The New North Bay Village: Luxury Projects, Market Trends & What’s Coming

 

North Bay Village Is Rising: A City Spotlight with Commissioner & Realtor Andy Daro

Welcome back to The Balance with Andreana Jackson. As a Miami realtor with over a decade of local market experience, I love taking you inside the neighborhoods shaping the next chapter of our city’s growth. Today’s spotlight: North Bay Village — one of the last true waterfront communities in Miami primed for transformative development.

To break it all down, I sat down with Andy Daro, founder of The Daro Group (ranked Top 10 in Miami Beach and Top 32 in Florida) and a current North Bay Village Commissioner. With nearly $2 billion in new projects either approved, underway, or in planning, North Bay Village isn’t just evolving — it’s accelerating.

A New Era of Development Is Here

Andy confirmed what residents have been buzzing about: North Bay Village is entering one of the largest redevelopment phases in its history. Leading developers are already in motion, including:

  • The Related Group

  • Continuum Company

  • Shoma Bay

  • Pagani Residences

  • MG Developer

  • Prospera

  • The Anson Family

  • Sunbeam (WSVN Channel 7 owners)

From branded luxury towers to mixed-use waterfront campuses, these projects are reshaping the future skyline.

Sunbeam Leads With Vision: 13 Acres of Waterfront Transformation

Sunbeam, the long-time owners of WSVN Channel 7, has quietly assembled 12–13 acres of prime waterfront land — making them the largest landholder in North Bay Village.

Their plan includes:

  • A major mixed-use waterfront district

  • Restaurants, retail, and lifestyle amenities

  • The Island Walk — a 25-foot-wide public waterfront promenade running behind their developments

  • More walkability, more public access, and more quality of life

The first Sunbeam redevelopment (the former Treasure Cove building) is set to come down in 2025, with a luxury rental building and the first completed segment of the Island Walk following.

North Bay Village Is Becoming a True 15-Minute City

Imagine:

  • Walking downstairs to a waterfront promenade

  • Stopping for coffee or dinner without leaving the island

  • Walking to Publix at Shoma Bay

  • Watching sunsets from a continuous bayfront walkway

Andy calls it “a game changer” — and he’s right.

North Bay Village's central location already allows residents to reach:

  • Brickell in 15 minutes

  • Surfside & Bal Harbour in 10–12 minutes

  • Miami Beach in under 10 minutes

With walkability added, the island becomes even more desirable.

North Beach Boom: Short-Term Friendly, Highly Amenitized

Just across the Causeway, North Beach is also erupting with new projects — especially in the short-term-rental-approved zones.

Key highlights:

  • 72 Park has officially opened

  • Stunning revitalization of Ocean Terrace

  • New restaurants, activated public spaces, and family-friendly parks

This dual redevelopment — North Bay Village + North Beach — strengthens values for both markets.

What This Means for Buyers & Owners: Older Condos Are Poised for Lift

One of the biggest questions buyers ask:
What happens to the older condo market with all this luxury construction?

Andy and I agree:
The older condos stand to benefit the most.

Current Price Per Square Foot (Older Condos – North Bay Village 33141)

(Based on active resale data November–December 2025)

  • Average price per sq ft: $420–$480

  • Most common range: $450–$475

  • Premium renovated units: $500–$550

  • Compare that to new development: $1,300–$1,600 per sq ft

This gap creates major appreciation potential as the neighborhood continues to shift upscale.

📌 Condos are sitting longer, prices have softened, and interest rates are coming down — making this moment one of the strongest buying opportunities in years.

Andy said it best:
“We can’t time the bottom perfectly, but we’re close.”

International Buyers Are Fueling the New Wave

While domestic relocations remain strong (especially from New York), foreign buyers are powering the new-construction side.

Why?

  • Miami is a safe place to park capital

  • Waterfront property is limited

  • New developments offer world-class amenities

  • Miami remains tax-friendly

This demand supports the entire island’s value — including older buildings.

Pagani & Continuum: Luxury Names Choose North Bay Village

Two standout announcements:

Pagani Residences

  • First ever Pagani-branded residential building

  • $30M penthouse with a limited-edition Pagani car included

  • Signals North Bay Village as a luxury destination

Continuum

  • Their first Continuum-branded tower since the iconic South of Fifth project

  • Developer says North Bay Village reminds him of what “South of Fifth was in 2000”

If SOFI is Miami’s Beverly Hills today… imagine what that means for NBV in 5–10 years.

Lifestyle Matters: Palm Tree Club + A-List Energy

The Palm Tree Music Club is drawing:

  • Leonardo DiCaprio

  • Ivanka Trump

  • Diplo

  • Black Coffee

  • John Summit

…and some of the biggest names in music during Art Basel.

This is not a nightclub — it closes at 10 p.m. and respects the residential character of the island — but the atmosphere has elevated North Bay Village’s star power.

People now proudly say they live in North Bay Village.
Five years ago? Not so much.

Argentine Football Association + New Community Center

One of the most inspiring projects:

  • A joint partnership with the Argentine Football Association (AFA)

  • New athletic complex replacing the old public works building

  • Track, soccer fields, paddle courts, and tennis

  • A new three-story community center with a rooftop garden

  • Shared hours for residents

And the best part?

AFA is funding the majority of the exterior development — not taxpayers.

This project puts North Bay Village on the international map.

Why People Love Living Here: Safety & Community

North Bay Village is only one square mile — and has one of the fastest police response times in Miami-Dade (around 3 minutes).

Crime is extremely low.
The community is tight-knit.
Sunsets are unmatched.

It’s residential Miami at its best.

A Personal Moment: How Andy Finds Balance

Because The Balance is also about wellness, I asked Andy how he stays grounded.

His answer:

Faith and family.
He and his wife Christina are raising their two-year-old son, Alexander.
They’re active at VOUS Church, and he still plays guitar — sometimes Christian rock — to unwind.

In a city as fast as Miami, it’s a reminder that balance matters as much as success.

Final Thoughts

North Bay Village is entering a historic chapter.

  • Billion-dollar investments

  • A world-class waterfront

  • Strong public-private partnerships

  • Lifestyle, safety, and walkability

  • A rare inventory of older condos still under $500/sq ft

Whether you’re a buyer, investor, or current resident, this is a moment to watch — and an opportunity to act.

If you’re considering North Bay Village, Andy and I would love to help you explore the market.

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