The 10 best Condos in Miami. Updated 2023

The Ten Best Luxury Resale Condos in Miami for 2023 – Ranked!

My 2023 ranking of the best Condos in Miami is based on a scored combination of what clients consider to be the most important characteristics: location, services, floor plans, and privacy. Unsurprisingly these condos also happen to achieve the highest price per sqft while appreciating the most over the last 5 years. These top 10 provide consistent quality. But how did we analyze performance? We analyzed in part by using our Condo Geeks tool to historically track back and see their price per sqft performance.

Read on in the article to why I rank these condos, the 10 best luxury condos in Miami! Click on the links to see what is available for sale.

We started the ‘Best Condos in Miami / Resale Condos section years ago!

What are the ten best Condos in Miami? We originally addressed this with an article back in 2020. Now we have updated it for 2023 and added details on the best floor plans. After reading this article (which we highly recommend reading first), you can read the 2023 article here. Thorough Condo researchers may also be interested to also learning what are “The highest appreciating Condos of 2018-2023’.

Original article content is also detailed below…

I will state from the get-go that this article is not about new construction condos. This is an article about the best existing tangible condos in Miami. If you want the best New Construction Condos, then we have this article for you. With that said, even if you’re also considering new construction you should still read this article first. As new construction condo purchase decisions must consider existing property values to ensure recognition of proper value.

The reading of this original article is also useful to those looking for the best condos in Miami in 2023. By reflecting on the historical changes and performance, we can take into consideration the robustness of those Condos. Interestingly there are many condos that still rank in the top 10 in 2023 as they did in 2020.

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Changes Between the Top 10 Condos in 2020 and 2023

Below are the Top 10 Best Miami Condos ranked from 1 to 10, taken from our 2020 ranking. You will notice some changes from our 2023 rankings, and some remain top of the food chain – a good sign of future performance! Click the Condo title to browse all units currently available in the building.

2020 No.1 Park Grove in Coconut Grove

Park Grove in Coconut Grove is a new architectural masterpiece by Rem Koolhaas of OMA. The Park Grove condo project will feature three towers and 298 finished residences. The condo is located on a 5.2-acre waterfront park with over 50,000 Sq. Ft of amenities and a major collection of art displayed throughout the property.

In 2023, we have this condo at Number 4. It is still one of my favorites and the best in Coconut Grove. Appreciation has been staggering here! Watch out for Vita though, coming in 2025!

2020 No.2 Eighty Seven Park in Miami Beach

Eighty Seven Park (87 Park) by Renzo Piano is a selection of private Miami Beach oceanfront residences designed to seamlessly embrace the park and ocean in Miami Beach’s newest neighborhood. The project is Pritzker Award-Winning architect, Renzo Piano’s first residential project in the United States. Located on an oceanfront 3 acres lot, the residences will be located on 1 acre while 2 acres on the north side will be a private park for the building.

In 2023 this condominium comes in Number 2! It is exceptional and will remain so for some time – particularly the South units (watch the video at the beginning, and you will see an 02/06 Combo). For those interested in new construction. Watch out for the new Perigon and Shore Club projects. Both projects are slated for 2024/2025.

2020 No.3 Surf Club Four Seasons Residences in Surfside

The Surf Club Four Seasons Private Residences is situated on eight acres of oceanfront gardens, palm stands, and pathways. Designed by Pritzker Prize-winning architect Richard Meier, in collaboration with architect Kobi Karp, two transparent 12-story residential buildings and an intimate Four Seasons Hotel incorporate the historic 1930 Russell Pancoast-designed Surf Club, preserving its legendary past. The project combines luxury and legendary Four Seasons service and tailors it to match the understated elegance of this seaside location. The Surf Club Four Seasons Private Residences offers abundant options. Elegant venues in the historic Surf Club for intimate entertaining.

By 2023 this condominium rises to number 1! The Surf Club Four Seasons has appreciated 75% in just three years. This condominium is selling at prices over $6,000 per SqFt in 2022. A testament to how hospitality brands have ruled supreme!

2020 No.4 One Hotel and Homes South Beach

1 Hotel & Homes South Beach is 156 residences inspired by its incredible beachfront location. But, the ocean’s influence does not end with the view. Each home has been designed to capture more natural light and bring the sounds and textures of the beach and water’s edge into the living spaces.

