The condos at Quadro Miami Design District, developed by Alta Developers, feature over 25 residences that are listed for short-term rentals and extended stays via nomadaresidences.com, the in-house property management company, as well as on other reputable platforms.
Over the past three months, Nomada Residences reported record-breaking average occupancy rates of units at Quadro of over 80% for studios, 92% for 1-bedrooms, and 88% for 2-bedrooms, with average nightly rates between $180 and $300 per night. Reported revenues for these also surpassed more than two times the revenue over a long-term lease, which is usually 12 months or more.
“I truly see the potential for developments with flexible ownership like Quadro, especially now that we are seeing more and more people relocating to South Florida, mostly from the Northeast. Some don’t have a long-term plan in mind yet, and that’s when we come in with the ideal product for them,” said Raimundo Onetto, Alta Developers’ Principal & CEO.
According to the short-term rental manager, around the beginning of 2020 in March, the units at Quadro were fully booked until cancellations started coming in around Mid-March when COVID-19 hit South Florida. Later on, the City of Miami completely shut down hotel and short-term operations until the quarantine was lifted in June when short-term rentals started picking up again. Domestic snowbirds from the entire East Coast started heading to Miami to get out of the cold weather and even stay for a few months. Even though rentals started to pick up, there was a curfew in effect up until December, which kept occupancy rates lower than during normal times at around 50% average for studios, 1-bedroom, and 2-bedrooms at Quadro Miami Design District.
“Quadro has become a preferred destination for all sorts of guests, both short-term and for an extended period, including young professionals that want a change of scenery and a nice place to work out of, group of friends, and a few families here and there, all the way from South America to West and East U.S., “ the Manager said.
Quadro Miami Design District buyers can purchase a condo and hire Nomada Residences for unit management, which includes short-term, seasonal, and long-term rentals. Buyers can live in the unit for a few months, and rent out the rest, boasting flexibility and performance. They also have the option to buy a unit with a long-term tenant already in place and let Nomada Residences handle the rental. Additionally, and exclusively at Quadro, buyers can choose one of the turnkey interior design packages available for purchase from Sette Interior Design.
Ready for immediate purchase or move-in, the residences feature a wide selection of amenities including stainless steel appliances, and washer and dryer, a private balcony with stunning city and bay views, high-ceilings ranging from 9 feet to 13 feet, floor-to-ceiling windows in select units, sleek compact quartz countertops in kitchen and bathrooms, European self-closing cabinetry, custom designer lighting packages, Bluetooth keyless entry, NEST thermostats, Italian porcelain tile throughout, modern-white roller shades, as well as open concept kitchen and living room. Quadro also offers electric car charging stations and a state-of-the-art pet washing facility.
The residences are ready for move-in and come with an optional furniture package by Sette Interior Design, inclusive of all furniture and accessories that make the unit turnkey. As the first boutique condominium in the Miami Design District, Quadro places owners and residents at the nexus of art, design, and culture, surrounded by prestigious art galleries and private collections, 75 lavishly appointed boutiques, 24 of the city’s best restaurants, and finest day schools.
Residences are exclusively marketed and sold by Fortune Development Sales and start in the $400,000’s. Nestled within the heart of the city’s trendsetting creative hub, Quadro offers its residents and guests more than 500 custom art pieces and installations of contemporary art created by ART with DNA under the direction of artist, Francisco Del Rio.
Quadro Miami Design District is located at 3900 Biscayne Blvd., Miami, FL 33137. For additional information visit www.quadroresidences.com or call Fortune Development Sales at (305) 744-5262.
Photo credit: Courtesy of Alta Developers