Search for Miami’s most expensive condominium, and you will find an $80 million listing.
That number is real. It is also nearly useless as a measure of what the building is worth, because the building it sits in has closed three sales in the past thirty-three months, and the highest of them was $13.5 million.
A review of 563 closed Miami-Dade condominium sales above $5 million, from January 2024 through September 2026, alongside 387 active listings in the same range, shows this pattern repeating across the top of the market.
The buildings with the highest asking prices are frequently not the buildings with the highest proven values. In several cases they are the buildings with the least evidence of any kind.
The Short Answer
| *MLS Data | Ask side | Close side |
|---|---|---|
| Listings or sales | 387 active | 563 closed |
| Highest | $80,000,000 | $48,000,000 |
| Median | $7,700,000 | $7,300,000 |
| Median price per sq ft | $2,342 | $2,273 |
| Median days on market | 217 | 178 |
In the middle of the market the two sides nearly agree. Median asking price per square foot sits just 3% above median closing price per square foot.
At the top they diverge completely. The highest asking price in Miami-Dade is 1.7 times the highest closed sale, and the three highest asking prices in the county all sit in buildings that have never closed anywhere near them.
By transaction evidence rather than aspiration, Miami’s most expensive condominium building is the Surf Club Four Seasons in Surfside, at a median closing price of $4,467 per square foot across 29 sales. Its current asking prices are about half what it has already proven.
The Ask Gap
Here is the measurement this article is built on.
Take a building’s highest current asking price and divide it by its highest closed sale. I call the result the Ask Gap.
A gap near 1.0 means the building is asking roughly what it has proven. Below 1.0 means its current inventory is priced under its own track record. Well above 1.0 means the asking prices are running ahead of anything the building has demonstrated.
| Building | Highest ask | Highest closed | Closed sales | Active | Ask Gap |
|---|---|---|---|---|---|
| Apogee South Beach | $78,000,000 | $14,800,000 | 9 | 1 | 5.3x |
| Aston Martin Residences | $75,000,000 | $24,000,000 | 12 | 11 | 3.1x |
| Oceana Bal Harbour | $69,500,000 | $29,000,000 | 23 | 9 | 2.4x |
| St. Regis Bal Harbour | $20,000,000 | $9,443,750 | 14 | 11 | 2.1x |
| Fendi Chateau | $24,995,000 | $15,100,000 | 7 | 4 | 1.7x |
| Turnberry Ocean Club | $25,900,000 | $16,000,000 | 22 | 12 | 1.6x |
| Five Park Miami Beach | $23,500,000 | $18,500,000 | 25 | 8 | 1.3x |
| One Thousand Museum | $21,950,000 | $21,925,000 | 14 | 9 | 1.0x |
| Continuum South Beach | $22,000,000 | $23,900,000 | 38 | 14 | 0.9x |
| Jade Signature | $17,995,000 | $28,641,500 | 7 | 3 | 0.6x |
| Estates at Acqualina | $12,900,000 | $25,000,000 | 20 | 6 | 0.5x |
| Surf Club Four Seasons | $21,900,000 | $48,000,000 | 29 | 2 | 0.5x |
| Park Grove | $9,750,000 | $22,500,000 | 16 | 3 | 0.4x |
| Faena House | $8,250,000 | $20,000,000 | 6 | 1 | 0.4x |
| 57 Ocean Miami Beach | $6,150,000 | $25,000,000 | 8 | 1 | 0.2x |
Read the bottom of that table as carefully as the top.
Surf Club, Faena House, Park Grove and 57 Ocean have all closed sales well above anything currently offered in them. Their headline listing understates them. A buyer working from asking prices alone would conclude those buildings are cheaper than they are.
The top of the table is the opposite problem, and it is worth taking one building at a time.
