Penthouse A at Apogee South Beach Hits the Market for $25M
Penthouse A at Apogee South Beach is back on the market for a cool $25M, exactly 365 day after selling last April for $11.5M. Judging by the pictures, it does not appear that any upgrades were made to the unit prior to putting it back on the market. The 6 bedroom/7.5 bath penthouse condo has an astounding 6,853 square feet of interior, 22-foot ceilings, over 11,000 square feet of terrace, a private rooftop pool, a summer kitchen and panoramic views of the Atlantic Ocean, Biscayne Bay and the city.
Apogee South Beach is a 67-unit ultra-luxury condominium located in the South of Fifth neighborhood of South Beach. The development includes only three penthouse residences, one of which is currently owned by Miami Heat president, Patrick Riley.
Penthouse A is now the third highest priced condo currently on the market in South of Fifth. At this time, two separate condos (PH-2 and unit 3603) at Continuum South Beach South Tower are listed for a whopping $35M each.
Apogee Beach Renderings
As many of you already know, Apogee Beach is a luxury beachfront condo development which will be located in Hallandale Beach. Pre-construction sales recently began and 40% of the total 49 units at Apogee Beach have already been sold. The developer behind the project is The Related Group which of course also developed Apogee South Beach, one of South Florida’s most exclusive condo developments. Apogee South Beach set the bar extremely high when it comes to quality and attention to detail. Name recognition and reputation go a long way in this business and perhaps there’s no better name for a new condo development to be associated with than “Apogee”.
After reviewing the renderings for Apogee Beach, however, I could not help but think that it bears an uncanny resemblance to two Miami condo developments – 50 Biscayne and Icon Brickell. The lobby for Apogee Beach appears to be a clone of the lobby at 50 Biscayne while the kitchen and bathroom are glaringly similar to those at Icon Brickell. What do you all think?
Apogee Beach rendering
50 Biscayne’s lobby
50 Biscayne’s lobby
Apogee Beach rendering
Icon Brickell’s bathroom
Apogee Beach rendering
Icon Brickell’s kitchen
Ten Highest Closed Sales Within the Past Six Months in Miami-Dade County
The following are the 10 highest luxury condo sales that have closed in Miami-Dade County within the past six months:
The Setai South Beach – Penthouse B – 4 bedroom/4 bath (6,208 square feet) – This condo sold for $15M, or $2,416 per square foot, on June 4, 2010. It was listed for $19,999,999.
Santa Maria – Unit 4901 – 3 bedroom/5 bath (10,000 square feet) – This condo sold for $11M, or $1,100 per square foot, on May 21, 2010. It was listed for $12.9M.
Fontaintebleau II – Penthouse NO – 5 bedroom/5 bath (4,500 square feet) – This condo sold for $9M, or $2,000 per square foot, on May 14, 2010. It was listed for $9.8M.
One Bal Harbour – Penthouse 2108 – 4 bedroom/4.5 bath (5,262 square feet) – This condo sold for $8.7M, or 1,653 per square foot, on May 25, 2010. It was listed for $12M.
Villa del Mare – Unit 7223 – 4 bedroom/5 bath/2 half bath (6,820 square feet) – This condo sold for $6.75M, or $990 per square foot, on March 1, 2010. It was listed for $8M.
Apogee South Beach – Unit 904 – 4 bedroom/4.5 bath (4,154 square feet) – This condo sold for $6.55M, or $1,577 per square foot, on May 21, 2010. It was listed for $6.85M.
Apogee South Beach – Unit 1801 – 4 bedroom/3 bath (4,154 square feet) – This condo sold for $5.9M, or $1,420 per square foot, on April 16, 2010. It was listed for $6,795,000.
Apogee South Beach – Unit 604 – 4 bedroom/3.5 bath (4,154 square feet) – This condo sold for $5.8M, or $1,396 per square foot, on June 18, 2010. It was listed for $6.25M.
Apogee South Beach – Unit 704 – 4 bedroom/3.5 bath (4,154 square feet) – This condo sold for $5.3M, or $1,276 per square foot, on March 18, 2010. It was listed for $5.8M.
Ocean Tower One – Unit 501 – 4 bedroom/5.5 bath (5,403 square feet) – This condo sold for $5.2M, or $962 per square foot, on June 3, 2010. It was listed for $6.25M.
6 Bedroom Penthouse at Jade Beach Goes Under Contract – Asking Price $11M
Yesterday, the spectacular 6 bedroom/7.5 bath penthouse at Jade Beach went under contract providing additional evidence that the luxury market in South Florida is flourishing. The 3-story penthouse has 8,210 square feet of interior and 5,791 square feet of terrace. The asking price is $11M, or $1340 per square foot, and is being offered fully furnished. No word yet on who the buyer might be or how much was offered.
