The Charter Club on the Bay is Edgewater's original high-rise condominium, built in 1973 on over 6 acres of prime bayfront land. This 23-story, 456-unit building was a landmark when it opened, famously wrapped in a giant red ribbon for its grand opening and earning the nickname 'The Red Ribbon Condominium.' The building features a mix of studios, one-bedroom, and two-bedroom units ranging from 757 to 1,850 square feet, with many units offering direct bay views toward Miami Beach. Amenities include a heated pool, jacuzzi, two tennis courts, basketball and handball courts, a fitness center, and an on-site mini-mart. However, the building has not undergone a comprehensive renovation since it was built, and the common areas, amenities, and unrenovated units are extremely dated. The Charter Club is currently facing a decision point: proceed with a planned full exterior glazing replacement (all windows and doors) that will take multiple years, or entertain developer buyout offers for its massive waterfront land parcel. The building's 6-plus acres of bayfront real estate make it one of the most valuable development sites in Edgewater.
The Charter Club has a diverse mix of long-term owner-occupants who have lived in the building for decades, investors renting out units, and newer residents attracted by the relatively low prices and waterfront location. The demographic skews older, with many retirees and empty nesters who bought in the building years ago. There is also a growing contingent of younger renters and investors who see the buyout potential. The building has a more laid-back, old-school Miami vibe compared to the newer towers in Edgewater.
The Charter Club sits in northern Edgewater on over 6 acres of prime bayfront land. The neighborhood is undergoing rapid transformation with new luxury developments reshaping the skyline in every direction. Biscayne Boulevard is a few blocks west with Target, The Shops at Midtown, and a growing collection of restaurants and services. The Design District is about a mile away for high-end shopping. The area is quieter than central Edgewater but is increasingly surrounded by new construction.
Over 6 acres of direct bayfront property with water views to Miami Beach.
Major retail center with Target, restaurants, and shops.
High-end shopping district with flagship stores, galleries, and restaurants.
Growing dining and nightlife corridor with diverse options.
Free automated transit connecting to Downtown and Brickell. Approximately 15 blocks south.
Northern Edgewater is entering a major development cycle. The row of older condo buildings directly to the north of The Charter Club will likely be buyout targets in the next 5 to 10 years, with potential for full redevelopment from the bay to Biscayne Boulevard. Several vacant lots to the west are also slated for development in the next 3 to 5 years. The Charter Club itself sits on one of the most valuable underdeveloped parcels in Edgewater and will almost certainly attract developer interest. Expect heavy construction activity in the surrounding area for the foreseeable future.
Elevator Density Rating
4
Passenger
1
Service
~23
Units/Floor
456
Total Units
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There is no sugarcoating this. The Charter Club was built in 1973 and has not undergone a comprehensive renovation since. The common areas, lobby, hallways, pool deck, gym, and unrenovated units are all extremely dated. Walking through the building feels like stepping into a Miami Vice-era time capsule. The fitness center has equipment that belongs in a museum. The pool area is functional but tired. The hallways and common areas have not been updated in decades. If you are coming from a modern building, the contrast will be jarring. A few individual units have been renovated by their owners and those can be quite nice, but the building itself is in desperate need of a top-to-bottom overhaul.
The Charter Club sits on over 6 acres of prime bayfront land in northern Edgewater. That is an absolutely massive parcel for a waterfront property in Miami. The views from the upper floors are genuinely spectacular. You can see across Biscayne Bay to Miami Beach, and the water views to the east are permanently protected. The building is in a quieter part of Edgewater, away from the construction chaos of central Edgewater. Biscayne Boulevard is a short walk west with Target, The Shops at Midtown, and a growing restaurant scene. The Design District is about a mile away. The location is, without question, the single best thing about this building.
The Charter Club has 4 elevators serving 456 units across 23 floors, which gives it a density ratio of 114 units per elevator. That is already a poor ratio. But the bigger issue is that these elevators are extremely outdated and constantly have mechanical issues. Breakdowns are a regular occurrence. Wait times can be significant, especially during peak hours. For a building of this height and unit count, unreliable elevators are a serious quality-of-life issue. If you live on a higher floor, this will affect your daily routine. The elevator situation alone is a major negative for this building.
