# ELLE Residences Miami: preconstruction prices and deposits

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

ELLE is the entry ticket to a branded, furnished, nightly-rental tower in Edgewater: $626,000 for a 450 sf one-bedroom, on a site bought in 2023 and the brand's first residential building. Buying before the construction loan closes is where the best terms are: the developer needs contracts to finance, and the buyer who signs then sets the price every later buyer must validate.

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

Closings per year 217 trailing 12 months, 33137, same band

Years of supply 0.8 this building alone

Band closes at $597/sf median of real closings, not asks

| Band, 33137 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500,000 – $800,000 | 129 | $650,000 | $597 |
| $800,000 – $1.2M | 88 | $917,500 | $740 |

**Absorption and timing**

33137 closed 217 homes in ELLE's two price bands in the last twelve months, so 180 residences are about ten months of that market: absorbable. The developer has not disclosed how many are sold. Edgewater is a buyer's market today, 13.5 months of supply, and the pipeline around ELLE is deep. The early-buyer logic applies in full, since the list only rises as the stack sells, but so does its condition: that early money waits on a construction loan that has not been announced. Timing is the risk here, not demand.

## The market it lands in

Everything for sale in 33137 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 534 homes listed across 33137

Sold, trailing year 477 recorded closings, every price

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

Asking vs sold $764/sf asked, against $691/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 33137 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $993/sf median of 46 closings this year

Movement since -2.4% across recently delivered buildings

This building asks $1,391/sf entry residences

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

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 5 | $1,017 |
| 2024 | 21 | $1,044 |
| 2025 | 22 | $1,014 |
| 2026 | 46 | $993 |

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

$1,363–$1,391/sf

$626,000 and $736,000 listed · plans of 450 – 845 sf · launched in 2024 from about $525,000

Band closes at $597/sf $500,000 – $800,000, trailing 12 months

Listed here today 2 median $1,377/sf

**A brand premium you should negotiate**

The two listed one-bedrooms ask $1,391 and $1,363 a foot. Condos built in Edgewater since 2023 resold this year at a median $989, down 2.8 percent, and the band ELLE sells into closes at $597. The closest format comparison, Gale and Natiivo downtown, small furnished units with nightly rentals allowed, resold at a median $764 across eight closings since October. What you are buying at ELLE is a low ticket and a label, not a low basis. The 2024 launch price near $525,000 is the level to negotiate back toward.

## On the MLS today

2 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 |
|---|---|---|---|---|---|---|
| [2409](https://bluebaybrokers.com/listing?mls=A12030390) | 1/1 | 450 sf | $626,000 | $1,391 | $788 | 121 |
| [2204](https://bluebaybrokers.com/listing?mls=A12031159) | 1/1 | 540 sf | $736,000 | $1,363 | $788 | 120 |

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 14 photographs carried on MLS listing A12031159 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 $626,000 at 4.5% simple, 40 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $62,600 | $62,600 | 40 mo | −$9,390 |
| 60 days after contract (assumed standard) | 10% | $62,600 | $125,200 | 38 mo | −$8,920 |
| At groundbreaking (assumed standard) | 10% | $62,600 | $187,800 | 34 mo | −$7,982 |
| At closing | 70% | $438,200 | $626,000 | 0 mo | −$0 |
| Committed before closing |  |  | $626,000 |  | −$26,292 |

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 $26,292, 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 450 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $626,000 | −$12,645 |
| Insurance (HO-6), $3.60/sf | −$1,620 |
| Annual carry, before any income | −$14,265 |

**What to secure before you sign**

No deposit schedule is published, so we assume 10/10/10/70. Ask for the third 10 percent to fall due at the construction loan closing rather than on a calendar date, and for every deposit to sit in escrow. The two MLS rows show the same $788 monthly fee on a 450 and a 540 sf unit, which reads as a placeholder, not a budget: get the proposed association budget. And get the rental language from the declaration once drafted.

## Delivery risk

| Construction financing | No construction loan reported. WD Capital Group announced pre-development financing in December 2025, amount undisclosed, to carry design, entitlement and site work ahead of vertical construction. |
|---|---|
| Presold | Not disclosed |
| Delivery | Not before 2029 on today's evidence. Published targets said 2027, then 2028; the developer's MLS rows now say 2029 and 2030, and no groundbreaking or construction loan has been reported. A 25-storey tower needs about 30 months once it starts. |
| Developer | Vertical Developments (Fernando de Nuñez y Lugones) and Urban Network Capital Group (Robert Thorne), under an ELLE licence from Lagardère. Behar Font & Partners architecture, The One Atelier interiors. Launched with Fortune Development Sales. |
| Rental policy | Marketed as allowing short-term rentals (developer release reported by The Real Deal, May 2024; MLS listing remarks, read 29 September 2026) |

## Recommendation

BlueBay Brokers · ELLE Residences Miami

### Right product, sign on the loan, not on the brochure

ELLE sells a real thing: a furnished, branded unit in Edgewater that can be rented by the night, from $626,000. The brand is the premium, at about 40 percent over what new Edgewater stock resells at.

Reserve now if the product fits, but tie the deposits beyond the first to the construction loan closing and negotiate the price toward the 2024 launch list. That protects the early position without funding the gap.

## 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.

#### After delivery

Property Management Brickell LLC runs the unit, as it already does across Brickell, and my own host profile carries more than 2,900 reviews at 4.82 as a Superhost. You get the pro forma before you buy.

## Read next

- [Cove Miami, Edgewater, Delivering 2028](https://bluebaybrokers.com/buildings/cove-residences)
- [Vida Residences, Edgewater, Delivering 2026](https://bluebaybrokers.com/buildings/vida-residences)
- [Villa Miami, Edgewater, Delivering 2027](https://bluebaybrokers.com/buildings/villa-miami)
- [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, Developers launch Elle-branded condo tower in Miami's Edgewater (May 2024)](https://therealdeal.com/miami/2024/05/29/elle-branded-condo-tower-planned-in-miamis-edgewater/)
- [MultifamilyBiz, WD Capital Group secures pre-development financing for 25-story Elle residential tower (Dec 2025)](https://www.multifamilybiz.com/pressreleases/18253/wd_capital_group_secures_predevelopment_financing_...)
- [Florida YIMBY, residential developments advance in Edgewater (Dec 2025)](https://floridayimby.com/2025/12/a-series-of-major-residential-developments-advance-in-miamis-edgewater-neighborhood.html)

**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.