The New Flex: Next Era of Miami Condos Offer Flexible Luxury
Some of South Florida’s most highly anticipated luxury real estate developments are welcoming a new era of home ownership that focuses on flexibility. With remote work as the new normal and a younger generation of digital nomads spending more and more time away from home, demand for spaces that offer a full slate of amenities and short-term rental optionality is skyrocketing.
“This is a new product for the Miami market and there has been a desperate need for short term rental solutions,” says Jaclyn Bild of Douglas Elliman. “Given the void there has been in this space, these buildings are selling out at record speeds.”
AirDNA Industry Outlook shows short term rentals had a record year, with growth even outpacing the hot real estate sales market across the country - and is forecast to strengthen even more in 2022. Average earnings for short term rentals grew to their highest ever in 2021, 35% higher than at the start of the pandemic, while revenue for the average listing grew 26%.
“Buyers are looking for residences that offer ownership on their terms, with the ability to home share or rent out their unit to monetize their investment while they are traveling,” said Angel Nicolas, with The Nicolas Group Compass. “On the tenant side, we’ve noticed a trend in travelers wanting to stay in a home or condo rather than a hotel – it’s a more private alternative which is what people want these days.”
From buildings with built-in Airbnb programs to fully furnished, move-in ready residences, developers are tapping into the trend and delivering properties across South Florida designed to be shared.
“These new developments are catering to both end-users and investors looking to cash in on the blazing hot market,” says Minette Schwartz with The Schwartz Team at Compass. They’re a great opportunity for young second-home buyers who don’t want to bear the full cost of a second home, but want the flexibility to live and work in Miami at their leisure.”
The Standard Residences
From the creators of the world-renowned Standard Hotels and pioneering developer Carlos Rosso, comes the first ever Standard Residences—Midtown Miami’s first true pied-a-terre building. Allowing for rentals for as few as 30 days, the residences offer the opportunity to live The Standard’s distinctive
lifestyle. The 12-story building by Arquitectonica will rise in the heart of Midtown and feature 228 residences ranging from studios to two bedrooms, with interiors by Urban Robot. Thoughtfully designed social spaces and amenities will span 34,000 square feet including a rooftop with a sunset pool and signature restaurant, a state-of-the-art sweat room and fitness center, an infrared sauna, a karaoke bar, co-working spaces, an indoor pickleball court, yoga and stretch studios, and a pet spa.
For more information visti: thestandardmiamiresidences.com
The flagship property’s turn-key, fully furnished residences are purposely designed, built and licensed to be shared. Being built by the Newgard Development, behind the highly successful Natiivo that sold out even before construction began, Lofty was created for buyers seeking a modern way to own, live and monetize luxury real estate. Sitting on the Miami River, the Brickell location will offer studio, one- and two-bedroom units with interiors by NY-based INC. With 40,000 square feet of shared spaces, amenities include a private marina, invitation-only speakeasy, waterfront restaurant, resort pool deck plus separate rooftop with infinity edge pool, co-working spaces, cigar lounge, game areas, fitness center with yoga studio, sauna/steam rooms and cold plunge, owners lounge & social club, car service, juice bar, personalized app and on-site hospitality management.
For more information visti: loftybrickell.com
The Crosby Miami Worldcenter
A 31-story tower set within Downtown Miami’s $4 billion, 27-acre Miami Worldcenter, the mixed-use development by Related Group and Merrimac Ventures will deliver 450 turn-key residences, free of rental restrictions. Floorplans are designed to fit a range of lifestyles, with turn-key studio, one- and two-bedroom residences curated by AvroKO. Owners have access to over 22,000 square feet of amenity spaces spanning multiple floors. Amenities include saunas, plunge pools, a dedicated space for yoga and mat workouts, a spacious coworking center, a clubroom featuring billiards, a theater and a private dining area. Museum-quality art adorns nearly every space, indoor and out.
For more information visti: thecrosbymiami.com
Nearly sold out before breaking ground, District 225 in downtown Miami offers fully furnished, flexible residences with a first of its kind, built-in Airbnb program for monetized home-sharing. On site staff will seamlessly handle all aspects of the hosting process, from listing to check-in and cleaning. The units can be rented out for as few or as many days as the owner wants. Building amenities include a rooftop pool, museum-quality artwork, an indoor basketball court, professional-grade racquetball court, 28-foot-tall rock-climbing wall, state-of-the-art training center and yoga/spinning studio, dedicated coworking space and resident’s lounge with cinema and billiards table.
For more information visti: district225miami.com