Three adjacent submarkets. Three different value propositions. Twenty-nine active new construction projects spanning a six-mile stretch of barrier island between the 79th Street Causeway and 104th Street. This report maps the entire corridor and identifies where pricing, absorption, and capital flows signal opportunity.
Bay Harbor Islands, North Bay Village, and Surfside/Bal Harbour share geography but diverge on product type, price band, height envelope, and buyer profile.
Grouped by submarket. Velocity: Fast (85%+ in <3 yrs), Moderate (40-84%), Slow (<40% after 2+ yrs), Stalled (0% after 12+ months).
| Project | Submarket | Developer | Architect | Units | Fl | Size (SF) | Entry | % Sold | Launched | Velocity | Status |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bay Harbor Islands — 18 Projects · ~410 Residences | |||||||||||
Onda ResidencesUltra 1135 103rd St | BHI | CMC / Ugo Colombo | Arquitectonica | 41 | 8 | 1,809-3,523 | $4.9M | 95% | 2021 | Fast | Delivered |
La Baia South E Bay Harbor Dr | BHI | Ian Bruce Eichner | Revuelta | 68 | 8 | N/A | N/A | 100% | 2022 | Fast | Sold Out |
Alana Bay Harbor 9901 W Bay Harbor Dr | BHI | Alta Development | Revuelta | 30 | 7 | 1,229-1,662 | $1.2M | 90% | 2023 | Fast | Closeout |
The Well Bay Harbor 1160 Kane Concourse | BHI | Terra Group | Arquitectonica | 54 | 9 | 924-3,291 | $1.4M | 95% | 2022 | Fast | Under Const. |
La Maré RegencyUltra 9927 E Bay Harbor Dr | BHI | Regency Development | Kobi Karp | 33 | 8 | 1,567-4,500 | $1.4M | 90% | 2023 | Fast | Under Const. |
La Maré SignatureUltra 9781 E Bay Harbor Dr | BHI | Regency Development | Kobi Karp | 9 | 8 | 2,100-4,300 | $2.9M | 65%+ | 2023 | Moderate | Under Const. |
Bay Harbor Towers 10141-10143 E Bay Harbor Dr | BHI | PPG Development | Kobi Karp | 44 | 8 | 1,870-4,902 | $2.6M | 40% | 2023 | Slow | Under Const. |
La Baia North 9481 E Bay Harbor Dr | BHI | Ian Bruce Eichner | Revuelta | 57 | 8 | 1,432-2,111 | $1.44M | 65% | 2023 | Moderate | Under Const. |
Origin by ArtefactoUltra 9760 W Bay Harbor Dr | BHI | VDA Origin (Chile) | Revuelta | 27 | 7 | 2,135-2,200 | $3.8M | 74% | 2024 | Fast | Under Const. |
9900 West 9900 W Bay Harbor Dr | BHI | The Horizon Group | Frankel Benayoun | 23 | 8 | 1,200-3,200 | $3.0M | ~40% | 2024 | Moderate | Under Const. |
Indian Creek Res.Ultra 9110 W Bay Harbor Dr | BHI | Landau Properties | Kobi Karp | 9 | 9 | 3,000-6,000 | $5.6M | 80% | 2023 | Fast | Under Const. |
Solina Bay Harbor 1055 93rd St | BHI | Redhoek+ | CLA+D | 9 | 7 | 1,400-2,600 | $1.7M | N/A | 2024 | Postponed | Postponed |
Bay Harbor VillasNew 10190 E Bay Harbor Dr | BHI | Regency Development | Kobi Karp | 20 | 3 | 2,375-2,976 | $2.9M | N/A | 2025 | N/A | Pre-Const. |
La Maré Bay Coll.Ultra 10301 E Bay Harbor Dr | BHI | Regency Development | Kobi Karp | 9 | 8 | 2,897-5,389 | $2.9M | 10% | 2024 | Slow | Pre-Const. |
La Maré Bay Villa 10150 E Bay Harbor Dr | BHI | Regency Development | Kobi Karp | 3 | 3 | 2,100-4,200 | $2.65M | N/A | 2024 | N/A | Pre-Const. |
ALMA Bay Harbor 1160 101st St | BHI | Islands Development | Kobi Karp | 9 | 7 | 2,503-4,443 | By Appt | N/A | 2025 | N/A | Pre-Const. |
