in Bal Harbour
Real Estate News The Most Luxurious Condo Buildings in Bal Harbour
Bal Harbour condos have always been known to be some of the finest in town. But, what’s so special about these premium addresses that makes them so pricey? We’ve listed the Top 5 Most Luxurious Condo Buildings in Bal Harbour and the outstanding amenities they have that sets them a class apart. Below are the top condos ranked from least to most expensive. Why Choose Bal Harbour? Bal Harbour has always been one of the most coveted oceanside addresses in Miami. Just like the Shops at Bal Harbour are known for showcasing only high-end brands, the neighborhood too is known for housing only the world’s finest residences. Privacy and exclusivity are a given with a Bal Harbour address. Though this ultra-luxury neighborhood has its own tranquil beachfront, it also benefits from being just a 20-minute drive away from South Beach’s spoils and the mainland’s culture and shopping destinations. The Best of the Best Condos in Bal Harbour Palace at Bal Harbour – 10101 Collins Avenue, Bal...
Why Are Luxury Condo Sales Surging in Downtown Miami as Sales Weaken in Miami Beach?
Opinions and Advice Why Are Luxury Condo Sales Surging in Downtown Miami as Sales Weaken in Miami Beach?
Move over Miami Beach, there’s a new rising star on the block. For long, Miami Beach has been the hot favorite for property seekers in Miami. Whether it’s been about purchasing a permanent residence or getting a second home, South Beach properties have always sold out like hot cakes. On the other hand, Greater Downtown (Edgewater and Brickell included) has mostly been a second-best option to South Beach and Miami Beach, possibly out of necessity, with proximity to work being the biggest motivator for local buyers. But, as we’ve been tracing luxury condo trends over the last couple of years via our quarterly market reports, we noticed a reversal. The Greater Downtown area is now emerging as the top favorite among luxury condo seekers. Here are some reasons we are seeing this new trend: Numbers Speak: Miami Beach vs. Greater Downtown Miami Over the past couple of quarters, sales trends in Greater Downtown Miami have been marching ahead, even as those in Miami Beach slowed down....
Massive Lawsuits Won by Miami Condo Associations Mean Awesome Upgrades for Condo Owners and Residents
Real Estate News Massive Lawsuits Won by Miami Condo Associations Mean Awesome Upgrades for Condo Owners and Residents
Recently, a handful of condo associations have scored massive windfalls thanks to lawsuits leveraged against insurers and developers. This is obviously great news for condo associations, and it also usually means that the associations' finances will likely be great for years to come. This in turn translates into improved living conditions for residents of those buildings, since these windfalls provide opportunities for condo associations to make major repairs and improvements that benefit residents.  Oftentimes, the amount of money they win does not actually need to be spent entirely on the issue that motivated the lawsuit (many times the repairs have already been made by the time the lawsuit is settled). This provides a great opportunity for the condo to either fill their reserves and avoid special assessments on future capital improvements and maintenance projects, or simply spend money doing awesome upgrades on various things. Cité Law Suit Settlement Cité in Edgewater In...