# LOFTY Brickell: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/lofty-brickell
> 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

Brickell clears 492 homes a year across the range LOFTY sells into, so the entire 362-unit tower is about nine months of ordinary absorption. It arrives with the loan closed since 2022, a further $513M raised in 2025, the structure topped off and roughly nine months to completion. As delivery certainty goes, this is close to the top of the market. The catch is what is left. The studios and one-bedrooms that made this an investor building are gone, and the only inventory is the Artefacto penthouse collection from $1.6M for 997 square feet. That is about $1,605 a foot, against $1,266 for new stock reselling in the same postcode. You are buying the last and best floors of a building everyone else already bought, and paying for the privilege.

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

Closings per year 473 trailing 12 months, 33131, same band

Years of supply 0.8 this building alone

Band closes at $587/sf median of real closings, not asks

| Band, 33131 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $400K - $1M | 321 | $600,000 | $587 |
| $1M - $2.5M | 120 | $1,351,250 | $874 |
| $2.5M and above | 32 | $3,975,000 | $1,230 |

**Nine months of Brickell volume, nine months to delivery**

Three bands cover the range this building sells into, and together they closed 492 homes in 33131 over the trailing twelve months: 327 between $400K and $1M at a median of $590,000, 130 between $1M and $2.5M at a median of $1,350,000, and 35 above $2.5M at a median of $3,900,000. Set against 362 units that is 0.74 years of supply, about nine months. A full delivery does not flood this submarket, it is absorbed by it, and that is the single most reassuring number on this page. The wider postcode is looser: 813 active listings against 579 annual closings is 16.8 months of supply, so a resale competes for attention even where it does not compete on price. What is already settled is the price runway. A developer price list only moves up as inventory depletes, and 80 percent of this tower was under contract before it broke ground in 2022. The launch cohort bought the lowest prices and the widest choice of plans. Today's buyer is not buying that. Today's buyer is buying the top nine floors of a sold-out tower with the construction risk behind it, which is a real thing to buy, just not a cheap one.

## The market it lands in

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

Active inventory 809 homes listed across 33131

Sold, trailing year 562 recorded closings, every price

Months of supply 17.3 under 6 favours sellers, over 12 favours buyers

Asking vs sold $733/sf asked, against $635/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 33131 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,275/sf median of 20 closings this year

Movement since +3.1% across recently delivered buildings

This building asks $1,605/sf entry residences

Entry vs new stock +26% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 3 | withheld, 3 sales |
| 2025 | 26 | $1,237 |
| 2026 | 20 | $1,275 |

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

$1,605–$1,883/sf

Penthouse Collection from $1.6M · 997 - 1,859 sf · the standard stack is sold out

Band closes at $587/sf $400K - $1M, trailing 12 months

Listed here today 0 nothing on the MLS

**What the last floors cost against what the market pays**

The penthouse collection opens at $1.6M for 997 square feet, about $1,605 a foot, and The Real Deal reported the remaining penthouses asking $2.4M to $3.5M in September 2025. The band those units land in, $1M to $2.5M in 33131, closed at a median of $878 a foot over the trailing year, but that band is mostly older stock and is not the right comparison. The fair one is the last cohort of new construction: condominiums built 2023 or later and resold in this postcode closed at $1,237 a foot in 2025 and $1,266 in 2026, up 2.3 percent. On that basis the entry penthouse asks roughly 27 percent over what new stock actually resells for. Part of that gap is genuine product. These are the top nine floors of a riverfront tower, delivered fully finished and furnished in a collaboration between Artefacto and INC, in a building where short-term rental is permitted, which most of Brickell's newer towers do not allow. Part of it is simply the price of buying last. One measurement caution: these areas come from the developer and the MLS, the County has recorded no unit areas because there is no Declaration yet, and on new construction the MLS figure usually includes the balcony. The true interior rate is higher than $1,605.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 99 SW 7th St, Miami FL 33131, 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.

