Miami’s New and Pre-Construction Condo Update: March 2022

Miami’s New and Pre-Construction Condo Update: March 2022

Apr 11, 2022 April 11, 2022

Miami is in the middle of a building boom, as migrating buyers continue demanding more luxurious residences and exclusive living experiences in the city. With expectations rising for premium lifestyle options in Miami, developers are leaving no stone unturned to deliver the next level in world-class, ultra-luxury, service-driven condo projects.

This month, in a nod to increasing buyer demand, developers Naftali Group and JDS Development announced plans for two unique condo projects. Brickell’s Cipriani Residences, as well as Mid-Beach’s The Perigon, launched sales. Developers at The Standard already started converting to contracts. And, developer Melo Group announced that it will break ground on the highly-anticipated Aria Reserve project in Edgewater this May.

Further, as the city core fills up, March saw some developers spreading out in search of developable land. This had Fontainebleau’s Jeffrey Soffer propose two new condo towers for Aventura, while Location Ventures chose Coral Gables for its latest $100M luxury condo project. Also grabbing headlines was Dezer’s Bentley Residences, as their sales gallery welcomed a life-sized sculpture of Bentley’s upcoming electric vehicle model from England.

Read on for details on these and more updates in our Miami condo pre-construction market roundup for March 2022:


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



Sales Launched

Converting to Contract

Approved

Planned/Proposed

Other Updates

Watchlist


Miami Pre-Construction Condo News - Sales Launched



The Perigon – Mid-Beach

Groundbreaking – NA | Completion – 2025

The Perigon – Mid-BeachThe Perigon – Mid-Beach


Developers Mast Capital and Starwood Capital Group partnered to launch sales for the 17-story, 82-unit oceanfront The Perigon this March. Replacing the 15-story La Costa condo building, this will be Miami Beach’s first ultra-luxury, pre-construction condo sitting directly on the ocean in over a decade.

Designed by Rem Koolhaas’ internationally-acclaimed OMA New York, the tower will feature a unique terraced design and glass facade. Built as a series of towers rotated to frame and enhance water views from every residence, this surreal tower will become one of Miami Beach’s most recognizable buildings. With a reduced footprint maximizing garden space below, the sustainable towers will also obtain a LEED Gold certification upon completion.

Interiors at these interlocking towers will be designed by London-based Tara Bernerd, best known for her private yacht and hospitality projects. All 82 residences at The Perigon will feature light-filled, open floor plans with direct water views, 10-foot-high ceiling heights, 10- to 12-foot deep wraparound terraces, and the highest quality finishes.

Besides world-class service and extraordinary amenity spaces, The Perigon will boast a unique connection to nature via its lush gardens and serene water features. Amenities at this stunning oceanfront tower will include a beachfront swimming pool with hot tub, a fully landscaped deck with cabanas and sunbeds, an oceanfront restaurant, a speakeasy-style bar, a conservatory with daily breakfast bar, a sunrise lounge and terrace, spa, ocean-view fitness center, children’s playroom, private salon, screening room, wine room, house car, pool and beach service, in-residence dining, and much more.

Prices start at $3 million, with a choice of two- to four-bedroom residences.


Cipriani Residences – Brickell

Groundbreaking – Late 2022 | Completion – Late 2025

Cipriani Residences – Brickell


After months of anticipating a new development at 1420 S. Miami Avenue, Mast Capital finally revealed plans by launching sales for the Cipriani Residences this March. The parcel has been on our watchlist since 2020 when Mast Capital and the Boston-based Rockpoint Group bought the 2.8-acre site for $103 million.

Part of a three-tower project, the Cipriani Residences will be built to evoke the spirit of the Italian brand best known for its distinguished style, world-class services, and a legacy spanning four generations. Designed by Arquitectonica, the 80-story tower will rise with 397 ultra-luxury residences. All condo units will feature expansive terraces, custom Italian kitchen cabinetry, Wolf/Sub-Zero appliances, an intelligent interface to access building services, and more. 

Amenities at the Cipriani Residences will include a deck with two pools, cabanas and food service, a sun terrace, spa, fitness center, pickleball court, golf simulator, screening room, children’s playroom, library, round-the-clock Cipriani dining services inclusive of a Cipriani bar and private dining rooms, a dog park, salon, 10,000 square feet of retail, and more.

