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. The floor is worth noting as much as the ceiling: the least valuable home in this building is assessed above $1.75 million.

The county file gives the year built (2014). Storey count, architect and amenity detail are not in it.

The Median Price Fell 15.5%. The Rate Per Foot Rose.

This table shows why median price is a poor number to follow in a building with this range of sizes. Between 2024 and 2026 to date the median price fell from $8,075,000 to $6,825,000, a drop of 15.5%. Over the same period the median rate per square foot rose, from $2,402 to $2,503, up 4.2%.

Nothing contradictory is happening. This building runs from 1,455 to 7,929 square feet, and in a year when the sales happen to skew toward the smaller plates, the median price falls even if every home in the building became more valuable. That is what the record shows: a lower median price and a higher rate per foot.

My honest reading: the rate per foot has moved $2,415, $2,402, $2,463, $2,503: essentially flat for two years, then a small step up in the incomplete 2026. The direction over the window is mildly positive, up 3.6% from 2023. I would not put weight on the size of the 2026 move: four 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 15.5% is misreading their own data, and the correction is available on the county’s file to anyone who looks.

25 qualified sales closed from 2023 to date, one home in 23 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, measured from the first qualified sale to the latest.

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. The median gain across all 88 is 38.1%; among the 84 that gained, 41.2%. 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%, a loss about the size of 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 a shallow downside record. 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 23 trades each year and only 25 qualified sales have closed from 2023 to date; 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 $5,300,000 and $8,075,000 across 2023 to date without the underlying rate per foot doing anything comparable.

If you are selling: your band is $2,463 to $2,503 per square foot (the 2025 and 2026 to date medians) 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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