My friends and I rented this property during our spring break. It is perfect if you want to be on the beach but away from the madness of South Beach during the day. It was a few minute walk to the beach, where there was a substantial poolside food and drink menu for lunch. Half-price drinks at happy hour were excellent. Area was relatively quiet, and therefore well suited for all types of groups. Did not feel crowded by people at all, even though we were there during the busy season.
The hotel in which this property is located is well decorated, and the amenities it provides should not be understated. The concierge proved very helpful in finding quality restaurants in South Beach (very few options nearby), and calling us a taxi each night.
The property itself was high in value given the low cost of nightly rental. The five of us found the size of the condo more than adequate, and did not feel that we sacrificed personal space. One unspoken quality of this property...