After a long build, the world's first all-residential Viceroy just received its TCO and is welcoming first residents. Here's the full breakdown for buyers and investors.
Key Takeaways
- Viceroy Brickell received its Temporary Certificate of Occupancy in May 2026 and is welcoming first residents now.
- Prices currently range from $647K (489 SF studio) to roughly $2M (3BR), with closings active through 2026.
- The building allows 30-day rentals up to 12 times per year — the single most flexible rental program among Brickell's branded towers right now.
The Brickell condo conversation in 2026 has been dominated by what's still being built — 619 Brickell, ORA, Cipriani, Mercedes-Benz Places, Mandarin Oriental, Baccarat, the supertall pipeline that has redefined the skyline. What's gotten less coverage is the building that just *finished*: Viceroy Brickell Residences received its Temporary Certificate of Occupancy in May 2026 and is welcoming its first residents while you read this.
That's significant for three reasons most analysts have under-weighted. First, this is the *world's first fully residential Viceroy-branded building* — every previous Viceroy was a hotel with condos on top. Second, the rental program is among the most flexible in Brickell. And third, in a market where pre-construction buyers are increasingly nervous about delivery risk, Viceroy Brickell offers something rare right now: a brand-new branded tower you can walk through, touch, smell, and move into next month.
If you've been watching the South Brickell condo conversation from the sidelines, this is the one to take seriously.
The Project at a Glance
Project: Viceroy Brickell Residences Address: South Brickell, blocks south of Brickell City Centre Developer: Related Group (Jorge Pérez) Architect: Arquitectonica Interior Designer: Meyer Davis Hotel/Brand Operator: Viceroy Hotels & Resorts Floors: 45 stories Total Residences: 442 condo units plus 56 city flats Sizes: Studios from 489 SF up to 3-bedroom units around 1,600 SF Pricing (as of June 2026): From approximately $647,000 to over $2,000,000 Status: TCO received May 2026, first closings active Rental Program: 30-day minimum rentals, up to 12 per year
What Makes This Building Different
Three structural decisions separate Viceroy Brickell from the 14 other Brickell branded towers in development or recently delivered:
1. It is the world's first fully residential Viceroy. Every previous Viceroy property — Riviera Maya, Snowmass, Beverly Hills — wrapped a hotel around residential floors. This is the first time the brand committed an entire building to ownership. The implication: full-time residents aren't fighting hotel guests for elevator capacity, pool deck space, or concierge attention. The amenities are scaled to 442 ownership households, not 600 nightly guests.
2. The rental program is unusually flexible for Brickell. Twelve 30-day rentals per year — call it twelve full rental months — is more flexibility than most Brickell branded towers offer. The Mandarin Oriental, the Cipriani, the Baccarat all run more restrictive policies. This makes Viceroy Brickell a more investable building for owners who want to use the property part of the year and rent it the rest. (For the broader pre-construction-vs-stabilized comparison, my piece on Baccarat Residences walks through how rental restrictions affect investor math.)
3. Related Group's execution muscle is on display. Jorge Pérez's firm delivered this building through a brutal cycle. Construction continued through interest-rate shocks, a regional banking crisis, and a 13-month condo glut. They got it done. That kind of execution is what separates Tier-1 Miami developers from the rest, and it's why pre-construction buyers pay a premium to buy with them.
Inside the Amenities
Viceroy Brickell delivers approximately 37,000 square feet of amenity space across multiple floors. The 14th floor is the social heart:
- Coffee bar paired with billiards
- Ultramodern business center
- Virtual reality room with Formula 1 and golf simulators
- Resort-style pool with cabanas
- Spa with treatment rooms
- Summer kitchen with barbecue stations
- Bocce court
- Movie theater with stadium seating
- Fitness center with sauna
- Game room
- Cigar humidor lounge
- Wine cellar for private tastings
Services include 24-hour concierge, complimentary valet, electric vehicle charging, 24-hour controlled-access security, and on-site Viceroy-branded hospitality staff. The amenity set is built for actual daily use — not photographable square footage that owners rarely touch.
