Blue Road's 374-unit William hits 35% sold in North Miami Beach
The pitch is not luxury. It is a new-construction condo priced below the median existing house.
Blue Road and Ilia Development Group’s The William Residences, a 26-story, 374-unit condominium at 2040 NE 163rd Street in North Miami Beach, has reached 35% sold with pricing starting in the mid $400,000s. The number that should interest anyone building for-sale product in South Florida is not the sales percentage. It is the price point.
Why it matters
South Florida’s typical home value was about $475,622 in May 2026, down 2.9% year over year. The William is selling new construction below that figure. New-build condo normally carries a premium to existing single-family stock; here it is trading at a discount, which is what happens when a developer targets the gap between what South Florida households earn and what the resale market asks.
For a developer choosing product type, that inversion is the whole lesson. The absorption is coming from a price band almost nobody is delivering into, in a city that has not seen meaningful new condo supply. Sales launched in late Q3 2025, meaning roughly 131 contracts in about ten months, a pace near 13 units a month. That is a real velocity number for a building of this size at this price.
The numbers
Floor plans run studios through three bedrooms, 552 to 1,412 square feet, across 374 units and 26 stories. Amenities total more than 40,000 square feet, including a rooftop pickleball court, spa, and co-working space. Carlos Ott is lead architect in collaboration with Behar Font & Partners, with interiors by Urban Robot and sales handled by Fortune Development Sales from a gallery at 16251 West Dixie Highway.
The project is EB-5 approved, which matters to the capital stack as much as the sales pace: it gives the sponsor a source of construction equity priced off immigration benefit rather than yield.
“Buyers are ready to look at North Miami Beach differently,” said Jorge Savloff, founder and CEO of Blue Road.
What’s next
The test is whether the next 65% clears at the same pace as prices firm, and whether other sponsors follow into the sub-$500,000 new-construction band or keep chasing the luxury tier where South Florida already has depth. Track North Miami Beach and the wider county at the Miami hub.