Miami Real Estate Learning Center

Miami is more than a tourist destination



This month, I will show you some super interesting facts of Miami that will prove to you we are not only a tourist destination. I will also show you some stats of the promising neighborhood of Downtown Miami. It seems sales are through the roof! As always, I'll give you a restaurant and events suggestion that you can't miss! Are you planning to buy in Miami? Scroll down to see the best deal now at the Yacht Club at Portofino.

Hope you enjoy this newsletter and I wish you all a Happy Valentine's Day!

THE OTHER SIDE OF MIAMI

Miami has always been known for being an incredible place to go for vacation or tourism. However, the latest stats reveal that it is an attractive place to study, live and work too.

Let's see some interesting and fun facts about Miami...

• Miami is #1 city in the U.S. with the more foreign-born home-ownership rate

• Miami Beach is ranked #10 on the Best Cities for Science/Tech/Math workers

• Miami is home to the second fastest growing economy among U.S. cities

• FIU in Miami is ranked the #2 public university in the state

• Miami ranks #2 in the US for international residents with bachelor's degree

• Miami increased its technology jobs by 21.5% from 2012 to 2017

• Miami's Fisher Island is America's most expensive zip code (33109)

• The Miami Metro Area competes with New York, San Francisco, and Los Angeles as a top "globalized city"

• Miami is the 4th-most walk-able city in the U.S.

• American Airlines Arena in Miami is ranked as the 18th most popular in the world by annual ticket volume

• Broward high schools rank #1 and #2 with the most Harvard, Princeton and MIT grads among Florida high schools

NEW LUXURY BOUTIQUE CONDO IN SOFI

Jose Isaac Peres, the Brazilian billionaire developer of Multiplan Real Estate Asset Management has revealed the plans for 312 Ocean Park, a luxury boutique 4-story condo in 304 and 312 Ocean Drive in South of Fifth.

The building will have 10 units, among them 2 duplex penthouses and 2 lanai-style homes. It will host one-of-a-kind amenities such as a private deck with pool and up to 20 parking spaces. The lot for the development cost $9.85 million purchased in December 2018.

The revealed plans are now waiting for the Miami Beach Historic Preservation Board approval, as it will be located in the Ocean Beach Historic District. You will be able to buy one of these exclusive units at the beginning of 2020.

DOWNTOWN SALES EVOLUTION

This month, I wanted to check how the sales were at the end of 2018 in Downtown Miami. We can definitely define the same pattern as in South Beach.

Sales in the buildings we studied in that neighborhood went up 24%, This means that Downtown is the neighborhood with the biggest growth compared to South Beach, Brickell and Sunny Isles. Condos like Marina Blue, Marquis or Paramount Bay had a growth in sales volume of +71%, +60%, and +58% respectively.

Now, looking at the prices, we noticed that the average price decreased by -3% in almost all of the condos studied. The price drop is directly correlated to the sales surge. For instance, condos with an increase in sales volume such as the 1800 Club which increased by 16%, had a decrease in their selling price, in this case of -5%.

Downtown proves again to buyers looking to invest that it is a thriving neighborhood.

FEBRUARY'S EVENT SUGGESTIONS

February's events are incredibly diverse this year. There is clearly something for everyone!

• On its 18th edition, the SOBE WINE AND FOOD Festival is back! For 5 days starting on February 20th, you will enjoy the best culinary dishes crafted by international world-class chefs, followed by late-night parties with incredible music experiences and lots of fun.

• Miami's international Boat Show is scheduled for February 14th -18th. Prepare yourself for the 4 biggest days in boating. For the 77th year, up to 100,000 boating enthusiast will gather to see the hugest boat exhibition in every Marina in the entire area. There will be a yacht show placed in Downtown Miami, next to the Adrienne Arsht Center, that will allow you to check the latest yacht, super-yachts and marine technology currently available. There are expected to be up to 1,400 boats on-land and in-water for the whole weekend!

• Snarky Puppy will be one of the performance you will enjoy if you assist to this year GoundUP Music Festival. On February 8-10, you could be part of this 3-days outdoor event in North Miami.

• Since 2001, Biscayne Bay in Downtown Miami has been reserved for the Art Wynwood annual event. This exhibition features 70 international galleries of contemporary art, and let us explore it for really low-priced tickets that start at $15.

• We know February is all about love, and we could also agree that the most important celebration of this month is Valentine's Day in the 14th. I personally suggest you go with your couple and enjoy of any of the wide lists of unparalleled restaurant you can find in Miami (If you have nothing in mind, see my restaurant suggestion, it will definitely be a pleasant surprise!).

"LE PIMENT" FRENCH BISTRO

Let me introduce you to my last amazing discovery, "Le Piment" French Bistro!

As you may know, I'm originally French, that's why I've always been kind of picky with the French local food's restaurants. However, this new eatery has definitely surprised me. Located in the heart of South of Fifth this restaurant is definitely a hidden gem! The 1,250 sqft local in 864 Commerce Street, serves affordable breakfast through dinner options.

Unlikely most of the French restaurant in Miami, Le Piment is designed to have a very relaxed, not fancy style. In simple words, they are a "friendly neighborhood bistro".

Le Piment covers every aspect that we are looking for when choosing a place to eat. An outstanding staff, an exceptional ambiance, and fresh and well-prepared food. I suggest you reserve a spot in the cute and cozy outdoor terrace. The food was amazing! My personal recommendation is the duck and shrimp for tapas followed by a side of truffle-fries.

I highly recommend it!

DEAL OF THE MONTH: YACHT CLUB AT PORTOFINO #2609

• Just reduced from $735,000 to $680,000

• 1,080 sqft

• 2 bed / 2 bath

• $629 /sqft

• High floor

• Ocean Views

• Spacious living room

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