Brickell Owners Beware! The 2022 Brickell Pre-Construction Condo Boom Might Affect you!

Brickell New Construction Development Report: Important Details for Buyers and Sellers

Miami is truly rising into its newly acclaimed title, “Manhattan of the South”. Developers have taken the liberty to revitalize the condo market with a plethora of new construction projects as we continue to see developers submit project proposals, launch pre-construction sales, and break ground while simultaneously reaching the sellout point.

It is no surprise that Miami has fully awakened from the post-pandemic pause, but what will come as a surprise is the moment in which certain condo owners notice an obstruction to their property’s view and, eventually, its value. Although we may not be able to predict the future, we have gained valuable insight from the past. As advisors, we strategically utilize that insight in tandem with our level of expertise to protect your real estate investment.

When development projects get the green light to go vertical, it is only a matter of time until condo owners shift from the contemplation of selling to the unfortunate reality of cutting their losses. The reason for this loss in value is driven by the fact that most of these new construction projects can potentially obstruct existing views in certain units. At the David Siddons Group, we have always said that it’s a “line-by-line conversation” and it’s crucial to understand where you stand in terms of your building’s linear anatomy.[1]

This report will serve as your guide as to which projects are underway and undergoing construction in Brickell, which in return, will provide you with the competitive advantage to beat the bunch while you still can. Read below to discover which buildings will be affected and read until the end to further understand whether your unit will be directly affected.

[1] The term “line” refers to the location of the unit within the building. For example, unit 1001 is part of the 01-line and unit 1002 is part of the 02-line.

The 90-Day Brickell Real Estate Report for Q3 2021

Baccarat Residences | Brickell

• Development Overview: Baccarat presents its first collection of residences to the Miami market. Located where the Miami River meets Biscayne Bay, Baccarat launches its first 75-story residential tower, comprised of 324 tower residences, 8 penthouses and 28 riverfront flats and duplexes. In its entirety, Baccarat Residences will have 3 towers (57, 75, and 82 stories each) with approximately 1,400 residences, five-star hotel, class-A office space, retail and luxury yacht dockage. The sales have already launched with groundbreaking projected to be Q1 of 2022 and project completion by Fall 2025. Developed by the Related Group and designed by Arquitectonica.
• Buildings Potentially Affected:
  • Brickell on the River North & South, 500 Brickell East & West, MyBrickell. Some of these units might be affected with obstructed views. Please contact us for more details about the different lines and which ones will be affected.

830 Brickell | Brickell

• Development Overview: The City of Miami’s first new 55-story office tower in 10 years is underway as Fintech tenants and co-working colleagues ink their leases. WeWork will be the anchor tenant at the office tower, leasing approximately 100,000 square feet at the building along with tech giant, Microsoft and tech-focused private equity firm, Thoma Bravo. 830 Brickell that is currently under construction is located in the heart of the Financial District and developed by Vlad Doronin’s OKO Group along with Cain International (both parties are currently developing Una Residences). Expected completion date is set to be Q1 2022.
• Building Potentially Affected:
  • SLS LUX. To learn more about which lines will be affected please contact the David Siddons Group at +1 (407)-967-9238

One Brickell City Centre | Brickell/Miami River

• Development Overview: Swire Properties has plans to expand into their next phase of Brickell City Centre called, One Brickell City Centre. The recent selloff of Swire’s remaining inventory, consisting of 81 units from Reach and Rise (delivered in 2016), as well as 2 commercial towers has opened the opportunity to recycle those funds towards the second phase of Brickell City Centre. Swire owns some of the most coveted parcels that remain in Brickell, and they certainly have plans for reaping the benefits of their prime real estate. Given the demand for office towers, Swire chief, Guy Bradley announced their regret for limited office space in their first phase, which is intentionally setting the tone for their upcoming, One Brickell City Centre located at 700 Brickell Avenue. Along with this 80-story super tower, Swire has a pipeline to develop a 62-story tower, 52-story tower on the former Tobacco Road property and another tower along South Miami Avenue Bridge that connects to Downtown Miami.
• Building Potentially Affected: Developer, Swire Properties, also owns the buildings that surround the projected development of One Brickell City Centre. It has still not been announced which buildings will be incorporated into the project.

