Cove Miami Secures $170M Construction Loan in Eleventh-Hour Financing Win
In a dramatic turn of events, Cove Miami—a highly anticipated 40-story luxury condominium planned for Miami’s Edgewater neighborhood—has officially secured a $170 million construction and land loan from Bravo Property Trust, an affiliate of Bravo Capital. The deal, announced in early September 2025, represents a major milestone for the project after weeks of uncertainty that left many in the industry questioning whether financing would come together. Despite launching sales roughly two years ago and reaching between 30 and 40 percent presales, the development team had faced significant challenges securing debt in today’s high-interest-rate environment.
Located at 456 NE 29th Street along Biscayne Bay, Cove Miami will rise 40 stories and bring 134 one- to four-bedroom residences to one of the fastest-growing districts in Miami. The design is a collaboration between Kobi Karp Architecture & Interior Design and Buenos Aires–based Dieguez Fridman, blending sleek glass architecture with bayfront living. Prices range from approximately $900,000 to nearly $4 million, appealing to a high-end buyer demographic in a market segment that continues to show strong demand despite broader economic headwinds. Completion of the project is currently slated for 2028.
Beyond its striking design and coveted location, Cove Miami promises an array of luxury amenities designed to elevate the resident experience. Plans include a waterfront infinity-edge pool with cabanas, a full spa with massage rooms, sauna, hammam, and cold plunge, as well as a state-of-the-art fitness center, indoor and outdoor yoga studios, and a rooftop lounge overlooking Biscayne Bay. Social and lifestyle features include a wine and library lounge, a private dining room with chef’s kitchen, a grand theater, and game rooms, while modern conveniences such as co-working spaces, private office suites, an on-site restaurant, dock access for water sports, and even LEAA on-demand healthcare highlight the project’s comprehensive approach to urban luxury living.
The $170 million financing package was arranged by Bravo Property Trust, a lending platform backed by Bravo Capital that has originated over $1.8 billion in loans since 2021. Bravo’s leadership highlighted the importance of backing experienced developers with bold, high-quality projects, underscoring confidence in Miami’s high-end condo market at a time when financing has become increasingly selective.
Cove Miami also arrives amid a broader development surge in Edgewater, a neighborhood that has transformed into one of Miami’s most desirable luxury condo markets. Just blocks away, Villa Miami, a branded tower by Major Food Group, is underway, while Oak Row Equities recently secured a $210.5 million construction loan for 2900 Terrace, a 38-story, 324-unit project. Together, these projects reflect both the resilience of Miami’s luxury housing market and the growing appeal of Edgewater as the city’s next major real estate hotspot.
The successful financing of Cove Miami signals more than just progress for one project—it demonstrates continued investor faith in Miami’s luxury condo market and in Edgewater’s rapid evolution. Despite an uncertain lending environment, determined developers and strategic financial partners are ensuring that some of the city’s most ambitious projects not only break ground but also redefine Miami’s skyline in the years to come.
Top 5 Mainland Miami Preconstruction Condo Development Most Likely to Break $4,000 Per Square Foot
Now the question becomes: what’s next? Which upcoming developments have the potential not only to follow in One Park Grove’s footsteps, but to push values into uncharted territory above $4,000 per square foot on the resale market?
While there’s no way to know for sure (preconstruction contracts aren’t publicly recorded until closings occur), here are the Top 5 mainland Miami preconstruction condo developments most likely to break $4,000 per square foot once they deliver and resales begin.
As one of the most anticipated launches in Miami, the St. Regis Residences Brickell checks nearly every box for record-breaking resale potential. Set on a prime waterfront site with private, gated access, the project pairs a world-class location with the cachet of the St. Regis brand—long synonymous with ultra-luxury hospitality.
Brickell, Miami’s financial district, continues to attract global wealth, and this development’s combination of exclusivity, waterfront views, and brand prestige make it a strong contender to cross the $4,000 per square foot line.