MILA Residences 1125 97th St | BHI | Islands Development | Kobi Karp | 9 | 7 | 2,100-3,900 | By Appt | N/A | 2025 | N/A | Pre-Const. |
Pool Haus 1130 100th St | BHI | Redhoek+ | Pliskin Architecture | 18 | 7 | 2,200-3,400 | $2.0M | N/A | 2025 | N/A | Pre-Const. |
| North Bay Village — 6 Projects · ~1,100+ Residences | |||||||||||
Tula Residences 7918 West Dr | NBV | Bayshore Grove Capital | MTTR MGMT | 54 | 21 | 1,590-4,140 | $2.0M | N/A | 2025 | N/A | Under Const. |
Shoma Bay 1850 JFK Causeway | NBV | Shoma Group | MSA Architects | 333 | 24 | 376-1,443 | $750K | N/A | 2023 | N/A | Under Const. |
Continuum Club 1755 JFK Causeway | NBV | Eichner + Aksoy | Arquitectonica | 198 | 32 | 800-4,000 | ~$1.0M | ~50% | 2024 | Moderate | Under Const. |
Pagani Residences Harbor Island | NBV | Riviera Horizons | Revuelta | 70 | 28 | 2,000-3,300 | $2.4M | N/A | 2025 | N/A | Pre-Const. |
El-Ad Tower 7913-7915 West Dr | NBV | El-Ad National | garciastromberg | 94 | 26 | ~2,600 avg | TBD | N/A | N/A | N/A | Pre-Planning |
Related / Macklowe 8000 East Dr | NBV | Related + Macklowe | Arquitectonica | 364 | 2x43 | 1-4 BR | TBD | N/A | N/A | N/A | Pre-Planning |
| Surfside / Bal Harbour — 5 Projects · ~159 Residences | |||||||||||
Rivage Bal HarbourUltra 10245 Collins Ave | Bal Harbour | Related + Two Roads | SOM | 56 | 24 | 3,300-12,700 | $7.6M | 45% | 2022 | Moderate | Under Const. |
Surf HouseUltra 8995 Collins Ave | Surfside | Fort Partners | KKAID | 17 | 11 | 2,262-7,780 | $8.5M | N/A | 2023 | N/A | Under Const. |
Ocean HouseUltra 9317 Collins Ave | Surfside | Multiplan | Arquitectonica | 25 | 12 | 2,100-5,500 | $5.0M | N/A | 2023 | N/A | Under Const. |
Surf Row 8800 Collins Ave | Surfside | LD&D + ONE Capital | Rene Gonzalez | 24 | 4 | 891-2,194 | $1.3M | N/A | 2024 | N/A | Under Const. |
The DelmoreUltra 8777 Collins Ave | Surfside | DAMAC International | Zaha Hadid | 37 | 12 | 5,000-12,000 | $15M | 0% | Early 2025 | Stalled | Pre-Const. |
The spread: $750/SF at NBV entry to $4,300+/SF in Surfside ultra-luxury oceanfront.
Surfside/Bal Harbour direct oceanfront commands 2.5x-3.5x the PSF of Bay Harbor's Intracoastal boutiques. Rivage $3,700/SF vs La Maré Regency $1,200/SF. Surf Row (west of Collins) at $1,500/SF confirms the premium is oceanfront-specific.
The Real Deal (April 19, 2026): zero units sold since early 2025. At $15M entry on the former Champlain Towers site, buyers are purchasing at Fort Partners' Surf Club instead.
NBV's pipeline is 2.7x Bay Harbor's. BHI's 8-story zoning cap means near-total buildout. NBV's height increases mean more supply is coming. Scarcity is structural in BHI.
BHI: 18 projects across $1.2M-$11M+ in studios, penthouses, townhomes, villas. NBV: 6 at dramatically different scale. Surfside/BH: 5, but 3 are ultra-luxury above $5M.
Bay Harbor offers boutique luxury at $1,000-$1,800/SF. Two miles south, oceanfront sells at $3,700-$4,300. Two miles west, high-rise bayfront launches at $750. The buyer who understands the corridor sees the value in all three.
