152 fully furnished residences at 94 NE 29th Street, priced from $550,000 to $2.4 million, with completion anticipated in the second half of 2027. This is the attainable end of Miami's new-construction pipeline.
Construction topped off on The Rider Residences, a 12-story condominium at 94 NE 29th Street in Wynwood, Florida YIMBY reported on September 15. The building will yield 152 fully furnished units. Residences are priced from $550,000 to $2.4 million, sales have reached 50 percent with buyer interest from Europe, South America, California and New York, and completion is anticipated in the second half of 2027.
Put that entry price next to the resale market and the picture gets clearer. The Miami-Dade condo median was $400,000 in July with 125 days on market and roughly 12 months of supply. New construction does not price off that number, and it should not be compared to it directly. But $550,000 for a delivered, furnished studio in Wynwood is the narrowest gap between new and resale that I have seen quoted on a Miami preconstruction project this year.
This is the most realistic new-construction pitch I can make to a first-time Miami investor right now, and I still would not sign anything on the press release. A furnished delivery means no build-out budget and no six weeks of waiting on furniture before the unit can produce income, which is a real advantage over buying a shell. What is not in any article, and what I would demand before a deposit, is three things: the projected monthly carrying cost including the association budget and taxes, the building's actual rules on rental terms, and exactly what the furniture package includes in writing inside the purchase contract. Those three numbers decide whether $550,000 in Wynwood works, and none of them are public yet. One more caution. Fifty percent sold is a sales number, not a closing number. Contracts at this stage are deposits, and the meaningful test comes at delivery in the second half of 2027 when buyers have to qualify and fund.
I will send you the deposit schedules, carrying costs and rental rules side by side before you commit to one.
See the pipeline →Cover photography: Creative Commons / public domain — photo credits.
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