Sizing Up New Miami Condos - In Downtown and Nearby

New Miami Condos

Miami is back and in a big way! With developer confidence high, rumor has it there are 100 new condo projects on the drawing board or under construction. Who could argue, folks love owning new homes and from a bird’s eye view, Miami offers some of the world’s best million dollar views. Views of Biscayne Bay with yachters and boaters playing around the islands and views of the blue green Atlantic Ocean off in the distance. Whether it’s day time or night time, the eye candy of Miami is priceless.

What’s different this time in comparison to the Miami condo boom of 2006? 50% upfront deposits and the balance due at closing. Not that financing is not available in the market place but developers don’t want to be left this time holding the bag. Pre-construction sales first may dictate when and if a building goes up at all. Gone are the days of concrete facades and balconies. Taxi's and the Metro are the way of the future for Miamian's living in downtown. Floor to ceiling glass, spacious glass balconies, smart technology buildings and contemporary decor are the staples of today in the Miami Riveria.

New Miami condominiums are commanding a premium so square footage is important to understand, the interior square footage that is because it’s the most important factor in an appraisal and for re-sale.  Be aware that many of the new condominiums we listed below have not broken ground which means the floor plans could change and the pricing can change at any time on any building.

If you love to shop, near the Brickell City Centre is where you’ll want to live. If you enjoy the performing arts, the Arts & Entertainment District may be perfect for you. If you’re looking for waterfront bargains, East Edgewater is where you’ll find the biggest bang for your buck. Some of the real estate developers offer handsome real estate commissions to brokers so be sure to see and compare more buildings than what your broker’s telling you about. 

Here’s a sampling of sixteen sweet new Miami condo projects in the downtown Miami area. Rumor has it 80% of the purchases are from foreigners seeking a safe haven for their equity. The other 10% is from New Yorker’s and the rest from locals. We found a number of real estate developer websites malfunctioning and most with incomplete information beckoning you to call them. We put this list together to help you sort through the myriad of choices ahead of time, to give you an idea of a some of your choices and questions to ask. This list is in price per square foot order (from lowest to highest in a specific price range). The average HOA fee per square foot is about $.60 to $.70 cents per month.

If you’re searching for a new Miami condominium, ask us to introduce you to our trusted colleague who can show you any of these buildings and more.

More things to consider when purchasing a pre-construction condo:

  • Seek legal counsel to protect your deposit as best you can. Developers may be attempting to fund the construction with your deposit.
  • Be aware of empty space and future obstructed views 
  • Consider parking limitations and pet rules
  • Consider valet requirements and rules
  • Consider rental rules and restrictions
  • Understand HOA fees, membership dues & assessments
  • Be aware direct sunrise and sunset views are hot and blinding during the peak times. Angled views to the north or south are better for climate control and for your personal enjoyment.

NEW MIAMI CONDOMINIUMS UNDER $500K

BISCAYNE BEACHES - East Edgewater, Real Estate Developer: Eastview Development and GTIS Partners, Height: 51 Stories / 399 Units, Status: Under construction, completion 2016, Starting Square Foot Price: $441

Built on the shore of the Biscayne Bay, this 399 unit waterfront Miami condo building is poised to offer some of the most stunning waterfront views of Miami. Biscayne Beach also has plans to create Miami’s Zen-like first man-made beach club on Biscayne Bay. The building will offer 1 to 4 bedroom units with floor to ceiling glass and oversized balconies to maximize the million dollar views. Biscayne Beaches planned amenities include a 6th floor amenity level with swimming pool, cabanas, ball courts and a dog park. The Beach Club level with feature a resort-style swimming pool and waterfront cabanas. 

  • One bedroom units range from 905 to 1,154 interior square feet
  • Two bedroom units range from 1,167 to 1,705 interior square feet
  • Three bedroom units range from 1,807 to 2,643 interior square feet
  • Priced from the $400k’s to over $1 million

ARIA ON THE BAY - Downtown Miami, Real Estate Developer: Melo Group, Height: 53 Stories / 647 Units, Status: Ground breaking 2015, Starting Square Foot Price: $450

One of the sleekest designs we’ve seen, Aria on the Bay is at an excellent location set on the shore of the Biscayne Bay and tucked in the middle of the Arts & Entertainment District. With floor to ceiling glass, the views to the east are among the most beautiful in the world! Views across the bay of the Venetian Islands, Star Island, Miami Beach and the Atlantic Ocean. Of the 647 units, units on the upper floors will have private elevators. Aria on the Bay amenities planned include two swimming pools, one on the east side of the building and one on the west side along with a fitness center, spa. This waterfront Miami condo offers an excellent value considering its location.

