SLS Brickell Update May 2013

SLS Hotel and Residence Brickell is definitely taking shape with reservations going under contract.  The property, which will be located at 1300 South Miami Avenue, features retail on the ground floor with three hot restaurants – Katsuya, Bazaar by Jose Andres and a restaurant by Michael Schwartz of Michael’s Genuine.   

The Related Group and Phillppe Starck have a vision with SLS Hotel and Residences Brickell.  The design aesthetic is like nothing else in Brickell with its multi-colored stripes and diagonal lines.  It will truly be an architectural masterpiece that will stand out among all other Brickell condominiums and hotels.

In addition to the hotel occupying the 3^rd through 9^th floor and the condominium residences occupying the rest of the 52-story building from the 10^th floor, the plans are for the 9^th floor to feature top of the line hotel amenities (also available to condo owners) including a state of the art fitness center, a party room, screening room, a long pool, private spa and Hyde Lounge.  There will also be a 3,000-square foot business center with private meeting rooms, an 8,000 square foot ballroom for events, and a rooftop pool and lounge area exclusively for condominium residents.   It is important to note that even though, this property features a hotel and condominium residence, it is NOT a condo-hotel.

Real Estate Update at SLS Brickell

Construction on SLS Brickell is still slated to begin at the end of the year – November 2013 – with completion sometime in 2016. To date, almost of the condominium residences are reserved.  The most recent inventory list show that the following are the units still available for purchase:

Unit	Description	Square Feet	Unit Orientation	List Price
4807	1-BR/1-BA + DEN	698	W	$438,900
3208	1-BR/1-BA + DEN	762	W	$447,900
5108	1-BR/1-BA + DEN	762	W	$565,900
5208	1-BR/1-BA + DEN	762	W	$547,900
UPH-5	1-BR/1-BA + DEN	762	W	$599,900
3404	1-BR/1.5-BA + DEN	810	E	$502,900
5009	2-BR/2-BA + DEN	1,115	W	$643,900
5109	2-BR/2-BA + DEN	1,115	W	$645,900
5209	2-BR/2-BA + DEN	1,115	W	$688,900
UPH-6	2-BR/2-BA + DEN	1,115	W	$745,900
1001	2-BR/2-BA + DEN	1,495	NE	$738,900
1201	2-BR/2-BA + DEN	1,495	NE	$763,900
1205	3-BR/2.5-BA + DEN	1,505	SE	$851,900
1505	3-BR/2.5-BA + DEN	1,505	SE	$879,900
1006	3-BR/2.5-BA	1,346	SW	$641,900
1806	3-BR/2.5-BA	1,346	SW	$726,900
4506	3-BR/2.5-BA	1,346	SW	$826,900
PH
4903	3-BR/3.5BA + DEN	2,270	E	$1,984,900
5003	3-BR/3.5BA + DEN	2,270	E	$2,056,900
4905	4-BR/3.5-BA	2,332	SE	$2,227,900
5005	4-BR/3.5-BA	2,332	SE	$2,306,900
4906	4-BR/3.5-BA	2,125	SW	$1,721,900
5006	4-BR/3.5-BA	2,125	SW	$1,822,900
5106	4-BR/3.5-BA	2,125	SW	$1,817,900
4910	3-BR/2.5-BA + DEN	1,845	NW	$1,299,900
5010	3-BR/2.5-BA + DEN	1,845	NW	$1,356,900
5110	3-BR/2.5-BA + DEN	1,845	NW	$1,333,900
5210	3-BR/2.5-BA + DEN	1,845	NW	$1,419,900

Units are reserved with the following down payments:

• $30,000 for one-bedroom units
• $40,000 for two-bedroom units
• $50,000 for three-bedroom units

Following the reservations, the payment schedule for buyers as follows:

• Reservation Down Payment Listed Above
• 10% at Contract – Approximately 2-13 Months Later
• 10% at Ground Breaking – November 2013
• 10% at 25^th Floor – Approximately 9 Months After Groundbreaking
• 10% at Top-Off – Approximately 9 Months After Previous Payment
• 50% at Closing/Completion -- 2016

Keep an eye on this blog as Miami Riches continues to update the progression of SLS Hotel and Residences Brickell.  This project is an exciting addition to the Miami skyline and one that is expected to create a lot of stir once construction begins.   

