Rental market strong throughout Miami-Dade

Miami /
Jan.January 23, 2014 12:00 PM

With so much focus on Miami-Dade County’s preconstruction condo market, the strong rental performance in key pockets has flown under the radar.

Apartment owners in Coral Gables, Midtown and Edgewater are reporting increases in occupancy and monthly rents, Miami Today reported. An executive at Beztak Companies, one of the partners in a venture that owns 539 units in three Midtown buildings, said rents at the units have jumped from $1.80 per square foot to $2.25 in the last two years.

In Coral Gables, an executive at Gables Residential said 95 percent of the 248 units at Gables Ponce were leased between January 2013 and now. The company plans to start leasing the second phase of 119 units within the next month.

Pioneering Edgewater developer the Melo Group finished building rental tower 22 Skyview last fall. At the time, 80 percent of the tower’s 280 units were occupied. Today, only two apartments remain available. [Miami Today]Eric Kalis


Related Articles

arrow_forward_ios
A photo illustration featuring a rendering of the Edition Residences Edgewater (left), the Belmar Condominium at 419 Northeast 19th Street (middle), and a rendering of Aria Reserve (right) (Getty Images, Google Maps, Melo Group, Two Roads Development, Master Brokers Forum)
South Florida by the numbers: Living on the Edge(water)
South Florida by the numbers: Living on the Edge(water)
Constellation's Eduardo Otaola and Boschetti's Jose Boschetti with rendering of proposing a 15-story, mixed-use luxury rental project (LinkedIn, Boschetti Group, Arquitectonica, Getty)
Developers propose mixed-use luxury rentals in Coral Gables
Developers propose mixed-use luxury rentals in Coral Gables
Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)
Gables Club developer Marc Kovens sells his penthouse
Gables Club developer Marc Kovens sells his penthouse
Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
Coral Gables closing tops Miami-Dade’s weekly condo sales
Coral Gables closing tops Miami-Dade’s weekly condo sales
Deerwood Town Center at 12085-2107 Southwest 152nd Street in Miami-Dade County, One Biscayne Tower at 2 South Biscayne Boulevard in Miami and 2990 Ponce office building in Coral Gables with Gildenson Real Estate's Eduardo Gildenson and CP Group’s Angelo Bianco (Google Maps, Gildenson Real Estate, CP Group)
Lease roundup: Quest takes space at One Biscayne Tower & more
Lease roundup: Quest takes space at One Biscayne Tower & more
From left: Belong co-founders Tyler Infelise, Ale Resnik, and Owen Savir (Belong, Getty Images, Google Maps)
Lease roundup: Rentals manager Belong moves HQ to Brickell
Lease roundup: Rentals manager Belong moves HQ to Brickell
MG Developer's Alirio Torrealba with 3191 Southwest 39th Avenue and 3160 Southwest 38th Court (LinkedIn, Google Maps)
MG completes Miami apartments dev site assemblage
MG completes Miami apartments dev site assemblage
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...