New South of Fifth Real Estate Projects Opening Doors for Buyers
About twenty years ago, South of Fifth real estate played host mostly to vagrants and drug dealers. These days, the once desolate and downtrodden tip of Miami Beach has become one of the most exclusive places to live on South Beach. The area’s rise to prestige has been nothing short of remarkable. With the magnificent 17 acre South Pointe Park, the mega-yacht slips at the Miami Beach Marina and the uber-famous Joe’s Stone Crab located within the community, it’s no wonder foreigners and locals alike are drawn to buy real estate in this glamorous neighborhood.
Many people feel that the best existing condos located South of Fifth are the Continuum, Apogee and Icon. I absolutely love the amenities of the Continuum, which sits on over 12 acres at the tip of South Beach. It’s easy to feel like you’re in some far away five-star resort when you spend a day relaxing around their amenities. The town homes are awesome and give you the feeling of owning a house on the sand, while still being blocks away from all the excitement of South Beach.
South of Fifth Real Estate Exclusivity
Apogee has its own special feel with extra large (3,103 to 4,145 sqft) condominium units that feel more like houses in the sky than condos. Other buildings have penthouses that fall within that large range; but all of Apogee’s units are that large. So what does that mean for new buyers? It gives you a certain caliber of people residing in the building. If you get introduced to the new guy Bob at the pool, you know he isn’t renting a 400sqft studio; he shares your tastes in real estate. The 11ft deep balconies with summer kitchens also give the building a competitive advantage over others in its class.
Icon South Beach
Icon South Beach is the first of the Icon developments that have subsequently been launched in Brickell and Edgewater. In my opinion, it is still the best. The location of the building provides for amazing views of downtown Miami over abundant aquamarine water. The unit mix of 290 condos also gives it a much more boutique feel than some of the other Icon and Related Group projects. The best part about the building is the Phillipe Starck’s brilliant designs in the lobby and interior units.
Unfortunately, because the area is in such high demand, inventory is very tight. That said, four new development projects are opening the door for new buyers who want to live in one of the country’s most alluring and exclusive areas.
Positioned in a highly-sought location next to the Continuum Miami Beach and Apogee Miami Beach towers, the One Ocean South of Fifth development project is the newest ultra-luxury residential gem to land in South Beach. Shimmering in the sunlight from its all glass exterior, the iconic and unmistakable wave-like swirl design ensures that every select resident enjoys optimal views of the ocean and city from their stylish, plush residences. Sprung from the minds of an uber-elite team of artists, architects, landscape and interior designers, this development will feature some of the most alluring and exclusive condos in the South of Fifth District.
Designed by noted Mexican architect Enrique Norten, 321 Ocean is a boutique residential development that will consist of 21 units spread through two residential buildings. This ultra-sexy, low-rise project will provide buyers with breathtaking views of the city and ocean; however, the interior benefits are one of the primary draws. The sleek, open kitchens will come equipped with European cabinetry and premium appliances, which include double multifunction ovens, an induction cooktop, built-in espresso system, a wine cooler, stone countertops, fully integrated refrigerator/freezer and under-mount sinks with designer faucets. The bathrooms feature elegant European-imported marble, huge showers with floor-to-ceiling glass, a soaking tub and a private water closet in the master bath.
Slated to join the growing list of exclusive South of Fifth properties, Glass is an 18-story luxury condominium that will feature 10 units with spectacular 360-degree views. With floor-to-ceiling glass walls and all the amenities of a high-end condominium, unit prices are estimated between $8 million and $9 million, or about $2,500 per square foot.
Strategically stationed South of Fifth at 250-260 Collins Avenue, Moravia provides luxury and resort-style services at very appealing prices. Employing a form-following-function philosophy, the condos are sleek, spacious and comfortable, with logical space-maximizing layouts designed by world-renowned Moravia Labs in Monte Carlo. Aimed at providing luxury at financially appealing prices, these South of Fifth condos provide superior comfort along with amenities you’d see at a premium hotel.
The blurbs about each project are finely crafted marketing messages. I’ll be rolling up my sleeves and reviewing each project separately in future blog posts. So stay tuned for more detailed information about the new South of Fifth real estate projects. All in all, I’m a huge fan of the area. It’s easy to feel like you are in your own little oceanfront residential neighborhood, while still being blocks away from the incredible restaurants and nightlife of South Beach. Best of all, the South of Fifth real estate values held up exceptionally well during the last economic recession.