57 Ocean Miami Beach – How Does it Compare to other Miami Beach Luxury Condos for Sale?
57 Ocean in Miami Beach was announced just a few months ago. The luxury condo comes at a peculiar time, as the condo inventory in Miami Beach is seeing a sharp increase and the market is experiencing a softening. Although 57 Ocean won’t be delivered until 2021, we reckon the development team must have enough confidence in the condo’s success to start building this luxury tower at this very moment. We therefore compared 57 Ocean with several other high-end new constructions around the beach and Surfside to see if 57 Ocean will offer true luxury.
First of all, what is luxury? It is a term, which is often lightly or too easily used in Miami real estate for everything that is above $300K in a desired residential area. As true Miami market analysts we designed a list of elements that are valued by our ultra-luxury condo buyers and a list of values that is often seen in condos that hold their value over time. These characteristics can be found in the table and include water views, balcony sizes, ceilings heights etc. Please check the data in the table and read our descriptions to learn more about 57 Ocean and how it compares to other just released luxury condos.
57 Ocean will offer 81 units ranging from 1,245 SF to 3,623 SF (This includes the Penthouses. Units can be combined to create larger living spaces) on a 1.46 acre site. The building will provide for unobstructed ocean views to the east, but there are high-rise condos North and South of the condo, which might obstruct some of the side views. Some of the smallest and the most affordable units will only face west and will not have any ocean views. It is therefore essential to choose a good line in the condo. Balconies are quite large for the unit sizes ranging from 33% to 50%+ of the interior sizes. The penthouses at 57 Ocean will have private garages, other than that there is no self parking or assigned parking, everyone will need to use the 24/7 valet services. The best line in the building is the 01 line that offers southeast views.
Asking prices here range between $1,200 per SF and $2,300 per SF with an average of $1,850 per SF. The 2 bedroom units in the back (West views) start selling for $1.5M and ocean facing 2 bedrooms plus den start selling at $3.2M. Units go up till $8M with 57 Ocean Penthouse prices upon request. Also check the amenities and services at 57 Ocean
Eighty Seven Park is a condo that has repeatedly made it on our list of top 10 Miami Condos for sale. This project is truly well done and offers 70 units over 18 floors, which range from 1,000 SF to 4,140 SF with penthouses that start from 4,196 SF. The project itself sits on a 3 acres lot of which 2 acres will become a private park (on the north side). On the south-side of the building there is a 35 acres city-park, which will ensure unobstructed water views to the south. As the condo is surrounded by gardens and park, views are very clear! Another desired characteristic of Eighty Seven Park are the extremely large balcony sizes ranging from 36% to 87% of the units’ interior sizes with an average of 68%. The lower floor residences offer 564 to 1715 SF while the higher floor residences offer 2,280 to 2,867 SF of terrace. The 87 Park penthouses offer 2,800 SF or 4,500 SF+ of terrace with additional rooftops of 4,500 SF.
The larger units offer two assigned parking spots, which is a desired feature with buyers. The condo is located on the last lot in Miami Beach, just before Surfside starts, so it offers a more quiet and relaxed vibe than the rest of Miami Beach. As per March 2019, the 1 bedrooms start selling at $2,150,000, 2 bedrooms at $3.4M, 3 bedrooms at $6.7M and 4 bedrooms start selling at $8.95M
Monad Terrace is a brand new construction project with 59 units over two towers on a 1.6 acre lot. Units range between 2,027 and 14,000 SF with 2 till 5 bedrooms. 90% Of the building has west (Bayview) exposure, which is considered the premium view at Monad Terrace. You can see ocean water on the east side starting on the 6th floor, but these lines are not sold as water facing units, because the view is predominantly the buildings of South Beach, treetops, etc. To the north and the south of Monad Terrace there are condos.
Floor plans A and F are in the best position, directly on the water and are therefore considered the best lines in the condo. However, there are some great floor plans that are in the east section of the property with attractive prices. The penthouses are also a great value. Penthouse B has the longest private condo pool in South Beach, and offers 5,350 interior SF and 7697 exterior SF.
Monad Terrace’ selling points:
Design Features: The Sawtooth honeycomb glass curtain walls, 12,000 SF Lagoon and Vertical landscaping are among the most notable design features. Jean Nouvel is the architect and he is the only Pritzker winning architect to do a residential building in South Beach.
Finishes: JDS Development is known to delivered a very high level of finish.
South Beach Location/View
Monad Terrace starts selling at $1.5M for an east-facing (will have some ocean views) 2 bedroom on the 7th floor which offers 1,450 SF. Read more about Monad Terrace, its residences and amenities here
Fendi is a resale condo that always makes it in our list of top 10 Miami condos for sale. The large residences range between 3,325 SF and 7,000+ SF and there are only 59 units on 3 acres of land. All units are flow-through and have unobstructed ocean views. The balconies are deep with up to 12 ft deep glass-railed terraces overlooking the ocean and the bay and the building is extremely well serviced and offers high-end finishes. The corner units (The 01 and 06 line) offer around 1,600 to 1,800 SF of terrace, other lines offer between 500 and 700 SF of terrace. The penthouses offer 1,000 SF to almost 2,000 SF of terrace. As this is the only condo in this list that is already delivered there is proof that the developer actually delivered superior quality. Please call me for a private showing of any of the Fendi condo units for sale .
Comparing all the condos with one another, we need to mention that most condos (except for Fendi) are in pre-construction and therefore finishes are hard to judge at this moment. Some development teams are better than others and have a better track record. Call me (+1.305.508.0899) for more details on this!
Whatever condo provides most value depends on your own personal wishes as well. Eighty Seven Park has strong selling points, but maybe you want to be more South, closer to where the action is. Fendi is a very well finished condo, but maybe you want a brand new condo. 57 Ocean offers superb ocean views, but maybe you want to self park your condo or prefer a fully finished pre-construction condo. Monad terrace offers the most affordable prices per SF, but this condo is not selling ocean views.
Please call us for more information and the most up to date prices for your preferred line/floor plan. The floor plan within your condo is of equal importance as the actual condo, so please call us for more information and our unfiltered opinion on all of Miami’s condos for sale
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