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Check Out the Tallest Residential Skyscraper Condos For Sale in Miami
If you are thinking of moving to Miami and have mouthwatering taste for downtown living, the skyscrapers at Biscayne Wall may be the perfect home for you. Driving down Biscayne Blvd, simply look to the West and you will see some of the tallest buildings in Miami – and you can live here!
The skyscrapers listed below are all primarily focused on residential condos for sale and giving you the sky-high view of the Atlantic Ocean you have always dreamed of. Check out the information for each high rise condo shown below and take another step forward to making Miami your new home:
Status: Tallest residential building in Florida
Height: 679 feet (207 m)
# of Floors: 67
Condo Bedrooms: 2-5
Price Range: $760,000 - $7,000,000
Built: March 2008 (Opened in 2009)
Address: 1100 Biscayne Boulevard | Miami, FL
900 Biscayne Bay
Status: 2nd tallest residential building in Florida
Height: 650 feet (200 m)
# of Floors: 63
Condo Bedrooms: 1-4
Price Range: $435,000 - $5,500,000
Address: 900 Biscayne Boulevard | Miami, Florida
Status: 7th tallest building in Miami
Height: 643 feet (196 m)
# of Floors: 56
Condo Bedrooms: 1-3
Price Range: $229,000 - $1,480,000
Address: 60 SW 13 Street | Miami, FL
Mint Tower at Riverfront
Status: 6th-tallest building in Florida
Height: 631 feet (192 m)
# of Floors: 55
Condo Bedrooms: 1-3
Price Range: $315,900 - $1,290,000
Address: 350 South Miami Avenue | Miami, Florida
Status: 9th tallest building in Miami, 10th tallest in Florida
Height: 615 feet (187 m)
# of Floors: 57
Condo Bedrooms: 1-4
Price Range: $334,000 - $5,900,000
Address: 888 Biscayne Boulevard | Miami, Florida
If these residential skyscraper condos for sale aren’t enough, the Panorama Tower is on schedule to open in 2017. It will have 81 floors which encompass 821 rental apartments, a 200+ room hotel, 100,000 square feet of medical office space, 50,000 sq ft of commercial retail on the ground floor and a public rooftop observation deck. Very cool stuff, we are excited for the addition to our Miami skyline.
Are you planning on making a move to Miami? Does one of the condos listed above interest you? Give us a call and we can assist you throughout the process.
Images by Averette Wiki Commons
Home loan mortgages in Miami are still twice as affordable as rents in 2014. We've been seeing this prediction throughout the year but the differences are still awe inspiring. Renting in Miami takes a lot more of people's income than owning. According to a recent article by Zillow Analysis the median rent in Miami took up about 44% of the areas median income in the third quarter of 2014. That 63% above the historical average of just 27%; More than double what Miami residents typically devote to mortgages, only 20% or less.
National averages show 15% of income share for mortgages which contrasts greatly with the 30% for rental payments. This inequality could also result in an unequal housing market. As many real estate agents have said for several months that homeownership is more affordable than renting an encouraging people to save money, benefit the economy and eventually by real estate rather than rent and pay some other homeowners mortgage.
However, with all this being said, potential homebuyers should realize that even though it is more affordable it may not be any easier to get a mortgage. Lending standards are tighter than ever and many lenders are requiring at least a 20% down payment for conventional loans. This can be a very big chunk out of first-time homeowner’s home purchasing nest egg. This alone may be causing more rental properties since first-time homebuyers are having a difficult time coming up with that down payment.
The rental stock is currently low in the Miami area so rents have soared not just here but all over the country. Rental construction has also skyrocketed in response to the high demand of low inventory but given the extended timelines required to complete these multifamily apartment or condominium units it can increase what is currently available.
In conclusion, even though mortgage payments it might be extremely reasonable and rates still at all-time lows, home prices may still be more expensive overall. Home ownership could simply be inaccessible for low to moderate incomes especially for the Miami market, which focuses mainly on luxury condos and waterfront properties. [Source]
If you've been considering purchasing a home and are tired of paying your landlords mortgage, give me a call and let's see how affordable buying a home of your own could actually be.
