Top Five South Beach Rental Properties

There is no place on earth that exudes a chic lifestyle more than South Beach (SoBe, if you are in the know), Miami.  Just spend one evening at a sidewalk café on Lincoln Road and see style and glamour at their very highest level.  Then spend a day walking through this part of Miami and be in total awe of the styles of South Beach homes, hotels, condominiums and everything else is SoBe. 

South Beach real estate is like no other in the country.  The elite of the elite live in this part of one of the most fabulous cities in the country.  Here, there are spectacular palace-style mansions, elegant contemporary oceanfront condominiums and cool, loft-style residences that are unlike anything else. 

For those who choose to live here part of the year or even vacation for a couple of months but want accommodations that rival their homes in other parts of the world, South Beach rental property has just what they desire…and in some cases, more.  Following are the top five South Beach rental properties:

Continuum Rental Property

100 South Pointe Drive, #3603-4, Continuum, Monthly Rental Rate:  $225,000

This 8,200+ square foot residence is the culmination of combining three units into one extravagantly beautiful home in the Continuum.  Situated on the southernmost tip of Miami, the views are the most awe-inspiring of any in all of Miami with the Atlantic Ocean as far as the eye can see.  Residents enjoy these views from floor to ceiling windows throughout the home or the expansive and perfectly adorned balcony wrapping around the all sides of the residence.  Other amenities (typically standard in properties of this caliber) include a home theatre with comfortable leather seating, an AMX customized security system, audio/video network with custom touchscreen panels in each room, a large master suite with the king of all walk-in closets, a long and large galley-style kitchen with the best of everything in terms of fixtures and finishes and so much more.  With seven bedrooms and seven baths, this home is available as a seasonal, furnished rental and is a true showplace. 

1116 Ocean Drive, Monthly Rental Rate:  $150,000

From high-style condominium living to living the life of royalty, this majestic masterpiece comes from the collective efforts of design artisans and European craftsmen.  From the 54-foot long mosaic-tiled pool to the hand painted walls and ceiling frescoes, this 23,462-square foot home is like an Italian palace.  Whether renting for short or long time periods or for a special event, it offers 10 bedrooms that are lavishly appointed and swathed in luxurious fabrics, beautiful furniture and the finest finishes.  A custom designed courtyard with fountain and custom marble tile flooring is the focal point from balconies and terraces all the way around the residence.  Situated on the exclusive Ocean Drive, this home is the quintessential South Beach Miami mansion. 

Palm Island Rental Property

10 Palm Avenue, Palm Island, Monthly Rental Rate:  $149,000

Live among celebrities and high-profile people in this 9,900 square foot home on Palm Island.  With six bedrooms and six and a half baths, it is the perfect estate home that is a showplace yet very livable.  It features beautiful Bay and South Beach views along with a private dock, heated walk-in pool and swim-in grotto with waterfall.  All of this is adjacent to the home from an incredible outdoor living area perfect for entertaining those celebrity neighbors.   Inside, this it is perfectly appointed but very comfortable with beautiful fixtures and finishes.  There is a fantastic game room with a pool table and bar area as well as a movie theatre and an enormous suite with a private bath that rivals many homes on its own.  The rental rate is quoted for a furnished three to six-month rental.

Star Island Rental Property

5 Star Island Drive, Star Island, Monthly Rental Rate:  $100,000

Reminiscent of a Mediterranean palace, this large estate on tony Star Island is the epitome of luxury South Beach living.  It is lavishly appointed with hand painted walls and ceilings, gold-adorned finishes, and luxurious fabrics and furniture seen only in the homes of kings and queens.  Large bedroom suites add to the exclusivity of living on Star Island.  Outside, the tropical landscaping adds to the beauty of this estate that ends at the private dock on Biscayne Bay.  Residents can sit by the pool on the incredible pool deck that showcases the beauty of the home and the views.  An unbelievable outdoor living and dining area make this the perfect home for entertaining friends and family.   

