Miami’s New and Pre-Construction Condo Update: October 2022
Nov 21, 2022 November 21, 2022
Miami’s luxury condo market may have hit a seasonal plateau but its development cycle shows no signs of stopping. With strong business and wealth migration coming here over the last two years, developers are looking to fulfill the demand for luxury and waterfront housing with larger floorplans affording a single-family home lifestyle with the convenience of a condo.
This October, we saw 4 exquisite luxury condos launch sales all over Miami – La Baia North, The Residences at 1428 Brickell, 600 Miami Worldcenter & The Avenue. A unique private beach home project was also launched in Surfside called the Surf Row Residences. Downtown’s Waldorf Astoria Hotel and Residences made history by being Miami’s first supertall to break ground. And, a flurry of new projects was announced by the likes of Related Group and Two Roads, SB Development and Hazelton Capital Group, as well as MG Developer and Peru-based VYV.
Read on for more details on these and many other updates in our Miami condo pre-construction market roundup for October 2022:
October 2022 - Miami Pre-Construction Condo Market at a Glance
- La Baia North – Bay Harbour Islands
- The Residences at 1428 Brickell – Brickell
- 600 Miami Worldcenter – Downtown Miami
- The Well – Bay Harbor Islands
- The Avenue – Coral Gables
- Surf Row Residences – Surfside
- The Residences of Bal Harbour – Bal Harbour
- The Edge/The Cove – Edgewater
- 22 East Flagler – Downtown Miami
- Mixed-use Condo Tower – Edgewater
- Alhambra Park – Coral Gables
- Continuum Co’s Condo Development – North Bay Village
- Alchemy-ABR Investment Partners’ Residential Project – Wynwood
- Una Residences – Brickell
- Deauville Resort Redevelopment by Frank Gehry – North Beach
- Baccarat Residences (previously 444 Brickell / One Brickell) – Brickell
- E11even Residences Beyond – Downtown Miami
- The St. Regis Residences – Brickell
- Seville-inspired Gables Village – Coral Gables
- 888 Miami (previously MAJOR) – Brickell
- Lofty Brickell – Brickell
- Meruelo Family Eyes Casablanca Condo-Hotel - North Beach
- Mexican Restaurateur Sells Development Site For $21m – Edgewater
- Port Royale – North Beach
October 2022 - Miami Pre-Construction Condo Market - Sales Launched
Groundbreaking – Q4 2022 | Completion – N.A.
After the successful sell-out and groundbreaking of the first La Baia residences, developer Ian Bruce Eichner’s Continuum Co. has launched sales for its second tower – La Baia North. Located at 9481 East Bay Harbor Drive, the waterfront La Baia North will feature 57 luxury residences along with for-sale boat slips at its private marina.
Designed by Miami’s Revuelta Architecture, the boutique bayfront tower will offer interiors by Durukan Design with pool design and landscaping by the renowned C. Wright Studios. Boasting expansive, open floor plans starting at 1,400 square feet, the residences will feature refined touches like European wide-plank wood flooring throughout, exquisite kitchens with custom European cabinetry, a den/home office with attached full bath, and more.
Affording residents more than 20,000 square feet of resort-style amenities, La Baia North will also feature a pool deck, heated soaking spa, a rooftop kid’s splash pad, hanging nest swings for kids, outdoor play tents, a sunset lounge with a fire pit, and watersports equipment. There will also be a residents’ club room, dock-side pick-up/drop-off area, dockside lawns with waterfront seating areas, plus a residents’ Tesla program and Tesla House Car.
Prices start at $1.3 million, with a choice of two- to four-bedroom residences.
Groundbreaking – Q3 2023 | Completion – Late 2026
Launching sales for the first-ever, ultra-luxury high-rise residential tower partially powered by solar energy, developer Ytech revealed The Residences at 1428 Brickell this October. With Cosentini Associates as its solar energy consultant, the condo tower will feature a 20,000-square-foot “solar backbone” on its western façade, capable of generating 170 megawatts of clean energy per year. This should help reduce about 4,700 tons of CO2 and save about 3,000 barrels of oil per year.
