Thinking about a shiny new Brickell tower or a proven resale condo you can enjoy now? Both paths can work well in Miami’s urban core, but each comes with different deposits, fees, timelines, rental rules, and risk. If you value clarity before you wire a deposit or sign a contract, you’re in the right place. Below, you’ll see what to expect for pre-construction and resale in Brickell so you can choose with confidence. Let’s dive in.
Brickell overview
Brickell is Miami’s dense financial and luxury living district, with new towers, branded residences, and a walkable mix of office, dining, and retail. Recent development has focused on high-amenity, lifestyle-driven product that commands premium pricing. New buildings often carry higher price per square foot and higher condo fees, while resales offer immediate occupancy and real expense history. Macro forces, including interest rates, foreign capital flows, and construction costs, shape both new-development pricing and resale demand.
Deposits: pre-construction vs resale
Pre-construction deposits
Deposit schedules vary by project, stage, and developer. Early in a launch, you typically place a small initial deposit to secure a unit, then add staged deposits tied to dates or construction milestones. Cumulative deposits before closing often reach 20 to 30 percent, with the final balance due at closing, which you may finance. Early buyers sometimes see more favorable pricing but can face tighter assignment rules.
Near-delivery contracts
If you buy closer to completion, the percentage due may be higher and required sooner. You will still complete staged deposits, then bridge to permanent financing or cash at closing. The key is timing your capital outlay to the developer’s schedule.
Resale deposits
Resale condos typically follow standard Florida contract norms for earnest money, often 1 to 5 percent of the purchase price, subject to negotiation. You finance or pay the balance at closing. You also gain immediate visibility into comparable sales and rental history.
What this means for you
Your capital exposure is higher, and at risk for longer, with pre-construction. Assignment clauses matter for investors who want flexibility to transfer the contract before closing, and some developers restrict assignments or charge fees. Financing can shift between contract and delivery, which is a risk if interest rates rise or lending tightens.
- Ask for the full deposit schedule and any assignment rules upfront.
- Confirm refund and termination terms if delivery is delayed or the project changes.
- Plan for financing changes that could affect your ability to close.
Developer and closing costs
Up-front charges at closing
Expect the purchase price plus any upgrade or change-order costs, such as appliance packages, finishes, or parking upgrades. Depending on the negotiation and norms, some closing costs may fall to you, including documentary stamps, recording, title insurance, lender fees, and intangibles. New developments commonly collect one-time association initiation fees or capital contributions at closing to fund reserves or start-up operations.
Monthly and annual costs
New luxury towers often feature 24/7 staffing, valet, resort amenities, and on-site management. Monthly condo fees usually reflect this higher service level. Review the budget and any reserve plan, and ask about potential special assessments. Insurance is a meaningful expense in high-rise Miami living due to wind, hurricane, and flood exposure, and it can impact association dues or assessments. Property taxes will be based on assessed value and can differ from prior-year figures in brand-new towers.
Branded residences
Branded buildings may offer hotel-style services and optional or mandatory rental programs. This can involve separate access fees, management charges, and revenue sharing with an operator. These costs can improve the lifestyle experience but may reduce net income for investors.
How to get clear numbers
Ask the developer or association for a written closing-cost estimate and the first-year operating budget. Review the condominium documents, bylaws, and budget to confirm dues, reserve policy, and any anticipated assessments. If renting will be part of your strategy, make sure all program fees and splits are itemized in writing.
Delivery timelines and delays
Typical timeline
From presale to delivery, a high-rise build commonly takes 24 to 48 months. The path includes execution of the contract, staged deposits, construction, certificate of occupancy, and closing. Treat the delivery date as a plan, not a guarantee.
What can delay delivery
Delays are common and can stem from permits, labor constraints, supply-chain issues, change orders, financing challenges, hurricanes, or regulatory holdups. In recent cycles, several Miami projects experienced delivery slippage, so it is prudent to build a buffer into your plans. A 6 to 24 month variance is not unusual in certain market conditions.
Protect your plan
Review the contract for any liquidated damages, force majeure language, and termination or refund rights tied to delays or cancellations. Ask for the current construction schedule, permit status, and confirmation of construction financing. Prepare contingencies, such as short-term housing, bridge financing, or an assignment strategy if permitted.
Rentals and yield
Rental rules to know
Condo declarations control leasing. Many buildings, including branded residences, set minimum lease periods, for example 30 to 90 days, and may require use of an operator’s rental program. The City of Miami and Miami-Dade County regulate short-term rentals with licensing and code rules, and condo bylaws can be stricter than local laws. In branded buildings, participation terms, fees, and revenue splits can affect your net results.
