Miami Beach may be known for having the priciest new condominium building based on price per square foot, but it’s the residential island of Key Biscayne that’s currently making headlines. The community is home to the highest grossing pre-construction project of the region’s current real estate cycle that kicked off back in 2011. Oceana Key Biscayne is one of the newest buildings in the island and is a sibling to the even more expensive Oceana in the affluent village of Bal Harbour.
Oceana Key Biscayne has already achieved close to $580 million by selling 148 of its 154 units. It is located right across from the Rickenbacker Causeway and the units have managed to sell for about $1,380 per square foot. The 47-story Mansions at Acqualina in Sunny Isles Beach is a far second from Oceana Key Biscayne’s sales of $160 million. Miami Beach’s Faena House is currently in third place yet it is the most expensive condo based on an average sales price of $3,130 per square foot. The 18-story building has sold 38 of its 44 units.
Oceana is located at 350 Ocean Drive.
This update is brought to you by Miami Beach waterfront rentals, spearheaded by Miami Beach real estate agent and broker Julian Johnston. We provide information on homes and condos throughout the barrier island including the Miami Beach Islands, and you can easily customize your rental search by price and the dates you’ll be staying. Call 786-408-0322 for more information on rental properties in Miami Beach and beyond.