# Onda Residences condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/onda-residences
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-12
> Contact: Carolina Peña, broker, new developments, English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. Study written by Steve Gabison, broker.
> 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

Onda Residences is a finished eight-storey, 41-residence waterfront building with its own marina on Bay Harbor Islands, by CMC Group and Morabito Properties, and the number that decides it is $1,244 a foot: the median of its 11 MLS closings in the last twelve months. The nine residences listed today ask a median $1,442. One of them, garden residence 203, asks $849. That gap is the negotiation.

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

Closings per year 106 trailing 12 months, 33154, same band

Years of supply 0.4 this building alone

Band closes at $1,063/sf median of real closings, not asks

| Band, 33154 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $1.75M – $3.5M | 62 | $2,425,000 | $1,063 |
| $3.5M – $8M | 44 | $5,075,000 | $1,575 |

**A quarter of the building traded in a year**

Eleven of 41 residences closed on the MLS in the last twelve months, $45.7M in all, and nine are listed today: about ten months of supply inside the building. 33154 holds 12.8 months, which favours buyers. The postcode closed 106 homes between $1.75M and $8M in the year, so the whole building is 0.4 years of that flow. Closings came a median 6.8 percent under the last asking price, after a median 183 days. Residence 504 shows the limit of a quick flip: $4,140,000 in November 2025, $4,380,000 in September 2026, a 5.8 percent gain before selling costs. Scarcity is real, a 41-residence building with a marina is not repeated nearby, but it rewards owners who hold.

## The market it lands in

Everything for sale in 33154 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 395 homes listed across 33154

Sold, trailing year 370 recorded closings, every price

Months of supply 12.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $1,032/sf asked, against $806/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 33154 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,345/sf median of 22 closings this year

Movement since +11.6% across recently delivered buildings

This building asks $849/sf entry residences

Entry vs new stock -37% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 5 | $1,205 |
| 2026 | 22 | $1,345 |

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

$849–$1,474/sf

Owners ask $1.9M to $5.9M on the MLS today · 1,646 – 5,073 sf · 11 closings in twelve months at a median $1,244/sf

Band closes at $1,063/sf $1.75M – $3.5M, trailing 12 months

Listed here today 9 median $1,442/sf

**Asks run 16 percent above the building's own closings**

The building closed between $919 a foot (residence 402, $2,060,000) and $1,674 (residence 505, $3,425,000), median $1,244 on 11 sales; penthouses 3 and 4 closed at $7,000,000 and $7,800,000 in March 2026, $1,591 and $1,538 a foot. Today's other asks run $1,299 to $1,740, and the median is $1,442 with 203 included. New condominiums in 33154 resell at $1,345 this year on 22 closings. So the building closes under its new-build peers and asks above them. Residence 203, the 2,333 sf garden plan at $1,980,000, is the exception at $849: under every closing in the building, listed 17 October 2026. Residence 307 asks $1,900,000 with no area on the MLS. All figures use MLS area.

## On the MLS today

9 listings at this address are Active right now, pulled 2026-11-12. 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 |
|---|---|---|---|---|---|---|
| [307](https://bluebaybrokers.com/listing?mls=A11974900) | 2/3 | — | $1,900,000 | — | $3,672 | 178 |
| [203](https://bluebaybrokers.com/listing?mls=A12108534) | 3/4 | 2,333 sf | $1,980,000 | $849 | $5,765 | 1 |
| [405](https://bluebaybrokers.com/listing?mls=A12117862) | 2/3 | 2,046 sf | $3,478,000 | $1,700 | $5,250 | 1 |
| [502](https://bluebaybrokers.com/listing?mls=A12118899) | 3/3 | 2,241 sf | $3,899,000 | $1,740 | $4,564 | 0 |
| [403](https://bluebaybrokers.com/listing?mls=A12079978) | 3/4 | 3,075 sf | $3,995,000 | $1,299 | $7,627 | 54 |
| [304](https://bluebaybrokers.com/listing?mls=A11998429) | 4/5 | 3,328 sf | $4,695,000 | $1,411 | $7,202 | 128 |
| [303](https://bluebaybrokers.com/listing?mls=A11992468) | 3/5 | 2,882 sf | $4,800,000 | $1,666 | $6,041 | 169 |
| [506](https://bluebaybrokers.com/listing?mls=A12086218) | 4/5 | 3,523 sf | $4,800,000 | $1,362 | $6,948 | 39 |
| [PH2](https://bluebaybrokers.com/listing?mls=A12068340) | 3/5 | 4,004 sf | $5,900,000 | $1,474 | $9,920 | 30 |

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 24 photographs carried on MLS listing A12117862 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.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 2,333 sf.

| HOA at $2.47/sf/month | −$69,150 |
|---|---|
| Property tax at 2.02% of $1,980,000 | −$39,996 |
| Insurance (HO-6), $3.60/sf | −$8,399 |
| Annual carry, before any income | −$117,545 |

**The association fee decides the income case**

The rental policy is not published and the recorded declaration has not been read; the MLS shows 11 closed leases, one advertised as a six-month furnished rental. Residence 203 leased at $11,500 a month in July 2026: $138,000 a year, 7.0 percent gross on its $1,980,000 ask. Its association fee is $5,765 a month, about $2.47 a foot, so fee, tax and insurance take $117,545 and leave $20,455, or 1.0 percent, before vacancy and upkeep. Other leases closed at $9,000 to $25,000 a month. This is a home on the water, bought for the address and the dock, not an income asset. Ask for the budget, the reserve study and what the fee covers.

