Parque Towers

What is actually in the building

Start with something that is easy to get wrong, because I very nearly did. Parque Towers is a single condominium occupying two towers at two street addresses — 300 and 330 Sunny Isles Boulevard. The county files both under one condominium name and numbers the units by tower: everything at one address carries a 4- prefix, everything at the other a 5-. Pull either address on its own and you get roughly 160 folios and a plausible-looking building. Pull both and the real one appears.

Across the two addresses the county returns 323 folios. 320 are homes. The other three are commercial store units of 2,242, 3,020 and 3,976 sq ft, which are excluded from everything below. Tower 4 holds 159 homes and tower 5 holds 161.

The homes run from 1,524 sq ft to 4,736 sq ft, median 1,892, and they are highly standardised: 149 homes at 1,892 sq ft, 67 at 1,524 and 67 at 1,541 — 283 of the 320, or 88.4% of the building, on three plans. The bedroom mix is 138 two-bedrooms, 153 three-bedrooms and 29 four-bedrooms. There are no one-bedrooms and no studios; the smallest home here is larger than the median home in a good deal of Miami.

For 2026 the county assesses the homes between $623,345 and $3,891,580, median $1,132,875.

Why does one tower trade 15% above the other?

I do not know, and I will not guess. But the gap is real, it is consistent, and it is measurable three separate ways — which is more than can usually be said for a difference between two halves of one building.

The two towers are as close to identical as any pair I have measured. Both run from 1,524 sq ft to about 4,700. Both have a median home of exactly 1,892 sq ft. They were built and sold at the same time, under one condominium declaration, sharing one set of common elements.

Tower 5 clears 14.9% more per square foot, trades a third more often, and the county assesses it 8.7% higher. Three independent measures, all pointing the same way. When the sales evidence and the tax roll agree, I take the difference seriously.

The year-by-year figures say the same thing without exception: tower 5 cleared $819 per square foot in 2023 against $705 in tower 4, $837 against $784 in 2024, and $848 against $748 in 2025. There is no year in the four in which tower 4 out-cleared tower 5.

One thing did flip in 2026, and it is worth watching rather than interpreting: tower 4 has recorded four qualified sales this year and tower 5 has recorded one. On those numbers I would not read anything into the 2026 per-foot figures for either tower separately.

The practical consequence is simple and it costs money if you miss it. A comparable from the wrong tower is worth about 15% less than it looks — in either direction. If you are shown a $/sq ft figure for “Parque Towers”, ask which address it came from.

The price record

This is one of the better-evidenced records I have — 75 qualified sales across four years, and the median home sold was 1,892 sq ft in every single one of those years, so for once the mix is not doing the talking. On my published method the four-year change is +0.7%, and both endpoints clear the five-sale threshold, so that figure goes into my Miami Condo Index as a real number rather than a dash.

Flat is the honest summary, but it understates the journey. The building rose 11.8% between 2023 and 2025, from $735 to $822 per square foot, and has given back 10.0% since. With five sales in 2026 I would treat that last leg as a direction rather than a magnitude. Across the whole four years the median was $798 per square foot, in a band from $558 to $1,436, at a median price of $1,500,000. The record is $5,750,000, paid on 2 April 2020 for a 4,640 sq ft home at $1,239 per square foot.

Now the number that matters most here, and it is not a good one.

This building sold out fast and recently. 293 homes — 91.6% of the building — changed hands between 2018 and 2020, with 258 of them in 2019 alone, at a median $1,130,000, or $620 per square foot. Almost every owner bought within a two-year window at close to the same price. That makes the resale record unusually informative, because it is very nearly a controlled experiment in what happens to new-build buyers.

Of the 171 resales the county has recorded here, 59 lost money. That is 34.5%. The median loss was 13.0% and the worst was 37.5%. Among the original 2018–2020 buyers specifically, 50 of 140 resold at a loss — 35.7%. The median outcome across all resales was a gain of just 9.2% over a 2.8-year hold, which after costs is not a gain at all.

I want to be precise about what that does and does not mean. It does not mean the building is failing — it trades often, the four-year price is flat rather than falling, and the buyers who have held on have not been hurt. It means that buying new here and selling within three years has been, more often than not, an expensive decision. And it is not unique to this address: I have now measured the same thing at three separate recently-delivered Miami condominiums, each landing between 34% and 41%. When someone tells you new construction is the safe end of the Miami market, this is the evidence to put in front of them.

Who this building suits, and who it does not

It suits a buyer who wants space at a per-foot price well below the oceanfront towers a few blocks away, and who is buying somewhere to live rather than something to trade. Nothing here is under 1,524 sq ft, the three main plans are large two- and three-bedrooms, and at a four-year median of $798 per square foot this is among the cheaper Sunny Isles addresses I measure.

It suits a buyer who does the tower homework. Fifteen per cent is a lot of money to leave on the table for want of asking which address a comparable came from.

It suits badly a short-term holder, and the record is unambiguous about that. A third of the people who have sold here took a loss, and the median holding period among them was under three years. If your horizon is two or three years, this is not the building for it.

It suits badly anyone wanting a small or entry-level home. There is no such stock at this address.

If you are selling here, three things. First, know which tower you are in and price to it — if you are in tower 5, comparables from tower 4 are understating you by around 15%, and you should say so with the numbers above. Second, be realistic about the 2019 cohort: if you bought new at $620 per square foot and the building now clears $740, your gross gain is real but modest, and a third of your neighbours who tried did worse than that. Third, the four-year record here is thick — 75 sales — so a buyer can and will check everything you claim. Use that. In a building with this much evidence, the seller who argues from the record wins more often than the one who argues from hope.

Interested in selling at Parque Towers?

Learn more about selling your condo at Parque Towers with Josh Stein.

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