South of Fifth Luxury Condo Building Pictures

May 31, 2009 by Lucas Lechuga

Earlier this week, I arrived back in Miami from a 5-day cruise and was able to take some nice pictures of several of the luxury condo buildings in South of Fifth as the cruise ship departed. Just wanted to share them with everyone.

Apogee South Beach:

Apogee South Beach

Portofino Tower:

Portofino Tower

South Pointe Tower:

South Pointe Tower

Continuum South:

Continuum South Tower

Continuum South and Continuum North towers:

Continuum South and North Towers

The beautiful beaches in South Beach:

South Beach

South of Fifth luxury condo buildings:

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125 Comments on "South of Fifth Luxury Condo Building Pictures"


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Anonymous
Drew
7 years 3 months ago

I know Apogee is nice, but that photo makes it look like a housing project.

Lucas, you need to toss the 3 megapixel camera and buy a new one.

Anonymous
AJ
7 years 3 months ago
I dunno if it is that the picture quality is bad or that Lucas is downgrading a megabyte pic into kilobyte size for easy downloading. But in any case the pictures quality is awful, and the most beautiful place on Earth ended up looking like Tijuana. Instead may I suggest to put the pics on Picasa or Shutterfly and provide the link? It is not exciting to read a story piece with out pics but this is a problem here and is there an alternative? But critisism apart, A+ for effort. Thanks. Anyway this is the NYT story on SOFI:… Read more »
Anonymous
Wild Bill
7 years 3 months ago

South of Fifth is the most over hyped area in Miami. It’s a crack hole compared to Coral Gables.

Anonymous
Kramer
7 years 3 months ago

Wild Bill you are a hoot. Our resident optimist. LOL!

Anonymous
IRR
7 years 3 months ago

So true Wild Bill. BTW Riff Raf=AJ

Anonymous
Bmw m3
7 years 3 months ago

I wonder why the newyourktimes disk’ t do a story on pacepark an the bodies of it’s glistening bronzed hobos?

Anonymous
AJ
7 years 3 months ago

IRR = Ignorance Running Rampant

Anonymous
Bmw m3
7 years 3 months ago

Check out some of the inhabitants of pace park http://www.youtube.com/watch?v=ccgXjA2BLEY&feature=related. Bubb rubb and lil sis

Anonymous
Wild Bill
7 years 3 months ago
South Beach is all about train horns. Not so sure about muffler whistles. Nothing beats a vehicle with an air compressor and a train horn. South of Fifth residents claim the Browns Hotel is not a hotel and La Piaggia Beach Club isn’t private. South of Fifth has awful quality of life issues which is why they have such a vocal community association. People in nice areas usually don’t have to deal with half the crap Miami Beach residents have to. As always government is one step behind. Enjoy your million dollar condos in a dollar store neighborhood.
Anonymous
Wild Bill
7 years 3 months ago
Anonymous
Anna
7 years 3 months ago

And now for a completely different type of diversion…

http://www.youtube.com/watch?v=WXd6sZXo7nM&NR=1

Anonymous
7 years 3 months ago

“For brunch-time gossip, locals pull up to Big Pink, a nouveau diner that functions like a general store. ”

You always get surreal quips like this when an out of towner tries to concoct an article without even visiting the city in question.

Anonymous
BMW M3
7 years 3 months ago

IRR = Intentionally radical renter

Anonymous
7 years 3 months ago

i love coral gables!!!! now your talking

Anonymous
southbeachsand
7 years 3 months ago

The Browns Hotel only has 9 rooms. I wouldn’t exactly call it a hotel either. Its just a mask for a hotel so they could put Prime 112 in the small building. Sneaky, but genius, lawyers.

La Piaggia…private? lol No membership needed. No way would I ever pay a membership to hang out over there in a tiny pool with sand. As long as you are buying some drinks, you’re in.

Anonymous
Joe
7 years 3 months ago

This is only tangentially related to SoFi, but can anyone explain how this year’s Miami tax assessments only dropped 9% when Miami housing prices have dropped by 30 to 40%?

Anonymous
DJ
7 years 3 months ago

Joe, this city’s more corrupt than the mafia. They’ll probably just raise the millage rate to a point where taxes actually go up even though assessments go down.

