Miami Pre-Construction Market Update — March 2026: What Buyers Need to Know

Miami's pre-construction market in March 2026 is defined by a single reality: the city is building its most ambitious luxury pipeline in history, and the best inventory is disappearing before most buyers even know it exists. With over 36,000 multifamily units underway countywide, the Waldorf Astoria at 60 floors and climbing toward 100, and E11EVEN Hotel & Residences finally handing over keys to buyers who got in three years ago — this is a market that rewards early positioning and punishes indecision.

I've been working Miami's pre-construction market for over 20 years, and I can tell you the current cycle is unlike anything we've seen. The developer names are bigger. The brands are global. The architecture is world-class. And the buyer profile has shifted dramatically — we're seeing more primary-residence purchases from New York, Chicago, and California relocators, alongside the international capital that has always fueled this market. Here's where things stand.

Where Does the Miami Condo Market Stand in March 2026?

Miami-Dade County's median single-family home price sits around $700,000 as of early 2026, and inventory levels have risen approximately 5.6% year-over-year, according to the Miami Association of Realtors. That broader market context matters because it's giving buyers something they haven't had in years: breathing room. Single-family homes are averaging 53 days to contract. Condos are at roughly 71 days. Miami Beach condos specifically sit at a 13.7-month supply — firmly in buyer's-market territory for resale product.

But here's the disconnect that creates opportunity: the resale condo market and the luxury pre-construction market are operating on different planets. While existing inventory above a certain age is struggling with Florida's stricter reserve requirements and insurance costs, new construction at the top end is absorbing steadily. Projects like the Waldorf Astoria Residences in Downtown Miami are more than 90% sold. Branded residences from hospitality names — St. Regis, Mandarin Oriental, Ritz-Carlton, Nobu — are commanding premiums that keep climbing. Luxury pre-construction prices are forecast to rise approximately 4% by end of 2026, building on multi-year appreciation trends.

International demand remains a structural pillar. Brazilian, Colombian, Mexican, Canadian, and European buyers continue to underpin Miami's luxury segment. Florida's absence of a state income tax remains the gravitational pull for domestic relocators from high-tax states. The 2026 FIFA World Cup, with multiple matches at Hard Rock Stadium, is injecting additional global attention into the market heading into summer.

Which Miami Pre-Construction Projects Have Just Delivered?

E11EVEN Hotel & Residences — Now Delivering

E11EVEN Hotel & Residences is the headline delivery of early 2026. The 65-story tower developed by PMG and E11EVEN Partners at 20 NE 11th Street in Park West began closings in February 2026. It's the first building in the E11EVEN two-tower complex — Phase 1 — and offers 456 fully furnished residences designed by AvroKO Hospitality Group, along with the kind of entertainment-driven amenity package that put this project on the map: a 20,000-square-foot day club and pool, Chopra Spa & Studio, rooftop restaurant and nightlife venue, and a casino-style sports lounge with a 40-foot LED video wall.

For buyers who got into E11EVEN at launch pricing in 2021, this delivery represents significant equity. The key question now is what the resale market looks like as units close and early investors decide whether to hold or flip. I'm tracking those numbers closely — if you're looking at E11EVEN resales, reach out to me directly at 305-321-7655 because the best units will move fast once the full amenity activation happens, which sources suggest could culminate in a major grand opening event later this year.

Una Residences Brickell — TCO Received

Una Residences on South Brickell Avenue received its Temporary Certificate of Occupancy (TCO) in February 2026, welcoming its first residents. Developed by OKO Group and Cain International, this 45-story bayfront tower with 135 residences was more than 90% pre-sold. Designed by Adrian Smith + Gordon Gill Architecture with its distinctive nautical-inspired silhouette, Una is one of the few truly waterfront towers delivered in Brickell in this cycle. Prices started around $2.6 million, with remaining inventory limited to a handful of premium units.

What Major Projects Are Under Construction Right Now?

This is where it gets exciting. Here are the major towers rising across Miami's skyline with current construction status and pricing as of March 2026:

Source: Developer announcements, CondoBlackBook, Florida YIMBY. Prices are approximate starting points as of March 2026 and subject to change. Contact Adrian Sanchez at WIRE Miami — 305-321-7655 — for current availability and pricing.

