Baccarat Residences Miami: 75 Storeys, Under Construction

Josh’s take

Two things about Baccarat are worth separating. It is financed and it is genuinely rising: a $328 million construction loan from Bank OZK was reported in March 2024, and Florida YIMBY reported decking at the fortieth floor on 13 March 2026, on the way to seventy-five. On my pre-construction tracker, fourteen of thirty-eight towers have no construction loan reported at all, and this one is not among them.

It is also not close to finished, and I want to be careful here because the marketing can read otherwise. Florida YIMBY (13 March 2026) judged that the tower would likely top out later in 2026 and that construction would conclude in early 2028, the date reported in March and April 2024. I have found no report of topping out since, and the developer’s website gives no completion date. Anyone budgeting to move in before early 2028 is working from a schedule nobody has published.

On the building itself: 360 residences at the mouth of the river in the March 2026 report (Related’s 2024 releases said 355), with Related Group and GTIS Partners as the developers and Baccarat licensing its name rather than building anything. The location cuts both ways and you should hear both halves. You can walk to everything in Brickell, which is the genuine argument for it. You are also sitting right at the bridge, which is exactly where Brickell Avenue knots up, and no rendering is going to show you that. Go and stand on that corner at six in the evening before you decide.

Josh Stein · Florida real estate sales associate, license SL3057661 · selling South Florida since 2002

Verified 25 September 2026City of Miami permit records, Miami-Dade County Property Appraiser, Baccarat Residences Miami website +20 more23 sources

Sources

Developer rendering of Baccarat Residences Miami — lobby and front desk

Key Takeaways

360 residences in a 75-storey tower — 324 tower units, 8 penthouses and 28 riverfront flats and duplexes (Florida YIMBY, 13 March 2026; the developer’s fact sheet gives the same split). Related’s 2024 releases said 355; the sources differ. Marketed as 444 Brickell Avenue; the City of Miami’s permit address is 99 SE 5th Street.
Status: under construction — the City of Miami’s master building permit was issued 15 July 2024 and is still Active with no certificate of occupancy listed (queried 25 September 2026). Florida YIMBY reported decking at the 40th floor on 13 March 2026, with portions of the 39th-floor slab still being poured. I found no report of topping out as of 25 September 2026.
Developed by Related Group with GTIS Partners — the developer’s website names 444 Brickell One, LLC as the condominium’s developer and says Related Group and Baccarat license their names to it. SH Hotels & Resorts will manage the building.
Architecture by Arquitectonica; interiors by Meyer Davis; landscape by Enzo Enea; general contractor John Moriarty & Associates (developer’s team page; Florida YIMBY, 13 March 2026).
Completion: early 2028 expected (PROFILEmiami, 1 April 2024; Florida YIMBY, 13 March 2026). The November 2021 launch release said 2025, and the developer’s website gives no date.
Sales: over 95% sold in Related’s release of 28 August 2024; I have not found a later percentage or a dated price list, and the developer’s website lists no prices (read 25 September 2026) — confirm current availability.

Baccarat Residences Miami, by the numbers

75Storeys

360Residences (Mar 2026)

Early 2028Completion expected

Under ConstructionStatus

Developer: Related Group with GTIS Partners · Architect: Arquitectonica · Over 95% sold per Related’s release of 28 August 2024; no current price list found. As of 25 September 2026: decking at the 40th floor reported 13 March 2026 (Florida YIMBY), no topping-out report found, City of Miami master permit Active.

Baccarat Residences Miami is a 75-storey tower under construction on the Miami River at the gateway of Brickell Avenue. Florida YIMBY reported decking at the 40th floor on 13 March 2026, and I have found no report of topping out since (as of 25 September 2026). Developed by Related Group with GTIS Partners, with Arquitectonica as architect and Meyer Davis on interiors.

Have a question about Baccarat Residences Miami? This page is built from the City of Miami permit record, the county record, the developer’s website and the trade press, not a listing feed. If you want what has actually closed here, or an honest read on whether it suits you, ask me directly.

Call (305) 695-8257 Email about Baccarat Residences Miami

The record so far: a $328 million construction loan from Bank OZK reported on 29 March 2024, a City of Miami master building permit issued on 15 July 2024, a foundation pour reported on 28 August 2024 and decking at the 40th floor on 13 March 2026. Completion is expected in early 2028 according to press reports. Every figure below is dated and sourced, and where the sources differ I show both.

By Josh Stein — Miami real estate sales associate, Florida license SL3057661. Selling Miami luxury property since 2002, with more than $1 billion closed.

