Eden House

Annual & Q4 2024 Miami Beach Luxury Condo Market Report

Despite shifting toward a buyer's market, Miami Beach ended 2024 on a strong note. In Q4, sales momentum surpassed projections, with both annual and quarterly volumes increasing. While some segments saw slight price pressure, there were no signs of a major downturn. Highlights on this report include Fisher Island emerging as the strongest market in Miami Beach with the highest year-over-year sales growth in Q4, while Mid-North Beach topped annual sales trends. Fisher Island remained South Florida's most expensive zip code for luxury condos, both quarterly and annually. Meanwhile, the modest Mid-North Beach market was the fastest-moving in Q4. Dive into our in-depth analysis for year-over-year insights on how each Miami Beach neighborhood performed against one another and the broader Miami luxury condo market in Q4 and throughout 2024. For this report, Miami Beach sub-neighborhoods include South Beach, Mid-Beach, North-Beach, Sunny Isles Beach, Surfside, Bal Harbour, and Fisher Island. Also, this luxury condo submarket report only features properties priced at $1 million and above.

Shoma Bay Condo Tower Launched in Miami Beach’s North Bay Village

Developer Shoma Group launched sales for its boutique waterfront condo project Shoma Bay. The 21-story condo tower will stand in one of Miami’s most idyllic waterfront communities, part of a three-island paradise called North Bay Village. Coral Gables-based developer Shoma Group is also the name behind South Beach’s ultra-luxury Ten 30 condos. The masterfully-designed Ten 30 community stands only 3 stories tall with 43 high-design residences and an alluring set of amenities including a rooftop sun deck with a rose-colored pool, outdoor yoga areas, two fitness centers, an herb garden, and more. Prices at the newly launched Shoma Bay condos start in the $400,000s. Buyers will have a choice of 360-square-foot studios to about 1,500-square-foot 3-bedroom residences. Prices are expected to average at about $900 per square foot, an exceptional value for the amenities and location in comparison to other similar waterfront preconstruction projects in Miami. Shoma Bay is likely to break ground early next year, with completion expected in late 2024. Originally planned as a multifamily apartment rental tower, Shoma Bay will be the second pre-construction rental project in Miami to convert to condos, after the successful launch of PMG’s Elser Hotel & Residences in Downtown Miami this June. ### North Bay Village’s Gorgeous Shoma Bay Condos Shoma Bay will rise 21 stories with 327 luxury condos just off the John F. Kennedy Causeway. Developer Shoma Group has tapped MSA Architects to design the project, while Miami-based Adriana Hoyos will design the interiors. MSA’s was the architect for the very popular Waverly at Surfside condominium. The mixed-use Shoma Bay is expected to feature sweeping water views at every turn, in addition to a range of resort-style amenities. Amenities planned for this luxury community include a 6,030-square-foot pool deck with cabanas and a summer kitchen, a fitness center with Technogym equipment, a spa, a residents’ lounge and bar, plus a kid’s club. There would also be a 2,600-square-foot co-working business lounge, library, pet spa, charging stations for electric cars, and more. Shoma Group had paid about $16 million for the 2.8-acre lot at 1850 79th Street Causeway in May. Prior to being converted to condos, the mixed-use project was approved to feature a 36,000-square-foot Publix and about 6,300 square feet of retail inclusive of a rooftop lounge plus Shoma Bazaar food hall. How many of these elements make their way into the condo tower is yet to be seen. ### North Bay Village - A Quaint Community with Water at Every Turn Shoma Bay 2.8-acre waterfront lot sits on the main thoroughfare connecting the islands to the mainland and Miami Beach. Surrounded by fantastic water views on all sides, residents will be part of a beautiful island community that houses the prestigious KLA Schools, a supermarket, a mini market, and a handful of restaurants. By car, the Normandy Shores Golf Course, La Gorce Country Club and North Beach will be less than 10 minutes, shopping at the upscale Bal Harbour Shops will be 20 minutes, the world-famous beaches of South Beach will be 20 minutes, the artsy murals of Wynwood will be 20 minutes, and the Miami International Airport will be 30 minutes. The only other pre-construction planned for North Bay Village is 7918 West Drive. Developed by Kuala Lumpur-based P&O Global Technologies, the 21-story ultra-luxury condo tower will be home to 54 bespoke residences. With only 4 residences per floor, 7918 will feature a unique sun-and-shade design developed by MTTR MGMT’s Juan Azulay. Standout amenities include a waterfront pool, indoor Japanese gardens, wellness studio, a summer kitchen with BBQ terrace, and more. **ARE WE FRIENDS ON SOCIAL MEDIA?** 📣 Connect with us on Instagram, TikTok and Youtube. 📣 If you’re interested in learning more about Shoma Bay, 7918 West Drive, or any other pre-construction condo in Miami or the Miami beaches, please call, chat, or email us directly to lock in early bird prices, get a private presentation, reserve a preferred unit, or browse more investment-worthy properties.

