Like Greater Downtown Miami, the high-end coastal markets in Miami-Dade County are booming once again.
In Miami Beach, condo developers are targeting luxury buyers who seek exclusivity and easy ocean access. Many of the area’s new boutique projects have between 10 and 60 units in low-rise buildings. One South Beach development, Ugo Colombo and Valerio Morabito’s Beach House 8, is designed with an individual condo on each floor of the eight-unit building. Even Related Group, which has much larger projects in other areas, tailored its 30-unit Marea and 50-unit One Ocean projects to meet market demand.
Miami Beach currently has a pipeline of 21 condo towers totaling nearly 1,500 units, according to Condo Vultures and TRD research.
Wealthy buyers who prefer high-rise oceanfront buildings can head north to Sunny Isles Beach, which currently has eight projects with at least 35 stories. The unit counts at these developments vary widely, from the 39-unit Regalia to the 329-condo Parque Towers. If Gil Dezer and Related stick with their original plan for the Armani Residences, they would bring another 500 units to Sunny Isles.
Other coastal markets getting attention include Bal Harbour, where Argentine firm Consultatio plans the 240-unit Oceana Bal Harbour; and Surfside, the home of the Chateau Ocean and Surf Club Four Seasons developments.