# Rivage Bal Harbour: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/rivage-bal-harbour
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-01
> 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

Rivage is the only new oceanfront condominium in Bal Harbour, and its 56 residences are about one year of what the beach closes above $10M. Entry asks about $3,030 a foot against $2,607 for homes closed at $10M to $20M in Bal Harbour, Surfside and Sunny Isles this year, a 16 percent premium for a 2027 delivery on 200 feet of sand. Supply is the case: the band absorbs a building this size in about a year.

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

Closings per year 52 trailing 12 months, 33154, 33160, same band

Years of supply 1.1 this building alone

Band closes at $2,607/sf median of real closings, not asks

| Band, 33154, 33160 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $10M – $20M | 34 | $12,875,000 | $2,607 |
| $20M and above | 18 | $28,784,750 | $4,420 |

**Small building, deep band**

Bal Harbour, Bay Harbor, Surfside (33154) and Sunny Isles (33160) closed 52 homes above $10M in the trailing year: 34 between $10M and $20M at a median $2,607 a foot, and 18 above $20M at $4,420. At 56 residences Rivage is about 1.1 years of that. That is a light load: the band absorbs a building this size in about a year. The developers reported more than $100M of presales in the two months before the loan closed (November 2024) and $70M more in autumn 2025, but no percentage sold has been published. Ask for the number of units left: that is what decides whether the remaining stock is the developer's to discount or yours to wait for.

## The market it lands in

Everything for sale in 33154, 33160 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 2016 homes listed across 33154, 33160

Sold, trailing year 1436 recorded closings, every price

Months of supply 16.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $578/sf asked, against $521/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 33154, 33160 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,330/sf median of 28 closings this year

Movement since -41.5% across recently delivered buildings

This building asks $3,030/sf entry residences

Entry vs new stock +128% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 5 | $2,272 |
| 2025 | 12 | $1,706 |
| 2026 | 28 | $1,330 |

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

$3,030–$5,769/sf

From $10M (remaining units, November 2024) to $75M for the penthouse · 3,300 – about 13,000 sf · about $4,000 a foot on average at launch · a three-storey 35,000 sf penthouse later listed at $150M

Band closes at $2,607/sf $10M – $20M, trailing 12 months

Listed here today 0 nothing on the MLS

**A premium to the band, not to the beach**

The smallest plans, about 3,300 sf from $10M, work out near $3,030 a foot. Homes in the $10M to $20M band closed at a median $2,607 on recorded MLS sales over the trailing year, so the entry stack carries about a 16 percent premium for being new and oceanfront. The launch average was about $4,000 a foot (Related, January 2023), roughly the $4,420 the band above $20M closes at, which is where the larger plans sit. Condominiums delivered since 2023 in these postcodes resell at $1,330 a foot this year, but that mixes Sunny Isles stock at every price and is not this buyer's comparable.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 10245 Collins Ave, Bal Harbour FL 33154, pulled 2026-11-01. 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 $10,000,000 at 4.5% simple, 13 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $1,000,000 | $1,000,000 | 13 mo | −$48,750 |
| At groundbreaking (passed September 2024, due at signing) | 10% | $1,000,000 | $2,000,000 | 13 mo | −$48,750 |
| At top-off | 10% | $1,000,000 | $3,000,000 | 9 mo | −$33,750 |
| At closing | 70% | $7,000,000 | $10,000,000 | 0 mo | −$0 |
| Committed before closing |  |  | $10,000,000 |  | −$131,250 |

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 $131,250, 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 3,300 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $10,000,000 | −$202,000 |
| Insurance (HO-6), $3.60/sf | −$11,880 |
| Annual carry, before any income | −$213,880 |

**About $131,250 to carry, and two things to ask**

The developers have not published a deposit schedule, so the table uses the Miami standard of 10/10/10/70, assumed. Construction began in September 2024, so a buyer signing today would likely put 20 percent down at once and hold it about 13 months to the 2027 delivery: on a $10M residence that is about $131,250 at 4.5 percent. Ask for two things in writing: the actual schedule, since a building this far along may ask for more at signing, and the rental language in the declaration, which is not published. At this price that is a residence question, not a yield question.

## Delivery risk

| Construction financing | $424M closed November 2024 from Adi Chugh's Tyko Capital (The Real Deal). Construction had begun that September. |
|---|---|
| Presold | Not disclosed |
| Delivery | 2027, per the developers. Construction began in September 2024 after Carlton Terrace was demolished. |
| Developer | Related Group (the Pérez family), Two Roads Development and Rockpoint. Assembled the site through a roughly $130M bulk buyout of the 88-unit Carlton Terrace in 2021. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · Rivage Bal Harbour

### Buy the entry plans, close to delivery

A clean supply picture: 56 residences into a band that closed 52 sales last year, a $424M loan closed in 2024, construction running since September 2024 and about 13 months of deposit carry left. Delivery risk is low.

The entry plans at about $3,030 a foot are the line to own, 16 percent over what the $10M to $20M band closes at and well under the launch average. Get the count of units left and the deposit schedule in writing before signing.

## 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

- [La Baia North, Bay Harbor Islands, Q1 2027](https://bluebaybrokers.com/buildings/la-baia-north)
- [The Well Bay Harbor Islands, Bay Harbor Islands, Delivered 2026](https://bluebaybrokers.com/buildings/well-bay-harbor)
- [Origin Bay Harbor, Bay Harbor Islands, Delivering end 2026](https://bluebaybrokers.com/buildings/origin-bay-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, Related and partners score $424M construction loan for Rivage (Nov 2024)](https://therealdeal.com/miami/2024/11/21/related-partners-score-424m-loan-for-bal-harbour-condos/)
- [The Real Deal, Related and Two Roads launch sales of Rivage (Jan 2023)](https://therealdeal.com/miami/2023/01/18/related-partners-launch-sales-of-bal-harbour-condos-with-ph-asking-over-65m/)
- [The Real Deal, Nick Pérez on the condo market, $70M presold at Rivage in autumn 2025 (Jan 2026)](https://therealdeal.com/magazine/january-2026/nick-perez-cuts-through-the-condo-noise/)
- [The Real Deal, Leaders of real estate wealth, the $150M Rivage penthouse (Oct 2026)](https://therealdeal.com/magazine/october-2026/product-of-their-own-success/)
- [Developer site, rivagebalharbour.com](https://rivagebalharbour.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-01. 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.