New Construction in Miami Beach: Pre-Sales, New Buildings, and What Is Coming

If you are trying to figure out new construction in Miami Beach, presales, new buildings, and what is coming, here is the short version: the island is basically built out, so every new tower you see is sitting on an assemblage someone spent years piecing together, and the projects break into three clear tiers. Some are delivered and selling like resale inventory. Some are under construction and close to finished. And some are still presale, meaning you are buying off a rendering and a construction schedule. Knowing which tier a building falls into changes everything about price, risk, and timeline, and that is what this guide walks through building by building.

I work with buyers across South Florida who assume “new construction” means the same thing everywhere. It does not. In Doral or Parkland, new construction usually means a builder with dozens of lots and a sales center. In Miami Beach, it means a developer who bought and combined several older lots, tore down what was there, and is building one tower that will never be replicated because there is no land left to do it again. That scarcity is the whole story behind the pricing you are about to see.

New Construction in Miami Beach: Pre-Sales, New Buildings, and What Is Coming

Right now, five projects define the active new construction landscape on the island, spanning three submarkets: South Beach, Mid-Beach, and North Beach. Two are delivered and actively selling. One is under construction and nearly sold out. Two are still in presale with deliveries pushed toward 2026 through 2028.

Here is the pipeline at a glance:

• Five Park Miami Beach (South Beach) - Delivered 2024-2025, actively selling, $1.5 million to $10 million+
• 72 Park Miami Beach (North Beach) - Delivered 2024-2025, actively selling, $759,000 to $2.2 million
• The Perigon Miami Beach (Mid-Beach) - Under construction, 90% sold, estimated delivery 2026, $4.5 million to $15 million+
• 72 Carlyle (North Beach) - Presale, estimated delivery 2028, $995,000 to $10 million
• The Shore Club Residences (South Beach) - Presale, ultra-luxury branded boutique condo

That spread from under $800,000 to over $15 million tells you something important: “new construction in Miami Beach” is not one product. It is a luxury high-rise market at the top and a still-attainable mid-rise market underneath it, and where you land depends heavily on which submarket and which building phase you are buying into.

What’s Already Delivered and Selling Now

Five Park Miami Beach

Five Park, developed by Terra Group and GFO Investments, is the gateway tower into South Beach from the west side of the island. It rises 48 stories, which is tall for Miami Beach’s height-restricted skyline, and it delivered in the 2024-2025 window with 268 units. Pricing runs from roughly $1.5 million up past $10 million for the larger and higher-floor residences.

What makes Five Park worth understanding, even if it is outside your budget, is the model it set: a residential tower built around an adjacent public park and connected by a signature elevated pedestrian canopy bridge. That is the kind of amenity that a built-out island cannot easily replicate, because it required negotiating public space as part of the development deal. If you are shopping new construction on the island and comparing amenity packages, Five Park is the benchmark other South Beach towers get measured against.

72 Park Miami Beach

72 Park, from developer Lefferts, sits in North Beach and is the most accessible new construction option currently delivered on the island. Pricing starts at $759,000, which is a real number for oceanfront-adjacent new construction in Miami Beach, and tops out around $2.2 million. The building has 206 units, is Gold LEED certified, and was built with short-term rental flexibility baked into the ownership structure, which matters a lot if you are weighing this as an investment property rather than a primary residence.

North Beach, where 72 Park sits, is a different neighborhood experience than South Beach. It is quieter, more residential, and still walkable to the sand, but without the nightlife density of Ocean Drive or Lincoln Road. If you want the specifics on how North Beach compares to Sunset Harbour, Mid-Beach, and the rest of the island’s neighborhoods, that breakdown is in our Miami Beach neighborhoods guide.

