MIAMI—Bay House, a 165-unit luxury condo in Greater Downtown Miami's booming East Edgewater district, is moving forward with unit closings. The news comes two months after Ion at Edgewater crapped plans to build a 36-story tower in the same neighborhood.

Melo Group's 38-story tower is one of the first newly-constructed condominiums to deliver in East Edgewater area, which is one of the fastest-growing neighborhoods in Miami. Over a dozen new residential projects are currently in development at a time when Downtown Miami is reporting a healthy condo correction that is likely to see more projects stall.

Located at 600 Northeast 27th Avenue, Bay House is 99% sold. Only two penthouse units are available at prices from $2 million and up. Condo amenities include a 20,000 square foot resort deck complete with a swimming pool, Jacuzzi, outdoor lounge, cabanas and barbeque pavilion.