The developers and buyers of Baccarat Residences Miami are celebrating today as the master building permit has at long last been issued. This is a significant step forward in the luxury high-rise development that was stalled briefly due to issues with the site work.
As part of the three-tower project formerly known as One Brickell, Baccarat was intended to be the first and most luxurious tower. As life would have it, the neighboring Viceroy Residences Brickell was able to be constructed first simply due to how the construction was financed.
While Baccarat has always been intended as a condominium complex, Viceroy Residences Brickell began as a multifamily rental development, then recently transitioned into a condominium tower.
Rendering of Baccarat Residences Miami Brickell and Viceroy Residences
Construction Delays at Baccarat Residences Miami Brickell
As construction commenced on Viceroy Brickell as a rental complex, Baccarat enjoyed a strong and steady preconstruction sales cycle.
The developer, Related Group, easily landed a $328 million construction loan for the tower in March of this year. We speak about construction loans often on this blog. They are notoriously difficult to attain, so when a project does earn construction financing, it is a testament to the strength and fortitude of the project.
Although the sales have been strong and the construction financing was easily awarded, Baccarat has faced some challenges. In 2023, the project stalled for many months after the discovery of ancient artifacts were uncovered during site preparation. A thorough investigation was performed and the site was eventually cleared for construction.
Current Project Status
As of July 15, the master building permit has been issued to Baccarat Residences Miami. This replaces the previous phased vertical construction permit and clears the way for the project to move forward uninterrupted. They were also awarded an electrical permit on July 18.
The next permit on the to-do list will be a mechanical air permit, which would allow the installation of cooling towers once the tower reaches full height.
Rendering of Baccarat Residences Terrace
Baccarat Residences Condo Features
When completed, Baccarat Residences will be one of the tallest towers in the skyline, reaching 848 feet above ground and 852 feet above sea level. The 360 residences will offer:
- Open concept flow through residences offering 1, 2, 3 and 4-bedroom layouts
- Private secured elevators and foyers in all residences with 2 elevators opening directly into each unit
- 10-ft ceilings in residences
- Energy-efficient, impact-resistant, floor-to-ceiling windows and sliding glass doors
- High-efficiency individually-controlled cooling and heating systems throughout residences
- Open-concept kitchens with chef’s island, custom Italian cabinetry designed by Meyer Davis and a pre-construction selection of finishes and choices of backsplashes and stone countertops
- Gourmet kitchens also feature high-end appliances with cabinetry integrated paneling including Wolf induction cooktop, Wolf contemporary oven and steam oven, Sub-Zero refrigerator/freezer, Sub-Zero wine refrigerator, Cove dishwasher and concealed hood
- Spa-like master bathrooms offering frameless glass-enclosed rain showers, stand-alone soaking tubs, Italian cabinetry, imported stone countertops and separate water closet
- Spacious dual walk-in closets with Italian cabinetry in master bedrooms
- Most residences offer spacious laundry rooms with utility sinks, storage cabinetry and large capacity washers/dryers
- Interior doors are solid core wood to enhance soundproofing in unit
- Private 8-ft-deep terraces with glass railings
- Corner units feature private expansive wrap-around terraces
- “Smart Building” pre-wired for advanced technology
- Interface technology for building amenities and services including valet parking, concierge, security and in-home services including window treatments, lighting and audio/visual systems
Rendering of Baccarat Residences Terrace View
At this time, only select penthouses are available for purchase at Baccarat Residences. If you are interested in being added to a waiting list for a residence in the tower, feel free to reach out to us. We do follow up on these lists for each project and there are investors who purchase preconstruction residences for the purpose of selling once the building is constructed.
To be added to this list or to explore the possibility of selling a Baccarat Residence that you purchased during construction, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