Anonymous
gables
7 years 3 months ago

Joe,
Many of the homeowners did not pay full taxes on the appreciated prices from 2000-2007, since we have homestead exemptions. Thus the drops in prices also do not result in the same significant decreases, since in 2009 the homeowner may have only been paying 2003 prices, due to caps on yearly increases. Those who purchased at the peak are in a different boat, but they do not make up the majority of home owners.

Anonymous
Odd & Sods
7 years 3 months ago

I saw The Ace on Fox Happy Hour a week or so back and he specifically mentioned one or more of these buildings would be valued down to $125.00 per square foot or less in the not to distant future. Personally I’m done arguing with Ace as the economic data today cannot support any other view. The amazing thing is that The Ace called it some three years ago if I recall rightly.

Anonymous
Joe
7 years 3 months ago

One of these SoFi buildings at $125/s.f.? Wouldn’t that require about a further 70% drop from today’s prices? I don’t know much about South Pointe Tower or Portofino Tower, but the others seem to be selling for $700 or more per sq. foot right now.

Anonymous
gables
7 years 3 months ago
Joe, These buildings will never drop to that value. They will never even reach $300/sf, at which point i would certainly jump in with both feet. Other beach condos may fall, but SoFi will not-the neighborhood is good, safe and will maintain value for years to come. This neighborhood has the advantage of only needing to resist creep from undesirable areas from the north only, which will make it easier to maintain a more upscale neighborhood. The buildings are magnificent, and the money living in them is great enough to maintain the building and the area. No significant fears of… Read more »
Anonymous
southbeachsand
7 years 3 months ago

No way will they see anywhere near $125. That is just stupid. Most of these buildings are small (from a number of unit standpoint). Its not like they are 1800-unit Icon Brickell buildings.

In fact, I doubt all the towers in SoFi even add up to 1,800 units. Plus, you can’t build anymore high rise buildings in SoFi. What you see now is it forever.

Anonymous
gables
7 years 3 months ago

There will be no moratorium on SoFi highrises. Plenty will appear over the next couple of decades. There is land, especially inland, which will support the construction of several high rises, in the SoFi area. You cannot stop development and expansion, especially in Miami, where the developers will provide larger bribes than the preservationists. Just a fact of Miami politics. Plenty of parking lots in the area will be turned into something much larger-and i think that is a good thing. Make the area a true community.

Anonymous
DJ
7 years 3 months ago

To proffer that any of these ocean front luxury buildings will fall to $125/sq. foot is beyond stupid.

Anonymous
southbeachsand
7 years 3 months ago

Gables, you will never see another high rise in SoFi. The zoning will not allow anything above 50 feet inland. Some areas its 35 feet. Changing zoning to allow a big tower would have zero chance. Just ask the developers of Bijou who just wanted to put a restaurant/bar in their tiny 3 story hotel. You can’t get past the planning board, the historic board, the mayor, the commissioners, and the neighborhood associations.

Anonymous
DJ
7 years 3 months ago
Maybe if all the criminals and dipsits running our local govenment had had the foresight and financial common-sense not to squander their windfall boom-era revenues and set aside aqequte reserves for when the party inevitably ended, we wouldn’t be in this situation…. Miami-Dade property tax funds drop; cuts likely The worst decline in property taxes in at least four decades will leave elected officials with the uncomfortable task of closing massive projected budget deficits. BY MATTHEW HAGGMAN AND CHARLES RABIN mhaggman@MiamiHerald.com Miami-Dade County property tax values nose-dived 9 percent during the past year, making it the worst year-over-year decline in… Read more »
Anonymous
southbeachsand
7 years 3 months ago

Anyone have data of the County property tax income from say years 2000 until 2009?

Even though its down this year, I would love to see how much it rose during the boom years. The county website was no help.