Apogee: Nine Sales, One Floor Plan, and a $78 Million Outlier
Apogee South Beach produces the cleanest natural experiment in this dataset, because five of its nine closings are the identical floor plan.
| Residence | Interior | Asked | Sold | $/sq ft | Closed |
|---|---|---|---|---|---|
| #1204 | 4,154 sq ft | $15,000,000 | $14,800,000 | $3,563 | Jan 2026 |
| #801 | 4,154 sq ft | $15,900,000 | $14,500,000 | $3,491 | Jun 2026 |
| #1104 | 4,154 sq ft | $15,150,000 | $14,400,000 | $3,467 | May 2024 |
| #704 | 4,154 sq ft | $13,995,000 | $13,900,000 | $3,346 | Jan 2026 |
| #901 | 4,154 sq ft | $13,500,000 | $12,500,000 | $3,009 | Apr 2026 |
Five transactions, same square footage, closing in a band between $3,009 and $3,563 per square foot. That is about as tight a comparable set as Miami luxury real estate ever offers.
Across all nine closings, Apogee’s highest price per square foot is $3,914, recorded by residence #1404 in June 2025.
The building’s one active listing is a 9,049 square foot penthouse asking $78,000,000, or $8,620 per square foot.
That is 2.2 times the highest per-foot figure the building has ever recorded, and 5.3 times its highest total closing.
None of which makes the listing wrong. A 9,049 square foot penthouse in a 67-residence oceanfront building is genuinely irreplaceable, and it is not comparable to a 4,154 square foot floor plan that has traded five times. Apogee is a legitimately elite building, with the fourth-highest median closing price per square foot in this analysis.
The point is narrower. A buyer or an appraiser cannot get from $3,914 to $8,620 per square foot using anything in Apogee’s own transaction history. The premium is being argued from scarcity, not from evidence, and the buyer should know which of the two they are being asked to accept.
The Edition Residences: The Highest Ask, and Three Sales
The single highest condominium asking price in Miami-Dade, in this dataset, is residence #1602 at The Edition Residences at 2901 Collins Avenue in Mid-Beach: $80,000,000 for 5,011 square feet, or $15,965 per square foot.
The building’s entire $5 million-plus closed history over thirty-three months:
| Sold | Interior | $/sq ft | Closed |
|---|---|---|---|
| $13,500,000 | 3,764 sq ft | $3,587 | Jul 2026 |
| $7,000,000 | 2,029 sq ft | $3,450 | Apr 2024 |
| $6,250,000 | 2,756 sq ft | $2,268 | May 2026 |
Three sales. The best per-foot result among them is $3,587.
The asking price is 4.4 times that figure, and 5.9 times the building’s highest closed sale. At $15,965 per square foot it is the second-highest asking price per square foot anywhere in this dataset.
The listing has been on the market 55 days, which is short. It may find its buyer. But a residence priced at nearly four and a half times its own building’s proven ceiling is not being priced off comparable sales, because no comparable sale exists.
The Highest Price Per Square Foot Anywhere: A Building With No Sales
| Rank | Asking | $/sq ft | Building | Days on market |
|---|---|---|---|---|
| 1 | $80,000,000 | $15,965 | The Edition Residences | 55 |
| 2 | $78,000,000 | $8,620 | Apogee South Beach | 125 |
| 3 | $75,000,000 | $3,775 | Aston Martin Residences | 737 |
| 4 | $69,500,000 | $7,728 | Oceana Bal Harbour | 280 |
| 5 | $59,900,000 | $7,073 | Seaway at The Surf Club | 16 |
| 6 | $50,000,000 | $20,375 | Waldorf Astoria Residences Miami | 1,010 |
| 7 | $47,500,000 | $3,990 | 17975 Collins Avenue, Sunny Isles | 19 |
| 8 | $47,500,000 | $4,969 | Porsche Design Tower | 345 |
Number six is the one to sit with.
Penthouse 6 at the Waldorf Astoria Residences Miami asks $50,000,000 at $20,375 per square foot, the highest asking price per square foot in the entire dataset. It has been on the market 1,010 days, and the building, which is not scheduled to deliver until 2028, has no closed resale transactions at all.
Almost three years of marketing, at the highest per-foot price in the county, with zero transaction evidence behind it. That is not a market price. It is a position.
