# Midtown Park by Proper: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/midtown-park-proper
> 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

Midtown Park is the Standard Midtown team doing it again, one block over and one brand up: Proper, Arquitectonica, a padel club and 120,000 sf of retail on a five-acre master plan. The entry studio is listed at $594,900, $1,160 a foot, under the low $700,000s the launch was reported at. That is below the $1,273 a foot the delivered Standard Midtown resales ask today, and the early buyer takes the first price in a six-building plan.

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

Closings per year 438 trailing 12 months, 33127, 33137, same band

Years of supply 0.7 this building alone

Band closes at $550/sf median of real closings, not asks

| Band, 33127, 33137 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500K – $750K | 183 | $620,000 | $550 |
| $750K – $1.2M | 128 | $898,500 | $700 |
| $1.2M – $3M | 127 | $1,715,000 | $939 |

**Absorption and timing**

Midtown and Wynwood's west side closed 183 homes at $500K to $750K, 129 at $750K to $1.2M and 129 at $1.2M to $3M in the trailing year across 33127 and 33137. 288 residences into that flow is about eight months of supply: the building is small against its market, which is the structural case for it. The counterweight is the wider board, 13.7 months of supply across both postcodes, a buyer's market, and the timing: no groundbreaking and no construction loan have been reported. Buy early for the price list, and ask for the percentage presold before pricing that advantage.

## The market it lands in

Everything for sale in 33127, 33137 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 712 homes listed across 33127, 33137

Sold, trailing year 621 recorded closings, every price

Months of supply 13.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $776/sf asked, against $630/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 33127, 33137 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,002/sf median of 48 closings this year

Movement since -1.5% across recently delivered buildings

This building asks $1,160/sf entry residences

Entry vs new stock +16% 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 | 48 | $1,002 |

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

$1,160–$1,561/sf

Listed today from $594,900 · launched from the low $700,000s to $2.7M · 510 – 1,730 sf · penthouses above

Band closes at $550/sf $500K – $750K, trailing 12 months

Listed here today 1 median $1,160/sf

**What $1,160 a foot buys, and the right yardstick**

The band table's $551 a foot is the wrong comparison: at $500K to $750K these postcodes sell older apartments near twice the size of a Proper studio. The honest yardstick is new stock. Condominiums built since 2023 in 33127 and 33137 resold at a median $997 a foot on 47 closings this year, down 2.0 percent since 2023. Hyde Midtown, the 2018 small-format building next door, closed 14 homes at $738. So the entry studio carries about a 16 percent premium over delivered new stock, for a brand and a master plan. The upper stack, near $1,561, is a home purchase.

## On the MLS today

1 listing at this address is 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 |
|---|---|---|---|---|---|---|
| [410](https://bluebaybrokers.com/listing?mls=A11985865) | 0/1 | 513 sf | $594,900 | $1,160 | — | 89 |

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 13 photographs carried on MLS listing A11985865 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 $594,900 at 4.5% simple, 30 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (as marketed) | 20% | $118,980 | $118,980 | 30 mo | −$13,385 |
| At groundbreaking | 10% | $59,490 | $178,470 | 27 mo | −$6,023 |
| Six months after groundbreaking | 10% | $59,490 | $237,960 | 21 mo | −$4,685 |
| At top-off | 10% | $59,490 | $297,450 | 10 mo | −$2,231 |
| At closing | 50% | $297,450 | $594,900 | 0 mo | −$0 |
| Committed before closing |  |  | $594,900 |  | −$26,324 |

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 $26,324, 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 513 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $594,900 | −$12,017 |
| Insurance (HO-6), $3.60/sf | −$1,847 |
| Annual carry, before any income | −$13,864 |

**What to secure before you sign**

Three things, all ordinary broker requests. The deposit schedule in writing: the 20/10/10/10/50 above is how resale brokers market it, heavier at signing than the Miami standard, and half the price is committed before a deed. The rental language in the recorded declaration, since the short-term-rental claim comes from a broker sheet, not a document. And the association budget, which is not published: the MLS listing carries a fee of zero. Measure MLS areas against the plan sheets too, because new-construction listings often quote the balcony.

## Delivery risk

| Construction financing | Not published. No construction financing for Midtown Park Residences has been reported in the trade press; the City of Miami approved the master plan in October 2025. |
|---|---|
| Presold | Not disclosed |
| Delivery | 2028, per the developer's marketing. No groundbreaking has been reported, so the model holds 30 months to delivery, the usual build time for a 28-storey tower, rather than the marketed year. |
| Developer | Rosso Development (Carlos Rosso, formerly of the Related Group) and Midtown Development (Alex Vadia), with Proper Hospitality. The same Rosso and Vadia team delivered The Standard Midtown in April 2026 and repaid its construction loan from closings. Arquitectonica, Meyer Davis interiors, Fortune Development Sales. |
| Rental policy | Marketed as short-term-rental friendly (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · Midtown Park by Proper

### Take the entry stack, on paper terms

The team is proven: Rosso and Vadia delivered The Standard Midtown this year and repaid its loan from closings. The market is deep, eight months of supply in its bands, and the entry studio asks less than that building's resales.

Buy a studio or one-bedroom at the launch price list, where the Midtown buyer pool is deepest. Get the written deposit schedule, the presold figure, the loan status and the recorded rental language first; the premium over delivered new stock is the price of the brand.

## 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

- [The Standard Residences, Midtown Miami, Midtown Miami, Delivered April 2026](https://bluebaybrokers.com/buildings/standard-midtown)
- [Frida Kahlo Wynwood Residences, Wynwood, Delivering Q2/Q3 2028](https://bluebaybrokers.com/buildings/frida-kahlo-wynwood)
- [NoMad Residences Wynwood, Wynwood, Delivered May 2026](https://bluebaybrokers.com/buildings/nomad-wynwood)
- [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, Carlos Rosso, Alex Vadia and Proper launch Midtown Miami project (Apr 2025)](https://therealdeal.com/miami/2025/04/02/carlos-rosso-alex-vadia-proper-launch-midtown-miami-project/)
- [Florida YIMBY, $2 billion Midtown Park master plan receives approval (Oct 2025)](https://floridayimby.com/2025/10/2-billion-midtown-park-master-plan-receives-approval-from-city-of-miami.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.