Designed by Italian starchitects Antonio Citterio & Patricia Viel (ACPV Architects) in association with Arquitectonica, The Residences at 1428 Brickell will rise 70 stories with 189 limited-edition residences. Featuring a flowing, nature-inspired design, the bayfront tower will feature expansive floorplans balanced for day- and night-time use as well as socially-charged and private settings.
Besides boasting sublime, earthy interiors by ACPV Architects, all residences in this LEED-certified tower will be plus-den. In a nod to its environment, each exquisite residence will open up to expansive water views, feature 11-foot-high ceilings, and floorplans designed to draw in maximum natural light.
Built around the resident, amenities at this high-design tower will include a 7th-floor resort deck with two pools and aquatic therapy, a children’s splash pad, a club bar and lounge, a teen’s sports simulator, a children’s interactive playground and creativity room, a children’s learning center, a cinema room, 10,000 sq. ft. of dedicated gym and spa space, a wellness concierge, a golf simulator, beauty suite, barbershop, plus an outdoor sun terrace with yoga pavilion. There will also be a two-story owners club and rooftop observatory, a double-height wine and spirits lounge, a two-story atrium with lush planting, a rooftop lounge bar, plus a library lounge with tea, coffee, and champagne.
For detailed information on the exquisite, solar-powered, ultra-luxury Residences at 1428 Brickell, go here.
Prices range from $2 million to $7 million, with a choice of 2- to 4-bedroom plus den residences, including a Penthouse Collection priced from $8 million to over $40 million.
Adding yet another remarkable high-rise condo to Miami Worldcenter’s collection of future-ready residential towers, co-developers Aria Development Group and Merrimac Ventures launched sales for 600 Miami Worldcenter. With a name reflecting its address, the luxury tower will feature absolutely no rental restrictions.
Designed by Revuelta Architecture International, the sophisticated tower will rise 32 stories with 579 fully furnished residences. Interiors are being handled by The Design Agency. Amenities expected of this Airbnb-ready condo tower include a resort-style rooftop pool, a bistro and bar by GPG Hospitality (one of New York City’s premier restaurateurs), an artfully designed residential lounge, world-class fitness center with outdoor private training area by Homage fitness, summer kitchens & entertainment spaces, plus dedicated co-working spaces.
Prices start from the $400,000s, with a choice of studios to 2-bedroom residences.
Groundbreaking – N.A. | Completion – 2024
Miami-based developer Terra Group and renowned international brand THE WELL celebrated the launch of their wellness-centric luxury residences this October. The Well Bay Harbor Islands will be a 55-condo, luxury mixed-use building designed to help residents refocus on what matters most – their well-being.
Designed by Arquitectonica, the bespoke building will feature a certified Florida Green Building Design enhancing sustainability. With interiors by the New York-based Meyer Davis Studio, residents will come home to a restorative environment supported by high ceilings, natural light-filled layouts, aromatherapy diffusers, a meditation corner, Kore™ Workstation Kitchen Sinks, Sub-Zero and Wolf appliances, a built-in wine fridge, rain showers and stone floors in the primary bath, and much more.
Boasting 22,000 square feet of amenities, the building will feature subtle aromatherapy throughout, restorative water features, and wellness products curated and provided by THE WELL practitioners. There will also be a rooftop pool deck with summer kitchen, a cozy reading room and tea lounge, dedicated children’s programming and wellness activities, a dedicated boardroom, exclusive access to a private beach club, membership to THE WELL Bay Harbor Islands, access to the latest in wellness tech in THE WELL Locker, and an electric house car.
The mixed-use community will also feature 101,805 square feet of commercial office space, 10,888 square feet of retail, and 6,581 square feet of food & beverage space, complete with parking, and an elevated plaza.
Prices range from $1.2 million to $5 million, with a choice of 1- to 4-bedroom residences.
Groundbreaking – NA | Completion – Fall 2023
Launching Coral Gables’ first luxury condo building approved for Airbnb-style short-term rentals, Roger Development Group revealed The Avenue residences this October. For utmost owner convenience, the building will also house a short-term rental management office on-site.
Designed by Bermello Ajamil & Partners, this stately building will rise 9 stories with only 54 luxury residences. All residences will be delivered fully furnished with interiors by the Adriana Hoyos Design Studio. Built using green building tech, the residences will further feature luxurious and thoughtful layouts, 9 to 11-foot ceilings, and options for porcelain flooring, baseboards, plus designer paint.
