West Avenue and North of Fifth – Miami Beaches ‘Hottest’ New Neighborhood?

Great Investment Value for investors on West Avenue and the North of Fifth Area in South Beach

South Beach is almost synonymous with Miami. The white-sand beaches, sizzling nightlife and swanky hotel chains is what Miami has long been famous for. It feels of recent like everybody in the world has turned its attention to Miami? But what happens when we see property values rise 50% or more in a neighborhood, but still see a city that is evolving commercially and still has a quickly growing permanent population, we have investors starting to ask: “If one neighborhood starts to feel saturated, where is the next hot area to go under development, where should I focus my investment dollar now?”

Apart from recent development in the South of Fifth area, where a handful of ultra-luxury condos (Glass, Marea, One Ocean, 300 Collins, Louver House, 321 Ocean, Continuum), there is much more going on in South Beach and you wont have to break the bank at $2,000 per sqft or more to get there. This article focuses on the area just north of Fifth and specifically West Avenue. A handful of new projects were announced to lift the West Avenue area to the next level in Miami living.

Enjoy the blog and feel free to call us, email us or chat to us live on line for more specific information and advice on this market.

The investment value of West Avenue and North of Fifth

The Wave

Developer Russell Galbut’ Crescent Heights is planning to create a mixed-use, four-building project between 5th and 7th and West and Alton.  The Wave is projected to have 300,000 Sq.Ft of residential space, including 321 apartments, and approximately 60,000 Sq.Ft of retail space.

Construction could begin next January (2016) on a 24-month timetable to completion.

Crescent Heights also got design approval for its plans to build a new 50,000-square foot project at 1901 Alton Road that will include a new 40,000-square foot Whole Foods Market.

The Monad Terraces

A company tied to New York City-based JDS Development Group paid a combined $41.89 million for 13 properties in Miami Beach between May and June.
Between May 20 and Wednesday, the JDS affiliate acquired 61,846 square feet, or 1.4 acres, along Monad Terrace in Miami Beach. Here are the properties, a combination of single-family homes and apartment buildings:
All of the properties, south of the Waverly South Beach condo tower, are zoned for multifamily development.
The investment value of West Avenue and North of Fifth

The Baptist Health Complex

The Baptist Health complex at 7th and Alton Road is approved by the Miami Beach Planning Board.  The care center will house services like urgent care, diagnostic, same-day gastrointestinal procedures like colonscopies, physical therapy and some primary care offices.  The planned 63,500 Sq.Ft building on 709 Alton Road will bring quality care to the Miami Beach community.

The investment value of West Avenue and North of Fifth

824 Alton Road

A development site on Miami Beach’s Alton Road sold for $5.4 million, or $300 per square foot, county records show. 824 Alton Road Partners bought the 18,000-square-foot lot on Alton Road between Eighth and Ninth streets. The Miami-based LLC lists David Smith as its manager and an address matching Crescent Heights. Smith has been connected to other LLCs with developer Russell Galbut.

1235 West Residences

1235 West Residences is a brand new complex of 5 luxury residences in the heart of the art deco district in South Beach. All residences will be full-floor residences with 3-bedrooms, 3.5-bathrooms and 2,510 Sq.Ft.

More information on 1235 West Residences

The investment value of West Avenue and North of Fifth

1414 West Beach Residences

1414 West Beach will be an exclusive 10-unit building offering 2 & 3-bedroom plus den, crafted by Charles Allem Designs.  With exceptional amenities and luxurious outdoor living spaces, 1414 West Beach residences offers private culture living in Miami Beach’s West Avenue neighborhood.

More information on 1414 West Beach 

Other Brand New Miami Beach Condos for Sale:

6080 Beach House
70 Studio and 1-Bedroom Hotel Condos
L’Atelier Residences
A Glass Oceanfront Condo with only 20 Residences
Louver House
12 Spacious boutique residences in South of Fifth
300 Collins
19 new boutique Condos in the heart of South of Fifth

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Stefania Cambarau

stefania@siddonsgroup.com | +1 305 965 1232

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FAQ

These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!

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