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MIAMI—With condo prices in Miami’s urban core rising, value-driven buyers are looking a little further north—to East Edgewater, a waterfront neighborhood just above Downtown Miami. East Edgewater remained largely overlooked during Miami’s most recent building boom, but the district’s land availability, combined with unobstructed water views is turning heads.

Case in point: Melo Group‘s 165-unit Bay House, one of the newest luxury condos planned for East Edgewater. The project is 50% reserved just three months after launching. Melo reports most of the reservations are coming from foreign buyers looking for quality—and lower prices than what Brickell and Miami Beach have to offer.

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