With the new tax plan in place, there should be a number of ultra-wealthy New Yorkers looking to establish residency in Florida. Florida does not have state income tax while New York has some of the most crippling taxes in the entire country; and the new tax plan will only make matters worse. The Tax Cuts and Jobs Act now caps the state and local tax deductions (income + property taxes) at $10,000, making federal income taxes much higher for the ultra-wealthy.
In order to qualify for Florida's zero income tax, a person must establish residency, meaning he/she must live in the state for six months and a day. If that sounds peachy to you, you may want to weigh your options. I've compiled a list of the top 5 luxury apartments for rent in Miami.
Unit 3106 at Marquis Residences is a 4 Bedroom, 4.5 Bathroom, bi-level condo with 3,776 interior square feet. It was recently completely renovated and comes fully furnished. Marquis Residences amenities include: full-service concierge, fitness center, hot tubs, sauna, and steam room. Asking $22,000 per month.
PH5708 at Marinablue is a 2-story penthouse with arguably the best views in all of Miami. It has 4 Bedrooms, 4 Bathrooms with 4,498 interior square feet. The corner unit has full panoramic views of the bay, ocean, and city skylines from north to south. Marinablue includes 2 swimming pools, hot tub, fitness center, concierge, business center, conference room, club room, and more. Asking $15,900 per month unfurnished.
PH6201 at 900 Biscayne Bay is a fully furnished 4 Bedroom, 4.5 Bathroom penthouse with 3,199 interior square feet and sweeping views of the bay, city, and ocean. It also has a total of 3 terraces totaling 802 square feet. 900 Biscayne Bay amenities include: swimming pool, full-service spa with steam rooms and saunas, fitness center, full-service concierge, children's playroom, club room, movie theater, and more. Asking $17,500 per month.
Biscayne Beach BH407 comes fully furnished and includes 5 Bedroom, 5.5 Bathrooms with 4,473 interior square feet and 83 linear feet of water-facing views. Biscayne Beach was completed earlier this year and includes an array of amenities such as beach club, swimming pools, hot tub, tennis court, half basketball court, 24-hour concierge, and more.
If space is what you're seeking, unit 501 at Parc Lofts is the ideal home for you. It's a 5 Bedroom, 5 Bathroom condo with an astounding 7,110 interior square feet and 22-foot high ceilings. It also includes 3 terraces and 2,600 square feet of open entertainment space. Asking $15,000 per month fully furnished.