Miami Preconstruction Condos
Miami preconstruction condos have received a tremendous amount of press coverage. Mostly written by staff writers for large papers like the Miami Herald who have little or no personal experience about investing in real estate. To fully understand the opportunity in preconstruction projects in Miami and to avoid the pitfalls of the Miami real estate market, please read the following and then contact the REALTORS at the Miami Condo Lifestyle team at 305-321-7043. We will help you separate the wheat from the chaffe!
All of Miami-Dade county has been experiencing tremendous real estate development in every price range in the market. New construction projects, commonly referred to as "pre-construction condos" are rising in every community from Aventura to South Beach, Downtown Miami to North Bay Village, Brickell Avenue to Dadeland. There are many different types of buildings; ranging from two story lofts to 70 story waterfront high-rises...ocean front luxury condo-hotels to affordable suburban mid-rise projects. Whether you want an affordable studio apartment in the Miami Arts District or a penthouse mansion in the sky in Bal Harbour...no matter what price range, level of amenities and services, or location one desires...it can be found in Miami.
Miami Condo Lifestyle is dedicated to helping you sort through the hundreds of potential Miami preconstruction real estate opportunities to find just the right situation to fit your goals. To that end, we try to answer the Frequently Asked Questions here, as well as, describe the development phases that each preconstruction project goes through and the different ways to take advantage of the appreciating Miami real estate market.
About New Miami Condo Construction
To narrow down your search, use the search box. Columns may be reordered by clicking the column head.
| Visit Building | Community | Minimum Price | Units | Views | Year Built |
|---|---|---|---|---|---|
5775 Collins Avenue | Miami Beach | $1,600,000 | 71 | Oceanfront | 2021 |
300 Biscayne Blvd Way | Miami Downtown | $750,000 | 391 | Bay and City | 2022 |
8701 Collins Ave | Surfside | $3,400,000 | 64 | Oceanfront | 2019 |
788 NE 23 Street | Edgewater Miami Midtown | $1,860,000 | 100 | Bay and City | 2020 |
4 Grove Isle Drive | Coconut Grove | $2,200,000 | 79 | Bay and City | 2020 |
700 NE 26th Terrace | Edgewater Miami Midtown | $560,000 | 249 | Bayfront | 2021 |
6800 Indian Creek Drive | Miami Beach North Beach | $1,200,000 | 39 | Bay and City | 2021 |
1300 Monad Terrace | South Beach | $1,725,000 | 59 | Bay and City | 2020 |
555 N Miami Avenue | Miami Downtown | $340,900 | 400 | Bay and City | 2022 |
24 SW 4th Street | Miami River Brickell | $800,000 | 350 | Bay and City | 2020 |
15701 Collins Avenue | Sunny Isles Beach | $2,450,000 | 210 | Oceanfront | 2020 |
255 SW 9th Street | Brickell | $319,000 | 50 | City | 2021 |
175 SE 25th Road | Brickell | $942,000 | 135 | Bay and City | 2020 |
The primary benefit of investing in preconstruction condo projects is that the buyer is able to get a brand new condominium property at some time in the future based on today's prices.
Each preconstruction condo project goes through four different phases:
Phase 1: Reservation
In this phase, the developer is offering the units at the lowest price of all future stages. These prices are typically below the market price and give the developer the chance to test the real demand for the project, helping the financing process that they face with their current lenders. The buyer will find the great chance to "reserve" the chosen unit with a deposit of 15% or 20% of the unit value, with a "reservation agreement". This money is fully refundable.
Phase 2: Contract
Once the developer reaches the point of the required number of reservation agreements, they create the "hard-contracts" with the "condominium-documents" specifying in detail all the legal and technical specifications of the development. This stage is usually reached between 1 and 3 months after the "reservation agreement". If the buyer wishes to go ahead, the deposit given to the developer is now non-returnable.
Phase 3: Construction
When the construction of the project begins or the construction "breaks ground"; a second 15 to 20% is required to complete the initial deposit. The construction may take between 6 months to 2 years. Once the developer finishes the buyers floor an additional 20 % will be required and also, when the building is "topped-off" or the top floor is completed.
Phase 4: Closing
Once the development interiors are completed (six months or two years later), you will complete the transaction by "closing" the unit. At this point, the remaining money to complete the purchase will be required, and the mortgage or the cash payoff will have to be available, along with the closing costs and all the typical expenses related to a Florida real estate transaction.
Preconstruction Condos - FAQ
How does Florida law protect the purchaser of a preconstruction condo?
In Florida, purchasers have a fifteen (15) day rescission period starting with their receipt of the Public Offering Statement, which includes the condominium documents, association by-laws, preconstruction purchase contract and escrow agreement; to review and complete or rescind any condominium purchase and escrow agreement and receive a full refund of their deposit if they rescind.
