The luxury real estate market in Miami Beach and up north to Sunny Isles is booming and shows no signs of slowing down. According to statistics from ONE Sotheby’s International Realty in Miami, the supply in Miami Beach for luxury apartments, defined as listings of $1 million and above, is down over 80% year over year.
“Demand is high, and supply is low,” says Anna Sherrill, a top selling real estate agent with the company. “The market is on fire.”
Sherrill, for one, had $95 million in sales in 2020. By the end of March this year, she had already closed $68 million and had an additional $25 million in pending contracts.
Buyers are particularly clamoring for homes in upscale oceanfront condominiums that offer the amenities of a high-end resort, and then some. “These are really exclusive buildings with incredible settings, service, and views,” says Sherrill.
From a two-story penthouse inspired by an Italian palazzo in a new nearly $2 billion Sunny Isles development to a corner unit in the tallest residential tower in Florida, here are seven oceanfront residences currently for sale.
Arte Surfside, Unit 801
Part of Arte, a 16-residence building in Surfside, this three-bedroom property has floor-to-ceiling windows plus two terraces that offer spectacular ocean views. The expansive living and dining area are ideal for entertaining, and the light and airy aesthetic includes finishes such as white oak flooring and bronze fittings. All the bedrooms are large, and the primary bedroom has a Roman travertine bath with a sculptural soaking tub. Each Arte residence is on its own floor. Amenities include a rooftop tennis court, beachside swimming pool and meditation pond with cabanas, 75-foot-long indoor lap pool, gym, yoga studio, spa, lounge, and children’s playroom. Each residence also comes with a temperature-controlled parking spot.
Price: $10.5 million
Bed/Baths: 3 bedrooms, 3.5 bathrooms
Square Footage: 3,127 plus 750 of terraces