## How it was built and sold

| Construction financing | Delivered, so construction debt is behind it. Bank OZK lent about $65M in June 2022 (The Real Deal, Commercial Observer). |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered. The Real Deal reported completion on 6 August 2024 with three of 41 residences unsold; Bridge YearBuilt reads 2024, and the first MLS closing was 4 March 2025. |
| Developer | CMC Group (Ugo Colombo) with Morabito Properties (Valerio Morabito), built by Coastal Construction. At completion the partners put sales at about $170M, on prices from $1.6M to $8M (The Real Deal, August 2024). |
| Rental policy | Rental policy not published; recorded declaration not read. MLS: 11 closed leases at the address, and one MLS remark advertises a six-month furnished rental |

## Recommendation

BlueBay Brokers · Onda Residences

### Buy it as a home, at the building's closing prices

A finished Ugo Colombo building of 41 residences on the water, with a marina, where a quarter of the homes changed hands in a year: the price is known, not guessed. The developer sold at $1.6M to $8M; penthouses have since closed at $7M and $7.8M.

Offer on the closings, about $1,244 a foot, not on the $1,442 asked, and look first at residence 203 at $849. Do not underwrite it on rent: the association fee leaves about 1 percent. Read the recorded rental language and the budget before signing.

## Questions buyers ask

### Does Onda Residences allow short-term rentals such as Airbnb?

Rental policy not published; recorded declaration not read. MLS: 11 closed leases at the address, and one MLS remark advertises a six-month furnished rental. Until the developer publishes it and the condominium declaration is recorded, nothing can be stated either way.

### What do residences at Onda Residences cost?

Owners ask $1.9M to $5.9M on the MLS today · 1,646 – 5,073 sf · 11 closings in twelve months at a median $1,244/sf. The study above sets these figures against what actually closed nearby.

### When does Onda Residences deliver?

Delivered. The Real Deal reported completion on 6 August 2024 with three of 41 residences unsold; Bridge YearBuilt reads 2024, and the first MLS closing was 4 March 2025.

### Who is developing Onda Residences?

CMC Group (Ugo Colombo) with Morabito Properties (Valerio Morabito), built by Coastal Construction. At completion the partners put sales at about $170M, on prices from $1.6M to $8M (The Real Deal, August 2024).

### Who can I talk to about buying at Onda Residences?

Carolina Peña, broker at BlueBay Brokers (Florida licence BK3288753), handles new developments, in English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. This study is independent, written by Steve Gabison, broker (BK3411036), from recorded County deeds and MLS closings.

## 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 full closing record unit by unit, what resellers are asking against what they paid, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

You are buying a resale here, so the seller's side pays the co-broke and representation costs you nothing. I argue from the recorded closing prices above, including what the current owner actually paid and when.

#### Before anything else

The rental policy here is not published, so I will not sell you a management plan on it. I will get the recorded declaration language and tell you what is actually permitted. That has to be true before the rest matters.

## Read next

- [La Baia North, Bay Harbor Islands, Q1 2027](https://bluebaybrokers.com/buildings/la-baia-north)
- [The Well Bay Harbor Islands, Bay Harbor Islands, Delivered 2026](https://bluebaybrokers.com/buildings/well-bay-harbor)
- [Origin Bay Harbor, Bay Harbor Islands, Delivering end 2026](https://bluebaybrokers.com/buildings/origin-bay-harbor)
- [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)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Onda Residences condo project completed in Bay Harbor Islands (August 2024)](https://therealdeal.com/miami/2024/08/06/onda-residences-condo-project-completed-in-bay-harbor-islands)
- [The Real Deal, Ugo Colombo's CMC and Morabito land $65M construction loan (June 2022)](https://therealdeal.com/miami/2022/06/15/ugo-colombos-cmc-and-morabito-land-65m-construction-loan-for-bay-harbor-condos)
- [Commercial Observer, Bank OZK lends $65M to finish boutique condo in Bay Harbor Islands (June 2022)](https://commercialobserver.com/2022/06/bank-ozk-lends-morabito-properties-cmc-group-onda-residences)
- [Florida YIMBY, Construction completes on Onda Residences at 1135 103rd Street](https://floridayimby.com/?p=28413)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-12. 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.