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:

*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.

 

  • Two of the three penthouses at Continuum South AND #3603 (which qualifies as one of the most important pieces of real estate on Miami Beach) are on the market.
#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
  • 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.
Dream, Buy:
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