Miami has always played by its own rules. But in 2026, the city isn't just bending them — it's rewriting the entire playbook for luxury real estate. From a record-shattering $565 million construction loan in Brickell to a sinuous 53-story waterfront tower rising on one of the last undeveloped bayfront parcels in Edgewater, the headlines are coming fast and the cranes are moving faster. For buyers, investors, and real estate watchers alike, one truth has never been clearer: Miami's new construction luxury market is in the middle of its most explosive chapter yet.
This isn't a general overview of what Miami could become. This is the live dispatch from the ground — the breaking announcements, the freshly launched sales campaigns, and the seismic market shifts that are redefining luxury living in South Florida right now.
Table of contents
- Miami Officially Dethrones New York as America's Luxury Capital
- The Towers Making Headlines Right Now
- Brickell: A Construction Frenzy Unlike Anything Before
- Waterfront Firsts: Edgewater and the Lilli Announcement
- Coconut Grove's Luxury Renaissance
- The Foreign Buyer Factor: 52% and Climbing
- Investment Snapshot: What the Numbers Say Right Now
- Key Statistics
- FAQ
Miami officially dethrones new york as america's luxury capital
The milestone arrived with the force of a category-five headline: Miami has officially surpassed New York City as the American city with the most million-dollar homes listed for sale. For nearly a decade, New York held that crown unchallenged. No longer.
According to Realtor.com's luxury housing report, Miami surpassed New York with 10,591 homes listed at $1 million or more, compared to New York's 10,176 million-dollar listings — and New York had held the top ranking for nearly a decade.
This isn't a statistical blip. Miami's luxury buyers are more likely to be cash buyers, international purchasers, retirees, or second-home buyers — demographics that are less sensitive to mortgage rates, school calendars, and seasonal norms — keeping inventory levels higher year-round.
More than one-quarter of demand in the Miami metro originates from the New York metro area — a share larger than the next eight metros combined. "This shift is not simply about people leaving New York," notes one analyst. "It reflects what Miami has become. Miami is now casting a global net, attracting high-income earners and families who are buying at $1 million, $3 million, $5 million-plus as a baseline."
The structural shift matters for new construction buyers: it means Miami luxury real estate 2026 is not a speculative bet — it's a proven destination market with institutional-grade demand and a pipeline of world-class product to match.
The towers making headlines right now
The velocity of announcements in 2026 has been remarkable. Here is a breakdown of the most significant new construction developments that have broken news in recent months:
The residences at 1428 brickell — a $565m vote of confidence
No single transaction better illustrates institutional conviction in Miami's luxury market than what happened in November 2025. JLL's Capital Markets group secured $565.35 million in construction financing for The Residences at 1428 Brickell, an ultra-luxury 70-story condominium tower in Miami's prestigious Brickell Financial District — one of the largest construction loans closed for a condo development in South Florida.
The numbers behind the project are staggering. The development will offer an unprecedented 80,000 square feet of amenities dedicated exclusively to residents, including resort-level pools, a two-story Owners Club, wellness facilities, and a rooftop observatory. As of October 2025, the project was already 57% presold, demonstrating strong market demand for ultra-luxury product in Brickell.
The project broke ground in November 2024, completed the largest mat foundation pour ever executed in Brickell in September 2025, and is slated for project delivery in Q4 2028. Unit interiors will feature Gaggenau appliance packages, Arclinea and Vaselli cabinetry, and natural stone and marble throughout — a standard that sets a new benchmark for luxury condos in Miami new construction.
619 brickell (nobu residences) — a brand arrives
Nobu Hospitality, in partnership with Key International and 13th Floor Investments, is moving forward with its first branded residential endeavor in Miami. The 74-story skyscraper is set to feature 300 luxury one-bedroom to four-bedroom residences.
In-unit amenities include nine-foot-high ceilings, rain showers, and integrated smart home technology such as keyless entry. A ground-level Nobu restaurant will make this the brand's second Miami location, integrating world-class dining directly into the residential experience. With over 90,000 square feet of private indoor and outdoor amenities, 619 Brickell is poised to become one of the most recognizable addresses on the Miami skyline.
