Miami real estate news and information

Midtown Miami … Exploding

Midtown, described as “a neighborhood that offers a contemporary interpretation of urban living and a lifestyle rich in the amenities and conveniences of city life … within an intimate artistic and culturally-enriched community”  is one of Miami’s new hot spots.

The developer of Midtown 2 and 4 considers the area to be “better priced than comparable buildings in Brickell and Downtown”.  He says “Midtown is experiencing uncharacteriscally high demand…  as residential real estate goes,  with high rental rates that are continuing to increase … and in some cases match rental prices in luxury buildings like the Icon Brickell.”

Midtown has seen exponential growth in a relatively short period of time …  residential and commercial.

As the brainchild of Midtown Equity Group, the Midtown community is referred to as the new SoHo of Miami, hosting Art Basel, and about to become  home to stores like Cartier, Prada, Ferragamo, Hermes, Louis Vuitton, all of which are moving from Bal Harbour and all slated to be going into a high end, pedestrian shopping center in the heart of Midtown.

Similar to the transition that the Brickell area went through  (right before it’s boom) … (when the announcements of the Four Seasons and Mandarin Oriental were made)… Midtown is going through a similar transition – and very rapidly.

Midtown is becoming the Artistic-SoHo of Miami along with Wynwood, the Art District and the Miami Design District …

SOME OF THE NEWEST BUILDINGS ARE IN HIGH DEMAND:

2 Midtown is sold out.  The only units available for purchase are resales in that building)…

4 Midtown is selling out.

The developer of  4 Midtown sold 160 units in the first 4 months since launching that particular building.  … and is now selling units to investors with tenants already in place.  In Midtown 4 there are about 150 units  available for purchase right now.

The entire Midtown area  has sparked intrigue and appeal,  internationally, with it’s artistic and trendy vibe.  Designer retail stores (high end name brands) are relocating to Midtown from Bal Harbour… adding to the infrastructure that is already solidly in place in Midtown … with it’s dining, culture, entertainment and walkability …  Midtown has the added plus of being centrally located, and close to everything (the beaches/shopping/dining … and within a quick cab ride to and from Miami International Airport).

For more information on Midtown Miami or questions about investing in Miami’s hot spots … contact the Restivo Team  at EWM Realtors [email protected]  … Vicki and Alexandra 305 793-1365 or drop us a note here.

 

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