South Beach Pre-Construction Condos 2026

South Beach needs no introduction — Ocean Drive, the Art Deco district, Lincoln Road — but its new-construction story is younger than its reputation. After a decade in which almost nothing rose, the world's great hotel brands are building residences here simultaneously — Rosewood, Auberge, Ritz-Carlton — while Faena extends its universe to ownership on the Miami River, with pricing from $1.3M to $50M and trophy product commanding $4,500–$11,000 per square foot. South Beach condo sales showed strong momentum through 2025, posting some of the sharpest quarterly gains of any Miami Beach submarket — and the pipeline is a major reason.

New-Construction Developments & Pricing

Shore Club Private Collection — 49 oceanfront residences at 1901 Collins Avenue from $6M ($4,500–$11,000/SF), Witkoff and Monroe Capital developing, Auberge Resorts operating, delivery targeted 2027. The rarest count on the beach: 49 keys on a full-block oceanfront site.
The Raleigh, a Rosewood Hotel & Residences — 44 ultra-luxury residences within the restored 1940 Raleigh at 1775 Collins Avenue, with three-bedroom residences from $10M, delivery targeted 2027–2029. Art Deco landmark outside, Rosewood inside.
The Ritz-Carlton Residences, South Beach — approximately 30 residences at 1671 Collins Avenue from $4.25M, developed by Flag Luxury Group's SOBE Sky Development, delivery targeted 2027–2028.
Faena Residences Miami — the Faena universe comes to ownership: twin towers rising up to 68 stories on the Miami River, minutes from the beach, from $1.3M, delivery targeted toward the end of the decade. Sean Paul Donnarumma is an official Faena partner — clients get first access.
Five Park Miami Beach — the neighborhood's delivered benchmark (519 feet, 226+ residences), now trading on resale from ~$1.2M, with penthouse sales from $17.5M to $19.5M.
The Alton (proposed) — 184 residences at Alton Road and West Avenue, currently in rezoning review — the next watchlist entry.

Who Buys in South Beach?

South Beach attracts Miami's most lifestyle-driven trophy buyer: entertainment and media principals who work where they live; New York and European seasonal families for whom SoFi is the winter address; hotel-brand loyalists who already stay Rosewood and Auberge everywhere else in the world; art and design collectors anchored to the Faena District and the Bass; and first-generation Miami buyers entering through Five Park's Park Residences. The common thread: nobody buys South Beach for yield alone — they buy it because no substitute exists.

The Investment Angle

South Beach is Miami's most resilient luxury market, full stop. The barrier-island land constraint is absolute, the hotel-brand pipeline is the strongest in the city, and the 2025 sales data confirms momentum. The investment logic runs in tiers. At entry, Five Park resales at a median above $2,200/SF offer immediate ownership in a proven annual-lease market. In the middle, Faena's end-of-decade delivery at $1.3M entry is the last sub-$2M access point to a branded Faena residence — rising on the Miami River, minutes from the beach. At the top, Shore Club and The Raleigh are collector assets where 49 and 44 residences respectively create scarcity pricing that historically ignores market cycles. The penthouses at Five Park closed at $17.5M–$19.5M — evidence of what the top of this market does when product is genuinely scarce.

EB-5 & International Buyers

South Beach is where EB-5 families most often want to live while their petition is underway. Note that the EB-5 program requires an $800K investment (in a targeted employment area; $1.05M standard) into a job-creating enterprise — a personal residence purchase, whether Faena Residences from $1.3M or a branded hotel tower, is separate from, and does not itself constitute, the qualifying investment. The neighborhood's two decades of foreign-buyer infrastructure — multilingual closing attorneys, international escrow, private banking — makes remote acquisition routine. Sean Paul Donnarumma, an official Faena partner who works alongside licensed EB-5 immigration counsel, structures the home-purchase sequence: project selection, immigration counsel coordination, deposit staging, and closing — in English, Spanish, or Italian.

Questions Buyers Ask

What is the cheapest way into new South Beach product?

Faena Residences from ~$1.3M (on the Miami River, end-of-decade delivery) for pre-construction; Five Park Park Residences from ~$1.2M on resale for immediate use and income. Everything else in the new pipeline starts above $4M.

Why are the new towers so expensive per square foot?

Scarcity and brand. Roughly 30 to 50 residences per tower, full-block oceanfront sites, and operating brands (Rosewood, Auberge, Ritz-Carlton) that studies show command premiums of around 25–35% over non-branded peers globally. These are collector markets, not commodity markets.

Can I rent short-term in South Beach?

Miami Beach prohibits short-term rentals in most residential zoning districts, and new-generation trophy towers typically restrict to longer minimums — verify each building's rules before underwriting. Five Park and Faena follow branded program rules. Underwrite these as annual-lease or personal-use assets.

Is South Beach only seasonal?

No — SoFi in particular is a year-round residential neighborhood with schools, parks, and a strong primary-resident base. The seasonal glamour is real, but so is the full-time community underneath it.

When do the current projects deliver?

Shore Club targets 2027; The Raleigh targets 2027–2029; Ritz-Carlton South Beach targets 2027–2028; Faena Residences targets the end of the decade.

Get the South Beach pricing sheet — Shore Club, The Raleigh, Ritz-Carlton, and Faena with floor plans and deposit schedules.

South Beach Pre-Construction: The Trophy Pipeline South of Fifth