The 86 condos that comprise 26 Edgewater, a new building at 321 NE 26th St. in Miami, range from 560 to 998 SF. Some of them even have two bedrooms. Although a working definition of “micro-unit” typically refers to units 350 SF or smaller, these are being touted as “Edgewater’s first micro-units” and are set to open in February. According to a press release, the man behind 26 Edgewater, Stripey Development principal Alejandro Goldemberg, has completed more than 45 projects in the U.S., Argentina, Paraguay and Uruguay, with particular focus on densely populated urban centers where demand is beginning to exceed product availability. In Miami, Stripey purposely set out to court a middle-income, rather than a luxury, buyer. Stripey’s other local projects include small multifamily buildings on South Beach and Harbour Park, in Bay Harbor Islands. The building’s 58 one-bedroom units start at $311K and 28 two-bedroom units start at $470K. Maintenance costs are expected to run about $300 per month. But good luck getting one. According to the announcement, within 30 days of launching sales, the boutique development was already over 80% sold out. Stripey Development also plans “smart micro-apartments” in Little Havana and 27 Edgewater, a companion project to 26 Edgewater, but with 108 units.
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