I have been hearing about Sunny Isles as a place where a lot of condo hotels are cropping up. What are the pros and cons of buying a condo hotel unit in Sunny Isles, and what is its connection to Miami Beach?
Sunny Isles is a hot market because so much of Miami Beach has been bought up and developed already. Therefore, developers have been finding the land they need to build new properties just north of Miami Beach in Sunny Isles. The Sunny Isles area where a lot of development is now going on used to be called Motel Row, with dozens of 50-300 unit motels, one right after another. Today, there are quite a few 5-star high-rise condo hotel properties going up in their place, and real estate values are taking off. This area is ideally suited to vacationers due to its wide beaches and easy access to Aventura Mall and the prestigious retail center The Shops of Bal Harbour. It is also only about a 30-minute drive to trendy South Beach.
The above question was submitted via e-mail by a visitor to www.condohotelcenter.com. The answer was prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units and fractional ownerships in private residence clubs.