Downtown’s Aria on the Bay condominium is delivered
Chances are you’ve seen the brand new, 53 story, 648-unit condo high-rise, Aria on the Bay, in the downtown Miami skyline.
The Melo Group’s newly completed masterpiece is nearly sold out. Carlos and Martin Melo said the group is projecting a $500 million sellout for the complex at 1770 North Bayshore Drive with 90 percent of the units sold to buyers from 43 different countries. Closings began in early May. Rapper Timbaland and former Miami Marlins outfielder Giancarlo Stanton are among the high-profile buyers.
The developer broke ground in 2015 with units going up for sale immediately after with Cervera Real Estate. Two years later, when the complex hit 80 percent sold, Melo lowered the deposit requirements from their standard 50 percent to 35 percent.
The beautiful Margaret Pace Park sets the scene for Aria on the Bay, and is near Miami’s Edgewater and Arts and Entertainment neighborhoods providing a suitable living environment for those who can afford it.
The remaining units for sale range from the $400,000s to $1.8 million and feature one to four bedrooms. Aria features an amenity deck on the 14th floor with sunrise and sunset-facing pools, a Jacuzzi, grills, and lounge areas. Other perks include a spa, fitness center, yoga studio, bar and lounge, screening room, game room, business center and more. Bernardo Fort Brescia’s Arquitectonica designed the tower.
Melos revealed nearly 11,000 square feet of commercial space on the lower floors which are available for lease or sale. The developer presold 3,000 square feet of retail space for $8 million, but the deal has not yet closed.
Melo is also gearing up for their grand opening of Square Station Apartments, a 710-unit rental development nearby at 1424 Northeast Miami Place, in June. Apartments at the two-tower project will range from nearly $1,500 a month to $2,700.