Posted over 9 years ago

Setai Miami Beach Condo on “09” sold at $4,760 Per Square Foot!

A unit located on the “09” line in Setai Miami Beach just sold for $12,000,000, at $4,760 price per square foot, which is the highest price per square foot sale this year in Miami Beach. Not only on South Beach but in the entire Miami Beach. Luxury buyers are out, they see value in Miami Beach and they have no problem breaking a record here or there to get their favorite Miami Beach unit.

This “09” line is a three bedroom, three bathroom, open floor unit with spectacular views of the Ocean and Downtown Miami. The unit was originally listed for $15,000,000 and with a 20% discount closed at $12,000,000.

Are we getting close to Manhattan prices yet?

The Miami Beach market is hot, hot! And yes we are slowly getting closer to the pricing of other large cities but there is still a lot of great value out there for savvy buyers. However, Miami Beach oceanfront real estate is very desirable, inventory is very limited and prices are going up and up.

There are still some great opportunities to buy particularly in newer construction starting at $1500 per square foot. I wrote about this couple of weeks ago: Hotel 1 Homes South Beach is located two blocks north and is a great oceanfront property.

Below are the 5 highest sold properties price per square foot this year on Miami Beach:

(mls data)

To date the the 5 highest sold (per square foot) condos this year in Miami BeachSold Price per square footSold PriceSETAI # 3509$4,760$12,000,000SETAI #2008$3,844$4,775,000SETAI #2806$3,343$4,400,000SETAI #3601$3,040$10,800,000CONTINUUM I # 3307$2,843$8,400,000

What is interesting from the table is that four out of the five most expensive properties price per square foot are located in Setai Miami Beach.

The Setai Miami Beach building is a super luxury 40-story ocean front building located in one of the best locations in Miami Beach.

It is within walking distance to Lincoln Road, the Miami Beach convention center, shops, restaurants, nightlife and has direct access to the beach. The units in Setai feature gourmet kitchens, top of the line appliances, spacious bathrooms and some of the most spectacular views of the ocean and the Miami Beach skyline.

If you are thinking about buying a Setai Miami Beach or any other great buying opportunities, we can help you!

See all Setai Miami Beach Condos

We specialize in luxury Miami Beach condos like Setai Miami Beach and other luxury real estate in Miami and Miami Beach.

Written by Jamey & Ognjen Prezzi

The compilation of listing and market data information is provided by our local MLS system Miami Association of REALTOR ®s, developers and other closed tax data provided by use from our local MLS resources. All information provided is deemed reliable but is not guaranteed and should be independently verified. I am human and errors can occur, if you note something off, let me know so I can check into it.