Environmentalists might worry that rising sea levels will someday subsume Miami Beach, but that isn't stopping spec developers from building a string of new mammoth homes on North Bay Road, a.k.a. Millionaire's Row, and attaching price tags of more than $30 million to many of them. The real estate dip of last decade, which sent most of the spec contingent scurrying away like rats in a hurricane, has been replaced by a construction spree on Miami Beach's boldface-names street.
Developers of a half-dozen homes along North Bay Road which are under construction or have been built within the last two years are seeking at least $30 million for the residences, and more such homes are coming soon, say brokers and residents of the street.
"The secret is out, North Bay Road is probably the best street in all of Miami Beach," said Christian de Berdouare