Quick answer: Three facts govern this building and none of them is the price. It was Everglades on the Bay before it was Vizcayne, so its transaction history sits under two names and neither set is complete. It holds about 846 residences, the largest count in this series. And a 2008 completion puts its first milestone inspection near 2033, inside a normal hold. Address-level comparables, the reserve study, and the association structure are the three documents that decide this purchase.
A rename splits the record in two
This is the second building in this series whose transaction history is divided by a name change. The first was Dua Miami, formerly SLS Brickell, and the problem is identical here.
Search Everglades on the Bay and you find one slice of sold records, rental history and listings. Search Vizcayne and you find another. An appraiser, a lender or a buyer working from either name alone is working from partial data on an 846-residence building.
The fix costs one query and removes the whole class of error:
| Do this | Not this |
|---|---|
| Pull comparables by folio and address, 244 Biscayne Boulevard and 253 NE 2nd Street | search by project name |
| Take the residence count from the declaration’s schedule of units | take it from a listing site |
| Check both names when reviewing historical rental performance | assume one search covered it |
The rename matters more here than at a small building because of scale. With around 846 residences the transaction record is large, and a comparable set drawn from half of it will still look plausible while being wrong. A price per foot derived from one name’s records is not a price per foot for this building.
Eight hundred and forty-six residences
| Building | Residences | Completed |
|---|---|---|
| Vizcayne | about 846 | 2008 |
| Axis Brickell | about 718 | 2008 |
| Quantum on the Bay | 698 | 2008 |
| Brickell Flatiron | 527 | 2019 |
| 900 Biscayne Bay | 516 | 2008 |
This is the largest residence count in the series, and the three effects are the familiar ones at their strongest.
Cost per owner falls. Management, master insurance, staffing, lift maintenance and common-area energy divide across a very large group. Large 2008 Downtown towers consistently carry lower dues per foot than boutique buildings with comparable facilities.
Pricing power falls with it. There is always inventory listed for sale and for rent. No individual seller sets the price and no individual landlord sets the rent; the building does, at whatever its most motivated participant accepts this month.
Any assessment divides widely. Seven years from a milestone inspection that is a genuine protection, and it is the one advantage of scale that matters most on a building of this vintage.
Note also that floors 2 to 7 hold flats and lofts while floors 8 to 49 hold conventional residences. Establish which product your unit is, because loft layouts, ceiling heights and the tenant pool they attract differ from the tower floors above, and comparables should be drawn from the same product rather than from the building as a whole.
2033 is inside your ownership
A 2008 certificate of occupancy places the first milestone inspection near 2033 under the 25-year trigger that applies within three miles of a coastline, and it repeats every ten years after that.
Seven years out means the structural integrity reserve study should exist or be imminent, and the funding decision should be visible in the dues line. Three documents answer the question:
| Document | What it tells you |
|---|---|
| Structural integrity reserve study | expected scope and cost |
| Reserve funding percentage | how much is already collected |
| Three years of dues history | whether the board is funding or deferring |
Ask directly about any special assessment levied, pending or discussed at board level in the last twenty-four months, and request the relevant minutes. Boards discuss assessments long before they levy them.
On an 846-residence building an assessment per owner is smaller than it would be in a boutique tower, but the total figure behind it is larger. Both numbers matter, and only the study gives you either.
Read the dues before calling them cheap
Dues include Hotwire cable, water, sewer and trash removal, the same bundling used at Quantum on the Bay and 900 Biscayne Bay.
Before comparing this building with anything else, rebuild both sides: take the quoted dues here as covering those services, then add the comparison building’s typical internet, cable, water, sewer and trash to its own figure. Only then compare totals.
Ask the manager to split three years of increases into reserve contribution and insurance premium. Coastal condominium master policies have repriced every year since 2022 and sit inside the dues, so a rising line can mean prudent reserve funding, insurance, or both, and only the breakdown distinguishes them. On a building approaching its first inspection that distinction is the most useful number available. See the Florida property insurance guide.
Two towers, one question
Two 49-floor towers at 244 Biscayne Boulevard and 253 NE 2nd Street. Establish which tower the residence sits in and which association governs it, because Florida structures two-tower projects both ways: one condominium across both, or separate condominiums with a shared arrangement.
