Miami Luxury Condos: The Complete 2026 Guide
Miami luxury condos don't have a single definition. The word "luxury" covers a $900K Edgewater two-bedroom and a $35M Sunny Isles penthouse. Buyers who start without understanding that distinction spend months touring the wrong buildings.
Miami's luxury condo market closed Q1 2026 with 424 sales, a median price of $1,841,000, and $1,040 per square foot. Inventory sits at 19 months, which favors buyers. Entry luxury starts near $700K in Downtown Miami and runs to $35M for oceanfront penthouses in Sunny Isles. Where your budget lands decides your neighborhood, your building, and your monthly cost.
This guide gives you price thresholds by neighborhood, the buildings setting the pace in each submarket, a real carrying cost breakdown, and a clear sequence from search to contract. Everything here comes from
direct advisory work with buyers across Miami-Dade.
Written by Salome Penailillo, Broker/Owner of Real Estate Sales International Inc., a boutique bilingual brokerage at 2031 Harrison St, Hollywood, FL 33020, serving Miami-Dade and Broward. Florida Real Estate License 3275437.
Key takeaways
Luxury is not one market. A $900K Edgewater two-bedroom and a $6M Brickell Key penthouse share almost nothing.
Q1 2026 price per square foot: Brickell $950, Edgewater $978, Downtown Miami $730, Miami Beach and the barrier islands $1,178.
Monthly cost matters more than price. HOA plus taxes runs $2,450 to $4,500 on a mid-tier unit, and $5,333 to $12,333 in a branded residence.
Check the building's finances before the finishes. Florida's SB-4D rules can turn a cheap older unit into a special assessment problem.
19 months of inventory means room to negotiate on resale and incentives on new construction.
What qualifies as Miami luxury condos
The 2026 price thresholds by neighborhood
Neighborhood | Entry luxury | Typical range | Q1 2026 $/sq ft |
Downtown Miami | $700K | $700K to $1.4M | $730 |
Edgewater | $900K | $900K to $1.6M | $978 |
Brickell | $1.1M | $1.1M to $1.6M (2BR) | $950 |
Miami Beach / barrier islands | $2M | $2M to $5.5M+ | $1,178 |
Sunny Isles Beach | $1.2M | $1.2M to $2.2M resale, $3M+ oceanfront | Varies by floor |
Bay Harbor Islands | $900K | $900K to $2M | Value corridor |
Miami Beach operates on a different scale. The Miami REALTORS luxury threshold there sits at $5.5M, with South of Fifth running a median closer to $2.2M. Sunny Isles carries a $1.35M median in the broader luxury segment, but the oceanfront pipeline resets pricing fast as floor and view improve.
A $900K unit in Edgewater and a $900K unit in South Beach are not the same product at the same price. One sits in a growth corridor with newer inventory and a younger buyer profile. The other competes against $2M-plus listings for the same buyer.
Price tells you where you are in the range. Neighborhood tells you what you are buying.
Why building health matters as much as price
The post-Surfside regulatory environment created a filter that price alone can't capture. Older buildings now carry milestone inspection requirements and mandatory reserve funding under Florida's 2022 SB-4D legislation.
A 1990s building with a deferred reserve study, open structural inspection items, or a history of special assessments can look priced like luxury while carrying real financial risk.
Review three documents before you tour:
Milestone inspection status
The most recent reserve study, and whether the association is funding it
Special assessment history for the last five years
Buildings that can't satisfy that review don't belong in your shortlist regardless of the listing price.
Top neighborhoods for Miami luxury condos
Brickell, Downtown, and Edgewater
Brickell is Miami's financial core and carries the widest range of any submarket, from resale luxury at $800 to $1,300 per square foot to branded new development well above that. It closed Q1 2026 with 57 luxury sales, the most in Greater Downtown, at a $1,675,000 median and a record $950 per square foot.
Active buildings to know: Brickell Flatiron with recent four-bedroom closings from $2.32M to $11.2M, Baccarat Residences, 2200 Brickell, Viceroy Residences, and Mandarin Oriental Residences on Brickell Key, where two penthouse contracts priced near $6,300 per square foot set a 2026 ceiling for the submarket.
