Miami’s Upper East Side, the trendy neighborhood located along Biscayne Boulevard, has remained relatively untouched during the luxury condo boom in Miami and surrounding areas. Until now. Developers, Unitas Group Development, are gearing up for the sales launch of a new 105-unit mixed-use project, Boulevard 57.
The project, located at 5700 Biscayne Blvd, will feature 45,000 square feet of retail and commercial space on the ground floor. Prices for residential units will start at $600,000 for a 1,120-square-foot one-bedroom apartment, with two, three and four bedroom residences available for up to $2.7 million. Most residences will include open-concept contemporary floor plans, 10-12 foot ceilings, 7-10 foot deep terraces with glass railings, summer kitchens, private and semiprivate elevators, state-of-the-art Italian kitchens, and smart automated home technology. Building amenities will include landscaping design by ESG2, pool deck with infinity edge pool, hot tub, cabanas, grill and bar area, fitness studio, 24-hour valet parking, residents lounge and children’s play room.
The launch of sales at Boulevard 57 is occurring at an unconventional time, according to a recent article from The Real Deal. With slowdowns in European and Latin American interest, Developer Hector Torres says his project will be geared towards locals. Securing a unit requires a 50% deposit structure, a practice many feel is most attractive to foreign buyers. But Torres thinks that American investors aren’t has hung-up on traditional financing as they once were.
“A lot of the domestic buyers are paying that today in other developments,” stated Torres. “The demand is strong. Buyers love the walkability of the neighborhood, the schools and the proximity to downtown Miami [and] Brickell.”
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