  • One bedroom units range from 880 to 1,038 interior square feet
  • Two bedroom units range from 1,306 to 1,394 interior square feet 
  • Three bedroom units range from 1,819 to 2,365 interior square feet 
  • Priced from the mid $300k’s to over $1.4 million

CASSA BRICKELL - Downtown Miami, Real Estate Developer: TSG Paragon Development, Height: 10 Stories / 81 Units, Status: Ground breaking 2015, Starting Square Foot Price: $458

Located on the south side of Brickell, Cassa Brickell’s modern design is set to offer 22 different floor plans with spacious balconies. 81 residences are planned. Residences include 1 to 3 bedroom units, townhouses and penthouse units. Planned amenities include a rooftop amenity deck with an infinity pool, fitness center and community garden.

  • One bedroom units ranging from 763 to 780 interior square feet
  • Two bedroom units ranging from 1,014 to 1,153 interior square feet
  • Three bedroom units ranging with 1,350 interior square feet
  • Prices anticipated to be from the mid $350k’s up to $950k

NINE AT MARY BRICKELL VILLAGE - Downtown Miami, Real Estate Developer: Starwood Capital and Lynd, Height: 35 Stories / 390 Units, Status: Under construction, completion winter 2014, Starting Square Foot Price: $475

Nine offers sweeping city views and contemporary residences in the heart of Brickell adjacent to the Metro and dozens of restaurants, stores and the 36,000 square foot L.A. Fitness Club. The 11th floor pool deck at Nine at Mary Brickell Village features a swimming pool, garden and enclosed dog run. Club members will have access to the 15,000 square foot Grand Bay Beach Club on Key Biscayne.

  • One bedroom units range from 744 to 1,020 interior square feet
  • Two bedroom units range from 1,173 to 1,501 interior square feet
  • Three bedroom units with 1,596 interior square feet
  • Priced from the $397k

BRICKELL HEIGHTS - Downtown Miami, Real Estate Developer: Jorge Perez, The Related Group & Crescent Heights, Height: 48 Stories / 698 Units, Status: Under construction, completion 2016, Starting Square Foot Price: $477

The two chic Brickell Heights towers are to be built in the heart of Brickell and are comprised 698 units. Amenities include a 35,000 square foot Equinox fitness center, four swimming pools (8th floor & sky pool), community garden, retail stores and businesses on the first floor. Brickell Heights units range from 700 to 2,300 square feet. Prices are in mid $400k’s and up to $1.2 million for the 30 penthouses.

CENTRO - Downtown Miami, Real Estate Developer: Newgard Development Group, Height: 37 Stories / 352 Units, Status: Under construction, completion December 2015, Starting Square Foot Price: $650

Centro is a 352 unit loft designed building planned to offer fantastic city and partial bay views. Its location is appealing because of being with walking distance of Miami Dade College, the Metro Rail, the top Miami arts and entertainment venues such as Olympia Theatre, James L. Knight Center, AA Arena and more. Centro features 10 foot high floor to ceiling windows. Amenities include a skyline lounge, first floor restaurant, outdoor pet area, and two story penthouse recreation area with health club & spa and a pool with 360 degree views.

  • One bedroom units range from 500 to 691 interior square feet
  • Two bedroom units range from 822 to 1,131 interior square feet
  • Prices anticipated to be from the low $300k’s to the mid $500k’s 

NEW MIAMI CONDOMINIUMS STARTING FROM $501K to UNDER $2 MILLION

BAY HOUSE MIAMI - East Edgewater, Real Estate Developer: Melo, Height: 38 Stories / 164 Units, Status: Under construction, completion December 2014, Starting Square Foot Price: $312

Showcasing million dollar views of Biscayne Bay, Bay House Miami is a stunning new Miami condo in the newly posh East Edgewater neighborhood. Per square foot prices are the lowest we’ve seen at $312! Could it be because of possible future development and obstructing the views? We’re not sure. Floor to ceiling windows and spacious balconies unquestionably capture the scenic beauty. Amenities include a sky pool deck, roof top swimming pool, social lounge and media room, fitness center and children’s play room. The Miami Arts & Entertainment District is within a mile of the building.

  • Two bedroom units range from 1,601 - 1,646 interior square feet
  • Three bedroom units range from 1,601 - 1,725 interior square feet
  • Priced from $500k - $2.3 million​

THE ION - East Edgewater, Real Estate Developer: Sakor Development, Height: 36 Stories / 330 Units, Status: Ground breaking 2015, completion in late 2016, Starting Square Foot Price: $451 

Bargain hunters may want to check out Miami’s hottest new neighborhood, Edgewater. The area is located just north of the arts and entertainment district. This new Miami condominium features 330 units from 1-3 bedrooms. The 37th floor Sky Deck will offer panoramic views of the city, bay and the ocean as well as an infinity pool, owners sky bar, lounge and terrace. The Ion's 8th floor will feature a second pool, outdoor living rooms, cabanas, firepit, and “Dive-In” theater. A community garden, cascading waterfall and summer kitchen with chef’s table add to the ambiance. 

