Ross’s Comments – What you Need to Know about Loft Downtown
Located within one or two blocks of Biscayne Boulevard, both Loft Downtown and Loft Downtown II have benefitted from the recent redevelopment of the downtown Miami area, in particular, those buildings closest to Biscayne Boulevard.
As the condominium has no parking structure, the building has a lease agreement with the city of Miami to provide parking for the residents that is one block from the building.
The building amenities, including the ground level pool area, are limited in both scope and size.
Built as standard loft units with 12’ concrete ceilings, modern and minimalist kitchens and bathrooms, an open concept design with limited storage and closets.
In spite of the loft design and condo limitations, these buildings are popular with the trendy downtown crowd, students and local residents looking for an affordable urban Miami lifestyle.
BUILDING QUALITY
MANAGEMENT
LOCATION
RENT FRIENDLY
ACCESSIBILITY
FINANCING
DESIGN & EFFICIENCY
AMENITIES
WALKABILITY
PET FRIENDLY
PARKING
SECURITY
RECENT PRICE/SQ FT $274
RECENT PRICE/M² $2,949 SEE PRICE HISTORY
MAINTENANCE COST/SQ FT < $0.75
2 BEDROOM PRICE RANGE (2014-2015) $296,500 – $320,000
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UNIT SIZES 625 – 1,200 sq. ft (58 – 111 m²)
UNIT TYPES 1 and 2 bedrooms
# OF UNITS 196
# OF FLOORS 24
# OF PARKING LEVELS No Onsite Parking
ARCHITECT Cohen & Freedman
DEVELOPER The Related Group of Florida
PET POLICY Pets allowed subject to restrictions.
24-Hour Concierge, Valet and Security
Courtyard with thermal waterfall
Cutting edge fitness facility
Aromatherapy steam room
Multifunction club room with entertainment center
Koi fish pond
Juice bar
Lava rock saunas
DOWNTOWN MIAMI
After more than a decade of unprecedented public and private investment, downtown Miami has clearly turned a corner from what was once a strictly nine-to-five district into a 24/7 livable city. Since 2002, real estate projects with a value of close to $18 billion have been developed in downtown Miami, creating a strong base of commercial and residential development and serving as a magnet for new businesses and residents.
Downtown Miami is an urban residential neighborhood, and the central business district of the city of Miami and Miami-Dade County. Downtown is the historic, cultural, financial, and commercial center of South Florida, tracing its history back to the 19th century. With recent mass construction of high-rise residential buildings, several hotels and office towers, downtown continues to experience significant growth, with new shops, bars, parks, and restaurants opening up, attracting many new residents. According to the Miami Downtown Development Authority, Downtown Miami’s population has doubled over the past ten years and now has over 74,000 residents with a median household income of $70,800.
Downtown Miami is also the home of the vibrant Adrienne Arsht Center for the Performing Arts, American Airlines Arena, Perez Art Museum Miami, and Frost Museum of Science. The Perez Art Museum Miami is the new anchor of the 29-acre Museum Park overlooking Biscayne Bay and includes public gardens and sculpture installations. This vital downtown park is central to efforts to strengthen greater Miami’s momentum as an emerging global capital. A vibrant mix of green space and cultural offerings, in addition to the landmark new art facilities the park will also be the future home of the Frost Museum of Science.
In addition to the development and growth of the area in general, a massive $1.5 billion mixed use development dubbed “a city within a city”, the Miami World Center, is about to break ground. The mixed use development will consist of a massive 1 million SF shopping mall, 1,800-room Marriott Marquis Hotel, a 600,000 SF convention center, and three high rise towers with over 1,200 residential units.
