This is a really great question and one that is probably going to be mostly determined by your criteria, lifestyle and ultimately by your budget. There are many different neighborhoods in Miami and what you get for your money really depends on that saying: location, location, location.
Many people we work with want to live in the “city areas” of Miami so this usually means Brickell, Downtown Miami, Midtown Miami or South Beach (a neighborhood of Miami Beach). After all many people who move to Miami, move here for the beaches and city attractions.
View Miami Beach, Brickell, Downtown Miami & Midtown Miami in a larger map
So, let’s start with South Beach
South Beach is a neighborhood of Miami Beach and is a very unique neighborhood. South Beach is from about 23rd street down to 1st street north to south and from the bay to the ocean east to west.
It’s jam packed full of different people from all over the world. It’s a destination, a scene, lots of shopping, restaurants and one of the really true pedestrian areas of Miami and Miami Beach. Plus it features the infamous beach. It’s truly a very mini city within itself. In South Beach you can park your car and walk to pretty much anywhere you need to be or hail a cab if you have a longer trip. There are many different parks to enjoy outdoor activities, pools, tennis and more.
South Beach is a scene but one many people have wrong. Although there are lots of parties, clubs and events to attend to year round, many professionals and year round residents calls South Beach home. In fact my husband and I have called South Beach home for many years and we really enjoy living here.
Now, one thing that is true is this. Some of the world’s most wealthiest people have homes and condos in South Beach and because it is an amazing city, it draws a huge crowd of buyers throughout the year. South Beach is on an island with not a lot of land left to develop, so what you get for your money comes at a premium.
The more affordable buildings are typically a little older and the newer buildings sell at top dollar. Many properties in South Beach have broken real estate records throughout the years because of desire of ownership and availability.
Let’s talk about Brickell
Brickell is often referred to as the financial and business district of Miami. There are a lot of banks, insurance companies and International professional businesses based in Brickell. In terms of the overall environment Brickell feels a little more polished, commercial and planned than the organic feel of South Beach.
Brickell is located just south of Downtown Miami on the edge of Biscayne Bay (east). Many of clients really like the Brickell area because in terms of what you get for your money, it’s a lot newer than South Beach. It also offers a pedestrian lifestyle and features the Mary Brickell Village area that hosts many shops, restaurants and bars. Brickell has a lot of growth in it and soon it is going to become even more of a city within itself. There is a lot of construction and development going on in Brickell and in my opinion is an amazing place to invest in real estate now.
Next, one of my favorite areas Downtown Miami
Downtown Miami is located just north of Brickell and south of the Biscayne Corridor and Midtown Miami Area. This area stretches east of 95, south of the causeway and along the Biscayne Bay. On the bay side of Downtown Miami are the Port of Miami, Bay side Market Place, the American Airlines Arena and the soon to be Miami Art Museum (scheduled to open in 2013).
During one of the most challenging times in our market, many different developers of this city have managed to open some of the best and highest end buildings in Miami like Marquis. I think this area has big things to come in its future! Pretty impressive.
& last but not least Biscayne Corridor and Midtown Miami
Biscayne Corridor/Midtown Miami are sort of parallel to the Miami Beach area and just off of the Biscayne Bay. There are still a lot of projects planned for the future in terms of development but since the market has slowed down, I think some of those plans slowed down too.
The 1800 Club & Quantum have totally transformed the Pace Park area, Biscayne Corridor and there are many new projects in development now. Midtown Miami is hustling and bustling these days with a lot of shopping, restaurants and lounges. If you live in these areas you are probably going to be driving around in a car more than you would in Brickell or South Beach because the buildings are block to block (not fully 100% developed yet) but don’t worry, both areas are in the way of transformation.
In the end, where you choose to live will depend on many different factors but Miami and Miami Beach has something to offer every taste and budget.
As you can see, each of these areas are very unique. Where you should live depends on your budget, lifestyle and what you expect to get for your money. South Beach, Brickell, Downtown & Midtown Miami are different and each have something special to offer….. drive around, do the comps, preview the buildings and find out which area and building fits you.
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