# Vida Residences: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/vida-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

Vida is the rare nightly-rental building in Edgewater that is already built to the roof: nine storeys, 121 furnished residences, a $38.5M Peachtree construction loan closed in September 2024 and the final deck poured in March 2025. Owners may rent short or long term without restriction, per the developer and The Real Deal. The construction risk is mostly spent. What you are buying now is the price, about $1,290 a foot.

## 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 371 trailing 12 months, 33137, same band

Years of supply 0.3 this building alone

Band closes at $592/sf median of real closings, not asks

| Band, 33137 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $400K – $900K | 226 | $612,500 | $592 |
| $900K – $2.5M | 145 | $1,430,000 | $885 |

**Absorption: a light load for Edgewater**

Postcode 33137 closed 223 homes between $400,000 and $900,000 and 146 between $900,000 and $2.5M in the last twelve months. 121 residences is about four months of that flow, one of the lightest delivery loads in this pipeline. The postcode carries 13.5 months of supply, asking $764 a foot against $692 closed, so Edgewater is not short of inventory, but most of it is older conventional stock. A small furnished building with a nightly-rental right competes in a much thinner pool than those totals suggest.

## The market it lands in

Everything for sale in 33137 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 534 homes listed across 33137

Sold, trailing year 477 recorded closings, every price

Months of supply 13.4 under 6 favours sellers, over 12 favours buyers

Asking vs sold $764/sf asked, against $691/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 33137 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $993/sf median of 46 closings this year

Movement since -2.4% across recently delivered buildings

This building asks $1,292/sf entry residences

Entry vs new stock +30% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2023 | 5 | $1,017 |
| 2024 | 21 | $1,044 |
| 2025 | 22 | $1,014 |
| 2026 | 46 | $993 |

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

$1,292/sf

From the low $500,000s (developer) to $2.3M (Commercial Observer, 2024) · 387 – 1,780 sf · furnished studios to four-bedrooms

Band closes at $592/sf $400K – $900K, trailing 12 months

Listed here today 0 nothing on the MLS

**Launch basis against new Edgewater resales**

The developer prices from the low $500,000s on the smallest plans, and Commercial Observer reported one-bedrooms from $603,432 up to $2.3M on the largest. Across the 387 to 1,780 sf range that is about $1,290 a foot at both ends. Edgewater stock built since 2023 resold 46 times this year at a median $993 a foot, and the $900,000 to $2.5M band closes at $879. So Vida asks roughly 30 percent over delivered new product. That premium buys the rental right and the furniture: underwrite it against rental income, not against a resale.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 410 NE 35th Ter, Miami FL 33137, 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, 6 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $50,000 | $50,000 | 6 mo | −$1,125 |
| Groundbreaking milestone, already passed | 10% | $50,000 | $100,000 | 6 mo | −$1,125 |
| Top-off milestone, already passed (March 2025) | 10% | $50,000 | $150,000 | 6 mo | −$1,125 |
| At closing | 70% | $350,000 | $500,000 | 0 mo | −$0 |
| Committed before closing |  |  | $500,000 |  | −$3,375 |

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 $3,375, 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 387 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $500,000 | −$10,100 |
| Insurance (HO-6), $3.60/sf | −$1,393 |
| Annual carry, before any income | −$11,493 |

**What to secure before you sign**

Three ordinary requests. The deposit schedule first: Urbana has not published one, so the table assumes the Miami standard 10/10/10/70, and with the structure topped out the first three milestones have passed, so expect up to 30 percent at signing and the balance at closing about six months out. Second, the rental language as recorded: nightly rental without restriction is a developer statement until the declaration says it. Third, the association budget and any rental-programme fee, which decide net income more than the nightly rate does.

## Delivery risk

| Construction financing | Closed. $38.5M, 30-month floating-rate first mortgage from Peachtree Group, September 2024 (Commercial Observer). |
|---|---|
| Presold | Not disclosed |
| Delivery | 2026, per Florida YIMBY when the final deck was poured in March 2025. No certificate of occupancy has been reported; the model holds six months. |
| Developer | Urbana Holdings of Atlanta, led by Allan Gutierrez, building through its Miami division Urbana Bueno. Kobi Karp architecture. Urbana bought the 0.7-acre site for $14M in 2023. |
| Rental policy | Marketed as rentable short and long term without restriction (The Real Deal, June 2023; developer site), not yet in a recorded declaration |

## Recommendation

BlueBay Brokers · Vida Residences

### Buy for the income, negotiate the premium

A financed, topped-out, 121-unit furnished building in Edgewater with an unrestricted rental claim: delivery risk is low and the supply load is light. That makes Vida one of the cleaner nightly-rental entries in the pipeline.

The price is the question. At about $1,290 a foot it asks 30 percent over new Edgewater resales. Buy the smaller plans for income, get the recorded declaration and the budget, and press on price while the developer still has units to sell.

## 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

- [Cove Miami, Edgewater, Delivering 2028](https://bluebaybrokers.com/buildings/cove-residences)
- [ELLE Residences Miami, Edgewater, Delivering 2029](https://bluebaybrokers.com/buildings/elle-residences)
- [Villa Miami, Edgewater, Delivering 2027](https://bluebaybrokers.com/buildings/villa-miami)
- [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, Urbana plans 121-unit condo project in Miami's Edgewater (Jun 2023)](https://therealdeal.com/miami/2023/06/07/urbana-plans-121-unit-condo-project-in-miamis-edgewater/)
- [Commercial Observer, Peachtree Group lends $39M on Miami condo development (Sep 2024)](https://commercialobserver.com/?p=495046)
- [Florida YIMBY, nine-storey residential tower progresses at 410 NE 35th Terrace (Mar 2025)](https://floridayimby.com/2025/03/nine-story-residential-tower-progresses-at-410-ne-35th-terrace-miami-fl-33137.html)
- [Developer site, vidaedgewater.com](https://www.vidaedgewater.com/)
- [Miami-Dade Property Appraiser, site parcel 01-3230-005-0030, read 3 October 2026](https://www.miamidade.gov/Apps/PA/propertysearch/)

**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.