Located right across from Merrick Park Mall, The Avenue will offer amenities such as an artfully landscaped pool deck on Level 9, poolside lounge chairs and daybeds, a hammock garden, an outdoor rain shower, summer kitchens and family dining area, plus 3,536 square feet of ground-floor luxury retail space.
Prices start in the low $700s for a one-bedroom residence, while two-bedrooms start in the higher $900s.
Launching a limited-edition collection of beach homes, Rene Gonzalez Architects brings a bespoke community “grounded by nature, uplifted by light” to Surfside’s waterfront. With residences starting at 3,460 square feet and an additional 2,000 square feet of private outdoor living space, this timeless collection aims to deliver a home in perfect harmony with the splendor of its environment.
Each of these eight luxury residences will feature a distinctive layout and personality. All residences will boast their own expansive rooftops complete with plunge pools, summer kitchens, verandas, an enclosed entry garden with a reflecting pool, and breathtaking views.
Prices start at $5.9 million, with a choice of 3 to 5-bedroom beach homes.
Groundbreaking – October 2022 | Completion – 2026
Breaking ground this October, Waldorf Astoria is on its way to soar to new heights as Miami’s first-ever supertall is under construction. Garnering over $1 billion in sales, the condo-hotel is now 87% sold and is on its way to rising to a height of 1,049 feet.
Designed by the world-famous Carlos Ott in association with Sieger Suarez, the 100-story supertall will look like a staggering stack of nine glass cubes. Home to a total of 306 condos and 205 hotel rooms, it will feature the hotel suites in its bottom 3 cubes and condos plus amenities in the upper 6.
The all-glass skyscraper will further feature interiors by San Francisco’s award-winning BAMO. Residents will enjoy coming home to fully finished units with gourmet kitchens, custom Italian cabinetry hand-picked by BAMO, a high-end appliance package, fully built-out closets, flooring selections recommended by BAMO, Savant premium smart-home tech systems with custom mobile app access, and much more.
Amenities at the ultra-luxury supertall will include an immersive, resort-style pool with outdoor café and cabanas, Waldorf’s famous Peacock Alley lounge, a signature restaurant, an all-day dining brasserie, fitness center with private training studios, signature spa, private wine tasting room, owner’s lounge with billiards, a kids’ club, preferred rates and access to the hotel’s services, and more.
For more information on Waldorf Astoria’s storied brand and what it expects to deliver in its 100-story supertall, go here.
Prices start at $650,000 for Junior Suite Residences, $1 million for a 1-bedroom, $1.7 million for a 2-bedroom, $3,100,000 for a 3-bedroom, and $4,900,000 for a 4-bedroom residence.
October 2022 - Miami Pre-Construction Condo Market - Approved
Approved for conditional use, Tal Aventura will rise 26 stories with 86 “family-focused” condos at 2785 N.E. 183rd St. Co-developed by 2151 Development Group and 2020 Acquisitions, the condo residences are meant to fill the gap for a single-family home lifestyle marketed at an attainable price point.
Designed by Miami-based Idea Architects, units will range from 2,500 to 3,500 square feet, with penthouses spanning over 6,000 square feet. With more than 50,000 square feet of amenities and green spaces, Tal Aventura plans to feature a pool, a splash pad, a yoga studio, a gym, a basketball/pickleball court, a coffee/juice bar, a toddler playroom, and more. Sales are expected to launch before the end of the year.
Mixed-use Project Replacing WSVN Studios – North Bay Village
Developer Sunbeam Properties won approval for its highly ambitious, 7.3 million-square-foot mixed-use development replacing the WSVN Studios this October. Designed by Miami-based Plusurbia, the development is envisioned as a “15-minute city,” with essential needs within walking distance.
The 12.9-acre site will be home to 8-10 towers rising up to 650 feet, inclusive of 1,936 residential units (including 117 workforce housing units), a 300-room luxury hotel with observation deck, 200,000 square feet of Class A office/retail space, 670,000 square feet of commercial and retail space, a small production studio for WSVN, marina, and 5,000 parking spaces. There will also likely be a baywalk along the waterfront called Island Walk.
