Why Buy at Canvas Miami?
Canvas Miami represents one of the strongest value propositions in Miami’s condo market. Located at 1600 NE 1st Ave in the rapidly appreciating Arts & Entertainment District, this 37-story tower by NR Investments offers luxury living at a fraction of what comparable buildings command in Brickell or Edgewater’s bayfront towers.
With 513 residences, a full suite of amenities, and a walkable location near Wynwood and the Design District, Canvas Miami attracts both owner-occupants seeking lifestyle value and investors pursuing strong rental income.
Current Pricing Overview (2026)
| Unit Type | Price Range | Price Per Sq Ft | Size Range |
|---|---|---|---|
| Studio | $300,000 – $380,000 | $480 – $560 | 620 – 680 sq ft |
| One-Bedroom | $380,000 – $520,000 | $520 – $600 | 720 – 860 sq ft |
| Two-Bedroom | $520,000 – $720,000 | $550 – $650 | 950 – 1,110 sq ft |
Prices reflect active MLS listings and recent sales as of early 2026. Visit our units for sale page for current availability.
Price Per Square Foot Context
At $480–$650 per square foot, Canvas Miami sits well below the Edgewater average of $700+ and significantly under Brickell’s $900+ average. This pricing gap, combined with the building’s modern construction (completed 2019) and comprehensive amenities, makes it attractive for buyers seeking below-market entry into Miami’s waterfront condo market.
HOA Fees: What’s Included
| Unit Type | Monthly HOA | Per Sq Ft |
|---|---|---|
| Studio | $450 – $520 | $0.72 – $0.76 |
| One-Bedroom | $520 – $650 | $0.72 – $0.76 |
| Two-Bedroom | $690 – $850 | $0.72 – $0.77 |
What HOA Covers
- Water and sewer
- Building insurance (master policy)
- All common area maintenance
- Three swimming pools and rooftop deck
- Fitness center, sauna, and steam room
- 24/7 concierge and security
- Lobby and hallway maintenance
- Elevator maintenance
- Landscaping and exterior upkeep
- Reserve fund contributions
What HOA Does NOT Cover
- Electricity (FPL — typically $80–$150/month)
- Internet and cable (Xfinity/AT&T available)
- Individual unit insurance (HO-6 policy)
- Property taxes
The Purchase Process
Buying a condo at Canvas Miami follows Florida’s standard resale condo process:
Step 1: Get Pre-Approved
Most lenders require 20–25% down payment for condo purchases. Canvas Miami is approved by major lenders including conventional (Fannie Mae warrantable) and portfolio loan programs.
Step 2: Tour and Select Your Unit
Review our floor plans and schedule a showing. Consider floor level, view direction, and layout preferences.
Step 3: Make an Offer
Work with your agent to submit a purchase offer. In the current market, well-priced units receive offers within 30–60 days of listing.
Step 4: Due Diligence
Review the condo association documents, financial statements, and reserve study. Florida law provides a 3-day rescission period after receiving HOA documents.
Step 5: Close
Typical closing timeline is 30–45 days from accepted offer. Closing costs in Florida typically run 2–3% of purchase price for buyers.
Investor vs. Owner-Occupant Considerations
For Investors
- Rental demand is strong — Canvas Miami’s location and amenities attract young professionals
- Expected gross rental yield: 5.5–7.0% depending on unit type
- Short-term rentals: check current HOA policy (minimum lease terms may apply)
- No rental cap — building allows investor ownership without percentage restrictions
For Owner-Occupants
- Homestead exemption available for primary residence (significant property tax savings)
- Florida has no state income tax — additional savings for high earners
- Strong appreciation potential as A+E District continues to develop
- Lifestyle benefits: pools, fitness, co-working, and walkable neighbourhood
Financing Options
Canvas Miami is eligible for multiple financing programs:
- Conventional (20–25% down) — best rates, Fannie Mae warrantable
- Portfolio loans (15–20% down) — available through local banks
- Foreign national loans (30–40% down) — for international buyers
- Cash purchases — faster closing, no appraisal required
Ready to Buy?
Browse available units for sale at Canvas Miami or contact us for a personalized consultation. Our team can help you identify the right unit for your goals, whether you’re buying to live or investing for rental income.
Learn more about the City of Miami’s property tax rates and homestead exemption programs to understand your total cost of ownership.
Interested in Canvas Miami?
Browse available residences or schedule a private viewing.