How To Evaluate Pre-Construction Condos In Brickell

Thinking about locking in a pre-construction condo in Brickell? With so many cranes on the skyline, it can feel exciting and overwhelming at the same time. You want the lifestyle and potential upside, but you also want to buy with clear eyes and strong protections. This guide gives you a simple, step-by-step way to evaluate any Brickell pre-construction opportunity so you can move forward with confidence. Let’s dive in.

Brickell pipeline: what it means for you

Brickell is one of Miami’s most active condo hubs, with multiple branded and ultra-luxury towers announced and selling. Local trackers note several thousand units slated to deliver over the next few years, including headline names across the neighborhood. That surge can lift quality and amenities, but it also increases near-term supply, which affects absorption and resale timing. Review current delivery timelines using trusted local pipeline updates, such as this midyear Brickell market report.

Step 1: Vet the developer

A strong sponsor is the single most important factor in pre-construction. You are trusting their balance sheet, construction team, and delivery track record.

What to check

• Corporate status and affiliated entities.
• Prior projects, delivery timing, and any notable post-delivery disputes.
• Contractor and GC licensing, and any stop-work or permitting issues.

Where to find it

• Confirm entity details with the Florida Division of Corporations (Sunbiz).
• Search construction or creditor litigation in the Miami-Dade Clerk of Courts public records.
• Verify licensing through the state’s Division of Condominiums FAQs, and confirm local permitting history with the applicable city or county portal.

Step 2: Review the offering and contracts

Florida imposes clear disclosure rules that protect you as a buyer. Before you move past a reservation, you should have the prospectus or offering circular, the escrow agreement, and the form purchase contract.

Key items to confirm

• Is there an offering circular or prospectus, and was the offering filed as required for larger developments?
• What triggers the move from reservation to contract, and when are reservation deposits refundable?
• Are assignment rights allowed, and if so, what are the conditions and fees?

Why it matters in Florida

The Florida Condominium Act (Chapter 718) sets escrow and disclosure rules, including how reservation and early deposits must be handled. The developer’s prospectus should clearly show payment terms, escrow details, and key buyer protections.

Step 3: Map deposits and escrow protections

Your deposit schedule shapes your risk. Understand how much you pay, when you pay it, and whether the money sits in protected escrow or is released to the developer.

What Florida law protects

Under Chapter 718, developers must place payments up to 10 percent of the purchase price into an independent escrow account if construction is not substantially complete. Reservation deposits also must be escrowed and are refundable under statutory conditions. The project’s prospectus should disclose these details. Review the Florida Condominium Act to see the statutory baseline.

Example deposit patterns

Brickell launches often use staged deposits. As a reference point, Baccarat Residences’ published schedule shows a tiered structure with a reservation amount, then 10 percent at contract, another deposit shortly after, a deposit at groundbreaking, and one at top-off, with the balance due at closing. Always compare the required pre-closing total across buildings and confirm what stays in escrow versus what may be released during construction.

Step 4: Confirm construction financing and presales

Most construction lenders require a minimum level of presales before funding large draws. Industry reporting notes typical thresholds in the 30 to 60 percent range, depending on the project and lender. See this overview of presale strategies from Forbes Real Estate Council. Ask the sales team which lender is in place, what presales are required, and whether there is a completion guarantee or surety bond.

Step 5: Protect against title and lien issues

Florida contractors and suppliers who are not paid can record mechanics’ liens. You want clear title at closing, with protections against lien exposure tied to the development.

• Ask title counsel about commitments and endorsements that address construction risks, pending disbursements, and survey matters.
• Confirm that recorded construction loans and required releases reduce lien exposure for unit buyers.
• Review Florida’s mechanics’ lien law context using this Chapter 713 reference.

Step 6: Review HOA budgets, reserves, and inspections

Recent reforms require milestone inspections and structural integrity reserve studies for buildings with three or more stories, on statutory schedules. Associations must disclose these reports and funding plans to owners.

• Request the association budget, projected reserve plan, and any completed engineering or milestone reports.
• Ensure the developer’s plan aligns with the statutory timing for inspections and reserve funding.
• See the current reserve and milestone obligations in Section 718.112.

Step 7: Price with comps and absorption in mind

Study delivered resales near the site, recent price-per-square-foot trends in Brickell, and the building’s release history. Branded and ultra-luxury inventory can command a premium but may face a narrower buyer pool. When several towers deliver together, resale competition can increase. Align your target price with realistic resale timelines and nearby comps in the same tier and amenity set.