In addition to the Cipriani Residences, there will be two other towers rising 59 and 50 stories, each with 850 rental apartments at the 2.8-acre site. Boston-based Rockpoint Group will partner on the rental developments. For more details on the Cipriani Residences, go here.

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


Miami Pre-Construction Condo News - Buildings Converting to Contract



The Standard ResidencesMidtown Miami

Groundbreaking – 2022 | Completion – Mid-2023

The Standard Residences - Midtown Miami


Just a few months after launching sales in December 2021, developers Carlos Rosso (ex-Related Group), Standard International, and Midtown Development are converting reservations into contracts at 60% sold. Buyers, this is your opportunity to get your foot in with the remaining inventory or in case certain units do not convert. Developers also released new renderings this March to offer potential buyers more insight into this upscale building.

The Standard Residences will mark the experiential hospitality brand’s foray into residential development. Rising 12 stories with 228 pied-à-terre-style residences, the luxury development will be looking to create a new benchmark for condo living in its Midtown neighborhood. Designed by Arquitectonica, each residence will feature custom finishes and interiors by Urban Robot Associates in the brand’s typical “anything but standard” fashion.

With no hotel on site, the condo property will maintain its privacy and luxe appeal. Owners will further be allowed short-term rentals subject to a minimum of 30 days. They will also receive access to a “Friends with Benefits” program, affording them preferred pricing at The Standard properties across the globe. 

Besides 34,000 square feet of amenity space, The Standard will also house 10,000 square feet of retail but no parking. Amenities will include light wood plank tile flooring in all residences, a landscaped rooftop with 60-foot resort-style sunset pool, lobby-level outdoor café, signature rooftop restaurant and bar, an infrared sauna, indoor pickleball court with disco lights, a karaoke bar with screening room, co-working spaces, pet spa, and much more.

See more details on The Standard’s first-ever residences, here.

Prices expected to range from $329,900 for studios to $659,900 for two-bedroom residences.


Miami Pre-Construction Condo News - Projects or Permits Approved



St. Regis ResidencesSunny Isles Beach

Groundbreaking – Early 2023 | Completion – 2026 

St. Regis Residences - Sunny Isles Beach


Approved by the Federal Aviation Administration (FAA) this March, the St. Regis Residences will rise to be the second tallest buildings in Sunny Isles Beach (behind Bentley Residences). While the south tower will rise 739 feet above ground with 194 luxury residences, the north tower will rise 744 feet above ground with 180 luxury condos. Developers Fortune International Group and Chateau Group will first launch sales for the 62-story south tower.

Designed by Arquitectonica with interiors by Sao Paulo-based designer Anastassiadis, residents will be treated to exceptional attention to detail in these two ultra-luxury oceanfront towers. Furnishings in the twin towers will be curated by Artefacto, while EDSA will handle landscape design. 

Besides access to the hospitality brand’s benchmark butler services, amenities will span private beach facilities, oceanfront and sunset pools, a wellness center and spa, an athletic club, a signature restaurant, 1,000 parking spots, and much more. Rising against 435 linear feet of pristine oceanfront, these exclusive, service-oriented residences will offer 70,000 square feet along with a purely residential experience with no hotel or short-term (transient) use of the property.


Miami Pre-Construction Condo News - Projects Planned & Proposed



Miami Worldcenter Supertalls by Naftali Group  – Downtown Miami

Miami Worldcenter Supertalls by Naftali Group  – Downtown Miami

New York-based developer Naftali Group announced plans this March to add two new residential supertalls to the mega Miami Worldcenter development in Downtown. Pre-sales for the condo residences are expected to launch at year-end. The skyscrapers will join the amenity-rich Paramount Miami plus health-centric Legacy Hotel-Residences. 

Naftali’s two supertalls will be located at 1016 Northeast Second Avenue within the Miami Worldcenter mega-complex. The site was previously owned by Akara Partners. Naftali Group purchased the parcel for $40.5 million this March. Although the group is yet to partner with a design firm for the proposed project, it has Robert A.M. Stern Architects working on multiple projects in New York.


