301 Ocean Drive — Key Biscayne's Most Anticipated Luxury Residences

Private sales for the new Key Biscayne oceanfront development at 301 Ocean Drive are expected to launch Fall 2026. Register now for priority access before the public launch.

The development will feature just 56 ultra-luxury residences, making it one of the most exclusive boutique condominium offerings in Miami-Dade County.

The project is a joint venture between Terra Group, led by David Martin, and Fortune International Group, led by Edgardo Defortuna — two of South Florida's most acclaimed luxury developers.

Estimated pricing starts at approximately $4 million for standard residences, with penthouses featuring private pools expected to reach $25 million or more. Official pricing will be released at the Fall 2026 sales launch.

Key Biscayne has seen no new oceanfront condo development in over a decade, creating significant pent-up demand. The $205 million land acquisition signals strong developer confidence in long-term value appreciation.

South Florida pre-construction typically begins with a reservation deposit of roughly 10% at contract, stepping to 20% at groundbreaking and 30–50% total through construction, with the balance due at closing. Official terms are released at the Fall 2026 launch.

Private sales are expected to open in Fall 2026, with construction and closings anticipated for 2028–2029. Buyers close and take title at delivery, not at contract.

New oceanfront Miami condominiums of this caliber typically carry monthly HOA fees in the range of $1.50–$2.50 per square foot, covering amenities, staffing, insurance, and reserves. Final budgets are published with the condominium documents.

Boutique luxury buildings on Key Biscayne generally permit longer-term leasing with minimum lease periods and board approval, and prohibit short-term or nightly rentals. The recorded rental policy will be confirmed in the condominium documents at launch.

Yes. There is no restriction on foreign ownership of U.S. real estate. International buyers may purchase personally, through a U.S. LLC, or through a foreign entity, in cash or with foreign-national financing typically at 50–65% loan-to-value.

Construction-period deposits are paid in cash, so financing applies to the closing balance in 2028–2029. Domestic buyers typically use a private-bank jumbo or portfolio loan at roughly 60–75% loan-to-value, sometimes alongside a securities-backed line of credit for interim deposits. Foreign nationals use foreign-national mortgage programs that generally fund 50–65% of appraised value. Terms are quoted closer to delivery, so obtain an indicative term sheet before contract.