Beachfront Bonanza — Miami Property Market
Oceana Bal Harbour and Turnberry Ocean Club Residences are two key residential projects along Miami beach that have caught the eye of investors.
Home to year-round sunshine, clear blue waters, and plenty of beaches, Miami is the go-to destination for luxury waterfront property. From the beaches of Key Biscayne to the city views over Biscayne Bay, there are endless options available. Nowhere does luxury waterfront homes quite like Miami.
The Miami residential property market has been booming since last year as people from across the US traded in their cramped and cold living conditions up north for better weather and favourable taxes in the Sunshine State. In fact, according to South Florida Business Journal, sales prices and volume have grown by double digits since a year ago.
This wave of out-of-town buyers is boosting the economy and now many large companies, especially around the tech and banking industries, are choosing to set up offices in Miami. According to the Florida Chamber of Commerce, another 23 million people are expected to move to the state by 2030. In South Florida alone, the population is set to rise by more than 12 per cent in each of the next three decades, according to the South Florida Regional Planning Council.
With that in mind, you may want to start searching for a new property there today. Condominiums make up a lot of the waterfront properties in Miami and if you’re looking for something on the beach, they’re most likely your best option. Where you decide to stay in Miami Beach depends on the type of lifestyle you live. The south provides more of a party atmosphere, while the north offers a more laid-back luxury.
Here are two luxury condominiums that offer some of the best waterfront living experiences.
Turnberry Ocean Club Residences — Sunny Isles
Situated on “Millionaire’s Row” in Sunny Isles is the recently completed Turnberry Ocean Club Residences. These ultra-luxury residences offer ocean-front and bay views, thanks to their flow-through design. With expansive balconies, the large three-to-six-bedroom apartments offer the perfect opportunity to enjoy waterfront living from high in the sky.
Residents will also have access to their own private club from levels 30 to 32 at a whopping 300 feet above the ground. Named The Sky Club, it includes a lounge and entertainment space, two cantilevered pools, an indoor/outdoor oceanfront fitness centre with a yoga studio, and a revitalisation spa. For many residences that would be above and beyond the level expected. However, Turnberry Ocean Club Residences can offer even more at ground level.
Thanks to its location by the beach, there are plenty of cabanas that are perfect for relaxing in after a dip in the ocean. There’s also a lobby lounge and café, three restaurants, a ground-floor infinity pool, and duplex poolside cabanas, not to mention a kids club for the little ones.
There are also many off-site perks to living here. Residents receive priority access to Fontainebleau Aviation Facility and the Turnberry Marina. They will also receive a one-year complimentary social membership to the elite Turnberry Isle Resort & Country Club. Here, golfers will have access to two Raymond Floyd-designed championship golf courses that are perfect for a game all year round. Residents will also get a membership to South Florida’s first water park, Tidal Cove, which features the nation’s first triple-flow rider.
“As the president of residential for Jeffrey Soffer’s Fontainebleu Development company, I’m in continuous communication with the 1 per cent international buyer pool. People are increasingly interested in waterfront living in Miami, and not just single-family homes. Waterfront investments mean a ton of maintenance and serious insurance policies. So, while the pandemic has shown the importance of space and privacy through the increase of sales in the single-family home market (Miami-Dade sales jumped 16.6 per cent year-over-year according to the Miami Association of Realtors), a mansion in the sky with a resort-style lifestyle sans the hassle of maintenance may be the better option,” said Jim Cohen, President of Residential at Fontainebleau Development.
Prices from the upper US$3 million.
Oceana Bal Harbour — Bal Harbour
The upmarket area in the northern part of Miami Beach is home to many amenities, including world-class shopping centres, top restaurants, luxury hotels, and of course, beautiful beaches. Since it’s on an island, you can enjoy sunrises and sunsets with waterfront backdrops. It’s a beautiful place to be. Much like its Sunny Isles neighbour to the north, it also has several notable luxury condominiums.
One of my favourites is the luxurious and art-centric Oceana Bal Harbour. The 28-storey glass building offers its residents a five-star hotel lifestyle that starts the moment they arrive at the building. Residents have valet parking, 24-hour concierge service, and underground parking to keep their vehicles in tip-top shape. Other amenities include a gourmet residents-only restaurant, Ballerina, that’s run by Toscana Divino, as well as a WTS-operated world-class spa, a relaxation pool, an Olympic-style lap pool, a cinema, and a grand salon with a chef’s kitchen and bar, to name a few.
Want to be outside but need the occasional break from the heat? The private climate-controlled cabanas here have got you covered. Literally.
Everyone might have missed Art Basel last year, but residents at Oceana Bal Harbour can enjoy beautiful art all year round. A collection of art at the building is co-owned by the residents, and a few of the most notable pieces are two large Jeff Koons sculptures Pluto and Proserpina and Seated Ballerina. And that’s just outside; inside the Pierro Lissoni-designed lobby are 10 pieces of high-end modern art by other notable artists worldwide, including An Te Liu and Taryn Simon.
The residences have breathtaking views of the Atlantic Ocean and Intracoastal water thanks to the floor-to-ceiling glass windows and large balconies. Inside, expect lots of glass and an open-plan layout that flows through to the kitchens which are equipped with Gaggenau appliances and luxurious materials throughout.
The condominium’s icing on the cake, however, is its four penthouses and four duplex Upper-Penthouses on the top three floors. Each comes with private lifts that open directly into the residences and huge oversized balconies. The duplex Upper-Penthouses also come with their own private pools. Talk about living large!
Prices start from US$3 million.
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