Jeffrey Soffer’s Twin Condo Towers – Aventura

Jeffrey Soffer’s Twin Condo Towers – Aventura


Replacing Aventura’s famous Turnberry Isle Yacht Club, developer Jeffrey Soffer plans to build a pair of 24-story condo towers. The billionaire behind the illustrious Fontainebleau Development is looking to replace the 50-room hotel, eight tennis courts, and parts of the parking lot at 19500 and 19735 N.E. 36th Street with the two condo buildings.
 

The 18.4-acre site of the yacht club will be developed in phases. Phase one will include the construction of a north tower with 145 condos, 10 service suites, plus 320 parking spaces. The second phase would include the construction of the south tower with 144 condos, 6 service suites, and 312 parking spaces. The smaller service suites in both towers will be suitable for guests and be available for purchase to condo owners only. 

Each condo tower will feature its own pool, fitness center, and social rooms. The south tower will additionally carry two new tennis courts. 


Major – Brickell

Major - Brickell

Submitting plans to the Miami-Dade County Planners, developer JDS has reaffirmed its proposal to build Major - a new condo offering with one of “the most impressive collection of food and beverage amenities of any building in Miami, if not the United States.”

The supertall planned for 888 Brickell Avenue will rise 82 stories (once approved by FAA) 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.

Designed by Studio Sofield in collaboration with ODP, the supertall will carry 50,490 square feet of commercial/food and beverage spaces, event space, wine storage, a cigar room, a 35th-floor pool and party room, plus three floors dedicated to sports and wellness – inclusive of a spa with mineral pool and champagne pool, a padel court, a boxing area, an F1 simulator, plus a golf simulator.


Location Ventures’ $100M Luxury Condos – Coral Gables

Location Ventures’ $100M Luxury Condos – Coral Gables

Replacing a 100-year-old apartment building, developer Location Ventures plans to build a 16-story condo tower in the City Beautiful of Coral Gables. The developer has promised (and will likely be required) to preserve the 5,736-square-foot apartment building built in 1925 on the 1.56-acre site.

Designed by Coral Gables-based Hamed Rodriguez Architects, the condo tower will rise at 1505 Ponce de Leon Blvd and 122 and 126 Menores Ave. Besides 87 luxury condos, the building will feature a 4th-floor amenity deck with pool, 5,323 square feet of indoor amenities, 10,500 square feet of retail, 23,034 square feet of public open space, and 319 parking spaces.


Miami Pre-Construction Condo News - Other Updates



Casa Forma – Arts & Entertainment District

Casa Forma – Arts & Entertainment District


With the filing of its zoning application, developer Crescent Heights released more details on its massive mixed-use complex planned for 1370 NE 2nd Ave. Designed by Rafael Viñoly Architects, the 649-foot, 54-story tower will feature 1,441 residential units, 143,328 square feet of office space, 7,959 square feet of retail, and 1,532 parking spaces (of which 600 will be reserved for the school board and Arsht Center). 

The sail-like tower will also feature 5 floors of amenities along with massive digital screens covering its façade. The screens will showcase live performances from the Arsht Center, movies, plus performances from other cultural institutions in the neighborhood.


Baccarat Residences (previously 444 Brickell) – Brickell

Groundbreaking – 2022 | Completion – Fall 2025

Baccarat Residences (previously 444 Brickell) – Brickell


Moving closer toward its goal of breaking ground this year, developer Related Group filed for a construction permit for its 73-story Baccarat Residences tower this March. The new filing pitches the ultra-luxury tower at 73 stories as opposed to 75 stories tall. Managed by Barry Sternlicht’s SH Hotels & Resorts, the riverfront tower will rise with 352 residences and 10,000 square feet of restaurant space. The tower already has its dewatering permit in place to allow foundation work.
 

Designed by Arquitectonica, the fast-selling tower will feature an undulating façade as reflective as French crystals. All luxury residences will feature high-end interiors by Meyer Davis Studio. Residents will be treated to a unique blend of 18th-century Paris, 21st-century Miami, and 1930s Art Deco influences throughout their abodes.

62% sold within 6 months of launch, highlight amenities at this stunning tower will include a riverfront restaurant, marina with yacht dockage, and a “luxury house yacht.” Other amenities will include a pool, wine cellar, game room, children’s playroom, spa, beauty salon and barber, clubroom, grand salon for events, private workspaces, business center, and more. The ultra-luxury Baccarat residences will be the first in a three-tower complex, which will feature a 47-story, 506-unit apartment tower in phase two of developments. All in all, the riverfront complex will house 1,400 residences, a 250-room five-star hotel, class-A office space, and retail.

