Building facts
- Address
- 304 Ocean Drive
- Neighborhood
- South Beach
- Year built
- 2024
- Floors
- 4
- Residences
- 10
- Status
- Completed
- Developer
- Multiplan REAM
- Architect
- Revuelta Architecture
- Pricing
- Starting at $3.2 Million
Key Takeaways
- Every home in this building sold between 16 February and 3 March 2023, and none has sold since — seven of the nine changed hands on a single day. There are no qualified sales on the county record in 2024, in 2025, or in 2026 to date.
- That means there is no ownership record here at all — not one home has been resold. Every owner is the first owner. I can tell you what this building cost; I cannot tell you what anyone has made or lost on it, because nobody has yet found out.
- I am not publishing a turnover figure for this building — the arithmetic would say one home in four a year, which is nonsense — it is measuring a sell-out, not a market. A building that sold nine homes in a fortnight and nothing in the three years since has no meaningful trading rate.
- The 2023 prices ran from $1,446 to $3,128 per square foot — a median of $1,838 and a median price of $2,995,000. The two penthouses took the top of that range at $3,081 and $3,128.
- The county assesses all nine homes below what they sold for — every one, by between 10.7% and 22.6%, and 18.0% in aggregate. That is normal under Florida’s assessment rules and is not evidence of a decline — but it is worth understanding before anyone quotes an assessment at you as a value.
- The county records no bedroom count for seven of the nine homes — so no bedroom mix is published on this page. The homes run from 1,006 to 2,614 sq ft.
304 Ocean Drive, Miami Beach, Florida 33139 | Neighborhood: South of Fifth
What is actually in the building
The county returns nine folios at 304 Ocean Drive and all nine are homes. There is no commercial space, no parking folio and no storage unit, so every figure on this page describes the entire building.
It is organised as seven beach houses and two penthouses. The homes run from 1,006 sq ft to 2,614 sq ft, median 1,581. Two are 1,006 sq ft, two are 1,581, two are 2,126, and the rest are one each at 1,087, 1,578 and 2,614. The largest, unit 201, is a single home spanning beach house numbers 03 and 04.
One honest limitation. The county records a bedroom count for only two of the nine homes — both three-bedrooms — and leaves the field blank for the other seven. I am therefore not publishing a bedroom mix for this building. A source that gives you one is not getting it from the county record, and you should ask where it came from.
For 2026 the county assesses the homes between $1,300,000 and $5,360,000, median $2,500,000. Those figures are conspicuously round, and several homes share them exactly: two at $1,300,000, three at $2,500,000 and two at $5,360,000.
What can you learn from a building that sold out in a fortnight?
Less than you would like, and it is better to say that plainly than to fill the gap.
Every one of the nine homes here sold between 16 February and 3 March 2023. Seven of them closed on 16 February alone. Since 3 March 2023 the county has recorded no qualified, arm’s-length sale at this address at all — nothing in 2024, nothing in 2025, nothing in 2026 to date.
Three things follow, and they are the whole story of this building.
First, there is no ownership record. Not one home has changed hands twice. On most buildings I can tell you what proportion of resellers made money, what the median gain was and over what holding period — at some buildings that record runs to sixty or seventy resales going back twenty years. Here it runs to zero. Every owner is still the original buyer, and nobody has yet tested what these homes are worth to a second buyer. That is the single most important thing a buyer should understand about Ocean Park, and it is not a criticism of the building — it is simply how new it is.
Second, I will not publish a turnover figure. Mechanically, nine sales across a four-year window against nine homes works out at one home in four per year, which would make this one of the most liquid buildings in Miami-Dade. It is not. That number is measuring a developer selling a building once, and then three years of silence. Turnover is meant to describe how often homes come up for sale in the ordinary course, and this record does not contain a single ordinary-course sale. Publishing the figure would put a badly misleading number into my Miami Condo Index, so the building carries a dash there instead.
Third, the 2023 prices are strong evidence of one thing and weak evidence of another. They are excellent evidence of what nine buyers paid, on close to the same day, for a new product — a genuine, complete, simultaneous price list. They are much weaker evidence of what the homes are worth now, three years later, in a resale rather than a launch. First sales and resales are not the same market, and the gap between them is exactly what has not been measured here.
The price record
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 9 | $2,995,000 | $1,838 |
| 2024 | No qualified sales | ||
| 2025 | No qualified sales | ||
| 2026 to date | No qualified sales | ||
No four-year change is published and the building carries a dash in my Miami Condo Index. Three of the four years are empty. There is nothing to compare 2023 against.
Because every sale happened at once, the 2023 line is unusually informative for what it is — a complete price list rather than a sample. Here it is in full:
| Home | Size | Date | Price | $/sq ft |
|---|---|---|---|---|
| Penthouse 02 | 2,126 sq ft | 16 Feb 2023 | $6,650,000 | $3,128 |
| Penthouse 01 | 2,126 sq ft | 16 Feb 2023 | $6,550,000 | $3,081 |
| Beach House 03/04 | 2,614 sq ft | 27 Feb 2023 | $4,615,000 | $1,765 |
| Beach House 05 | 1,581 sq ft | 16 Feb 2023 | $3,200,000 | $2,024 |
| Beach House 08 | 1,581 sq ft | 16 Feb 2023 | $2,995,000 | $1,894 |
| Beach House 06 | 1,578 sq ft | 16 Feb 2023 | $2,900,000 | $1,838 |
| Beach House 07 | 1,087 sq ft | 16 Feb 2023 | $1,890,000 | $1,739 |
| Beach House 02 | 1,006 sq ft | 16 Feb 2023 | $1,680,000 | $1,670 |
| Beach House 01 | 1,006 sq ft | 3 Mar 2023 | $1,455,000 | $1,446 |
The building cleared a median $1,838 per square foot in a band from $1,446 to $3,128. The two penthouses are a different product from the rest — they took $3,081 and $3,128 per square foot while the seven beach houses ran $1,446 to $2,024. Note also that the two 1,006 sq ft homes, identical in size, sold two weeks apart at $1,680,000 and $1,455,000 — the higher price 15.5% above the lower, for two homes of the same size in the same building in the same fortnight, which is a useful reminder that position within a building is worth real money even at launch.
