# New Wave

As of 2026-10-21, New Wave in Edgewater has 7 units for sale at a median asking price of $645K ($678/sqft); 8 units sold in the last 12 months.

New Wave is a boutique waterfront condominium in the heart of Edgewater designed by architect Kobi Karp.

## Key facts

| | |
|---|---|
| Address | 725 NE 22nd St |
| Neighborhood | Edgewater |
| Year built | 2006 |
| Floors | 20 |
| Units | 76 |
| Waterfront | yes |
| Developer | Cardinal Development |
| For sale | 7 |
| Pending | 0 |
| Median asking price | $645,000 |
| Median asking $/sqft | $678/sqft |
| Sold, last 12 months | 8 |
| Median sold $/sqft, 12 months | $647/sqft |
| Months of inventory | 10.5 |
| Median HOA | $1,345/mo |
| Parking | The building offers covered parking, including assigned and valet options, with some units including one or two covered spaces. |

## Own Miami measures

- **own.miami Building Score: 67 (B+)**
  - Value: 48 — $678/sqft — vs. Edgewater condos, then all of Miami
  - Momentum: 59 — +3.1% $/sqft over 6 months
  - Liquidity: 51 — 10.5 months of supply · 82 days on market
  - Health: 100 — Verified records on file — nothing adverse
  - Waterfront: 90 — Waterfront building
  - Age: 47 — Built 2006 — vs. Edgewater buildings
- **Own Miami Condo Index: 96** (market; 100 = the market-median building, 200 = twice its $/sqft; rank 372 of 698 tracked Miami condos)
- **Financeability Index: 87** (strong; 12-month window, 8 recorded mortgages, 100% of sales bank-financed, lowest down payment 10%, as of 2026-10-31)
- Special-assessment outlook: watch (next structural milestone inspection due 2031)

## Building health (verified public records)

- Public records checked 2026-10-29: no liens, lawsuits or regulatory complaints found
- positive: Bank financing — Regulated lenders recorded 8 purchase or refinance loans on this building in the last 12 months, financing 100% of its recorded sales, and accepted a down payment as low as 10%. A bank writing a condominium loan has just checked the building's reserves, insurance, litigation and owner-occupancy against its own standards — verified due diligence, read from the public record. Financeability Index 87/100. (2026-10-31)
- info: Special assessment reported as paid — noted on 1 listings (2026-09-11)
- Legal & regulatory: 0 material cases active, 0 disputes active, 1 DBPR complaints (36 months)

## Frequently asked questions

**How much do condos at New Wave cost?**

There are 7 condos for sale at New Wave, from $524,900, with a median asking price of $645,000 ($678/sqft).

**How much are the HOA fees at New Wave?**

HOA / maintenance fees at New Wave run around $1,345 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.

**Is New Wave a waterfront building?**

Yes — New Wave is a waterfront building (Edgewater).

**When was New Wave built?**

New Wave was built in 2006, 20 stories, 76 residences.

**Who developed New Wave?**

New Wave was developed by Cardinal Development.

## Related pages

- [Edgewater — neighborhood guide](https://own.miami/edgewater)
- [All units for sale at New Wave](https://own.miami/buildings/new-wave/for-sale)
- [Quantum on the Bay](https://own.miami/buildings/quantum-on-the-bay)
- [Blue on the Bay](https://own.miami/buildings/blue-on-the-bay)
- [1800 Club](https://own.miami/buildings/1800-club)
- [Icon Bay](https://own.miami/buildings/icon-bay)

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Source: Own.Miami — https://own.miami · data as of 2026-10-21
Canonical page: https://own.miami/buildings/new-wave
License: CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/
Methodology: https://own.miami/methodology · For AI assistants: https://own.miami/for-ai