Building facts
- Address
- 3737 Collins Avenue
- Neighborhood
- Miami Beach
- Year built
- 2008
- Floors
- 19
- Residences
- 103
- Status
- Completed
- Developer
- Bluerock
- Architect
- Kobi Karp
- Pricing
- Starting at $3.19 Million
Key Takeaways
- It is one condominium filed across two buildings — 3737 and 3739 Collins Avenue — a 69-home South building and a 35-home North building, 104 homes in total, sharing a single declaration of condominium.
- The two buildings do not trade alike, and it is not close — over the last four years the South cleared a median $1,983 per square foot and the North $970. A comparable drawn from the wrong building is out by a factor of two.
- Almost nobody here has lost money — 96 resales on the county record and only 7.3% sold for less than the owner paid, at a median gain of 57.5%. The median across the buildings I measure is a 20.7% loss rate.
- The sell-out was 2009–10 — at the bottom — of the 57 resales by those original buyers, 1.8% lost money. Of the 20 who held to 2021 or later, not one did, at a median gain of +123.1%.
- The record is $13,433,000 — paid on 17 February 2021 for a 3,911 sq ft penthouse — $3,435 per square foot, and the deed conveyed a cabana with it.
- It trades rarely — fourteen qualified sales in four years against 104 homes — about one home in 30 a year, against an index median of one in 23.
3737 Collins Avenue, Miami Beach, Florida 33140 | Neighborhood: Miami Beach
What is actually in the building
The Caribbean is one condominium occupying two addresses. The county files 3737 and 3739 Collins Avenue under a single declaration, and returns 109 folios across the two. 104 are homes — 69 in the South building and 35 in the North. Of the remaining five, four are cabanas of 474 to 505 sq ft and one is a reference folio carrying no dwelling; all five are excluded from every residential figure here.
If you check one address and find 69 homes, you have found part of the building. The undivided ownership shares across all 109 folios sum to the whole, which is how I know the record is now complete.
The homes run from 673 sq ft to 3,911 sq ft, median 1,621, and the mix is 16 one-bedrooms, 68 two-bedrooms, 16 three-bedrooms and four four-bedrooms. Four floorplates carry most of the South building — 16 homes each at 1,421, 1,621, 1,837 and 2,326 sq ft — while the smallest homes, five at 673 sq ft and five at 982, are all in the North.
For 2026 the county assesses the homes between $398,197 and $12,039,530, median $2,143,658. That 30-fold spread is not an artifact. It is the two buildings.
Why a comparable from the wrong building is out by half
This is the single most useful thing on the page, and almost nothing published about The Caribbean acknowledges it.
| South — 3737 Collins | North — 3739 Collins | |
|---|---|---|
| Homes | 69 | 35 |
| Size range | 1,347–3,911 sq ft | 673–1,748 sq ft |
| Median size | 1,837 sq ft | 1,589 sq ft |
| Bedroom mix | 48 two-bed, 16 three-bed, 4 four-bed | 15 one-bed, 20 two-bed |
| 2026 assessed, median | $2,678,058 | $1,034,577 |
| Last four years, median $/sq ft | $1,983 | $970 |
| Last four years, band | $1,724–$2,449 | $823–$1,117 |
The South building has cleared just over twice the North’s price per square foot over the last four years, and the county assesses it at about two and a half times. There is no overlap at all between the two bands: the cheapest South sale in four years, at $1,724 per square foot, is above the dearest North sale, at $1,117.
So a per-foot figure quoted for “The Caribbean” without naming the building is close to meaningless, and any building-level average — including the ones a portal will show you — sits in a gap where no home actually trades. Ask which address before you use any number about this condominium, including the ones on this page.
Two honest limits. The North building has recorded only two qualified sales in four years — $823 per square foot in March 2023 and $1,117 in May 2026 — so its level is thinly evidenced and I would not defend $970 as a precise figure. And part of the gap is simply size and bedroom count: the North is one- and two-bedroom homes, the South is two- to four-bedroom. What the record cannot tell me is how much of the remainder is view, floor or condition, because the county records transactions, not reasons.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 3 | $2,800,000 | $1,727 |
| 2024 | 2 | $3,437,500 | $1,834 |
| 2025 | 5 | $4,375,000 | $2,221 |
| 2026 to date | 4 | $3,043,750 | $1,852 |
Read that table with the section above in mind. It combines both buildings, so the year-to-year movement partly reflects which building happened to sell. 2025’s $2,221 is five South sales and no North ones; 2026’s $1,852 includes a North sale at $1,118. No four-year change is published and the building carries a dash in my Miami Condo Index, because no year here reaches the five qualified sales my rule requires at both ends.
Across the four-year window the condominium cleared a median $1,909 per square foot in a band from $823 to $2,450, at a median price of $3,487,500 on 14 sales. That band is wide because it spans two buildings, and it is the honest one to quote.
The record price is $13,433,000, paid on 17 February 2021 for a 3,911 sq ft penthouse — $3,435 per square foot, the highest per-foot figure the condominium has recorded. That deed conveyed a cabana along with the home, so a small part of the price bought something other than the apartment, and the per-foot figure is very slightly overstated as a result.
Against 104 homes, 14 sales in four years works out at about one home in 30 a year — slower than the median building in my index, which turns over one home in 23.
The ownership record here is one of the best I hold. The county shows 96 resales and only seven of them at a loss — 7.3% — against a median of 20.7% across the buildings where I have at least five resales to measure, at a median gain of 57.5%.
