Building facts
- Address
- 650 West Avenue
- Neighborhood
- South Beach
- Year built
- 1997
- Floors
- 34
- Residences
- 334
- Status
- Completed
- Pricing
- Starting at $410,000
Key Takeaways
- The headline price fell 21.7% and the market fell 8.2% — median sale price went from $1,100,000 in 2023 to $861,250 so far in 2026, but median price per square foot moved only from $993 to $912. Most of that gap is what sold, not what it is worth.
- The median home sold shrank from 1,078 sq ft to 912 — it was 1,078 sq ft in 2023, 2024 and 2025 — three identical years — and then 15.4% smaller in 2026.
- 334 homes, and 58.7% of them sit on just two floorplans — 100 homes at 1,147 sq ft and 96 at 1,078 sq ft, which makes this one of the easier buildings in South Beach to price honestly.
- Those two plans do not trade alike — over four years the 1,147 sq ft plan cleared a median $1,053 per sq ft against $937 for the 1,078 — 12.4% apart on homes that differ in size by 6%.
- 63 qualified sales in four years on 334 homes — about one home in 21 per year — average liquidity for a building this size, and enough transactions to trust the per-foot figures.
- One 2023 sale sits far outside the building’s own range — a 687 sq ft home at $381,100, or $555 per sq ft, against a four-year median of $959. It is flagged qualified by the county; I have left it in the record and named it rather than averaging it in quietly.
650 West Avenue, Miami Beach, Florida 33139 | Neighborhood: South Beach
What is actually in the building
The county returns 335 folios for 650 West Avenue. 334 of them are homes; the remaining one is an exempt commercial folio. That is unusually clean. Most bayfront buildings of this size carry a tail of parking, cabana and storage folios that has to be stripped out before any figure means anything, and this one does not.
The homes run from 573 sq ft to 2,147 sq ft, with a median of 1,078. The bedroom mix is 73 one-bedrooms, 212 two-bedrooms and 49 three-bedrooms — a two-bedroom building, decisively. For 2026 the county assesses them between $197,054 and $2,461,260, median $745,321.
The detail that matters most for anyone trying to value a home here is the floorplan concentration. 100 homes are 1,147 sq ft and 96 are 1,078 sq ft. That is 58.7% of the building on two plans. In a tower where every home is bespoke, a per-foot median is a blunt instrument. Here it is a sharp one, because most sales are genuinely comparable to most other sales.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 19 | $1,100,000 | $993 |
| 2024 | 21 | $975,000 | $928 |
| 2025 | 15 | $1,070,000 | $965 |
| 2026 to date | 8 | $861,250 | $912 |
This is a well-evidenced record. 63 qualified sales across four years, with nineteen and twenty-one in the first two years, is enough to take the per-foot line seriously rather than treating it as noise.
Read down the right-hand column and the building is down 8.2% per square foot over four years, with a dip in 2024, a partial recovery in 2025 and a softer 2026. Read down the middle column instead and it is down 21.7%. Those two numbers describe the same 63 transactions. Only one of them is about the market.
On liquidity: 63 sales against 334 homes is about one home in 21 per year. That is unremarkable, which is a compliment — it means the building trades regularly enough that a seller has recent comparable evidence and a buyer is not guessing.
One transaction is worth naming rather than burying. In March 2023 a 687 sq ft home recorded at $381,100 — $555 per square foot, against a four-year median of $959 and a band that otherwise runs to $1,395. The county flags it qualified, and I have not removed it from the counts. But a sale 42.1% below the building’s own median rate is not evidence of what a home here is worth, and you should not let anyone use it as a comparable without explaining it first.
The record high for the building is $2,000,000, paid in September 2014 for a 2,102 sq ft home at $951 per sq ft. Nothing since has beaten it on price, though two recent sales have beaten it comfortably on rate: $1,735,000 in December 2023 at $1,284 per sq ft, and $1,675,000 in June 2025 at $1,357.
Why did the headline price fall three times as fast?
Because a smaller home sold. That is the entire explanation, and this building demonstrates it more cleanly than almost any other I have measured.
Look at the median size of the home that actually changed hands each year:
| Year | Median size sold | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 1,078 sq ft | $1,100,000 | $993 |
| 2024 | 1,078 sq ft | $975,000 | $928 |
| 2025 | 1,078 sq ft | $1,070,000 | $965 |
| 2026 to date | 912 sq ft | $861,250 | $912 |
Three consecutive years in which the median home sold was exactly the same size, and then a fourth in which it was 15.4% smaller. Nothing about the building changed. What changed is which homes came to market.