October 2022 - Miami Pre-Construction Condo Market - Planned/Proposed
Submitting plans to Bal Harbour’s Architectural Review Board this October, co-developers Related Group and Two Roads proposed building The Residences of Bal Harbour to replace the beachfront, 1956-built Carlton Terrace condos. Designed by New York’s Skidmore, Owings & Merrill in collaboration with CFE Architects in Miami Lakes, the new luxury tower will rise 24 stories with 61 spacious condos.
Taller than the 88-unit Carlton Terrace and with fewer units, the residences in this new luxury building would be larger, as floorplans start at a massive 3,222 square feet. There would also be a two-level basement housing 160 parking spaces along with the luxury tower’s private spa.
Amenities at The Residences of Bal Harbour would include a rooftop pool, two pools on the ground floor, a fitness center, pickleball and pebble ball courts, a virtual reality room, plus a restaurant.
The Edge/The Cove – Edgewater
Developers SB Development and Hazelton Capital Group have revealed more details for their proposed boutique condo at 480 NE 29th Street. Sitting adjacent to the Icon Bay condo tower, the 37-story tower will feature 96 condos, three levels of amenities, 5,373 square feet of ground-floor commercial space (restaurant), and 142 parking spaces.
Designed by Kobi Karp in collaboration with Dieguez Fridman of Argentina, the residences will be fairly large, ranging from 1,233 square feet with two bedrooms to 2,886 square feet with three bedrooms. There would be no more than 3 units per floor to maximize water views.
The amenities in this waterfront boutique tower would be laid out on floors 6 through 8, including a pool and indoor amenity spaces. There would be a large health and wellness center, a spa with a wet and dry hammam (Turkish bath), float therapy pools, a yoga room, a theater-style spin room, a rooftop pool, a large business center with private office suites, conference rooms, plus coworking space. The developers will also undertake to complete a missing link in the City of Miami’s baywalk.
Prices expected to range from $1 million to $3 million.
22 East Flagler – Downtown Miami
Expected to deliver a mix of retail, office, hotel, and residences to East Flagler, Aetna Realty will be developing multiple towers at 22 E Flagler St. The former Burdines could be developed into two adjacent 50-story or 55-story towers on either side of the building. More details are expected soon.
Mixed-use Condo Tower – Edgewater
A group of four developers plans to build a 44-story, mixed-use condo tower on the southwest corner of Biscayne Boulevard and Northeast 34th Street. The one-acre community would feature 172 condos, 100,000 square feet of offices, 10,000 square feet of retail, and a 420-space garage. It is expected that three-quarters of the units will be 3-bedroom residences priced at $1.5 million, and the remaining will be 2-bedroom condos priced at $1 million.
The team of developers includes Karl-Ulrich Ansorg, Yakov Elbaz, Ofir Gabriel, and Amit Kort. Acting via Tulip Developments Group, the six-lot assemblage at 234-264 Northeast 34th Street cost the developers $16.5 million.
Alhambra Park – Coral Gables
Groundbreaking – NA | Completion – Winter 2026
Partners Miami-based MG Developer and Peru-based VYV have proposed an 11-story condo to the city’s Development Review Committee. Situated on a triangular block, Alhambra Park would feature 80 condos, 13,000 square feet of live/work retail space, and 180 parking spaces.
With units starting ranging from 1,028 to 3,366 square feet, Alhambra Park will offer a choice of 22 one-bedroom units, 22 two-bedroom units, and 28 three-bedroom units. Amenities are likely to include a fitness center, a pool with cabanas, and a recreation room. The developers will also likely keep the historic building on Navarre Avenue and further build a 5,885-square-foot public park at the corner of Galiano Street and Navarre Avenue.
Continuum Co’s Condo Development – North Bay Village
After the successful launch of both La Baia residences, developer Ian Bruce Eichner’s Continuum Co. is looking to convert a parking lot into a luxury condominium. With the 1.34-acre site at 1755 79th Street/Kennedy Causeway under contract, Continuum Co. plans to build a 30-story, 201-unit condo tower with a 13,415-square-foot restaurant, a 1,700-square-foot juice bar, and 384 parking spaces (of which 24 will be for EV charging) on the site.
