I have been working as a luxury Realtor for many years now and one of the concerns that many buyers have is finding the perfect Miami Beach neighborhood and making sure it will fit their lifestyle. For instance in the past South Beach had one reputation but now that the city is maturing it’s turning into a completely different place to live, work and play. Unfortunately it takes time to change a reputation.
For instance we live on South Beach and are in the process of starting our family. In the past many people would never consider South Beach as a place to raise a family, (think touristy, parties, etc.) but nowadays it’s completely different. There is a great elementary school in South of Fifth as well as many smaller private schools. The children’s parks have been redesigned and updated with pools, activities and special shading equipment.
Not to mention that the city is becoming home to some of the world’s wealthiest people thus driving a demand for higher end shopping, restaurants and attractions. The city has definitely changed over the last several years.
First a little geography about Miami Beach Neighborhoods.
Miami Beach is an island of about 86 blocks from north to south.
Then a wider section of blocks east (the ocean) to the west (the bay). As the island stretches north it gets more narrow and on the west side features single family neighborhoods. Also many of the island properties that are located out in the bay parallel to the islands are also considered “Miami Beach”.
There are many different types of properties in Miami Beach, however due to the fact that Miami Beach is one of the most desirable areas in the world, real estate is still very expensive here and often we find that many new buyers from out of our area are out of touch with what you actually get for your money.
View Best Area to Buy a Condo at Miami Beach Florida in a larger map
Next the reality of what you get for your money.
First you should know that Miami Beach is one of the HOTTEST real estate markets in the US.
Although Miami Beach was one of the first markets to crash in the downturn, it was also one of the first to come back and in a big way. Sometimes it can be challenging for buyers who need financing to compete in our market because many buyers here pay cash to purchase property. There are often bidding wars, buyers waive contingencies, close really fast and often many buyers pay top dollar to get the property they most desire. In fact there are often many record setting deals. So if you are a calculated buyer and need to do a lot of research before making an offer (which you should), it may be hard for you to get your mind around what people paid in the past and are now are willing to pay in today’s market.
The good news is that since the downturn, most of the buyers did pay cash and most of the buildings have turned themselves around financially. Plus there were many laws and acts defined during that time that allows condominium buildings to get rid of bad paying owners and take control of the finances to ensure the building is being managed fiscally well. However not all buildings are great at managing themselves so you always need to do your due diligence in this area.
But, you can be assured that overall with they heavy influx of cash, the market is a lot more stable.
What you get for your money in Miami Beach is going to depend on two main factors: (1) your budget & (2) your criteria
Also you should know that even within each of these neighborhoods there are sub markets and they consist of factors like:
the location of the building (waterfront or non waterfront)
type of waterfront (ocean front or bayfront)
the building and it’s brand
the unit itself (the line of the unit and it’s view)
the unit itself (the finishes and decor)
parking and the number of parking spaces
there are other factors too but these are a few of the important ones
One of the most desirable neighborhoods of Miami Beach is South of Fifth, also known as Sofi.
South of Fifth is known as the super luxury neighborhood on Miami Beach due to the fact that there are many “super luxury” buildings in this neighborhood. Also many of the properties that are most desirable are located in waterfront buildings. South of Fifth is also popular because there are a lot of higher end restaurants in this neighborhood, South Pointe Park is in the neighborhood and South of Fifth is the direct link to a highly rated elementary school, Sunset Elementary School.
View South of Fifth Luxury Buildings in a larger map
South of Fifth features some of Miami Beach’s most expensive real estate with buildings like:
Apogee South Beach
Bentley Beach Hilton
Continuum South Beach Tower I
Continuum South Beach Tower II
Cosmopolitan South Beach
Courts at South Beach
ICON South Beach
Murano at Portofino
Murano Grande
Portofino South Beach
S5 South Of Fifth
South Pointe Tower
Yacht Club At Portofino
The West Avenue neighborhood is just north of South of Fifth.