Top Five Brickell Rentals Under $5,000/Month

Brickell is the major financial district in Miami as well as all of South Florida with a huge concentration of international banks and investment firms as well as most of Florida’s foreign consulates.  Frequently called the “Manhattan of the South,” Brickell is a fast-growing urban section of Miami filled with a diverse group of people who revel in the combination of a fast-paced metro area with the tropical atmosphere. 

In terms of Brickell real estate, this popular part of Miami is filled with high-rise residential condominiums some of which are luxury residences as well as apartment towers.  Restaurants, shops and entertainment add to the thrill of living in Brickell.  Not only are there tons of opportunities for buying real estate, there are tons of Brickell rentals for those who prefer to rent instead of buy.  From just over $1,200 per month to almost $20,000 per month, rentals are available in most every condominium and apartment tower in Brickell.  Following are the top five Brickell rentals under $5,000.

For Rent at Icon Brickell

485 Brickell Avenue, #2910, Icon Brickell Viceroy, Monthly Rental:  $5,000

This is an excellent opportunity to live at one of Brickell’s most exclusive addresses.  This two-bedroom/two-bath corner residence is located in the condo/hotel tower.  Not only are there the most amazing city views and views of the elegant two-acre pool deck, but there is a wonderful kitchen with high end appliances and contemporary Italian cabinets as well as elegant spa-like baths, nine-foot ceilings, floor to ceiling impact resistant windows and more.   Enjoy access to five-star hotel amenities including the resort-style pool deck, valet parking, 24-hour concierge, a boat dock at Biscayne Bay and other exclusive options.  Live in the center of one of the hottest areas in the country within walking distance to unbelievable restaurants, parks, the Bay and so much more.

495 Brickell Avenue, #2810, Icon Brickell, Monthly Rental:  $5,000

Life at Icon Brickell is one that is luxurious, exclusive and convenient.  Centrally located in the most popular part of Miami, the two-bedroom/two-bathroom home in this all-residential tower at Icon has everything anyone could ever want from a well-appointed residence with top of the line fixtures and finishes to unbelievable amenities like valet parking, 24-hour concierge, a beautiful pool with extensive pool deck, and more.  This is one of the absolute best addresses in Brickell.

485 Brickell Avenue, #2202, Icon Brickell Viceroy, Monthly Rental:  $4,900

This is a two-bedroom/two-bath home in the Viceroy allows its residents the luxury of hotel-living in the most popular part of Miami.  Residents enjoy an Artefacto custom-designed, fully-furnished home with panoramic views from every vantage point.  Some of the amazing features in this home include an audio/video package with a Bang and Olufsen sound system, two plasma televisions, a wonderful kitchen with high end appliances, counter tops and cabinetry, and more.  Additionally, the hotel’s five-star amenities are part of this ideal place to live.  The resort-style pool situated on two acres, valet parking, a state of the art fitness center and other conveniences are part of the plan.  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.

For Rent at the Millennium Towers

1425 Brickell Avenue, #46D, The Millennium Towers, Monthly Rental:  $5,000

Live in the lap of luxury in this beautifully furnished one-bedroom/one and a half bath annual rental in the Millennium – Miami’s most exclusive building in all of Miami.  It features a contemporary designed L-shaped galley kitchen that includes stainless steel appliances and a wine cooler.  The open floor plan showcases high ceilings and amazing views of the city from spectacular balconies.  Other amenities include full access to the Four Seasons amenities like the state of the art fitness center, elegant pools with sun decks, a bar and easy access to hotel restaurants.  Life is easy at the Millennium! 

For Rent at the Mayfield Conrad

1395 Brickell Avenue, #2602, The Miami Conrad, Monthly Rental:  $4,900

Nothing says luxury like the sparkling Mayfield Conrad in Miami!  This three-bedroom, three-bath is fully furnished with a contemporary design and expansive views of the city and bay.  With spacious rooms and updated finishes and fixtures make the almost 1,900 square foot residence everything anyone can imagine.  Spa like baths, a great contemporary kitchen and large living areas provide the comforts of home with high-line amenities.  On top of this, the hotel amenities are full accessible to residents and include a world-class spa, pool, tennis courts, gym, relaxing lounge, pool bar, tennis, concierge, valet, and much more. 

The Perfect Place to Live in Brickell

For those interested in Brickell rentals, $5,000 and less allows them to live the good life.  There are tons of opportunities for various size condos from one-bedroom to three bedrooms making it fairly easy to find that perfect place to live in Brickell.  