The Most Luxurious Condo Buildings in North Beach

Luxury means different things to different people, but high-end living usually demands high-end prices. So, to gauge which are the most luxurious condo buildings in Miami Beach’s North Beach neighborhood, we’ve ranked the top 5 most luxurious buildings of the neighborhood (based on average price per square foot at the time of publishing). This blog will give you a sneak peek into the kind of lifestyle you can expect to find if you’re interested in what North Beach condo living is like. ###### _Last updated on July 20, 2022_ ## Why Choose North Beach? ##### Bandshell - North Beach, Miami FL. Photo courtesy of MiamiAndBeaches.com North Beach is best known for its family-friendly vibe and its location between the sensationalism of South Beach and high-end shopping and more refined living in Bal Harbour. Historically, this has been the sleepy cousin to South Beach, but North Beach has been going through a renaissance of late with the addition of new condo buildings and revitalization of the city center. Away from the chaos, this laidback part of town boasts crowd-free beaches, a great golf course, musical events at the North Beach Bandshell, and scenic walks along the boardwalk at very friendly price points. It also ranks #15 on the “Places with the Best Public Schools in Miami-Dade” according to niche.com. --- ## The Best of the Best Condos in North Beach --- 1. ### **Akoya** **– 6365 Collins Avenue, North Beach** Average List Price: $1,053 per square foot This crown-top, oceanfront tower built in 2004 and designed by Brito, Cohan & Associates houses 386 luxury condos spread across 47 stories. A favorite of locals, amenities at Akoya include direct beach access, an oceanfront swimming pool with cabanas, indoor racquetball court, tennis court, putting greens, and state-of-the-art fitness center. To see available condos for sale in Akoya, go here. 1. ### Monaco Yacht Club & Residences – 6800 Indian Creek Drive, North Beach Average List Price: $1,377 per square foot In his signature purist style, these ultra-chic, waterfront luxury residences come designed by one of the finest international interior designers, Italian starchitect Piero Lissoni. Brand new and completed in 2022, only 39 Cote d’Azur-style condos are featured in the 12-story building inspired by the French Riviera’s enduring glamour. Each fully-finished residence is enhanced by warm whites, a rich wood palette, and lustrous metals. Amenities here include a private marina with 12 boat slips, 5,900 square feet of rooftop terrace with pool, lounge and sun deck, a library, breakfast bar, exclusive beach access, and more. To see available condos for sale at the Monaco Yacht Club & Residences, go here. 1. ### Carillon North Tower – 6899 Collins Avenue, North Beach Average List Price: $1,444 per square foot Perched on 750 feet of quiet beachfront, this north-half of the Carillon Towers features 17 stories with 207 luxury condos. Residents of this oceanfront development gain access to a resort-quality spa, full-service beauty salon, 60,000 sq. ft. fitness center overlooking the ocean, a healing center, oceanfront restaurant serving gourmet eats, natural juice bar, four swimming pools and much more. To see available condos for sale in Carillon Towers, go here. 1. ### L’Atelier – 6901 Collins Avenue, North Beach Average List Price: $2,224 per square foot This all-glass, oceanfront mid-rise comes with just 23 luxury units housed amidst 18 floors. Besides panoramic ocean views, this stellar creation features distinctive amenities and exquisite finishes designed in collaboration with Holly Hunt, a legend in the design industry and a noted tastemaker. Residents get access to an infinity-edge oceanfront pool and 78-foot lap pool, poolside services, poolside bar and BBQ area, whirlpool spa and hammock garden, spa and sauna rooms, beauty salon, private beach access with attendants, library and meeting rooms. To see available condos for sale in L’Atelier, go here. ## And the Winner of the Best Condo in North Beach in Terms of Luxury Goes To… 1. ### Eighty Seven Park – 8701 Collins Avenue, North Beach Average List Price: $2,580 per square foot Located right next to the lush North Shore Park, this ultra-modern condo building completed in 2019 is home to 70 luxury residences sprinkled across 18 floors. Designed by the Pritzker prize-winning architect Renzo Piano, the waterfront building offers sweeping views of the Atlantic and city. With interiors by one of the top international interior design firms, Rena Dumas Architecture, all interior spaces feature a nature-inspired palette, making residents feel at one with their surroundings. Residents further have access to a host of five-star amenities