Building facts
- Address
- 1560 Lenox Avenue
- Neighborhood
- South Beach
- Year built
- 1953 (converted 2006)
- Floors
- 3
- Residences
- 17
- Status
- Completed
- Developer
- Andi Greenwald
- Pricing
- Starting at $525,000
Key Takeaways
- 17 homes make up Industry Lofts, — inside a converted 1953 telephone-company building at 1560 Lenox Avenue in Miami Beach’s Flamingo/South Beach area — two of the 17, units 101 and 103, are roughly triple the size of a standard unit here.
- Only 5 qualified sales closed here across the last four years, — with 2025 carrying none at all — too thin to support a confirmed percentage trend, though median $/sq ft moved only modestly, $574 to $566.
- The building’s current-window record sale is recent: — $845,000 on 4/30/2026, for unit 303 at 1,492 sq ft — $566 per square foot, within $5,000 of that same unit’s own December 2006 sale price, twenty years earlier.
- 11 of the building’s 17 homes (64.7%) have a documented round trip, — and every single one gained — 0 losses on record, a median gain of 24.4% over a median 10.6-year hold.
- The building’s all-time record sale is $1,362,500, — closed March 2008 for the 2,813 sq ft unit 101 — a repeat sale of the same unit, which first traded for $1,095,000 in August 2006.
- One 2012 sale spanning two adjoining units ($700,000) is excluded from every per-square-foot figure, — flagged by the county as a multi-parcel deed rather than a single-home sale.
1560 Lenox Avenue, Miami Beach, Florida 33139 | Neighborhood: South Beach
Seventeen Homes Inside a Converted 1953 Telephone Exchange
I pulled all 18 folios the Miami-Dade County Property Appraiser has on file for Industry Lofts at 1560 Lenox Avenue, Miami Beach, FL 33139 — the county’s own neighborhood field for this address reads Flamingo, inside South Beach. One of those 18 is a reference folio covering the building’s ground-floor commercial space; the other 17 are residential homes. The declaration closes at 100.0010% on the county’s common-element share test, with one folio carrying no recorded share, sized instead from its square footage — close enough to complete that I’m treating the pull as whole.
This is a genuinely small building, and its size distribution isn’t uniform. Fifteen of the 17 homes run 757 to 1,492 square feet, split across six close-sized floorplates of two homes each. The remaining two — units 101 and 103 — are outliers: 2,813 and 2,810 square feet, roughly triple the size of the median unit here, and each carries an undivided 13.565% and 13.548% interest in the building’s common elements, against roughly 3.6% to 6.9% for a standard unit. That is not a data error; the county’s own share allocation confirms the size.
The county’s own record lists the building’s year built as 1953. The earliest qualified sale anywhere in this building’s county transaction history is dated August 2006, consistent with a loft conversion inside that older structure first selling that year. On the 2026 tax roll, the 17 homes carry assessed values from $307,200 to $709,665, median $380,250. The county records 0 bedrooms against all 17 homes, consistent with an open-plan loft layout rather than a missing data field.
I don’t have a confirmed story count, architect or amenity list for this building beyond what the county record carries — none of that is in the property record, and I’d rather say so than fill it in from a listing site.
Five Sales in Four Years: What $566 a Foot Buys Today
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 3 | $550,000 | $574 |
| 2024 | 1 | $450,000 | $410 |
| 2025 | 0 | — | — |
| 2026 to date | 1 | $845,000 | $566 |
Only 5 qualified sales have closed at Industry Lofts across the whole four-year span — as few as zero in 2025 — too thin to support a confirmed percentage trend, and I’d rather say that plainly than build one out of five data points. What the record can say: median $/sq ft ran $574 in 2023 and $566 in the single 2026 sale to date, essentially flat on very little volume. Against 17 homes, five sales in four years works out to a turnover of roughly one home in 14 each year. 2026 is an incomplete year.
The building’s current-window record is $845,000, closed 4/30/2026, for unit 303 at 1,492 square feet — $566 per square foot. That sale is a near-echo of the same unit’s own history: unit 303 sold for $840,000 in December 2006, just $5,000 less, twenty years earlier — one of the more direct same-unit comparisons available in this cluster. The building’s all-time record sits higher, outside the current window: $1,362,500, closed March 2008, for the 2,813 sq ft unit 101 — $484 per square foot, itself a repeat sale of the same unit, which traded for $1,095,000 in August 2006.