Number three deserves a note too. The $75 million Aston Martin penthouse has been listed 737 days, in a building that has closed twelve sales above $5 million with a median of $6,187,500 and a highest of $24,000,000.
Twelve Buildings Are Asking $5 Million and Up With No Sales at All
| Building | Active listings | Median ask | Highest ask |
|---|---|---|---|
| Waldorf Astoria Miami | 15 | $10,611,920 | $50,000,000 |
| The Delmore | 4 | $26,025,000 | $40,150,000 |
| The Perigon Miami Beach | 1 | $37,000,000 | $37,000,000 |
| Baccarat Brickell | 5 | $9,200,000 | $31,760,000 |
| UNA Residences | 16 | $9,049,500 | $31,000,000 |
| Ritz-Carlton South Beach | 4 | $9,175,000 | $28,750,000 |
| Elysee Miami | 2 | $13,847,500 | $19,999,999 |
| St. Regis Sunny Isles | 2 | $8,862,500 | $12,625,000 |
| Jade Ocean | 2 | $9,966,000 | $11,600,000 |
| Villa Miami | 4 | $6,225,000 | $10,300,000 |
| St. Regis Brickell | 1 | $9,540,000 | $9,540,000 |
| Bentley Residences | 2 | $7,325,000 | $8,850,000 |
Most of these are pre-construction or newly delivered, and the absence of resale evidence is structural rather than a warning sign. A building that has not delivered cannot have a resale market. That is the nature of buying early, and it can be an excellent decision.
But the practical consequence is the same in every case: 58 active listings in this dataset are priced with no closed sale in their own building to reference. The buyer is underwriting a number the building has not yet demonstrated.
The Delmore is the exception worth calling out, because it is neither pre-construction in the ordinary sense nor short of time. Four listings at a median ask of $26 million, no closings, and the site-specific history covered in the Surfside market analysis explains why the absence there reflects something other than a delivery schedule.
What Transaction Depth Actually Looks Like
Set the asking prices aside and rank by closed activity instead.
| Building | Closed $5M+ | Of which $10M+ | Median sold | Highest sold | Median $/sq ft | Median CDOM | Sold/list | Active | Active per sale |
|---|---|---|---|---|---|---|---|---|---|
| Continuum South Beach | 38 | 18 | $9,140,000 | $23,900,000 | $3,598 | 87 | 92% | 14 | 0.37 |
| Surf Club Four Seasons | 29 | 21 | $17,000,000 | $48,000,000 | $4,467 | 121 | 94% | 2 | 0.07 |
| Five Park Miami Beach | 25 | 4 | $6,862,500 | $18,500,000 | $2,552 | 183 | 92% | 8 | 0.32 |
| Oceana Bal Harbour | 23 | 10 | $9,350,000 | $29,000,000 | $2,793 | 221 | 94% | 9 | 0.39 |
| Turnberry Ocean Club | 22 | 1 | $5,737,500 | $16,000,000 | $1,869 | 210 | 94% | 12 | 0.55 |
| Estates at Acqualina | 20 | 8 | $9,700,000 | $25,000,000 | $2,274 | 182 | 92% | 6 | 0.30 |
| Park Grove | 16 | 5 | $7,000,000 | $22,500,000 | $2,255 | 90 | 93% | 3 | 0.19 |
| One Thousand Museum | 14 | 1 | $7,222,500 | $21,925,000 | $1,522 | 271 | 94% | 9 | 0.64 |
| St. Regis Bal Harbour | 14 | 0 | $7,175,000 | $9,443,750 | $2,260 | 356 | 93% | 11 | 0.79 |
| Acqualina Resort Residences | 13 | 3 | $7,000,000 | $21,600,000 | $1,518 | 203 | 94% | 9 | 0.69 |
| Oceana Key Biscayne | 13 | 2 | $8,400,000 | $15,200,000 | $2,504 | 137 | 97% | 3 | 0.23 |
| Aston Martin Residences | 12 | 1 | $6,187,500 | $24,000,000 | $1,634 | 219 | 91% | 11 | 0.92 |
| Grove at Grand Bay | 12 | 3 | $7,257,500 | $19,500,000 | $1,869 | 268 | 94% | 2 | 0.17 |
| Murano at Portofino | 12 | 1 | $5,825,000 | $10,300,000 | $2,168 | 135 | 88% | 2 | 0.17 |
| Apogee South Beach | 9 | 7 | $13,900,000 | $14,800,000 | $3,467 | 216 | 95% | 1 | 0.11 |
| Faena House | 6 | 2 | $7,097,500 | $20,000,000 | $3,496 | 145 | 92% | 1 | 0.17 |
Continuum and Surf Club sit at the top on different mechanics.
