# One Twenty Brickell: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/one-twenty-brickell
> 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

One Twenty Brickell is the PMG formula in central Brickell: 266 furnished residences, each sold with a deeded office suite you can rent on its own, financed by a $413M Ares and Monarch loan and sold out in August 2025. The developer has nothing left. Two doors remain: an assignment from an original buyer now, near the 2024 launch list, or the closing wave in 2028.

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

Closings per year 501 trailing 12 months, 33130, 33131, same band

Years of supply 0.5 this building alone

Band closes at $608/sf median of real closings, not asks

| Band, 33130, 33131 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500K – $900K | 365 | $640,000 | $608 |
| $900K – $1.6M | 136 | $1,187,500 | $785 |

**Absorption: the closing wave**

Across 33130 and 33131, 362 homes closed at $500K to $900K and 139 at $900K to $1.6M in the last twelve months. 266 units is about six months of that flow, a light load for a submarket this deep, and the developer's own absorption is finished. The two postcodes carry 17.8 months of supply and ask $707 a foot against $604 paid, but that is older stock. The real competition at delivery is furnished nightly product: 29 listings at The Crosby and 24 at 501 First today.

## The market it lands in

Everything for sale in 33130, 33131 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 1319 homes listed across 33130, 33131

Sold, trailing year 885 recorded closings, every price

Months of supply 17.9 under 6 favours sellers, over 12 favours buyers

Asking vs sold $709/sf asked, against $604/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, 33131 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,274/sf median of 23 closings this year

Movement since +8.4% across recently delivered buildings

This building asks $1,333/sf entry residences

Entry vs new stock +5% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 1 | withheld, 1 sale |
| 2024 | 4 | withheld, 4 sales |
| 2025 | 32 | $1,175 |
| 2026 | 23 | $1,274 |

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

$1,071–$1,333/sf

Sold out (PMG, August 2025) · launched at $600,000 to about $1.5M (The Real Deal, 2024) · 450 – 1,400 sf · deeded office suite with every residence · nothing listed on the MLS today

Band closes at $608/sf $500K – $900K, trailing 12 months

Listed here today 0 nothing on the MLS

**Launch basis against delivered nightly stock**

The 2024 list ran from $600,000 on about 450 sf, near $1,333 a foot, to about $1.5M on 1,400 sf, near $1,071. Delivered furnished nightly stock resells lower at the small end: Smart Brickell's seven MLS resales closed at a median $923 a foot, The Crosby's two at $970 and $1,157, while E11EVEN's 28 listings ask $1,202 to $1,818. The larger plans sit in line with that market; the studios carry a premium. Price an assignment plan by plan, and value the office suite on its own.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 120 SW 8th 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.

## 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 $600,000 at 4.5% simple, 18 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| Deposits already paid by the original buyer (assumed standard), reimbursed at assignment | 30% | $180,000 | $180,000 | 18 mo | −$12,150 |
| At closing (2028) | 70% | $420,000 | $600,000 | 0 mo | −$0 |
| Committed before closing |  |  | $600,000 |  | −$12,150 |

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 $12,150, 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 450 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $600,000 | −$12,120 |
| Insurance (HO-6), $3.60/sf | −$1,620 |
| Annual carry, before any income | −$13,740 |

**What to secure before you sign**

An assignment needs PMG's written consent and usually a fee; get both, and the original contract, since you reimburse the deposits already paid. The schedule is not published; we assume 30 percent paid, about $180,000 on a $600,000 studio, idle eighteen months, with the 70 percent balance at closing. Ask for both association budgets, residential and office, and for the rental language in the declaration: short-term rental is a broker-sheet claim, not a published developer statement.

## Delivery risk

| Construction financing | Closed. $413M construction loan from Ares Real Estate and Monarch Alternative Capital, April 2025, arranged by JLL, covering the condominium, the 537-unit rental tower, retail and parking; the condominium was 91 percent presold at closing. |
|---|---|
| Presold | 100% at last disclosure |
| Delivery | 2028. Ground broke 30 April 2025; PMG gave early 2028 at launch and 2028 in the loan release, while the broker sheet still says 2027. The model holds eighteen months. |
| Developer | PMG (Property Markets Group), led by Ryan Shear and Dan Kaplan, the developer behind E11EVEN Hotel & Residences and 38 West Eleventh. Sieger Suarez Architects, PMG Residential sales. A 41-storey, 537-unit rental tower shares the site. |
| Rental policy | Marketed as short-term-rental friendly (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · One Twenty Brickell

### Buy the larger plans, or wait for the wave

A financed, sold-out PMG tower in central Brickell, furnished, with a deeded office suite on every residence. Delivery risk is low; the open question is how 266 owners price at closing in 2028.

Take an assignment on the one- to three-bedrooms near the launch list, around $1,100 a foot. On a studio, wait for 2028 and offer toward the $920 to $1,160 a foot that Smart Brickell and The Crosby actually close at.

## 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)
- [Millux Place, Brickell, Delivering 2028 (marketed Q4 2027)](https://bluebaybrokers.com/buildings/millux-place)
- [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, PMG to launch sales of 34-story Brickell condo tower (Mar 2024, prices and sizes)](https://therealdeal.com/miami/2024/03/19/pmg-to-launch-sales-of-34-story-brickell-condo-tower/)
- [The Real Deal, PMG lands $413M construction loan for Brickell towers (Apr 2025)](https://therealdeal.com/miami/2025/04/28/pmg-lands-413m-construction-loan-for-brickell-towers/)
- [Commercial Observer, PMG lands $413M to build condo and rental towers (Apr 2025)](https://commercialobserver.com/2025/04/pmg-ares-real-estate-monarch-alternative-capital-one-twenty-brickell-residences-miami/)
- [PROFILEmiami, PMG launches One Twenty Brickell Signature following sellout of first tower (Apr 2026)](https://profilemiami.com/miamirealestate/2026/4/27/pmg-launches-one-twenty-brickell-signature-residences-with-deeded-private-office-suites-following-sellout-of-first-tower)

**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.