The Metropolitan

What is actually inside the building

The Miami-Dade County Property Appraiser holds 199 folios for The Metropolitan at 2475 Brickell Avenue, of which 198 are homes. The remaining folio is a ground-floor store. There is no parking, cabana or storage series, which makes the count unusually clean.

The homes run 770 to 2,065 square feet, with a median of 1,010, and the mix is almost exactly even: 99 one-bedrooms and 98 two-bedrooms, with a single three-bedroom. Six floorplates cover 140 of the 198 homes — 850 square feet (40 homes), and then 770, 900, 1,120, 1,190 and 1,280 at twenty homes each. This is a highly repetitive building, which normally makes pricing easy. Here it does not, for reasons the next section covers.

The 2026 assessed values run $144,441 to $654,300, with a median of $384,898.

Two things about the county’s own record are worth stating plainly, because I had to resolve both before I would publish anything else on this page.

The first is that the declaration’s common-element shares do not sum to 100% — they sum to 98.87%, and the shortfall is not a missing home. It is two separate defects in the roll. One folio, recorded as unit 2709 at 2,065 square feet, is plainly two apartments knocked together: it is double the building’s typical size and unit 2710 appears nowhere in the record, yet the folio carries only one apartment’s share. The county kept one share for two homes’ worth of property.

The second is stranger. The county holds no record for unit 1704 at all. The building runs floors 7 to 27 with no 13th, and lines 1 to 10; every floor has a line-4 home of 1,140 square feet except the seventeenth. The folio number that home would carry sits in the middle of an otherwise unbroken series, and querying it returns a completely empty record — no legal description, no address, not even a pointer saying it was merged into another folio. I am reporting 198 homes because that is how many the county has records for. The building itself almost certainly has 199.

The price record

Qualified, arm’s-length sales from the county record, retrieved 22 August 2026.

The county records no qualified sale at this building in 2026. None. The last one is 8 August 2025. Before that, one sale in the whole of 2025. That is the single most important fact on this page and I would rather lead with it than bury it under a trend line.

Twelve qualified sales in four years, across 198 homes, is about one home in sixty-six each year. I have measured 185 buildings with fifty or more homes and at least one sale in the four-year window. This is the least liquid of all of them — slower than Porto Vita’s north tower at one in sixty-two and Azure at one in fifty-eight. In Brickell and Brickell Key specifically, across 42 buildings, nothing else is close: the next is Cassa Brickell at one home in forty-six.

So I am not going to publish a price trend for this building, and no honest reading of this record supports one. Twelve sales spread across four years, in a building with six main floorplates and a two-and-a-half-fold size range, cannot distinguish a rising market from a year in which the larger apartments happened to sell. The median price column reads $425,000, $772,500, $575,000 — an 82% jump and then a 26% fall — on seven, four and one transactions. Per square foot the same years read $500, $609, $491. Neither column means what it appears to mean.

What the record will support is a band: $471 to $680 per square foot across 2023 to 2026, with a median of $556. The highest price in that window is $785,000 — unit 2402, 1,280 square feet, 16 October 2023, at $613 per square foot. The highest price the building has ever recorded is $960,000, in March 2006, for the combined 2,065 square foot residence described above.

Why does almost nobody sell here?

I cannot tell you why. The county record shows transactions, not reasons, and I am not going to invent a motive for 198 households. What I can do is show you what the record makes visible, which is unusually clear here because this building has the cleanest starting line I have come across.

All 198 homes recorded their first qualified sale in 2001, at a median of $250,000 and $228 per square foot. Not most of them — all of them, in a single year. There is no second cohort, no crash-era re-sell-out, no bulk transfer to unwind. Every owner in this building traces back to the same starting point.

From that starting line:

• One hundred and seventy-two of the 198 homes have completed a full round trip. One hundred and seventy gained and two lost. The median outcome is +50.0% over a median holding period of 12.7 years.
• Of the 38 owners who sold in 2021 or later, not one lost money, at a median of +107.0%.
• The two losses are both small and both old: a 900 square foot home bought for $208,000 in May 2001 and sold for $170,000 in February 2012, down 18.3%; and an 850 square foot home down 4.3% over six years to 2008.
• The best result is up 189.6% — a 1,170 square foot home bought for $259,000 in May 2001 and sold for $750,000 in March 2024, over 22.8 years.

Twenty-six homes have never resold at all — the same owners, or their estates, for twenty-five years.

Here is the tension I would want a buyer to sit with. A 1.2% loss rate across 172 completed round trips is among the strongest ownership records in anything I have measured. And it sits inside the least liquid building I have measured. Those two facts are not in conflict; they may well be the same fact seen twice. A building where almost nobody sells produces very few forced sales, and forced sales are where losses come from. A record with twelve transactions in four years has simply not been tested the way a building with two hundred has.

And the honest limitation: a median hold of 12.7 years from a 2001 entry at $228 per square foot into a market now near $556 does most of the arithmetic on its own. These are gross figures, before twenty-odd years of commissions, taxes, assessments and carrying costs, which are not a rounding error over that span. Nobody who bought here recently has a record long enough to tell you anything — because almost nobody has bought here recently.

Who this building suits, and who it suits badly

It suits a buyer who intends to stay. That is not a soft recommendation, it is what the record describes: an owner base that arrived in 2001 and largely has not moved, a 1.2% loss rate over 172 resales, and no losses at all among those who sold in the last five years. If you want a well-sized one or two-bedroom on Brickell Avenue at a median assessed value under $385,000, and your horizon is measured in decades, very little here argues against you.

It suits an investor badly, and I would say so bluntly. One home in sixty-six trading each year is the lowest turnover I have on record anywhere. In 2025 a single home sold. In 2026 so far, none has. If you need a reliable exit, this building does not offer one — not because it is unwanted, but because there is almost no market in it in either direction.

It suits an impatient buyer badly too, for the same reason in reverse. Twelve sales in four years means that in a typical year three homes come available across 198. If you want the 1,280 square foot plan specifically, that is twenty homes, and you may wait years for one.

And if you are selling here: understand what your comparable set actually is. There is no 2026 sale at this building and only one in 2025. An appraiser or a buyer’s agent will therefore be reaching back to 2024 and 2023, and the four-year band is $471 to $680 per square foot with a median of $556. Expect to be asked why nothing has traded, and expect the answer to matter more than it would anywhere else — the thinness of the record cuts against whoever is trying to justify a price, and in most negotiations that is the seller.

Interested in selling at The Metropolitan?

Learn more about selling your condo at The Metropolitan Brickell with Josh Stein.

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