Building facts
- Address
- 361 Jefferson Avenue
- Neighborhood
- South of Fifth
- Year built
- 2002
- Floors
- 3
- Residences
- 4
- Status
- Completed
- Pricing
- Starting at $1.1 Million
Verified 25 August 2026Miami-Dade County Property Appraiser1 source
Fountainhead — photography to follow
Key Takeaways
- Four homes, no two the same size — 1,502, 1,574, 1,590 and 1,606 square feet, all two-bedrooms. In a four-home building with four different floorplates, there is no comparable sale inside these walls.
- The smallest home is the most valuable — in April 2022 the 1,502 sq ft home sold for $2,000,000 — $1,332 per square foot. In July 2024 the 1,606 sq ft home, the largest, sold for $1,800,000 at $1,121. Size is not what prices this building.
- One home rose 82% in fourteen months — that same 1,502 sq ft apartment sold for $1,100,000 in February 2021 and $2,000,000 in April 2022. Same home, same floorplate, fourteen months apart.
- Across twenty-two years it has multiplied more than fourfold — the 1,502 sq ft home sold for $450,000 in March 2002 when the building was new. Its 2022 price is 4.4 times that.
- The county values all four almost identically — 2026 assessments run $1,324,613 to $1,388,712 — a spread of under 5%. The sale record spreads them much further than that, which is worth knowing before reading an assessment as a valuation.
- One of the five folios is not a home — the fifth is a reference folio for the underlying land parcel. Four homes, not five.
Fountainhead, by the numbers
Starting at $1.1 Million. Source: the building record on this site.
361 Jefferson Avenue, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
The Fountainhead has four homes. They are within a hundred square feet of one another in size, the county values them within 5% of one another — and they have sold at prices nearly 20% apart, with the smallest of the four setting the record. That gap between how this building is assessed and how it actually trades is the most useful thing in its file.
What the county records at 361 Jefferson Avenue
The Miami-Dade County Property Appraiser returns five folios at 361 Jefferson Avenue in one declaration, THE FOUNTAINHEAD CONDO. Four are homes. The fifth is a reference folio — the underlying land parcel, carrying no bedrooms, no square footage and no share. It is not a residence and is excluded from every figure below.
The four homes are 1,502, 1,574, 1,590 and 1,606 square feet, and all four are two-bedrooms. No two are the same size, though they are close enough that the building reads as one apartment repeated with minor variations.
The declaration’s common-element shares close at 99.9100%, within normal rounding of the whole, so the pull is complete and no folio is missing.
For 2026 the county assesses the four homes between $1,324,613 and $1,388,712, a median of $1,367,943. That is a spread of under 5% from smallest to largest.
The smallest home is the most expensive
The two most recent sales sit two years apart and point in opposite directions to what size alone would predict:
| Date | Size | Price | $/sq ft |
|---|---|---|---|
| 1 April 2022 | 1,502 sq ft (smallest) | $2,000,000 | $1,332 |
| 11 July 2024 | 1,606 sq ft (largest) | $1,800,000 | $1,121 |
The smallest home sold for $200,000 more than the largest, and for 19% more per square foot. In a building of four near-identical apartments, that difference is not floorplate. It is floor, outlook, condition and the specific transaction — and it is the reason an assessment spread of 5% should not be read as a value spread of 5%.
The 1,502 sq ft home carries the fullest history in the building:
| Date | Price | $/sq ft |
|---|---|---|
| March 2002 | $450,000 | $300 |
| August 2009 | $575,000 | $383 |
| August 2014 | $1,075,000 | $716 |
| February 2021 | $1,100,000 | $732 |
| April 2022 | $2,000,000 | $1,332 |
Two things stand out. Between 2014 and 2021 it went almost nowhere — $1,075,000 to $1,100,000 across nearly seven years. Then it rose 82% in fourteen months. Across the full twenty-two years from the building’s launch, $450,000 became $2,000,000: a multiple of 4.4.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 0 | — | — |
| 2024 | 1 | $1,800,000 | $1,121 |
| 2025 | 0 | — | — |
| 2026 to date | 0 | — | — |
One sale in four years. With four homes in the building that is not a signal of weakness; it is what a four-home building looks like. The full record runs to seventeen qualified sales since 2002, which is where the useful history lives.
The building opened at $245 to $300 per square foot across four sales in 2002. The most recent per-foot figure is $1,121, and the highest is $1,332.
Who this building suits, and who it does not
It suits a buyer who wants a large two-bedroom in a four-home building. Every home here is over 1,500 square feet and there are only four of them, on Jefferson Avenue in South Beach. That is a specific thing to want and this building is one of the few places to get it.
It suits a buyer who will judge the apartment rather than the average. The evidence says the individual home matters more here than the floorplate — a 6% size difference produced a 19% per-foot difference in the two most recent sales.
It suits badly anyone relying on the assessed value. The county puts all four within 5% of each other. The market has not.
And it suits badly a buyer who needs recent evidence. One sale since 2022. Any valuation here leans on the 2024 sale and the 2022 record, and should say so.
If you are selling here: your comparable is the other three homes and the whole set has sold seventeen times in twenty-two years. The strongest fact available to you is that the building’s record price was set by its smallest apartment — so do not let a valuation be anchored to square footage, and do not let it be anchored to an assessment that treats all four homes as interchangeable.
The Fountainhead — Frequently Asked Questions
How many units are in The Fountainhead?
Four. The county returns five folios at 361 Jefferson Avenue, but one is a reference folio for the underlying land parcel rather than a residence. The four homes are all two-bedrooms.
How big are the homes at The Fountainhead?
1,502, 1,574, 1,590 and 1,606 square feet. All four are two-bedrooms and no two are exactly the same size.
What is the highest price paid at The Fountainhead?
$2,000,000, in April 2022 — and it was paid for the smallest home in the building, at $1,332 per square foot. The largest home sold for $1,800,000 in July 2024.
How often do homes sell at The Fountainhead?
Rarely. Seventeen qualified sales since 2002, and just one in the last four years — July 2024. With four homes in the building, that is normal rather than a sign of weak demand.
Are the county assessments a good guide to value here?
Not on their own. The 2026 assessments run from $1,324,613 to $1,388,712 — under 5% apart. The two most recent sales were 19% apart per square foot, and the smaller home was the dearer one.
Sources and further reading
Interested in selling at Fountainhead?
Learn more about selling your condo at Fountainhead with Josh Stein.
Thinking about Fountainhead?
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.
Call (305) 695-8257Send me a question
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.com
Fountainhead 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.
Fountainhead was built in 2002 in South of Fifth with 4 units across 3 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.