Continuum produces the most transactions of any Miami-Dade condominium in this range, 38 closings, and it does so fastest, at a median of 87 days. Its two towers hold a wide spread of residence sizes, which means a broader buyer pool at more price points.
Surf Club produces the most trophy transactions: 21 of its 29 closings were above $10 million, its median closing is $17,000,000, and its median price per square foot of $4,467 is the highest of any building with meaningful depth. It closed at 94% of asking. And it has two active listings against those 29 sales, the tightest ratio in the analysis at 0.07 active listings per closed sale.
That combination, repeated eight-figure demand plus almost nothing competing, is what genuine trophy liquidity looks like. The building-by-building version of this question is worked through in the trophy condo liquidity analysis.
At the other end of the same table, Aston Martin shows 12 closings against 11 active listings, and St. Regis Bal Harbour shows 14 against 11. Those sellers are competing primarily with their own neighbors.
Highest Median Closing Price Per Square Foot
This is the ranking that answers “most expensive” with evidence rather than ambition. Minimum six closings.
| Building | Median closed $/sq ft | Closings | Median sold |
|---|---|---|---|
| Surf Club Four Seasons | $4,467 | 29 | $17,000,000 |
| 57 Ocean Miami Beach | $3,654 | 8 | $8,750,000 |
| Continuum South Beach | $3,598 | 38 | $9,140,000 |
| Faena House | $3,496 | 6 | $7,097,500 |
| Apogee South Beach | $3,467 | 9 | $13,900,000 |
| Fendi Chateau | $3,138 | 7 | $10,300,000 |
| Oceana Bal Harbour | $2,793 | 23 | $9,350,000 |
| Five Park Miami Beach | $2,552 | 25 | $6,862,500 |
| Oceana Key Biscayne | $2,504 | 13 | $8,400,000 |
| Monad Terrace | $2,427 | 6 | $6,725,000 |
| Estates at Acqualina | $2,274 | 20 | $9,700,000 |
| St. Regis Bal Harbour | $2,260 | 14 | $7,175,000 |
| Park Grove | $2,255 | 16 | $7,000,000 |
| Murano at Portofino | $2,168 | 12 | $5,825,000 |
Two things stand out.
Surf Club leads by a wide margin and leads on volume simultaneously. It closed 22% above second-ranked 57 Ocean, and 24% above Continuum, the only other building in the top three with comparable transaction depth. It did so across 29 transactions. That is the strongest single result in this dataset.
Total price and price per square foot do not rank together. Apogee has the second-highest median closing price at $13.9 million but ranks fifth per square foot, because its residences are large. Continuum ranks third per square foot on a median closing of $9.14 million. Buyers looking for the most expensive building get a different answer depending on which question they are actually asking, a problem that runs through the whole South of Fifth market.
The Discount Deepens as the Ask Rises
| Original asking price | Closings | Median sold | Sold to list | Median CDOM |
|---|---|---|---|---|
| $5M to $7M | 184 | $5,750,000 | 94% | 162 |
| $7M to $10M | 163 | $7,350,000 | 93% | 187 |
| $10M to $15M | 93 | $11,150,000 | 92% | 153 |
| $15M to $20M | 38 | $15,150,000 | 92% | 140 |
| $20M to $30M | 25 | $20,500,000 | 88% | 204 |
| $30M and above | 12 | $33,000,000 | 87% | 149 |
The relationship is clean and it runs in one direction. Every step up in asking price produces a deeper discount at closing, from 94% of list at the bottom of this market to 87% at the top.
