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Pre-construction projects in Miami

This is a great opportunity to save up to 30% of what the finished product will cost.

Essentially, since construction of the building is being funded with purchaser deposits instead of a bank loan, the savings in financing costs are being passed down to the buyer.

The window of opportunity won’t last very long.

 

Learn more about pre-construction process

 

For more information call 305 751-1000 today

 

     
Residences by Armani Casa new preconstruction in Sunny Isles Beach, Florida
18975 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: 2014
Completion date: 2016

Floors: 60
Units: 260

Sizes:
 1,500 - 3,700 sq.ft. / 140 - 345 M2

Prices: $1.2 million to $5.5 million

more about Armani Casa Tower
 
   
 
Bay House new preconstruction
Bay House

600 NE 27 Street,
Miami, FL 33137

Construction start: 1st quarter of 2013
Completion date: 2nd quarter of 2015

Floors: 38
Units: 164

Sizes:
 1,600 - 1,725 sq.ft. / 148-160 M2

Prices: $ 500,000 - $ 800,000

more about Bay House
 
   
     
Chateau Beach new preconstruction in Sunny Isles Beach, Florida
Chateau at Sunny Isles

17475 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: September 2012
Completion date: 2014

Floors: 33
Units: 84

Sizes:
 1,488 - 9,300 sq.ft. / 138-865 M2

Prices: $ 1,100,000 - $ 3,700,000

more about Chateau
 
   
 
Costa Hollywood - New pre-construction  luxury oceanfront condo-resort in Hollywood Beach, Florida
Costa Hollywood

777 North Ocean Drive,
Hollywood, FL 33019

Construction start: November 2012
Completion date: Summer 2014

Floors: 6
Units: 310

Sizes:
 338 - 1,200 sq.ft. / 32-112 m2

Prices: from $ 170,000

more about Costa Hollywood
 
   
     
Echo Aventura preconstruction in Aventura, Florida
ECHO Aventura

3250 NE 188th Street
Aventura, FL 33180

Construction start: 2013
Completion date: 2015

Floors: 11
Units: 190 including 18 penthouses

Sizes:
 1,671 - 3,658 sq.ft. / 155-340 M2

Prices: $ 1,100,000 - $ 3,100,000

more about Echo Aventura
 
   
 
Faena House - New pre-construction luxury oceanfront condominiums in Miami Beach, Florida
Faena House

3201 Collins Avenue
Miami Beach, FL 33137

Construction start: Mid 2103
Completion date: End of 2014

Floors: 14
Units: 43

Sizes:
 1,300 - 4,730 sq.ft. / 121-440 M2

Prices: $ 2,500,000 - $ 50,000,000

more about Faena House
 
   
     
Jade Signature new preconstruction in Sunny Isles Beach
Jade Signature

16901 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: End of 2013
Completion date: End of 2016

Floors: 57
Units: 192

Sizes:
 1,378 - 10,500 sq.ft. / 128-977 M2

Prices: $ 1,800,000 - $ 26,000,000

more about Jade Signature
 
   
 
Mansions at Acqualina new preconstruction in Sunny Isles Beach
Mansions at Acqualina

17749 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: August 2012
Completion date: TBD

Floors: 46
Units: 79

Sizes:
 4,000 - 16,000 sq.ft. / 370-1,500 M2

Prices: $5,000,000 - $ 50,000,000

more about Mansions
 
   
     
Marina Palms Yacht Club & Residences, Miami
Marina Palms

17201 Biscayne Blvd,
North Miami Beach, FL 33162

Construction start: Late 2013
Completion date: Mid 2015

Floors: 25
Units: 468 (two 234 unit towers)

Sizes:
 1,800 - 2,600 sq.ft. / 168-242 M2

Prices: $ 600,000 - $ 1,500,000

more about Marina Palms
 
   
 
Oceana Bal Harbour Residences - new development in Bal Harbour
Oceana Bal Harbour

10201 Collins Avenue,
Bal Harbour, FL 33154

Construction start: October 2013
Completion date: End of 2016

Floors: 28
Units: 239

Sizes:
 1,350 - 4,200 sq.ft. / 125-390 M2

Prices: $ 600,000 - $ 1,500,000

more about Marina Palms
 
   
     
