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
Fortune International Realty’s former Miami office sells for $8M
Fortune International Realty’s former Miami office sells for $8M
Fortune International Realty’s former Miami office sells for $8M
Alex Rodriguez and Constantine Scurtis at far right (Getty)
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
Bar Invest Group CEO Jacques Barbera and MV Group USA CEO Manny Varas with 440 Costanera Road (Bar Invest Group, MV Group USA)
Builder sells his Cocoplum home to Bar Invest CEO for $16M
Builder sells his Cocoplum home to Bar Invest CEO for $16M
John Ruiz with 530 Arvida Parkway (LPG for One Sotheby’s International Realty, John Ruiz)
Fresh off Lionheart SPAC merger, John Ruiz drops $25M on Gables Estates mansion
Fresh off Lionheart SPAC merger, John Ruiz drops $25M on Gables Estates mansion
Vivian Dimond with Bay Park Towers (Elliman)
Developers rush in: Vivian Dimond-led group offers $150M for older bayfront Miami condo building
Developers rush in: Vivian Dimond-led group offers $150M for older bayfront Miami condo building
 Shoma Group CEO Masoud Shojaee and his company's headquarters at 201 Sevilla Avenue in Coral Gables (Shoma, Google Maps)
Shoma Group HQ faces foreclosure over allegedly unauthorized construction: lawsuit
Shoma Group HQ faces foreclosure over allegedly unauthorized construction: lawsuit
Rendering of the Legacy Hotel & Residences and exam room (Legacy Hotel & Residences)
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
South Miami-Dade developer Wayne Rosen sells waterfront Coral Gables home for $7M
South Miami-Dade developer Wayne Rosen sells waterfront Coral Gables home for $7M
South Miami-Dade developer Wayne Rosen sells waterfront Coral Gables home for $7M
arrow_forward_ios

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

Loading...