Anxious to find out what’s next for real estate in 2015? Trends have been slow to emerge and the market has been incrementally improving each year, 2013’s market was very similar to 2014’s market; it doesn’t feel like much has changed. Members of our expert panel commented as such, but even though the increases in the market are only slightly incremental, there are new factors the industry is paying attention to when it comes to watching where the market is going. Millennials, the latest up-and-coming demographic, are now a big factor in the predictions in several areas of housing, including homebuyer statistics, new construction and the job market.
- Read full article: http://miamiagentmagazine.com/2015-predictions/#sthash.OePwTHuP.dpuf
The Miami-Dade transit system is launching into a new investment launching Miami into modernization.
Miami is not the most walkable city in the US so Miami city officials, local politicians and developers are working together to connect Miami in a way that it's been not previously considered. These officials are looking at joining the city through biking and walking trails with more compact shopping and business centers and better public transportation.
With the addition of 'All Aboard Florida', the intercity passenger rail between downtown Miami and Orlando, this project will hope to create a multiblock complex adjacent to the County Government Center called MiamiCentral. This project will be a primary or central hub offering amenities for those traveling by long-distance or for daily commutes. This will include buses, trolleys, bike rentals and more. It's designed to provide access and transportation to the car will not be necessary. This development represents just another move by Miami to offer a more walkable and accessible city.
MiamiCentral will consist around the central station and provide to residential towers offering over 800 dwellings with affordable studios and one bedroom apartments. This is designed to attract a younger working group offering the prospect of a live/work and play environment. Parking spaces will be available for those that prefer the additional freedom of their own vehicle but the main goal is to eliminate a lot of the congestion and traffic and provide a wide variety of transportation options. The construction of the station base is expected to be finished within 2014 and further progress is designed for 2015. The first trains are projected to run in 2017 and the towers will be moving in their first tenants by March 2017 as well. [Source]
In related news, construction spending in Miami was up this past October in both private and public spending. Month over month, in October, nearly all construction sectors saw spending growth. This construction is due to the Miami World Center, Resorts World Miami, train stations, numerous expansive construction projects and residential. [Source]
In addition, qualifying incomes are surprisingly reasonable in Miami and more buyers are finding it easier and easier to obtain a home loan with an extremely affordable mortgage rates. All of this combined with the growth and new construction means that Miami is on the verge of an explosive housing market and economy. Now would be an excellent time to consider investing in real estate and building equity for future purchases.
While the rest of the country is slowly declining on their home price, Miami and Miami Beach continues to increase in most metro areas.
According to the Miami agent magazine.com, "September rose 10.3% year over year and .6% from August." This is also according to the Case-Shiller home price index from Standard & Poor's. [Source]
Nationwide, local trends show home prices slightly down year-over-year. And the national Case – Shiller Index was down .1% from August to September, the first monthly decrease for the index since November, 2013. 18 out of the 20 cities that the S & P tracks reported slower annual gains from August to September.
The Wall Street Journal states that prices in 2014 are trending 5% above 2013 and much better than 2010 but still are slowly declining.
But, that's national, here in the Miami and Miami Beach Metro area, home prices increased by 10.3% as one of the best in the nation and the only double-digit increase. With the new properties being built, major metropolitan industries on the rise, new home subdivisions and condominiums, the Miami and Miami Beach area is bursting with home improvement and an active housing recovery.
The managing director of the index committee at S & P puts the housing market into perspective: "other housing statistics paint a mixed to slightly positive picture. Housing starts held above 1 million and annual rates on gains in single-family homes, sales of existing homes are gaining, builders sediment is improving, foreclosures continue to be worked off and mortgage default rates are at precrisis levels. The housing outlook for 2015 is stable to slightly better."
Because of our healthy housing recovery, foreclosures and short sales are on the decline. However, deals and bargains can still be found out there and there still are short sales but no more than a typical housing market. Certainly not where we saw short sales and foreclosures in 2008 and 2009. According to the Miami agent, "existing home sales have seen their first yearly increase in about 12 months". This is great news for our economy, our housing market, and the general health of our community. Miami continues to be one of the nations top 10 construction markets in the US. [Source] For more information on the Miami or Miami Beach real estate market feel free to give me a call at any time or browse the website and blog for more details.
