South Beach for Sale
The cranes nearly outnumber the bikinis on Collins Avenue, as new real estate opportunities keep cropping up. Here, three to watch.
The Tides (305/503-2146; TidesSouthBeach.com) is getting a makeover (think coral accents and zebra print in abundance) from Kelly Wearstler, of Bravo's Top Design fame. Suites and rooms are condo-hotel units—meaning when you're not using yours, it's placed in a rental program, earning money: investors receive 70 percent of the total rental profits.
Todd Oldham gave Miami landmark The Fairfax (305/324-7329; FairfaxSouthBeach.com; fractionals from $250,000) a more masculine, but still retro-chic renovation; the 49 units are selling as quarter fractionals, with each owner guaranteed 13 weeks per year.
Ritz-Carlton Club and Residences, South Beach (800/278-0121; RitzCarltonRealEstate.com; whole-ownership apartments from $700,000) has added a second tower to its residences. The understated units, ranging from 900 to 2,400 square feet, are geared to those who prefer a more traditional look—camel-colored walls and nautical-inspired linens—over the splashier Art Deco designs that hug the boardwalk.