Address: 3470 East Coast Avenue, Miami
Neighborhood: Midtown-Edgewater
Year Built: 2007
# Units: 338
# Floors: 28
# Parking Levels: 6
Ross’s Comments – What you Need to Know about 2 Midtown
The grand vision of Midtown Miami was to create a vibrant residential and shopping district where residents and Miamians live, shop, dine, work, and play in over 60 retail, restaurants and service establishments.
In close proximity to the beaches, downtown Miami, Miami International Airport, several major highways plus the Design District and Wynwood Arts District, the location and accessibility of Midtown is excellent.
Two Midtown is comprised of a 30-story tower, the mews (live/work spaces), and mid-rise loft units on the west side facing Coast Ave.
The east facing tower units on higher floors have excellent views over the bay and Miami Beach in the distance (lines 11, 12, 13, 14 and 01).
Be aware that there is considerable highway noise when outdoors on the north side of the tower.
BUILDING QUALITY
MANAGEMENT
LOCATION
RENT FRIENDLY
ACCESSIBILITY
FINANCING
DESIGN & EFFICIENCY
AMENITIES
WALKABILITY
PET FRIENDLY
PARKING
SECURITY
RECENT PRICE/SQ FT $391
RECENT PRICE/M² $4,209 SEE PRICE HISTORY
MAINTENANCE COST/SQ FT $0.76 – $0.99
2 BEDROOM PRICE RANGE (2014-2015) $360,000 – $550,000
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UNIT SIZES 635 – 3,471 sq. ft (59 – 323 m²)
UNIT TYPES 1 ,2 and 3 bedrooms
# OF UNITS 338
# OF FLOORS 28
# OF PARKING LEVELS 6
ARCHITECT Bernard Zyscovich
DEVELOPER Midtown Group
PET POLICY 2 pets per unit up to total 120 lbs, other restrictions apply
24-Hour Concierge, Valet and Security
Private storage facilities
Rooftop swimming pool overlooking the bay
Jacuzzi, sauna, steam room
Outdoor gathering spaces with fireplaces
Dramatic state-of-the-art fitness center
High speed elevators
Ground-level retail
MIDTOWN / EDGEWATER
The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.
Major construction is already underway to further transform the Miami Design District into a destination for fashion, design and culture. In 2014, luxury fashion brands such as Givenchy, Miu Miu, Tom Ford, Fendi, and Dolce & Gabbana among others, will be opening in the Design District. The new development will also include buildings by renowned architects Sou Fujimoto, Aranda/Lasch, Iwamoto Scott and Leong Leong.
In what used to be the manufacturing district of Miami, over the past few years local developers have rehabilitated warehouses and other unused buildings into the Wynwood Arts District. Today, Wynwood consists of numerous art complexes, galleries, performing art spaces, restaurants and cafes.
Due to its strategic location and availability of waterfront property, Edgewater is currently realizing the largest growth of these submarket areas with over 2,600 new residential units under construction. According to a study released by the Miami DDA, this is a 67 percent increase over the current size of the market. This, combined with the development opportunities surrounding the Arsht Center for Performing Arts, present the most potential for long-term growth in the Greater Downtown Miami Market.
Based on the historical absorption of new residential units (since 2001) and the anticipated annual delivery of new units, we expect that there will still be considerable residual pent-up demand for new construction condos in the area over the next four or five years.
