(To read more on the multifamily market, click here.)

MIAMI-Leviev Boymelgreen breaks ground this week for Marquis, a67-story condominium tower at 1100 Biscayne Blvd. that includes asuites hotel. Described as the "flagship" of the Brooklyn, NY-baseddeveloper's announced plan for a $1.5-billion investment in SouthFlorida over the next 10 years, Marquis unit pricing raises thebar.

Marquis will contain 306 residential units, ranging from 1,500sf to 7,000 sf. Pricing begins in the $900,000s and reaches to $11million a unit. A majority of units in the company's Soleil andVitri projects are selling for under $1million. Lynn Coulter,project developer, tells GlobeSt.com the residential component ofthe project is 72% sold. She declined to provide an estimatedconstruction cost, saying, "the bidding process is not yetcomplete."

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