Miami tops the United States when it comes to the ultra-luxury condominium market. Apartments include items like personal plunge pools on unit balconies, private elevators for residents or their cars, leading in complete privacy to a garage set discreetly inside the condo unit and private humidors for your vintage cigar collection.
This is Not Your Parents Condo
The gratuitous displays of wealth only increase with new developments. In Porsche’s Design Tower, residents have the option of placing their car on an elevator, so that it can be parked in the resident’s ‘garage’ in the sky.
“Perhaps the most spectacular,” according to Christopher Zoller, incoming 2017 chairman of the board-elect for the MIAMI Association of Realtors and a broker with EWM Realty International, “is the infinity pool at Turnberry Ocean Club, located in Sunny Isles Beach. “Because our shore faces east, by 12:00 or 1:00 the sun is heading behind the beach and the bathers. The infinity pool, located on the 30th floor provides an oasis with an all-day view of the ocean and 360-degree sunshine,” so integral to the optics of Miami.
Miami’s appeal as a top destination city for the jet-set crowd is amplifying as the world’s wealthiest invest their money and time here. As a result, the city’s luxury real estate landscape has escalated to ultra-luxury levels,” says Hector Vargas, president, South Florida High-Rise for FirstService Residential. “For residents, these amenities mean having it all right at their fingertips—whether it’s available within their own property, or minutes away by walk or ready transportation. These are properties that have in-house spas and salons, health and fitness specialists, grocery delivery and on-site chefs, pool-side cabana service and more. It’s almost an insular lifestyle that feels more like a retreat or a boutique resort where first-class service management and amenity planning is really a marriage of the residential and hospitality sectors.”
A New Take on Retirement Communities
Perhaps a more notable trend in both Broward and Palm Beach counties is the turnover of 55+ and other planned communities from the WWII generation to their children, the Baby Boomers. With the demographic changes, communities are seeing not only new life, but a retrofitting of their amenities. In an article published in March 2013, The New York Times notes that this trend was gaining speed.
On Florida’s Left Coast
On the Gulf Coast, the hottest market right now is in St. Petersburg. Realtor Kathryn Krayer Zimring reports the two hottest buildings going up in downtown St. Petersburg are The ONE and Bliss. The real amenity package is St. Petersburg itself which offers walkable access in its downtown to arts, parks, museums and restaurants. We’re seeing a lot of people moving here from Tampa itself, both homeowners and condo owners,” she said.