Coconut Grove has quietly emerged as Miami’s hottest neighborhood, with recent sales at One Park Grove proving just how high values can climb. Enter the Four Seasons Residences Coconut Grove, set directly across from Regatta Park, Dinner Key Marina, and Biscayne Bay.
Anchored by the prestige of the Four Seasons brand, the residences deliver sweeping water views of Biscayne Bay alongside Regatta Park and the marina, all within Coconut Grove’s highly walkable setting—an ideal formula for top-dollar resales. If One Park Grove can set new records, Four Seasons Residences Coconut Grove may be the project that takes the next leap.
Brickell Key is one of the most unique enclaves in all of Miami, and The Residences at Mandarin Oriental will rise on the last remaining waterfront lot there. With unmatched exclusivity, panoramic views, and the pedigree of the Mandarin Oriental brand, this project offers buyers a rare opportunity to own in a setting that cannot be duplicated.
That combination of scarcity, branding, and location could easily propel resales into the $4,000 per square foot range, especially as international buyers continue to favor turnkey, waterfront branded residences.
While not waterfront, Waldorf Astoria Residences Miami brings something entirely different to the table: height and history. Rising 100 stories, it will be the tallest skyscraper in Miami and the first supertall tower south of New York City.
As the first Waldorf Astoria branded residences in the city, the tower will redefine Miami’s skyline and create a true architectural icon. For collectors of rare, trophy properties, its cachet could easily translate into resales well above $4,000 per square foot.
The final entry on this list is 888 Brickell by Dolce & Gabbana, a bold new development that will stand as the tallest tower in Brickell (tied in height with Waldorf Astoria) and the first branded residence by the Italian fashion powerhouse.
While not on the water, its height, branding, and ultra-luxury positioning could attract global buyers seeking something unique. In a competitive luxury market, 888 Brickell’s mix of design, fashion, and visibility make it one of the strongest contenders to cross the $4,000 per square foot mark on resales.
Final Thoughts
The mainland Miami luxury condo market has already entered a new era, with One Park Grove proving that $3,000 per square foot is not only possible but repeatable. Looking ahead, the next great milestone will be $4,000 per square foot on resales—and these five projects are best positioned to get there first:
St. Regis Residences Brickell – waterfront exclusivity, St. Regis prestige
Four Seasons Residences Coconut Grove – Grove location, Four Seasons brand
Residences at Mandarin Oriental, Miami – last Brickell Key waterfront site
Waldorf Astoria Residences Miami – Miami’s first supertall skyscraper
888 Brickell by Dolce & Gabbana – tallest in Brickell, iconic fashion brand
In a city defined by constant reinvention, it’s only a matter of time before one of these towers rewrites the record books.
Condo Hunter: “Every Building Has a Vibe”
After more than four years in development, Condo Hunter has officially launched and is now available for download on both iOS and Android. Built exclusively for the Greater Miami condo market, Condo Hunter is designed to give buyers, renters, and investors a smarter, faster, and more efficient way to search condos.
To celebrate the launch, we’re debuting a promo video titled “Every Building Has a Vibe” — highlighting how every condo community has its own personality, and how Condo Hunter makes it easier than ever to find the one that matches yours.
Watch the video below:
Key Features of the Condo Hunter App
Condo Hunter offers features you won’t find in any other real estate app, making it the most complete toolkit for navigating Miami’s dynamic condo market:
Advanced Condo Search
Search by building, neighborhood, ZIP code, address, or MLS number — then refine your results with detailed filters like price, square footage, amenities, parking, and more.
Explore 450+ Buildings and 20+ Neighborhoods
Access real-time listings (active, pending, and closed) complete with floor plans, building stats, reviews, Walk Scores, and community insights.
Virtual Reality Lounge
Tour luxury condos virtually, anytime and anywhere — perfect for out-of-town buyers or quick previews.