Waldorf Astoria Residences Miami — 60 Floors and Counting

The Waldorf Astoria Hotel & Residences Miami at 300 Biscayne Boulevard is the most important construction story in Downtown Miami right now. As of February 2026, the reinforced concrete superstructure has reached the 60th floor — entering the sixth of nine stacked cubic volumes that define the building's signature silhouette. Developed by PMG and Greybrook Realty Partners alongside Mohari Hospitality, S2 Development, and Hilton, this 1,049-foot tower will become Florida's first supertall and the tallest residential building south of New York City. The construction team is averaging one floor every ten days. The project is backed by a $668 million construction loan from Bank OZK and Related Fund Management — the largest residential condo construction loan in Florida history. More than 90% of the 387 residences are sold, with remaining units starting around $3.2 million and the penthouse listed at $50 million. Topping off is projected for late 2026, with completion expected in January 2028.

Dolce & Gabbana / 888 Brickell

888 Brickell by Dolce & Gabbana, developed by JDS Development, is rising as a 90-story tower with 259 residences designed by Studio Sofield. Starting around $1.3 million, this is the fashion house's first residential venture and it's set to deliver in 2029. JDS — the same developer behind 111 West 57th Street in Manhattan and Mercedes-Benz Places in Brickell — brings serious high-rise execution credibility. At this price point, 888 Brickell competes directly with St. Regis and 1428 Brickell for the Brickell buyer in the $1.3M–$2M range.

St. Regis Residences Miami

St. Regis Residences Miami in Brickell is a 48-story, 152-residence tower developed by Related Group and Integra Investments. Starting around $1.5 million, St. Regis brings the Marriott luxury hospitality brand's signature butler service and five-star programming to Brickell for the first time. The building also includes limited private boat slips — a genuine rarity in Brickell, where waterway regulations restrict marina development. Those slips will go to penthouse buyers first, making upper-floor inventory especially competitive. Construction is progressing, with delivery targeted for 2028.

1428 Brickell

1428 Brickell, developed by SHVO, rises 70 stories in the heart of Brickell with residences starting around $1.2 million. The project's design and positioning target the sophisticated buyer who wants a flagship Brickell address without the branded-residence markup. At $1.2M entry, 1428 represents arguably the strongest value proposition among Brickell's top-tier new towers for the buyer who prioritizes location, design, and finish quality over a hotel-brand nameplate.

Mercedes-Benz Places Brickell

Mercedes-Benz Places is JDS Development's second major Brickell project and the first Mercedes-Benz branded residential tower in North America. With residences starting around $600,000, this roughly 65-story tower is the most accessible entry point into Brickell's current new-construction cycle. That price point has attracted strong demand from first-time Miami buyers and younger professionals — the kind of buyer who wants to be in Brickell but isn't writing a $1.5M check yet. I sold the land to the developer where this building is going up, so I know this site and this project inside out. Delivery is expected in 2028.

Mandarin Oriental Residences, Brickell Key

The Residences at Mandarin Oriental on Brickell Key is the ultra-luxury play in this cycle. Developed by Swire Properties with approximately 220 branded residences starting around $3.5 million, this is a different product for a different buyer. Brickell Key's island setting provides a level of separation from mainland Brickell's density, and the Mandarin Oriental brand signals a service standard that appeals to primary-residence buyers who want five-star living as a daily experience, not a vacation amenity. HOA fees are among the highest in the market — around $275 per square foot — which reflects the depth of programming. Delivery is projected for 2030.

Perigon Miami Beach

The Perigon Miami Beach, developed by Mast Capital, offers just 82 oceanfront residences starting around $4.1 million. Designed by Rem Koolhaas's OMA — the firm's first residential tower in the United States — The Perigon occupies a prime Mid-Beach site with direct ocean frontage. This is intentionally low-density, with large-format homes designed for year-round living. The architecture alone sets it apart from anything else on the Beach. If you're comparing Miami Beach oceanfront options, Perigon is the design-forward, architecturally significant choice.

