What are Miami’s Richest, Most Exclusive and Expensive Neighborhoods for 2020?
Looking across the most expensive zip codes it’s easy to find high value real estate in Miami. However, what’s more interesting is our social and economic comments on those most expensive neighborhoods.
As we are real estate brokers, our dialogue understandably revolves around selling real estate and what and where are the best deals that can exist within these communities. Below you will find us drilling down into specific buildings and the specific smaller gated communities within Miami to unearth the best place to call home when you are working with a very healthy budget ($5M+ minimum all the way up to $50M).
Take a read through them, pick up the phone and call me (+1.305.508.0899). I am familiar with handling the most expensive level of real estate in Miami and can provide solid reference points, which becomes ever challenging as you move up into the upper echelons of pricing.
Miami Beach – Indian Creek Island
Miami’s Billionaire Bunker as it is known, home to just 40 properties on 250 acres. An island of only 0.4 square miles, one of the smallest, richest, and most elite neighborhoods in America. The island is home to the ultra wealthy: Forbes 100 CEOs, supermodels and Hollywood A-listers. The island is so secure and private that it has its own 24/7 police force that patrols the island via boat, jeep, and jet ski. There is only one bridge entrance to the island with the closest neighborhood of Bal Harbour in its door steps. The only downside is that properties very rarely come up. Currently only 1 for sale on the market and no recorded MLS sales in the last 4 years.
Price range: $14,4M – $47M
Miami Beach – North Bay Rd (waterfront side)
North Bay Rd is often considered as the prime street location for Miami Beach residents. It’s just a couple minutes away from Lincoln Rd, Purdy Ave and other prime beach locations. North Bay Rd is quiet and picturesque, which is ironic considering it runs parallel to the very busy Alton Rd. These exclusive waterfront homes enjoy solid inter-coastal views and are on a par with homes on Hibiscus Island.
Price Range Waterfront: $7.5M – $45M+
Miami Beach – Hibiscus Island
The Venetian Islands are comprised of six man-made islands, connected by a private road called the Venetian Causeway. The Venetian Islands are situated along Biscayne Bay and within convenient distance of many of Miami’s hotspots. Upscale shopping, fine dining, art galleries, and cultural events of Downtown Miami, Brickell, and Wynwood are all within minutes from the these islands. Within Hibiscus Island, the east facing waterfront properties command the highest value.
Price Range: $1,2M and $14M +
Miami Beach – Star Island
As the name suggests, this island is often associated with the homes of the rich and famous. The downside here is that you are going to have to deal with the boats of tourists coming past the property to gawp. Star Island has some extremely high-end real estate and particularly on the corners of the island where the largest lots sit.
Price range: $7.1M – $28M
In 2018, Fisher Island was the 10th most expensive zip code in the US and the most expensive in Miami Dade, although this could be misleading. With that said it may have some of the most expensive condos (courtesy of buildings like Palazzo del Sol), but not the most expensive single-family homes because the lots are not that big and neither are the homes. If you want an ultra-private condo environment then this could be it as you have to take a ferry to get to the Island. A 9-hole golf course, 18 tennis courts, beach clubs and multiple restaurants makes this a private island with panache!
Price range: $1M – $30M+
Miami Beach – South of Fifth
South of Fifth is considered by many as the premier condo neighborhood for Miami. Home to the most established restaurants: Joe’s Stone Crab and Prime 112. This established neighborhood is most void of hotels and has a solid primary number of residents. The dominant luxury buildings here are: Continuum, Apogee, Ocean House, 321 Ocean and Glass. Expect to pay between $2000 – $2700 per SqFt for the best of the best.
Price range: $500K – $26M+
Coral Gables – Gables Estates
This incredible gated community is home to a solid number of direct ocean facing homes (only 42 direct ocean facing homes exist in Miami). Leucadendra drive, Arvida Parkway and Casuarina Concourse are the streets. If you want a couple of acres on the open water then this is one of the few places you will find it. The best schools in the state are mere minutes away and there are a number of excellent Golf Courses, as is the heart of Coconut Grove and Coral Gables. Truly the best suburban living environment that Miami has to offer.
Price range: $5.9M – $43.7M +
Coral Gables – Tahiti Beach
An ultra-luxury community inside the existing luxury community of Cocoplum. Not the kind of community you can drive around. You will need a personal invite by a resident just to get through the gates. Again like Gables Estates, you are looking at prime open water views of the ocean.
Price range: $4.3M – $14.5M+
Key Biscayne – Harbor Point Mashta Island
Surprisingly there are actually only 42 direct waterfront homes in Miami without any obstructed views of the ocean. S Mashta Drive and Harbor Point are the best two streets where a 20,000 SqFt lot will cost you around $10M and you will find some pretty spectacular contemporary homes here of 10,000 SqFt or more. Why Key Biscayne? This 12 mile island is close to Brickell, Grove and Gables. A very self contained island where even very young kids get to ride their bikes to the island’s A rated school; St Agnes. Island living at its best without the excessive isolation!