Miami has a long history of importing New Yorkers, their culture and their restaurants. Now it seems Miami real estate developers are hitching a ride on the Big Apple bandwagon.
With foreign currencies losing value, the U.S. dollar gaining strength and South Florida prices seen as a bargain versus other gateway cities, the Miami condo market is turning to New York as its domestic market of choice.
And because capturing the attention of New Yorkers is no small task, Miami developers are coming up with not-so-subtle marketing and design tactics that aim to infuse a bit of Manhattan into the Magic City.
Terra‘s new Renzo Piano-designed project in Miami Beach has been named Eighty Seven Park in a nod to New Yorkers who know the value of a direct park view. The development will offer 70 condos with direct ocean views – all adjacent to a 35-acre waterfront park.
Further south, in Miami’s urban core, Ugo Colombo’s CMC Group has branded it’s 64-story tower Brickell Flatiron, an homage to the iconic Flatiron Building in Manhattan. Like its New York counterpart, Brickell Flatiron is situated on a wedge-shaped island within walking distance of some of the city’s hottest shops and restaurants.
NYC culture vultures looking to swap the winter boots for a pair of flip flops won’t miss a beat at Aria on the Bay, a new condo situated in of Miami’s Art and Entertainment District. The bayfront high-rise is within blocks of Miami’s new art and science museums, the Adrienne Arsht Center for the Performing Arts, and two of the City’s largest waterfront parks.
New Yorkers who live, work and play at the Time Warner Center can now find a familiar home in Miami. PARAMOUNT, part of the 27-acre Miami Worldcenter project, has taken a page out of Time Warner Center’s playbook by hiring the same architect, Elkus Manfredi, and placing the 60-story tower atop a 765,000 square foot mall.
Given the Miami real estate market’s heavy reliance on Latin America in recent years, it’s refreshing to see developers look northward. Now only time will tell if all those years of suffering through ‘sixth borough’ jokes will finally pay-off.