Address: 50 South Pointe Drive, Miami Beach
Neighborhood: South of Fifth
Year Built: 2008
# Units: 213
# Floors: 40
# Parking Levels: 2
Ross’s Comments – What you Need to Know about Continuum North
Developed as phase two, the North tower was built in 2008 at a cost of $190 million, and includes 199 tower units, 14 townhomes and cabanas, plus 24,000 sf of mixed retail space.
The North tower is clearly distinguishable by its several vaulted portals on the top of the building.
Fully gated community flanked by South Pointe Park to the south and the beach to the east. Residents have direct access to the beach and park.
The exclusivity and design of the project achieved the highest sales per square foot in South Beach at the time it was developed and realized sales volume of over $600 million.
North and South tower share 12 acres of resort type amenities, including two lagoon style pools, 20,000 SF spa and fitness center, 3 clay tennis courts, lap pool, restaurant, all on 1,000 feet of beach frontage.
BUILDING QUALITY
MANAGEMENT
LOCATION
RENT FRIENDLY
ACCESSIBILITY
FINANCING
DESIGN & EFFICIENCY
AMENITIES
WALKABILITY
PET FRIENDLY
PARKING
SECURITY
RECENT PRICE/SQ FT $1,558
RECENT PRICE/M² $16,770 SEE PRICE HISTORY
MAINTENANCE COST/SQ FT $1.00 – $1.49
2 BEDROOM PRICE RANGE (2014-2015) $2,450,000 – $2,960,000
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UNIT SIZES 1,491 – 3,030 sq. ft (139 – 282 m²)
UNIT TYPES 1, 2, 3, 4 and 5 bedrooms
# OF UNITS 213
# OF FLOORS 40
# OF PARKING LEVELS 2
ARCHITECT Sieger-Suarez
DEVELOPER Bruce Eichner
PET POLICY Unit owners may have 2 pets, other restrictions apply
24-hour concierge, valet & security
1,000 feet of private beachfront
12 acres of resort type amenities
Full service beach club
20,000 sf spa & fitness center
3 clay tennis courts with pro shop
Outdoor landscaping designed by Bradshaw, Gill & Associates
Infinity edge lap pool & 2 lagoon style pools
8 foot, solid wood, interior doors
10 foot ceilings
Private & semi-private elevator foyers
Oversized balconies with glass railings
SOUTH OF FIFTH
As with many of Miami’s historic neighborhoods, the South of Fifth “SoFi” neighborhood in Miami Beach enjoyed its heydays in the 1950′s. Miami Beach had a reputation as the “American Riviera” with its beaches, hotels, tropical weather, mobsters and star power. However, the area was ethnically divided with SoFi as home to a thriving, mostly Jewish community, while the areas to the north and even some hotels had little tolerance for diversity. A number of hotels had “restricted clientele” rules and some properties transferred with deeds prohibiting “Hebrew blood.”
By the 1970′s, however, SoFi had become a haven for Jewish retirees and the younger generation stopped moving in. As the area declined, the city formed what was known as the “Committee to Keep Greater Miami Beach Young.” In an effort to eliminate most of the structures south of Fifth Street, the city created the South Shore Redevelopment Area in 1973. The city leader’s imagined that the $400-million plan would completely revitalize the area. Unfortunately, it all but guaranteed the area’s decline.
Many theories exist as to why the plan failed so dismally, but clearly it influenced property owners to stop taking care of their existing buildings. As the neighborhood was so cheap, it attracted the poor and crime and drugs became rampant. Unfortunately, things continued to get worse and it was not until the mid 1990′s that interest re-emerged to invest in the SoFi area.
Today the SoFi neighborhood represents the success that major redevelopment can produce. The area is very safe, it boasts a highly ranked elementary school, South Pointe Park, many successful businesses, restaurants, hotels, nightclubs and some of the most expensive real estate in Miami. Every weekend the beach is packed with locals and tourists. There are several iconic luxury condo projects in the SoFi area, including the Apogee, Murano Grande, Icon, Continuum North and South, Portofino Tower, Murano at Portofino, in addition to several currently under construction.
