The District 225 tower planned in downtown Miami is already nearly sold out, the developer has announced.
The 37-story District 225 tower becomes yet another Miami condo tower planned without a parking garage to achieve strong sales. Other nearby condo towers planned without parking, including Centro, Yotelpad, E11even and 501 First, have also sold out quickly.
In a social media post, the developer said the tower had achieved a “record” sales pace, with 87% of units in contract after just 5 months.
A total of 343 condo units are planned, with around 300 of those now sold.
Prices appear to be around $700 per square foot, with units delivered fully finished and furnished.
Buyers are required to place deposits totaling 40% of the condo unit’s value during construction.
The developer filed a Notice of Commencement with Miami-Dade County on September 24 stating that total demolition was underway at the site.
City records show that a demolition permit was issued on October 2. There does not yet appear to be any construction permit pending yet.
The developer has previously said groundbreaking would take place in the fourth quarter of 2021.