  • One bedroom units range from 720 to 830 interior square feet
  • Two bedroom units range from 1,203 to 1,451 interior square feet
  • Three bedroom units range from 1,695 to 1,803 interior square feet
  • Prices from the low $300k’s to $1 million

ONE PARAISO - East Edgewater, Real Estate Developer: The Related Group, Height: 53 Stories / 276 Units, Status: Under construction, completion scheduled for 2017, Starting Square Foot Price: $480

A cutting edge contemporary new Miami waterfront condo designed to maximize the million dollar views of the Biscayne Bay with floor to ceiling windows and spacious balconies. There are three hi-rise buildings planned for this land parcel. One Paraiso planned amenities include a 10th floor deck with swimming pools, spas, cabanas, outdoor cardio park and jogging path. Also planned an exclusive beach club, marina, bayfront restaurant, five tennis courts and more swimming pools.

  • One bedroom units range from 750 to 885 interior square feet
  • Two bedroom units range from 1,068 to 1,225 interior square feet 
  • Three bedroom units range from 1,261 to 1,287 interior square feet
  • Priced from $360k

EDGE ON BRICKELL - Downtown Miami, Real Estate Developer: Rafael Aragones, Height: 58 Stories / 431 Units, Status: Ground breaking 2015, Starting Square Foot Price: $492

Bordering the Miami River, the Edge on Brickell is set to become a landmark Miami condominium building. From the first floor to the sky, the exterior of the building is a work of art in itself, adorned with a 600 foot tall mural designed by internationally acclaimed artist Jan Hendrix. The 130 boutique sky residences feature 9-10 foot ceilings with floor to ceiling glass and stunning views of the Miami River and city skyline. All residences will have LEED silver rating. The Edge on Brickell is conveniently located walking distance to the Brickell City Centre, Miami’s newest shopping venue. Planned amenities at Edge on Brickell include a 14th floor pool, fitness center, 300’ day dock on the Miami River, riverfront boardwalk and restaurant. 

  • Two bedroom units with 1,321 interior square feet
  • Three bedroom units with 2,271 interior square feet
  • Priced from the mid $600k’s to under $2 million

SLS LUX - Downtown Miami, Real Estate Developer: The Related Group, Height: 57 Stories / 450 Units, Status: Under construction, completion early 2017, Starting Square Foot Price: $500

Set in the heart of Brickell within walking distance of the Brickell City Centre, the colorful LED facade of the SLS LUX will command attention as well as the museum inspired interior common areas. The 450 unit luxury building is set to clearly cater to internationally owners who desire chic urban living and convenient access to Miami’s beaches. SLS Lux amenities include a private rooftop terrace with swimming pool, full concierge service and hotel amenities on the first 9 floors. 

  • One bedroom units range from 945 to 1,010 interior square feet
  • Two bedroom units range with 1,353 interior square feet
  • Three bedroom units range from 1,502 to 1,779 interior square feet
  • Priced from the low $500k’s to $1.2 million

RESIDENCES BRICKELL CITY CENTRE - Downtown Miami, Real Estate Developer: Swire Properties, Height: 41 Stories / 820 Units, Status: Under construction, completion fall 2016, Starting Square Foot Price: $574

For those seeking the ultimate in urban life, Residences Brickell City Center offers contemporary living in the heart of Miami at the fashion district. Residents will have access to more than a half million square feet of brand name stores connected to the building. Endless places to eat, explore and enjoy the Miam’s version of Manhattan including the convenience of being connected to the Metro. 

  • One bedroom units range from 871 to 1,040 interior square feet
  • Two bedroom units range from 1,385 to 1,526 interior square feet
  • Three bedroom units range from 1,799 to 2,740 interior square feet
  • Priced from the $500k’s to over $2 million

1010 BRICKELL - Downtown Miami, Real Estate Developer: Key International & 13th Floor Investments, Height: 50 Stories / 387 Units, Status: Ground breaking set for third quarter 2014, Starting Square Foot Price: $645

This sleek new Miami condo is designed with edgy exterior lines and soft earth tones inside. 1010 Brickell will be an urban oasis for families with young children. Planned amenities for kids include wet and dry play areas within a glass wall separation so parents can keep an eye of the kids. Wet areas include a swimming pool, water features and slides. Dry areas include a Nintendo station, foosball and tennis tables, rock climbing wall, ball courts and bowling. Adult amenities include a fitness center, spa, infinity edge swimming pool and jacuzzi overlooking Biscayne Bay on the 11th floor along with a roof top deck swimming pool, treetop lounge and jogging track. Units feature 9 foot ceilings, private elevators and east/west views. Set in the heart of Brickell, delicious restaurants, cultural venues and shopping are all within walking distance of the building. 

