Boom or Bust: Miami

Map: The area outlined in red is the Flamingo Park District South, which is the focus of this piece.

Orientation

This weekend I had a discussion with Josh Stein– a well known realtor specializing in high end South Beach lofts– and he mentioned that the area from 5th street to 11th in between Alton Road and Euclid Avenue was the frontier of South Beach. I thought “frontier of South Beach” sounds kind of paradoxical, but after giving the area a closer look, I’ve come to realize that Josh’s assessment is on the money.

Map: Flamingo Park District in its entirety is shown in Pink

The area in question is designated as the Flamingo Park Historic District by the Miami Design Preservation League. Josh mentioned the southern part of this district. I will, therefore, focus on the southern half of the Flamingo Park District from 5th street to 11th street (south to north) and from Alton to Pennsylvania Ave (west to east).

Images: Foliage in the District

First off, it goes without saying that the Flamingo Park District is surrounded by a hubbub of activity on almost every side. The raucous Washington Avenue runs along the east side of the District. The busy Alton Road runs along the west side. The bourgeoning SoFi area sizzles to the south. Interestingly, the area has no major residential or commercial development anchors, but that will soon change with the shops at 5th and Alton, which is currently planned but not yet seeing any construction activity. The anchor will hold down the area’s south west corner. Other developments that are sure to influence the district are Vitri, also to the south west, and the Mondrian to the north west.

Image: The Terrace Loft

Activity

The distinctly Floridian neighborhood is composed of a melange of sharply designed historic buildings creating a rich tapestry of pastel colors all set amid lush green tropical foliage. It is pedestrian friendly and shaded in most avenues. The Flamingo Park District is vestige of Miami Beach’s past and most genuine island lifestyle. The architecture gives one a sense of the city’s history. While South Beach is synonymous with noise, traffic, and partying, the Flamingo Park District affords its residents a tropical retreat.

Image: 1016 Meridian

The area maintains itself as a historic and relatively untapped, which would explain Josh Stein’s assessment, but there is quite a bit of activity changing the face of this funky and colorful enclave:

• Casa 40 (1061 Michigan Avenue) is a newly renovated loft project with prices starting at 595k

Image: Villa Lucca under construction

• Down the Road from Casa 40 is Villa Lucca, which is a combination restoration and new construction development on Michigan Avenue involving four properties (1045, 1037, 1025, 1027) and 15 residences. The new construction is called the Villa Lucca Condominium and will feature roof top terraces with jacuzzis.
• The Terrace is a new loft project also on Michigan Avenue. It doesn’t appear to have a website but features high ceilings, covered parking, and rooftop terraces. Sales are being handled by Ingrid Lopez at Miami Elite Brokers.
• The 762 Lenox Avenue historic building is for sale.

Image: Casa 40

• 1041 8th Street is also for sale and being handled by Susan Gale/Majestic Properties.
• 734 Michigan Avenue represents the most luxurious and singularly designed loft project in the District. Sales are being handled by Josh Stein and BoB will provide you with a look inside soon.
• The building to the north of 734 Michigan (740, 742, 744) is boarded up and ripe for redevelopment.
• Nine 45 Jefferson is another new loft project with 7 high end 2/2.5 town homes. The project is designed by Kobi Karp.

Image: 734 Michigan Ave

• 960 Jefferson Avenue is for Sale
• 928 Jefferson Avenue is newly renovated and units are for sale including 6 studios and 1 townhouse.
• 751 Meridian is newly renovated and has condos up for sale starting at $189,900
• 729 Meridian (Helen Rose) is newly renovated and offering state of the art designer finishes for its one bedroom units.
• Also on Meridian Ave., Villa Veneto offers 8 “elegantly restored” 1 and 2 bedroom (2 story town homes) units starting at $179,700
• Porto Condos on 9th and Meridian will be newly renovated and condos will start from the high $200’s. Sales are being handled by Ocean International Realty.
• The Ambassador, also on Meridian, is being restored and will offer 1/1 and 2/2 units. It will feature Italian kitchens, stainless steel appliances, bamboo flooring, high impact windows and more. Sales are being handled by International Living Realty.

Image: A shady Meridian Avenue

• 1017 Meridian is a brand new strikingly-designed loft project on Meridian Avenue. According to Zillow, a unit there was sold recently for $542k
• The 1120 Meridian building (14 units) is for sale.
• Greta Condominium is a newly restored condo on Euclid starting from the $180’s.
• The historic 935 Euclid building was recently restored and has some units up for sale.
• The Citadel Group still has one unit left in the Moulin Rouge project, although their site claims all have been sold. they should change the sign.
• Blue Place is another recently restored development in the area. Prices start at the 300’s. More information can be found on Miamirealestate.com.

Image: 1051 Meridian (the historic Flamingo Plaza building)