# Mercedes-Benz Places Miami: prices and deposits

> Source: https://bluebaybrokers.com/buildings/mercedes-benz-places
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-15
> 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

Mercedes-Benz Places is a 67-storey, 791-condo Brickell tower whose entry studios ask $1,669 a foot, 31 percent above the $1,276 that Brickell condos delivered since 2023 resell for this year. The brand and the 130,000 sf of amenities are real. What decides it is the money: J.P. Morgan's $860M construction loan is at term sheet, not closed, after a 2026 foreclosure suit on the land loan. The buy signal is that closing.

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

Closings per year 693 trailing 12 months, 33130, 33131, 33129, same band

Years of supply 1.1 this building alone

Band closes at $602/sf median of real closings, not asks

| Band, 33130, 33131, 33129 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500,000 – $1M | 449 | $650,000 | $602 |
| $1M – $2M | 197 | $1,295,000 | $795 |
| $2M – $3.5M | 47 | $2,425,000 | $1,065 |

**Absorption and timing**

Brickell (33130, 33131, 33129) closed 693 homes across this building's three bands in the last twelve months, so 791 condominiums are 1.1 years of that market, delivered at once into a submarket already carrying 17.4 months of inventory. Launch demand was real: SERHANT. reported 100 units reserved in four days. What the MLS shows since is slower: the 11 active listings have been open 416 to 791 days, with 6 more pending. The presold percentage is not published, and that is a finding.

## The market it lands in

Everything for sale in 33130, 33131, 33129 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 1568 homes listed across 33130, 33131, 33129

Sold, trailing year 1080 recorded closings, every price

Months of supply 17.4 under 6 favours sellers, over 12 favours buyers

Asking vs sold $712/sf asked, against $601/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, 33131, 33129 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,276/sf median of 25 closings this year

Movement since -21.6% across recently delivered buildings

This building asks $1,669/sf entry residences

Entry vs new stock +31% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 1 | withheld, 1 sale |
| 2024 | 5 | $1,628 |
| 2025 | 33 | $1,172 |
| 2026 | 25 | $1,276 |

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

$1,665–$1,669/sf

$755,900 – $3.26M listed · 453 – 1,958 sf · launched from $550,000 in 2024

Band closes at $602/sf $500,000 – $1M, trailing 12 months

Listed here today 11 median $1,764/sf

**A brand premium of about 30 percent**

Under $1M, Brickell closes at $602 a foot, mostly older stock. The fair benchmark is new construction: 25 resales this year in Brickell condominiums built since 2023, median $1,276. The studios ask $1,643 to $1,669, the one-bedrooms $1,673 to $1,974, so the premium for the name is about 30 percent. Studios launched from $550,000 in 2024 and Tower 2 studios list at $755,900 today. Two listings show 582 sf on a two- and a three-bedroom ($3,291 and $5,296 a foot): data errors, ignore them.

## On the MLS today

11 listings at this address are Active right now, pulled 2026-10-15. 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 |
|---|---|---|---|---|---|---|
| [T2-1805](https://bluebaybrokers.com/listing?mls=A11740943) | 0/1 | 453 sf | $755,900 | $1,669 | $1,336 | 484 |
| [T2-1616](https://bluebaybrokers.com/listing?mls=A11785536) | 0/1 | 472 sf | $775,500 | $1,643 | $1,336 | 426 |
| [T1-3607](https://bluebaybrokers.com/listing?mls=A11569985) | 1/1 | 830 sf | $1,455,500 | $1,754 | $1,336 | 782 |
| [T1-3217](https://bluebaybrokers.com/listing?mls=A11785545) | 1/1 | 912 sf | $1,525,500 | $1,673 | $1,336 | 416 |
| [T1-5610](https://bluebaybrokers.com/listing?mls=A11570464) | 1/1 | 803 sf | $1,585,500 | $1,974 | $1,293 | 781 |
| [T1-3814](https://bluebaybrokers.com/listing?mls=A11785555) | 2/2 | 582 sf | $1,915,500 | $3,291 | $1,336 | 416 |
| [T1-6402](https://bluebaybrokers.com/listing?mls=A11570493) | 2/3 | 1,332 sf | $2,349,050 | $1,764 | $2,145 | 791 |
| [T2-6003](https://bluebaybrokers.com/listing?mls=A11740972) | 2/3 | 1,321 sf | $2,798,775 | $2,119 | $1,718 | 494 |
| [T1-3816](https://bluebaybrokers.com/listing?mls=A11570532) | 3/3 | 1,640 sf | $2,998,275 | $1,828 | $2,640 | 791 |
| [T2-4209](https://bluebaybrokers.com/listing?mls=A11785563) | 3/3 | 582 sf | $3,082,275 | $5,296 | $1,336 | 426 |
| [T2-3801](https://bluebaybrokers.com/listing?mls=A11740981) | 3/4 | 1,958 sf | $3,260,775 | $1,665 | $1,718 | 494 |

