Miami Real Group
Andres Vieira · Founder & Vision Architect · Florida License #3357603 · Real Brokerage Inc. · NASDAQ: REAX · 1000 Brickell Ave Suite 715 · Miami FL 33131 · invest@miamirealgroup.com · +1 786-254-8075

MRG Intelligence · Building Intelligence · Icon Brickell · 2026

Icon Brickell Condos: Prices, HOA, and Investment Analysis 2026

Icon Brickell is a three-tower waterfront complex at the mouth of the Miami River, completed 2008 to 2010 by the Related Group. In 2026 it trades at a median closed price near $890,000 and roughly $678 per square foot, with elevated inventory but a rare advantage: fully funded reserves and zero special assessments while many older towers face six-figure assessment shocks.

Andres Vieira·Florida License #3357603·Miami Real Group
Median Closed Price
$890,000
Median Closed PSF
$678 / sf
Active Listings
140 units
Months of Supply
27 to 34 mo
Special Assessments
Zero
Source: MRG Intelligence · Data: June 2026 · Updated by MRG IntelligenceMethodology: Data aggregated from Miami MLS, Miami-Dade & Broward County deed records, developer sales disclosures, pre-construction reservation data, Zillow, Redfin, Realtor.com, and CoStar. MLS alone captures approximately 50–60% of South Florida luxury transactions. MRG Intelligence incorporates non-MLS cash transactions, off-market closings, and new development sales to provide a complete market picture.

Source: MRG Intelligence. Sources cited per figure: David Siddons Group Q1 2026, CondoBlackBook, Miami Condo Investments, Redfin, Realtor.com, association and MLS records. Data: June 2026.

The Complex

Icon Brickell spans 465, 475, 485, and 495 Brickell Avenue. Tower 1 (465/475) and Tower 2 (495) are 57-story residential towers. Tower 3 (485) is the W Miami, a condo-hotel. The towers share a two-acre elevated plaza with a 300-foot pool and a 28,000 square foot spa.

The Correction in One Line

Tower 3 average price per square foot rose from $788 in 2022 to a $861 peak in 2024, then fell to $711 by mid-2026 as active inventory climbed to between 27 and 34 months across the towers. The spread between active asking ($703/sf) and closed ($678/sf) is tight, showing sellers have adjusted to current conditions.

Tower 3 (W Miami) average price per square foot
Annual average closed PSF, 2022 to 2026 YTD.

What Actually Closed

Across 14 verified closings in the past 180 days, prices ranged from $561 to $1,055 per square foot. Higher floors and the 01 line in Tower 1 commanded the top values. Units that lingered past 230 days closed at the largest discounts to asking.

Net price per square foot vs days on market
Each point is one closed unit. Red points closed below $600/sf.

How Icon Compares

At roughly $695 per square foot, Icon trades below newer Brickell towers: Reach at $804, Rise at $845, SLS Lux at $853, and Brickell Flatiron at $1,114. The gap reflects Icon's late-2000s construction era against newer, higher-amenity buildings.

Average closed price per square foot, 2026
Cyan highlights Icon. Neutral bars are newer comp buildings.

Financial Health: The Edge

Icon Brickell carries fully funded structural reserves and no active special assessments. Its current facade and stucco restoration, scheduled for completion between October and December 2026, is funded from existing reserves rather than a special assessment. Monthly HOA runs roughly $0.70 to $1.10 per square foot.

RESERVE HEALTH
Fully funded reserves. Zero special assessments.
Multimillion-dollar facade and stucco restoration is funded from existing reserves rather than a one-time owner assessment. Restoration work is scheduled to complete between October and December 2026. In a market where assessment shock is the main hidden danger, Icon Brickell's clean financial position is a meaningful risk reducer.
UNIT 1801 CARRY
HOA: $1,637 / month
Property tax: $24,212 / year
UNIT 3505 CARRY
HOA: $1,435 / month
Property tax: $16,148 / year

Rental Rules by Tower

Towers 1 and 2 allow long-term leasing only, typically six to twelve month minimums with association approval. Tower 3, the W Miami, permits short-term rentals with a seven-day minimum under a condo-hotel structure, requiring state and county licensing.

