Miami Luxury Condos · Edgewater · New Wave
New Wave is small — 76 residences.
By Josh Stein · Florida license SL3057661 · Updated 30 September 2026
Verified 17 August 2026Miami-Dade County Property Appraiser1 source
New Wave — photography to follow
Key Takeaways
- New Wave recorded 5 sales in the 12 months to 23 September 2026 — at a median of $560,000, or $659 per square foot, on the Miami-Dade County Property Appraiser record. The latest recorded sale was on 12 May 2026. Own at New Wave? Ask Josh what yours would sell for on WhatsApp.
- New Wave is small — 76 residences, with no commercial folios at all. That scarcity is the building’s defining feature.
- 2026 has produced five qualified sales so far, against two in 2025 and three in each of 2023 and 2024.
- Price per square foot rose with it, from $579 in 2025 to $659, level with 2023. The median price, $560,000, is below 2025’s $680,000 because three of the five 2026 sales were 850 square foot homes.
- Homes run 850 to 2,250 square feet, median 950 — 50 one-bedrooms, 25 two-bedrooms and a single three-bedroom.
- The 2026 median assessed value is $404,512.
- Every figure here rests on a very small sample. In a 76-unit building, three sales is a normal year — treat all of it with appropriate caution.
New Wave, by the numbers
Developer: Cardinal Development · Architect: Kobi Karp. Source: the building record on this site.
725 NE 22nd Street, Miami, Florida | Neighborhood: Edgewater
A genuinely small building in a neighbourhood of towers
Counted against the Miami-Dade County Property Appraiser record on 23 September 2026, New Wave returns 76 folios, all of them residential — no commercial units, no storage or parking folios registered separately, no hotel component.
Edgewater is defined by towers of several hundred units each. A 76-home building is a different proposition entirely: a smaller association, fewer competing listings when you sell, and none of the mixed-use complexity that comes with retail and hotel operators inside the same structure.
The mix is 50 one-bedrooms, 25 two-bedrooms and one three-bedroom, with heated area from 850 to 2,250 square feet, median 950. Note the floor: there is nothing below 850 square feet here, so even the one-bedrooms are generously sized by neighbourhood standards.
What 2026 has recorded so far
Qualified sales from the county record, arm’s-length only, as pulled on 23 September 2026. A deed on 2 June 2026 that conveyed two homes together for $1,825,000 in total is a multi-parcel sale and is left out of every figure on this page.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 3 | $850,000 | $659 |
| 2024 | 3 | $550,000 | $579 |
| 2025 | 2 | $680,000 | $579 |
| 2026 to date | 5 | $560,000 | $659 |
Five qualified sales so far in 2026 against two in the whole of 2025, at $659 per square foot, up from $579 and level with 2023, on a $560,000 median.
Why you should not over-read these numbers
I want to be straight about the limits here, because it would be easy to oversell this.
The samples are tiny. Three sales, three sales, two sales, five sales. In a 76-unit building, a normal year is a handful of transactions, so a single unusual sale moves the median hard. The 2025 row is two homes, which is not a market reading either.
Five sales in a partial year, against two the year before, is a change in tempo worth noting. But the honest version is that the sample is too small to call a trend.
Who this building suits
This suits a buyer who wants Edgewater without living in a 600-unit tower — a smaller association, generously sized one-bedrooms, and no retail or hotel operating downstairs.
The scarcity cuts both ways. With 76 homes and two or three sales a year from 2023 to 2025, inventory appears rarely. If you want in, you may wait; if you own here and want out, you have very little competition.
If you are selling, be prepared for a buyer to point out, correctly, how few transactions the record rests on.
New Wave Edgewater — Frequently Asked Questions
What have homes at New Wave sold for in the last 12 months?
5 sales were recorded on the Miami-Dade County Property Appraiser record in the 12 months to 23 September 2026, at a median of $560,000 ($659 per square foot). The latest recorded sale was on 12 May 2026. These are recorded closings, not asking prices. If you own at New Wave and want to know what your home would sell for, message Josh Stein on WhatsApp at (305) 695-8257.
How many units are in New Wave?
The Miami-Dade County Property Appraiser records 76 folios at 725 NE 22nd Street, all of them residential. There are no commercial condominium folios in the building.
Are prices rising at New Wave?
On the county record, 2026 to 23 September has produced five qualified sales at a median of $560,000 and $659 per square foot, against two sales in 2025 at a median of $680,000 and $579 per square foot. Price per square foot is up from 2025 and level with 2023, while the median price is lower because three of the five 2026 sales were 850 square foot homes. The sample is small, so read it as direction only.
What size are the residences at New Wave?
Heated area runs from 850 to 2,250 square feet with a median of 950. The mix is 50 one-bedrooms, 25 two-bedrooms and one three-bedroom — there are no studios and nothing below 850 square feet.
Why does New Wave trade so rarely?
It is a small building. With 76 homes and two or three qualified sales a year from 2023 to 2025, inventory simply appears less often than in the surrounding towers, which hold several hundred units each.
What does the sale record show about New Wave’s prices?
Qualified sales on the county record: 3 in 2023 (median $850,000, $659 per square foot), 3 in 2024 ($550,000, $579), 2 in 2025 ($680,000, $579) and 5 so far in 2026 ($560,000, $659). These are very small samples, so the record shows direction at most, not a trend.
Does New Wave have retail or a hotel in it?
No. All 76 folios on the county record are residential, so unlike several larger buildings nearby there is no commercial or hotel operation inside the association.
Sources and further reading
Interested in selling in New Wave?
Learn more about selling your condo in New Wave with Josh Stein.
Edgewater Condo & Loft Buildings
Edgewater runs along Biscayne Bay between the Venetian Causeway and the Julia Tuttle. Every building below has its own page on this site, with its own county sales record:
- 1800 Biscayne Plaza
- 1800 Club
- Aria on the Bay
- Bay House
- Biscayne Beach
- Blue Condominium
- Cite on the Bay
- City 24
- Edgewater Lofts
- Elysee Miami
- Gallery Art Condominium
- Gran Paraiso
- Icon Bay
- Moon Bay
- One Paraiso
- Onyx on the Bay
- Opera Tower
- Paraiso Bay
- Paramount Bay
- Platinum Condo
- Quantum on the Bay
- The Crimson
- The Grand Condos Miami
- Uptown Lofts
Thinking about New Wave?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comGet this building’s next recorded sale — before the listing sites catch up
- Every closed sale we can verify from the Miami-Dade record — price, date, and $/sqft when the deed supports it — not an IDX feed.
- Optional alert when a new deed posts in this building (or a short list of comps you choose).
- No spam inventory blasts. One building. One record. You decide what happens next.
Tell Josh which building. He’ll send the latest closed sales and set a quiet alert.
Get the sales recordRelated coverage
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