Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Still a bit shocked Chicago didn't make the cut for 2 years in a row. I'm sure there were several sales in the $5-$9M range, $10M is a big number.
And this is also just Compass per the link? Maybe Compass doesn't have a strong hold on the super luxury segment of the Chicago Market? Same could be potentially said for several metros. on there.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,547,418 times
Reputation: 6682
But, yet, Miami doesn’t have anywhere close to the homeless levels (speaking of third world and poverty) of other coastal cities and I’ve yet to see an area as widespread dangerous as the worst areas of NYC or LA (Overtown, Miami Gardens or Little Haiti pales in comparison) nor did it sustain major citywide damage from protests or smash and grab store lootings; in fact crime, including homicide levels, was at its lowest level in decades and bucked the national trend thanks to increased police funding and low unemployment—something one does not associate with borderline third world countries (quite the opposite)—1980’s Cocaine Cowboys/Mariel boatlift Miami was a different story. The worst behavior now usually comes from out of town tourists, especially around a small 4-5 block strip of Miami Beach—touristy Ocean Drive (but not citywide)—during the spring.
It is have v have not—like a number of other expensive coastal cities; best not to settle for median income in that regard. Probably explains why the wealthy are moving here—and not just from South America.
I know Chicago is affordable, but still a bit shocked it didn't make the cut for 2 years in a row. I'm sure there were several sales in the $5-$9M range, $10M is a big number.
Not to get OT, but Miami displays the extremes of the "have v have not" more than any other major American city. Luxury, glam, insane real estate, etc., in some parts, and borderline third world conditions in others.
Last edited by elchevere; 02-14-2022 at 09:25 AM..
Still a bit shocked Chicago didn't make the cut for 2 years in a row. I'm sure there were several sales in the $5-$9M range, $10M is a big number.
And this is also just Compass per the link? Maybe Compass doesn't have a strong hold on the super luxury segment of the Chicago Market? Same could be potentially said for several metros. on there.
You think all these deals were just done through Compass? Hey if you have any sales over 10 million that you can find feel free to post them and stop trying to discount the report without posting evidence. Sneaky sneaky.
Actually Chicago did have only one sale over 10 million?
I wonder why they wouldn’t include Long Island and Greenwich with NYC, and combine all the South FL cities since they are all part of metro Miami/Ft. Laud/Palm Beach. That would put Greater Miami just below Los Angeles.
The crazy part is if you look under the writeups for each market on the report it shows what areas are being included in the fine print and it seems "Greater L.A." means L.A. County, "San Diego" means the county too and the SF Bay Area has a bunch of counties included too, while it looks like Miami Beach, Bal Harbour, Coral Gables, Fort Lauderdale etc literally means the city proper's of those places only. Pretty incredible stuff if true.
Are Miami/Brickell's 10M+ condo sales even included in this? What about all the other cities going north up to Palm Beach County that aren't listed?
Don't know if Chicago not making this list is good or bad. I mean Philly made it, and its regularly named the poorest major city in the nation.
That's not really relevant considering Miami (city & metro) has higher poverty rates than Philadelphia (city & metro), yet leads the nation is super lux sales. Most major US cities have super rich and super poor within close proximity.
For example, there is a $25M condo for sale in Rittenhouse Square, and 3 miles North is the poorest zip-code in Philadelphia. Plus, these numbers appear to be metro wide.
Miami displays the extremes of the "have v have not" more than any other major American city. Luxury, glam, insane real estate, etc., in some parts, and borderline third world conditions in others.
The crazy part is if you look under the writeups for each market on the report it shows what areas are being included in the fine print and it seems "Greater L.A." means L.A. County and the SF Bay Area has a bunch of counties included too, while Miami Beach, Bal Harbour, Coral Gables, Fort Lauderdale etc literally means the city proper's of those places only. Pretty incredible stuff.
Are Miami/Brickell's 10M+ condo sales even included in this? What about all the other cities going north toward Palm Beach County that aren't listed?
Right? Very strange they’d list LA as metro wide yet split up South FL’s cities, all of which are part of one metro.
Either way, very impressed with South FL’s performance here (yet I guess unsurprising given what’s happened there in the past two years).
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,547,418 times
Reputation: 6682
And equally important many Miami (city/metro) residents, long time or newbie, are benefitting from this importation of wealth via increased and higher quality amenities—restaurants, arts, even more retail, etc—that wealthy property owners demand and attract.
Article is a year old but still relevant. Heck, NYC’s Major Food Group (Carbone) is expanding into real estate and will have several restaurants in their new proposed Brickell condo project. London’s Sexy Fish just opened their first US venture here the other week and Paris’ Raspoutine the other month.
This is not to take away from the wealthy enclaves in NYC, CA and elsewhere but Miami has been discovered/secret is out by more, especially the wealthy US market—not just wealthy Latin Americans, in recent years and is no longer (as) undervalued relative to other prime coastal cities. This began under the Tax Cuts and Jobs Act (limiting SALT) and exploded under Covid.
Quote:
Originally Posted by kidyankee764
Right? Very strange they’d list LA as metro wide yet split up South FL’s cities, all of which are part of one metro.
Either way, very impressed with South FL’s performance here (yet I guess unsurprising given what’s happened there in the past two years).
Last edited by elchevere; 02-14-2022 at 10:04 AM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
