History

 

Millionaires Row is a much-desired stretch of real estate in Miami Beach. John Collins a farmer at first chose this bug-infested swampland between Miami and the ocean to grow coconuts and vegetables. He failed as a farmer but excelled as a land developer forming the Miami Beach Improvement Company in 1911 and began building a bridge across Biscayne Bay. During bridge construction, funds were running out and Collins, in exchange for 200 acres of land, obtained a loan from automotive pioneer Carl G. Fisher.
Opened in 1913, the wooden bridge (now the Venetian Causeway) provided the critical link to Miami. Miami Beach grew quickly including massive beachfront estates. However, in the 1950s, new construction began concentrating on apartment/condo development.

Description

Millionaires Row is an exclusive stretch of sun, sand, and surf situated along Collins Avenue from 22nd st to 62nd st. It is bound by North Beach above 62nd st, downtown Miami Beach and South Beach below 22nd st, Indian Creek on the west, and the Atlantic. It is, as the name implies, home to some of the most expensive real estate in Miami-Dade County.
For some the area is limited to the expanse from 41st to 62nd streets because at 22nd st Collins Avenue becomes one way northbound following the beach and the southbound lanes become Indian River Road. This results in a one-block wide strip of land without a beachfront becoming less expensive property.

Residents

Millionaires Row is home, often summer or retirement, to some of the world’s most affluent and often famous people. Of course, there are no census figures for the neighborhood. However, according to statistics for Miami Beach, assuming growth since the 2000 census, there are about 89,000 people residing in the city. About 40% of the residents are ages, 20% are ages 45-65, with another 20% at 65 and over. Under the age of 18 comprise 13% with only 8% from 18 to 24. The median age is 39. Over half the population speaks Spanish as a first language.

Rental Housing

The vast majority of Millionaires Row Miami rentals are luxury condominiums (pools, health clubs, balconies, playgrounds, and much more).These rentals are priced at $1.80/sq ft to $3.00/sq ft. The $1.80/sq ft to $2.40/sq ft Miami rentals are often along Indian Road and/or do not provide an ocean view and/or beachfront. The $2.50/sq ft to $3.00/sq ft Millionaires Row Miami rentals include ocean views, beachfronts, and gating. Most three bedroom/3 bath units fall in this range. For single homes, Miami rentals are priced somewhat lower across the Indian River where a few homes and condominiums fall to as low as $1.30/sq ft. Most "single" homes in Millionaires Row Miami are usually large multi-bedroom estates renting at $3.00/sq ft and above.

Fun Stuff

With its central location and convenient access to all parts of the city, residents of Millionaires Row Miami enjoy plenty of for shopping, dining, and multi-cultural entertainment. The nearby docks on Indian River provide Ocean access for boaters and the beaches offer all the water sports. The Miami Beach Golf Course and other courses provide excellent facilities for golfers.