Parque Towers, New Residences in Sunny Isles Beach, Florida
Parque Towers

330 Sunny Isles Blvd.
Sunny Isles Beach, FL 33160

Construction start: March 2014
Completion date: 1st quarter of 2016

Floors: Two Towers, 26 and 29-floors
Units: 300 (150 units in each Tower)

Sizes:
 1,860 - 4,850 sq.ft. / 173-450 M2

Prices: from $ 800,000

more about Parque Towers
 
   
 
Porsche Design Residences new preconstruction in Sunny Isles Beach, Florida
Porsche Design Residences

18555 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: March 2012
Completion date: January 2014

Floors: 57
Units: 132

Sizes:
 3,800 - 9,500 sq.ft. / 353-883 M2

Prices: $ 4,000,000 - $ 9,000,000

more about Porsche Design
 
   
     
Prive Private Island Development in Aventura, Florida
Prive Private Island

5000 Island Estates Boulevard
Aventura, FL 33160

Construction start: March 2012
Completion date: TBD

Floors: 16
Units: 160

Sizes:
 2,585 - 5,600 sq.ft. / 240 - 520 M2

Prices: starting at $ 1,700,000

more about Prive
 
   
 
Regalia Sunny Isles Beach
Regalia in Sunny Isles

19505 Collins Avenue
Sunny Isles Beach, FL 33160

Construction start: March 2012
Completion date: TBD

Floors: 42
Units: 39

Sizes:
 5,515 sq.ft. + 2,100 sq.ft. terrace / 512 M2 + 195 M2

Prices: starting at $ 7,500,000

more about Regalia
 
   
     
Regalia Sunny Isles Beach
Sage Beach

2101 South Surf Road
Hollywood, FL 33019

Construction start: 2013
Completion date: 2014

Floors: 4
Units: 24

Sizes:
 2,000 - 3,000 sq.ft. / 186-290 M2

Prices: from $ 1,200,000

more about Sage Beach
 
   
   
     

 

For more information call 305 751-1000 today

 

 

Recently SOLD projects in Miami

   
Apogee Beach
4053 South Surf Road
Hollywood, FL 33019

Construction start: January 2012
Completion date: Novemebr 2013

Floors: 22
Units: 49 (2 - 4 bed)

Sizes:
 1,690 - 5,041 sq.ft. / 157-468 M2

Prices: $ 750,000 - $ 2,300,000

more about Apogee Beach
 
   
 
New pre-construction project Aventura Isles - gated single family homes community near Aventura, Florida
998 NE 195th Street,
North Miami Beach, FL 33179

Construction start: October 2012
Completion date: September 2014

Floors: 2
Units: Gated single family homes community

Sizes:
1,537 - 2,347 sq.ft. / 143-218 M2

Prices: from $ 214,000

more about Aventura Isles
 
   
     
BeachWalk new preconstruction
2600 East Hallandale Beach Blvd.
Hallandale Beach, FL 33009

Construction start: 1st quarter 2013
Completion date: 2nd quarter 2015

Floors: 33
Units: 300

Sizes:
 1,100 - 1,850 sq.ft. / 102-172 M2

Prices: $ 400,000 - $ 750,000

more about BeachWalk
 
   
 
Bellini at Williams Island, Florida
4100 Williams Island Blvd.
Aventura, FL 33160

Construction start: December 2011
Completion date: September 2013

Floors: 24
Units: 70 large corner residences

Sizes:
 2,300 - 4,980 sq.ft. / 214-463 M2

Prices: $ 950,000 - $ 3,700,000

more about Bellini
 
   
     
Brickell House
1300 Brickell Bay Drive
Miami, FL 33131

Construction start: August 2012
Completion date: Mid 2014

Floors: 46
Units: 374 (Studio - 3 bedrooms)

Sizes:
 420 - 2,166 sq.ft. / 39-201 M2

Prices: $ 220,000 - $ 1,300,000

more about Brickell House
 
   
 
1100 Millecento by Pininfarina
1100 South Miami Avenue
Miami FL 33130

Construction start: September 2012
Completion date: End of 2014

Floors: 42
Units: 382

Sizes:
  578 - 1,400 sq.ft. / 54-130 M2

Prices: $ 200,000 - $ 650,000

more about 1100 Millecento
 
   
     
Hyde Beach Resort & Residences - New pre-construction luxury oceanfront condominiums in Hollywood Beach, Florida
4111 South Ocean Drive
Hollywood Beach, FL 33019

