How is the upper east side as a neighborhood. The prices seem good, looking for investment/second home

Asked by Riv, Upper East Side, Miami, FL Fri Jul 10, 2009

property. How is the rental market there? I see the Nirvana bldg. Does anyone know about that? and HOA fees? Thank you.

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Donna Anders…, Agent, Miami Beach, FL
Mon Mar 30, 2015
The upper east side is growing extremely fast. There are still many single family homes.
Building that allow multiple rentals would benefit you most. There are many units that are already rented and the leases end shortly -- you can buy while occupied. Visit and then re rent.

Hoas differ drastically by pp square foot and the amenities of the building.

I have many opportunities you may be interested in. Thanks.
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Ian A. North, , Miami Beach, FL
Sat Jul 11, 2009
The upper east side is a great neighborhood for the rigth type. Prices are good and thier are good buys to be had. Nirvana was one of the first cond conversion to go on the market in early 2005. Bumpy road! Give me a call, I know the area well.
Ian A. North
305 467 1881
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Diane Loveri…, Agent, Pompano Beach, FL
Fri Jul 10, 2009
Hi Riv,

I live just outside the Design District and often run or bike through the nearby Upper East Side. It has a nice sense of community that you don't find much anymore. And I agree, the neighborhood is definitely up-and-coming. Restaurants and shops filling in the Biscayne corridor, the Design District and even Wynwood, are creating a new surge of excitement. Check out the Biscayne Times - link below - for more inside scoop.

When I first moved into my home, I was burglarized within two months. But that was five years ago, and in my opinion things have improved since then. Note too that some sections of the Upper East side have a manned guard gate. The guard only takes down license plates, but I am sure that is a visual deterrent to some would be troublemakers.

As for Nirvana, I would advise caution. I don't want to go into details on a public forum, but if you get in touch I can fill you in.

I would love to help a potential new neighbor find a home in our community, so feel free to contact me. Thanks!

Diane Loveridge
Majestic Properties
(786) 210-3449
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Audra McColl…, Agent, Miami, FL
Fri Jul 10, 2009
Hi Riv,

The Upper East Side is a very nice area, but it's probably not for everyone. My husband and I lived there several years ago and then moved a little farther north to buy our home. The area has been considered 'up and coming' for many years and it's proximity to the Wynwood Arts District, Design District and Performing Arts Center, as well as the beaches, makes it an ideal location for enjoying so much of the arts culture that Miami has to offer.

As far as Nirvana goes, there are several units considered 'distressed' (short sale/foreclosures) and many others available for sale. It may be difficult to find financing. However, the community has a swimming pools, a nice gym and plenty of residents, so it's not like a 'ghost town' feeling or anything. I think it's popular with renters who work in the area and can't afford South Beach...also, with the nearby colleges you will find plenty of students renting there.

You may also want to consider that as an 'up and coming' neighborhood it has seen its share of crime. You might like to compare it through the police dept. to other areas when making your decision. However, I would say it has great nightlife (especially restaurants), nice parks and good boutique shopping - and I'd live there myself - it just depends on your personal feelings, whether you enjoy that kind of edgy vibe or whether you prefer a more developed, traditional neighborhood.

I hope this helps. Condo fees at Nirvana run in the $350-450 for 2/2 and $150-$225 range for 1/1. You can also get some nice bay views from some of the units. Regardless, you should come check out the area - you may be pleasantly surprised. I'll be happy to provide you with more details on Nirvana and other properties in the neighborhood. Feel free to contact me!

Best regards,

Audra McCollum
Director - Luxury Division
Interinvestments Realty, Inc.
786-326-1323 cell
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