PMG's one twenty brickell signature residences — a concept that sold out once already
In April 2026, developer PMG made waves with a launch that proved just how voracious demand has become. PMG launched sales for One Twenty Brickell Signature Residences, a 40-story luxury condominium tower rising in the heart of Brickell — an announcement that came after the successful sellout of the first tower, One Twenty Brickell Residences, and continues PMG's pioneering concept of pairing luxury residences with individually deeded private office suites.
The concept is a direct response to the post-pandemic lifestyle shift: buyers who want to live, work, and play within the same address. PMG is also developing a stacked pipeline of condo projects in Miami, including the planned supertall Delano Residences Miami, a 90-story, 421-unit project and the first branded residence for the historic Art Deco Miami Beach hotel.
Brickell: a construction frenzy unlike anything before
Brickell has always been Miami's financial and urban core, but in 2026 it is experiencing a construction wave that rivals anything in its history. The neighborhood's appeal to luxury buyers is multifaceted: walkability, proximity to financial institutions, world-class dining at Brickell City Centre, and a growing critical mass of ultra-premium residential addresses.
The question for discerning buyers has evolved from whether to invest in Brickell to which of the extraordinary new projects to choose. Consider the current pipeline:
| Project | Height | Units | Starting Price | Est. Completion |
|---|---|---|---|---|
| The Residences at 1428 Brickell | 70 stories | ~300 | $2M+ | Q4 2028 |
| 619 Brickell (Nobu) | 74 stories | 300 | ~$800K | 2029–2030 |
| One Twenty Brickell Signature | 40 stories | 240 | Contact developer | 2027–2028 |
| St. Regis Brickell Residences | High-rise | TBD | Ultra-luxury | TBD |
| 888 Brickell (D&G Residences) | High-rise | TBD | Ultra-luxury | TBD |
📊 57% presold before vertical construction topped off – The Residences at 1428 Brickell Presale Rate
The Dolce & Gabbana-branded 888 Brickell residences represent another dimension of the luxury arms race — fashion houses entering real estate as a full branding exercise, not just a licensing deal. This convergence of hospitality brands (Nobu, St. Regis, Four Seasons) and fashion houses (Pagani, D&G) with new construction is a defining trend of Miami luxury real estate in 2026 and beyond.
Waterfront firsts: edgewater and the lilli announcement
Perhaps no single new construction announcement in 2026 has generated more architectural excitement than Lilli, the sinuous 53-story tower rising on Biscayne Bay in Edgewater.
Called Lilli, the new waterfront tower in the city's Edgewater neighborhood is being developed by OKO Group, the firm led by Aman owner and CEO Vlad Doronin, in collaboration with Adrian Smith + Gordon Gill Architecture — the designers behind some of the world's most ambitious skyscrapers, including Dubai's Jeddah Tower.
Set directly on Biscayne Bay at 717 Northeast 27th Street, the 53-story tower will bring 117 residences to the waterfront, ranging from one-bedroom homes to penthouses nearing 7,000 square feet. Prices start at $1.65 million.
What makes Lilli extraordinary is its scarcity story. Located just north of Missoni Baia, Lilli will sit directly on Biscayne Bay, on one of the few remaining undeveloped bayfront parcels in Edgewater. As the neighborhood's waterfront has filled in over the past decades, opportunities to build directly on the bay have grown scarcer, making this pre-construction project a rare gem for buyers who crave city life on the water.
Amenities will be organized around four "living pillars" described as movement, recovery, nourishment, and connection. Planned features include a waterfront garden, infrared saunas, cold plunge pools, a treatment room, a movement studio, and a rooftop saltwater pool. The building will also include a dedicated lifestyle and wellness director — a hospitality-grade service layer that speaks directly to the evolving expectations of today's ultra-high-net-worth buyer.