Construction start: End of 2103
Completion date: 2nd quarter of 2016

Floors: 41
Units: 407

Sizes:
 870 - 1,840 sq.ft. / 81 - 171 M2

Prices: $ 430,000 - $ 1,500,000

more about Hyde Beach
 
   
 
Icon Bay - New pre-construction  luxury waterfront condominiums in Miami, Florida
428 NE 28th St.
Miami, FL 33137

Construction start: 2012
Completion date: Mid 2014

Floors: 40
Units: 300

Sizes:
 964 - 2,700 sq.ft. / 90-251 m2

Prices: $ 500,000 - $ 1,900,000

more about Icon Bay
 
   
     
400 Sunny Isles
400 Sunny Isles Blvd.
Sunny Isles Beach, FL 33160

Construction start: Late 2013
Completion date: Mid 2015

Floors: 20
Units: 230 in two towers

Sizes:
 1,200 - 4,000 sq.ft. / 112-375 M2

Prices: $ 750,000 - $ 2,500,000

more about 400 Sunny Isles
 
   
   
     

 

 

 

Preconstruction phases

The primary benefit of investing in preconstruction condo projects is that it offers the purchaser the ability to leverage a large asset with a relatively small amount of money (typically 10 to 20%) and enjoy the real estate appreciation of the property over time without the carrying costs, such as interest and taxes.

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 always 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 10-20% 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".

 

Phase 3: Construction

When the construction of the project begins or the construction "breaks ground"; a second deposit of 10-20% is required. The construction may take between 18 months to 2 years. Another 10-20% may be required when construction reaches level where buyer's property is or when roof of the building is complete.

 

Phase 4: Closing

Once the development is completed (eifhteen months or two years later), buyer completes the transaction by "closing" the unit. At this point, the remaining % 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. These funds will be not released until the closing of your unit unless the developer designates a portion of the deposits may be used for construction in the contract.

 

Why are preconstruction sales necessary?

Most developers are required by their lenders to pre-sell a certain percentage of their projects before the bank or lender will lend them the funds for construction. This is the risk (and the opportunity) when buying a preconstruction condo unit. If for some reason the developer decides not to build the project then your deposit money has not been appreciating. Preselling condos has become a standard practice. Once the required presale percentages have been reached and construction has begun, your risk is greatly reduced.

 

Why buy a preconstruction unit when I can buy one that is available now?

By purchasing at pre-sale you are able to leverage your down payment and control 100% of an appreciating asset with a small (20%) investment. Many people have purchased preconstruction condos and have sold their units for a profit even before the building is completed.

 

On what floor and what size unit should I buy?

If you are expecting to close and live in the residence then you should select the view and floor height that will appreciate most over time as well as one that you will enjoy living in. The higher floor with unobstructed views are the best.

If, however, you plan to lease the condo to a tenant, you will want one that appeals to the greatest number of potential tenants. This can also depend on the area your purchase is located. If you are in an urban environment, a one bedroom for single tenants may be best; in a resort area, a condo-hotel unit with a management program may work for you. In a suburban neighborhood, two bedrooms are often better because they attract couples without children, single parents with a child or singles with a roommate.

If you plan to sell your condo purchase for a profit as quickly as possible then the least expensive unit on the lowest floor (typically studios and one bedrooms) have shown the highest percentage of return based on previous condominium resales.

 

What are the required deposits for preconstruction condos?

With most preconstruction condos you will be required to deposit twenty (20) percent by the time the developer "breaks ground". Typically, there is an initial reservation fee, then the remainder of the first ten(10)percent at the time of contract. The final ten (10) percent is required when the developer breaks ground.

 

Can I sell my preconstruction purchase before it's completed?

You must have written permission from the developer.

  1. You may sell your right to the condominium unit by transferring or assigning the contract to a subsequent purchaser.
  2. You may sell your unit under a real estate contract upon completion of the condominium. Two real estate closings will occur simultaneously, your purchase, and the sale to your buyer.

 

Who may resell my condo?

You have two options in most cases:

  1. The developer may resell the unit for you.
  2. Your REALTOR® may find a buyer for you.

In either case there will be a real estate commission but this choice is solely up to you.

 

What are the advantages of having a relationship with a REALTOR® when purchasing preconstruction condos?

A professional REALTOR® will:

  • 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 call 305 751-1000 today


 

 

 



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  Main office: +1 305 751-1000 • Mobile: +1 786 246-3005
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