Revault Miami: A Luxury Car Condo and Padel Club Coming to Little River

Newgard Development Group, spearheaded by developer Harvey Hernandez, has announced plans for Revault Miami, a luxury car condo community set to rise in Miami’s Little River neighborhood. The project represents a bold new concept for Miami’s urban landscape, combining high-end, climate-controlled garages with exclusive lifestyle amenities.

Revault Miami will occupy a 1.2-acre site at 7400–7410 NE Miami Court, 40 NE 75th Street, and 19 NE 74th Street, which Newgard acquired for $8.2 million. The 16-unit development is designed with car collectors in mind, offering private garages with 22-foot ceilings that can accommodate up to nine vehicles per unit using vehicle stackers. The residences will be more than just storage—they will serve as stylish studios where owners can enjoy their collections in a curated, community-oriented setting.

In addition to its unique automotive focus, Revault Miami will feature a suite of luxury amenities. The second floor is planned to include an indoor padel club with four courts, lounges, a café, sauna, steam rooms, and event spaces. A members’ lounge and concierge services will further elevate the experience, offering both convenience and exclusivity. Hernandez noted that his inspiration came from his own experience as a car collector, seeking a place that was more intimate and community-driven than a large industrial warehouse.

Sales for Revault Miami are expected to launch in the coming weeks, with construction slated to begin next year. The buildout is anticipated to take about one year, making the project a relatively swift addition to Miami’s evolving skyline.

The choice of Little River underscores the area’s growing importance as a hub for innovative development. Once overlooked, this neighborhood has been gaining attention thanks to its proximity to Miami Beach, Bay Point, Morningside, and Miami Shores, as well as major mixed-use projects in the pipeline. Revault Miami will join a wave of new construction that is reshaping the district with a mix of residential, retail, and lifestyle offerings.

For Hernandez and Newgard Development Group, Revault Miami continues a track record of forward-thinking projects that push the boundaries of Miami real estate. Known for developments like Lofty Brickell, Natiivo, and The Standard Residences Brickell, Newgard has consistently targeted buyers seeking unique lifestyle experiences. Revault Miami reflects that same ethos, catering to Miami’s thriving luxury car culture while introducing an entirely new kind of residential product.

By blending the worlds of car collecting, wellness, and social spaces, Revault Miami is set to become a destination for enthusiasts and a catalyst for further growth in Little River. With sales approaching and construction expected to begin soon, the project promises to be one of the most distinctive new developments to hit Miami’s real estate market.

Colette Brickell: Meta Development Plans Boutique 38-Residence Condominium on Brickell Avenue

Earlier today, I drove past a development site at 1870 and 1880 Brickell Avenue and noticed new construction signage along the perimeter fencing. While the signage only displayed the Meta Development name, this site is expected to become Colette, an exclusive 38-residence condominium in Brickell. According to prior announcements, sales were slated to begin in September 2025, though no official launch date has yet been confirmed.

A Boutique Luxury Offering

Colette is planned to feature three- and four-bedroom residences starting at 1,900 square feet, with layouts designed for spacious city living. The project will also include two penthouses, each offering expansive layouts and elevated vantage points over Brickell and glimpses of Biscayne Bay between the surrounding towers.

The building has been designed by OSPA (Porto Alegre, Brazil), known for blending natural materials with modern architecture. Colette’s design incorporates greenery, concrete, wood, and glass for a contemporary aesthetic that balances warmth with sophistication. Future residents will enjoy curated wellness and leisure amenities tailored to the modern Miami lifestyle.

Developer Track Record

Meta Development is also the team behind Opus Coconut Grove, another boutique luxury project that has gained attention for its scale and architectural pedigree. With Colette, the developer is expanding its portfolio into Brickell, bringing a similarly thoughtful approach to design and exclusivity.

Why Brickell?

As Miami’s financial and cultural hub, Brickell continues to attract buyers seeking a mix of waterfront living, walkability, and a vibrant urban lifestyle. The neighborhood is home to high-end dining, luxury hotels, and international businesses, making it one of the most desirable addresses in the city. Colette’s location on Brickell Avenue offers proximity to Biscayne Bay while still being steps from the neighborhood’s energetic core.

