Four Seasons Residences

What Is Actually at 1425 Brickell, and Why the Address Matters

Start with the thing that trips people up, because it tripped up my own first pull of this building. The Four Seasons tower carries two addresses and two entirely separate condominium declarations, and only one of them is residential.

Query the county for 1435 Brickell Avenue and you get 86 folios, every single one coded hotel or motel — the hotel itself and the condo-hotel units. Not one residential dwelling. Query 1425 Brickell Avenue and you get the condominium: Millennium Tower Residences Condo, 176 folios, all 176 residential homes, and the declaration’s undivided common-element shares close complete. Everything below describes those 176 and nothing else.

That matters commercially, not just clerically. A buyer told they are purchasing at “the Four Seasons” can be buying into either declaration, and they are not the same asset: one is a home in a residential condominium, the other is a hotel-coded unit in a hotel condominium, with different lending treatment, different rules and a different resale market. Ask which declaration and which address before you ask anything else.

The count reconciles too, nearly. The building is documented as holding 186 condominiums on its upper floors. The county carries 176 folios today, and seven of those folios each cover two or three original units — units 55C & 55D, 63C & 63D, 54D & 54E & 54F, 65 D & E, PH2E & PH2F, 50F & 50A and one more — which accounts for at least seven of the ten missing. The remaining difference I cannot explain from the record, so I am leaving it stated rather than smoothed over.

Homes run 1,114 to 8,185 square feet, median 2,139. Twenty-nine of the 176 share that 2,139 sq ft plan, twenty share the 1,114 plan and nineteen the 3,357 — three plans covering 68 homes, which makes same-size comparables easy at those sizes and hard everywhere else. The bed mix runs 21 one-bedrooms, 92 two-bedrooms, 38 three-bedrooms and 21 four-bedrooms, with four larger combined homes carrying five, six, eight and nine bedrooms apiece.

On the 2026 tax roll, assessed values run $673,435 to $7,140,580, median $1,931,550.

The Price Record, and the Number I Will Not Give You

Every column in that table goes up, and I still will not tell you this building is up 36%.

Here is why. 2025 rests on seven sales and 2026 on four. At those volumes a single trade owns the median. Take one example from the table itself: one of 2025’s seven sales was a 8,185 sq ft combined residence at $1,100 per square foot. Remove that single deed and 2025’s median $/sq ft moves from $1,156 to $1,335 — a 15.5% swing in the year’s headline number, caused by one transaction. I am showing you the figure with it in, because the sale is real and belongs in the record, but a reader should know how little weight the last two rows can carry.

So: the direction is probably real — four years, both measures, no year down. The magnitude is not something this record can establish, and any page that quotes you a precise four-year percentage here is quoting arithmetic, not evidence.

Across the four years, 33 qualified sales produced a median of $2,450,000 and a median of $1,156 per square foot, in a band running $868 to $3,262 — a spread of nearly four to one, which is what a building holding both 1,114 sq ft homes and whole-floor penthouses looks like. 33 sales against 176 homes is one home in 21 each year. 2026 is an incomplete year.

The longer record carries a harder number. 225 homes here have a completed round trip, and 57 of them — 25.3% — resold for less than the previous owner paid, against a median gain of 18.2% over a median 6.2-year hold. As at most buildings of this vintage, the calendar explains much of it: 114 of the 398 qualified sales on the county’s full file closed between 2003 and 2006 as the tower delivered — 90 of them in 2004 and 2005 alone — and the market those buyers walked into arrived three years later.

Why Is the Building’s Record Sale Missing From Every Price Statistic?

Because the county records it against four folios at once, and every standard method throws that away.

On 19 May 2025, a single deed conveyed PH2A, PH2B, PH2C and PH2D — an entire penthouse floor — for $14,800,000. The county flags it “qualified on DOS, multi-parcel sale”, and it lands on each of the four folios at the full $14.8 million. Any tool that reads those rows naively publishes a $14,800,000 sale of a 1,114 sq ft apartment — $13,285 per square foot, a number no home in Miami has ever achieved. So the standard treatment drops multi-parcel sales entirely, which is correct for medians and quietly deletes the building’s record sale.

Measured properly, against the four folios’ combined 6,671 square feet, that sale is $2,219 per square foot — high in this building’s $868–$3,262 band, exactly where you would expect a top-floor assembly to sit, and plainly a real home purchase rather than a portfolio.

It is not alone. On 16 March 2022, another whole-floor deed took PH4B, PH4C and PH4D for $11,000,000 — 5,798 square feet, $1,897 per square foot. Neither transaction appears in the table above. Neither appears in the four-year band. Both are among the largest residential trades this building has ever recorded.

⚠️ One consequence worth stating plainly. The May 2025 sale has been widely reported at roughly $1,990 per square foot, which implies an area of about 7,437 square feet. The county’s four folios total 6,671. I am not calling either figure wrong — reported areas frequently include terrace or enclosed space the tax roll does not — but the two are measuring different things, and if you are pricing a penthouse here off that per-foot number you should know which area it is divided by.

The highest price recorded against a single folio is $7,198,200 on 28 January 2022, for unit PH1F at 3,501 square feet — $2,056 per square foot.

Who This Building Suits, and Who It Suits Badly

It suits a buyer who wants a large home on Brickell with a genuinely deep record behind it. Nearly four hundred qualified sales sit on this building’s file going back to 2003, which means almost any question you have about it — what a floorplate does over a decade, what the losses looked like, what the top of the market pays — is answerable from the county’s own record rather than from a broker’s assurance. At three plans covering 68 of the 176 homes, comparables exist at the common sizes.

It suits badly a buyer who needs a confident read on where prices are going right now. Seven sales in 2025 and four so far in 2026 is not enough to size a move, and I would rather tell you that than hand you a percentage. It also suits badly anyone who wants a simple answer to “what is a foot worth here” — the four-year band runs $868 to $3,262, and which end you are at depends almost entirely on how high you are and how much of the floor you own.

And it suits badly a buyer who has not established which declaration they are buying into. That is not a theoretical risk at this address; the hotel-coded folios and the residential ones sit in the same tower under two different filings.

If you are selling here, price off your own plan and floor band, not the building median — the median is averaging a 1,114 sq ft home against a whole-floor penthouse. If you own on a penthouse level, the two whole-floor deeds above are your comparables and they are not in any statistic a buyer’s agent will pull by default; bring them yourself, with the combined square footage attached, or they will be argued down against a median built from 2,139 sq ft homes.

Interested in selling at Four Seasons Residences?

Learn more about selling your condo at Four Seasons Residences with Josh Stein.

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