Best and Worst Performing Condos in Edgewater in 2025

Methodology

Edgewater has quickly evolved into one of Miami’s most dynamic condo markets offering everything from new construction towers with record-setting price-per-square-foot values to older buildings struggling with inventory and rising maintenance costs. In this report, we break down the best and worst-performing condos in Edgewater using real sales data, year-over-year price-per-square-foot trends, and inventory statistics to highlight which buildings are truly holding their value, and which are falling behind. If your building isn’t included, contact us for a detailed performance analysis.

The Best Performing Condos in Edgewater

1 Elysee

Elysee stands as one of Edgewater Miami’s most exclusive and architecturally distinct condominiums. Completed in 2021, the 57-story tower offers only 100 expansive corner residences, each with unobstructed bay and city views and larger square footage per unit than any other building in the neighborhood. Its interiors, designed by Jean-Louis Deniot, introduce refined, Parisian-inspired elegance with private elevators, 10- to 11-foot ceilings, oversized terraces, and high-end finishes. Residents enjoy over 10,000 square feet of amenities across three floors, including a resort-style pool deck, Bay Lounge with chef’s kitchen and private dining room, sunrise pool and fitness center, spa with sauna and steam rooms, library, and sky lounge. Elysee attracts primarily end-users and second-home owners seeking privacy and a true boutique living experience in the heart of a rapidly developing district close to the Design District, Midtown, and Miami Beach. Prices range from approximately $2.6 million to $4.5 million, or $980 to $1,200 per square foot. Between 2021 and 2023, Elysee saw prices soar about 60%, from $850 to over $1,360 per square foot, before a modest 6% correction in 2024 as resale supply increased and the market cooled. In 2025, the average price per square foot sits around $1,120, reflecting normalization but still well above 2021 levels. Median days on market over the past year are 112, with months of inventory fluctuating between three and sixteen since delivery. HOA fees average about $2 per square foot, higher than the Edgewater norm of $1.25 to $1.50, largely due to the building’s limited number of owners sharing costs. Elysee remains predominantly owner-occupied, with only ten leases recorded in the past year, underscoring its end-user appeal. The only forthcoming project likely to compete with Elysee is Villa Miami, where prices start at $4.5 million and reach up to $10 million.

2. Paramount Bay

Paramount Bay, set directly on the bayfront in the heart of Miami’s vibrant Edgewater neighborhood, is a 47-story tower featuring 338 luxury residences. Each home showcases high ceilings, floor-to-ceiling glass, and deep terraces with sweeping bay or skyline views. Residences range from two to five bedrooms and span approximately 1,200 to over 4,400 square feet, with many units boasting premium finishes and thoughtful layouts. Since its 2010 delivery, numerous owners have modernized their interiors, resulting in notable price variations based on renovation quality. Amenities are resort-style and extensive, including two heated infinity-edge pools positioned for sunrise and sunset, cabanas and landscaped lounging areas, a two-level glass-walled fitness center overlooking the bay, a full spa with sauna and steam rooms, and a striking three-story grand lobby. Paramount Bay’s prime location adds to its appeal, offering residents easy access to Margaret Pace Park, the Design District, Midtown, Wynwood, and quick connections to Downtown Miami and Miami Beach—balancing serene waterfront living with urban convenience. Prices start around $900,000 for smaller two-bedroom residences and rise to $2.5 million, with select penthouses reaching roughly $4 million. Current prices per square foot range from $750 to $1,000. Between 2021 and 2022, Paramount Bay saw an 11% rise in values as post-pandemic demand returned, followed by a mild 3–4% dip in 2023 as supply increased. In 2024, values rebounded about 10%, largely due to premium trades on higher floors with bay views, before softening slightly in 2025 to an average of $970 per square foot—still above 2021 levels but reflective of market stabilization. The median days on market over the past year stand at 148, and months of inventory have fluctuated from as low as two months in 2021–2022 to about fifteen months more recently. HOA fees average $1.65 per square foot, just above the neighborhood norm of $1.25 to $1.50. The building remains primarily owner-occupied, though there is a stable base of long-term tenants, with 19 units leased in the past year and only six currently listed for rent. Among future competitors, Casa Bella is the closest in price point and location; however, its inland position gives Paramount Bay a distinct edge as the more established and directly waterfront option in Edgewater.

