Art Basel helps boost South Florida real estate
Real estate brokers, tour companies see spike in luxury condo, home market during annual event
MIAMI – The serious art collectors that flock to South Florida for Art Basel each year pack an economic punch, from hotels to restaurants to real estate.
"They like modern, they like glass, they like bringing the outside inside, they like high ceilings, they like lighting that's beautiful for the art," said Jill Hertzberg.
The Jills told Local 10 News that serious art collectors consider wall space in a home they are purchasing, and with that in mind, they also search for homes that are a piece of art themselves.
"Now they are starting to call us to say, 'We love being at Art Basel. Show us properties.' And we've got properties to show," said Hertzberg.
Meanwhile, Peter Zalewski of Condo Vultures started offering bus tours of Miami's luxury condo projects after seeing a spike in interest from Art Basel attendees for South Florida real estate.
"During Art Basel weekend, we had so much demand and interest in trying to figure out what was going on in downtown Miami, in terms of newly proposed condo projects, that we decided to rent a bus," said Zalewski.
"This is truly an economic boost to our entire city," said Hertzberg.
But real estate in Miami Beach and downtown Miami isn't cheap, with one home the Jills are selling going for a cool $37 million.
"If they can afford the art that's here, they can afford one of these homes," said Hertzberg.
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