The Charter Club's 6-plus acres of prime bayfront land make it one of the most attractive development sites in all of Edgewater. A developer could potentially build multiple towers on this parcel. The building will almost certainly be the target of a developer buyout sometime in the next 3 to 7 years. However, with 456 units and a large number of individual owners, getting the required supermajority to approve a buyout will be a protracted and contentious process. There will be significant disagreement between owners about pricing, timing, and terms. If you are buying here as a speculative play on a future buyout, understand that it could take many years and is far from guaranteed. The math works in theory, but the politics of getting 456 owners to agree on anything is the real challenge.
The building has plans to replace all exterior windows, doors, and glazing. This is a necessary project given the age of the building and the post-Surfside recertification requirements. However, this will be a multi-year process that will be extremely disruptive. Expect noise, dust, scaffolding, restricted access to balconies, and general construction chaos for an extended period. If the building does not get bought out and proceeds with this project, living through it will not be pleasant. The assessment costs for this kind of project on a 456-unit building will also be significant. Factor this into your purchase price calculations.
The unrenovated units in The Charter Club are stuck in the 1970s. We are talking original cabinetry, original flooring, original bathrooms, and original fixtures that are over 50 years old. The layouts are functional but the finishes are deeply dated. If you are buying, budget for a complete gut renovation of the unit. If you are renting, try to find one of the units that has been individually renovated by its owner. The difference between a renovated and unrenovated unit in this building is night and day. Do not make a decision based on a renovated unit listing and then end up in an unrenovated one.
The Charter Club is in northern Edgewater, so all the standard neighborhood trade-offs apply. Biscayne Boulevard can have significant traffic, especially in the afternoons as you get closer to I-195. Street flooding during rainstorms, tropical storms, and hurricanes is a real issue in this area. The Metromover is far to the south, so public transit access is limited. You will need a car for most errands beyond what is available on Biscayne Boulevard. The neighborhood is quieter and more family-friendly than Downtown or Brickell, but it is also less walkable and less connected to the urban core.
The Charter Club is a building that has passed its prime. The location on 6-plus acres of bayfront land is genuinely irreplaceable and the views are spectacular. But the building itself is in poor condition. The common areas are dated. The elevators are unreliable. The unrenovated units are borderline unrecommendable. The building faces a fork in the road: either proceed with a costly and disruptive multi-year exterior renovation, or accept a developer buyout. I would not recommend buying here unless you are specifically making a speculative play on a future developer buyout and you are comfortable with a potentially very long timeline. If you are renting, find a renovated unit and enjoy the views and the location at a relatively low price point. But for buying and living, there are far better options in Edgewater at similar or slightly higher price points. This building needs to go.
The Charter Club is Edgewater's original high-rise, and it shows. Built in 1973 on over 6 acres of prime bayfront land, the location is genuinely irreplaceable and the views are spectacular. But the building has passed its prime in every measurable way. The common areas are stuck in the 1970s. The elevators are unreliable. The unrenovated units are borderline unrecommendable. The gym and pool are extremely basic and outdated. The building faces a critical decision: proceed with a multi-year, disruptive, and expensive exterior glazing replacement, or accept a developer buyout that could take years to negotiate with 456 owners. I would not recommend buying here for personal use. There are far better options in Edgewater at similar or slightly higher price points. The only scenario where buying makes sense is as a speculative play on a future developer buyout, and even then, understand that the timeline could be very long and the process very contentious. If you are renting, find one of the individually renovated units and enjoy the waterfront location and views at a relatively low price. But for buying and living, this building needs to go.
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A Miami Vice time capsule sitting on one of the best waterfront locations in the city. The views are incredible. Everything else is hanging on for dear life.
A massive condo-hotel time capsule with incredible bay views and a DoubleTree in the lobby. You come here for the value and the location, not the luxury.
The most infamous condo in all of Downtown Miami. A rite of passage for newcomers, a cautionary tale for everyone else. You come here for the views and the price. You leave because of everything else.
A 1961 bayfront relic in northern Edgewater with 254 units, multiple stalled buyout attempts, and post-Surfside regulatory pressure that likely seals its fate. The location is prime but the building is not.
