Miami Lofts · South of Fifth · Ilona Lofts
16 homes make up Ilona Lofts.
By Josh Stein · Florida license SL3057661 · Updated 12 October 2026Leer en español →
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Verified 23 September 2026Miami-Dade County Property Appraiser1 source
Key Takeaways
- Ilona Lofts recorded only one sale in the 12 months to 23 September 2026 — on the Miami-Dade County Property Appraiser record, too few for a reliable median. The latest recorded sale was on 26 February 2026. Own at Ilona Lofts? Ask Josh what yours would sell for on WhatsApp.
- 16 homes make up Ilona Lofts, — at 221 Jefferson Avenue in Miami Beach’s South Pointe. The declaration closes at exactly 100% on the county’s common-element share test.
- Only 4 qualified sales closed here across the last four years, — with 2025 carrying none at all — too few to establish a current trend, and I’m saying so rather than building a table that implies one.
- The building’s current record sale is also its all-time record: — $1,150,000 on 6/19/2023, for a 1,241 sq ft home at unit 1 — $927 per square foot.
- 14 of the building’s 16 homes (87.5%) have a documented round trip, — and measured from its first recorded sale to its latest, every one gained: a median gain of 141.9% over a median 18.3-year hold. Resale by resale, 6 of the 36 resale pairs closed below the prior price.
- Every one of the building’s original buyers who has since resold made money on that first resale, — with gains ranging from +0.1% to +293.7%, across 14 homes.
Ilona Lofts, by the numbers
Architect: Chad Oppenheim. Source: the building record on this site.
221 Jefferson Avenue, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
Sixteen Homes on Jefferson Avenue in South Pointe
I pulled all 16 folios the Miami-Dade County Property Appraiser has on file for Ilona Lofts at 221 Jefferson Avenue, Miami Beach, FL 33139 — the county’s own neighborhood field for this address reads South Pointe. The declaration closes at exactly 100.0000% on the county’s common-element share test, and all 16 folios are residential homes; there are no commercial, parking or storage folios to exclude. This is a small building, with 16 homes.
Fourteen of the 16 homes carry 2 bedrooms; 2 carry none recorded. Heated area runs from 804 to 1,267 square feet, median 1,241, split across six floorplates: 1,241 sq ft and 1,267 sq ft (4 homes each, 25.0% apiece), with 1,248, 804, 1,133 and 1,079 sq ft at 2 homes each (12.5% apiece) rounding out the building.
On the 2026 tax roll, assessed values run from $519,652 to $857,313 across the 16 homes, with a median of $824,853 — a tight range for a small building.
The county record gives 2002 as the year built for all 16 homes. The four stories and the architect, Chad Oppenheim, come from the building record on this site, not from the county, and I have no amenity list, so none is published here.
Four Sales in Four Years — What the Record Can Say
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 2 | $900,000 | $868 |
| 2024 | 1 | $1,100,000 | $881 |
| 2025 | 0 | — | — |
| 2026 to date | 1 | $687,000 | $854 |
There were no qualified sales at Ilona Lofts in 2025. Only 4 sales closed across the whole four-year span — too few to establish a direction, and I’d rather say that plainly than build a percentage out of four data points. What I can say: the four sales ran from $808 to $927 per square foot. The 2023 sales were $650,000 for an 804 sq ft home ($808) and $1,150,000 for a 1,241 sq ft home ($927), the 2024 sale was $1,100,000 for a 1,248 sq ft home ($881), and the 2026 sale was $687,000 for an 804 sq ft home ($854). Against 16 homes, four sales in four years works out to a turnover of one home in 16 each year.
The building’s current record inside this window is $1,150,000, closed 6/19/2023, for a 1,241 sq ft home at unit 1 — $927 per square foot. That’s also the building’s all-time high on the county’s record.
Round Trips at Ilona Lofts: First Sale to Latest Sale
Looking at homes bought and later resold, both legs a qualified transaction: 14 of the building’s 16 homes (87.5%) have one. Measured from each home’s first recorded sale to its latest, every one gained. The median change across all 14 is +141.9%, over a median 18.3-year hold, and the range runs from +76.3% to +293.7%. Resale by resale it is less clean: 6 of the building’s 36 resale pairs closed below the prior price.
