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Standard Miami

Cashflow In Miami
December 6, 2021

Is Standard Miami Fully Booked?

Northeast First Avenue and Northeast 32nd Street, Midtown.

Developer Carlos Rosso of Rosso Development is partnering with Alex Vadia’s Midtown Development and Standard International to build the 12-story, 228-unit condo project. Its  being designed by Arquitectonica and Urban Robot.  It will be across from a Trader Joe’s that is under construction, and south of the Midtown staple Sugarcane. Condos will range from 432 square feet to 965 square feet. The studios to two-bedrooms units will range in price from $329,000 to $829,000 initially.

The deposit structure calls for 10 percent at reservation, contract and groundbreaking for a total of 30 percent; then 10 percent six months later; another 10 percent at top off; and the remaining 50 percent owed at closing.

Unit owners will be able to rent their condos for a minimum of 30 days. Residents will have access to the Standard’s “Friends with Benefits” program that gives them pricing perks at other Standard properties. Hotel will have  35,000 square feet of amenities that will be part of the project, including a large lobby with lounge areas and a cafe, a rooftop restaurant and bar similar to the Lido Bayside Grill at the Miami Beach hotel. Additional amenities include a 60-foot resort-style pool, a sweat room and fitness center, indoor pickleball court, yoga and stretch studios, a karaoke bar, pet spa and more. The indoor pickleball court will be convertible into a party room. The building will also have about 10,000 square feet of retail space that The Standard will select.

Construction is set to begin next year and is expected to be completed by the middle of 2023. Vadia’s Midtown Opportunities VIIIB LLC owns the property at 3100 Northeast First Avenue, as well as the air rights over the existing adjacent garage. Because the building will attach to the garage, the homeowners’ association fees will be lower than other condo buildings in Midtown.

Contact me if you are interested to obtain unit or two, they wont last:)

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