""LILLI Miami Edgewater is one of the last chances to own in a new condominium on Biscayne Bay""
— CondoBlackBook
Coconut grove's luxury renaissance
While Brickell dominates the high-rise conversation, Coconut Grove is having its own defining moment in 2026 — and the story is about brand-driven luxury meeting Miami's most storied neighborhood.
The Four Seasons Private Residences Coconut Grove, located at 2699 South Bayshore Drive, represents Florida's first standalone Four Seasons residential tower. Sales have launched for this landmark project, with residences starting at $6 million — a price point that reflects both the exclusivity of the address and the prestige of the Four Seasons brand. The project is expected to deliver in 2028.
Meanwhile, The Well Coconut Grove broke ground in January 2026, bringing a wellness-focused residential concept to the neighborhood. Coconut Grove's appeal — historic canopy streets, direct bay access, a walkable village atmosphere, and proximity to Coral Gables — continues to attract a buyer profile that values lifestyle and permanence over pure urban density.
The neighborhood's transformation signals a broader truth about Miami luxury real estate 2026: buyers are no longer choosing between urban sophistication and residential tranquility. They are demanding both, simultaneously, in the same zip code.
The foreign buyer factor: 52% and climbing
One of the most striking statistics driving Miami's new construction luxury market is the extraordinary share of international demand. International buyers purchased 49% of new South Florida construction, pre-construction, and condo conversion sales over an 18-month period ending in June 2025, according to the MIAMI REALTORS® first-ever New Construction Global Sales Report.
Data was aggregated from 9,115 units in 37 new construction condominium projects in the Miami market area. And according to separate reporting from the New York Post, in at least one Florida city, foreigners were buying 52% of new-construction homes — a figure that underscores Miami's position as the preeminent international luxury market in the United States.
This international demand has structural implications for buyers and investors alike:
- Cash transactions dominate: Cash sales represented 37.1% of Miami closed sales in July 2025, compared to 35.6% in July 2024 — well above the national average of approximately 31%.
- Price floors are elevated: International buyers with no mortgage constraints bid aggressively on waterfront Miami properties, setting price floors that benefit all owners.
- No state income tax remains a powerful draw for both domestic relocators from high-tax states and international buyers structuring U.S. holdings.
📊 ~49–52% of all new construction sales – International Buyer Share of Miami New Construction
Investment snapshot: what the numbers say right now
The investment case for new construction luxury homes in Miami has never been more data-backed. Here's what the current numbers reveal:
Pricing Momentum
Miami Beach led in condo pricing at approximately $1,292 per square foot in Q3 2025, above Brickell and Greater Downtown, with South Beach even higher on a year-over-year basis. New construction commands a significant premium over resale — and for good reason: buyers receive modern systems, developer warranties, smart home integration, and the ability to customize finishes before delivery.
The Presale Advantage
Pre-construction pricing in Miami consistently delivers appreciation between contract signing and delivery. With major projects like 1428 Brickell already 57% presold before vertical construction reaches its full height, buyers who act early capture the most favorable entry points.
Rental Income Potential
Miami's status as a global destination — home to Art Basel, Formula 1, the FIFA World Cup 2026, and a year-round outdoor lifestyle — means luxury short-term and long-term rental demand is structurally strong. New construction buildings with hotel-brand affiliations (Nobu, Four Seasons, St. Regis) command premium rental rates and attract a globally mobile tenant base.
