Who lives in Millionaires Row, Miami?
Millionaires Row Miami has always been synonymous with luxury, exclusiveness and a rich history of luxurious living. Extending along Collins Avenue between 41st and 62nd Streets in Miami Beach, this famed oceanfront boulevard became the playground of America’s business elite, Hollywood’s biggest stars and international high society. But who actually lives on Millionaires Row today?
How has the population changed and what is it about this strip of Miami Beach that remains so persistently appealing? This is a detailed book about the past people who lived on the Millionaire's Row, the current people who live there, and, in some cases, the life style on the Row.
Millionaires Row's Beginnings: A Glamour Legacy
Millionaires Row was established in the early 20th century, a refuge for America’s wealthiest families. It was heralded by grand estates: the Snowden Estate, which would later become the Firestone Estate, and the exclusive Bath Club which served as social center for the society set1. Early residents included:
John D. Hertz: Created Hertz car rental and Yellow Cab.
Albert Lasker: Headed the U.S. Shipping Board and was an influential advertiser.
Charles A. McCullough: There's a paper and transportation tycoon.
John B. Ford : President : Michigan Alkali Corporation.
Albert R. Erskine: Former president of the Studebaker Corporation.
William M. Griffin: President of Wayne Pump Company.
These early adopters constructed grandiose winter homes on generous plots, turning it into a playground for the fabulously rich. The buildings epitomized Mediterranean and Art Deco design sensibilities with barrel-tile roofs, grand arches and verdant gardens8.
Millionaires Row Today: Who Lives There Now?
Once known as the golden age of Millionaires Row when sprawling mansions, mansions and private estates were the norm, the area has become home to luxury condos, fine hotels and a happening community of residents258. Today, a person who operates an open garage holds the keys to this house chopped into apartments that gets lost in the crowd on Millionaires Row?
Successful Business/Professional and Enterprise owners
Most of our population of today consists of successful professionals, local business owners, and entrepreneurs who enjoy the status and ease of living in Miami Beach. Others are attracted to the high-rise condos with sweeping ocean and bay vistas, modern facilities, and access to the lively nightlife and cultural scene of Miami.
Foreign Investors and Part-Time Residents
Millionaires Row continues to draw foreign buyers, especially from Latin America, Europe and Canada. A number are second-home owners or investors, and use their homes as winter hideaways or getaways. The safety, luxury and location of the area has made it a favorite among international elites looking for a piece of Miami.
Notables and Celebrities
Though some of the city’s wealthiest have moved to newer enclaves like Star Island or Indian Creek, Millionaires Row remains home to some prominent figures. Three-time-Grammy-winner Enrique Iglesias has actually been tied to the area, and the neighborhood’s luxury buildings have had their share of famous tenants through the years6. The nearness to Miami’s nightlife and privacy in high-end condos are among the draws for celebrities.
Original Miami Beach Settlers
Millionaires Row also includes a contingent of longtime residents who have watched the neighborhood evolve over decades. Some are families that have called the area home for generations, others are retirees attracted by the combination of tranquillity and convenience the location provides.
The Lifestyle: What Is It Like to Live on Millionaires Row
New York Luxury Condos and Amenities
Today, the modern Millionaires Row is littered with luxury condominium towers that consist of a wide variety of unit types, from one-bedroom homes to full floor penthouses25. Residents enjoy:
Resort-style pools and spas
Private beach access
24 hr concierge and security
Valet parking
Gyms and tennis courts
Access to high-end boutiques and fine dining in walking distance
A majority of the condos have spacious balconies which offer breathtaking views of the Atlantic Ocean, Biscayne Bay and the Miami city skyline to make life the way you want.
Prime Location
Residing on Millionaires Row, residents enjoy a central location in Miami Beach, with South Beach, the Art Deco District and the Miami Beach Boardwalk just a quick drive away. The neighborhood is minutes from some of the best restaurants, shopping and entertainment Miami has to offer.
A Diverse Community
In its early years, the influx of wealthy New Yorkers built themselves opulent mansions to rival those of their friends but the Millionaires Row of today is home to a diverse range of people from across the world. When they are not coming to an agreement or expressing their displeasure, they add to the neighborhood's liveliness and variety.
Millionaires Row in the 21st Century
Millionaires Row is less a reflection of luxury than it once was, however. In the '80s and '90s, it was Miami’s equivalent to New York’s Central Park West—an address for the rich and famous8. But real estate trends have changed:
Younger Wealth: Many of today’s millionaire and billionaire younger people don’t want a car and want to live in a walkable area with life, like South of Fifth, the Venetian Islands, or Sunset Harbour.
Condo Living: There are only a few remaining original mansion buildings and they turned the neighborhood into a residential area which can be inhabited by a wider variety of wealthy people8.
Investment Appeal: With Medians in the $750K-$800K, Millionaires Row provides luxury living at a more affordable price point than Miami’s ultra-exclusive islands4.
Whether you’re thinking about becoming a part of this vibrant community or are just in search of available properties, we invite you to check out our website for the newest listings and expert analysis of all things Miami Beach real estate.
Places of interest and landmarks
Among the most prestigious landmarks on Millionaires Row are:
The Bath Club: Formerly a private club for the wealthy; now a luxury condo and event space.
Fontainebleau Hotel: Situated on what used to be the Firestone Estate, this is the place to party, and the ultra-glamorous Miami Beach spot is as you remember it.
57 Ocean, The Alexander, and The Carriage Club: Modern luxury condos that bring resort life home25.
Why Live on Millionaires Row?
Matchless Ocean Views: Begin your day with spectacular sunrises on the Atlantic and the ability to take a walk over soft sand beaches.
Luxurious Amenities: Homesuites offer a range of offerings from private pools to on-site spas, and thoughtful inclusions.
Location Location: Minutes from the best that Miami has to offer in attractions, nightlife and culture.
Safety and Community: Gated complexes, round the clock security, and a real sense of community.
For those looking for a mix of history and utility, however, a number of them remain among Miami's most desirable addresses on Miami Beaches Millionaires Row. To get to know the neighborhood and you best, discover our services and let us help you every step of the way throughout your Miami real estate process.
The Millionaires Row of the Future
And as Miami has changed, Millionaires Row has transformed. Though no longer the sole preserve of America’s industrial titans, it remains a place that has defined luxury living and has an allure for a new generation of affluent residents from across the globe. Its rich past mixed with all modern conveniences in the perfect location can make the Millionaires Row experience last well into the future.
Whether investing in a new home, a city condo, a vacation resort or second home, or a commercial property, Millionaires Row keeps you in the thick of all that’s going on in beautiful Miami Beach! For additional analysis, market information, or to receive the best real estate consultancy service and purchase assistance visit our website and contact an expert from our Miami real estate team.
