North Bay Village is three islands in the middle of Biscayne Bay, sitting on the 79th Street Causeway between Miami Beach and the mainland. Water on every side, a five-minute drive to either shore, and until recently a market almost nobody outside it paid attention to.
That has changed. Roughly 1,100 new residences are landing on these three small islands between 2026 and 2030, and the older buildings are not being resold so much as bought out and terminated. If you own here, or are thinking about it, that is the fact that matters.
What the market is doing — and why the published numbers are unreliable
Be careful with any North Bay Village statistic. The most recent retrievable figure shows a median sale price of $495,000, down 20.8% year over year, at $394 per square foot across ten sales in the month, with 138 days on market. A 20.8% move on ten transactions is noise, not a trend, and no reliable 2026 monthly figure exists. Nobody breaks this village out at board level.
Directionally, the village has been a buyer’s market since at least 2023 — roughly eight months of condominium supply on about 115 active listings and 14 sales a month. For county context, Miami-Dade’s June 2026 condo median was $431,000, down 3.15%, with 12.3 months of supply and 11,550 active listings.
The redevelopment pipeline, building by building
Continuum Waterfront District — the Continuum Company (Ian Bruce Eichner) with Aksoy Holding, on roughly 3.6 acres at 1755 and 1819 on the causeway, more than two million square feet in total. A $350 million financing closed with S3 Capital in spring 2026: $261 million construction for phase one, $83 million predevelopment for phase two. Phase one (west) is 36 storeys and 236 residences, about half under contract, completing 2028. Phase two (east) adds roughly 300 condominiums, 96 hotel rooms, 114 furnished hotel residences, a 20-slip marina and a bayfront promenade, for 2030. Architecture by Arquitectonica, interiors by Durukan Design.
Shoma Bay — 1850 on the causeway, Shoma Group. 24 storeys, 333 residences including ten townhouses and ten penthouses, above a 35,000 square foot Publix, which will be the village’s first supermarket. Vertical construction began around March 2026, more than 30% presold at roughly $97 million, delivering end of 2027. Pricing from the $800,000s to $5.3 million.
Ritz-Carlton Residences (proposed) — Related Group with Macklowe Properties on Harbor Island, at 8000 and 7946 East Drive. Two 43-storey, 500-foot towers with 364 condominiums, a 42-slip marina and a 9,000 square foot public park, by Arquitectonica. The zoning ordinance passed and commission approvals came in July and September 2025.
El-Ad National Properties at 7913–7915 West Drive won a height increase from 22 to 26 storeys (298 feet) for 94 residences from the Planning and Zoning Board in March 2026, with commission review pending. Pagani Residences at 7940 West Drive is 30 storeys and 70 residences from $3.9 million.
The Village Commission rezoned the Continuum site from T6-30 to a bespoke “Continuum Waterfront District” special area plan permitting height up to 600 feet, expressly aligned to the NBV100 Master Plan, approved unanimously in June 2025. The underlying framework is the village’s Form-Based Code at Chapter 15 of the Unified Land Development Code. If you want to know what can be built next to you, that is the document to read — not the current skyline.
Verified 3 August 2026. Source: traded.co, 19 June 2025 and North Bay Village ULDC, Chapter 15.
Every building in North Bay Village
Three islands in the middle of Biscayne Bay, on the 79th Street causeway. Water on every side and the shortest drive to both Miami Beach and the mainland.
- 360 Condos
Harbor Island Drive, North Bay Village, Florida 33141 - Cielo on the Bay
East Drive, North Bay Village, Florida 33141 - Continuum North Bay Village New
79th Street, North Bay Village, Florida 33141 - Eloquence on the Bay
East Drive, North Bay Village, Florida 33141 - Shoma Bay New
79th Street Causeway, North Bay Village, Florida 33141 - The Bridgewater
79th Street Causeway, North Bay Village, Florida 33141 - The Lexi
Hispanola Avenue, North Bay Village, Florida 33141
What a listing here will not tell you
The older stock is being bought out, not resold. The Ritz-Carlton site was assembled by purchasing the Biscayne Sea Club co-op outright for $47.7 million in late 2023 and by terminating the Majestic Isle condominium association after that building was declared unsafe. If you own in 1960s or 1970s North Bay Village stock, there are really two live scenarios: a bulk buyout at a premium, or a structural assessment. Both are worth planning for; neither appears in an MLS listing.
You will be living in a construction zone. Roughly 1,100 residences across three small islands between 2026 and 2030, on land where the entire village is about a quarter of a square mile. Expect noise, road work and staging for the rest of the decade.
The Publix matters more than it sounds. North Bay Village has never had a supermarket. Shoma Bay’s ground-floor Publix is a genuine change to daily life here and, plausibly, to values — though no published study quantifies that, so treat it as judgement rather than fact.
North Bay Village — frequently asked questions
Is North Bay Village a good investment in 2026?
It is a redevelopment story rather than a yield story. Roughly 1,100 new residences arrive between 2026 and 2030 — Continuum Waterfront District, Shoma Bay, a proposed Ritz-Carlton and several smaller towers — on three small islands. That means real upside for well-located land and older buildings that get bought out, and real disruption for anyone living through it. Published sale statistics for the village are based on about ten to fourteen sales a month and should not be read as trends.
What is being built in North Bay Village?
Continuum Waterfront District (phase one: 36 storeys, 236 residences, 2028; phase two: ~300 condos plus hotel, 2030), Shoma Bay (24 storeys, 333 residences above the village’s first Publix, end of 2027), a proposed Ritz-Carlton Residences by Related Group and Macklowe on Harbor Island (two 43-storey towers, 364 condos), an El-Ad tower approved at 26 storeys and 94 residences, and Pagani Residences at 30 storeys and 70 residences.
How tall can buildings get in North Bay Village?
The Continuum site was rezoned to a bespoke special area plan permitting height up to 600 feet, approved unanimously in June 2025 and aligned to the NBV100 Master Plan. Elsewhere the governing framework is the village’s Form-Based Code at Chapter 15 of the Unified Land Development Code. Height entitlements here have been moving upward, so check the code rather than the current skyline.
Will North Bay Village get a supermarket?
Yes. Shoma Bay includes a roughly 35,000 square foot Publix at ground level — the first supermarket in the village — delivering with the building at the end of 2027.
Sources
- Florida YIMBY — Developers close on $350 million loan for Continuum Waterfront District, 1 May 2026
- The Real Deal — Eichners score $350M loan for Continuum North Bay Village, 30 April 2026
- The Real Deal — Related Group and Macklowe plan Ritz-Carlton in North Bay Village, 29 October 2025
- traded.co — Continuum scores unanimous approval for Waterfront District, 19 June 2025
- North Bay Village — Unified Land Development Code, Chapter 15 Form-Based Code
- MIAMI REALTORS — Miami-Dade June 2026 market report, 17 July 2026
Related coverage
Part of Neighborhoods.