The project is further expected to have 24 one-bedroom units, 135 two-bedroom units, 30 three-bedroom units, and 12 four-bedroom units. Amenities will likely include multiple pools, a party lounge, a fitness center, and a game room.
Alchemy-ABR Investment Partners’ Residential Project – Wynwood
The New York-based real estate development and investment firm, Alchemy-ABR Investment Partners closed on a development site at 18 NW 23rd Street for $18 million this October. Representing the firm’s first residential project in Florida, the mixed-use site will feature a 12-story luxury residential building with 186 units, multiple retail spaces, and a parking garage. With construction expected to start in 2024, Arquitectonica and MKDA have been tapped for design duties. It is yet to be seen whether the units will be developed as rentals or condos.
October 2022 - Miami Pre-Construction Condo Market - Construction Updates
Groundbreaking – May 2020 | Completion – May 2024
As construction passed level 5 at the nautically-inspired Una Residences this October, it added another feather to its hat with its tri-level penthouse setting a new sales record by selling for $17.75 million. Developed by OKO and Cain International, the ultra-luxury Una features designs by the award-winning Adrian Smith + Gordon Gill Architecture (AS+GG). Boasting Miami’s deepest-ever parking garage - 3 stories below sea level – the waterfront tower will rise 47 stories with 135 stunning residences.
Besides sweeping city and water views, the ultra-luxury condo tower will offer amenities like three swimming pools, a separate kids’ splash and play area, an owner’s lounge, outdoor lounge, a private dining room/party room, a kids’ indoor playroom, a movie theater, spa, beauty salon, high-efficiency, noise-reducing floor-to-ceiling exterior glass, a dog-walk area, private marina, direct access to the Baywalk, and more.
Read here to find more details on one of South Brickell’s most ambitious waterfront projects - the maritime-inspired Una Residences.
Prices for remaining units start at $3.5 million.
Deauville Resort Redevelopment by Frank Gehry – North Beach
After being demolished this last weekend, November 13, but rejected by voters on November 6th, the Deauville Resort site is in limbo its iconic redevelopment. Built in 1957, the 540-room Deauville was shut down after an electrical fire broke out in 2017.
Developer Stephen M. Ross, the billionaire owner of the Miami Dolphins, purchased the historic hotel contingent upon being able to replace it with two ultra-luxury condo-hotel towers designed by New York’s legendary architect, Frank Gehry. The new designs released earlier this year paid homage to the original Deauville, however the density increases required to build the project was not approved by voters. The oceanfront site will feature a 175-unit hotel (likely Equinox-branded) plus 125 luxury condo residences.
Baccarat Residences (previously 444 Brickell / One Brickell) – Brickell
Groundbreaking – Fall 2022 | Completion – Fall 2025
With about 150 archaeologists digging the site daily, developer Related Group is looking to speed up construction on one of its most luxurious projects of all time. The ultra-luxury Baccarat will be the first in a three-tower complex. Tower II is proposed to rise 897 feet above ground with 506 rental apartments. Tower III is planned to rise 82 stories with a 249-room five-star hotel plus 103 residential units. All in all, the riverfront complex is expected to house 1,400 residences, a 249-room five-star hotel, and 24,463 square feet of retail.
Already approved for a height of 828 feet above ground, Related Group has proposed building the luxury tower to an increased height of 848 feet above ground. Designed by Arquitectonica, Baccarat Residences is planned to rise 75 stories with 318 luxury residences, 28 riverfront flats and duplexes, and a 10,000-square-foot restaurant. The riverfront tower will feature an undulating façade as reflective as French crystals. Managed by Barry Sternlicht’s SH Hotels & Resorts, each of its luxury condos will boast high-end interiors by Meyer Davis Studio, characterized by a unique blend of 18th-century Paris, 21st-century Miami, and 1930s Art Deco influences.
Amenities at this waterfront tower will include a marina with yacht dockage, a luxury house yacht, plus a riverfront restaurant. Other amenities will include a pool, game room, spa, beauty salon and barber, wine cellar, children’s playroom, clubroom, grand salon for events, private workspaces, business center, and more.
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.
