Miami Beach Vintage Condos Offered At 58% Discount At Peak Of Winter Buying Season
Vintage condos are units located in buildings that are at least 30 years old. Florida requires Vintage condo buildings to undergo strenuous Milestone Studies to ensure life safety for residents.
Asking prices for Vintage condos are listed for about 58 percent less than the Overall average condo resale price in Miami Beach at the peak of the 2024-25 South Florida Winter Buying Season, according to an analysis by the buyside brokerage CondoVulturesRealty.com.
A vintage condo is not an industry designation but rather a term we began coining in August 2024 to identify older units that have existed for at least 30 years.
Check out the Miami Beach Vintage condo statistics at the bottom of this report
In the wake of the Surfside condo collapse, Florida requires these older buildings to undergo a strenuous Milestone Study conducted by licensed engineers and/or architects before reaching their 30-year anniversary of receiving a Certificate of Occupancy (CO).
It is worth noting that buildings located within three miles of the coastline can be required - depending upon the county - to conduct Milestone Studies at the 25-year mark.
Condo buildings older than 30 years, in general, are said to be tougher to sell, more expensive to insure and burdened with significant association maintenance fees and special assessments.
Industry watchers have said that value-minded buyers may be willing to once again consider Vintage condos if the units are located in buildings that have completed their necessary life-safety examinations as required by the revised Florida Condo Law.