Affordable condo project to rise in Edgewater

Miami /
Nov.November 06, 2014 02:15 PM

Edgewater is set for a new condo project with a focus on smaller units at more affordable prices.

Stripey Developments and 4R Development are partnering on 26 Edgewater, a 10-story project with 86 units, according to the South Florida Business Journal. The developers picked up the 20,000-square-foot site, located at 321 Northeast 26th Street, for $2.4 million in early 2014.

The project will break ground in December and be completed in mid-2016.

Fifty-eight of the units will be one bedrooms, sized at 560 square feet and costing $270,000. The remaining 28 units are two bedrooms and range from 810 to 980 square feet, with prices averaging at $340,000.

“The main idea is to keep these units affordable to people,” said Rafael Velasquez of Sunset Realty Group in Miami, who is marketing the project. “It is for the international investor who wants future income without investing that much capital up front.” [South Florida Business Journal]Christopher Cameron


Related Articles

arrow_forward_ios
Residential sales fall in Southern Florida
Residential sales fall in April across South Florida
Residential sales fall in April across South Florida
Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Unit 6A at 3315 Collins Avenue with Arvind Sanger (Redfin, PrathamUSA)
Hedge funders make a deal: Faena House condo trades for $15.5M
Hedge funders make a deal: Faena House condo trades for $15.5M
PR Group Florida's Christophe Petit and Julien Ridon and Octavio Maza with 423 Northeast 27th Street (Vendôme Capital, Porosoff Group, Google Mpas, iStock)
Vive la Miami: French developer acquires Edgewater site for $15M for first U.S. project
Vive la Miami: French developer acquires Edgewater site for $15M for first U.S. project
Sarah and Shaya Boymelgreen with a rendering of 42 Pine (Getty, 42 Pine)
Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
Edgardo Defortuna and Claudio Cordero with rendering of Bay Harbor Islands (Ambienta Developers, Revuelta Architecture International, iStock)
Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
South Florida by the numbers: Miami developers stay nimble
South Florida by the numbers: Miami developers stay nimble
South Florida by the numbers: Miami developers stay nimble
Rendering of Two Roads Development’s planned 3-tower redevelopment of the Biscayne 21 condo property in Miami with Taylor Collins of Two Roads Development (Two Roads Development)
Two Roads plans bulk purchase of bayfront Miami condo building, to replace with luxury towers
Two Roads plans bulk purchase of bayfront Miami condo building, to replace with luxury towers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...