Almost every one of these round trips starts at the same point: the building’s original 2003 sales, mostly $191,900 to $447,200, and ends with a resale from 2011 through 2026 at $585,000 to $1,150,000. The building’s largest documented gain: a 1,248 sq ft home bought for $279,400 in May 2003 and sold for $1,100,000 in September 2024, +293.7% over 21.4 years. I don’t have enough sales volume — 4 in the last four years — to say this pattern is guaranteed to continue, but every original buyer who has since resold came out ahead on that first resale, even though some later owners resold at a loss.
Who Ilona Lofts Suits, and Who It Doesn’t
Ilona Lofts suits a buyer who wants a small South Pointe building with a long record: every home with a completed round trip shows a gain from first sale to latest. Four sales in four years, at $808 to $927 a square foot, are too few to call the building stable.
It suits buyers badly who need current market data or a fast comparable-driven negotiation. Four sales in four years, with a full year (2025) carrying none, means a buyer’s agent has very little recent activity to point to, and pricing will lean heavily on the building’s older history rather than fresh comparables.
If you are selling: your comparables are the four sales of the last four years, $808 to $927 per square foot. With volume this thin, expect a longer marketing period, and lean on the building’s historical record as part of your pitch: every original buyer who has resold came out ahead on that first resale.
Ilona Lofts — Frequently Asked Questions
How many homes are in Ilona Lofts?
The Miami-Dade County Property Appraiser lists 16 folios for Ilona Lofts at 221 Jefferson Avenue, Miami Beach, FL 33139 (South Pointe), and all 16 are residential homes. The declaration closes at exactly 100.0000% on the county’s common-element share test.
How many homes have sold recently at Ilona Lofts?
Only four across the last four years — two in 2023, one in 2024, one in 2026 to date, and none at all in 2025. Too few to establish a current trend, so no percentage direction is published from that data.
What is the highest price a home has sold for at Ilona Lofts?
The building’s current and all-time record is $1,150,000, closed 6/19/2023, for a 1,241 sq ft home at unit 1 — $927 per square foot.
Do owners at Ilona Lofts typically make or lose money?
Of the building’s 16 homes, 14 (87.5%) have a documented round trip, and measured from first recorded sale to latest, every one gained. The median change across all 14 is +141.9% over a median 18.3-year hold, with gains ranging from +76.3% to +293.7%. Resale by resale, 6 of 36 pairs closed below the prior price.
What did homes at Ilona Lofts originally sell for?
Most of the building’s original 2003 sales closed between $191,900 and $447,200. The largest documented gain since then: a 1,248 sq ft home bought for $279,400 in May 2003 and sold for $1,100,000 in September 2024, +293.7% over 21.4 years.
How often do homes turn over at Ilona Lofts?
With four qualified sales across the last four years against 16 homes, turnover works out to one home in 16 each year.
What is not known about Ilona Lofts from the county record?
The county record gives the year built (2002) but not the story count, architect or amenities. The four stories and the architect come from the building record on this site, and no amenity list is published here.
Own at Ilona Lofts?
If you own here, this page already carries the county’s record of what homes in Ilona Lofts have sold for. Here is how to use it.
Your three options
- Sell. Price against what comparable homes in the building have actually recorded, not against asking prices.
- Rent it out. Within the condominium’s rental rules, which vary from building to building.
- Hold. Watch the record: this page is updated from the county as new sales are posted.
What I will send you
Tell me your unit. I will send you the recorded sales of comparable homes in Ilona Lofts, what they sold for per square foot, and a straight read on what yours could sell for today.
Two free things for owners
Sources and further reading
Interested in selling at Ilona Lofts?
Learn more about selling your condo at Ilona Lofts with Josh Stein.
Thinking about Ilona Lofts?
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.comGet this building’s next recorded sale — before the listing sites catch up
- Every closed sale we can verify from the Miami-Dade record — price, date, and $/sqft when the deed supports it — not an IDX feed.
- Optional alert when a new deed posts in this building (or a short list of comps you choose).
- No spam inventory blasts. One building. One record. You decide what happens next.
Tell Josh which building. He’ll send the latest closed sales and set a quiet alert.
Get the sales record
Ilona 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.
Ilona Lofts was built in 2002 in South of Fifth with 16 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.