Article Courtesy of The Miami Herald
By Bianca Padró Ocasio
Published June 20, 2019
A new downtown Miami
high-rise being unveiled Tuesday is
promising buyers the chance to profit from
their luxury units through Airbnb without
running afoul of the condo board.
The first Natiivo
buildings are planned for Miami and Austin
through a partnership between Miami-based
real estate company NGD Homesharing and
Airbnb. They are slated to open in spring
2022.
“Basically, these are
the first buildings built, designed and licensed for
homesharing,” said Harvey Hernandez, CEO of NGD Homesharing.
“The reason why we created Natiivo was kind of out of
necessity,” said Hernandez. “We hear from a lot of
prospective tenants and people inquiring on our website
about owning this kind of apartment.”
Independent analysis shows that homeowners in popular
tourism markets like Miami can make more money renting on
Airbnb than through traditional long-term leases. But
short-term homesharing rentals are prohibited by many condo
buildings and homeowners associations, as well as by
ordinance in some cities.
Natiivo Miami will sit on 55,000 square feet of property at
190 NE Sixth St., near the Wolfson campus of Miami Dade
College. The design calls for 604 units, including studios
and one, two and three-bedroom luxury apartments that can be
booked through an online app. More than 400 of the
apartments will be offered for sale; the rest will be used
as hotel-style bedrooms. Purchase prices will range from
$300,000 to $1.2 million, Hernandez said. |
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It is the second collaboration between NGD Homesharing and Airbnb, which
also created Niido Powered by Airbnb, rental communities created in 2016 in
Central Florida and Nashville in existing upscale buildings. That effort
came under fire from residents, who reportedly were unaware their buildings
were being converted to allow short-term rentals. The Natiivo brand is being
developed with the express purpose of encouraging Airbnb rentals.
In contrast to the Niido rentals, which allowed renters to profit from
short-term homesharing up to 180 days a year, Natiivo owners won’t have a
cap for how long they can host guests.
“Our buyers have the flexibility and opportunity to live 100 percent of the
time ... or have that investment and have that investment work for them,”
Hernandez said.
Natiivo developments will include pools, lounges, coworking spaces and an
Airbnb-powered MasterHost, a full-time concierge available to owners and
part-time guests.
Both Austin and Miami are in the Top 10 Airbnb markets in the U.S. when it
comes to bookings and demand for homesharing, Hernandez said. Airbnb lists
more than 19,000 units in Miami-Dade. |