The most important protection under Florida law is that your deposit is held in an escrow account.
- Alert you about new preconstruction projects before they are made public
- Help you compare the pricing in similar buildings in the neighborhood
- Inform you about community infrastructure developments such as service retail and civic investment that may effect the future value of your property
- Help you negotiate the terms of the contract and advise you on alternative choices that may meet your needs
- Share information regarding the relative financial strength and track record of a developer with you
Finally, since all realty fees are paid by the developer, you are getting the services of the REALTOR® for free!
For more information on upcoming pre-construction projects and how to buy them, please contact us.
About New Miami Condo Construction
To narrow down your search, use the search box. Columns may be reordered by clicking the column head.
| Visit Building | Community | Minimum Price | Units | Views | Year Built |
|---|---|---|---|---|---|
102 24th Street | South Beach | $1,170,000 | 161 condos, 417 hotel | Oceanfront | 2014 |
1000 Biscayne Blvd | Miami Downtown | $5,900,000 | 83 | Bay and City | 2019 |
1010 Brickell Ave | Brickell | $360,000 | 387 | Bay and City | 2017 |
321 NE 26th St | Edgewater Miami Midtown | $275,000 | 89 | Bay and City | 2018 |
300 Collins Ave | South Beach | $1,200,000 | 19 | Ocean & City | 2018 |
321 Ocean Drive | South Beach | $5,900,000 | 21 | Oceanfront | 2015 |
400 Sunny Isles Blvd | Sunny Isles Beach | $699,000 | 230 | Ocean & Intracoastal | 2015 |
6080 Collins Avenue | Miami Beach | $416,000 | 73 | Ocean & City | 2019 |
488 NE 18th Street | Edgewater Miami Midtown | $350,000 | 647 | Bay and City | 2018 |
18975 Collins Avenue | Sunny Isles Beach | $1,500,000 | 308 | Ocean & City | 2019 |
4250 Biscayne Blvd | Miami Design District | $219,000 | 167 | Bay and City | 2015 |
600 NE 27th St | Edgewater Miami Midtown | $510,000 | 164 | Bay and City | 2015 |
3651 Collins Avenue | South Beach | $8,000,000 | 8 | Oceanfront | 2016 |
718 Valencia Ave | Coral Gables | $1,575,000 | 32 | City | 2017 |
2900 NE 7th Avenue | Edgewater Miami Midtown | $405,000 | 399 | Bayfront | 2017 |
1080 Brickell Avenue | Brickell | $268,000 | 323 | Bay and City | 2016 |
68 SE 6 ST & 88 SE 7 St | Brickell | $515,000 | 820 condo,263 hotel | Bay and City | 2016 |
1000 Brickell Plaza | Brickell | $450,000 | 552 | Bay and City | 2019 |
45 SW 9th St | Brickell | $400,000 | 358 | Bay and City | 2017 |
1300 Brickell Bay Drive | Brickell | $235,000 | 374 | Bay and City | 2014 |
1010 SW 2nd Avenue | Brickell | $285,000 | 155 | Bay and City | 2017 |
1600 NE 1 st Avenue | Edgewater Miami Midtown | $285,000 | 513 | Bay and City | 2018 |
201 SW 17 Road | Brickell | $370,000 | 81 | Bay and City | 2016 |
151 SE 1st St | Miami Downtown | $240,000 | 352 | City | 2016 |
17475 Collins Avenue | Sunny Isles Beach | $1,190,000 | 84 | Oceanfront | 2015 |
601 NE 27th Street | Edgewater Miami Midtown | $349,000 | 90 | Bayfront | 2015 |
3250& 3300 NE 188th Street | Aventura | $799,000 | 190 | Ocean & Intracoastal | 2015 |
1451 Brickell Avenue | Brickell | $529,000 | 180 | Bay and City | 2017 |
2901 Collins Avenue | South Beach | $1,490,000 | 26 | Oceanfront | 2014 |
3315 Collins Avenue | South Beach | $5,995,000 | 47 | Oceanfront | 2015 |
3581 E. Glencoe St | Coconut Grove | $1,700,000 | 26 | Bay and City | 2019 |
9349 Collins Avenue | Surfside | $5,150,000 | 58 | Oceanfront | 2016 |
275 Giralda Ave | Coral Gables | $949,000 | 33 | City | 2019 |
120 Ocean Drive | South Beach | $4,995,000 | 10 | Oceanfront | 2015 |
480 NE 31 Street | Edgewater Miami Midtown | $720,000 | 356 | Bay and City | 2019 |
