Lifestyle

Art Basel: At the intersection of art and real estate

A unique arts scene and lifestyle connect with real estate in the Magic City
  • “The Art Basel effect” has helped transform Miami into a world-class art and cultural center of many genres which has spawned new areas like the Arts and Entertainment District
  • Miami continues to evolve as a desirable destination with a sophisticated lifestyle attractive to upscale buyers of real estate
  • The Miami art scene has empowered real estate professionals to relate to cosmopolitan buyers and elevate the overall price point for the market-- creating the super luxury category that did not exist 13 years ago

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Art Basel Miami Beach 2015, came and went in another blaze of glory. Despite wet weather, parking overload and other logistical interludes, the world’s most important annual art show enhanced by satellite fairs continued to impact the local and global art scene.

It’s a mega economic driver for the city too. According to Beacon Council executive vice president Steve Beatus, Art Basel’s far-reaching economic impact can be likened to having a Superbowl in Miami each day of Art Week.

Art Basel Miami Beach has sparked a cultural renaissance

It’s been a wild ride ever since Art Basel Miami Beach, the sister show of the Swiss-based fair, propelled Miami and Miami Beach to center stage on the international culture circuit. Over the past 13 years, Art Basel’s palette of established and emerging artists, collectors and cutting-edge works of art generated energy that lasted well beyond one wild week in December.

At the same time, an unprecedented building boom provided a fitting setting for people interested in cultural offerings. Today, Miami can claim to be one of the world’s great cities with great contemporary art in private and public collections.

Miami lifestyle appeals to upscale homebuyers

Today, Miami ranks third, after New York and London, in the artsy list of the Most influential Art World cities. This booming arts scene connects real estate and high-end buyers, illustrated by the number of private jet flights to Miami for Art Basel 2015, nearly 800.

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Here, the fun-in-the-sun playground pulsates with the rhythm of a unique arts scene and cultural life. Miami’s location at the crossroads of Latin America– a richly creative, diverse and sophisticated population and a natural enthusiasm for varied cultural experiences, makes this a top home-owning destination to delight in.

Contemporary art has escaped the constraints of four walls

No longer confined to traditional museums and galleries, contemporary art is flourishing all around town. From the explosive colors and images of Wynwood Walls to repurposed warehouses and pop-up displays during the monthly neighborhood Art Walks, Miami showcases art everywhere.

Many developers are also art collectors, connoisseurs and patrons intent on harnessing the emotional power of contemporary art in their buildings.

Among the best known are Related Group’s Jorge Perez, a sponsor of the Perez Art Museum; Marty Margulies, father of the eponymous Collection at the Warehouse; and Craig Robins, CEO and president of Dacra and creative genius behind the reincarnation of Miami’s Design District.

Developer Alan Faena’s new “district” in Miami Beach will integrate the arts into a larger residential and hotel development. His art and cultural center will feature a new kind of multidisciplinary center in a flexible building that can house dance, theater, political debates, lectures and a wide range of other cultural happenings.

Agents know their art

Miami real estate professionals savvy about the burgeoning art scene can relate to cosmopolitan customers. Many new high-rise projects are marketed with a cultural component that imbues them with a special sense of value and sophistication.

Residents of luxury condominiums can engage with art in their own surroundings while agents communicate to buyers the cachet and sense of identity in buildings designed by starchitects or featuring commissioned art works.

Beth embodies impressive accomplishments from her 30 year career span. She is currently the President of Compass.