Colette at a Glance

• Developer: Meta Development (developer of Opus Coconut Grove)
• Architect: OSPA (Porto Alegre, Brazil)
• Location: 1870 & 1880 Brickell Avenue, Miami, FL
• Residences: 38 total, including 2 penthouses
• Layouts: 3–4 bedrooms
• Sizes: Starting from 1,900 square feet
• Sales: Previously slated to launch in September 2025 (no official date confirmed)

Final Thoughts

With just 38 residences, Colette is poised to offer rare exclusivity in the Brickell market. While no firm sales launch date has been announced, the recent site activity and past announcements indicate that Meta Development is moving forward with its plans for this highly anticipated condominium.

30-Year Fixed Mortgage Rate Dips Below 6.50% for the First Time Since October 2024

In a significant development for the housing market, the average 30-year fixed mortgage rate has dipped below 6.50%—a threshold not seen in nearly a year. According to Mortgage News Daily’s daily index, this is the first time rates have fallen under 6.50% since October 3, 2024, when the rate briefly hit 6.49%.

Why This Matters

This drop is more than symbolic. Since July 29, 2025, when the 30-year fixed rate stood at 6.77%, rates have fallen 0.28 percentage points, landing today, September 3, 2025, at 6.49% following a brief uptick to 6.53% on Monday. The movement reflects improved economic signals, softening inflation, and increased investor demand for Treasurys—all of which are contributing to lower mortgage-backed securities yields and, in turn, more favorable mortgage pricing.

What This Means for Buyers & Refinancers

• Increased Affordability: A rate of 6.49% allows buyers to qualify for more home—about $20,000 more in purchase price for the same monthly payment compared to when rates were near 7%.
• Refi Opportunity: Homeowners with rates above 7% could save $150–$250/month on a $300,000 loan by refinancing at today’s levels.
• Market Confidence: Sub-6.50% rates may renew confidence among sidelined buyers, potentially boosting fall home sales activity.

What’s Driving the Drop

Several factors have contributed to the 0.28-point decline over the past month:

• Weaker job growth in July, signaling an easing labor market
• Stable Treasury yields near 4.2%, driven by investor demand and recessionary caution
• Speculation that the Fed may begin loosening monetary policy sooner than previously expected

⏳ A Narrow Window?

Industry experts don’t expect rates to plummet, but they do see the possibility of further modest declines if economic data continues to soften. Most forecasts peg rates in the 6.25%–6.75% range through the remainder of 2025. This drop below 6.50% could prove temporary if inflation surprises to the upside or the bond market reverses course.

Historical Context

Final Thoughts

Whether you’re house hunting or considering refinancing, a rate below 6.50% offers rare breathing room in today’s high-price housing market. With fall inventory expected to pick up, now may be the moment to act. Locking in a favorable rate today could pay dividends for years to come.

Miami Police Department Creates East District, Adding 300 Officers to Brickell, Downtown & Edgewater

Miami is entering a new era of public safety. In late August 2025, Miami Police Chief Manny Morales announced the formation of a new East District, consolidating Brickell, Downtown, and Edgewater into one unified zone handling approximately 120,000 service calls annually.

To strengthen response capabilities and visibility, the department plans to hire 300 new officers over the next three years, assigning many to this new district. Chief Morales expects the East District to be fully operational by the end of 2025.

The Downtown Development Authority is supporting the effort with enhanced surveillance infrastructure, funding for overtime, and even a drone to bolster public safety efforts.

What This Means for Brickell, Downtown & Edgewater

1. Enhanced Safety & Visibility

• More boots on the ground: Expect greater street presence, with officers patrolling on foot, scooters, and bikes.
• Deterrence through presence: Police visibility encourages more people to get out and enjoy their neighborhoods.

2. Faster, Smarter Response

• With dedicated staffing and new technology, response to violent incidents — such as the recent stabbing at Icon Brickell Tower 3 or April’s shooting near Brickell City Centre — should improve.

3. Greater Community Investment

• The Downtown Development Authority’s involvement signals investment in long-term city safety infrastructure — not just policing, but tools like cameras and drones.

Potential Trade-offs & Concerns

1. Budget Pressure & Resource Allocation

• Approving funding for 300 new officers (~100 per year through 2028) will likely require creative budgeting — potentially from federal grants or reallocating city funds.
• Without community input, some residents may worry this investment sacrifices other pressing needs like affordable housing or parks.