Most Popular Marinas for Miami Boat and Yacht Owners

With so many miles of waterways and canals in the Miami area, it is no wonder that boating and yachting are favorite pastimes of Miami residents and visitors.  From cruising around one of the area canals to the Intracoastal Waterway and out into the Atlantic Ocean, boating in the warm Florida sunshine and pristine blue waters is something that everyone enjoys.  While many owners have the ability to dock their vessels along their private docks, others living in Miami condominiums or non-waterfront homes choose to moor their vessels at area marinas and yacht clubs.  Whether privately-owned or city-owned, there are more than several from which to choose depending on where you live.  Following are three of the most popular city-owned marinas in Miami along with available Miami real estate.

Downtown Condos for Sale

Miamarina at Bayside, 401 Biscayne Boulevard

Owned by the City of Miami and situated in Downtown, this is probably one of the most popular marinas in the area.  Located adjacent to Bayside Marketplace and all of its shopping and dining, it is close to everything.  Area condominium residents can easily keep their vessels here with no concern.  It is situated on the ICW with no fixed bridges at the west end of the Government Cut and features 130 slips that accommodate vessels up to 150 feet in deep water slips.  One of the nicest advantages is that Miamarina dockage is available on a transient, long-term or commercial basis which is great for those wanting to enjoy Miami by boat.  With attractions like the Miami Children’s Museum, American Airlines Arena and others so close to the marina, this is a very popular marina for many area boaters and yachters. 

In terms of downtown real estate that is close by, some of Miami’s most famous downtown addresses are a short walk or drive from Miamarina with list prices ranging from the mid to upper-$100s for a studio or one-bedroom at the Lofts Downtown and Capital Lofts to luxury multi-million dollar penthouses at condominiums like Ten Museum Park, Marquis and 900 Biscayne, there is definitely a Downtown Miami condo to fit every budget.

For Sale in South Beach

Miami Beach Marina, 300 Alton Road

Miami Beach Marina is located on the southwest tip of South Beach at the east end of the Government Cut just across from Fisher Island.  Accommodating up to 400 boat slips for vessels up to 250 feet, this marina offers fresh water, electricity, telephone, and cable hook ups for each slip as well as a control tower with state of the art weather service and 24-hour dock attendants and security.  It also features a heated swimming pool, laundry and shower facilities, air conditioned restrooms and washers and dryers.  With taxi service to world-famous South Beach activities and entertainment, this is an outstanding Miami marina.  

South Beach real estate features a number of condominiums in SoFi and other parts of South Beach that are close by so that boat and yacht owners are near their prize possessions.  Overlooking the marina are condominiums like Icon South Beach, Murano Portofino, Yacht Club at Portofino, and Murano Grande with list prices starting in the mid-$600s at Icon South Beach to the multi-millions at Murano Portofino and Yacht Club Portofino.  Just a short distance from the marina are some of the most exclusive SoFi condominiums including Portofino Tower, Apogee, South Pointe Towers and Continuum.  These condominiums sit on the southernmost point of Miami Beach and feature some of the most unbelievable panoramic views of all of Miami, the ICW and the Intracoastal Waterway.  List prices in these condominiums start in the mid to upper-$700s and low-$800s for a studio or one-bedroom unit at South Pointe Tower and Continuum and climb to over $20 million for a penthouse residence at Apogee. 

For Sale in Coconut Grove

Dinner Key Marina, 3400 Pan American Drive, Coconut Grove

So much history surrounds Dinner Key Marina beginning with its location in Coconut Grove.  It was originally developed as a naval air station in 1917 then served as a base for Pan American’s famous Clippers, and again as a naval air station during the World War II.  Surrounded by much of what historically was Pan American Airways terminals and other historical sites, today, it is a popular City of Miami-owned marina for Coral Gables and Coconut Grove residents as well as those visiting the area.  It is close to historical sites like Villa Vizcaya, a museum and former home of International Harvester founder James Deering as well as a short walk to the center of Coconut Grove village and CocoWalk. 

Comprised of 582 slips and long-term moors, the marina is Florida’s largest wet slip marine facility and features modernized mooring for many sizes of yachts and vessels.  It also houses a mooring facility just off shore where high-quality steel moorings provide additional space for boat and yacht owners who berth their vessels at the Marina on a long-term basis.

In terms of Coconut Grove real estate, several area condominiums close by include the Grovenor House, Cloisters on the Bay, Mutiny Park, and the Ritz Carlton Coconut Grove where list prices start in the mid-$100s at Mutiny Park and climb to the multi-millions at Grovenor House and the Ritz.  As for single family home Coconut Grove neighborhoods, some of the most exclusive neighborhoods are within a very short drive and have list prices from the upper $600s to the multi-million dollar level.