Every active and recently delivered new construction project on Bay Harbor Islands. Bay Harbor Villas (20 townhomes) is the newest addition. "Ultra" flags top finish level and design sophistication.
| Project | Developer | Architect | Units | Stories | Delivery | Bedrooms | Size Range | From | % Sold | Status |
|---|---|---|---|---|---|---|---|---|---|---|
Onda ResidencesUltra 1135 103rd Street | CMC / Ugo Colombo | Arquitectonica | 41 | 8 | Q3 2024 | 2 to 4 | 1,809 - 3,523 | $4.9M | 95% | Delivered |
La Baia South E Bay Harbor Drive | Ian Bruce Eichner | Revuelta Architecture | 68 | 8 | 2025 | 2 to 4 | N/A | N/A | 100% | Sold Out |
Alana Bay Harbor 9901 W Bay Harbor Drive | Alta Development | Revuelta Architecture | 30 | 7 | 2026 | 2 to 3 | 1,229 - 1,662 | $1.2M | 90% | Closeout |
The Well Bay Harbor 1160 Kane Concourse | Terra Group | Arquitectonica | 54 | 9 | Q2 2025 | 1 to 3 | 924 - 3,291 | $1.4M | 95% | Under Construction |
La Maré RegencyUltra 9927 E Bay Harbor Drive | Regency Development | Kobi Karp | 33 | 8 | Q2 2026 | 2 to 4 | 1,567 - 4,500 | $1.4M | 90% | Under Construction |
La Maré SignatureUltra 9781 E Bay Harbor Drive | Regency Development | Kobi Karp | 9 | 8 | Early 2026 | 2 to 4 | 2,100 - 4,300 | $2.9M | 65%+ | Under Construction |
Bay Harbor Towers 10141-10143 E Bay Harbor Dr | PPG Development | Kobi Karp | 44 | 8 | 2026 | 2 to 4+Den | 1,870 - 4,902 | $2.6M | 40% | Under Construction |
La Baia North 9481 E Bay Harbor Drive | Ian Bruce Eichner | Revuelta Architecture | 57 | 8 | 2026 | 2 to 4+Den | 1,432 - 2,111 | $1.44M | 65% | Under Construction |
Origin by ArtefactoUltra 9760 W Bay Harbor Drive | VDA Origin (Chile) | Revuelta Architecture | 27 | 7 | Late 2026 | 2 to 4 | 2,135 - 2,200 | $3.8M | 74% | Under Construction |
9900 West 9900 W Bay Harbor Drive | The Horizon Group | Frankel Benayoun | 23 | 8 | 2026 | 2 to 4 | 1,200 - 3,200 | $3.0M | ~40% | Under Construction |
Indian Creek ResidencesUltra 9110 W Bay Harbor Drive | Landau Properties | Kobi Karp | 9 | 9 | Q4 2026 | 3 to 5 | 3,000 - 6,000 | $5.6M | 80% | Under Construction |
Solina Bay Harbor 1055 93rd Street | Redhoek+ | CLA+D / PANYC | 9 | 7 | TBD | 2 to 4 | 1,400 - 2,600 | $1.7M | N/A | Postponed |
Bay Harbor VillasNew 10190 E Bay Harbor Drive | Regency Development | Kobi Karp | 20 | 3 | Q2 2027 | 3 to 4 | 2,375 - 2,976 | $2.9M | N/A | Pre-Construction |
La Maré Bay CollectionUltra 10301 E Bay Harbor Drive | Regency Development | Kobi Karp | 9 | 8 | 2026 | 3 to 4+Den | 2,897 - 5,389 | $2.9M | 10% | Pre-Construction |
La Maré Bay Villa 10150 E Bay Harbor Drive | Regency Development | Kobi Karp | 3 | 3 | TBD | 2 to 4 | 2,100 - 4,200 | $2.65M | N/A | Pre-Construction |
ALMA Bay Harbor 1160 101st Street | Islands Development | Kobi Karp | 9 | 7 | TBD | 3 to 4 | 2,503 - 4,443 | By Appt | N/A | Pre-Construction |
MILA Residences 1125 97th Street | Islands Development | Kobi Karp | 9 | 7 | TBD | 2 to 4+Den | 2,100 - 3,900 | By Appt | N/A | Pre-Construction |
Pool Haus 1130 100th Street | Redhoek+ | Pliskin Architecture | 18 | 7 | 2027 | 2 to 4 | 2,200 - 3,400 | $2.0M | N/A | Pre-Construction |
Three price tiers, each with its own buyer profile. Bay Harbor Villas expands the mid tier with a townhome format new to the pipeline.
Boutique condos, 924-2,200 SF, 1-3 BR. First-time luxury BHI buyers, downsizers, investors. Lead buildings: Alana, La Baia North, La Baia South, La Maré Regency (entry), The Well, Pool Haus. La Baia South sold out. Alana 90%. The Well 95%. La Maré Regency 90%. HOA range: $0.99/SF (Alana) to $2.00/SF (The Well).
