Oceana Key Biscayne

What the Oceana Declaration Contains

I pulled every folio the Miami-Dade County Property Appraiser holds at 360 and 350 Ocean Drive. The county returns 143 folios: 141 residential dwellings under the Oceana Key Biscayne declaration, and two under Ocean Beach Fla Sub, which are not dwellings. Every figure here is built on the 141.

Heated area runs from 1,455 to 7,929 square feet, median 2,357. The plates repeat in useful blocks — 28 homes at 1,703 sq ft, 18 at 2,257, 11 at 3,013 and nine at 1,727. The bed mix runs large: 63 three-bedroom homes (44.7%), 50 two-bedroom (35.5%), 22 four-bedroom (15.6%) and six five-bedroom (4.3%). There is no one-bedroom home and no studio in the declaration.

On the 2026 tax roll, assessed values run from $1,753,042 to $15,929,445, median $4,791,266. That median is the highest of any building I have measured in this batch, and the floor is worth noting as much as the ceiling: the least valuable home in this building is assessed above $1.75 million.

Year built, storey count, architect and amenity detail are not in the county file and are not on this page.

The Median Price Fell 36%. The Rate Per Foot Rose.

This table is the clearest illustration in this whole series of why median price is the wrong number to follow. Between 2024 and 2026 the median price fell from $8,075,000 to $5,150,000 — a drop of 36.2%. Over exactly the same period the median rate per square foot rose, from $2,402 to $2,642, up 10.0%.

Nothing contradictory is happening. This building runs from 1,455 to 7,929 square feet, and in a year when five sales happen to be smaller homes, the median price falls even if every home in the building became more valuable. That is precisely what the record shows: fewer large trades, higher rates per foot.

My honest reading: the rate per foot has moved $2,415, $2,402, $2,463, $2,642 — essentially flat for two years, then a step up in the incomplete 2026. The direction over the window is mildly positive, up 9.4% from 2023. I would not put weight on the size of the 2026 move: five sales in a building this varied is a thin basis, and it is the smallest sample in the table.

What I would say confidently is that anyone quoting you Oceana’s median sale price as evidence the building has fallen 36% is misreading their own data, and the correction is available on the county’s file to anyone who looks.

26 qualified sales closed across the four years, one home in 22 each year. The county carries 251 qualified sales at this address across its full record.

Four Losses in Eighty-Eight Round Trips

88 of the 141 homes — 62.4% — have a completed round trip on the county record, both legs qualified and arm’s-length.

Of those 88, 84 sold for more than the previous owner paid and four sold for less. None closed at an identical price. That is 95.5% gaining, one of the strongest rates in this series. The median gain across all 88 is 40.0%; among the 84 that gained, 42.0%. The range runs from -7.8% to +233.3%, and the median hold is 6.6 years.

Two things make this record more meaningful than a headline percentage usually is. The hold is short — 6.6 years, against the twenty- and thirty-year holds that flatter older buildings — so a 40.0% median describes recent ownership rather than ancient history. And the worst outcome in the entire set is -7.8%. Several buildings in this series carry individual losses beyond -50%; the deepest loss ever documented here is smaller than an ordinary cost of sale.

The record sale is $18,000,000, closed 28 April 2021, for the building’s largest home at 7,929 sq ft — $2,270 per square foot. Note that rate: it sits below all four annual medians in the table above. As in most buildings with a wide size range, the record price was set by size rather than by a premium rate, and the same home traded again at $17,000,000 in 2014. The highest rate per foot on record belongs elsewhere — a 4,762 sq ft home closed at $15,200,000 on 9 January 2025, which is $3,192 per square foot, the top rate the building has produced.

Who Oceana Key Biscayne Suits, and Who It Does Not

It suits a buyer at the top of the market who wants the strongest downside record in this series. 95.5% of documented resales gained, the worst documented outcome is -7.8%, and the median hold behind those figures is under seven years. For a buyer deciding where to place several million dollars, a building whose worst recorded round trip is a single-digit loss is a genuinely different proposition from one where a quarter of sellers took a loss.

It suits a buyer who wants a three- or four-bedroom home specifically — 91 of the 141 homes are three-bedroom or larger, and there are no small homes at all to dilute the building.

It suits badly a buyer who needs liquidity. One home in 22 trades each year and only 26 qualified sales have closed in four years; at this price level, that means waiting for a comparable rather than choosing among several.

It also suits badly anyone shopping on the median. The median price here has swung between $5,150,000 and $8,075,000 in three years without the underlying rate per foot doing anything comparable.

If you are selling: your band is $2,463 to $2,642 per square foot applied to your own plate, and the argument to make is the resale record — four losses in eighty-eight round trips, worst case -7.8%. If your home is one of the largest, be aware the building’s record price of $18,000,000 was set at $2,270 a foot, below the current band; the $3,192 per square foot achieved in January 2025 is the more useful ceiling to argue from.

Interested in selling at Oceana Key Biscayne?

Learn more about selling your condo at Oceana Key Biscayne with Josh Stein.

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