Lifestyles of the Rich & Famous Portofino Tower South Beach

Lifestyles of the Rich & Famous at Portofino Tower South Beach. Today we review this 2 Story Tower Suite at the Prestigious Portofino Tower.

Lifestyles of the Rich & Famous

Lifestyles of the Rich & Famous (Part 4) brings us to a desirable 2 story home in the sky. This gorgeous residence is #3105 at Portofino Tower South Beach, located in SoFi (South of Fifth) at 300 South Pointe Drive. Recently reduced by $1M this month for a motivated sale to a new asking price of $4.9M or $891 PSF.

South Beach’s Best Condos

With a recent purchase price of $5.250M (06/2007), this luxury South Beach condo residence comprises 4 large bedrooms and 4.5 baths with just under 5,500 interior square feet and boasting 270-degree views of the Atlantic Ocean, Biscayne Bay, and encompassing South Beach real estate. The private elevator opens directly onto the second floor and into the living areas. The kitchen comes with maid quarters and floor-to-ceiling windows overlooking beautiful South Beach. The stairs circle down into the master bedroom suite with his & her bathrooms and massive closets. This one-of-a-kind trophy property is for the buyer ready to enjoy their life successes.

Portofino Towers South Beach Stats

Portofino Towers South Beach is currently the tallest luxury highrise, built in 1996, and what a great year it was! The Portofino Tower is considered healthy as there are 28 condos for sale (MLS) out of 220 total, or 13% inventory. This is a well-established building with very happy residents. Regarding important statistics, we find an average asking price per square foot at $895PSF and an average selling price per square foot at $627 PSF. The average days on the market are only 68 DOM, and the sale-to-list price ratio is at 87%. The average Portofino Tower list price is $2.3M (2,515 SF).

Last year there were 10 closed sales at an average, selling PPSF at $676 for a 7% depreciation so far. Portofino Tower full featured amenities include a 24-hour concierge with valet service, 2 tennis courts, a world-class spa & fitness center, 2 pools, a hot tub, a sauna, billiards, and community rooms.

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