One sale is excluded from every figure on this page: $700,000, closed 1/27/2012, spanning units 301 and 302 together, flagged by the county’s own description as a multi-parcel deed. Combined, the two units total 1,746 square feet — plausibly a single purchase of two adjoining homes, not a portfolio transfer, but I’m not folding it into a per-square-foot figure built on individual homes.
Why Has Every Completed Round Trip at Industry Lofts Made Money?
Looking at homes bought and later resold, both legs a qualified transaction over $10,000: 11 of the building’s 17 homes (64.7%) have one. All 11 gained. Not one has sold for less than the previous owner paid. The median change across all 11 is +24.4%, over a median 10.6-year hold, and the range runs from +0.6% to +137.6%.
The building’s largest documented gain: unit 102, 1,204 square feet, bought for $425,000 in August 2006 and sold for $1,010,000 in January 2023, +137.6% over 16.4 years. The smallest gain on record, +0.6%, belongs to unit 303’s own twenty-year round trip described above — a genuinely flat outcome once you account for how long the money sat.
Six of the 17 homes have no documented round trip at all — either a single recorded sale or none in the qualified record — so this isn’t a claim that every home in the building has been profitable, only that every completed round trip has been. With just 11 data points, I’d call the direction real but wouldn’t treat the exact 24.4% figure as guaranteed to repeat.
Who Industry Lofts Suits, and Who It Doesn’t
Industry Lofts suits a buyer who wants a genuinely converted industrial building — not a new build styled to look like one — steps from Lincoln Road, and who’s comfortable with a small, non-uniform building where two of the 17 homes are roughly triple the size of the rest. It also suits a patient buyer: every one of the building’s 11 completed round trips has shown a gain, a track record this small a building doesn’t often produce.
It suits buyers badly who need a wide set of current comparables or a fast, data-rich negotiation. Only 5 qualified sales have closed here in four years, with a full year, 2025, showing none, and the building’s mixed floorplate sizes mean a same-size comparable isn’t always available for the two largest units.
If you are selling: price off the $410–$574 four-year $/sq ft band for a standard-size unit, and if you own unit 101 or 103, expect to lean on the building’s own limited history for those two units specifically rather than the standard-unit band. With volume this thin, be ready to make your own case to a buyer’s agent alongside whatever comparable you can point to.
Verified 24 August 2026 against the Miami-Dade County Property Appraiser record for 1560 Lenox Avenue, Miami Beach, FL 33139 — all 18 folios retrieved individually, grouped by subdivision (INDUSTRY CONDO) and filtered to residential homes, excluding the building’s one commercial reference folio. The declaration closes at 100.0010% on the county’s common-element share test; one folio carries no recorded share and was sized from its square footage. Sale figures are qualified, arm’s-length transactions only, span-aware so bulk or portfolio transfers are not counted at full price against every folio they touch; one 2012 sale ($700,000) spanning two adjoining units (301 and 302) was reviewed, confirmed as a genuine multi-parcel deed under the county’s own description, and excluded from every per-square-foot figure. Round-trip figures pair each home’s first and last qualified sale over $10,000, excluding any leg that is part of a multi-parcel/portfolio deed. Only 5 qualified sales fall inside the current four-year window, with none in 2025, and no firm percentage trend is asserted from that limited data. 2026 is an incomplete year. Story count, architect and amenity detail are omitted beyond what the county record carries: no primary source has been confirmed for them. Re-check when the next tax roll publishes.
Industry Lofts — Frequently Asked Questions
How many homes are in Industry Lofts?
The Miami-Dade County Property Appraiser lists 18 folios for Industry Lofts at 1560 Lenox Avenue, Miami Beach, FL 33139. One is a commercial reference folio for the ground floor; the other 17 are residential homes.
Why are two units so much bigger than the rest at Industry Lofts?
Units 101 and 103 run 2,813 and 2,810 square feet, roughly triple the median unit size here. Each carries an undivided 13.5% interest in the building’s common elements, versus roughly 3.6% to 6.9% for a standard unit — the county’s own share allocation confirms the size difference is real, not a data error.
When was Industry Lofts built and converted?
The county’s record lists the building’s year built as 1953. The earliest qualified sale in the county’s transaction record for this building is dated August 2006, consistent with the lofts inside that older structure first selling that year.
