The Best Miami Condos for Sale | Are These Miami Luxury Condos Really The Best in Class?
Miami Condo Investments: We Compare The Best Miami Luxury Condos on Floor plans, Features and Price Levels
Pictured here: Arte in Surfside
The David Siddons Group has been analyzing the Miami condo market for a very long time and we always try to answer our readers’ and buyers’ most pressing questions. One very F.A.Q is: “What are the Best Miami Condos for Sale?” Although the answer to this question is very subjective we want to educate our readers on what makes a condo truly luxurious and what makes a condo to keep its value over time.
We have been creating a series of vlogs and blogs on “The Best Condos in Miami”, in which we feature several of Miami’s most desired and luxurious condos and where we try to highlight its selling points, its pros and its cons and how it compares to other Miami condos in terms of price per SF. Please be advised these are not your typical blogs on how nice the pool is or how unique the gym is. These are blogs written with buyers in mind that want to protect their assets and that are looking for true investment advise.
There are definitely more superb Miami luxury condos for sale which we will be happy to advice you on, but for now please find below our overview of the best Miami luxury condos for sale.
Please find below the list of Some of Best Miami Condos for Sale and the Reasons Why
One Thousand Museum in Downtown Miami
We love the finishes, the architecture and the large floor plans with a great flow. The finishes are without a doubt one of the best developer finishes we have seen. The building has really been created with an eye for detail even comparing it to other ultra-luxury Miami condos. No need to retrofit better doors, appliances or kitchens. Whatever unit you pick however will need upgrades to lighting, wall units, wall paper and window treatments. One Thousand Museum only offers 84 residences, which are full-floor units or half-floor units. Floor plans at One Thousand Museum are large and truly functional as a family home, all units are 4 bedroom units or bigger. 1000 Museum received 5 stars from Forbes Travel Guide for its services and lifestyle and One Thousand Museum offers a helipad. So if you own a helicopter or frequently use one, this is the Miami luxury condo for you.
Compared to other luxury condos this building scores lower on location and walkability. The area is simply not as developed as the areas in which other luxury condos are located. The views received a lower score as well, which is obviously very subjective. One Thousand Museum provides for bay views, but please know that the very high floors at 1000 Museum still provide for some views over the ocean. For those that do not necessarily need ocean views or care less about the exact location this condo offers very large floor plans, a homely feeling, lots of light and a helipad at an average of just $1,300 per SF!!!
Palazzo della Luna on Fisher Island
We hold this condo is very high regard as well as the private island it is located on. Definitely one of the best Miami condos for sale as it ranks extremely high on privacy, exclusivity, finishes, amenities and its large floor plans. Palazzo della Luna offers very large floor plans, which can replace a single family home. From 3 bedroom floor plans to 7 bedroom floor plans, Palazzo della Luna caters to large families and does not feel like your average condo. The floor plans offer great flow and lots of light. Some of the floor plans offer extremely large terraces as well. Fisher Island and Palazzo della Luna are very walkable, as they are located on a small and private island. You barely see any cars driving around as most residents use golf carts as the preferred way to get around.
The finishes are without a doubt one of the best developer finishes we have seen. Palazzo del Sol was already mind-blowing, but with Palazzo della Luna the developers brought finishes to the next level. Palazzo della Luna does not just offer concierge-style services, it provides customized attention and services. Regarding exclusivity it cannot get more exclusive than this condo.
The island is one of the most exclusive islands in the USA (the wealthiest zip code in the US) and this condo caters to the lifestyle of those who want a private lifestyle.
Palazzo della Luna sells on average for $2,517 per SF, which means it belongs to some of the pricier condos in all of Miami. As mentioned before the units come completely finished and are move-in ready so there are no hidden costs to finish the unit any further, which means no more budget to be allocated to floors, closets, lighting etc.
Comparing the Average Sales Prices per SF
The Ritz Carlton Residences in Miami Beach
The Ritz Carlton Residences on Miami Beach offer a true hybrid type of product, which is ideal for those who cannot decide between a home or a condo. The average unit offers 3,500 SF, which is very large for a condo unit. There is one elevator for every 5 residences, which provides for a great level of privacy. This is a very horizontal building so many units look over the water as if they were single-family homes. The condo only offers 110 residences, but provides for 60 floor plans meaning only few floor plans are identical and each unit is quite unique.
Needless to say this condo is desired because of the Ritz Carlton name that provides its signature services. This condo does not offer any hotel units, which also ads to the privacy. This condo is not located on the beach (water views are from the lake and higher floor units might see a glimpse of the ocean), but in a more quiet residential area and finishes are truly high-end. Finally the building only offers 4 one-bedroom units and is mostly used as a primary, secondary or third home and is less investor driven than many other Miami Beach condos.
At $1,250 per SF the Ritz Carlton Residences in Miami Beach are delivered fully finished and furniture ready. The Ritz provides for one of the lowest sales prices per SF of all Miami Beach condos and all Miami luxury condos.
Mr C Residences in Coconut Grove
The Mr C Residences are trying to distinguish themselves from the rest of the luxury condos with impeccable butler-style service. Something we can only judge once the tower has been delivered. Residences will be delivered finished, but won’t offer built-out closets or advanced lighting, some of the features often seen in finished units.
