Closings are now underway at the Bay House condo project in Edgewater, with buyers taking title to over 30% of units in the past few weeks alone.
Melo Group managed to complete construction of the 38-story tower in about 18 months – an incredibly fast pace. Groundbreaking took place in December 2013.
The developer has now moved on to another nearby project, the much bigger 647-unit Aria On The Bay, which recently broke ground. They also have a 497-unit rental project called Melody under construction a few blocks away.
Melo Group Completes Miami’s Bay House Condominium; Residents to Begin Moving in
Closings at the 165-unit tower are now underway, with more than 30% of units already closed in the last 2 weeks.
MIAMI, FL – May 27, 2015 – Melo Group has officially completed construction at Bay House, a 165-unit luxury condominium in Miami’s booming East Edgewater district, and is moving forward with unit closings. The 38-story tower becomes one of the first newly-constructed condominiums to deliver in the East Edgewater area – one of the fastest-growing neighborhoods in Miami – where more than a dozen new residential projects are currently in development. Bay House unit owners are expected to begin moving in as of this month.
Located at 600 NE 27th Avenue, Bay House currently stands at 99 percent sold, with only two premium penthouse units remaining for sale. The tower’s two-story penthouse residences range from 2,766 to 3,512 square feet in size and feature private rooftop decks with unobstructed, panoramic views of Biscayne Bay, Miami Beach and the downtown Miami skyline. Prices range from $2 million and up.
“Bay House introduces a new standard of luxury living to East Edgewater as the area transforms into a thriving residential neighborhood,” said Melo Group Principal Carlos Melo. “Melo Group has been developing in the area for the last 14 years and we are now looking forward to the success of our next project, Aria on the Bay, a 53-story luxury tower right down the street in downtown’s Arts & Entertainment district.”
Bay House condos are comprised entirely of three-bedroom units, ranging from about 1,581 to 1,720 square feet in size. Residences feature private and semi-private high-speed elevators, flow-through layouts, floor-to-ceiling impact resistant glass, premium appliances and finishes, and spacious terraces with direct bay and city views. Amenities include a 20,000 square foot resort deck complete with a swimming pool, Jacuzzi, outdoor lounge, cabanas and barbeque pavilion.
“Buyers, both international and domestic, are recognizing the value of owning a residence in a neighborhood that is centrally-located and surrounded by some of Miami’s highest-end restaurants and shopping,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, the project’s exclusive sales and marketing brokerage. “Bay House’s ideal East Edgewater location, unbelievable bay views, and unique all-three-bedroom floorplans set the development apart in this competitive market – and we’re excited to finally see it come to life!”
Melo Group’s newest development is the 647-unit Aria on the Bay condominium, which is set to rise in the heart of Downtown Miami’s Arts & Entertainment district. The 53-story luxury tower will be completely designed by Arquitectonica – from the architecture and interiors to the landscape design – and will feature a prime bayfront location with direct unobstructed views of Biscayne Bay and the Miami Beach skyline. Construction is estimated to get underway this summer, with completion slated for mid-2017.
Bay House marks Melo Group’s fifth residential tower completed this cycle – and fourteenth project overall – in the Greater Downtown Miami area. The firm’s latest wave of development comes on the heels of the delivery of 23 Biscayne condominium, which made headlines in 2011 when it became the first new condominium to launch and sell-out during the current real estate cycle – marking the Miami arrival of the now popular cash-heavy buyer financing model that reignited the City’s condo boom. All told, Melo Group plans to deliver a mix of 2,000 residential units over the next two years in the form of market-rate rental projects as well as luxury condominiums.