Prices range from around $1.1 million to $3.5 million per unit, with a choice of one- to four-bedroom residences. Penthouses will be upwards of $14 million.


One Brickell City Centre – Brickell

One Brickell City Centre – Brickell


Looking to revive its plans from 2013, developer Swire Properties is pushing for FAA approval to build One Brickell City Centre to a height of 1,040 feet above ground, or the same height as the 
Waldorf Astoria. The 80-story condo tower was approved in 2015 and 2018 but permits are set to expire soon as they were not activated in time.


Mr. C Residences’ Bayshore Tower – Coconut Grove

Groundbreaking – July 2020 | Completion – Year-end 2023

Mr. C Residences’ Bayshore Tower – Coconut Grove


Revealing new amenities, developers Terra Group and the Cipriani brothers announced the next phase of amenity offerings at the Mr. C Residences. Designed by Meyer Davis Studio and Arquitectonica, the brand-new rooftop pool deck plus bar, billiards library, and lounge space will feature Art Deco influences along with the iconic glamor of the 1950’s Italian Riviera. The design additions are expected to elevate the high-end residences to a new level of luxury.

On the verge of selling out, this Bayshore Tower is on its way to rising 21 stories with 121 furniture-ready luxury residences. Carrying a prominent nautical design dialogue, the marina-front tower will afford amenities such as bronze-toned mullions like those found on luxury yachts, navy blue and light cream tones running throughout, laminated wood paneling, a private Bellini bar and pool lounge, a signature Mr. C Café, a specialty gourmet marketplace, a wellness lounge with juice bar, a full-floor of body-and-mind wellness spaces, a Little C’s Learning and Adventure Lab, teen game rooms, and much more.

For more detailed information on Mr. C Residences’ Bayshore and Tigertail Towers, read here.

Prices start in the low $600,000’s to over $5 million, with a choice of one- to five-bedroom residences.


Aria Reserve – Edgewater

Groundbreaking – May 2022 | Completion – Summer 2024


Announcing a May 2022 groundbreaking, developer Melo Group is quickly moving to bring these tallest residential twin towers on a U.S. coastline to life. With its first tower more than 90% sold, developers will soon launch sales for the second tower in this bayfront complex.

Rising along 550 linear feet of sparkling bayfront, the 60-story twin towers are designed by Arquitectonica and feature a unique zigzag pattern. While the first tower will house 383 luxury residences, the second will be home to 399. Each condo unit in Aria Reserve will feature interiors by MORADA Haute Furniture Boutique, direct water views, 11-foot-deep terraces, East to West flow-through floorplans, a dedicated office/bonus room, plus two flooring options. Owners will further be allowed to rent up to 4 times a year.

Highlight amenities at Aria Reserve include a 2-acre recreation deck with a semi-Olympic-sized lap pool, a children’s splash pad, a whirlpool spa, gaming center, teen lounge, and playground. Other amenities at these waterfront twin towers will include a telescope observatory area, miniature golf, tennis courts, basketball courts, paddle courts, a signature two-level waterfront restaurant and café, indoor-outdoor wellness center, meditation gardens, theater room, dog park, and custom-designed water sports dock with for-rent equipment.

Developer Melo Group will also build a public park along 23rd Street in Edgewater to offer residents direct access to a 5-mile-long, bicycle, and pedestrian-friendly waterfront promenade. For more details on the Aria Reserve condo towers, their features, location, and how they will be the best-priced waterfront investment in Miami, read here.

Prices range from $920,000 to over $2 million, with a choice of one- to four-bedroom condo residences. Penthouses start at $12 million.


Five Park’s Canopy Club (previously The Park on Fifth) – South Beach

Groundbreaking – Q3 2021 | Completion – 2023

Five Park’s Canopy Club (previously The Park on Fifth) – South Beach

Developers Crescent Heights and Terra Group have almost completed the construction of Canopy Park – a lush 3-acre park as part of Phase One of their Five Park development. Designed by ArquitectonicaGEO, the public access park will feature native shade trees, a botanical garden, an art pavilion, pedestrian and bike paths, an outdoor gym, a Monstrum-designed children’s playground, and a dog run.

