# River District 14: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/river-district-14
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-17
> 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

River District 14 is a funded building with a real demand driver: 283 furnished, nightly-rental units a short walk from Jackson Memorial, UHealth and the VA, with a $68M Forman Capital loan closed and over 70 percent presold at that date. The price is the question. The listed units ask about $985 a foot in a postcode whose band closes at $381, so the exit depends on the next nightly-rental buyer, never on the neighbourhood. Buy the income, and only at a negotiated price.

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

Closings per year 65 trailing 12 months, 33125, same band

Years of supply 4.4 this building alone

Band closes at $375/sf median of real closings, not asks

| Band, 33125 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $450K – $700K | 56 | $587,500 | $375 |
| $700K – $1M | 9 | $745,000 | $400 |

**Absorption and timing**

Postcode 33125 closed 60 homes in the building's two bands over the trailing year, and only 9 of them above $700,000. Against 283 units that is 4.7 years of supply, and even the developer's unsold third, roughly 85 units, is well over a year of the entire postcode's demand at these prices. Read that carefully: it does not say the units will not sell, because the buyer of a furnished nightly unit is shopping against Downtown and Brickell rental towers, not against Allapattah walk-ups. It says the resale market for this product does not exist yet west of the river, and that the first owners to sell will be setting it. Delivery has already moved from the first quarter of 2026 to the fourth, and nothing has been reported since.

## The market it lands in

Everything for sale in 33125 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 114 homes listed across 33125

Sold, trailing year 124 recorded closings, every price

Months of supply 11.0 under 6 favours sellers, over 12 favours buyers

Asking vs sold $381/sf asked, against $341/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 33125 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 2 resales this year

Movement since — across recently delivered buildings

This building asks $985/sf entry residences

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

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 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

$852–$985/sf

$490,000 – $780,000 at the May 2024 release · October 2026 developer list: one-bedroom from $774,543, two-bedrooms $834,403 to $1,055,909 with a 7 percent net lease-back, studios sold out · 640 – 1,130 sf

Band closes at $375/sf $450K – $700K, trailing 12 months

Listed here today 5 median $1,025/sf

**You are paying a Downtown nightly-rental price in a $381 postcode**

The listed units ask $943 to $1,025 a foot, against $381 for the band's closings, $342 for everything sold in 33125 this year, and two resales of post-2023 stock in the whole postcode, too few to print. The May 2024 release ran $490,000 to $780,000; the same plans are listed today at $630,000 to $919,000, up roughly 25 percent with no delivery yet. That is the early-buyer bet paying out for the launch cohort, and it is also the whole argument for not paying list now: the remaining inventory is the part a developer with a slipped date and a construction loan to retire needs to move. The furniture package and one parking space are in the price. Negotiate the number itself.

## On the MLS today

5 listings at this address are Active right now, pulled 2026-10-17. 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 |
|---|---|---|---|---|---|---|
| [207](https://bluebaybrokers.com/listing?mls=A11697623) | 1/1 | — | $630,360 | — | $750 | 562 |
| [1501](https://bluebaybrokers.com/listing?mls=A11895823) | 1/1 | 649 sf | $665,000 | $1,025 | — | 232 |
| [312](https://bluebaybrokers.com/listing?mls=A11748079) | 2/2 | — | $810,100 | — | $750 | 472 |
| [915](https://bluebaybrokers.com/listing?mls=A11748046) | 2/2 | — | $845,000 | — | $750 | 472 |
| [1623](https://bluebaybrokers.com/listing?mls=A11748031) | 2/2 | — | $919,227 | — | $750 | 472 |

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 18 photographs carried on MLS listing A11895823 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 $665,000 at 4.5% simple, 6 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (the 20/10/10 instalments, all past their milestone) | 40% | $266,000 | $266,000 | 6 mo | −$5,985 |
| At closing | 60% | $399,000 | $665,000 | 0 mo | −$0 |
| Committed before closing |  |  | $665,000 |  | −$5,985 |

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 $5,985, 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 640 sf.

| HOA at $1.21/sf/month | −$9,293 |
|---|---|
| Property tax at 2.02% of $665,000 | −$13,433 |
| Insurance (HO-6), $3.60/sf | −$2,304 |
| Annual carry, before any income | −$25,030 |

**The lease-back pays the first one or two years**

The developer's October list sells the remaining units with a lease-back: 7 percent net for one year, or two years on seven two-bedrooms, with the developer paying the association and property tax, against 20 percent total deposits. On an $859,000 two-bedroom that is about $60,000 a year in hand while the building builds its nightly record, which answers the question this study raised: nobody has yet shown what the Health District rents at by the night. The lease-back is the developer's contract, not a market rate, so price the unit for year three, when dues of $1.21 a foot and the tax return to you. Get the lease-back agreement and the recorded Declaration before signing.

## Delivery risk

| Construction financing | $68M construction loan from Forman Capital, May 2024, arranged with the project over 70 percent presold or reserved (The Real Deal). |
|---|---|
| Presold | 70% at last disclosure |
| Delivery | First quarter of 2026 per the developer in May 2024. Broker marketing now says fourth quarter of 2026, with the top-off instalment dated March 2026. No completion or certificate of occupancy has been reported as of September 2026, so the date has moved at least three quarters. |
| Developer | Alta Development, Henry Pino (Kendall; formerly of Alta Developers, Quadro and Eon). Bought the 1.3-acre assemblage in May 2022 for $14.6M as an apartment site, switched to condominium in 2023 when rates made rental development unworkable. Behar Font & Partners, Fredrik Eklund of Douglas Elliman on sales. |
| Rental policy | Marketed as short-term-rental friendly: The Real Deal (May 2024) describes it as a short-term-rental condo and the developer's site sells furnished units ready to place on a rental platform; the broker inventory sheet agrees (read 17 September 2026). Recorded Declaration not yet read by this desk. |

## Recommendation

BlueBay Brokers · River District 14

### Buy the income at a negotiated price, not the list

The case for it is concrete: a closed construction loan, 70 percent presold at the last disclosure, furnished turnkey units with parking, an approved EB-5 project, and the largest medical district in Florida as the demand driver, with River Landing and the Metrorail within walking distance. The launch cohort has already seen the list move 25 percent.

The case against paying list is just as concrete: 4.7 years of postcode supply at these prices, an exit that depends on another nightly-rental buyer and a delivery date that has slipped. The way in is the lease-back: 20 percent down and 7 percent net while the building proves its rate. Take the two-year version if you can, and still negotiate the price.

## 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

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- [38 West Eleventh, Downtown, Delivering Q1 2028](https://bluebaybrokers.com/buildings/38-west-eleventh)
- [501 First Residences, Downtown, Delivered 2026](https://bluebaybrokers.com/buildings/501-first)
- [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, Henry Pino's Alta lands $68M construction loan for short-term rental condo near Miami River (May 2024)](https://therealdeal.com/miami/2024/05/01/henry-pinos-alta-nabs-68m-miami-condos-construction-loan/)
- [The Real Deal, Alta reels in multifamily dev site near Miami River for $15M (Jun 2022)](https://therealdeal.com/miami/2022/06/03/alta-reels-in-multifamily-dev-site-near-miami-river-for-15m/)
- [Developer site, riverdistrict14.com](https://www.riverdistrict14.com/)
- [Miami-Dade County Property Appraiser, folios 01-3135-010-0570/0580/0590, read 19 September 2026](https://www.miamidade.gov/Apps/PA/propertysearch/)
- [River District 14, developer lease-back price lists (October 2026)](https://www.riverdistrict14.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-17. 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.