  • Studios with 646 interior square feet
  • One bedroom units range from 852 - 1,425 interior square feet
  • Two bedroom units range from 1,385 - 1,880 interior square feet
  • Three bedroom units range from 2,148 - 2,181 interior square feet
  • Priced from $550k - $3.5 million

THE BOND ON BRICKELL - Downtown Miami, Real Estate Developer: RILEA Group, Height: 44 Stories / 328 Units, Status: Under construction, completion 2015, Starting Square Foot Price: $940

Where British glamour meets Miami chic, The Bond featuring smart building technology will be centrally located on Brickell Avenue. Residents will be within walking distance of a variety of shopping, 27 world-class restaurants, 9 swanky hotels, 4 performing arts venues and the new Brickell City Centre. 328 residences are planned featuring 1-3 bedroom units with 9 foot ceilings, exclusive lofts and penthouses with 11 foot ceilings. The Bond amenities include a zero-edge lap pool, jacuzzi, Super Cabanas with outdoor living rooms and a fireplace, spa, fitness center and private owner’s lounge. The contemporary design features clean lines and open spaces. 

  • Studio units with 558 square feet
  • One bedroom units range from 783 to 960 interior square feet
  • Two bedroom units range from 1,212 to 1,219 interior square feet
  • Three bedroom units with 1,710 interior square feet
  • Priced from the low $500k’s 

NEW MIAMI CONDOMINIUMS OVER $2 MILLION:

ONE THOUSAND MUSEUM - Downtown Miami, Real Estate Developer: Regalia Group, Height: 62 Stories / 83 Units, Status: Ground breaking 2015, Starting Square Foot Price: $1,065

Boasting a six star property in Brickell overlooking Biscayne Bay, One Thousand Museum is set to combine luxury and glamour with trend setting, space age designs that will ultimately end up of the cover of a magazine. The building has massive open spaces for impressive art displays. This is the first purchasable Zaha Hadid designed property in the United States. For 30 years, Hadid has been pushing the limits of design while blurring the lines between art and architecture. East-to-west flow through floor plans range from 4,600 to 9,000 square feet and feature 10 to 20 foot ceilings with floor to ceiling window walls. Roof top amenities include an indoor aquatic center, sky lounge, community garden, event space and helicopter landing pad. The views 

  • Duplex Townhomes range from 8,061- 8,102 interior square feet
  • Half Floor Residences range from 4,599 - 4,822 interior square feet 
  • Full Floor Penthouse with 9,910 interior square feet
  • Duplex Penthouse with 15,207 interior square feet
  • Priced from $4.9 - $6 million

OCEANA - Bal Harbour, Real Estate Developer: Edwardo F. Constantini, Height: 28 Stories / 240 Units, Status: Under construction, completion fall 2016, Starting Square Foot Price: $1,250

240 flow-through residences with dramatic ocean and bay views. High end shopping and entertainment are less than a mile away. This beachfront Miami new condominium is a high-tech ‘smart building’ designed for contemporary living with 10 foot high  floor-to-ceiling glass and oversized balconies. The top three floor residences feature private elevators. Oceana is the first building in Bal Harbour to be LEED-certified (Leadership in Energy and Environmental Design) by beautifully balancing architecture and design with environmental conscience. Oceana amenities include two massive swimming pools, in-house spa and restaurant.

  • One bedroom units range from 1,600 to 1,500 interior square feet 
  • Two bedroom units range from 1,900 to 2,300 interior square feet 
  • Three bedroom units range from 3,500 to 6,000 interior square feet
  • Four bedroom units range from 6,000 to 9,300 interior square feet
  • Prices begin over $2 million

When you compare per square foot prices in 2012-2013 internationally against Miami, the Miami Riveria is still a bargain!

The price per square foot in US dollars from average sales between 2012-2013 were:

1. Monaco $4,988
2. London, UK $3,158
3. Hong Kong $1,919
4. Singapore $1,645
5. Geneva, Switzerland $1,601
6. Moscow, Russia $1,553
7. Paris, France $1,426
8. New York, USA $1,420
9. Tokyo, Japan $1,065
10. Stockholm, Sweden $888
11. Sydney, Australia $810
12. Rome, Italy $786
13. Toronto, Canada $770
14. Miami Beach, FL - USA $715
15. Beijing, China $689
16. Frankfurt, Germany $458
17. Miami, FL - USA $440
18. São Paulo, Brazil $399
19. Fort Lauderdale, FL - USA $305

(Source: globalpropertyguide)

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