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This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.
Third Quarter 2019 Miami Beach Luxury Condo Report
This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.
2
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
PROJECT One Ocean Apogee Continuum South Continuum North
DEVELOPER Related Group Related Bruce Eichner Bruce Eichner
ARCHITECT Enrique Norten/TEN Arquitectos Sieger-Suarez Fullerton-Diaz Sieger-Suarez
ADDRESS 1 Collins Ave. 800 S. Pointe Dr. 100 S. Pointe Dr. 50 S. Pointe Dr.
PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach
FLOORS 7 22 40 37
UNITS 50 67 318 203
COMPLETION DATE 2016 2007 2002 2007
PROJECT ICON South Beach The Setai Faena House Edition
DEVELOPER Related Setai Group Faena Group Ian Schrager
ARCHITECT Michael Graves Alayo & Denniston Foster +Partners John Pawson
ADDRESS 450 Alton Rd. 101 20th St. 3315 Collins Ave. 2901 Collins Ave.
PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach
FLOORS 35, 40 41 16 11
UNITS 290 163 44 26
COMPLETION DATE 2005 2004 2015 2014
Miami Beach Market Report Condo Resales
3
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
PROJECT The St. Regis Marea Miami Beach South Pointe Towers Murano Grande
DEVELOPER Starwood Related John A. Hinson Related
ARCHITECT Sieger-Suarez Sieger-Suarez – Sieger-Suarez
ADDRESS 9701, 9703, & 9705 Collins Ave. 801 S Pointe Dr. 400 South Pointe Dr. 400 Alton Rd.
PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach
FLOORS 24 8 25 25, 31, 37
UNITS 268 30 208 270
COMPLETION DATE 2012 2015 1987 2003
PROJECT Murano Portofino W Hotel/Residences One Hotel & Homes Glass
DEVELOPER Related Tristar, Related, Starwood
LeFrak and Starwood Capital Terra Group
ARCHITECT Sieger-Suarez Nichols Brosch & Costas Kondylis HKS Inc. & Kobi Karp Rene Gonzalez
ADDRESS 1000 S. Pointe Dr. 2201 Collins Ave. 102 24th St. 120 Ocean Dr.
PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach
FLOORS 17, 28, 37 20 17 18
UNITS 189 511 158 10
COMPLETION DATE 2002 2008 2015 2015
Miami Beach Market Report Condo Resales
4
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
$11,5
00,0
00
$5,3
50,0
00
$4,2
50,0
00
$1,7
32,7
00
$2,5
15,0
00
$4,7
00,0
00
$3,8
00,0
00
$845
,000
$2,5
50,0
00
$3,5
00,0
00
k
2M
4M
6M
8M
10M
12M
14M
$5,216,667
$2,150,000
$5,000,000
$2,000,000 $1,748,750
$3,850,000
$882,000
$6,475,000
$837,500
$5,2
16,6
67
$2,15
0,00
0
$5,0
00,0
00
$2,0
00,0
00
$1,7
48,7
50 $3,8
50,0
00
$6,4
75,0
00
$837
,500
k
1M
2M
3M
4M
5M
6M
7M
1 HOTEL + HOMES
APOGEE
CONTINU
UM NO
RTH
CONTINU
UM SOUTH
EDITION
FAENA HOUSE
GLASS
ICON
MAREA
MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN
SETAI
SOUTH POIN
TE
ST REGIS
W HOTEL & RESIDENCES
2018
$3,3
50,0
00
$781
,500
$4,2
12,5
00
$1,7
12,5
00
$1,5
97,6
00
$5,0
00,0
00
$3,9
25,0
00
$2,0
62,5
00
k
1M
2M
3M
4M
5M
6M
1 HOTEL + HOMES
APOGEE
CONTINU
UM NO
RTH
CONTINU
UM SOUTH
EDITION
FAENA HOUSE
GLASS
ICON
MAREA
MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN Se
tai
SOUTH POIN
TE
ST REGIS
