15 Miami Beach Condo Resales Traded For At Least $4,000 Per Square Foot Since 2013

A review of statistics shows that four condo resales in the $4,000-per-square-foot club traded in 2023.

Buyers have paid at least $4,000 per square foot each for 15 Miami Beach condo resales - including four deals in 2023 - in the last decade, according to an analysis of statistics compiled by CondoVulturesRealty.com.

The 15 units in Miami Beach’s exclusive $4,000-per-square-foot club have traded for a combined purchase price of more than $292 million. The average price per square foot for these units works out to more than $4,535, according to the stats.

By comparison, the average transaction price for a Miami Beach condo was about $727 per square foot in 2023, according to a recent report.

In 2023, buyers paid more than $1.8 billion for nearly 1,950 condos in Miami Beach, according to the stats.

Join the Miami Condo Market Investment Club™ to see the comprehensive list of the 15 condos in Miami Beach’s $4,000-Per-Square-Foot Club

Industry watchers say that Florida condo pricing peaks in Miami Beach’ s South Of Fifth (SoFi) neighborhood and decreases as you move to the north, south and west from the tip of the barrier island.

Given the local colloquialism, it should come as no surprise that seven of the 15 units in the $4,000-per-square-foot club were located in the affluent, five-block long neighborhood of SoFi that stretches from South Pointe Drive (effective Zero Street) north to Fifth Street.

An additional five units in the $4,000-per-square-foot club traded in buildings in Miami Beach’s South Beach submarket but outside of the SoFi neighborhood.

The other condo resales in the $4,000-per-square-foot club traded in projects located in the Middle Beach submarket (one unit) and the North Beach submarket (two units).

For context, Miami Beach is a 7.5-mile-long city located on the barrier island between the Atlantic Ocean west to Biscayne Bay, and South Pointe Drive north to 87th Terrace.

Miami Beach is made up of three distinctly different submarkets with flashy South Beach, mellow Middle Beach and working class North Beach.

From south to north, the South Beach submarket is defined as the South Pointe Drive north to 41st Street. The SoFi neighborhood is located within the South Beach submarket.

The Middle Beach submarket is an area that extends from 41st Street north to 63rd Street.

The North Beach submarket stretches from 63rd Street north to the Surfside city limits at 87th Terrace.

To assist with better understanding the market, CondoVultures.com has analyzed the Miami Beach condo resales to determine the number of resale transactions for at least $4,000 per square foot.

This list was created by CondoVulturesRealty.com using proprietary statistics along with data from the Southeast Florida MLX Matrix, Cranespotters.com, Miami-Dade Property Appraiser’s Website and Miami-Dade Clerk Of The Court.

Here is the list of Miami Beach condo resales in the $4,000-per-square-foot club:

For those seeking more details, we have created a comprehensive chart listing the 15 Miami Beach condo sales that have traded for at least $4,000 per square foot since 2013. The chart includes the:

• Asking price per unit;

• Sale price per unit;

• Asking price per square foot;

• Sales price per square foot;

• Asking price v. sales price change;

• Number of bedrooms;

• Address;

• And the year built.

The chart is available behind the paywall for members of the Miami Condo Market Investment Club™.

We have crunched the statistics for the Year 2023 and plan on publishing a series of of reports during the next two weeks on CondoVultures.com looking at the winners and losers in Miami Beach.

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This information is believed to be accurate and complete but cannot be guaranteed or warranted. For more information, please call 305.865.5859 or visit CondoVulturesRealty.com

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