Icon Brickell Tower III

Icon Brickell Tower III Property Management

Icon Brickell is a three-tower complex at the center of Miami's Brickell financial district, developed by The Related Group and designed by Arquitectonica with interiors by Philippe Starck. Tower III — also known as the Viceroy Tower or W Miami — rises 50 stories and contains 520 units: 372 privately-owned condos and 148 hotel rooms.

As of January 2026, Tower III is the only Icon Brickell tower that permits daily short-term rentals. Towers 1 and 2 require a minimum six-month lease. This distinction is frequently misunderstood by investors evaluating the complex, and purchasing in the wrong tower can eliminate the STR strategy entirely. The original hotel rental program at Tower III was cancelled, meaning owners now manage independently or through third-party operators. Virestia confirms current policy status as part of every engagement.

For broader context on Miami's regulatory environment, see our Miami property management overview. Our Insights cover yield dynamics across Brickell and our other markets.

Address

485 Brickell Avenue, Miami, FL 33131

Neighborhood

Brickell

Classification

Condo-Hotel (W Miami)

Completed

2011

Tower III Units

372 condo + 148 hotel

Stories

50

Unit Types

Studios, 1-bedroom, 2-bedroom

Complex Total

1,718 units across 3 towers

Pet Policy

2 pets, no weight limit (Tower III)

HOA Includes

High-speed internet, cable, water, sewer, trash

The Tower Distinction

Icon Brickell's three towers share amenities, an address block, and a developer — but not a rental policy. Tower III's condo-hotel classification and hotel license give it structural STR protection that Towers 1 and 2 do not have. Their six-month minimum lease requirement makes them traditional rental properties, not short-term investment vehicles.

Brickell's zoning adds another layer. Lodging use is permitted in T5 and T6 transect zones, but many Brickell residential towers sit in T3 or T4 zones where short-term rentals face enforcement risk. Tower III's hotel license provides a level of regulatory insulation that goes beyond the building's own bylaws — it is embedded in the zoning classification itself.

The Brickell Demand Profile

Brickell is Miami's financial district. The demand profile here is different from beachfront properties: stronger weekday occupancy from business travelers, corporate relocations, and consulting engagements; softer weekend demand compared to South Beach. This creates a more consistent revenue floor with less seasonal volatility, but also lower peak-season ADR than oceanfront condo-hotels.

Proximity to Brickell City Centre, the Kaseya Center, and the Adrienne Arsht Center for the Performing Arts provides event-driven demand spikes that complement the baseline business traveler flow. The cancelled hotel program means there is no built-in booking system — owners who do not actively manage pricing and distribution leave occupancy gaps that erode annualized returns.