Miami Condo Market and Lifestyle Updates
Miami Beach’s Peloro Luxury Condos Quickly Reaches Reserve Limit

Miami Beach’s Peloro Luxury Condos Quickly Reaches Reserve Limit

by Sep Niakan | April 26, 2013

Though sales have only been offered since the end of November for units in the Peloro residential condominium tower, the 118-unit project nearly reached its reserve limit ahead of opening up for hard sales contracts earlier this month. Peloro is positioned in mid-Miami Beach, unlike other projects like Ocean House and MyBrickell, offering residents a much quieter location but not far from booming areas such as Bal Harbour and Sunny Isles. Funded by the family of the late Roy Disney, Peloro is one of two projects in Miami Beach bankrolled by Disney; the other being the 50-unit Palau at Sunset Harbour.

Designed by renowned Latino architect Luis Revuelta, the project will begin its construction phase during mid-year 2013 after the demolition of the bay front wall running across Collins Avenue. Price points at the Peloro start at around $500 per square foot in an area where many locations are now north of $1,000 per square foot and rising. On deciding for a location in Mid-Beach, Peloro Managing Partner Greg Martin commented:

“With the development that’s going on right now, there’s a big uptick in Miami Beach, and huge energy. It’s important to be an early mover.”

What do you think? Are projects like Peloro the start of a new wave of condo developments that will thrive into the future, or is real estate primed for another thrashing vis-à-vis the 2008 market crash? Share your opinion about the Peloro and the Miami real estate market in the comments section below.


Recent posts


7 Must-Do Pre-Halloween Events

by Sep Niakan | October 13, 2016

I know Halloween’s around the corner and it’s a given it will be the highlight of everyone’s social calendar. Miami’s Fall calendar is full of exciting events and here’s the low-down on how you can enjoy the run up to...

Real Estate News

With Approved 960-Foot Brickell Market Place, a Headache for Brickell Heights?

by Sep Niakan | September 27, 2016

Claro Development’s latest at 10 SW 8th Street is going to be a tall order, literally! Fresh-approved by the FAA, the Brickell Market Place is set to rise up to 954 feet above ground, or 960 feet above sea level. Approved after a seven-month...

Real Estate News

An Edgewater Miami Hotel Joins the Micro-unit “Tiny Homes” Trend

by Sep Niakan | September 26, 2016

Come year-end, Miami’s Edgewater neighborhood will be home to one of Best Western International’s first boutique hotel brand offerings - Vib. Best Western’s chosen only 20 key urban markets (including Miami) across North America to...

Real Estate News

Skyrise Miami: Future Tourist Destination and Hard Pill to Swallow for Miami Locals

by Sep Niakan | September 23, 2016

The Berkowitz Development Group, describes SkyRise as their “abstract version of the Statue of Liberty”. Approved in 2014, this R-shaped structure is being built in tandem with the revitalization of Bayside Marketplace. The tower will be...