Danny's Blog

Miami Beach’s Next Frontier

Wednesday, May 11, 2016

It’s a great time for Miami Beach real estate. Billionaires are shelling out about $3,130 per square foot for some of the city’s finest new buildings like the Faena House in South Beach and just a couple of blocks down the street the Residences at the Miami Beach Edition is commanding $3,020 per square foot. Heading over to Ocean Drive, the Glass tower has sold out its ten units for a price of about $2,300 per square foot. Over at the 321 Ocean project, the price of $1,720 per square foot could be considered a bargain.

While South Beach and the Mid-Beach area continue to see a surge of new condominium and hotel activity, the North Beach area isn’t seeing the same feverish activity. Though the area has remained largely stagnant for over a decade, signs seem to suggest that real estate investors may be eyeing the North Beach area as Miami Beach’s next great frontier. One major project being considered is a potential Town Center along 71st Street comprised of various retail and restaurants within mixed-use buildings that could attract millennials and baby boomers to the area. The project would however require upzoning and there are traffic concerns that would also need to be taken into consideration.

This update is brought to you by Miami Beach Realtor Danny Hertzberg, specializing in Miami Beach waterfront homes as well as other Miami Beach listings throughout the barrier island. Contact Danny Hertzberg of The Jills, the number one team in the state of Florida by calling 305-505-1950 for information on properties throughout the barrier island.

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