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Onyx on the Bay

Address: 665 NE 25th Street, Miami

Neighborhood: Midtown-Edgewater

Year Built: 2007

# Units: 118

# Floors: 28

# Parking Levels: 5

$719,900
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,310
SQFT
665 NE 25th St PHI-02 #PHI-02
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$699,998
Condo For Sale
Active
3
BED
4
TOTAL BATHS
1,680
SQFT
665 NE 25th St 506 #506
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$523,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
665 NE 25th Street 1801 #1801
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$515,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,508
SQFT
665 NE 25th St 2301 #2301
Miami, FL 33137
 
$515,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,237
SQFT
665 NE 25th St 1604 #1604
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$515,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,285
SQFT
665 NE 25th St 1703 #1703
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$510,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,285
SQFT
665 NE 25th St 2603 #2603
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$498,750
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,368
SQFT
665 NE 25th 1905 #1905
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
New Listing - 4 weeks online
$460,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,368
SQFT
665 NE 25th St 1105 #1105
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision
$395,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
886
SQFT
665 NE 25th St 801 #801
Miami, FL 33137
EDGEWATER MIAMI Subdivision
$384,900
Condo For Sale
Active
1
BED
2
TOTAL BATHS
941
SQFT
665 NE 25th St 202 #202
Miami, FL 33137
ONYX ON THE BAY CONDO Subdivision

Ross’s Comments – What you Need to Know about Onyx on the Bay

While the immediate neighborhood (Edgewater) surrounding Onyx is experiencing a major new wave of residential and commercial development, it still has quite some way to go before fully gentrifying.

Towards the end of the last condo construction boom, Onyx on the Bay was introduced with a massive party, sushi was served on exotic models, and celebrity showings.

Located directly on Biscayne Bay, most loft or flats units offer amazing water views, and with only 5 units per floor, this building is very private and quiet.

The pool area is located on the east side of the tower facing the bay and there is also an eighth floor sunset garden on the west side of the tower.

One of the drawbacks in the design is that many of the terraces facing the bay are shallow and only about 3 to 4 feet deep.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $408

RECENT PRICE/M² $4,392   

MAINTENANCE COST/SQ FT $0.75 – $0.99

2 BEDROOM PRICE RANGE (2014-2015) $450,000 – $550,000

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UNIT SIZES  886 – 3,359 sq. ft (82 – 312 m²)

UNIT TYPES  1, 2, 3 and 4 bedrooms

# OF UNITS  118

# OF FLOORS  28

# OF PARKING LEVELS 5

ARCHITECT  Bermello, Ajamil & Partners

DEVELOPER  BAP Development & GGM Developers

PET POLICY  2 pets per unit subject to other restrictions. 

24-Hour Concierge, Valet and Security

Infinity-edged pool and whirlpool

Every unit has a direct bay view

Fitness center with cardio-theater

Poolside barbecue grill and bar

32-seat movie theater

Climate controlled wine cellar

MIDTOWN / EDGEWATER

The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.

Major construction is already underway to further transform the Miami Design District into a destination for fashion, design and culture. In 2014, luxury fashion brands such as Givenchy, Miu Miu, Tom Ford, Fendi, and Dolce & Gabbana among others, will be opening in the Design District. The new development will also include buildings by renowned architects Sou Fujimoto, Aranda/Lasch, Iwamoto Scott and Leong Leong.

In what used to be the manufacturing district of Miami, over the past few years local developers have rehabilitated warehouses and other unused buildings into the Wynwood Arts District. Today, Wynwood consists of numerous art complexes, galleries, performing art spaces, restaurants and cafes.

Due to its strategic location and availability of waterfront property, Edgewater is currently realizing the largest growth of these submarket areas with over 2,600 new residential units under construction. According to a study released by the Miami DDA, this is a 67 percent increase over the current size of the market. This, combined with the development opportunities surrounding the Arsht Center for Performing Arts, present the most potential for long-term growth in the Greater Downtown Miami Market.

Based on the historical absorption of new residential units (since 2001) and the anticipated annual delivery of new units, we expect that there will still be considerable residual pent-up demand for new construction condos in the area over the next four or five years.