3 real estate trends making mega waves across South Florida
Via New York Post by Zachary Pussin
Surfside — a sleepy enclave perched north of Miami Beach — is witnessing a flurry of luxury residential development this year. Not only is its coveted Atlantic-front location a major draw, but its prime placement between two stately districts is also luring a new class of well-heeled residents.
“You can walk to Bal Harbour and you’re minutes from the action on South Beach,” says Nadim Ashi of Fort Partners — the developer of the 150-unit Surf Club Four Seasons, from Pritzker-winning architect Richard Meier (units from $3.75 million).
Debuting later this year, its residences will boast floor-to-ceiling windows, custom kitchens and terraces. Not to mention Surfside’s still-quaint atmosphere. “When you get home, you’re in your own oasis of peace and tranquility,” Ashi adds.
And there’s another Pritzker winner arriving in the area.
Renzo Piano’s firm designed Eighty Seven Park, a 70-unit structure a block shy of Surfside’s official southern boundary.
Dwellings here will feature wraparound terraces, plus handsome touches like walls made of glass, American oak and Italian stone. (Completion is estimated in 2018; prices unavailable.)
The nearby 58-unit Fendi Château Residences, meanwhile, is set to debut near the end of this year. It’s the first real estate project for the famed fashion luxury brand, and units ($6 million to $25 million) will deliver Fendi Casa kitchens and Italian marble in the bathrooms.
For those ready to move to Surfside tomorrow, the St. Regis Bal Harbour Residences, a 303-unit property, is up and running, with residences priced from $4.05 million. Those condos boast hotel amenities, including housekeeping and butler services. And units at the Oceanfront Townhomes 9501 Collins are also move-in ready. Prices begin at $3.7 million for these pads, decked out with rooftop kitchens and plunge pools, plus chic interiors by Steven G. In Florida fashion, they lead directly to the beach.
As broker Jill Hertzberg, of Coldwell Banker — who, along with business partner Jill Eber, has handled a number of multimillion-dollar transactions in the area — notes: “It’s a natural evolution north from Miami Beach, and developers see [Surfside] as an amazing opportunity.”
Miami’s trophy real estate market has risen to global prominence in recent years, with a mind-boggling array of new high-end offerings. But the lion’s share of those developments have focused on condominiums, with rentals largely overlooked. Now, in the Magic City’s urban core, dazzling new rental towers are underway — promising luxe home options for young professionals who may not be ready to purchase property but still have sky-high living standards.
The 38-story, 497-unit Melody Tower rental in downtown’s burgeoning Arts and Entertainment District is slated to open in May. Leases begin at roughly $1,600 per month for the flashy homes, which offer granite counters, stainless-steel appliances and large balconies overlooking Biscayne Bay. A resort-style pool, gym and covered parking garage round out the building amenities. These top-notch touches, combined with nearby attractions, make for an attractive get — all without the hassle of a mortgage.
“Residents value downtown Miami’s urban live-work-play lifestyle; the proximity to downtown’s commercial and cultural anchors; walkability to local restaurants, shops and entertainment venues; and access to South Florida’s primary transit systems,” says Carlos Melo, principal of the Melo Group, the developer of Melody Tower. Melo Group will also erect the adjacent 710-unit, two-tower Square Station rental project — boasting similar amenities to its sister — with construction set to commence in the coming months (prices unavailable).
Renters with an eye for style can also look forward to the 464-unit Vice, a PMG-developed rental located downtown, which will debut in 2018 (from $1,550 per month). Here, flats will come accessorized with chic porcelain floors and top-of-the-line appliances and balconies. The greater building will offer a pool deck, an outdoor bar, lounge areas and a high-tech fitness center.
And downtown’s 27-acre, 10-block Miami Worldcenter, which broke ground last month, will bring (among other home, dining and entertainment offerings) the luxury high-rise rental Luma. Details of this 429-unit property are still elusive, but it’s certain to be as footloose and fabulous as its surrounding development — and those new renters will surely fit right in.
A typical luxury Miami condominium delivers countless perks — from coastline views to butler service. But deep-pocketed Florida buyers don’t just want to gaze out over the ocean, they want to stick their toes in the sand too — and not just at open-swim hours. Lucky for them, a number of Magic City developments have increased the luxe factor of their beach-cabana offerings, fashioning them as amenity-packed homes away from home.
The Estates at Acqualina is building 10 oceanfront cabanas available for residents to purchase — ranging from 335 to 600 square feet and priced from $2 million. Two-car garages attached to the cabanas provide easy sea access, while full bathrooms and appliances like wine coolers, ice makers and even cappuccino machines give a great reason to stay put.
Italian designer Piero Lissoni, meanwhile, adorned the interiors of the four 400-square-foot poolside spreads at Oceana Bal Harbour, which are available to residents by reservation at no extra cost. These climate-controlled spaces include kitchenettes, bathrooms, mounted HD televisions and even curated artworks, for a bit of culture with your sandcastles. Lissoni also designed the four poolside cabanas at the Ritz-Carlton Residences, Miami Beach — also reservation-only at no cost — where private bamboo enclosures surround showers and cushy seats.
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