# HQ Residences Miami: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/hq-residences
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-08
> 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

HQ Residences is a 35-storey, 229-unit Edgewater condo from $850,000, and its entry one-bedroom asks $1,188 a foot against $993 for condos built since 2023 that resold in 33137 this year. That 19% premium is the price of new and of the HQ brand. What works for the buyer is supply: 229 homes into a band that closes 198 a year is barely more than one year of it.

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

Closings per year 198 trailing 12 months, 33137, same band

Years of supply 1.2 this building alone

Band closes at $745/sf median of real closings, not asks

| Band, 33137 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $750K – $1.25M | 110 | $905,000 | $745 |
| $1.25M – $2.5M | 88 | $1,655,000 | $919 |

**Light supply for its band**

229 residences against 198 closings a year in the two bands is **1.2 years of supply**, light for a tower this size, because $750K to $2.5M is where most of 33137's buyers sit. The postcode itself is heavier: 564 active listings, 14.2 months of stock, so resale pricing at delivery is set by competition, not scarcity. Presales are not published. The launch average was about $1,400 a foot and the cheapest one-bedroom on the MLS today asks $1,188, so the bottom of the list is still open. That is the early-buyer case: a developer list only rises as the stack sells.

## 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 564 homes listed across 33137

Sold, trailing year 476 recorded closings, every price

Months of supply 14.2 under 6 favours sellers, over 12 favours buyers

Asking vs sold $770/sf asked, against $690/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 -4.9% across recently delivered buildings

This building asks $1,179/sf entry residences

Entry vs new stock +19% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 4 | withheld, 4 sales |
| 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

$1,179–$1,421/sf

From $850,000 · 721 – 2,074 sf · about $1,400/sf at launch (The Real Deal, Nov 2025)

Band closes at $745/sf $750K – $1.25M, trailing 12 months

Listed here today 5 median $1,399/sf

**A premium to new resales, well above the band**

The entry one-bedroom is $859,000 on 723 sf, $1,188 a foot (MLS A12117723). Homes at $750K to $1.25M in 33137 close at a median $745, and the five live HQ listings ask a median $1,399. The fair comparison is new stock: condos built since 2023 in 33137 resold at a median $993 across 46 closings this year, down 4.9% since 2024. So you pay about 19% over what recently delivered Edgewater units fetch, for a 2029 building with a hotel brand on it. Negotiate toward that $993, not down from the list.

## On the MLS today

5 listings at this address are Active right now, pulled 2026-11-08. 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 |
|---|---|---|---|---|---|---|
| [1203](https://bluebaybrokers.com/listing?mls=A12117723) | 1/1 | 723 sf | $859,000 | $1,188 | $1,062 | 4 |
| [1404](https://bluebaybrokers.com/listing?mls=A12117668) | 1/2 | 815 sf | $1,140,000 | $1,399 | $1,319 | 2 |
| [1600](https://bluebaybrokers.com/listing?mls=A12117744) | 2/3 | — | $1,510,000 | — | $1,851 | 4 |
| [1902](https://bluebaybrokers.com/listing?mls=A12117740) | 2/3 | 1,246 sf | $1,770,000 | $1,421 | $2,007 | 4 |
| [1401](https://bluebaybrokers.com/listing?mls=A12117757) | 3/4 | — | $2,200,000 | — | $2,570 | 4 |

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 12 photographs carried on MLS listing A12117757 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 $850,000 at 4.5% simple, 32 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $85,000 | $85,000 | 32 mo | −$10,200 |
| Second instalment (assumed standard) | 10% | $85,000 | $170,000 | 29 mo | −$9,244 |
| At top-off (assumed standard) | 10% | $85,000 | $255,000 | 8 mo | −$2,550 |
| At closing | 70% | $595,000 | $850,000 | 0 mo | −$0 |
| Committed before closing |  |  | $850,000 |  | −$21,994 |

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 $21,994, 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 721 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $850,000 | −$17,170 |
| Insurance (HO-6), $3.60/sf | −$2,596 |
| Annual carry, before any income | −$19,766 |

**What to secure before you sign**

Three things. The rental clause: the broker sheet says a 30-day minimum and at most four leases a year, which makes this a home or a long let, never a nightly rental, so get the declaration language in writing. The deposit schedule: not published, so the carry above uses Miami's 10/10/10/70, about $21,994 on $850,000 over 32 months. And the construction loan: none reported. Black Salmon said construction could begin by September 2026; ask whether it did.

## Delivery risk

| Construction financing | No construction loan reported as of November 2026. |
|---|---|
| Presold | Not disclosed |
| Delivery | 2029 on the broker sheet and on the MLS (YearBuilt). Black Salmon's Camilo Lopez told The Real Deal in November 2025 that construction could begin by September 2026 and take about 30 months; no groundbreaking or loan has been reported since. 32 months is the model here, not a contract date. |
| Developer | Black Salmon (Camilo Lopez), the Boschetti Group and Constellation Group (Eduardo Otaola). Branded and managed by Sam Nazarian's HQ Hotels & Residences by sbe, with Marc Anthony as partner. The Agency leads sales; Arquitectonica designs. |
| Rental policy | Marketed as monthly rental: 30-day minimum, at most four leases a year (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · HQ Residences Miami

### Buy the entry plans, priced against resales

A mid-luxury launch from a credible team: Black Salmon with Boschetti and Constellation, Arquitectonica designing, sbe branding. Supply in its band is light at 1.2 years, and the $850,000 entry sits where 33137 has the most buyers.

The case is the one-bedroom at the bottom of the list, bought as a home or a 30-day rental. Negotiate toward the $993 that new 33137 stock resells at, and wait for a closed construction loan before the second deposit.

## 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

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

- [Aria Reserve, Edgewater, Delivered 2025–2026](https://bluebaybrokers.com/buildings/aria-reserve)
- [Cove Miami, Edgewater, Delivering 2028](https://bluebaybrokers.com/buildings/cove-residences)
- [EDITION Residences Miami Edgewater, Edgewater, Delivering 2029](https://bluebaybrokers.com/buildings/edition-edgewater)
- [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, HQ Hotels to brand condo tower in Edgewater (Nov 2025)](https://therealdeal.com/miami/2025/11/05/sam-nazarian-marc-anthonys-hq-hotels-to-brand-miami-condos/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-08. 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.