How many homes have sold recently at Industry Lofts?
Only 5 across the last four years — three in 2023, one in 2024, none in 2025, and one so far in 2026. That is too thin to support a confirmed percentage trend.
What is the highest price a home has sold for at Industry Lofts?
The building’s all-time record is $1,362,500, closed March 2008, for the 2,813 sq ft unit 101. Inside the current four-year window, the record is $845,000, closed April 2026, for unit 303 at 1,492 sq ft — $566 per square foot.
Do owners at Industry Lofts typically make or lose money?
Of the building’s 17 homes, 11 (64.7%) have a documented round trip, and every one of them gained — zero losses on record. The median change across all 11 is +24.4% over a median 10.6-year hold.
What is not known about Industry Lofts from the county record?
Story count, architect and amenity details are not part of the Property Appraiser’s record, so none of those facts are asserted from it on this page. Only what the county record itself supports is published here.
Sources and further reading
Interested in selling at Industry Lofts?
Learn more about selling your condo at Industry Lofts with Josh Stein.
Industry Lofts and the truth about Miami lofts
Miami has almost no true converted-warehouse lofts. That single fact explains the whole category, and almost nobody says it plainly. Unlike SoHo, Tribeca or Chicago’s West Loop, Miami’s urban core was never built out as multi-story manufacturing, so there was very little industrial stock to convert. Nearly every building marketed here as a loft is purpose-built new construction in a loft aesthetic — high ceilings, concrete floors, open plans, floor-to-ceiling glass — constructed between roughly 2002 and 2016. Parc Lofts at 1749 NE Miami Court is the notable exception, described in the trade as one of the few genuine industrial-loft buildings in the city, with 15-foot ceilings on floors one to four and 20-foot ceilings above.
Industry Lofts was built in 19532006 in South Beach with 17 units across 3 floors. That is unusually late for loft product in Miami; the category effectively stopped being built after about 2016.
The value case, in numbers
Loft product is the genuine affordability play inside Miami’s urban core. Downtown loft-style condominiums trade at roughly $414 to $451 per square foot — Neo Lofts at $414, Loft Downtown I at $425, Loft Downtown II asking $451 — against a Downtown luxury benchmark of $730 per square foot in Q1 2026. That is 55 to 62 per cent of the going rate for comparable urban-core square footage.
Two further numbers matter. Loft Downtown II’s trailing six-month sold average was $422 per square foot against a $451 asking average, at 129 days on market — sellers are taking less than ask, and taking a while. And Downtown carried 46 months of luxury inventory in Q1 2026, the highest in Greater Downtown. If you are buying, that is as much negotiating leverage as this market offers anywhere.
Carrying cost is the quiet advantage
Loft buildings are small, low-amenity and cheap to run, and it shows in the monthly. Loft Downtown II carries an HOA of about $0.93 per square foot per month and Neo Lofts about $1.15. A South Beach trophy tower runs $4 to $7 per square foot per month — The Setai sits near $4.55. On a 1,000 square foot unit that is a difference of roughly $3,000 to $6,000 every month, before you have paid a mortgage. For investors, it is the entire reason the rental maths works.
Why no more lofts will be built
Land economics closed the category. Edgewater luxury traded at $978 per square foot and Brickell at $950 in Q1 2026, while loft product sits near $420. No developer builds a four to six-storey, 35 to 70-unit loft building on land that pencils for a 40-storey tower. High ceilings make it worse: a 20-foot ceiling consumes the volume of nearly two conventional floors, so under fixed height and FAR limits every foot of ceiling is traded directly against sellable units.
The consequence is a permanently closed supply category with structurally tiny unit counts — Ilona Lofts has 16 units, Wynwood Lofts 35, Montclair 41, Star Lofts 47, Bay Lofts 54, Uptown 66, Parc Lofts 70, Filling Station 81. In buildings that small, one owner deciding not to sell measurably moves availability.
Where Miami’s lofts actually are
- Downtown Miami — Loft Downtown I and II. The walkable core, on the Metromover, and the most accessible luxury submarket in the city.
- Arts & Entertainment District — Parc Lofts and Filling Station Lofts, next to the Adrienne Arsht Center, between Downtown and Wynwood.
- Wynwood — Wynwood Lofts, in the gallery district by Wynwood Walls, with Midline Miami’s 10,000 square foot live-music venue at Arlo Wynwood open since January 2026.
