# ORA by Casa Tua: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/ora-casa-tua
> 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

ORA is the only 77-storey tower on Brickell Avenue sold on nightly-rental eligibility, delivered furnished, with Casa Tua running the hospitality. Forty-five percent of 533 residences went before a shovel moved, two thirds of them to foreign buyers. That is the product, and it prices like it: entry residences ask about $1,600 a foot where the same band in 33131 closes at $753. You are not buying square feet here. You are buying the rental permission.

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

Closings per year 207 trailing 12 months, 33131, same band

Years of supply 2.6 this building alone

Band closes at $741/sf median of real closings, not asks

| Band, 33131 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $800K – $1.5M | 123 | $1,075,000 | $741 |
| $1.5M – $3M | 61 | $1,850,000 | $1,008 |
| $3M and above | 23 | $4,200,000 | $1,230 |

**The queue is short, and the price list only moves one way**

Brickell 33131 closed 217 homes across ORA's three bands in the trailing twelve months. Five hundred and thirty-three residences is about two and a half years of that, which for a tower this size is a short queue rather than a glut, and it is why Fortune has not had to discount. A developer price list is set low at launch to build momentum and raised as inventory depletes, so the launch cohort at $800,000 holds the cheapest price this building will ever carry and the best plans in it, and every later buyer validates that basis. Forty-five percent is already gone. What is left is the inventory the developer no longer needs to move, which makes this a question of timing rather than of patience.

## The market it lands in

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

Active inventory 809 homes listed across 33131

Sold, trailing year 563 recorded closings, every price

Months of supply 17.2 under 6 favours sellers, over 12 favours buyers

Asking vs sold $733/sf asked, against $635/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 33131 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,275/sf median of 20 closings this year

Movement since +3.1% across recently delivered buildings

This building asks $1,800/sf entry residences

Entry vs new stock +41% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 3 | withheld, 3 sales |
| 2025 | 26 | $1,237 |
| 2026 | 20 | $1,275 |

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 $1,800–$2,023/sf From $800,000 · 500 – 2,400 sf · delivered furnished

Band closes at $741/sf $800K – $1.5M, trailing 12 months

Listed here today 0 nothing on the MLS

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

Entry residences work out near $1,600 a foot. The $800,000 to $1.5M band in 33131 closed at a median of $753 over the trailing year, so the ask is roughly double, and that gap is the whole discussion. It is not like-for-like: a conventional Brickell condominium cannot be rented by the night. The honest comparison is delivered short-term-rental product, and Natiivo, Gale, 501 First and The Elser closed 28 units in Park West this year at a median of $942 a foot. ORA still asks roughly seventy percent above that, for Brickell Avenue rather than Park West and for the Casa Tua platform. Read the resale table above with care as well: 47 of the 50 recent-delivery closings in 33131 are Aston Martin Residences, so that $1,266 a foot is one waterfront tower's sell-out, not a market.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 1210 Brickell Ave, Miami FL 33131, 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 $800,000 at 4.5% simple, 40 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $80,000 | $80,000 | 40 mo | −$12,000 |
| At groundbreaking | 10% | $80,000 | $160,000 | 40 mo | −$12,000 |
| At top-off | 10% | $80,000 | $240,000 | 12 mo | −$3,600 |
| At closing | 70% | $560,000 | $800,000 | 0 mo | −$0 |
| Committed before closing |  |  | $800,000 |  | −$27,600 |

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 $27,600, 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 500 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $800,000 | −$16,160 |
| Insurance (HO-6), $3.60/sf | −$1,800 |
| Annual carry, before any income | −$17,960 |

**Three things to get before you sign**

All three are ordinary requests a developer expects from a broker. First the recorded declaration language, because nightly rental is a marketing claim until it is an instrument, and Fortune has been consistent about it without it being recorded. Second the construction loan: $36.08M of pre-development money closed in July 2024 and nothing larger has been reported since, so ask what is committed and on what conditions. Third the real deposit schedule. The carry below uses the Miami standard because Fortune has not published theirs, and marketing sites report a twenty percent first instalment, which on 40 months would raise this cost materially. None of the three is a reason to hesitate. They are what you negotiate.

## Delivery risk

| Construction financing | $36.08M of pre-development financing from Amerant Bank closed in July 2024, arranged by Berkadia. No full construction facility has been reported since, so the tower is funded to start rather than funded to finish. |
|---|---|
| Presold | 45% at last disclosure |
| Delivery | 2029. That is the developer's target and it is the year of construction Bridge carries on the single residence listed on the MLS. Groundbreaking was targeted for 2025, after the July 2024 site purchase. |
| Developer | Fortune International Group, Edgardo Defortuna, with the Casa Tua hospitality brand. Fortune bought the 46,373 sf site at 1210 Brickell Avenue in July 2024 for $31.2M. Architecture by Arquitectonica, interiors by m2atelier. |
| Rental policy | Three-night minimum, run by the building’s own hospitality arm. The developer markets it as short-term-rental eligible and delivers it furnished for that, but this is not open nightly use. No Declaration of Condominium is recorded yet, so the permission is a sales claim and not an instrument. |

## Recommendation

BlueBay Brokers · ORA by Casa Tua

### Buy the entry stack, and buy the policy first

Fortune has built in Miami for forty years, bought this site outright for $31.2M, and sold 45 percent of a 533-unit tower before groundbreaking with two thirds of buyers foreign. That demand is real, and it is not being bought with price.

You are paying about twice the postcode's closing rate for nightly-rental permission that is not yet recorded. Own the smallest plans, where the rental arithmetic works hardest, and make the recorded declaration a condition of your deposit.

## 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.

## Read next

- [619 Brickell, Brickell, end of 2030 (developer deposit schedule)](https://bluebaybrokers.com/buildings/619-brickell)
- [LOFTY Brickell, Brickell, 2027](https://bluebaybrokers.com/buildings/lofty-brickell)
- [The Residences at 1428 Brickell, Brickell, 2027](https://bluebaybrokers.com/buildings/1428-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)

## Sources

- [The Real Deal, Fortune taps EB-5 for Ora by Casa Tua (Aug 2025)](https://therealdeal.com/miami/2025/08/20/fortune-taps-eb-5-for-ora-by-casa-tua-brickell-tower/)
- [The Real Deal, Fortune scores $36M predevelopment loan (Jul 2024)](https://therealdeal.com/miami/2024/07/10/fortune-scores-36m-loan-for-casa-tua-condo-tower-in-brickell/)
- [Commercial Observer, Fortune pays $31M for the Brickell site](https://commercialobserver.com/2024/07/fortune-international-ora-by-casa-tua/)
- [Florida YIMBY, site and financing secured for the 77-storey tower](https://floridayimby.com/2024/07/site-and-financing-secured-for-77-story-ora-by-casa-tua-in-miamis-brickell-financial-district.html)
- [Developer site, orabycasatua.com](https://orabycasatua.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.