W HOTEL &…#OF SALES
Q3
2019
AVG
. SA
LES
#OF SALES
Q3
2018
A
VG. S
ALE
SMiami Beach Market Report Condo Resales Year Over Year Sales
$2,2
00,0
00
$6,15
0,00
0
$950
,000
$1,2
10,0
00
$2,0
91,2
50
$965
,000
$4,5
08,3
33
$1,0
50,0
00
k
1M2M3M4M5M6M7M
1 HOTEL +
…
APOGEE
CONTINUU…
CONTINUU…
EDITIO
N
FAENA…
GLASS
ICON
MAREA
MURANO…
MURANO…
ONE OCEA
NSeta
i
SOUTH…
ST REGIS
W H
OTEL &…
#OF SALES
Q3
2017
A
VG. S
ALE
S
1 0 0 2 0 0 0 1 0 1 0 0 2 1 3 1
1 0 2 2 0 0 0 5 0 4 0 1 1 1 1 2
2 0 2 4 0 0 0 2 0 5 1 0 0 0 3 2
5
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
264 21
Active Closed
Total # of Active & Closed Units
CLOSED SALESAverage Sale Price $2,734,571
Average Sale Price Per Square Foot $1,410
Median Sale Price $2,400,000
Median Sale Price Per Square Foot $1,439
Number of Sales (Closed) 21
Days on Market 155
ACTIVE LISTINGSAverage List Price $3,905,362
Average List Price Per Square Foot $1,872
Median List Price $2,962,500
Median List Price Per Square Foot $1,750
Listing Inventory (Active) 264
Listing Discount From Original List Price 15%
Absorption Period (Months) 37.7
Condo Mix # Sold Sales Share Med. Sales Price
Studio 0 0% $0
1 - bedroom 4 19% $1,035,000
2 - bedroom 11 52% $2,400,000
3 - bedroom 6 29% $4,325,000
4 - bedroom 0 0% $0
5 - bedroom 0 0% $0
Total Sales Volume $57,426,000
$3,905,362
$2,734,571$2,962,500
$2,400,000
$1,872
$1,410
$1,750
$1,439
k
k
k
1k
1k
1k
1k
1k
2k
2k
2k
k
1M
2M
3M
4M
5M
Active Closed
Average and Median Price & PPSF
Average Median Avg. PPSF Median PPSF
$3,905,362
$2,734,571$2,962,500
$2,400,000
$1,872
$1,410
$1,750
$1,439
k
k
k
1k
1k
1k
1k
1k
2k
2k
2k
k
1M
2M
3M
4M
5M
Active Closed
Average and Median Price & PPSF
Average Median Avg. PPSF Median PPSF
Average and Median Price & PPSF
1
3
9
5
2
$500 -‐ $1,000
$1,000 -‐ $1,500
$1,500 -‐ $2,000
$2,000 -‐ $2,500
$2,500 -‐ $3,000
Number of Sales by PPSF
366
21111
0 1 2 3 4 5 6 7
Below $999,999
$1,000,000 -‐ $1,999,999
$2,000,000 -‐ $2,999,999
$3,000,000 -‐ $3,999,999
$4,000,000 -‐ $4,999,999
$5,000,000 -‐ $5,999,999
$6,000,000 -‐ $6,999,999
Above $8,000,000
Number of Sales By Absolute Dollar Amount
$3,830,430
$2,982,152$2,872,500$2,550,000
$1,868
$1,346
$1,735
$1,399
k
k
k
1k
1k
1k
1k
1k
2k
2k
2k
k
1M
2M
3M
4M
5M
Active Closed
Average and Median Price & PPSF
Average Median Avg. PPSF Median PPSF
$3,830,430
$2,982,152$2,872,500$2,550,000
$1,868
$1,346
$1,735
$1,399
k
k
k
1k
1k
1k
1k
1k
2k
2k
2k
k
1M
2M
3M
4M
5M
Active Closed
Average and Median Price & PPSF
Average Median Avg. PPSF Median PPSF
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales Market Snapshot
6
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
$1,562 $1,595
$1,174
6 6
9
0
5
10
15
20
$0
$500
$1,000
$1,500
$2,000
Jul Aug Sep
PPSF # Closed Units
$1,562 $1,595
$1,174
151
192
124
0
100
200
300
$0
$500
$1,000
$1,500
$2,000
Jul Aug Sep
PPSF DOM
From July to September,
the number of sales
grew by 3 sales and the
average price per SQFT
dropped by $388 dollars.
The average Days on Market
dropped by 27 days, from
July to September.