2. Community Trust & Oversight

• Miami’s police department has a documented history of oversight challenges, including reform efforts stemming from a 2016 consent decree with the DOJ over excessive force.
• Expanding staffing without reinforcing accountability, transparency, and community policing might undermine trust.

3. Equity & Neighborhood Disparities

• Brickell is dense, affluent, and highly visible. By contrast, Edgewater, while growing fast and appealing with historic and luxury developments, has fewer resources and less political clout.
• Ensuring equitable distribution of officers and services — especially to under-resourced communities — will be key.

Final Thoughts

Miami’s launch of the East District marks a bold statement: the city is scaling its public safety infrastructure to match rapid urban growth. For residents and businesses in Brickell, Downtown, and Edgewater, this could mean fewer crime fears, safer streets, and enhanced neighborhood confidence.

But the success of this initiative won’t hinge on headcount alone. It will depend on equitable deployment, transparent oversight, and robust community engagement to reinforce trust — especially in neighborhoods like Edgewater that are rapidly evolving but historically underserved.

Understanding Real Estate Statuses: “Pending” vs. “Contingent” (and Why It Matters)

In real estate, when a home is listed as under contract, it means the seller has accepted an offer but the sale has not yet closed. At this stage, the property will typically be labeled as either contingent or pending. Both terms indicate the home is under contract, but they signal very different points in the transaction: contingent means certain conditions still need to be met, while pending means those conditions have been satisfied and the deal is moving toward closing. Knowing the difference between contingent and pending can help buyers and sellers better understand where a property stands in the sales process.

What Does “Pending” Mean?

In real estate lingo, when a home is listed as pending, it means:

• The seller has accepted a buyer’s offer.
• All contingencies—inspection, financing, appraisal, title, etc.—have been successfully satisfied.
• The transaction is deep into the escrow process, with closing the only next step.

Important details:

• It’s not officially sold yet, meaning there’s still a slight chance the deal could fall through.
• Common reasons deals collapse even at the pending stage include financing denial, inspection issues, low appraisals, title problems, or buyer’s change of heart.
• The property might remain listed for 30–60 days, although cash buyers may close sooner.

Can You Still Make an Offer?

• Usually, once a house hits pending, the seller stops accepting offers unless there’s a kick-out clause or they explicitly welcome backup offers.

What Does “Contingent” Mean?

A listing marked contingent means:

• The seller has accepted an offer, but one or more conditions (contingencies) must be satisfied before the sale can proceed.

Common Contingencies Include:

• Mortgage contingency: Gives the buyer time to secure financing.
• Inspection contingency: Allows backing out if serious issues surface during inspection.
• Appraisal contingency: Protects buyers if the home’s appraised value is below the purchase price.
• Title contingency: Lets buyers walk away if there are liens or title disputes.
• Home sale contingency: Allows the buyer time to sell their own home first.

Contingent Listing Sub-Types:

• Contingent: Continue to Show (CCS) – The seller continues showing the property and may accept offers.
• Contingent: No Show – Seller stops showing, but contingencies aren’t yet cleared.
• Contingent with or without Kick‑Out Clause – Kick‑out clause lets the seller stay open to better offers; without it, the buyer has more time.
• Contingent: Short Sale or Probate – Specialized scenarios involving lender approval or estate settlement.

Can You Make an Offer on a Contingent House?

Yes—especially in a CCS scenario—your offer might position you favorably if the first deal doesn’t close.

Contingent vs. Pending: Side-by-Side Comparison

FAQ: Contingent vs. Pending in Real Estate

Q: What does it mean when a home is under contract?

A home listed as under contract means the seller has accepted an offer, but the sale hasn’t closed yet. At this stage, the listing will usually be marked contingent or pending.

Q: What is the difference between contingent and pending?

Contingent means the sale depends on certain conditions being met, such as financing or inspection. Pending means those conditions are cleared and the home is moving toward closing.

Q: Can I make an offer on a contingent home?

Yes, sometimes. If the listing is marked “Contingent: Continue to Show” or has a kick-out clause, sellers may still accept backup offers.

Q: Can a pending sale still fall through?

