MIAMI—Call it a milestone for Downtown Miami's residential market. The first condo planned for Brickell Avenue since the recession just topped-off construction at 44 stories.

Rilea Group and MDR Toledo are developing The Bond on Brickell, a 328-unit luxury tower under located at 1080 Brickell Avenue in the Brickell Financial District. Scheduled for delivery in the first quarter of 2016, the project is already nearly sold out, with 97% of the building's condo units under contract.

“We launched The Bond on Brickell at the beginning of Miami's current development cycle because we were bullish on the Miami economy, the Brickell brand, and the development and sales team we assembled,” says Diego Ojeda, vice president of Rilea. “Buyers from more than 25 countries around the world responded by purchasing nearly all of the available units more than six months before delivery.”