On the assessments. The county assesses every one of the nine homes below its 2023 sale price — by 10.7% at the narrowest and 22.6% at the widest, and by 18.0% across the building as a whole ($26,180,000 assessed against $31,935,000 paid). It would be a mistake to read that as a fall in value. Florida assessed values are not appraisals: they reflect statutory caps and the timing of the tax roll, and they routinely sit below transaction prices. I include the comparison because assessments are public and get quoted as though they were valuations, and on this building that would understate every home.
Who this building suits, and who it does not
It suits a buyer who wants a very small, very new building directly on Ocean Drive and is comfortable being early. Nine homes is about as low-density as South of Fifth gets, and the product is genuinely differentiated — beach houses rather than a stack of apartments.
It suits a buyer who can form their own view of value. With no resale in the building’s history, there is no second-hand price to anchor to. You will be pricing against the 2023 launch list and against neighbouring buildings, not against Ocean Park’s own resale record, because it does not have one.
It suits badly anyone who wants evidence that this building holds its value. That evidence does not exist yet. It is not negative — it is absent, and those are different things. The first resale here will be genuinely informative, and it has not happened.
It suits badly a buyer relying on an assessment as a sanity check on price. As set out above, the county sits 18.0% below the sale prices across the building, for reasons that have nothing to do with the market.
If you are selling here, understand that you are almost certainly making this building’s first resale, and that carries both an advantage and a burden. The advantage is that there is no low comparable to be used against you — nothing has traded since March 2023, so no evidence exists of anyone accepting less. The burden is that you are the price discovery for all nine owners, and whatever you accept becomes the number every future valuation of this building starts from. That is a reason to be patient and to build your case from the 2023 list — $1,446 to $3,128 per square foot, depending materially on which home you own — rather than from a general market number that was never measured here.
Verified 19 August 2026 against the Miami-Dade County Property Appraiser record for 304 Ocean Dr — all 9 folios retrieved individually and grouped by subdivision. All nine are residential homes; there are no commercial, parking or storage folios at this address. Completeness was confirmed by checking that the undivided common-element interests across the 9 folios sum to 100%. The county records a bedroom count for only two of the nine homes, so no bedroom mix is published. Sale figures are qualified, arm’s-length transactions only, with bulk/portfolio transfers collapsed to a single transaction. Every qualified sale on the record falls between 16 February and 3 March 2023; the county records none in 2024, 2025 or 2026 to date, and no home has been resold. No turnover rate is published for this building because the only sales on record are its original sell-out. 2026 is an incomplete year. Assessed values are the county’s, not market valuations, and under Florida’s assessment rules they routinely sit below transaction prices. 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 Park South Beach — Frequently Asked Questions
How many homes are there at Ocean Park South Beach?
Nine, on nine folios — seven beach houses and two penthouses. There is no commercial, parking or storage folio at the address, and the undivided ownership shares sum to 100%, which confirms the record is complete. The largest home, unit 201, spans beach house numbers 03 and 04.
When did homes at Ocean Park South Beach last sell?
Every home sold between 16 February and 3 March 2023, seven of them on 16 February alone. The county records no qualified, arm’s-length sale at this address since — none in 2024, 2025 or 2026 to date.
How much did homes at Ocean Park South Beach sell for?
From $1,455,000 to $6,650,000, a median of $2,995,000. Per square foot that is a median of $1,838 in a band from $1,446 to $3,128, with the two penthouses at the top of the range at $3,081 and $3,128.
Have owners at Ocean Park South Beach made money?
Nobody knows yet, including me. Not one home has been resold, so there is no ownership record at all. Every owner is the original 2023 buyer. The first resale here will be the first real evidence of what these homes are worth to a second buyer.
Why is there no turnover figure for Ocean Park South Beach?
Because the only sales on the record are the building’s original sell-out. The arithmetic would read one home in four per year, which would rank it among the most liquid buildings in Miami-Dade — when in fact nothing has traded in three years. That figure would be actively misleading, so the building carries a dash in my Miami Condo Index instead.
What is the highest price ever paid at Ocean Park South Beach?
$6,650,000, on 16 February 2023, for a 2,126 sq ft penthouse — $3,128 per square foot. The second penthouse sold the same day for $6,550,000.
Why does the county assess these homes for less than they sold for?
It assesses all nine below their sale prices, by 10.7% to 22.6% and by 18.0% in aggregate. That is a feature of Florida’s assessment rules rather than a signal about the market: assessed values reflect statutory caps and the timing of the tax roll, and they routinely sit below transaction prices. Treat an assessment here as a tax figure, not a valuation.
How big are the homes at Ocean Park South Beach?
From 1,006 sq ft to 2,614 sq ft, median 1,581. Two are 1,006 sq ft, two are 1,581 and two are 2,126, with one each at 1,087, 1,578 and 2,614.
Sources and further reading
Interested in buying at Ocean Park South Beach?
Learn more about buying pre-construction at Ocean Park South Beach with Josh Stein.
Related coverage
Part of Miami Luxury Condos.