The individual transactions at the top show the same thing. Surf Club’s $48 million sale was asked at $55 million. Its $44 million sale was asked at $49.9 million. Eighty Seven Park’s penthouse asked $40 million and closed at $29 million, or 72.5% of list.
For a buyer, the implication is that asking prices above roughly $20 million carry a systematically larger negotiating margin. For a seller, it means the expectation of 95% of list, reasonable at $6 million, is not supported by evidence above $20 million.
Thirty Percent of the Asking Side Has Been Waiting Over a Year
| Days on market | Active listings | Median ask | Median ask $/sq ft |
|---|---|---|---|
| Under 180 | 163 | $7,500,000 | $2,205 |
| 180 to 364 | 102 | $7,800,000 | $2,484 |
| 1 to 2 years | 69 | $8,500,000 | $2,326 |
| Over 2 years | 42 | $7,738,500 | $2,374 |
Of 376 active listings with reported marketing time, 111 have been available for more than a year and 42 for more than two.
Notice that the stale listings are not asking less per square foot. Listings over two years old carry a median of $2,374 per square foot, above the $2,205 asked by listings under six months old and above the $2,273 the market actually paid.
Long-standing inventory in this market is not discounted inventory. It is inventory that has not adjusted.
How to Use the Ask Gap
For buyers. When a residence is priced well above its building’s closed history, ask what specifically justifies the gap. Sometimes the answer is excellent: a genuinely unrepeatable floor plan, a protected view, a full-floor position the building only built once. Those are real, and they are the substance of the irreplaceability premium. Sometimes the answer is that the seller chose a number. The building’s own transaction record is how you tell the two apart, and it is the first item on any serious condo due diligence list.
For sellers. A low Ask Gap is a competitive position, not a weakness. Buildings whose inventory is priced below their proven ceiling tend to transact. A high Ask Gap is a longer marketing period by default, and the data says the resulting sale will land further below asking, not closer to it.
For anyone valuing a residence. The highest listing in a building establishes almost nothing. In this dataset the highest asking prices cluster in buildings with three closings, one closing, or none. Use the closest comparable transactions in the same building and the same line, then adjust. A neighborhood or building-wide average applied to a specific trophy residence produces a number that is precise and wrong.
Frequently Asked Questions
What is the most expensive condo building in Miami?
By closed-sale evidence rather than asking prices, the Surf Club Four Seasons in Surfside leads, at a median closing price of $4,467 per square foot across 29 sales above $5 million, with 21 of those above $10 million and a highest closing of $48,000,000. By highest asking price, the answer is different: an $80,000,000 listing at The Edition Residences in Mid-Beach, in a building whose highest closed sale in the same period was $13,500,000.
What is the most expensive condo listing in Miami right now?
Within this dataset, residence #1602 at The Edition Residences, 2901 Collins Avenue, asking $80,000,000 for 5,011 square feet, or $15,965 per square foot. The highest asking price per square foot is Penthouse 6 at the Waldorf Astoria Residences Miami, at $20,375 per square foot, which has been on the market 1,010 days in a building that has not yet delivered.
What was the highest Miami condo sale in this period?
$48,000,000 for residence N-PH4 at the Surf Club Four Seasons, closing in March 2024 at $6,587 per square foot after being asked at $55,000,000.
Do Miami luxury condos sell close to asking price?
It depends on the price point. Sales asked between $5 million and $7 million closed at a median of 94% of list. Above $30 million the median was 87%. The discount widens consistently as the asking price rises.
Why is the most expensive listing not in the most valuable building?
Because an asking price requires only a seller, while a closing requires a buyer. Several of the highest asking prices in Miami-Dade sit in buildings that are pre-construction, newly delivered, or have produced very few sales. Fifty-eight active listings above $5 million in this analysis are in buildings with no closed sale of their own to reference.
