Palma Residences Miami Beach Location & Neighborhood
666-672 71st Street, Miami Beach, FL 33141
The Neighborhood
What's within reach.
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Atlantic Ocean Walking distance0.3 mi
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North Beach retail Walking distance0.1 mi
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Bal Harbour Shops Short drive1.7 mi
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Lincoln Road Short drive3.0 mi
Life at Palma Residences Miami Beach
North Beach is one of Miami Beach's most rapidly emerging luxury submarkets. The neighborhood's lively atmosphere and cultural diversity make it a vibrant and exciting place to call home. Palma Residences offers a rare investment opportunity in a prestigious oceanfront-adjacent property.
Studio Ramirez Glamorous Interiors
Interiors by award-winning Studio Ramirez — glamorous and refined design philosophy that creates an immediately distinctive sense of arrival. Each residence delivers perfection.
Lefferts North Beach Trilogy
Developed by Lefferts (Galbut Family Office) — same developer as 72 Park (delivered March 2025) and 72 Carlyle (Q4 2028). All North Beach. Strong area development concentration.
13-Story Boutique Density
13 stories with just 126 residences — boutique density for a North Beach mid-rise. Among the area's most refined offerings.
7,000 sq ft of Ground-Floor Commercial
Ground-floor commercial space activates the street and provides residents with retail/dining amenities. 40 parking spaces and 140 bicycle spaces.
Phased Payment Plan
Owner-friendly phased payment structure: 20% at contract, 10% at ground-breaking, 10% at pool deck level, 10% at top-off, 50% balance at closing (Q4 2027). Spreads investment over construction timeline.
Palma Residences Miami Beach Investment & Market Outlook
Why Miami Beach Pre-Construction Outperforms
South Florida pre-construction has historically delivered double-digit appreciation between contract and delivery, especially in branded residences. Miami Beach specifically has seen sustained demand from international buyers seeking US dollar-denominated real estate, tax advantages from Florida's no-income-tax structure, and currency hedging against home-market inflation.
Branded residences like Palma Residences Miami Beach typically command 25–35% price premiums over comparable non-branded inventory in the same submarket, and resale price retention has consistently outpaced the broader Miami condo index over the past decade.
Friends & Family Pricing
As pre-construction specialists with direct developer relationships, we offer qualified buyers access to friends-and-family pricing — typically 4–8% below current public release pricing — along with extended deposit schedules, custom unit selection, and priority on the most desirable exposures and floors.
Deposit Structure
Standard Miami Beach pre-construction deposit structures range from 20% at contract to 50% by delivery, with milestone payments at groundbreaking, top-off, and certificate of occupancy. Palma Residences Miami Beach follows the Miami Beach market standard. Our team can walk you through the full deposit schedule and any current developer incentives reducing the at-contract deposit requirement.
How to Reserve a Residence at Palma Residences Miami Beach
Pre-construction purchases follow a different path than resale transactions. Here's what to expect, step by step.
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01
Initial Consultation
We start with a 30-minute call to understand your goals — primary residence, investment, legacy asset — and walk you through current availability, pricing tiers, and the floor plans best suited to your needs.
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02
Floor Plan Selection & Reservation
Once you've narrowed your selection, a refundable reservation deposit (typically $25,000–$100,000) holds your residence for 14–30 days while contracts are prepared. You'll receive the full developer reservation package and the most current pricing for your specific unit.
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03
Contract & First Deposit
The purchase contract is executed with the developer, and the first deposit (typically 10–20% of the purchase price) is wired to the developer's escrow account at a Florida-licensed institution. All funds are protected under Florida pre-construction escrow law until milestones are reached.
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04
Construction Milestones
Subsequent deposits are released as construction reaches defined milestones — typically groundbreaking, top-off, and certificate of occupancy. You'll receive quarterly construction updates, photo documentation, and the option to tour the unit once interiors are roughed in.
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05
Closing & Delivery
At closing, the final balance is funded (cash or financing via approved lenders), title transfers, and you receive keys. Closing typically occurs 30–60 days after the developer issues the certificate of occupancy. Move-in coordination, designer access, and Mercedes-Benz/Bentley/Armani concierge enrollment all happen at this stage.
Palma Residences Miami Beach FAQs
Answers to the most common questions about Palma Residences Miami Beach pricing, amenities, and policies. For anything else, our team is here to help.
How much do Palma Residences cost?
Palma Residences Miami Beach pricing starts at $650,000. One-bedrooms from $650K (468 sq ft), 1BR + dens from $750K, two-bedrooms from $950K, premium 2BRs $1.2M (1,086 sq ft).
Who developed Palma Residences?
Palma Residences Miami Beach is developed by Lefferts — part of the Galbut Family Office company. Lefferts is also developing 72 Park Miami Beach (delivered March 2025) and 72 Carlyle Miami Beach (Q4 2028 completion) — all three are North Beach properties.
Who designed Palma Residences?
Interior design by award-winning Studio Ramirez — known for glamorous and refined interiors.
When will Palma be completed?
Palma Residences is in construction with completion targeted for Q4 2027.
How many residences does Palma have?
126 luxury condominium residences across 13 stories. One- and two-bedroom layouts ranging from 468 to 1,086 sq ft.
What's included in each residence?
Balconies, glamorous and refined Studio Ramirez interior design, premium finishes throughout.
What are the amenities?
Terrace with landscaped pool deck, seating, cabanas, and bar. 40 vehicle parking spaces. 140 bicycle parking spaces. 7,000 sq ft of ground-floor commercial space activating the street.
What is the payment plan?
Palma Residences offers a phased payment plan: 20% at contract, 10% at ground-breaking, 10% at pool deck level, 10% at top-off, and 50% balance at closing (Q4 2027). This spreads the investment over the construction timeline.
