Building facts
- Address
- 125 Ocean Drive
- Neighborhood
- South of Fifth
- Year built
- 2011
- Floors
- 7
- Residences
- 28
- Status
- Completed
- Developer
- Matrix
- Architect
- Nichols Brosch Sandoval and Associates
- Pricing
- Starting at
Key Takeaways
- The highest price per square foot I have recorded anywhere on Miami Beach — $24,000,000 on 5 March 2025 for a 3,936 sq ft home — $6,098 per square foot. Across the 144 buildings I have pulled from the county record, only one sale anywhere in Miami-Dade exceeds it.
- This is the widest range of homes in any building I measure — from 372 sq ft to 5,881 sq ft — a factor of nearly sixteen — and the county assesses them from $578,054 to $17,207,218, a factor of 29.8. There is no other building in the index with a spread like it.
- Eighteen of the 30 homes are four-bedrooms — and nine are one-bedrooms. It is really two buildings sharing an address: a small group of very large homes and a group of very small ones.
- Four qualified sales in four years, and none at all in 2023 or 2024 — about one home in 30 a year. No four-year change is published because two of the four years are empty.
- The owners have done exceptionally well — of the 27 resales on record, three lost money — 11.1% — at a median gain of 58.3% over a 5.2-year hold. Of the 2012 sell-out buyers who have resold, not one lost money, at a median gain of 88.9%.
- The 2026 sale was $11,928,500 — for a 3,463 sq ft home — $3,445 per square foot, and the only transaction the building has recorded this year.
125 Ocean Drive, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
What is actually in the building
The county returns 31 folios for 125 Ocean Drive. 30 are homes; the remaining one is a 361 sq ft commercial store unit, excluded from everything below.
Those 30 homes cover a range I have not seen anywhere else. They run from 372 sq ft to 5,881 sq ft — a factor of nearly sixteen — with a median of 3,256. The bedroom mix explains it: 18 four-bedrooms with a median of 3,936 sq ft and nine one-bedrooms with a median of 1,334, one two-bedroom, and two homes of 372 and 732 sq ft that the county records with no bedroom count.
The 2026 assessments follow the same shape. The county assesses these homes between $578,054 and $17,207,218, median $7,640,714 — a range of 29.8 times, which is the widest in my Miami Condo Index by a distance.
Why the building average tells you nothing here
On most pages in this series I argue that a building-wide price per square foot is a rough guide that needs adjusting for size. At Ocean House it is not a guide at all, and it should not be used.
The reason is structural rather than statistical. This address contains eighteen four-bedroom homes averaging well over 3,000 sq ft, and nine one-bedrooms with a median of 1,334 sq ft, along with two homes of 372 and 732 sq ft that the county records with no bedroom count. Those are not two ends of one market; they are two different products that happen to share a lobby. The county’s own assessments make the point: the cheapest home is valued at $578,054 and the dearest at $17,207,218.
The four sales of the last four years show the same split with unusual clarity:
| Date | Size | Price | $/sq ft |
|---|---|---|---|
| 7 January 2025 | 1,370 sq ft | $2,075,000 | $1,515 |
| 5 March 2025 | 3,936 sq ft | $24,000,000 | $6,098 |
| 18 August 2025 | 1,296 sq ft | $2,090,000 | $1,613 |
| 10 June 2026 | 3,463 sq ft | $11,928,500 | $3,445 |
The small homes cleared $1,515 and $1,613 per square foot. The large homes cleared $6,098 and $3,445. A median of those four is $2,529, and there is no home in this building for which $2,529 is a sensible number. Anyone quoting a per-foot figure for “Ocean House” is averaging two markets.
The March 2025 sale deserves its own sentence. $24,000,000 for 3,936 sq ft is $6,098 per square foot — the highest price per square foot I have recorded in any building on Miami Beach, and across the 144 buildings I have pulled folio by folio from the county record, only one sale anywhere in Miami-Dade County exceeds it. It is a genuine, qualified, arm’s-length transaction, and it is also a single transaction. Treat it as the ceiling of what this address can do, not as evidence about the next sale.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | No qualified sales | ||
| 2024 | No qualified sales | ||
| 2025 | 3 | $2,090,000 | $1,613 |
| 2026 to date | 1 | $11,928,500 | $3,445 |
Two of the four years recorded no qualified sales at all. No four-year change is published for this building and it carries a dash in my Miami Condo Index — there is no 2023 base to compare anything against.
Across the four sales the building cleared a median $2,529 per square foot, in a band from $1,515 to $6,098, at a median price of $7,009,250. As the previous section argues, that median is arithmetic rather than information.
Turnover is thin: one home in 30 a year, against a median of one in 24 across the buildings in my Miami Condo Index. In a 30-home building that is one sale a year, and 2023 and 2024 had none.
