# Ponce Park Coral Gables: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/ponce-park-coral-gables
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-19
> 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

Ponce Park is a 58-residence, 11-storey Coral Gables building with its $132.5M construction loan closed and about 40 percent under contract, and the number that decides it is $1,482 a foot: the entry residence's ask, against $1,034 at which Coral Gables homes in the same $2.5M to $4M band closed this year. Almost all of those were houses. That is the bet: a new lock-and-leave on Ponce, where the alternative at this price is a house.

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

Closings per year 62 trailing 12 months, 33134, same band

Years of supply 0.9 this building alone

Band closes at $1,034/sf median of real closings, not asks

| Band, 33134 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $2.5M – $4M | 49 | $2,980,000 | $1,034 |
| $4M – $6M | 13 | $5,000,000 | $1,081 |

**Less than a year of the band's buyers**

58 residences against 62 closings a year in these two 33134 bands is under a year of the postcode's demand, and about 40 percent were under contract at financing (Commercial Observer, January 2026), so roughly 35 remain. Supply is not the risk. What matters is who those 62 buyers were: 52 bought single-family houses, 5 townhouses, and only 5 a condominium, all under $4M. Ponce Park sells the Gables buyer what the postcode barely offers, a new building instead of a yard. Residence 404, listed since September 2025 at $5,363,000, is now pending.

## The market it lands in

Everything for sale in 33134 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 178 homes listed across 33134

Sold, trailing year 428 recorded closings, every price

Months of supply 5.0 under 6 favours sellers, over 12 favours buyers

Asking vs sold $692/sf asked, against $640/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 33134 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 1 resale this year

Movement since — across recently delivered buildings

This building asks $1,482/sf entry residences

Entry vs new stock — below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 1 | withheld, 1 sale |
| 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

$1,482–$1,918/sf

From $2.9M (Florida YIMBY, January 2026) · four residences listed today at $2,900,000 to $5,400,000 · 1,957 – 3,487 sf on the MLS; plans run from 1,900 to more than 6,500 sf

Band closes at $1,034/sf $2.5M – $4M, trailing 12 months

Listed here today 4 median $1,532/sf

**What the foot buys here**

The four residences listed today ask $1,463 to $1,918 a foot, about $1,530 at the median, all through ONE Sotheby's. Coral Gables homes in the $2.5M to $4M band closed at a median $1,034 in the trailing year, the $4M to $6M band at $1,081, and the five condominiums above $2.5M at about $1,085. So the ask runs 35 to 85 percent over what the postcode pays per foot, about 50 percent at the median. Two qualifiers. A house foot comes with land and an older roof; this one with neither. And MLS areas on new construction usually include the terrace, so ask for the plan sheet's interior figure.

## On the MLS today

4 listings at this address are Active right now, pulled 2026-10-19. 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 |
|---|---|---|---|---|---|---|
| [602](https://bluebaybrokers.com/listing?mls=A12086344) | 2/3 | 1,957 sf | $2,900,000 | $1,482 | $4,057 | 12 |
| [606](https://bluebaybrokers.com/listing?mls=A12086385) | 3/4 | 2,954 sf | $4,675,000 | $1,583 | $6,139 | 12 |
| [701](https://bluebaybrokers.com/listing?mls=A12086619) | 3/4 | 3,487 sf | $5,100,000 | $1,463 | $6,925 | 12 |
| [504](https://bluebaybrokers.com/listing?mls=A12086604) | 3/4 | 2,815 sf | $5,400,000 | $1,918 | $5,937 | 19 |

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 A12086344 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 $2,900,000 at 4.5% simple, 16 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $290,000 | $290,000 | 16 mo | −$17,400 |
| Second deposit (assumed standard) | 10% | $290,000 | $580,000 | 12 mo | −$13,050 |
| Third deposit (assumed standard) | 10% | $290,000 | $870,000 | 8 mo | −$8,700 |
| At closing | 70% | $2,030,000 | $2,900,000 | 0 mo | −$0 |
| Committed before closing |  |  | $2,900,000 |  | −$39,150 |

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 $39,150, 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 1,957 sf.

| HOA at $2.07/sf/month | −$48,612 |
|---|---|
| Property tax at 2.02% of $2,900,000 | −$58,580 |
| Insurance (HO-6), $3.60/sf | −$7,045 |
| Annual carry, before any income | −$114,237 |

**What the deposit costs, and what to get in writing**

Delivery is early 2028, about 16 months out. The developer has not published a deposit schedule, so the table assumes the Miami standard 10/10/10/70: on the $2.9M entry residence that is $870,000 committed before closing, earning nothing. Get two things in writing. The deposit schedule itself, since the carry above is modelled, not quoted. And the rental language of the declaration: the rental policy is not published, and that is the question to settle before signing, not after.

## Delivery risk

| Construction financing | $132.5M construction loan from Bank OZK, arranged by Lotus Capital Partners (Commercial Observer, January 2026). Construction began in December 2025. |
|---|---|
| Presold | 40% at last disclosure |
| Delivery | Early 2028 (Commercial Observer, January 2026). The MLS listings carry 2027 as year built; the financing release is the date used here. |
| Developer | Allen Morris Co. Architecture by John Cunningham, interiors by Meyer Davis. Sales by ONE Sotheby's International Realty, which lists every residence on the MLS. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · Ponce Park Coral Gables

### A residence, bought early

Financed, under construction and about 40 percent sold: Bank OZK closed $132.5M of construction debt, work began in December 2025 and delivery is early 2028. 58 residences of 1,900 to more than 6,500 sf on Ponce, in a postcode where a buyer at this price almost always buys a house.

The ask runs well above what Gables homes close at per foot, and the rental policy is unpublished. Buy it to live in or hold, start from the $2.9M entry plan, negotiate from the band, and read the declaration before the second 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.

#### 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.

## Read next

- [CORA Merrick Park, Coral Gables, 2028](https://bluebaybrokers.com/buildings/cora-merrick-park)
- [Cassia, The Residences at Coral Gables, Coral Gables, Q1 2027](https://bluebaybrokers.com/buildings/cassia-coral-gables)
- [2200 Brickell, Brickell, 2026](https://bluebaybrokers.com/buildings/2200-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

- [Commercial Observer, Bank OZK provides $133M construction loan for Allen Morris' Coral Gables condo (January 2026)](https://commercialobserver.com/2026/01/bank-ozk-coral-gables-florida-ponce-park-ozk-resi/)
- [Florida YIMBY, Allen Morris Co. secures $132.5 million construction loan from Bank OZK for Ponce Park (January 2026)](https://floridayimby.com/2026/01/allen-morris-co-secures-132-5-million-construction-loan-from-bank-ozk-for-ponce-park-in-coral-gables.html)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-19. 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.