Address: 110 Washington Avenue, Miami Beach
Neighborhood: South of Fifth
Year Built: 2004
# Units: 223
# Floors: 8
# Parking Levels: 2
Ross’s Comments – What you Need to Know about Cosmopolitan
Designed as a typical low rise condominium that occupies a full block, the Cosmopolitan consists of two adjoining buildings of 6 and 8 stories that connect via a courtyard pool and other outdoor space.
The Cosmopolitan offers a very walkable location in the South of Fifth area with several retail stores, well known restaurants (Joe’s Stone Crab, Milos, Big Pink, Prime 112 etc.), shops, plus the beach all within a block or two.
Other features that our clients love about this building include the courtyard pool, secure lobby and building, plus ease of access from several points.
Building 1 on the south side of the community is two floors higher than Building 2. Terraces tend to be on the smaller side with the corner units offering the most expansive balconies.
BUILDING QUALITY
MANAGEMENT
LOCATION
RENT FRIENDLY
ACCESSIBILITY
FINANCING
DESIGN & EFFICIENCY
AMENITIES
WALKABILITY
PET FRIENDLY
PARKING
SECURITY
RECENT PRICE/SQ FT $578
RECENT PRICE/M² $6,222 SEE PRICE HISTORY
MAINTENANCE COST/SQ FT < $0.75
2 BEDROOM PRICE RANGE (2014-2015) $647,000 – $925,000
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UNIT SIZES 686 – 1,247 sq. ft (64 – 116 m²)
UNIT TYPES 1 and 2 bedrooms
# OF UNITS 223
# OF FLOORS 8
# OF PARKING LEVELS 2
ARCHITECT Maurice Salazar
DEVELOPER Groupe Pacific
PET POLICY Pets are allowed, subject to restrictions.
24-hour security & concierge
Covered and secure parking beneath the building
Heated resort pool and jacuzzis
Fitness center
Social room
Valet parking
Landscaped courtyard
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.
#8 PARAMOUNT BAY |
#4 ST REGIS |
#1 APOGEE |