I own in south of fifth which is the last 5 streets 1-5 in south beach. South beach itself is a ghetto POS full of tourists and just ghetto people. South of fifth is where you have the best condos in miami: apogee,continuum,ocean house,one ocean, etc. The price difference once you cross 5th street can be 2x or more up to $4000/sq ft at something like the apogee vs as much as $700-800 a sq ft on say 15th street.

Property values in miami beach have more than recovered, up to 200% off the lows in most of the ocean front premium buildings. The less desirable buildings are still up close to 100% from the 2010 lows. Miami is struggling with a lot of south american cash now, but most condos are paid for in cash so struggling means no buyers but no foreclosures or very few.

As for food, again south of fifth is where it all is, all the best are withing a 2 block radius: prime 112,milos,joes stone crab,il mulino,prime fish,prime italian all are on 1st street between ocean and alton which is why I love my area, I fly in town and I dont leave the neighborhood. Miami downtown is booming but the traffic is miserable, south beach is a shiteshow in terms of the crowd, and sunny isles is just all russian mobsters. South of Fifth is just a perfect area and tourists dont really venture over bc everything is so expensive, thats why they like ocean drive from 5th to 15th, once you cross 5th those $9.99 dinner specials vanish and oddly enough the ghetto people do too.

MIami imo is on the cusp of being a new manhattan, seriously trading is all done via computer and you cant beat year round great weather and no state taxes. South of Fifth is just money in the bank, the area is just 5 blocks so it will always imo be the best area in town just bc of the condos there, if you want miami property i highly suggest SoFi and no other area as an investment.

This post was edited on 5/17/16 at 7:09 pm