- Miami Market Snapshot — June 2026:
- Miami-Dade median sale price: $575,000 (96 days avg market time vs 86 a year ago)
- Active inventory: 12,338 units (multi-year high; +97% YoY)
- 46% of U.S. sellers paid concessions in May per Redfin
- Brickell new-construction price-per-SF range: $1,250–$2,400 across active deliveries; Viceroy Brickell sits in the middle of that band
The Investment Math
Let's run numbers on a 2-bedroom unit at approximately $1.35M:
- Down payment (20%): $270,000
- Loan (80%, 30-year fixed at 6.875%): roughly $7,100/month
- Property taxes: ~$1,500/month (Miami-Dade millage applied to $1.35M)
- HOA + Viceroy management fee: ~$1,800/month
- Insurance: ~$280/month
- Total monthly carry: approximately $10,680
Realistic rental income at this building (30-day rentals, Viceroy management cut, average annual occupancy of 65% at a $480/night blended rate): roughly $114,000 in gross annual income, translating to approximately $79,800 net after management fees, cleaning, supplies, and taxes — call it $6,650/month.
So a fully-leveraged buyer carries about $4,000/month net in year one — while building equity through amortization, capturing potential appreciation, and qualifying for accelerated depreciation through cost segregation if the unit is structured as a true short-term rental. That last point is where the Brickell branded-condo math gets aggressive — I covered the mechanics in detail in my piece on the short-term rental tax loophole.
A cash buyer running the same numbers nets approximately $80K of effective income on a $1.35M asset — a 5.9% cash-on-cash yield with brand-managed operations.
Who This Building Is Right For
Viceroy Brickell is the cleanest fit for three buyer profiles:
1. The Miami business owner who travels. You're in Brickell three weeks of the month for work, and your family is in Coral Gables. You buy at Viceroy Brickell as a Tuesday-Thursday foothold, lock in the brand, and rent it for the weeks you're traveling internationally for business.
2. The international investor who wants flexibility. Latin American and European buyers who want Miami exposure with a branded operator handling the rental program. Twelve rental months a year provides serious income while you maintain owner-use rights.
3. The downsizing empty-nester. A 1- or 2-bedroom Viceroy unit, full-service amenities, walking distance to Brickell City Centre, with optional rental income when traveling. The economic case is strong; the lifestyle case is stronger.
Less ideal for: full-time families needing 3+ bedrooms (Viceroy is mostly studios and 1-2BRs), buyers who don't intend to rent (you're paying for an amenity and management infrastructure you won't fully use), and buyers prioritizing trophy address over functional luxury.
Why Now
We're at an interesting moment. As I covered in my June 24, 2026 market update, Miami sits in an unusual condo split: a 13-month inventory overhang on resale, but high demand for new-construction branded product with confirmed delivery. Viceroy Brickell sits exactly at the intersection — *new construction with no delivery risk* — which is structurally rare.
Most of the new inventory under construction across South Brickell delivers 2027–2029. Viceroy is delivering now. That timing arbitrage — buy what's already done while everyone else fights over what won't deliver until the next cycle — is the move I'm steering most of my Brickell investor clients toward.
View the full Viceroy Brickell project on my website where current pricing and availability are updated weekly: carloscabalerealtor.com (the dedicated project page is being added to the new-development directory this week).
Frequently Asked Questions
Q: When can buyers actually move into Viceroy Brickell Residences? A: Now. The building received its Temporary Certificate of Occupancy in May 2026 and first residents are closing through June and July. Available inventory has been climbing through the closings — talk to me about which floors and orientations still have unsold units.
Q: How does the Viceroy Brickell rental program compare to other Brickell branded towers? A: Viceroy Brickell allows 30-day minimum rentals up to 12 times per year — among the most flexible programs in Brickell. The Mandarin Oriental, Baccarat, and Cipriani all run more restrictive policies. For investor buyers, Viceroy is currently one of the most rental-friendly branded buildings in the market.
Q: What are the HOA fees at Viceroy Brickell Residences? A: HOA fees vary by unit size but average approximately $1.25–$1.50 per square foot per month, including building amenities, Viceroy brand management, concierge, valet, and pool operations. On a 900-SF unit expect roughly $1,200–$1,400/month. Confirm current numbers directly with the sales gallery as the fee structure stabilizes through the first year of operation.
Q: Is Viceroy Brickell a good investment for short-term rental income in 2026? A: Yes, if structured properly. The 12-rental-month flexibility, brand-managed operations, and Brickell location all support strong rental yields. A leveraged buyer should expect to operate near break-even monthly while building equity; a cash buyer can target a 5.5%–6.5% cash-on-cash yield. The tax structure — particularly cost segregation and the short-term rental loophole — can push effective returns meaningfully higher.
Whether you're buying, selling, or investing — I've got you.
Partnership Realty / Partnership Realty Inc / +1 (561) 629-0358 / carloscabalerealtor.com
Partnership Realty Editorial
Content Team · Partnership Realty Inc
+1 (305) 340-6251 · partnershiprealtyinc.com