16 Palm Avenue, Palm Island, Monthly Rental Rate:  $87,500

Heading back over to Palm Island is the last of the top five list with this 9,200+ square foot estate.  Attention to detail is the best description of this majestic showplace that is not over done.  Arrive along the circular cobblestone driveway and head to the back to enjoy the Miami sunshine by the beautiful pool with a waterfall and Jacuzzi or while relaxing in the outdoor living area during a barbecue in the outdoor kitchen.  The tropical landscaping provides the perfect amount of shade and atmosphere for everyone.  Inside, there are massive vaulted ceilings in the main living areas as well as a home fitness room, home office lined with book shelves, a game room, home theatre and so much more.  With beautiful artwork on all of the walls, this is a perfectly suited home for those who want to spend part of the year in Miami in a manner to which they are accustomed. 

Luxury is a Top Priority No Matter the Cost

For most any South Beach rental property, luxury is a top priority no matter the cost.  From these lavishly decorated estate properties to more modern properties, South Beachrentals offer an ideal lifestyle in a beautiful tropical atmosphere.

Top Five Brickell Listings Under $1 Million

As the major financial district in Miami as well as all of South Florida, Brickell is a popular area to live for professionals at any of the international banks and investment firms or foreign consulates.  Brickell is frequently called the “Manhattan of the South” because of its skyscrapers, tall office buildings and high concentration of apartment buildings.  This part of Miami is filled with a diverse group of residents who enjoy a faster pace life along one of the most beautiful backdrops in the country. 

Brickell real estate’s concentration of high-rise condominiums features some of the most luxurious residences in all of Miami.  List prices range from as the mid-$300s to almost $10 million with one Brickell listing topping $25 million.  For those who want luxury in the center of the action as well as the ease of condominium living, there is a lot from which to choose.  Following are the top five Brickell listings under $1 million.

For Sale at Carbonell

901 Brickell Key Boulevard, #607, Carbonell, List Price:  $1,000,000

Imagine waking up and enjoying that first cup of coffee of hot tea on the balcony of this fantastic unit at Carbonell on Brickell Key. The 1,313-foot split floor plan features marble and wood floors, a large kitchen area with high-end stainless steel appliances, custom-designed closets, high ceilings and more.  With two full bedrooms and two and a half baths, there is lots of room to move.  Large windows and a great balcony showcase the amazing water and city views.  As the largest two-bedroom floor plan, it is perfect for professionals working in Brickell as well as anyone who wants to be part of the action but have the ability to retreat to this beautiful oasis on Brickell Key.  Carbonell offers lots of amenities including a state of the art fitness center with spinning equipment, cardiovascular and weight training equipment multipurpose exercise room for dance, yoga and other workout regimes tennis, racquetball and squash courts, a large infinity edge, 30-meter heated bay front pool with whirlpool spa, valet parking, full concierge services and 24-hour patrol just to name a few. 

For Sale at Icon Brickell

465 Brickell Avenue, #4703, Icon Brickell, List Price:  $999,500

Living at Icon Brickell is like being on the most luxurious vacation ALL THE TIME.  Icon Brickell is probably one of Miami’s most recognized properties with its unique design.  With three towers one of which includes the Viceroy Hotel and all of its amenities, Icon Brickell is one of the most elite properties in all of Brickell.  This upper-floor unit features custom-designed décor, fixtures and finishes expected with a home of this caliber.  On the market as turn-key furnished, it includes all accessories, electronics and artwork. The unit faces east offering direct Biscayne Bay and ocean views. In the gourmet kitchen, any cook will love the counter space, Sub-zero refrigerator, Wolf-kitchen appliances, and Italian kitchen cabinetry.  Floor to ceiling windows and a wonderful balcony allow home owners to enjoy the beautiful views.  Icon Brickell offers its residents wonderful extras like a two-acre pool deck surrounding an infinity edge Olympic sized pool, Jacuzzi, reflecting pool, concierge, valet, security, quick access to exquisite restaurants like Cipriani and more.