The ownership record, by contrast, is one of the strongest I have measured. The building sold through in 2012, when 15 homes — half the building — changed hands at a median $4,786,000, or $1,470 per square foot. Of those buyers, eight have since resold and not one lost money, at a median gain of 88.9%. Across all 27 resales the county records here, three lost money — 11.1% — at a median gain of 58.3% over a 5.2-year hold. The median loss among the three was 8.9% and the worst 23.9%.
A median gain of 58.3% across a whole resale history is the second-highest figure in my index. Combined with a loss rate of 11.1%, this is a building whose owners have done well and whose few losers were not badly hurt.
Who this building suits, and who it does not
It suits a buyer at the very top of the South of Fifth market who wants a large home in a building of thirty rather than a tower of three hundred. Eighteen four-bedrooms, an ownership record with an 11.1% loss rate, and a per-foot ceiling that no other Miami Beach building has approached.
It suits, quite separately, a buyer looking at the small homes. Nine one-bedrooms exist here and the two that traded in 2025 cleared $1,515 and $1,613 per square foot — a fraction of what the large homes command, in the same building at the same address.
It suits badly anyone who needs recent comparables. Four sales in four years, two of the years empty, and the two ends of the building are not comparable to each other.
It suits badly a buyer who wants to value from a spreadsheet. There is no meaningful building-wide number here, and any automated valuation applied to this address will be wrong by a wide margin in one direction or the other.
If you are selling here, everything turns on which half of the building you are in. If you own one of the large homes, your comparables are the March 2025 sale at $6,098 per square foot and the June 2026 sale at $3,445 — two transactions, far apart, and you should be honest with yourself about which one your home resembles. If you own one of the small homes, your comparables are the two 2025 sales at $1,515 and $1,613, and the large-home prices are not evidence for you in any direction. In both cases the strongest general argument you have is the ownership record: 27 resales, three losses, a median gain of 58.3%.
Verified 18 August 2026 against the Miami-Dade County Property Appraiser record for 125 Ocean Dr — all 31 folios retrieved individually, grouped by subdivision and filtered to residential homes, excluding one commercial store unit along with parking, cabana and storage. Two homes carry no bedroom count in the county record and are reported as such. Sale figures are qualified, arm’s-length transactions only, with bulk/portfolio transfers collapsed to a single transaction. 2023 and 2024 record no qualified sales at this address, so no four-year change is published. Comparisons of price per square foot are against the 144 buildings I have pulled folio by folio from this same source, not against the whole market. Assessed values are the county’s, not market valuations. Building age, storey count, architect and amenity detail are omitted: no primary source has been confirmed for them. Re-check when the next tax roll publishes.
Ocean House South Beach — Frequently Asked Questions
What is the highest price ever paid at Ocean House?
$24,000,000, on 5 March 2025, for a 3,936 sq ft home — $6,098 per square foot. That is the highest price per square foot I have recorded in any building on Miami Beach, and across the 144 buildings I have pulled from the county record only one sale anywhere in Miami-Dade exceeds it.
How much does a home at Ocean House sell for?
It depends entirely on which half of the building you mean. The two small homes that sold in 2025 cleared $1,515 and $1,613 per square foot; the two large homes cleared $6,098 in March 2025 and $3,445 in June 2026. The four-sale median of $2,529 per square foot describes no home in the building.
How big are the homes at Ocean House?
From 372 sq ft to 5,881 sq ft, median 3,256 — a factor of nearly sixteen, which is the widest range in my Miami Condo Index. Eighteen of the 30 homes are four-bedrooms and nine are one-bedrooms, with one two-bedroom and two homes the county records with no bedroom count.
Have prices at Ocean House gone up or down?
The record cannot say. There were no qualified sales at all in 2023 or 2024, so there is no base to compare against, and the building carries a dash in my Miami Condo Index.
Have owners at Ocean House made money?
Emphatically. Of the 27 resales the county records, three lost money — 11.1% — at a median gain of 58.3% over a 5.2-year hold, which is the second-highest median gain in my index. Of the 2012 sell-out buyers, eight have resold and not one lost money, at a median gain of 88.9%.
How often do homes at Ocean House change hands?
Rarely. The county records four qualified sales in the four years to August 2026 against 30 homes — about one home in 30 a year, against a median of one in 24 across the buildings in my Miami Condo Index. Two of those four years recorded nothing at all.
Why should I not use a building average for Ocean House?
Because the building contains two different products. Eighteen four-bedrooms averaging well over 3,000 sq ft sit alongside nine one-bedrooms, some under 400 sq ft, and the county assesses them from $578,054 to $17,207,218 — a range of 29.8 times. Any single per-foot figure for this address is an average of two markets and will be badly wrong for either.
Sources and further reading
Interested in selling at Ocean House?
Learn more about selling your condo at Ocean House with Josh Stein.
Related coverage
Part of Miami Luxury Condos.