Step 8: Verify rental demand and rules

If you plan to rent, check long-stay rent levels and vacancy patterns in Brickell to set realistic pro formas. Short-term rentals are heavily regulated. Florida requires registration for vacation rentals, and local rules in Miami-Dade and the City of Miami add licensing and operating standards. Many condo documents limit lease terms or the number of leases per year. Start with the project’s governing documents and the state’s Division of Condominiums FAQs to understand the framework, then confirm specifics with the association.

Step 9: Plan your closing strategy

Many pre-construction buyers pay sizable deposits before closing and then fund the balance at delivery. Decide early whether you will close with cash or financing, and stress-test your plan for interest rates, appraisals, and timing. In Miami’s high-end segment, a meaningful share of purchases close with cash, which affects appraisal dynamics and market liquidity at delivery.

Brickell risk factors to watch

• Supply concentration. The near-term pipeline in Brickell is deep and brand-forward. Track unit counts and delivery timing using local market updates. This helps you set expectations on absorption and resale competition.
• Association and recertification exposure. New reserve and milestone inspection rules can raise HOA costs over time. Review the building’s plan to comply with Section 718.112.
• Insurance and climate. Flood and wind risks can drive higher building-level and unit-level insurance costs. Keep an eye on Florida’s insurance environment with resources like this guide to Florida homeowners insurance rates, and ask the developer about wind mitigation ratings and expected HOA coverage.
• Short-term rentals. Do not assume you can run short stays. Confirm state registration and local licensing requirements using the Division of Condominiums FAQs, then verify the building’s leasing rules in its governing documents.

Red flags that warrant a pause

• Large portions of deposits are released to the developer without clear protections beyond the statutory first 10 percent. Ask to review the escrow agreement.
• Thin sponsor history, complex webs of affiliates, or ongoing litigation in public records.
• Unusually high pre-closing deposits, especially where total exceeds 50 percent and no completion guarantee is clear.
• No disclosed construction lender or unclear presales threshold. Confirm the lender and conditions, since lenders often require a presales milestone before funding, as noted by industry commentary.
• HOA budgets that underfund structural reserves or no plan for required inspections. Cross-check against Section 718.112.

Quick document and data checklist

Use this list to organize your diligence before you commit:

• Developer prospectus or offering circular, escrow agreement, and form purchase contract.
• Deposit schedule summary showing what is escrowed and what may be released.
• Corporate records from the Florida Division of Corporations (Sunbiz).
• Litigation and lien search via the Miami-Dade Clerk of Courts.
• Parcel and ownership history from the Miami-Dade Property Appraiser.
• Building permits and certificates of occupancy via the local permitting portal.
• Title commitment and list of endorsements proposed for closing.
• HOA budget, reserve plan, and any milestone or engineering reports.
• Comparable sales and current listing set in the immediate walk-shed.

When you have these pieces, you can compare buildings on equal footing and choose the right match for your goals.

Ready to evaluate a Brickell pre-con?

If you want a clear, private path through Brickell’s new development landscape, we are here to help you focus on what matters most and avoid surprises. For tailored guidance and access through Fortune’s development channels, schedule a private consultation with The DeFortuna Group.

FAQs

What should I look for first when evaluating a Brickell pre-construction condo?

• Start with the developer’s track record, financial strength, and licensing. Verify entities on Sunbiz and check public records at the Miami-Dade Clerk of Courts.

How are pre-construction deposits protected in Florida?

• Under the Florida Condominium Act, up to 10 percent must be escrowed if construction is not substantially complete. Confirm in writing how later deposits are handled.

Do most Brickell projects require presales before the lender funds construction?

• Yes, lenders commonly set a presales threshold before advancing large draws; industry reporting cites typical ranges of 30 to 60 percent. Ask the sales team for specifics and lender details, as noted by Forbes.

How do the new Florida reserve and inspection rules affect buyers?

• Buildings with three or more stories must conduct milestone inspections and fund structural reserves on statutory schedules. Review the association’s plan under Section 718.112.

Can I do short-term rentals in a Brickell condo?

• Often no, or with strict limits. State registration and local licensing apply, and many associations restrict lease terms. Start with the building’s governing docs and the state’s Division of Condominiums FAQs.