619 Brickell Pricing & Deposit Structure

The complete breakdown of pricing, Friends & Family rates, and payment milestones for 619 Brickell by Nobu Residences. Understanding the deposit structure and payment timeline is crucial before committing to a pre-construction investment. This article explains exactly how payments flow from reservation through September 2030 closing, and what financing options are available.

Why Pricing Matters at This Stage

We're still in pre-sales / Friends & Family pricing phase at 619 Brickell. This means early buyers—investors and owner-occupants who commit now—secure units at rates materially below what the project will offer at public launch. The discount is typically 10-15%, depending on unit type and floor location.

Once the project transitions to public sales (typically 60-90 days from initial Friends & Family offering), prices climb. Once construction is underway or nearing completion, prices climb again. The Friends & Family window is finite. If you're serious about this investment, timing matters.

Unit Type Pricing Overview

Here's the current Friends & Family pricing by unit type. Note that these are ranges—exact pricing depends on floor, view, and feature set.

Key observation: Price per square foot is roughly consistent across unit types ($2,350–$2,900/SF), which means you're paying a location and lifestyle premium relative to the base architecture and finishes, not a size penalty. The 1-bed+den is actually the most efficient entry point per square foot.

The Deposit Structure: Timeline & Percentages

Here's the payment waterfall. Each milestone has a specific purpose—the developer uses these funds to cover pre-construction costs, land costs, construction draws, and closing coordination.

Milestone 1: Reservation ($25,000)

You put down $25K to reserve your unit. This goes into an escrow account and is applied toward your 10% contract payment later. The reservation secures your unit number, floor, and price for a defined period (typically 14-21 days) while you review documents and arrange financing.

Milestone 2: Contract Signing (10% of Purchase Price)

Once you sign the purchase agreement, 10% of the full purchase price is due. For a $3.5M unit, that's $350,000 minus the $25K reservation = $325,000 additional. Your $25K reservation is applied to this amount.

This is when you commit legally. The contract is binding. In exchange, your unit is locked, and you move into the financing and contingency period.

Milestone 3: 90-Day Mark (5% additional)

At the 90-day mark from contract signing, another 5% is due. For that $3.5M unit, it's $175,000. This is a relatively modest payment designed to maintain forward momentum on the transaction.

Milestone 4: Groundbreaking (15% additional, April 2027)

When the developer breaks ground on construction—expected April 2027—another 15% comes due. That's $525,000 for the $3.5M unit. This is the most substantial payment and is typically covered by construction financing if you've arranged a pre-construction loan.

Milestone 5: Top-Off (10% additional, December 2028)

As the building approaches structural completion (typically 50-75% of construction done), the 10% "top-off" payment is due. Expected December 2028. Another $350,000 for our example unit. At this point, the building is visibly complete, and buyer confidence is highest.

Milestone 6: Closing (60% final, September 2030)

At final closing in September 2030, the remaining 60% balance comes due. That's $2.1M for the $3.5M unit. By this point, your mortgage is in place (assuming financing), and you receive the keys.

Payment Timing & Your Cash Flow

One advantage of this structure is that payments are spaced over 4.5 years, not all upfront. Let me break down realistic cash flow for a $3.5M purchase:

• Year 1 (2026): Reservation ($25K) + Contract ($325K) + 90-day payment ($175K) = $525K total out-of-pocket
• Year 2 (2027): Groundbreaking payment ($525K) = $525K
• Year 3 (2028): Top-off payment ($350K) = $350K
• Year 4 (2030): Closing payment ($2.1M) = $2.1M

If you're financing, your construction loan typically covers the 15%, 10%, and 60% payments, meaning you're out-of-pocket only the 10% + 5% upfront ($500K), and then leveraged for the remainder.

Compare this to buying a finished condo where you're writing a check for 20-30% down immediately. The pre-construction financing structure gives you time and flexibility.

Financing Options for Pre-Construction

Construction Loan (Most Common)

Jumbo lenders offer construction loans at 60-70% LTV on pre-construction projects in this segment. The loan floats at prime + 2.5% during construction, and converts to a fixed-rate mortgage at closing. Monthly interest-only payments begin either at closing or 6 months prior (depending on lender).

To qualify: You need proof of funds for the 10% + 5% deposits, good credit (720+), and stable income or assets (W-2, 1099, or liquid assets). International buyers typically use proof of funds + passport.

All-Cash (Second Most Common)

Some investors and ultra-high-net-worth buyers write checks from day one. No financing means no floating rates, no lender contingencies, and clean title transfer. You give up the leverage benefit but avoid rate risk.

Bridge Financing (Less Common)

If you're selling another property to fund the purchase, some lenders offer short-term bridge loans to cover deposits while awaiting the sale. Less common at this price point but available.

Home Equity Line (HELOC)

If you own another property with equity, a HELOC can provide the deposit funds. Post-closing, you refinance with a permanent mortgage. Bridges the timing gap without waiting for permanent financing.

Understanding Price Per Square Foot

One way to evaluate 619 Brickell against comparable projects is price per square foot. We're currently at $2,400–$2,900/SF depending on unit size and floor. Here's how that stacks up:

• Mandarin Oriental Residences: Pre-sales $1,800–$2,200/SF. Now trading $2,800–$3,500/SF at resale (40-65% appreciation).
• St. Regis Residences: Pre-sales $2,000–$2,400/SF. Now trading $3,200–$4,800/SF at resale (45-80% appreciation).
• Dolce & Gabbana Residences: Pre-sales $2,200–$2,700/SF. Now trading $3,800–$5,200/SF at resale (55-90% appreciation).
• 619 Brickell (now): Friends & Family $2,350–$2,900/SF. Expected at public launch $2,700–$3,300/SF.

The pattern is clear: early Friends & Family buyers secure units at 15-20% discounts to public pricing, and then see 40-80% appreciation to resale. 619 Brickell follows this playbook.

What's Included in Your Price?

The purchase price covers the unit, interior finishes, and your proportional share of common areas. What's included:

• Interior: Kitchen, bathrooms, flooring, wall finishes, smart home wiring, HVAC, windows
• Common Areas: Lobby, elevators, hallways, fitness center, pool, spa, wellness center, restaurants, bars
• Parking: 1-2 parking spaces per unit (depending on unit type)
• Building Infrastructure: Construction, structural, MEP (mechanical, electrical, plumbing)

What's NOT included: property taxes, homeowners association fees (HOA), property insurance, utilities, optional services (chef, concierge, personal training).

HOA Fees (Estimated)

Once the building opens, monthly HOA fees cover building operations, maintenance, insurance, and staff. For a luxury building of this caliber, expect $1,500–$2,500/month for a 2-bed, and $2,500–$4,500/month for a 3-bed or larger. These are estimates; the developer provides official pro forma HOA budgets.

HOA fees are not locked at closing—they adjust with costs over time. In Miami's inflationary environment, expect 3-5% annual increases.