Super-Flip: Apogee South Beach Penthouse Re-listed for $13.5M MORE Than $11.5M Paid. South Beach Penthouse Report
The Apogee Penthouse, 800 S. Pointe Drive, PH #A, has been listed almost a year to the day of last year’s purchase for an astounding $25,000,000.
From my knowledge of being the original listing agent, and the pictures on the MLS, the owner has not improved the property from when it was purchased. Um, ok.
Follow the travails of this Apogee Penthouse here:
- Nearly three years later, Apogee South Beach Penthouse Sells for About Half its Original List Price
- Miami Beach Real Estate: Apogee South Beach Penthouse Lists for $22M
*Update* I never just do a basic, simple post. I tried to get away with it tonight, but my “content integrity”
radar conscience wouldn’t let me just “post and run.”
Miami Beach Penthouse Report
The Miami Beach real estate market is FLOODED with luxury Penthouses like NEVER before. There are about 20 to 22 units in South Beach that could command the title of a true Penthouse. There are 15 Penthouses on the market for a total list price of $234,109,000.
#3603 – $35M
#PH 2 – $35M
#PH 3 – $19.5M
List price total: $89,500,000 (zeros used for emphasis). O.M.G.
#4003 – $6.495M
#4005 – $7.9M
#4006 – $4.5M
#PH 1 – $11.75M
- South Pointe Tower, 400 S. Pointe Drive, has #2408 on the market for $3.899M
- Apogee South Beach, 800 S. Pointe Drive: #PH A: $25M
- ICON South Beach, 450 Alton Road, has two Penthouses on the market: #PH 1 for 14.9M and #PH 2 for $19M
- List price total: $33,900,000
Zipping north and back east over to the ocean to 1500 Ocean Drive, 1500 Ocean Drive has a monster of a Penthouse listed for $25,000,000.
Leaving South Beach and heading north to The Bath Club for a special offering, though not a Penthouse, it is unique, much like #3603 in Continuum South. The Bath Club, 5959 Collins Avenue, Villa #3006 for $7,700,000 makes the cut because of the rarity of such a product. In Miami-Dade County, we do not have oceanfront homes, except for the few in Golden Beach at the Miami-Dade/Broward County line, so as one of only six direct oceanfront villas in Miami Beach proper, this is special and deserves inclusion.
Kevin Tomlinson’s (me) analysis:
- Best real estate: Continuum South Beach #3603
- Best all-around: Continuum South Beach #PH 3
- Best floor plan: ICON South Beach #PH 1. This PH has a “wow” factor in its DNA. Jaw-dropper AND good floor plan.
- Best outdoor/rooftop space: 1500 Ocean Drive #T1. Since 1500 Ocean Drive is only a 16-story bulding, the rooftop is actually usable and is stunningly designed.
- Best value: ICON South Beach #PH 1. “Moderately” priced at just under $1800 PSF, this Penthouse has its own private rooftop pool, private parking garage spaces for up to seven cars and a separate two-bedroom guest/staff apartment on the same floor.
- Which Penthouse would Kevin buy? If available, Apogee #PH C — but it’s not, so I must get over it. It is truly a toss-up between Continuum #PH 3 and ICON South Beach #PH 1. #PH 3 is so elegant and luxe, but ICON #PH 1 is “WOW” for much less dough and much more real estate. It just has the drawback of being in a building that can’t *easily* command a $15M unit. Unit prices in ICON start in the $600k range. When Apogee #PH C comes to market, I’ll tell you why I know it truly is one of the “Top Ten” pieces of real estate south of New York City.
Check out all our luxury $5M+ condos available in Miami Beach
- Setai South Beach Penthouse Sells for Record-Setting $21.5M. Breaks Multiple Miami Beach Real Estate Records [SCBC]
- Miami Beach Real Estate: Continuum Penthouse Sells Over $15M BELOW Original List Price *Updated* [SBCB]
- Miami Beach Real Estate: Penthouse Report – Il Villaggio South Beach Penthouse Sells $10M Under Original List Price [SBCB]