Baccarat Residences Miami — Building Facts

Address: 99 SE 5th Street, Miami — the City of Miami permit address; marketed as 444 Brickell Avenue (developer’s website)
Position: Where the Miami River meets Biscayne Bay, at the gateway of Brickell Avenue (developer’s website)
Developers: Related Group · GTIS Partners (investment partner)
Developer entity: 444 Brickell One, LLC, named as the condominium’s developer on the official website and the owner of the construction-site folio on the county roll. The fact sheet also calls the building 444 Brickell One Condominium
Architect: Arquitectonica
Interior Design: Meyer Davis
Landscape: Enzo Enea
General Contractor: John Moriarty & Associates
Property Management: SH Hotels & Resorts
Storeys / Height: 75 · about 835 ft (Florida YIMBY, 13 March 2026); 848 ft above ground in Florida YIMBY’s permit report of 21 July 2024
Residences: 360 — 324 tower units, 8 penthouses, 28 riverfront flats and duplexes (developer’s fact sheet; Florida YIMBY, 13 March 2026). Related’s 2024 releases say 355
Construction Loan: $328M · Bank OZK, reported 29 March 2024
Status: Under construction — City of Miami master building permit issued 15 July 2024, still Active, no certificate of occupancy listed (queried 25 September 2026); decking at the 40th floor on 13 March 2026 with portions of the 39th-floor slab still pouring (Florida YIMBY)
Topping Out: No report found as of 25 September 2026; Florida YIMBY (13 March 2026) judged it likely later in 2026
Completion expected: Early 2028 (PROFILEmiami, 1 April 2024; Florida YIMBY, 13 March 2026). The November 2021 launch release said 2025
Sales: Over 95% sold per Related’s release of 28 August 2024; nothing newer found
Pricing: No current price list found; the developer’s website lists no prices (read 25 September 2026)

Verified 25 September 2026 against the City of Miami permit record, the Miami-Dade County Property Appraiser, the developer’s website and fact sheet, and the dated trade reports in the sources block below. Where sources differ, both are shown.

Developer rendering of Baccarat Residences Miami, the 75-storey tower on the Miami River in Brickell, shown at dusk above the surrounding skyline

What is actually being built at Baccarat Residences Miami?

A 75-storey tower of about 835 feet (Florida YIMBY, 13 March 2026; the same outlet reported 848 feet on 21 July 2024) holding 360 residences: 324 tower units, 8 penthouses, and 28 riverfront flats and duplexes at the base, according to the developer’s fact sheet and Florida YIMBY. Related’s 2024 releases said 355 residences, and its November 2021 launch release described 318 tower residences, 8 penthouses and 28 riverfront flats and duplexes; I have not found a source that explains the differences. The developer’s floor-plans page (read 25 September 2026) says the tower residences start on the 15th floor and reach the 73rd level with dual private elevator access, and the fact sheet puts the eight penthouses on the top three floors. The riverfront flats and duplexes at the base are a different product from the tower homes.

Related Group is the developer, with GTIS Partners as its investment partner (Related’s launch release, 16 November 2021). The official website (read 25 September 2026) names 444 Brickell One, LLC as the condominium’s developer and says that Related Group and Baccarat, which license their names to it, are not the Developer. Arquitectonica is architect, Meyer Davis handled interiors and Enzo Enea the landscape (developer’s team page); Florida YIMBY (13 March 2026) names John Moriarty & Associates as general contractor, which matches the contractor on the City of Miami permit. SH Hotels & Resorts, an affiliate of Starwood Capital Group, will manage the building (developer’s team page) — worth noting, because hotel-grade management inside a condominium is a recurring operating cost to ask about, not a one-off.

On the address. The developer’s website and fact sheet give 444 Brickell Ave. as the sales address, and Florida YIMBY (13 March 2026) says the tower is widely marketed under it. The City of Miami’s permit record lists the master new-construction permit at 99 SE 5 ST (folio 01-0210-000-1020), and The Real Deal (9 November 2023) and Commercial Observer (29 March 2024) also place Baccarat at 99 Southeast Fifth Street. The Real Deal’s 29 March 2024 article gives 77 Southeast Fifth Street, which Florida YIMBY (21 July 2024) gives for the adjacent Viceroy Brickell. The county roll lists 444 Brickell Ave as a different folio (01-0210-000-1060), coded as a 13-floor multistory office building of 347,608 sq ft, and Florida YIMBY reported on 1 January 2026 that Related’s third and final tower on the One Brickell master plan is proposed at that address. If you are pulling permits or title yourself, search 99 SE 5th Street, and confirm the legal description in the recorded declaration and offering documents.

Where Construction Stands

In March 2024 Related Group and GTIS Partners secured a $328 million floating-rate construction loan from Bank OZK (The Real Deal and Commercial Observer, 29 March 2024). Related said at the time that the tower was more than 95% pre-sold and that ground had been broken the previous October (Commercial Observer, 29 March 2024).

