North miami beach: the next florida hotspot

North Miami Beach coule be the next big Florida hotpots for residential and commercial investors, according to one broker.

"The scenic Biscayne Boulevard corridor and the 163rd Street commercial district are in the early stages of an exciting transformation that will bring many positive benefits and developments to the city," says Michael Internoscia, managing broker of Marina Palms Yacht Club & Residences.

Writing in the Miami Herald, he highlights the city's plan launched in September 2014 by the Mayor, George Vallejo, that sets guidelines for development, design and zoning for the coming 15 years, with new high-end restaurants and a hotel on the way.

Gil Dezer, president of Dezer Developers in Sunny Isles Beach, bought the Intracoastal Mall for $63.5 million last year and plans to open a luxury iPic theater in the mall this summer, adds Internoscia.