One Hotel and Homes is still a good condo in 2022 and had some significant sales, but this fell from the Top 10 for 2023. The hotel elements detract from its value, and the South Beach scene has lost its appeal against Surfside. Perhaps it will come back when the Raleigh Shore Clubs gets developed, which could rejuvenate the area.

2020 No.5 Faena House in Miami Beach

Faena House Miami Beach is located in the heart of Miami Beach and is a real find. The Lord Norman Foster-designed condo tower next to the Faena Saxony hotel is designed to be aerodynamic and above the flood plane. It has balconies that can be used like Brazilian verandas, connecting the various spaces in your condominium. These deep wrap-around balconies are called aleros that feel like rooms and are interconnected, doubling as hallways. It will have wide pieces of glass for windows and sliding doors. The super-minimalistic kitchens will be fancy and futuristic as a kitchen can be.

In 2023 this condominium ranks Number 7. Still desirable because the Faena has exceptional service as one of the best hotels on the planet. The floor plans and units lack the architectural strength of other top 5 Condos with lower ceilings and a more dated feel.

2020 No.6 321 Ocean in South of Fifth

321 Ocean is an exclusive collection of 21 luxury residences in the heart of the most desirable neighborhood in Miami Beach, South of Fifth. Each home is a unique creation, providing an intimate and breathtaking setting. Residences provide breathtaking Atlantic Ocean and City Views. Residents enjoy private elevator lobbies for each residence and high ceilings with floor-to-ceiling glass.

By 2023 the novelty of this boutique condo has fallen away. A lack of high-level service and a general feel has made this condominium look expensive in comparison to others. 321 Ocean drops away from the top 10 in 2023!

2020 No.7 Regalia in Sunny Isles Beach

Regalia has been awarded the 2014-2015 Best High Rise Residential Development in the Americas at the International Property Awards in London. A 46-story high residential tower with only 39 exclusive residences. Regalia offers just one residence per floor, which is unique for a Sunny Isles luxury condo.

A building plagued with litigation over poor finishes, leaks, and other problems. As with times before, Sunny Isles has steep competition from new condos, and the novelty of a one-unit-per-floor experience has meant ballooning HOA fees with a lack of benefits going along with it. Regalia drops out of the Top 10 and will not return in my opinion!

2020 No.8 Porsche Design Tower in Sunny Isles Beach

The Porsche Design Tower in Sunny Isles Beach is the first Porsche condo ever built, appropriately named P001. The Porsche Design Tower is unique with its Robotic parking system that will allow its residents to transport and park their cars in their private Garage (2 -4 Car Garage) at the doorstep of their residence. This privacy aspect makes the building highly desired by high-profile people. The tower is the first Porsche Designed Tower in the world, and in case you are interested: 2% of the billionaires in the world own this building (that will be some impressive networking).

This condominium drops out of site in 2023. Porsche Tower is a classic case of a luxury brand, that has no cross-over into residential real estate. The novelty of a car elevator and pools on the terrace wore off quickly, and the poor floor plans sealed the doom of this project to see values drop by 50% in a few cases. Now the building can almost look like a deal compared to before. This may be a salutary lesson for other brands. Aston Martin and Bentley – you have been warned! 

2020 No.9 The Residences by Armani Casa

Armani Casa in Sunny Isles Miami are Luxurious high-end residential units that represent the Armani lifestyle with its distinctive luxury and unrivaled elegance. The residences at Armani Casa is a 54-story new development with 308 exclusive, luxury oceanfront condominium residences. The Armani Residences in Miami offer 2 -4 Bedrooms plus Den, and spacious residences (1358 sq.Ft to 3,756 Sq. Ft)  in the luxurious Sunny Isles Beach. This tower and its gardens will expand over the 3.2-acre site. As the name implies, interiors are by the world-renowned Armani/Casa Interior Design Studio under the artistic direction of Giorgio Armani.

Armani Casa drops just off the top 10 list in 2023. Another luxury brand that did not quite hit the mark. With that said, the through-flow floor plans are still some of the best for the Sunny Isles market and, as of 2022, are pretty decent value.