Yes, though it’s less common. Pending sales can collapse due to financing issues, appraisal problems, or title disputes, but most make it to closing.

Miami Luxury Real Estate 2025: Cash Remains the Rule in an Ultra-High-End Market

In an article published yesterday, Realtor.com highlighted a striking reality in Miami’s upscale real estate market: cash continues to dominate luxury home transactions, especially at the highest price tiers. This pattern underscores a unique dynamic where financial flexibility—more than ever—drives market strength and seller confidence in the region.

Key Insights from Realtor.com:

• All-cash transactions are now the norm in Miami’s luxury segment:
  • Homes priced between $1M–$5M see 53.5% cash sales.
  • Properties above $10M are purchased with cash nearly 59% of the time.
• Ultra‑luxury condos and homes are overwhelmingly cash purchases:
  • 83% of condos priced over $2,000 per square foot sold for cash.
  • 79% of high-end single-family homes were cash transactions.
• Transaction volumes have soared compared to pre-pandemic levels:
  • Condo sales over $2,000/square foot increased 631%.
  • Single-family luxury sales are up a staggering 1,200%.
• Miami’s luxury listings are booming:
  • The metro area had nearly 50,000 active listings in July, with over 20% priced at $1M or more—far above the national average of 13.8%.
• Sellers are showing unusual patience:
  • Luxury homes linger longer—median days on market: 96.5 days, longer than in markets such as New York or Los Angeles.
  • Many sellers opt to delist rather than lower prices, maintaining confidence in Miami’s cash-rich buyer pool.
• The role of international and cash buyers is pivotal:
  • High-net-worth individuals from around the world look to Miami as a safe, desirable investment—favoring speed, convenience, and privacy over financing.

Market Implications & Context

These all‑cash trends reinforce Miami’s reputation as a global luxury real estate powerhouse—especially when viewed alongside broader market dynamics:

• Miami is among a handful of metros with year-over-year home price declines, yet the luxury segment remains resilient.
• Delistings remain elevated, reflecting strategic pricing confidence among sellers—even amid cooling demand. Miami had 27 delistings per 100 new listings in May—one of the highest rates nationwide.
• Gables Estates in Coral Gables recently overtook Beverly Hills as the most expensive U.S. neighborhood, highlighting Miami’s growing muscle in ultra‑luxury markets.

Top 5 Mainland Miami Preconstruction Condo Development Most Likely to Break $4,000 Per Square Foot

Earlier this week, I reported that One Park Grove became the first mainland Miami condo development to break the $3,000 per square foot threshold for resales (not including pre-construction contracts)—and it did so not once, but three times in the past 12 months. That milestone signaled a shift in the pricing power of Miami’s mainland luxury market, one that many thought was still years away.

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.

1. St. Regis Residences Brickell

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.

2. Four Seasons Residences Coconut Grove

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.

3. The Residences at Mandarin Oriental, Miami

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.

4. Waldorf Astoria Residences Miami

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.

5. 888 Brickell by Dolce & Gabbana

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.

Miami Leads Florida in New Apartment Construction for 2025

Miami is set to welcome the largest share of Florida’s new rental apartments in 2025, cementing its position as one of the nation’s busiest development hubs. According to RentCafe’s latest Apartment Construction Report, the Miami metro is projected to add 15,666 new apartments this year—just over one in every four new rentals in Florida (~25.2%).

Miami Takes the Lead in Florida

Florida ranks #2 in the nation for new apartment deliveries, with 62,184 units expected to open statewide in 2025. Among Florida’s metros, Miami leads the charge with 25.2% of the state’s pipeline. Within the Miami metro:

• Miami proper tops the list with 5,301 units
• Fort Lauderdale, Hollywood, and Hialeah follow as other major contributors

To put this into perspective, Miami alone is set to deliver more apartments than Tampa and Jacksonville combined, underscoring the region’s outsized role in Florida’s housing supply.

Miami in the National Rankings

Nationally, the U.S. expects over 500,000 new apartments to hit the market in 2025. The Miami metro ranks 7th nationwide for expected completions—building nearly as much as entire states like Washington or Tennessee.

