The Real Deal Miami

Aria on the Bay now 50 percent under contract

Melo closed on a $95M construction loan in August

October 12, 2015 02:15PM

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Aerial rendering of Aria on the Bay in Edgewater

Aerial rendering of Aria on the Bay in Edgewater

The Aria on the Bay condominium is now 50 percent under contract, the Melo Group announced on Monday.

Buyers at the 648-unit tower are primarily from South America – including Venezuela, Brazil and Argentina – and from the United States, according to a spokesperson. Buyers are also from countries such as China, Austria, France and India.

The 53-story tower, at 1770 North Bayshore Drive in Miami’s Edgewater neighborhood, is slated for completion in late 2017. Prices range from $400,000 to more than $12 million.

In August, the developer closed on $95 million in construction financing for Aria on the Bay.

Cervera Real Estate is the project’s exclusive sales and marketing brokerage. Amenities will include a 14th floor amenity deck, four swimming pools, fire pits, outdoor summer kitchens, a spa, gym, yoga studio and theater, according to the press release. It will also feature 20,000 square feet of commercial space on the ground and lower floors.

Other projects in the area include Biscayne Beach, Elysee, Spark, Bay House, Icon Bay and the Crimson. – Katherine Kallergis

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