The luxury condominium development in South Beach, Ocean House, has recently closed the sale of its
last unit that was bought for a cool $12.1 million. This recent wave of buyers scooping up Ocean House units speaks to a continued interest in the luxury real estate market, regardless of the recent decline in overall property sales noticed over the past few months. South Beach luxury condos are clearly still in high demand, which is in part due to the increased interest in Miami and surrounding areas by foreign and local powerhouses.
Ocean House was originally built in 1946, but recently undertook major renovations aimed at making the space reflective of its A-List address. Located at 125 Ocean Drive, the building has direct access to a strip of beautiful South Florida beachfront and is surrounded by some of the most notorious properties in the country. The building changed ownership in 2009, and since then has been transformed through extensive renovations and redesigns at the hands of the renowned interior decorating company Interiors by Steven G so as to fit the image people have come to expect from South Beach luxury. The units were reconstructed in a modern, Art Deco-style that has recently been very popular in the area, and residents can expect amenities such as private beach access, a fitness center, a beachfront pool, and a private theater room. Ocean House has 18 residences total that range in size from two to four bedroom condos, multiple penthouses, and two beachfront homes.
This recent closure on the final available Ocean House unit illuminates the continued demand for luxury real estate in South Florida despite larger market trends. This persistent investment in the area’s high-end property is a product of both the rising status of Miami and South Beach and the desire to bask in the Florida sunshine when temperatures cool up north. If you would like to know more about either residential or commercial listings in the area then feel free to contact a RE/MAX agent today or they would be help to assist you with all your real estate needs!