What’s the best kept secret in the Miami Condo inner circle? Here’s a hint: Rediscover the Miami River condo neighborhood. This area is recently undergoing a riverside renaissance that is not going unnoticed. New life is flowing into Miami River in regards to condo developments such as Latitude on the River, Ivy, Mint, and Edge. Also the River Yacht Club and whole shopping village/centers are popping up all along the 5.5 miles of this riverside oasis and attracting a lot of attention.
The up-and-coming neighborhood is home to the Brickell City Centre and Mary Brickell Village. It is also about 15 minutes from South Beach and 20 minutes from the Miami International Airport, which makes this Riverside area hard to beat in regards to all the amenities it offers.
Miami River Condos for Sale and Rent
Since the beginning of 2000 nearly 8,000 residential units have been added to the area as well as over 10 restaurants and 550 hotel rooms! In 2015, more recently, another nearly 3,300 units have been approved. As a result of cleaning up the riverside and beautifying this area the predictions for residents seeking to make their home, or second home, here in the Miami River neighborhood. To date over 13,315 condos have been recently rented in the River Miami neighborhood, so you better get a move on it!
Although there is much desire to live is the Miami Riverside area, there are many options to owning or renting your own condo space. KAR Properties opened sales for 350 condominiums at One River Point, and two 60-story towers at 24 SW 4th street with prices ranging from the mid $700,000 to more than $12 million.
One River’s Point, the area for one of these luxury condo’s, features a 35,000 square foot private club, waterfront restaurant, fitness center, and of course a poolside café with butler service for residents. Other luxurious amenities include an 85-foot-high waterfall from a four-story podium to a pool below.
Buying and Selling Miami River Condos
Nearly 1,000 are for sale at the moment and just short of 600 condos are up for rent! With the modern high rise condos, upscale lofts, office buildings and the riverfront promenades both to and from the marketplaces and villages along both sides of the Miami River add to make this place so desirable.
On average, a studio condo only stays on the market for 290 days before its gone though 1 and 3 bedroom condos go the fastest at only 155 days on the market! Thus, listing and buying in this area is an achievable yet fast paced system.
Studio condos are listed, on average, for $335,000 steadily increasing with each bedroom addition. A one bedroom is listed at about $416,000 while a two bedroom can be found at $712,000. This slowly escalates to the average price of a 4 bedroom condo being listed at $4,300,000 and so on.