Miami Lofts · South of Fifth · Meridian 5 Lofts
20 homes make up Meridian 5 Lofts.
By Josh Stein · Florida license SL3057661 · Updated 12 October 2026Leer en español →
2 condos for sale at Meridian 5 Lofts, average list price $1,110.32 per sq ft (total list price ÷ total sq ft).
- Asking range$895,000 to $1,299,000
- List price per sq ft$1,110.32
- Months of inventory24.0
- Sold, 12 months1
Listing information is deemed reliable but is not guaranteed and is provided exclusively for consumers' personal, non-commercial use. Data is supplied by the MLS and may be subject to change or withdrawal without notice.
Last updated November 9, 2026, 8:49 pm
Key facts about Meridian 5 Lofts
| Address | 421 Meridian Avenue, Miami Beach FL 33139 |
|---|---|
| For sale now | 2 |
| For rent now | 1 |
| List price range | $895,000 to $1,299,000 |
| Size | 861 to 1,115 sq ft |
| Bedrooms | 1 to 2 BR |
| List price per sq ft | Average $1,110.32, low $1,039, high $1,165 |
| Monthly HOA | $733 to $948 |
| Year built | 2011 |
| Amenities | Bike Storage, Elevators, Maintenance Grounds, Management, Pool |
| Neighborhood | Miami Beach |
Residences at Meridian 5 Lofts
| Bedrooms | For sale | Size (sq ft) | List price | Avg $/sq ft | Last sale |
|---|---|---|---|---|---|
| 1 | 1 | 861 | $895,000 | $1,039.49 | |
| 2 | 1 | 1,115 | $1,299,000 | $1,165.02 | $1,090,000 (August 19, 2026) |
Recently sold in
2 listings
Verified 23 September 2026Miami-Dade County Property Appraiser1 source
Building facts
- Address
- 421 Meridian Avenue
- Neighborhood
- Miami Beach
- Year built
- 1940
- Floors
- 4
- Residences
- 20
- Status
- Delivered — loft conversion of a 1940 building
Key Takeaways
- Meridian 5 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 28 October 2025. Own at Meridian 5 Lofts? Ask Josh what yours would sell for on WhatsApp.
- 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 the 20 homes are barely half of the 38 folios in the building’s own record.
- Only 4 qualified sales closed here across the last four years, — two in 2023, one each in 2024 and 2025, and none 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 measured from first recorded sale to latest, every one gained: a median gain of 78.7% over a median 9.0-year hold. Resale by resale, 1 of the 24 resale pairs closed below the prior price.
- 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.
Meridian 5 Lofts, by the numbers
Source: the building record on this site.
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.
The county record gives 2011 as the year built for 16 of the 20 homes; the other 4 are recorded as 1940. The four stories come from the building record on this site, and I have no architect or amenity list, so none is published here.
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: two in 2023 ($882 a square foot, median), one in 2024 ($930) and one in 2025 ($914). That is too thin to support a trend, so I am not drawing one. 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.
Did Round Trips at Meridian 5 Lofts Make 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. Measured from each home’s first recorded sale to its latest, all 16 gained. 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%. Resale by resale, 1 of the 24 resale pairs closed below the prior price: one home sold for $340,000 in March 2015 and $322,500 in March 2020.
Nearly every one of these round trips starts at the same point: the building’s original sales between October 2011 and June 2012, mostly $384,000 to $565,000, paired with a later sale between 2013 and 2025. 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 3.6-year hold. With only 16 completed round trips, I wouldn’t call this pattern guaranteed to continue, but every one of them on record is positive from first sale to latest.
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 from first sale to latest, 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.
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, about 26% 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 measured from first recorded sale to latest, every one of them gained. The median change across all 16 is +78.7% over a median 9.0-year hold. Resale by resale, 1 of 24 pairs closed below the prior price.
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?
The county record gives the year built (2011 for 16 of the 20 homes, 1940 for the other 4) but not the story count, architect or amenity details. The four stories come from the building record on this site, and no architect or amenity list is published here.
Own at Meridian 5 Lofts?
If you own here, this page already carries the county’s record of what homes in Meridian 5 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 Meridian 5 Lofts, what they sold for per square foot, and a straight read on what yours could sell for today.
Two free things for owners
Prefer email? hello@joshsteinrealtor.com
Josh Stein, Florida real estate sales associate, license SL3057661.Sources and further reading
Interested in selling at Meridian 5 Lofts?
Learn more about selling your condo at Meridian 5 Lofts with Josh Stein.
Thinking about Meridian 5 Lofts?
I have sold South Florida property since 2002. 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 recordFrequently 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.