Miami New Construction - Miami Condo Lifestyle

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 matter what price range, level of amenities and services, or location one 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.

To narrow down your search, you can sort and filter the information presented. To sort a column, click the name of the column you want to sort. To sort by more than one column, hold down the shift key. To filter the information, type in what you want to filter by in the box at the top of the column. Only rows that contain your typed text in the column will be displayed.

AddressCommunityYear BuiltMinimum PriceUnitsViews
57 Ocean5775 Collins Avenue Miami Beach2021 $1,600,00071Oceanfront
Alton Bay3900 Alton Rd South Beach2020 $1,700,00075Bay and City
Armani Residences18975 Collins Avenue Sunny Isles Beach2019 $1,500,000308Ocean & City
Aston Martin Residences300 Biscayne Blvd Way Miami Downtown2022 $750,000391Bay and City
Brickell Flatiron1001 Miami Avenue Brickell2019 $450,000552Bay and City
Eighty Seven Park8701 Collins Ave Surfside2019 $3,400,00064Oceanfront
Elysee788 NE 23 Street Edgewater Miami Midtown2020 $1,860,000100Bay and City
Markers4 Grove Isle Drive Coconut Grove2020 $2,200,00079Bay and City
Missoni Baia700 NE 26th Terrace Edgewater Miami Midtown2021 $560,000249Bayfront
Monaco Yacht Club6800 Indian Creek Drive Miami Beach North Beach2021 $1,200,00039Bay and City
Monad Terrace1300 Monad Terrace South Beach2020 $1,725,00059Bay and City
Okan Tower555 N Miami Avenue Miami Downtown2022 $360,000400Bay and City
One River Point24 SW 4th Street Miami River Brickell2020 $800,000350Bay and City
Paramount Miami Worldcenter800 NE 1st Avenue Miami Downtown2019 $659,000466Bay and City
Ritz Carlton Miami Beach4701 Meridian Ave Miami Beach2019 $2,000,000111 condos, 15 villasBay and City
Ritz Carlton Sunny Isles15701 Collins Avenue Sunny Isles Beach2020 $2,450,000210Oceanfront
SMART Brickell255 SW 9th Street Brickell2021 $319,00050City
UNA Residences175 SE 25th Road Brickell2020 $942,000135Bay and City

Miami New Construction Condos

To narrow down your search, you can sort and filter the information presented. To sort a column, click the name of the column you want to sort. To sort by more than one column, hold down the shift key. To filter the information, type in what you want to filter by in the box at the top of the column. Only rows that contain your typed text in the column will be displayed.

