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About New Miami Condo Construction

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
CommunityMinimum PriceUnitsViewsYear Built

57 Ocean

5775 Collins Avenue

Miami Beach$1,600,00071Oceanfront2021

Alton Bay

3900 Alton Rd

South Beach$1,700,00075Bay and City2020

Aston Martin Residences

300 Biscayne Blvd Way

Miami Downtown$750,000391Bay and City2022

Brickell Flatiron

1001 Miami Avenue

Brickell$450,000552Bay and City2019

Eighty Seven Park

8701 Collins Ave

Surfside$3,400,00064Oceanfront2019

Elysee

788 NE 23 Street

Edgewater Miami Midtown$1,860,000100Bay and City2020

Markers

4 Grove Isle Drive

Coconut Grove$2,200,00079Bay and City2020

Missoni Baia

700 NE 26th Terrace

Edgewater Miami Midtown$560,000249Bayfront2021

Monaco Yacht Club

6800 Indian Creek Drive

Miami Beach North Beach$1,200,00039Bay and City2021

Monad Terrace

1300 Monad Terrace

South Beach$1,725,00059Bay and City2020

Okan Tower

555 N Miami Avenue

Miami Downtown$340,900400Bay and City2022

One River Point

24 SW 4th Street

Miami River Brickell$800,000350Bay and City2020

Ritz Carlton Sunny Isles

15701 Collins Avenue

Sunny Isles Beach$2,450,000210Oceanfront2020

SMART Brickell

255 SW 9th Street

Brickell$319,00050City2021

UNA Residences

175 SE 25th Road

Brickell$942,000135Bay and City2020


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
CommunityMinimum PriceUnitsViewsYear Built

