# One Metropica condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/one-metropica
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-17
> 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

One Metropica is a delivered 263-residence tower by Sawgrass Mills, and the number that decides it is $426: what its six closings of the last twelve months cleared per foot, while 34 listings ask a median $486. The same 1,026 sf two-bedroom that closed at $598,500 in 2023 resold at $400,000 in August 2026. For a buyer, that reset is the opportunity.

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

Closings per year 221 trailing 12 months, 33323, same band

Years of supply 1.2 this building alone

Band closes at $283/sf median of real closings, not asks

| Band, 33323 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $300K – $500K | 100 | $441,000 | $283 |
| $500K – $800K | 121 | $570,000 | $340 |

**A deep band, a slow building**

33323 closes 221 homes a year between $300,000 and $800,000, so the whole tower is 1.2 years of its band: the market is deep. The building itself is not. Six sales closed in twelve months against 34 listings, which at that pace is more than five years of inventory, and 16 of the 34 have already cut their price. Leasing is the opposite story: 37 leases closed in the same year. Owners here rent; few sell.

## The market it lands in

Everything for sale in 33323 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 151 homes listed across 33323

Sold, trailing year 261 recorded closings, every price

Months of supply 6.9 under 6 favours sellers, over 12 favours buyers

Asking vs sold $373/sf asked, against $332/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 33323 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 $354/sf entry residences

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

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 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

$354–$835/sf

34 residences for sale today, $265,000 to $2.17M, median ask $486/sf · 6 closings in the last 12 months at a median $426/sf · 93 MLS sales since 2021

Band closes at $283/sf $300K – $500K, trailing 12 months

Listed here today 34 median $486/sf

**Where it asks, and what clears**

Listings ask a median $486 a foot; the six closings cleared $426, from $381 to $452. In 2023 the building's closings cleared a median $501, so it has repriced about 15 percent lower, and the 02 stack more: $583 to $594 a foot in 2023, $390 in August 2026. The 33323 band reads $283 to $340, but it mixes older condominiums and houses; inside the building, the closings are the comparable. The penthouse listings ask $763 to $835 a foot, and no sale here has ever cleared above $662.

## On the MLS today

34 listings at this address are Active right now, pulled 2026-10-17, of which the 30 cheapest are shown. 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 |
|---|---|---|---|---|---|---|
| [615](https://bluebaybrokers.com/listing?mls=A12013831) | 1/2 | 749 sf | $265,000 | $354 | $1,044 | 162 |
| [505](https://bluebaybrokers.com/listing?mls=A11997308) | 1/2 | 780 sf | $305,000 | $391 | $1,011 | 189 |
| [305](https://bluebaybrokers.com/listing?mls=A11677693) | 1/2 | 702 sf | $308,000 | $439 | $978 | 685 |
| [412](https://bluebaybrokers.com/listing?mls=A11956382) | 1/1 | 677 sf | $325,000 | $480 | $807 | 207 |
| [802](https://bluebaybrokers.com/listing?mls=B26033059) | 2/2 | 1,121 sf | $399,000 | $356 | $1,279 | 118 |
| [502](https://bluebaybrokers.com/listing?mls=A12061841) | 2/2 | 1,026 sf | $399,000 | $389 | $1,430 | 78 |
| [1207](https://bluebaybrokers.com/listing?mls=A12015009) | 2/2 | 920 sf | $399,500 | $434 | $1,300 | 64 |
| [504](https://bluebaybrokers.com/listing?mls=A12063568) | 2/2 | 968 sf | $415,000 | $429 | $1,400 | 66 |
| [2108](https://bluebaybrokers.com/listing?mls=A11930542) | 2/2 | 877 sf | $420,000 | $479 | $970 | 247 |
| [2104](https://bluebaybrokers.com/listing?mls=A11915740) | 2/2 | 977 sf | $445,000 | $455 | $1,300 | 323 |
| [2304](https://bluebaybrokers.com/listing?mls=A12010564) | 2/2 | 977 sf | $475,000 | $486 | $1,405 | 36 |
| [2204](https://bluebaybrokers.com/listing?mls=A12010699) | 2/2 | 977 sf | $475,000 | $486 | $1,405 | 36 |
| [811](https://bluebaybrokers.com/listing?mls=B26042137) | 2/2 | 990 sf | $480,000 | $485 | $1,426 | 119 |
| [2307](https://bluebaybrokers.com/listing?mls=A11738796) | 2/2 | 920 sf | $485,000 | $527 | $1,325 | 487 |
| [417](https://bluebaybrokers.com/listing?mls=A12070637) | 1/2 | 1,007 sf | $498,000 | $495 | $1,190 | 53 |
| [801](https://bluebaybrokers.com/listing?mls=B26067757) | 3/3 | 1,262 sf | $535,000 | $424 | $1,759 | 13 |
| [2010](https://bluebaybrokers.com/listing?mls=A12060737) | 2/2 | 1,003 sf | $549,000 | $547 | $1,397 | 63 |
| [1410](https://bluebaybrokers.com/listing?mls=B26039325) | 2/2 | 1,003 sf | $550,000 | $548 | $1,445 | 111 |
| [901](https://bluebaybrokers.com/listing?mls=A12009048) | 3/3 | 1,262 sf | $550,000 | $436 | $1,800 | 171 |
| [1401](https://bluebaybrokers.com/listing?mls=A11955430) | 3/3 | 1,262 sf | $559,000 | $443 | $1,758 | 128 |
| [2009](https://bluebaybrokers.com/listing?mls=A12002891) | 3/3 | — | $579,000 | — | $1,810 | 182 |
| [2111](https://bluebaybrokers.com/listing?mls=A12070665) | 2/2 | 1,066 sf | $599,450 | $562 | $1,379 | 16 |
| [216](https://bluebaybrokers.com/listing?mls=B26019867) | 2/— | 1,420 sf | $617,417 | $435 | $2,000 | 175 |
| [1602](https://bluebaybrokers.com/listing?mls=A11947797) | 2/2 | 1,026 sf | $648,000 | $632 | $1,477 | 271 |
| [1509](https://bluebaybrokers.com/listing?mls=B26019266) | 3/3 | 1,297 sf | $650,000 | $501 | $1,850 | 170 |
| [2109](https://bluebaybrokers.com/listing?mls=A12094864) | 3/3 | 1,297 sf | $679,000 | $524 | $1,600 | 1 |
| [1609](https://bluebaybrokers.com/listing?mls=R11169240) | 3/3 | 1,297 sf | $695,000 | $536 | $1,871 | 198 |
| [1503](https://bluebaybrokers.com/listing?mls=B26058715) | 2/— | 1,179 sf | $699,900 | $594 | $1,642 | 56 |
| [2509](https://bluebaybrokers.com/listing?mls=A11860103) | 3/3 | 1,297 sf | $739,000 | $570 | $1,868 | 426 |
| [1701](https://bluebaybrokers.com/listing?mls=A11928329) | 3/3 | 1,262 sf | $759,000 | $601 | $1,817 | 179 |

