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Rich New Yorkers Talking About How Cheap It Is To Live in Miami Will Make Your Cry

Categories: Unreal Estate

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Photo via Roberto Bowyer's Flickr | MNT Pool

Everyone knows that Miami's current condo boom is being fueled by South American buyers, but many of the American citizens who are snapping up properties here tend to be New Yorkers.

Well, the New York Times, whose coverage of Miami tends to be notoriously tone deaf when read by actual Miamians, is here to remind us of how happy New Yorkers are to help us drive our real estate prices up to Manhattan-like reaches.


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Mega Skyscraper, World Trade Center, Proposed for Downtown Miami

Categories: Unreal Estate

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via The Next Miami
A 935-foot skyscraper has been proposed for downtown Miami. It's dubbed "The World Trade Center of the Americas" (which isn't a sensitive and awkward choice of names at all), though there will more than trade going on there. The plan calls for a mixed bag of residential units, hotel rooms, and office space.

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Miami Is Running Out of Retail Space

Categories: Unreal Estate

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Thanks mostly to tourists with fat wallets, the retail sector in Miami has reached an all-time high, and retailers are scrambling to get a piece of the action.

Retail space vacancy rates have hit 3.8 percent, and the average rent in the third quarter of 2014 was $45.18 per square foot. That's up a whopping $4.83 per square foot and $7.43, year over year.

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Someone Is Buying Matt Damon's North Bay Road Mansion, While Shakira Tries to Sell Hers

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Matt Damon's estate
If you happen to have tens of millions of dollars and are on the look out for a new home that was once occupied by a celebrity, we have some good news and some bad news.

The bad news first, just to get it out of the way: After a few years of trying to sell it, Matt Damon may have finally found a buyer for his home on North Bay Road on Miami Beach. So that's no longer an option. The good news? Just a little down the street, Shakira is quietly trying to sell her North Bay Road home.

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Avra Jain: Modern-Day Julia Tuttle

Categories: Unreal Estate

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Photo by Stian Roenning
Unlike her male counterparts, Jain is approaching the revitalization of the city in a completely different way.
In this week's Miami New Times, we profile 30 of the most interesting characters in town, with portraits of each from photographer Stian Roenning. See the entire Miami New Times People Issue here.

Just a few yards from the buzz of Biscayne Boulevard, Avra Jain sits by the pool at the Vagabond Hotel, the iconic Miami Modern structure that until a couple of years ago seemed doomed to linger in a state of blight. Today, the crackling paint and overgrown vegetation are gone, replaced by sleek chaise longues and playful water features.

Jain, whose fit, 53-year-old frame is matched by a cheerful and energetic demeanor, is largely responsible for the Vagabond's transformation. She's a former engineer and Wall Street trader who began fixing up apartments around downtown and SoHo in New York as a hobby. Eventually, she left her job when the opportunity to do a loft conversion in Tribeca came calling. During this time, she would bounce back and forth between New York and the '80s and '90s bohemian scene in South Beach. She moved here permanently in 1998 to be with her partner. But although love might have brought her here, Miami and its real estate potential have kept her interested.

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Tony Cho: Designing Miami

Categories: Unreal Estate

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Photo by Stian Roenning
Tony Cho has helped turn industrial and blue-collar areas into hip epicenters.
In this week's Miami New Times, we profile 30 of the most interesting characters in town, with portraits of each from photographer Stian Roenning. See the entire Miami New Times People Issue here.

The bright pink and green "For Sale" signs are everywhere in Wynwood, the Upper Eastside, Little Haiti, Edgewater, and downtown. And the name at the bottom of the sign is always the same: Tony Cho.

As a new real-estate boom hits the Magic City, the 36-year-old has clearly become a go-to real-estate tycoon in Miami's most happening neighborhoods. But getting there has meant weathering a historic recession and navigating a rapidly changing market.

"It's been a challenge," Cho says.

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Mid-Beach's New Name Is "Wunder Mile," and That's So Fetch

Categories: Unreal Estate

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"Once known for its flair of a by-gone era, Mid-Beach on Miami Beach, now coined the 'Wunder Mile,' has been getting a major face-lift," reads a press release.

Our first thought was obviously, "Wait, since when has that area ever been known as the Wunder Mile?" A quick Google search confirmed that, in fact, no one in recorded history has ever called it "Wunder Mile" before this press release was sent out.

The whole thing reeks of Karen trying to make "fetch" happen in Mean Girls, but is part of an odd trend over the past few years of Miami developers and business owners coming up with dumb names for areas that already have perfectly fine names.

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Golden Beach Home Lists for $36 Million, Even Though It Hasn't Been Built Yet

Categories: Unreal Estate

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A sprawling 23,000-square-foot modernist mansion has hit the market in the exclusive enclave of Golden Beach for an eye popping $36 million. The catch: the beachfront home doesn't even exist yet.

Developer Jacob Abramson doesn't actual even plan to break ground on the eight-bedroom, 12-bathroom manse until the second quarter of 2015.

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Downtown Miami's Population Nearly Doubled Since 2000

Categories: Unreal Estate

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Parts of downtown Miami have become almost unrecognizable since 2000. Few urban cores have remade themselves in the new millennium the way downtown Miami has, yet the area continues to get criticism for being a place that still isn't quite suited for living full-time.

Well, the Downtown Development Agency has released a new population and demographics report claiming the population of downtown has almost doubled in the past 14 years, with 99.6 percent more people living in the area now than in 2000.

See also: Miami Rents Are Wildly Unaffordable for Average Residents

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Pharrell Williams Can't Sell His Brickell Penthouse

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MLS Listing Photo
Pharrell Williams' life is better than yours. His music career is back and better than ever. His style is fawned over. He's a judge on one of the biggest shows on television at the moment. But not everything is going well for ol' Pharrell. He can't sell his Brickell penthouse.

Such is the cruel and sometimes unpredictable world of Miami real estate.

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