When potential buyers (or renters) initially contact me they are a little surprised to find out that many of the most desirable buildings in Miami Beach, specifically South Beach in the luxury area South of Fifth, are not located directly on the ocean. In fact some of Miami Beach’s most desirable condos are located on the Biscayne Bay side of Miami Beach.
On the map that I made above, the pink line is 5th street and down from there you will find surrounding the Biscayne Bay from north to south: ICON, Murano Grande, Yacht Club at Portofino, Murano at Portofino, Apogee, Portofino Towers, Continuum I & II buildings.
Over the last 30 days there were seven sold properties within these buildings. The lowest price sold unit was an 840 square foot one bedroom in Continuum II and it sold for $520,000. The most expensive was a unit at Continuum II, a three bedroom and it sold for $3.25 million. All seven deals are listed as closing with cash. Over the last six months there were 63 closed sales, 41 were listed as closed with cash.
In terms of renting, over the last 30 days there were 22 rentals posted as rented within these buildings. The lease expensive was a furnished one bedroom in the Yacht Club and it rented for $2400 per month. One of the most expensive was a three bedroom unit at Continuum and it rented for $12,000 per month.