Despite its strong showing, Miami’s pipeline is 28% smaller than 2024’s record levels, reflecting a natural cooldown after years of rapid expansion. Developers appear to be pulling back slightly as interest rates, construction costs, and shifting demand reshape the landscape.

Will More Apartments Make Renting in Miami Affordable?

The critical question for renters: will this influx of new apartments ease prices in one of the country’s most expensive rental markets?

While more supply typically helps stabilize rents, Miami’s unique dynamics complicate the picture:

• High demand from domestic and international movers keeps pressure on pricing.
• Luxury-focused development means many of the new apartments target higher-income tenants rather than workforce housing.
• Slower pipeline compared to 2024 may limit downward pressure on rents.

That said, as thousands of units come online, renters may see more concessions—like one month free or reduced deposits—especially in highly competitive submarkets. The effect may not be a dramatic drop in rents, but rather a slight cooling of Miami’s rapid rental growth.

Key Takeaway

With just over one in four of Florida’s new rentals rising in Miami, the city remains at the forefront of the state’s housing boom. For renters, the additional supply could bring some relief—but Miami’s sky-high demand suggests affordability will remain a pressing issue well into 2025.

Urban Institute: South Florida Will Face $5.7 Billion in Annual Climate Damage by 2050

A recent Urban Institute analysis, using FEMA’s Future Risk Index, projects that extreme weather events could inflict more than $5.67 billion in annual damage by 2050 across Miami-Dade, Broward, and Palm Beach counties. These alarming projections highlight Southeast Florida’s increasing vulnerability to climate change—and signal serious consequences for residents, property markets, and the insurance industry.

County-Level Impact: What’s the Breakdown?

According to the Urban Institute’s county-level projections, Southeast Florida is set to bear some of the heaviest costs in the nation by mid-century:

• Broward County: approximately $1.95 billion annually
• Palm Beach County: approximately $1.88 billion annually
• Miami-Dade County: approximately $1.84 billion annually

Together, these counties could face more than $5.67 billion in annual climate damage by mid-century—driven by dense population, high-value coastal property, and growing exposure.

Insurance Costs Already Soaring

Florida already experiences some of the highest homeowners’ insurance costs in the United States. According to Bankrate.com, the average annual premium in the state is $5,400, which is nearly $3,100 more than the national average—making Florida the second most expensive state for home insurance.

Dual Threat for Miami-Dade Property Owners

Miami-Dade faces a double burden: rapidly escalating climate vulnerabilities and already stratospheric insurance costs. As projected damage increases, insurers may further retrench or raise premiums, worsening affordability—especially in flood-prone coastal neighborhoods. This dynamic threatens to suppress housing demand and pressure property values in one of the country’s most lucrative real estate markets.

What This Means for Southeast Florida: Beyond the Dollar Signs

1. Rising Sea Levels & Storm Surge Risks

Miami-Dade County’s strategy forecasts 10–17 inches of sea level rise by 2040, intensifying flood risk to infrastructure and low-lying communities.

2. Economic Strain from Extreme Heat

Today, heat and humidity already shave $10 billion annually off Miami’s economic output. By 2050, these losses could double as climate impacts worsen.

3. Ecosystem Threats: Mangroves & Coastal Buffers

Mangroves—critical for mitigating storm surge and sequestering carbon—are under threat, even as their northward migration underscores shifting climate zones. Loss of these natural barriers could heighten vulnerability to storm surge damage.

4. Vulnerable Communities & Climate Displacement

Low‑income and minority communities—often residing in flood-prone areas—face disproportionate risks. Rising costs and physical damage can lead to displacement, housing instability, and gentrification pressures in neighborhoods like Little Haiti.

5. Challenges for Insurance & Financial Resilience

With premiums already high and insurers increasingly cautious, homeowners—especially in high-risk areas—may face limited coverage options, spiking costs, or policy cancellations.

Why Policymakers and Real Estate Stakeholders Should Pay Attention

• Sheer Scale of Risk
  Over $5.67 billion/year in potential damage is a staggering figure—one that demands serious adaptation strategies.
• Equity Implications
  Without deliberate, inclusive planning, vulnerable populations will be on the frontlines of climate and financial wear.
• Adaptation Pays Dividends
  Preemptive investment in flood protection, smart infrastructure, and resilience initiatives can mitigate costs and protect real estate value.