Downtown is the most affordable luxury entry point at around $730 per square foot, with a $1,350,000 median and 88 days on market. Waldorf Astoria Residences anchors the premium tier at $1,000 to $1,800+ per square foot by floor.
Edgewater is the 2026 story for buyers who want new product without Brickell pricing. Sales rose 120% year over year, the median hit $1,612,500, and at $978 per square foot it now prices above Brickell.
Aria Reserve North Tower delivered in Q1 2026. Villa Miami is the active development at the leading edge of the neighborhood's transformation. One closed comp from One Paraiso at $1.5M for a three-bedroom at 1,526 square feet gives a useful resale anchor.
Miami Beach and Sunny Isles Beach
Miami Beach is the most internally segmented submarket. It closed 231 luxury sales in Q1 2026, up 5%, at $1,178 per square foot. South of Fifth carries a roughly $2.2M median while oceanfront trophy towers trade well above $5M.
The Shore Club Private Residences is the 2026 delivery to watch on the Beach.
The Miami Beach luxury market rewards specificity. Building, floor, view orientation, and proximity to the water move price more here than in any other submarket.
Sunny Isles runs a different profile, with a deep oceanfront pipeline and a broader luxury median around $1.35M that rises fast by building and view. Bentley Residences represents the ultra-luxury ceiling at $5.5M to $35M, a range driven almost entirely by floor selection.
If you're buying in Sunny Isles, view and floor aren't preferences. They're the transaction.
Coconut Grove and emerging submarkets
Coconut Grove skews toward single-family and boutique development rather than high-rise, which makes condo data thinner. OPUS is the name to know for buyers who want the Grove's lower density and established character in a condo format.
Bay Harbor Islands is worth tracking as a value corridor. 9900 West, La Baia North, and La Mare are active developments attracting buyers priced out of Miami Beach who want new product at lower entry points. Same barrier island access, lower carrying costs.
Amenities you should expect at each tier
Standard amenities in a full-service luxury high-rise
A full-service tower in 2026 delivers concierge, valet, resort-style pool deck, fitness center, co-working or business lounge, package management, and at least one food and beverage outlet as a baseline.
Mid-tier luxury buildings in the $700K to $1.3M range in Brickell or Downtown often have most of these at reduced scale.
The real differentiator isn't the amenity checklist. It's the square footage dedicated to amenity space and the staffing operating it. A gym listed on a floor plan and a gym staffed with trainers are not the same product.
What branded residences add, and what they cost you
Hotel-branded residences including Waldorf Astoria, Mandarin Oriental, Baccarat, and Bentley layer in in-residence dining, spa access, hotel-style housekeeping, and a concierge that functions like a five-star front desk.
The tradeoff is HOA fees of $3.50 to $6.00+ per square foot monthly. On a 2,000 square foot unit that is $7,000 to $12,000 per month before property tax.
If you plan to rent the unit, weigh that carrying cost against yield. High HOA fees compress net returns even when gross rents are strong.
What it actually costs to own in 2026
Purchase price is the starting point, not the full picture. Here is the neighborhood-level summary from current market data:
Downtown and Edgewater entry luxury: $700K to $1.4M
Brickell mid-luxury: $1.1M to $1.6M for a two-bedroom, with four-bedroom comps at Brickell Flatiron from $2.32M to $11.2M
Miami Beach true luxury: $2M to $5.5M+
Sunny Isles resale luxury: $1.2M to $2.2M+
Sunny Isles ultra-luxury oceanfront: starts at $3M
Monthly carrying costs tell the rest of the story.
Tier | HOA / month | Taxes / month | Total monthly |
Mid-tier luxury ($750K to $1.5M) | $1,200 to $2,000 | $1,250 to $2,500 | $2,450 to $4,500 |
Full-service luxury tower | $1,800 to $3,500 | $1,067 to $2,333 | $2,867 to $5,833+ |
Branded / ultra-luxury | $3,500 to $9,000+ | $1,833 to $3,333 | $5,333 to $12,333+ |
Figures exclude mortgage, insurance, and special assessments.