Bentley Residences Sunny Isles Beach

Bentley Residences is a 61-story oceanfront tower in Sunny Isles Beach — the first Bentley Motors branded residential tower in the world. The project's signature feature is its automated car elevator system, delivering vehicles directly to owners' residences. Starting around $4.2 million, Bentley targets the international ultra-luxury buyer who prioritizes oceanfront living with automotive-grade engineering and craftsmanship. This is a very specific buyer — and that specificity is what will protect resale values long-term.

What About Early-Stage Projects Not Yet Under Construction?

Nobu 619 Brickell — Insider Access Only

Nobu 619 Brickell is in a whisper-stage Friends & Family campaign right now — and this is the kind of early access that defines what WIRE Miami does. The project: 74 stories, approximately 300 residences, designed by Foster + Partners in collaboration with Sieger Suarez Architects, 90,000 square feet of private amenities, and a waterfront Nobu restaurant at the base. Located at 619 Brickell Avenue on one of the last waterfront development parcels in Brickell, this project is widely regarded as one of the most architecturally significant residential towers planned for the neighborhood.

At this stage, pricing and inventory haven't been publicly released — and that's the whole point. The best units in the best buildings go to buyers who are connected before public launch. If Nobu 619 is on your radar, contact me directly at 305-321-7655. This is exactly the type of project where early positioning makes a material difference in what you can access.

Delano Residences Miami — PMG's Second Supertall

Delano Residences was announced in February 2026 as PMG's second supertall tower in Downtown Miami, rising 90 stories to approximately 985 feet — directly adjacent to the Waldorf Astoria. The project is a partnership with Ennismore (Accor's lifestyle hospitality division) and brings the iconic Delano brand into its first-ever branded residences. With 421 units starting around $800,000, Delano occupies a different segment than the Waldorf — more accessible pricing, a younger lifestyle-driven brand identity, and a larger unit count. Designed by Cube 3 and Carlos Ott, the same architect behind the Waldorf's stacked-cube design. Sales are active.

Okan Tower — Construction at the 40th Floor

Okan Tower at 555 North Miami Avenue is a 72-story mixed-use tower that's been one of the more complex development stories in Downtown Miami. As of January 2026, construction had reached the 40th floor and the developer secured a $200 million C-PACE loan to complete the project. The tower is 62% pre-sold and will include 163 condos, 236 condo-hotel units managed by Hilton, and a 316-room Hilton Miami Bayfront Hotel. Starting around $400,000 for condo-hotel units, Okan offers the lowest entry point in the Downtown supertall corridor.

What Should Buyers Be Watching Through the Rest of 2026?

Three dynamics are shaping the second half of 2026 that every buyer needs to understand:

The delivery wave is real. E11EVEN has delivered. Una has delivered. Multiple projects in the pipeline are approaching TCO milestones in 2026 and 2027. This means resale inventory from original pre-construction buyers will hit the market — creating short-term opportunities for buyers who prefer to see a finished product before committing. But don't confuse delivery-wave resale with distress. These sellers are largely profitable. They're not desperate.

The branded-residence premium keeps expanding. Hospitality-branded condos — Waldorf, St. Regis, Mandarin Oriental, Ritz-Carlton, Nobu, Bentley — have historically appreciated 25–40% over full development cycles in Miami. That brand premium isn't just about the name on the building. It's about the service infrastructure, the management quality, and the global buyer network that brands attract. If you're evaluating two comparable towers and one carries a global hospitality brand, the branded project will outperform on resale.

Interest rate stability is expanding the buyer pool. With mortgage rates stabilizing around 6.3% in early 2026, the qualified buyer pool is growing. That said, most luxury pre-construction buyers in Miami are cash purchasers — international capital and domestic wealth that doesn't depend on mortgage financing. The rate environment matters more for the $600K–$1.2M segment (Mercedes-Benz Places, Okan Tower, Delano Residences) than for the $3M+ tier.

This market rewards informed buyers who move decisively. The projects I've covered here represent the strongest inventory across Brickell, Downtown, Miami Beach, and Sunny Isles — but every buyer's situation is different, and the right building depends on your goals, timeline, and budget.