The buyer for the Mr C Residences is the buyer looking for a boutique, turn key experience with the highest levels of service (Equal to the butler service of a 6 star hotel) and access to the best lifestyle experience possible in Coconut Grove. This is a pampered experience for an ultra luxury buyer who will either use this property as a primary residence or use one of the smaller residences as a pied-a-terre.
The best lines in the building are the 01 and the 02 lines, which are bay-facing corner residences offering respectively 2,655 SF and 2,623 SF (from the 5th floor and up). As always the quality of the building depends on the floor plan you choose. The condo is selling only a select number of 3 or 4 bedroom residences. These larger units are surely going to attract the most discerning buyer, but with few available options buyers will need to act fast. This condo does offer 1 bedroom units, something not often seen in the brand new luxury condos in Coconut Grove. The 1 and 2 bedrooms average at $1,200 per SF while the 3 and 4 bedrooms average at approximately $1,800 per SF.
One of the key selling points of Arte is that it is ultra boutique with only 16 units located right on the sand of Miami’s up and coming Surfside. Arte is selling half and full floor residences ranging in sizes of approximately 3,150 SF under air up to 7,550 SF under air. Expansive balconies will add to the large living spaces. This luxury condo is all wrapped in glass ensuring spectacular views over the beach and the waters of the ocean. There are south east and north east facing units and all units have water views. One of the other great features we found is the seamless connection between inside and outside areas. The system is very visually appealing without the need to step over anything while still serving its purpose of stopping water from coming in. Hard to copy? I would say not really, but nonetheless not something we often see in Miami and therefore unique.
One of the other key selling points is that this is a very service-oriented condo with 9 full-time staff members at Arte. As Miami Beach is attracting many buyers from the northeast this condo is really designed with the New Yorker in mind; from the gridded window systems that create a very secure and private feature to the travertine ceilings, walls and soaking tub ensuring a clean palette. At $2,500 per SF this is definitely one of Miami’s most exclusive condos that cater to those that prefer very large residences in a boutique condo right on the sand.
The Residences by Armani in Sunny Isles Beach
The Finishes at Armani are exactly what you would expect at a Miami Luxury condo of this caliber. Think of Subzero and Wolf Appliances, high grade finishes, marble etc etc. These finishes are very important, but we have to admit that most of the luxury condos in Miami offer the same (high) level of finishes. Is it also very important to look at the floor plans, as floor plans can make or break a condo. The livability of the space is super important. A condo is only as good as its floor plan. For a condo starting at $1,000 per SF with an average of about $1,100/$1,200 per SF the value of the Residences by Armani/Casa is really good. Considering the floor plans that offer a great flow, the oceanfront location with the superb and mostly unobstructed views and the high-quality finishes we are talking about a great value/price ratio. It is hard to beat $1,000 per SF for a brand new and oceanfront condo on the beaches. So for the price the Armani Residences in Miami certainly provide you with great value, whether this is the best condo in Sunny Isles depends on your own personal taste.
Monad Terrace in Miami Beach
Monad Terrace is located on the west side of Miami Beach (less touristic than being right on the sand) overlooking the Bay and the Miami skyline. This condo is being developed and designed by a top team and its architecture is one-in-a kind. If you are looking for very high levels of finishes, equal to New York’s most luxurious condos then this is a save bet. If you are relocating and are looking for a sizable unit on the water or with water views other than ocean views than this might be a good pick for you. Finally, at $1,430 per SF (average asking price per SF without the penthouses) this condo is one of Miami’s most affordable new luxury condos. Furthermore these units come fully finished, so they are ready to move in without any additional costs (besides the personal touch you would like to add to your unit).
Monad Terrace offers 59 residences, which are all very different starting at $1.3M for a 2 bedroom with east exposure and 1,453 SF under air. (The only floor plan in the building with purely east views). Then there is a larger 2 bedroom plus den with 2,282 SF under air listed at $2,350,000. This is $1,030 per SF. While the entrance level starts around $1,000 per SF, the blended average for current units for sale is $1,430 per SF (Average asking price per SF not the sales price). Penthouses are listed on average for $2,330 per SF. For units with water views expect to pay more like $1,400 per SF and up.
The St Regis in Bal Harbour
St Regis is ideally located in Bal Harbour. Bal Harbour is just north of Miami Beach, which means you are in the middle of South Beach within 5 to 10 minutes without experiencing the crowded beaches or bikini-clad tourists on your doorstep. Furthermore, the St Regis is located just across the street from one of the US’ most desired and luxurious shopping malls; the Bal Harbour Shops. Besides high-end fashion this open-air mall also offers trendy restaurants and bars.
The condo offers 270 units over 3 towers and 26 floors. This is not just a condo with a fancy name tag. The towers are known for its solid construction and those who buy here know they are buying quality and unique features such as private elevators, large floor plans, privacy and the best service levels. The St Regis hotel tower even received a Forbes accreditation.
Bal Harbour prices vary between $1,300 and $2,200 per SF while St Regis sells for an average price of $1,635 per SF. The St Regis Bal Harbour condo is listed as one of the 10 most exclusive condos in Miami in our 2020 Miami Real Estate Report while it also appears in our top 10 of best values or condos with the best opportunity for good deals. These are high-end condo towers that offer great quality while they are also offering units that are currently very well priced and can be bought under market value.