New York City's Billionaire's Row describes a now-infamous stretch of Manhattan just south of Central Park that sprung up over the past 15 years and boasts some of the world's highest residential skyscrapers. Populated by celebrities, financiers, and foreign moguls, the eight and nine figure apartments in Billionaire's Row offer the ultrawealthy unobstructed park views—while casting literal shade on more humble dwellings nearby.
Lately, though, the rich and powerful are heading south to seek refuge on Florida's income- and estate-tax-free shores, which has led Miami to create its own version of the ultraluxurious residential strip, dubbed by local real estate agents and developers as Billionaire's Beach. The segment of South Beach—running from 14th to 21st Street along Collins Avenue—is seeing some $2.5 billion in investments via luxury hotels and residential developments, including from the likes of Rosewood Hotels and the Ritz-Carlton.