Which Miami condo buildings sell fastest?
Among buildings with meaningful volume, Continuum South Beach recorded the shortest median marketing time at 87 days across 38 closings, followed by Park Grove at 90 days and Surf Club Four Seasons at 121 days.
Should I worry if a building has no closed sales?
Not necessarily, but you should know you are pricing without evidence. Pre-construction and newly delivered buildings cannot have resale histories, and buying early can be sound. The distinction that matters is between a building with no sales because it has not delivered and a building with no sales despite having been available to buy for some time.
How much more does the top building cost per square foot?
Surf Club Four Seasons closed at a median of $4,467 per square foot, roughly 97% above the $2,273 median for all Miami-Dade condominium sales above $5 million in this dataset. It sits 22% above second-ranked 57 Ocean Miami Beach, and 24% above Continuum South Beach, which is the closest building to it on transaction depth with 38 closings.
Buying or Selling a Miami Luxury Condominium?
The most expensive listing in a building tells you what one owner hopes to receive. It tells you very little about what the residence you are considering is worth.
Line, floor, exposure, view permanence, floor plan scarcity, renovation condition, reserve funding and the number of comparable residences competing right now can separate two apparently similar residences in the same building by millions of dollars.
If you’re evaluating a residence at the Surf Club Four Seasons, Continuum, Apogee, Five Park, Faena House, Oceana Bal Harbour, St. Regis Bal Harbour, Estates at Acqualina, Turnberry Ocean Club, Aston Martin Residences, Waldorf Astoria Residences Miami, One Thousand Museum, Park Grove or another Miami luxury condominium, contact Ashton Coleman for a building-specific comparison using recent closed sales and current competing inventory.
Explore current Miami luxury condominiums, penthouses and oceanfront residences through Miami Penthouses & Estates.
馃摓 305.978.7704
馃摟 AColeman@onesothebysrealty.com
About Market Data
This analysis uses supplied SEFMLS condominium records for Miami-Dade County priced at $5,000,000 and above, comprising 563 closed sales with recorded sale prices closing between January 2024 and September 2026, and 387 active listings in the same price range as of September 2026.
Buildings are identified by street address, and every named building in this article is a single condominium development rather than a grouping. Records that could not be attributed to an individually named building are excluded from the building-level tables but included in the market-wide aggregates. Two records representing the same transaction listed under separate MLS numbers were consolidated.
Field coverage on closed sales: 546 of 563 carried price per square foot, 512 carried cumulative days on market, 518 carried an original list price, and 532 carried a year built. Medians are calculated on the available subset, and transactions without a recorded list price are excluded from sold-to-list figures. Medians are used throughout rather than averages, to limit distortion from outlier transactions.
Several buildings carry small samples and should be read as directional rather than precise. Faena House and Monad Terrace contain six closings each, Fendi Chateau and Jade Signature seven, 57 Ocean eight, and Apogee nine. Buildings with fewer than five closings are excluded from the Ask Gap table.
Important limitations. Buildings differ in size, age and delivery stage, so raw transaction counts are not a standardized measure of turnover. Newly delivered buildings may include developer or early post-delivery closings rather than mature resale activity. Cumulative days on market can reflect relisting history, ambitious initial pricing or unusual seller strategies. Combined residences, penthouses, concessions, furnishings and off-market transactions materially affect individual sales and are not fully captured by summarized MLS fields. The Ask Gap compares a single highest asking price against a single highest closed sale and is therefore sensitive to the specific residences involved; it describes pricing posture, not building quality.
This analysis does not rank buildings by desirability and should not be read as doing so. MLS information is believed accurate but is not guaranteed.
Disclaimer
This article is provided for general real estate information and marketing purposes and is not an appraisal or financial, tax, legal, or investment advice. Individual residences, buildings, marketability and resale outcomes vary substantially. Buyers and sellers should evaluate property-specific information and current market conditions before making a real estate decision.
