Epic Residences

Three Hundred Forty-Two Homes, and a Hotel That Is Not Part of Them

I pulled every folio the Miami-Dade County Property Appraiser holds for the Epic West condominium at 200 Biscayne Boulevard Way — 343 records, of which one is the declaration’s reference folio and 342 are residential homes. Every one of the 342 is coded a residential condominium and carries a livable square footage. There is no commercial, hotel-coded, parking, cabana or storage folio inside this declaration to exclude, and the declaration’s undivided common-element shares close complete.

That last point matters more here than at most buildings, because Epic is two things sharing one tower. The 54-storey building holds the condominium and a 414-room hotel, and the hotel is not inside this declaration. It sits on a separate lot with a separate owner. When you read the price figures below, you are reading the condominium and nothing else — which is exactly the distinction the building’s own litigation turns on.

Trade coverage of the building has consistently described 362 condominium units. The county roll carries 342 today, and the declaration closes complete at that number. I cannot explain the difference from the record, so I am not going to try — I am telling you what the roll says and what the press says, and which of the two I verified.

The homes run 799 to 4,310 square feet, median 1,255. The bed mix is genuinely mid-market for downtown: 119 one-bedrooms, 199 two-bedrooms and 24 three-bedrooms. Six floorplates carry 216 of the 342 homes — the 799 sq ft plan appears 56 times, the 1,500 sq ft plan 44 times, then 1,237 (32), 822 (28), 950 (28) and 1,255 (28). That concentration is a real advantage when you are pricing: an identical comparable usually exists and usually traded recently.

On the 2026 tax roll, assessed values run $192,499 to $3,347,200 across the 342 homes, median $743,403.

Storey count, architect, amenity detail and completion year are not in the property record. What follows on those points is sourced to the dated trade press listed at the foot of this page, not to the county.

A Price Record That Rose on Both Measures

Most buildings I measure give me two lines that disagree, and I have to tell you which one to trust. Epic does not. Median price per square foot is up 7.3% since 2023 and median price is up 15.6% — both measures move the same way, and the 2024 dip on both is a mix year, not a market year: the median home that sold in 2024 was 1,237 square feet against 1,500 in 2025.

85 qualified sales closed across the four years against 342 homes — one home in 16 each year. That is a liquid building, with 12 to 28 sales in any single year, and it is enough volume that I would treat the direction as real rather than noise. The four-year band runs $572 to $1,090 per square foot, median $713. 2026 is an incomplete year — those 12 sales run only to the pull date.

The building’s record sale is $4,450,000 on 11 October 2022, for unit 5401, a 4,310 sq ft home at $1,032 per square foot. The highest price inside the current four-year window is $4,190,500 on 25 February 2026, for unit 5402 — the same 4,310 sq ft floorplate, at $972 per square foot. Both are top-floor homes, and there are only a handful of that size in the building.

Now the number that complicates the good news. Epic has 351 completed round trips on the record — a home bought and later resold, both legs qualified and arm’s-length. 84 of them, 23.9%, sold for less than the previous owner paid. The median outcome across all 351 is a gain of 16.1% over a median 5.4-year hold, so the typical owner here has done fine; but nearly a quarter did not, and that is a materially higher loss rate than I find in most buildings of this size. The reason is in the calendar. Of 673 qualified sales on the county’s full file, 328 — 48.7% — closed between 2009 and 2012, with 130 in 2011 alone. Nearly half this building’s entire recorded history is its original delivery into the worst condominium market Miami has had. That history sits outside the four-year table above, and none of it is a comment on today’s price, but a buyer comparing Epic against a building with a shorter or luckier record should know it is there.

Why Are the Condo Owners and the Hotel Owner Suing Each Other?

Over who pays for what, and who gets to decide.

The tower was developed in 2008 by Grupo Ponte Gadea — the real estate arm of Spanish billionaire Amancio Ortega — with Miami-based CMC Group, led by Ugo Colombo, and Lionstone, led by Diego Lowenstein, on the former DuPont Plaza Hotel site along the Miami River. The hotel portion, 414 rooms managed by Kimpton, remains under the hotel entity’s ownership.

On 20 October 2023, the hotel owner sued the Epic West Condominium Association in Miami-Dade Circuit Court, alleging the association had not paid $763,313 in shared maintenance expenses dating back to 2020. The itemised list attached to that complaint included roughly $398,000 for a line identified as the “BDA Project”, $104,000 for a moisture control system in the building’s elevator shafts, $91,000 to upgrade security cameras and nearly $33,000 to replace smoke detectors.

On 6 May 2024, the association sued back. Its complaint alleges that the hotel entity and a master association it controls exercise unilateral power over the shared common elements, and levy assessments on condominium owners who have no say in them. The complaint’s own words are the clearest statement of the mechanism: the hotel lot owner assesses the association’s members 50 percent for management, operation, reserves and insurance of the shared facilities, while the association “has no control, input, or vote as to the manner or amount of such expenditures.” Two specific examples are pleaded — that the condominium was charged 100 percent of a repair to the tower’s heating and air conditioning system despite it being a shared facility, and that it pays half the cost of maintaining the hotel’s lobby, which is not a common area of the condominium. The association’s lawyer, Stevan Pardo, put the association’s position bluntly to the trade press: “This type of hotel and condo structure should be determined as unlawful.”

These are allegations in pending litigation, not findings. The hotel entity’s attorney did not respond to press requests for comment, and I have seen no ruling on the merits. What I can tell you is that this is not a novel fight: the same lawyer represents the three condominium associations at a Miami Beach resort condo-hotel that sued its hotel owner in 2016 on closely similar grounds, and that case produced a final judgment in November 2023 that was a partial win and partial loss for the associations, with appeals from both sides still pending.

Why it belongs on a page about buying here: the disputed item is the assessment. If you are underwriting a purchase at Epic on today’s maintenance figure, you are underwriting a number that two parties are currently in court about. Ask for the association’s budget, its reserve position, its legal-expense line, and the current status of both cases before you are past your inspection period. That request is ordinary due diligence at any condo-hotel; here it is specific and documented.

Who Epic Suits, and Who It Suits Badly

Epic suits a buyer who wants a liquid, mid-size downtown home with a genuine comparable set. One home in 16 trades each year, six floorplates cover nearly two thirds of the building, and the price record has moved up on both measures since 2023 — a combination I do not find often. At a $713 four-year median per square foot it is priced well below the Miami Beach and Sunny Isles buildings it is often shown against, and the river-and-bay position is not replicable.

It suits badly a buyer who does not want to think about governance. This is a condominium sharing a building with a hotel it does not control, and the two are in litigation about exactly that. It also suits badly a buyer who needs certainty about carrying costs in the next few years: the assessment structure is the thing being litigated, and whichever way it resolves, it resolves into somebody’s budget.

If you are selling here, price off the per-foot band and your specific floorplate rather than the building median — a 799 sq ft home and a 1,500 sq ft home are two different markets inside one address. And expect a well-advised buyer to raise the litigation. The straight version helps you: the association is the plaintiff in the live case, the sums pleaded against it are five and six figures rather than the kind that reprice a building, and the sale record since 2023 shows buyers transacting through all of it at rising prices.

Interested in selling at Epic Residences?

Learn more about selling your condo at Epic Residences with Josh Stein.

I'M READY