The arithmetic is worth doing out loud. A home of 2023’s median size, sold at 2026’s median rate per foot, would be 1,078 × $912 = $983,136. The actual 2026 median is $861,250. So of the $238,750 that came off the headline median, roughly $121,886 — about half — is the size of the home, not the price of the market. The rest, the genuine softening, is the 8.2% the per-foot column already told you.
This is the single most common way a condo building gets misreported, and it cuts both ways. A seller shown a 21.7% decline will price defensively and give away money. A buyer shown the same figure will expect a discount the record does not support. Neither is reading the market; both are reading the mix.
The two dominant floorplans add a last wrinkle, and it is a genuine one. Over four years the 1,147 sq ft plan cleared a median $1,053 per square foot across sixteen sales, while the 1,078 sq ft plan cleared $937 across twenty-two. That is a 12.4% gap in rate between two plans that differ in size by about 6%. The county record shows the gap; it does not say why, and exposure, floor level and outlook are not in the public record. If you are comparing two homes here, establish which plan each one is before you compare anything else.
Who this building suits, and who it does not
It suits a buyer who wants a two-bedroom on the bay and wants to be able to check the price. With 212 two-bedrooms, 58.7% of the building on two plans and 63 qualified sales in four years, there is more genuinely comparable evidence here than in most South Beach towers. That is worth real money at the negotiating table, and it is the strongest practical argument for the building.
It suits badly a buyer who wants something singular. The largest home on the record is 2,147 sq ft and the three-bedroom count is 49 out of 334. If you want scale, or you want a home that is unlike its neighbours, this is a building where you will be one of many owners of the same floorplan — which is excellent for pricing and poor for scarcity.
It also suits badly anyone who buys or sells on a headline number. This is the building where that mistake is most expensive, because the headline and the market have been telling different stories for four years.
If you are selling here, insist that your comparables are the same floorplan, not merely the same building — a 1,147 and a 1,078 are 12.4% apart per foot on the four-year record, and treating them as interchangeable will cost you or your buyer real money. And if a valuation leans on the 21.7% fall in median price, ask whether it has adjusted for the fact that the median home sold in 2026 was 166 sq ft smaller than the one sold in 2023. On this record, that single question is worth about $120,000.
Verified 18 August 2026 against the Miami-Dade County Property Appraiser record for 650 West Ave — all 335 folios retrieved individually, grouped by subdivision and filtered to residential homes, excluding one exempt commercial folio along with parking, cabana and storage. Sale figures are qualified, arm’s-length transactions only, with bulk/portfolio transfers collapsed to a single transaction. 2026 is an incomplete year. 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 Floridian — Frequently Asked Questions
How much does a home at The Floridian sell for?
Over the four years to August 2026 the building cleared a median $959 per square foot. In 2026 so far the median sale is $861,250 at $912 per sq ft; in 2023 it was $1,100,000 at $993. Homes run 573 to 2,147 sq ft, so the per-foot figure is the one that travels between them.
Have prices at The Floridian gone down?
Per square foot, yes, but modestly: $993 in 2023 to $912 so far in 2026, a fall of 8.2%. The median sale price fell 21.7% over the same period, but roughly half of that is because the median home sold in 2026 was 912 sq ft against 1,078 sq ft in each of the three preceding years.
How many units are in The Floridian?
The county records 334 homes at 650 West Avenue, plus one exempt commercial folio. The mix is 73 one-bedrooms, 212 two-bedrooms and 49 three-bedrooms.
Which floorplans are most common?
Two dominate: 100 homes at 1,147 sq ft and 96 at 1,078 sq ft, together 58.7% of the building. Over four years the 1,147 plan cleared a median $1,053 per sq ft and the 1,078 plan $937 — a 12.4% difference, so identify the plan before comparing prices.
How often do homes here change hands?
The county records 63 qualified sales across the four years to August 2026 — about one home in 21 per year. That is enough transaction volume for recent, genuinely comparable evidence, which is not true of every building this size.
What is the highest price ever paid at The Floridian?
$2,000,000, in September 2014, for a 2,102 sq ft home — $951 per square foot. Two later sales beat it on rate without beating it on price: $1,735,000 in December 2023 at $1,284 per sq ft, and $1,675,000 in June 2025 at $1,357.
Why is there a sale on the record at $555 per square foot?
A 687 sq ft home recorded at $381,100 in March 2023. The county flags it as a qualified transaction and it remains in the counts here, but at 42.1% below the building’s four-year median rate it should not be used as a comparable without an explanation for it.
Sources and further reading
Interested in selling at The Floridian?
Learn more about selling your condo at The Floridian in Miami Beach with Josh Stein.
Related coverage
Part of Miami Luxury Condos.