Groundbreaking – 2022 | Completion – Summer 2025
Moving closer to breaking ground, demolition and site prep began at the highly anticipated E11EVEN Residences Beyond site in Downtown. Boasting the same team as its sister tower, E11even Residences Beyond will be designed by Sieger Suarez Architects, sharing the same all-glass structure. This highly exclusive twin to E11even Hotel & Residences will feature 461 ultra-luxury fully furnished residences. New York’s award-winning AvroKo Hospitality Group will be handling interiors. Each turnkey residence will feature flooring selections curated by AvroKo, custom imported ITALKRAFT millwork and cabinetry, custom countertops & backsplashes, PMG's smart home technology system, and more.
Offering a highly exclusive, “members-only” experience, Beyond residents will gain access to the E11even Hotel and Residences’ amenities via a one-way-only access-controlled sky bridge. Exclusive amenities will include a rooftop helipad, resort-like sun lounge deck with a 93-foot pool, fully-staffed executive office suites, access to the E11EVEN Residences Beyond Members Social Club, and more.
Owners at this second tower will also be allowed short-term rentals with a minimum restriction of 30 days. Read more about the location, building amenities, and features of the crypto-friendly E11even Residences Beyond, here.
Read more about the residential features and building amenities at the fully sold-out E11even Hotel & Residences here.
Prices start in the mid $300,000s or equivalent cryptocurrency rate, with a choice of studios to two-bedroom residences, penthouses, and a presidential collection.
Groundbreaking – Q4 2022 | Completion – Late 2026
Owing to demand for bigger residences, developers Related Group and Integra Investments have downsized this landmark project. Planning to build only The Astor Tower (East) and scrapping the west tower altogether, the developers are redesigning floorplans with a 10% increase in square footage. The amenities and common areas will also benefit from increased square footage under this pivotal change.
Selling at break-neck speed, the St. Regis Residences towers had already reserved over $600 million in pre-sales over the past 6 months. Designed by New York’s award-winning Robert A. M. Stern Architects, the Astor tower will rise 48 stories with 150 luxury residences. The nautically-inspired tower will be positioned to afford the most expansive water and city views possible in Brickell. New York’s award-winning Rockwell Group will still be handling interiors.
Offering 60,000 square feet of amenities, The St. Regis Residences will remain purely residential, meaning there will be no hotel or transient use allowed on site. Residents will gain access to St. Regis’ storied 5-star services, including an iconic St. Regis Tea Room, Cognac Room, and signature butler service. Other notable amenities include a private marina, exclusive beach club access, indoor lap pool, spa, beauty salon, curated wellness programming, park-like grounds by Enzo Enea, children’s entertainment room, teen video game lounge, golf simulator, a pet spa, electric vehicle charging stations, a luxury house car, and much more.
Prices start at $1.5 million, with a choice of one- to seven-bedroom residences.
Groundbreaking – 2022 | Completion – 2024
Closer to breaking ground and on the heels of opening its on-site sales gallery, new renderings of the timeless architecture and natural light-filled homes at Gables Village were released this October. To be built as a tribute to George Merrick’s legacy, MG Developer’s village will comprise of duplexes, townhouses, and condos set through 17 lots at 535 Santander Avenue. The Seville-inspired village will also feature tree-lined streets, plazas, fountains, and parks.
Designed by De La Guardia Victoria Architects & Urbanists, Gables Village will be built in the Mediterranean Revival style of architecture, with its tallest building topping off at four stories. The $50 million village will be bordered by gardens inspired by the alcoves in the Plaza de España. With residences built for modern-day comforts, each 1,750 to 3,100-square-foot unit will come elegantly appointed with luxurious touches. Amenities at this lavish project will also include a pool, a wellness center, and a multipurpose room.
Groundbreaking – Early 2023 | Completion – NA
After the exit of Major Food Group, developer JDS Development has filed revised plans for 888 Miami. With the revisions, the supertall will now feature 52,144 square feet of health/fitness space, 38,727 square feet of food and beverage space, and approximately 273 parking spaces. Designed by Studio Sofield in collaboration with ODP, the condo-hotel will boast of Miami’s first-ever silver and gold pool.
Rising to a height of 1,049 feet, 888 Miami will feature 259 luxury residences in 82 stories. Vying for the “tallest in Miami” tag, the condo-hotel will be built to emulate Gatsby-style energy and exuberance. Everything from its gold leaf-trimmed porte cochere to monolithic travertine slabs, will hold to its 1920s architectural narrative. Standing out amongst its glass and stucco neighbors, the tower will also feature an ivory travertine façade, high-gloss steel columns, plus a crown wrapped in a filigree of gold spheres with Italian Futurism sculptures on each corner.