For Sale at Epic West

200 Biscayne Boulevard Way, #3301, Epic West, List Price:  $999,000

This gorgeous two-bedroom, two and a half bath unit at Epic West has luxury written all over it.  Floor to ceiling walls of windows line two sides of the 1,500+ square-foot residence as well as the 300 square-foot balcony offer the most beautiful panoramic views of Biscayne Bay, the Atlantic Ocean and the Miami skyline.  Inside, the contemporary designed and decorated home features a wonderful master suite with ideal custom closet and modern master bath and spa, a gourmet kitchen with high-end appliances and more.  Listed fully furnished, the sleek décor is perfectly placed and so put together.  Residents at Epic enjoy privileges like two pool areas one of which is exclusive for residents only, a five-star fitness center with top of the line equipment and areas for group workouts and yoga, 24-hour concierge, front desk and security, a private boat dock, access to many hotel amenities including EPIC Link which integrates residents to the amenities, and so much more.  Living at Epic West is like living on vacation 24/7.

For Sale at Icon Brickell

475 Brickell Avenue, #4113, Icon Brickell, List Price:  $995,000

The most unbelievable attribute of this two-bedroom, two-bath corner unit at Icon Brickell has to be the combination of 16-foot ceilings with floor to ceiling windows that seem to go up to the sky.  The southwest corner unit features beautiful white marble floors, a great kitchen area with lots of counter space and cabinets, water and city views and so much more.  Residents enjoy a state of the art fitness center, a two-acre pool deck that surrounds an Olympic sized pool, a theatre, dining and other Viceroy Hotel amenities.  Live within walking distance of Mary Brickell Village, downtown, shopping, the best restaurants and a short drive of the beaches, airports and major thoroughfares throughout the entire area.

465 Brickell Avenue, #2305, Icon Brickell, List Price:  $990,000

This 1,313 square foot unit at Icon Brickell has been perfectly upgraded.  Not only is it being offered fully furnished, it has a large balcony to showcase beautiful Miami views of the city and water, stunning white, Italian glass floors, custom built closets a  gourmet kitchen with Italian cabinetry, high end appliances and more.  The Icon Brickell amenities are outstanding with five-star restaurants, a state of the art fitness center, huge pool deck that surrounds an Olympic sized pool, valet, security, access to hotel amenities and more.  The location is ideal in the heart of Brickell within walking distance to Brickell Village, top restaurants, and the best shopping, not to mention being in close to the beaches, transportation hubs, and major thoroughfares.

Lots of Options with Brickell Real Estate

There are definitely lots of options with Brickell real estate that is priced at $1 million and below.  Condominiums in the heart of the Miami financial district carry a prestige that is unlike anywhere else in South Florida.  Brickell is THE place to live a cosmopolitan lifestyle in a beautiful topical atmosphere.  

Infinity at Brickell

Opened since 2008, Infinity at Brickell is a 52-story skyscraper that is known to be the seventh tallest building in Miami as well as Florida.  With commercial space situated on the second through 11^th floors, residential property begins at the 12^th and climbs to the top of the building.  The unique design of the sky lofts and sky flats draws Miami residents while the two-story lobby exudes the elegance and luxury expected in Brickell condominium.  Infinity at Brickell is truly an architectural masterpiece that is something to see. 

Location

Infinity at Brickell is located at 60 West 13^th Street just off Miami Avenue.  It is perfectly situated within walking distance to Brickell Village, shopping and dining.  Additionally, the beaches, Design District and other popular areas of Miami-Dade are a short drive away.  The major transportation hubs are within 15 miles of Infinity Brickell with the major arteries into and out of Miami surrounding the condominium. 

Amenities

Infinity at Brickell offers some of the best amenities in Miami.  Residents are always found at the pool or in the pool lounge area where there are games, a bar area and tons of room for entertaining.  Additionally, there is a full service, state of the art, fully-equipped fitness center with group classes and individual training as well as locker rooms, sauna and steam rooms.  All residents also enjoy 24-hour concierge and doorman services as well as security and valet parking, and air conditioned storage lockers.

For penthouse residences located between the 40^th and 52^nd floors, there is private access to Club Infinity where the residents have exclusive use of a private roof top area with a splash pool, beautiful tropical landscaping, a whirlpool spa, and gazebo for entertaining. 

Residential units are available with a combination of one, two, and three-bedroom Sky-Lofts.  Sky-Lofts offer condominium living from a different viewpoint.  The new design is a take on typical lofts where more room space is created by doing away with hallways and transitional areas.  Each residence is open and has high ceilings -- 10-20 feet depending on whether they are lofts or flats. 