Condo Market Stats
Track real-time sales and rental stats by building and neighborhood, including price per square foot, months of inventory, and more.
Preconstruction Hub
Uncover South Florida’s newest condo projects with sales inventory, downloadable brochures, fact sheets, and floor plans all in one place.
Proprietary Condo Rankings
Compare buildings using Condo Hunter’s exclusive six-point ranking system, giving you an unbiased, data-driven way to evaluate developments.
Smart Alerts & Favorites
Save searches and receive notifications when properties that match your criteria become available. You can also favorite properties, buildings, or neighborhoods — and even see what’s trending with community-driven “Tribe Favs”.
Market News & Insights
Stay up to date with curated news articles from MiamiCondoInvestments.com and videos from MiamiRealEstate.TV, covering everything from preconstruction launches to pricing trends.
Why Choose Condo Hunter?
Unlike generic home search apps, Condo Hunter is built specifically for condos — the heartbeat of Miami real estate. From iconic luxury towers to waterfront neighborhoods, the app provides an unmatched level of detail and insight, making it the ultimate resource for anyone looking to buy, rent, or simply stay informed about the South Florida condo market.
Download Condo Hunter Today
Condo Hunter is available now on both iOS and Android.
Whether you’re a buyer, renter, or investor — your hunt is over!
Miami Condo Market Slips Further in July 2025 as Sales Plunge
The Miami-Dade condominium market continued its downward slide in July 2025, highlighting the challenges facing sellers and the growing leverage of buyers. Total existing condo sales dropped a whopping 17.3% year-over-year, falling from 1,114 closings in July 2024 to 921 in July 2025. Meanwhile, condo inventory rose 31.34%, climbing from 9,775 to 12,838 active listings during the same period. The months of supply for existing condominiums now stands at 14.1 months, signaling a strong buyer’s market across most price points.
Local Economic Impact Drops by $43.86 Million
Beyond the raw sales numbers, the downturn in Miami’s housing market—especially condos—also had a significant impact on the broader local economy. According to the National Association of Realtors, each residential real estate transaction generates approximately $129,000 in local economic impact. This figure includes money spent on real estate commissions, mortgage lending, title services, inspections, appraisals, remodeling, furniture, and additional consumer spending associated with moving.
In total, 340 fewer homes (houses + condos) were sold in July 2025 compared to July 2024 (2,122 vs. 1,782 total transactions). Multiplying that drop by the estimated $129,000 in economic output per home yields a $43,860,000 decline in local economic impact—a significant hit to Miami’s real estate–related industries and small businesses.
This sharp decline underscores how a housing market slowdown doesn’t just affect buyers and sellers—it ripples through the entire local economy, touching contractors, movers, interior designers, lenders, and countless others whose livelihoods are tied to property transactions.
Buyers in Control, Sellers Under Pressure
With over a year’s worth of supply and weakening demand, buyers are firmly in the driver’s seat. The elevated inventory provides ample room to shop, negotiate, and secure concessions. Meanwhile, sellers—especially those listing older or overpriced condos—face intense competition and must price aggressively to stand out.
Glimmers of Optimism: Rate Cuts on the Horizon?
Despite the sobering sales and inventory numbers, there is renewed optimism that market conditions could improve soon. Analysts now project a high likelihood—roughly 88%—that the Federal Reserve will cut interest rates at its next meeting in September. If that cut materializes, it could bring down mortgage rates, boost buyer confidence, and help absorb some of the excess condo inventory across Miami-Dade.
Lower borrowing costs could reignite interest among first-time and move-up buyers alike, especially those who were previously sidelined by affordability concerns or stricter lending standards for certain buildings.
Bottom Line:
The Miami condo market in July 2025 showed signs of further deterioration, with double-digit sales declines, rising inventory, and a staggering $43.86 million drop in local economic activity. But with a likely Fed rate cut on the near horizon, the market could get a much-needed jolt in the months ahead—offering hope to both buyers and sellers navigating this shifting landscape.
