Icon Brickell

What is actually here — three condominiums, four addresses

Icon Brickell is sold, listed and described as one building. The county record holds it as three separate condominiums, filed under three separate declarations, across four street addresses. They have separate common elements, separate ownership structures, and — as the record below shows — separate price histories that have diverged sharply.

One thousand seven hundred and ninety-two homes. The first declaration is the one that catches people out: 465 and 475 Brickell Avenue are a single condominium filed at two addresses. Taken alone, 465 accounts for 52.9088% of the common elements and 475 for 47.0912% — neither is a whole building, and together they close at exactly 100.0000%. Anyone checking one address in isolation would conclude that half the declaration was missing.

For scale: the largest single condominium I have measured anywhere in Miami-Dade holds 945 homes. These three declarations together hold nearly twice that. But they are three buildings for every purpose that matters to an owner, and the rest of this page treats them that way.

They are also composed very differently, which is the key to everything that follows:

485 Brickell Avenue is the small-apartment building — 180 studios, a median home of 842 square feet, and exactly one home with three bedrooms or more. 495 is the large-home building, with a median of 1,327 square feet and 68 homes of three bedrooms or more. 465 and 475 sit between them. A buyer who says “I want to be in Icon Brickell” has not yet said anything useful.

One disclosure on the 485 declaration: six of its folios are classed by the county as hotel or motel condominium units rather than residences, along with a store and an aggregate reference folio. Those eight are excluded from the 520-home count and from every figure on this page.

The price record, declaration by declaration

Qualified, arm’s-length sales from the county record, retrieved 22 August 2026. Across all three declarations:

That combined table is the one most people would publish, and it hides the only thing worth knowing — that the three buildings have gone in three different directions. Median price per square foot, separately:

For three years the 485 tower carried the highest price per square foot of the three — and it has fallen furthest and fastest. In 2023 and 2024 it traded at $840 and $861, roughly $100 a foot above 465 and 475 and nearly $150 above 495. In 2026 it is at $700, which is within three dollars of the other two. Three buildings that priced distinctly for years are now, on the most recent sales, converging.

I would be careful with the 2026 line. Three sales at 485, eight at 465 and 475, eleven at 495 — those are small samples and I would call the convergence a direction rather than a settled fact. The 2023-to-2025 movement is better supported: 96 sales at 485 across those three years is enough to say the decline there is real.

What the combined record does support firmly is liquidity. Two hundred and eighty-two qualified sales in four years across 1,792 homes is about one home in twenty-five each year, and it is spread evenly — one in twenty-nine at 465 and 475, one in twenty-three at 495, one in twenty-four at 485. Something is always for sale here, and you can always sell.

The four-year band across all three runs roughly $302 to $1,349 per square foot, and the highest price in the record is $3,550,000 — unit 5701 at 495 Brickell Avenue, 2,632 square feet, 13 January 2025, at $1,349 per square foot. That is the only sale here above $2,650,000 and it is 34% clear of the next.

What happened here in 2010 and 2011?

The county records 661 qualified sales at Icon Brickell in 2010 and 604 in 2011. That is 1,265 homes — roughly 71% of the complex — changing hands in twenty-four months. In the fourteen years since, the busiest year has been 317.

The prices in that wave were not uniform, and the differences have shaped everything since:

• 485 (No 3): 319 homes recorded a first sale in 2010 at a median of $293,000 and $325 per square foot, with 52 more in 2011.
• 465 and 475 (No 1): 86 in 2009 at $534,530 and $526 per square foot, then 214 in 2010 at $438,480 and $429, then 211 in 2011 at $379,600 and $458.
• 495 (No Two): 82 in 2010 at $523,565 and $411 per square foot, then 283 in 2011 at $545,300 and $418.

The consequences are still visible, and they are stark:

At 485 Brickell Avenue, 299 homes have been bought and sold on the arm’s-length record and two of them lost money. Of the 172 owners who exited in 2021 or later, not one did, and their median outcome is +128.8%. That is the direct legacy of a 2010 entry at $325 per square foot — the lowest of the three by a wide margin — in a tower that then traded up to $861.

The 465 and 475 declaration is the mirror image: its buyers entered highest, at $429 to $526 per square foot, and 18.1% of its 414 completed round trips lost money, with the worst down 54.3%.

Two cautions before anyone reads that as a recommendation. The first is that these are gross figures over a median hold of about ten years, before a decade of commissions, taxes, assessments and carrying costs, which at a building of this size and specification are substantial. The second is more important: the 485 record measures a 2010 entry price, not the building. Nobody buying at 485 today is buying at $325 a foot, and the tower that produced those returns is also the one that has fallen 16.7% in four years.

The county record shows transactions and not reasons. It says 1,265 homes changed hands in two years at those prices; it does not say why, and I am not going to guess.

Who this building suits, and who it suits badly

First, decide which building. That is the practical takeaway from this entire page. If you want a studio or a small one-bedroom, that is 485 Brickell Avenue, where 180 of the 520 homes are studios. If you want three bedrooms or real space, that is 495, where the median home is 1,327 square feet and 68 homes have three bedrooms or more — against exactly one at 485. A listing that says “Icon Brickell” without the street number is not telling you which of three markets you are in.

It suits a buyer who needs liquidity better than almost anything else on Brickell Avenue. Two hundred and eighty-two sales in four years, spread evenly across all three declarations, means both a real choice when buying and a real exit when selling. For a buyer who cannot rule out moving in three or four years, that matters more than a point or two of price.

It suits a buyer expecting the last decade to repeat badly. The returns in the record here belong to people who bought in 2010 and 2011 at $325 to $458 per square foot. Today’s entry is roughly $700. All three declarations are down over four years, and the one with the best historical record is down the most.

It suits a large-family buyer badly at two of the three addresses. Fifty-three homes at 465 and 475 and one at 485 have three bedrooms or more. Essentially all the family-sized stock in a 1,792-home complex sits in one tower.

And if you are selling here: know which comparables apply to you. The three declarations have traded up to $170 per square foot apart, and a buyer’s agent quoting “Icon Brickell sold at $683 a foot” may be quoting a different building from yours. If you are at 485, the 2026 record is thin — three sales — and the trend behind it is down 16.7% over four years; price against that rather than against the 2024 peak of $861, because that is the number the other side will bring.

Interested in selling in Icon Brickell?

Learn more about selling your condo in Icon Brickell with Josh Stein.

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