# Centralis Residences Miami: resale prices, rental rules

> Source: https://bluebaybrokers.com/buildings/centralis-residences
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-16
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

## The bet

Centralis Residences is a 100-unit Little Havana rental built in 2023 that Gamla Cedron is now selling as condominiums from $334,000, and the number that decides it is $471 to $516: what condominiums in its two price bands closed at per foot across the submarket this year, against a median $524 asked here. The two-bedrooms ask less than that band; the one-bedrooms carry a new-building premium of about 11 percent.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 100 all at once, to the same buyer pool

Closings per year 162 trailing 12 months, 33128, 33135, 33125, 33130, same band

Years of supply 0.6 this building alone

Band closes at $468/sf median of real closings, not asks

| Band, 33128, 33135, 33125, 33130 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $300K – $400K | 77 | $370,000 | $468 |
| $400K – $500K | 85 | $450,000 | $473 |

**A small building in a deep band**

100 residences against 160 closings a year in its two bands across 33128, 33135, 33125 and 33130 is about seven months of demand, so the submarket can take the whole building. The postcode alone is thin: 33128 closed three homes in these bands all year, which is why the study measures the submarket. Sales opened in November 2025; the MLS shows four contracts pending and no recorded closing, and the County still lists the site as its land plat. The board runs 16.3 months of supply, a buyer's market.

## The market it lands in

Everything for sale in 33128, 33135, 33125, 33130 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 763 homes listed across 33128, 33135, 33125, 33130

Sold, trailing year 566 recorded closings, every price

Months of supply 16.2 under 6 favours sellers, over 12 favours buyers

Asking vs sold $613/sf asked, against $478/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33128, 33135, 33125, 33130 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $902/sf median of 7 closings this year

Movement since -8.1% across recently delivered buildings

This building asks $537/sf entry residences

Entry vs new stock -40% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 1 | withheld, 1 sale |
| 2024 | 1 | withheld, 1 sale |
| 2025 | 7 | $982 |
| 2026 | 7 | $902 |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking

$463–$537/sf

Developer price list, October 2026: ten vacant residences, one-bedrooms $339,700 to $379,700 on 639 to 716 sf, two-bedrooms $439,000 to $489,700 on 912 to 1,057 sf, plus two and a half years of association fees credited to the buyer · from $334,000 on the MLS for a leased unit

Band closes at $468/sf $300K – $400K, trailing 12 months

Listed here today 5 median $524/sf

**Where it asks, against what the band pays**

One-bedrooms ask $334,000 to $375,000 on 622 to 716 sf, two-bedrooms $445,000 to $470,000 on 1,057 sf, a median $524 a foot across the five active listings. Condominiums in the submarket closed at $471 a foot between $300,000 and $400,000 and at $516 between $400,000 and $500,000; the band cards above include houses. The two-bedrooms at $421 to $445 a foot ask less than the band pays. The delivered-cohort card is West Brickell towers at $900-plus, not a comparable. Per-foot figures use MLS area.

## On the MLS today

5 listings at this address are Active right now, pulled 2026-10-16. Leases are excluded: a monthly rent sitting in the price column wrecks any comparison. This is what a buyer can actually transact on today, as opposed to what a price list says.

| Unit | Bd/Ba | Interior | Asking | $/sf | HOA / mo | Days |
|---|---|---|---|---|---|---|
| [502](https://bluebaybrokers.com/listing?mls=A11909826) | 1/1 | 622 sf | $334,000 | $537 | $523 | 273 |
| [607](https://bluebaybrokers.com/listing?mls=A12063661) | 1/1 | 639 sf | $349,000 | $546 | $520 | 1 |
| [711](https://bluebaybrokers.com/listing?mls=A12092272) | 1/1 | 716 sf | $375,000 | $524 | $565 | 0 |
| [305](https://bluebaybrokers.com/listing?mls=A12059809) | 2/2 | 1,057 sf | $445,000 | $421 | $868 | 6 |
| [705](https://bluebaybrokers.com/listing?mls=A11900456) | 2/2 | 1,057 sf | $470,000 | $445 | $868 | 314 |

How to read this table

On new construction the MLS area is routinely the total rather than the interior, and it runs larger than the County's recorded figure, by 10 to 30 percent on the units already tested in this pipeline. Treat the $/sf column as the seller's own arithmetic and re-divide by the recorded area before comparing it with anything delivered.