The West Avenue neighborhood is a great neighborhood and is just north of South of Fifth. Many of the luxury properties are located on Biscayne Bay with amazing bay and city views. The best part about the West Avenue neighborhood it is within walking distance to most of South Beach’s main attractions: Lincoln road, the beach and many of the grocery stores, shops and gyms.
Popular Luxury Buildings in the West Avenue neighborhood are:
Bentley Bay South
Bentley Bay North
Capri South Beach
Flamingo South Beach
Floridian
Fontana Condo
Mondrian South Beach
The Mirador
Waverly South Beach
Another popular Miami Beach neighborhood Sunset Harbour.
Sunset Harbour is a neighborhood just north east of the Venetian Islands. In the past it was flanked with a huge tow truck lot and more industrial type businesses, today those businesses have closed up shop and this neighborhood is becoming hub to some of South Beach’s best known local restaurants like Sardinia and Pubbelly. Not to mention home to Ognjen’s favorite Publix on the beach and the new Fresh Market. In place of the industrial shops is a new shopping center named Sunset Harbour Shops. What makes this area unique is that it is out of the way for the “tourist” feel of Miami Beach and it has a more local feel and still has easy access to all of South Beach.
View Sunset Harbour in a larger map
Miami Beach condo buildings located in this neighborhood are:
Sunset Harbour South Tower
Sunset Harbour North Tower
Sunset Harbour Townhomes
Palau at Sunset Harbour
Next, although not really “a neighborhood” rather a criteria: Oceanfront
In my opinion, any property that is considered a luxury oceanfront property is good (as long as the building is managed properly).
Two of my favorite buildings are located in an up and coming neighborhood in the 40′s in Miami Beach, just south of Soho House and Fountainbleau hotel. They are the Caribbean and Mosaic, however there are other great oceanfront properties to consider if your budget allows it.
1500 Ocean Drive
Il Villaggio
W South Beach
Setai South Beach
Caribbean Condo Miami Beach
Mosaic Miami Beach
Finally you can also head up to the the northern parts of Miami Beach.
I would recommend properties that are oceanfront or across from the ocean in the 60′s through 80′s streets of Miami Beach like:
Akoya
Aqua At Allison Island
Canyon Ranch Miami Beach
Bel Aire On The Ocean
Mei Miami Beach
Although I mostly touched on buildings in Miami Beach, there are also many single family home neighborhoods in Miami Beach that are great properties.
Allison Island
Alton Road Homes
Altos Del Mar Homes
Bal Harbour Homes
Bay Harbor Islands
Biscayne Beach Homes
Biscayne Island Homes
Biscayne Point
Di Lido Homes
Fisher Island Homes
Flamingo Terrace Homes
Golden Beach Homes
Hibiscus Island
Indian Beach Homes
Indian Creek
Isle Of Normandy Homes
La Gorce Country Club
La Gorce Island Homes
Lake View Homes
Mid Beach
Mid Golf Miami Beach Homes
Nautilus Homes
Normandy Golf Course Homes
North Bay Road Estates
Ocean Side Isle Homes
Orchard Homes
Palm Island
Pinetree Drive Homes
Rivo Alto Homes
San Marco Islands Homes
San Marino Islands Homes
South Beach Homes
Star Island
Sunset Lake Homes
Surfside Miami Beach Homes
Venetian Islands Homes
In the end, what you get for your money is going to vary greatly from area to area and building to building. The good news is I only touched on a few areas and a few buildings. Although Miami Beach is still a very expensive place to buy real estate, there is often something that can fit everyone’s budget, if you have decent pricing expectations.
Do you need help sorting through the different Miami Beach neighborhoods, price points and finding the best for your money?
Give me a call today and let me help you. 305-793-8965
In the end, it’s really important to work with a local real estate specialist who knows the areas and knows how to get you the most bang for your dollar.
Copyright © By Jamey Prezzi 2014 * All Rights Reserved*Breaking Down Miami Beach Neighborhoods & What to Know
The post Breaking Down Miami Beach Neighborhoods & What to Know appeared first on Miami Beach Real Estate Agents Jamey Prezzi Ognjen Prezzi.