Tula Residences North Bay Village Location & Neighborhood
7918 West Drive, North Bay Village, FL 33141
The Neighborhood
What's within reach.
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Biscayne Bay (waterfront) Direct bayfront0.05 mi
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Treasure Island Park Walking distance0.3 mi
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South Beach Short drive2.5 mi
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Bal Harbour Shops Short drive2.5 mi
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Aventura Mall Short drive4.5 mi
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Miami Design District Short drive3.5 mi
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Miami International Airport Short drive8.0 mi
Life at Tula Residences North Bay Village
Perfectly situated in Biscayne Bay at the midpoint between Miami and Miami Beach, the tiny three-island city of North Bay Village covers 525 scenic acres and commands stunning views of the city, bay, and ocean. The neighborhood was rezoned in 2020 and is undergoing dramatic transformation — Tula's head start makes it the first new residential tower to be completed.
First New NBV Condo in Over a Decade
Tula Residences is on track to be the FIRST newly completed condominium building in North Bay Village in over a decade. Definitive first-mover status in the rezoning-fueled boom.
All-Corner Residences
Floors 7-19 feature 48 corner-only residences with no more than 4 units per level — guaranteeing unobstructed water and skyline vistas from every home. Maximum natural light and privacy.
$67M S3 Capital Construction Loan
Vivian Dimond's Bayshore Grove Capital secured a $67 million construction loan from S3 Capital in December 2025. S3 Capital (Robert Schwartz, Joshua Crane) is among South Florida's most active condo construction lenders.
Bayshore Grove Capital Pedigree
Coconut Grove-based real estate development and private equity firm Bayshore Grove Capital — led by 40-year industry veteran Vivian Dimond — has 1,500 residential units in its development pipeline. Took over the project from Pacific & Orient in late 2024 with upgraded plans.
525-Acre Three-Island City
North Bay Village is a tiny three-island city covering 525 scenic acres in Biscayne Bay between Miami and Miami Beach. Stunning views of the city, bay, and ocean from every angle. Treasure Island Park nearby for picnics and boat watching.
Tula Residences North Bay Village Investment & Market Outlook
Why North Bay Village Pre-Construction Outperforms
South Florida pre-construction has historically delivered double-digit appreciation between contract and delivery, especially in branded residences. North Bay Village 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 Tula Residences North Bay Village 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 North Bay Village pre-construction deposit structures range from 20% at contract to 50% by delivery, with milestone payments at groundbreaking, top-off, and certificate of occupancy. Tula Residences North Bay Village follows the North Bay Village 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 Tula Residences North Bay Village
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.
Tula Residences North Bay Village FAQs
Answers to the most common questions about Tula Residences North Bay Village pricing, amenities, and policies. For anything else, our team is here to help.
How much do Tula Residences cost?
Tula Residences pricing starts at $1.995 million for two-bedroom residences (1,590 sq ft). 2BR + dens from $2.6M, three-bedrooms from $2.995M (up to 2,440 sq ft). Five-bedroom penthouses from $5.995M (up to 4,140 sq ft). Maximum tier $6.9M+.
Who is developing Tula Residences?
Tula Residences was revived by Coconut Grove-based Bayshore Grove Capital — led by 40-year real estate industry veteran Vivian Dimond. The project was originally launched by Malaysian developer Pacific & Orient (led by CEO Thye Seng Chan) who remains a partner but is no longer involved in construction. Bayshore Grove Capital secured a $67 million construction loan from S3 Capital in December 2025.
Who designed Tula Residences?
Architecture by MTTR MGMT (also styled as M77R). Interior design by Shannon Farrell Design — blending sleek modernity with organic warmth.
When will Tula Residences be completed?
Tula Residences is currently under construction with closings expected to commence in 2026 (Q4 2026 target). Construction restarted in early 2025 under Bayshore Grove Capital after a 2023-2024 stall.
How many residences does Tula have?
54 residences total: 48 all-corner residences spanning floors 7-19 (no more than 4 units per level) plus 6 penthouses on floors 20-22. Layouts span 2-bedroom, 2-bedroom + den, 3-bedroom, and 5-bedroom + den penthouses. Sizes 1,590 to 4,140 sq ft.
What's included in each residence?
Wraparound glass terraces, Italian-designed kitchen interiors with Miele appliances, stone floors, 10-ft ceilings, open-concept layouts, floor-to-ceiling windows, panoramic Biscayne Bay views, no more than 4 units per level for maximum privacy.
What is the payment plan for Tula?
Tula Residences payment plan: 20% at contract signing, 10% six months after contract, 70% at closing (expected Q4 2026).
Why was Tula previously stalled?
Tula Residences was originally launched as 7918 West Drive by Malaysian developer Pacific & Orient. Construction stalled in late 2023 due to financial and legal complications, including a nearly $7 million lien filed by the former general contractor Thornton Residential. Bayshore Grove Capital (Vivian Dimond) took over the project in late 2024 and has revitalized it with upgraded design and a $67M construction loan.