The Towers by Foster & Partners | Brickell

• Development Overview: Developer, Florida East Coast Realty, along with Corigin Real Estate Group and McCourt Global Properties, have proposed towers that will also join the other booming developments and reach the Federal Aviation Administration (FAA) limit, as the developers plan on building a pair of 81-story connected towers that reach 1,049 feet high. The projected development will sit on a waterfront 2.5-acre site and will boast approximately 660 luxury residences along with restaurants, art galleries and shops. In Q4 of 2020, the developers have resubmitted their plans to the FAA for their “Supertall” towers. Projected completion date of Q4 2024.
• Buildings potentially affected:
  • Jade Residences at Brickell, Solaris at Brickell Bay, The Club and The Mark. Certain lines in these condos will be affected. It truly is a line by line conversation so please contact us at (407)-967-9238 for more details.

Una Residences | Brickell

• Development Overview: The first condominium development to make wave on the private residential area of Brickell waterfront in over a decade. Developers, OKO Group along with Cain International, are quickly reaching their sellout point as it was recently announced in August 2021 that 85% of the development’s has been sold or is under contract. The 135-unit development is one of the last waterfront projects available along one of the inlets off of Brickell Avenue. The 579-foot, or 47-story, waterfront tower is set to top off Q4 of 2022, with completion in 2023. Una is setting a new standard along the sea, as it is being built around the language of architecture and embodies the spirit of the city with its cantilevered silhouette. Una Residences are starting at $2.7M.
• Buildings Potentially Affected:
  • Brickell 25, Brickell Biscayne, and Brickell Townhouse. If you own or are looking to buy in any of these condos, the 2022 Brickell Pre-Construction Condo Boom Might Affect you. Contact Shakira today by calling (407) 967-9238

Lofty Brickell | Miami River/Brickell

• Development Overview: Developer Harvey Hernandez has just closed on riverfront site for $50.5 million, where he plans to build a 3-tower residential and marina project. There are plans to construct a tower with luxury short-term apartments, branded condos, as well as a hotel. The site located at 99 SW 7^th Street is currently home to KLA schools as well as a dry cleaner. The preliminary marketing documents state that the short-term rental building will be called, “Lofty” with units ranging from $500,000 to $1.5 million.
• Buildings Potentially Affected:
  • Neo Vertika

St Regis Brickell

• Development Overview: The St Regis in Brickell will offer two bayfront condos. The first tower to launch is called the East Tower. This direct bay-front luxury tower which is the most luxurious tower will offer 149 residences, ranging from 2-7 bedrooms. The West Tower, which will be released later, will offer 203 Units residences ranging from 1-5 bedrooms
• Buildings Potentially Affected:
  • Santa Maria 05 Line

Be Aware! The 2022 Brickell Pre-Construction Condo Boom Might Affect you!

It is uber important to understand which buildings and lines are the best in Brickell, both short-term and long-term, which is why we are here. This report lists the latest new construction development projects that are submitting proposals, launching sales, breaking ground, or going vertical. We have intentionally left out the parcels of land and other properties that have recently traded for multi-million dollar deals. It will only be a matter of time until they start making the their moves. The 2022 Brickell pre-construction condo boom might affect you, so beat the bunch and make your move today.

Don’t be one of the many buyers that are currently scrambling to secure their next home. We are your trusted advisors that have over a decade of real estate experience, on and off-market. We have the ultimate exclusivity to a multitude of resources that only our group can offer to you. If you are a condo owner that cares about your property’s value appreciation, then call us today and let’s discuss your next move. If you are looking to buy a condo then please contact us to find out which are the best floor plans on the different Brickell Condos.