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It was not so long ago that the Collins Avenue section of Miami Beach, between 41st Street and 62nd Street, was a favorite spot for celebrities, lined with sumptuous mansions by the ocean. and trendy luxury hotels.
But several real estate agents with whom I spoke have said that, even if the term is still sometimes used to designate this region, the ultra-rich do not move anymore.
"In the '80s and' 90s, Millionaires' Row belonged to New York's Central Park West," Business Insider Melissa Rubin, broker-advisor for Compbad in South Florida, told AFP, adding that homes were elegant and that the rich flocked to the area.
Now you can easily buy a condo on Millionaires Row for less than $ 1 million. "This is not a place where the rich are turning to," said Rubin.
According to Douglas Elliman's Dina Goldentayer, it's about rejuvenating money.
"These buyers – in their thirties or forties – are very concerned about the pedestrian potential," said Goldentayer. "That's why communities like the Venetian Islands have boomed in the last 5 years because of their proximity to the trendy Sunset Harbor area."
On a recent trip to Miami, I spent the afternoon touring the Collins Avenue stretch, nicknamed "Millionaires & # 39; Row". Here is what it looked like.
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