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 A12002891 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 749 sf.

| HOA at $1.35/sf/month | −$12,134 |
|---|---|
| Property tax at 2.02% of $265,000 | −$5,353 |
| Insurance (HO-6), $3.60/sf | −$2,696 |
| Annual carry, before any income | −$20,183 |

**What it earns, and the association**

Two-bedrooms leased at a median $2,900 a month over the last year (23 leases). On the August resale at $400,000 that is 8.7 percent gross; after the association ($1,335 a month) and tax at about 1.95 percent of price it nets about 2.7 percent, before insurance and vacancy. The association is the risk: the same 1,026 sf plan carried $864 a month in 2022 and $1,335 now, up 55 percent.

## How it was built and sold

| Construction financing | Madison Realty Capital lent $30M in June 2021 against the 89 then-unsold upper-floor units and the site of a second tower (REBusiness). About 90 percent sold by September 2026. |
|---|---|
| Presold | 90% at last disclosure |
| Delivery | Delivered. The City of Sunrise issued the temporary certificate of occupancy in June 2020, with 75 percent sold (REBusiness). The retail component of the master plan is only now under construction after years of delay (South Florida Agent Magazine, September 2026). |
| Developer | Metropica Development LLC, led by Joseph Kavana of K Group Holdings. Remaining developer inventory moved to Compass (Miltiadis Kastanis, Bobby Auerbach) in September 2026. |
| Rental policy | Marketed as monthly rental, 30-day minimum (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · One Metropica

### Buy at the closings, not the list

For a buyer who wants a rentable two- or three-bedroom in a newer tower at a 2026 price, this is a reset building: closings at $381 to $452 a foot, against a 2023 median of $501. Offer from the six closings, not the 34 asks.

Ask for the association budget and reserve study before signing: the fee is up 55 percent since 2022 and it decides the net. Leave the penthouses until one closes.

## 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.

#### Once you own it

This building is monthly, not nightly, so Property Management Brickell LLC would run it as mid-term. Different rate, different occupancy, and I will show you that pro forma rather than a nightly one.

## Read next

- [Aria Reserve, Edgewater, Delivered 2025–2026](https://bluebaybrokers.com/buildings/aria-reserve)
- [Bentley Residences, Sunny Isles Beach, Delivering 2028](https://bluebaybrokers.com/buildings/bentley-residences)
- [Casa Bella Residences by B&B Italia, Downtown, Delivered 2026](https://bluebaybrokers.com/buildings/casa-bella)
- [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

- [REBusiness, Metropica Development completes 28-story residential tower (June 2020)](https://rebusinessonline.com/metropica-development-completes-28-story-residential-tower-first-phase-of-1-5b-mixed-use-project-in-south-florida/)
- [REBusiness, Madison Realty Capital provides $30M loan for two condominium properties at Metropica (June 2021)](https://rebusinessonline.com/madison-realty-capital-provides-30m-loan-for-two-condominium-properties-at-metropica-in-sunrise-florida)
- [South Florida Agent Magazine, Kastanis and Auerbach to lead sales of remaining Metropica One condos (September 2026)](https://southfloridaagentmagazine.com/2026/09/04/kastanis-auerbach-metropica/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-17. 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.