| Investment Factor | Miami New Construction Advantage |
|---|---|
| State Income Tax | None (Florida) |
| Construction Quality | Latest building codes, hurricane-resistant |
| Developer Warranties | Standard on new construction |
| Customization | Pre-construction allows finish selection |
| Appreciation History | Strong in waterfront/branded segments |
| Rental Demand | Year-round, globally driven |
📊 10,591 active listings — most of any U.S. city – Miami Million-Dollar Home Listings
Chiffres clés
📊 10,591 million-dollar homes listed in Miami — surpassing New York City for the first time in nearly a decade (Realtor.com, January 2026)
💡 $565.35 million construction loan secured for The Residences at 1428 Brickell — one of the largest condo construction loans in South Florida history (JLL Capital Markets, November 2025)
🌍 ~49–52% of Miami new construction sales purchased by international buyers (MIAMI REALTORS® New Construction Global Sales Report)
🏗️ $1.65M starting price for Lilli, Miami's newest Biscayne Bay waterfront tower — one of the last undeveloped bayfront parcels in Edgewater (OKO Group / Robb Report, May 2026)
Faq
What are the most significant new luxury condo announcements in miami in 2026?
The biggest breaking developments include: Lilli in Edgewater (53-story OKO Group tower designed by Adrian Smith + Gordon Gill Architecture, the firm behind Dubai's Jeddah Tower); The Residences at 1428 Brickell (70-story ultra-luxury tower with a record $565M construction loan, 57% presold); 619 Brickell / Nobu Residences (74-story Nobu-branded tower, the brand's first residential project in Miami); and PMG's One Twenty Brickell Signature Residences (40-story tower with deeded private office suites, following the complete sellout of its predecessor tower).
Why did miami overtake new york in million-dollar home listings?
Miami surpassed New York with over 10,591 million-dollar listings versus New York's 10,176 — a milestone nearly a decade in the making. The shift reflects Miami's structural advantages: a year-round luxury buyer base dominated by cash-paying international investors and domestic relocators, no state income tax, and a robust new construction pipeline that continuously adds high-value inventory. New York, by contrast, faces high construction costs, zoning restrictions, and slower permitting processes that constrain supply growth.
What neighborhoods are seeing the most new luxury construction activity right now?
Brickell leads in volume and headline-grabbing scale, with multiple 70+ story ultra-luxury towers under construction or in pre-sales. Edgewater is the hottest emerging waterfront neighborhood, with Lilli occupying one of the last true bayfront development sites. Coconut Grove is experiencing a branded luxury renaissance with the Four Seasons Private Residences and The Well Coconut Grove. Miami Beach continues to dominate in price-per-square-foot, with bayfront properties fetching multi-million-dollar prices in recent weeks.
What is the foreign buyer share of miami's new construction market?
According to the MIAMI REALTORS® first-ever New Construction Global Sales Report, international buyers accounted for approximately 49% of new South Florida construction, pre-construction, and condo conversion sales over an 18-month period — with some reports citing figures as high as 52% in certain submarkets. This exceptionally high international demand is a key driver of Miami's premium pricing and market resilience.
Is pre-construction still a smart entry strategy in miami's 2026 luxury market?
For most buyers, yes — particularly in projects with strong developer track records and demonstrable presale velocity. The Residences at 1428 Brickell being 57% presold before its construction loan even closed is a compelling data point. Pre-construction buyers in Miami's luxury segment typically benefit from below-delivery pricing, the ability to select finishes and configurations, and appreciation that occurs between contract signing and closing. Working with a specialist familiar with developer credibility, HOA structures, and delivery timelines is essential.
Conclusion: the window is now
Miami's new construction luxury market in 2026 is not a trend to watch from a distance. It is a live event — with cranes in the air, sales offices opening, and presale allocations filling up in real time. Whether it's the architectural audacity of Lilli rising over Biscayne Bay, the institutional confidence behind a $565 million construction loan in Brickell, or the historic milestone of Miami surpassing New York as America's luxury real estate capital, the signals all point in the same direction.
The buyers who act on breaking developments — not after they've become widely known — are the ones who capture the most compelling entry points. Miami's waterfront properties are finite. The bayfront parcels are nearly gone. The branded residences from Nobu, Four Seasons, and Dolce & Gabbana are filling up.
Your Miami moment isn't coming. It's already here.
Schedule a private consultation with our luxury new construction specialists to explore current pre-construction opportunities, view exclusive listings, and receive our curated Miami Luxury Market Report — before the next wave of announcements changes the landscape again.
