Developers To Build 13 Condo Projects In Miami's Biscayne Boulevard Corridor
Developers are planning or already constructing nearly 3,300 units in Miami's Biscayne Boulevard Corridor submarket that includes the Edgewater, Midtown and Wynwood neighborhoods.
Developers are planning and or constructing a baker’s dozen number of condo projects in the Biscayne Boulevard Corridor submarket of Greater Downtown Miami.
The 13 new condo projects are projected to add nearly 3,300 units to an area that is already struggling with nearly two years of resale supply listed for resale but not transacting.
The overall amount of condo supply available for purchase is most likely significantly higher as many of the units in the new developments are not listed for sale publicly.
The Biscayne Boulevard Corridor submarket is defined as the Gen. Douglas MacArthur Causeway north to the Julia Tuttle Causeway, and Biscayne Bay west to Interstate 95.
This 30-block stretch from south to north includes the neighborhoods of Edgewater (east of Miami Avenue), Midtown (north of 29th Street between Northwest 2nd Avenue and Miami Avenue) and Wynwood (west of Miami Avenue).
We spent the last week examining the Biscayne Boulevard Corridor submarket in anticipation of our Miami Condo Correction Walking Tour™ at 10 am on Saturday, July 19, 2025.
Our three-hour tours are designed to educate buyers on how to identify discounted condos, analyze opportunities and purchase units. During our tours, we walk about four miles at a moderate pace with stops along the way.
The Biscayne Boulevard Corridor is one of three submarkets - along with the Brickell Avenue Area and the Central Business District - that together comprise Greater Downtown Miami.
The Biscayne Boulevard Corridor submarket is comprised of nearly 70 condo projects - planned, under construction or completed - with nearly 15,500 units.
The Biscayne Boulevard Corridor submarket represents about 26 percent of the total units in the Greater Downtown Miami condo market, which is comprised of 204 condo projects and nearly 59,000 units, according to our proprietary research.
Research shows that Miami’s Biscayne Boulevard Corridor submarket now has nearly 22 months of condos listed for resale during the 2025 South Florida Summer Buying Season, which stretches from May through October, according to a new report.
Industry watchers consider equilibrium to be about six months of supply with less months of inventory suggesting a sellers market and more months a buyers market.
The average asking price of a condo in the Biscayne Boulevard Corridor is nearly $1.1 million per unit and or about $759 per square foot as of July 18, 2025, according to CondoVulturesRealty.com.
In the busy 2024-25 South Florida Winter Buying Season between November and April, condos in the Biscayne Boulevard Corridor submarket traded for an average price of nearly $858,750 and or $667 per square foot, according to the research.
The spread between the asking price and the closed sales price means condo sellers are asking for a nearly 27 percent premium on units in the Biscayne Boulevard Corridor.
Generally, sellers ask about 20 percent more than the average transaction price with the expectation that the pricing difference - or spread - will be negotiated down in order to complete a deal.
In these situations, many buyers will typically ask to split the difference, meaning a 10 percent premium is common.
When the asking prices are more than 20 percent above the average transaction prices, it generally means one of two things:
Sellers are confident that demand is strong and buyers will pay up for units;
Or sellers want to unload their units but need a particular price to recoup their investments.
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™.
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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.
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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.
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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