Capri South Beach

What is actually in the building

The county returns 67 folios across the three addresses that make up this condominium. 65 are homes. The other two are ground-floor stores, classified commercial, and no figure on this page treats them as residences.

The homes run from 783 sq ft to 2,970 sq ft, median 1,842 — a spread of 279.3% from smallest to largest, which is wide for a building of this size and is the single most important thing to understand before you read any price here. The mix is 31 two-bedrooms, 20 three-bedrooms, 13 one-bedrooms and one five-bedroom. Six floorplans carry most of it: 12 homes at 1,919 sq ft, nine each at 783 and 1,396, seven each at 1,128 and 1,842, and five at 1,974.

Four of the 65 homes are combined residences — units 801 and 802, 901 and 902, 604 and 605, and 704 and 705, each pair merged onto a single folio that carries two undivided interests in the common elements. Two of them are 2,970 sq ft, the largest floorplate here, and the building’s only five-bedroom is one of them. They are genuine homes and they are counted as such throughout this page.

For 2026 the county assesses the homes between $364,629 and $5,716,053, median $1,403,515 — a 15.7-fold spread, which follows directly from that size range rather than from anything mysterious.

One housekeeping note, because a buyer deserves to know when a public record is odd rather than to find out later. Of the two commercial folios, the county assesses one at $1,197,600 and the other at $1,713. The second figure has stood for three consecutive tax rolls and is plainly an artifact rather than a valuation. Both are excluded here regardless, along with a $30,790,000 transfer in May 2010 recorded against both of them at once — a portfolio deed, not a sale any home achieved.

Why are there three of everything at Capri?

This is the most useful thing I can tell you about this building, and it is on no listing sheet anywhere.

Capri is a single condominium occupying three separate street addresses, on two different streets. The county files 55 folios under 1445 16th Street, six under 1470 16th Street, and six more under 1491 Lincoln Terrace — all one subdivision, with units lettered by building. Building B holds 54 homes, Building C holds five (all the same 1,974 sq ft plan), and Building A holds six, the smallest stock here at 831 to 1,889 sq ft.

The practical consequence is a trap, and it is worse than it looks. Search the county for 1470 16th Street and you get six folios — five homes and a store, about a tenth of the condominium. Search 1491 Lincoln Terrace and you get six more. Each result looks complete and internally consistent, because each is: it is simply a fraction of the building. Any valuation, any turnover figure, any “average price at Capri” built from one address is wrong, and it will not look wrong.

There is a way to check, and it is the reason I am confident this page has the whole building. Every condominium unit owns a stated percentage of the common elements, and those percentages must sum to 100%. Across these 67 folios they sum to exactly 100.0000%. Nothing is missing.

Seven unit numbers exist more than once here. Two homes numbered 101, two numbered 102, two numbered 201, two each numbered 301, 401 and 501 — and three separate penthouses all called PH-1, one in each building, of 1,820, 1,974 and 2,970 sq ft.

Two of those three PH-1s sold in 2025, 79 days apart.

PH-1 in Building B is 2,970 sq ft and sold on 4 March 2025 for $5,025,000 — $1,692 per square foot. PH-1 in Building C is 1,974 sq ft and sold on 22 May 2025 for $3,900,000 — $1,976 per square foot. The cheaper home cost 16.8% more per square foot. PH-1 in Building A has not traded since October 2009, when it went for $1,100,000. If someone tells you what “PH-1 at Capri” is worth, the only correct response is to ask which one.

Their longer histories diverge just as sharply, and this is where the building gets genuinely interesting.

The Building B penthouse has sold four times — $5,600,000 in December 2012, $4,500,000 in July 2015, $5,500,000 in May 2017, and $5,025,000 in March 2025. That is a 10.3% decline in nominal dollars over twelve years, through a period in which most of Miami Beach rose substantially. The Building C penthouse has sold twice — $2,379,000 in March 2009 and $3,900,000 in May 2025, up 63.9% over sixteen years.