Brickell skyline at dusk seen across Biscayne Bay

The City of Miami issued the master building permit on 15 July 2024, replacing a phased vertical permit (Florida YIMBY, 21 July 2024; City of Miami permit record). The permit is entered at $241,612,503 and 806,646 square feet, is still Active and lists no certificate of occupancy (queried 25 September 2026). Related announced a record foundation pour over the weekend before 28 August 2024, headlined the largest in its 45-year history: about 30 hours, more than 10,000 cubic yards of concrete and 1,500 tons of reinforcing steel (PROFILEmiami, 28 August 2024; Florida YIMBY, 29 August 2024).

As of 13 March 2026, Florida YIMBY reported that decking had reached the 40th floor, with portions of the 39th-floor slab still being poured, about 35 floors still to go, two tower cranes on site and curtain wall a few floors below the active formwork. It judged that the tower would likely top out later in 2026 and that construction would conclude in early 2028; that is the outlet’s projection, not a developer schedule. I checked Florida YIMBY, The Real Deal, PROFILEmiami and Commercial Observer on 25 September 2026 and found no report of topping out or of a higher floor since March.

Sub-permits under the same application are still being issued: the newest in the city dataset, for access control and a new fire-alarm system, are dated 22 September 2026. That shows permitting is active; it does not say which floor the structure has reached.

For context: on the Miami Pre-Construction Delivery Tracker (edition verified 4 August 2026), 14 of 38 towers have no construction loan reported at all. Baccarat has one, reported 29 March 2024, and 40 of its 75 floors were reported decked on 13 March 2026. That is a different risk profile from a project still selling off a rendering. The tracker records a single date move for Baccarat: 2025 in the November 2021 launch release, early 2028 in the reports since March 2024. I have not found a source that says why the date moved.

Sales and price. Related’s release of 28 August 2024 said the tower was 95% sold with select premium residences remaining (PROFILEmiami), and The Real Deal and Commercial Observer reported more than 95% pre-sold on 29 March 2024, with a total sellout over $1 billion (Commercial Observer, citing a Related spokesperson). The developer’s website (read 25 September 2026) says only that penthouse residences are available for exclusive preview and lists no prices. I have not found a percentage newer than August 2024 or a dated price list. Ask for the current figures directly.

The Baccarat Brand Question

Baccarat is a French crystal house created by decree of King Louis XV in 1764 (Related’s launch release, 16 November 2021), and the residential brand arrives here by licence rather than ownership. The developer’s website (read 25 September 2026) says the developer holds a licence to use the Baccarat and Related Group names and marks, that neither company is the Developer, and that if the Baccarat licence terminates the Baccarat names and logos will no longer be used. Baccarat’s own residences page lists Brickell, Miami as coming soon. The fact sheet describes the services as curated by Baccarat Hotels & Residences and managed by SH Hotels & Resorts. I have not found the licence term or the fee structure published. Other branded residences on this site: Frida Kahlo, Four Seasons and Delano.

I have not found a source that says whether a brand fee or the SH Hotels & Resorts management fee is charged to the association, or how either would appear in its budget. Whatever the answer, it is a number to see before you sign rather than after. Ask for the projected association budget with any brand and management fees broken out.

What to Watch Before You Sign

There is a reported lender and visible progress. A $328 million Bank OZK loan was reported on 29 March 2024 and decking was reported at the 40th floor on 13 March 2026. Judge it on the dated record, not the rendering.
Ask for the current sales figure. The latest I found is more than 95% sold, in Related’s release of 28 August 2024.
Ask for the projected association budget with the SH Hotels & Resorts management fee and any Baccarat brand fee broken out.
The riverfront flats and duplexes are a different product from the tower units — different exposure, different views, different resale market. Do not let them be quoted to you at tower comparables or vice versa.
The expected completion date has moved before — 2025 in the November 2021 launch release, early 2028 in the reports since March 2024. Get the outside date in your purchase contract.

The Miami River Around It

Baccarat sits where the Miami River meets Biscayne Bay at the gateway of Brickell Avenue. The developer’s fact sheet lists a landscaped promenade along the river connecting to Miami Circle park, a private marina with over 300 linear feet of dockage and a planned 10,000-square-foot riverfront restaurant, and names Brickell City Centre among nearby attractions.

The corridor is busy. The Real Deal’s review of records (9 November 2023) counted a dozen projects that would add 10,500 condo and apartment units along the Miami River, and called that possibly an undercount. Next door, Viceroy Brickell, the 45-storey tower by the same developers, was reported complete on 6 May 2026 (Florida YIMBY). Related’s third tower is proposed at 444 Brickell Avenue, on a site with an existing 13-storey office building; Florida YIMBY (1 January 2026) reported that height permits were refiled, that demolition was not expected until at least 2028 per late-2024 reporting, and that the site is designated Archaeologically Significant. Elsewhere in Brickell, Cipriani Residences reached 950 feet on 15 July 2026 with occupancy expected in summer 2027 (Markets of Tomorrow, 22 July 2026), and the official website of The St. Regis Residences shows “Now Under Construction” (read 25 September 2026).

