During the last few years, Miami Beach has been at the forefront of luxury condos and high-end developments. One of the most notable changes to the Miami Beach real estate market is the introduction of luxury branded condos. The Setai. W South Beach. Mondrian. Ritz Carlton. These are just a few of the new branded condos that are changing Miami Beach.
Almost all of these new branded luxury condos are ultra-exclusive and ultra-expensive. The W hotel brand is associated with modern design and cool funky interiors. It is also associated with very pricey room rates. So when W South Beach announced they were building a luxury oceanfront condo, you can bet prices would be high.
For example, purchasing a studio suite in the new W South Beach will set you back around $1 million. That’s almost $2,000 Sq.Ft. What’s even more amazing is the fact that sales have continued to stay strong. The W South Beach offers a great condo hotel program and can help owners offset the cost of ownership. Combined with award-winning restaurants, nightclubs and amenities, the W South Beach is going to be an amazing place to live.
Another ultra-exclusive condo that continues to set records is the Setai Residences in South Beach. With prices starting at $1 million and 2 bedrooms priced well over $2.2 million, the Setai is arguably the most luxurious buildings in Miami. The amenities, the staff, the restaurant and even the bar are all to notch. The Setai has become synonymous with luxury and white glove service. After all, it is featured in magazines all over the world.
So what makes someone spend nearly $2.5 million on a small 2-bedroom condo? The answer is in the name. When someone buys a unit at Setai, they are not just buying into an ultra-luxury condo building; they are buying into the name. The Setai is the ultimate in luxury condos and hotels. From the 5 star hotel to the highly acclaimed restaurant, the Setai is the epitome of luxury living.
With all the negative press about the Miami Real Estate market, the luxury end of the market is doing very well.
In fact, there have been more luxury sales in 2007 than in years past. For more information, visit my website at http://www.joshsteinrealtor.com