Hot Sunny Isles Beach Market Rebounding with Mass Condo Construction
by Sep Niakan | March 18, 2013
Several developers have plans in the works to bring almost 1,200 new condos to the 40-block of oceanfront real estate surrounded by the towns Golden Beach, Haulover Beach Park, and Biscayne Bay. As South Florida eases into a real estate boom following the 2007 housing-market crash, a number of Florida-based and international property developers are planning to bring at least 10 towers of waterfront residences to Sunny Isles Beach. Some of the projects already planned or under construction include the 35-story Chateau Beach, the 55-story Jade Signature, and the 57-story Porsche Design Tower Residences. Combined, the new developments will introduce 439 condo units into the local market
Sunny Isles Beach development is part of an even greater expansion throughout South Florida where there are currently proposals for over 100 condo towers in the markets of Miami-Dad, Broward, and Palm Beach counties. Indeed, well under 2,900 new units remain in inventory within South Florida’s largest coastal markets which host almost 49,000 combined units. As of the New Year, just over 300 new developer units remained unsold in the Sunny Isles Beach market, with 26 projects, encompassing nearly 6,350 units, created since 2003.
As Sunny Isles Beach’s condo inventory rapidly dries up, developers are rushing to propose new projects such as the 43-story Regalia, the 46-story Mansions at Acqualina, and the twin condo towers of the proposed 400 Sunny Isles project to expand the existing St. Tropez on the Bay project. As a new developmental era dawns in South Florida, Sunny Isles Beach property continues to be a hot commodity for developers as inventory is expected to become depleted by 2014.
|Porsche Design Tower Residences||Chateau Beach Tower||Jade signature|
by Sep Niakan | December 06, 2016
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by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...