New Listing at 1800 Club Condo
Welcome to 1800 North Bayshore Dr. in Miami Florida. This stunning two bedroom and two bath condominium #3405 with nearly 1200 ft.² of living space is currently for sale at $649,000.
This condominium building was constructed in 2007 and this unit is a fantastic east facing unit with beautiful views of the bay. Any new homebuyer will enjoy the Italian kitchen cabinets, stainless steel and open kitchen space with granite countertops. There are split bedrooms and floor-to-ceiling windows allowing for natural light and stunning views of the area. The master bath boasts a separate shower and tub with dual vanity sinks, washer and dryer, refrigerator, range and dishwasher all included. The flooring is a mix of wood and marble floors and this unit comes with one assigned parking space.
This glorious unit also has an open balcony allowing for greater access to those stunning views and amenities include smoke detectors, trash chute, security systems, bike storage and the amenities of the fabulous 1800 Club Condo. These amenities include swimming pool, on-site manager, exercise facility, elevator, sauna and spa. The Club Condo has a total of 42 floors.
Homeowners association fees are approximately $611 and pets are allowed. This condominium requires a $150 application fee with 1 to 2 week approval and Association approval as well.
Another amazing part of this condominium is the close access to Margaret Pace Park and all the amenities located there including tennis courts, volleyball courts, sports fields and playgrounds. Locals also have access to their yoga classes, aerobics classes and gymnasium. Cafés, nightlife, shopping and galleries are all within 1 to 2 blocks of your front door.
This is a new listing so buyers are active. For information or private showing of this complex and condominium #3405 please give me a call today. As the listing agent I can offer you immediate access to the home and answer any questions you may have.
View More Information on this Listing here: #A2012575 - Click here to view all images
With the projection of Resorts World Miami, Miami's SkyRise and the Wordcenter, Miami is soon becoming a "Global City". With this expansion comes higher home prices and increased rent. According to local experts, Miami may not have enough inventory to cover the the upcoming demand.
Thinks $3100 for a small two bedroom apartment is too much? You may soon be paying upwards of $3.50 a foot just for rent in downtown Miami.
Local experts project that rents will hit $3.25 within the next six months as they are already $2.25 to $2.50 per square foot. This sticker shock might be a steeper rise from the current levels but the median price for a downtown Miami rental is a $2650 based on apartments of 1100 ft.² and up. With new expansions and more building happening in the downtown area, real estate will come at a steep price and this goes for rents and parking as well. They will continue to go up as the economy recovers according to certain real estate condo division groups and developers.
In addition, the influx of people moving to South Florida in addition to millennial's refusing to live in suburbs, will create a high rental demand, potentially beyond supply. Because of this dynamic, rental properties will naturally increase and investors may find themselves scrambling to even find properties to invest in.
Over the last real estate boom in the Miami area, developers and architects have built 84 new condo towers and more than 22,000 units. However, the income of many Miami residents also must rise considerably to afford these rents and currently a rent of $3000 per month is considered unaffordable for household making less than $120,000 per year. Some of Miami's most desirable neighborhoods have a current median income of just $53,000-$78,000 respectively.
White-collar employment and income growth is happening in South Florida but perhaps not as fast as it will need to be to maintain this type of real estate push. The target demographic will have to be more specific to those working in the downtown area, but with the added jobs and construction projected over the next 2 to 3 years, the need for more downtown residencies will also increase. [Source]
The Venetian Islands and Islands of Biscayne Bay Between Miami and Miami Beach
These Venetian Islands are not in the Italian city of Venice but actually are located in Biscayne Bay between Miami and Miami Beach Florida. This system of artificial islands are connected by bridges from Miami to Miami Beach.
The Venetian Islands project was created in 1925 by a series of arch drawbridges named the Venetian Causeway. This popular stretch is perfect for joggers, bikers and dog walkers and the islands offer a suburban feel with beautiful views of the bay, Miami and Miami Beach. There are a total of 10 islands, nine of which are inhabited as the 10th is the Flagler Memorial Island, which is an uninhabited picnic Island built in the 1920s as a memorial to the railroad pioneer Henry Flagler. This is the only island strictly accessible by boat.
Of the islands, nine are inhabited and can be accessed by the Venetian Causeway or the MacArthur Causeway.
