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Platinum

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Neighborhood: Midtown-Edgewater

Year Built: 2007

# Units: 119

# Floors: 22

# Parking Levels: 5

ROSS100 Condo Index Ranking +

92

out of 100

COST RATING: +

1.33 out of 5

LIFESTYLE RATING: +

2.75 out of 5

Ross’s Comments – What you Need to Know about Platinum

A low key, boutique building and one of the first to be developed in the last condo development craze in Edgewater.

Other than Cite Condos, Platinum is one of the most affordable and newer condos in Edgewater.

Few units have direct bay views and the majority either face northeast or southeast except for the “01” lines that face directly east.

Although located on the west side of the tower, the sixth floor pool area is relatively open and receives sunlight all day long.

While the immediate neighborhood (Edgewater) surrounding Platinum is experiencing a major new wave of residential and commercial development, it still has quite some way to go before fully gentrifying.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $336

RECENT PRICE/M² $3,617   

MAINTENANCE COST/SQ FT < $0.75

2 BEDROOM PRICE RANGE (2014-2015) $332,000 – $495,000

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UNIT SIZES  828 – 1,692 sq. ft (77 – 157 m²)

UNIT TYPES  1, 2 and 3 bedrooms

# OF UNITS  119

# OF FLOORS  22

# OF PARKING LEVELS 5

ARCHITECT  Fullerton-Diaz

DEVELOPER  Maysville Inc & A. R. Development Group Inc

PET POLICY  2 pets per unit each up to 50 lbs, other restrictions apply

24-Hour Concierge, Valet and Security

Jacuzzi, sauna and steam room

Lap pool

Fitness center and spa

Tropical landscaping

Deli and cafe

Fountain at entrance

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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