Villa Miami

Villa Miami sits at 710 Northeast 29th Street in Edgewater, planned as a 55-story tower with 70 residences — a low unit count for that height, which tells you the floor plates are built for size rather than volume. Unit sizes run from 2,936 square feet up to 15,000 square feet, and prices span $5 million to $55 million. This is a full-floor or near-full-floor building at the top of that range.

The architect of record is ODP Architects, with interiors by Charles & Co. Construction financing is in place: a $285 million loan from Tyko Capital, which is a real and recorded number, not a projection. Status is under construction, with completion targeted for 2026 and closings projected for 2027.

What is not in the record is who is developing it. The project data supplied to us lists the developer field as null. We are not going to guess. If you are underwriting this deal, that single blank is worth resolving before anything else in this report, because track record, delivery history, and litigation exposure all attach to a developer entity — and we cannot evaluate what we cannot name.

Sales pace is also unpublished — we have no percentage-sold figure, so we cannot tell you whether this is a building that is filling up or one that is moving slowly at the top of the market.

Residences range from 2,936 to 15,000 square feet, priced from $5 million to $55 million. No price-per-square-foot figure is published, so you cannot benchmark this building against Edgewater comps from the data alone — you would need to work that out unit by unit from asking prices.

Two deposit schedules appear in the record, and it isn't clear which governs your contract, or whether both apply to different unit types. The standard schedule reads 10% at signing, 10% at 90 days, 10% at six months, 10% at twelve months, and the 60% balance at closing. A second, alternative schedule adds two more 10% construction deposits — one at groundbreaking, one at top-off — which would push total pre-closing deposits well past 40% if stacked onto the first schedule rather than replacing it. Get this in writing before signing anything.

HOA dues are not published. Rental policy — whether short-term rental is permitted, restricted, or barred outright — is not published either. If income flexibility or eventual leasing matters to your plan for the unit, you will need to obtain that in writing from the developer, because it is not in any disclosure we have access to.

In short: the headline numbers (size, price range, floor count) are solid. Almost everything that determines your actual carrying experience — dues, rental rights, per-square-foot positioning — is currently absent from the public record.

The developer's name is not published in the data available to us for Villa Miami. That is itself a fact worth sitting with: for a project asking $5 million to $55 million per unit, the identity of the entity taking your deposit is basic information, and it is missing from this record.

We do have one litigation entry on file, and its scope is marked as pertaining to the developer rather than to Villa Miami as a project. It concerns Champlain Towers South and the neighboring Eighty Seven Park development — a consolidated class action brought by survivors and families of Champlain Towers South victims against Terra Group, Terra World Investments, 8701 Collins Development LLC, and related entities, alleging that excavation and pile-driving for Eighty Seven Park weakened the adjacent Champlain Towers South building. The Champlain Towers South Condominium Association, through its receiver, filed cross-claims making similar assertions.

That litigation concluded in mid-2022 with a settlement of close to $1 billion, of which Terra-affiliated entities reportedly contributed approximately $400 million. There was no admission of liability, and the defendants denied the claims throughout.

We want to be precise about what this does and does not tell you: this litigation concerns a different building — Eighty Seven Park — and a catastrophic structural failure at a third, unrelated 1980s condominium next door to it. It has no bearing on construction quality, structural work, or legal exposure at Villa Miami. We are including it only because our evidence tags it as concerning the developer entity, and because rule requires us to disclose developer-level litigation regardless of which project it touches — while being explicit that it does not reflect on this building. Beyond that one record, we have no data on this developer's delivery history, average construction delays, or count of prior completed projects.

The carrying-cost score of 6 out of 10 is built mostly on absence, not evidence. HOA dues are not published, so that component was scored at the category midpoint — treat it as a placeholder, not a favorable signal. The one concrete positive: this is new construction, so there is no SB-4D milestone structural inspection due within the next ten years, which is a real cost Florida owners in older buildings are currently absorbing.

Deposit protection scores 2 out of 10, and this is the number that should get your attention. Florida law only requires escrow of the first 10% of a purchase price. Everything beyond that is a matter of individual contract terms, not statute. In the standard schedule shown for Villa Miami, 60% of the purchase price is due at closing — meaning a substantial share of your money is committed on the developer's promise and the construction timeline, not held in a protected account by law.

We do not have the deposit_escrow_pct field for this project, meaning we cannot tell you whether the developer here escrows more than the statutory minimum, which some Miami developers do voluntarily to attract buyers. That is a direct question to put to sales counsel before signing: ask specifically what percentage of deposits is escrowed, and get it in the purchase contract, not the sales brochure.

Villa Miami is at 710 Northeast 29th Street in Edgewater — that much is confirmed address data. The location score of 6 out of 10 was generated with no underlying inputs at all: no protected-view designation, no data on adjacent towers planned or permitted, no FEMA flood zone classification, no transit walk-time figure. Every one of those fields is listed as missing.

That matters because Edgewater is a corridor where sightlines and adjacent construction can change meaningfully between a 2024 rendering and a 2027 closing. Without permit data on what's approved or under construction on adjacent parcels, we cannot tell you whether the view this building is selling today is durable.

Treat the location score as neutral by default rather than as an endorsement of the setting. It is a 6 because nothing negative was on record — not because anything specific was verified as positive.

The single largest risk here is disclosure itself: 20 of 25 data fields in this project's record are unverified or missing, against 5 verified. That includes the developer's name — not a minor field for a $5 million minimum purchase.

The deposit structure is the second concern. Two different schedules are on file, one of which would place more than 40% of the purchase price into deposits before closing with no confirmed escrow beyond Florida's statutory 10%. Until you have contract language specifying which schedule applies and what percentage is escrowed, this is the most financially exposed part of the deal.

Third, there is no sales-pace data. Percentage sold is unpublished, so we cannot tell you whether demand at this price point is holding up or whether the building is moving slowly — a material fact for a 70-unit tower at these prices, where absorption is naturally slower than a 300-unit building and worth tracking closely.

None of this means something is wrong at Villa Miami specifically — there is no litigation, no reported delay, and construction financing is confirmed in place. The honest read is that the file is thin, not that it is alarming, and a buyer at this price point should not accept 'thin' as sufficient.