Anonymous
gables
7 years 3 months ago
southbeachsand, Zoning, commissioners, etc will not stand in the way of progress in the long term. Governments need residents, and in particular real estate, to increase their tax base and revenue for spending. the only option SoFi and other Miami Beach areas have is to increase the number of high rises, since they cannot expand into undeveloped land-it does not exist. As the value of the inland areas increase in price, owners and developers will circumvent the existing roadblocks-they have very good imaginations and creative processes. This will be inevitable, just give it some time. Miami Beach and SoFi does… Read more »
Anonymous
Joe
7 years 3 months ago
gables — But who would want to buy a unit in an inland SoFi high-rise, when the “view” would be little more than the sides of the beachfront buildings? I could see developers doing battle to build a high-rise where Nikki Beach is located, or something like that, but building inland makes little sense to me. “These losses in property tax roll values are unprecedented,” County Manager George Burgess wrote in a memo to commissioners Monday … — And the *increases* in property tax roll values from 2000 to 2007 were unprecedented, too. Good grief. Is it a local law… Read more »
Anonymous
Brody
7 years 3 months ago
SoFi is great, and will remain so for years to come, but as others have said, there won’t be anymore high-rise construction in Miami Beach, that’s it. And I think that’s great. South Beach’s charm comes from its historic mid-rises and smaller scale development. Brickell and Downtown on the other hand, is where high-rises in Miami-Dade will be focused on (along with Aventura and Sunny Isles Beach). Brickell is extremely popular, and people will pay a lot of money to live with a Brickell address. Not to mention, Brickell and Downtown offer people an urban lifestyle and convenience to work… Read more »
Anonymous
Wild Bill
7 years 3 months ago

South of Fifth has a ton of speculators. Many of these people have already lost 50% of their money on units bought at peak prices. I’ve listed a few on previous posts. Several units on Alton Road have dropped $500,000.
The Herald is now mentioning how people are buying foreclosures. Only they forgot to mention is that some of these projects have Chinese drywall. Round two of foreclosures will set in as people will have to gut and redo these units. I’m convinced everybody in real estate has selective amnesia.

Anonymous
Lara
7 years 3 months ago
I agree with Brody. Also I am starting to be involved in foreclosure bidding wars and until you personaly experience it you do not know what is involved. If priced right every apartment is getting somewhere around 10 offers so initial price does not mean a thing. those who have cash bid and prices go up from 25K to 50K. I am talking about apartments in the range between $140,000- $200,000 in the buildings where people cannot get financing even if they are approved. It is like a gold rush. I cannot predict the future but this is what’s going… Read more »
Anonymous
southbeachsand
7 years 3 months ago

Gables,
I assume you also know that in Miami Beach, it requires a public referendum vote to upzone a property to increased density?

Miami Beach residents will never go to the poll to vote for a big tower. If a building is not approved as of today, then it has to go to a ballot (to increase zoning density).
Thats after the planning board, the commissioners, the mayor, the associations, etc…

This all recently passed.

Anonymous
DJ
7 years 3 months ago

Just got an update….could possibly be getting word on my short sale within 1-2 weeks. Hopefully that’s accurate, I’m getting sick of waiting.

Anonymous
gables
7 years 3 months ago
I have found very few areas around this great country where zoning rules (and other similar impediments) could not be overcome with the right amount of money, pressure and time. This will happen in SoFi. The location will demand this occur. Joe, inland SoFi property not in demand? Think about this situation. You are within walking distance of one of the most popular beaches on the planet, you have direct and easy access to Miami mainland and connecting highways, plenty of unused (or under utilized) land, and construction costs will be comparatively lower over the next decade or so. There… Read more »
Anonymous
Joe
7 years 3 months ago

I still disagree. Unless the current residents of SoFi sell their units and a bunch of apathetic people move in, I can’t envision any scenario in which 20-story or 50-story buildings will be built in SoFi.

The current residents went berserk when the music was a little too loud at Opium Garden or that other place. I don’t see them rolling over for years’ worth of construction. (And remember, a lot of the people in SoFi, if not an outright majority, are very monied outsiders who aren’t going to get rolled by a couple local politicians and their developer buddies.)

Anonymous
gables
7 years 3 months ago

Joe, remember you vote only if a resident (not just an owner who lives there part time). In essence, the renters have more say over an area than owners, in many cases. Suffice it to say, as the rental population increases, the zoning dynamics also can change. A single highrise (not including Apogee and similar ultra buildings) can significantly change the voting preference of an area. Renters can be easily bought in the vote.

Anonymous
southbeachsand
7 years 3 months ago

So you really think a private developer will win a public vote by the residents of Miami Beach to build condo tower in south of fifth? That is the only way permissible. A public majority vote. lol No single chance ever.

Even Jorge Perez had to limit his proposed Viceroy hotel across from Nikki Beach to 5 stories. He’s got more money and clout than anyone in south florida. He built half the towers in sofi.

No chance you get around that public vote.

Anonymous
Anna
7 years 3 months ago

According to a report this week from Forbes.com, Miami once again tops a “bad” list…this time as the #1 city in America for credit card debt per capita.