Recent Luxury Sales within the Past 30 Days
88 La Gorce sold for $16M on June 11, 2010
The Setai Penthouse B sold for $15m on June 4, 2010
Santa Maria Penthouse 4901 sold for $11M on May 21, 2010
One Bal Harbour Penthouse 2108 sold for $8.7M on May 25, 2010
Ocean Tower One #501 sold for $5.2M on June 3, 2010
Developer Blowout at The Plaza on Brickell
In this video segment, we discuss the developer blowout sale at The Plaza on Brickell that was announced Thursday afternoon. I received word just 24 hours later that 16 units had already been placed under contract. This is now the best deal in Brickell but availability won’t last long. Later in the video, we also discuss the uptick in luxury condo sales in 2010. We end the show with a picture slideshow of Penthouse A at Apogee South Beach which came onto the market last month with an asking price of $16M.
South of Fifth – Miami Beach’s Ultra-Luxury Neighborhood
The video above is meant for the non-local buyer who may not be familiar with the various neighborhoods throughout South Florida. South of Fifth, also known as SoFi, is a neighborhood that encompasses the five southern most blocks of South Beach (and therefore Miami Beach). Once regarded as one of the most dangerous neighborhoods in South Florida, South of Fifth is now considered to be one of the safest and most luxurious for condo living. The revitalization of the area within the past two decades has been remarkable, attributed mainly to visionary Thomas Kramer.
One of the main attractions for South of Fifth condos is South Pointe Park which reopened in March 2009 after undergoing a $22M renovation. The neighborhood also has world-renowned restaurants Joe’s Stone Crab and Prime 112 as well as local favorites Devito South Beach, Smith & Wollensky and China Grill. South of Fifth is reputed for being a clean, quiet, exclusive neighborhood away from the congestion of South Beach but within walking distance to all else that South Beach has to offer. The beach at the southernmost point of Miami Beach, in my opinion, is also one of the most beautiful beaches in South Florida.
Below, you will find a list of the South of Fifth condo buildings that were featured in the video. Click on each link to view the condos currently available for sale.
Below, you will find a video tour of unit 2001 at Apogee. Apogee is located at 800 South Pointe Drive in the South of Fifth neighborhood of South Beach. Apogee is considered to be one of the finest condo buildings in all of South Florida. Unit 2001 is a 4 bedroom + media room/3.5 bath condo with 4,154 square feet of interior and 2,441 square feet of terrace. The asking price of this 20th floor corner unit is $7.75M, or $1866 per square foot. Unit 2004, a 4 bedroom of the same size located on the opposite corner, closed in July 2008 for $7.3M, or $1757 per square foot. It was sold decorator ready just as unit 2001 is being sold. Contact us at 305-428-3860 if you have any questions or would like to visit unit 2001 in person.
South Beach & Miami Beach Closed Condo Sales – November 2009
South Beach Closed Condo Sales – November 2009 – There were 78 closed condo sales in South Beach last month. The average sales price of these condos was $342 per square foot.
Miami Beach Closed Condo Sales – November 2009 – 59 condos in Miami Beach closed in November. One of the sales did not include the final sales figure. The average price per square foot of the other 58 closed sales was $251.
Ten Recent Multi-Million Dollar Condo Closings in Miami-Dade County (Past 6 Months)
The following are the 10 highest luxury condo sales that have closed in Miami-Dade County within the past six months:
Continuum South Tower – Penthouse 1 – 5 bedroom/7.5 bath (7,374 square feet) – This penthouse sold for $9,900,000, or $1,343 per square foot, on May 15, 2009. It was listed for $14,950,000.
Apogee South Beach – Unit 1104 – 4 bedroom/5 bath (4,154 square feet) – This condo sold for $6,000,000, or $1,444 per square foot, on May 4, 2009. It was listed for $6,800,000.
Apogee South Beach – Unit 1404 – 4 bedroom/3.5 bath (4,154 square feet) – This condo sold for $6,000,000, or $1,444 per square foot, on June 17, 2009. It was listed for $6,800,000.
Apogee South Beach – Unit 1201 – 4 bedroom/3.5 bath (4,154 square feet) – This condo sold for $5,450,000, or $1,312 per square foot, on July 23, 2009. It was listed for $5,750,000.
One Bal Harbour – Unit 2008 – 4 bedroom/4.5 bath (5,266 square feet) – This condo sold for $5,200,000, or $987 per square foot, on September 29, 2009. It was listed for $6,299,000.
Acqualina – Penthouse 4506 – 5 bedroom/6 bath (6,419 square feet) – This penthouse sold for $4,999,000, or $779 per square foot, on August 2, 2009. It was listed for $7,900,000.
Apogee South Beach – Unit 1101 – 4 bedroom/3.5 bath (4,154 square feet) – This condo sold for $4,800,000, or $1,156 per square foot, on July 30, 2009. It was listed for $4,999,990.
Ocean Tower I – Unit 401 – 4 bedroom/5.5 bath (5,403 square feet) – This condo sold for $4,600,000, or $851 per square foot, on June 9, 2009. It was listed for $5,490,000.
Apogee South Beach – Unit 1902 – 3 bedroom/3.5 bath (3,103 square feet) – This condo sold for $4,300,000, or $1,387 per square foot, on September 30, 2009. It was listed for $4,975,000.
Oceanside at Fisher Island – Unit 7161 – 3 bedroom/4.5 bath (3,959 square feet) – This condo sold for $3,950,000, or $998 per square foot, on June 1, 2009. It was listed for $4,500,000.
South of Fifth Luxury Condo Building Pictures
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.