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 5 photographs carried on MLS listing A11740943 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 $755,900 at 4.5% simple, 30 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $75,590 | $75,590 | 30 mo | −$8,504 |
| At groundbreaking (assumed standard) | 10% | $75,590 | $151,180 | 27 mo | −$7,653 |
| At top-off (assumed standard) | 10% | $75,590 | $226,770 | 12 mo | −$3,402 |
| At closing | 70% | $529,130 | $755,900 | 0 mo | −$0 |
| Committed before closing |  |  | $755,900 |  | −$19,559 |

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 $19,559, 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 453 sf.

| HOA at $1.5/sf/month | −$8,154 |
|---|---|
| Property tax at 2.02% of $755,900 | −$15,269 |
| Insurance (HO-6), $3.60/sf | −$1,631 |
| Annual carry, before any income | −$25,054 |

**What to secure before you sign**

Three things before any deposit. First, written confirmation that the J.P. Morgan loan has closed and the Cottonwood suit is settled. Second, where deposits are held and on what terms until then; the schedule is not published, so the carry above assumes the Miami standard 10/10/10/70 over 30 months. Third, the rental rule: the broker inventory sheet lists a six-month minimum, so this is a long lease or a residence, never nightly income. The dues on the listings are a flat $1,336 placeholder, not a budget.

## Delivery risk

| Construction financing | Not closed. J.P. Morgan leads a $1.11B package, an $860M construction loan plus about $250M of C-PACE from Nuveen Green Capital; term sheets are signed and closing is expected by year end (Commercial Observer, 30 September 2026). The 2022 $86M Maxim land loan matured unpaid in January 2025; Cottonwood bought it and sued to foreclose in April 2026, and JDS countersued in May. |
|---|---|
| Presold | Not disclosed |
| Delivery | 2028 per the broker inventory sheet; the 2024 launch targeted 2027. No date has been restated since the financing stalled, so treat 2028 as the earliest date rather than a schedule. |
| Developer | JDS Development Group (Michael Stern), with Jeffrey Soffer's Fontainebleau Development as co-developer since 2026. Mercedes-Benz licenses the brand, SERHANT. leads sales. |
| Rental policy | Marketed with a 6-month minimum stay (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · Mercedes-Benz Places Miami

### Wait for the loan to close, then negotiate

The product is strong and the brand sells: 100 units in four days at launch, Fontainebleau now beside JDS, and J.P. Morgan leading a $1.11B package. But the construction loan is not closed and the land loan went to foreclosure in 2026. Until the money closes, delivery is a plan, not a schedule.

When it closes, look at the one-bedrooms near $1,670 a foot, about 30 percent over delivered Brickell stock, and negotiate from the 17 months of inventory around the building. Until then, any deposit should be refundable or held in escrow.

## 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.

## Read next

- [Domus Brickell Center, Brickell, Delivering end 2027](https://bluebaybrokers.com/buildings/domus-brickell-center)
- [House of Wellness Brickell, Brickell, Delivering 2029](https://bluebaybrokers.com/buildings/house-of-wellness-brickell)
- [Meliá Miami Brickell, Brickell, Delivering 2027](https://bluebaybrokers.com/buildings/melia-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

- [Commercial Observer, Mercedes-Benz Miami project's $1.1B financing package (Sep 2026)](https://commercialobserver.com/?p=581001)
- [Bisnow, Michael Stern fires back at lender in fight for Mercedes-Benz-branded project (May 2026)](https://www.bisnow.com/news/south-florida/multifamily/michael-stern-sues-lender-back-over-mercedes-benz-foreclosure-suit-134540)
- [The Real Deal, Mercedes-Benz Places coverage](https://therealdeal.com/tag/mercedes-benz-places/)
- [duPont Registry, Mercedes-Benz expands Miami project with Tower 2 (Feb 2025)](https://news.dupontregistry.com/mercedes-benz/mercedes-benz-expands-miami-real-estate-project-with-tower-2)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-15. 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.