# Meliá Miami Brickell: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/melia-brickell
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-12
> 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

A 110-unit building in a submarket that closes 299 homes a year in the same price range is about four and a half months of supply, so this tower is small enough to disappear into its own market. It is 53 percent presold, Arixa closed $30M of construction financing in September 2025, and completion lands around mid-2027. On the cheque size it is an ordinary Brickell-adjacent purchase: $501,000 to $698,000 against a band whose median close is $495,000. What you are actually buying is not square footage. At 321 square feet the entry unit works out near $1,561 a foot in a postcode where this band closes at $531. That is the price of a Meliá flag, a furnished key and a managed rental programme, and the whole case rests on what that programme actually pays.

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

Closings per year 299 trailing 12 months, 33130, same band

Years of supply 0.4 this building alone

Band closes at $531/sf median of real closings, not asks

| Band, 33130 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $300K - $700K | 205 | $495,000 | $531 |
| $700K and above | 94 | $885,000 | $750 |

**Small enough that the market absorbs it**

33130 closed 299 homes over the trailing twelve months across the range this building sells into: 205 between $300K and $700K at a median of $495,000 and $531 a foot, and 94 above $700K at a median of $885,000 and $750 a foot. Against 110 units that is 0.37 years, roughly four and a half months of normal volume. Scale is simply not the risk here, which is the opposite of the problem at the large towers, and it is a genuine argument for this building over a 400-unit competitor delivering into the same corridor. The wider postcode is slower: 518 active listings against 324 annual closings is 19.2 months of supply, so a resale waits for its buyer. The developer's own price runway is mostly spent. Thorne said in October 2025 that he had 58 contracts and hoped to be sold out within six months, and he was paying agents 10 percent commissions until the end of that year to get there. A price list carried by a doubled commission is not one about to be raised, so the usual early-buyer argument, that the launch cohort buys the lowest price and every later buyer validates it, is weak in this building. Ask what is still unsold, what it is priced at, and what incentive is on it today.

## The market it lands in

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

Active inventory 518 homes listed across 33130

Sold, trailing year 324 recorded closings, every price

Months of supply 19.2 under 6 favours sellers, over 12 favours buyers

Asking vs sold $677/sf asked, against $555/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 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,027/sf median of 6 closings this year

Movement since — across recently delivered buildings

This building asks $1,561/sf entry residences

Entry vs new stock +52% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 1 | withheld, 1 sale |
| 2024 | 1 | withheld, 1 sale |
| 2025 | 6 | $1,027 |
| 2026 | 3 | withheld, 3 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

$1,258–$1,561/sf

From $501,000 at launch; $546,000 on a September 2026 broker sheet, $548,000 the cheapest MLS ask today · 321 - 555 sf · studios, junior suites and one-bedrooms, fully furnished

Band closes at $531/sf $300K - $700K, trailing 12 months

Listed here today 4 median $1,258/sf

**You are buying a ticket price, not a square foot**

Both readings are true and they point in opposite directions, so take them together. On the ticket, Meliá sits exactly where the market is: the $501,000 entry and the four live MLS asks between $548,000 and $698,000 bracket the $495,000 median close in the same band. Nothing about the cheque size is out of line. On the foot rate it is nowhere near: about $1,561 a foot at the entry and $1,258 on the one live listing that publishes an area, against $531 for the band and $555 across the whole postcode. A 321 square foot hotel key is not the same product as a 900 square foot condominium and comparing the two per foot flatters neither. The point that matters is what happens later. At resale the unit stops being a hotel key and becomes a small condominium, and small condominiums in 33130 do not close at $1,258 a foot. The read-across that matters is thin, but it exists. Eleven condominiums built 2023 or later have resold in this postcode in three years, and only 2025 cleared enough transactions to median, at $1,027 a foot. Measured against that, the entry ask is 52 percent higher. The year-on-year movement is withheld above because no other year had enough closings to measure, so read the $1,027 as a single year of evidence and not as a trend. That thinness is itself a finding. Nobody has properly tested what new small-format stock resells for here, and this building will be part of the test.

## On the MLS today

4 listings at this address are Active right now, pulled 2026-10-12. 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 |
|---|---|---|---|---|---|---|
| [504](https://bluebaybrokers.com/listing?mls=A11963119) | 1/1 | — | $548,000 | — | $1,000 | 116 |
| [405](https://bluebaybrokers.com/listing?mls=A11963097) | 1/1 | — | $680,000 | — | $100 | 211 |
| [409](https://bluebaybrokers.com/listing?mls=A11962371) | 1/1 | — | $683,000 | — | $100 | 117 |
| [609](https://bluebaybrokers.com/listing?mls=A11961510) | 1/1 | 555 sf | $698,000 | $1,258 | $730 | 212 |

