Miami has witnessed an incredible rebound the past year and the inventory in Miami Dade county is so tight that developers are clamoring to build as many new projects as possible. There are 133 proposed condominium towers planned across South Florida and developers are showing no signs of slowing in acquiring land. The prior boom saw 22,000 condominiums that were empty and new, and of that surplus, today only 600 remain. Median prices for condomiums are up to $438 per square foot, an incredible increase over last year, and the rental prices are similarly keeping pace. Unlike 2003, the new financing favors the cash buyer and those with income to put a substantial amount down in pre-contruction. Here are 5 new towers that were announced, we will keep you updated on the progress, and for preconstruction pricing, contact us today.
- Former Element Project at south 31st on Biscayne Bay, bought by related group for $29 million.
- Former Ice Project bought by AXA developers for $22.5 milllion on the north side of 31st and Biscayne Bay.
- Former Platinum 2 project on Northeast 30th and Biscayne Bay purchased for 29.1 million.
- Le Parc on Brickell Ave.
- Crimson Residences locaed on 27th street, and offering 19 stories and 90 units. Preconstruction pricing available.