TOWER 1
465 / 475 Brickell
Long-term only
Six to twelve month minimum lease with association approval. No short-term rentals.
TOWER 2
495 Brickell
Long-term only
Six to twelve month minimum lease with association approval. No short-term rentals.
TOWER 3 (W MIAMI)
485 Brickell
Short-term allowed, 7-day minimum
Condo-hotel structure. Operators must hold full state and county licensing before listing.
DBPR Vacation Rental LicenseFL Sales TaxMiami-Dade Tourist TaxCity of Miami CUBTR

MRG Advisory Position

Icon Brickell shows the divide reshaping Brickell: building financial health now matters more than address. Tower 3 prices per square foot fell from $861 in 2024 to $711 in 2026 as inventory climbed past 30 months, yet the complex carries fully funded reserves and no special assessments even while completing a multimillion-dollar facade restoration. We advise buyers to weigh the carry cost and reserve position of any building before price, and to treat Icon's clean financials as a meaningful risk reducer in a market where assessment shock is the main hidden danger.

Six Things to Know About Icon Brickell

Factor 01

Three towers, one address

Icon Brickell spans 465, 475, 485, and 495 Brickell Avenue. Tower 1 (465/475) and Tower 2 (495) are 57-story residential towers. Tower 3 (485) is the W Miami, a condo-hotel. The towers share a two-acre elevated plaza with a 300-foot pool and a 28,000 square foot spa.

Factor 02

Pricing has corrected

Tower 3 average price per square foot rose from $788 in 2022 to a $861 peak in 2024, then fell to $711 by mid-2026 as active inventory climbed to between 27 and 34 months across the towers. Active asking sits at $703 per square foot against $678 closed, a tight spread that shows sellers have adjusted.

Factor 03

What actually closed

Across 14 verified closings in the past 180 days, prices ranged from $561 to $1,055 per square foot. Higher floors and the 01 line in Tower 1 commanded the top values. Units that lingered past 230 days closed at the largest discounts to asking.

Factor 04

Cheaper than the new towers, for a reason

At roughly $695 per square foot, Icon trades below Reach ($804), Rise ($845), SLS Lux ($853), and Brickell Flatiron ($1,114). The gap reflects Icon's late-2000s construction era against newer, higher-amenity buildings.

Factor 05

The financial edge: clean reserves

Icon Brickell carries fully funded structural reserves and no active special assessments. Its current facade and stucco restoration, scheduled October to December 2026, is funded from existing reserves rather than a special assessment. Monthly HOA runs roughly $0.70 to $1.10 per square foot.

Factor 06

Rental rules split by tower

Towers 1 and 2 allow long-term leasing only, typically six to twelve month minimums with association approval. Tower 3, the W Miami, permits short-term rentals with a seven-day minimum under a condo-hotel structure and requires state and county licensing.

Frequently Asked Questions

What is the price per square foot at Icon Brickell in 2026?

Closed sales over the past 180 days averaged about $678 per square foot, with a range of roughly $561 to $1,055 depending on tower, floor, and line.

Does Icon Brickell have special assessments?

No. Icon Brickell carries fully funded reserves and no active special assessments, and is funding its current facade restoration from existing reserves rather than assessing owners.

Can you do short-term rentals at Icon Brickell?

Only in Tower 3, the W Miami at 485 Brickell, which permits a seven-day minimum under a condo-hotel structure with proper licensing. Towers 1 and 2 are long-term only.

How does Icon Brickell compare to newer Brickell condos?

Icon trades near $695 per square foot, below Reach ($804), Rise ($845), SLS Lux ($853), and Brickell Flatiron ($1,114), reflecting its 2008 to 2010 construction era.

Source: David Siddons Group Q1 2026, CondoBlackBook, Miami Condo Investments, Redfin, Realtor.com, association and MLS records · Data: June 2026 · Updated by MRG IntelligenceMethodology: Data aggregated from Miami MLS, Miami-Dade & Broward County deed records, developer sales disclosures, pre-construction reservation data, Zillow, Redfin, Realtor.com, and CoStar. MLS alone captures approximately 50–60% of South Florida luxury transactions. MRG Intelligence incorporates non-MLS cash transactions, off-market closings, and new development sales to provide a complete market picture.

Related MRG Intelligence

Request an Icon Brickell Unit-Level Analysis from Miami Real Group

Watch & Stay Informed