2020 No.10 1000 Museum in Downtown Miami

One Thousand Museum Miami is an iconic, ultra-luxurious project, designed by internationally acclaimed architect Zaha Hadid. Zaha is the winner of the Pritzker Architecture Prize (2004) and the Stirling Prize (2010 and 2011). 1000 Museum is her first residential tower in the Western Hemisphere and offers only 83 ultra high-end half-floor, full-floor, and double-floor residences (4-6 bedroom residences).

Wealth-X, the global leader in providing qualified prospects and intelligence on ultra-high net worth individuals, reported last year that One Thousand Museum is one of the world’s top 10 billionaire skyscraper homes.

Off the Top 10 list for 2023, but this is subjective. One Thousand Museum is architecturally powerful and offers significantly better finishes and floor plans compared to other condos. This could come back into the top 10 in the future. We are still a fan at the right price!

Conclusion

Outside of the condo description, the short and long economic performance greatly determines the best condos. It is unsurprising to see the best condos selling at the highest price per sqft. This is based on the premise that the better the condo, the more people are willing to pay. What is more unique in this study is figuring out not just the buildings that maintain their price per sqft but can substantially and consistently increase their price. This is why our unique Condo Geeks software has such value. It allows us to not only easy to see the historical performance but compares it to all the other condos.

You can call or email me directly, and I will send you the most up-to-date hand-selected units of the best options available. If you prefer to search yourself, click here to see ALL available units for sale. If you want to know what the best lines are, get more specific info like the financials of the building, or access to off-market options within the building, then please call me at 305.508.0899.

Now… Do you want to know about the BEST Pre-construction ‘new’ Condos?

If you also want to know what are the best new construction Condos in Miami, these are our top 10. Additionally you can read all the independent reviews here.

Questions and Answers to the Best Condos in Miami

What is the most expensive Condo in Miami?

The Four Seasons Surfside currently holds the record for the highest price per sqft in Miami. It achieved over $6000 per sqft in a couple of 2022 sales.

What are the best New Construction Condos in Miami?

We have dedicated an entire article to the best new construction Condos for Miami and Fort Lauderdale. Click here to read the Miami article. We detail and quantify every building.

What is the best Boutique Luxury Condo in Miami?

A boutique condo is a low-density condo. The best would be 87 Park, but Arte and Apogee would also be considered boutique and highly desirable.

What is the most family-friendly luxury Condo in Miami?

Probably a toss-up between Park Grove in Coconut Grove and Continuum in South of Fifth. Both buildings have superb facilities for families, and both have access to nearby parks. Park Grove may be the best choice as the best private schools in Miami (Ransom Everglades, Carrollton, St Thomas, and Gulliver) are closer to Coconut Grove.

Should I buy an existing luxury condo, or will I get a better deal if I wait for a new Construction Condo?

It is believed that you will save 20% by buying pre-construction. With that said, I have seen buyers make more or lose 20%! It is hard to predict any market beyond six months, let alone three years. If the product is unique, and the comparable product is currently more expensive than what new construction offers, then definitely consider it. It also works if you are not in a hurry. Please call me for a more granular conversation on this.

Are Luxury Condo prices dropping now in Miami?

The answer to this question varies enormously. As of Nov 2022, several condos have not depreciated at all, and some appreciated over 2022.

Which condo has consistently stayed in the Top 10 Condos over the last ten years?

According to a David Siddons Group Study: Continuum in South Beach has consistently stayed in the Top 10.

Which Luxury Condo has shown the greatest appreciation in price per sqft value?

According to Condo Geeks, we have seen the largest price per sqft increases from Four Seasons Surfside, Ritz Carlton Sunny Isles, and Park Grove Tower 1 in Coconut Grove. With that said the huge appreciation of these has much to do with specific ‘unique’ and irreplaceable floor plans. The A-Line in Park Grove, the 05-line at the Ritz Carlton in Sunny Isles, or the 02-line at 87 Park. In addition, the four-bedroom corner residences at the Four Seasons are unique. Specificity is everything!

Which neighborhood has the highest concentration of Luxury Condos?

Miami has a wide distribution of luxury condos across the county. South of Fifth and Bal Harbour / Surfside probably has the highest number of luxury Condos in the Top 10, according to Condo Geeks.

How can I best analyze the Miami Condo Market?

A combination of the Condo Geeks tool and Our updated article on Miami’s best Condos is probably the most complete source of information on the internet.