Hibiscus Island, Palm Island and Star Island are all accessible via the MacArthur Causeway, the main causeway between Miami and Miami Beach and are actually not a part of the Venetian even though they are close. Bell Isle, Rivo Alto, Di’Lido Island, San Marino Island, San Marco Island and Biscayne Island are all accessible along the Venetian Causeway. Half the islands have a Miami address and half a Miami Beach address.
Biscayne Island - This island is the most western island and just 2 minutes from downtown Miami with stunning views of the water and all the new waterfront additions such as Resort World Miami. Luxury homes on Biscayne Island start about $800,000 and can easily go as high as $10 million or more depending on style, condition, view and amenities.
San Marco Island - This island is located just east of Biscayne Island. All external homes feature waterfront access, boat docks, and many offer a waterfront swimming pool as well. There are a few homes in the interior area of this island. At any given time there's roughly 5 to 8 properties for sale located on this island priced from $1.3 million.
San Marino Island - This island runs north and south with several interior properties, the majority being external along the waterfront. These home start at about $2.2 million in this island features about 10 properties for sale at any given time.
Di Lido Island - This is one of the larger islands in the Venetian Islands running north and south with several interior properties and exterior properties stretching from the street to the waterfront. About 90% of the homes on this island feature a swimming pool priced from $2 million. The average priced home is about 3.5 million.
Rivo Alto Island - This island is about the same size of San Marino Island with only about 2 to 5 properties for sale. These homes are priced from about $2.5 million.
Bell Isle - The smaller island is located between Rivo Alta and Miami Beach and features several high-end condominiums, resorts spas and parks. These condominiums start at about $250,000. This is one of the more affordable locations due to the majority of property styles.
Star Island - This island is located off MacArthur Causeway and is about the same as San Marino Island although considered part of the South Beach Island area. There are larger parcels of land, more luxury homes and lots available for custom building. These homes range from about $5 million-$45 million. Through the center of this island runs a park from north to south.
Hibiscus Island - this island is also located off MacArthur Causeway and not technically Venetian. This is a primarily residential island with anywhere from 10 to 20 properties for sale at any given time price from $1.5 million. There are some very high end homes on this island upwards of $20 million, most have boating access and sensational views of Miami Beach and the Miami waterfront.
Palm Island - This is the largest of all the islands and is located between Hibiscus Island and the causeway, also more part of Biscayne Bay and the South Beach Islands. It features numerous residential properties, high-end luxury estates and even its own park. These properties start at about $1.2 million. Palm Island Park features tennis courts, basketball courts, a skate park, green space and waterfront access.
Selling a home on one of the Venetian Islands takes the skill, knowledge and seasoned experience of a reputable broker. Because I know the area, I can help you price, prepare and list your Venetian Island home for as much profit as the market will bear. For more information on the Venetian Islands or to view any homes for sale or what your home is currently worth, please contact me anytime.
Coral Gables Florida is located just south of Miami and Miami Beach in the Miami Dade County with approximately 50,000 residents. Many people feel it's one of the best places to live in Southeast Miami and then just biased. There are many ads, articles, questions and answers and reviews about this part of the Miami-Dade County, all stating it's one of the best places to live. Coral Gables has a 10% growth increase over the last 15 years with the median home price of about $630,000. Home appreciation is up about 17% but it is a higher cost of living and nearly 90% higher than the US average.
However, Coral Gables public schools are exceptional and the school spent an average of over $10,000 per student and there are about 17 students per teacher within the school district. Unemployment rate is also low in just 3.7%, which is lower than the national average by 3%.
Some interesting facts about Coral Gables is that it is ranked #2 is one of the best cities for Thanksgiving and #3 as the most popular cities for the holidays. That being said, ironically it's also one of the most stressful cities in the US. Think it's a coincidence? [Source] Plus we have the amazing Venetian Pool Seen here. Nothing like this anywhere else in Town.
The Miami New Times had an article that stated the Coral Gables is one of Miami's best neighborhoods. Reasons being Coral Gables is exactly what it has set out to be; a hub for high-end residential neighborhoods with strict zoning laws. It hasn't morphed and evolved into a modernistic, fad society. Coral Gables also boasts many benefits and perks as if it were a college community without the downsides. Even though the University of Miami is located here it's not so much a "party campus". Most college students head to the beach rather than partying on campus or at local bars and nightclubs. That being said, the downtown is very user-friendly without it being a rough and partying atmosphere. It's perfect for college students, families and retired people as well with quaint apartments, new construction buildings, estates and condominiums.
