# Pagani Residences: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/pagani-residences
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-18
> 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

Pagani Residences is the first building to carry the hypercar maker's name: 70 residences on the North Bay Village waterfront, ground broken in May 2026 for late 2028. The number that decides it is $1,850 to $2,055 a foot at the entry, against $1,317 at which homes in the same 33141 price band closed this year. You are paying for a brand and a product with no peer in the postcode, and you hold that premium for two years.

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

Closings per year 46 trailing 12 months, 33141, same band

Years of supply 1.5 this building alone

Band closes at $1,317/sf median of real closings, not asks

| Band, 33141 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $3.5M – $5M | 15 | $4,100,000 | $1,317 |
| $5M – $8M | 11 | $6,150,000 | $1,555 |
| $8M and above | 20 | $11,500,000 | $2,305 |

**A year and a half of demand, and the early-buyer answer**

70 residences against 46 closings a year above $3.5M in 33141 is about a year and a half of the postcode's entire luxury demand, arriving at once in late 2028. That is the timing fact, and the early-buyer argument is the answer to it. The floor has already moved from $2.4M at the 2024 launch to $3.7M in January 2026 (The Real Deal), so the first buyers have their basis validated before the tower tops off. A buyer entering now is mid-list, and the plans to own are the entry ones, where the resale pool is deepest.

## The market it lands in

Everything for sale in 33141 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 559 homes listed across 33141

Sold, trailing year 518 recorded closings, every price

Months of supply 12.9 under 6 favours sellers, over 12 favours buyers

Asking vs sold $500/sf asked, against $437/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 33141 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,845/sf median of 11 closings this year

Movement since — across recently delivered buildings

This building asks $1,850/sf entry residences

Entry vs new stock +0% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 11 | $1,845 |
| 2026 | 2 | withheld, 2 sales |

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

$1,850–$2,121/sf

From $3.7M (The Real Deal, Jan 2026) · four residences listed at $4.19M to $12.97M · about 2,000 – 3,300 sf

Band closes at $1,317/sf $3.5M – $5M, trailing 12 months

Listed here today 4 median $2,105/sf

**Priced at the top of the postcode, before delivery**

The published floor, $3.7M on about 2,000 sf, works out near $1,850 a foot, level with the $1,845 at which 33141 stock built since 2023 resold in 2025: at the entry you pay what recent new buildings already fetch. The four residences Fortune International lists ask $1,833 to $2,155, and $2,691 on a 4,818 sf residence at $12,965,000, against $1,317 for the $3.5M to $5M band and $1,555 for $5M to $8M. So Pagani sits 40 to 55 percent over the band. MLS areas on new construction often count the terrace, and these plans sell on wraparound terraces: ask for the interior figure.

## On the MLS today

4 listings at this address are Active right now, pulled 2026-10-18. 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 |
|---|---|---|---|---|---|---|
| [2104](https://bluebaybrokers.com/listing?mls=A11981069) | 2/3 | 2,038 sf | $4,187,500 | $2,055 | $3,567 | 87 |
| [1503](https://bluebaybrokers.com/listing?mls=A12049638) | 3/4 | 2,402 sf | $4,403,900 | $1,833 | $4,203 | 0 |
| [1501](https://bluebaybrokers.com/listing?mls=A12049649) | 4/5 | 3,247 sf | $6,998,200 | $2,155 | $5,682 | 0 |
| [SR02](https://bluebaybrokers.com/listing?mls=A11981082) | 4/5 | 4,818 sf | $12,965,000 | $2,691 | $8,432 | 103 |

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 A11981069 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.

## 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 $4,187,500 at 4.5% simple, 26 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $418,750 | $418,750 | 26 mo | −$40,828 |
| At groundbreaking (May 2026, already passed) | 10% | $418,750 | $837,500 | 26 mo | −$40,828 |
| At top-off | 10% | $418,750 | $1,256,250 | 10 mo | −$15,703 |
| At closing | 70% | $2,931,250 | $4,187,500 | 0 mo | −$0 |
| Committed before closing |  |  | $4,187,500 |  | −$97,359 |

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 $97,359, 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 2,000 sf.

| HOA at $1.75/sf/month | −$42,000 |
|---|---|
| Property tax at 2.02% of $4,187,500 | −$84,588 |
| Insurance (HO-6), $3.60/sf | −$7,200 |
| Annual carry, before any income | −$133,788 |

**What the deposit costs, and what to ask**

Riviera Horizons has not published its schedule, so the table assumes the Miami standard 10/10/10/70. Groundbreaking has passed, so the first two tranches fall at contract: on the entry plan that is $837,500 committed for 26 months, before the top-off call. Two items to get in writing before signing. The construction loan, which has not been announced. And the rental language of the declaration, which is not published.

## Delivery risk

| Construction financing | None announced. No construction financing has been reported in the trade press as of October 2026, and the developer had disclosed neither financing nor presales at the May 2026 groundbreaking. |
|---|---|
| Presold | Not disclosed |
| Delivery | Late 2028, per the developer at the May 2026 groundbreaking. Earlier coverage said 2027. |
| Developer | Riviera Horizons, founded by Mikael Hamaoui, in partnership with Pagani Automobili. Sales through Fortune International Realty, which lists all four residences on the MLS. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · Pagani Residences

### Buy the brand, early in the stack

A singular product: the first Pagani-branded residences anywhere, 70 units with private elevators and wraparound terraces, sold by Fortune International, ground broken in May 2026. Buyers who entered at the $2.4M launch floor are already well ahead of today's $3.7M.

Buy it for the brand and the home, not as a trade against the market: the ask runs 40 to 55 percent over what 33141 closes at. Get the construction loan and the deposit schedule in writing, and negotiate on the entry plans.

## 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.

#### 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.

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- [7200 Collins, North Beach, Delivering 2027](https://bluebaybrokers.com/buildings/7200-collins)
- [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, Pagani Residences revs up car concierge with Prestige Imports (Jan 2026)](https://therealdeal.com/miami/2026/01/21/pagani-residences-taps-prestige-imports-to-drive-sales/)
- [The Real Deal, Riviera Horizons to launch sales of Pagani-branded North Bay Village condos (Mar 2024)](https://therealdeal.com/miami/2024/03/06/riviera-horizons-to-launch-sales-of-pagani-residences/)
- [Florida YIMBY, Riviera Horizons and Pagani team up (Mar 2024)](https://floridayimby.com/2024/03/riviera-horizons-and-pagani-team-up-for-the-worlds-first-pagani-residences-in-miamis-north-bay-village.html)
- [Town of North Bay Village, Pagani Residences break ground (2026)](https://northbayvillage-fl.gov/watch-worlds-first-pagani-residences-break-ground-in-north-bay-village-%E2%9C%A8/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-18. 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.