2,000-3,500 SF, premium European kitchens (Poliform, Armony Cucine, Italkraft), waterfront or distinctive architecture. Lead buildings: Bay Harbor Towers, 9900 West, Bay Harbor Villas, Origin, La Maré Signature, La Maré Bay Villa, La Maré Bay Collection. Origin 74%. BHT 40%. 9900W 40%. Bay Harbor Villas introduces the first townhome format: 20 units, 3-story, 2-car garages, Armony Cucine, Miele, from $2.9M.
Full-floor footprints (3,500-6,000 SF), private elevators, pools, marina slips, ultra-curated finishes. Lead buildings: Onda, Indian Creek, BHT penthouses, La Maré Bay Collection, ALMA, MILA. Onda 95%. Indian Creek 80% (9 units). Supply ceiling is structurally tight. BHI upper tier costs ~$1,400-$1,600/SF vs Surfside oceanfront at $2,400-$4,300/SF for half the square footage.
Bay Harbor Islands sits at a measured remove from Miami, with Indian Creek to one side and a short walk to Bal Harbour Shops on the other. That geography is doing the work that no marketing department could replicate.
Nine under construction, four delivered/sold out, five pre-construction. Average building: 23 residences. A coordinated bet on scarcity.
Twelve of eighteen have fewer than 35 units. Median: 20. The 8-story cap forces competition on finish quality, not height.
Fourteen of eighteen have entry $1.2M-$5M. Mid-luxury, not ultra-luxury. Below Surfside on price, above it on absorption velocity.
Nine of eighteen (50%), including Bay Harbor Villas. Revuelta follows with four. Two firms shape the island's visual language.
Well 95%, Onda 95%, Regency 90%, Alana 90%, La Baia South sold out. Near-delivery converts fast. Pre-construction sells methodically.
Five products, 74 residences, unified architecture (Kobi Karp), tiered pricing $1.4M-$6.3M+. Largest developer pipeline on the island.
S3 Capital: two BHI projects ($86M+). SCALE Lending: The Well. Total disclosed BHI construction debt exceeds $300M.
A small group of architects and designers control the visual language across the entire pipeline.
BHT, La Maré Regency, Signature, Bay Collection, Bay Villa, Bay Harbor Villas, ALMA, MILA, Indian Creek
Alana, La Baia North, La Baia South, Origin by Artefacto
Onda Residences, The Well Bay Harbor
Pool Haus. Brooklyn-based, New York boutique sensibility.
Five products, 74 residences. Largest single-developer footprint on the island.
La Maré Regency, Signature, Bay Collection, Bay Villa. Brazilian firm, entire La Maré aesthetic.
Bay Harbor Villas. First appearance in the BHI pipeline.
Bay Harbor Towers. Italian Hessentia (Cornelio Cappellini) exclusive.
Bay Harbor Villas. Swiss-based. First BHI engagement.
Six objections buyers raise, and the fact-based responses that handle them.
Surfside oceanfront: $2,400-$4,300/SF. Bay Harbor waterfront: $1,000-$1,800/SF. $5M in Surfside = ~1,200-2,100 SF. $5M in Bay Harbor = 2,800-5,000 SF with marina, pools, full-floor footprints.
The question is not "ocean or not." It is "what does $5M buy?"
2.5x-3.5x PSF spread2x-3x more SF per dollarRivage: 56 units by SOM, from $7.6M, 45% sold. A buyer below $7.6M has zero new construction options in Bal Harbour Village.
Bay Harbor: 18 projects, $1.2M-$11M+, nine developers, nine design philosophies.
18 BHI projects vs 1 Bal Harbour$1.2M entry vs $7.6M entryThe Real Deal (April 19, 2026): not a single unit since early 2025. $15M entry, $4,300/SF, former Champlain Towers site. Buyers at that price point are purchasing at Fort Partners instead.
Bay Harbor: Onda delivered at 95%. Indian Creek at 80%.
Delmore: 0% soldOnda: 95%Indian Creek: 80%5-min walk to Bal Harbour Shops. 10 min to Surfside Beach. 15 min to Aventura Mall. Ruth K. Broad K-8 (A-rated). Lowest crime rates in Miami-Dade. Eighteen developers betting $300M+ that the privacy buyer pool is deeper than the nightlife buyer pool.
Walk to Bal Harbour ShopsA-rated public K-8The entire 18-project pipeline: ~410 residences. A single Brickell tower (Cipriani: 397 units) delivers comparable count. Five projects at 85%+. The 8-story cap means near-total buildout. Once delivered, new supply stops.