Many Other Marinas

Because of the extensive waterways, there are so many other marinas in and around Miami that it would take forever to list and describe every one of them.  From public marinas where visitors can dock for a day or a week to private yacht clubs with marinas and private slips, any boat or yacht owner interested in Miami real estate has the ability to find the perfect residence as well as the perfect marina.  After all, it is Miami!

Top Five $1 Million Properties in South Beach Miami

When anyone thinks of South Beach, they think of beautiful people in beautiful clothes enjoying life in one of the most “tony” parts of the country.  Or they may think of how celebrities come to this part of Miami for some time on the white, sandy beaches at one of the elite five-star hotels.  No matter the notions created, one thing for sure is that South Beach is all that and more.

In South Beach, while there are single family homes dotting the streets, much of South Beach consists of upscale, contemporary condos.  For anyone interested in South Beach real estate, following are the top five properties for $1 million.

200 Ocean Drive Condos for Sale

200 Ocean Drive, #3D, 200 Ocean Drive Condo, List Price:  $1,020,000

Located in the popular SoFi part of Miami District, this Ocean Drive condo is a corner unit facing the ocean.  It features impeccable design and décor that is sure to make it a favorite gathering space for entertaining.  200 Ocean Drive offers a wonderful tropical pool, workout facilities, security and assigned gated parking.  For investors, there is a liberal leasing policy.  With the beach and park just acrose the street, this is a great property for anyone wanting to live the South Beach lifestyle.

W South Beach Condos for Sale

2201 Collins Avenue, #1103, W South Beach, List Price:  $1,045,000

The W South Beach is the epitome of luxury living.  This oceanfront property offers the indulgence of the W Hotel with the opportunity to own property of this caliber.  The studio unit is fully furnished, features southeast ocean views and is ready for occupancy.  Living the vacation lifestyle is achievable at W South Beach with complete pool and beach services and access to Bliss Spa and top restaurants, Mr. Chow, the Dutch and Club Wall.  The W South Beach’s location is within walking distance to everything that anyone loves about South Beach. 

2201 Collins Avenue, #1023, W South Beach, List Price:  $1,050,000

Nothing says prestigious like living at the W South Beach.  This studio features the most amazing ocean views from the private balcony and tasteful décor.  Property owners have access to all of the hotel amenities including the fitness center, pool and beach services, spa services and more.  Additionally, property owners can take advantage of the in-house property management and rental services. 

Armitage Place Condos for Sale

243 Meridian Avenue, #214, Armitage Place, List Price:  $1,050,000

Located South of Fift, this two-story townhouse features three bedrooms and two and a half baths, as well as a beautiful kitchen with improted Italian wood floors, maple kitchen cabinets, granite counter tops, and stainless steel appliances.  As a corner unit, there are windows on three sides along with four balconies.  Other amenities include two parking spaces, building security, a beautiful swimming pool and a plaza with fountain.  This building has a true resort feel with its unique Mediterranean architecture in a quiet location. 

1500 Ocean Drive Condos for Sale

1500 Ocean Drive, #507, 1500 Ocean Drive Condo, List Price:  $1,100,000

Here is an opportunity to live in a gorgeous oceanfront condominium that features a gourmet kitchen with Sub Zero refrigerator and granite countertops, spa-like baths with marble floors and Jacuzzi tubs, floor to ceiling glass windows and a balcony accessible from every room.  Fully furnished with updated and modern décor, this unit is one of the best oceanfront values in South Beach.  Amenities include concierge, an outdoor pool, spa, gym and storage.

San Marino Homes for Sale

300 E San Marino Drive, San Marino Island, List Price:  $1,075,000

Yes you can own a single family home in South Beach.  Considered part of South Beach, this home is located on one of the exclusive Venetian Islands in Biscayne Bay.  It offers so many unique features that are not seen in today’s new construction homes as it was built in 1939 but has tons of opportunities for renovations and updates. 

South Beach is All About Location

While in other parts of the area, $1 million buys more property, South Beach is all about location.  South Beach real estate brings together contemporary and exotic  to create an atmosphere in which most people only dream of living.  

