Building facts
- Address
- 421 Meridian Avenue
- Neighborhood
- South of Fifth
- Year built
- 2011
- Floors
- 4
- Residences
- 20
- Status
- Completed
- Pricing
- Starting at $890,000
Key Takeaways
- 20 homes make up Meridian 5 Lofts, — at 421 Meridian Avenue in Miami Beach’s South of Fifth — the same 38-folio declaration also holds 17 separate commercial “Store” folios, so residential homes are a minority of the building’s own record.
- Only 4 qualified sales closed here across the last four years, — as few as one in three of the four years, with none at all so far in 2026 — too thin to support a firm trend.
- The building’s current-window record sale is recent: — $875,000 on 1/30/2024, for a 941 sq ft home at unit 8 — $930 per square foot.
- The building’s all-time record sits well above the current window: — $1,280,000, closed 5/2/2022, for a 1,013 sq ft home at unit 15 — $1,264 per square foot, a rate none of the four current-window sales has come close to matching.
- 16 of the building’s 20 homes (80.0%) have a documented round trip, — and every single one gained — 0 losses on record, a median gain of 78.7% over a median 9.0-year hold.
- The building’s commercial component had its own bulk sale, — $1,250,000 in January 2015, spanning 16 of the 17 small retail “Store” folios — a separate transaction from anything in the residential figures on this page.
421 Meridian Avenue, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
Twenty Homes Inside a Mostly-Commercial Meridian Avenue Declaration
I pulled all 38 folios the Miami-Dade County Property Appraiser has on file for Meridian 5 Lofts at 421 Meridian Avenue, Miami Beach, FL 33139. The declaration closes at 99.9099% on the county’s common-element share test, with one folio carrying no recorded share, sized instead from its square footage — close enough to complete that I’m treating the pull as whole. Of the 38 folios, only 20 are residential homes; the other 18 split between 17 small commercial “Store” units and 1 reference folio. This is a genuinely mixed-use declaration, not a residential building with a token ground-floor shop — residential homes make up barely half of the total folio count.
Among the 20 homes, 6 carry 1 bedroom and 14 carry 2. Heated area runs from 559 to 1,137 square feet, median 946. On the 2026 tax roll, the 20 homes carry assessed values from $375,920 to $945,544, with a median of $647,187.
I don’t have a confirmed year built, story count, architect or amenity list for this building beyond what the county record carries — none of that is in the property record, and I’d rather say so than fill it in from a listing site.
Four Sales in Four Years, Well Below the Building’s All-Time High
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 2 | $784,000 | $882 |
| 2024 | 1 | $875,000 | $930 |
| 2025 | 1 | $870,000 | $914 |
| 2026 to date | 0 | — | — |
Only 4 qualified sales have closed across the whole four-year span, as few as one in three of the four years — too thin to support a firm trend, though median $/sq ft did move from $882 in 2023 to $914 in 2025, up 3.6%, without a single year dipping below that 2023 level. Against 20 homes, that’s a turnover of roughly one home in 20 each year. There have been no qualified sales at all so far in 2026.
None of the current window’s four sales come close to the building’s all-time record: $1,280,000, closed 5/2/2022, for a 1,013 sq ft home at unit 15 — $1,264 per square foot, nearly 36% above the current window’s highest rate ($930 in 2024). That gap is real and worth naming plainly; I don’t have enough recent sales to say whether it reflects a genuine cooling from a 2022 peak or simply which specific units happened to trade in the years since — with four data points, I’d call that an open question, not a conclusion.
Why Has Every Completed Round Trip at Meridian 5 Lofts Made Money?
Looking at homes bought and later resold, both legs a qualified transaction over $10,000: 16 of the building’s 20 homes (80.0%) have one. All 16 gained. Not one has sold for less than the previous owner paid. The median change across all 16 is +78.7%, over a median 9.0-year hold, and the range runs from +25.7% to +175.3%.
Nearly every one of these round trips starts at the same point: the building’s original sales in October and November 2011, mostly $384,000 to $565,000, paired with a resale between 2014 and 2024. The building’s largest documented gain: unit 15, 1,013 square feet, bought for $465,000 in November 2011 and sold for $1,280,000 in May 2022 — the same sale that stands as the building’s all-time record described above — +175.3% over 10.4 years. Even the building’s smallest gain, +25.7%, closed on a comparatively short 3.6-year hold, which is a genuinely fast turnaround for a positive outcome in this cluster. With only 16 completed round trips, I wouldn’t call this pattern guaranteed to continue, but every one of them on record has been positive.