The consequence is direct. Separate associations mean separate budgets, separate reserve studies and separate assessments, and two towers on one podium can arrive at 2033 in very different financial condition. We found registered separate associations at Quantum on the Bay and raised the same question at Axis Brickell and Oceana Bal Harbour.
A reserve study for the wrong tower is worse than none, because it produces confidence about a bill someone else will pay.
Two lettings a year, six-month floor
Owners may let twice per year with no lease shorter than six months, placing Vizcayne in the strict tier alongside Quantum on the Bay, Echo Brickell and the Miami Beach oceanfront stock.
The model is one annual tenant, with a second permitted only if the first ends early. No seasonal pricing, no corporate medium-stay, no covering a summer gap.
Combined with the standing supply that 846 residences produce, this is an annual-lease asset competing against a deep pool of near-identical inventory. That is a coherent long-hold position at a low entry price, and it is not a yield story with any upside from flexibility. Confirm the clause in the recorded declaration with amendments.
Financing a large 2008 tower
Two lender questions apply. Reserve funding, which post-2021 sits on every project questionnaire and which on a 2008 building approaching its inspection is the number under pressure. And investor concentration, since large Downtown towers historically carry a high proportion of rented residences.
Obtain a written project eligibility determination before offering. Where a project is non-warrantable the conventional thirty-year loan is unavailable building-wide, leaving cash, portfolio lending or a DSCR loan underwritten on rent at a larger deposit. Overseas buyers work through foreign national mortgage programmes. For the wider market see the Miami area page.
Verification checklist before you wire
- Pull comparables by folio and address, and search both Vizcayne and Everglades on the Bay when reviewing history.
- Establish which tower the residence is in and which association governs it.
- Get that association’s reserve study and current funding percentage.
- Request three years of dues history split into reserve contribution and insurance premium.
- Ask about any special assessment levied, pending or discussed in the last twenty-four months.
- Establish whether the residence is a lower-floor loft or a tower-floor unit, and draw comparables from the same product.
- Confirm the two-lettings and six-month minimum in the recorded declaration.
- Obtain a written lender project eligibility determination addressing reserves and owner-occupancy.
Which buyer this building suits
It suits a long-hold owner or landlord who wants a Downtown Miami address at one of the lowest entry points in this series, will let annually, and is prepared to underwrite the 2033 inspection as a known event with documents rather than hope. The scale that limits pricing power also spreads any assessment widely, which on a 2008 building is worth something real.
It suits a buyer wanting flexibility or scarcity poorly. The letting rule permits only an annual tenant, and 846 residences is the opposite of scarce. Start with the address-level comparables and the reserve study. Everything else about this building is ordinary diligence on a large, well-located tower of its vintage.
Frequently Asked Questions
Yes. The development was originally marketed as Everglades on the Bay before being renamed Vizcayne. Sold records, rental history and listings therefore appear under two names, and neither set alone is complete. Pull comparables against the folio and address at 244 Biscayne Boulevard and 253 NE 2nd Street rather than against either name.
Two towers of 49 floors each, 538 feet tall, holding about 846 residences in total, with the North Tower carrying around 440. Floors 2 to 7 hold flats and lofts and floors 8 to 49 hold conventional condominium residences. Architecture is by Fullerton Diaz Architects.
A 2008 completion places the first milestone inspection near 2033 under the 25-year trigger for buildings within three miles of a coastline, and it repeats every ten years thereafter. That falls inside a normal ten-year hold, so the reserve study and funding percentage are live documents for a buyer today.
Owners may rent a maximum of two times per year with no lease shorter than six months. That is the strict tier, the same as Quantum on the Bay and Echo Brickell, and it means an annual-lease asset with no seasonal or medium-stay model.
Basic cable through Hotwire, plus water, sewer and trash removal, are included in the association dues. As with the other large 2008 Downtown and Edgewater towers, that bundling inflates the headline figure relative to buildings that bill those separately, so add them back before comparing.
Establish it from the documents before offering. Two-tower developments in Florida are structured both ways, and the answer determines whose budget, whose reserve study and whose future assessment apply to your residence, which matters a great deal on a building seven years from its first inspection.
Get address-level comparables and the reserve study at Vizcayne
Tell us which tower and residence type you are considering. We will come back with sold records under both the Vizcayne and Everglades on the Bay names, which association governs your tower, its reserve funding percentage, three years of dues split into reserves and insurance, and any assessment history.