South of Fifth
South of Fifth
South of Fifth is a sub-neighborhood of the vibrant South Beach community, and one of Miami Beach’s most desirable residential developments. This beautiful oasis is surrounded by water on all sides, providing residents with the best access to the highly coveted Miami Beach resort lifestyle.
South of Fifth is home to some of the most luxurious condominium properties in all of Miami. Popularly known as SoFi, the neighborhood is blanketed in these stunning mid and high rises that provide amazing views andcome with upscale amenities.
SoFi residents never have to go far for entertainment and recreation. The neighborhood features one of the most beautiful parks in the US, as well as a full concierge marina that gives you the luxury of simply walking from your home to your yacht.
SoFi is also home to some of the best restaurants in the world, and is just minutes away from the eclectic attractions of South Beach and the topnotchlifestyle destinations of Downtown Miami.
Location
South of Fifth occupies the southern tip of Miami Beach, and got its name from its location just south of Fifth Avenue in the neighborhood of South Beach.
Real Estate in South of Fifth
Average Land Area/House Square Feet
SoFi condos range from around 200 square feet to over 7,800 square feet, with an average of approximately 1,307 to 1,556 square feet.
Common Property Types or House Styles
SoFi is home to luxurious beachfront condos, including multimillion dollar penthouses. There are several villas and midrise condos and apartments, as well.
Average Market Pricing
The average price per square feet in SoFi is around $1,500, and the average listing price is about $3.7 million.
Common Design, Construction, or Architectural Types
Real estate in SoFiis mainly composed ofbeachfront residential towers with as many as 42 stories, as well as midrise condominium buildings. Some properties are condo-hotels, which are centrally managed and rented out on a short term basis.
SoFi condos are nothing short of ultra-luxurious. Ranging from studios to 8 bedroom suites, these properties boast high ceilings, top of the line finishes, and large glass windows that let the stunning views in. The highest priced properties are penthouse suites with spacious living areas of up to 7,000 square feet or more, and featuring amazing views and expansive patios or outdoor spaces.
Properties in SoFi come with top of the line amenities, including resort style swimming pools, poolside bars and restaurants, tennis courts, gyms, and more. Many condo properties come with marinas or docks where residents can anchor their watercraft.
Notable Homeowners
Famous and notable personalities who have lived in SoFi include Miami Heat president Pat Riley, hockey superstar Sergei Fedorov, actor Michael Caine, and tennis star Anna Kournikova.
Living in South of Fifth
General Cost of Living
The cost of living in South Beach, FL is 66.4% more than the national index and 63% more than the Florida average. With luxury condos dominating the real estate market in the neighborhood, housing costs here are considerably higher than in most of the country.
Employment/Job Opportunities
The average household income in South Beach is around $104,613, nearly twice that of the country. The highest earners in the community are in finance, wholesale trade, real estate, and healthcare.
Weather
On average, the South of Fifth area gets 233 days of sunshine a year. The hottest month is July, with an average high of around 90 degrees. The coldest month is January, with an average low of 51 degrees.
Restaurants
South of Fifth is home to some of the top restaurants not only in the country but in the world. These includeJoe’s Stone Crab, which is considered South Beach’s most historic restaurant. Other five-star dining destinations in the neighborhood include:
Schools
South of Fifth is served by Miami-Dade County Schools. There are also numerous private schools in the area.
Transportation
Residents drive their own cars to get around. The neighborhood’s main arteries are Alton Road and Washington Avenue, which lead to 5th Street and connect to MacArthur Causeway and A1A.
Parks, Recreational Activities, and Attractions
South of Fifth’s South Pointe Parkis the neighborhood’s centerpiece. Occupying 17 acres of land at the southernmost tip of South Beach, the park features amazing panoramic views of the Atlantic Ocean, as well as Downtown Miami and Fisher Island. It also boasts walking and biking tracks, splash parks, and playgrounds, as well as a scenic observation deck, notable sculptures, and the neighborhood’s world-famous restaurants.
South of Fifth residents also get quick access to Miami Beach Marina, where boat and yacht owners can anchor their vessels and get full marina services. The facility also features other water activities, such as jet skiing, surfing, and kayaking.
Downtown Miami, with its host of cultural, recreational, and entertainment options is just less than 15 minutes from South of Fifth via MacArthur Causeway and A1A.
Is South of Fifth the right neighborhood for you? Let The JillsZeder Group help you navigate this highly sought after real estate market and find the perfect home. Get in touch with the team at 305-722-5721 or 305-341-7447 to get started.