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    What is the Best Luxury Pied-à-Terre on Miami Beach? (In our opinion)

    January 26, 2017

    A comparison of 1-bedroom luxury condos on Miami Beach

     

    Miami Beach is known for its ultra-luxurious condos with great views. Most of these condos however offer massive floor plans with 2 or more bedrooms leaving investors that are looking for a 1-bedroom condo out of scope.

    One condo that offers luxurious one bedroom units on Miami Beach is Eighty Seven Park.  Eighty Seven Park is a brand new luxury condo in the North of Miami Beach designed by architect Renzo Piano. The luxury condo offers the finest finishes, services and amenities and provides for a private beach and a private park.

     

    More information on Eighty Seven Park
    Why is Eighty Seven Park so desired with buyers?

     

    With this in mind we decided to compare five different resale and two pre-construction condos (indicating how hard it is to find a pre-construction project with 1 bedrooms) to the 1 bedrooms at Eighty Seven Park. First of all, we want to provide you with an overview of the scarcity of one bedrooms (and therefore the great investment value of these units), but we also want to compare the different units with one another to be able to provide you with a better overview of price/value ratios.

    The one bedrooms

    The 1 Bedrooms at Eighty Seven Park

    As mentioned before 87 Park is one of the few ultra-luxury condos that offers 1 bedroom units.
    The one bedroom units at 87 Park offer 1,5 bathrooms, 1,018 SF of interior space and a very expansive 564 SF of terrace that includes a summer kitchen. The 03 line offers a North exposure which means indirect ocean views.

    Prices for a one bedroom start at $1.8M

    Click here for the floor plan of the 03 Line of 87 Park (One Bedroom Units)

    Miami Resale Condos

    The 1 Bedrooms at the St Regis in Bal Harbour

    One bedrooms at St Regis vary between 1,261 SF and 1,478 SF. These units provide for ocean views and asking prices are ranging between $2,750,000 and $2,799,000 or $1,894 or $2,212 per SF

    Impressions of the 1 bedroom units at St Regis

    The 1 Bedrooms at The Setai

    One bedrooms at the Setai vary between 767 SF and 821 SF. The units provide for indirect ocean views and asking prices are ranging between $1,675,000 and $2,150,000 or $2,040 or $2,803 per SF

    Impressions of the 1 bedroom units at the Setai

    The 1 Bedrooms at Continuum North and South Tower

    One bedrooms at the Continuum North Tower vary between 609 SF and 1,412 SF. The units provide for indirect ocean views and asking prices are ranging between $899,000 and $2,350,000 or $1,231 or $1,929 per SF. These units offer garden and/or ocean views and there is no direct correlation between the type of view and the asking price

    One bedrooms at the Continuum South Tower vary between 1,201 SF and 1,365 SF. The units provide for indirect ocean views and asking prices are ranging between $1,750,000 and $2,350,000 or $1,457 or $1,722 per SF. These units offer bay and/or ocean views.

    Impressions of the 1 bedroom units at Continuum 

    The 1 Bedrooms at 1 Hotel and Homes

    One bedrooms at the 1 Hotel and Residences vary between 886 SF and 970 SF. The units provide for city, bay or ocean views and asking prices are ranging between $1,290,000 and $1.650,000 or $1,400 to $1,700 per SF. The average listing price is $1,570 per SF

    Impressions of the 1 bedroom units at One Hotel and Homes

    The 1 Bedrooms at The W Hotel and Residences

    One bedrooms at the W vary between 730 SF and 1,151 SF. The units provide for city, bay or ocean views and asking prices are ranging between $1,549,000 and $2,385,000 or $1,500 to $2,260 per SF. The average listing price is $1,910 per SF

    Impressions of the 1 bedroom units at the W

    Miami Pre-Construction Condos

    It needs to be mentioned that very few of the brand new Miami pre-construction condos are offering 1 bedroom units.

    The 1 Bedrooms at The Ritz Carlton Miami Beach

    Currently two 1-bedrooms left. The units offer1,969 SF interior and a 151 SF terrace They are priced at $1,763,000 or $895 per SF. These units provide for South-West views (no water views) and are located on a low floor

    Impressions of the Residences at Ritz Carlton
    (Not uniquely 1 bedroom units)

    The 1 Bedrooms at Surf Club Residences

    There are two types of 1 bedroom units at the Surf Club residences

    The units at the Four Seasons Hotel Residences. The units offer 1414 SF interior and a 198 SF terrace with views over the skyline and the bay. There is one unit that offers 1 bedroom and a den and that unit measures 1823 SF of interior and 303 SF of terrace with views over the ocean. They are priced between $4M and $4,1M  ($2,835 – 2,905 per SF) while the unit that offers the den is priced at $6M ($3,210 per SF)

    The units at the residential tower vary between 1,845 and 1,960 SF of Interior space with 253/254 SF of terraces and skyline/bay views. These units are listed for $3,75M and $3,8M or $1,913 to $2,032 per SF.

    Impressions of the Residences at the Surf club Four Seasons
    (Not uniquely 1 bedroom units)

    David’s Conclusion

    The 1 Bedrooms at Eighty Seven Park offer expansive interiors as well as expansive exteriors. Comparing the prices to one another, 87 Park is mid-level priced. It needs to be said that many of the more affordable units are located in more dated (Continuum), high density condos.  With the exception of the Ritz Carlton Residences and Continuum, all projects are condo-hotels. Besides being high density buildings, these condos often experience a high number of tourists or short term rentals, which decreases the levels of privacy and exclusivity. The Ritz-Carlton is a luxury condo located on the water, but not on the ocean.

    We can conclude that the one bedrooms at 87 Park offer one of the best values in town as the units are brand new and extremely scarce. The units are larger than usual with large sized terraces and although the condo offers 5 star services, it does not host a hotel. Furthermore, 87 Park is a low density condo, which contributes to the privacy of the condo. 87 Park therefore offers one of the best (if not the best) 1-bedroom deals in Miami Beach.

    For more information about luxury condos in Miami please contact the David Siddons Group. 

    +305.508.0899 | David@SiddonsGroup.com

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