AddressCommunityYear BuiltMinimum PriceUnitsViews
1 Hotel & Homes102 24th Street South Beach2014 $1,170,000161 condos,
417 hotel
1000 Museum1000 Biscayne Blvd Miami Downtown2019 $5,900,00083Bay and City
1010 Brickell1010 Brickell Ave Brickell2017 $360,000387Bay and City
26 Edgewater321 NE 26th St Edgewater Miami Midtown2018 $275,00089Bay and City
300 Collins300 Collins Ave South Beach2018 $1,200,00019Ocean & City
321 Ocean Drive321 Ocean Drive South Beach2015 $5,900,00021Oceanfront
400 Sunny Isles400 Sunny Isles Blvd Sunny Isles Beach2015 $699,000230Ocean & Intracoastal
6080 Collins6080 Collins Avenue Miami Beach2019 $416,00073Ocean & City
Aria on the Bay488 NE 18th Street Edgewater Miami Midtown2018 $350,000647Bay and City
Aurora17550 Collins Avenue Sunny Isles Beach2020 $915,00061Ocean & City
Baltus House4250 Biscayne Blvd Miami Design District2015 $219,000167Bay and City
Bay House600 NE 27th St Edgewater Miami Midtown2015 $510,000164Bay and City
Beach House 83651 Collins Avenue South Beach2016 $8,000,0008Oceanfront
Biltmore Parc718 Valencia Ave Coral Gables2017 $1,575,00032City
Biscayne Beach2900 NE 7th Avenue Edgewater Miami Midtown2017 $405,000399Bayfront
Bond Brickell1080 Brickell Avenue Brickell2016 $268,000323Bay and City
Brickell City Centre68 SE 6 ST & 88 SE 7 St Brickell2016 $515,000820 condo,263 hotelBay and City
Brickell Heights45 SW 9th St Brickell2017 $400,000358Bay and City
Brickell House1300 Brickell Bay Drive Brickell2014 $235,000374Bay and City
Brickell Ten1010 SW 2nd Avenue Brickell2017 $285,000155Bay and City
Canvas1600 NE 1 st Avenue Edgewater Miami Midtown2018 $285,000513Bay and City
Cassa Brickell201 SW 17 Road Brickell2016 $370,00081Bay and City
Centro151 SE 1st St Miami Downtown2016 $240,000352City
Chateau Beach17475 Collins Avenue Sunny Isles Beach2015 $1,190,00084Oceanfront
Crimson601 NE 27th Street Edgewater Miami Midtown2015 $349,00090Bayfront
Echo Aventura3250& 3300 NE 188th Street Aventura2015 $799,000190Ocean & Intracoastal
Echo Brickell1451 Brickell Avenue Brickell2017 $529,000180Bay and City
Edition2901 Collins Avenue South Beach2014 $1,490,00026Oceanfront
Faena House3315 Collins Avenue South Beach2015 $5,995,00047Oceanfront
Fairchild Coconut Grove3581 E. Glencoe St Coconut Grove2019 $1,700,00026Bay and City
Fendi Chateau9349 Collins Avenue Surfside2016 $5,150,00058Oceanfront
Giralda Place275 Giralda Ave Coral Gables2019 $949,00033City
Glass120 Ocean Drive South Beach2015 $4,995,00010Oceanfront
Gran Paraiso480 NE 31 Street Edgewater Miami Midtown2019 $720,000356Bay and City
Grove at Grand Bay2669 & 2675 South Bayshore Drive Coconut Grove2017 $799,00096Bayfront
Harbour Park9901 E. Bay Harbor Dr Bay Harbor Islands2016 $429,00020Bay and City
Hyde Midtown3401 NE 1st Avenue Edgewater Miami Midtown2018 $385,000457 (397 condos,60 suitesCity
ICON Bay460 NE 28th Street Edgewater Miami Midtown2015 $450,000300Bay and City
IRIS on the Bay25 -135 North Shore Drive Miami Beach North Beach2018 $799,00043Bay and City
IVORY9261 E. Bay Harbor Bay Harbor Islands2017 $600,00048Bay and City
Jade Signature16901 Collins Avenue Sunny Isles Beach2018 $650,000192Oceanfront
Kai at Bay Harbor9940 & 9960 W Bay Harbor Dr Bay Harbor Islands2016 $595,00058Bay and City
L´Atelier6901 Collins Avenue Miami Beach North Beach2019 $3,995,00025Oceanfront
Le Parc at Brickell1600 SW 1st Avenue Brickell2016 $290,000124Bay and City
Mansions at Acqualina17749 Collins Avenue Sunny Isles Beach2015 $5,900,00079Oceanfront
Marea South Beach801 South Pointe Drive South Beach2015 $1,495,00030Ocean & City
Marina Palms17301 & 17111 Biscayne Blvd North Miami2016 $719,000468Intracoastal
Merrick Manor301 Altara Coral Gables2019 $375,000227City
Millecento Residences1100 S. Miami Avenue Brickell2015 $215,000382Bay and City
Muse17141 Collins Avenue Sunny Isles Beach2018 $2,500,00068Oceanfront
My Brickell31 SE 6th St Brickell2013 $230,000192Bay and City
NINE Mary Brickell Village999 SW 1st Avenue Brickell2015 $329,000390Bay and City
Ocean Seven9501 Collins Avenue, Surfside2014 $4,400,0007Oceanfront
Oceana Bal Harbour10201 & 10203 Collins Avenue Bal Harbour2017 $2,100,000260Oceanfront
Oceana Key Biscayne350 Ocean Drive Key Biscayne2015 $2,180,000154Oceanfront
One Bay 455 NE 39th St Miami Design District2018 $400,00038Bay and City
One Ocean1 Collins Ave South Beach2016 $1,695,00050Ocean & City
One Paraiso3131 NE 7th Avenue Edgewater Miami Midtown2018 $699,000276Bayfront
Palau Sunset Harbor1201 20th Street South Beach2016 $599,00045Bay and City
Palazzo del Sol7000 - 7095 Fisher Island Drive Fisher Island2015 $5,900,00047Oceanfront
Paraiso Bay650 NE 32nd Street Edgewater Miami Midtown2018 $400,000356Bayfront
Paraiso Bayviews501 NE 31st Street Edgewater Miami Midtown2018 $415,000396Bay and City
Park Grove2701 South Bayshore Drive Coconut Grove2018 $850,000289Bay and City
Parque Towers330 Sunny Isles Blvd Sunny Isles Beach2019 $800,000320Ocean & Intracoastal
Peloro Miami Beach6610 & 6620 Indian Creek Miami Beach North Beach2016 $445,000115Bay and City
Porsche Design Tower18555 Collins Avenue Sunny Isles Beach2017 $3,695,000132Oceanfront
Prive Island5000 & 5500 Island Estates Blvd Aventura2018 $2,300,000160Ocean, Bay &
REACH Brickell City Center68 SE 6th Street Brickell2016 $540,000390Bay and City
Regalia19575 Collins Avenue Sunny Isles Beach2014 $7,995,00039Oceanfront
RISE Brickell City Center88 SW 7th Street Brickell2016 $499,000390Bay and City
RIVA Bay Harbor9400 W Bay Harbor Drive Bay Harbor Islands2013 $1,080,00025Bay and City
Sereno10201 E Bay Harbor Dr Bay Harbor Islands2016 $850,00040Bay and City
SLS Brickell1300 Miami Avenue Brickell2016 $565,000450Bay and City
SLS LUX801 South Miami Avenue Brickell2018 $550,000450,78 hotel suitesBay and City
Surf Club9001 & 9111 Collins Avenue Surfside2017 $3,750,000119 plus 31 hotelOceanfront
The Harbour16385 Biscayne Blvd North Miami2018 $475,000330Intracoastal
Turnberry Ocean Club18501 Collins Avenue Sunny Isles Beach2019 $4,000,000154Oceanfront

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.