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 16 photographs carried on MLS listing A11963119 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 $548,000 at 4.5% simple, 7 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $54,800 | $54,800 | 7 mo | −$1,438 |
| At groundbreaking, already passed | 10% | $54,800 | $109,600 | 7 mo | −$1,438 |
| At top-off | 10% | $54,800 | $164,400 | 4 mo | −$822 |
| At closing | 70% | $383,600 | $548,000 | 0 mo | −$0 |
| Committed before closing |  |  | $548,000 |  | −$3,699 |

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 $3,699, 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 321 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $548,000 | −$11,070 |
| Insurance (HO-6), $3.60/sf | −$1,156 |
| Annual carry, before any income | −$12,225 |

**Short carry, capped use, and the documents that decide it**

The carry is small because the building is small and close. Seven months on the Miami standard 10/10/10/70 costs about $3,700 on a $548,000 unit. That schedule is labelled assumed because Urban Network has not published one to us, and getting the real one matters more here than usual: groundbreaking is already behind the building and top-off is close, so a buyer signing today should expect the first milestones to fall due at or near contract. Treat the modelled figure as a floor. Then get the two documents that actually decide this purchase, and read them before the brochure. The rental management agreement, because the flag runs the programme and the revenue split, the term, the termination rights and who pays for refurbishment cycles are all in there and none of it is in the marketing. And the declaration language on owner use, because this building is sold with personal use capped at roughly 30 days a year. If that holds, it is not a second home in any ordinary sense and it should be underwritten purely as yield. Ask for the flag's own projected occupancy and rate in writing, and treat any figure that is not in writing as marketing.

## Delivery risk

| Construction financing | $30M from Arixa Enhanced Income Fund, closed September 2025, after which construction actually started. An earlier $25M facility to an Urban Network and Vertical joint venture was reported in December 2023, against a ceremonial groundbreaking that was not followed by work. |
|---|---|
| Presold | 53% at last disclosure |
| Delivery | Around mid-2027. Robert Thorne told The Real Deal in October 2025 that construction had only just begun and would take about 20 months. The earlier ceremonial groundbreaking did not start the clock, so date this from late 2025 and not from 2023. |
| Developer | Urban Network Capital Group, Robert Thorne, who assembled the 0.3-acre site in 2023. DTI Architects of Miami Lakes. Meliá Hotels International brands and operates it, its first branded residential project in Miami; Meliá has run a condo-hotel in Hollywood Beach since 2018. Sales were briefly with Compass in 2025 and were brought back in-house. |
| Rental policy | Full flexibility, owner use capped at 30 days per year |

## Recommendation

BlueBay Brokers · Meliá Miami Brickell

### Underwrite the programme, not the postcode

Construction risk is largely behind this one. Arixa closed $30M in September 2025 and work actually started then, Thorne put completion about 20 months out which lands around mid-2027, and 58 of the 110 units were contracted a year ago. At this size, with this financing and an eight-storey structure rather than a tower, the building gets finished.

The absorption picture is genuinely good and it is the strongest thing on this page. 110 units against 299 annual closings in the same band is four and a half months of supply, and the ticket price sits right on top of the $495,000 that band actually clears. As a cheque size this is an ordinary purchase, and the Meliá flag on a fully furnished, professionally run key is a real product that most 110-unit buildings cannot offer.

What is not ordinary is the foot rate and the loss of control. About $1,561 a foot at entry against a band closing at $531 is a bet on the Meliá programme rather than on Miami real estate, and owner use capped near 30 days a year makes you a limited partner in a hotel rather than the owner of a home. The Real Deal's own reporting flags condo-hotel oversupply concentrated in precisely this corridor. Read the management agreement and the declaration first. If the split and the term hold up, this is a clean yield instrument at a small cheque size, which is a legitimate thing to want. If they do not, there is no basis argument underneath it to fall back on.

## 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

- [Domus Brickell Center, Brickell, Delivering end 2027](https://bluebaybrokers.com/buildings/domus-brickell-center)
- [Millux Place, Brickell, Delivering 2028 (marketed Q4 2027)](https://bluebaybrokers.com/buildings/millux-place)
- [One Twenty Brickell, Brickell, Delivering 2028](https://bluebaybrokers.com/buildings/one-twenty-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, Brickell developer rebrands condo-hotel and boosts commissions (Oct 2025)](https://therealdeal.com/miami/2025/10/14/brickell-condo-hotel-rebrands-offers-higher-commissions/)
- [The Real Deal, Urban Network taps Compass to lead sales (May 2025)](https://therealdeal.com/miami/2025/05/28/urban-network-capital-taps-compass-for-brickell-project/)
- [The Real Deal, Urban Network and Vertical land $25M construction loan (Dec 2023)](https://therealdeal.com/miami/2023/12/21/urban-network-jv-scores-25m-loan-for-brickell-condo-hotel/)
- [The Real Deal, Urban Network Capital Group plans Brickell condo-hotel (Mar 2023)](https://therealdeal.com/miami/2023/03/07/urban-network-plans-brickell-condo-hotel/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-12. 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.