2669 & 2675 South Bayshore Drive | Coconut Grove | $799,000 | 96 | Bayfront | 2017 |
9901 E. Bay Harbor Dr | Bay Harbor Islands | $429,000 | 20 | Bay and City | 2016 |
3401 NE 1st Avenue | Edgewater Miami Midtown | $385,000 | 457 (397 condos,60 suites | City | 2018 |
460 NE 28th Street | Edgewater Miami Midtown | $450,000 | 300 | Bay and City | 2015 |
25 -135 North Shore Drive | Miami Beach North Beach | $799,000 | 43 | Bay and City | 2018 |
9261 E. Bay Harbor | Bay Harbor Islands | $600,000 | 48 | Bay and City | 2017 |
16901 Collins Avenue | Sunny Isles Beach | $650,000 | 192 | Oceanfront | 2018 |
9940 & 9960 W Bay Harbor Dr | Bay Harbor Islands | $595,000 | 58 | Bay and City | 2016 |
6901 Collins Avenue | Miami Beach North Beach | $3,995,000 | 25 | Oceanfront | 2019 |
1600 SW 1st Avenue | Brickell | $290,000 | 124 | Bay and City | 2016 |
17749 Collins Avenue | Sunny Isles Beach | $5,900,000 | 79 | Oceanfront | 2015 |
801 South Pointe Drive | South Beach | $1,495,000 | 30 | Ocean & City | 2015 |
17301 & 17111 Biscayne Blvd | North Miami | $719,000 | 468 | Intracoastal | 2016 |
301 Altara | Coral Gables | $375,000 | 227 | City | 2019 |
1100 S. Miami Avenue | Brickell | $215,000 | 382 | Bay and City | 2015 |
17141 Collins Avenue | Sunny Isles Beach | $2,500,000 | 68 | Oceanfront | 2018 |
31 SE 6th St | Brickell | $230,000 | 192 | Bay and City | 2013 |
999 SW 1st Avenue | Brickell | $329,000 | 390 | Bay and City | 2015 |
9501 Collins Avenue, | Surfside | $4,400,000 | 7 | Oceanfront | 2014 |
10201 & 10203 Collins Avenue | Bal Harbour | $2,100,000 | 260 | Oceanfront | 2017 |
350 Ocean Drive | Key Biscayne | $2,180,000 | 154 | Oceanfront | 2015 |
455 NE 39th St | Miami Design District | $400,000 | 38 | Bay and City | 2018 |
1 Collins Ave | South Beach | $1,695,000 | 50 | Ocean & City | 2016 |
3131 NE 7th Avenue | Edgewater Miami Midtown | $699,000 | 276 | Bayfront | 2018 |
1201 20th Street | South Beach | $599,000 | 45 | Bay and City | 2016 |
7000 - 7095 Fisher Island Drive | Fisher Island | $5,900,000 | 47 | Oceanfront | 2015 |
650 NE 32nd Street | Edgewater Miami Midtown | $400,000 | 356 | Bayfront | 2018 |
501 NE 31st Street | Edgewater Miami Midtown | $415,000 | 396 | Bay and City | 2018 |
851 NE 1st Avenue | Miami Downtown | $659,000 | 466 | Bay and City | 2019 |
2701 South Bayshore Drive | Coconut Grove | $850,000 | 289 | Bay and City | 2018 |
330 Sunny Isles Blvd | Sunny Isles Beach | $800,000 | 320 | Ocean & Intracoastal | 2019 |
6610 & 6620 Indian Creek | Miami Beach North Beach | $445,000 | 115 | Bay and City | 2016 |
18555 Collins Avenue | Sunny Isles Beach | $3,695,000 | 132 | Oceanfront | 2017 |
5000 & 5500 Island Estates Blvd | Aventura | $2,300,000 | 160 | Ocean, Bay & Intracoastal | 2018 |
68 SE 6th Street | Brickell | $540,000 | 390 | Bay and City | 2016 |
19575 Collins Avenue | Sunny Isles Beach | $7,995,000 | 39 | Oceanfront | 2014 |
88 SW 7th Street | Brickell | $499,000 | 390 | Bay and City | 2016 |
4701 Meridian Ave | Miami Beach | $2,000,000 | 111 condos, 15 villas | Bay and City | 2019 |
9400 W Bay Harbor Drive | Bay Harbor Islands | $1,080,000 | 25 | Bay and City | 2013 |
10201 E Bay Harbor Dr | Bay Harbor Islands | $850,000 | 40 | Bay and City | 2016 |
1300 Miami Avenue | Brickell | $565,000 | 450 | Bay and City | 2016 |
801 South Miami Avenue | Brickell | $550,000 | 450,78 hotel suites | Bay and City | 2018 |
9001 & 9111 Collins Avenue | Surfside | $3,750,000 | 119 plus 31 hotel | Oceanfront | 2017 |
16385 Biscayne Blvd | North Miami | $475,000 | 330 | Intracoastal | 2018 |
18501 Collins Avenue | Sunny Isles Beach | $4,000,000 | 154 | Oceanfront | 2019 |
Blue pins show existing condos. Orange pins show condos under construction. Tap or click pin for details.