Miami’s Aria on the Bay tops off at 80 percent sold

Aria on the Bay tops off in Edgewater

 Courtesy of Melo Group

Aria on the Bay has become Miami’s latest luxury condominium to top off, with the 648-unit tower rising to 53 stories in Edgewater.

Developed by Melo Group and designed by Arquitectonica, the development is 80 percent sold and expected to be completed by the first quarter of 2018. Units range from one to four bedrooms, with prices starting in the $400,000s and maxing out at $6 million.

The mixed-use project is located at 1770 North Bayshore Drive, next to the waterfront Margaret Pace Park. Deposit requirements on the remaining units have been slashed to as low as 20 percent for residences exceeding $1 million.

“Since we’ve already closed and covered our loan and construction is moving quickly, we’re able to relax our deposit requirements,” said Carlos Melo, principal of the Melo Group. “We’ve sold 80 percent of our units to buyers from over 42 countries across the globe. Lowering deposit requirements is an incentive to attract more local and domestic buyers and sell out our remaining units in advance of the building’s delivery early next year.”

Amenities include a 14th-floor amenity deck with multiple pools; a hot tub; fire pits; barbecue areas; a spa; fitness center; yoga studio; entertainment lounge; and screening room. 20,000 square feet of office, retail, and restaurant space will occupy the lower floors.