# Millux Place: preconstruction prices, deposits, rental rules

> Source: https://bluebaybrokers.com/buildings/millux-place
> 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

Millux Place is the cheapest way into a new, furnished, short-term-rental building in Brickell: studios from $500,000, delivered with Restoration Hardware furniture, by the developer that already built this exact format at Smart Brickell three blocks away. 79 of its 99 homes are studios, into a postcode that closes 233 homes a year in its price bands. The price list has already moved once, from $468,000 in July 2025, and it only moves up.

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

Closings per year 228 trailing 12 months, 33130, same band

Years of supply 0.4 this building alone

Band closes at $543/sf median of real closings, not asks

| Band, 33130 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $400,000 – $700,000 | 152 | $556,500 | $543 |
| $700,000 – $1.3M | 76 | $832,500 | $718 |

**Absorption is not the constraint**

33130 closed 153 homes between $400,000 and $700,000 in the last twelve months and 80 more up to $1.3M. 99 residences is under half a year of that. The postcode does carry 19 months of standing inventory, which gives any buyer leverage, and resale will compete with finished studios nearby. The early-buyer logic still holds: a developer list is set low at launch and raised as it sells, and Habitat has already lifted the entry from $468,000 to $500,000. The launch stack is the part to own.

## 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 510 homes listed across 33130

Sold, trailing year 322 recorded closings, every price

Months of supply 19.0 under 6 favours sellers, over 12 favours buyers

Asking vs sold $672/sf asked, against $554/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 $1,199/sf entry residences

Entry vs new stock +17% 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

$1,199–$1,218/sf

Studios from $500,000 · three-bedrooms from $1.1M · 351 – 903 sf interior

Band closes at $543/sf $400,000 – $700,000, trailing 12 months

Listed here today 0 nothing on the MLS

**What the entry ticket buys**

At $500,000 on the median 417 sf studio the entry works out near $1,200 a foot, between $1,012 and $1,425 depending on which studio carries that price. The band tables say $545, but those are conventional apartments twice the size. The honest comparable is Smart Brickell, same developer and format: 21 residences listed at a median $964 a foot and $505,000, and its two 2026 closings at $902 and $923. So Millux asks about 24 percent over what the finished sister building asks, and 30 percent over what it closed at this year. What that buys is a new building, a rooftop pool and the hotel program from day one. Buy it for the income, and negotiate the unit, not the concept.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 239 SW 12th St, Miami FL 33130, 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. It is also why this page carries no photograph: the MLS licence that lets us display a listing's images does not extend to a render off a brochure.

## Floor plans

Interior area and total area are stated separately, and the difference is the balcony. This matters because a listing that quotes the total looks cheaper per square foot than it is, and the County records only the interior. Every $/sf figure on this page uses interior area.

| Plan | Interior | Total | Balcony |
|---|---|---|---|
| Studio, smallest (15 units) | 351 sf | 351 sf | 0 sf |
| Studio, median line | 417 sf | 417 sf | 0 sf |
| Studio, largest | 494 sf | 560 sf | 66 sf |
| 1 bed + den | 599 sf | 599 sf | 0 sf |
| 2 bed / 2 bath | 824 sf | 984 sf | 160 sf |
| 3 bed / 2 bath | 901 sf | 1068 sf | 167 sf |

## 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 $500,000 at 4.5% simple, 30 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract | 5% | $25,000 | $25,000 | 30 mo | −$2,812 |
| 60 days after contract | 5% | $25,000 | $50,000 | 28 mo | −$2,625 |
| 120 days after contract | 5% | $25,000 | $75,000 | 26 mo | −$2,438 |
| 180 days after contract | 5% | $25,000 | $100,000 | 24 mo | −$2,250 |
| At groundbreaking (assumed month 4) | 10% | $50,000 | $150,000 | 26 mo | −$4,875 |
| At 4th floor (assumed) | 10% | $50,000 | $200,000 | 20 mo | −$3,750 |
| At top-off (assumed) | 10% | $50,000 | $250,000 | 14 mo | −$2,625 |
| At closing | 50% | $250,000 | $500,000 | 0 mo | −$0 |
| Committed before closing |  |  | $500,000 |  | −$21,375 |

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 $21,375, 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 417 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $500,000 | −$10,100 |
| Insurance (HO-6), $3.60/sf | −$1,501 |
| Annual carry, before any income | −$11,601 |

**What to secure before you sign**

Three ordinary requests. First the groundbreaking date in writing: the Q4 2026 schedule asks 20 percent in four instalments over six months before the ground is broken, and a later start stretches the carry. Second the association budget, which is not published; Smart Brickell runs about $1.37 a foot a month. Third the rental language in the recorded declaration: the fact sheet says approved for short-term rentals with no restrictions, and that claim is the reason to buy here. The same sheet also offers a 6 percent commission and the hotel program until 31 December 2026.

## Delivery risk

| Construction financing | Not published. BI Group has put about $30M of equity into its three-building Brickell partnership with Habitat (The Real Deal, July 2025), and Linkvest Capital financed the land. No construction loan has been announced for Millux Place. |
|---|---|
| Presold | Not disclosed |
| Delivery | Marketed Q4 2027 (BI Group, July 2025), after Q2 2027 in The Real Deal the same month; the broker sheet says 2028. No groundbreaking has been reported and the Q4 2026 deposit schedule still carries a groundbreaking installment, so the carry is modelled at 30 months. Parkside, the sister building, slipped a year after it broke ground. |
| Developer | Habitat Group (Santiago Vanegas) with BI Group USA at about 50 percent. Habitat delivered Smart Brickell, the same furnished condo-hotel format three blocks north, and runs a hotel program that, by Habitat's own count, about 70 percent of buyers join. Kobi Karp architecture, Habitat's own sales team. |
| Rental policy | Marketed by the developer as approved for short-term rentals with no rental restrictions (fact sheet); the recorded declaration has not been read |

## Recommendation

BlueBay Brokers · Millux Place

### The lowest ticket in the format, bought early

Millux gives a Brickell short-term-rental position for $500,000 with the furniture in, from a developer who has delivered this product before and whose sister building broke ground in April 2026. Under half a year of supply means the delivery does not flood its own market.

The trade-off is price against the finished sister: roughly $1,200 a foot new against $902 to $923 closed at Smart Brickell this year. Own a studio for the income, get the start date and the recorded rental language, and push on the unit price rather than accept the list.

## 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)
- [Meliá Miami Brickell, Brickell, Delivering 2027](https://bluebaybrokers.com/buildings/melia-brickell)
- [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, Central Asia's largest developer investing in Brickell condo projects (Jul 2025)](https://therealdeal.com/miami/2025/07/09/central-asias-largest-developer-investing-in-miami/)
- [BI Group mid-year update on Parkside, Millux Place and Season One (Jul 2025)](https://www.multifamilybiz.com/pressreleases/18002/miamibased_bi_group_provides_midyear_update_on_parkside_millux_place_and_season_one_developments_in_brickell_neighborhood)
- [Habitat Group, Millux Place portfolio page](https://habitatgroup.com/portfolio-millux-place/)
- [Habitat Group, Inside Habitat Group's vision for Miami's financial district (Sep 2025)](https://habitatgroup.com/habitat-news/inside-habitat-groups-vision-to-transform-miamis-financial-district/)
- [Developer site, milluxplacebrickell.com](https://milluxplacebrickell.com/)

**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.