1. Miami, Fla.
(Miami-Miami Beach-Kendall, Fla.)

Average Credit Card Debt Per Household: $9,797.38

Median Household Income: $43,333

Percent of Income Owed To Credit Card Companies: 22.61%

2. Tampa, Fla.
(Tampa-St. Petersburg-Clearwater, Fla.)

Average Credit Card Debt Per Household: $7,685.88

Median Household Income: $44,944

Percent of Income Owed To Credit Card Companies: 17.10%

3. Los Angeles, Calif.
(Los Angeles-Long Beach-Glendale, Calif.)

Average Credit Card Debt Per Household: $8,815.86

Median Household Income: $52,456

Percent of Income Owed To Credit Card Companies: 16.81%

Anonymous
gables
7 years 3 months ago

Miami Beach is one major hurricane and storm surge away from MAJOR redevelopment, overriding the so called zoning laws. Not a question of if, but when. During the chaos in the following years of such an event, a multitude of “not a snowballs chance” items will occur.

Anonymous
AJ
7 years 3 months ago
Anna, That confirms my belief. Miamians to a large extent live a showy and flashy life paid for by the credit cards. I think even good and responsible people from elsewhere fall into this rut when they move in here and get peer pressured into a spending lifestyle. I don’t know if to blame Miamians or the city itself for being a bad influence on spending attitudes. I have never seen so many prissy bitches and crochety bastards than I encountered in Miami. Just to illustrate the point, in my building, they sent all the lobby curtains to the laundry… Read more »
Anonymous
AJ
7 years 3 months ago

oh and BTW, when I visit SOBE and my friends ask me “how did you get here”, I tell them proudly “I took the bus and paid $2”. Some of them are actually envious that I have no hang ups to portray something which I am not.
I have 5 cars in NY and I will be bringing 3 of them when I move to Miami. But save for that once a week trip to Costco, My cars will probably lie garaged and I will be walking or biking everywhere.

Anonymous
7 years 3 months ago

In 15 years, all the SoFi condos will be looking ghetto and outdated. That’s why condos make bad long-term investments.

Anonymous
Joe
7 years 3 months ago

gables — So you think the aftermath of a disastrous hurricane will be the time people decide *increased* density in SoFi is a good idea? That seems like a stretch.

Anonymous
Bmw m3
7 years 3 months ago

True luxury buildings 500/sf. Luxury but dumb concept $300. old buildings (mirador) go back to ore bubble prices

Anonymous
An interesting review
7 years 3 months ago

An interesting review of government action to the private citizen.

http://www.youtube.com/watch?v=fbGkxcY7YFU

Anonymous
Julian
7 years 3 months ago
Whatever the zoning laws or idiocy of the elected officials of the County, you still can’t clear a market at $500 a sq ft where a 1400 sq ft residence will cost you nearly $30,0000 a year in taxes and HOA to run (before you’ve paid a single bill). I am stunned still how this absurdity isn’t ridiculed in this forum more rather than some arbitrary per sq ft measure. I’m a cash buyer in the mkt for the Miami Beach/SoFi condos you are discussing but am not foolish enough to burn money for the sake of it – certainly… Read more »
Anonymous
gables
7 years 3 months ago
Joe, after such an event you will have basically two options. One, the government will say this area is too dangerous and eliminate any recovery (see the gulf coast and New Orleans regarding this issue) or two, a rebuilding scenario will occur. If option one occurs, SoFi will be a few high rises surrounded by a ghetto in the interior. If option two occurs, the interior will be rebuilt, but not with 2 and 3 story structures-since the government will not allow much use out of the first floor due to flood elevation issues. Economics will dictate much larger structures… Read more »
Anonymous
Joe
7 years 3 months ago
gables — You seem to be assuming an either/or proposition that leaves out the most obvious scenario: A hurricane hits SoFi, and then people rebuild per the existing zoning and regulations. New Orleans is located below sea level, while SoFi/SoBe isn’t much (any?) different than a hundred other U.S. localities that have been whacked by hurricanes. Thus, your option #1 scenario — a ban on rebuilding — has a 0% chance of being implemented in SoFi. As for scenario #2, of course it costs less to run utilities to one high-rise than it does 200 homes, but that’s a straw… Read more »
Anonymous
Renter Tom
7 years 3 months ago

If Citizen’s insurance raises insurance premiums 10% each year for the next 5 years, you can expect HOA fees to probably rise what????? 25%??? Just to keep up with the insurance cost increases alone.

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