The Real Deal Miami

Argentine developer Costantini counters claim that Key Biscayne has become a ‘Porteño’ suburb

Eduardo Costantini says new wave of Argentines is fanning out across Miami-Dade
July 12, 2013 12:00PM

An Argentine eatery in Key Biscayne

A new wave of wealthy Argentine immigrants gives Key Biscayne a ‘Porteño’ feel, the Spanish adjective to describe something from Buenos Aires, the Miami Herald reported, citing real estate brokers and village officials.

Argentines are flocking not only to Key Biscayne but throughout the Miami area, Buenos Aires-based real estate mogul and art collector Eduardo Costantini, the developer of Oceana Key Biscayne and Oceana Bal Harbour, told The Real Deal.

“I don’t see any change of preferences in relations to the location chosen by Argentinians to reside in Miami,” he said. “But what I do believe is that for us, Miami has been reaffirmed as the first choice to buy a second home.”

The new Argentine expatriates in Miami are mainly younger, wealthier and better educated than previous waves of immigrants from the South American country, drawn to South Florida not only for its beaches and shopping malls but also for major cultural events like Art Basel and the Winter Music Festival, the Herald said, citing an article in the Argentine daily newspaper La Nación.

Half a dozen Argentine residents of Key Biscayne told the Herald the move north to South Florida was precipitated by a rise in violent crime in Buenos Aires and other cities, perceiving the benefits of life in the village as similar to those provided by the Argentine capital’s “countries,” or gated communities, most famous among them Costantini’s Nordelta. [Miami Herald]Emily Schmall