Separate from the residential figures above: the building’s commercial component had its own transaction, a $1,250,000 bulk sale on 1/22/2015 spanning 16 of the declaration’s 17 small “Store” folios, ranging from 197 to 328 square feet each. That’s a retail portfolio sale, not a home sale, and it doesn’t touch any figure on this page — but it’s worth knowing this declaration includes that much dedicated commercial space if you’re evaluating the building as a whole.
Who Meridian 5 Lofts Suits, and Who It Doesn’t
Meridian 5 Lofts suits a buyer who wants South of Fifth location and a genuinely strong long-term round-trip record — every completed round trip on record shows a gain, several of them on holds under five years. It also suits a buyer comfortable with a residential component that shares its declaration with a substantial commercial footprint, rather than a purely residential building.
It suits buyers badly who need current market data or expect this year’s price to approach the building’s 2022 peak — only four sales have closed in four years, none in 2026 so far, and none has matched the $1,264-a-square-foot high set in May 2022.
If you are selling: price off the $882-$930 four-year $/sq ft band rather than the building’s 2022 peak, which sits meaningfully above anything sold since. With volume this thin, be ready to make your own case to a buyer’s agent alongside whatever comparable you can point to.
Verified 24 August 2026 against the Miami-Dade County Property Appraiser record for 421 Meridian Avenue, Miami Beach, FL 33139 — all 38 folios retrieved individually. The declaration closes at 99.9099% on the county’s common-element share test; one folio carries no recorded share and was sized from its square footage. Of the 38 folios, 20 are residential homes; 17 are small commercial “Store” folios and 1 is a reference folio, all excluded from every home-based figure. A separate $1,250,000 bulk sale (1/22/2015) spanning 16 of the 17 commercial folios was identified and confirmed as a portfolio transaction on the commercial component; it does not touch any residential figure on this page. Sale figures are otherwise qualified, arm’s-length transactions on residential folios only. Round-trip figures pair each home’s first and last qualified sale over $10,000, excluding any leg that is part of a multi-parcel/portfolio deed. Only 4 qualified sales fall inside the current four-year window, with none in 2026 to date, and no firm percentage trend is asserted from that limited data. 2026 is an incomplete year. Building age, story count, architect and amenity detail are omitted: no primary source has been confirmed for them. Re-check when the next tax roll publishes.
Meridian 5 Lofts — Frequently Asked Questions
How many homes are in Meridian 5 Lofts?
The Miami-Dade County Property Appraiser lists 38 folios for the Meridian 5 Lofts declaration at 421 Meridian Avenue, Miami Beach, FL 33139 — but only 20 of those are residential homes. The other 18 split between 17 small commercial “Store” folios and 1 reference folio.
How many homes have sold recently at Meridian 5 Lofts?
Only 4 across the last four years — two in 2023, one in 2024, one in 2025, and none so far in 2026. That is too thin to support a firm percentage trend.
What is the highest price a home has sold for at Meridian 5 Lofts?
The building’s all-time record is $1,280,000, closed May 2022, for a 1,013 sq ft home at unit 15 — $1,264 per square foot. Inside the current four-year window, the record is $875,000, closed January 2024, for unit 8 — $930 per square foot.
Why haven’t recent sales at Meridian 5 Lofts matched the 2022 record?
None of the four sales inside the current four-year window has come close to the 2022 record’s $1,264-a-square-foot rate — the highest recent rate is $930 in 2024, nearly 36% below it. With only four recent data points, whether that reflects a real cooling or simply which units happened to trade isn’t something the record can settle.
Do owners at Meridian 5 Lofts typically make or lose money?
Of the building’s 20 homes, 16 (80.0%) have a documented round trip, and every one of them gained — zero losses on record. The median change across all 16 is +78.7% over a median 9.0-year hold.
Is Meridian 5 Lofts a purely residential building?
No. The same 38-folio declaration also includes 17 small commercial “Store” folios, which had their own $1,250,000 bulk sale in January 2015 — a separate transaction from anything in this page’s residential figures.
What is not known about Meridian 5 Lofts from the county record?
Year built, story count, architect and amenity details are not part of the Property Appraiser’s record, so none of those facts appear on this page. Only what the county record itself supports is published here.
Sources and further reading
Interested in selling at Meridian 5 Lofts?
Learn more about selling your condo at Meridian 5 Lofts with Josh Stein.
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.