As travel restrictions are lifted, foreign buyers have started to return to Miami’s luxury real estate market, adding another layer to already searing demand in South Florida. In the latest example of this international comeback, Melo Group, the developer behind Aria Reserve, a luxury double-tower condominium development located on five acres of waterfront land in Biscayne Bay in Miami’s Edgewater enclave, has pre-sold more than 60% of its 383- Residence South Tower in less than six months since its commercial launch in the summer of 2021. About half of the tower buyers come from national markets across the country, with a number almost equal to international buyers.
The 62-story towers of Aria Reserve will mark the tallest double-tower waterfront residential development in the United States. Construction of the project’s south tower is expected to begin in early 2022, with completion scheduled for 2024.
“When we launched sales to Aria Reserve over the summer, the majority of our buyers were from the domestic market – New York, California, Boston,” said developer Carlos Melo, co-principal of The Melo Group. “While we are still seeing an incredible amount of domestic demand, we are now seeing some competition from overseas as international buyers return to the market. Buyers from Latin American countries like Mexico, Colombia, Argentina, Chile and Peru are moving to Miami following the implementation of Covid-19 vaccines, continued political instability and a recent increase in international tourism. “
The Aria Reserve Residences will feature immaculately finished units with one to four bedroom floor plans measuring between 1,100 and 2,600 square feet. A limited collection of penthouse residences, ranging from 3,500 to over 9,000 square feet, each with its own unique personal safe for three cars – including five three-level penthouse mansions will also include private rooftop terraces with swimming pools and summer kitchens. The price of residences ranges from around $ 850,000 to over $ 2 million, and up to $ 12 million for penthouses.
Each residence will feature two private or semi-private elevators, a dedicated office / den, ceilings at least 10 feet high and open layouts with expansive decks up to 11 feet deep offering stunning sunset views. sun to the west and a view of the bay and ocean to the east.
“Buyers are drawn to our waterfront location and abundance of amenities,” said Martin Melo, co-director of the Melo Group. “With a two-acre resort-style terrace, housing an indoor / outdoor wellness center, a variety of sports fields and several swimming pools for the whole family, as well as spacious residences and some of the best views of the bay and ocean in Miami, Aria Reserve is aimed at end buyers looking to enjoy the city’s cosmopolitan lifestyle.
Aria Reserve was architecturally designed by Bernardo Fort-Brescia from Arquitectonica, with interiors from MORADA Haute Furniture Boutique and lush landscaping from ArquitectonicaGEO.
The development will include more than two acres of amenities, with exceptional features including a semi-Olympic-sized swimming pool and hot tub, a children’s wading pool, a playground, a teens lounge and games center, a theater, tennis courts, basketball courts, paddle courts, golf putting green and indoor / outdoor wellness center with spa / steam room / sauna facilities, massage rooms, a State-of-the-art gym, yoga lounge and meditation garden.
The building will also include a 25-foot dual-level lobby, waterfront restaurant and cafe, two swimming pools and an additional lounge with two Jacuzzis and poolside lounge chairs, fire pit, a dog park and a telescope viewing area overlooking the bay. Residents will also have access to a custom designed water sports dock with paddle boards, kayaks and inflatables available.
On the ground floor along 23rd Street, Melo Group is developing a public park with an open green space that will connect to the Miami Baywalk, providing direct access to the 5 mile long pedestrian and cycling waterfront promenade. which runs along Biscayne Bay from Edgewater, around Brickell Key, and up to Brickell Bay Drive in Brickell.
Located along the bay just north of downtown Miami, nestled between the Venetian and Julia Tuttle Causeways – the two main arteries connecting the city of Miami and Miami Beach – Edgewater has quickly become the epicenter of the new Miami. The surrounding neighborhoods of the Downtown Arts and Entertainment District, Miami Design District, Wynwood Arts District, Midtown Miami, and Miami Beach place residents near dozens of upscale shops, restaurants upscale and world-class artistic and cultural venues.
Aria Reserve benefits from the development expertise of the Melo Group, one of South Florida’s leading residential development companies with a portfolio of over 6,000 luxury condominiums and high-end multi-family units completed in the greater downtown area. city of Miami. The company is one of downtown Miami’s largest long-term investors and landowners, having found success investing in prime real estate early and building for market demand. Over the past two decades, Melo has delivered over a dozen residential towers in the Miami CBD, Edgewater, Miami River, and Arts & Entertainment District neighborhoods.