~410 units across 18 projects5 projects at 85%+ soldPool Haus: 2-week min. Alana: 30-day / 12x year. La Maré Signature: 3-month / 2x. The Well, 9900W, Onda, BHT: 6-month / 2x. Surf Row (Surfside): 3-month min. Rivage (Bal Harbour): not disclosed.
2-week: Pool Haus30-day: Alana6-month: Well, Onda, BHTThe agents closing deals in this submarket aren't guessing. They're prepared. The data doesn't argue for Bay Harbor over Surfside. It argues for understanding what each dollar buys in each submarket.
Every disclosed construction loan across the corridor, sorted by size. Total exceeds $1.1 billion.
| Project | Submarket | Lender | Amount | Date |
|---|---|---|---|---|
| Rivage Bal Harbour | Bal Harbour | TYKO Capital | $424,000,000 | September 2024 |
| Surf House | Surfside | Not disclosed | $110,700,000 | 2024 |
| La Baia South | Bay Harbor | Not disclosed | $90,000,000 | Early 2024 |
| Bay Harbor Towers | Bay Harbor | Not disclosed | $90,000,000 | January 2024 |
| La Maré Regency | Bay Harbor | S3 Capital | $55,700,000 | 2024 |
| Surf Row | Surfside | Maxim Capital Group | $30,500,000 | March 2026 |
| Origin by Artefacto | Bay Harbor | S3 Capital | $30,500,000 | July 2025 |
| Indian Creek Res. | Bay Harbor | Not disclosed | $29,000,000 | August 2023 |
| 9900 West | Bay Harbor | Not disclosed | $27,000,000 | December 2024 |
| Alana Bay Harbor | Bay Harbor | Not disclosed | $20,000,000 | August 2023 |
| The Well Bay Harbor | Bay Harbor | SCALE Lending | Not disclosed | October 2023 |
Bay Harbor Islands and North Bay Village: separated by the 79th Street Causeway and a fundamental difference in development philosophy.
BHI's 8-story cap is permanent. NBV approved 498 ft. Low-density buyers choose BHI. High-floor view buyers choose NBV.
NBV pipeline: 1,100+ units, $2B+. BHI: ~410 units. When NBV delivers, the corridor tests dual absorption. BHI scarcity is structural. NBV's is not.
NBV attracts brands (Ritz-Carlton, Pagani). BHI has zero. Below $3M: complementary. Above $3M: BHI's boutique format has positioning advantage.
Eichner operates both: La Baia ($1.4M, 8 stories) in BHI and Continuum Club ($1M, 32 stories) in NBV. Complementary markets, different buyers, two miles apart.
Seven observations from looking at the entire corridor at once.
Every BHI condominium is 3-9 stories. Zoning caps vertical development permanently. Every building competes on horizontal differentiation. Kobi Karp's nine buildings look different despite one architect's hand.
Seven of eighteen have 9 or fewer residences. The format: no hotel-style management, full-floor residences, lower-density zoning.
Poliform (3 La Maré), Italkraft (ALMA, MILA, Alana), Armony Cucine (Bay Harbor Villas, Bay Villa), Sub-Zero/Wolf (BHT, Origin). Buyers ask brand-specific questions now.
Bay Harbor Villas: 20 units, 3-story, 2-car garages, elevators, rooftop terraces, from $2.9M. Select units include St. Regis Bal Harbour amenity access (developer-paid, 2 years).
Within BHI: ~15-25% delta. The Well (non-waterfront, $1,400 entry) vs Onda (bayfront, $1,500 entry). Every building is 5 min from water.
Delmore: zero sales, 15+ months. Ocean House and Surf House: undisclosed. The $10M+ oceanfront tier absorbs slower than BHI's $1M-$5M tier.
Five products, 74 residences, Kobi Karp throughout, Debora Aguiar + Arhidiza interiors, $1.4M-$6.3M+. Largest developer on Bay Harbor Islands.
Five signals that will define the corridor.
Indian Creek and La Maré Bay Collection test $5M-$9M+. Watch Onda trade-out reports for the leading indicator.
Zero sales after 15+ months. If unchanged through Q3 2026, fundamental questions about the $15M+ tier on the Champlain Towers site. The most watched indicator in the corridor.
Bay Harbor Villas: first significant townhome test. If 20 units sell near ask ($2.9M+), expect similar projects. If slow, the BHI buyer prefers condos.
East and west shores are built out. Future: mid-century teardowns or multi-parcel assemblage. Cost basis sets the next pricing cycle floor.
Five years ago, a descriptor. Today, a recognized luxury brand approaching Bal Harbour in buyer conversations. The 18-project pipeline is the strongest evidence.