Both of these buildings are past the presale risk stage. You can tour a finished unit, see the actual view from the actual floor, and close on a normal timeline instead of waiting years for a certificate of occupancy. That certainty costs a premium compared to buying in at ground floor presale pricing, but for a lot of buyers, especially first-time buyers on the island, that certainty is worth paying for. If you are weighing whether entering Miami Beach at all is realistic on a first purchase, see our guide on being a first-time buyer in Miami Beach.

What’s Under Construction Right Now

The Perigon Miami Beach

The Perigon is the clearest example of how tight the ultra-luxury oceanfront segment has become. Developed by Mast Capital and Starwood Capital Group in Mid-Beach, it is already 90% sold while still under construction, with an estimated delivery in 2026. Only 82 units exist in the entire building, and pricing runs from $4.5 million to more than $15 million.

The building was designed by OMA, the architecture firm founded by Rem Koolhaas, and the finished product will include dining from a Michelin-starred chef, a private beach club, and expansive balconies on an oceanfront Mid-Beach site. At this price point and this level of scarcity (82 units, nearly sold out, no more land to build another one), The Perigon is not really a “shop around and compare” purchase. It is closer to reserving one of the last available units in a building that will not have a second phase.

If you are in this price range and want to understand how The Perigon compares to other ultra-luxury towers on the island, our guide to Miami Beach luxury condos from $1 million to $10 million-plus breaks down what that budget actually buys across South Beach, Mid-Beach, and the barrier islands.

What’s Still in Presale

72 Carlyle

72 Carlyle is Lefferts’ follow-up to 72 Park, also in North Beach, but positioned higher on price and further out on delivery. It is currently in presale with an estimated 2028 delivery, 134 units, and pricing from $995,000 to $10 million. Like its sister building, it is designed around fully furnished residences with flexible short-term rental allowances, and it sits on a quiet residential block rather than directly on a commercial corridor.

Buying into 72 Carlyle today means buying into a payment schedule stretched over roughly two years before the building even tops out, let alone delivers. That is standard for Miami Beach presale, but it is worth being honest about: your deposit is committed years before you get a key, and 2028 estimates in this market can slip.

The Shore Club Residences

Witkoff’s Shore Club Residences project in South Beach is the other active presale, positioned as an ultra-luxury branded boutique condo. This is a rebuild tied to the historic Shore Club hotel site, one of South Beach’s original Art Deco-era properties, and branded residences of this type typically carry hotel-level service (housekeeping, valet, room service style amenities) built into the ownership. Because it is early in its presale cycle, pricing and unit mix are still being finalized, but branded boutique product on this stretch of South Beach has historically priced at a significant premium over standard new construction, given the brand equity and the hotel-adjacent services.

How Presale Actually Works in Miami Beach

If you have never bought presale before, here is what the process actually looks like, stripped of sales-center language.

1. Reservation deposit. Usually a small, refundable amount to lock a unit and price before the purchase agreement is signed.
2. Contract deposit (10 to 20 percent). Once you sign the purchase agreement, this becomes non-refundable in most Florida presale contracts. Read the contract, not the brochure, for the exact terms.
3. Construction milestone deposits. Additional deposits are typically due at groundbreaking, topping off, and other construction milestones, bringing your total deposit to 30 to 50 percent of the purchase price before you ever close.
4. Closing. The remaining balance is due at closing, typically financed through a mortgage if you are not paying cash, once the certificate of occupancy is issued.

The risk in this structure is straightforward: you are committing real money years before delivery, based on renderings and a construction timeline that developers routinely push back. Delivery estimates of 2026 or 2028 are estimates, not guarantees. On the other hand, the reward is real too. Early presale pricing is almost always lower than pricing at delivery, and buyers who got into 72 Park or Five Park early bought below what those units trade for today.

The honest answer on whether presale is right for you comes down to two questions: can you handle your capital being illiquid for several years, and are you buying because you actually want to live in or hold this specific building, not just because “presale pricing” sounds like a deal. A deal on a building you do not actually want is not a deal.