Phase Two of the project is also underway as the 44-story Canopy Club condo tower is rising in Miami Beach. Dominating the entrance to South Beach, the Arquitectonica-designed tower is expected to be the tallest ever in Miami Beach at a height of 546 feet. The high-rise will feature 98 condos (floors 30-48) and 180 “park residences” (which could be rentals or condos). All condo residences will feature interiors by Gabellini Sheppard.

Flaunting 40,000 square feet of amenities, residents will gain access to a 5th-floor pool deck, 26th-floor clubhouse, two fitness centers, spa and treatment rooms, lounge areas, a grand lobby with a gourmet cafe, a restaurant, library, screening room, co-working spaces, short-term rental suites, electric car charging stations, and more. Phase three of the project will include the construction of a pedestrian bridge over 5th Street, connecting the park to the Baywalk, South Pointe Park, and the beachfront.

Prices start at $2.5 million, with a choice of two- to five-bedroom residences. 


Bentley Residences – Sunny Isles Beach

Groundbreaking – Early 2023 | Completion – 2026

Bentley Residences – Sunny Isles Beach

Grabbing headlines, Bentley Residences’ sales center received a custom-designed sculpture from its headquarters in Crewe, England. The polyurethane, steel, and fiberglass sculpture represents the future of the British luxury car manufacturer, which plans to go all-electric within a few years. The sculpture captures a speeding Bentley in action and will be displayed at the entrance of the oceanfront condo tower upon completion. 

Designed by Sieger Suarez, the 60-story, cylindrical Bentley Residences will be one of Sunny Isles’ most iconic buildings and the tallest residential building on any U.S. coastline at 749 feet. The statement tower will feature a highly reflective, tough-as-diamonds, triangulated glass façade capable of withstanding winds up to 175 miles per hour – combining beauty with function.

Developed by Gil Dezer, the ultra-luxury tower will use sustainable materials throughout. With only 4 units per floor, the high-rise will be home to a total of 216 residences. A one-of-a-kind game-changer, each residence at this oceanfront tower will be equipped with a sunken swimming pool on its balcony, outdoor kitchen, access to the patented car elevator called the Dezervator, and a personal four-car garage right next door to the sky residence. All residences will also feature direct ocean views, outdoor showers, custom lighting, and signature scenting by Bentley Motors. Highlight amenities include two pools, an indoor-outdoor fitness center, spa, whisky bar, private restaurant, cigar lounge, cinema, beautifully landscaped communal gardens, and more.

Read more about Bentley Residence’s commitment to sustainability, other standout features, and location here.

Prices start at $4.2 million, with a choice of residences starting at 3 bedrooms.


Miami Pre-Construction Condo News - Watchlist



Related Group & 13th Floor Investments to Buy Out Castle Beach Club Condo – Mid-Beach

Castle Beach Club Condo


Going bullish on acquisitions to satisfy heightened buyer demand, Related Group & 13th Floor Investments have proposed buying out the Castle Beach Club Condo building for $500 million. The 4-acre, oceanfront property at 5445 Collins Avenue stands 17 stories with 570 condos. Built in 1966, the property is ripe for redevelopment into a luxury condominium and would fetch top-dollar given its premium oceanfront location. Also, with a payout of $500 million, the developer duo would be creating a new price record for old condo buyouts in Miami.
 


1775 Biscayne For Sale – Edgewater

1775 Biscayne


With ground testing activity taking place in March, the parcel at 1775 Biscayne is now advertised for sale. According to plans submitted to the UDRB in 2017, the site was proposed to carry a 53-story tower with 444 residential units, 200 hotel rooms, 45,600 square feet of retail/restaurant, 64,800 square feet of office, plus 546 car/39 bicycle parking spaces.


KUSH Building Sold - Wynwood


The mixed-use property housing Wynwood’s longtime staple burger restaurant, KUSH sold for $2.6 million this March. Located at 2003 North Miami Ave., the two-story property was purchased by Matt Kuscher, owner of Kush Property LLC. Currently, the building holds 3 retail spaces and 10 studio apartment units on its second floor.
 

If you are interested in buying or investing in a pre-construction project you see here, please call, chat, or e-mail us so we can help you find the right property for your interests.


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