Miami Home Prices Down 18% Since Peak, Realtor.com Reports
According to a new housing report released today by Realtor.com, Miami stands out as one of the U.S. metros experiencing the steepest year-over-year declines in home prices. The national real estate platform analyzed data from the 50 largest metropolitan areas in the country and found that while home prices across the U.S. remain relatively stable overall, regional disparities are growing wider. Miami, in particular, has seen a significant pullback, with its median list price dropping nearly 18% since peaking in July 2022. This marks one of the largest three-year price corrections among all major U.S. housing markets.
In July 2025, Miami’s real estate market continued to soften, with homes taking longer to sell and more sellers adjusting their expectations. The report notes that properties in Miami are now sitting on the market an average of 16 days longer compared to this time last year, reflecting a shift in supply-demand dynamics. While the national median list price held steady year-over-year, Miami saw a sharp decline, driven by waning buyer urgency, rising insurance premiums, and lingering affordability challenges. Additionally, the percentage of homes with price reductions increased nationwide, with 20.6% of active listings featuring a cut in July. This trend is especially pronounced in the South and West, where cities like Miami, Austin, Tampa, and Phoenix continue to recalibrate from their pandemic-era highs.
One notable factor behind Miami’s price correction is the growing pressure on the condo segment. Condominiums represent a large portion of Miami’s housing inventory, particularly in the urban core and waterfront neighborhoods. Rising insurance costs, heightened HOA dues, and new regulatory changes affecting older buildings have all contributed to weakening demand in this category. As a result, many condo sellers are either reducing their prices or choosing to temporarily delist their properties. According to Realtor.com’s data, delistings have surged 47% year-over-year nationwide as sellers in slower markets pull back, unwilling to compromise on pricing in a changing environment.
For prospective buyers in Miami, the current market presents a window of opportunity. Inventory levels have returned to or exceeded pre-pandemic levels in many parts of the metro, giving buyers more choices and stronger negotiating power. This environment is particularly advantageous for those willing to act while prices remain soft and competition is muted. On the flip side, sellers who remain anchored to 2022 pricing may struggle to attract offers unless they adjust to today’s market realities. In some cases, sellers are opting to withdraw their listings and wait for a potential market rebound in the future.
In summary, Miami remains one of the most closely watched housing markets in the nation due to its dramatic price swings and unique inventory composition. As of July 2025, the metro’s median list prices have fallen nearly 18% from their peak, properties are sitting longer, and sellers are increasingly forced to adjust or step back. While this represents a challenge for some, it may also signal a healthy rebalancing—one that could open new doors for well-prepared buyers. Whether this trend continues into the busy fall season will depend on interest rates, insurance reforms, and broader economic sentiment.
Florida Appeals Court Upholds Holdout Owners’ Rights at Biscayne 21, Setting Major Precedent for Condo Terminations
In a major win for Florida condo owners, the state’s Third District Court of Appeal ruled in favor of a group of unit owners at Biscayne 21, a 13-story, 192-unit condominium complex in Miami’s Edgewater neighborhood. The court upheld a previous decision that invalidated a developer-led amendment to the condo’s governing documents, which had attempted to lower the required vote to terminate the condominium from 100% to just 80%. On July 10, 2025, the court denied a motion for rehearing, affirming that the original declaration of condominium required unanimous approval to terminate the association and could not be modified unilaterally.
The case, brought by eight unit owners represented by attorney Glen Waldman, challenged the termination plan led by Two Roads Development and its affiliate, Empira Group. The developer had acquired 86% of the units in a $150 million bulk buyout and sought to redevelop the property into a luxury condo project—Edition Residences Edgewater. After several owners refused to sell, the developer-controlled board amended the termination clause, a move the court ruled violated the contractual rights of the remaining owners.
