# Cipriani Residences Miami: prices and deposits

> Source: https://bluebaybrokers.com/buildings/cipriani-residences
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-07
> 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

Cipriani Residences is the rare preconstruction purchase with almost no construction risk left in it: the $600M loan closed in 2024, the tower topped out in July 2026 and keys are due in summer 2027. Entry today is $1.8M, about $1,480 a foot, for the last 15 percent of a building that sold its first 85 percent to buyers from more than 30 countries. The bet is ten months of carry for first-year ownership in Brickell's tallest branded address.

## 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 397 all at once, to the same buyer pool

Closings per year 63 trailing 12 months, 33130, 33131, same band

Years of supply 6.3 this building alone

Band closes at $1,109/sf median of real closings, not asks

| Band, 33130, 33131 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $1.8M – $3M | 38 | $2,250,000 | $1,109 |
| $3M – $5M | 19 | $4,125,000 | $1,229 |
| $5M and above | 6 | $7,550,000 | $1,444 |

**Absorption and timing**

Brickell (33130 and 33131) closed 67 homes above $1.8M in the trailing year, so 397 residences are about six years of that band arriving in one building. Read it as a timing question, because most of these buyers are owner-occupiers and the resale supply will trickle rather than flood. The launch cohort already made the early-buyer trade: average $1,000 a foot in March 2022 against $1,480 at the entry today, roughly a 48 percent mark-up on paper, which is exactly what a developer price list does as inventory depletes. What is left is the developer's final inventory, priced at the top of the list, with a sponsor who wants the building closed out. That is where the negotiation is.

## The market it lands in

Everything for sale in 33130, 33131 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 1319 homes listed across 33130, 33131

Sold, trailing year 885 recorded closings, every price

Months of supply 17.9 under 6 favours sellers, over 12 favours buyers

Asking vs sold $709/sf asked, against $604/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 33130, 33131 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,274/sf median of 23 closings this year

Movement since +8.4% across recently delivered buildings

This building asks $1,484/sf entry residences

Entry vs new stock +16% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 1 | withheld, 1 sale |
| 2024 | 4 | withheld, 4 sales |
| 2025 | 32 | $1,175 |
| 2026 | 23 | $1,274 |

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

$1,484–$3,410/sf

$1.8M – $33M · 1,213 – 3,495 sf residences · Canaletto Collection from $4.1M · the two 1931 penthouses at $19.8M (6,703 sf) and $33M (9,677 sf, indoor and outdoor)

Band closes at $1,109/sf $1.8M – $3M, trailing 12 months

Listed here today 0 nothing on the MLS

**The basis is the branded tier, not the band**

The entry residence works out around $1,480 a foot. The $1.8M to $3M band in these two postcodes closed at a median of $1,131 on recorded transactions over the trailing year, and condominiums delivered since 2023 resell this year at $1,274. The right comparison is the one delivered branded tower next door: Aston Martin Residences resold 22 homes in twelve months at a median of $1,239 a foot, and its 31 active listings ask $1,611. So Cipriani is priced about 20 percent over what the branded tier closes at and 8 percent under what its owners are asking, on a building that is newer, taller and carries a hospitality brand with a private club. The premium is the brand and the height; underwrite it as a home, not as a spread.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 1420 S Miami Ave, Miami FL 33130, pulled 2026-10-07. The building is being sold off-market by the developer's own sales team, which is normal at this stage and has one consequence worth stating: there is no independent asking price to check the developer's price list against, so every size and price on this page comes from the developer or the trade press rather than from a transaction. It is also why this page carries no photograph: the MLS licence that lets us display a listing's images does not extend to a render off a brochure.

## What the deposit costs to hold

A preconstruction deposit is committed years before you hold a deed, earning nothing. That carry is a real cost of the trade and it is never in the pitch. Modelled on $1,800,000 at 4.5% simple, 10 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (developer schedule) | 20% | $360,000 | $360,000 | 10 mo | −$13,500 |
| Within 90 days | 10% | $180,000 | $540,000 | 7 mo | −$4,725 |
| Within 180 days | 10% | $180,000 | $720,000 | 4 mo | −$2,700 |
| At closing | 60% | $1,080,000 | $1,800,000 | 0 mo | −$0 |
| Committed before closing |  |  | $1,800,000 |  | −$20,925 |

Why this line matters more than the yield

Nothing is rented and nothing is owned meanwhile, so the whole return has to come from the gap between contract price and the market at delivery. That carry, about $20,925, is the hurdle before you break even, and deposits are generally non-refundable, so a delivery that slips extends it without your consent.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 1,213 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $1,800,000 | −$36,360 |
| Insurance (HO-6), $3.60/sf | −$4,367 |
| Annual carry, before any income | −$40,727 |

**What to obtain before you sign**

The deposit schedule is the developer's own, received on 31 July 2026: 20 percent at contract, 10 within 90 days, 10 within 180 days, 60 at closing. With delivery ten months out the carry on $1.8M stays under $40,000, a fraction of what a 2028 delivery costs elsewhere in this pipeline. Three things to secure, all ordinary requests at 85 percent sold. The rental language in the recorded Declaration, because today it rests on launch coverage saying twice a year with a one-month minimum. The association budget, since 50,000 sf of amenities and Cipriani service are paid for monthly and nothing has been published. And a price on the specific residence, because final inventory is where a sponsor trades.

