Constellation, Boschetti & Vietmar Break Ground on Ella Miami Beach at 65% Sold

Key Points

• 65% pre-sold: Ella Miami Beach advances to vertical construction after breaking ground in February.

• Attractive pricing: Studios to 2‑beds from 429–1,756 sq ft, starting at $600K—well below typical Miami Beach new builds.

• North Beach boom: Anchoring broader redevelopment momentum alongside projects like Deauville and 72 Park.

Intro

Vertical construction is now underway at Ella Miami Beach, a boutique 10‑story, 103‑unit condo by Constellation Group, Boschetti Group, and Vietmar. With over 65% of units already sold, the project is timed to capitalize on shifting market dynamics in North Beach. 

Construction Update & Finance

• Groundbreaking & financing: After breaking ground in February 2025, the developers secured a $42.3M construction loan from Amerant Bank via Berkadia, solidifying project momentum.

• Engineering milestones: Sheet piling is complete and piling is ongoing—vertical build has officially commenced on-site at 6940 Abbott Avenue, with delivery projected for early 2027.

Product & Pricing Strategy

Unit mix & specs:

• Studios to two‑bedrooms, ranging from approx. 429–1,756 sq ft including balconies.

• Interiors feature 9‑ft ceilings, ItalKraft kitchens, stone counters, JennAir appliances, plus designer closets.

• Select units offer views of Biscayne Bay, the Atlantic, and Miami skyline.

Price point:

• Starting at $600K, Ella undercuts typical new‑builds in Miami Beach that commence around $1M.

• Ongoing demand in the mid‑market condo sector echoes upticks seen in Q1 across North Beach luxury—an 87.5% YoY sales surge in Mid‑North Beach.

Amenities & Rental Strategy

• Amenity highlights:

  • Rooftop pool and fitness area overlooking Biscayne Bay and downtown.

  • Ocean‑view pickleball court, residents’ lounge, summer kitchen, observation deck.

  • Wellness zones: outdoor yoga, cold plunge, sauna.

  • Coworking space, beach cruiser bikes, onsite parking & retail, private beach club access.

• Rental flexibility:

  • Partnership with Nomada Residences enables short-term and seasonal rental capabilities—an appealing model for investors seeking ROI and asset value protection .

North Beach Context

North Beach is riding a redevelopment wave:

• Deauville site is being reimagined into a branded condo and hotel tower, signaling a new epicenter for Miami Beach.

• Other projects include 72 Park (90% sold), mixed-use builds, and hotel conversions.

• Light zoning reforms since 2017 have enabled denser, vertical growth—transitioning North Beach from low‑rise to boutique urban enclave.

Investor Insights

• Market positioning: Despite a coastal-wide slowdown—condo sales off ~25%, Miami‑Dade volume down 20% YoY—the high-end and well‑amenitized mid‑market remain buoyant.

• Capital preservation: Ella’s short‑term rental approach, combined with boutique design, caters to both lifestyle buyers and investors aiming for yield.

• Appreciation potential: With North Beach third in Q1 luxury condo sales growth (~87%), this corridor presents prime early‑entry advantage .

Ella Miami Beach is strategically positioned at the intersection of design-driven living, mid-market affordability, and North Beach’s resurgence. As vertical construction advances and nearly two-thirds of units already sold, the project is on track to deliver by early 2027. For landlords and CRE investors, this represents a timely window to secure boutique, rental-friendly condos in a rising submarket prior to the next wave of appreciation.