Another unique feature is that each residence showcases the Florida sunshine and tropical atmosphere via floor to ceiling windows (or walls of windows as they are called).  Additionally, residents can relax on private wrap-around terraces that showcase panoramic city and water views.  Inside, highlights include large bedrooms with walk-in closets and baths with marble vanities, shower walls and floors.  Throughout each residence, there are designer fixtures and finishes.  The kitchen features Italian cabinetry, high-end appliances and granite counter tops. 

Real Estate

Infinity at Brickell real estate features list prices that vary with studios starting in the mid-$200s; one-bedroom sky flats in the upper-$200s; two-bedrooms in the upper-$400s and three bedrooms in the mid-$600s.   Two-story penthouse sky lofts climb to over $1 million. 

Since the start of the year, six (6)- one-bedrooms have sold with sale prices between the upper-$200s and low-$300s while four (4)- two bedrooms’ sale prices ranged from mid-$400s to mid-$500s.   One upper-level three-bedroom penthouse sold for just over $1 million. 

Real estate investors also find great interest in real estate here as Infinity at Brickell rentals are very popular.  Studios generate a monthly rental rate between $1,500 and $1,600 while one-bedrooms fall between $1,750 and $2,350 and two and three bedrooms range from $2,600 to almost $5,000.

 

Well Sought After Brickell Real Estate

Infinity features well-sought after Brickell real estate for many Miami residents from first time buyers to those seeking the ultimate in luxury penthouse living.  The location combined with the design in each residence and the community amenities make this the pinnacle of Brickell living.

Important Considerations for Foreign Nationals Buying Florida Real Estate

In 2012, according to the Florida Association of Realtors’ 2012 Profile of International Buyers, almost 20 percent of the total dollar volume of home sales was to non-resident foreigners.  To take that one step further, Miami real estate is a top pick in Florida for international home buyers with most buying homes for investments, vacation homes and temporary housing for those working or going to school in the United States.  With over 31 percent of international buyers investing in Florida real estate buying in Miami, it is important to be aware of the following considerations when buying Florida, and more specifically Miami real estate.

Openness.  The US differs from other countries in terms of the openness of the real estate market.  When a house goes on the market for sale, it is placed on the Multiple Listing Service so that every licensed agent has access to the opportunity of selling it to a client.   Even though the home has a sign in the front yard with the listing agent and company’s contact information, potential buyers choose their own agent to represent them  which is in contrast to other countries where the listing agent is the only one who deals with a specific property.  Sellers pay the commission for the entire transaction and split the payment between both sides in an agreed upon manner.

Financing.  After the economic crash a few years ago, financing home purchases by international buyers was very nearly impossible.  Primarily, because other countries do not have the same credit rating system, many banks were (some still are) reluctant to make loans to non-resident foreign buyers.  Because of this, most transactions are cash to the tune of 82 percent (FAR, Profile of International Buyers).  Over the past year or so, banks are loosening their reins and are more willing and able to offer financing to international buyers with several requirements such as maintaining reserves to cover mortgage payments for a period of time and a hefty down payment of 30 to 40 percent.

Taxes.  Many international buyers are not familiar with the taxes that are incurred from buying real estate in the United States.  But because they are not American citizens, the rules are more complex.  There are different rules with different taxes such as capital gains, tax on net income from investment property, estate tax and others.  The best thing is to seek advice and guidance from a tax attorney in the buyer’s home country to ensure they follow the proper procedures.

Intended Use.  Because the time non-resident foreigners can spend in the US varies depending on the reason for their stay, many international buyers should determine the intended use of their Florida property.  For example, unless they have a visa for work or school, foreigners are limited to six month stays in the US.  Because of this, many buyers use their Miami real estate as rental or investment property.  When working with an agent, it is important to consult with attorneys to have a complete understanding the ins and outs of owning Miami real estate. 

Do the Homework

Buying Miami real estate is a solid investment that comes with a lot of details.  We recommend that international buyers do their homework to ensure a smooth transaction and fruitful investment.