## Delivery risk

| Construction financing | $600M closed February 2024: $350M from Banco Inbursa and $250M from Ascendant Capital Partners, arranged by Newmark. The largest construction loan ever recorded on a single condominium tower in South Florida. Topped out at about 950 feet in July 2026. |
|---|---|
| Presold | 85% at last disclosure |
| Delivery | Summer 2027, per the developer. The 2022 launch material and the February 2024 loan release both said 2028, so this is one of the few towers in the pipeline whose date has moved earlier rather than later. Construction started February 2024 and the structure topped out in July 2026. |
| Developer | Mast Capital, Camilo Miguel Jr. Bought the 2.8-acre former Capital at Brickell site with Rockpoint in December 2021 for $103M, and master-planned it as three towers: this one and two rental towers of about 850 apartments. Mast is also building The Perigon in Miami Beach with Starwood on a $390M loan closed January 2025. Sales by Fortune Development Sales. |
| Rental policy | Not published in a recorded document. Broker coverage of the March 2022 launch said owners could rent twice a year with a one-month minimum, and a third-party broker sheet repeats a 30-day minimum; both are the developer's claim, not a Declaration. No Declaration is recorded yet, so the rental rule is unknown. |

## Recommendation

BlueBay Brokers · Cipriani Residences Miami

### Buy it for the delivery, negotiate the last inventory

The case is certainty and address: a $600M loan closed, a topped-out structure, 85 percent sold and keys in summer 2027, at the tallest residential building south of Manhattan. Almost every risk this site measures on other towers has already been retired here.

The price is a branded premium, about 20 percent over what Aston Martin resales close at, so this is a home or a hold, not a launch-price trade. Negotiate the specific unit, get the recorded rental rule and the HOA budget before signing, and the position is clean.

## 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 unit-level price list and what is actually left, the developer's land basis and what it says about room on price, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

Developers in this pipeline pay a cooperating broker, so having me represent you costs nothing on top of the price. I negotiate the deposit schedule, the credits and the co-broke, with the recorded comps to argue from.

#### Before anything else

The rental policy here is not published, so I will not sell you a management plan on it. I will get the recorded declaration language and tell you what is actually permitted. That has to be true before the rest matters.

## Read next

- [2200 Brickell, Brickell, 2026](https://bluebaybrokers.com/buildings/2200-brickell)
- [619 Brickell, Brickell, end of 2030 (developer deposit schedule)](https://bluebaybrokers.com/buildings/619-brickell)
- [Colette Residences, Brickell, 2028](https://bluebaybrokers.com/buildings/colette-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)
- [What a preconstruction deposit costs to hold](https://bluebaybrokers.com/preconstruction-deposit-carry-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Mast Capital scores $600M loan for Cipriani Residences Miami (Feb 2024)](https://therealdeal.com/miami/2024/02/06/mast-capital-scores-600m-loan-for-cipriani-residences-miami/)
- [Commercial Observer, Mast Capital lands record $600M construction loan (Feb 2024)](https://commercialobserver.com/2024/02/cipriani-residences-miami-mast-capital/)
- [PROFILEmiami, Cipriani Residences Miami tops off, surpasses 80% sold ahead of summer 2027 delivery (Jul 2026)](https://profilemiami.com/miamirealestate/2026/7/23/cipriani-residences-miami-tops-off-construction-surpasses-80-sold-ahead-of-summer-2027-delivery)
- [Fancy Pants Homes, $53M pair of penthouses crowns Miami's tallest condo tower (Sep 2026)](https://www.fancypantshomes.com/luxury/pair-of-mega-penthouses-crowns-miamis-tallest-residential-tower/)
- [Commercial Observer, Mast Capital buys the Brickell site for $103M (Dec 2021)](https://commercialobserver.com/2021/12/mast-capital-buys-prime-brickell-land-for-proposed-towers-for-103m/)
- [CondoBlackBook, sales launch coverage: sizes, $1,000/sf average, rental claim (Mar 2022)](https://www.condoblackbook.com/blog/cipriani-x-mast-capital-launch-cipriani-residences-miami-in-brickell/)
- [Developer site, ciprianiresidencesmiami.com](https://ciprianiresidencesmiami.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-07. 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.