254-Unit Nexo Residences Launches In North Miami Beach, Allowing Short-Term Rentals

Another development allowing short-term rentals has launched sales, this time in North Miami Beach.

Nexo Residences is planned to be built at 13899 Biscayne Boulevard.

The property will include 254 residences, which will be delivered fully finished and turnkey.

Prices start in the $400,000s, with units sizes ranging from about 525 to 2,190 interior square feet.

Owners will be permitted to rent their units on a short-term basis without restrictions.

Fortune International Group and Blue Road are the developers.

Frankel Benayoun Architects is designing the project, with consultation from architect Carlos Ott. Interiors, common areas, and landscaping are being designed by Urban Robot.

 

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BB1
7 days ago

I just personally would not want to live in a building that allows no restrictions on short term rentals. It’s a lawless state! I prefer a quieter building that I can still walk out and be in the action.

Ciparoo
7 days ago

No one will live here, it will only be for short-termers

Melo is sigma and chad
7 days ago

I mean some people live in buildings that are mostly short term rentals but also air bnb their place when they’re out of town.

Anonymous
7 days ago

“I just personally would not want to live in a building that allows no restrictions on short term rentals”

I wonder why some people tell us what they prefer like we giveashit?

Anonymous
7 days ago

What!.. that condo building will have a KFC by it?!!!

Okay, I’m sold.

Anonymous
7 days ago

Didn’t the mayor announce a state of emergency for housing. Is there anything the can do immediately to change code/zoning to restrict these short term rental buildings.

Qtip
7 days ago

Short term rentals aren’t the problem, a massive influx of new residents due to Covid is. So long as Miami keeps building the problem will be gone. The biggest problem with this build is that it’s only 250 units instead of 500.

Anonymous
7 days ago

massive influx of new residents….tell that to the US Census and the local public school system…Miami not even on list of Penske’s top 10 moving destinations….it’s investor money and speculation

Anonymous
7 days ago

Investors doing what? Owning a condo and doing nothing with it? There are multiple academic papers showing that doesn’t really happen except at the higher end of the market (think 10mil+). Investors rent out condos….more condos rented out means rent will eventually fall. The major issue right now is demand is through the roof, so we need to zone for higher density in the areas around downtown and build more its that simple.

Checo
7 days ago

Almost totally correct.
Except, in many of the mom & pop apartment buildings (think about the 12 to 24 unit buildings) where a studio would cost $800 and a one bedroom would cost $1,000 per month for workers on annual leases, those LL’s are renting for $125 per night on AirBnB for 20 out of 30 nights and making double of what they would have made renting to someone who needed an annual and affordable lease.

There are hundreds of these buildings, just open your app and see what’s available tonight….odds are, twice as many have already rented and aren’t available tonight.

Anonymous
7 days ago

There are over 200k homes in Miami city (this is excluding areas such as coral gables, Dural, etc) I just did a search for Miami city on Airbnb filter the price to a max of $150 a night and came up with 931 results. That is less than 1% of the housing stock “owned by investors” that’s not moving the needle much. The biggest driver of increasing rent prices is lack of inventory which means we need to build more…that’s it. I know everyone wants to point to some bad guy and blame them but its as simple as just build more.

Jen.
7 days ago

I’m very concerned about the extortionate Rents are in North Miami. It’s pricing people out who have lived here for years. We must find a way to Stop the “Greed”. Most people who currently live in the area earn less than 40.000 PA. I would have been in favor of these developments if they were more affordable to Rent, I know they won’t be and people who can afford them will not want to live in the area.

Anonymous
7 days ago

No city has done more to combat “greed” than San Francisco which has delayed condo builds for years if there isn’t affordable housing units in the building. This has led to SF being the most unaffordable city in the US for well over a decade now. If you stop the “greed” then soon people making less than 80k won’t be able to afford living without a roommate, just like techbros in SF are forced to do.

gravy train
6 days ago

lotta those builds in the urban core are at best 50% occupied at any time..tons of units just sitting….look up any sunday night and admire how many dark units you see….nobody home=nobody supporting local business

Checo
7 days ago

Short term rentals are part of the problem for sure.

replying to Anonymous
7 days ago

If they are building short term rentals, is due to the demand.
Rents are not going to stabilize, since any new building is target for luxury building with luxury amenities. HOAs is these new buildings are in the $1,000 ‘s so it makes sense that rents keep going up.

Anonymous
7 days ago

Rents ARE going to stabilize, but for bad reasons

Anonymous
7 days ago

You realize new luxury buildings help keep prices lower right? Rich people will always have enough money to buy a place. When they buy a newer luxury place it means they aren’t bidding up the prices on average housing (SF is a great example of this where a crappy townhouse from the 60’s cost well over 2 mil). Rent is mostly going up cause of demand, deal with the demand and the prices will fall, most density and construction is needed.

Azarius
7 days ago

A LOT of ppl are buying Miami just as investors for short term rentals. Leaving ppl who need housing to live short as well they are driving the price up on the airbnbs and homes

ParkingHater
6 days ago

Lot of y’all never took Econ classes in college and it shows

Anonymous
6 days ago

^
Haha.. written by the person who says – “y’all”

Anonymous
6 days ago

Just visit NextDoor and you’ll see what’s wrong with AirBnb everywhere.

Anonymous
6 days ago

Well, somebody is making money off of them, so they don’t worry or rely on people like you.

Miamiistrash now
6 days ago

Pure garbage. Miami is the new California. This place used to be great to live. Now it’s just a mess.

Tony
3 days ago

So you liked how downtown looked like? Shake your head!

Anonymous
7 days ago

I like it. More like this in interior lots of Edgewater, and along major streets in Little Havana and Allapattah (except this retail at the bottom), please.