As Miami’s real estate landscape continues to evolve, a need for ownership flexibility is driving a new wave of luxury residence developments. Miami has become a premier destination for travelers and part-time residents due to its favorable climate, vibrant cultural scene, continued economic growth opportunities, and international accessibility.
For many, Miami is a Winter weather escape, an Art Basel destination, or a weekend getaway rather than a full-time place of residence. New-age, dynamic real estate investors value experience and flexible ownership more, especially within the lucrative and high-demand short-term rental market.
From international to domestic buyers, there is a major point in common, the need for flexible ownership in Miami’s growing short-term rental market. With short-term rental and luxury residence options on the rise in Midtown and Wynwood, The Rider is the newest addition to the area, enabling owners to participate in dual-use ownership through short-term rental as demand for flexible ownership increases.
The Midtown and Wynwood area’s first truly flexible luxury residences, The Rider, brought to life by a joint venture between Miami-based Rilea Group and Cipres, spearheaded by President Diego Ojeda, emerges as a competitive and attractive new addition, redefining urban luxury and flexible ownership. Located at the south end of Miami’s highly desirable Midtown neighborhood and the east side of Miami’s art district, Wynwood, The Rider sits at the crossroads of all the city’s happenings.
The Rider offers turn-key luxury condominiums, stunning state-of-the-art amenities, and exciting opportunities for potential income. The new development will deliver an ambiance that pays homage to the Hollywood icons of the music and movie industries, immortalized via a curated collection of famous 1970s-era photography from Morrison Hotel Gallery, Iconic Images and art by Marco Grassi in the common areas, and amenity spaces. Each residence will come complete with open living areas, gourmet kitchens with elegant Italian Bertazonni appliances, Dekton by Cosentino countertops, spa-inspired primary baths with Porcelanosa fixtures, smart home technology with keyless entry, all glass balconies, and impact windows. The Rider will also feature a stunning rooftop pool, a cutting-edge wellness center complete with fitness equipment, infrared saunas, multiple cold plunges, and a hammam. An acoustically optimized hi-fi listening room, a toy box with Harley Davidson motorcycles, Vespas, and e-bikes available for rent, a café, restaurant, and even a speakeasy will encapsulate the Miami lifestyle.
Short-term rentals have grown increasingly popular in South Florida in recent years. During the pandemic, between 2021 and 2022, some 58.9 million overnight visitors spent $13.8 billion on vacation rentals in Florida, Oxford Economics said in an economic impact study. Additionally, according to a recent report by The Chamber of Commerce, the average daily rate for short-term rentals in Miami is among the 10-highest markets in the U.S.
As Miami continues to attract visitors from around the globe, the demand for short-term rentals continues to soar. The Rider is ideally positioned to capitalize on this trend, allowing owners the option of full- or part-time living, with the ability to rent their fully furnished residences on rental platforms like Airbnb, VRBO, and Booking.com, or take advantage of The Rider’s in-house rental management service. This dual-use potential not only provides an opulent living experience but also opens doors to lucrative income possibilities.
Today’s buyers are seeking a residence that can evolve with their dynamic lives and needs as well as deliver top-tier luxury living. The ability to rent without restrictions or blackout dates and exercise total freedom over their residence will open the door for a range of buyers and investors with a range of needs and lifestyles to be empowered to operate on their own terms. The Rider Residences embodies the individual and uniquely vibrant energy of Miami while offering buyers simplicity and more room for freedom and enjoyment.
Several economic factors enhance the area’s desirability, including the expected influx of visitors drawn by the upcoming Brightline station and the strong presence of a Whole Foods market, signaling rising desirability and property values in the area. Miami’s calendar is filled with major events that draw crowds year-round, creating demand for luxury rentals. Additionally, an influx of high-income earners relocating from other states is driving demand for upscale living options, further bolstered by the continuous expansion of Midtown and the surrounding areas such as Wynwood, The Design District, and Edgewater, all located just a short walk from The Rider Residences.
As the demand for short-term rental properties in Miami increases, developments like The Rider Residences aim to go above and beyond to seamlessly blend convenience and luxury for buyers and investors. The short-term rental trend in Miami continues to be a major market trend allowing buyers endless opportunity and freedom that fits within their dynamic lifestyles.
The sales gallery is located at 89 NE 27th St, Miami, FL 33137 and they can be reached at +1 786 840 8493, at Instagram @THERIDERRESIDENCES, or website link or contact form below. Sales are exclusively overseen by Cervera Real Estate.
For more information about The Rider or to inquire about purchasing a unit please fill out the form below: