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4 Midtown

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Neighborhood: Midtown-Edgewater

Year Built: 2008

# Units: 408

# Floors: 32

# Parking Levels: 6

ROSS100 Condo Index Ranking +

29

out of 100

COST RATING: +

1.60 out of 5

LIFESTYLE RATING: +

3.33 out of 5

Ross’s Comments – What you Need to Know about 4 Midtown

Similar to 2 Midtown, 4 Midtown is also a combination of flats in a high rise tower, a block of live/work spaces and lofts in the mid-rise tower.

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.

This tower has an amazing large open pool deck on the seventh level that offers beautiful views of Biscayne Bay and the city of Miami.

There are several differences in style and design compared to 2 Midtown, for example, 9 foot instead of 10 foot exposed ceilings, open kitchens with an island, and a more elegant and formal lobby / reception area.

The 1300 SF “07” and “09” lines that face north and northwest are popular due to their separation of the living room / kitchen to the bedrooms, plus an expansive terrace.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $418

RECENT PRICE/M² $4,499   

MAINTENANCE COST/SQ FT < $0.75

2 BEDROOM PRICE RANGE (2014-2015) $400,000 – $555,000

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UNIT SIZES  655 – 4,059 sq. ft (61 – 377 m²)

UNIT TYPES  1 ,2 and 3 bedrooms

# OF UNITS  408

# OF FLOORS  32

# OF PARKING LEVELS 6

ARCHITECT  Nichols Brosche Sandoval

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.

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