The reason is when it sold. Eighty-nine of the building’s 198 recorded qualified sales fall in 2009 and 2010, at the bottom of the market. Of the 57 resales by those original buyers, 1.8% lost money, at a median gain of 92.2%. Of the 20 who held on until 2021 or later, not one lost money, and the median gain was 123.1%. The best single outcome on the record is a 1,617 sq ft home bought for $1,031,700 in January 2010 and sold for $3,312,500 in October 2014 — up 221.1%.
The people who bought after 2010 have done well but not nearly as well: 35 resales, a 14.3% loss rate and a median gain of 31.4%. And the worst outcome on the whole record belongs to a buyer who came in before the sell-out — $1,300,000 in December 2008, sold for $975,000 in April 2011, down 25.0%. Thirty-two folios recorded a sale in 2009–10 and have never sold again, so those outcomes are untested.
Who this building suits, and who it does not
It suits a buyer who knows which of the two buildings they want and prices accordingly. The North is the way into this condominium at roughly half the per-foot cost; the South is the larger, higher-priced product. Both are the same association and the same land.
It suits a buyer taking a long view. Every outstanding result on this record ran a decade or more, and the median owner who held from the 2009–10 sell-out into the 2020s more than doubled their money.
It suits badly anyone who needs to sell quickly. Fourteen qualified sales in four years across 104 homes is one home in 30 a year, and the North building has produced two sales in that entire period.
It suits badly a buyer relying on any automated valuation. A tool that averages across both buildings will produce a number that describes neither, and one that finds only the South — which is what happens if you search a single address — will overstate a North home by roughly double.
If you are selling here, name your building first and price from its own band. In the South that is $1,724 to $2,449 per square foot across 12 sales, with the strongest evidence in 2025: $2,450, $2,382 and $2,221. In the North it is two sales, $823 and $1,117, and you should expect a buyer to say that is thin — the honest counter is the ownership record, not the per-foot figure. What no seller in either building should do is quote the $3,435 per square foot from February 2021: it is a penthouse, it is five years old, and the deed included a cabana.
Verified 19 August 2026 against the Miami-Dade County Property Appraiser record for 3737 and 3739 Collins Ave, Miami Beach — all 109 folios across both addresses retrieved individually, grouped by subdivision and filtered to residential homes, excluding four cabana folios and one reference folio. This condominium spans two street addresses and a pull at either one alone returns roughly two thirds or one third of it; completeness was confirmed by checking that the undivided common-element interests across all 109 folios sum to the whole. Sale figures are qualified, arm’s-length transactions only, with bulk/portfolio transfers collapsed to a single transaction. The record sale of 17 February 2021 conveyed a cabana together with the home, which is disclosed above rather than netted out. Resale outcomes are computed from consecutive qualified sales on the same folio; 32 folios whose only recorded sale falls in the 2009–10 sell-out have never resold and appear in no resale figure. 2026 is an incomplete year. Assessed values are the county’s, not market valuations. Building age, storey count, architect and amenity detail are omitted: no primary source has been confirmed for them. Re-check when the next tax roll publishes.
The Caribbean — Frequently Asked Questions
How many homes are there at The Caribbean?
One hundred and four. The condominium spans two addresses — 3737 Collins Avenue, the South building with 69 homes, and 3739 Collins Avenue, the North building with 35. The county returns 109 folios across both, of which four are cabanas and one is a reference folio. The undivided ownership shares sum to the whole, which confirms the record is complete.
Is The Caribbean one building or two?
Two buildings, one condominium. North and South share a single declaration, one association and one parcel of land, but they are separate structures at separate street numbers, and they trade at very different prices.
How much does a home at The Caribbean sell for?
It depends entirely on which building. Over the four years to August 2026 the South cleared a median $1,983 per square foot in a band from $1,724 to $2,449, and the North a median $970 in a band from $823 to $1,117. Across both, the median was $1,909 per square foot at a median price of $3,487,500 on 14 sales.
Why is the price per square foot at The Caribbean so different between the two buildings?
Partly size and bedroom count — the North is one- and two-bedroom homes from 673 sq ft, the South is two- to four-bedroom homes from 1,347 sq ft. The county records transactions and not reasons, so how much of the rest is view, floor or condition is not something the record can tell you. What it does show is that the two bands do not overlap at all.
Have owners at The Caribbean made money?
Almost all of them. The county records 96 resales and only 7.3% sold for less than the owner paid, at a median gain of 57.5%, against a median 20.7% loss rate across the buildings I measure. Of the 20 sell-out buyers who held until 2021 or later, not one lost money and the median gain was 123.1%.
When did The Caribbean sell out?
In 2009 and 2010 — 89 of the building’s 198 recorded qualified sales fall in those two years, at the bottom of the market. That timing is the main reason its ownership record is as strong as it is.
What is the highest price ever paid at The Caribbean?
$13,433,000, on 17 February 2021, for a 3,911 sq ft penthouse — $3,435 per square foot, which is also the highest per-foot figure on record. The deed conveyed a cabana along with the home, so a small part of that price bought something other than the apartment.
How often do homes at The Caribbean come up for sale?
Rarely — 14 qualified sales in the four years to August 2026 against 104 homes, about one home in 30 a year, against an index median of one in 23. The North building recorded only two sales in that entire period.
Sources and further reading
Interested in selling at The Caribbean?
Learn more about selling your condo at The Caribbean with Josh Stein.
Related coverage
Part of Miami Luxury Condos.