Coral Gables is also a great place for bikers, pedestrians and drivers. There are very few major roadways so it's easily accessible by walking or biking with friendly areas to the drivers can visually see pedestrians and bikers.
Coral Gables offers a unique commercial epicenter for Latin America and the Caribbean as well as being home to both national and regional headquarters for nearly 200 major companies. Not only does it portray a unique and high-end quality-of-life ambience but the heart of town provides just about everything residents need. With beautiful walking trails, gorgeous banyan trees, a unique combination of residential and industrial as well as being so close to the beach, there's not much that comes close to the environment and awe the Coral Gables provides.
The town itself stretches from the ocean and Palmetto Bay in the south and extends Northwest up into Miami. There are luxury golf course homes in the north around the Biltmore Golf Course and homes around the University of Miami that provide condos, apartments and older, single family homes. Waterfront homes are found south just north of the Matheson Hammock Parks and Marina. There are numerous lagoons and "Lagos" in this area with homes along the Coral Gables Waterway. This is the Cocoplum community with high-end homes and large waterfront estates in prices from $2 million. Coral Gables also stretches to Deering Bay with million dollar homes and estates along Cutler Channel.
Would you like to know more? Go free to give me a call with your questions on Coral Gables or browse the website for all current listings and properties in the area.
What you need to know about the Resorts World Miami
Resorts World Miami is the brainchild behind the Genting Group, which has over 25 years in US development for resorts and residential entertainment facilities. The owner, K.T. Lim has spent 11 years in the Florida area developing what will soon be the Resorts World Miami.
The Resorts World Miami will be located along the shores of Biscayne Bay, just minutes to Miami Beach and the international airport. It will take up one of the most prominent pieces of real estate in Miami and offer an urban and resort destination for locals, visitors and families alike.
The architecture will be extremely unique and tailored to the Miami skyline. Taking inspiration from nature and specifically the Florida coral reefs, the Resorts World Miami will be a unique collection of numerous buildings, free flow architecture and environmental design, created by one of the leading architectures in the world, Arquitectonia.
Bernardo Fort –Brescia, the founding principle of Arquitectonica introduces a new vocabulary of architecture to our city that is inspiring in nature, “having now been in Miami for over 35 years, we describe our ocean and our natural beauty of the area. The location is pivotal with access to the port and local cruise ships or people coming from Miami Beach as they come down the causeway or even from the airport.”
Resorts World Miami will be seen from numerous existing destinations such as from Bicentennial Park creating a completely new landscape and skyline. The inspiration was from nature and the nature of South Florida. This series of hotel and residential area is inspired by Florida's coral reefs.
There will be outdoor lagoons and natural sandy beaches. With over 3.6 acres, the rooftop lagoon will allow swimmers to scale the lagoon from Biscayne Bay to Biscayne Blvd, over 1000 feet. Included will be a retail Galleria, more than 50 restaurants and lounges, 700,000 ft.² of convention space and column free ballroom, the largest in the United States with waterfront views and outdoor terraces.
Over 1,000,000 ft.² of high-tech entertainment, music, showcases and the culture of Florida. This will be the highlight of the 3 mile Bay walk including trails, jogging and biking paths and it will connect the Miami River to Bayfront Park. It will complement the Bayfront Marketplace and the Miami Art Museum, the Miami Science Museum and the Performing Arts Center, enhancing the skyline and drawing in residents, tourists and families.
A quarter of a million people will be able to gather in this area for special events such as New Year's Eve and Fourth of July events. This three billion-dollar investment will create over 15,000 construction jobs and 30,000 jobs in years to come.
Residential condo units began their sale this year with the completion of the first tower containing several hundred units. The waterfront property seems to be the best way to begin the project to stay current with the market place. [Source] Image taken from still photo from video here.
Want to know more? How about pricing and a finish date? Give me a call anytime! We’re here to answer your questions and provide a wealth of knowledge for investments and residential real estate in Miami.
Related: Find out what's coming to Orlando!