## Photographs

The 17 photographs carried on MLS listing A11909826 at this address. On a building still under construction these are the developer's renders and the sales-gallery material, not the finished product.

**Photographs** © SEFMLS, displayed from the MLS under the same licence that permits display of the listing itself. Renders are the developer's own and are subject to change.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 622 sf.

| HOA at $0.81/sf/month | −$6,046 |
|---|---|
| Property tax at 2.02% of $334,000 | −$6,747 |
| Insurance (HO-6), $3.60/sf | −$2,239 |
| Annual carry, before any income | −$15,032 |

**Already rented, and the yield is honest**

Unit 502, a 622 sf one-bedroom asking $334,000, is leased at $2,200 a month until July 2027: 7.9 percent gross. Less the association ($523 a month on that unit; the developer now quotes 81 cents a foot) and tax at 2.02 percent, it nets about 4.0 percent before insurance and vacancy. The developer credits two and a half years of association fees, about $15,500 on a 639 sf one-bedroom, which lifts the first 30 months. The developer markets 12 leases a year, monthly allowed, where a broker sheet said annual only: read the recorded declaration before underwriting monthly rent.

## How it was built and sold

| Construction financing | No acquisition or conversion loan has been reported. |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered. Built in 2023 as a rental, converted to condominium with sales launched in November 2025. Closings from August 2026, so a buyer closes now: 10 percent at contract for an owner-occupant, 15 percent for an investor (developer terms, October 2026). |
| Developer | Gamla Cedron Group of Aventura, led by CEO Shaoul Mishal. Douglas Elliman's Solis Chirino Group runs sales. Gamla Cedron also owns the lot next door and had not decided what to build there (The Real Deal). |
| Rental policy | Marketed by the developer as rentable 12 times a year, monthly leases allowed (developer fact sheet, read 16 October 2026). The broker inventory sheet read 17 September 2026 said annual leases only; the recorded declaration has not been read |

## Recommendation

BlueBay Brokers · Centralis Residences Miami

### Take the two-bedroom, and negotiate the one-bedroom

Finished in 2023, nothing to build, sold by Douglas Elliman, with the developer pursuing Fannie Mae approval so buyers can use conventional loans (The Real Deal, November 2025). Early buyers get first pick of floor and price before the list moves.

The two-bedrooms at $448 to $504 a foot on the developer list ask less than the band closes at, and 30 months of association fees come off the carry. Offer the one-bedrooms toward $471. Get the Fannie Mae status and the rental clause in writing before contract.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the full closing record unit by unit, what resellers are asking against what they paid, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

You are buying a resale here, so the seller's side pays the co-broke and representation costs you nothing. I argue from the recorded closing prices above, including what the current owner actually paid and when.

#### Once you own it

This building is monthly, not nightly, so Property Management Brickell LLC would run it as mid-term. Different rate, different occupancy, and I will show you that pro forma rather than a nightly one.

## Read next

- [District 225, Downtown, Delivered 2025](https://bluebaybrokers.com/buildings/district-225)
- [Aria Reserve, Edgewater, Delivered 2025–2026](https://bluebaybrokers.com/buildings/aria-reserve)
- [Bentley Residences, Sunny Isles Beach, Delivering 2028](https://bluebaybrokers.com/buildings/bentley-residences)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Gamla Cedron converting Little Havana apartments to condos (Nov 2025)](https://therealdeal.com/miami/2025/11/19/gamla-cedron-converting-little-havana-apts-to-condos/)
- [Centralis Residences, developer fact sheet and price list (October 2026)](https://centralisresidences.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-16. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.