Miami Beach Loft Condos - Open Living Environment • Miami Beach Real Estate Blog

South Beach & Miami Beach lofts were almost unheard of until the real estate boom from 2002 to 2005. As developers looked for something fresh and unique, the loft craze took off and still only makes up a small fraction of Miami condo inventory. Initially popular with artists, they are now highly sought-after by others looking for open “creative” space. Unlike the normally boxed condominium, a loft condo is a 2-story adaptable open space created for residential use. While some of these loft units were created by developers while renovating old buildings, such as those found in Downtown Miami, some are brand new mid-rise developments as seen along the Miami beaches.

The loft term was used loosely in 2003, with loft condos becoming difficult to acquire and typically priced over $500,000, while today, they begin as low as $275,000. Loft-style refers to an open space with high ceilings and typically only 1-story. At the same time, a traditional loft is a 2-story floor plan usually opened up from the living room (as seen below), exposing the upper or lower areas. A Miami loft is not to be confused with a townhome with open areas enclosed, adding additional interior space yet having stairs leading to the residence’s upper level. Both types of lofts offer buyers or tenants proximity to urban amenities afforded by traditional lofts but without the perceived safety risks of living in economically depressed, formerly industrial areas. Below we will explore Miami Beach loft condo inventory and the differences from South Miami Beach up to the island of North Bay Village and North Beach (NoBe) in no particular order.