Nestled away in the heart of Miami lies Bay Harbor Islands, a hidden waterfront gem brimming with natural beauty and tranquility. Currently home to 5,938 residents, Bay Harbor Islands, incorporated in 1953, is located within close proximity of Bal Harbour Shops, beaches and several boating destinations. The east side of the island is home to luxury condominiums and residential living; residents have access to world-class dining, luxury shopping and A-rated schools on the west side. With its own police department and government, Bay Harbor Islands is one of Miami’s safest and most prestigious towns. The prime location of Bay Harbor has resulted in the area’s rapid real estate growth, amassing a collective investment of over $150 million on land for residential developments; the area quickly drawing the attention of both new-to-market residents and existing homeowners seeking to move.
With a steadily growing demand for real estate in Bay Harbor Islands submarket, developers have flocked to the area to begin a reconstruction revolution. As such, one of the area’s newest planned luxury developments, La Baia North, a boutique bayfront condominium, has recently launched sales for its exclusive collection of residences. The project, developed by New York visionary Ian Bruce Eichner of The Continuum Company, is serving the increased demand for real estate in Bay Harbor. The project, comprising 57 residences, ranging from 1,400 to 2,100 square feet and featuring resort-style amenities, is a culmination of several industry leaders coming together and producing a top-of-the-line product. La Baia North will feature exquisite architecture by the internationally acclaimed Luis Revuelta, un-rivaled landscapes and pool design by the renowned C. Wright Studios, luxurious interiors by Durukan Design and will be built by Suffolk Construction.
Under the direction of developers and real estate investors garnering interest in Bay Harbor’s pristine location and serenity, Bay Harbor is quickly transforming into a luxurious neighborhood. Bay Harbor has witnessed the explosion of big business migration to the Miami region, and with many new residents seeking an escape from traditional, big city environments and looking for less dense locations to live in and commute from, Bay Harbor is becoming the ultimate oasis. The appeal has reeled in developers wanting to claim capital in the South Florida market; accordingly, there are almost a dozen projects being planned for Bay Harbor Islands, totaling nearly 400 condos and apartments. Onda Residences, a boutique bayfront condominium with the mission of being a living oasis inspired by the colors and shapes of the sea, is a project from Ugo Colombo’s CMC Group and Morabito Properties; the condominium will have more than 300 bay frontage and a 16-slip private marina. Menachem Kranz, co-founder and partner at Allele Capital, purchased an existing condominium at 9110 West Bay Harbor Drive in May and is planning to develop an eight-story, 10-unit Kobi Karp-designed luxurious condominium. Clara Bay Harbor is a new project from Clara Homes that is set to be a 150-unit three-building development at the following sites 10200 through 10290 East Bay Harbor Drive, 1147-1163 100th Street, 10281 West Bay Harbor Drive. Alana Bay Harbor Islands, an up-and-coming 30-unit, seven-story development from Chile-based Ambienta Developers, was acquired by Alta Developers in May and is on track to continue pre-selling units.
The emergence of several new luxury condominiums in Bay Harbor has sparked an attraction among buyers to the submarket, unearthing Miami’s hidden waterfront gem. Compared to mainland Miami, Bay Harbor is a quaint oasis, posing as a serene small town within a giant city. This suburb is home to many boat owners and features several waterfront properties with decks. Bay Harbor makes up less than half of a square mile, yet the small suburb, located a short 20 minutes from Miami International Airport and 30 minutes from Downtown Miami, is pulling in large crowds of people, marking it as one of Miami’s next hottest submarkets.