3. The Charter Club

The Charter Club Condominium is one of Edgewater’s weaker-performing buildings, challenged by age, upkeep costs, and competition from newer luxury towers. Built decades before the area’s modern condo boom, the property lacks high-end finishes, resort-style amenities, and contemporary designs that today’s buyers expect. Many units have dated interiors and smaller balconies, and while some offer partial bay views, they fall short of the unobstructed vistas available in newer Biscayne Bay towers. Rising maintenance fees and potential expenses tied to recertification further depress resale value. The building has a high percentage of investor-owned and rental units, creating frequent turnover, limited community stability, and a transient atmosphere that discourages long-term residents. Between 2021 and 2023, Charter Club saw strong growth, with prices per square foot rising nearly 37% due to post-pandemic demand and Miami’s broader condo boom. However, beginning in 2024, appreciation stalled as buyers gravitated toward newer luxury developments, and over the last two years, prices have gradually declined about 9%. Median days on market in the past year were 217, with months of inventory in 2025 ranging from six to twelve. HOA fees average $0.84 per square foot, well below neighborhood norms, but do not include special assessments of $50,000 to $100,000 per unit. The building remains heavily investor-driven, with approximately 75 units rented in the past year, and while it still appeals to price-sensitive buyers seeking larger layouts and bayfront access, its dated reputation limits long-term appreciation compared with Edgewater’s newer luxury towers.

Conclusions

The Edgewater condo scene shows a clear split between the new and the old. Modern and newer buildings like continue to attract strong buyer interest with their design, amenities, and waterfront lifestyle, even as the market cools a bit. Meanwhile, older buildings that are heavily investor concentrated are feeling the pressure of age, high costs, and investor-heavy ownership, which has slowed their growth. As the neighborhood keeps evolving, buyers are clearly leaning toward newer, well-managed condos that offer both luxury living and long-term value.

Trends in Best Performing Condos:

• Direct Bayfront Living: True waterfront locations with unobstructed Biscayne Bay views, large terraces, and floor-to-ceiling glass.
• End-User Demand & Stability:Primarily owner-occupied or second-home buyers drive demand, keeping resale values steady and reducing volatility.
• Strong but Stabilizing Price Growth:Each experienced significant appreciation post-delivery, now stabilizing around $900–$1,200 per sqft.
• Premium HOA Fees Reflect Exclusivity:Slightly higher HOA costs are justified by boutique scale, high service levels, and exceptional amenities.

Trends in Worst Performing Condos:

• Aging Buildings & Recertification Costs:Older properties facing expensive 40- or 50-year recertifications, ongoing repairs, and frequent special assessments that eat at equity and buyer confidence. Compared to newer luxury towers, these condos lack updated finishes and resort-style amenities compared to competition in the market.
• High Carrying Costs vs. Value:HOA fees, especially when combined with assessment charges, are disproportionately high relative to property value, further deterring buyers.
• High Investor & Rental Ratios:Each building has a heavy concentration of investor-owned units and some short-term rentals, creating transient atmospheres, high turnover, and weaker end-user appeal.
• Long Market Times & Elevated Inventory:Prolonged days on market (110–220+) and months of inventory ranging from 6–17 reflect weak demand and low resale momentum.

Connect with The David Siddons Group

Thinking of buying or selling in Edgewater? I’ve analyzed every major building in these markets and can offer you a private strategy session to ensure you’re on the winning side. Don’t gamble with a million-dollar decision,  I’ll help you separate true value from hidden risk. Whether you’re buying or selling, timing and building choice are everything. With years of experience guiding clients through Miami’s luxury condo market, I’ll make sure you protect and grow your investment.

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