Property taxes in Miami-Dade run about 2% of assessed value annually for non-homestead properties. A $1.5M condo carries roughly $2,500 per month in taxes before exemptions.
Special assessments in older buildings can reset the math entirely. That risk is why the building health review above isn't optional.
New construction vs. resale: the 2026 pipeline
We track more than 100 South Florida new developments with direct developer access, including price lists, floor plans, and broker incentives. Here is what buyers ask about most, by area.
Brickell and Brickell Key
Project | Price range | Delivery |
Cipriani Residences Miami | $1.7M to $33.8M | 2028 |
The Residences at Mandarin Oriental, Miami (Brickell Key) | $5M to $17.5M | Late 2028 to Q1 2029 |
The Residences at 1428 Brickell | $3M to $7M, penthouse near $60M | 2028 |
619 by Nobu and Foster + Partners | $2.4M to $60M | 2030 |
The St. Regis Residences, Miami | From $4M | Q4 2027 |
Mercedes-Benz Places | $800K to $2.7M+ | 2027 |
ORA by Casa Tua | $950K to $3M+ | 2027 |
Lofty Brickell | $2.4M to $3.5M | 2027 |
The Standard Residences Brickell | $640K to $1.17M | 2027 |
2200 Brickell | Ask | Delivering 2026 |
Also active: Viceroy Brickell, Dolce & Gabbana Residences, One Twenty Brickell, and House of Wellness Brickell from $390K.
Downtown Miami and the Miami River
Project | Price range | Delivery |
Faena Miami Residences | From $1.3M | 2029 |
Waldorf Astoria Residences | $3.3M to $10M+ | 2028 |
Okan Tower | From $1M+ | 2027 |
JEM Private Residences | Ask | Q1 2027 |
Delano Residences | From the $800Ks | 2031 |
Palm Tree Residences Miami | From $500K | 2029 |
14 Roc | From $552K | October 2027 |
Faena set the tone for the whole river corridor. Its Upper Penthouse sold for $30M before groundbreaking, the largest residential sale ever recorded on the Miami River.
Casa Bella Residences and Flow House Miami have already delivered.
Edgewater
Project | Price range | Delivery |
Villa Miami | $4.8M to $8.5M+ | Q1 2027 |
Cove Miami | From $795K | 2027 |
Elle Residences Miami | From the $500Ks | Q1 2027 |
Edge House Miami | $495K to $1.6M | H1 2028 |
Aria Reserve is delivering now and is a large part of why Edgewater pricing moved this year.
Midtown, Design District, and Wynwood
Project | Price range | Delivery |
Jean-Georges Miami Tropic Residences | 1BR from $914K, 4BR from $4.1M | 2029 |
Midtown Park Residences by Proper | From $700K+ | 2028 |
Kempinski Residences Design District | Ask | Q4 2029 |
The Cloud One Hotel & Residences Wynwood | From the high $500Ks | 2028 |
The Rider at Wynwood | From $648K+ | 2027 |
Frida Kahlo Wynwood Residences | $510K to $1.55M | 2029 |
Miami Beach, North Beach, and Surfside
Project | Price range | Delivery |
Shore Club Private Residences | $6M to $40M | Ask |
Ocean Terrace | $6.3M to $17M | 2029 |
Aman Miami Beach | Ask | 2027 |
72 Carlyle | From $1.8M | Q4 2028 |
Surf Row Residences (Surfside) | From $1.4M | 2027 |
Palma Miami Beach | From the $650Ks | Late 2027 |
Ella Residences | $600K to $2M | April 2027 |
NoBe PARC | From $570K | Q4 2028 |
Sunny Isles Beach and Aventura
Project | Price range | Delivery |
The St. Regis Residences, Sunny Isles Beach | 2BR+den from $5.1M, 3BR from $9.4M | Ask |
Bentley Residences | From $5.8M | Q1 2027 |
Avenia Fendi Aventura | From $5M+ | 2027 |
St. Regis North Tower pricing runs roughly $2,700 to $3,135 per square foot as of June 2026.