The appellate court’s decision not only preserves the rights of the Biscayne 21 holdouts but also establishes a significant precedent with potential statewide implications. According to legal experts, the ruling confirms that developers cannot retroactively change essential voting rights in a declaration—particularly when it involves something as consequential as terminating a condominium association. The decision is expected to complicate bulk buyout efforts across Florida, especially in cases where the original governing documents require unanimous consent for termination.
For developers, this decision adds a new layer of legal risk when pursuing aging condo properties for redevelopment. Florida has seen a wave of such efforts in recent years, especially following the collapse of Champlain Towers South in Surfside, which raised concerns about aging buildings and spurred legislative changes. However, this ruling signals that even amid redevelopment pressures, courts are willing to protect owners’ contractual rights and block attempts to dilute those protections.
Two Roads Development has stated its intention to appeal the decision to the Florida Supreme Court. However, until or unless the state’s highest court overturns the appellate ruling, the current decision stands as binding precedent. The outcome strengthens the position of holdout owners and may force developers to offer more favorable terms—or abandon termination plans altogether.
Ultimately, this case underscores the importance of understanding and respecting the original terms set forth in a condominium’s declaration. Boards and developers alike must tread carefully when altering foundational governance provisions. As Miami’s real estate market continues to evolve, the Biscayne 21 ruling will likely influence how future terminations are approached—not just in Edgewater, but throughout the state.
The Alley: A Boutique Preconstruction Opportunity in Miami’s Booming Little River
Miami’s Little River neighborhood is experiencing a renaissance—and The Alley is at the forefront of it. This boutique, 5-story condo development is the first lodging building in Little River to be offered for individual ownership, giving early investors the chance to claim a stake in one of the city’s most exciting up-and-coming districts.
Developed by Saxum International—an experienced and visionary team known for reshaping Little River’s residential landscape—The Alley offers 50 fully finished junior studios starting from just $315,000. Designed for maximum flexibility and rental potential, each residence is optimized for short-term stays with thoughtful layouts, clean modern finishes, and optional division for added guest privacy. Residences range from 358 to 382 square feet, with east and west-facing views and a payment structure tailored to ease: 20% at contract, 20% at groundbreaking, 10% at the third floor, and 50% at delivery in Q3 2026.
The building is rich in features that appeal to today’s traveler and digital nomad. Highlights include a rooftop coworking lounge, high-speed WiFi throughout, 24/7 parking for residents and guests, and vending machines for added convenience. HOA dues are a modest $1.37 per square foot and include reserves, making The Alley a hassle-free income-producing asset.
What makes The Alley truly special, however, is its location. Nestled at 183 NE 78th Street, residents will enjoy seamless access to the creative pulse of the city. The buzzing Wynwood Arts District is just 7 minutes away, the high-fashion Design District in 8, and Midtown Miami in 10. Even Downtown, Brickell, and Miami International Airport are within a 20-minute drive. And with a future Tri-Rail station planned as part of Swerdlow Group’s massive 7,500-unit development, Little River’s connectivity is only going to get better.
This is more than just a smart investment—it’s a front-row seat to transformation. With over $3 billion in approved development, Little River is evolving into Miami’s next cultural and investment hub. Projects from heavyweights like AJ Capital Partners, B Developments, and CEDARst Companies are bringing thousands of new residences, retail destinations, and creative spaces to the area. Property values here are appreciating faster than in more saturated markets like Brickell or Miami Beach.
If you’re looking for a high-yield opportunity in a neighborhood poised for explosive growth, The Alley delivers. With limited inventory, rising demand for short-term rentals, and a future-proof location, this is your chance to get in early on Miami’s next big thing.
Contact us today at [email protected] to schedule a presentation or to reserve your unit at The Alley.
