What Buyers Should Know About Pre-Construction Deposits In South Florida

Pre-construction condo deposits in South Florida operate differently from most U.S. resale markets. Rather than a single earnest-money deposit, buyers contracting at Miami, Brickell, Edgewater, and Sunny Isles Beach new developments fund a series of staged deposits across the construction timeline — typically totaling twenty to fifty percent of the purchase price before closing. The structure shapes how branded residences such as Cipriani Residences Miami, Villa Miami, The St. Regis Residences, Miami, 619 Brickell, The Residences at Mandarin Oriental, Miami, and Bentley Residences are bought, financed, and timed.

This guide explains how Miami pre-construction deposit schedules are typically structured, how funds are held in escrow under Florida law, and what buyers should verify before signing a purchase agreement.

Why South Florida Pre-Construction Deposits Look Different

Buyers relocating from New York, California, or international markets are often surprised by the scale of new development condo contracts in Miami. Most U.S. resale transactions involve a single earnest-money deposit of five to ten percent. South Florida pre-construction has long operated on a staged model that requires buyers to fund a meaningful portion of the purchase price across a two-to-four-year build.

The reasons are structural. Florida developers rely on buyer deposits to fund construction, particularly in the luxury new-development segment that includes projects from Mast Capital, Related Group, Swire Properties, 13th Floor Investments, Terra, One Thousand Group, Integra Investments, and Dezer Development. Deposits are held in escrow under specific statutory protections, and the staged schedule is designed to align developer and buyer interests across the construction window.

For branded residences operating under hospitality flags — St. Regis, Mandarin Oriental, Cipriani, Nobu, Bentley — the staged framework is the prevailing standard.

The Typical Miami Pre-Construction Deposit Schedule

While every contract is project-specific and subject to change, luxury condo deposits in South Florida generally follow a recognizable pattern:

First Deposit — At Contract Signing

Typically ten percent of the purchase price, due when the buyer signs the reservation or purchase agreement.

Second Deposit — At Groundbreaking

Often another ten percent, due at groundbreaking or within a defined window after the developer countersigns the contract.

Third Deposit — At a Construction Milestone

Frequently tied to top-off or another defined structural milestone. Typically ten percent.

Final Balance — At Closing

The remaining balance, paid in cash or financed at delivery.

By closing, buyers should expect to have funded twenty to fifty percent of the purchase price in deposits, depending on the project, residence type, and buyer profile. International buyers and buyers of penthouse or full-floor residences sometimes negotiate modified schedules. Buyers should verify the schedule for any specific residence with the development team.

How Deposits Are Held Under Florida Law

Under Florida statute, pre-construction deposits are held in escrow by a designated escrow agent — typically a Florida title company or attorney named by the developer. Buyers should review the escrow provisions of their purchase agreement carefully and confirm whether deposits are held in an interest-bearing account, whether and when portions may be released to the developer for construction use, and what notice the buyer receives if funds are moved.

This is an area where independent legal counsel is strongly recommended. Pre-construction contracts in South Florida are developer-drafted and are not the same instruments used in resale transactions.

Deposit Considerations at Featured South Florida Developments

The towers below illustrate the range of new-development activity across South Florida. Deposit structures, pricing, and availability are project-specific and subject to change; current figures should be verified with each development team.

Cipriani Residences Miami — Brickell

Developed by Mast Capital with architecture by Arquitectonica, Cipriani Residences Miami is an 80-story, 397-residence tower at 1420 South Miami Avenue, with a 2027 completion year. As an actively selling Brickell branded residence, it follows a staged deposit framework typical of the submarket.

Villa Miami — Edgewater

A collaboration between Terra and One Thousand Group with interiors by Charles & Co. and lifestyle programming by Major Food Group, Villa Miami offers 72 residences across 55 floors at 710 NE 29th Street, with a 2027 completion. The boutique unit count places Villa Miami in the ultra-luxury Edgewater segment.

The St. Regis Residences, Miami — South Brickell

Developed by Related Group and Integra Investments with architecture by Robert A.M. Stern Architects and interiors by Rockwell Group, The St. Regis Residences, Miami consists of 152 residences across 50 floors at 1809 Brickell Avenue, with completion targeted for 2026. As the project approaches delivery, buyers contracting now should verify the current deposit schedule with the development team.

619 Brickell

A Nobu-branded residential tower developed by 13th Floor Investments with architecture by Foster + Partners in collaboration with Sieger Suarez Architects, 619 Brickell will rise 74 floors with 300 residences and a 2030 completion. With pre-construction extending across several years, the staged framework is particularly relevant.

The Residences at Mandarin Oriental, Miami — Brickell Key

Developed by Swire Properties with architecture by KPF and interiors by Tristan Auer and Laura Gonzalez, The Residences at Mandarin Oriental, Miami consists of 228 residences across 64 floors on Brickell Key, with a 2029 completion year.

Bentley Residences — Sunny Isles Beach

Developed by Dezer Development with architecture by Sieger Suarez Architects and interiors by Bentley, Bentley Residences is a 62-unit, 60-floor oceanfront tower at 18401 Collins Avenue, with a 2027 completion. Given residence sizes ranging from 3,500 to 9,000 square feet, buyers should request the deposit schedule specific to their unit and floor.

What Buyers Should Compare Across South Florida Pre-Construction

A staged deposit schedule is one of many variables that distinguish luxury new developments. Before contracting, buyers should compare:

• Pricing and floor plans. Confirm the current price sheet and the floor plans tied to the residence line, since both can shift as towers sell through.
• Developer track record. A developer’s history of on-time delivery, capitalization, and completed projects materially affects how a multi-year deposit commitment is underwritten.
• Brand and operator. Branded residences — Cipriani, St. Regis, Mandarin Oriental, Nobu, Bentley — carry distinct service models, amenity programming, and ongoing fees.
• Delivery timeline. A 2026 delivery and a 2030 delivery imply different deposit pacing, holding periods, and exposure to market cycles.
• Deposit structure. Compare the percentage due at each milestone, the milestones themselves, and any provisions for international buyers.
• Views, location, and orientation. Bay, ocean, intracoastal, skyline, and island settings each carry different premiums.
• Service model. In-residence dining, hospitality concierge, butler service, marina access, and resident-only restaurants vary widely.
• Rental policy. Some condominiums permit short-term rentals; others restrict them. Buyers should verify the policy in writing.
• Resale considerations. Branded residences and low-density towers tend to perform differently in resale than higher-density product. Past performance is not indicative of future results.