Miami developers expand advertising efforts to target out-of-state buyers.
As the U.S. economy gains strength and New York buyers look to acquire real estate assets in domestic markets offering a comparative value, one of Miami’s fastest-rising condos, Aria on the Bay, is taking its sales campaign to the Big Apple. Aria, the 53-story luxury condominium now underway in Downtown Miami’s Arts & Entertainment District, has secured registration to sell its remaining units in New York. The news comes as vertical construction of the building reaches the 34th floor, with about 75% of its 648 units already sold and under hard contract. Construction of the waterfront tower, quickly rising at 1770 N. Bayshore Drive along Biscayne Bay, is on track to top-off in April 2017 and be completed by Q1 2018.
“When you compare the top markets in Miami to New York, Miami is an incredible value at a third of the price,” said developer Carlos Melo, principal of the Melo Group. “Aria on the Bay offers buyers a luxury product on Miami’s waterfront in a walkable, family-friendly neighborhood surrounded by world-class cultural attractions – plus the lifestyle benefits of lower taxes and amazing weather year-round.”
Aria on the Bay includes one- to four-bedroom condos, as well as exclusive three-story upper penthouses with private pools, priced from the $400,000’s to about $6 million. The tower’s prime bayfront location will provide residences with unobstructed views of Biscayne Bay, Miami Beach and the city skyline. With unit prices averaging about $550 per square foot, Aria on the Bay offers an unmatched value for quality new construction in Downtown Miami.
Aria on the Bay is not alone – other South Florida condo projects have also registered in New York looking to capture the domestic northeast market, including Turnberry Ocean Club in Sunny Isles Beach, The Ocean Resort Residences in Fort Lauderdale Beach, and Oceana Bal Harbour in Bal Harbour, among others.
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