Same condominium, same unit number, opposite outcomes. I would rather show you that than average the two into a number that describes neither.

The county assesses the three buildings differently too, and consistently. Per square foot, the 2026 medians are $767 in Building A, $829 in Building B and $988 in Building C — the top building assessed 28.8% above the bottom one on the county’s own numbers.

The price record

No four-year change is published for this building, and it carries a dash in my Miami Condo Index. Not because the sample is unusably thin, but because the final year is empty: the most recent qualified sale here was 26 December 2025, and you cannot measure a change against a year with nothing in it.

The 2024 line is a warning about small samples rather than a finding. Four sales set that median, and two of them were unusually strong — a penthouse at $1,980 per square foot and a 1,842 sq ft home at $1,545. Read across 2023 and 2025, the two years with real depth, and the building sits at $1,106 and $1,136 per square foot — 2.7% apart. My honest reading is that Capri has been broadly flat over the measured period, and that the 2024 spike is composition, not appreciation.

Across all 17 sales in the four-year window the building cleared a median $1,146 per square foot, in a band from $906 to $1,980, at a median price of $1,950,000. That band is the number to hold on to. A building whose homes range from 783 to 2,970 sq ft cannot be described by a single price, and the top of that band is more than double the bottom.

Size is most of the explanation. On sales since 2021, one-bedrooms cleared a median $766 per square foot, two-bedrooms $1,039, and three-bedrooms $1,412. The three-bedrooms clear 84.3% more per foot than the one-bedrooms — not merely more in total, but more per unit of space, which is the opposite of how most buildings price and is worth understanding before you assume the small units are the value.

The record price is $5,900,000, paid on 28 September 2022 for a 2,970 sq ft home at $1,987 per square foot.

The longer record is deep by the standards of a 65-home building: 132 qualified sales since 2008, including 25 in 2012 alone — 38.5% of the condominium changing hands in a single year. Of the 68 resales the county records, 17 lost money, or 25.0%, at a median gain of 17.9% over a 6.8-year hold. That is a middling result among the buildings I measure — better than the buildings where a third or more of resellers are underwater, well short of the beachfront towers where nobody has lost.

One home shows the whole cycle on its own. Unit 202 in Building A, 831 sq ft, has sold four times: $675,000 in December 2008, $425,000 in June 2020 — down 37.0% — then $919,000 in February 2023 and $995,000 in December 2025, up 134.1% from that 2020 low. Same home, same 831 sq ft, four prices.

Who this building suits, and who it does not

It suits a buyer who wants to be able to get out. Seventeen sales in four years against 65 homes is about one home in 15 a year, and of the 83 buildings in my Miami Condo Index only four trade faster. In a market where the median building turns over one home in 24, that liquidity is a real and underrated asset — it means comparables exist, lenders can appraise, and an exit does not require a year of patience.

It suits a buyer who has decided which of the three buildings they actually want. They are not interchangeable: different floorplans, different sizes, and assessed values per square foot running from $767 to $988. Establish which address and which building letter you are buying into before you argue about price.

It suits badly a buyer who wants a simple answer. Nothing here averages cleanly — not the size range, not the three addresses, not seven repeated unit numbers, and not a penthouse worth less than it was twelve years ago while its namesake in the next building is up 63.9%.

It suits badly anyone who needs 2026 evidence. There is none. The last sale was in December 2025 and the record simply stops there.

If you are selling here, two things matter. First, make the comparison honest: insist that any comparable is matched on building letter and floorplan, because a 1,974 sq ft home in Building C and a 1,919 sq ft home in Building B are not the same asset, and the county’s own assessments say so by 19.2% per square foot. Second, use the liquidity. This condominium trades more often than almost anything else I measure, which means a buyer’s agent can find recent evidence quickly — and the 2023 and 2025 medians of $1,106 and $1,136 per square foot are the honest anchor. The $1,424 figure from 2024 rests on four sales and I would not build a price on it.

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