Baccarat Residences Miami — Frequently Asked Questions

Where is Baccarat Residences Miami?

The City of Miami permit record lists the construction at 99 SE 5th Street (master permit BD22006164001B001, folio 01-0210-000-1020), on the Miami River where it meets Biscayne Bay. The developer website and fact sheet use 444 Brickell Ave. as the sales address, and Florida YIMBY (13 March 2026) says the tower is widely marketed under that address. On the county roll, 444 Brickell Ave is a separate folio coded as a 13-floor office building, and Florida YIMBY (1 January 2026) reports that a third tower is proposed there. Use 99 SE 5th Street if you are pulling permits or title yourself.

How tall is it and how many residences?

75 storeys. Florida YIMBY gave about 835 feet on 13 March 2026 and 848 feet above ground on 21 July 2024; the sources differ and I have not found which is current. Residences: 360 in the developer fact sheet and in Florida YIMBY (13 March 2026), made up of 324 tower units, 8 penthouses and 28 riverfront flats and duplexes. Related releases in 2024 said 355.

Is Baccarat Residences Miami under construction, and has it topped out?

It is under construction. The City of Miami issued the master building permit on 15 July 2024; it is still Active with no certificate of occupancy listed (queried 25 September 2026). Florida YIMBY reported decking at the 40th floor on 13 March 2026, with portions of the 39th-floor slab still being poured. I found no report of topping out as of 25 September 2026.

When will it be completed?

Reports since March 2024 say early 2028 (PROFILEmiami, 1 April 2024; Commercial Observer, 29 March 2024; Florida YIMBY, 13 March 2026). The November 2021 launch release said 2025, and the developer website gives no date (read 25 September 2026). I have not found a source that says why the date moved.

How much has sold, and what does it cost?

Related said on 28 August 2024 that the tower was 95 percent sold with select premium residences remaining, and Commercial Observer reported on 29 March 2024 that it was more than 95 percent pre-sold with a total sellout above 1 billion dollars. I have not found a newer percentage or a dated price list, and the developer website lists no prices. Ask for the current figures.

Who is building and designing it?

Related Group is the developer, with GTIS Partners as investment partner. The developer website names 444 Brickell One, LLC as the developer of the condominium and says Related Group and Baccarat license their names to it. Arquitectonica is the architect, Meyer Davis did the interiors and Enzo Enea the landscape (developer team page). Florida YIMBY (13 March 2026) names John Moriarty and Associates as general contractor. SH Hotels and Resorts will manage the building.

What does the Baccarat name mean here?

Baccarat licenses its name; it is not the developer. The developer website says the developer holds a licence to use the Baccarat and Related Group names and that if the Baccarat licence terminates the Baccarat names and logos will no longer be used. I have not found the licence term or fees published. Ask for the projected association budget with any brand and management fees broken out.

What does the county roll show?

On 25 September 2026 the county roll shows the construction-site folio at 99 SE 5th Street (01-0210-000-1020) as vacant commercial land of 62,418 square feet with no building value, owned by 444 Brickell One LLC, and shows no unit folios at either address. A sale on 9 December 2013 for 104,000,000 dollars is flagged as a qualified multi-parcel sale, and a deed of 23 February 2023 to 444 Brickell One LLC for 100 dollars is flagged unqualified. The Real Deal reported that Related paid 104 million dollars for the assemblage in 2013.

Sources and further reading

Nine renderings

Inside Baccarat Residences Miami

Developer renderings published by baccaratresidencesmiami.com. Each one checked against the building before use. Verified 28 August 2026.

Developer rendering of Baccarat Residences Miami — the view from a residence, north over brickell and biscayne bay — The view from a residence, north over Brickell and Biscayne Bay

Developer rendering of Baccarat Residences Miami — residence kitchen — Residence kitchen

Developer rendering of Baccarat Residences Miami — primary bedroom — Primary bedroom

Developer rendering of Baccarat Residences Miami — primary bathroom — Primary bathroom

Developer rendering of Baccarat Residences Miami — pool deck — Pool deck

Developer rendering of Baccarat Residences Miami — fitness centre — Fitness centre

Developer rendering of Baccarat Residences Miami — wine tasting salon — Wine tasting salon

Developer rendering of Baccarat Residences Miami — screening room — Screening room

Thinking about Baccarat Residences Miami?

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.

Call (305) 695-8257 Send me a question

Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.com

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