Apartment Rentals & Sales Miami FL

I hadn’t been to North Bay Village in a few months so when another Realtor suggested to a client and I Space01 I almost shrugged it off. However I knew the area from past research and the Realtor was very enthusiastic so we decided to take a look.

It turns out that Space01 is a pretty neat loft building! Huge, huge, huge floor-to-ceiling glass with windows that open too. The living space with infinity-edge tub overlooking Biscayne Bay really adds that extra special touch.

There is a nicely equipped master bath, and one thing that was really neat (but I didn’t get a shot of!) is that one of the picture windows just happened to perfectly frame Downtown Miami - I mean we are talking stunning composition through pure providence.

Space01 features modest amenities, with rooftop pool, and secure parking all in a convenient location on the JFK Causeway between South Beach and Miami proper.

Yesterday I stopped by Onyx on the Bay and showed 01, 03, 04, and 05 units to a client.

Onyx on the Bay is open, but like much of the construction in Miami not quite finished yet. The pool looks done and is on the waterfront and the fitness center is also completed at this time. The Great Room, sauna, and other features as well as some of the common areas (hallways) are still works-in-progress but should not take too much longer to complete. Beautiful lobby, but one question - where is the Onyx? I’m not an expert but the concierge’s desk didn’t look like it me!

As for the important part, the condos themselves, I thought 04 was easily the best line as it features the broadest unit - and in a condo with floor to ceiling glass and full-length balconies that makes a huge difference. It doesn’t hurt that the layout was also quite nice too. The 03 is a narrower but also much deeper layout, for me they similar in utility so I’d choose an 04 given the option. 01? Interesting layout on the SE corner which gives a bit more variety to the view but also much, much smaller (if entirely private) balcony on the water. It also features far less floor-to-ceiling glass and conventional windows - for me the more home-like floorplan and larger quare footage is not enough to sway me from an 04. Lastly we saw an 05 which is the NE corner unit and this was an interesting take on the 01 - even smaller waterfront balcony but the back room had all glass and a lot of light with nice wraparound terrace. I could see living in one of these - probably my second choice after an 04 to be honest.

I’ve been over to the 50 Biscayne Condo several times in the last two weeks showing the building and units to various prospective clients and none have failed to be impressed by the incredibly high quality of the building. Walk into the stunning lobby and on through to the valet area - if you don’t think you are at the Bellagio you haven’t seen it before! The top notch execution does not end there by any means, 50 Biscayne’s pool deck is wonderful as well with a generous pool and plenty of private SoBe-style cabanas. The East side faces Bayfront Park and offers a wonderful view out over the water from unique cabriolet couches.

50 Biscayne did not skimp anywhere else either - a fully featured gym (including a REAL Stairmaster!) staffed by trained fitness experts, Pilates room with machines, a full spa, and two party rooms rounding out the major features.

Condos are offered in ready-to-move-in condition with a standard carpeting as the flooring. At this early point in time we are not seeing many units with upgrade hard flooring but in the coming months as owners have the opportunity I think we will see some really lovely upgraded condos on the market for rent & sale. All units feature stainless appliances, granite counters - all the goodies one would expect!

I recently attended a hardhat developer walk-through at Quantum on the Bay, right in Uptown/Performing Arts District and had a chance to see the H & I lines located in the South Tower.

Would you believe views like this in a high-end luxury building are just over $300/ft?! Not two years ago this would easily have commanded in the high $400-500s and in the future you can expect this value to return as the market recovers from its present slump.

Four new buildings are to closing, 50 Biscayne, The Loft Downtown 2, Quantum and 1800 Club. Other properties on the Biscayne Corridor are also just months or even weeks from closings - Opera Tower is a primary example.

What does this mean?

As a renter this is great news - the options in new buildings are expanding daily and prices are in your favor with the glut of inventory and desperate owners. Most owners are satisfied making back just one half of their monthly “nut”, if you are paying $3,500 a month you will be in a million dollar condo! If that isn’t great value I don’t know what is.

Older buildings are going to be hit hard as their rents will be forced to come down in order to compete with the newer, shinier properties coming to the Miami, FL area.

What about buying? Prices per foot are plummeting at many of the higher-end luxury buildings with $300-350/ft becoming commonplace - just two years ago that money would barely get your foot in the door at an entry level condo! For many of these properties I feel that the bottom has pretty much been reached as owners attempt to unload units below their preconstruction entry price in attempts to save partial deposits.