Coconut Grove, Coral Gables, and Bay Harbor Islands
Project | Price range | Delivery |
Four Seasons Private Residences Coconut Grove | Ask | Mid 2028 |
The Well Coconut Grove | From $1.5M | 2028 |
Ponce Park Coral Gables | From $2.9M+ | Early 2028 |
Alhambra Parc Coral Gables | From $1.25M | 2027 |
Cora Merrick Park | From $900K+ | Q1 2028 |
Cassia Coral Gables | From the $850Ks | Q1 2027 |
Origin by Artefacto (Bay Harbor) | $3.8M to $4.5M | Late 2026 |
La Mare Bay Harbor Islands | Ask | 2026 |
Broward and North Bay Village
Project | Price range | Delivery |
Pagani Residences (North Bay Village) | $3.9M to $30M | 2028 |
Continuum Club & Residences (North Bay Village) | From just under $1M | Early 2028 |
Icon Beach (Hollywood Beach) | From $900K | Fall 2027 |
Hollywood Moon Residences | From $1.1M | Q4 2027 |
One Hollywood Residences | Ask | 2027 |
Gaia Residences (Hollywood) | $480K to $1.2M | End 2028 |
Shell Bay Residences (Hallandale) | Ask | 2027 |
Salato (Pompano Beach) | $2M to $5.3M | Early 2026 |
Sixth&Rio (Fort Lauderdale) | $900K to $3M+ | 2026 |
Prices and delivery dates change. Ask us for the current price list on any project above.
How preconstruction deposits work
Preconstruction luxury condos in Miami come with a specific financial structure. Deposits usually total 20% to 50% of the purchase price, paid in stages:
At contract signing
At groundbreaking
At topping off
Before closing
The balance is due at completion. The timeline is longer and the unit is not visible before purchase. In exchange, pricing reflects first-mover positioning on fresh inventory with clean reserve studies and full structural compliance from day one.
When resale makes more sense
Resale offers immediate occupancy, a visible unit condition, negotiable pricing in a market where some sellers are motivated, and a clear picture of HOA financial health through existing meeting minutes and reserve studies.
The Brickell Flatiron closed comps and the One Paraiso three-bedroom at $1.5M for 1,526 square feet are real examples of what resale pricing looks like right now.
A buyer working with an advisor who covers both channels evaluates new construction and resale at the same time, rather than being steered toward one by a developer's agent or a listing-focused broker.
How to move from search to contract without losing ground
Buyers who close in 60 days do these five things. Buyers who search for six months skip them.
Confirm your funds. Proof of funds for cash, or a full pre-approval for financing. Foreign national buyers should confirm terms early, since 30% to 40% down is standard.
Define must-have versus nice-to-have before the first showing. Line, floor, view, and parking are must-haves. Finish level usually is not.
Review HOA financial health before you fall in love with a unit. Milestone inspection, reserve study, assessment history.
Clarify rental restrictions early if investment yield is part of the plan. Minimum lease terms and annual caps vary building by building.
Plan for association approval. Two to four weeks is typical, including application, fee, and sometimes an interview. Put it in your contract dates.
Buyers searching Miami luxury condos for sale by neighborhood or price range find the shortlist gets manageable fast once those decisions are locked in.
Why principal-led, bilingual representation matters
In a luxury condo transaction, you don't want a rotating team of assistants negotiating your contract or a call center handling your building application.
Real Estate Sales International Inc. is structured so that every search is handled directly by one of two principals, from first showing through closing:
Salome Penailillo, Broker/Owner, Florida License 3275437
Juan Carlos Perez PA, Broker Associate, Florida License 3276972
No junior agents. No handoffs. Full professional service in English and Spanish at every stage, which matters when you're dealing with international sellers, multilingual boards, or coordinating a purchase from Latin America or Europe.
