MIDBLOCK: Miami at Your Fingertips

More and more people have work at home careers with today’s technology whether in sales or an office position.  That is why it is so important to have a space that accommodates home and work.  MIDBLOCK is a mixed-use building in Midtown Miami with a combination of lofts, townhouses and tower units.  It showcases some of the trendiest and most inviting properties Midtown Miami real estate has to offer.

Designed by Forum Architects, MIDBLOCK is undergoing a shift from a total rental community to a building with individually owned units.  One of the most unique qualities of MIDBLOCK is its architectural style that features a glass rotunda filled with retail and restaurants surrounded by townhouses and live/work lofts with tower units on top of the business levels.  MIDBLOCK has a coolness factor to it that appeals to buyers who have a desire to have a more updated and modern living space. 

Location of MIDBLOCK at Midtown

The physical address of MIDBLOCK is 3250 NE 1^st Street which is in the heart of Miami’s Midtown neighborhood.  The best part about living in Midtown is that it is surrounded by other great neighborhoods like Wynwood and the Design District and all that those areas have to offer.  In fact, it is often referred to SoHo in New York City – the only difference being that it is about a five minute drive of Miami Beach.  Additionally, it is very close to the major travel arteries and transportation hubs for which Miami is known.  In fact, MIDBLOCK is close to everything!  From here you can be anywhere in Miami in less than 10 minutes. 

Amenities at MIDBLOCK at Midtown

If being around some of the best shopping and dining is not enough, MIDBLOCK is full of amenities that make it a fantastic place to live.  Some of the most desirable include:

·         Covered gated parking
·         Pet-friendly
·         Rooftop patios and gathering areas
·         24-hour concierge
·         Key card access controlled elevators
·         24-hour security
·         Chic modern lobby
·         State of the art fitness centers
·         Rooftop swimming pool with 360-degree views of the city

From there, lofts are two-story with an upper level for bedroom/work area while the townhouse villas offer two stories with two bedrooms on the upper levels and the tower houses one and two-bedroom units.  Each unit is filled with tons of amenities and space to make living there pure bliss.  Some of the most notable features about the living space include 10-foot exposed concrete ceilings, large kitchens with stainless steel appliances, custom cabinetry and stone countertops, spacious master suites with large master baths and walk-in closets and more.  Other amenities for each of the residences include:

·         Pre-wired for electric, cable, high-speed Internet
·         Full-sized washer and dryer
·         Floor to ceiling windows
·         Spacious private terraces with amazing views
·         Private storage for each residence

Real Estate at MIDBLOCK at Midtown

The mix of residences at MIDBLOCK include apartment units, townhouses and loft units that range in size from just over 800 square feet for a one-bedroom tower unit to over 2,000 square feet for a loft and everything in between.  List prices start in the mid to upper-$300s and climb to over $600K depending on the type and size of unit.  Because it was a rental community up until recently, many of the units MIDBLOCK rentals already had lease agreements in place which makes this a huge opportunity for investors.  Investors can expect to get anywhere from $2,000 to $3,500 per month for rental rates.  

There are currently four units for sale at MIDBLOCK all in the Tower with list prices ranging from the upper-$300s to mid-$500s.  Over the past six months, 13 units at MIDBLOCK have sold with sale prices falling between the upper-$300s and low-$500s. 

MIDBLOCK Reflects a Growing Economy

MIDBLOCK is a perfect example of how the real estate market pendulum has swung in the right direction and reflects a growing economy.  With 13 sales under its belt since it went from an entirely rental community to individually-owned units, it shows that there is a need for properties of this caliber.  MIDBLOCK is what Miami real estate buyers want – especially when Midtown is where they want to be.

Midtown Miami Real Estate – Luxury Rentals

When you say the words Midtown Miami, the first thought is that this neighborhood is in the middle of Miami.  And it is.  Some call it the hub while others call it the epicenter.  That might be a stretch as Brickell (Miami’s Financial District) is more of the epicenter, Midtown is certainly in the center of the city.  And its prime location sits perfectly surrounded by other cool Miami neighborhoods with downtown Miami just south, the Design District to the north and the majestic Biscayne Bay on the east. 

Midtown is the product of a desire for residents to live in an area where there is excitement and life.  One of the most appealing traits of this hip neighborhood is the walkable streets with delectable restaurants, art galleries and other interesting venues.  And let’s face it…there is always a breeze coming off the Bay making it very pleasant to meander along the palm tree lined streets.  

Over the past few years, Midtown has really come alive.  Prior to the economic crumble, Midtown was on the verge of redevelopment but that all came to a halt.  Then about three years ago, the construction restarted and the regrowth again began to happen.  Developers are in building mode and have several Midtown Miami condominiums in the works. In fact, real estate surveys indicate that the 33137 zip code which encompasses Midtown, the Design District and Wynwood, is one of the most rapidly appreciating areas in the US.  

Midtown Miami Attractions

Besides Biscayne Bay, there are several Midtown Miami attractions that draw residents and visitors to this urban neighbor with a small-community feel.  The ability to enjoy all that Midtown has to offer including the pedestrian promenade with sculpted medians, paved sidewalks and tropical landscaping. 

