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

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

Apr 16, 2019 April 16, 2019

In the month of March, the condo pre-construction market saw two buildings topping off. Elysee announced the opening of its new sales gallery. And, as promised last month, we feature two special offers that will help you save some when buying your next dream condo. Read on for details…

Top-off


The FairchildCoconut Grove

The Fairchild - Coconut Grove


The only upcoming waterfront luxury condo project in Coconut Grove celebrated its top off this March. At 75% sold, the boutique condo building is on track for a fall 2019 completion. Taking inspiration from the Fairchild botanical gardens, the 5-story building features lush gardens and a rainforest. Other amenities include a private marina, floating dock with paddleboards, an outdoor cinema, dog park, lounge, wellness spa with Hammam and rooftop pool with cabanas.

Prices for remaining units start at $2.2 million, with a choice of three- to four-bedroom residences


The Wave on BayshoreFort Lauderdale


The Wave on Bayshore - Fort Lauderdale



The 11-story Wave on Bayshore topped off this March. A block from the beach, the condo building features 18 luxury residences with views overlooking the ocean, waterways and Fort Lauderdale. With two parking spaces per unit and electric vehicle charging stations, other amenities here include a private club room, heated pool, rooftop sun deck, fenced dog park and self-serve dog wash facility.

Prices range between $1.25 million to $2.75 million, with a choice of two- to three-bedroom residences, penthouses start at $5 million

New Sales Gallery


ElyseeEdgewater


Elysee - Edgewater



Elysee announced the unveiling of its new sales gallery at 2955 NE 7th Avenue on April 9. On track for its 2020 opening, the 57-story glassy tower comes with 100 half-floor condos featuring a 7th floor amenity deck with pool, bar, yoga studio and children’s playground. Other amenities include 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

Lawsuits


Parque TowersSunny Isles Beach


Parque Towers - Sunny Isles BeachParque Towers - Sunny Isles Beach



Four buyers have sued developer J. Milton & Associates to get back their deposits as construction hits delays. The unfinished project features 320 condo units spread across two towers. Amenities include resort-style pools, an exclusive kids’ club, al fresco dining, private beach club, an outdoor event space, private screening room, limo services and much more.

Representatives of the developer say that the delays are owing to “unforeseen, geological issues”, and that the buyers are trying to get their deposits back only due to a slowdown in the condo market.

Prices range between $1,075,000 and $1,470,000, with a choice of two- to four-bedroom residences

Other Updates


ArborCoconut Grove


Arbor - Coconut Grove



Developers of this five-story condo building managed to nab a $20.66 million construction loan this March. The 52-unit boutique building is being developed in keeping with an “eco-living” theme, due to which it will feature a bike-sharing program, bicycle concierge, electric car charging stations and a yoga deck. Other amenities at this pet-friendly condo building include a lush courtyard pool, social lounge, rooftop lounge and pilates deck.

Prices start at $799,000, with a choice of two- to three-bedroom residences

Special Offers


The Reserve at Marina PalmsNorth Miami Beach


The Reserve at Marina Palms - North Miami Beach



A special developer residence closeout plan has been announced for the remaining 15 units at this 25-story building. Built on one of Miami’s few private marinas, the boutique condo construction features residences starting at $815,000 and penthouses starting at $1,350,000. The developer financing program will cover up to 60% of the purchase price, hoping to make the residences within reach for many.

Amenities here include a lavish spa and sauna, club room, yoga studio, business lounge, herb garden, butterfly garden, dog walk trail, children’s playzone, pool deck with resort-style pool, summer kitchen and grilling terrace.

Brickell Flatiron - Brickell


Brickell Flatiron



Deposit requirements have been lowered on this 527-unit luxury condo tower post its Fannie Mae approval. This is great news for domestic buyers, considering they can get in at as low as 30% opposed to the industry standard of 50%. The 64-story luxury tower features amenities such as rooftop spa and gym, sky pool plus lounge, rooftop garden, theater, billiard room, cigar room, wine cellar, artwork by Schnabel in public spaces, ground-level retail and more.

Prices range from $500,000 to $2.5 million, with a choice of one- to five-bedroom residences



Which one of these special offers do you think will benefit buyers (you!) the most? Share your thoughts below!

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