by Michele Marin
High-rise condo buildings may tower over the Miami skyline, but there’s a sexy new trend in real estate that has residents and developers lowering their gaze. The new generation of condos, dubbed “boutique” by Realtors and investors, typically house anywhere between six and 35 units—a far cry from massive developments boasting upwards of 500 units. So, why the shift?
Similar to single-family homes, boutique condos are the next logical step for those looking to downsize, allowing them to forgo some of the burdens that often accompany owning a house. Moreover, unlike larger buildings, boutique condos are truly residential, meaning, there are no restaurants, shops or offices in the building, says Alirio Torrealba, CEO of MG Developer, which has several boutique condo buildings in the works—including the highly sought-after Beatrice Row and Biltmore Parc in the heart of Coral Gables.
Beatrice Row, for example, which features just nine townhome-style residences, embodies classic European design with exceptional coral stone details, handcrafted bronze-finished balconies and large terraces complete with built-in gas kitchens, perfect for sipping a sparkling glass of Champagne and mingling with friends. Step inside to find ideal natural lighting thanks to impressive floor-to-ceiling windows. Further defining the lavish lifestyle, private residential elevators make for exclusivity, while the kitchen, endowed with Thermador appliances, Carrara marble countertops and European oak cabinets, will delight even the most tenured chef.
“Beatrice Row, which faces Anderson Street, is about 100 feet deep, making for a truly residential feel,” says Daniel Guerra, vice president of development sales for Fortune International Realty, which is working with MG Developer on the project. “Residents looking for new construction, true luxury, upscale finishes and even a four-car garage—without the headaches of owning a single-family home—will be swept away by Beatrice Row.”
MG Developer’s other property, Biltmore Parc, offers a more contemporary feel. Its sophisticated, clean lines and modern architecture are evident everywhere you look, from the tranquil, spa-inspired bathrooms to the walk-in laundry rooms and custom-crafted kitchens equipped with stainless-steel appliances. NanaWall folding glass walls allow for copious amounts of natural light to parlay through the open floor plans, while each of the 32 residences has private elevator access from the posh Vincenzo Avanzato-designed lobby to its foyer.
Another reason for the shifting trend? Boutique buildings offer a buffer when it comes to costs. Developers are shielded from shelling out large amounts of cash and are assuming a less risky investment, which means residents aren’t left wondering how long it will take to gain occupancy. Add on the exclusivity of a limited number of units, and resale values become even more enticing to potential owners. And with state-of-the-art amenities, luxurious finishes and sought-after locations, boutique condos aren’t just selling, they are a hot commodity. [read more]