57 Ocean is a new 18-story building located in Miami Beach. Recently, the project became sold out and secured a temporary certificate of occupancy. Amongst the units, one penthouse sold for $36 million. In fact, the entire building sold out for more than $330 million. Sales for 57 Ocean launched in 2018, and closings will officially begin in October. Prices for this project ranged from around $1.5 million to $36 million.
The penthouse that sold for $36 million spans 7,500 square feet of indoor space, in addition to 7,000 square feet of terraces. The impressive penthouse features a pool, summer kitchen, sauna, spa pools, office, club room, a private gym, and five suites.
Around 60-70% of buyers for this project are domestic. Sales for this project remained steady ever since they started in 2018. In fact, because of demand, the development team was able to increase prices. The migration of out of state buyers in Florida helped to push sales. 57 Ocean was designed by Arquitectonica. Some of its incredible amenities include a spa, pool, cabanas, fitness center, and wellness pavilion. Although there were some supply chain issues caused by the pandemic, the project was completed in time.
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