Why Midtown Miami should be on your real estate radar

Imagine towering skyscrapers, elegant art galleries, and trendy designer boutiques, all within a short walking distance from your doorstep. Then, just a 10- to 15-minute drive away, pristine beaches that give way to the dazzling Miami Beach or the runways of the Miami International Airport, ready to take you to your next destination. These are just some of the reasons why Midtown Miami should be on your real estate radar.

WELCOME TO MIDTOWN MIAMI

Midtown Miami is a 55-acre premier development that is heralded as Miami’s version of SoHo and cost approximately $2.3 billion to build and develop. They carved out parts of Edgewood and Wynwood to create an 18-block neighborhood– a vast all-in-one destination where you can live, work, and play.

What makes Midtown Miami even better is the location. It’s bounded by some of the city’s most exciting neighborhoods, including the Design District and Wynwood to the south. To the east is picturesque Biscayne Bay.

Prior to its development, Midtown Miami was almost like a forgotten section of the city. Warehouses and other industrial buildings were scattered throughout the neighborhood, some of which had been converted into low-rent residences.

Redevelopment of Midtown Miami started in 2005 on a former FEC rail yard. Unfortunately, progress was stalled during the 2007 real estate bubble. At that time, Midtown Miami only had two residential buildings. The Shops at Midtown Miami was also unfinished. About 17 years after the real estate bubble, Midtown Miami has since flourished to include several more mixed-use buildings and a plethora of retail options.

WHAT TO LOVE ABOUT MIDTOWN MIAMI

The local real estate offerings

Midtown Miami real estate is one of the best markets to explore for anyone looking for a sleek high-rise condo built to the latest standards. That’s because all of the condos in the neighborhood were built after 2005. Due to the community’s location, real estate offerings in Midtown Miami enjoy fantastic views of the city, Biscayne Bay, and the ocean.

In terms of prices, Midtown Miami real estate runs the gamut, from reasonably priced to expensive. List prices as of the time of writing range from the low $400,000s to nearly $3 million. The average home value in the neighborhood, on the other hand, is around $700,000. As more people flock to Midtown Miami, expect for both demand and prices to increase.

In terms of architecture, most buildings in Midtown Miami are typically contemporary or modern in aesthetic. That said, you can find Art Deco and Miami Modern (MiMo) influences throughout Midtown Miami and surrounding communities.

You’ll recognize the Art Deco style with defining characteristics such as sculptured panels and stepped rooflines. Meanwhile, it’s easy to recognize Miami Modern architecture because of design elements like curved walls and relief ornamentation.

The live-work-play lifestyle

Midtown Miami is a “city within a city,” and in many ways, a mini Miami. The neighborhood is made up of several mixed-use buildings, all of which are fitted to offer a complete lifestyle.

• HYDE Midtown, also known as Midtown 3, was completed in 2018 and added 470 units (410 condo residences and 60 suites designed by David Rockwell) to Midtown Miami’s real estate scene. Many of these residential units are fitted with private terraces, custom European kitchen cabinetry, energy-efficient floor-to-ceiling glass windows, and designer porcelain tile in the bathrooms. HYDE Midtown, which was designed by Arquitectonica also features a bevy of community amenities, including a heated pool and adjacent cabanas, a full-service spa, and a tennis court, just to name a few.
• A perfect example is pet-friendly Midtown 2, which is divided into three sections: The Tower, The Mews, and Mid-rise. The Tower is Midtown 2’s main residential area with over 200 luxury condos, while Mews and Mid-rise each offer zoned live-work residences. All of these sections have their own lobbies but are interconnected by walkways as well as Midtown 2’s recreational amenities, which include a fitness center and temperature-controlled dipping pools. Lasty, Midtown 2 hosts several restaurants and services, such as The Little Hen and Salumeria 104.
• Midtown 4 was designed by Nichols Brosche Sandoval and stands at 32 stories high, with over 390 pet-friendly condo units. It’s one of the older buildings in Midtown Miami, having been completed in 2008. Residents– tenants and owners– have a long list of amenities they enjoy, from the infinity-edge swimming pool to the retail spaces and restaurants down on the ground level.
• One of the most distinctive buildings in Midtown Miami is Midblock, a mixed-use complex designed by Midtown Group in collaboration with Bernard Zyscovish. There’s no mistaking this building with its glass rotunda and cantilevered walls– a nice contrast to the high-rises that surround Midblock. It houses over 130 1-2 bedroom residences with high ceilings and private terraces. Midblock also offers several retail spaces for lease.

Other buildings in Midtown Miami include Northblock, Midtown 5, and the 28-story Midtown 8, the latter being one of the newest developments in the neighborhood.

It’s a fun and creative hub

Midtown Miami is fast becoming a business hub for experienced as well as budding entrepreneurs and developers. But as you’ve probably heard, life in the neighborhood isn’t all about work. As you explore Midtown Miami, you’ll find a wide variety of opportunities for rest and recreation depending on your mood or interests.

If you like to wine and dine, living in Midtown Miami puts you minutes away from some of Miami’s best and hottest restaurants and bars.