1 Hotel & Homes

102 24th Street

South Beach$1,170,000161 condos,
417 hotel
Oceanfront2014

1000 Museum

1000 Biscayne Blvd

Miami Downtown$5,900,00083Bay and City2019

1010 Brickell

1010 Brickell Ave

Brickell$360,000387Bay and City2017

26 Edgewater

321 NE 26th St

Edgewater Miami Midtown$275,00089Bay and City2018

300 Collins

300 Collins Ave

South Beach$1,200,00019Ocean & City2018

321 Ocean Drive

321 Ocean Drive

South Beach$5,900,00021Oceanfront2015

400 Sunny Isles

400 Sunny Isles Blvd

Sunny Isles Beach$699,000230Ocean & Intracoastal2015

6080 Collins

6080 Collins Avenue

Miami Beach$416,00073Ocean & City2019

Aria on the Bay

488 NE 18th Street

Edgewater Miami Midtown$350,000647Bay and City2018

Armani Residences

18975 Collins Avenue

Sunny Isles Beach$1,500,000308Ocean & City2019

Baltus House

4250 Biscayne Blvd

Miami Design District$219,000167Bay and City2015

Bay House

600 NE 27th St

Edgewater Miami Midtown$510,000164Bay and City2015

Beach House 8

3651 Collins Avenue

South Beach$8,000,0008Oceanfront2016

Biltmore Parc

718 Valencia Ave

Coral Gables$1,575,00032City2017

Biscayne Beach

2900 NE 7th Avenue

Edgewater Miami Midtown$405,000399Bayfront2017

Bond Brickell

1080 Brickell Avenue

Brickell$268,000323Bay and City2016

Brickell City Centre

68 SE 6 ST & 88 SE 7 St

Brickell$515,000820 condo,263 hotelBay and City2016

Brickell Heights

45 SW 9th St

Brickell$400,000358Bay and City2017

Brickell House

1300 Brickell Bay Drive

Brickell$235,000374Bay and City2014

Brickell Ten

1010 SW 2nd Avenue

Brickell$285,000155Bay and City2017

Canvas

1600 NE 1 st Avenue

Edgewater Miami Midtown$285,000513Bay and City2018

Cassa Brickell

201 SW 17 Road

Brickell$370,00081Bay and City2016

Centro

151 SE 1st St

Miami Downtown$240,000352City2016

Chateau Beach

17475 Collins Avenue

Sunny Isles Beach$1,190,00084Oceanfront2015

Crimson

601 NE 27th Street

Edgewater Miami Midtown$349,00090Bayfront2015

Echo Aventura

3250& 3300 NE 188th Street

Aventura$799,000190Ocean & Intracoastal2015

Echo Brickell

1451 Brickell Avenue

Brickell$529,000180Bay and City2017

Edition

2901 Collins Avenue

South Beach$1,490,00026Oceanfront2014

Faena House

3315 Collins Avenue

South Beach$5,995,00047Oceanfront2015

Fairchild Coconut Grove

3581 E. Glencoe St

Coconut Grove$1,700,00026Bay and City2019

Fendi Chateau

9349 Collins Avenue

Surfside$5,150,00058Oceanfront2016

Giralda Place

275 Giralda Ave

Coral Gables$949,00033City2019

Glass

120 Ocean Drive

South Beach$4,995,00010Oceanfront2015

Gran Paraiso

480 NE 31 Street

Edgewater Miami Midtown$720,000356Bay and City2019

Grove at Grand Bay

2669 & 2675 South Bayshore Drive

Coconut Grove$799,00096Bayfront2017

Harbour Park

9901 E. Bay Harbor Dr

Bay Harbor Islands$429,00020Bay and City2016

Hyde Midtown

3401 NE 1st Avenue

Edgewater Miami Midtown$385,000457 (397 condos,60 suitesCity2018

ICON Bay

460 NE 28th Street

Edgewater Miami Midtown$450,000300Bay and City2015

IRIS on the Bay

25 -135 North Shore Drive

Miami Beach North Beach$799,00043Bay and City2018

IVORY

9261 E. Bay Harbor

Bay Harbor Islands$600,00048Bay and City2017

Jade Signature

16901 Collins Avenue

Sunny Isles Beach$650,000192Oceanfront2018

Kai at Bay Harbor

9940 & 9960 W Bay Harbor Dr

Bay Harbor Islands$595,00058Bay and City2016

L´Atelier

6901 Collins Avenue

Miami Beach North Beach$3,995,00025Oceanfront2019

Le Parc at Brickell

1600 SW 1st Avenue

Brickell$290,000124Bay and City2016

Mansions at Acqualina

17749 Collins Avenue

Sunny Isles Beach$5,900,00079Oceanfront2015

Marea South Beach

801 South Pointe Drive

South Beach$1,495,00030Ocean & City2015

Marina Palms

17301 & 17111 Biscayne Blvd

North Miami$719,000468Intracoastal2016

Merrick Manor

301 Altara

Coral Gables$375,000227City2019

Millecento Residences

1100 S. Miami Avenue

Brickell$215,000382Bay and City2015

Muse

17141 Collins Avenue

Sunny Isles Beach$2,500,00068Oceanfront2018

My Brickell

31 SE 6th St

Brickell$230,000192Bay and City2013

NINE Mary Brickell Village

999 SW 1st Avenue

Brickell$329,000390Bay and City2015

Ocean Seven

9501 Collins Avenue,

Surfside$4,400,0007Oceanfront2014

Oceana Bal Harbour

10201 & 10203 Collins Avenue

Bal Harbour$2,100,000260Oceanfront2017

Oceana Key Biscayne

350 Ocean Drive

Key Biscayne$2,180,000154Oceanfront2015

One Bay

455 NE 39th St

Miami Design District$400,00038Bay and City2018

One Ocean

1 Collins Ave

South Beach$1,695,00050Ocean & City2016

One Paraiso

3131 NE 7th Avenue

Edgewater Miami Midtown$699,000276Bayfront2018

Palau Sunset Harbor

1201 20th Street

South Beach$599,00045Bay and City2016

Palazzo del Sol

7000 - 7095 Fisher Island Drive

Fisher Island$5,900,00047Oceanfront2015

Paraiso Bay

650 NE 32nd Street

Edgewater Miami Midtown$400,000356Bayfront2018

Paraiso Bayviews

501 NE 31st Street

Edgewater Miami Midtown$415,000396Bay and City2018

Paramount Miami Worldcenter

851 NE 1st Avenue

Miami Downtown$659,000466Bay and City2019

Park Grove

2701 South Bayshore Drive

Coconut Grove$850,000289Bay and City2018

Parque Towers

330 Sunny Isles Blvd

Sunny Isles Beach$800,000320Ocean & Intracoastal2019

Peloro Miami Beach

6610 & 6620 Indian Creek

Miami Beach North Beach$445,000115Bay and City2016

Porsche Design Tower

18555 Collins Avenue

Sunny Isles Beach$3,695,000132Oceanfront2017

Prive Island

5000 & 5500 Island Estates Blvd

Aventura$2,300,000160Ocean, Bay &
Intracoastal
2018

REACH Brickell City Center

68 SE 6th Street

Brickell$540,000390Bay and City2016

Regalia

19575 Collins Avenue

Sunny Isles Beach$7,995,00039Oceanfront2014

RISE Brickell City Center

88 SW 7th Street

Brickell$499,000390Bay and City2016

Ritz Carlton Miami Beach

4701 Meridian Ave

Miami Beach$2,000,000111 condos, 15 villasBay and City2019

RIVA Bay Harbor

9400 W Bay Harbor Drive

Bay Harbor Islands$1,080,00025Bay and City2013

Sereno

10201 E Bay Harbor Dr

Bay Harbor Islands$850,00040Bay and City2016

SLS Brickell

1300 Miami Avenue

Brickell$565,000450Bay and City2016

SLS LUX

801 South Miami Avenue

Brickell$550,000450,78 hotel suitesBay and City2018

Surf Club

9001 & 9111 Collins Avenue

Surfside$3,750,000119 plus 31 hotelOceanfront2017

The Harbour

16385 Biscayne Blvd

North Miami$475,000330Intracoastal2018

Turnberry Ocean Club

18501 Collins Avenue

Sunny Isles Beach$4,000,000154Oceanfront2019

Blue pins show existing condos. Orange pins show condos under construction. Tap or click pin for details.