SLS Brickell Update

On the heels of other successful Brickell condominiums going under construction, the Related Group recently announced its plan for a new hotel/condominium building in Brickell.  The SLS Hotel and Residences Brickell is officially on the books and tentatively slated to start construction late this year.  The Daily Business News said in a recent article that “Brickell is experiencing a demand for hotel rooms.”  This new project is a new project that will answer those demands by designing a luxury boutique hotel with luxury condominiums.   

SLS Hotel and Residences Brickell Details

The Related Group and Philippe Starck are embarking on the SLS Hotel and Residence Brickell that will include a 52-story building with three restaurants – Katsuya, Bazaar by Jose Andres, and another restaurant by Michael Schwartz (Michael’s Genuine Kitchen) as well as a luxury boutique hotel occupying the 3^rd through 9^th floors; and 451 condominium residences from the 10^th to the 51^st floors (11 units per floor).  The condominium residences will consist of one, two, and three-bedroom residences with square footage ranging from 717 square feet to just over 1,500 square feet.   Arquitectonica, the architectural firm behind the likes of the Miami Museum of Art, the South Miami Cultural Arts Center and more, will design this spectacular building. 

Location

The SLS Hotel and Residences Brickell’s address is at 1300 South Miami Avenue which his adjacent to Infinity in the heart of Miami’s fianancial district.  Also close to Brickell Village and CitiCentre which is also under construction, the views from SLS Brickell showcase Biscayne Bay and the Miami skyline.   Brickell real estate is situated in the hub of Miami action where residents have access to every part of the entire metro area including the Design District, Wynwood Arts District and the beaches.  

Amenities

Residents at the SLS Hotel and Residences Brickell have access to all of the hotel amenities most of which plan to be on the 8^th floor and include the hotel swimming pool along with access to the Hyde Lounge, Ciel Spa, state of the art fitness center, executive business center and grand ballroom.  On top of that, amenities slated are a 3000-sqare-foot business center with private meeting rooms; a roof-top exclusive pool and lounge area exclusively for residents of the condominiums; floor to ceiling windows; top of the line appliances; valet and concierge services; and more. 

Real Estate at SLS Hotel and Residences Brickell

Since its announcement, the reception has been unbelievable!  In fact, the number of allowed pre-reservations has been met and the developer has created a waiting list.  At the time the applications go to contract, those on the waiting list will be given the opportunity to purchase a residence should a potential buyer opt out of the pre-reservation.  If a potential buyer on the waiting list receive an opportunity to opt-in, at that point, the deposit must be made (10 percent of the sale price). 

The pricing has been adjusted from what was first announced and is as follows:

Line#	Type	AC/SF	Location	Approx. Starting Price
01	2BR/2BA+Den	1,486	NE Corner	From the $700s
02	2BR/2BA+Den	1,290	East	From the $600s
03	1BR/2BA+Den	971	East	From the $400s
04	1BR/1BA+Den	813	East	From the $400s
05	3BR/2.5BA+Den	1,505	SE Corner	From the $800s
06	1BR/1.5BA+Den	1,332	SW Corner	From the $600s
07	1BR/1BA	717	West	From the $300s
08	1BR/1BA+Den	734	West	From the $300s
09	2BR/2BA	1,137	West	From the $400s
10	2BR/2BA+Den	1,362	NW Corner	From the $500s
11	2BR/2BA	942	North	From the $400s

Construction is expected to start in November with a payment schedule for buyers as follows:

• 10% with Reservation (April 2013)
• 10% at Contract (July 2013)
• 10% at Groundbreaking (November 2013)
• 10% at 25^th floor (9 months after groundbreaking - August 2014)
• 10% at Top off (June 2015)
• 50% at closing (mid-2016)       

As we said before, the Miami skyline is being transformed in response to the huge demand for Brickell real estate by real estate investors and buyers who are actively searching for property in this and most other parts of Miami.  Over the next year, more and more luxury condominiums are slated to take shape throughout the area.  As SLS Hotel and Residences Brickell begins to come together, its demand will continue to grow.  One thing is for sure, Miami real estate is in high demand and will continue to grow.  

South Beach Lofts

When most people visit Miami for the first time, they end up in South Beach (SoBe). The lifestyle in South Beach is unlike any other in the country.  The most beautiful people combined with a tropical Florida lifestyle embodies what anyone imagines when thinking of living in Miami. 

South Beach lofts take the Miami lifestyle one step further with their contemporary “Miami” architecture and tropical feel that comes with living there. With loft condominiums in South Beach, residents live in smaller boutique condominiums with a significantly smaller number of homes than in the high rise buildings.