Average PPSF and # of Closed Units by Month
Average $PSF and DOM by Month
$1,014
$1,672 $1,640
11
4
8
0
5
10
15
20
$0
$500
$1,000
$1,500
$2,000
Jul Aug Sep
PPSF # Closed Units
$1,014
$1,672 $1,640
201
304
95
0
100
200
300
400
$0
$500
$1,000
$1,500
$2,000
Jul Aug Sep
PPSF DOM
MIAMI BEACH MARKET REPORT CONDO RESALES Q2 2018 (APRIL-JUNE) SALES
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
7
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
Average Active & Closed $PSF and Total # of Units Sold by Building
Average Active & Closed Price and Total # of Units Sold by Building
$1,885
$2,754
$2,200 $2,038 $2,240
$2,812
$2,369
$1,087
$1,508$1,165
$1,628 $1,796
$2,636
$1,189
$2,138$1,923
$1,738
$1,174
$1,983
$933 $820
$1,486 $1,461
$2,009
2 2
4
2
5
1
3
2
0
1
2
3
4
5
6
7
8
k
1k
2k
3k
1 HOTEL &HOMES
APOGEE CONTINUUMNORTH
CONTINUUMSOUTH
EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE
MURANOPORTOFINO
ONE OCEAN SETAI SOUTHPOINTE
TOWERS
ST REGIS W SOUTHBEACH
Active Closed # Closed Units
$2,799,467
$8,910,000
$5,133,704 $4,455,914
$3,690,000
$8,729,000
$6,250,000
$2,029,538
$3,550,556$2,982,782
$3,667,278$4,711,708
$3,578,750
$1,603,273
$5,723,441
$1,720,732
$3,350,000
$781,500
$4,212,500
$1,712,500$1,597,600
$5,000,000
$3,925,000
$2,062,5002 2
4
2
5
1
3
2
0
1
2
3
4
5
6
7
8
k
1M
2M
3M
4M
5M
6M
7M
8M
9M
10M
1 HOTEL &HOMES
APOGEE CONTINUUMNORTH
CONTINUUMSOUTH
EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE
MURANOPORTOFINO
ONE OCEAN SETAI SOUTH POINTETOWERS
ST REGIS W SOUTHBEACH
Active Closed # Closed Units
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
$1,817
$2,940
$2,019$2,335
$2,152
$3,187
$2,803
$1,117
$1,750
$1,272 $1,151
$1,959$1,749
$2,689
$1,954$2,126
$798
$2,131
$1,799$961 $1,103
$1,830
$2,971
$1,334
$1,8795
2 2
5
4
1 1 1
2
0
1
2
3
4
5
6
7
8
k
1k
2k
3k
4k
1 HOTEL AND HOMES
APOGEE CONTINUUM NORTH
CONTINUUM SOUTH
EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES
Active Closed # Closed Units
$1,817
$2,940
$2,019$2,335
$2,152
$3,187
$2,803
$1,117
$1,750
$1,272 $1,151
$1,959$1,749
$2,689
$1,954$2,126
$798
$2,131
$1,799$961 $1,103
$1,830
$2,971
$1,334
$1,8795
2 2
5
4
1 1 1
2
0
1
2
3
4
5
6
7
8
k
1k
2k
3k
4k
1 HOTEL AND HOMES
APOGEE CONTINUUM NORTH
CONTINUUM SOUTH
EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES
Active Closed # Closed Units
8
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
Average Active PPSF by Building and Unit Type
Average Closed PPSF by Building and Unit Type
$1,294
$2,012
$1,588
$1,480$1,765
$1,956$2,110
$808
$1,197
$2,356
$1,149
$1,964
$1,866
$2,137
$1,774 $1,947
$2,583$2,702
$2,451
$938$1,042
$807
$1,435$1,228
$2,631
$1,125
$1,831
$1,982
$2,154
$2,754
$2,824
$2,319$2,121
$2,287
$1,555 $1,532 $1,420
$1,806$1,589 $1,438
$2,412
$2,789
$3,273
$1,083
$2,300
$1,873
$2,537
$3,583
$2,073$1,719
k
1k
2k
3k
4k
1 HOTEL ANDHOMES
APOGEE CONTINUUMNORTH
CONTINUUMSOUTH
EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE
MURANOPORTOFINO
ONE OCEAN SETAI SOUTH POINTETOWERS
ST REGIS W SOUTHBEACH
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
$1,174 $1,499
$1,678$1,949
$766 $820$1,403
$2,341
$1,738
$2,534
$1,101
$1,486 $1,577
k
1k
2k
3k
1 HOTEL ANDHOMES
APOGEE CONTINUUMNORTH
CONTINUUMSOUTH
EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE
MURANOPORTOFINO
ONE OCEAN SETAI SOUTH POINTETOWERS
ST REGIS W SOUTHBEACH
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
$1,948
$1,599 $1,404 $1,588 $1,517
$787
$888
$2,557
$1,149
$1,970 $1,795
$2,158
$1,767 $1,857
$2,768 $2,792$2,577
$1,019$1,147
$862
$1,437 $1,413
$2,586
$1,127
$1,862
$2,213$2,041
$2,658
$3,042
$2,095$2,004
$2,417
$1,576 $1,643$1,378
$1,799$1,935
$3,147
$1,249
$2,187
$2,425$2,865
$2,978
$4,289
$3,499
$1,083
$2,300
$1,493 $1,520
$3,381
$2,051
$3,649
$1,719
k
1k
2k
3k
4k
5k
1 HOTEL ANDHOMES
APOGEE CONTINUUMNORTH
CONTINUUMSOUTH
EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE
MURANOPORTOFINO
ONE OCEAN SETAI SOUTH POINTETOWERS
ST REGIS W SOUTHBEACH
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
9
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
Of the 16 comparable condominiums noted, 8 had sales in Q3 2019 (50%).
