Record Sale in South of Fifth | 321 Ocean Penthouse Sells for $3,820 per SF
- loes
- May 15th, 2018
The Penthouse at 321 Ocean has broken a record in South of Fifth. The luxury residence just sold for $3,820 per SF after being listed for more than 2 years. The property which offers two full floors, one of which a rooftop terrace, was originally listed for $34,999,999 ($5,140 per SF) and sold for $26M or $3,820 per SF. The property was bought in 2015 for $20M.
The last sales record in South of Fifth was at $3,591 per SF at Ocean house, while Continuum occupies numbers 4, 5 and 6 in the top 10 of record sales (Continuum never passed the $3,300 per SF for the South Tower and $3,000 per SF for the North Tower). Take a look at the highest sales per SF at Continuum South Tower
What does this mean for the South of Fifth neighborhood?
There is trust in the luxury market, we see higher prices being paid (also at Continuum) and records are broken. We also need to admit that in the luxury market many properties are still overpriced and sometimes when looking at this market as a buyer one needs to forget about the “asking price”. This property for example sold for 26% less than its asking price.
The Record Sale at 321 Ocean
The 13,220 SF, two-story Penthouse offers nearly 7,000 SF of interior space, a private 5,223 SF roof deck with a 36 ft infinity pool, an outdoor kitchen, fire pit, and massive entertaining space. It offers and abundance of light and space, and has a plethora of luxury specifications. 360 Ocean & city views enjoyed from a comfortable height 100 ft above the beach.