To start a focused search rather than scrolling listings on your own, book a 10-minute introduction call. It's a direct conversation with one of the principals, not a screening form and not a sales pitch.
Frequently asked questions
What is the average price of a luxury condo in Miami in 2026?
The median for Miami condos at $1M and above was $1,841,000 in Q1 2026, at $1,040 per square foot across 424 sales.
What is the cheapest neighborhood for a luxury condo in Miami?
Downtown Miami at $730 per square foot, with entry luxury near $700K. Bay Harbor Islands is the value option on the barrier island side.
Which Miami neighborhood has the highest price per square foot?
Edgewater leads Greater Downtown at $978. Miami Beach and the barrier islands run higher at $1,178. Trophy buildings like Mandarin Oriental Residences have traded near $6,300.
How much are HOA fees for a Miami luxury condo?
$1,200 to $2,000 a month in mid-tier buildings. $1,800 to $3,500 in full-service towers. Branded residences run $3.50 to $6.00 per square foot per month, or $7,000 to $12,000 on a 2,000 square foot unit.
What are Miami-Dade property taxes on a condo?
About 2% of assessed value per year on non-homestead property, so roughly $2,500 a month on a $1.5M condo. Homestead exemption applies only to primary residences.
Is 2026 a buyer's market for Miami condos?
Yes in the $1M-plus segment. Inventory hit 19 months in Q1 2026, well above the six-month balanced benchmark.
Can foreign nationals buy a condo in Miami?
Yes. There is no citizenship or residency requirement. Financing is available through portfolio lenders at 30% to 40% down. Cash purchases can close in two to three weeks, subject to association approval.
What is SB-4D?
Florida's 2022 law requiring milestone structural inspections and reserve studies for condo buildings three stories and taller. It also limits an association's ability to waive reserve funding. It is the most important document review in any Miami condo purchase.
Should I buy preconstruction or resale?
Preconstruction gives you first-mover pricing and a compliant new building, but a long timeline and a 20% to 50% deposit schedule. Resale gives you the unit now and negotiating leverage. It comes down to your timeline and income needs.
What new developments are launching in Miami in 2026?
Active sales include Cipriani Residences, The Residences at Mandarin Oriental on Brickell Key, 619 by Nobu, Faena Miami Residences, Waldorf Astoria Residences, Villa Miami, Jean-Georges Miami Tropic, Midtown Park by Proper, The St. Regis Residences in both Brickell and Sunny Isles, Shore Club, Aman Miami Beach, and Four Seasons Coconut Grove.
How long does condo association approval take in Miami?
Two to four weeks for most luxury buildings. Some Miami Beach and Brickell Key buildings run longer.
Do I need a buyer's agent?
The on-site agent at a new development represents the developer. Independent representation costs a buyer nothing on most transactions and is the only way to compare new construction and resale side by side.
The decisions you need to make now
Miami luxury condos in 2026 span a genuine range of buildings, price points, and ownership experiences. The difference between a good purchase and the right one comes down to knowing the buildings from the inside: their financial health, their amenity reality versus amenity marketing, and their position relative to what's delivering or trading in the same submarket.
Your four core decisions:
Neighborhood
Building tier
New construction versus resale
Total monthly carrying cost budget
Once those four are clear, the shortlist gets short fast.
Book a 10-minute introduction call with Real Estate Sales International Inc. to get that clarity and start a search built around your actual criteria.
About the author
Salome Penailillo is Broker/Owner of Real Estate Sales International Inc., a boutique bilingual brokerage serving Miami-Dade and Broward from 2031 Harrison St, Hollywood, FL 33020. She holds a BBA in Finance from Florida International University and has more than twelve years in South Florida real estate, preceded by more than twenty years in international corporate sales. She works with buyers, sellers, landlords, and tenants in English and Spanish.
Florida Real Estate License 3275437
(786) 252-6307
Market figures are from Q1 2026 Miami and Greater Downtown luxury condo market reports. New development pricing and delivery dates come from our developer tracking as of August 2026 and change frequently. Contact us for current price lists.
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