According to June 2025 statistics, condos in buildings over 30 years old are spending an average of 62 days on the market—significantly less than the 79 days seen in buildings 29 years old or newer. Meanwhile, luxury condominium sales priced at $1 million and up increased by 6.4% year-over-year in June 2025.
With an average of three known luxury residences per individual, these influential homeowners represent significant opportunities across real estate, luxury services and wealth management sectors.
Under the proposed plans, the western portion of the site would be paved to continue supporting those Miami Heat logistical needs. Meanwhile, the eastern section would be transformed into a public space featuring a playground, waterfront promenade, kayak launch, public art installations, and green space.
If finalized, this would mark the largest office sale in South Florida so far this year.
According to documents filed with Miami-Dade County, the proposed headquarters development will feature a 450,000-square-foot office building and is being designed to accommodate an initial workforce of 2,000 employees.
Amazon initially leased 50,000 square feet in January after reports surfaced that the Seattle-based tech giant was looking for up to 80,000 square feet in Miami.
The South Florida condo market is cooling due to rising inventory and shrinking demand. Across the region, sellers are struggling to offload units as prices drop—yet in Miami, condo values are holding steady. However, the market isn’t immune to broader headwinds.
The ordinance, approved on first reading by Miami City commissioners, is intended to help the city align with Miami-Dade County’s rapid transit zoning policies and Florida’s Live Local Act. However, critics described the initiative as favoring developers over neighborhoods.
The deal now places the entire 500,000-square-foot shopping destination under the control of Simon Property Group.
In a newly published interview, billionaire founder of Citadel praised Miami’s energy and outlook.