Investors are continuing to recognize the growing value of Miami properties as buyers flock to one of the latest waterfront condominiums to hit the market.
Elysee Miami, at 700 N.E. 23rd St. in the Edgewater neighborhood, has been quietly selling some of its units in the 57-floor tower expected to begin construction in April.
According to an article in The Real Deal, developers say sales are already showing the great promise for luxury condominiums in this part of the city. From the report:
So far, “whisper campaign” pre-sales for Elysee have been better than expected, Boren told TRD, declining to provide figures. Nearby, the developers’ Biscayne Beach, a 52-story, 399-unit tower on the bay on Northeast 30th Street, is now 98 percent sold, he said.
Construction is up to the 34th floor, and completion is expected at the end of 2016. The developers purchased Elysee’s waterfront site for $22 million, through a staged closing which will be completed next month. A four-story apartment building on the site is expected to be demolished in January 2016, Collin said, and construction is slated to begin in March or April 2016.
Elysee Miami is bound to be one of the most recognizable new constructions in the city’s skyline because of its height and its unique form — a “skinny” glass spire on the northern Biscayne shore. There will be a variety of floor plans, ranging in price from mid-million to $10 million.