It looks as if even the mighty can fall.  Things aren’t going so well on Fisher Island; nor for Miami Beach luxury real estate.  In the last few months there has been some pretty interesting activity in the ultra, ultra high-end.  In 2007 there were a few impressive penthouse sales, but in 2008 it was the year of nada.

1455 Ocean Drive PH 6 &7, Miami Beach-Il Villaggio South Beach

Originally listed a long time ago (After a year-or-so, does it matter how long?) for $17.5 M, this penthouse finally sold in March.  The roof top/pool area is spectacular but the apartment is really a two bedroom.  The interior was ALL wood; I really mean ALL wood.  Think maple, EVERYWHERE.  I don’t really attribute this as a “low” sale–I view it more as a pricing issue coupled with a little curable functional obsolence.

The Penthouse at Murano at Portofino (see above) sold in January for $7.6M.  It has 4700+sf interior and a rooftop area in the round cylinder area that wasn’t so nice.  Think fishbowl.  Murano at Portofino is a beautifully kept condo and one of the most desirable condominiums in Miami Beach.  Oh, it was on the market for a really, really, really long time.

A penthouse at Sayan in Sunny Isles Beach sold in March 2009 for $5,250,000.  UPH (upper penthouse) 1 has  5,030 sf, and according to a press release from the interior design firm (uh huh), the penthouse was finished and furnished.

Miami Beach Penthouses Currently on the Market

Continuum South Beach- 100 S. Pointe Drive PH 1, Miami Beach, Fl 33139 $14,950,000

This 7,774 sf,  5 bed/7.5 bath direct oceanfront penthouse has east and north exposures and has been on the market for about two years now.  Original list price was $25M.

Apogee South Beach- 800 S. Pointe Drive PH A, Miami Beach, Fl 33139 $22,000,000*

Billed as one of the most spectacular and prestigious penthouses, anywhere, PH A commands the top two stories of South Florida’s most exclusive condominium.  The Apogee Penthouse boasts 11,000 sf of outdoor area and a private, rooftop “palazzo” with private pool.

Portofino Tower- 300 S. Pointe Drive #PH 4001, Miami Beach, Fl 33139 $12,500,000

Comments from the listing:
Unit being sold with antique French and Italian furniture and sculptures.  Serious cash-buyers only!”
Two things I love about this one:
…”French and Italian furniture and sculptures.”  After reading that, who needs to see the pictures!
“Serious cash-buyers only!”  Wow!  Now that’s some marketing, huh?

Fontainebleau II- 4441 Collins Avenue PH North, Miami Beach, Fl 33140 $13,500,000

New to market and riding high off of the 2008 record sale of the ”South” penthouse for $12.5M, the owner hopes to cash in on that comp from last year.  The north penthouse overlooks the newly renovated Fontainebleau Resort.  Is that good or bad?  This penthouse was home to Top Chef Miami and a few “B” and “C” list celebs have stayed here.  4,500 sf, 4 bedroom/5 baths.  Since Fontainebleau II is a condo-hotel, this PH is eligible to be placed in the rental pool.  Nightly rack room rate is $4500.

Akoya- 6365 Collins Avenue TS 02, Miami Beach, Fl 33141 $1,999,000*

Perched 47 dizzing stories above the Atlantic, TS (tower suite) 2 has some of the most jaw-dropping views on Miami Beach.  Occupying the 46 & 47 th floors of Miami Beach’s tallest building, TS 2 has 2,777 sf, 3 bedrooms, 4.5 baths and a private rooftop terrace.  Pretty impressive real estate for $720 psf.

Acqualina- 17875 Collins Avenue PH 5002, Sunny Isles Beach, Fl 33160 $12,900,000*

Though technically not in Miami Beach, this penthouse deserves recognition because it is the priciest real estate available north of Miami Beach (and my listing, too!).  Occupying the complete northern half of Sunny Isles’ most exclusive building, #5002 (fifty floors!) has over 8,000 sf, 4 bedrooms, 4.5 baths, and, of course, it’s own private pool.  Acqualina has exceptional spa-like amenities including an outpost of NYC’s Il Mulino restaurant.

Other Penthouses available, as if there aren’t enough already:

• W South Beach- 2201 Collins Avenue PH 2 $9.9M

Related Posts

• Miami Beach Real Estate:  Apogee South Beach Penthouse Lists for $22M
• $18.5M Penthouse at 1500 Ocean Drive Goes Under Contract
• SBCB Scoop:  Miami Beach’s $29M Setai Penthouse Under Contract
• Miami Beach Penthouse Report, May ’07

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* denotes my listing

Akoya Miami Beach Condos Statistics 1/1/08-6/18/08

This data is based on information from the Southeast Florida Regional (SEFR) MLS or from the associations participating in the SEFR for the period 1/1/08 through 6/18/08.

 It’s been a tough year for Miami Beach real estate generally and even more so for Akoya Miami Beach.  Let’s break down some of these numbers to see what they really mean.

• One Bedroom Activity:  There has been one sale this year.  There are 36 available condos for sale
• Two Bedroom Activity:  The have been two sales this year.  There are 21 available condos for sale
• Three Bedroom Activity:  There have been two sales this year.  There are 8 available condos for sale.

There is one pending sale, which is a three bedroom foreclosure.  Search all units for sale at Akoya Miami Beach here. 

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