1. Victory Restaurant & Lounge at The Shops at Midtown Miami is a go-to spot for good food, good drinks, and good vibes. Drop by after work for Happy Hour (hours vary depending on the day) or reserve a table for you and your favorite people for a delectable weekend brunch spread.
2. MAU Miami, another one of the must-try restaurants at The Shops at Midtown Miami, specializes in fusion cuisine. Whether you’re here for dinner or brunch, expect innovative and modern takes on Bohemian-Mediterranean flavors. MAU Miami also features a raw bar, where you can sample some of their signature dishes: tuna tartare and ceviche de coco.
3. Negroni Bistro & Sushi Bar in Midtown Miami is the first Miami location of this well-known brand from Latin America. They’ve won the hearts and minds of many diners from all over the world with their menu that’s centered on international comfort food. But if you’re here specifically for a different take on sushi, try Negroni’s “nigiri experience.”
4. Beaker and Gray has long been a favorite among locals for their globally inspired fare and drinks, but also for the casual yet trendy setting. In the kitchen, chef and owner Brian Nasajon leads the team, while at the bar, patrons can enjoy Beaker and Gray’s award-winning cocktails program with Ben Potts, co-owner, as the beverage director. Keep your eyes peeled for themed specials, such as their R&B night that takes place on the last Thursday of each month.
5. Mayami Wynwood is a short jaunt from Midtown Miami, but this time, the menu is centered on Mexican fusion. When you’re not dining or drinking, come out to the terrace and dance the night– or afternoon– away.

If you like art, from paintings to independent cinema, you’ll find Midtown Miami incredibly stimulating. Some of the must-visit spots in and around the area include:

1. The Institute of Contemporary Art (ICA) Miami in neighboring Miami Design District is only approximately a four-minute drive from Midblock. The museum offers free admission all year round, making art more accessible to the general public. See sculptures, modern art installations, and ICA’s impressive collection of contemporary art from around the world.
2. A block away from ICA Miami lies the Juan Carlos Maldonado Collection (JCMC), the place to be for enthusiasts of geometric abstraction. The museum was established in 2005 by its namesake and features not only Juan Carlos Maldonado’s extensive collection of abstract art, but important scholarly resources as well.
3. The Adrienne Arsht Center for the Performing Arts, the city’s premier destination for theater, dance, and concerts, is about eight minutes away by car from Midtown Miami. The center hosts a wide variety of shows throughout the year, so check their calendar regularly– something might catch your fancy. The Arsht Center also houses the Teatro Restaurant, where you can treat yourself to a two-course pre-fixe menu regardless if you’re watching a show or otherwise.
4. The Wynwood Walls is famed in South Florida for its street art. In fact, Wynwood Walls is widely recognized to be the first street-art museum in Miami. Approximately 35,000 sq. ft. of walls are covered from top to bottom in murals and graffiti by over 100 artists from all over the globe. You can join a guided tour to hear the stories behind each single street art at Wynwood Walls, or explore the museum at your own pace and even get a chance to leave your mark with a spray can in hand.

If you like easy access to outdoor recreation, Midtown Miami is ideally located approximately an hour’s drive away (or less) from some of South Florida’s best attractions. South Beach, which is less than 30 minutes away by car, is legendary in terms of nightlife and shopping, but its sandy stretches are also great for a range of water activities. Other similar destinations near Midtown Miami include the Historic Virginia Key Beach Park and Surfside Beach.

While there are no parks in Midtown Miami, you’ll find plenty in surrounding neighborhoods. These include Morningside Park, Margaret Pace Park, Roberto Clemente Park, Moore Park, and Maurice A. Ferré Park. The latter is the site of the renowned Philip and Patricia Frost Museum of Science. From Miami, the vast Everglades National Park is about an hour’s drive away.

There are plenty of things to look forward to

At present, Midtown Miami real estate already offers over 1,000 residential units and plenty of square footage dedicated to recreation and retail spaces. But there’s more in store for residents and prospective investors. Below is a sneak peek of current and future developments in Midtown Miami as well as relevant updates:

• The construction of The Standard Residences, Midtown Miami is currently underway with 90% of the project already pre-sold as of January, 2024. The building is set to be completed within the year and will be the first pied-à-terre-style building in Midtown Miami.

  The Standard Residences’s architect is renowned firm Arquitectonica, while the building’s interior design will be handled by Urban Robot. Residential units will range from 432 sq. ft. to 965 sq. ft. in size and will feature custom Italian cabinetry, light-wood plank floors, and oversized spa bathrooms, to name a few amenities.

  And speaking of amenities, residents and tenants of The Standard Residences will all enjoy access to a 60-ft. resort-style swimming pool area with a restaurant and bar, several fitness and wellness facilities, co-working spaces, a dedicated social floor, and an outdoor terrace. You can learn more about The Standard Residences, Midtown Miami project here

• Urban Network Capital Group and Vertical Developments teamed up in October, 2023 to purchase a Midtown Miami real estate property for $13.5 million. The property is a 0.45-acre plot sold by Hotelex Midtown LLC and Hotelex Brickell LLC. Both development companies intend to build a condo-hotel tower on the site following the rising popularity and demand for condo-hotels in this part of Miami. As of date, there is no further news about this new project, but experts predict that if it pushes through, Midtown Miami will have a new 24-story building with either 130 hotel rooms or over 60 condo units.
• Plans for an undeveloped parcel of land in nearby Edgewater have been approved. This upcoming project by Oak Row Equities and Lndmrk Development is for a 38-story mixed-use tower to be designed by Arquitectonica. Dubbed 2900 Terrace, the building will add over 320 luxury residences and more retail spaces to the local real estate market. 2900 Terrace isn’t technically located in Midtown Miami, but these two areas are deeply intertwined. In fact, Edgewater has seen remarkable growth since The Shops at Midtown Miami opened back in 2006. 2900 Terrace’s development is simply indicative of the rise of high-end multifamily assets in the area.

LET THE BERRY CARMONA TEAM GUIDE YOU

If living in Midtown Miami is your goal, let us be your partner in that journey. We’re Melissa Berry and Jesus Carmona, a husband-and-wife duo and real estate professionals experienced in Midtown Miami real estate.

Talk to us about your real estate goals in the neighborhood! You can call us at 305.904.4681 or email us at your convenience. You can also fill up this form right here and we’ll be the ones to get in touch with you.