# Colette Residences: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/colette-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

Thirty-eight homes, five storeys, on Brickell Avenue. The bands Colette sells into close sixteen homes a year in 33129, so the entire building is 2.4 years of supply, a fraction of what a tower carries into the same pool. Two of the five listed residences went under contract inside five months. The entry home asks $1,152 a foot against $966 for closed stock in its band. You are paying for scarcity, and here the scarcity is real.

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

Closings per year 18 trailing 12 months, 33129, same band

Years of supply 2.1 this building alone

Band closes at $1,022/sf median of real closings, not asks

| Band, 33129 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $2.5M – $4M | 10 | $3,012,500 | $1,022 |
| $4M and above | 8 | $5,925,000 | $1,266 |

**The smallest delivery in this pipeline**

Thirty-eight residences against sixteen closings a year in the same postcode and the same price bands is 2.4 years of supply. Every tower in this registry runs a multiple of that, and it is the structural reason to prefer this building on the way out: your resale competes with a handful of neighbours rather than four hundred. A developer price list only moves one way, up, as inventory depletes, so the launch cohort buys the lowest price and the best plans and every later contract validates their basis. Two of five listed homes under contract in five months is that process already running.

## The market it lands in

Everything for sale in 33129 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 215 homes listed across 33129

Sold, trailing year 192 recorded closings, every price

Months of supply 13.4 under 6 favours sellers, over 12 favours buyers

Asking vs sold $832/sf asked, against $590/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 33129 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 2 resales this year

Movement since — across recently delivered buildings

This building asks $1,152/sf entry residences

Entry vs new stock — below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 1 | withheld, 1 sale |
| 2025 | 1 | withheld, 1 sale |
| 2026 | 2 | withheld, 2 sales |

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

$1,152–$1,816/sf

$2.79M – $5.20M on the five listed residences · 2,422 – 3,184 sf · penthouses of 5,916 and 6,128 sf, not publicly priced

Band closes at $1,022/sf $2.5M – $4M, trailing 12 months

Listed here today 3 median $1,480/sf

**What the premium buys**

The entry residence asks $1,152 a foot. The $2.5M to $4M band in 33129 closed at a median of $966 over the trailing year, so the entry stack asks roughly nineteen percent over delivered stock, and the $4M homes ask $1,480 to $1,816 against $1,222 closed. That gap is the price of new construction at 38 units on Brickell Avenue, and the real question is whether the boutique format holds it. Nothing in 33129 answers that yet: three new condominiums have resold here in three years and every median is withheld. Read the premium as a bet on format, not as a measured discount.

## On the MLS today

3 listings at this address are Active right now, pulled 2026-10-07. 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 |
|---|---|---|---|---|---|---|
| [22](https://bluebaybrokers.com/listing?mls=A11958958) | 2/3 | 2,422 sf | $2,790,000 | $1,152 | $5,209 | 152 |
| [23](https://bluebaybrokers.com/listing?mls=A11957549) | 3/4 | 2,704 sf | $4,002,000 | $1,480 | $5,814 | 153 |
| [27](https://bluebaybrokers.com/listing?mls=A11958986) | 4/5 | 3,184 sf | $4,798,000 | $1,507 | $6,846 | 152 |

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 9 photographs carried on MLS listing A11958958 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.

## 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 $2,790,000 at 4.5% simple, 23 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $279,000 | $279,000 | 23 mo | −$24,064 |
| At groundbreaking | 10% | $279,000 | $558,000 | 17 mo | −$17,786 |
| At top-off | 10% | $279,000 | $837,000 | 8 mo | −$8,370 |
| At closing | 70% | $1,953,000 | $2,790,000 | 0 mo | −$0 |
| Committed before closing |  |  | $2,790,000 |  | −$50,220 |

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 $50,220, 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 2,422 sf.

| HOA at $2.15/sf/month | −$62,488 |
|---|---|
| Property tax at 2.02% of $2,790,000 | −$56,358 |
| Insurance (HO-6), $3.60/sf | −$8,719 |
| Annual carry, before any income | −$127,565 |

**What to get in writing before you sign**

Three documents, all ordinary requests a developer expects from a broker. The deposit schedule, because META has not published one and the table above uses the Miami standard. The recorded rental language, because the policy is unpublished and at 2,400 square feet this is a residence, not an income asset; do not underwrite it as one. And the construction financing, because what closed in May 2026 funds entitlement rather than building. The association budget, unusually for preconstruction, is already published at $2.15 per foot a month, and it is the largest line in the table above.

## Delivery risk

| Construction financing | No construction loan. META recorded an $18.5M acquisition and development loan from BridgeCity Capital in May 2026, which the developer describes as funding planning, design coordination and entitlement progress. No build facility has been announced. |
|---|---|
| Presold | Not disclosed |
| Delivery | Summer 2028 per the developer's launch materials. No groundbreaking has been announced and no construction loan has closed, so read the date as a target rather than a funded schedule. Five storeys does build quickly once it starts. |
| Developer | META Development, Andrew Rasken. Assembled 1870 and 1880 Brickell Avenue over two purchases and held the site rather than flipping the entitlement. Its first Miami project, OPUS Coconut Grove, 12 residences and two penthouses, broke ground in April 2026 on a $28.8M Arixa Capital construction loan. |
| Rental policy | Not published. A 38-home boutique building at this size normally restricts leasing rather than permits nightly rental |

## Recommendation

BlueBay Brokers · Colette Residences

### Worth the premium at the entry, on one condition

The structural case is the best in this pipeline. Thirty-eight homes is 2.4 years of supply in its own bands, so the exit never competes with its own building, and five storeys with 2,400 square foot plans on Brickell Avenue has no close substitute in the submarket.

The premium is real and untested. The entry asks about nineteen percent over what its band closes at, and 33129 has no new-condominium resale history to measure it against. That is a defensible bet on the boutique format, and it should be taken as a bet rather than a bargain.

The condition is the construction loan. Get the deposit schedule, the recorded rental language and confirmation of a build facility before signing. With those three in hand, the entry stack is the part of this building to own, and owning it early is the whole advantage.

## 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)
- [Parkside Residences at Brickell, Brickell, Delivering Q2 2028](https://bluebaybrokers.com/buildings/parkside-brickell)
- [619 Brickell, Brickell, end of 2030 (developer deposit schedule)](https://bluebaybrokers.com/buildings/619-brickell)
- [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, Meta Development launches sales for boutique Brickell condo project (Oct 2025)](https://therealdeal.com/miami/2025/10/20/meta-development-launches-sales-for-boutique-brickell-condos/)
- [Florida YIMBY, META completes the Brickell Avenue assemblage and secures an $18.5M loan (May 2026)](https://floridayimby.com/2026/05/meta-development-completes-brickell-avenue-assemblage-for-colette-residences-and-secures-18-5-million-loan.html)
- [Florida YIMBY, META announces Colette Residences at 1870–1880 Brickell Avenue (Oct 2025)](https://floridayimby.com/2025/10/boutique-five-story-colette-proposed-for-1880-brickell-avenue-miami-florida.html)
- [Florida YIMBY, META breaks ground on OPUS Coconut Grove (Apr 2026)](https://floridayimby.com/2026/04/meta-development-breaks-ground-on-opus-coconut-grove-at-3137-sw-27th-avenue-in-miami.html)
- [Bridge Data Output, Miami Realtors: five listings at 1880 Brickell Avenue, 33129](https://bluebaybrokers.com/new-developments)

**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.