David “Big Papi” Ortiz Inks Deal for Luxury Condo at Ora by Casa Tua in Brickell
According to the New York Post, MLB Hall of Famer David Ortiz—affectionately known as “Big Papi”—is officially in contract to purchase a three‑bedroom, three‑bath condo at Ora by Casa Tua, a 76‑story luxury preconstruction condo tower in Brickell Miami. The unit spans 2,297 square feet of elegantly appointed interiors—including a study and library—with a sprawling 472-square-foot terrace, offering panoramic bay and city views. Though the exact purchase price remains undisclosed, comparable residences in the building range between $3.35 to $3.75 million.
Ora by Casa Tua is a visionary luxury development rising in the heart of Brickell. Developed by Fortune International Group in partnership with Casa Tua founder Miky Grendene, the 76-story tower is designed by world-renowned architecture firm Arquitectonica, with interiors curated by Italian design studio m2atelier. Scheduled for completion in 2029, the tower blends high-end residential living with Casa Tua’s signature hospitality and culinary excellence. Residents will enjoy a comprehensive suite of amenities, including two swimming pools—one on the 12th floor and another on the rooftop—wellness facilities with hammam, steam room, sauna, and a state-of-the-art fitness center. The building also features co-working spaces, social lounges, and a three-story sky park with lush gardens, yoga lawns, and art installations. At the heart of Ora is a dining experience curated by Casa Tua, offering four distinct concepts: Terra, a gourmet market and bakery; Uva, a two-level enoteca and Mediterranean restaurant; Fuoco, a globally inspired wood-fired grill; and Vento, a rooftop bar and lounge offering sweeping views and private dining options. Perfectly located at 1210 Brickell Avenue, Ora offers future residents walkable access to the financial district, fine dining, and the vibrant culture that defines Miami’s urban core.
David Ortiz is a celebrated MLB legend and Boston Red Sox icon. Over a 20‑season career, Ortiz amassed over 500 home runs and helped lead the Red Sox to three World Series titles, earning the 2013 World Series MVP. Inducted into the Baseball Hall of Fame in 2022, Ortiz continues making his mark — notably as an MLB analyst on ESPN, where he brings his signature charm and insight to broadcasts. Beyond baseball, his philanthropic efforts—especially through the David Ortiz Children’s Fund—highlight his ongoing commitment to community and charity.
City of Miami Beach Planning Board Approves Terra’s Redevelopment Plans for The Deauville Beach Resort
David Martin’s development firm Terra, in collaboration with the Meruelo family, has received a significant approval from the City of Miami Beach’s Planning Board to move forward with the redevelopment of the former Deauville Beach Resort. The unanimous decision allows the developers to proceed with their vision of transforming the site at 6701 Collins Avenue into an elegant mixed-use project featuring two condominium towers and a partially reconstructed Deauville Beach Resort.
The approved plan includes a branded 100-unit condominium tower and a 150-room hotel, designed by Foster + Partners, Shulman + Associates, and ODP. This reimagined development reflects a strategic reduction from the originally proposed 570 residential units, favoring a more community-oriented design while preserving the area’s character.
Unlike previous proposals, the new plan does not require a public referendum, expediting the potential approval process and paving the way for construction to commence in 2026.
The Deauville Beach Resort, originally built in 1957, was a beloved Miami Beach landmark known for its Mid-Century Modern design and for hosting legendary performances, including The Beatles’ iconic 1964 appearance. However, after years of neglect, the structure was deemed unsafe and ordered for demolition in 2022.
Several redevelopment attempts have failed in the past. Notably, billionaire Stephen Ross and his firm Related Companies proposed a $500 million Equinox-branded development designed by Frank Gehry, but the project was ultimately rejected by voters due to zoning concerns.
Now, with this latest approval, Terra and the Meruelo family’s vision for the reimagined Deauville Beach Resort is one step closer to reality, promising to revitalize North Beach and contribute to Miami Beach’s evolving architectural landscape.
With the City of Miami Beach’s Planning Board approval secured, Terra’s team will move forward with securing necessary permits and refining their design. If all goes according to plan, construction will break ground in 2026, setting the stage for a transformative addition to Miami Beach’s waterfront skyline.