Midtown Miami offers outstanding shopping, art galleries and, of course, excellent restaurants and exciting nightlife.  But surrounding this neighborhood are other cool and upcoming neighborhoods.  Wynwood and The Design District are situated just north of Midtown and are home to some of the most eclectic art galleries and retail shops as well as really high-end shops like Cartier and Hermés that have relocated to the Design District.  To the east is Edgewater, an established part of Miami that is undergoing a major revitalization.

A major attraction under development is Museum Park.  This is a 29-acre waterfront park with a new Museum of Science and Space Transit Planetarium and the new Miami Art Museum under construction as well as tons of green space and gorgeous bay front views.  Museum Park is Miami’s answer to NYC’s Central Park. 

Renting Midtown Miami Real Estate

While Miami residents and investors are drawn to buy Midtown Miami real estate, others are very open to renting in here.  There are so many options for renting in some of the most well-known condominiums from lofts to high-rise buildings. 

Amenities in most of them include the obvious – valet and concierge services, resort-style outdoor pools, state of the art fitness centers, reserved parking, and more.  With the newer condominiums, they are wired for today’s technology.  Inside residences, owners and guests enjoy fantastic views, have stainless steel appliances and granite counter tops, and great walk-in closets. 

One-bedroom units in condominiums like Bay Park Towers and Biscayne 21 start around $1,500 per month and climb to around $2,500 per month in luxury buildings like Two Midtown and Four Midtown.  As for two-bedrooms and more, monthly rental rates start at about $1,900 at Charter Club, Midblock at Midtown or Cityscape while three-bedrooms start at about $3,500 at Two Midtown.  On the upper end, monthly rates climb to about $10,000 for a two-bedroom and $13,000 at Paramount Bay.

Midtown rentals are ideal for those who live and work in the area as well as investors looking for solid investments.  While many condominiums accommodate only long term and annual rentals, there are some that do allow short term rentals whether monthly or quarterly.

In the Middle of Everything

The Midtown neighborhood is in the middle of everything and is always a favorite area of Miami in which to live.  It has tons of great characteristics like location and affordable Midtown Miami rentals but also has that cool factor that is always present when living in Miami. 

MIDBLOCK at Midtown

Originally built prior to the recession, MIDBLOCK at Midtown is a combination of lots, townhouses and tower units.  It was developed by the Midtown Equities and designed by renowned architect, John Nichols, and became a rental community as opposed to individually owned units in a condominium property.

In the last few weeks, MIDBLOCK’s sales were launched to a very warm reception by prospective buyers.  With the huge demand on Miami real estate in the Midtown, Brickell and surrounding neighborhoods, MIDBLOCK is destined to be a well-sought after address for many Miami residents.

Location of MIDBLOCK at Midtown

Located at 3250 NE 1^st Street, in the center of Miami’s Midtown neighborhood, MIDBLOCK is close to everything in one of the most popular cities in the world.  Located minutes from the arts, culture and entertainment in the surrounding neighborhoods like Wynwood and the Design District, MIDBLOCK is steps away the best retail locations and favorite restaurants around town.  Midtown is Miami’s equivalent to SoHo in NYC and is only five minutes from Miami Beach and in close proximity to I-95 making the Port of Miami and major international airports easily accessed. 

Amenities at MIDBLOCK at Midtown

This boutique condominium features some of the best amenities in this part of Miami.  Designed by renowned architect, John Nichols, this spectacular condominium offers residents excellent amenities like 24-hour concierge and security, a rooftop gathering area along with a large swimming pool, a state of the art fitness center with private training, covered gated parking, key card access controlled elevators, and ground level retail and restaurants.

In each unit, owners enjoy a private terrace, floor to ceiling impact resistant windows, a large kitchen with stainless steel appliances, custom cabinetry and stone counter tops, master suites with large master baths and spacious walk-in closets and more.  The floor plans call for spacious living areas with 10-foot exposed concrete ceilings for a very modern lofty atmosphere.  The lofts are laid out for a live-work lifestyle while the tower units and townhouse offer two bedrooms.  All units are pre-wired for electric, cable, high-speed Internet and come with a full-sized washer and dryer.

Real Estate at MIDBLOCK at Midtown

The mix of residences at MIDBLOCK include apartment units, townhouses and loft units that range in size from about 890 square feet to over 2,800 square feet.  Since the units at MIDBLOCK at Midtown have been rental units, many of them are under lease agreements that end between the remainder of this year into 2014.  MIDBLOCK is an excellent investment opportunity because of the strong rental histories and the fact that many currently have renters in them.  

List prices vary with one-bedroom tower units ranging between the low to mid-$300s to high-$300s while lofts range from the mid-$300s to low-$600s.  For two bedrooms residences, tower units fall between the mid-$400s and upper-$700s with townhouses starting in the upper-$400s and climbing to over $600K. 

Continued Growth in Midtown Real Estate

MIDBLOCK is another example of the continued growth in Midtown real estate.   This condominium property is an architectural showpiece with beautiful views and easy access to everything.  For full-time residents who work in the area or who have the ability work at home, this is a great spot to settle.  For investors, buying rental property with strong rental histories and leases in place puts the investment at an advantage.  MIDBLOCK definitely offers some of the best options in Midtown condominiums.