While there are a good number of loft condominiums scattered throughout SoBe, there are only a handful of units for sale at any given time.  The common thread throughout the majority of loft condominiums is that they are in such demand that they sell quickly.  Following are several South Beach loft condominium buildings that feature some of the most fabulous homes in truly one of the most fabulous parts in all of South Florida:

Lofts at South Beach, 1701 Sunset Harbour Drive

The Lofts at South Beach are located at the edge of the Venetian Causeway offering easy access to the action of Downtown Miami as well as Lincoln Road in the opposite direction. As the only SoBe loft condominium with direct Biscayne Bay views, this exclusive home offers the ideal SoBe lifestyle in a serene setting.  Each home features the best of everything with open and airy living areas, European style kitchen with high-line cabinets, counter tops, and stainless steel appliances as well as oversized, impact resistant windows that overlook the majestic Biscayne Bay.  Built in 2004, The Lofts at South Beach is a five-story building that has office and retail space on the first two floors with 24 units scattered between remaining three stories.   Residence sizes range from just under 1,000 square feet to over 2,600 for a penthouse loft that was redesigned by combining two units into one larger one.  Residents enjoy a rooftop terrace, gated electronic intercom access, indoor parking and a wonderful heated pool.  In the past 12 months, five units have sold with sale prices falling between the upper-$200s and $600K with the average number of days on the market at 47 days.  Currently, the penthouse loft is listed for sale with a list price at $1.5 million.  

Claris Lofts, 234 Meridian Avenue

Built in 2006, Claris is situated in the chicest section of South Beach known as South of Fifth (SoFi).  This is a unique loft condominium in that it consists of two buildings with the front building housing four townhouses and the back building housing three tri-level loft residences all surrounded by lush and tropical landscaping.  Just three blocks from the beach, it is a very exclusive address because of the small number of residences.  The loft residences feature floor to ceiling high-impact windows that showcase the most amazing views and private roof-top terraces in addition to exquisitely modern kitchens with high-end appliances, counter tops and cabinetry.  Other appealing characteristics include private garages which are uncommon in SoBe as well as 25-foot ceilings.  The only unit listed for sale is priced just under $1 million.  No units have sold in the past 12 months and after seeing a loft at Claris, you will know why.  This is absolutely South Beach living in its truest form.

Absolut Lofts, 245 Michigan Avenue

When seeing the word “Absolut,” affluent comes to mind.  With Absolut Lofts, this rings true.  This loft condominium is located in exclusive SoFi and features only 20 split-level units scattered around five stories.  There are two styles of residences at Absolut – garden lofts and penthouse lofts.  The garden lofts are distinctive in that they have their own private entrances as well as small courtyards while the unique characteristic of the penthouse lofts are the private roof-top terraces.  Designed by famed architecture firm, Kobi Karp (1101 Brickell), Absolut Lofts were built in 2005 and offer a very chic lifestyle to those who have the chance to call this address home.  Current list prices fall between the mid-$600s to upper-$800s with sale prices of the two that sold over the last 12 months in the same range and the average number of days on the market at only TWO days.  For investors, monthly rentals range from around $3,000 to over $4,000. 

Industry Lofts, 1560 Lenox Avenue

Industry Lofts embody the true loft experience with its industrial aesthetic design.  Originally a telephone company, the residences feature exposed ceilings, A/C ducts, and other loft characteristics.  Zoned live/work, this is ideal for those who have the desire to live and work in the same location.  With retail on the first floor and a total of 17 residences on the other two stories, the location of Industry Lofts I perfect as it is one block from Lincoln Road.  Inside each residence, there are gourmet kitchens with top-quality appliances and fixtures as well as high ceilings and contemporary finishes.  Other great qualities include an elevator and huge roof top garden with a Jacuzzi and sundeck.  In the past year, two units have sold with sale prices in the mid-$300s and mid-$400s and the average number of days on the market at only 30 days.  For investors, rental rates are anywhere between $3,000 and $4,000 per month.

More Lofts in South Beach

While there are more lofts in South Beach, the number of opportunities to purchase a loft condominium is few and far between.  Too many to name, when one is listed, it is gobbled up virtually within the snap of a finger which is why it is so important to work with a Miami Realtor who has his finger on the pulse of the market and even more important to be ready to buy.  Lofts in and of themselves are very contemporary and cool but put them in tropical South Beach and they also become very exotic.  There is nothing like living in a South Beachloft.