## 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 $1,600,000 at 4.5% simple, 9 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard, structure already topped off) | 30% | $480,000 | $480,000 | 9 mo | −$16,200 |
| At closing | 70% | $1,120,000 | $1,600,000 | 0 mo | −$0 |
| Committed before closing |  |  | $1,600,000 |  | −$16,200 |

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 $16,200, 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 997 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $1,600,000 | −$32,320 |
| Insurance (HO-6), $3.60/sf | −$3,589 |
| Annual carry, before any income | −$35,909 |

**The cheapest carry in the pipeline, and two documents to get first**

This is where the late entry pays you back. The structure topped off this year, so the milestones a preconstruction schedule normally spreads across three years are all behind the building. Newgard has not published a schedule to us, so the table assumes the Miami standard with the reached milestones collapsing into 30 percent at contract and the balance at closing. Nine months on $480,000 costs about $16,200, against a launch buyer who has had a deposit committed since 2021 earning nothing. Two things to obtain before signing, and both are ordinary requests a developer expects from a broker. First the rental language in the recorded declaration: short-term rental permitted as of right is the entire investment case here, and until the declaration says it, it is a marketing sentence. Second the remaining-inventory list with terms, because a tower this far sold with a closing calendar to protect is exactly where a developer will move on price, incentive or deposit structure. Neither is a reason to hesitate. They are the two points worth negotiating.

## Delivery risk

| Construction financing | Financed twice. 3650 REIT, now 3650 Capital, lent $170M in June 2022, arranged by Lotus Capital Partners, having already backed the site acquisition. In September 2025 Newgard and Two Roads closed a further $513M across both towers, a $370M senior loan from an undisclosed lender and a $143M mezzanine from 3650 Capital, one of the largest South Florida construction loans of that year. |
|---|---|
| Presold | 80% at last disclosure |
| Delivery | 2027. The two towers were more than halfway built in September 2025 and both topped off in 2026. Harvey Hernandez told The Real Deal on 5 August 2026 that completion was about nine months away, which puts it around mid-2027. |
| Developer | Newgard Development Group, Harvey Hernandez, with Two Roads Development, Reid Boren and Taylor Collins, who joined as a joint venture partner in November 2024. Arquitectonica designed it, INC did the interiors, Cervera Real Estate handles sales. Newgard assembled the 1.6-acre riverfront site from 2021 and sold the third-tower parcel to Prosper and Versluys in August 2026, keeping the parcel that carries both towers. |
| Rental policy | Short-term rentals permitted |

## Recommendation

BlueBay Brokers · LOFTY Brickell

### Buy it for the income, not for the basis

Delivery risk is close to gone. The $170M construction loan closed in June 2022, a further $513M closed in September 2025, both towers topped off this year, and Harvey Hernandez put completion about nine months out in August 2026. Eighty percent of the building was under contract before ground was broken. You are not underwriting whether this gets built, and that is worth paying something for.

The basis argument that works at other Brickell towers does not work here, and pretending otherwise would not survive the first buyer who checks. At roughly $1,605 a foot the entry penthouse asks about 27 percent over what new stock in this postcode actually resells for. The launch cohort captured the price advantage in 2021 and 2022, and there is no version of this trade where today's buyer recovers it on paper.

So underwrite it on income instead. Riverfront, fully furnished, and short-term rental permitted in a postcode where most new towers forbid it: that scarcity is the thesis, and it is the only thing that justifies the foot rate. Absorption supports it, 362 units against 492 annual closings is nine months of normal volume, and the carry is nine months rather than five years. Get the recorded rental language and the remaining-inventory terms before you sign. If the declaration says what the marketing says, the top nine floors of a sold-out riverfront tower is a defensible position. If it does not, this is an expensive apartment.

## 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

- [619 Brickell, Brickell, end of 2030 (developer deposit schedule)](https://bluebaybrokers.com/buildings/619-brickell)
- [ORA by Casa Tua, Brickell, 2029](https://bluebaybrokers.com/buildings/ora-casa-tua)
- [The Residences at 1428 Brickell, Brickell, 2027](https://bluebaybrokers.com/buildings/1428-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)
- [Brickell buildings that allow daily rentals, with sources](https://bluebaybrokers.com/brickell-buildings-daily-rentals)

## Sources

- [The Real Deal, Prosper and Versluys buy the Miami River site (Aug 2026)](https://therealdeal.com/miami/2026/08/05/prosper-group-versluys-group-buy-miami-river-condo-dev-site/)
- [The Real Deal, Newgard and Two Roads score $513M for One Brickell Riverfront (Sep 2025)](https://therealdeal.com/miami/2025/09/29/newgard-two-roads-get-one-brickell-riverfront-loan-in-miami/)
- [The Real Deal, Lenders dole out $320M including $170M for Lofty Brickell (Jun 2022)](https://therealdeal.com/miami/2022/06/29/lenders-dole-out-320m-in-construction-financing-for-brickell-miami-worldcenter-condo-towers/)
- [Developer site, LOFTY Penthouse Collection](https://loftybrickell.com/penthouses/)

**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.