Miami Beach looks to North Beach as its next development frontier

Miami /
Apr.April 25, 2016 11:15 AM

From the April issueIt’s record-setting time on Miami Beach. Hedge fund honchos and Russian billionaires are paying an average of $3,130 per square foot for new condominiums at the Faena House on Collins Avenue in South Beach. Just four blocks down the street at the posh Residences at the Miami Beach Edition, buyers can pay an average of $3,020 per square foot for a unit in the 18-story tower.

A couple of miles away, the GLASS condo tower at 120 Ocean Drive has sold out. All of its 10 super-luxury units were gone in a flash for an average price of about $2,300 per square foot. And just to the north at the 321 Ocean project, buyers are getting a relative bargain, paying about $1,720 per square foot for oceanfront units. 

But while the South Beach and Mid-Beach neighborhoods are sizzling with new condo and hotel projects seemingly going up overnight, there’s one part of the resort city that has been left out of the boom: North Beach, the faded home to scores of low-rise Miami Modern buildings, quiet gated single-family properties and the dowdy main drag of 71st Street, where you can’t find a Starbucks. North Beach, which stretches from 63rd Street to 87th Street and westward to Biscayne Bay, is a relic of a less affluent time while South Beach and Mid-Beach have exploded in recent years. [more]


Related Articles

arrow_forward_ios
A rendering of the Byron Carlyle Cultural Center, Jared Galbut and Keith Menin (Miami Beach City Commission, Google Maps)
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
International Inn at 2301 Normandy Isle, Miami Beach (Google Maps)
Miami Beach approves 8-story addition for International Inn
Miami Beach approves 8-story addition for International Inn
Silvia Coltrane and 7300 Collins Avenue (Corcoran, Google Maps, Manolos)
Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach
Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach
Rendering of Byron Carlyle Cultural Center, with Matis Cohen, Jared Galbut and Keith Menin (Miami Beach City Commission)
Menin Hospitality’s Byron Carlyle Theater redevelopment vote shelved until February
Menin Hospitality’s Byron Carlyle Theater redevelopment vote shelved until February
Aria Mehrabi and renderings of the projects
Target-anchored mixed-use project planned for North Beach advances
Target-anchored mixed-use project planned for North Beach advances
Jared Galbut, Bodega Taqueria
Menin plans major expansion of Bodega Taqueria
Menin plans major expansion of Bodega Taqueria
Yamal Yidios and 7780-7810 Tatum Waterway (Ytech)
Court ruling overturns Tatum Waterway’s historic designation
Court ruling overturns Tatum Waterway’s historic designation
Diego Colmenero, Charlie Porchetto and a rendering of the hotel
Urbanica scores approval for new hotel in North Beach
Urbanica scores approval for new hotel in North Beach
arrow_forward_ios

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

Loading...