- Edgewater — Star Lofts, Bay Lofts and Uptown Lofts, in the top-performing Miami neighbourhood of Q1 2026 with 120 per cent year-on-year sales growth.
- Miami River and Brickell edge — Neo Lofts, on the riverfront dining corridor. Brickell is Greater Downtown’s fastest-selling submarket at 75 days on market.
Who buys lofts in Miami
Creative professionals first — Parc Lofts is documented as a favourite among photographers, musicians and artists, and Wynwood Lofts is explicitly marketed as a live/work building. Then entry-point urban buyers, because Downtown lofts start around $282,000 to $307,000, well under the $425,000 Miami-Dade condo median. And rental investors, drawn by the low carry: Loft Downtown II listed 17 units for rent against 15 for sale in July 2026.
At the top of the market the buyer is different again. Parc Lofts units run 1,970 to 3,774 square feet with 15 to 20-foot ceilings at $1.3M to $3.0M. That is a fundamentally different proposition from a 700 square foot Brickell tower unit at the same price — and there is nowhere else in Miami to buy it.
Frequently asked questions
Are there real converted-warehouse lofts in Miami?
Very few. Parc Lofts at 1749 NE Miami Court is described in the trade as one of the few true industrial-loft buildings in Miami, with 15-foot ceilings on floors one to four and 20-foot ceilings on floors five and six. Most Miami buildings marketed as lofts, including Neo Lofts, Filling Station Lofts, Wynwood Lofts and Loft Downtown I and II, are purpose-built new construction in a loft aesthetic dating from 2002 to 2016.
How much does a loft cost in Miami?
Downtown loft-style condominiums start around $282,000 to $307,000 and average $414 to $451 per square foot across Neo Lofts, Loft Downtown I and Loft Downtown II, on 2026 data. Large-format industrial lofts sit far higher: Parc Lofts runs roughly $1.3 million to $3.0 million at about $756 per square foot for units of 1,970 to 3,774 square feet.
Are Miami lofts good value compared with condos?
On a per-square-foot basis, clearly. Downtown loft product trades at roughly $414 to $451 per square foot while the Downtown luxury condo segment ran $730 per square foot in Q1 2026. Carrying costs are lower too: Loft Downtown II has an HOA near $0.93 per square foot per month against $4 to $7 in South Beach trophy towers.
Which Miami neighborhoods have lofts?
The concentrations are Downtown Miami with Loft Downtown I and II, the Arts and Entertainment District with Parc Lofts and Filling Station Lofts, Wynwood with Wynwood Lofts, Edgewater with Star, Bay and Uptown Lofts, and the Miami River and Brickell edge with Neo Lofts. South Beach has a small cluster of boutique loft buildings including Ilona Lofts and Montclair Lofts, and Coconut Grove has Lofts at Mayfair.
What are the largest lofts in Miami?
Parc Lofts has the largest floorplates of any loft building in the city, with units from 1,970 to 3,774 square feet. Filling Station Lofts runs 832 to 1,639 square feet with 18-foot ceilings. Most Downtown loft towers top out near 1,150 to 1,185 square feet.
Why does nobody build new lofts in Miami anymore?
Land economics. Edgewater and Brickell luxury condos traded at $978 and $950 per square foot in Q1 2026 while loft product trades near $420. A four to six-storey building with 35 to 70 units cannot compete for the same land as a 40-storey tower, and 20-foot ceilings consume roughly two conventional floors of height under fixed limits. No meaningful loft supply has been added since about 2016.
How long do Miami lofts take to sell?
Loft Downtown II averaged 129 days on market over the six months ending July 2026, with sold prices averaging $422 per square foot against an asking average of $451. Downtown carried 46 months of luxury inventory in Q1 2026, the highest in Greater Downtown, which gives buyers meaningful negotiating room.
Who buys lofts in Miami?
Three groups. Creative professionals, since Parc Lofts is documented as a favourite among photographers, musicians and artists and Wynwood Lofts is marketed as a live/work building. Entry-point urban buyers, because Downtown lofts start below $310,000 against a $425,000 Miami-Dade condo median. And rental investors attracted by the low HOA structure, with Loft Downtown II listing 17 units for rent against 15 for sale in July 2026.
Related coverage
Part of Miami Lofts.