such as the Enoteca wine shop, Soul Center luxury spa, Fugo outdoor juice bar, pools with cabanas and towel service, beauty salon, private garden, library, plus exclusive beach access with towel service. To see available condos for sale in Eighty Seven Park, go here. ## Premium Pre-Constructions to Watch Out for in North Beach North Beach is attracting the ultra-high-end condos that Miami Beach has always been famous for. As and when these are being delivered, they are changing North Beach’s reputation from a laid-back, somewhat neglected part of town to one of the most serene and desirable waterfront addresses and neighborhood-y enclaves. Some of the highly anticipated pre-construction condos expected to hit this quaint section of Miami Beach include 72+ Collins Hotel and Residences plus Equinox Hotel and Residences, which will be located where the historic Deauville Hotel stands. More details to follow. ## How Safe is North Beach? This underrated neighborhood gets fewer visitors and tourists compared to its hip cousin down south, thus it typically has less crime compared to the spring breakers’ favorite South Beach. Fewer crowds and a small-town-like community make North Beach safe enough for runners, bikers, and dog walkers to frequent its scenic boardwalk. It also ranks (as part of the Miami Beach area) as No. 1 on the ‘Best Suburbs for Young Professionals in Florida and Miami’ and No. 12 on the ‘Best Places to Live in Miami-Dade County’ rankings according to niche.com. ## Best Restaurants in North Beach ##### The Strand at Carillon Miami - North Beach, Miami FL. Now, North Beach may not have the unlimited fine-dining options of South Beach or Downtown, but it does have a host of affordable restaurants: * Café Prima Pasta is the neighborhood favorite for fresh and flavorful Italian and a great wine bar * The Strand at Carillon Miami offers contemporary Mediterranean featuring locally grown foods, set in the Carillon Hotel and Condo * Gelato-go by Dolci Di Sicilia is a bakery serving the most delicious gelato, cannoli, tea and coffee * George’s Restaurant and Lounge is another great Italian joint known for its lobster ravioli * Burgers and Shakes is the top choice for hearty comfort food and smoothies * Athens Juice Bar is the best affordable bet for healthy treats * Buenos Aires Bakery and Café is where people go for their empanada fix * Mi Colombia Cafeteria Y Restaurante is the best place for homemade Colombian delicacies * Sawaddee is the place for Thai food and sushi in the neighborhood * Sazon Cuban Cuisine is a popular joint for Cuban food, best-known for their ropa vieja, vaca frita and churrasco * Las Vegas Cuban Cuisine is another popular place for top-notch Cuban food * Taquiza is a popular Mexican bar serving some of the best tacos in this part of town * Merkado 31 is known for its Peruvian concept cuisine * El Rancho Grande is THE place to experience the rich and diverse flavors of Mexico * Little Brazil is where locals go for authentic Brazilian picanha, steak, seafood, and desserts * Katana is the sushi bar of choice for locals and visitors alike * New Campo Argentino Steakhouse is a reliable spot for top-quality steaks done right * 7tyone Restaurant & Coffee is a Venezuelan cafe and pizza place * Silverlake Bistro is a mood with candles on each table and Californian delights on your plate * Carrot Express delivers healthy acai bowls and smoothies to this side of town ## Shopping in North Beach Shopping is simple in North Beach, with mostly convenience stores, small private markets, boutiques and utility shops spread across its landscape, but that lends to its neighborhood feel. Even though there aren’t many big-name brands or shops here, you will find a Publix Supermarket and two Walgreens along Collins Avenue plus another Walgreens on Normandy Isle. There is also a Starbucks located next to the Publix, and several specialty food markets, some with coffee counters inside. For luxury shopping options, head north to the Bal Harbour Shops, or south to Lincoln Road. ## The Best Located Condo in North Beach Sitting directly on the beach and with a Publix Supermarket across the street, we’re picking the Carillon Towers as the best-located condo in North Beach. There’s also a Walgreens, the North Beach Bandshell plus a bunch of restaurants within walking distance. A short drive further takes you to two great golf courses close by (Normandy Shores and La Gorce) and the Bal Harbour Shops, which is a world-class shopping destination for high-end brands. **LET'S GET SOCIAL!** Connect with us on Instagram and Youtube. Need more information on luxury condos for sale in North Beach, check out the collection for details on amenities and the kind of lifestyle you can expect.