After 60 Years, Miami's Brickell Avenue Market Poised To Reach 100 Condo Projects

In this issue of the Miami Condo Market Intelligence Report™, we reveal the findings from our latest study of the Brickell Avenue Area submarket of Greater Downtown Miami.

Volume 2025, Issue 24 (Subscribe here)

For this week’s Miami Condo Market Intelligence Report™ newsletter, we discuss our new study that itemizes every condo project - proposed, planned, under construction and completed - in the Brickell Avenue Area of Greater Downtown Miami.

In updating our South Florida condo projects database that dates back in 2006, we found that the Brickell Avenue Area - a 22-block stretch from the Eddie Rickenbacker Causeway north to the Miami River, and Biscayne Bay west to Interstate 95 - is poised to surpass 100 condo projects.

The total number of towers is greater as some condo projects have more than one building.

Overall, Greater Downtown Miami has 201 condo projects in a 60-block stretch from the Eddie Rickenbacker Causeway north to the Julia Tuttle Causeway, and Biscayne Bay west to I-95.

To reach this milestone, Brickell Avenue Area developers will have to follow through on all of their announced plans to build an additional 20 new condo projects - many of which are already under construction - in the most popular neighborhood - from many people’s perspective - in the Miami metro area.

In the last decade, the Brickell Avenue Area has dethroned South Beach as the top destination in Miami-Dade County for shopping, restaurants and nightlife.

This has led to a surge in new construction and prices for rental and condo units alike.

Despite currently experiencing a buyers market with more than 18 months of condo resale supply listed, industry watchers are still bullish in the long term on the neighborhood given its critical mass of residences, employment opportunities and infrastructure.

In the short term, however, condo pricing is an issue in the Brickell Avenue Area where the average asking price of a resale unit is nearly $1.2 million while the median monthly rent is about $3,750 per month, according to a new report.

Investors who adhere to the “1% Rule” would likely value Brickell Avenue Area condos at about $375,000 per unit, far less than the nearly $1.2 million currently being asked for units listed for resale.

This means, Brickell Avenue Area condo prices are overinflated by more than 300 percent for investors.

As a result, Brickell Avenue Area condo prices must either go down or rents need to go up to make up for the difference required to comply with the “1% Rule” that calls for monthly rents to represent about one percent of a property’s value.

As of June 13, 2025, our research found in the Brickell Avenue Area that:

• More than 100 condo towers are proposed, planned, under construction or completed;

• Nearly 29,500 units are or will be available, representing about 51 percent of Greater Downtown Miami’s nearly 57,600 total units;

• About 20 new condo projects are proposed, planned or under construction;

• 28 condo projects are considered Vintage as they are at least 30 years old;

• 37 projects are planned, under construction or completed since the Great Recession year of 2011.

• And the Brickell Townhouse condo - built in 1963 when the Florida Condo Law was enacted - is the oldest project in the neighborhood.

We are pleased to offer a portion of our research for free to our newsletter subscribers and MiamiCondo.Club readers, providing a glimpse into our insights.

For full access to our comprehensive reports, statistical charts, virtual Monthly Meetings and exclusive MeetUp events, we invite you to join the Miami Condo Investing Club™.

The Club's mission is to foster a community that shares realtime, actionable intelligence on the latest real estate trends, emerging opportunities and trusted service providers throughout South Florida.

Whether you are a Do-It-Yourself (DIY) condo buyer or a seasoned real estate professional, the Club provides invaluable resources, including up-to-date statistics, expert analysis and access to tailored consulting services.

An added benefit of the Club is that members receive discounts on all Miami Condo Correction Walking Tours™. Please visit MiamiCondoClub.eventbrite.com for a schedule of upcoming tours.

We also encourage you to explore our podcast, available on all major platforms such as Apple, Spotify and YouTube, for insightful discussions and updates.

As always, our consulting, expert witness and buyside brokerage services remain available to you, building on our established reputation since 2006.

For specific information regarding discounted condo resales or bulk deals in South Florida, please visit CondoVulturesRealty.com or contact our office directly at 305.865.5859.

— Peter Zalewski, Founder of the Miami Condo Investing Club™

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This information is intended for general informational purposes only and is based on research, personal experience, and interviews. It does not constitute legal advice, as we are not legal professionals. While we strive for accuracy and completeness, this information is provided on an "as is" basis, without any warranties or guarantees.

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