Why the Land Constraint Drives Everything

Miami Beach is a barrier island. It is roughly seven miles long and less than a mile wide in most places, hemmed in by Biscayne Bay on one side and the Atlantic on the other, with height limits and historic preservation districts covering large stretches of South Beach’s Art Deco district. That geography is why every project on this list required a developer to assemble multiple parcels, in some cases buying out several older buildings on one block just to get a footprint big enough to build on.

This is fundamentally different from new construction in western Broward or Palm Beach County, where a builder can plat out a 300-home community on raw land. In Miami Beach, the “community” is one tower, the unit count tops out in the low hundreds at best, and once it sells out, there is no phase two. That scarcity is the actual argument for buying new construction here over waiting for the next thing to come along. There may not be a next thing on a given block for another decade.

For a full picture of what living on the island is actually like day to day, beyond the buildings themselves, our guide on life in Miami Beach covers restaurants, culture, and what a normal day looks like across these different pockets of the island. And if schools are part of your decision, we cover the district and private options in Miami Beach schools guide for parents.

Who Should Buy Presale, and Who Should Buy Delivered

Presale makes sense if:

• You have a multi-year time horizon and do not need to occupy or rent the unit immediately
• You want the lowest entry price into a specific building or submarket
• You are comfortable with construction risk and a contract that locks up deposits for years
• You are buying as an investment and plan to hold through delivery and beyond

Delivered new construction (Five Park, 72 Park) makes more sense if:

• You want to see and touch the actual unit before you commit
• You need to move in on a normal closing timeline, not a multi-year wait
• You are financing with a mortgage and want certainty on underwriting today, not a rate environment years from now
• You are a first-time buyer on the island and want to reduce the number of unknowns in an already unfamiliar process

Neither approach is automatically better. It depends on your timeline, your risk tolerance, and whether you are buying a home or an investment. For a deeper look at how new construction on the island pencils out as an investment specifically, including rental flexibility and what the numbers look like across these buildings, see our Miami Beach investment property guide.

Association Fees and Ownership Costs to Budget For

New construction condo buildings in Miami Beach, especially ones with beach clubs, private dining, and concierge service like The Perigon or the branded Shore Club Residences, carry substantial monthly association dues. These fees fund staffing, reserves, insurance, and amenity upkeep, and they are a real cost that should factor into your budget the same way property taxes and insurance do. Florida’s post-Surfside reserve funding requirements mean newer buildings are generally better funded than older ones on this front, which is worth factoring in if you are comparing new construction against resale inventory in an older building. Ask for the actual budget and reserve study before you sign anything, not just the marketing estimate.

Flood insurance and windstorm coverage are also non-negotiable costs on a barrier island. New construction is built to current hurricane codes, which generally means better insurability than a building from the 1960s or 1970s, but you should still get real quotes before you assume a number.

Where This Leaves You

If you want in on new construction in Miami Beach right now, your realistic options are: buy delivered inventory at Five Park or 72 Park and close on a normal timeline, try to get into the last available units at The Perigon before it fully sells out, or get into presale at 72 Carlyle or The Shore Club Residences and accept a multi-year wait for a lower basis. There is no fourth option hiding somewhere else on the island. Land constraints mean the pipeline you see today is close to the pipeline that will exist for the next several years, aside from these five projects working their way to completion.

For the bigger picture on where Miami Beach real estate stands overall, pricing trends, and how this new construction activity fits into the resale market, our Miami Beach market update for mid-2026 covers that ground. And if you are still deciding whether Miami Beach is the right move at all versus another part of the metro, start with our complete guide to Miami Beach or the broader relocation guide.

The reality is that new construction on this island is not a volume business anymore. It is a handful of specific buildings, each with its own timeline, price point, and risk profile. Make wise decisions about which tier fits your situation, verify the contract terms instead of the sales pitch, and treat delivery estimates as estimates. If you want to walk through any of these five buildings specifically, DM me and I will send you the current availability and pricing on whichever one fits your budget.

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