# Nexo Residences: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/nexo-residences
> 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

Nexo is as close to a finished trade as preconstruction gets. The structure topped off in June 2025, the $73.27M construction loan closed the month after, 90 percent of the building was sold before completion, and AvantStay is contracted to run the rental programme on site. You are four months from a deed, not four years, and the unit arrives furnished with an operator already in the lobby. That is the case. The price is set by that income programme and not by North Miami Beach: entry asks $1,251 a foot where the local band closes at $388. Buy it for what it distributes, and the arithmetic works. Buy it for what the postcode will pay you back, and it does not.

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

Closings per year 30 trailing 12 months, 33181, same band

Years of supply 8.5 this building alone

Band closes at $407/sf median of real closings, not asks

| Band, 33181 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $550K – $900K | 11 | $730,000 | $407 |
| $900K – $1.3M | 10 | $1,162,500 | $574 |
| $1.3M – $1.8M | 9 | $1,500,000 | $732 |

**What the resale market here can absorb**

The bands Nexo sells into closed 29 homes in 33181 over the trailing year, all prices, every seller. Against 254 units that is 8.8 years of supply from this building alone, and the postcode is already carrying 17.2 months of inventory, which is squarely a buyer's market. Two things soften it and one does not. It softens because 90 percent is presold, so the developer is not sitting on 254 unsold units competing with you; the overhang is a resale question, not a sell-out question. It softens again because the buyers here are national short-term-rental investors rather than local ones, and that pool does not clear through the 33181 MLS. What does not soften is the timing: if a large share of those owners decide to sell in the same year, this postcode cannot take them. Own this for the holding period, not for the flip, and if you do want an exit plan, plan on selling the income stream to another operator-investor rather than listing into North Miami Beach.

## The market it lands in

Everything for sale in 33181 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 271 homes listed across 33181

Sold, trailing year 187 recorded closings, every price

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

Asking vs sold $275/sf asked, against $289/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 33181 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 1 resale this year

Movement since — across recently delivered buildings

This building asks $1,251/sf entry residences

Entry vs new stock — below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2026 | 1 | withheld, 1 sale |

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

$955–$1,251/sf

Live asks $664,048 to $1,478,050 · 531 – 2,438 sf · launch price was $599,000

Band closes at $407/sf $550K – $900K, trailing 12 months

Listed here today 0 nothing on the MLS

**You are paying for the permission, not the postcode**

The entry residence asks $1,251 a foot. The band it sells into closed at $388 a foot over the trailing year, and 33181 as a whole paid $285. That is a multiple, not a premium, and pretending otherwise would be dishonest. What sits behind it is real: brand-new construction, delivered furnished, with nightly rental permitted and a contracted operator, in a postcode where none of that otherwise exists. You are buying an income licence attached to a condominium, and it is priced as one. The consequence is that the local comp set will not validate your basis and there is nothing here that says it should. Nexo is the first new condominium 33181 has delivered; there is no resold new stock in this postcode at all, so the honest position is that the resale value of this product here is unmeasured. Underwrite the distribution, and treat the square-foot price as the cost of entry to the programme rather than as a number the neighbourhood will confirm.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 13899 Biscayne Blvd, North Miami Beach FL 33181, 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.

## 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 $664,048 at 4.5% simple, 4 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard 10/10/10) | 30% | $199,214 | $199,214 | 4 mo | −$2,988 |
| At closing | 70% | $464,834 | $664,048 | 0 mo | −$0 |
| Committed before closing |  |  | $664,048 |  | −$2,988 |

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 $2,988, 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 531 sf.

| HOA at $1.17/sf/month | −$7,455 |
|---|---|
| Property tax at 2.02% of $664,048 | −$13,414 |
| Insurance (HO-6), $3.60/sf | −$1,912 |
| Annual carry, before any income | −$22,781 |

**Almost no dead capital left, and three documents to get**

This is the strongest structural feature of the trade and it is worth being explicit about. A buyer entering a typical Miami preconstruction commits a deposit and waits three or four years. Here the building is topped off and delivering, so on the standard 10/10/10/70 the whole front end lands at contract and the balance closes about four months later. The carry on that is a rounding error against the purchase, and the deposit risk that dominates every other page in this pipeline is essentially spent. Fortune has not published its schedule, so confirm it rather than assume it. Then get three documents before signing: the AvantStay operating agreement in full, with the term, the revenue split, the termination rights and who controls the calendar; the rental language in the recorded declaration, because an operator contract does not survive a declaration that contradicts it; and the first HOA budget, since the $1.17 a foot on the MLS is a developer estimate until an association adopts one.

## Delivery risk

| Construction financing | $73.27M closed July 2025. Bank Hapoalim lending, arranged by Berkadia. The tower topped off the month before, so the loan funds a finished structure rather than a hole in the ground, and there is an EB-5 tranche in the capital stack alongside it. |
|---|---|
| Presold | 90% at last disclosure |
| Delivery | 2026, per the developer, on a structure that topped off in June 2025. The carry table below models December, four months out. A building that is already topped off is the version of delivery risk worth taking. |
| Developer | Fortune International Group with Blue Road. Carlos Ott designed it with Frankel Benayoun as architect of record. Fortune sells and markets across South Florida at scale, which is the reason 90 percent of this building was gone before it was finished. |
| Rental policy | Short-term rentals, AvantStay operates on site |

## Recommendation

BlueBay Brokers · Nexo Residences

### Buy it for the income, and read the operator agreement first

This is the most complete version of the Miami short-term-rental condominium available right now. Topped off, funded with a closed $73.27M loan, 90 percent sold, delivering this year, furnished, and with AvantStay contracted on site before a single key is handed over. Most of what goes wrong in preconstruction has already not gone wrong here.

The price is underwritten on that rental programme and on nothing else. $1,251 a foot at entry against $388 in the band and $285 across the postcode, in a postcode that has never delivered a new condominium and therefore has no resale evidence to offer either way. Holding costs run about $22,800 a year on the entry unit before any income, of which the developer's $1.17 a foot HOA estimate is a third.

So: buy it as an operating asset with a long hold, not as a square-foot trade, and make the purchase conditional on reading the AvantStay agreement, the declaration's rental clause and the first HOA budget. The nightly-rate and occupancy model for this building sits on the pipeline dashboard, not on this page, and no figure on this page assumes either.

## 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.

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- [38 West Eleventh, Downtown, Delivering Q1 2028](https://bluebaybrokers.com/buildings/38-west-eleventh)
- [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, Fortune and Blue Road land $73M loan for the North Miami Beach condos (Jul 2025)](https://therealdeal.com/miami/2025/07/09/fortune-blue-road-land-73m-loan-for-nexus-residences/)
- [Florida YIMBY, $73.27M construction loan secured for Nexo Residences (Jul 2025)](https://floridayimby.com/2025/07/73-27-million-construction-loan-secured-for-nexo-residences-in-north-miami-beach.html)
- [Florida YIMBY, Nexo Residences tops off at 13899 Biscayne Boulevard (Jun 2025)](https://floridayimby.com/2025/06/nexo-residences-tops-off-construction-at-13899-biscayne-boulevard-in-north-miami-beach.html)
- [Developer site, nexoresidencesmiami.com](https://nexoresidencesmiami.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.