South Florida’s Spring Launches Will Fuel a Booming Condo Market
The newest projects include twin towers by Robert A.M. Stern Architects and a Diesel-branded condominium
With its low taxes, great weather and an increasingly sophisticated metropolitan quality of life, the booming Miami-Dade County real estate market shows no signs of letting up, with a new crop of luxury homes coming to market this spring.
Sales of homes over $10 million in Miami have increased 158% over the last two years, according to a 2021 report by Compass. About 40% of these buyers are from California and 40% are from New York, with the rest coming from other high-tax states.
“The demand for luxury product has increased so dramatically,” said Chad Carroll of Compass. “Developers have recognized that and I think we will see it increasing over the next couple of years. We’re seeing a level above what Miami has had in the past.”
Developed by Related Group and Alta Developers, Casa Bella Residences by B&B Italia will offer 312 luxury condos in a new 55-story tower at 14th Street and Biscayne Boulevard in the heart of Downtown Miami’s Arts and Entertainment District.
It is the first branded residential project for B&B Italia, the well-regarded Italian furniture company known for its modern furnishings and collaborations with brands like Rolex, Hermès and Rolls-Royce. Residents will have open views of Biscayne Bay as well as easy access to nearby attractions such as the Pérez Art Museum Miami, the Frost Museum of Science, the Adrienne Arsht Center for the Performing Arts and the FTX Arena as well as Miami Beach, Coconut Grove and Brickell.