Yield tradeoffs
Pre-construction offers potential price appreciation between presale and delivery if the market rises, plus a new product that can command premium rents. There is no cash flow during construction, and delivery timing and market shifts add risk. Resales can generate rent immediately, with actual expense history and rent comps to underwrite. Older resales often carry lower monthly dues than new luxury towers, which can improve net cash flow even if gross rent is lower.
Underwriting basics
Net yield depends on achievable rent, condo dues, insurance, taxes, management fees, and vacancy. For furnished or short-term plans, include turnover and setup costs. In branded programs, operator fees and revenue splits can materially reduce net yield. In Brickell, many condo investors target conservative cash yields and focus on total return that includes potential appreciation.
Due diligence checklist
Developer and project
- Track record of the developer, including delivery history and any notable litigation or warranty issues.
- Status of permits and approvals, and timeline for certificates of occupancy.
- Construction financing details and disclosure of the lender if available.
- Percent of units presold and any thresholds required by the lender.
- Condo documents: rental rules, parking, pets, voting rights, assessments, and reserve policy.
- Assignment and transfer rules, including any consent or fees.
Contract and financial
- Deposit schedule, refund terms, and remedies for default.
- Closing-cost allocations between buyer and developer.
- Warranties on construction, water intrusion, and appliances.
- HOA budget, reserves, and any known or expected assessments.
- Insurance responsibilities, including master policy and deductibles.
- Property tax approach for new assessments and any exemptions.
Rental and revenue
- Rental policy details and any operator or management agreements.
- Comparable rents, seasonal occupancy patterns, and target tenant profiles.
- For branded programs, sample revenue splits, fees, and assumptions.
Physical condition (resale)
- Full inspection of systems and envelope, including A/C, windows, and plumbing.
- Upcoming capital projects and any deferred maintenance at the association level.
- Parking and storage rights, and confirmation of deeded versus assigned spaces.
Professional team
- Real estate attorney experienced in Florida condominium law.
- CPA or tax advisor for cross-border or investment considerations.
- A local broker with knowledge of Brickell presales and resale comps.
Early access to launches
How early access works
Developers maintain interest lists for priority release. A strong broker relationship can unlock early information and selections. Early reservations may require a small deposit, followed by a formal purchase agreement with a defined deposit schedule. Be prepared to provide ID, proof of funds, and entity documents if buying through a company.
Be ready to move
- Clarify your financing plan, including potential construction or bridge financing.
- Line up legal counsel to review documents quickly.
- Prepare targeted questions on permits, financing, amenities, rental rules, and association budgets.
Which path fits you?
If you want the newest product, hotel-level services, and the potential to capture developer pricing at an early stage, pre-construction can be compelling. You trade certainty for upside, and you accept construction and timing risk. If you prefer immediate use or income, visibility on expenses and rents, and the ability to inspect before you commit, a resale is often the better fit.
The best choice comes down to how you value timing, flexibility, and risk. Define your goals, model both scenarios with realistic costs and rents, and stress-test for delays or rate shifts. A clear plan will help you match the right Brickell condo to your lifestyle or investment strategy.
Ready to compare specific buildings, budgets, and rental paths in Brickell? Schedule a private, data-forward consultation with Santiago Ferreira to map your options and move with confidence.
FAQs
What deposit should I expect for a Brickell pre-construction condo?
- Deposit schedules vary by project and stage, but cumulative deposits often total 20 to 30 percent before closing, with the balance due at closing.
How long do new Brickell towers usually take to deliver?
- Plan for 24 to 48 months from presale to delivery, and account for possible delays of 6 to 24 months or more due to permits, supply chains, or weather.
Are branded residences better for rentals in Miami?
- They can achieve higher gross rents, but rental rules, operator fees, and revenue splits may reduce net yield; fit depends on your income and lifestyle goals.
What monthly condo fees should I expect in new vs older Brickell buildings?
- New luxury towers often have higher dues due to staffing and amenities; older resales can be lower, so verify the association budget, reserves, and any assessments.
Can I assign my pre-construction contract before closing in Brickell?
- Sometimes, but many developers limit or charge fees for assignments; confirm the specific clause in your purchase agreement before you commit.
What closing costs should Brickell condo buyers budget?
- In addition to price, budget for title and recording, doc stamps, lender charges, and possible HOA initiation or capital contributions; allocations vary by deal.
