Miami Neighborhoods Where Luxury Condos Are Sold
With eye-popping amenities, such as a 60-story glass car elevator that allows residents to drive their cars right into their living rooms and balconies that can be used as Brazilian verandas, Miami has gained much attention in recent times for its luxury condo market.
Though the condo market has slowed considerably over the past year, condos sales in all price ranges (including the luxury market) are still occurring. From Dec. 9 to 16, there were 122 closings in Miami-Dade County for a total of $71.9 million. Those condos sold for an average price of $374,812 or about $310 per square foot, per The Real Deal. The 10 highest priced sales ranged from the mid $800s to $5 million.
Here are the neighborhoods where luxury buyers are flocking.
It should come as no surprise that Miami Beach, including South Beach, had three of the highest-priced sales for the week—the largest of which was a $5 million deal, or about $1,814 per square foot, at Miami Beach’s Edition Residences.
Hotelier Ian Schrager co-developed the Edition, which was completed in 2015 after redeveloping the former Seville Hotel. The residences are located both at the top of the Miami Beach Edition Hotel and in an adjacent tower. Residents have access to all the amenities in the hotel.
A condo at the Grand Venetian, which is located at the water’s edge on the Venetian Causeway off Miami Beach, sold for $1.475 million or $998.65 per square foot. This 25-story building only has 135 units, and it’s within close proximity of Lincoln Road and dozens of shops and restaurants. And another condo sold for $880,000, or $1,385 per square foot, at the W South Beach.
With its reputation as the “Manhattan” of Miami, Brickell saw two luxury sales during the week. In addition to being within walking distance to the business district, luxury condos offer the type of resort-style amenities you’d find in hotels on the beach.
A condo sale closed at Brickell Heights East, for $1.8 million or $825 per square foot. Residents there have access to an Equinox fitness center and SoulCycle cycling studio, among other perks.
A condo sold at Jade Residences at Brickell Bay for $1 million, or $582.40 per square foot, where residences can enjoy an Infinity-edge lap pool overlooking the Biscayne Bay and a European-style spa.
For buyers looking to live on the beach with the views and amenities of oceanfront property but without the tourism and party scenes, Bal Harbour is an attractive option. With close proximity to the Bal Harbour Shops, the neighborhood is also a haven to those seeking high-end shopping options.
Aventura offers many of the same features as Bal Harbour, with the added benefit of a northern location that gives residents easy access to nearby locations such as Hallandale Beach, Hollywood, and Fort Lauderdale. That neighborhood saw a sale at Aventura Marina Condo for $1.015 million or $340 per square foot.
Known as one of the ritziest neighborhoods in Miami, Coral Gables also saw an expensive sale at Valencia Grande for $855,000, or $361.50 per square foot.
This building is located in a pedestrian-friendly area close to Miami International Airport and Downtown. The building, where units sell for as high as $1.6 million, is rich with amenities, including custom kitchens, marble floors, semi-private elevators, and under-building parking.