# Palm Tree Residences Miami: prices and deposits

> Source: https://bluebaybrokers.com/buildings/palm-tree-residences
> 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

Palm Tree Residences opened sales in June 2026 from $500,000, and that is the lowest price this list will ever carry. Four hundred and eighty-three furnished residences in Park West with no rental restriction, one block from E11even, at about $1,018 a foot. Delivered short-term-rental stock two streets away closes at $942. You are buying new, four years early, close to what finished product already fetches.

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

Closings per year 190 trailing 12 months, 33136, 33132, same band

Years of supply 2.5 this building alone

Band closes at $558/sf median of real closings, not asks

| Band, 33136, 33132 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500K – $800K | 117 | $590,000 | $558 |
| $800K – $1.2M | 47 | $988,000 | $633 |
| $1.2M – $1.8M | 26 | $1,350,000 | $721 |

**Four years out, on a list with four years left to rise**

Park West and its neighbours, 33136 with 33132, closed 205 homes across Palm Tree's three bands in the trailing twelve months. Four hundred and eighty-three residences is about two and a third years of that, a short queue for a tower this size and well inside what these blocks have absorbed before. Measuring 33136 on its own would have been dishonest: it closed seven homes across the entire range in a year, so the basis here is the Park West market the building actually competes in, where Natiivo, Gale, 501 First and The Elser already sit. Delivery is 2030, so the launch cohort holds the cheapest price and the best plans on a list with four years left to move up.

## The market it lands in

Everything for sale in 33136, 33132 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 859 homes listed across 33136, 33132

Sold, trailing year 434 recorded closings, every price

Months of supply 23.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $814/sf asked, against $532/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 33136, 33132 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $877/sf median of 16 closings this year

Movement since -22.3% across recently delivered buildings

This building asks $1,018/sf entry residences

Entry vs new stock +16% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 8 | $1,128 |
| 2025 | 16 | $869 |
| 2026 | 16 | $877 |

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 $1,018–$1,489/sf $500,000 – $1.8M · 491 – 1,209 sf interior · delivered furnished

Band closes at $558/sf $500K – $800K, trailing 12 months

Listed here today 0 nothing on the MLS

**New, four years early, at the price of finished**

The smallest published plan is 491 interior feet and the lowest published price is $500,000, so entry works out near $1,018 a foot. The $500,000 to $800,000 band in these postcodes closed at $554, but that band is mostly conventional apartments that cannot be rented by the night. Against the right comparison, the delivered short-term-rental cohort of Natiivo, Gale, 501 First and The Elser, 28 closings this year at a median of $942 a foot, Palm Tree asks about eight percent more for a brand-new furnished unit four years before delivery. That is a genuinely favourable basis. Two cautions. The plan schedule states interior and terrace separately, so a quote using the combined figure looks cheaper per foot than it is. And the resale table above reads minus twenty three percent: 26 of those 45 closings are Natiivo and Gale, one address selling through its own delivery, so that is a change of mix and not of value.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 31 NW 10th St, Miami FL 33136, 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 $500,000 at 4.5% simple, 48 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $50,000 | $50,000 | 48 mo | −$9,000 |
| At groundbreaking | 10% | $50,000 | $100,000 | 42 mo | −$7,875 |
| At top-off | 10% | $50,000 | $150,000 | 14 mo | −$2,625 |
| At closing | 70% | $350,000 | $500,000 | 0 mo | −$0 |
| Committed before closing |  |  | $500,000 |  | −$19,500 |

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 $19,500, 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 491 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $500,000 | −$10,100 |
| Insurance (HO-6), $3.60/sf | −$1,768 |
| Annual carry, before any income | −$11,868 |

**What is not yet real**

This is the earliest-stage building on the site and the risks are the stage rather than the project. Nothing is recorded. There is no Declaration of Condominium, so no lease restriction is a marketing sentence and not an instrument. No construction loan has been reported and no percentage presold has been published, which is normal ten weeks after launch and is still an absence rather than a reassurance. The schedule below is the Miami standard because PMG has not published one, and on a 2030 delivery that is 48 months of dead capital, the longest carry of any building here. Get the schedule in writing while the terms are still soft.

## Delivery risk

| Construction financing | Not reported. No construction financing has been announced for the site as of August 2026, which is ordinary for a project that opened sales in June. |
|---|---|
| Presold | Not disclosed |
| Delivery | 2030, per the developers and the launch coverage. Sales opened in the first week of June 2026 and no groundbreaking has been announced. |
| Developer | PMG with Lion Development Group, Eden Residential and Sterling Equities, branded with Palm Tree Crew, the festival platform of Kygo and Myles Shear. Architecture and interiors by Kobi Karp. |
| Rental policy | Marketed with short-term-rental flexibility and no HOA lease restriction. Nothing is recorded: the Declaration of Condominium does not exist yet, so this is the developer's sentence, not a rule. |

## Recommendation

BlueBay Brokers · Palm Tree Residences Miami

### Worth a reservation, not yet a commitment

The basis is the argument. New, furnished, no rental restriction, four years out, at roughly what delivered short-term-rental stock in the same blocks closes at today. PMG has delivered repeatedly in this submarket and the launch price is the floor.

Everything legal is still ahead: no Declaration, no construction loan, no presold figure. Reserve early to hold the price and the plan, and make the recorded rental language a condition of the deposit rather than a hope.

## 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

- [38 West Eleventh, Downtown, Delivering Q1 2028](https://bluebaybrokers.com/buildings/38-west-eleventh)
- [HUB Miami Residences, Downtown, Delivering 2027 (marketed)](https://bluebaybrokers.com/buildings/hub-miami)
- [Vista Harbor, Miami River, Delivering 2028 – 2029](https://bluebaybrokers.com/buildings/vista-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)
- [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, PMG and partners launch Palm Tree-branded Miami condos (May 2026)](https://therealdeal.com/miami/2026/05/19/pmg-partners-launch-palm-tree-branded-miami-condos/)
- [Florida YIMBY, Palm Tree Residences Miami announced for Park West](https://floridayimby.com/2026/05/palm-tree-residences-miami-announced-for-downtown-miamis-park-west-district.html)
- [PROFILEmiami, the first-ever Palm Tree Residences Miami](https://profilemiami.com/miamirealestate/2026/5/19/pmg-eden-residential-lion-development-group-sterling-equities-and-palm-tree-crew-announce-the-first-ever-palm-tree-residences-miami-in-downtown-miami)
- [CondoBlackBook, published floor-plan schedule (interior and terrace stated separately)](https://www.condoblackbook.com/downtown-miami/palm-tree-residences-miami)
- [Developer site, palmtreeresidencesmiami.com](https://palmtreeresidencesmiami.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.