Strong Sales At Aria, Weak At Auberge

Brokerage ISG World released their second quarter survey of pre-construction and under-construction condo developments in Miami.

As of July 2016, some of the better performing projects in recent times include:

  • Aria On The Bay, Edgewater (70% of 648 units)
  • Canvas, downtown Miami (60% of 513 units)
  • The Harbour North Miami Beach (78% of 425 units)

Projects reporting poor results include:

  • Auberge at 1400 Biscayne (15% of 290 units)
  • Elysee Edgewater (27% of 100 units)
  • Turnberry Ocean Club Sunny Isles (30% of 154 units)

In Brickell, very few developer units remain available. Brickell Flatiron is actually 55% sold (the report states 45%), while the report also erroneously places One River Point (which refused to provide statistics) in Brickell.

 

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Anonymous
5 years ago

The rumor on the street is that AUBERGE MIAMI is closing its sales center bc they aren’t selling anything. They have already let go of two sales people and have extended their reservations bc of lack of sales. Related has saturated the market and this is proof of it.

Anonymous
5 years ago

What a shame.
The architecture is beautiful and it would fill that void.

Anonymous
5 years ago

Tear it down.

Anonymous
5 years ago

Aria building will look fantastic at night.

Anonymous
5 years ago

i live across from auberge and am disappointed but not really surprised….melos melody is hardly what i would want to look at everyday….maybe related should consider a rental version of auberge….that area is in demand but timing just might not be right for related to sell but would rent out pretty quickly……hope something happens there……

Anonymous
5 years ago

Thanks, Related. And MDC, take note because this means they’ll refrain from building those towers until they unload the rest of their inventory.

Marc305
5 years ago

We have clients who are very disappointed at Related, that after coming up with renderings of Auberge, showing it to be curbed and with a unique design, they now show it to be yet another rectangle box. It is one thing for Melody to look this way, because that is a rental apartment complex, Auberge are condos for SALE. If this is the best they can come up, I am not surprised sales are soft. This cycle is about to end anyway, we can only hope that if not build something better will go in its place in the future.

BAC
5 years ago

What are you talking about??? it still has the SAME curbs

Marc305
5 years ago

What am I talking about? Look at this renderings and then look at the model up above, that is what I’m talking about and what my clients are commenting on.

http://www.miamicondomasters.com/miami-condo-blog/auberge-residences-in-downtown-miami-set-to-launch-sales

Anonymous
5 years ago

Its really just another crappy Related building

Anonymous
5 years ago

The US dollar is strong. Related has to regroup because the foreign buyer’s cash doesn’t go as far, even this time last year.

Anonymous
5 years ago

All of Related’s project just mess up the market and this is proof that they will not move forward with this hideous project.

Anonymous
5 years ago

Perfect spot for a glass office tower. Why did they build this crap?

Yoe
5 years ago

Where is the office demand?

John Mackey
5 years ago

In Wynwood

Anonymous
5 years ago

Wynwood has Zika.

Anonymous
5 years ago

Overpriced for non-waterfront location.

HP
5 years ago

The pricing on this building is actualy very low…why do say is overpriced? and it does have water views….do you know anything about this developmet?

Anonymous
5 years ago

Does this report come out every quarter?
Pretty interesting.
Love to see the 3rd Quarter results…

Pentel
5 years ago

No Downtown and Edgewater info????

Anonymous
5 years ago

Why? Direct bayfront views, unobstructable views(Margaret Pace Park is there to stay). If Genting builds huge buildings in the future, it will block the Auberge views. In my opinion, all direct bayfront, unobstructable waterfront units will command a premium per sq ft price. If you block the bayfront view, you just have another apt. It’s all about the views. When you wake up, look to your side and see the bay, Miami Beach and the Ocean behind it! In my opinion.

david m
5 years ago

brickell seems bulletproof, seems like downtown (world center, waterfront, AAF station) is the next zone for sure.

Anonymous
5 years ago

Related should build a beautiful glass office tower instead of condos on Auberge site. Melo messed it all up with the Melody.

Anonymous
5 years ago

Agree