Building facts
- Address
- 734 Michigan Avenue
- Neighborhood
- South Beach
- Year built
- 2006
- Floors
- 4
- Residences
- 7
- Status
- Completed
- Pricing
- Starting at $675,000
Verified 25 August 2026Miami-Dade County Property Appraiser1 source
7 Townhomes — photography to follow
Key Takeaways
- One home nearly doubled in three years — a 1,130 sq ft home sold for $500,000 in February 2021 and $970,000 in June 2024 — up 94%, and the only sale the building has recorded in the last four years.
- That plan took seven years just to regain its launch price — it opened at $491,000 in April 2007, fell to $430,000 by 2011, and did not clear 2007 until $630,000 in 2014.
- The largest home has sold once, seventeen years ago — the 2,103 sq ft home traded in March 2009 at $540,000 — $257 per square foot, the lowest in the building’s entire record. It has not been sold since.
- The most common plan went nowhere for a decade — the 1,381 sq ft home sold at $490,000 in 2007 and $585,000 in 2021 — and spent 2008 to 2012 between $325,000 and $485,000.
- Seven homes, four floorplates, all two-bedrooms — 1,130 (two homes), 1,150 (one), 1,381 (three) and 2,103 (one). The largest home is nearly twice the size of the smallest.
- One of the eight folios is not a home — the eighth is a reference folio for the underlying land parcel. Seven homes, and the declaration closes at exactly 100.0000%.
7 Townhomes, by the numbers
Starting at $675,000. Source: the building record on this site.
734 Michigan Avenue, Miami Beach, Florida 33139 | Neighborhood: South Beach
Seven homes, and their histories could hardly be less alike. One plan has nearly doubled since 2021. Another spent a decade going sideways. And the largest home in the building has sold exactly once, in 2009, at the cheapest per-foot price this address has ever recorded.
What the county records at 734 Michigan Avenue
The Miami-Dade County Property Appraiser returns eight folios at 734 Michigan Avenue in one declaration, 734 MICHIGAN CONDO. Seven are homes. The eighth is a reference folio for the underlying land parcel — no bedrooms, no square footage, no share — and it is excluded from everything below.
The common-element shares close at exactly 100.0000%, so nothing is missing from the pull.
The seven homes run 1,130 to 2,103 square feet, median 1,381, across four floorplates: 1,381 sq ft (three homes), 1,130 (two), 1,150 (one) and 2,103 (one). All seven are two-bedrooms.
For 2026 the county assesses them from $362,638 to $891,528, a median of $482,695.
Two plans, two completely different histories
The 1,130 sq ft plan is the building’s success story, and it took a long time to become one:
| Date | Price | $/sq ft |
|---|---|---|
| April 2007 | $491,000 | $435 |
| May 2008 | $484,170 | $428 |
| February 2011 | $430,000 | $381 |
| August 2014 | $630,000 | $558 |
| May 2019 | $540,000 | $478 |
| February 2021 | $500,000 | $442 |
| June 2024 | $970,000 | $858 |
Read that sequence carefully. It sold for $500,000 in February 2021 — nine thousand dollars more than it fetched at launch fourteen years earlier. Then it sold for $970,000 three years after that. Almost all of this building’s appreciation happened between 2021 and 2024.
The 1,381 sq ft plan, which three homes share, tells the slower version: $490,000 in September 2007, then $380,000, $365,000 and $325,000 through 2008–2011, recovering to $485,000 in 2012 and $620,000 in 2014, then $550,000 in both 2017 and 2018, and $585,000 in June 2021. Fourteen years, and it ended up 19% above where it started.
The 2,103 sq ft home is the outlier in every sense. It has sold once, in March 2009, for $540,000 — $257 per square foot, which remains the lowest per-foot figure in the building’s record by a wide margin. It has not traded in the seventeen years since. The county assesses it at $891,528 for 2026, well above every other home here.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 0 | — | — |
| 2024 | 1 | $970,000 | $858 |
| 2025 | 0 | — | — |
| 2026 to date | 0 | — | — |
One sale in four years. That single transaction is also the highest price and the highest per-foot figure the building has ever recorded, which makes it simultaneously the most current evidence available and a very thin basis for a valuation. The full record runs to eighteen qualified sales since 2007.
Who this building suits, and who it does not
It suits a buyer who wants a townhouse-scale home in a seven-unit building. Every home here is at least 1,130 square feet and all are two-bedrooms — there is no small unit and no studio in the building at all.
It suits a buyer with a long horizon. The record is unambiguous about the shape of returns here: fourteen flat years followed by a sharp three. Anyone who needed to sell between 2008 and 2021 did so at or below the 2007 price.
It suits badly anyone pricing off the 2024 sale alone. $970,000 at $858 per foot is one transaction, on the smaller of the two common plans, and there is nothing since to confirm it.
And it suits badly a buyer looking for the largest home to be the best value. The 2,103 sq ft home is assessed far above the rest and has no sale history this decade, so there is no market evidence for what it is worth.
If you are selling here: know which plan you own, because they have behaved completely differently. If it is the 1,130, the June 2024 sale at $970,000 is powerful and recent evidence. If it is the 1,381, your most recent comparable is June 2021 at $585,000 and the plan’s history is far flatter — the 2024 figure is not yours to use directly.
7 Townhomes — Frequently Asked Questions
How many units are in 7 Townhomes?
Seven. The county returns eight folios at 734 Michigan Avenue, but one is a reference folio for the underlying land parcel. The declaration’s common-element shares close at exactly 100.0000%, so nothing is missing.
How big are the homes at 7 Townhomes?
1,130 to 2,103 square feet, median 1,381, across four floorplates — 1,381 sq ft (three homes), 1,130 (two), 1,150 (one) and 2,103 (one). All seven are two-bedrooms.
What is the highest price paid at 7 Townhomes?
$970,000, in June 2024, for a 1,130 sq ft home at $858 per square foot. That is also the only qualified sale the building has recorded in the last four years.
Has the largest home at 7 Townhomes ever sold?
Once. The 2,103 square foot home sold in March 2009 for $540,000, at $257 per square foot — the lowest per-foot price in the building’s record. It has not traded since, so there is no recent market evidence for its value.
Have prices at 7 Townhomes gone up?
Recently and sharply, after a long flat period. The 1,130 sq ft plan sold for $491,000 in 2007 and was still at $500,000 in February 2021 — then $970,000 in June 2024. The 1,381 sq ft plan went from $490,000 in 2007 to $585,000 in 2021.
Sources and further reading
Interested in selling at 7 Townhomes?
Learn more about selling your condo at 7 Townhomes with Josh Stein.
Thinking about 7 Townhomes?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.com
7 Townhomes 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.
7 Townhomes was built in 2006 in South Beach with 7 units across 4 floors. That places it squarely inside the loft-construction window — the pre-crisis condo boom that produced essentially all of Miami’s loft inventory. No meaningful loft product has been added since.
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.