Amenities at this extravagant tower will include residential furniture custom-designed by Studio Sofield, multiple food and beverage concepts, a 35th-floor pool and party room, wine storage, a cigar room, event spaces, and three floors dedicated to sports and wellness – inclusive of a spa with mineral pool and champagne pool, a paddle court, a boxing area, an F1 simulator, plus a golf simulator. There will also be a special “lockout” function, allowing residences to transform seamlessly into guest rooms and/or suites.
Prices will range from $1.6 million to $11 million, with a choice of one- to four-bedroom residences.
Groundbreaking – Q4 2022 | Completion – 2024
With demolition work already underway, developer Newgard Development Group added three more parcels to its site to serve as a gateway to the riverfront development. The developer also obtained FAA approval to build Lofty Brickell to a height of 574 feet above ground.
Lofty Brickell will be the first of three towers planned for the waterfront site. Together, the towers will house 782 apartments, 11,364 square feet of a full-service restaurant, and 13,928 square feet of office space.
Designed by Arquitectonica, the minimalist, postmodern tower will rise 42 stories along Brickell’s stunning riverfront. Built using green building tech, the tower’s 364 fully furnished condos will feature high-end interior touches curated by INC.NY. Owners at Lofty will be allowed short-term rentals.
Amenities at the luxury tower will include a “jewel box” double-height glass lobby with access to the Underline, 12,000 square feet of commercial space, and a private marina. Other key amenities will include a resort-style pool with cabanas, a poolside bar and grill, a LOFTY rooftop experience, a fitness center with private Peloton studios, a yoga lounge and terrace, a ground-level 5-star restaurant, an indoor/outdoor cigar lounge, co-working lounge with private meeting rooms, event room, access to the LOFTY concierge app, and more.
For more information on Lofty Brickell and its short-term rental investment opportunities, read this.
Prices start at about $500,000 for studios, $554,000 for one-bedrooms, and $903,000 for two-bedroom residences.
October 2022 - Miami Pre-Construction Condo Market - Watchlist
Meruelo Family Eyes Casablanca Condo-Hotel - North Beach
Listed on the market just last month, the Meruelo family (owners of the Deauville North Beach) has already expressed interest in the purchasing the oceanfront Casablanca. Offering $200 million for the historic resort, the family has put their plans on hold until a referendum increasing the floor-to-area ratio (FAR) at the Deauville redevelopment site is approved. (Read more details on the Deauville-related referendum here).
Located at 6345 Collins Avenue, the ripe-for-redevelopment property sits along 260 feet of ocean frontage. Built in 1948, the historic condo-hotel features around 350 residential and commercial units. The Roy France-designed Casablanca is marked as a contributing structure to the North Beach Resort Historic District, which protects it from demolition. The post-war condo-hotel can only be demolished only if it wins a five-seventh vote from the Miami Beach Historic Preservation Board.
Regardless of the referendum, any buyer of the Casablanca can add FAR totaling 45,000 square feet and an additional height of up to 200 feet, pending approval from the historic preservation board.
Mexican Restaurateur Sells Development Site For $21M – Edgewater
Restaurateur Juan Carlos Cachoua completed the sale of his 41,554-square-foot property at 2699 Biscayne Blvd., 330, 346, and 404 N.E. 27th St., plus 347 N.E. 27th Terrace for a combined $20.49 million in four deeds.
Purchased by Mesquita Properties LLC, the parcel has major development potential, since it is zoned to carry 143 residential units or 285 hotel rooms in up to 36 stories. The site is currently home to a ‘70s retail building, a 4-unit apartment complex, and a single-family home.
Port Royale – North Beach
Ordered for an emergency evacuation owing to structural damage to its main beam, the Port Royale condo tower is undergoing major repairs. Considering the recent sales of 15 condos in the building and its impending repair bill and recertification, it won’t come as a surprise if this oceanfront condo tower lands up on the market or is scooped up in a bulk buyout deal. The aging tower sits beachfront at 6969 Collins Avenue.
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