# Palma Miami Beach Residences: prices and deposits

> Source: https://bluebaybrokers.com/buildings/palma-miami-beach
> 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

Palma is Lefferts doing it again, a block from 72 Park, its first North Beach tower, which delivered in 2025 rental-friendly and 90 percent sold. 121 furnished residences, no rental restrictions per the sales broker, 75 percent sold, piles in the ground since June 2026. Entry starts near $650,000, under 72 Park's $700,000 launch. The bet is the last quarter of the stack before the frame rises and the list moves.

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

Closings per year 181 trailing 12 months, 33141, same band

Years of supply 0.7 this building alone

Band closes at $501/sf median of real closings, not asks

| Band, 33141 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500K – $900K | 100 | $660,000 | $501 |
| $900K – $2M | 81 | $1,200,000 | $741 |

**Absorption and timing**

33141 closed 102 homes at $500K to $900K and 80 at $900K to $2M in the last twelve months. 121 units is about eight months of that flow, and three quarters are already sold. The postcode sits at 12.9 months of supply, asking $511 a foot against $440 paid, but that is older stock. The supply that matters lands on the same blocks around the same time: 222 units at 7200 Collins in 2027, and 72 Park's 17 listings today.

## 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 560 homes listed across 33141

Sold, trailing year 520 recorded closings, every price

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

Asking vs sold $514/sf asked, against $441/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 $1,605/sf entry residences

Entry vs new stock -13% below zero means you buy new under resale

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

$1,118–$1,605/sf

75% sold (The Real Deal, Aug 2026) · from about $650,000 (developer, 2024) · broker pages publish tops of $1.5M to $2M · 405 – 1,342 sf · nothing listed on the MLS today

Band closes at $501/sf $500K – $900K, trailing 12 months

Listed here today 0 nothing on the MLS

**Priced against Lefferts' own 72 Park**

From $650,000 on 405 sf is about $1,605 a foot; the top of the published range, about $1.5M on 1,342 sf, is near $1,118. 72 Park, same developer, a block away, is the fair benchmark: its two MLS resales closed at $1,317 and $1,330 a foot, while its 17 listings ask a median $1,845 and Ella's three ask $1,368 to $1,851. The smallest plans carry a premium to what has actually resold; the larger plans sit below it.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 600 71st St, Miami Beach FL 33141, 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 $650,000 at 4.5% simple, 15 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $65,000 | $65,000 | 15 mo | −$3,656 |
| 90 days after contract | 10% | $65,000 | $130,000 | 12 mo | −$2,925 |
| At top-off | 10% | $65,000 | $195,000 | 6 mo | −$1,462 |
| At closing (late 2027) | 70% | $455,000 | $650,000 | 0 mo | −$0 |
| Committed before closing |  |  | $650,000 |  | −$8,044 |

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 $8,044, 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 405 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $650,000 | −$13,130 |
| Insurance (HO-6), $3.60/sf | −$1,458 |
| Annual carry, before any income | −$14,588 |

**What to secure before you sign**

No deposit schedule is published, and one broker page cites 50 percent, unconfirmed. We assume the Miami standard 10/10/10/70, so about $195,000 on the $650,000 entry unit sits idle up to fifteen months. No construction loan has been reported: ask who funds the build. Ask for the association budget and the rental language in the draft declaration, because no restrictions is a sales claim until it is recorded.

## Delivery risk

| Construction financing | Not reported. No lender or amount has been published for Palma. Russell Galbut, an investor in Lefferts' North Beach projects, helped secure the $97.5M loan on 72 Park in 2022 (The Real Deal). Ask the developer before signing. |
|---|---|
| Presold | 75% at last disclosure |
| Delivery | Late 2027 per the developer and Cervera. Ground broke December 2025 and pile work was under way in June 2026; a 14-storey frame from there makes late 2027 to early 2028 the realistic reading. The model holds fifteen months. |
| Developer | Lefferts, founded by Mendy Chudaitov, which delivered 72 Park on 72nd Street in 2025 and is building 72 Carlyle next door; Russell Galbut invests alongside. Built Form architects, Studio Ramirez interiors, KAST Construction general contractor, Cervera sales. |
| Rental policy | Marketed with no rental restrictions by Cervera, the sales broker, and as rental-friendly by The Real Deal (August 2026); the declaration is not recorded yet, so this is a sales claim and not an instrument |

## Recommendation

BlueBay Brokers · Palma Miami Beach Residences

### Buy the larger plans, negotiate the small ones

A second building from the developer that delivered 72 Park: furnished, rental-friendly, 75 percent sold and in the ground. The open items are the unreported construction loan and the real deposit schedule.

Buy the larger plans, priced under 72 Park's resale line. On the smallest units, offer toward the $1,300 to $1,350 a foot where 72 Park actually resells, not the launch list.

## 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

- [7200 Collins, North Beach, Delivering 2027](https://bluebaybrokers.com/buildings/7200-collins)
- [Ella Miami Beach, North Beach, Delivering 2027](https://bluebaybrokers.com/buildings/ella-miami-beach)
- [NoBe PARC, North Beach, Delivering late 2028](https://bluebaybrokers.com/buildings/nobe-parc)
- [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, Map: developers betting on North Beach (Aug 2026, 121 units, 75% sold)](https://therealdeal.com/miami/2026/08/18/map-residential-development-booming-in-miamis-north-beach/)
- [The Real Deal, Lefferts starts closings at 72 Park (Mar 2025)](https://therealdeal.com/miami/2025/03/10/lefferts-starts-closings-for-first-north-beach-condo-project/)
- [Florida YIMBY, ground breaks on PALMA Miami Beach Residences (Dec 2025)](https://floridayimby.com/2025/12/ground-breaks-on-14-story-palma-miami-beach-residences-at-600-71st-street-in-north-beach.html)
- [Florida YIMBY, foundation work underway (Jun 2026)](https://floridayimby.com/2026/06/foundation-work-underway-for-palma-miami-beach-at-600-71st-street-in-north-beach.html)
- [Florida YIMBY, Palma set for 71st St (Apr 2024, sizes and launch price)](https://floridayimby.com/2024/04/palma-miami-beach-residences-set-for-666-71st-st-miami-beach-fl.html)
- [Cervera Real Estate, Palma Miami Beach (read 2 October 2026)](https://cervera.com/condo/palma-miami-beach/)

**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.