Mercedes Benz Places Miami | A Unique New Project or Just Another Car-Branded Condo?

A brand new Mercedes Benz branded condo has been announced. The new mega project besides 791 residences will offer commercial space and a luxury hotel will be located in Brickell. Those who follow my blog might know my standpoint on branded luxury condos that have little to do with the hospitality industry. Therefore I would like to dissect this condo and show you the good and the bad. In addition, I would like to show how this condo relates to other brand-new condos in Brickell.

If you would like to know more about the condo before you continue reading, here you can find all the price ranges, floor plans, and fact sheet of the Mercedes Benz Residences in Brickell.

The Pitfalls of Branded Condo Towers

Reviewing the Mercedes-Benz Places in Brickell Miami

Having mentioned my concern with branded luxury condos,  let’s jump into the Mercedes Benz Residences in Brickell, Miami We will review the Mercedes Benz condo on:

1. Location
2. Density and Unit Mix
3. The Floor Plans
4. The Team
5. Prices

1. Location of the Mercedes Benz Residences in Miami

2. Density and Unit Mix

The Mercedes Benz Residences Miami offers studios as well as 1 to 3-bedroom residences. The Mercedes Benz condo in Brickell offers 791 units in total, which makes it a high-density project. The residences start on floor 32. Below that level, the tower will feature 130,000 square feet of amenities and hospitality space, office space, a 174-key hotel, retail outlets, and parking.
Each floor offers between 7 and 16 condos which makes it a high-density project. In addition, the high amount of studios, 1-bedroom, and 2-bedroom units make it a project that attracts many investors who might put these units up for rent. We often write about the importance of looking for condos that are destined for primary homeowners who live in the condo all year or use it as a second home. These condos tend to fare better over time and have historically seen better resale values. In a condo with smaller units, the risk always exists that many of these units will end up on the rental market, which might affect resale values.

3. The Floor Plan at Mercedes-Benz Places Miami

4 The team behind the Mercedes-Benz Residences Brickell

JDS Development Group is the developer behind this project. They have constructed an impressive amount of condos in both Miami as well as in NYC. JDS has long been active in the South Florida market, achieving record sales for Echo Brickell, Echo Aventura, and Monad Terrace by Ateliers Jean Nouvel.  In NYC, JDS is the developer behind the Steinway Tower on 111 W 57th street, which they created in collaboration with SHoP Architects, the architect of choice for the Mercedes Benz Residences. SHoP Architects is a New York-based global design leader. Notable projects include Brooklyn’s Barclays Center, the American Copper Buildings and the supertall residential tower 111 West 57th Street in Manhattan, the new Uber Headquarters in San Francisco, the recently opened Collins Arch complex in Melbourne, Fulbright University Vietnam, Codrico Tower Rotterdam, and multiple diplomatic facilities including in Milan and Bangkok, under a Design Excellence contract with the U.S. Department of State. In sum, the team behind this project has a proven track record in large-scale residential projects.

5 The Prices

The Mercedes-Benz Places Brickell Miami is asking at an average of $1,600 per SF. This brings them in the same category of Ciprianiasking just below $1,600 per SF ($1,575), Baccarat asking $1,630 per SF, and 1428 Brickell which asks $1,680 per SF on average. As mentioned before the residences at Mercedes Benz are smaller than units in these competing residences, but ask the same price per SF.

In short, the Mercedes Benz Places offer more affordable units, which are also smaller. Working example;

• A two-bedroom (Some with bed option) at Mercedes-Benz Places will give you 1,057 to 1,706 Sf for $1.45M-$2.4M
• A two-bedroom plus den at 1428 Brickell gives you 1,800 SF for $2,65M-$3M
• A two Bedroom plus Den at Cipriani gives you 1,400 to 2,150 SF for $2.3M-$3.2,

Summary

In summary, this project represents the collaboration of a highly skilled team with a proven track record and extensive experience. It is characterized by higher density and a multitude of units on each floor, with a significant proportion being smaller studios or one-bedroom units. While this may appeal to some buyers, especially considering the prevailing trend of larger units in new condos, it may not align with the preferences of all purchasers. Despite offering lower prices compared to many competing condos, the cost per square foot remains consistent, indicating that the floor plans of the condos are generally smaller than those of competing projects. The project’s location may suit individuals requiring swift access to other parts of the city or the airport, but may not be ideal for those seeking a more centrally located residence.

Why Work with us?

We enjoy full super-broker status with most of the developments. This means we get first access to information and inventory. As super brokers, we enjoy all the benefits of having this status but by using us you still get independent advice. We are not limited to just one project and are therefore providing you with what the entire market has to offer. We provide you with the pros and cons of the location and the floor plans and we will compare prices with other new and resale condos. There are subtle nuances when it comes to buying pre-construction and therefore it is essential you work with an independent agent who has 17+ years of experience in selling pre-construction. We know the reputation of developers, we know what to look out for and we know what questions to ask.

I have sold hundreds of new construction condos and resale condos over my career. I have provided independent advice about the new condo market for over a decade and I have observed consistent patterns and trends over that time. My experience will not only guide you towards the best unit but also protect you from terrible mistakes. I challenge you to quiz me on any building in any market. I will honestly give you the good, the bad, and the ugly no matter what the cost.

Want to know more?

You can schedule a meeting with me via the Calendly link below. You can also send me an email (David@siddonsgroup.com) or call me on my cell (305) 508-0899. If you want to know more about me, read my bio.