Murano Grande held the highest number of closings at 5 sales.
The St. Regis held the highest number of active inventory at 34 listings.
Continuum South held the lowest average Days on Market at 111 days.
15
5
27
29
5
5
2
26
9
28
27
12
24
11
34
19
2
2
4
2
5
1
3
2
0 5 10 15 20 25 30 35 40
1 HOTEL & HOMES
APOGEE
CONTINUUM NORTH
CONTINUUM SOUTH
EDITION
FAENA HOUSE
GLASS
ICON
MAREA
MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN
SETAI
SOUTH POINTE TOWERS
ST REGIS
W SOUTH BEACH
# Closed Units # Active Units
Total # of Active and Closed Units by Building
173
252
111
171 158
113
156126
2 2
4
2
5
1
3
2
0
1
2
3
4
5
6
0
50
100
150
200
250
300
1 HOTEL &
HOMES
APOGEE
CONTINUUM NORTH
CONTINUUM SOUTH
EDITION
FAENA HOUSE
GLASSIC
ON
MAREA
MURANO GRANDE
MURANO PORTOFINO
ONE OCEAN
SETAI
SOUTH POINTE TOW
ERS
ST REGIS
W SOUTH BEACH
DOM # Closed Units
Average Days On Market and Total # of Units Sold by Building
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
175
225
331
76
156
252
172
29
368
5
2 2
5
4
1 1 1
2
0
1
2
3
4
5
6
0
50
100
150
200
250
300
350
400 DOM # Closed Units
10
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
$1,892$1,692 $1,692
$2,021
$2,431
$1,719
$1,381$1,265
$1,666
4
11
6
0
2
4
6
8
10
12
k
1k
2k
3k
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
Active Closed # Closed Units
Average Active & Closed $PSF and # of Units Sold by Unit Type
Two bedroom units continue
to hold the highest number of
closings at 11 sales.
Two bedroom units hold
an average sales price of
$2,198,909 and a closed price
per SQFT of $1,265.
$1,107,000$1,655,583
$2,651,408
$5,637,237
$8,302,956
$6,500,000
$1,147,000$2,198,909
$4,807,1434
11
6
0
2
4
6
8
10
12
k
4M
8M
12M
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
Active Closed # Closed Units
Average Active & Closed Price and Total # of Units Sold by Unit Type
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
11
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report
188
100
217
4
11
6
0
2
4
6
8
10
12
0
50
100
150
200
250
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
DOM # Closed Units
Average Days On Market and Total # of Units Sold by Unit Type
Two bedroom units
continue to hold the
highest active inventory at
119 listings.
Three bedroom units hold
the highest Days on Market
at 217 days.
Studios, four and five
bedroom units hold the
lowest closings at 0
sales each.
Two bedroom units hold
the lowest average Days on
Market at 100 days with the
most sales.
6
41
119
88
23
1
4
11
6
0 20 40 60 80 100 120 140
Studio
1 BR
2 BR
3 BR
4 BR
5 BR
# Closed Units # Active Units
Total # of Active and Closed Units by Unit Type
Miami Beach Market Report Condo Resales Q3 2019 (Jul-Sep) Sales
354
92
245
104
2
10 10
10
2
4
6
8
10
12
0
50
100
150
200
250
300
350
400
Studio 1 BR 2 BR 3 BR 4 BR 5 BR
DOM # Closed Units
Active units represent the number of currently active units on 10/1/19. Source for all re-sale values: flexmls.com.
CONTINUUM 40 S Pointe Dr, Suite 110, Miami Beach, FL 33139 t: 305.695.1111
SUNSET HARBOUR 1820 Bay Road, Miami Beach, FL 33139 t: 305.726.0100
KEY BISCAYNE 755 Crandon Boulevard, Key Biscayne, FL 33149 t: 305.361.6666
COCONUT GROVE 2665 S Bayshore Dr, Suite 100, Miami, FL 33133 t: 305.666.1800
SOUTH MIAMI 7500 Red Road, Suite A, South Miami, FL 33143 t: 305.662.9975
bhsmiami.com Q3 2019 Miami Beach Luxury Condo Report