When it comes to Miami Beach luxury residences, location and size have been two of the most critical attributes that attract international investors and wealthy buyers to the latest projects. Miami Beach developers have now brought on a wave of new projects that redefine the number of stories, views and privacy afforded for luxury living. The rising popularity of small buildings, each with just a handful of units, many without neighbors, have taken the Miami Beach skyline by storm. While in some areas, developers are forced to create more moderately sized, unique buildings (like the Art Deco area of Miami Beach) due to limitations for projects that are as low as 75 feet in certain areas, many boutique projects have risen based on demand from elite buyers for privacy and exclusivity. In many cases, the boutique luxury units are priced as high as a penthouse or a mansion or comparable to the latest luxury high-rises when it comes to amenities and services.
Considering the price of oceanfront penthouse condos and signature high-rise residences in highly sought areas in South Florida, many developers have taken a new approach to the luxury standard where ultra- trendy turnkey residences are offered in boutique buildings. Offering more privacy and exclusiveness, the boutique luxury living trend has received newsworthy attention in recent years. Some of the most in-demand and record breaking sales for residences in Miami Beach have been for boutique residences on the oceanfront. Boutique luxury sized projects like Norman Foster’s Faena House (with its $60 Million record-breaking sale), Ian Schrager’s Edition, Marea, Louver House, Glass and One Ocean are breaking sales records and are said to be competing with starchitects, art installations, and over the top amenities.
Privacy afforded in boutique condos has been one of main appeal for high-profile, celebrity and ultra-wealthy buyers who though impressed with oceanfront and city views, the level of finishes and intimate size are accustomed to a lifestyle that requires the utmost security and exclusivity. In boutique buildings on Miami Beach its not unusual to have one-unit per floor or even outdoor living spaces. For elite buyers, turn-key living is offered with custom kitchen and baths, exclusive amenities which can include personalized services, outdoor terraces, impeccably designed interiors, and much more. The Miami Real Estate market is welcoming the new trend and buyers are drawn to new wave of boutique luxury living as developers continue to find ways to evolve and appeal to the varying tastes and needs of buyers at the higher end of the market.