South of Fifth Miami New Condo Update
The South of Fifth Miami Beach condo lifestyle is second to none. Simply put, the area is one of the most sought-after neighborhoods on Planet Earth. It’s a paradise for jetsetters due to the incredible vibe within the area. The posh and exquisite fine dining experiences of Prime 112, Cavalli and Joe’s Stone Crab are just steps away from the incredible nightclub Story, which is ranked as one of ten best clubs in the world. And the daylife options are just as good as the legendary nightlife. With the incredible aquamarine waters of the Atlantic a short walk away from any condo tower within the area, it’s no wonder why this neighborhood rules as the King of South Beach.
Real estate developers know quite well that any new South of Fifth Miami Beach condo development draws incredible demand from the public. In looking at the recent sales and construction progress within the area, it’s easy to see tremendous success. There are several new developments which will rival the Continuum South Beach and Apogee Miami Beach as the most expensive and exclusive luxury developments within these coveted blocks. Through this post, we’ll take a look at the progress and value of the new buildings within the neighborhood. It’s impressive.
321 Ocean is Topped Off
The construction progress of 321 Ocean has been going quite well. The location of the development sets it apart from any other new South of Fifth Miami condo projects. It sits on the East side of Ocean Drive with the beach in the backyard of the condos. This prime ‘on the sand’ development broke ground on October 1, 2013 and is proceeding forward rapidly. With the project nearly 100% sold out, Aria Developers have a huge success on their hands. The 9 story tall building was designed by renowned architect Enrique Norton of TEN Arquitectos with an eye for hyper-modernism. The development has caught the eye of many through the incorporation of 10 foot deep oceanfront terraces. Without question, these terraces will provide an incredible indoor-outdoor lifestyle that is perfect for oceanfront living in the tropical climate of Miami. Rain showers, soaking tubs and private water closets are also some of the most attractive features that come standard in the beautiful master baths.
Glass South Beach Rises 18 Stories
Glass South Beach is an amazing building, there is no doubt about it. The construction teams appear to be just as efficient and competent as the all-all-star design team of architect Rene Gonzalez and developer The Terra Group. The structure appears to be just about topped off on its 18 stories in height. The most outstanding feature of this development is the fact that there will be only 12 residences in existence throughout the 18 story tower. The ultra-low density puts this building at the top of the list as one of the most exclusive new condo developments in all of South Florida. After breaking ground in August of last year, the project appears to be running right on schedule for a 2015 delivery. Non-penthouse units have been selling above $2500 per square foot, which would rise above all of the current South of Fifth Miami Beach condo pricing for new or existing construction. And those pricey condos appear to be worth it, given the extreme amount of exclusivity that the development offers.
Marea Rises Seven Stories
Marea too has demonstrated strong sales success and ample construction progress. The seven-story development is nearly topped off and is over 90% sold out. There is a clear trend here. The South of Fifth Miami new condo developments have undergone brisk sales. Earlier this year, the Related Group obtained their construction financing, and they quickly mobilized their construction firm into action. The development is set for completion within the next twelve month. With only 30 residences situated over seven floors, this is another ultra-exclusive project that boasts the feel of a single-family home with all of the resources and amenities of a five-star resort. Related has an outstanding track record within the Sofi neighborhood through their previous work with Icon, Murano Grande and Murano at Portofino.
One Ocean Bringing Up the Rear
The beautiful One Ocean is taking a bit more time than the others with their construction. It appears that the construction crews are still busy working underground to form the foundation to the seven story tower. Upon completion, the building will house a total of fifty units. This is another development by the Related Group. It’s gained recognition with the announcement that the great Related CEO, Jorge Perez, will be living here with his family part time. The development has also gained attention for a beautiful zen park as part of its overall design. A north and south tower will be separate, yet still connected through an exceptional design. The North Tower will contain only five bedroom units and will be the most exclusive of the two towers – rivaling any other buildings in the South of Fifth Miami Beach neighborhood.
South of Fifth Miami Upgrades – South Point Park Pier
After nearly a decade of waiting for the reconstruction, the new South Pointe Park Pier is open. The 100-year-old pier was rebuilt over the course of the last year at a cost of $4.8 million. And early reviews are quite impressive. The views from the end of the pier are spectacular. Just when residents thought that South Point Park couldn’t get any better, it does. All in all, the South of Fifth area on South Beach is truly blossoming. Condo demand is very high and prices keep rising as international buyers just love the amazing connection to the beach and incredible nightlife options. URL.biz – Real Estate