Miami Luxury Condos · Belle Isle · Terrace Towers
11 qualified sales recorded in 2026 by 17 August.
By Josh Stein · Florida license SL3057661 · Updated 30 September 2026
Verified 17 August 2026Miami-Dade County Property Appraiser1 source
Terrace Towers — photography to follow
Key Takeaways
- Terrace Towers recorded 14 sales in the 12 months to 23 September 2026 — at a median of $615,000, or $702 per square foot, on the Miami-Dade County Property Appraiser record. The latest recorded sale was on 28 May 2026. Own at Terrace Towers? Ask Josh what yours would sell for on WhatsApp.
- 11 qualified sales recorded in 2026 by 17 August: nearly double its own prior years (six in each of 2023, 2024 and 2025), and more than any other building on Belle Isle.
- 141 residences at 3 Island Avenue, with no commercial folios.
- It carries the island’s lowest median assessed value at $387,346, making it the cheapest entry to Belle Isle by that measure.
- Compact format — 90 one-bedrooms, 38 two-bedrooms, 12 studios and one three-bedroom, median 861 square feet.
- Per-foot pricing rose, then eased: $661, $760, $747, $705.
- The county records this building as “3 Island Condo”, not Terrace Towers — worth knowing when searching public records.
Terrace Towers, by the numbers
Architect: Morris Lapidus. Source: the building record on this site.
3 Island Avenue, Miami, Florida | Neighborhood: Belle Isle, Miami Beach
The lowest assessed value on Belle Isle
Belle Isle is the smallest and easternmost of the Venetian Islands, sitting in Biscayne Bay between South Beach and the mainland and reached from the Venetian Causeway. It holds six condominium buildings and almost nothing else.
Counted against the Miami-Dade County Property Appraiser record on 17 August 2026, this building returns 141 folios, all residential, with no commercial units. One practical note: the county registers the subdivision as “3 Island Condo”, not Terrace Towers, which matters if you go looking for it in public records yourself.
The mix is 90 one-bedrooms, 38 two-bedrooms, 12 studios and one three-bedroom, with heated area from 544 to 2,484 square feet and a median of 861. At a $387,346 median assessed value it is the lowest of the six island buildings.
The one building where 2026 volume jumped
Qualified sales from the county record — arm’s-length only.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 6 | $572,500 | $661 |
| 2024 | 6 | $890,000 | $760 |
| 2025 | 6 | $642,000 | $747 |
| 2026 to 17 August | 11 | $630,000 | $705 |
Six, six, six, then eleven, in an incomplete year. The other five buildings on the island recorded no more than seven sales each in 2026. This building nearly doubled.
Per-foot pricing has been steady rather than spectacular: up from $661 to a $760 peak, then easing to $705. Read together, that is a picture of a building clearing inventory at a sensible level rather than one being bid up.
The likely explanation is the one the comparison table makes obvious: this is the lowest-assessed building on a desirable island, and when buyers want the location but not the price of the buildings around it, this is where they land.
Every building on Belle Isle, compared
I counted all six condominium buildings on the island against the same county record on the same day, so these figures are directly comparable — which is not true of anything you will find on a listings portal.
| Building | Homes | Median sq ft | 2026 median assessed | 2025 median $/sq ft |
|---|---|---|---|---|
| 3 Island Ave (Terrace Towers) | 141 | 861 | $387,346 | $747 |
| 5 Island Ave (Island Terrace) | 138 | 950 | $445,196 | $594 |
| 9 Island Ave (Nine Island) | 267 | 1,440 | $774,044 | $863 |
| 11 Island Ave (Costa Brava) | 214 | 1,372 | $626,919 | $911 |
| 16 Island Ave (Belle Towers) | 45 | 1,570 | $1,381,598 | $1,843 |
| 20 Island Ave (Belle Plaza) | 222 | 897 | $438,361 | $691 |
The spread is wide for one small island: the cheapest and most expensive buildings differ by roughly 3.6x on assessed value and 3.1x on price per square foot, with the same address, the same causeway and the same walk to Sunset Harbour.
Who this building suits
This suits a buyer who wants Belle Isle at the lowest possible entry, and who values being able to actually transact: it has recorded more sales than any other island building so far in 2026.
It suits a space buyer poorly. At an 861 square foot median with one three-bedroom in the entire building, this is compact inventory.
If you are selling here, 2026 has the most recorded sales of the four years in the table (11 so far, against six in each of the other three), even as per-foot pricing eased slightly. That gives a seller more recent comparable evidence than the three years before.
Terrace Towers — Frequently Asked Questions
What have homes at Terrace Towers sold for in the last 12 months?
14 sales were recorded on the Miami-Dade County Property Appraiser record in the 12 months to 23 September 2026, at a median of $615,000 ($702 per square foot). The latest recorded sale was on 28 May 2026. These are recorded closings, not asking prices. If you own at Terrace Towers and want to know what your home would sell for, message Josh Stein on WhatsApp at (305) 695-8257.
How many units are in Terrace Towers?
The Miami-Dade County Property Appraiser records 141 folios at 3 Island Avenue, all residential. Note that the county registers the subdivision as “3 Island Condo” rather than Terrace Towers.
Why is Terrace Towers selling more than other Belle Isle buildings?
It has recorded 11 qualified sales so far in 2026 against six in each of the three prior years, while the other five island buildings recorded no more than seven each. It also carries the island’s lowest median assessed value at $387,346, which is the likely explanation: buyers who want the location at the lowest entry cost.
What size are the residences at Terrace Towers?
Heated area runs from 544 to 2,484 square feet with a median of 861. The mix is 90 one-bedrooms, 38 two-bedrooms, 12 studios and a single three-bedroom.
What do condos at Terrace Towers sell for?
Eleven qualified sales so far in 2026 show a median of $630,000 at $705 per square foot, against $642,000 and $747 across six sales in 2025.
Is Terrace Towers the cheapest building on Belle Isle?
By median assessed value, yes — $387,346, the lowest of the six island buildings. On price per square foot, Island Terrace at 5 Island Avenue was slightly lower in 2025.
What does the sale record show about Terrace Towers’ prices?
Median price per square foot was $661 in 2023, $760 in 2024, $747 in 2025 and $705 so far in 2026, on six, six, six and eleven qualified sales. Most homes are compact: 90 of the 141 are one-bedrooms and the median is 861 square feet. These are recorded closings, not a forecast.
Sources and further reading
Interested in selling at Terrace Towers in Miami Beach?
Learn more about selling condo at Terrace Towers with Josh Stein.
Thinking about Terrace Towers?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comGet this building’s next recorded sale — before the listing sites catch up
- Every closed sale we can verify from the Miami-Dade record — price, date, and $/sqft when the deed supports it — not an IDX feed.
- Optional alert when a new deed posts in this building (or a short list of comps you choose).
- No spam inventory blasts. One building. One record. You decide what happens next.
Tell Josh which building. He’ll send the latest closed sales and set a quiet alert.
Get the sales recordRelated coverage
Part of Miami Luxury Condos.